moments ago artie's ashley banks takes a closer look plus we take a look at the commies of the euro zone and the u.s. with the founder of money strong and danielle de martino who joined us from dallas and kanye west and dion so they are in business news but not for good reasons and we'll explain why suggest two but first let's get some financial interests the world's biggest second best fund got even bigger this week three japanese mega banks have decided to join the vision fund led by the soft bank group mizuho bank reportedly will ante up on the level of tens of billions of years in wall am u f g bank and sue my tomo which is a bank also in japan will join with the automaker dime or chrysler oracle co-founder larry ellison and by her reign sovereign wealth fund to invest in the vision fund and the new capital infusion will get the fun to its one hundred billion dollars goal the fun launch with seed money from saudi arabia state

investment fund is a project of soft bank founder maybe shay osan who is now looking ahead to a vision fun to. tech giant apple has abandoned plans to build an eight hundred fifty million euro data center that was planned for western ireland this is the dead end of a long and winding road for the project which was first challenged in court in twenty fifteen but recently won what seemed to many to be a decisive court victory before the challenge was accepted for a hearing in the irish supreme court apple reportedly feared that a court decision could result in elements of the case being referred to be european court of justice creating more challenges and delays so apple pulled the plug despite solid support for the project from the irish government but said the setback will not dampen their enthusiasm for future projects in ireland opponents of the project said that the environmental impact would have been severe in that it would have created sixty eight percent in additional. on the electrical system in

the nation and despite apple's decision in ireland which would have been a boon for the west or our little area near goal weight apple still is making some impressive moved or. joins us to explain middle and show they are getting greener but not just anyone would tell us yes absolutely that's right part apple is trying to go green in the environmental sense as well as trying to rake in more dough as you might imagine but now in the credit cards here so let's hop right to that let's first start with apple's attempt at cutting down their carbon footprint apple is investing ten million dollars in a venture designed to rid emissions in making the aluminum that goes into their i phones and i pads ten mil that's just a drop in the bucket for the cupertino based company who posted nearly fifty three billion dollars in earnings in the fourth quarter of twenty seventeen a loan this green effort will be a joint venture between their aluminum producer alcoa and their mining and smelting company called rio tinto now that partnership with alcoa and rio tinto will be

called alisa's and based out of quebec now they're hoping to eventually go into future large scale production and commercialize their aluminum process without producing any greenhouse gases at all now this is just one more step that this nor cal company is making to eventually turn there and tire supply chain green just last month we saw apple announce that one hundred percent of its electricity came from renewable sources and that about two dozen of their suppliers have now made the commitment on becoming fully renewable themselves so really cool stuff for the environment there and now on to a different partnership that i think many crunches and byron mentalists probably won't be too thrilled about apple is joining goldman sachs to create a joint credit card yes apple is going into the debtor sphere the move comes as apple is shifting focus off their online services and into revenues while goldman sachs is seeking to increase their revenues from the consumer. banking side now

apple has yet to make a public comment on the joint venture but the apple branded credit card will probably be similar to say a cosco city card where card holders get five percent cash back or something similar to that making whenever they make apple purchases so they're hoping this card venture will encourage customers to buy more apple products and this apple credit card will likely replace the existing apple barclays for ward's card partnership that has largely been a big flop so bart consumers can look for this new goldman sachs card to come out early next year which is kind of surprising to me because you would think that they'd kind of make a rush to the finish line for the holiday season of twenty thousand but it looks like early next year well they're certainly innovative and goldman has been looking to do something for a while i know i've got some people that i know that are there and it does follow you mentioned in your explanation the city and cosco card city was really the first big large global investment bank to tandem up with

a large retailer and so i think they sort of paved the way for goldman here it was quite expensive actually for city to do that with cosco at first but now they're glad they did and my guess is a year from now gold medal probably be glad to archie's military and thank you so much at it appreciate it. oil prices have reached a three and a half year high both w t i and brant trading in the seventy dollars per barrel range for the second week in a row of games this week prices have buoyed by reduced oil production projections based upon the imposition of sanctions on iran but it's never as simple as what it might appear to be with global oil and here to help us sort out the current circumstances and look to the future we go to london nyima slum the chief market analyst at think my. markets niamh welcome and thank you for being here not even

two weeks ago it was reported that the saudis were seeking to have oil at above eighty dollars per barrel and yesterday bank of america merrill lynch predicted a price target of ninety dollars per barrel brant by the second quarter of next year and even a risk of one hundred dollars per barrel sometime later in twenty nineteen what do you make of all this. first of all banks were hiring me when i was that it was these laws by. oil. i mean that's the question that i would ask when i look at the positions like that i think the important factor here is that we are. a minute the fly from the global arena. because of the. gap because they are sitting on my back. i do not see the k. for the crew touching nine hundred dollar unless there is

