which joins us to consider what it all means and it's been more than a year since amazon took over whole foods has that taken a toll on other natural food retailers artie's rachel blevins gives us the latest first we get to some of the stories topping today's headlines leading our market report the managing director of the international monetary fund christine legarde has said that currency crises in emerging markets could intersect with the u.s. china trade fight exacerbating both sets of problems ms legard lamented that the cycle of threats has already begun to corrode business confidence even before major economic damage has taken place she told the financial times that the u.s. china tit for tat tussle could deliver a quote shock to emerging markets but also caution that she does not yet see any signs of specific contagion problems in nations including turkey mr gard also made news on a personal career note batting away suggestions that she was considering succeeding

either european president john claude juncker or european central bank president mario draghi missler guard is in the middle of her second five year term as head of the i.m.f. . now we turn to the category three hurricane florence which is bearing down on the southeastern u.s. the storm which is expected to make landfall late friday early saturday is currently packing sustained winds of one hundred thirty miles per hour with gusts up to one hundred sixty while some officials seem to be grasping for the words to convey the scale of the threat suffice it to say this is not a drill it's the real deal the storm has already compelled authorities to warn an estimated five point four million residents to evacuate through some lack of although some lack the actual means to do so and they have no other option other than to prepare to shelter in place states of emergency have been declared as far north as maryland and right here in washington d.c. the governors of the states of north and south carolina. invoked anti price gouging

laws as part of the emergency declarations many store shelves have emptied and across the region as residents are stocking up the current forecast suggests the region could be pummeled per up to forty eight hours after florence makes landfall . chantelle post look at what could be the impact of what are the economic and market effects of hurricanes generally we are pleased to once again be joined as always by the full effects and fascinating little journalist that ring of fire network molly barrows molly you were down there in pretty pensacola florida where only a week ago hurricane gordon was bearing down but thankfully it weakened to a tropical storm we now have the real deal with florence when we look at damage and destruction to people businesses and economies put hurricanes into some proper perspective for us. well high bar yes here in pensacola we are no stranger to hurricanes been through the many times covered many times seen many communities

devastated by them and there is some debate as to whether or not a storm the kind of economic impact that it really takes is it something that ultimately benefits communities when they rebuild and it pumps some jobs construction and those related to rebuilding and repairing but ultimately there are analysts say it's the equivalent of giving a community a tax hike or even an economic crisis depending on the severity of the storm so it's not exactly a welcome thing because it takes so long for these people to to recover and that's what we certainly saw in pensacola that's what we've seen in numerous other storms you see a real jump immediately maybe in some construction and service industry jobs which certainly we rely heavily here along tourist areas along the gulf coast so many of these areas even the communities on north carolina and south carolina that are being threatened by florence now it's the same sort of thing you have a lot of people that are relying on service industry jobs whether it's hotels restaurants they're going to likely be out of work people are going to be patronizing them even when the power does come back on again supposing they didn't

get destroyed in the storm those people are going to be rebuilding as well so it's a mixed bag for the most part people have a tendency to say that it is bad for an area economically to get hit by a storm part and quickly give us you know the impact on energy and specific pacifically with regard to harbor but do do that briefly because i want to get on to florence a little bit more. absolutely loveless as you know gulf coast nearly fifty percent of the united states refinery production so when harvey was bearing down on the gulf coast a lot of that those refineries basically shut down now oil production itself and gas production that took a slight went down slightly but actually it was the refineries that took longer to get back on line so that's when you saw the gasoline prices start to surge and of course of the colonial pipeline that comes from houston to new york that was also shut down for a little bit due to power outages so that impacted some prices as well and a lot of it's just a guessing game to see where these storms are going to be and people are reserved

