not. some kind of monopoly in the making here that's going to dominate the airwaves and you know they talked about a trial the properties of time warner like c.n.n. specifically being must see must have that's bogus that's nonsense nothing is must see it must have eighteen t is that we're going to compete with the likes of netflix and amazon if you have amazon prime you get their content for free and google and you tube and every every i mean this content all over the place to think that this is going to stifle innovation and that they're going to be able to raise their prices and do whatever they want and yank their programming off of other distributors and raise their prices on theirs to put it on is just naive it's nothing is that important anymore so i don't think that could be further from the truth now as far as what the judge might have overlooked here they claim that he did not allow them to call the expert witnesses and also that they ignored that the judge ignored an eighteen t. f.c.c. filing with its subsidiary direct t.v.

where they once expressed fears of a vertical merger of this kind and what it might mean going forward for for the industry so but i don't think this appeal is going to hold water i really don't know all right and margot where do we see this going and what's the timing we talked about the september deadline for eighty and i assume then that there will be a recent response from the government after that how long is this going to take to play out i mean you're looking at months i think really and that's perhaps being conservative i don't see anything happening by the new year but this is going to be a months long process and however it is it is certainly going to shake up the media industry and it's going to be fascinating to see what happens in its way i mean this is i think surprised surprised everyone this summer what's been happening what it what a summer for mergers and acquisitions really is just fascinating it has been we preach both both of you helping us out and learn about it and understand it going forward conservative t.v. and radio commentator steve malls. berger and steve malzberg and professed soria

lecturer at american university margot sus our thanks to both of you thanks bart. and it's time now for a quick break but hang here because when we return our teams peter oliver reports from berlin on the latest developments related to the online lodging marketplace air b.n. b. which is in some hot water over inaccurate pricing in the european union as many member states are also pushing for a digital tax plus artes alex the highland which gives us the latest from toronto on how the u.s. aluminum company poet is faring in the trade war for that not so well plus our team is actually banks takes a look at central winners in the highly competitive electric car space as we go to break trading on tesla stock was halted around two pm today east coast time after c.e.o. elon musk tweeted that he suggested that he might take the company private in the stock rose more than seven percent trading resumed work early before he went to air and we'll have more on this tomorrow we'll be right back.

the way to the united states is dangerous for most of the illegal immigrants. crossing their fingers but first a little simple they want to become us and i want to ask some just about what if many of them look for refuge in the so-called centrist sides of the drug used to share information about undocumented migrants with federal authorities the last person asked bank of mom. policy to morrow have a l.f.s. i'm not getting a lot less than the one that. they have or water they'll choose to stay in the country with donald trump in the white house for forty gobbles. the who can

beat up the deal with the old i said fitz doubleton many couples won't. kill the child the put simply devil's spawn pose for a few of those of a few the hope of the. truths seem wrong. when all rolls just don't hold. any belief yet to shape our disdain comes to etiquette and indeed from an equals betrayal. when so many find themselves worlds apart we choose to look for common ground.

welcome back it's deja vu all over again as a new regulatory filing by bad boy bank wells fargo real deal that six hundred twenty five families families were kicked out of their home due to an apparent software glitch in a quarterly report to the u.s. securities and exchange commission well says that between two thousand and ten and twenty fifteen the six hundred twenty five families were improperly denied a modification of their mortgage due to a quote quote unquote calculation error the bank says they eventually foreclosed on four hundred of those same families now in their most recent s.e.c. filing wells says that they have set aside eight million dollars to compensate the families for the loss of their homes while fargo was paid a total of twelve point five billion dollars to the federal government for various and sundry nefarious acts that so far in this short century and just last week the

u.s. attorney for the northern district california forced wells fargo to agree to pay over two billion dollars to atone for their alleged role in originating in selling misleading mortgage loans with inaccurate income information that later defaulted jeez louise i mean it's not hard to see how folks get a bad name in the banking business. and now we head to berlin where artie's peter oliver looks at some regulatory troubles of the online lodging marketplace air b.n. b. and how some e.u. members are seeking to impose a digital tax here's peter. the us room booking platform air b.n. b. has received a slap on the wrist from the e.u. commission this week it's over the way prices displayed on its website they say things like cleaning fees weren't display properly or whether the person you were renting from was a private landlord or a professional landlord were also not make clear essentially it boils down to how

much a person is going to pay for renting the room and what rights they have while they're renting that room and this is the first time that the e.u. consumer rights bodies got involved with a company like air b.n. b. but this isn't the first time that air b.n. b. fall and fall in the european union they were strongly criticized for the way they operated here in berlin and in fact in barcelona they were slapped with a six hundred thousand euro fine back in twenty sixteen that's after they broke the city's rules on short term rentals in fact tech giants are firmly in the e.u. crosshairs at the moment fact i have been becoming at the smaller end of the to list when he includes companies like facebook and google they're potentially going to be targets for a short term digital tax that's looking to be pushed through the european parliament now in order for that to go through it would require the backing of all twenty eight member states and it just doesn't have that at the moment you look at

