limits on. what you have for breakfast yesterday why would you put those for the faces your wife or two dogs may like to name and that was your biggest fear a little bit on a hay ride when so less time to read a board you say if you ever miss the things the best quarterback for exploring the topic that doesn't belong in the piece now i've interviewed you to question more. got to keep. your.

i'm lindsay francis is broadcast live around the world from washington d.c. tonight japanese airbag manufacturer tech adds millions more cars to its recall and replace plants after even more of its faulty life saving devices were found also the boyle bank of scotland's got customer woes of a different sort as it settled for five point five billion dollars with the u.s. over the mis selling of mortgage backed security also federal reserve chair janet yellen begins two days of testimony my guest former u.s. attorney commissioner parkfield and comes into breaks it down for us there must starts right now stand by.

the royal bank of scotland is set to pay out five point five billion dollars in a massive settlement in the united states this resolves claims regarding the issuance of underwriting of approximately thirty two billion dollars of residential mortgage backed securities the settlement follows a deal last month with thousands of investors who sued amid allegations they were misled into buying shares. at the edinburgh based bank a sixteen billion dollar cash call the fact that the banks shares collapsed soon after it was bailed out by the government under the settlement wednesday r.b.s. will pay five point five billion but be reimbursed for seven hundred fifty four

million under indemnification agreements with third parties the bank must still resolve outstanding civil and criminal claims with the department of justice for its crimes. and is adding two point seven million vehicles from ford nissan and mazda to the long list of those recall to replace potentially dangerous airbag inflators made by the company the inflators are a new type that previously it was thought to be safe vehicles affected are from the two thousand and five to two thousand and twelve model years to cause the inflators can explode with too much force and then spew shrapnel into drivers and passengers at least seventeen people have died and more than one hundred eighty injured due to this problem because i use the chemical ammonium nitrate to inflate the airbags but it can deteriorate when exposed to humidity and high temperature previously the company thought inflators with a dry agent are safe but the government says new tests show that some inflators

with the drawing agent pose a safety risk. in an effort to media tensions with our u.s. secretary of state rex tillerson is meeting with ministers in saudi arabia this week but he's already got an uphill battle ahead of him as the four arab nations boycotting cats are not willing to compromise on their demands. is here with more on that for us now bianca tillerson was in qatar on tuesday so how did that meeting go so. all. right bianca looks like we're having some technical difficulties so we're going to we're going to go to another story now but we're going to come back to you right away so one of the things we want to mention is that if if the.

we're going to go to break right now we'll be back with you in just one moment. well the world is still the news companies merely players but what kind of partners are in t. america playing marty america offers more artsy america first lead in many ways to use landscape just like the real news big names bad actors and in the end you could never know you're on. the market the world's the world's the world's a stage we are definitely a place. i'm a trial lawyer i've spent countless hours poring through documents to tell the story about the abuse side of the. corporate media uses to talk about the

carnage. i'm going to pay to clear picture about how disturbing how people were put on the. mug these are stories that no one else. might have to post to the american. west. would you have for breakfast yesterday why would you put those for the face. of my good name and what your biggest fear is in the moment when so let's read a book to see if you have a concern but what about. one topic doesn't blow up you know i believe you take what jimbo.

rex tillerson was in qatar on tuesday tell us how that meeting lands so when he was in doha he signed what they called a memorandum of understanding but the second was regarding right against terrorism and terrorism financing but the second that was announced the gulf states immediately shot that down and said you know we do not recognize this as a legitimate step forward towards amending the boycott right now which is why a lot of people do not think that there is going to be incredibly successful it's been over one month since saudi arabia the united arab emirates bahrain and egypt issued a boycott of qatar it's been a tricky situation for qatar to approach considering this is the country's worst diplomatic crisis in decades and so far the gulf states are not willing to compromise on their long list of demands for doha sanctions were imposed on june fifth over allegations of terrorism financing and close ties to iran a known gulf state rival the terrorism part is one thing but the iran part is just

as complicated saudi arabia has not been shy about its feeling toward iran with fears of its government trying to destabilize the kingdom especially in its eastern province the east is home to most of the country's oil production maintaining its position as the unofficial leader of opec but it's also home to the shiite minority and any inspiration from outside states like iran to cause a rift in the country could put a dent in oil and we know that saudi arabia and the rest of opec can't really afford that right now over the past year when west texas intermediate which serves as the global benchmark has settled around forty five dollars a barrel as you can see in this chart and it's been hovering around that mark since two thousand and fifteen about half of what it was in the year prior before twenty fifteen was selling between eighty and ninety dollars a barrel and still has yet to recover meanwhile iran's oil minister is saying that