and concerned and it's the fear as much as before the storm even hit say causes some of these prices to change well you know there's not that sort of energy infrastructure in florence's path but what might be some of the large impact is i remember years ago from hurricane floyd back in ninety nine that hard for me had a big impact what's going to happen do you think. you know what a nightmare for those folks i mean that was a category two storm back in one thousand nine hundred nine they're looking at a category four and just downgraded to a category three hopefully it will continue to downgrade but you have so many hog farms and you still have more than two thousand hog farms industrial in that area and as you mentioned when the storm hit you know back in one thousand nine hundred nine people lost their lives along with millions of livestock are talking hogs and chickens because of the hog industrial industry there and also because of the way that they are raised in bred they basically these hogs sit in a soup of fecal waste and that's how they keep them healthy if you will and drain it as best they can environmentally but when these floods come in which is what

took so many lives of livestock and people took that waste and that toxic hazardous fecal waste throughout the community also in harvey going back to harvey you had flooding there as well and some superfund sites where there was some concern that they were having talks and materials washer that community so the e.p.a. as well as hog farms in the communities in advance of florence are taking steps right now to keep an eye on some of their superfund sites and their other problem areas and already draining the hog lagoons if you will ahead of the storm to try to minimize the impact and avoid what you saw in one nine hundred ninety nine and just real quick molly generally when we look at the stock markets how do they react to her kids and i know it's going to differ widely but is there an overall consensus or sort of what generally happens yes the overall consensus generally is that any business that's related to reconstruction or repairs you're going to see them do well that's going to go up but any business that deals with again the service industry whether it's hotels or travel and leisure stocks related to insurance

those are going to see a bit of a dip excellent molly barrows legal journalist national tour oh i'm sure you do or that you're not there you're there also but you we appreciate your time so much molly it's always great to have you thanks so much. thank you bart. and as a storm continues the truck of ministration has unveiled plans to allow increased emissions of meth thing in an extremely potent greenhouse gas the u.s. environmental protection agency or e.p.a. has announced that they will effectively repeal a twenty sixteen executive order from former president obama that placed stricter limits on methane emissions from fossil fuel operations methane is a heat trapping gas twenty five times more fun twenty five times more powerful than carbon dioxide scientists say the change would effectively result in an additional three hundred eight thousand short tons of methane emissions by twenty twenty five the trump e.p.a. says the move will save the fossil fuel industry four hundred eighty four million

dollars over six years while scientists say that specific hurricanes such as florence cannot be attributed to climate change it is making those that do develop stronger by heating ocean surfaces which fuels such per barrel now rising costs for labor and equipment is putting a damper on the rapid rebound coupled with difficulties disposing of the unwanted and contaminated waste water and natural gas produced alongside the oil and limited pipeline capacity industry experts are debating whether the slowdown will prove to be a bust or just a breath pots familiar names that halliburton seem optimistic about the industry as a whole despite the slow halliburton officials believe this is a long game for north america and these are the early innings with more ups to come citing more subdued growth is expected but growth nonetheless u.s. shale producers in the permian basin account for more than one third of all domestic production hovering around three point four million barrels per day

permian producers are only fetching around fifty bucks a barrel due to capacity woes more infrastructure concerns as producers find it increasingly more expensive and more difficult to transport. crude from midland texas out to the gulf of mexico producers being forced to use less efficient modes like trucking and rail some even forced to put their inventory in storage the overall infrastructure bogging down perhaps a victim of its own recent success the industry as a whole still facing lots of backlash from environmental groups and concerned citizens alike who for years now have complained of fracking methods contaminating their water sources emitting odors from their fosset and even making their tap water flammable meanwhile on the global stage president trump has been accused of seeking higher oil prices to support u.s. shale production in spite of his public attacks on opec over the high prices of oil in washington manila chan r.t. . and there is more good news on the u.s.

economic front and this just out today according to the u.s. census bureau on average u.s. household incomes rose last year to sixty one thousand three hundred seventy two dollars that's up one point eight percent when adjusted for inflation time now for a quick break but hang here because when we return we look at new data details one investments in financial technologies in the united kingdom with the c.e.o. of straw market where board which plots it's been more than a year since amazon took over all the food has that taken a toll on other natural food retailers archies rachel love it give us the latest as we go to break here at the numbers at the closing bell west texas intermediate oil w.t.r. was trading in new york today above seventy bucks a barrel and the global benchmark which when you were referred to brant crude oil was trading in london at nearly eighty dollars per barrel i will make those shell guys happy we back it up one.

