workers will receive an additional pound per hour due to high cost of living in the city amazon also says they will support an unspecified increase in the u.s. federal minimum wage moving their stated position closer to that of their chief critic senator bernie sanders senator sanders spoke about the ways earlier today in washington. it is no secret that i have been a harsh critic of the wage and employment practices of amazon and its owner jeff bezos it has been my view that the middle class and working families of this country should not have to subsidize it is the days of those the wealthiest person on earth because the wages he has paid his employees on a solo on the many of them afford to go on food stamps medicaid and subsidized housing and other governmental programs today i want to give credit where credit is due. and i want to congratulate mr barry's host for doing exactly

the right thing. in june to c.n.n. as to made that if the median worker's salary at amazon is twenty eight thousand dollars as the company claimed then amazon owner and c.e.o. jeff bezos makes that amount every nine seconds mr bezos was named by forbes magazine as the world's richest man in twenty eighteen with an estimated fortune of one hundred and sixty five billion dollars a notable elements in that vast fortune is the washington post newspaper which mr bizos own personally. indian authorities have moved to legally declare a major national infrastructure builder and solvent in order to prevent what some foresaw as an approaching lame in moments of systemic financial instability on monday india's national company want the company law tribunals granted the indian government's request to take control of infrastructure leasing and financial services a major so-called shadow lender also known as i l n f s the action was taken under

authority created by india's insolvency and banking code which only became law in two thousand and sixteen iola fast has been a large and prominent participant in the is building boom. notably built in the is longest tunnel but shahani not sri tunnel which opened in two thousand and seventeen but throughout the month of september mounting financial problems that i l f s including several defaults began to worry investors and authorities on the last friday in september the federal reserve bank of india met with i.f.'s as three biggest investors to press them to end the series of defaults now the government says iola finance finances were clearly mismanaged and restoring confidence in debt and capital markets is of utmost importance to that end they say the official serious fraud investigation office will open a case on this. and turning to china initial

public offerings are i p o o's have increased by sixty five percent year over year again in value of roughly fifty billion dollars china's i.p.o.'s accounted for a third of all global public offerings in that same period and while the monetary value represents the third largest some on record the actual number of companies going public has decreased by seventy percent to one hundred forty five so far this year looking more closely technology related startups are a big contributor to the heat and activity on china's contemporary i.p.o. scene industry observer renaissance capital noted ten tech startups by chinese companies in the third quarter of two thousand and eighteen and their most recent report and comparison for similar i.p.o.'s involving u.s. based firms occurred during that same period where it's also noted highlighted notable new names and recently entering the tech sector include by all means technology a maker of so-called smart appliances and l.a.x.

a company that applies artificial intelligence to one with learning i i. and now i'm very pleased to be joined by stan club who is this c.e.o. in the founder of errors scott high tech drones the doing some cool thing to stand we're so pleased to have you with us welcome oh great to be here and give us the i don't know fifteen twenty thousand foot overview of what you're doing it airs yet so we're block chain based drone services and media company we have a network of about fifty independent contractor drone pilots that are certified by the f.a.a. . we do jobs basically in the construction industry real estate and video production of the stand how is it being used in construction no flying around construction projects so what's it being used for we do the we do the. called music flights

where we capture hundreds of photos of a particular job site and we do it on either a daily monthly or weekly basis based on the client needs and they get real time information and they can use it for future planning and showing you know to their customers and. and tell me about what you're doing on on real estate that sounded pretty exciting when we were talking earlier yeah real estate it's basically you know there's real estate agents buying drones and legally in the united states you have to be a certified remote pilot so we're going to real estate companies and saying you have a network of pilots that can get your aerials and we're also building the software to verify the compliance of a particular photo or a video so we can look at you know the method data in a particular photo and say this is in proper airspace and attach waivers to an individual photo and basically make it compliant and certify that it isn't just for height restrictions except for what sort of compliance are we talking about there's

a litany of about seven or eight things that the f.a.a. you can't fly over people you can't fly over cars four hundred feet limits and for each one of these restrictions there are basically waivers and so our unique proprietary software is what attaches waivers to individual media files and then we store all about when a transaction occurs on a block chain so you've got this network of drone pilots or around the country explain that we have about fifty mostly in the metropolitan areas in new york city los angeles san francisco chicago and baltimore and then we have pilots that will fly out anywhere you need and we're growing that network all right if if you're making money if you're doing this commercially as a contractor or something as a drone pilot what sort of license do you need yeah you need what's called a part one o seven certificate and. and it's not

