coming up disney's purchase of twenty first century fox could mean more than just antitrust and cable bundle headaches in fact it could be big changes all the sports programming we'll talk to the aftermath of about that plus can we expect a jump in gold prices next year peter schiff of europe pacific capital and gold will tell us what we can see now let's get to today's top business and financial headlines. point might be hovering around seven hundred thousand dollars there are still plenty of critics that say it's way too risky to get involved in and you can now include one of bitcoin dot coms founders on that side of the spectrum and the oldenburg c.t.o. and co-founder of the site recently said in an interview with break it investment in bitcoin right now i would say is the most risky investment you can make it is an extremely high risk he added i've actually sold all my bitcoins recently and switched to bitcoin cash although he only reverted to

a cash spinoff his criticisms of bitcoin like the high transaction costs and amount of time it takes to complete them came as a shock to many and those surprising comments come on the heels of more bad news for crypto currency with one major exchange in south korea shutting down and filing for bankruptcy after suffering its second cyber attack in eight months the appian which operates the seoul based you but exchange ceased trading on tuesday in a statement said the latest hack caused the company to lose seventeen percent of its total assets but didn't specify the financial value of its losses. and in the latest round of merger news we're seeing big moves in the food and health care industries the new jersey based campbell soup is spending four point eight seven billion dollars to north carolina based snyder's lens is known for its healthy snacks like spiders of hanover kettle brand and pop secret all. which will become

part of campbell's division that makes pepperidge farm and goldfish snacks meanwhile hershey foods located in pennsylvania is buying amplify snack brand of texas for one point six billion dollars amplify makes skinny pop and other non chocolate snacks that her she is hoping to integrate into its businesses but still the major changes in the food industry have not been able to outshine the mergers in health care at least not yet not long after we learned that c.v.s. is buying aetna humana and two private equity firms announced their purchase of kinda health care for four point one billion dollars the deal mainly impacts kindred at home which employs forty thousand caregivers who serve nearly one hundred thirty patients per day. thank. you after disney announced its plan to acquire parts of twenty first century fox questions about everything from competition to cable bundles quickly

popped up but there are just as many if not more about the future of sports broadcasting here to talk more about that is victor matheson professor of economics at holy cross victor my main question is if twenty first century fox which is one of the most successful media companies in the world doesn't seem value in holding on to these regional networks why does disney think it could benefit from them. well so one of the nice things about these regional networks so there's a twenty two what regional networks that are put into this deal is that. e.s.p.n. which is part of the disney empire thing so there's some good synergy between them and these local companies so for example you could imagine the local companies benefiting from the branding of the of the big name like e.s.p.n. as well as access to national talent from the european on on air talent pool on the other hand what u.s. pm gets out of this is they get access to roughly fifty local teams and the

broadcasting deals there and so you have this kind of nice deal where both sides benefit the local companies can benefit from the expertise of the national company and the national broadcaster u.s.p. and benefits from having all this additional content so as he has said disney went to e.s.p.n. controls twenty two fox sports or is a regional networks that have the rights to forty four professional baseball basketball and hockey teams so is saving e.s.p.n. the main reason why you think disney went after this acquisition. so i wouldn't say this is a primary piece but this is probably about half of the deal really is tied up in these the acquisition of these sports products one particularly important thing is in today's modern media world it turns out sports are one of the few things that people still watch live and so it's still one of the things that you can actually

sell commercial advertising to very well with so many people coming to cable and so many people watching all of their television shows either through streaming or by recording it on d.v.r. those are things we're tarred to get eyeballs and from the commercials we watch sports live which means it's a lot easier to get people to actually stick around and watch those commercials which of course is where yes p.n. makes all their money what do you think this deal long mean for consumers or consumers is there anything that you think could change drastically or will it stay the same pretty much. so consumers it's hard to know whether they're made better off or worse off with this certainly one thing yes p.n. is thinking is if they control both the local sports fans local teams as well as the big national package that makes it much more difficult for that local councillor to cut the cable completely e.s.p.n.