they'll be pumping formula. in barrels per day by the end of the year based on recent numbers it's not too hard to believe that because of previous sanctions iran was exempt from opec ordered production cuts and once those cuts were lifted iran has been trying to make its make up for that lost market share which they have clearly done so far now when you take oil into account the qatar boycott somehow becomes more complicated but it's certainly not the only complex that's wrapped up in one of the world's biggest and most important commodities. mired down in massive troubles and of course any time it's wrapped up in oil very convenient you just mentioned that oil complicates of course these other conflicts but give us an example so people can understand how it gets in there it's going to explode this entire thing sure so another perfect example of this would be the war in yemen which has been going on since two thousand and fifteen and there is a straight located right off the coast of yemen that it's a very popular trading route for ships carrying oil and other commodities as well

but of course we know there's a lot of oil in that general area and because of the way the war has progressed it's no longer safe for those ships to travel so we also know what makes it even more complicated on top of that is this is what people are calling a proxy war between saudi arabia and iran because one side is backing the government and the other side is backing the rebels so this on top of the new boycott in qatar is just making things over in that part of the world very very complicated ok so let's talk about success in progress taylor said any progress made today not really and i don't think we should keep our hopes up for any progress aside from the fact that he has spoken to both sides and maybe we'll come back with some fresh ideas thank you very much for this boom bust. if you use the internet to days and days you want to take special note of activists and policymakers from around the country are drawing attention to net neutrality the need for a free and open internet especially if you are watching this online right now let's

set up arctic correspondent on your part is here to explain why we should care and what was said today very important meeting today. tell us what the fight over net neutrality is actually about because it does get very complicated. often described as one of the most boring sounding terms just tune it or not line to now the minute they know your net neutrality but it's very important to use that especially as you mentioned if people are watching this online for example because the way the internet works now lindsay all content and information is in theory treated fairly at least in terms of how. how much your. the speed at which you're receiving your access. if you're watching this on our team has website it's going to stream basically the same way any other network would on their website if the telecommunications companies have their way however lindsey they would like to make the internet pay to play system where essentially a company like netflix for example could pay to have faster streaming capabilities

and shut out competition you pay exactly and in fact former f.c.c. chair under clinton gloria christiania she was on the hill today to kind of put in her own words why the fight for net neutrality is a fight for basic rights really in the modern age. the internet has become integral to everything we do and whether it's to communicate with our congressmen or our city government whether it's to get government benefits whether it's to organize you cannot do it. it has become the modern public square we were used to go to the we still do go to the squares to let our voices be heard the public square is now. considering comcast for example is often rated americans that most hated company to work to. comcast would not be a company americans want making decisions about their internet absolutely not so

let's talk about lawmakers. interesting situation with them always very partisan issue with them on capitol hill what are they saying about this issue well senator ron wyden for example democrat from oregon has come out swinging very vocal proponent of net neutrality saying this is something we need to work very hard on slamming current director aaj of pie who used to work for horizon is largely seen as a tool of the industry he's now in house with overseeing it let's hear what wyden said today. on the hill. volunteering net neutrality isn't going to cut it because with bone neutrality we're still going to. play or did they shouldn't approach is whole learning. about where we go. we started heading back to it in. america

you hear white in there speaking very strongly writing words like aristocracy lindsey and the reality is while it is true the democrats have taken clear positions at least and white in this case in favor of net neutrality this puts them largely on the side of major corporation or internet companies like facebook amazon they're not necessarily the good guys lindsey and the reasons they're the fight is the way we see it is because if you look at the internet like a bank the internet service providers are a bit like the bank they're controlling the flow of information the way the bank controls the capital these companies are upset because if you give the. company telecommunications companies the extra hand. they are forcing the competition pay more for their they're going to tragic and they basically are represented in the interest of the democrats they're trying to say this is like a public library we need to keep it and thank you so much artist on your part thing and.

it's an ironic turn of events the chief of sweden's largest security for it was declared bankrupt after being hacked and having his identity stolen the perpetrator used the identity of security c.e.o. alpha goran sent to seek a loan after which a bankruptcy application was filed in gore instance name he didn't know he'd been hacked until this week when a one page bankruptcy document bearing what was purported to be his signature. placed in his hands he has now won an appeal at the july tenth bankruptcy decision by stockholm's district court sweden the leads the way digits digitization of consumer spending on goods services and loan seeking so of course this has raised rates of identity fraud with over twelve thousand eight hundred hacked identities reported in the first six months of this year alone. and federal reserve chief

janet yellen has begun two days of testimony the world is set to hear more about the fed's take on the state of the economy and hints of another interest rate hike but let's back up first this is what she said just weeks ago in london when asked about the possibility a calamity happening of another financial crisis. which i see you will never ever be in those or financial crisis you know probably would be going to four but i do think we're much safer and i hope that it will not be in our lifetimes and i don't believe it will be. not in our lifetimes well yellen indicated many systems are in place to prevent such a thing now international monetary fund chief christine legarde has just chimed in saying she plans to have a long life and the dangers of another crisis are never far away take a listen were you to come from what form it takes. into emotional and broad based. is to be seen. well the guard stressed after that that the predictability

