leinil media what the future holds also i'll tell you about some breaking and curious crypto news out just about two different countries italy and and really india they're taking decisively different directions on crypto currencies were jam packed as usual so let's get right to a few have. china's warning that they are withdrawing from trade talks with the us plan for next week has become more than an idle threat even worse trade issues now seem in tango with geopolitical issues of war and peace on friday chinese trade diplomats scuttled the expected trade talks as promised over president trump's imposition of tariffs on an additional two hundred billion dollars worth of chinese exports to the u.s. a chinese foreign ministry spokesperson told reporters nothing the u.s. has done has given any impression of sincerity or goodwill the chinese foreign ministries top deputy has summoned u.s. trade and bastard terry branstad for a formal airing of grievances over u.s.

sanctions not tariff but sanctions against china the u.s. sanction the chinese army and its director over weapons purchases from russia since the u.s. already has economic sanctions upon russia a spokesperson for the chinese defense ministry called the u.s. sanctions quote a blatant violation of basic norms of internet has not cut the deficit enough like he said he was going to in the last presidential campaign and they need to do so what do you make of that one well that is odd in my view because fifty six percent of the g.d.p. of france is attributable directly to french government spending so to cut spending in france would result in serious impact upon their economy that said again as we said earlier if they can cut the spending and generate more hiring and have more revenue to spend on other effects then perhaps it will work but i was puzzled by that one because for a labor union to suggest that you need to cut spending rather than raise taxes i found. it was sort of odd to hear that from the labor usually one wanting spending

on either programs that help their members or programs that like i was mentioning infrastructure earlier that create jobs for their members so i was struck by it too but i'm so glad that you said the g.d.p. ratio to the deficit because it actually is a big part of it in this case and the spending for better or worse it does help to growth growth can arise either from government spending or tax cuts that give rise to more money in the private hands to create the spending there that's the long term issue and this week we have the finance minister for italy sort of the other tale of these two strategies on deficits who is to release the budget for the next year giovanni tria and the call there is for mr trius to increase spending to accommodate the president sergio materiel is promises that he made in the

presidential campaign and italy is already on a rough and rocky road with their economy right they certainly are and it's very interesting to see they're going into a stand a campaign political campaign and so to cut spending there will be very interesting to see in fact italy has declared they're going to increase spending which is very interesting insofar as it runs against e.u. debt limits the e.u. has very strict rules about debt limits they're not being more or less than three percent of g.d.p. so we have to wait and see whether that. says they're going to care more about italians and they're going to care about the e.u. so they're going to increase spending i think for political reasons as well so interesting before we let you go professor i wanted to circle back on a matter that we talked about once or maybe twice and that is something that i assume is not going to happen but i quite frankly have not paid a super lot of attention recently and that is the trumpet ministrations proffer to. try and reduce taxes yet again going no place fast or as or anything

new you got it going no place for tax reform to they're calling it and the house is going to take that provision up i think this week or next but needless to say it's not going to gain weight of the senate we're going in the midterm elections we know what's going on there absolutely got the midterm elections coming up in november and it's possible that the house could change from democrat to republican hands who knows what will have to have to see but very hopeful thank you so much professor that great to see you good to see you. and not long ago we took a look at the french stock index the cac today we look at the german dax here's our correspondent peter oliver from berlin the dax is germany's blue chip stock market index and amongst the global names listed there are the likes of siemens the pharma suited coal and chemicals giant by the automotive international daimler group they're the guys that bring you miss eighty s how does that look right now it's

been affected by a ten point plus drop in the indicator of economic sentiment well what that gives an indication of is the opinions of economic columnists sound of analysts of how they think things are going to pan out and it's not making good reading at the moment ten points plus down it is however better than the thirteen point drop that was predicted now this drop in is that he did it didn't affect the currency markets we see it we saw the dollar in the euro route trade relatively as they had before however it was the dax the took a hit and in fact any type of recovery of those numbers has been incredibly sluggish as germany's stock exchange is being slow to recover. and we thank peter oliver for that report and as he mentioned a few of the largest stocks traded on the dax there's a little more on those siemens

a german technology engineering multinational started off the year here seventy dollars per share but is down to about sixty four dollars in trading today and buyer a bear the drug maker and newish owner of troubled one santo which we've spoken about related to their weed killer problems has seen a decline as we might expect in stock prices this year especially following that ruling which awarded two hundred eighty nine million dollars to a plaintiff in california who said his cancer was caused by a month's santo's weedkiller the stock went from just over thirty dollars in january to just above twenty two dollars in trading today and dimer agena which owns among other things british sadie's benz has faced some troubled times related to emissions scandal that expanded to other automakers outside of the first both swag and including done work at the start of the year di more stock was roughly eighty two dollars per share but it has dropped also to sixty six dollars in trading today. a meeting of policy makers from the organization of petroleum