is typically the most expensive single channel single channel in a person's t.v. cab package for cable so yes pm is trying to figure out ways that they can make sure that those local watchers those local viewers that they stick around with the cable package and one way to do it is to make sure that look i've got all the big national t.v. games on e.s.p.n. but i also have all of your local sports teams favorites of the of these new newly acquired local regional fox sports networks well on monday as panel president john skipper an announced his resignation and in the summer jamie horowitz president of fox sports national was fired and they both left for different reasons but does it matter that both of them are now gonna mean what do you think this might mean for the industry moving forward in a general sense. well so i think the really interesting question from kind of the

national broadcasting landscape is what happens to all of the you now fox sports networks so what is not included in the disney deal is the national fox sports the epis one fs two whether whether those remain as a big competitor to e.s.p.n. or not one thing that we believe that's happened we don't have all the financials but we believe that the national t.v. contracts for for fox sports the national channels were being highly subsidized with the money they were making from their local channels so it'll be interesting to see whether fox sports as a national channel can survive without all of its local feudal shinners buter channels bringing in all that revenue is piano's constantly criticized as being too political so do you think by joining forces with fox sports which has been operated by the same people that run fox news and cox business network well help that all.

so i find that pretty hard to believe again there will be a pretty strong break here again fox news is not part of the deal so with it when we say that disney has acquired twenty first century fox they're actually acquiring to the stuff except for fox news as well as the national fox sports so i would suspect that doesn't do a whole lot for e.s.p.n. political image because i think you know again fox news and the very conservative political arm that's going to stay active and is going to stay step separate from this particular deal right well i want to ask you now about the n.f.l. which has also had some issues over the past year or so to say the least panthers owner terry richardson is selling his team over allegations of sexual assault and making racist remarks to employees so how much of a risk is his sudden departure to the franchise which is estimated by forms to be

worth two point three billion dollars. i suspect that getting rid of the owner. means that the value of that franchise hasn't gone down in value at all again it's something where the centrally as soon as the public knew about these these allegations the owner is separating himself from the franchise while the franchise is still valuable it's very unlikely that the franchise will be drug down will will be dragged down by the owner you know unlike for example the weinstein corporation getting dragged down by those sexual al misconduct allegations probably not the same thing is going to happen here again based on how quickly this happened and and also of course the panthers it with the owner as for example is with part wants to a lot of notable public figures and business and politics and even entertainment have expressed interest in buying the panthers including collin kaplan excel

assuming just for the sake of this question if he had the billions of dollars up in if he tried to buy it or if he ended up buying it. so the n.f.l. does have a fairly strict ownership clause where the fellow and at n.f.l. owners can actually block access of purchasing a team from their fellow owners fairly direct it is at least rumored and probably more than rumors that the other n.f.l. owners for many many years did not want donald trump as a as a fellow owner and and in fact in the one nine hundred eighty s. donald trump essentially started his own rival football league the u.s. of felt it only survived three years before declaring bankruptcy but basically started his only when the other n.f.l. owners wouldn't let him be part of his club i would suspect that you would find the n.f.l. owners not looking kindly on an ownership group that is that has conquered i guess as part of that group they are matheson professor of economics at holy cross thanks

so much for your time today thank you for having me time now for a quick break but stick around because when we were turned we'll see big price fluctuations in commodities like gold and silver next year peter schiff will tell us what he thinks we can expect and has the trades happening belling and bargain finally on r t correspondent alex and helen that will fill us in i think what a break for the numbers at the closing bell. the single most important social equalizer of our time the internet is under great threat the decision by the federal communications commission essentially gives internet service providers the keys to the internet without a net neutrality will be economic opportunity divide only widening for all. how

does it feel to be a share of the greatest job in the world it's as close to being a king as any job there is what business model helps to run a prison now we just do or don't like it nobody you know visitation they don't no one comes anymore we don't have to sarge me anymore it's cost effective that's what they want to do that as long as they don't give a damn if you do the chores or not they're actually paying us to put it back into. the louisiana incarceration rate is twice as high as the u.s.n. breach what she could is behind such success. hey everybody i'm stephen both. hollywood guy suspects every proud american first of all i'm just george bush and r.v.'s to say this is my buddy max famous financial guru well she's a little bit different. going to the well you know with those up with all the drama

