trading in london up three percent earlier today pushing seventy seven dollars iran is the third most productive producing member of opec responsible for about three percent of global oil supply or two point five million barrels per day. as a u.s. leaves the iran deal china prepares to swoop in filling an empty space china is one of the signatories to the two thousand and fifteen iranian nuclear agreement and with the u.s. out the asian nation now is in and playing a bigger role in middle east diplomacy artie's alex the highly bitch joins us from toronto with more alex although the u.s. may be gone key european players russia and china have remained a part of the deal so far iran's seems to be keen on continuing to play ball at least a little bit moving forward what can we expect to see from china in particular. china is an interesting one you know we've been calling china the sleeping dragon forever but it looks like it's been sleeping with one eye open especially when it comes to the middle east a glass you mentioned is

a signatory of this deal and when it comes to iran now while china says you know we were grette the fact that the u.s. has left this deal but we are going to safeguard it we are going to back this deal as long as we have to and china has a lot of say not only is that a part of the deal but china is pleased things very intelligently from the very beginning while the rest of the complete countries like russia the e.u. and germany france the u.k. as well as the united states were really dug into the political side of things that china is looking more at the economic side of things so its ties now to iran are more economic than anything a lot of oil goes to china india is a huge buyers whilst we're talking about the two most populous countries in the world but china in particular look it's a business thing so it is in there and being so tight with iran on that front makes it really a big deal in this agreement it wouldn't be surprising if the rest of the countries kind of said hey it's your turn to step up and china would lead this forward with

a renegotiation or whatever might happen to this deal in coming days and months very interesting and appreciate the metallica reference i caught it and thank you but what are the economic pluses and minuses for china alex with with the u.s. leaving this deal. well you know it's china and the world really look at the u.s. is also going to get hit we're talking about aerospace here boeing included you know if this is this is not a good thing once you start talking about these type of sanctions of the country that started opening up and now you're kind of forcing it to close back up there was a lot of business going on here coming from the chinese perspective yeah of course this is the downside when the united states is going to say and has been saying that any company that does business with china well it may face or sorry business with iran may face sanctions this includes chinese companies and of course as we know the relations with china are not really the best now would between the u.s. and china so this is not

a positive move in that direction also we're talking about isolationism in a sense because right now what we're seeing from the other countries the e.u. and from russia and from china is well ok america but buy if you don't want to be a part of this deal you don't really have to wear weird things happened here though is if you see the closing of iran which china was really interested in investing in that's a downside that's a major downside but the plus side for china is and this is a backfiring on what might happen to the u.s. european companies that the u.s. would say to these european companies and banks listen if you're working with iran we're not going to work with you well china at the same time can say hey come work with us and that might happen you might see europeans and the rest of the world turning towards china and away from the states that's definitely something that donald trump does not want to happen but at this point china is playing it intelligently laying low being very diplomatic and again you know donald trump as always he's always got that lack of a better word

a trump card some place this might be just a game for now he knows that iran is a growing player in the world when it comes to economics hopefully he's just not pandering to the saudis and netanyahu this might be every new green a go she shouldn't scheme we don't know but at this point china's taking advantage of it as we move forward. they are becoming a stronger and bigger player in the middle east anyway you turn it they keep filling the vacuum don't they alex r.t. correspondents alex my higher elevation thank you as always thank you. and the cost of president trump getting out of the iranian deal is a major blow to one particularly large u.s. company alex mentioned them right there boeing the plane maker iran has orders for one hundred ten boeing airplanes and another hundred seventy jets from european multinational plane maker air bus both sales are worth roughly forty billion dollars the largest looming concern from boeing shareholders is related to the sixty five wide body seven seventy seven's expected to be delivered to iran with

the economic sanctions being reinstated by the u.s. department of treasury both boeing and airbus export licenses to iran will be revoked in ninety days what does this all mean for the plane makers and in particular for the seattle based boeing let's ask conservative t.v. and radio host steve malzberg see if thank you for joining us i know you've been looking at this and trying to figure it out really does put boeing in a pickle and air bus doesn't it. yeah well let's start with a boeing and you know i'll jump to the end first the c.e.o. of boeing said you know what if we lose this business we'll deal with it and if we somehow keep it we'll consider it a bonus and here's why you know boeing has been i think last year was a top performing stock in the in the dow this year it's up about fifteen percent yesterday on this new is it was flat so nobody panicked nobody you know was selling off now here's the deal they're going to lose the twenty billion dollars presumably

