back in course on corruption charges he's accused of racketeering fraud and money laundering it's related to a $2000000000.00 deal with french arms money fracture tellus in the late 1990 s. when zuma was a senior figure in government tellus has also been charged zuma and the company both deny any wrongdoing jailed hong kong media tycoon jimmy lie is in court for a new trial along with 9 other pro-democracy activists that charge with incitement to our north rise to assembly for their roles in 829000 protest march. this is sound as there are these your top stories israel is continuing its bombing raids across the gaza strip despite international calls for calm the military has warned the un that it plans to bomb 2 schools used accommodation for refugees 200

palestinians including 559 children have been killed in the past week 17 israelis have also been injured by rocket fire from gaza buildings were hit in a stalled beersheba 10 israelis have been killed since the escalation began you are 6 your state and the blinken one has a reiterated washington stance that israel has a right to defend itself against rocket attacks from hamas but he called on both sides to do more to deescalate the situation and respect international law further we call on all parties to ensure the protection of civilians especially children to respect international humanitarian law to protect medical facilities protect media organizations and protect u.n. facilities where civilians are desperately seeking shelter and we are ready to lend support if the parties seek seek

a cease fire. senior indian virologists meal has resigned from a government coronavirus advisory group that looked into new variants he had raised concerns the government was not paying enough attention to the more contagious indian strain not to the u.k. is taking a major step towards normality this monday coronavirus restrictions are being eased across england wales and most of scotland bars restaurants cinemas and sports venues among the businesses being allowed to reopen their doors a complete left wing of covert 19 measures is due in june southwestern india is bracing for impact as a severe cyclamen heads towards the country side clone told today has already caused heavy rains and flooding killing 6 people they say headlines counting the cost coming up next.

hello there i'm how the markets and this is counting the cost on al-jazeera of the world of business and economics this week the return of big government by than spending trillions taxing the rich and corporations giving away peyton's for vaccines to supercharge the economy and global growth. well that leads to a rise in inflation prices are rising all along the supply chain and so on wages

but it's not an equal global recovery i made an army corps vaccine program. and when the billions in revenue just aren't enough and generation said switches off footballs business model wasn't working before the pandemic and it's not working now to. raise taxes for the rich and corporations to pay for not only the post pandemic recovery but leveling up the way the gap between the richest and the poorest in society it sounds like a no brainer seeing as the wealthiest us citizens of made more than 4 trillion dollars last year from stock market gains but president joe biden's plans to spend trillions of dollars on the recovery also tells us that the reagan era accepted consensus of trickle down economics maybe at an end a big government is back more than 2 decades after bill clinton declared it was

over or biden's plans to spend $2.00 trillion dollars in infrastructure and $1.00 trillion dollars on proving education and training have echo so franklin roosevelt's new deal during the depression in the 1930 s. it's not only a u.s. phenomenon one of prime minister boris johnson's plans for leveling up disadvantaged areas in the north of england was to spend billions of dollars on infrastructure programs separately a report commissioned by johnson head of the g 7 meeting in june said the world's richest countries should invest 10 trillion dollars to stalk a green for coverage and provide vaccines and a similar splurge could be underway on the european coincidence with plans to distribute 750000000000 euros in grants and loans to national governments it's all these prime minister mario draghi is banking on the 261000000000 euros to revive

the moribund economy his spending plans could boost the economy by 3.6 percent by 2026 but all these plans may have. and its side effects inflation while stock markets have hit record highs they are jittery about the prospects of runaway inflation and central banks withdrawing support through cheap money fed chair jerome powell expects higher inflation will be transitory arguing that the labor market remains 8400000 jobs below its peak in february 2020 well there's a lot to unpack here is less very good see experts to help us do just that carry a part is head of investment research at f.x. primus she joins us from the muscle in cyprus and robert's janiero is the director of black square international and this ng fellow at the london school of economics he joins us from london and robert see you 1st if you think this is a temporary return to big spending governments or is could this be something more

permanent yes so he feels a little more permanent doesn't think the government has spent a lot of money over the last year getting to the pandemic and now thinking well how do we recover and who are going to spend money going forward to try and stimulate their economies. and take lots of infrastructure and spending to grow that no attempt to grow their ways out of out of the recession that they are. do you know the big fear with the stimulus is that it is going to cause inflation that hasn't gone time very well has said especially after janet yellen the u.s. treasury secretary said interest rates would need to rise comments that she has since walked back was here if you i mean definitely given the size of stimulus from the central banks as well as in the federal government we're going to have pick up in inflation at some point however i do think that maybe their fears are a bit overstated at this point and looking at yesterday's inflation number as well

