a year has time now for a quick break but hang here because when we return we have a look see at the revenues of the fashion industry with our chief correspondent tricky job plus i have a few thoughts about a misstatement earlier today by a top trumpet ministration official it involves numbers those numbers to mean something as we go to break here are numbers at the closing bell oil up more than one percent and pushing towards seventy five dollars at the closing bell we'll be right back. they gave us national camera. roughly once they showed some new play you for them. uncool videos during the world cup and some of them with the broccoli string at.

the down more on string i don't really don't t.v. .

that's sort of seeing. those. financial times but i'm stunned she. doesn't strike me as a society of the future trucker. welcome back the second round of the federal reserve so-called stress test has produced some surprises particularly to me actually as to us mega banks goldman sachs and morgan stanley have been told to halt any planned additional dividend payouts

perhaps more seriously the u.s. unit of deutsche bank failed the second round with finding of quote widespread and critical deficiencies in the bank's safeguards and recordkeeping the official fed findings will similarly keep deutsche banks and banks u.s. unit from shifting profits back to their corporate home office six banks preemptively scaled down their wish list of the stress test process revising downward the dividend plans they submitted to the fed presumably opting for a proverbial bird in the hand and hoping to avoid the stigma of a possible denial on dividends the fed's vice chairman for supervision summarized the general favorable tone of the second round saying quote the largest banks have strong capital levels and after making their approved capital distributions would retain their ability to lend even a severe recession. and amazon has finally made their expected move into the prescription drug market and they are going all in the. based online retailers

buying online prescription delivery service pill pack reportedly for a billion dollars though the terms have not been officially disclosed the acquisition of pill pack reportedly valued at three hundred sixty million dollars just two years ago gives amazon turnkey access to almost the entire u.s. prescription market that's because pill pack which was founded in only twenty fifteen is already licensed to ship drugs across all states except a y e c a b c reports that amazon outhustled wal-mart for the merger amazon's big move had a big impact on established players pushing stock prices for walgreens and c.v.s. down by nine percent rite aid shares fell thirteen percent and the share market moving massive amazon's new form was enough to exert a gravitational impact on stocks and other sectors delivery services federal express and united parcel service were both down today and trading by three and two point five percent respectively.

not since the market phone has any tech device been adopted as quickly as the smart speaker this week or that's a bottom line from an emaar quarter forecast on the lex of the virtual assistant developed by amazon and her digital siblings based on survey data even marketer predicts a forty seven point nine percent annual growth rate from sixteen million now to seventy six point five million by twenty twenty zero my gosh and they say the number of adult smart speaker users will surpass that of wearable device users for the first time this year unsurprisingly early adopters were a fluent males but it's noted that the gap is tightening rapidly as the device increases traction among other demographic groups particularly younger gen x. women with children number one alexa with forty point seven. a million at least

once a month users that's sixty six point six percent of all smart speaker users runner up google home predicted to hit eighteen million users this year and that's a distant second google share is increasing rapidly and rounding out the pack as apple's pricier home pod which has yet caught on and here to give us more on this technology is technology buff khalid cook the host of the big picture with holland cook himself holland thank you for being here pretty shit so you know who is this alexis alexa and what is she doing to our house and how many products have an annual forty seven point nine percent growth rate imagine raising crazy numbers what she's doing is accommodating us because if you look at the way technology has evolved we used to type computer equals keyboard then along came wearables maybe you have fit to keep track of how many steps you're taking apple watch there are sensors in clothing etc now you don't have to lift

a finger literally you can just bark at the smart speaker and she will accommodate you so the new word now the new buzzword is voice shopping so using using what you say doesn't say what you want what are we asking alexa to get for it and how much of our money is she spending do we know about it now make sure that you say that with tremendous nonchalance at dinner parties the voice shopping it's all ready to be billion dollars annually by twenty twenty two it's forecast to hit forty billion dollars and all along the way it's established so far six percent of the e-commerce spend so this is not insignificant what we're buying with it is commodities groceries number one but twenty percent of users buy groceries entertainment and electronics not surprisingly but the sweet spot for who's ever selling stuff online is subscript. in this friction free way to say order me some more of those paper