but they never put these planes in their backlog they have six thousand commercial jets on their backlog that that means you know that they still have to produce and there are an order back order and they never included the iranian jets on that backlog so we're talking about about four hundred and fifty billion dollars plus so that's why the c.e.o. could say you know if we lose ten percent that we never included anyway ok we'll deal with that so that's that's the that's the party line that they're taking right now and i don't there are steve that the you know boeing has about one hundred forty one thousand employees and not just in seattle but around the u.s. and so that's comforting news that you're reporting there and we appreciate that how about air bus yeah well air bus is probably going to feel the pinch more and the reason air bus is falling victim to these sanctions and is right in the crosshairs is because two reasons one they have a plant in the united states and they meet the threshold of having ten percent of

their parts made by united states companies so that's why they're they fall under the sanctions and that's why they're going to suffer the loss of about nineteen billion dollars worth of the sales that you alluded to earlier yeah and there. did drop a little bit we're going to talk about the stock more in a while but then it's been going back back and forth you know as we've reported there's been some strong reaction from europe to present. so the president's move what are the implications for those european companies steve those that are doing business with iran or might be planning to do so in the future well the european union foreign ministers are going to meet with the iranian foreign minister their counterpart and they're going to say hey we're going to do everything we can we don't want to be part of this politically and of course as we're talking about now from a business standpoint as a matter of fact there are some business leaders in the european union who say let's pass a statute that says we're not part of this but then there are other business

leaders part who say who have connections to the u.s. who do business with the u.s. who say wait a minute we're going to get clobbered by the treasury department with fines and bad relations with trump who has said that if european. companies participate with iran after we say no after we tell them they cat there's going to be problems so they don't want to risk it as far as what companies what sectors the sectors you know its oil and gas it's also cars it's also planes airplanes it's also the hotels you've got dialer german company which plan to sell forty thousand cars a year in iran that's going to go by the wayside volkswagen on the gas side you have the french company total and g.e.'s oil and gas as well you have british airways a little tongues of which are going to suffer and hotel chains from france and from spain also get a feel the pinch big time steve we appreciate you looking into this and sharing

with us our viewers thank you so much steve malzberg host of the steve malzberg show thanks for joining us however my pleasure. and following the announcement we've been speaking about at least one sector was thrilled to see it go through can you guess right the defense sector yesterday following president trump's announcement making it official stock for the defense industry shot through the roof here to tell us the latest on the moves is already correspondent dan cohen didn't think so. we talked about boeing just a little bit there you can give us a little bit more but what about the other defense stocks they they love this right at first they love them some conflict oh definitely it's you know good for business i guess as they say i mean i think for a lot of the country it was business as usual yesterday but for the top defense industries there you know as you said their stocks really shot through the roof right at about two pm eastern time here in washington d.c. when president trump announced that the u.s. is withdrawing from the jay c.p.o. way those stocks went way up lockheed martin went up two points raytheon went up

two and a half points raytheon of course makes the tomahawk missiles which in the last few months we've been dropping on syria rather frequently systems northrop grumman side stock go up actually even boeing which which lost money on this their c.e.o. said they're ok with it. they could make some money considering they make the moab the mother of all bombs and largest non-nuclear bomb in the u.s. arsenal which we dropped in afghanistan and april twenty seventh teen i think what's really interesting is that this is in sharp contrast to the korea peace talks that have actually we've seen we've seen the opposite happen where the stocks of the defense is already out in the stock is going down exactly second this is bad for these businesses exactly where you know it's interesting because there's often you know immediate market moves based upon the news and there are people high

frequency traders and others who get in and try to grab that arbitrage but you know i was looking at some of the stock just before we went to air and boeing actually did probably because of what you said what steve was talking about ended up just a little bit today or at least be right when we went to air at three forty four lockheed martin down just a little bit to three twenty five in raytheon down just a little bit so these markets are a mystery which is why people make money in dan cohen thank you so much sure appreciate it. and we're going to squeeze in a quick break and when we return we'll be joined by fred hoffman author of bet the farm food being food to discuss the big business of plant gene splicing and how the u.s. may lose the global leadership role in this business as we go to break here are the numbers at the closing bell.

warren remembrance sunday marks the seventy third anniversary of victory in europe over fascism this is one of the most important dates on the russian calendar that can't be said of the europeans in america we discussed how that conflict continues to view of the world to this day. ministries police forces and city administrations of many countries depend on one corporation that does my mike will still be on the board doesn't come from the eyes of god i'm just going to come to the. woods as the fee that you got on into the seats in the middle

school like proprietary software you don't know the source code isn't that it's such a security risk when you have a black box operating the public good to microsoft dependency puts governments under a cyber threat and not only that. the softness of these missiles is it still in use this is we won't know because the will be willing to move. the suv. with. the ones this is the. one who just died on me the old vision stopping there was a sting of who's in front is up in these crowds on the front. porch or out the way is anti american and anti-democratic and they can look at that quite plainly by a standing the stock price approach or half of it was that risk but so it's trading i think there are three hundred thousand dollars

