the unreported allegations were revealed in new court documents related to a two thousand and sixteen case and were first reported by the wall street journal facebook acknowledged over two years ago that statistics on average viewing time for video ads were inaccurate but said the flaw figures were a simple mistake oh. now armed with new evidence from tens of thousands of pages of internal facebook communications obtained during the pretrial discovery process the advertisers say facebook knowingly deceived them the updated suit now alleges quote facebook engineers knew exactly how the company was calculating its average but did nothing about it for over a year facebook ignored reports from advertisers of average results caused by facebook's method of calculation. and u.s. and e.u. diplomats have reached an impasse on the ongoing trade talks the two sides reported earlier out of sync on how fast the talks should proceed with the u.s. side of the table pushing the europeans to move more quickly under

a heavily implied and looming threat the president trump may impose tariffs on imported european cars while u.s. sources say the terror threat has been set aside at least for now they have cues their european counterparts of intransigents the europeans returned fire with similar claims the remaining distance between the two sides was indicated by u.s. secretary of commerce wilbur ross who said of the meeting with e.u. trade commissioner cecilia maelstrom quote it's as though she was at a different meeting from the one we had tended some say the u.s. would like to resolve outstanding trade issues with the e.u. to help clear the decks for a more coordinated e.u. u.s. confrontation over trade with china. has filed a lawsuit in a california court against amazon for illegally poaching designated high value sellers from the online auction site e bay says the world's largest e-commerce retailer owned by the richest person ever to live. jeff bezos quote perpetrated

a scheme to infiltrate and exploit the base internal members' e-mail system a proprietary technology known as m two m. e bay says the effort by amazon was part of quote a larger pattern of aggressive unscrupulous conduct and the effort was coordinated from amazon seattle headquarters even his legal team says amazon's alleged practice of having amazon employees target e-bay sellers was part of a larger pattern of malfeasance. and there is a new first report in china's continuing rise as a global economic power h.s.b.c. europe's largest bank says their stock will become the first from a foreign country to a company rather to be directly bought on a stock market in china the first of its kind listing is just one of several plans for building ongoing links and joint operations between the london and shanghai stock exchanges h.s.b.c. is listing is expected to happen by the end of the year and as many as fifty

additional companies could be slated for dual listings in the two financial centers in the coming years. after delaying for more than a year betsy the boss donald trump secretary of education has been ordered to implement an obamacare rule that will help protect students if they've been defrauded they've been defrauded guys by a college why is most of us delayed it to give us more of background and some insight it's a pleasure to welcome back the counsel for civil justice and consumer rights for public says the remington a great remington thank you for being here good to be here so you did so well last time we love having you back to explain what this rule is and why the secretary has delayed it and not wanted to go forward well it's a little complicated but it comes down to both a procedural and a substantive thing so in two thousand and sixteen the obama administration said if you've been cheated defrauded from a college you won't have to pay back those student loan. seems pretty simple right

in twenty seventeen when the ministration came into power the for profit colleges say hey wait a minute we got to do something about this so betty devolves stopped implementation of the rule and public citizen suit them well the judge ruled last month with two things the first was that the. department occasion three times illegally delayed the rule so that was a whim and then just last week said ok you're going to have to. ensure that the rule can move forward now there are other hurdles that are going to come in the next few months and weeks but until the case is actually finally resolved students can right now go to the department cation and and apply for for this relief you know last time you were on here remington we talked about that horrendous big burden student debt that's out there you know and we have a chart on it's just massive but i wonder you know as

a former regulator myself sometimes and it's the people who want to hear that it does take a long time to do this so for you to tell me the judge actually you know be criticized the department for delaying that was any of this sort of legitimate or was it really sort of malfeasance and trying to stop things and for our viewers particular international viewers who don't know ms de vos has been a real champion of privatization of schools does any of that play into this decision you think i mean this no what i will tell you right now is that the rule the obama rule was really is really strong it does three main things it says that if a college receives federal funding they cannot force a student into arbitration which is a privatized system of justice they cannot force students to go out alone but actually can band together as a class and if a school closes you automatically can get your loans removed.

and so that's really important why would anyone want to stop that from happening we have about why do you think well because betty deval loves privatizing everything she loves for profit colleges they make a lot of money off of students forty four million people have student loans right now one point five trillion dollars and eight million students or a million people rather are in default and so one thing that they wanted to do they wanted to rewrite the rule and one proposal that they had was that you had to actually go into default before you could actually apply for it for relief which is insane because if you go into your credit record who wants to do that not many people are remington a great bore you are so really good at explaining this for everybody thank you thank you for the work that you do remington thank you pleasure.