a very difficult test but it's something that you need to be a commercial pilot and is there a lot of competition among these drone pilots there's about one hundred thousand certified remote pilots as of now that's a huge influx of pilots and there's a lot of single operators and aggregators out there and a lot of focus on certain verticals like agriculture or inspection work and so is a lot about locations for drone technology said how about competition in this particular business space. using block chain and drone services or competition in the business sector not that i have heard of and stand we've got lots of start ups here at the forbes under thirty summit some have no money some of them have enough money some are never going to be profitable some are making it where are you in the process of raising money and then your endeavor well we're bootstrapping so right

now we've been in existence for about a year working on the compliance software for about six months. and we're fund raising actively. we need to increase our sales because we see the opportunities out there and that's where we're at i've been asking this question here you seem like a visionary guy on this what is your vision for the future and in this space in the drone area i.e. i look at the industry right now like we're all still riding around in horses and carriages and you know occasionally you see a car down the street and there's no stop lights or anything like that and that's where we're at in the drone space so helicopters and airplanes are normal things for us but when you see a drone everybody freezes you know some people who have security concerns and regardless of the fact the drones are terrible spying devices it's still vaterland in the industry but as we adopt it more. publicly there so many use cases for them

but eventually in the next twenty years they'll become much more common i hope stan thank you so much that stan coerr is the c.e.o. and the founder of arizona's appreciated stand. good stuff from boston no time for a quick break but stick around because when we return we take a look at how washington is being used in a number of spaces including real estate this is a good one won't want to miss it and as we go to break here are the numbers of the closing bell. seem wrong. to me. to

shape out these days. and in. the trail. when something find themselves worlds apart we choose to look for common ground. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics or business i'm show business i'll see that. i. welcome back if you've been thinking the pace of mergers and acquisitions has been quickening

you're right but is that boom already about to bust the latest figures from venerable business press outlets thomson reuters show a record setting emanate activity level of three point three trillion dollars in total value so far in twenty eighteen that is a thirty nine percent increase from twenty seventeen and also the highest level since before the global financial crash of two thousand and eight as noted by the financial times of london another notable undersides of the m.n.a. mania is a drop off in the third quarter orders also notes a thirty five percent fall in any activity in q three of this year to seven hundred eighty three million dollars placing the drop off in the context of increasing global trade tensions particularly between the u.s. and china that seem to have scuttled a number of potential mergers by leading companies including united technologies and qualcomm. and turning to south asia a new report from the accounting firm price waters of pricewaterhouse coopers now

branded as p w c finds that india is having a largely unheralded boom in mergers and acquisitions the report a joint project of p w c and the confederation of indian industry cites official figures and reputed private analysts to conclude that the value of indian women a activity grew in the first quarter of fiscal year. twenty nine nineteen at a rate ten times that of the same quarter in f y twenty zero twenty eighteen the authors also find that many activity has accounted for a full twenty nine percent of foreign direct investment in india over the past ten years two of the biggest notable indian mergers will be familiar to boom bust viewers last month warren buffett invested estimated five point three hundred fifty million dollars to take a reported three to four percent stake in india's online payment platform paid c m and in may u.s. retail giant wal-mart spent sixteen billion dollars to take a seventy seven percent stake in indian online retailer flipkart.

and we're back in boston here busting it out from the forbes under thirty summit and we're in a geodesic dome today it's raining outside but boy are there exciting things going on and one of the exciting things we have is we are joined by our friend christiane i have counterpart actually not only a finance but a crypto expert first of all i've been enjoying this it's been a great conference of fire yesterday we heard from a ton of great thought leaders as well as leaders from other industries as well we heard from will warren and will on the talking about decentralize exchanges and how all the challenges that they're trying to overcome within the entire kept us base saying that it's going to take a lot for there to be mass consensus and for the population to actually use cryptocurrency and so that's hoarding as an asset it's really more of an asset now the something you can use you know sort of that's honored in daily commerce but

ultimately you want to be able to use it like in a starbucks right salute right now i think the biggest challenge is that they mentioned was the lack of standardization and the fact that there is no collaboration between the actual block start ups there right now there have to start at the start of each with their own ideas of how to build a block chain and creating their own blog but ultimately you're just creating another problem for us to standardize again so there's too many options right now and part of that you know i guess the criticism of what you're saying christine is that there's no conformity but conformity is about the last thing that a lot of these crypto folks want to do they want to be different they want to be disruptive so it takes a little bit for them to get into that mindset that in order to be long term they actually have to do some things that are more. than they might and let me ask you this you and i were speaking earlier not just about what's going on here own krypto in boston but about the other coast of san francisco there's an event going on there this has to do a little bit with what we talked about not too long. go on the program give us more

