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tv   Boom Bust  RT  October 12, 2017 8:29am-9:01am EDT

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i'm with the francis broadcast around the world from washington d.c. tonight u.s. chip maker qualcomm is set to pay off in asia as regulators last find on its a fair trade violate and also mr newdow goes to washington we take a look at the visit of the canadian prime minister to the white house lots of trade to discuss there and then my guest former u.s. trade commissioner bart chilton joins us he brings the california wildfires into focus it's a bigger problem than just flames we've got an entire industry affected and funding questions to have answered stand by us start right now.
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one just ahead with developing artificial intelligence quantum computer and fin tech which is essentially a i for banking china's alibaba group is dumping fifteen billion dollars into research hubs overseas and it's hiring one hundred researchers to develop next generation technology ali baba now has a large e-commerce footprint in asia and for its acquisition of online retailer lozada dot com for two billion dollars it's also got data centers in europe the u.s. the middle east's australia japan india and now indonesia the deep pocketed firm says that with twenty five engineers now on its payroll it aims to serve two billion customers and create one hundred million jobs by two thousand and thirty six. and spanish stocks rose after tensions over catalonia his bid for independence
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eased somewhat after catalonia as president backed away from plans. to immediately break from spain following the results of a disputed referendum in favor of independence in a speech the regional president said he would delay the declaration of independence for several weeks to give dialogue of chance the spanish central government responded by asking for clarification and leaving open the door to revoking some of the region's autonomous powers the spanish ibex thirty five rose one point three percent after the catalan regional government stopped short of declaring that independence late tuesday a regional president car less said should hold talks with the spanish central government after the landslide result in that referendum earlier this month madrid based government has given few hints it is willing to even talk since it does not consider the vote to be valid.
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i. for years u.s. based chip maker qualcomm has been accused of violating trust regulations as a result more than a few probes have been made into the telecom giant as you might guess now one of these just led to a record fine in taiwan bianka for she has more on this for us after years of allegations regarding and i trust violations qualcomm was fined hundreds of millions of dollars in taiwan on wednesday the country's fair trade commission claimed the u.s. based chip maker violated antitrust rules for at least seven years and that led to a record fine of seven hundred thirty three million dollars the taiwanese regulator said qualcomm created a monopoly by not providing products to clients that don't agree with its conditions and a statement on the web say the f.t.c.
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wrote qualcomm holds a big number of standard essential patents in c.d.m.a. w. c.d.m.a. and l.t.e. segments and is the dominant provider of their baseband chips it abused its advantage in mobile communications standards and refused to license necessary patents on top of the find the commission ordered the company to revoke deals that forced competitors to provide price customer names and other sensitive information so far qualcomm has yet to respond publicly on the move but if previous accusations are any indication it could fight back earlier this year apple filed a one billion dollars lawsuit against qualcomm over patent royalties and that came after a complaint from the us federal trade commission arguing it prevented apple from buying keek product components for competitors in a statement apple said despite being just one of over a dozen companies who contributed to basic cellular standards qualcomm insists on charging apple at least five times. payments then all of the other cellular patent
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licensors we have agreements with combined to protect this business scheme qualcomm has taken increasingly radical steps most recently withholding nearly one billion dollars in payments from apple as retaliation for responding truthfully to law enforcement agencies investigating that given taiwan's new find out will is likely feeling good about its accusations against the chip giant and are maine's unclear what effect if any lawsuit would have on that fine. we got some pretty good lawyers on its side taiwan's not alone though qualcomm's currently facing lots of. allegations where else they're kind of facing antitrust allegations all over the world we south korea china japan the e.u. and particular the e.u. . there so it's qualcomm is trying to buy an x p semiconductors which is a dutch company based in the e.u. of course and regulators there are trying to say that they'll buy it without.
