and both experts said not much if anything would be done related to u.s. saudi relations but now some more some are more questioning more and here's what the president had to say about it looking at her strongly we'll be having a report soon we're working with turkey we're working with saudi arabia what happened is a terrible thing assuming that happened i mean maybe we'll be pleasantly surprised but somehow i tend to doubt it and we take it very seriously. so what is the economic relationship between the united states and saudi arabia for more we are pleased to be joined by iraqi corner currencies and futures expert as simpler trading and michael maloof former pentagon official writes we know that the saudis main economic engine is petroleum based we talk about it with you and are thankful for that all the time but how big is it it's big and it's getting bigger and what's ironic is despite the vision twenty thirty plan they have getting away from an oil dependent saudi arabia actually means in the near term they're more dependent on it

than ever and they're probably the most hawkish member of opec as a result they're really reliant about thirty to forty percent of their g.d.p. relies on oil most of their appointment for the government relies on oil so in the near term they're going to be increasingly reliant not less very interesting and to which countries are good do they export and which are the major countries that they export that while too. sure right now we're really looking at china japan and i think there's probably an overexaggeration just how much the u.s. is actually reliant on on saudi arabia oil really we don't get most for oil from saudi arabia but china is a big customer and michael let's talk about it from a defense perspective u.s. defense companies weapons sales to the kingdom how much does that entail how big a deal is it the president seems to think that it's a lot what's the what are the facts well it is one of the biggest deals going we've

been selling weapons to saudi arabia for years they've arranged everything from aircraft missiles ground air telecommunications tanks but when when when president trump went to riyadh as his first foreign visit when he was right after he became president he signed a one hundred ten billion dollar deal and that's supposed to mushroom into more than three hundred billion dollars over a ten year period so the consequences of arms sales and purchases by the saudis is significant and i would add that this was one way that. bin salman mohammad been some of the crown prince was in effect able to buy the united states and probably figured that he could get away with almost anything is long as he had troubles back in and probably didn't think that there would be any consequence to to that relationship in the field legibly ordered the killing of jamal

khashoggi and michael do the saudis buy weapons from other defense contractors in other nations oh yeah sure the brits every time they want to make a deal and buy a come and buy a country allegiance and influence they'll go into massive deals the the saudis have all kinds of weapons stored up they don't even use and i might add they don't even know how to use them so it's so it's. and this is this is their way of buying into influence in the world and i would say that that's why you're seeing right now for the u.s. perspective why trump may be going very carefully because his entire middle east policy hinges on that u.s. saudi relationship along with the alliance with israel i mean this this whole thing could just blow it wide open especially if members of congress take it upon themselves then to start restricting these arms sales in response i know there is that letter from twenty two senators the other day saying investigate this and tell

me you say that you know the u.s. import of saudi oil isn't that big but what if other nations started saying no we're not going to take this oil i mean would they do that and if so would it have an impact much of it impact what might it do something with oil prices. well i think the most important date is going to be a member for because we just don't know but there's a wrong sanctions are going to mean to global supply and the big problem is really in asia india and china will both need to make up for that oil from somewhere the increased price at the current time is really giving india a lot of trouble so i think india will continue to buy from the saudis they've increased their purchase from them over there over the past month or so and i don't see that stopping anytime soon especially if india can't do business with iran as of november for and while i think we still see those two countries and thank you raji sorry about that and michael just real briefly could the saudis just easily

replace our current weapons systems that we're selling to them not very easily first of all they're not trained on any other major weapon systems you know they buy in from the french they buy in from the brits. with with if the united states went in the direction of limiting arms sales i think you're going to see other countries in the west following suit as well because and this is going to have a major him. tacked on. saudi arabia's twenty twenty thirty reform program so i think of that he's got a been someone's got to walk a very delicate line could be by russian or chinese equipment sure but and i think the russians would probably welcome that opportunity don't don't don't hold your breath for us to be the leaders in that regard rocky and michael thank you much guys appreciate i have a great weekend thank you. and we now move to our global market roundup for the week world markets plunge led by that wall street selloff starting on wednesday and

there was a limited rebound at the end of the week the shanghai composite index down for the week although it inch forward today by a fraction based in part upon it seems at least positive export data and japan's nikkei fell four point six percent this week the biggest weekly drop since march although the volatility from wednesday in thirty thursday seems to have subsided and the nikkei two twenty five close slightly up based in part upon that same chinese data which increased confidence among japanese companies which are exposed to china and in hong kong at the hang seng index that showed the best recovery of the asian markets up over two percent today but still down on the week and down for the last month in fact and we head south will pass the philippines i want to make a correction from yesterday i said that the nation had reached a nine year high inflation of eight point seven percent it's actually six point seven which is still the nine year high but the numbers matter i don't like to say