and the trump administration is seeking to relax a major financial reform rule which was implemented in the wake of the two thousand and eight financial crisis it's called the bowker rule and it prohibits big banks from speculating for their own books called proprietary trading those of us who supported volcker thought the large bank should focus on investors and not on their own profits by excessively speculating president trump as sought to relax it in the federal reserve has just concluded taking public comments like last night at midnight what do folks think of the fed's proposal here to discuss the public citizen's financial policy advocate our friend bartlett naylor welcome back karl appreciate you being here thank you so. is this a a proposal that would essentially roll back and place the economy in jeopardy again if what they have proposed becomes the actual final rule yes definitely they are rolling it back in various ways as as you correctly described it the volcker rule tries to risk. prohibit essentially banks gambling they should be making loans they

shouldn't be taking deposit or money and gambling with it. the current rule the one that still exists is problematic the single most problematic thing is that we don't really know what the results are trading still is robust at wall street banks they're still making a lot of money their proposal unfortunately has so many ways for banks to gamble without the the regulators including your old regulator able to stop them it says for example that as long as you limit your trading to twenty five million dollars per trading desk and a big bank has one hundred trading desks then we presume that you're fine like everett dirksen twenty five million per pre-training some point it's real money right that's so it's sort of interesting because we go back to the u.s. presidential campaign and president trump said we've got to slash all these congress some you know pesky regulations and and that'll free up business to make all this money and everything and he's now says that that's partly been done that

the economic prowess of the u.s. in addition to these huge one point five trillion dollars tax cuts are just unleashed the economic engine of the u.s. is unleashed but the bottom line is that the banks were never really clamoring for this and when he's saying reduce complexity heck this is a six hundred page proposal only in washington could you produce six hundred pages and say this makes things more simpler to the banks really want this it's not clear the bank's comments to the extent that i've read them since midnight last night and now are mixed the banks are concerned with so-called fair value accounting this is if you have a security and you are valuing it by what the market says it's worth today they consider that a trade that might be a prop trade a proprietary trade while the wall street banks the letters that i've read so far don't like that part generally however they're fairly supportive of it as they should be because it pretty much allows a lot of prop trading with. the plot is this gambling that you're speaking of it's

a presumption that they're in compliance even when they're clearly spelled want to get into that just a little bit you know the presumptive compliance i mean i've never heard of this term before presumptive compliance and as a former regulator i never would have just presumed and you know a lot of these folks president trump included their hero is ronald reagan republican president who always said in this case about the soviet union trust but verify i mean aren't we here saying essentially trust but don't verify that's right we're just saying trust. the phrase that's in the statute is the rebuttable presumption there was a rebuttable presumption that they were prop trading under certain conditions such as if they bought and sold a security with sixty days now there's a rebuttable presumption that they are complying and the regulators have to go in and prove it but online as you think if they passed the rule as they proposed it they write the final rule it again places the u.s. economy and maybe there's reciprocal action there in more jeopardy than we were at

this time the last crash happened because of rampant regulus but reckless speculation secure mortgage securitization those were vehicles for speculation that crashed the economy we're now closer to that and several times you know we've seen in the past where the big banks look they do a lot of good for the economy out by like big banks but sometimes with no regulations in the past you were to were speaking about this earlier the banks went ahead they got their own customers into a fund and then the banks because they could do this unbridled speculation that against their own customers that's right goldman sachs is that is the case in point in the abacus and other deals it was creating something it intended to fail it was betting against its own customers. crazy stuff but we're glad you're on the case bartlett naylor public citizen thank you sir. and time now for a quick break but hang here because when we return to holland cook and steve malzberg help us. take

a long look at the new media landscape and how massive money and advertising seeking new places to play plus speaking of media of c.n.n. fox and n.b.c. fame mega media star anchorman rick sanchez who had just joined the r.t. america team is here will be here he'll be right where bartlett's is sitting it's going to be great i can't look i can't wait to talk with him and here are the numbers at the closing break the s. and p. was down for the ninth of eleven days by more than three hundred points today all three exchanges on our big board are down for the day between one and two percent and here are those numbers we'll be back in a flash. i

know i still don't pal. around with that. type of time to all put enough. in film pin there is a trade in young girls sold into an underground six in the street sometimes by the people they trust but most. of the other stuff. what politicians do something. they put themselves on the line they get accepted or rejected. so when you want to be president. or somehow want to. have to go on to be press the saliva before three in the morning can't be good. i'm

interested always in the waters in that. first sip. pranking gave americans a lot of new job opportunities i needed to come up here to make some money i could make twenty five thousand dollars as a teacher or i could make fifty thousand dollars a year truck so i chose to drive truck people rush to a small town in north dakota was among the plum and rate of zero percent is like gold rush is very very similar to a gold rush but this beautiful story ended with pollution and devastation a lot of people have left here i don't know too many people here anymore it's just slowed down so much they lost their jobs that laid off the american dream is changing that's not what it used to be. and it's a tough reality to deal. and

welcome back the u.s. secretary of treasury stephen the new as we reported was still planning on going to that economic summit davos in the desert and saudi arabia has now said he will no longer go the secretary joins a long list of foreign government officials and business leaders who have chosen to stay away from the saudi kingdom in light of the disappearance of potential murder of journalist jamal khashoggi and sticking with the u.s. treasury it appears that apartment will not designate china as a currency manipulator as a presidential candidate donald trump repeated claims that china suppresses the value of its currency in order to lower prices of goods sold abroad and thereby increase exports. and pittsburgh based alcoa corp says the trump tariffs on