on the yes so my partner is over at the repl swell conference right now in san francisco where they just launched rabbit on october first for commercial use now so now it's widely available for all the banks and all the institutions to use they've been testing it with three test banks since may and they've been reporting savings up to forty to seventy percent over the stuff network and transactions that have took two to three days now take two minutes so this is why when we spoke about not wanting to go about how ripple it really showed up in value even overtaking easier is that still short of the mix do you think that that's going to continue that we we might see ripple actually sure past sort of longer term. i think right now it's more practical to use ripple ripples utility function has finally kicked in after a very long way either as a utility function is more so in a smart contract but right now because of the fact it's too slow it takes about

twenty to thirty minutes sometimes for their contract to actually sell right now the practicality of this mass you just said is actually kind of low so that's why in every day usage ripple is kind of better. and finally kristie what are you looking forward to coming up here in the last day or so the forbes under thirty summit in boston today is a day of excursions we have a lot of field trips outside of with a lot of the leaders here in boston so we have a trip to the t.d. garden to see how they're managing sports team and the latest technology training and sports team and management and how technology plays into the recovery time athletes and then we have another field trip into freight farms to see how urban farming is managing with the sustainable farming and restaurants and cookery and then we see a lot of trips out into dispensaries as well as another hackathon as well hosted by i can show you we met with a guy yesterday is actually a family fan of boom bust who's involved in the aca phone talk with him although he

said it was. in a take from you know ten until after the show actually finishes but hopefully we'll have a chance to speak with them a christie i have counterpart next thank you so much christie and now we have to watch more coming to you i checked this one out. and we're now joined by a couple oil executives from rick block which is a real estate based block chain system to make things real estate more efficient effective both for real estate owners in for finance sears and we're joined by these two executives i had the pleasure of meeting a man well good solid as durham's the c.m.o. and by gonzalez sanchez slick who was the head of investor relations gentlemen welcome to all the boom busters out there about brick walk and what you're doing. yes so basically what we're doing right now that sets us apart is that we're providing the legal and the tech infrastructure for our real estate clients that's a really sets us apart from our competitors so we've done basically everything

in-house from the code to the legal infrastructure marketing we build everything also it really sets us apart is that we are going to have the first property on the block chain within the beginning of october so this is a commercial unit out of liverpool it is valued of six point nine million pounds and we're going to have three point three million pounds of it on the block chain to be tokenized so not only that are we doing assets but also what sets us apart is we have the flexibility to also do funds as well and we are also in this questions to do a large fund that is just a focus for german real estate so overall when i look at all of the competitors we are very far along to where we are and to us it's pretty exciting yeah no the thing that it's more to mention is that we have one point four billion worth of assets that are ready in the pipeline and yeah we are going to say we are doing that with european new york framework and yet

a federal supplier for. all of their competitors in the same time one benefit that he's always important to mention is that we're bringing the clean easy to a very liquid market that real say usually when you invest in real said you need to hold the investment for five ten years or twenty years depending on the investment opportunity with the stock in that you're going to receive off the investing you're going to be able to trade right away from day one of course we're working with with a lot of regulators with banks are doing k y c n n e m l another to verify that your funds are coming from legal sources and yeah so people are going to be able to diversify their portfolio invest in fractional ownership in different assets whether it's real say where response. could be whatever financial instrument that you can think of it can be tokenized and we believe that it's going to change that way that way that we invest the same way that they e-mail data with that with letters you know you replace letters replace all these mailings system we believe

that you would be able to transfer ownership in a very same way you know the youth away and yeah ac should be should be in the future like that i believe are very exciting and how do people actually invest using brick floor so they should really work calling these tokens p.o.e.'s stands for proof of acid tokens now each token will be their own representing their own separate asset or fund right so really what's going to look like each so can will have their own name right in recognition really what the investors are receiving are going to be given that are becoming representing from the tokens then that's also what sets us apart we're not dealing with title exchange or nothing like that that remains with the party that says the asset or the fun really this is all just invent a new vehicle an investment opportunity and is are these denominated of the tokens denominated in euro or are how does that work know so basically that's a cool thing is that the token. the price of the token will depend on the market so

people are selling and people are buying the are the ones the finding the tokens so you can think of i stock exchange for very equal assets so yeah that's pretty much the equivalent to get a little specific on how does it work exactly if they receive a token and their real security will be hold by a bank by a custodian so that token he's actually representation also is kind of like a database and know that you understand who holds what and who's the owner of what and i tell you there are some k.-y. c.m.l. done before hand so i don't times you would know who is the owner of the share all of all of the silk and be secured people can and where are these traded your platform some other crypto exchange where these tokens traded. we're creating our own exchange is going to be at the centralized exchange that we allow you to trade peer to peer but also we're in touch with the foreign exchanges sell securities and we're trying to find out with them so that people we have more liquidity in these

