yesterday i guess and what does it entail for retail and how about the impact upon the tech sector will tell us and we've had a great feedback on the argue on r.t. correspondent dan cohen series on the health risks associated with cell phone use it's both scary and actually sort infuriating information he brings to us but it's incredibly important that we receive it dan will conclude is serious today plus the chairs of the u.s. securities and exchange commission and the commodity futures trading commission both nominated by president trump to jobs and confirmed by the united states senate last year have been facing some challenges how are they doing public citizens partly nailers will they get it and conservative t.v. and radio host steve balls are helpless or out in the global investor confidence which has dropped like a stone this year all that ahead but first we get a few at. the shanghai stock market has entered bear territory the shanghai composite index is now at a two year low having fallen by one point five percent in wednesday's trading at

more than twenty percent since a high in january markets across asia also fell the gravitational pull from the shanghai exchanges fall with the hang seng down the percent the shans and composite index also fell by one point eight percent as did exchanges in australia and south korea the bearish turn in asian markets has erased an estimated one point six trillion dollars in value on paper at least according to the south china morning post telecoms have been particularly hard hit or a notable area of weakness with the troubles of chinese tech giant dragging down the c.s.i. three hundred index that c.s.i. is a capitalization weighted index which seeks to replicate the top three hundred stocks traded in shanghai and then and has been reflecting some general anxiety about the future of chinese tech stocks as we reported recently u.s. policymakers are currently considering what prohibitions should be placed on u.s. companies that have chinese ownership above twenty five percent.

and india is reacting to the trumpet ministrations tariffs on imported metals with tariffs of their own and more importantly strategic economic diplomacy with both the u.s. and neighboring china earlier this month the indian government officially notified the world trade organization that it planned to impose tariffs on thirty products imported from the u.s. in the officials have indicated that the counter-terrorist will hit u.s. imports in august an assistant u.s. trade representative arrived in india yesterday for two days of talks which actually just wrapped up the talks were reportedly aimed at a settlement of their trade disagreements obtaining an exemption from metals tariffs seems to be the primary indian negotiating objective while the u.s. has complaints about india's use of the general system of preferences and trade rules indian prime minister narendra modi is taking a position of optimism about resolving the specific complaints perhaps as part of

a broader trade deal even has he builds ties with china and meanwhile the chinese state council announced yesterday that tariffs that they have on soil and several other indian imports will be curtailed as of july first chinese tariffs on soil imports from a number of regional neighbors including south korea will also be repealed. and are to have the opportunity to speak with the russian energy minister alexander no back and we ask about u.s. sanctions related to russian aluminum industry roussel in particular and mr novak said quote these sanctions affect american companies as well since they can't work on projects in russia that could be quite lucrative and successful we believe that such measures meant to apply pressure so to speak are not only our relations but also our economies and we'll be bringing you more of this interview tomorrow and we're talking about energy. and there is a major historic labor rights news in the united states as the u.s.

supreme court has finally handed down a long expected opinion likely to financially decimate public sector unions and place their long term survival in real doubt the five four ruling in the case janice vs f.c.c. effectively bars public sector unions from collecting so-called agency fees or fair share fees user fees unions are currently allowed to charge workers who the union represents and collective bargaining and who receive benefits from the contracts the union negotiates but are not union members as the new york times has reported the ruling is a result of a long term effort by right wing political moguls most specifically richard all the i'm founder of you line shipping company is the primary donor to the liberty justice center which pursued the plaintiff's case in her dissent justice elaina kagan criticized the rulings foundation in an expansive interpretation of the first amendment for that reason labor law expert said janice could be cited to challenge

almost any other labor rights law as reported yesterday the u.s. supreme court is issued a ruling that american express vendors may not encourage their customers to favor competing credit cards using discounts and promotions that case ohio vs american express could have major consequences for retail and perhaps others here to break it down as a c.e.o. of stocks woosh melissa are moma lissa thanks for always being with us we really appreciate let's start with the lay of the land american express charges higher fees i mean most of us know that both those swipe fees and their vendors all they hate that they hate that a lot and so the companies out there are now you know in this sort of battle sort of a credit card you know war first of all why does american express you know charge a higher rate than some of the other credit card companies do they have a different business model below us. they do have a different business model but it's mainly based on exclusivity they're trying to