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leaving out certain patents and already has but there are a lot of antitrust concerns in the e.u. if it were to go through it would make. the leading supplier an automotive chip so it would be a pretty big deal but again the commission still has yet to review it and it's unclear how this could affect their chances now ok so it could take some time what's the likelihood of qualcomm's bid for the next piece that conductor's actually getting approved well if you ask qualcomm they are feeling pretty positive in most of their interviews and any other sort of thing they'll say this is going to go down this will be complete by the end of the year like i just said it's kind of unclear how this news out of taiwan today out on wednesday could impact that maybe it won't at all. it will have some sort of influence but another thing to remember is that the e.u. . the european commission has sort of had this crackdown on american tech companies
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over there whether it's facebook apple google and you know they are it's their way of protecting european companies and consumers so with that sort of trend continues you know qualcomm might not have as much luck as they are suggesting that they're going to have by the end of the year right bad timing for this to be happening right now yes i'm going to tackle and they antitrust and all these chemical companies want to vent thanks for following this for us to bust down. canadian prime minister justin trudeau met with president trump as concerned to grow over the u.s. leaders actions with issues both at home and abroad trudeau is in washington in hopes of finding common ground between the neighboring countries and he's brought what some say is the most powerful to all charm and high ledges enter on to where he is following the story and bringing us his most powerful tool his charm prime
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minister trudeau. during a very volatile time the u.s. government to say the very latest the president's receiving harsh criticism even from within his how his own party is so what is true does agenda. looks like us canadians we are charm for everything it seems this is a charm offensive some are calling it what trudeau basically walked to the front of the white house with his. millennia was there with mr prime minister president i should say donald trump and it was all hugs and kisses at that point everybody seemed very happy to see each other than what is the white house and the conversation went on from there everybody saying how friendly our two countries are with each other and how much we love each other i might be changing the words around a little bit but that's basically was the tone that bottom line is though there's a cloud hanging above our heads and that will the biggest part of that cloud is called the nafta and now the day after agreement we just heard from the forbes magazine this is a quote from their president trump said i happen to think dr will have to be
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terminated now that's not something that canadians want to see but there are some contentious issues there specially when it comes to automobiles now what the states is asking for is that fifty percent of all cars made in north america but the parts are made in the u.s. as we know parts and cars are made in mexico canada as well as the u.s. there are assembled in all three countries the parts are made in the three countries and there happens to be a way that we traded and move things across there is a whole system at work there that would be very expensive. the change the supply change management that works right now companies are saying it could be next to impossible but it wouldn't even be worth it to change these things around for a can of that whole fifty percent equation is a very scary thing also we've talked about this before the three hundred percent tariff that was popped on to bombard by the us. versus boeing is the big big battle there are two aerospace companies one in the states one in canada and the states are accusing bombard of not only getting subsidies from the government but also
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dumping so just basically lowering their prices to beat out their competitors in the states third when it comes to nafta back to nafta would be lumbered lumber something we've discussed preen after during now if there is going to be the discussion for ever one thing here though what we're hearing from donald trump now is that he might really screw up nafta but if he does that there will be a new bilateral agreement between canada and the states and mexico seems to be his sore point not canada so again donald trump these are the types of seas used in business for years and years of this is nothing new prime minister trudeau knows that but he also knows that he has to cover all bases earlier on before meeting donald trump he met with the with the very powerful committee in the in the states will be the house ways and means means committee a very influential group it's not usual for a world leader to meet with these people but he knows that he has to talk to people that are forward after in the states and that's why he made that meeting happen as
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well there's a huge lobby in the u.s. business lobby as well as political to keep nafta afloat so and these are some of the people that are close to donald trump as well they believe that nafta should be something that continues in the future ok well the meeting took place on the heels of canada's foreign minister strasse think that the world is a last fabled place today many are taking that as the last table because the president trump over the words said in a statement well it really is i mean if you read between the lines that it would pretty much is a direct hit towards donald. but it's all again on the back of what bob corker said and we know the above corpora reason republican senate foreign affairs committee the man basically saying that not only do we need adult supervision in the white house but that president trump might be leading us to world war three now what foreign affairs minister freeland said is i quote and here is the quote board there are a lot of things that are concerning in the world right now i think this is probably