a major eruption of geopolitical concerns if they evolve in the middle east. in the event guys that live in because if there is a war which by the way it looks like that's the way that we are heading to us because geopolitical tensions that's taken a completely different then that eighty nine hundred forty dollars would be very much possible but just looking at it on the demonic plane jim i need you not the case for on the dollar let's get into a little bit more and obviously you know if you see. missiles being continuing it rather to be launched an all out conflict you know we've already in syria have sort of a mini world war there but if things get out of hand even even more so we could see prices i'd agree with you one hundred percent but let's talk about iranian production

a little bit. when we had the last sanctions that production was cut by about a million barrels a day as i recall but that was with the e.u. and others imposing sanctions so what should we expect from iranian production cuts to the sanctions this time name. i think there are two important aspects that i really wanted to touch and they're very key points a iran is prepared this time this is no longer two thousand ferrety so they know how to deal with the same joints and how to go around it true as you correctly pointed out it's the was only the us rich has backed out of the iranian nuclear deal and they're putting those sanctions e.u. is very much on board and we know of american that i mean ports and meeting between there are you get germany and the u.k. so these going to be very important meetings between the two parties so what we

want to see is i think this is a lifetime opportunity and i have published this report in the morning i think this is the live to try opportunity for the eve to show that big bulk up of all of salvage the deal which was forged under trant administration to curb your reign in beer and missions and at the same time just like we know their dollar has a very denominated presence in the time of war especially when it comes of oil while countries like russia and your other have already nodded to the fact that yes we could actually accept another alternative currency i love big coin just arrived and remember that there are certain countries are open to try to action what we said at the central banks like other bigger countries like germany france u.k. they can go there ok we can start doing negotiations over your site except in

another benchmark currency which is very quiet because big quite is an accepted back but they can certainly can have that they can say look you're all can certainly be a bank smart yet rich and replace the dollar at all or trading had been done in europe they even got the essential. it's out of that. name i was wondering if where if where you were headed was that you know the e.u. who and china and russia who want to keep the sanctions are the one to keep the nuclear agreement in place they could actually make further commitments to purchase oil from iran which would continue to entice the iranians i suppose and maybe we can the u.s. hand but that would be one strategy to consider but i want to go back because now that we've got sort of circumstances changing in the middle east back in two thousand and sixteen i wrote an opinion editorial about how the u.s. was such an increasingly large player as well as russia and russia continues to be

and the u.s. of course that opec's influence on global oil prices would demonstrably diminish by even use that old eagle song lyric with all this whining crying and pitching a fit get over it get over it get over opec but my question to you is has opec regained some of its price power prowess due to their self-imposed cuts in the last year and a half and now due to sanctions do the trump sanctions actually help opec become stronger name ok it doesn't have a can ok game both be on track if the u.s. you know reaches a for each case the major trouble and remember that higher oil prices are going to bring production on the u.s. side because it's only right and russia trying to cut that supply nothing was meant from the u.s. side there for the dutch it is that all time high so that is the answer yeah and

with with prices this high and my guess is that we will consider continue to see ramped up production in the u.s. and other places niamh islam we sure appreciate you being with us always delightful to speak with you the chief market analysis at think markets thanks for your time. thanks for. time now for a quick break but stick around because when we return at archie's ashley banks updates us on the big pharma circumstance the president trump is just finished discussing his plans not long ago in the rose garden plus danielle de barge you know both the founder of money strong helps us take a look at the economies of the eurozone and the u.s. and not for good reasons kanye west and beyond say are in business news we'll get to all of that as we go to break here the numbers at the closing bell the dow went up more than ninety flights today to complete a seven day run that's it will be right back.

with no make this manufacture consent to step into the public well. when the ruling classes protect themselves. with the financial merry go round listen to the one percent. time to ignore middle of the room sick. leave. the iran nuclear deal was one seen as a major achievement of american diplomacy but that's no longer the case donald trump's decision to pull out of the deal has reopened a major international problem and they have to analyze betrayed and adverse to his

confused how should the world perceive. as some officials do not. fully understand or do not fully accept the. in support of football being beyond politics that's a fundamental principles of the world who both. were granted some people may have opinions but it's their own opinions and doesn't influence of the needs of the many other football fans who are buying tickets every day in large volumes.