happening in our country i'm shooting the brood have some fun every day americans. look to the store to bridge the gap this is the great american. the world's biggest emitter of greenhouse gases is trying to train and pollution now leaders in china announced on tuesday that they approved a plan for a carbon trading system initially it will cover the country's power generation plants but the intent is for it to spread to other sectors like iron and steel aluminum petro chemicals and so on according to the plan power plants will be issued in allowance to emit a certain amount of. dioxide plants undershoot their targets and they can sell

their excess permits to other generators by having the government put a price on emissions that prevents companies from passing on the environmental costs to the public currently china's power sector releases three point three billion tonnes of carbon emissions per year and this plan might not be in place for at least another year. back in may an infamous cyber attack known as want to cry hit hospitals banks and institutions all over the world and now the trump administration believes they know who did it in an op ed in the wall street journal homeland security adviser tom boss or said that it was north korea that was responsible wrote we do not make this allegation lightly it is based on evidence we are not alone with our findings either other governments and private companies agree the united kingdom attributes the attack to north korea and microsoft traced the attack to cyber affiliates of the north korean government he then called on the

private sector to quote increase its accountability in the cyber realm to stop north korea and other bad actors from having the ability to launch these types of attacks and applauded microsoft for investigating want to cry on its own. despite rising interest rates or a jump in crypto currency prices a new report from the world gold council says gold prices will continue upwards in two thousand and eighteen to talk more about this we're joined now by peter schiff c.e.o. of euro pacific capital and chairman of schiff gold peter in the world gold council report chief market strategist john reid points to increasing global income as a reason we could see gold rise but where exactly is income off to make that much of an impact. well number a lot of the income is a function of more money right egocentric says are going to be rising not just the

price of gold but i do doing i doubt if you think he's right to gold the fed hard to know if they're going to deliver on those rate hikes but even if they do is going to be against the backdrop of rising inflation or where real interest rates are actually the co you could get two hundred fifty basis points of yield in europe buying u.s. treasuries and hedging your currency risk today if someone in europe buys a u.s. treasury the yield is about negative sixty basis points so despite these rate hikes the yield on treasuries is lower not higher and i think that you know those who go even lower as the dollar continues to fall against not only the euro but just about every other currency on the planet while the dollar is down as congress is pushing hard to get a bail in front of president before the holiday break so do you think investors eyeing the dollar in gold are starting to maybe worry over the actual impact of the new tax bill. well they should be worried if they're not worrying now because what

this tax bill is going to produce is much larger deficits because while there is some relief from taxes there are some tax cuts here it's not tax reform it is tax cuts but the tax cuts are going to deplete revenue coming into the government as government spending is increasing unchecked and in fact i believe they are underestimating the impact of the deficit because a lot of americans are going to change their behavior as a result of the changes in the tax law to take advantage of the loopholes that they are opening up a lot of people who are now employees are going to become independent contractors and they're actually going to pay twenty percent lower taxes than what is being assumed when they are judging the impact and i also think a lot of the states are going to change the way they tax their citizens i think they are going to lower their income taxes on wages and salaries and instead have taxes on employers who pay wages salaries the impact on the employee is the same

but what it means is that now the employer can deduct those costs on their taxes and so the government is not going to raise anywhere near the revenue they think from the limitations of the salt adoptions so you're going to see a huge impact on the deficits which are going up anyway so rising budget deficits are very bearish for the dollar because they mean the fed is going to have to print a lot more money to buy up all the bonds that the treasury is going to have to sell to replace the tax revenue it lost some have suggested that bank coin has been responsible for gold's depressed returns but others say that it can be a bit quine because the assets have different uses so what do you think the cause of recent depressed returns on gold are. well i think you've got the tail wagging the dog i think one of the reasons that bitcoin has been so successful is because gold has done nothing really is spend so quiet the last year and i think