towels is gold if you're selling the paper towels if you done this by the way if you ordered things online yourself i have to have a lexus or i haven't yet but i do have a lexus and i got lured into amazon prime because the shipping alone cost justifies it so now suddenly i can say play crosby stills and nash and she'll start shuffling those songs now i have dibs on this vast video library so amazon just wants to get you into their walled garden and they've made it so easy because you can ask her what is the cube root of sixteen eighty four she knows it yeah right stuff is all out there so it's another way to interact and since amazon is selling everything this is great news for them it this is the new store front and do you think i mean when e-commerce came on it really you know sort of rocked and then rolled the retailers around it is this you know voice commerce really going to sort of fuel

inject that make it even more troubling for the brick and mortar stores you've got to think so although the day that jeff bezos bought whole foods i happened to be going into one and right there at the entrance was a big poster for selling alexa she got there instantly they have the first mover advantage and smart speakers because they're all over the place it's the world's biggest retailer amazon prime is the walled garden they've got whole foods they're going to use some of those toys r us stores as depot so we've read from some of the survey data eighty five percent of consumers will select the products that alexa recommends so if you're amazon magine that that's a huge deal forty five percent of grocery orders replace existing store online purchases so you talk. a lot about disruption on the show and what's cool about

amazon recently we talked about netflix they lead by disrupting themselves he bought whole foods. you know it's crazy and it sounds sort of fun and i can see you know add to my grocery list alexa this this that or another thing talk about a time saver it really could be helpful before we go on to talk about radio a little bit you're a radio guy anybody who listens to you knows you're a radio guy but in the competition for advertising dollars does the broadcasting industry view elect some of the others out there as a friend or as a follow up both and we hear the word audio a lot we used to think of radio as am and f.m. broadcasters but the advent of podcasting and now the way music has been commodity is from the cloud think audio advertising dollars are going there smart stations are enabling what they call skills so you just have to say play t.v. b.

and the radio station comes on the good news is this brings radio back in the home it's kind of become an in car thing we used to have a clock radio now the smart phone does it the kitchen radio has been replaced by a t.v. but a lot of people who own the smart speakers own multiple of them and this does put radio back in all of those rooms if stations have given you a reason to use it otherwise you just say play crosby stills and nash and there's your rock block it is the quality pretty good it's great so i mean you used to be where you're going to build a home you're say i'm going to put a speaker system in and have speakers in all the room now you really could just get intellects in a few major rooms that you're in it would take care of it this trained ear it's as good as what dr bose was doing and you realize that during this conversation we've had we've said alexa enough that we're probably activating them all over the house where people are watching. alexa turn to our t america that's holland cook the host

of the big picture here at r.t. america thank you my friend. and now we take a look at the business of fashion artistry charges has the story. now of the u.s. economy continues to grow one of the main factors that is driving it is the fashion industry now we are here on fifth avenue which is one of the most iconic places in the world to shop for a high quality fashion but we're going to take a closer look at exactly how much fashion hot i don't at least once a week or maybe twice a week with a growing number of high value jobs that pay homage wages and commissions fashion is now having a big impact on not only fashion centers from coast to coast but also around the world in fact according to a recent industry analysis by the u.s. consensus bureau fashion is a three trillion dollar industry that's two percent of the world's gross domestic product everyone a one month for every two weeks i see there's something new i buy it according to

fashion united luxury goods brought in almost three hundred forty billion dollars men's wear a total of four hundred two billion and women's wear generating a whopping six hundred twenty one billion dollars not to mention bridles where children's wear and sports but where that bring in a combined total of over three hundred thirty three billion dollars. generating around twenty four point eight million fashion industry jobs and that's not including the textile industry in fact to give an example of exactly how fruitful the fashion industry is for the first time in a hundred and eight years chanel house released its earnings for two thousand and seventeen and reportedly made a whopping nine point four billion dollars that's a lot of percent increase from the previous year meantime louie baton a best seller in the fashion industry brought in about nine point three billion dollars in sales last year according to reuters report although other reports do

suggest that the fashion powerhouse brought in more than ten billion meanwhile here in the u.s. the market share of the fashion industry is worth nearly four hundred billion dollars which is about four percent of the divest that market. are you creating a workforce of about one point eight million jobs meanwhile new york city is considered to be one of the biggest fashion as in the world so it's no wonder why over one hundred eighty five thousand people work here and the fashion industry reporting in new york trinity town that our team. and before we go if you're a regular boom buster you heard me say the numbers matter they mean something i say it all the time on the air and off well earlier today president trump's top economic adviser larry kudlow made a big mess of the numbers he was being interviewed on fox business and he falsely claimed that the federal deficit was actually coming down he said quote the deficit

