because the illness did not shoot around a corner. this is blown by us broadcast around the world from washington d.c. it's the end of the we can thank you for watching coming up today we have a particularly packed show with amazon getting right to broadcast from your league matches a new report on puerto rico and there's bumper to bumper automaker news we'll get to it all but we start today's broadcast with the group of seven meeting which began today in canada the u.s. president donald trump has antagonized longtime u.s. allies while standing in an olive branch to an unlikely leader ahead of the g. seven summit as he's prepared to depart for the summit he did prepare for the

parties and for the summit mr trump told reporters quote russia should be in this meeting he went on to say russia should be at the negotiating table it may not be politically correct but we have a world to run russia was expelled from what was then the g eight group in two thousand and fourteen over events including on thursday mr trump's unusual diplomatic bromance with president mccrone of france seemed to end with a serious world mr rose used mr trump preferred medium of communication waiter to let mr trump know he would be the odd leader out at the meeting mr mccrone posted quote the american president may not mind being isolated but neither do we mind signing a six country agreement if need be mr trump fired back at mr mccraw with a familiar complain about trade and other issues and separately responded to canadian prime minister justin trudeau who would call us metals tariffs on acceptable mr trump ended one. combative tweet writing with apparent sarcasm quote

look forward to seeing them both tomorrow and from canada artie's alex while of which brings us the latest alex thank you for being here it looks like president trump and the rest of the group may be on very different pages or different books let's start with president suggestion to get russia back into the group what can you tell us about that. yeah it's been a wild ride and it just started looking at that every speck to what's happening with russia really interesting i mean if you flat out said it russia should join us we should make a g. eight again but you're going to get some pushback for sure from people like theresa may the prime minister of the united kingdom simply because we know that the united kingdom has been quite hostile towards russia in the past months if not years and it's that some of how amped up with the whole scandals i was going on in the u.k. so you know pushing this forward really it was it's interesting to see somebody like mccrone or even trudeau they're not going to jump on board with this but guess

what there is one person there that's italy's new prime minister just up to conti just saying you know what we think russia is actually an integral part of the world community he's saying that they want to do more trade with russia and actually concert went on to say it is in the interest of all to see russia at the table at a g seven slash g. eight summits yeah sort of where to me we've got continuing u.s. sanctions on russia yet the president on the other hand is saying that russia should be a part of the regained ga i don't really get the administration talking out of both sides of the mouth but let's move to canada where you are the u.s. relationship with canada there has been back and forth between prime minister trio and president trump what's the latest on that alex well you know you mentioned off the top in france's micro and trump out a little back and forth on twitter and not really the best relation the same thing's going on with trudeau who i think you heard earlier this week when trump blamed cantor the for burning down the white house back in the war of eighteen

twilight we can't take the blame for it even sometimes if we'd like to know wasn't us it was the brits canada didn't even exist at the time but trump did go on to say something in a tweet now listen to this so you know there is some hostility towards trudeau here prime minister trudeau is being so indignant bringing up the relationship that the u.s. and canada had over the many years and all sorts of other things but he doesn't bring up the fact that they charged. yes up to three hundred percent on dairy hurting our farmers killing our agriculture now trump's doing is tough guy talk and it looks like he's going to probably do this all all the time so for the next two days are going to hear trump talking this way but on the meantime some other people are doing some tricky maneuvering in the background prime minister trudeau of canada well he's been talking to the e.u. so he talked to donald talks who's the european commissioner as well as on claude juncker and they're talking about doing other trade deals behind the u.s. is back well if you want to call it that bilateral deals so the west of the world they're looking at the u.s. right now is that bully in the schoolyard and if they all gang up together well

maybe they can do something to fight that bully but i don't know they're kind of chicken at the same time the president president trump is also going to be leaving early alex and do you think they might have some sort of. statement or something at the end be after the president has left after trump has left and come up with something amongst the remaining members of the g seven you know there's been some back and forth about the troubles and we suppose they stay there a couple hours now it looks like he's going to be there overnight but he's going to take off before they get to the environmental stuff who wants to listen to that right so he right now we're looking at the other leaders. it's the tariffs we're talking about three point three billion threatened against the states from the e.u. twelve point eight billion threatened from canada so the other leaders are going to want face time with them that's for sure but are they going to be able to get together is there could be one leader who's going to be the first one to step up against trump probably not looking at japan you know that's sort of the one that's a bit of the out of the equation doesn't really even care about this g.