cater and say american express is special you get all these rewards if you open up a car with american express you have to have a higher credit rating if you're able to get a car with american express some american express cards actually are charge cards or not credit cards where you have an unlimited line so american express their their gearing towards consumers was special special special and i'm sure maybe you've heard of the black american express card too so it's very different from master card visa or discover so that's trying to get consumers as far as merchants go as you know i own my own company i accept american express and i guess i pay a higher fee now why do merchants pay a higher fee with american express because one of the biggest reasons that all of these credit card companies charge fees to merchants like me to run clients transactions for example if you came to me as a client the reason is because of fraud the reason is fraud one of the reasons that all of these fees are so high and the difference is only about one percent so for example if you come and you you have

a transaction that cost ten thousand dollars your fee is going to be three percent which is three hundred dollars which the merchant which is me which will pay if you got a visa it could be around two percent which is two hundred dollars it's not an extraordinary amount of difference to be honest with you if i'm a merchant and i know i am and i want you to come to me as a client that i'm going to accept american express or as a merchant i can say i don't want to pay american express's fees but then i'm limiting myself to the people that will come to me because some people love american express and one of the reasons is they like the rewards they like the service american express gives special service supposedly to their clients and so they have a different business model it's about service service service and all these special rewards and things so it's very different from even some a company like discover for example too but the fees are there because of fraud that's the reason that credit card fees are so high and by the way that is also why we pay so much interest if you pay your credit card off in full by the end of the month you pay interest that. could be five percent ten percent twenty percent

thirty percent and the reason again is fraud as well besides the fact you're borrowing the money so that's why everyone pays interest rates with cards and you can go to american express and you're going to pay a different interest rate than you would with me as our master card and a lot of that is set by the banks based on your credit score and things like that so people can go where they want in this case to me i am really not surprised to be honest with you by the decision i even though i'm a merchant and i pay american express fees i think it's a proper decision for consumers and it just is what it is this is the banking environment it's a free market. because we only have a little bit of time left but what. this really impacts silicon valley and the tech sector that wasn't something that immediately struck when we first looked at this. i don't think it's going to affect it at all i did read some articles where they were they were talking about it because there's a been a lot of scrutiny about what's happened in tech in the last six to twelve months and i don't think the scrutiny with tech is over especially with the privacy concerns with facebook that but that's completely different than what's happening

here even though they take money for advertising and even though they have people's information that's more about privacy not necessarily about scenes or consumer banking laws so it's very different to me i know that people are saying it's similar and this is good for attack as far as the decision goes but i think the scrutiny is going to stay on top attack i think congress may look at that at some point a future because of the privacy ruling it's not necessarily about as far as a free market and again this decision was for a free market and i think that's good that's good for capitalism if you if you live in the united states of america. melissa we thank you for being with us kim vote for the american express customer service it's great and i did see the black card one time when you showed it to be most normal the c.e.o. of the store appreciate your time banks banks.

searchable reality headsets are quickly becoming a cornerstone in the classroom as a way to take virtual field trips to distant places but how safe is the technology for children in particular artes dan cohen takes a look in his third and final report on the dangers of cell phone usage and radiation. by the year twenty twenty one more than seventy million students around the world will have used a virtual reality headset leading that effort is the silicon valley giant google and its global expedition pioneer program was ready to come to devices and lead to near our environment. minister blair said he. was but allowed us to go somewhere wouldn't normally be able to go but a groundbreaking new study reveals that children absorb two to five times more microwave radiation than adults from virtual reality headset using video streaming cell phones this comes as evidence mounts linking cell phone radiation to cancer in