a share so the message from charlie munger and warren buffet's americans is unless you've got three hundred thousand dollars to buy one share of berkshire hathaway you're a player you're a peasant here you know they are the neo feudal lords that are building the system milking the system abusing the system and aggregating wealth as raunchy a coupon clippers and nickel and dime or they added nothing to the economy. qualcomm back argentinians are reacting with shock and dismay to news that the country's president has asked the international monetary fund. for a loan reportedly in the range of thirty billion dollars for many in argentina the i.m.f. is synonymous with crisis and disaster after i.m.f. policies drove the country's economy to collapse in two thousand and one the

backlash to the i.m.f. role in argentina's collapse led to the election of the late leftist nestor chris miller as president christian or reversed i.m.f. imposed policies in effect lead severed ties in two thousand and six president reso mockery who was the first president to be elected from the right since the collapse told the nation in a somber address that i.m.f. help was needed to quote void a crisis like the ones we have seen before the details of exactly what kind of relief machree is seeking and what conditions he will accept or the i.m.f. will demand remain unclear i.m.f. managing director christine lagarde said discussions will be pursued in short order . a simmering controversy over workplace harassment and discrimination at nike is resulting in a exodus of leadership nike has confirmed the departure of five more senior managers bringing the total number who have left the corporation to eleven nike's

president as well as the top executive for diversity issues were among those who previously departed nike c.e.o. mark parker addressed workers last week delivering an apology and a promise that the injury to and into disc the inquiry rather into discrimination and harassment would be completed this week back in march a group of female nike employees presented the results of an informal survey on discrimination harassment to nike management nike is president left the company ten days later. and another corporate personnel news facebook has restructured itself into three new divisions and rearranged its leadership team the changes have been pitched as routine regrouping after a period of grow. but in reality it seems to be brought on about by bike facebook's recent troubles with privacy and politics after the cambridge analytic a controversy now facebook will have a team focus on products one on emerging technologies and the third to deal with

growth privacy and advertising the social media site also announced that jeffrey zients a former member of the u.s. u.s. president barack obama's national economic council will join the board of directors . turning to india prime minister modi's government has seen millions of people actually register to pay taxes for the first time more than ten million people filed income tax returns from november two thousand and sixteen to the vendor of twenty seven thousand that's up from the six million filed income tax returns from perceiving six years the sudden increase in income tax filers has actually given the country a stable tax base which means they'll be able to fund india's public services india's chief economic adviser said that the new tax payers will boost india's tax to g.d.p. ratio by one point five percent at roughly seventeen percent india's tax to g.d.p. ratio currently is the lowest among the so-called brics nations that's brazil

russia india china and south africa. if you're trying to count calories in live in the united states you'll have some help from now on the rule requiring that calorie counts be listed on menus took effect this week the rule announced by the food and drug administration administrator scott gobble it was eight years in the making and was mandated by the affordable care act obamacare the implementation of the rule also is a rare example of an initiative that began under president obama but was implemented under the trump administration many fast food companies including domino's pizza had claimed that labeling would be just too tough and difficult or expensive but ultimately they lost the political argument some consultants say the rule could even help fast food chains with brand consistency across states as the nutritional content of various items will have to be reliably in line with the information on the menu. as a u.s. threatens tariffs around the globe on products like steel china is ready to respond

with tariffs of their own beijing has released a list detailing more than fifty billion dollars worth of u.s. goods to be hit with a twenty five percent tariff including soybeans u.s. soybeans sales have shown. noticeable losses in less than a month data at the beginning of april showed more than two hundred fifty five thousand metric tons of beans being shipped fast forward to the week of the twenty six last week of april and that number dropped to just under eight thousand because along shipping cycles u.s. soybeans currently en route to china could be hit with pending tariffs upon a rival welcome you pay a tariff while china does not import soybeans from what china does important so i mean from other countries the us is still a major supplier with more than thirty five million tons shipped every year. the wall street journal reports that china is venturing to become the world leader in plant gene splicing an area dominated by u.s. based companies syngenta a month santo and others syngenta the seed can chemical giant now owned by state

owned china national chemical corp is reportedly constructing a laboratory hub to do gene editing research and development the other big names are monsanto and of course dupont dow dupont now the chinese move raises concerns among those in the u.s. who fear that large scale agricultural production could also believed to be from the u.s. to china which has been acquiring massive holdings in water rich central africa and is on the verge of instituting advanced agribusiness if successful chinese does the mystic product production of ag commodities could replace u.s. exports to china in many instances china is the largest export market for us commodities as we spoke about a moment ago including soybeans here discuss the spread kaufman the author of bet the farm how food stop being food fred thank you for joining us let's get these basics done first we talk about gene splicing and people think it's you know this futuristic stuff but it's been done for years you know what are genetically