welcome back speaking in the white house rose garden not long ago u.s. president donald trump abandon a campaign promise to allow medicare to negotiate lower prices for prescription drugs mr trump's two thousand and sixteen campaign pledge was notable as a rare embrace of a proposal largely identified with democrats well there's bipartisan support details of the plan were unclear as we prepared to go to air but one proposal currently being considered is cutting out the role of pharmacy benefit managers or a p.b. ems peer mayberg director of public citizen's access to medicines program said quote fundamentally the administration is not challenging the monopoly power of corporations and is passing on a historic opportunity to make medicines more affordable for everyone government analysts predict that prescription drug inflation will be six point three percent this year outpacing overall inflation and wage growth earlier this year a white house report found that seventy percent of corporate profits on generic

drugs are made from u.s. consumers form. and for more on big pharma and the cost of prescription drugs let's hand over to our correspondent ashley banks president trump says that pharmaceutical companies are getting away with murder however his proposed policies could possibly have major consequences for. the rest of the world's worst drug crisis in american history this comes amid rising trade tensions between the u.s. and key trading partners according to reports trump and his administration have blamed high u.s. drug prices on foreign countries a senior administration official says quote the us taxpayer through our publicly funded research efforts as well as through patients and consumers are largely paying for the vast majority of the our indeed that goes into the development of new biologics adding other countries take advantage of the u.s. and don't pay their fair share for the us as investment and medical research allez as our health and human services secretary says quote as part of president trump's

bold plan to put american patients first age age as is focused on solving a number of the problems that plague drug markets including foreign governments freewriting off of american investment and innovation as our says high drug prices can leave crucial medicines out of reach for a lot of people pharmaceutical health care companies are preparing for a string of new regulations designed to lower drug prices and the u.s. . during trump's presidential campaign in two thousand and sixteen he made the luring of drug prices a key issue so far trump's administration and the u.s. congress have failed to deliver any meaningful changes until now during a speech trump said we will have tougher negotiation more competition and much lower prices at the pharmacy counter and it will start to take effect very soon my administration has already taken significant steps to get drug prices

under control we reformed the drug discount program for safety net hospitals to save senior citizens hundreds of millions of dollars on drugs this year alone many believe trumps policies on trade its inhabitants transparency and intellectual property rights. are advancing the drug and destroys the entrance over u.s. citizens however a senior administration official says quote we're talking about something different we're not calling for medicare a negotiation and the ways democrats have called for adding new reforms to things like medicare will allow the government to secure a lower prices and reduce and sent for doctors to prescribe high cost medications making prices more affordable for the every day american yet some experts say the tribe administration could possibly be creating a climate where the price of drugs rise affecting both the rich and poor countries across the globe and washington actually banks are.

interest rates are making news this week in the black sea area where eastern europe meets western asia in romania the central bank voted unanimously to raise rates by twenty five basis points to tap down inflation the third increase this year the decision was criticized by the leader of the ruling social democrats who denied that fiscal policy was driving him and in turkey president aired one dramatically demanded that interest rates be lowered calling them quote the mother and father of all evil president aired one also wrote that turkey's enemies quote are hiding behind currency rate speculators the interest rate lobby or credit rating agencies the lira which has been blooming fell to four point three to the dollar after his comments and hit a record low earlier this week turkey central bank raised rates last month to curb

inflation and market watchers expect that another rate increase will be needed to support the lira and now here to catch up and explain everything you need to know about economics and interest rates in the u.s. and in europe is danielle de martino booth the author of fed up and the founder of money strong danielle it's always great to see you thank you for being with us let's start with europe if that's ok how is the eurozone been doing so far this year. you know it's interesting bart i've been studying up on the euro zone i'm headed that way i'm giving a speech in brussels next week at the european parliament and things there are really slowing down and if you look at the situations in romania in turkey the political tender going on right now in italy where there is there are calls in stampedes and that the people want more fiscal stimulus that really does complicate

matters for the economic policy makers for the eurozone overall i'll just throw a few a few statistics out there if you look at the aggregate your area we've seen retail sales come in in a contract ing way for the first time in over one year for the first time since since march of two thousand and seventeen a separate gauge of investor confidence throughout the eurozone again in the aggregate show that confidence has fallen to a fifteen month low and you and i have spoken about this before the fact that the citi group. economic surprise index is over a two year low so it really really does complicate matters if you have inflation being stoked by fiscal policy at the same time that you've got negative interest rates throughout so much of europe and a slowing economy and there are a lot of cross currents and i do not envy mario draghi. you know it made me think there are there q one g.d.p.