seven summit he's looking forward to work trumps going next and that's the summit in singapore where they're going to talk in korea that's more alley so i was for the europeans well i don't know and canada i don't know who's going to step forward if anyone our key correspondent allan thank you alex had a great weekend. so tight he general. now the large french bank is back in the bad spotlight related to the library scandal the london interbank offered rate was manipulated dating back many years in fact i was part of that investigation of my old financial regulatory job well there's new news on soc gen as evidence just released documents senior executives allegedly directed that manipulation themselves libel rates can impact everything anyone purchases on credit from home mortgages or student loans credit cards interest rates the former head of corporate investment banking michael the retail and didier valet who recently resigned are both implicated in the rate rigging scandal on monday the

company agreed to pay a fine to u.s. and french authorities of one point three billion dollars related to the matter and a separate libyan bribery case. we've reported and discussed in some detail just the other day in fact on the efforts by argentina to seek another international monetary fund loan well they didn't get a traditional loan but they do now have access to a line of credit from the i.m.f. of fifty billion dollars at least they'll have it soon it will hopefully avert some of the economic pain of the falling argentinian peso which is down twenty five percent versus the dollar this year coupled with new austerity measures the level is on the high end of what analysts thought the i.m.f. might offer offer fifteen billion of the fifty billion dollars will be available after the june twentieth meeting of the i.m.f. board which is expected to approve the agreement.

it's called sucker here in the united states but around the world it were commonly called football or football and it's big business it's so big that in twenty seventeen the total pre-season broadcasting rights came to over four point five billion dollars while the viewing rights are going to be limited to british customers amazon's. signed a deal on thursday to broadcast some of their games for the next three years so what does this mean for amazon and the english premier league joining us now is professor victor matheson of the college of the holy cross professor thank you for joining us again we always love it when you're with us now this time isn't a new thing for amazon they've they've made similar deals with the n.f.l. and they've even had the rights to lives during the a.t.p. world tennis events the u.s. open tennis do you think this is a smart move on amazon's part despite them not being a real major player yet in the streaming of sports well of course amazon over the

last several years has been trying harder and harder not to just be a content seller but be a content generator right so they're basically trying to become their own not a t.v. network and one of the ways you do that is by off offering a wide variety of t.v. viewing products and of course sports are one of them but you know you can't talk sports and not mention e.s.p.n. should be worried about amazon getting into this i think a lot of people have sort of underestimated amazon in the past but now to get into sports streaming do you think they're pretty well entrenched that is e.s.p.n. or should they be thinking about looking over their shoulders at amazon. well he has to be and should definitely be looking over their shoulders they've found here over the last ten or twenty years they've gone from a situation where they had a centrally a monopoly on a full time sports broadcasting course now they've been joined by channel after channel after channel and of course us amazon into this and there should be quite

worried and in fact if we see what's happened to e.s.p.n. over the past six months they started last october announcing large layoffs of production staff and just in april they laid off for roughly a hundred more people but this time it included a bunch of their on air personalities yeah that is i do recall that and so that is significant do you think that amazon getting into live streaming of sports maybe does something for major sports organizations like the n.f.l. or the premier league give them sort of some advantage because they've got a new partner or a new parts perspective better in broadcasting for rights to broadcast. yeah absolutely the more bidders you have for your product the more you can on average be expected to gain and of course broadcasters are scrambling to get these sports deals because as it turns out sports are one of the last places that people still watch live which makes it much easier to provide commercials everything else

something like netflix everyone just watches the shows no time for the commercials or a few d.v.d.'s you fast forward through those commercials sports are one of the first thing you are one of the last things that we still watch and it's one of the last places that commercials can a really still you know maintain a big football yeah it's not like people are going to binge the entire season of the washington redskins and watch them commercial free but that brings up a point i mean where are people watching sports now you say live professor but are they watching it on conventional television are they watching it streaming how are they getting to it. well there are still according to the data they're still mainly watching on the big networks so when we look at super bowl numbers about one hundred million people watch that live on the broadcast networks with only a handful watching streaming but it'll be really interesting to see what happens here for example with the world cup as people don't necessarily just want to watch

whatever the game of the time is and you know a lot of people like me might be trying to log an hour and were at work and watch a bit there and i don't have a broadcast t.v. at work but you know what i do have i do have a computer with streaming you will see it that way and that makes me think professor that there is a sky news deal out there and they are now taking bids for who they own met and sky news has sports it's something that will be following and we may have you back to talk about that more in the future professor victor matheson of the college of the holy cross thank you victor for joining us have a great weekend thanks for having me. we're going to squeeze in a super fast break but hang out because when we get back there is ample automaker news so we're fortunate to have the car coach lauren fix back with us and there is a new report on the status of puerto rico we certainly don't want to forget about the damage and devastation to the island and as importantly more importantly get people laura marling from the center for economic policy research joins us as we go

to break here the numbers at the closing bell a good day for stocks all green arrows on the big board we'll be right back. in a world as big partners. and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door on the bad. shouting past each other it's time for critical thinking it's time to fight for the middle for the troops the time is now for watching closely watching the hawks. i don't think that we should get above all cells i mean on bred to be british but