march after a panel of experts reviewed the results of a national toxicology program study they concluded there is clear evidence linking cell phone radiation to brain cancer medical experts say the study is unprecedented and that cell phone radiation has never been tested on the eyes we're doing a lot of testing in terms of how do people use virtual reality in these new technologies but there is not the same testing or really any going on with what are the radiation exposure is to the eyes of children in schools who are looking at these devices through founds google's product safety information simply says children shouldn't use the headsets without adult supervision nothing about the dangers of radiation the child's brain is growing very rapidly it doesn't have a mile an hour round it which protects it and here we are exposing it to levels of radiation that have never been tested what are we doing we're experimenting on our

children i don't think that's a smart thing to do google didn't respond to multiple requests for comment but it's not the only company producing wireless virtual reality headset facebook owns the company oculus which makes multiple popular view your headset models but none of them provide any information regard. dangers of cell phone radiation this had said is available at a local store for five dollars in tiny print on the bottom of the box it says not recommended for children under fourteen and in the instruction manual says no one under thirteen should use it nothing about exposure to radiation but experts say the solution is simple wired headsets can be used to being a virtual reality so it's being used for applications in the medical industry and in many places where it is actually a really important technology but it can be wired just like. so much of our communications can be with wired net instead of using

a wireless signals reporting for boom bust dan cohen r.t. . and we're now joined by the man did colin did you thank you so much i mean this is really incredible reporting really pleased you spent so much time on i do so you work it hard for the last week or so on this and what you're talking about cell phones you have the virtual reality there but it's really about wireless technology so it's a lot of things other than just cell phones exactly it's not just cell phones all wireless technology e-mail it's radiation microwave radiation so that includes wife i which were exposed to all over the place bluetooth cordless phones in their base stations tablets including the i pad and a lot of this is never been tested in the way we use it crazy now there are some things out there i've got a little sticker on my phone that says it's an e.m.f. neutralizer and you've spoken we've talked. about the really thick cases for your phone do those things actually help well there are

a lot of products on the market that claim to protect us from microwave radiation the experts i spoke to in the reports i read showed it's not an easy answer some of them can reduce radiation if they're used in very specific ways there's one that's called the safe sleeve that has a protector on both sides. and on the front that has a has a flap but if you open it then of course you're not being protected to talk on it and then the back is actually reflecting even more radiation back at you so you get even more exposure but ultimately i think the answer has to come from more regular has to be more regulation and stuff the cronyism that you've talked about in the report and so after all your reporting what you're you're you're not a doctor and you're not playing one on t.v. but what's your best advice dan well the medical experts that i spoke to said keep the phone away from your head so it's much better to use speaker phone to use a wired headset that's one way to protect yourself send text messages more avoid using the phone when the signal is weak so use it you know when it's stronger and

close as many apps on your phone as you can and when you sleep leave the phone in another room it can disrupt your sleep really good advice dan cohen what an impressive report thank you so much dan. and time now for a quick break what's hanging here because when we return we get an assessment of the chairman chairman of the key financial regulatory agencies to see if he see an s.t.c. by bartlett nailer the financial policy advocate for public citizen and global investor confidence has plummeted precipitous leave this year conservative t.v. and radio host steve malzberg help us sort it all out and before we go we'll tell you about one really big business that's set to make more money even ever i'll give you a hint archies jesse ventura played a key role before he was little elected official as we go to break here are the numbers at the closing bell in stocks the dow nasdaq and the s. and p. are all down today will be right back.

at sort of see play golf. good politicians to do something good to. be put themselves on the lawn they get accepted or rejected. so when you want to be president or injury. or somehow want to be brits. it's a right to be for us this is what the forecast three in the morning can't be good that i'm interested always in the waters of my. question. welcome back a new report from an australian policy group says that y.y. of the chinese tech giant was the largest single sponsor of trips abroad for

australian policymakers from two thousand and ten to the current time the austrian policy institute says that while ways generosity has been bestowed on twelve parliamentarians almost evenly representing both major australian political parties weiwei paid for airline tickets took the lawmakers to their corporate headquarters and covered hotels and produce them expenses for meals all the trips are legal under australian law in the think tanks report was based upon required official disclosures the facts in the report will certainly feed and perhaps inflame the growing debate in australia over official and corporate chinese efforts to woo australian policy makers. agricultural mega-corporation con agra brands is becoming even larger as they are set to buy new jersey based frozen food vendor pinnacle foods for a reported eight point two billion dollars in cash and stock and agreement on debt restructuring will raise the total value of the deal for pinnacle to nearly eleven