was just point four percent that's down from point seven q four and we saw this week also that the bank of england kept rates a stable didn't didn't do anything and we look forward to hearing from you after you give your speech at the parliament that's a big deal and i hope you have fun i know you'll give them a lot of great information daniel let's head back to the u.s. or some reports today economist steve rattner put out some numbers and his case was that president. likes to tout that his economy is better than all others particularly likes to say it's better than president obama and mr ratner put up some numbers there about the jobs created and there were one hundred eighty three seven thousand jobs per month so far on average under the trumpet ministration and that if you look at the eight years of the obama administration it's two hundred one thousand when he was in charge and then the same on wage growth the average for

president obama was point eight percent and trump it's point four now those are just two days data points but he was trying to make the overall case that not so fast president trump on saying everything's great certainly markets haven't reflected anything negative what are your what's your reaction to that danielle. well i would actually have to say not so fast mr ratner. that the data are the data and the reason that we've seen a slowdown between the two administrations is because we're running out of warm bodies look we had we had an initial jobless claims on a weekly basis this past week coming at the lowest level since december one thousand nine hundred sixty nine i mean this is before i was even born bart and i'm not i'm no spring chicken so what we've had we've had job openings hit six point five five million this is by far we haven't seen these types of job opening numbers in years and yet you hear from small businesses you hear from big businesses they

are lamenting the fact that they cannot find workers to fill these positions and i lay some of the blame for this because there are certainly people out there who would like to have more robust incomes bigger paychecks part but i lay some of the blame for this at the feet of the federal reserve of the united states which by the way everybody in europe wants to hear what the fed is doing next week but i lay some of this blame at the fed because if you keep interest rates at an artificially low level for the better part of ten years as an administration as a congress you're able to expand the size of the social safety net such that you end up making people dependent upon the government rather than forced to stay inside the labor force and that's why we have this conundrum today where we have tremendous demand for labor but an inability to fill the positions there's just a huge skilled labor gap in this country while you can't tease you know everybody's wondering about what the fed will do next week without me asking you about what you

think the fed will do next week although as by my calculations it will be eight o'clock at night in brussels where you will be when the announcement comes out about two o'clock i think usually here on the next wednesday right so what do you think the bed will be doing danielle. well it's going to be interesting the minutes are going to be released at two pm eastern standard time and of course the main needing that we'll be looking back on was what we call a lame duck meeting because there was no press conference that followed it so that all eyes will be on those minutes when they're released at eight o'clock attention obvious stepping away from dinner because we know that there's a lot of discussion and disagreement among members of the federal open market committee because they're trying to get their head around whether or not the inflation that has really started to hurt corporate profits it really is beginning to black and decker they came out yesterday tyson chicken these higher transportation costs are eating

a lot of these companies alive so it's it will be interesting to see the feedback that of the discussion on inflation because that all keys off of whether or not we're going to see two or three more interest rate increases this year so i'll be stepping away from dinner in brussels part well we look forward to get hearing from you when you return or from over there whatever works for you danielle do more to know both the author of but up in the founder of money strong thank you as always for your time and safe travels. thank you for that. and before we go music streaming service title has been accused of artificially inflating play counts in the region researchers reportedly found evidence of over three hundred twenty million false plays in total for beyond says lemonade album and west life of pablo the false plays would tilt royalties toward beyond say and west at the expense of other title artists jay z.

has touted title as an artist own service that would pay them fairly jay z's wife beyonce and west are all listed as title owners title reportedly paid sony a total of four point eight million dollars for streams of the albums in their first two months after release as kanye has said quote we came into a broken world and we're the cleanup crew seems like there may be some cleaning up to do at title the company denies any wrongdoing. and with that we're out of time thanks for watching be sure to catch a boom bust on you tube youtube dot com slash boom bust our to enjoy the weekend.

time in history during a crisis like in two thousand and eight where the creditors bailed out the state of the debtor singing going back even to build times as the debtors they get bailed out not the creditors but because of the fascism the neo fascism that listed leni like neil fascism between the bankers on wall street and the federal government fused together a corporate product daisy chain of incest and by all financial shenanigans the creditors were bailed out and the water they do with all the money they inflated the bubble even higher so now i've got s. and p. hitting the all time highs but the more ality and the ethics of the country and the wealth and income gap have nosedive. ministry's police schools is in city administrations of many countries depend on one corporation in the us but mike will still be on the board doesn't want the muslim god to just dump was going to come to the woods as the few good he got on

him to see them just assume like proprietary software you don't know the source code isn't that 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 some team thinks office can put more. of these this is still me this is a woman. all of them will. miss you all. of them with you know these this is the arsenal host i'm done with the all business stopped in there was a sting on jose from his up and his cards on the phone. joining me every thursday on the alex salmond shill and i'll be speaking to a guest of the world of politics sport i'm showbusiness i'll see you there.

donald trump faces a torrent of criticism from leading european politicians and the media over his decision to pull the u.s. out of the big blood nuclear deal. sweet consider studying a link possibly between immigration and crime saying public demand for such a move is growing. the right goes to the polls this weekend but the parliamentary elections go to washington worried as none of the main candidates back its policy in. the russian company charged as part of a from russia collusion investigation pleads not guilty in court i made prosecutors efforts to delay the case.