and doubt in australia at the ex it's also down for the week but just up slightly a few points on the day as we move to the sensex index in india it's also slightly up for the day but down for the week yesterday the international monetary fund chief christine lagarde at the summit we told you about with the world bank earlier in the week the other day she said that india may have the brightest economic outlook of any nation on earth and moving to south africa they all share index they're also down for the week but slightly for the day and the prospects for south africa's trouble economy by the way may soon see a needed lift with the elevation of the nation's former respected central banker tito emboli me to the post the finance minister the european markets the french cac that we talk about a lot the. german dax and the foot sea do you k. all down for the day and down for the week moving over to the coal cat in colombia

and that we also go to the brazil the best coal cap index was down for the weekend the day although the country see if some good news this week with a new economic growth projection of two point eight percent this year and three point six percent next year and of brazil brazil with both best put down for the week and even though they too received a forecast that brazilian inflation will soon suicide still down and in new york we look at our friends here at nasdaq and why you see what we've been talking about a lot lately driven by the techs to do were down for these two days big time although they made a slight recovery today at nasdaq in particular those tech companies are listed and facebook which is listed on nasdaq continues their troubles yesterday they said that they were taking down hundreds of accounts and pages many of which say they spread they say spread political misinformation however many sites were legitimate

including the site of guests who are to correspondent rachel blevins who had seventy thousand followers needless to say the company is now getting some pushback and today facebook said that they had their security breach that they announced late last month that compromised the name and contact details of nearly thirty million facebook users and information like birth dates and employers for fourteen million users they have no financial information was compromised that's what they say at least bottom line facebook stock fell about a percent today on the news although stock is down a whopping thirty percent since its high in july so i say both nasdaq and s. and s. and y. se down pretty big time for the week but slightly up today and we finished just north of the border in toronto why people put money in the toronto stock exchange the s. and p t s x index we're fairly a bit of a chill all. all week as it dropped and on thursday to a new six month low let your global market round up all the markets around the

planet down down down while and here are your local numbers for the new york for the day we'll be right back after this. what politicians do you can. put themselves on the line to get accepted or rejected . so when you want to be president and she. wanted. to go on to the press that's what the full story of the morning can't be good. i'm interested always in the waters in the house. first of all.

this is crude oil. so they need to actually physically pump it out of there and he would have well well well well well. there's a lot of money with the oil and with that comes. a lot of a lot of people from all over the country. you don't make a hundred thousand dollars a year. as. there's an issue. here maybe. they were told sixteen hours a day it's hard work well work is not easy. and so they want to relieve their stress and how do they relieve their stress these men. that outlay he's the man that comfort these men that. people have been murdered up here people are going to

raise their massive drug issues up here you have a boom you have everything else that comes along with money. under whatever. your total. money we didn't want to. own. your home go to post pieces that move for your. welcome back last time we told you about the c.v.s. at in a murder which was approved by the u.s.

department of justice well another merger that took place earlier this year has reaped really big rewards this one is walgreens drug stores which took over for four point four billion dollars the write a drugstore change the third quarter numbers for walgreens showed a whopping get this seventeen percent increase in pharmacy sales year over year overall sales rose by eleven percent the market share of walgreens has also increased eight percent and a half from twenty point two percent last year to twenty one point seven percent this year walgreens now has eighteen thousand five hundred stores across eleven different countries. it seems not even ex white house officials can resist the allure of washington gary cohn president trump's former economic advisor announce that he will be joining spring labs a block chain start up the. idea is that banks and corporations would use the block gene to make it easier and safer to transfer your identity and credit information

it's an idea that has some merit in my view as in the case of equifax which came under cyber attacks resulting in over one hundred forty three million customers having their data stolen last year and of course now equifax spams people with e-mails trying to sell them their services saying they can bribe you with credit protection for the price of course equifax has a major breach and geez louise these folks mr cohen joins a growing group of high profile people joining blocking based companies such as the former commodities head of j.p. morgan blith masters. you may have heard that starting november first amazon will raise the minimum wage it pays for workers here in the united states to fifteen dollars per hour the move covers some two hundred fifty thousand current employees an additional one hundred thousand seasonal workers that certainly sounds like news for getting those in the increase but there are some who are saying that the raise isn't all it appears to be and that the move may actually her workers at amazon and

other companies in the long run and what about amazon workers and their working conditions in other parts of the world here with the answers conservative commentators steve malzberg and hilary for which president and founder of straw mark development consultants thank you all for being here appreciate it. hey steve let's start with what amazon did here they raise the hourly wages in the u.s. but what other actions did they take to address the workers well first of all it's a big public relations boon for amazon obviously they've been the target of so much controversy when you please bernie sanders senator from vermont and larry kudlow economic advisor in the trump administration they both praise your move you're doing something right i guess they also assure themselves that they're going to be able to lift workers. from other companies it certainly stopped their seasonal needs but a lot of workers at amazon suddenly noticed ok this minimum wage is going up to