billion dollars pentacles ownership a bird's eye brand of frozen foods made it an attractive target for con agra which previously acquired the healthy choice brand frozen dinners pinnacle also on the less trendy swanson and hungry man frozen meal brands which some of our older strike that more experienced viewers may recall con agra has been spitting up some of the faded old school frozen brands that they have already acquired such as banquet and marie calendar's kind agra c.e.o. jeff connelly has led the shift motivated by the recent stand up performance of frozen among packaged food product offerings. and catching up with crypto currency is facebook has reversed their ban on. advertisements for crypto currencies but the social media site says that they will claim their prerogative to pick and choose which companies can advertise while not listing any specific criteria to be used facebook's form that people use aspiring advertisers use must

be completed it states eligibility may be subject to such conditions and restrictions as facebook may decide good to be king i guess initial quiet offerings however still may not be advertised on the site the short lived ban on crypto ads was first imposed in january of this year. j. clayton who is the chairman of the securities and exchange commission the f.c.c. is in bend in place for more than a year now but he's new as a result of the trump administration bartlett naylor from public citizen spends a lot of time at the f.c.c. and other financial regulatory agencies is here for us to ask him how things are going martin what do you think j clayton how's he doing so far relative to the other financial regulators well that's a very low bar so relative to the other financial regulators he's well well above that bar that said i think his legacy will be term and by

a rule that he is currently fashioning that addresses how brokers dispense advice to their clients currently they can dispense advice that's suitable that's a technical term but it may be more expensive to the investor because it generates a larger commission to the broker dealer and that's a problem that he acknowledges and he would like to repair the proposal that he's proffered however we think falls short of achieving that goal on enforcements i think he's fallen short the numbers show that enforcement cases are down penalties are down we think that's a problem wall street is certainly no. boy scout camp site it's full of misconduct we saw that in the financial. crisis and we certainly don't think it's been cleaned up so we take more rigorous enforcement as necessary and we think he's falling short there that said we find him a genial personally think he works well with people he's open to meeting with folks such as us and we think that's constructive i have met with them and i find him to

be that way also bartlet he seems to be a straight forward you don't get into government at least most people don't unless there are real stinkers to make money you get in there to do some good now the different definition of what good is is in the eye of the beholder i suppose if i let you go i can't can't not ask you about christie and carlo who's the chairman of my old agency the commodity futures trading commission what's your take on one tim also very genial but fortunately i think he's running the c.f.p. commodity futures trading commission very much in the wrong direction with a smile and a handshake he is turning back a lot of the important rules that are complicated big keeping america protected otherwise protected from an extraordinarily large market when it blows up its catastrophic and that was the market that we know for credit default swaps which were part and parcel to the great recession and i know these rules you're talking

about are a little too complicated the de minimus rule to talk about today but one that do people do know about and we've spoken about before is the volcker rule and yes they're one of the agencies that had to put through that proposals out now and we hope you'll come back to tell us more about the volcker rule as we get a little closer to the closing of that comment period be happy to bartlett naylor public citizen thank you for being here thank you. and confidence among global investors seems to be fading significantly a study by absolute strategy research notes that of the two hundred fourteen asset allocators comprising four point one trillion dollars in assets that expectations of an uptick in global business confidence has declined sharply since the beginning of the year here to try to help sort out what's going on is conservative t.v. and radio host steve malzberg steve thank you as always for being with us and we're sure appreciate you know this study says that investor confidence and this is global investors it's not just u.s. investors has not been this low in four years or what do you make of it. well it