comes from the cycles seen over the last decade she also emphasized the importance of tightly monitoring economic health in all areas just to backtrack the financial crisis nearly a decade ago meant that seven point five million americans lost jobs in the u.s. housing market crash fueled in part to put it simply by a drop in mortgage values. well according to federal reserve chair janet yellen testimony on capitol hill today the economy is growing steadily and interest rates given current circumstances would not need to be raised much further after statement the dow jones industrial average reached a new intraday high surging over one hundred sixty points here to look at it in more detail is former u.s. attorney mr barch shelton bart you are a veteran of capitol hill how is your testimony received. you'll read the call that

. it was received pretty well you know these fed chairs or fairly obtuse in their responses they try to not go too far either way alan greenspan famously said if you think that i've been very clear on the point you've misunderstood me and she was like that to a large extent she got grilled on a couple of things there was a congressman who wanted to know if they would not do in the additional regulations on big banks that at the fed until vice chair was confirmed by the senate vice chair who was nominated just a couple of days ago on monday and so overall it was it was well received she actually testifies to morrow also before the senate they do the house financial services committee one day they do the senate banking committee tomorrow but she was fairly positive as you said she said there may be more rate hikes but not that many rate hikes wink wink smile smile who knows let's look at some of the economic

indicators that the fed examines and talks about. the as they make their decisions for thought growth and inflation key data points good but not great you say yeah i mean you know we were we ended up one point six for gross domestic product last year and we're not doing that great the first quarter was one point four and you know the main numbers weren't great either and as we recall the benchmark for the trumpet ministration shifted from six percent growth to down to sort of a new realistic low in their minds of three percent but even that being charitable three percent would be a big challenge to reach so it's growth but it's not overly great growth the average by the way to go back in the ninety's we had three percent growth in two thousand and sixteen there were two thousand fifteen rather there was two point six percent growth that we are looking pretty good but over the thirty forty year history it's usually two percent growth so we're below par we need to do better

hopefully things will change we will well it looks like at employments not doing too bad we got positive numbers last week you having with me going to twenty eight come on to talk about writing a report came out and averaging one hundred eighty thousand jobs per month so again good not great like some of the other things ok housing and mortgage applications what are we looking at i mean there's a tighter focus on not allowing to much is a credit here but i think that housing is a mixed bag lindsey so on new housing starts they're up over last year three point six percent on existing home sales down eight point six really over last year down more than people would have thought and you can combine it with that is that you would assume the mortgage applications are down because people don't want to buy new homes and those are down significantly upwards of thirty percent from this same period last year so not as positive as it had looked earlier in the year but still a mixed bag and i think sometimes that the seasonal thing now i mean they will they

always carry loaded. right and they have you know if your progress is until the fall so you know april may june but not it so they have increased the sales had increased but not at the rate that they had again eight point six percent on new and existing home sales from last year down so it could be better yeah ok oil prices we can't seem to get away from that right now it being their warring mid to upper forty range kind of lower sometimes last several weeks we've seen about made forty range effects exactly forty five forty three as of i don't know a little bit ago you have a check famous that doesn't yesterday doesn't seem to have that much of an impact on gasoline prices by the way which are like it to twenty six i think worse you've seen worse and they are worse in a couple of places alaska and california but by and large they are only three cents above where they were a year ago but the interesting thing and this is just sort of breaking news from

a few hours ago when opec put out their monthly porton the energy information agency put out a report that the saudis and as you recall opec along with some other nations had a cap of one point eight billion cutting production by where i point eight billion per day the saudis exceeded their own cap there the adults and they're the ones that are supposed to be leading this so some of the other opec and non opec participants in this production may be looking at that part of the reason by the way are opec members who are not a part of the deal because they were exempt and it is in libya you got it exactly and so we'll have to have to see what happens the energy information agency earlier today said that they do in to supply a demand will increase somewhat being a little bit more than supply going into next year but there's nothing on the horizon that says that we're going to have some wholesale change in oil prices that doesn't stop the bank researchers by the way from making predictions goldman said

in the last couple days down to forty. dollars in the near term city said up to sixty dollars ideas if you just get so frantic when they get in this is that like you know a new show you got to fill your rundown with information but it's got to be correct information you know what's up with the come on all right interest you know it's maybe an off the air conversation from somebody who looked at what the research arm they all made their banks predict and then how their traders go and trade on that so maybe maybe at some time in a different form i'll explain i'll get some coffee and talk about that let's move to retail sales huge compound of g.d.p. what are we looking at so far this year well not as good as we had hoped you know three percent three point six percent was the increase last year three point eight i'm sorry maybe they'll get to three point five percent this year but the tough part has really been two major segments one is restaurants people are eating out as much and two and this is sort of the eight hundred pound gorilla and that is auto