my body told me that i belong with the board but my thoughts my mind with that along with the girls. under the surgery still be of any particular. person's doctor. i was born a male had a sex change when i was thirty years old. i've now been living as a woman for twenty eight years and i fully regret this. problem should have gone away from by now but they hadn't so these surgeries are nothing more than plastic surgery i've had several female to male friends and you look at it and you just go

oh god you paid for that it's horrible nobody can change genders is impossible. is still luzhin it's a mental illness. this is not one of my bones from flesh or from my flesh she shall be called woman because she was taken down from a. just manufactured consent instant of public wealth. when the ruling classes project themselves. in the frame of. the one post that. we can all middle of the room sick. i mean real news.

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a wobble. this idol of the. well back heading across the atlantic the european parliament has taken a significant move to settle a long running legal and legislative dispute over how to reboot copyright issues in the digital era parliament has approved a bill seen as a victory for digital content providers over content creators sites such as you tube will have to meet a good faith legal standard and negotiating with rights holders over copyright infringements and on the other side of the argument have been voices warning that stricter standards would narrow content available to internet users the bill will

now be tabled for to go between the parliament the european commission and national governments. and we know that digital innovations have been particularly disruptive in the media sector and there are over there are other sectors of course seeing incredible innovations chris. the currencies as we talk about a lot in the show in the financial sector are just one albeit a big one will even as the battle continues the united kingdom the financial sector there is moving fast forward with the launchable disruption. in the financial technology the c.e.o. of strong market were ford which helps us take a look here we thank you again for being here great to be back so these numbers i mean i did what i like to use it too much for the audience but they really surprised me is how large the were and who the u.k. was beating excited for right there actually huge and there's a number of reasons behind us first off in tech what is it used to have these kind

of study financial institutions and they just use technology behind the scenes now it's actually enabling all of what they're doing and it's helping in terms of regulation compliance is used enter and in every single aspect of finance so it's like you say a vast sector so why the u.k. and what is it well the u.k. has three sort of advantages and three reasons one tremendous stability of the financial sector in the u.k. over three hundred years the london stock exchange has been in existence but also fost forward to today the u.k. government has actually been one of the first governments to actually have a fin tech sector strategy they want to ensure that the u.k. remains in the lead if in tech that's number one secondly you've got the global sort of center of finance was the global center of finance in london many reasons one of which of course is that it's really time the center of the world financial institutions can operate with their asian counterparts and their asian professionals as well as the us and they can operate around the globe in the center of the world one english is the second language for everyone around the world but

also importantly two hundred fifty or more foreign bank of banks a glow catered in london and you have over thirteen hundred global companies with their headquarters there for one hundred countries so why it's a financial center and last but not least you have world class education with this huge i.t. into. a lot of entrepreneurship with a lot of the best of the brightest of the brains that's what's driving it out of the u.k. it just you know i would have just assumed it was all going to be. and there's a lot of new york comes out of california cisco and china to some extent and. it makes a lot of sense i mean if you're trying to do business you know at four o'clock eastern time there are asleep in asia so does it help you too much this was a i think was a key p.m.g. your former employer back in the day that was not recently but they came out with this i mean how big are these number in you know who are these folks that are funding this investment. well to answer

a question in terms of k p m g yes their report was the basically the pulse of fin tech they're very much on top of this and about globally is that fifty seven point nine billion globally in terms of deals eight hundred seventy five deals the u.k. actually has over hoffa of the top ten deals and in all of europe and about sixteen billion worth of deals are in the u.k. now as to your question as to which companies the companies are top ten globally i'll take five of them just a spot around the globe like you said not just the u.k. ok so we have out of you mentioned california we have so far i they were started by four stanford graduates now about nineteen million in loans and over three hundred thousand members you've got and which is you mentioned and to there from china yes that's a spin off of ali baba actually out of sweden interestingly enough. think it's klara there are an online firm with all the backend and out of holland the dutch have it's called yen and that's about processing across the board behind it so it's