countries that are supporting it france spain and austria saying yes this short term tax would work but for every france spain and austria you've got an island luxembourg and netherlands who are very highly unlikely to support anything with the word tax anywhere near it but for air b. and b. side they say that their prices are currently clearly labeled on the website but do say that they'll work with the authorities to improve in the future now they've got until the end of this month otherwise they could potentially face legal action in each of the individual twenty eight member states. that's because there is currently no unified e.u. consumer rights body that could do the suing as it were but one of the reasons we may be hearing air b.n. b. saying they'll do whatever they can to help is because what the e.u. is looking to do is in the wake of volkswagens diesel gate scandal the emissions scandal they're they're looking to make it easier for a consumer to directly bring

a lawsuit against a major company and of course that could result in many many lawsuits that could end up costing many many euro. we think peter oliver the british pound fell earlier today to its lowest level since september of two thousand and seventeen trading as low as one dollar twenty nine cents yesterday the currency has been taking a bit of a pounding sorry for the bumpy brecht's negotiation process the latest came on sunday when u.k. trade secretary liam fox a brics enthusiasm mused to reporters that there was a sixty percent chance of a no deal brecht's scenario when the u.k. exits the european union the governor of the bank of england mark carney had made similar comments two days prior even worse an attempt to boost the pound sterling or at least slow it slide with an interest rate increase seems to a failed deal or no deal the u.k. is set to exit the european union in march of twenty nine thousand. instead of

protecting america's aluminum industry the trouble tariffs are negatively impacting many u.s. producers including the country's largest alcoa with profits being eaten away alcoa is asking the government for a waiver on canadian aluminum so that it can continue to meet demand for its products artie's alex mohai of its joins us from toronto alex thanks for being with us again as always we know that the trip ministration imposed ten percent tariffs on foreign aluminum including that would come from your arm up there from canada for what the president called national security reasons i'm not so sure about that but why is zero co asking for an exemption from the move. look at we we talk about a thousand times canada in the states especially if you look at world wide the way their systems work but canada the states were pretty integrated so alcoa like the whole aluminum industry in the steel industries are integrated between canada and the states now a coal is a coal is a hundred thirty year old company and someone think you know they're going to

benefit by the borders being closed down and alcoa feeding aluminum to the american people but that's kind of a tough one to how thorough i should say much of the aluminum that alcoa house in the states is actually imported from canada from its smelters rights all cocoa has three in quebec and that's a thirty three hundred people employed there working for alcoa and there's three in the states so that's what makes things really difficult for companies like alcoa when much of your aluminum is on the other side of the border and now you have to pay a ten percent tariff on it i'll call it saying that this could cost it one hundred million dollars in a year and that's a lot of money obviously a big problem for that company and we're also looking at the fact that when you pass tariffs up not only are the american people paying for the tariffs when the aluminum comes into canada or into the state to the states i should say it goes the other way around so exploiting becomes a lot more difficult as well because there's tariffs on the other side of the border there's tariffs now in europe there's tariffs in china and obviously there's

tariffs in canada as well against american aluminum and steel so this is the issue that we're looking at while the coal wants to do it's going to get a little technical here it's asking that section to thirty two to thirty two of terraces removed from canada and other fair trading partners so they're saying if we have two partners that we've traded fairly with not china because everybody's saying that china is the big bad guy here but obviously canada it plays a different part in this and as well as other trading partners now the documents alcoa posted on its web site they are there are showing us exactly what alcoa was doing here's a quote from the alko. site itself although a coal is both a u.s. manufacturer and purchaser of u.s. aluminum products the slabs that are the subject of this exclusion request or any substitute substitutable product are not available from other u.s. manufacturers and must be imported to meet alcoa's demand for manufacturing in the united states now the slabs we're talking about this is used to make mostly like

pop cans beer cans except for a but it's something that's not available in the states and that's where the issue comes into play and that's why all co is saying come on guys let's not fool around with those we won the exemption so we can go back to business as usual do you think the trump administrator is going to have an open mind on this i mean they have sort of gone back and forth and talking about waivers with people what what's your take right now with the waivers that looks like has gone through but fifty fifty so really there have been some waivers so far but that has to be proven by autoload that this is actually happening and that they need canadian aluminum the problem here is that there's other companies that are in the states that will go to the commerce department there's a whole process and they could say. we don't need that so they can cooperate this whole thing and it's actually happening according to the new york times twice with steel already that some companies wanted to do business outside the states they wanted to buy steel and the waivers were didn't happen because two of the biggest makers in the state said no we don't want to see that and the government sided with