which is one of the other criticism is coming down and it's coming down rapidly the only problem is it's not coming down the deficit for the fiscal year twenty sixteen two years ago was five hundred eighty seven billion dollars for last year twenty seventeen it was six hundred sixty five billion that went up guys even if you were talking about this year the current fiscal year twenty eight team which ends in september the congressional budget office cvo says the deficit is already five hundred thirty billion dollars through may which is up more than ninety seven billion for the same time last year but wait there's more c b o also says the trillion dollar tax the trillion dollar plus tax cuts that were passed last december will be even more to the federal deficit will add to it including any growth from tax cuts to the hot and tasty tune of wait for it. one trillion dollars

per year that's per year an additional one trillion dollars by two thousand and twenty just and two short years i mean tax cuts can certainly help reduce the deficit i understand that you bring in more revenue they can help reduce they can add more to the add more to the government coffers and therefore the debt deficit may not look as big but to say that it's going down would be a mistake i mean perhaps it's not rising as fast but it's still rising and look the final thing is look we all make mistakes i make a lot i mean i make one when i'm talking to you now if we make a mistake on a number we try to correct it as soon as possible but when your job as the top economic adviser for the present the united states for gosh sakes you make a false claim correct it mr kudlow nor his representatives have chosen to comment on the air 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. channel one thirty two or as always hit us up at youtube dot com slash boom bust our to catch a next time. to the top is drastic to. take care of our cut us some. funds and most of them are from a completely different culture i would just. as that a. problem is that we kind of the way we think that state because. it's none part of sweden.

no no pacing up stop stop stop stop the bullshit quote. my culture is crisp country and we don't do things like that and we will tell you if you do then we hate you and someday hopefully people do something about you to stop . we cannot be naive about this to not attract more gangsters rapists and these actually that are tearing down the city we want to face who is currently and we want the people who live here now to go back. current american administration is raising tariffs and revising old trade agreements when america sneezes can the rest of the world of only

a contracting protectionist fever. in twenty forty you know bloody revolution two to crush the demonstrations going from being relatively peaceful political protests to be creasing the violent revolution is always spontaneous or is it you know we hear a pretty meaningless put video producer in the new bill is that an idea is pulling it out of the former ukrainian president recalls the events of twenty forty. of those who took. it invested over five billion dollars to assist ukraine in these and other goals that will ensure a secure and prosperous and democratic. more than three hundred world and russian managers architects be. stop the largest

international congress on the problem of magazine july seventeenth twenty second so write your part business program interactive exhibition urban. suburban forum dot com. is audio stanton seen as the two time champions us title packing for the world cup by a feisty france i. and as you can see french fans go wild as they celebrate the win both in russia and back home. portugal are locking horns with europe why right now it seems two of the best strikers in the world continue their domestic rivalry buffalo news luis suarez topples christiane over now though. and in other news ahead of his summit with putin donald trump i can sense the media and

to have frenzy after saying he doesn't rule out recognizing crimea as a part of russia. a very warm welcome you're watching r.t. international with me and he erin we've got the world headlines coming up for you but first let's talk football. good evening to welcome you would you know the first team through to the quarter finals of twenty teams woke up it is france they did beat you know it's a team of four three they'll play the winners of the games just got underway in sochi milner after fifty seconds europe's wife against portugal the mana who's never fought for their lives ronaldo out on the pitch are expecting big things from him and he would go breaking news about him although as it is he's grown a bit. and we've heard all the ladies that were complaining we can hear the words

keep going. it is not nice and it still doesn't say he's leveling the playing field he's yelling down some more levees breaking the rhythm he's he didn't play a good game in the last game of the group face so maybe growing a beard. is actually a coating on it it's not a patch on your list you know i always looks fantastic until today i don't know what i mean check alison said made a list of the big states seeking or know when he is playing and of course he's playing and playing and portugal playing against your guy that game is kicked off with two minutes then. you know the changes today your guys make one change before she made the changes to the last game so he's brought by not a syllable. to gonzalo it is all back in the starting line up and that means that we've got rinaldo and we've got to have ani and luis suarez on the