we are not a superpower and we should not pretend that we are as people we haven't got a name anymore that we have won so i think there's a limit to what britain can achieve on its own what we what we can achieve is is work to get us to to build world peace through working with other countries we're going to do it is a burden on our own and. welcome back the consequences us president donald trump's spree of terrorists and sanctions against other nations continue to pile up with outcomes that may have many in the us scratching their heads a drop of ministration sanctions against russia's roussel the second largest aluminum producer in the world appear to have given a significant boost to aluminum exports from wait for it china the resell

sanctions were imposed in april and china's aluminum export reached a three and a half year high of four hundred ninety five thousand tonnes in may the overall rise in demand has more than offset the loss of u.s. sales due to the terrorist while the price of a looming has risen thirty percent since april this week china's largest lumen producer reached agreement on a four point seven billion dollars credit package from china's industrial bank to expand their aluminum operations. and there is bumper to bumper auto news in recent days so we have asked in our wish has been granted and were once again joined by lauren fix the car. lauren thank you our appreciation as always for your spending a bit of time with us particularly the end of the week first tesla's made a lot of news a past few days you on must the c.e.o. said that the company has not made their goal of producing five thousand model cars per week but they are up to thirty six hundred which he says is big progress tesla

stock shot up on the news rising from two hundred ninety six dollars on tuesday at the close to three twenty six at the opening yesterday thursday it was trade around three twenty midday today i know you're not a big fan of tesla but what do you think is going on these days at the company well i think he's doing everything to protect the value of the stock for his people and fans that the fanboys that are out there because what happened this week is the national traffic safety board did say transportation safety board did say that the auto pilot accident that happened in california that that model x. which is the s.u.v. that hit the bridge abutment with six seconds at the hands of the steering wheel the car jarred to the right that was because of autopilot and it was the fault of the auto pilot system even though iran lost can a lot of the people on social media said not right away it's not the not not the cars fault it was found to be the cars fault so when those type of things hit the news you will always see an offsetting article from someone at tesla corporate

saying you know we're going to put a car on the moon we're going to produce more product they they've got five hundred model three s. produced and today we're going to go to five thousand a day they're going to make any story they can to help support their stock i understand that that's what we call made a p.r. but the fact is he's got to change auto pilot name and that's tom the safety board safety groups now complaining they want the name change including consumers union who has put a petition up with the federal government to have them change the auto pilot name and that will impact his stock until that's either removed or changed you think they're going to make it ultimately lauren. in the big picture i have been saying all along and the naysayer from the beginning is as we were having this discussion amongst a bunch of other journalists this week we say when he goes out of business whatever that will be it's going to impact a lot of jobs and we're all going to be very busy but the fact is he you cannot have a loss and make it up in volume you can't continually have

a loss and rely on these carbon credits which scott pruitt from the e.p.a. is fighting right now if those carbon credits disappear and when those tax incentives disappear to consumers people will buy other cars i'm going to drive the jaguar eyepiece which is just getting released now starting next week and i will tell you for a fact when jaguar starts bringing out a product involve other manufacturers he's going to have a very tough challenge selling product when their product actually has a dealer network and a support staff to service their customers which is what's needed and he refuses to do it you know let me ask you real quickly about g.m. g.m. has had some previous trouble with operating a car loaning company but chrysler is looking at doing that are are the carmakers going to get back into making auto loans directly to customers. well they're trying to do that sort of call a subscription service and i think every manufacturer is jumping in on that because if they figure you can pay six hundred dollars a month that includes everything except for gasoline insurance all entires whatever

and you buy it for a two year long period and after one year you said i don't let this jeep i want to go to a cherokee or i want to go to a ram truck they can do that so that allows consumers to switch vehicles more often which means more profit gets sold and allows them to say hey we sold x. amount of vehicles because you have to remember looking at the average amount of sales so far this year it's not going to be last year at seventeen point two million are looking at about sixteen point nine million vehicles right now and that may change we don't know without incentives concern customers just won't buy lauren we are out of time but we just barely scratched the surface i hope you'll come back again and thank you so much for being here lauren fix the car coach to have a great weekend. turning to africa the ethiopian government is opening the door modestly to foreign investment in the areas of telecommunications an air travel a profitable f.b.o.