them so that's one part of it these people are saying well you know what this is the reason why we can make this aluminum we can bring some of the old factories back to life and we'll invest more money into the country but bottom line is if that even happens who pays for this and we're already seeing it coca-cola cans are becoming more expensive for coca-cola and who's going to pay for that in the end it's going to be consumers and it's all trickle down that's what tariffs are it's the consumers who get hit in the end trickle down or trickle on it depends on your perspective i guess our correspondent alex while it's thanks alex. thank you. and on our last broadcast we spoke about missions standards and the difficulties of making money on electric vehicles well despite the rough and rocky road automakers are going ahead with progressive plans for the future of electric vehicles which ones will come out on top artie's ashley banks takes a look. by the year twenty forty experts believe that electric cars will dominate

the car market replacing conventional engine cars this may be hard to believe as the demand for traditional passenger cars in the u.s. is lagging quite a bit according to reports ford is looking to abandon passenger cars and the u.s. and focus more on trucks and s.u.v.s g.m. and tesla are estimated to lose thousands of dollars per unit on their time tesla model three's production is taking a major hit yet despite these odds over the next several years motors bokes wagon antalya motors bokes wagon and toyota motor will unload millions of electric vehicles on a global scale rebecca led land an analyst with kelley blue book says it will be very very difficult to make a profit but not impossible at this time the automotive industry is losing money on electric vehicles due to limited consumer appeal and tie cost however experts predict electric vehicles will take up forty to fifty percent of the global auto

market and a little more than twenty years general motors plans to sell one million electric vehicles a year by two thousand and twenty six that will include electrics and as u.v.'s tesla aims to sell one million cars by two thousand and twenty books wagon will see up to three million a year by two thousand and twenty five and twenty yoda's looking to sell five point five million by twenty thirty experts believe electric vehicles will soon compete with traditional cars and make profits general motors expects its electric vehicles will become profitable by twenty twenty one and analysts for navigant research says as a battery capacity and increases the vehicles become more appealing which will all combine to improve demand and profitability experts advise electric car makers so share technology and the cost of developing it will. other companies and order to make a profit or else they will continue to see losses and washington national banks are

t.v. . and that's it for this time thanks for being with us you can catch boom bust on directv 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 catches that youtube dot com slash boom bust r.t. so long for now. the

americans are still in shock they're still dealing with the psychological damage of nine eleven they still need enemies they still unjustified they are having troubles walking through it meanwhile the rest the world is. out. with a post. last time we chased. each one of them carrying twenty kilos of drugs.

forced offense to. lose that. is the very we i mean. they have this is the this is for me. i don't know don't. make or. break. part. around more.

twitter is accused of double standards after battling an activist for offensive comments against black people even though identical tweets against white people went unchallenged. so this our info was one of the most popular and most controversial alternative news websites has been banned by leading social media platforms for what they call hate speech. at a visit by the international chemical weapons watchdog. next week the media continues to speculate on the case i mean the u.k. has asked russia to extradite suspects. but i just don't know stories. stay with us

now for the financial news because the report will be with you. superman superman to superhero is also a journalist clark and as a journalist they're both fighting for the american way think about stacy. china i think about it and it's confusing to me but you know what we're going to do a little bit of a summer solution sort of episode here to match the one we did last week at the same time whereby we talked about the united states of inequality and how that is impacting not only global trade but the u.s. political system and therefore the global geo political system we were discussing that perhaps this is a seismic shift in geo political power many people talk about china as being the

next rising superpower they certainly have on a person saying power parity and economy bigger than the united states but whether or not china will be the new next superpower and one of the things you and i have been covering for the last few months is that one belt one road policy whereby they're spending billions of dollars trillions of dollars in fact to build roads ports bridges railroad to basically do a new silk road whereby they can trade easier with right now untapped parts of the world so china overloading poor nations with debt top u.s. official says china saddling poor nations with unsustainable debt through large scale infrastructure projects that are not economically viable ahead of the u.s. overseas private investment corporation oh pick said monday.