exporting countries and select group of non opec allies and stakeholders russia most notable in that second category concluded without any action to increase supply and lower prices the defacto decision to take no action came after u.s. president donald trump demanded action to lower prices via his favorite method of communication twitter mr trump's online shouting seems not to have swayed anybody at the meeting though the saudi oil minister tried to move the issue of the ministers in action saying quote since june saudi arabia has met the demand for every barrel that has been requested the minister seems to have protested perhaps too much when he said flatly i do not influence prices. and time now for a quick break but hang here because when we return after the weekend. auction comcast is purchasing you case guy we'll look at comcast as the energy and ask our

friend steve malzberg a line of why no media what the future holds plus i'll tell you about some curious crypto news out of india and italy which show the nations are headed in decisively different crypto directions as i go to break here are those numbers at the closing bell back and forth. in a world of big partners. and conspiracy it's time to wake up to dig deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smart we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for

the truth the time is now for watching closely watching the hawks. high frequency trading game it's all about space look at goldman sachs can figure out a way to go backwards in time and still money from trades in the history they would do it but the second best option is to just increase the speed in the here and now to steal that are much rapid. to imagine decades after the war a nazi don't a that was still active. in the nineteen seventies cretonne had as the chair of a man convicted of mass murder and slavery as a german company develops in the demise of drugs which was promoted as completely safe even during pregnancy. terrible side effects what has happened to my baby is anything. she said he's just. minix of it among victims

who have to this day received no compensation they never apologized for the suffering their not only want the money i want the revenge. welcome back the government of indian prime minister narendra modi is having trouble procuring three dozen new fighter jets opening a rift with france and a window for a u.s. plane maker boeing that is to push for changes in indian procurement policies for us president mannion mccrone angered indian officials when he suggested that official pressure had been used to coerce french just jet maker just salt into doing business with troubled tycoon bonnie the charge set off a predictable political storm in india given the important wall of corruption as

a political cultural used by president modi is party the b j p against the congress party and through the president of boeing in india who has called for him. to weaken its procurement policies that require inclusion of in country companies as partners these so-called offset program critics have suggested the offset program can create corrupt arrangements such as the one alleged by president mccrone. and sticking with india jet airways of india is writing currents of increasing financial turbulence this week that carrier owned and founded in one nine hundred ninety three has been hit by unfortunate headlines recently after jet airways crews failure to properly pressurised a flight from mumbai which left passengers bleeding from their ears and nose a mess or report seems to punctuate a series of setbacks for jet perhaps the most serious news coming early last month when the directorate of civil aviation declared that they would audit jets books

later jet announced its second quarter of losses after the initial release of the report was delayed in twenty eighteen jet was denying a bid to merge with a subsidiary and did not muster an attempt to bid for air india reports are that the indian government is now concerned enough to measure which could lift jet including a cut in jet fuel prices and aircraft servicing taxes as well as more generous credit are being considered considered to help. and we now move to that media auction over the weekend that we told you about last time where comcast and twenty first century fox were bidding to own telecom and broadcasting giant sky u.k. sky is the largest of the u.k. pay t.v. companies and comcast has one although some might question if it is a win and a cost to thirty nine billion dollars here to help us understand a little more about comcast and which some outside of the united states and some within the states might not be aware of and the future of what holds for both the

company's line of wine old media conservative t.v. and radio commentator steve malzberg gentlemen welcome thanks for being here and lionel first let's start with you tell us a little. give us sort of the fifty cent tour of comcast a big deal here in the u.s. people may not know outside of us tell us a little. comcast is the second largest cable in broadband company here in the in the u.s. it owns a number of it's about forty states or so a lot of the fifty it has a number of programs over that. programs and devices and the like it also by the way own n.b.c. universal and b c m s n b c it has a news footprint as well but it's looking to go elsewhere because the bottom line is that everybody else will tell you the bottom line is going to be subscribers and subscriber platforms and especially when we have a cut the cord mentality in this country they have to either diversify or perish

and arresting and steve we spoke about this on friday. the auction before it occurred now that comcast has won the bid at thirty nine billion bucks are they going to really be hands on are they going to go and pretend they know what's going on and europe what do you think. well if you listen to brian roberts the head man at comcast he says that sky will operate independently me with the backing i get all choked up when i say these kinds of figures with the backing of a one hundred fifty billion dollars company which is comcast he pointed out that all their businesses he likes the leaders to act independently he favors entrepreneurism and also he favors the spirit i should say and the fact that everybody has their own input and decentralization is an important part of the company i have to feel that and by the way he also speculate

that the head of sky will remain on so all these statements and actions do indicate that sky will maintain a great deal of independence but because as lionel correctly pointed out obviously owning n.b.c. universal and being that it's such an important get for comcast for the future of n.b.c. going forward i can't help but think and call me a skeptic that they will you know have their hands and noses and faces in there and rightfully so to an extent because it's not just another business it is key to a big part of their business surviving and going forward and lionel tell us about that key tell us about the footprint of you know i noted in our opening that they were the largest pay t.v. in the u.k. but they're more than that tell us more. well again keep in mind that the future right now you know in the old days it was content content content and who are your stars and what are your programs and what is your fall line up today it's how many