a lot of people maybe who might have bought gold have bought bitcoin but i don't think that has done much to depress the price of gold but i think that has done a lot to cause the price of bitcoin to skyrocket and i think probably one of the most dangerous things for bitcoin if you're involved in that bubble would be a big increase in the price of gold because once the price of gold starts to move now people want to own real gold they don't need to own what they believe to be digital gold but what i believe is is nothing more than fool's gold and so gold going up could really be the pin that pricks the coin bubble peter schiff c.e.o. of euro pacific capital and chairman of ship called thanks so much for your time today my pleasure. canada and britain are at a critical point in a battle with the u.s. aerospace giant boeing on thursday the u.s. international trade commission spent the day listening to testimony with both sides

accusing each other of breaching trade rules artie's alex and hell that is in toronto with more for us alex what's the latest from the tribunal. we've been waiting a decision all day but nothing yet this tribunal is going on the hearings are still going on but look let's break down what's going on what is boeing's complaint here now the main complaint with bombard a is they basically are saying that bombarding is dumping planes into the u.s. and we're talking specifically about seventy five c. series jets that were sold or a deal was made with delta airlines the planes were sold at twenty million a pop at the list price is thirty three million and what boeing is saying is that this just is not fair it's because you get subsidies from the canadian government that they can bring the prices down so low now we know that back in october the u.s. commerce department ruled in favor of boeing putting a three hundred percent tariff on the c. series jets but this is what they're discussing right now and of course this could be overturned but as it stands discounting chats really the big picture is is not

something that is uncommon like we've see it usually is usually about a fifty percent discount was uncommon here with a little bit different is what we're looking at about sixty to seventy percent that's a big difference so that's i think really what put this on the radar now from the other side we're talking about from the canadian the british side they're saying that there's speculation that boeing itself was also getting subsidies or at least help from the u.s. government that's the brits argument and the canadian ambassador also came out and he said that when we're looking at boeing aircraft their really is no proof here that boeing is losing anything in this deal that bombards j. has with delta that's a first name and second of all there's a lot of jobs on the line not only in the u.k. and canada but in the u.s. as well and to give you a quick quote from the canadian ambassador the next step up here is what he's talking about is that this is really sort of the trumpet genda the the whole fact

of isolation of policies that are coming in states and this is what this is whittled down to what are we seeing what we are seeing here is because in large measure. the rhetoric that exists in the united states at the present moment and i'm not just referring to one source of rhetoric i'm talking broadly about the trade rhetoric it's given us companies the permission to take action they wouldn't have taken before and that's a canadian ambassador to the u.s. so really this is a big picture thing and he's saying that boeing is brave enough to do this right now just because of sort of the trump policies in the way they're moving so it sounds like there is a lot going on here and we need to sort of touched on this this could mean a lot from jobs in both countries but what else could this mean for about size song soured well really look at and i think you just hit the nail on the coffee over the last day of the coffin right there maybe it's in a coffin actually let's take the auto company out of there question but you hit it right on the head there were saying that it really comes down to the jobs there are thousands of jobs in the u.s. alone we're talking about twenty five thousand jobs that rely on itself and

when you see jobs think about what happened now recently with the canadian government it was going to buy super hornets from boeing and because of this trade dispute it pulled back on the deal that's a lot of jobs in the united states both companies can be harmed by this and like i said a little bit earlier there's really no proof that what bombard is doing the sale to delta that is harming boeing at all so really this is just an emboldened company right now trying to make its way elbows up push its way into the market in a bigger fashion than it would necessarily if the trumpet ministration was not in place are actually correspondent allison halifax thanks so much thank you. a cheating website is accusing a new rival of cheating by trademark infringement ashley madison is a self described married dating website and app that uses the slogan life is short have an affair. ashley madison parent company ruby life is suing

a new site casual x. for using the slogan life is boring desire a fling groovy life's lawyers also say that casual ex's use of an image of a masked woman pressing a finger to her lips is too similar to their services branding a representative from casual acts told a british tabloid that while their slogan quote took inspiration from ashley madison pitch quote our image and their trademark are quite different he said madison's marketing targets married people while his company targets a broader customer base while casual x. insists they're not infringing on ruby life's copyrights they do worry that they may not be able to match the larger companies legal firepower and that changing the image for the app in the apple store as lawyers demand would undo some of their success and branding that's all for now but be sure to catch boom bust on you tube at youtube dot com boom bust or thanks for watching we'll see you next time.

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