fifteen from somewhere around to between ten and fourteen but you're doing away with our bonus program you're doing away with our stock incentive program for senior workers and they're not happy about that also warehouse workers who are now making fifteen dollars an hour already they're just getting a slight little bump not the a bump that the you know the other workers are getting where it's most fifty percent in some instances so not everybody is happy by any means amazon on the other hand says no no no you don't need incentives a bonus is just what you know what you're getting and you're more secure that way but not everybody buys that lever questioning laura on this because i thought you know hey that's a good move but i was speaking with the former amazon worker over the weekend igs point exactly the sorts of things you're talking about hilary when we look about amazon workers around the world you know they don't fall under this list wage increase here me what do you think they make of about it and what about the working

conditions because we've seen some allegations of big problems with amazon workers in the u.k. and even in other places yes well you know referring to the controversies in the u.k. that was surrounding the amount of production they had to deliver each and then also the bathroom break issues of course it should be reported particularly in the observer in the u.k. i think going back to what steve was just saying he is correct and all of his points but there's also another issue as well and that is that there is a big movement now that these global companies may be taxed to where their workers have to be resorting to food stamps i think that's another thing to layer on top but in terms of the international work yes i mean unfortunately when jeff bezos was in germany there were protests when he was going to be receiving a humanitarian award you know he employs sixty thousand people in germany but there were protesters out. side due to working conditions because they don't have the same kind of collective bargaining that they want in germany and the controversies

you mention in the u.k. they've also had some issues in spain and poland and other european countries i think the issue for a lot of global workers is it's very difficult to have the same policies the same procedures in place because there are different priorities in different nations when i work for global companies as you know i have a number of them there were different standards in different countries for example in the u.k. executives predominantly receive because we don't in the in the u.s. on that maybe you know five to six weeks vacation in germany we don't have that in the u.s. and there we receive more in salaries so when you're looking at and i'm a film waka there are different different priorities in different nations and i think there are grumblings in each of the nations from a distance different aspect of the problems however i think we should look at this positively look how many jobs amazon has also created in countries and in many cases in locations where the haven't been any jobs previously so instead of being grateful a lot of those in troy is that now have the jobs on as grateful absolutely and steve let me ask you you mean do you think this will have some residual impact upon

other large employers in the states moving to fifteen dollars an hour. yeah i think certainly the competitors of amazon wal-mart that's it i think the levin target is a twelve although they're moving up to fifteen in a couple of years and not competitors as well might be forced you know to keep the low level workers who might jump ship they're more likely to jump ship than that any category of worker but your base also is also doing here that might affect other companies and workers is he's lobbying now for a national increase in the minimum wage he did it on his own and some say that's great if you could afford to do a great but to force other companies like fast food restaurants i work to mcdonald's on the on my sixteenth birthday i started there a fast food company like mcdonald's or others if they're forced to double the minimum wage or that they paid their workers they get a cut work as they may automate they also have a tax incentive now under the trump plan to automate they get full deductions when they do that and you're going to have people no longer they have to take your order

you'll have a touch screen cooking will go to automation to a great extent so a lot of people think that increasing the minimum wage is going to result in people closing down shop if they can't afford it as a small business or cutting jobs and the employees will lose in the long run you know and hillary what do you make of the circumstances internationally in this regard well i think internationally imo because of the looks at solutions let's look at the solutions not necessarily the problem the solution i think internationally bot is the same as it is here in the u.s. there are global best companies to work out and one of things i advocate always tell my clients and to global companies is even if you can get to the top of the list definitely work out becoming a best place to work with some of those companies for example microsoft google they offer their employees extra things that were required by the law and i think that's something that all global companies should look at a need to be on that list of best places to work because they give the employees so many of the things that not only are required but that desire whether it's parental

leave whether it's food breaks and providing food. i think historically let's also look out the robber barrons this is not a new issue bought for any company around the world the robber barons at the turn of the century had the same issues take an example somebody like milton hershey formed a company town in england cadbury he formed a company town that was outside of in northern england out outside of one of his manufacturing centers so i think the company tallies with something that was started a century ago more than corporations should look at how to get on that list and want to do for your employees to keep them happy so that you don't have this sort of negative issue that reverberates around the world because with current technology and they bring communication everybody's going to hear about it these are certainly issues guys that impact consumers impact all of us as i always say we do here and we appreciate being enlightened and informed by both of you howard for which i'm steve malzberg thank you so much better. and now we go to los angeles

where our tea correspondent natasha sweet example is dangerous for most of the illegal immigrants. that's the word of sympathy i want to become more and i want the last post on this about but there are many of them look for refuge in the so-called sentry sites the drug use to share information about undocumented migrants with federal authorities. are saying that they aren't going. to see them or don't have it up next time i get i mean a lot less i think what that. what are their options to stay in the country with donald trump in the going to. look for political rivals. also if you put it to be that the. struggles of many couples. to which the push to put it was what have you got those of you all of the.

time of the age on side to time john paul enough. well i. am only. in film pen there is a trade in young girls sold into an underground six industry sometimes by the people they trust the most. and. you cannot operate as united nations this is not just one run but un d.p. world health organization and in fact other international organizations like the international committee of the red cross you cannot work in a place like gaza with pragmatic cooperation with the locals or a tease which are hamas in this case here on or has been for most of the last few

years.