it's larger concentrated in those cyclical areas of the economy but given the amount of stimulus it's only natural that we're going to have some sort of bright price increases and also on a durable basis not just $1.00 time shift in a price level and robert it's interesting here that we're talking about the huge investment that richer countries are funneling inside the economy and yet many developing nations are already working on calling some of these debts back as we saw with columbia was your take on this is it really mixed picture as you say you know wealthy countries are saying we're going to build we're going to digitize boys we're going to combat climate change and have green backs and but then a lot of that. quite a said is tied to what people are buying in the market you have a certain commodity so steel copper rare metals that come from typically emerging

markets and emerging markets are still in the grip of of the coronavirus they're nowhere near as well insulated as the rest of the world or the advanced you know the developed world has been in terms of vaccine rollouts and preparedness and implementation their infrastructure just isn't as good so that's a really difficult picture on one hand they've got you know much greater demand for what they sell an emerging markets last a few people available to do it and then i guess in the last hour you've got the domestic. aspects of of countries thinking about north africa here or even some extent the gulf region where you know those economies are reliant on tourism or extractive. compaq yet and so their budgets have been blown through another thing you know how do we recover from that or do we issue more debt and we issue in debt ok as long as it's spent wisely and you're able to pay it back will

doesn't look to be that that's going to always be the case so you do some point you're going to have some problems in terms of you know matching matching that need to the emerging markets definitely have the investment and the debt that we need to issue to achieve it and you see at the end paying for a guy a high tolerance reduce a investors are it's in a debt which has been accumulated jury in this crisis should poorer nations be worried about credit scores being downgraded definitely a problem for poor countries although weaker dollar at this point and again those countries that export commodities are slightly better positioned however i think at some point some sort of their debt relief definitely has to be on the table which is complicated given the structure of investors for poorer countries i.m.f. world bank and g 20 are maybe slightly more open to it to relieve some of the debt but private investors let's say such as hedge funds or institutional investors on

the pension side they have they do share a duty towards their own investors and i think that complicates a lot of those restructuring discussions robert let's talk vaccines one of the drawbacks to the recovery will be the distribution of vaccines that joe biden has offered to relax peyton laws do you think this is really going to help speed up the recovery you would hope so but again it you know it comes down to that supply chain issue and a factor in distribution immunization and then repeat so it's. not just as simple as patents is it's a good step but it means that countries that don't presently have the contractor ability to manufacture and distribute the vaccines can. but at the same time you know is it going to solve everything no it's not so it's a good step but again it's only going to be a temporary step you know you know going to see big ip changes across across the board so it's

a nice and well being but. it will help but i don't think it's going to solve the providers now who do you think it's going to help because if you look at their one of the top 10 richest economies certainly known for their vaccines development distribution and production the reality on the ground as we've seen in these polls since is very very different indeed is it is a really interesting case obviously they've been producing much of the world's vaccine so it's our own excess saddening they're also the ones of now having the biggest problem with the current of ours i mean if you look at the indian economy it's composition it's a deeply uneven society you've got huge wealth disparity got millions and millions of indians who are poor and you know they're just they live in a completely underdeveloped towns and cities that need you know basic infrastructure investment. for their lives and that's part of part and parcel of the reason why coronavirus has been able to spread is not just about the idea as to

the rules that the indian government created it's also about the ability of the indian infrastructure and health infrastructure to get people mustn't forget there's 1.10.2000000000 indian people so it's a huge country. it in that particular case i mean you would hope it would help india but i think that wider rolled out what how is it going to help the congo how is it going to help. you know central african countries how is it going to help central american countries that is less clear and yet you know everyone has the coronavirus of the ability to carry it then we all have to be immunized from it that's going to take a very long time to achieve and. joe biden is clear to these peace and laws germany on the other hand is not and the early reaction in germany was a sell off i do you explain this i mean i'm going to merkel has taken much stronger stance towards the ip protection and definitely is more open to communication and

making sure that poorer countries have access to a vaccine but exactly like robert mentioned just releasing to i.p.s. is one part of it it's more difficult to procure actually the ingredients needed and then having the facility in order to produce so that the idea is great however i think the execution will prove to be much more difficult than we actually imagine at this stage let's take a broader if you know robert there has been a rapid bounce back in many parts of the world but we are a long way from recovering all the jobs that have been lost so what in your view needs to happen but the mom's supply aspect the global economy is is really interesting some people have lost their jobs and can't find other ones you some people don't really welcome asset price inflation question in stock markets in commodities and property it's a very uneven distribution of wealth. and country levels that's regionally that's