pitch and you know it's one of these games you look forward to this because these guys they can score and i expect more goals in this game i know you do the opposite you think you could be in the know and you know what offense is very strong and it's going to be a tough tough ask no one's preached defense yet they haven't conceded good in these world cup but today they were going for now though so maybe maybe he's a one too to break the deadlock you know i think i doubt because you were talking earlier about how difficult it must pay for a star of the likes of analogy to be unable to walk down the street getting absolutely eros by people wanting autographs and photos and maybe this is why we're seeing the new look we're now protecting so you can maybe getting called meta from all of things portugal fans awaiting for an insult you have a life. i.

so perhaps that's what it is in terms of underdogs is there a favorite in a special a. year ago i probably. is a favorite they've scored more goals as we said before not conceded a goal yet portugal when you now didn't play well portugal didn't play well they had this one one draw with iran. and iran could even have won the game. and made it so much different to the last eight games but. for now the needs to play well they have your guys who speak have a corner kick and pep and all of all players is involved in a situation with pushing and shoving and the referee speaking to him as as as we speak you're too kind of place you don't like attention that they were seems to be drawn towards it'll create great evil but i expect i expect your grind this game to

take take charge and have the most to say this is what they've done in all the other games and then portugal to sit back a little bit and then they get rinaldo on the ball and. it's quick and strong as he is then tries to create something remember it's not many chances that portugal have created with oliver now the either being directly involved meaning having the chance all having had the last foot before the chance has arrived so you know i think that's that's pretty much our how we can expect this game to go but it's football we try to predict the game that we saw earlier on today it was a seven gold thriller and when we were no one in opposition so. ok we've got to be saving for stengel holkins is following this one looks like you know really tight and can tell us about what else he was like pre-match. series so she reads the side behind me and what a welcome it's has. being this long the coast is busy and bustling on any given

weekend evening today though the mood is especially buoyant because of a truck of a game coming up. the teams are already in the city and both local funds and football fanatics from all over the world excited to see. just outside the summit of the fans to see what they made of their first time in the city i love sochi beautiful weather. this beautiful fans beautiful russians. work up i mean this is really nice of you and i know you like it so i mean to send me is very good to most believe they're now going to do this in a nice to go along with our time here. as we are driving around russia and that's not. something that we are very happy to. come out of. the fun zone in sochi just

a couple of minutes down the straw man on the people who couldn't make it to the game although doubt about to see this kid game it just came out from watching the frogs argentina game what a game that was seven goals fans hoping for a goal fest in this key game as well. just an update for you on that match this underway in sochi six minutes played a baby and you look christiane of another with these unusual little goatee but it's the same old rinaldo in terms of performance on the pitch very good shot from just outside the area and they say from uruguay. no goals as yet but we were absolutely rotten in the only match of the day. oh and the goal is just going in this is live for you seven minutes and then it is the leader believe that's just giving your require the lead to some of the peter schmeichel was talking about yes addison kabbani is just put your ago i had but now they're saying something i'll translate for you so the team that's yet the only team yet to concede a goal in this competition have themselves in front seven minutes. played now if

portugal are going to get back into this are going to do it the hard way against a very mean defense and rinaldo will be the one carrying all the portuguese expectations just to explain the ball's crossed in from the right to uruguay. and we're just seeing the replay now and. gets on then of across the edge of the area just checking i think this for offside looks like it's going to be ok it was suarez with the final through ball. pinpoint. and it looks like you're quite have the lead as i said though it's going to and maybe it is going to be as good a game even better than the opening match of the day which brought a seven goals france's outstanding picture of argentina twists and turns not so great for messi but. was the shining light in this match got two goals and the nineteen year old became the first person to score a brace in the knockout stages first teenager since pele. it's flattering to

become the second of the pelly of course pele is another level but it's good to join that list of players as i said all the best players are at the world cup and it's a chance to show what we can do and our skills. ok the teenage star one of the brightest lights in the game today and a driving force for france in their bid to lift the trophy here is how their victory over argentina. you were why we were who were who were her own why why.

why why why why why why why why aren't you why the old who has the all of us who has was. it was absolutely fantastic and today what was seen as well is an absolute will class stop being born kilian the papa remember that name we all knew about him from from the last couple of years in european football.