telecom and ethiopian airlines have been critical sources of foreign exchange and funds for development in ethiopia helping to sustain an annualized growth rate of ten percent over the past decade the government seems eager to increase returns by selling shares in the company's prime minister met announce these sales on the same day he withdrew from the seized area eritrea territory effectively implementing a peace agreement with the neighbor from the year two thousand south africa's telecom giant m.t.m. was quick to express interest in the new opportunities calling ethiopia a natural fit for m.t.'s existing pan african footprint their competitors at voter com of south africa also made an overture complementing ethiopia as an attractive market. and morocco is in the second month of a growing boycott campaign by consumers upset about high prices and at dominant water gasoline and dairy products made by francis dan and company the campaign

campaign began on april twentieth and the first boycott targets were at a gasoline station chain owned by the moroccan agricultural minister who is broncos richest man and the cd ali brand of mineral water the water and gas franchises are widely considered gospel these and francis dannon owns ninety nine percent stake in morocco's national milk company dannon says sales have fallen fifty percent since the campaign started porting them to reduce purchases from dairy farmers by a third laying off workers and issuing profit warnings in a sign of the strength and perhaps down i'm of the movement the governance minister was forced to resign on wednesday after he appeared at a sit in by dan and workers and seconded their call for consumers to end the boycott. a peer reviewed publication in the new england journal of medicine increase the number of estimated excess deaths in puerto rico from hurricane maria into the range of five thousand after

a survey of thirty three hundred households the authors say that they the new estimate is likely conservative the disruption the next us to health care and also in utilities cost a third of the deaths now a new report from the center for economic and policy research says the latest plan from the fiscal control board congress imposed on the island will bring certain pain and uncertain gain to puerto rico and here to discuss the report is laura marling of super welcome back tell us about. this report and whether or not these austerity measures make any sense it sounds like they want to cut a heck of a lot and cutting there's already been the problem there right exactly so right now it's just more and more cuts for people living there even though these cuts completely ignore all the suffering that comes from the storm and also they won't thing. the economy they didn't fix it before and they're just going to make things worse and probably there's old us a lot more people are going to end up leaving the island so the fiscal control

board mandates a nine point five billion dollar cut but two point two percent of the g.d.p. and they only klein says that part of the problem with being susceptible to maria to the hurricane and other hurricanes is that they didn't have the infrastructure the health care that we talked about in the headline there and utilities etc how could further austerity measures of nine point five billion dollars not keep them in exactly the same position that they were in prior to maria that's exactly what's going to happen so the austerity started before and it's also the reason why a lot of maintenance in infrastructure was not done because there was no money and now even the relief funds that are getting instead of using all of it to rebuild everything better some of the money is instead being put aside for this fiscal surplus that creditors can claim so it just means that creditors might end up

making a profit from this while puerto rico is going to be in even worse shape because the trumpet ministration that they've been sort of notably quiet i know the president the other day was talking about hurricane harvey and the coast guard and stuff but i haven't heard him speak about puerto rico recently has you know they haven't been very interested in what's going on there that ashame know there's also a problem with the medicaid reimbursement gap could you explain that for viewers yes there's a specific formula that the federal government uses to reimburse states for what they spend on medicaid and puerto ricans are u.s. citizens so they're entitled to medicaid but for the territory there's this weird cap that got put in place some point in the past. that means they don't get to use the general formula so the same formula would apply just for the next five years they would be getting up like over nine billion more so. that could be change would

be the one thing if you were you know had a magic wand lar and you said ok we have the money how much money would it take and then a second part of the question is how would it be done can the government there in puerto rico do it by themselves. well the magic why and why do you need this by the own estimates of their government is ninety five billion there's estimates that see even more than that and they probably could do it by themselves if they would be outside of the control of this fiscal board and be able to prioritize investment and rebuilding and doing things and just make sure to do it in a transparent manner so they need ninety five billion dollars but what is being forced upon them by the fiscal control board is a nine point five billion dollars cut so they're going to be in a horrendous circumstance as we're approaching hurricane season yet again right yes

to be fair they have gotten about sixty billion not yet they will get over the next five years about sixty billion in relief funds from the federal government and private insurance but that's still not enough to make up for what they need and it's not going to help for hurricane season this year i mean there are still places that are just devastated right people are struggling there are still finding people who perished not long ago yes and there are still places where no electricity is and homes are no roofs and they're definitely not ready for another hurricane season what do you expect in the near future puerto rico the disco to be a bad circumstance or do you expect any silver bullets well hopefully the u.s. government congress will step up and really help them also not allow the situation that's going on with creditors being able to claim money from puerto rico now so they're getting even more money than they were what they were hoping to get before

the storm now well we appreciate you doing your report because maybe that will at least in some way try to help move the ball for laura marling thank it would seem pretty appreciate you being here great. and that's it for this time you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. the free t.v. at channel one thirty two or as always hit us up at youtube dot com slash boom bust r t c n x time have a great week. leave . league.

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that would be. right out to let it come back because we have right to go. ahead of the g. seven summit u.s. and italian leaders call for the g. eight to be reinstated with russia returned to the group of the leading industrial nations but there is also talk about the g six as the french president suggests kicking out the u.s. . you don't get maybe the american president doesn't mind being isolated today but we also don't mind you being six if need be. the red cross pulls seventy one workers out of war torn yemen over security risks the humanitarian group says its activity in the country has been blocked and directly targeted.