in the e.u. in america seems to be pretty universal you know for many people around the world or most of the world they derive their money from what they earn not from the assets that they own so i think it comes down to paying people more skilling them. going to grow actually improving businesses and helping them grow as well which can't just be about loans you know there has to be more than that has to be demand led. you can't just keep growing economies on debt because eventually you've got to pay off all right off and it's interesting seeing people now afraid of inflation stock markets being soft because inflation erosion in the last 10 years all we wanted is inflation and all we've got is deflection so we need to move ration we need that demand and we need it to be more even it can't just occur you know asset bubbles can't just happen in property stock markets and commodities it needs to be

brought them up ok kyra a final question to you is the european union in your view lagging behind the united states in this recovery and do you think they can get this massive 750000000000 euro plan signed off it's funny to hear a number referring to 700000000000 nowadays as huge because looking at us we see trillions worth of stimulus coming out and the markets still think we need more so but coming back to the question definitely behind in terms of the fiscal stimulus we need all members of member states to ratify the recovery fund and i think from there it has to be extremely aggressive implementation and i like the sort of tears that the e.u. owns the focus on from green energy perspective but also digitalisation of the economies but i think it's a long way to go and it's very hard to achieve if europe remains as fractioned as we are at this point ok we'll have to leave it there are lots of food for thought

thanks to both of you carry a part of the head of investment research at f.x. primus and robert deniro director of black square international thank you. antic the dirty dozen less than 48 hours to kill off their european super league after a backlash from supporters the dash for cash by some of europe's biggest clubs had little to say with saving the beautiful game is younger viewers switch off and more to do with the billionaire owners locking in perpetual revenue streams europe's top 2 n.c. revenue generating quotes made a combined $8200000000.00 euros that's close to $10000000000.00 in the 20192020 season and that's down from $9300000000.00 euros in the year before the pandemic is true the pandemic has hit clubs hards the english

premier league has lost $600000000.00 in revenue but that didn't stop them from spending $900000000.00 in recruiting players cheering the summer even before the pandemic clubs were in trouble as wages were sucking up more and more of their income half of the premier league team spent more than 70 percent of their income on wages take manchester city this year's premier league winners there and $478400000.00 pounds and paid wages or 351000000 paints that's about 73 percent of it saying income so should you be surprised that the cob made a loss of 125100000 pounds well joining us by skype from coventry is simon chadwick director of the sensor for the eurasian sport industry at the e.m.c. on business school gets our view where there's on the program simon for will seek

it out huge sums of money from broadcast rights and the more slowly been going into player wages at the expense of profits abilities if you think it's not. time for a salary cap financially and one might even say morally there has to be an argument for for salary capping if we look at some of the world's highest paid players we are talking about hundreds of thousands of pounds worth of salary per week let alone per month per year and so there is a compelling set of arguments that point to the need for a cap but there are really 2 things that i would point out the 1st thing is we were talking about a group of people who have a very distinct skill set. not unlike surgeons are engineers there are very few extremely talented players in the world and so under normal free market laws that's what happens is when a they have reskill so people generally have to pay more to acquire those skills i

think the 2nd thing too is in legal terms across the world there are different picture so for instance in the european union it would be very very hard to impose a salary cap for legal reasons because the common argument would be in a court of law in europe is you don't sally a salary cap chief executive you don't sell a salary cap doctors so why are you discriminating in salary capping players and so whilst many people will be calling out for a salary salary cap across the world in reality it's actually logistically legally in practically very difficult to implement one of the reasons given for the european super league was audiences especially generations a. apparently were very interested in watching football what do you say to that for people like me who some people might label as hardcore fans we were born with a club and we will die with a club and there are

a lot of people like me not just of my age but of other ages too but what we're beginning to see is a new generation of consumer and a new generation of sport fun emerge and these are peep. all who have never known life without the internet they're increasingly consuming content on demand and so the nature of their funding is changing one of the things that we found from from our research is is that whereas historically people would identify with with football teams nowadays generations eighties for instance identifying more with players and so when a player moves club they also will move club and follow the player rather than stay with the team and if we keep in mind too that generation said isn't the end of this in many ways it's just the start we have generation alpha and generation alpha you know these are these these young people are 7 or 8 year years old right now they're watching on demand on tablets they're playing the sports and so the kind of