not the big banks not necessarily although royal bank of scotland and some others have really jumped into this as well and they using a lot of these terms for their backend and their compliance group that's super helpful as always this is so great it's great to have you here exploiting all of this. when i think it was also about let me just if i may just add sure it was all for me about. the law you know one of the unintended i would think people would be scared because of they wouldn't be investing in the u.k. well actually no one of the unintended consequences of these brussels bureaucrats of compliance all the compliance and all the regulations coming out of europe is it's called reg tac and that's all these financial companies in the technology behind it they're for compliance issues so they've actually for once you could actually say brussels bureaucrats actually created the business does it take for us to talk about that reg tech in the future automating regulatory compliance another whole topic c.e.o. mark thank you hello i'm left out absolutely. the outgoing president of

the european commission john clarke juncker used his final state of the union speech to call on europe to assert itself more boldly in global diplomacy and suggested pushing the euro as an alternative reserve currency mr juncker quipped quote yes we are global players but payers rather but we are also global players so mr juncker pointed out that european union members states actually pay eighty percent of their energy bills in us dollars the current reserve currency and said quote we will have to change that the euro must become an active instrument of a new sovereign europe he said the pound sterling rose in currency markets after mr junkers comments and as we've discussed here the german foreign minister hochul must also recently suggested displacing the dollar. and the european parliament also made news today by issuing their first rebuke of

a member state over breaching quote common values of the european union four hundred forty eight legislators voted to approve a report that cited the government of garion prime minister viktor orban over its record of taking defacto control of the courts silencing. critical voices in the media and aca damia and verbal and legal attacks on refugees and migrants the vote is seen by many as a turning point for the european right as one hundred fifteen e.u. legislators from oregon's more center right allies from the european people's party called ition voted to endorse the creech critique and debate the report's main sponsor told her colleagues that faced an important choice that she will quote will you let it happen that government by a late the values on which this union was built without consensus or you wouldn't you will you ensure that the values of the union are more than just words written on a piece of paper. hedge

the purchase of whole foods by amazon take a toll on other natural food retailers this might surprise you or cheese rachel blevins gives us the latest. it has been a little over one year since the merger between amazon and whole foods was announced and the impact of is having on grocery stores nationwide may not be what you would expect amazon first announced that it was buying the whole foods for thirteen point seven billion dollars in june twenty seventh seen when amazon started slashing prices at the organic grocery giant two months later the facts were apparent shares were down for sprouts farmers market is super value kroger costco target and wal-mart with the six stores and michel we are losing nearly twelve billion dollars income buying to market capitalization amazon launched

a round of price cuts at whole foods that targeted produce such as organic apples bananas and all the crowd and in recent months amazon has added discounts and delivery options for prime members who shop at whole foods recent reports indicate that not only is whole foods thriving in twenty eight scene but other healthy grocery stores are also seeing an increase in revenue resale data shows that amazon's visible store sells have increased significantly and shares are up by as much as twenty percent at stores like sprouts kroger and natural grocers analysts noted the farmers' market has seen very little share loss in markets where it overlaps with whole foods because the majority of its stores are located in middle income suburbs where hours whole foods tends to target areas where consumers are less price conscious amazon. face criticism for centralizing purchasing and raising

supplier beans which have sent some sellers to your local grocery stores to make a profit from their produce reports have also noted that whole foods rivals have been forced to decrease margins to keep up with pricing staffing and convenience with some relying on federal tax credits to stay afloat one year after the merger it appears that amazon's investment is paying off and while some consumers are enjoying the latest prime deals at their local whole foods there is still enough business to keep other health food grocery stores and the game in washington rachel watch bens artsy. and that's it for this time thanks for joining you can catch boom bust on you tube or on direct t.v. channel three twenty one or dish network channel two eighty so long for the.

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