modified organisms g m o's and how big a business is g.m.o. patterning do a little explainer for us. well thank you bart i mean you're absolutely right this technology in some way shape or form has been around for a while it's recombinant d.n.a. and the idea is you if you can move and shift the d.n.a. of some sort of biologic then you've actually created a new biologic you've created intellectual property and you can patent it i think maybe the easiest example is is something like insulin which has been around since the one nine hundred seventy s. it is a genetically modified product and with the growth of global obesity it looks as though just the market for that single drug is going to be worth about forty billion dollars a year or so in big pharma in big ag g.m.o. is really bringing and bring in a lot of money so is it fred is this syngenta deal now that it's owned by state

owned china corp etc is that really going to move a majority share of the work that's been done the business and the related businesses that's been done in the u.s. so i'm going to shift this to china are we still going to have a big piece here in the u.s. well you have to remember bart that as you know for the agricultural industry in america is about one hundred fifty years in development so these things do not shift immediately and abruptly but the fact is that the chinese are very focused on long term planning and there is no doubt that that is what they have in mind that's why they are acquiring such land masses in africa that's why they're getting the water rights that's why they're getting the genetics the d.n.a. they've been purchasing smithfield farms to get the genetics on hogs remember a lot of these g.m.o. these are not for human consumption but for livestock so that is absolutely the long term plan and that's why kemp china bought syngenta at the swiss company i want to offer one billion dollars forty three billion dollars on hawgs fred are

being they own smithfield build a bunch of hogs here and in canada at least they used to have in canada are they actually doing hard production over there with smithfield of every still exporting smithfield this bill pork to the to china. what's happening now is that china is figuring out again the genetics they're figuring out how they're going to implement their livestock production and what they bought from this very old united states connecticut based company what they what they bought was the genetics and now going forward it is their intellectual property it is it's no longer ours i got it that reminds me of the the super cows in california all the genetic splicing that help though those cows produce more milk let's talk a little bit before we go about production ag moving to china you know we produce all the stuff we've got a lot of land but they've got a lot of land and if they are developing these really high tech if you were will

genes wise commodities and livestock do we run the risk in the us of losing out alternately to things being produced whether it's livestock or commodities in china . there is no doubt that that is where this is heading and that's why the united states really has to gird itself when china when china buys a company like syngenta they're buying the genetics they're buying the seeds but they're also buying the herbicides and the fungicides and all the techniques of the large agribusiness and china has an issue china's problem is water you're absolutely right they've got a lot of land they do not have a lot of water but like i say once again the united states is neglecting africa central africa the great lakes of chess central africa one of the most water rich regions of the earth and both china and india are making massive land and water grabs there the united states again through hubris through overconfidence is being completely left in the dust fred we sure appreciate it i know you noticed we talked

about that headline earlier but it's something that you and i have talked about before on the calories being included in the menu items i know you've actually called for that or you talk about that in your book the book which happens to be bet the farm when how food stop being food author fred kaufman thank you so much for being with us. thank you. smartphones have changed the way we live and work and most of it most of it is for the better we are more efficient more effective and smarter because of the devices but we also never seem to get away from them some seem addicted checking phones in secret like closets smokers google officials contend that seventy percent of users want a better balance in life that isn't as dependent upon smartphone devices entered the google digital wellbeing app which is a collection of features that will make users more aware of the time they spend with their phone among the features you'll be able to see as summary of your

smartphone abbots in a periodic hourly daily or weekly report you wonder how much time you spend responding to emails done deal with this app users can even set time limits on how long an app can be used only ten minutes more for candy crush are among the tens of thousands of apps this one seems like a winner which just might assist in creating a better life work and technology balance and we need that. thanks for watching i'm sure catch boom bust on you tube youtube dot com slash boom bust archie see you next time. i see that. i would say i'm not american but americans helped out really.

world war two cures the depression farce united states is concerned prosperity of course from store. led. for the for us the whole world what it what and. historical rewrite ever since world war two to foment the cold war against russia against communism and. socialists nish bush you the so you call me out she also goes to swat which so use could all go. well i think world war two has been distorted incredibly by the anglo-american media and that's because they wanted to minish the role of russia. and stalin who actually defeated hitler.

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russia celebrates victory day marking seventy three years since the end of the second world war with a firework display ending a day of spectacular military parades. the sea of people has swept through moscow taking part in the immortal regiment march remembering relatives who died fighting what russians call the great patriotic war plus. a cia veteran is thrown out of the confirmation hearing for donald trump as the new agency chief amid protests over her alleged involvement in torturing prisoners. and protesters burn us flying so.