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the most uncertain moment of international relations since the end of the second world war obviously we're talking about the trump administration here she also went on to say the post-war order has really worked with time it has embraced more and more people into a peaceful prosperous world world it's been great in that order is starting to fracture as a result we're seeing tensions in a lot of different places and she did mention north korea she's also saying that the state of the world right now is very similar to where we were pre world war one countries dealing with protectionism globalization movement terror do you know that she's saying that this is the atmosphere is very similar and this is something that we really have to be careful with we've also heard from within the u.s. administration one a high level. person within the u.s. military spoken honestly can through the canadian press this individual said of john kelly defense secretary james battus or national security advisor h.r. mcmaster were to leave the government everyone should start panicking so this move
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that we see seems to be crossing borders it's not just in the states it's pretty much worldwide and obviously you see that it's hitting canada as well bring in the time to bring in the hard hitting tactics as well thank you very much for joining us from toronto have thank you but i had to break out a stick around because when we return russia's central bank but the clampdown on dakar and and then wildfires and why california is burning the wine industry there is suffering we take a look at the implications of this as we go to break here are the numbers the closing bell. los angeles the city of luxury and free but also an alarming number of people
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living in the streets. simple fact in l.a. is there's just not enough shelter even if people on the streets right now decided to come in there's nowhere to come in it's been a struggle. this man from his own response to the problem and constructed dozens of tiny homes for people in need of shelter when you have nothing in order to go. you know having something like this may as well be a castle. parking space is not a solution. to someone wanted the site otherwise it'll be a free for all. to end the homelessness crisis. and. there's.
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no other place i didn't intend to do that. just. blows the glass. and we're not going to stumble we're going to run the truth. through the streets in the streets. whom you know. become worthless. colin is still exist. ricos treated as one visitor annoyed.
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and then thrown him along on the portals recall. and i knew i wanted to see and they could be seen on the island is controlled by the us government and some puerto rican screwed even dependents. you know may go. either way like that i mean what i mean. still many do wish to join the us hundreds more leave every day. with the country at a crossroads of the island is on the rise. of .
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the russians under a bank says it is that the block the trading of crypto currency speaking at a conference in moscow the banks first deputy governor sergei shuts off says it can not be tracked it can be used for crime so no he says we cannot stand aside we cannot give direct and easy access to such dubious instruments for investors their frequent exchange website will have blocked access he says now russia accounts for only a small amount of the bitcoin market china has recently clamped down on crypto currency but social media sites have proved a very fertile ground for traders there who now face heavy penalties for operating undercover meanwhile japan's financial watchdog has approved eleven companies for between trading. and china macy's. success in its push to change the petro dollars to zero on the us dollar would of course take a direct hit if others follow suit and the dollar was abandoned as the world's
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world's reserve currency saudi arabia may have agreed to sell its exports in dollars as far back as the late seventy's but as china imports more and more oil it's become irritated at purchasing it in dollars from oil powerhouses like the saudis carl weinberg chief economist and managing director at high frequency economics says moving oil trade out of dollars into your we'll take right now between six hundred billion to eight hundred billion dollars of worth out of transactions from the dollar that means a stronger demand for things in china whether it's securities or whether it's good goods and services it is a growth plus for china and that's what they want to happen in september heading out u.s. economic and political sanctions against the government of president nicolas maduro venezuela publish the price of its oil and fuel in chinese currency. and california wildfires are raging and one of the worst fire disasters in the state's history and
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it's far from over and more than one hundred fifteen thousand acres have been consumed neighborhoods destroyed and at least twenty one people killed the fires started late sunday night and quickly grew due to high winds and some twenty thousand acres burned in only two hours as residents were caught off guard and fled their homes with little more than the clothes on their backs former u.s. trade commissioner bart chilton previously served as the deputy chief of staff of the u.s. department of agriculture which oversees the forest service part thanks for coming in to talk to us about this terrifying disaster you had some experience with fire disasters over the years we see the devastation occurring are these fires different they're a little bit different linsey one the fire season which normally does store in the west and particularly in california in october becoming longer and longer primarily most. scientists say because of climate change and even this year there is a whole lot more fire of the effect we've had twice as many fires already this year