are we supposed to be overloading countries with four countries that the sources say are the mimicking the u.s. policy of the empire of debt or is are they making a boo like they want to take over for the u.s. they want to compete with the u.s. they have artificial intelligence driving their policy does the ai boss driving china policy in the polar bear of china tell them that they should be loading this park with what we're going to get into the ai story in a few headlines from now but i do want to stick on this story in terms of the debt of course yes. the united states did get very wealthy of the banks to get wealthy by loading up poor nations with debt and then having the i.m.f. i.m.f. come in take those private debts and make them national decimate socialize those debts and impose austerity on various countries around the world the us also got wealthy even earlier than that by being yankees i started to as the dutch called them they were stealing all their copyright ideas they were stealing their intellectual property and things like that hundreds of years ago and china is doing

the same now and we complain so here yes it is a bit ironic for the us well this is a us official with opaque us overseas private investment corporation so he's complaining publicly and getting reuters and well like that to publish says but them look what happens well the criticism of beijing targeted by president trump in a trade war has sent ripples through economies around the world comes as washington seeks to ramp up development finance in the face of china's global ambitions these lawmakers in the united states now are introducing advancing a new law called the bill act i b u i l d through congress that washburn this guy the head of this oh pick the private investment corporation says should bolster private u.s. investment in developing nations by doubling opec's access to u.s. treasury credit to sixty billion dollars but i when i was

a way. look china have the policy for decades now to go into countries and build stuff bridges tunnels schools and to get a piece of that action the u.s. policy for decades has been the going to countries and bomb stuff bomb schools bomber oh was bomb people terrorize people and still stuff so now you're saying that the u.s. is going to change gears they're going to be like way maybe we should stop bombing stuff and start building stuff. now there's no talk of. our sort of policy of bombing and having the unique you know monopoly has forced china to have to do trade deals and. basically offer many carrots to people around the world but here this trade representative this guy who wants some free basically taxpayer money from the united states sixty billion dollars worth to go compete with china what if peacenik is

a hippy now. and i'm going to boom by yon joint and we're supposed to be bombing where america well you know so they can't bomb these countries this is china china has one point three billion people and a massive military the biggest military in the world. and road is going through places like russia we can't bomb them either we can bomb we can bomb libya we could bomb iraq is places that are deserts in the middle now where and those are the places that we go into we can't even bomb the likes of vietnam anymore because we've learned our lesson so here they're basically he's saying well that's really unfair what china is doing they're loading up these countries with debt like in sri lanka sri lanka they had a porch or a bridge or something built from china and they couldn't pay the debt so now china owns that port so this is what they're doing this is what the united states did before but this this guy is going to the u.s. people saying how dare look at this horrible situation over there give us some money and we'll go and compete who will well offer our own unfair you know.

precedent in the u.s. history of course in the one nine hundred eighty s. citibank i believe under walter wriston loaded up argentina yes with a lot of debt and then they did something that nobody had done before they defaulted their sovereign debt default and then the u.s. came in and they started running argentina and they started running it into the ground in a very still suffering today so china well they avoid this outcome are they once they start loaning these folks all this money and there is a problem is paying on. the stuff back are they going to then do america citibank argentina or the how are they can they figure that bit out yet or are they just going to blindly go to make the same mistakes that american spirit well they've already worked through the w t o to get things to their advantage against the united states or other trading partners and i'm sure they'll use the you know these are contracts they're written under international law and abide by international law they're giving them money in these countries need course they need railroads

but private investment hasn't been there nor has any way whether they're given the money that's our money they've got trillions of dollars of due us dollars they took whereas they sold junk to wal-mart in exchange for our jobs now they're going to give it to other people our money and to compete with us that's not fair stacey well it's interesting is that they decide they are clearly not confrontational as you mentioned they don't bomb and they don't invade in order to execute these trade deals but they are targeting areas that the u.s. does not have already advanced relationships with they're not doing this in places like mexico they're targeting places that the u.s. doesn't enter u.s. corporations and particular don't enter like africa and we're going to talk about african the second half so they're looking at places that the u.s. is not already powerful and like mexico like canada you can't really compete with those united states there. you know so they're they're they're building and they're

executing their trade deals in places that like for a long africa these are not places that u.s. corporations are very active in but this is a way for them to continue to build their technology their innovation their you know first mover advantage of course the extractive industries like mining minerals energy or a what drove the debt and financial revolutions of the past few decades but we're entering now into a purely digital economy so these. areas that you mention there like sri lanka it is nothing to extract from the. core of the earth and run away with but they do have brains they have people and they are connected to a global network and they will be part of chinese incursion into global fin tech and things like that so there's a lot of folks out there that are not part of the you know the unbanked for example if china were to say hey you know what there's like three billion people that citibank doesn't control we want to have them on and financial you know jack miles

company or some chinese company gave gives us incredible operating leverage in the twenty first century so you know we've overlooked we're obviously overlooking the trillions of billions of people in the in the global economy that china's failures is going to be a huge asset if i may say yeah and the nightly news here by the way the cable news you would think it's all russia russia russia while we've been focused on first for twelve fifteen years and now russia russia russia like so much is happening around the world it's unbelievable that like how rapidly china is taking our place economically and you we can't control that we can't compete economically sun even russia it's russia nine hundred fifty five yeah but we in terms of this story that i'm talking about is that we the united states cannot compete economically anymore against.