traditional associations that people like me might have with football 7 year olds and 17 year olds right now don't necessarily have the same predisposition towards not just football in general book but the kind of clubs that historically fans would associate with so if the solutions of this problem is a european super league war days the solution then to capture generations and generation alpha is a war streaming the interesting thing is it's i think all of us need to realize that we're living in the middle of a revolution we're living in the middle of a digital revolution we're also living in in the middle of a really what you call a global revolution so you know those kind of old industrial heartland of european football that many of us were born and brought up in which dates back to the 1900 century in the industrial revolution in many ways this is a role for we're living in new era where yes more content are being made available

digitally in really flexible ways is one part of it i think linked to it there are developments in over the top broadcasting but there are also developments seen in for example or pointed reality. and it's very very likely that at some stage over the next 5 to 10 years you know we may well be watching sports and football using some kind of headsets the texas deep inside the stadium when a game is taking place so we're very much living in a in a state of flux technologically and digitally but i think at the same time we also need to understand that people's lifestyles are changing as we've seen throughout the pandemic with the with the growth of for example netflix the way in which people consume. audiovisual content is very different now even to just a year or 2 years ago where we wanted to be flexible we wanted to be on demand and so all of the old certainties all of the old realities that many of us. and

understand and engaged in football in the 1st place they're very rapidly eroding and so we have to get used to the fact that moving forward from this point new generations of consumers will be looking for very different things and so the kind of products that we're used to seeing in sports and in football will have to change in order to survive indeed. we are out of time it is great to get you on the program thank you so much and joining us on kinds in the course and q. now chile exports the lion's share of the world's al gets its phones in the cell walls of brain seaweeds and is widely used in everyday products including cosmetics the alga grows in underwater forests off chile's long coastline but as the sea in human reports from peter cook it's now in danger due to a growing black markets in illegal harvesting. added lance it's obvious the

planet earth is more water than land. but instead our 1st looks like there's nothing but underneath there is extraordinary biodiversity one trunk of can sustain more than 400 species there are snails see a chance and then many it's where life begins. these are map grow algae forests as indispensable for our survival as those that grow above ground through photosynthesis they absorb just as much c o 2 gas and together with phytoplankton and sea grass they produce nearly half of our planet's oxygen are there also like nurseries for small fish to find shelter from predators. along 2000 kilometers of chile's pacific coast these forests can grow 40 metres high and live for up to 25 years but they are in danger i

thought marcus on the limit access there are areas especially in the north where the algae is being extracted indiscriminately. killing other muslims almost every day by the compass walks on to the edge of these rocks to catch needle as it's called in chile it's hard work but it's escalating price has allowed her to send her 3 children to university. these widows who are out are drying out here so that they can then be taken off to be sold and why is this algae in such high commercial demand because they are the source of alginate you probably have never heard of it but believe me you have consumed it this is making your car's dashboard since the most expensive type this variety for making green. and this one called the black widow is used in making the plastics that we use practically every day. it's also used widely in the cosmetic industry from here it's

taken to a processing plant to be chopped and shipped primarily to china and japan chile produces 40 percent of the world's alginate but much of it is harvested illegally and media companies says she only takes what the ocean throws out in the thick of it all this is what we call the head of the tree the ocean to root out to shore because it was no longer needed this isn't the same clear oh that the boat extracts the fishermen dive cut it off from the head and kill it. licensed fishermen are allowed to rip out the algae a technique that was illegal until 1800. last year 500 tons were exported half of it harvested without authorization in a thriving black market. chile's long coastline makes it difficult to police but there are other ways to help turn the tide like a system saving or regrowth. tourist on the bottom of the

wood box. it requires an investment yes but employing science to counter the depletion of natural species has already become a necessity so that as darwin once said we don't all perish you see in human al-jazeera peachey coolly. and that is our show for this week but there's more for you online at al-jazeera dot com slash c.t.c. thank you straight to our page which has entire episodes for you to catch up on. but that's it for this edition of cancelling the cost i'm hala mohit seen in the whole team thanks for joining us the news on al-jazeera next.

a life and death struggle for racial equality in a deeply on equal society fortunately that was a spy for the apartheid regime within their group they've been very close friends like a family living together over 50 years after his tortured death and police custody just your world tells the remarkable story of until parklike campaign in bam i don't know how. south africa bam bam and 4th apartheid are not just. we tell the untold stories. we speak when. because. no matter where it takes us the police will feel serious. and. impartial

we tell your story we are your voice. your news. al-jazeera. think. palestinians go through another day of death and bloodshed as israel continues pounding gaza with all telerate and strikes. this is al jazeera live from die all set coming up from all spittle bad just stayed to watch people in gaza real on the shortages. almost that the u.k. stake.