sales those are way down now yeah i think all the time they unfortunately the average going back to like nine hundred sixty seven is six million vehicles per month produced in the u.s. we're down under we were at four point one a year ago now now we're down at three point four million per per per month so it's not as good as we'd hoped you know autos were on a tear up until december since december auto production has been going down so not so great right now let's say retail sales also you and i have talked about the analysis of retail sales used in these measurements it's changing a lot we're looking at online retail sales some stores are changing with acquisitions they're classified differently do you think it's core sort of an antiquated approach that we've gotten used to look at these consumer spending trends particularly yes in a word but particularly with regard to e-commerce so e-commerce is what supplanting a lot of these brick and mortar stores whether or not it's you know wal-mart or

j.c. penney or sears or something the. the e-commerce is really the saving day for the restaurants and the autos so e-commerce was up thirteen percent last year and it will be well up above thirteen percent this year but i do think that looking at e-commerce and figuring out the formulaic way that we look at retail sales is something that they should be doing all right trade comes into retail sales how real looking with that with trade that's a fact often not so great two thousand and fifteen two thousand and sixteen over five hundred billion with a b. dollar trade deficit that so far today if it continues would be seven point five percent higher so the trade deficit could even surge this year now you know maybe with all these fantastic coal trade agreements maybe we'll have some that will change things in the future it's certainly not going to impact the trade

deficit this year the thing that could make the trade deficit even worse would be whether or not there's some sort of trade war some retaliation we've talked about steel quotas either obviously you know those things could have a negative impact on our balance of trade but trade still an issue as the president needs to be worked on do you know just to get your opinion on this do you think that the punitive measures on steel would actually come to come to fruition i know that he's talking about china to corner the market globally but with that do you think that would actually come to fruition there i've got to get your take on that i think we're going to do something you know i have had i do it it's going to be messy and i don't particularly like it i was a former steel worker member the largest steel workers union high school so i hope they don't from my old buddies perspective but i think they're going to talk about real quick before we go the latest rumor and this rumor fell town is that president trump's national economic council council director gary kahn is the president's top pick to replace janet yellen as that chair next year yeah maybe that should have

been our top line top. point here what do you think that the well known he's like one of the adults in the room mr cohen so i sort of hope you know the person was doctor especially as there is a god that i think the president looks to that he's thoughtful him and secretary neutral not that there's not others but mr cohen in particular he'd probably be very good but i'd like to see him do this now you'll recall that last year then candidate trump criticized janet yellen today they've sort of come back to an accommodation with her right now and so if i were a betting man i'd say she's going to stay and she get that happens early next year all right thank you so much for your insights on this pleasure as always former u.s. attorney commissioner bart chilton. it's

always captured people's attention from tales of a new world flush with that two stories of pots of gold at the end of rainbows well in germany two men who may be getting into a whole lot of trouble over a stolen gold coin the coin heist took place at berlin's bode museum in march not far from chancellor merkel's apartment after months of searching more than three hundred police officers took part in an early morning raid this week and now have two suspects in custody so why all the fuss over a simple coin well this canadian coin is called the big make believe it's over two hundred twenty two hundred twenty pounds with a market value of over four million dollars the fear is that it's already been melted down and turned into jewelry perhaps or even gold bars most of us just want to know how the thieves hauled it away. that's all for now everybody check out the show on youtube youtube dot com slash r t thanks so much for watching the next time .

the walk on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battles they don't believe the new socks for the tell you that will be gossip and tabloid but a little bit. of advertising telling you are not cool enough to buy their product. these are the hawks that we along with our audience will watch.

i think the average viewer just after watching a couple of segments understands that we're telling stories that our critics can't tell me you know why because their advertisers won't let them. in order to create change you have to be honest you have to tell the truth parties able to do that every story is built on going after the back story to what's really happening out there to the american what's happening when a corporation makes a pharmaceutical chills people when a company in the environmental business ins up polluting a river that causes cancer and other illnesses they put all the health risk all the dangers out to the american public those are stories that we tell every we can you know want their work in.

the menards the america the u.s. house of representatives this next one fairly new sanctions bill focused on russia and iran but then the latest bill and my president might be on board coming up. meanwhile russia's foreign minister sergei lavrov has confirmed a joint center to monitor the cease fire in syria it's been agreed with the u.s. and jordan but washington doesn't suit so pipes. and the u.s. led coalition in mosul fires back at amnesty international calling their reports are responsible and tonight in violation of international law in their fight against isis both stories and more coming up right now.