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than we had in all of last year twenty sixteen so they're a little bit different right now usually these fires in california not all the time but usually they start in southern california you know these are different and these are coming off the diablo mountain then they call the do ya blow winds and the winds that really help push these fires forward were on sunday night about ten o'clock local time and they got up to seventy miles hurricane starts at seventy four miles an hour those sorts of wind the huge winds and that's why when you when you're opening why you had so much devastation and destruction in such a short period of time and it's continuing there was a little bit of a low yesterday because there was higher humidity and cooler temperatures but today they're right back at it again and the winds are going to be up to fifty miles an hour they're reporting at two am later in the morning so could could get worse
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before it gets much better what a lot of people don't realize how fast fire moves i'm from wild fire country washington state as a local news reporter you're always covering these things it moves so very quickly it's breathtaking to see and it's just devastating the governor there california governor jerry brown has declared many counties disaster areas the top administration has promised to provide assistance can the federal government actually help on this and how does it go about digging in to help well there's a couple of different things the federal government does one they can provide a and the house and senate here in washington are working on a thirty six point five billion dollars disaster aid that's the hurricanes and wildfires wildfires are only. five hundred seventy six point five million of that thirty six thirty five point six billion is still a small percentage but the main thing that they can do. and by the way that's money is really needed for fire prevention because the administration saw a three hundred fifty million dollars cut in right vention and firefighting you
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know fires are going to stop as we've discussed a moment ago it's year round we believe that and you know that i'm learning so. the cool thing that the federal government does and this is neat that was when i was at u.s.d.a. in two thousand i oversaw part of what they call the multi-agency command and that was the worst fire year we had in fifty years in two thousand and the the assets that the federal government can put in place are really neat and helpful they've got lots of planes they've got c. one thirty s they've got d.c. ten as. the retardant and now they're moving into the gels the gels that they they put on they hold a lot longer they have a lot more moisture in there that they can last for hours as opposed to the foam which lasted fifteen or twenty minutes and they've got helicopters and they've got those really marvelous and brave smoke jumpers jump out of the planes and with
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parachutes and and so anyway they have a lot of resources and they don't just deal with the one hundred fifty four national forest in the system they deal with places all over whether or not it's pure a land bureau of land management land or whether or not it's wineries in value or in sonoma right now gotta get out there not only you know fight the fire but dig fire line and do the things that take a lot of manpower very expensive someone so not getting enough money federal disaster resources have certainly been challenged with all the recent hurricanes but also as you mentioned firestone got a lot of funding here which is just insane to me you think the federal government is really doing what it can local ballots by the way in states such as washington are being ratcheted up asking people for higher taxes to pay for fire services because the federal government they just say it's not giving them enough what's your take on one hundred percent there needs to be more money. this and this isn't just a parochial thing as a former government guy government guys i want more money i mean our first responders for fires should not be volunteer fire departments in college you can't
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for a lot actually ask. and you know look i don't want to say anything negative about the forest service certainly the new forest chiefs tony took just took over like last month sonny producer director culture is doing a great try the president hasn't tweeted you know i mean you could get a little love on his tweets he's still out on the n.f.l. exactly want to have a secretaries to an i.q. test but by and large i think the government is doing a good job federal government along with the state government is doing a great job they've even got in california the department of forestry has a cool plane it's a seven forty seven four hundred that can drop eight or nine hundred thousand two hundred gallons of gel so everybody's all out is just as you say unpredictable because of the wind lindsey all right well we all know the area where the blazes began it's in the famous wine growing region rivers of wine now that they're saying are flowing because all of these grapes and everything is just totally decimated