markets and for right now are you going to stick in the euro zone primarily or what's your plan at the moment at the moment we're working only with the with european. with europe with the european market buying the future we're going to expand to other markets which are right now our main our biggest pipeline is germany u.k. we are building a pipeline in french also in scandinavia and central eastern countries as well but we also have a large pipeline in brazil and we are later on at the end of november going to be in hong kong to build a pipeline and in that market as well that's also a very interesting market to us guys we've spoken with people all the way from start ups who have no money they're operating on a wing and a prayer to people that are funded and make money where are you in the development cycle you've talked about moving forward and launching something's coming up soon but where are you exactly in that cycle. currently. we were.

around fifteen million fourteen million euros. a few months ago five months ago that was or less a seed round because we haven't even launched a product by we're going to be raising money again in q two why is because we want to conquer the whole the whole world. so we're trying we're trying to get different partnerships and venture capital to work with us and also to give us their knowledge and you know be able to get as much information from them as possible i love asking this question particularly here at the forbes under thirty summit what's your vision for this going forward yes i think that the first year our biggest focus right now is to have a good amount of examples of assets that we've done in the u.k. germany and then friends and then scandinavia those other regions right the first year is really going to be about really growing in the e.u. market little by little because us being in the e.u.

gives us a huge advantage that we're so close to our clients right up in terms of clients as well so i definitely see that within let's say five years i definitely see the e.u. market being really healthy and then really expanding into latin america and asia as well and then possibly as well you know keeping a close eye on the u.s. market because that is an important market to us i mean it's a market that is very hungry for real estate investment so we are always close eyes to the u.s. market you want to get to the united states but of course the u.s. regulations are a little bit higher than other places particularly in the e.u. right yeah yeah yeah there are hurdles i mean something that we can work though which is also something of interest is that we can tokenize u.s. based assets whether it is a u.s. based asset or a used base fund it's just that giving the regulations we cannot accept u.s. investors you know that is something that we can do one of the reasons we're also here is to also kind of build our network in that sense as well and the first week of november we are going to be in new york city as well speaking. real estate

conference and also continuously building our pipeline there. there now was one thing that he supports information is our vision we want to create a platform that allows you to invest all over the world so it will be we call a democrat they say show off investing so i allow anyone whether the same venezuela where you see in zimbabwe to invest in properties that give them passive income that you know is stable and they can hedge their currency with this new kind of. man well good result c m o n gonzalo sanchez the head of investor relations at bric bloc how exciting we sure appreciate you being with us thanks for sharing your story and good luck to you. that's it for this time we can always catch boom bust on direct t.v. channel three twenty one or dish network channel two eight we're streaming twenty four seven on pluto t.v. channel one thirty two or as always catch a you tube dot com boom bust r.t.

so long for now from boston. this is. the church secret indeed priests accused of sexually abusing children can get away with it literally like to call this the geographic solution so what the bishop needs to do then he finds out that the priest says is a perpetrator is simply moves him to a different spot were the previous standard. highest ranks of the catholic church conceal the accused priests from the police and justice to listen to that and of themselves as the i intend to land it used to seattle.

itself. cooked additional supposed to not of what was an ounce of to linger some of these it's just a good usual condition no. simple yes surrender methods notional procedure. look at with a showing of the study some is lost when the chips. you think it should be. you're pushing thirty. both of shipping. up and most of the book is the work of the books in your book still missing notes i don't know what the full. month was the latest news in the for us. stuff no worries and i believe that the show yet of putting this was going to do just a. little fish through some really stupid. it does. what

politicians do. they put themselves on the line they get accepted or rejected. so when you want to be president. or some want to. have to write to the press it's like before three in the morning can't be good for i'm interested always in the waters of the how. question all. the way to the united states is dangerous for most of the illegal immigrants. crossing your fingers to just as the word of sympathy i want to be gotten lost and enter another one the last post on this about us but i have many of them look for refuge in the so called sentries sides of the draft used to share information about

undocumented. migrants with federal authorities. in the country.

this is all to the headlining this hour the u.s. national security adviser says washington will withdraw from a convention agreement that would allow it to face prosecution in the international court of justice. the british prime minister attempts to. have no confidence from her own party members just moments before giving a speech. to the king of saudi arabia that he wouldn't last two weeks with the u.s. military and the u.s. president continues to accuse opec of influencing oil prices. protecting you might not be there for two weeks without us you have to pay for.