seems that according to the survey had it peak the confidence level peaked shortly after the election of donald trump in late two thousand and sixteen when all things were possible and certainly one might argue politically speaking i'm not going to go there that much that things in this country have in proved under trouble certainly but now of course the two words the two key words in all of this seem to be trade war and uncertainty is another word that is an offshoot of trade war and possible trade war an existing trade war and future trade war and it seems that's what's bothering that only is that the lowest in four years it's also only the second quarter since two thousand and fourteen that this confidence in u.s. equities is higher than in emerging markets and global equities so we are at a kind of a crossroads here although the actual investing the actual commodity purchases and

an equity purchases has not really translated yet we haven't seen action taken on this low confidence level yet ok now i want to you might hope by surprise you but i won't be the first sentence here so look the economy was already improving before mr trump was elected i mean we came out i mean it's hard not to right i mean we're in the doldrums but once he got in we definitely increased business confidence in the u.s. and i think that also translated somewhat around the world and i gree steve this is a surprising part for you probably i agree that he actually did a lot to move the economy forward created but he helped that need didn't mess things up now steve i'm worried that maybe he's messing things up i mean if you had to posit and talk about these you know global investors these asset managers i mean how much of this do you think has to do with trade and tariff tram tantrums and donald trump. well i think it almost all has to do with that and now having said

that i'm not resigned to the fact that we're headed down a dark path i think that cooler voices i think of our own i think that larry kudlow minucci will all get the ear of the president one way or another and i think a more moderation of sorts will prevail in the end i think it's to everybody's advantage is a trade war is something nobody wants and by the way donald trump promised he would quote unquote in his view fix this and he would insist on what he's insisting on right now so it comes as no should come as no great surprise to either voters or investors here in the united states or worldwide having said all that though i do think that there's a fear out there and that fear is real and although you know the market isn't tanking certainly and we've had up days although mostly down days in the past ten or so when it comes to the dow and where no size seismic shift and i do think that this will in the end work itself out and everybody will be happy but there

will be some pain short term and you're going to see people panicking in a sense i would hope seasoned investors wouldn't do that but when it comes to this survey in confidence when you have this uncertainty as you know better than i bart you know people are going to say yeah i've cut a lost my confidence absolutely steve malzberg conservative t.v. and radio commentator we knew you'd be helpful thanks for your time. and before we go dr jesse ventura currently r.t. america fame helped make wrestling profitable while his often been criticized for being fake the w w e the world wrestling entertainment profits are very real and growing in just the first quarter of the year the w w e made more than one hundred eighty seven million dollars in revenue so first quarter but under a new five year deal with usa network fox and comcast the licensees fees received from those broadcasters for just two shows. will triple in twenty nineteen from

a previous level of one hundred thirty two four hundred sixty eight million dollars the w e projects their overall annual content revenue fees will grow to five hundred forty two million dollars by two thousand and twenty one and some commentators now invoke pro wrestling as emblematic of middle america taste in entertainment and even emblematic of the trump era of the owners of the w w events mcmahon is married to linda mcmahon the administrator of the u.s. small business administration in the trump of ministration and that's it for this time you can catch boom bust on you tube dot com slash boom bust r.t. catch you next time. in the heart of the swiss alps this is a place probably most secretive than the pentagon moma stereo system the cia and better god than for knox the swiss customs are here permanently all the science is

controlled by them and they impose the opening time so it will come up with it it was adopted from his office the procedures in place of the strictest in all europe must to pieces by artists like picasso and modigliani can't boards and sold inside this warehouse so that's where the report comes in if it covers up deals which are naturally discrete commercially discrete steps but also discrete because they concern from the from some of those paintings the link to dark secrets nobody knows how many of these secrets a kept inside the geneva free pool it's such a position that you'll never obtain an inventory of all the works in the freeport who knows how many there are three hundred three thousand three hundred thousand it's a matter of confidentiality only is it the world like the our business.

it is day fifteen of the world cup in russia and find out the last teams to go through to the next round of the tournament and the fans just can't get enough of football's biggest event. and some of those you might support among the crowds that have descended from the tournament may well surprise here. also the kremlin and the white house. official summit between donald trump. says the future of the international chemical weapons watchdog. now hangs in the balance that's often the organization was granted the power to assign blame.