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apart from the structural devastation we're talking about what about in the human tragedy clearly that's being very much covered in the media what about the impact on this this industry well i mean whine is hugely hit now there are six hundred fifty wineries you know in that area thirteen percent of all the california wine is grown in just those two counties and sonoma and napa it's a big deal the good news if there's any good news at all is that seventy five percent of the grapes have been harvested what's left the twenty five percent is primarily cabernet and a low and we'll have to see when they get into the vineyards and and some of the related orchards whether or not there's a big problem there but even if they don't get charred and burnt the bottom line is even ash and smoke can reduce the quality of the wind right when you in a couple years from now don't they. because two thousand and seventeen is like a really good one year and just real quick the bottom line is there's also other
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livestock and agriculture there there is the sheep and goats and cattle and lots of there's even medical marijuana producers there so lots of people are impacted by this really devastating right inferno that's going on and with agriculture we all know or we should know you cannot just rebuild you have to be cultivated that it's very painful to do with great points absolutely thank you very much former u.s. attorney mr park shelton. we need to talk more about the total damage these fires have caused in california on the economic impact will have on wine country as we mentioned we turn now to our to correspondent in tosh a sweet and los angeles natasha what can you tell us about this. well in the a whopping three thousand structures have been burned and fire officials say some of these blazes are still nowhere near under control all the tops fire has burned twenty thousand acres with no containment level sited and in yuba county the
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cascade fire is at eleven thousand six hundred eighty five acres at only twenty percent contained and as of tuesday evening some seventy five thousand customers were without power on some cases some lines were cut to prevent them from endangering first responders and as bart told you the napa valley and snow meridians of california are being hit hard by these fires and it's more than likely going to have a harsh economic impact on the wine industry well according to the napa valley ventura's association the region contributes more than thirteen billion dollars to the local economy and more than fifty billion to the national economy annually well that's not including all the tourists that come through the region luckily for these wine producers many grapes have already been harvested at this point in the season but what remains to be seen is how the fires will impact the remaining harvest instead. the paradise ridge winery burned down earlier this week and luckily no one was hurt in that accident but it's possible up to thirty percent of
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the remaining great purpose was completely lost well that's just one example of many wineries that are suffering from these fires and we don't know yet how many of the four hundred seventy five wineries and napa valley whomp and affected but we do know at this point is that in napa and sonoma county fire is listed at twenty six thousand acres with three percent containment and roughly three thousand two hundred evacuees are seen in twenty eight different shelters all across. this devastating lot of families having to rebuild up through the holidays very sad looking forward thank you very much our to correspondent natasha sweep for us in los angeles. well who would have thought the mexican food chain taco bell would be anything more than i go to for people wanting a quick brito or the late night answer to a craving well now millennium goals are all over or rather it's all over them and their clothes clothing giant forever twenty one is debuted taco bell logo threads
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everything from t. shirts to crunch wrap to bodysuits to those oh so popular cropped hoodies and blazing with the logo it's fast clothes and fast food word has it that super fans are even shooting their senior portraits in the talk about threads i'm sure they'll have no regrets in twenty years or so thanks for watching be sure to catch on direct t.v. in the united states you can find us on the r t channel three two one and if you missed us on directv catch us on youtube youtube dot com slash boom bust r t thanks for watching see you next time. sputnik was sent to space before many soviet citizens had running water as moscow regained some of its influence many russians still don't have it what will it take for russia to fully turn its own. so.
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you got on ploy artist types who can't get jobs some of them turn out to be green no defining ours through the vision that they present and they end up in some weird crack ridden drug house like east berlin or the lower east side of manhattan or so how it meant and then this attracts the buyers of the big money and the gallery and then that attracts the house flies in the suburbs and then that attracts the property speculators and then they push the artists out. here's what people have been saying about rejected and then it was to us it actually was full on awesome the only show i go out of my way to launch you know what it is that really packs a punch oh yeah it is the john oliver of r t america is good to see we are
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apparently better than two thousand and six and see people you've never heard of love redacted tonight not the president of the world bank so terry was writing a seriously he sent us an e-mail. a new york times that is how to use alleged acquaintance that you change corporate meaning the way mainstream on social media manipulate the news. very rare cases. try to make up for the fact that something isn't in the trend but in most cases to . use something with intervention to make sure that we. do. encourage the thing to do basically. films the legacy of islamic state in liberated areas of syria we go inside the terror groups form a police station and prison many innocent people lost their lives.

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