subscribers you have where are you with about twenty five million new individuals including europe and italy in the u.k. and ireland and that but also interesting the enough what some people are saying is they're finding that the regulatory bases and their regulatory labyrinth that they have to deal with in europe is far less cumbersome and problematic than a lot of the regulatory problems here with anti trust and the like so honestly it might provide less of an administrative quagmire but as i said and i'm repeating myself the bottom line is going to be non this is fairly holdings but how many subscribers do you have where do you have this is the future not theaters and that's going to be tabletop is going to be is going to be a laptop it's going to be computers how many people and cable companies are the problem telecom companies like eighty eighty there are number one that already bill did so with subscribers subscribers subscribers that's that's the the methodology

yeah absolutely and steve we spoke in the past when there's a bidding war was going on and that twenty first century fox which is now owned by does the that does the own so i think you told us thirty nine percent of sky so it's a minority but it's still thirty nine percent that's a pretty big deal so we assume that comcast once that thirty nine percent or does the ones to keep it there what do you make of it well i believe comcast wants it desperately they don't want to deal with disney i don't think they're they're friendly with disney i don't think that robertson and bob iger a best of buddies after they went through the bidding war for fox were by the way uyghur i believe think said comcast drove that price that disney had to pay you. over seventy billion for fox even though they maybe had no intention of going through with it. so here's here's what's going to happen with the thirty nine percent because comcast made the bid so high as you pointed out almost forty

billion dollars there thirty nine percent of sky disney's thirty nine percent of sky is now worth fifteen billion dollars at that offering so some say this is going to cash out take the fifteen billion and pay down some of that debt that they incurred for the fox deal others say that maybe they'll just stay in it and ride and see what you know what sky could do for them it's a joy all that and the crown that that i wanted but doesn't have one other footnote here five may one of the caviar at disney owns now because a fox a by buying fox sixty percent of hulu comcast owns thirty eight ten so there might be a swap in the offing here which doesn't even get total control ninety percent of hulu but i know you view that as a possibility. oh absolutely and by the way one more editorial note the guy who came out aces is murdoch i mean he was he is doing terrific because now all of

a sudden his skype because remember skype skype shares one up comcast went down this morning the first the first few ports were that this is a boon comcast was up as soon as they looked around as a way to did you just over a this what was the purpose of this that also did a switcheroo look at how murdoch always ends up ahead of this and remember what are we talking about hulu new platforms new subscriber bases it will be a switch one where the other and there certainly is steve says no love lost between comcast and mr iger not at the line a resume went up over two percent today as well so they lost but at least in the short term disney might have won as well yeah i was looking as i'm glad you mentioned the stock price both of you because i was a looking over the last five days if you look at comcast it would be down but i say well that's five days you know what is it today what is it after the auction still down just a little not a lot but still down so i think a lot of you are

a lot of these concerns are right and you know did steve do you think they may have overpaid for this thing but it's incredible when this bidding war started in two thousand and sixteen since that point to the final forty billion dollars or a bit off or if the price is more than doubled their share price is more than double the offer double i mean it's incredible how does a company like sky's value double in two years when basically it's offering the same product so yeah and i think disney played a hand in that because in the bit in the betting comcast paid ten percent more than disney's highest bid so i think either smiling all the way to the bank right now and lionel finally is also going to go right ahead. you know it's interesting because both sides accuse others you know when this thing first started off. comcast is being played as the genius by playing this cup of blanket chess move by forcing uyghur to to to overbid and that say ok fine it's yours that he stuck with

ha ha now it's switched all of a sudden now comcast says we want sky and uyghur sits back so sky comcast looks like it loses so in the long run what the street is saying is it's so washed sure and maybe too much it may be over but not only over leverage as well but in the long run who knows but both of them were both guilty and the recipients of this particular move. boy thank you so much guys appreciate it steve malzberg and why i know of why and all media we appreciate your time thank you bar thank you . and before we go we check in with crypto says india's central bank the reserve bank of india has told the supreme court that not only will they prohibit the use of crypto currencies but that their ruling should not be challenged by businesses we'll keep an eye on that which is pretty interesting for the fastest growing economy in the world. and in

a tell you news today i fand token cryptocurrency will be offered by the juve's ball club that's the football or soccer team that both star player christan e o. or naldo rather the team has one of the largest fan bases of any team in the world and a massive social presence the tokens will be tradeable and will be offered on the socio us platform that's a crowd management block chain text lab platform which is seeking to monetize the sport it remains unclear if the token will go through a traditional ishall point offering and i.c.a.o. to raise funds but the concept of sports block chain encrypt those is not only interesting but could be a great goal for all of sports and that's it for this time thanks for watching you can catch boom bust on directv channel three twenty one dish network channel two a day or streaming twenty four seven on pluto t.v. the free t.v. app channel one thirty two or as always catches that you tube dot com slash boom

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