aluminum imports has pushed aluminum prices higher and that's also boosted their revenues in the third quarter of the year by fourteen percent that said alcoa's q three profits were still down due to losses that include costs from a change to the company's pension system the ten percent tariff were imposed in march of this year but since alcoa relies heavily on foreign smelters which extract aluminum from the alumina mainly in canada the terrorists will only do so much to assist the company paid to one of mine million dollars that's twenty nine million dollars in import duties during q three on imported aluminum from canada but says they still had a net positive of twenty seven million dollars as a result of the higher priced aluminum alcoa has more than forty five thousand employees and is the sixth largest alumina producer in the world with operations in australia iceland jim. guinea and gonna. and the ongoing troubles of don

citibank are making news again as the board of the multinational bank was publicly rebuffed by the danish financial supervisory authority who exercise their power to veto the board's choice of jacob arab andersen head of dancy's wealth management unit to become the new c.e.o. dancy's previous c.e.o. thomas borgen was forced to resign in the wake of money laundering scandals danske his potential liability ongoing probes of the scandal could reported reach up to eight billion dollars. and netflix has announced the third quarter numbers that sent the stock sure by as much as fifteen percent as the company easily topped earnings expectations along with the good news for the company netflix co-founder and c.e.o. reed hastings seems that issue a warning to the t.v. industry in general change or fail he said yet he did praise rupert murdoch's fox's rupert murdock's at the same time was this just hubris or does he have a valid point and what does the success of providers like netflix mean for the

future of advertising dollars here discusses the host of big picture here in r t america holland cook and conservative commentator steve models were who combined to have something like i don't know one hundred years of broadcasting business experience you guys. i know is crazy we love learning from you guys steve first of all give us some of the highlights from the q three for netflix i saw their stock was trading about three hundred fifty dollars today tell us tell us what happened yeah well you know after a disappointing second quarter they really rocked it the street expected about sixty eight cents a share on earnings and they were it came in at eighty nine that they are thirty six percent increase in revenue from streaming services and the big news is subscribers they went up about seven million subscribers in the third quarter about a million point one here in the united states where they expected to. people expected half of that and the expectations for

a global subscribers was about four point four million they came in at about six million and going forward they say in the fourth quarter they're going to add another nine million bringing the total to about one hundred forty five million subscribers look people are cutting the t.v. cord as we all know and when that happens ot t. like netflix and hulu and amazon they all benefit so the future the present and the future is looking good for netflix and thank you that's a great summary steve and holland what exactly did reed hastings the c.e.o. have to say about the television i mean i gave a little bit of the changer fail but give us a little more context well he suggests something that just seems purely logical is what the networks ought to do is news and sports because they have a tough time covering all the other bets and if you'll indulge me a dated reference my fellow baby boomers will recall nineteen seventy's a.b.c.'s sunday night movie and they'd show the pink panther movie that was

a year old and it was appointment television much of america wasn't even cable yet back to the future movies have been commodity now series television is all over the place and there's a number that steve didn't include in what he just gave you and the numbers fifty seven percent netflix is now the biggest t.v. network in the world and fifty seven percent so far is non usa so if you look at a.b.c. c.b.s. n.b.c. fox and the basic cable channels it's apples and oranges they're competing for advertisers domestically and netflix is collecting monthly subscription fees globally so it's a very tough competition for the legacy networks and holland i stick with you just real quickly i mean we've got you guys have worked in this you know media that is supported by advertisers and i just you know. this is just a sort of personal point of interest how do you deal with things like you're doing

this serious subject and you say we'll be back to no with our discussion of i don't know you know nuclear disarmament after a word from skittles or something i mean how do you deal with that final dated reference i promise that great saturday night lineup on c.b.s. during the gas lines in the early seventy's the anchor show was all in the family it broke t.v. ground everybody was watching it and the new york city water system took a hit when they played the theme at the end because everybody went to the bathroom so commercials do serve a purpose it gives you a little breathing room but again in the era of that skip ahead button on the clicker the commercial can easily be skipped and steve. just briefly i want to go too long but do you have the same experience going to commercial in your days a radio and t.v. yeah you know if you're lucky enough to cover something big enough to tragedies like t.w.a.

that crash in new york city or the death of princess diana i was on the air for both you know commercials might be done away with but yeah you know it you expected as a host that you're going to have to go to a commercial break so no matter what you're talking about you try to segue into the commercial make it interesting so that they'll come back you know it's called a tease and the listener or the viewer by now expects it as well or at least they that think collins right now would days you could just click past those commercials and steve sticking with you you know everything's changed the whole media landscape has changed give us to use holland showed a big picture as to how advertising is change globally in media. well i got to tell you you know as far as advertising there are you take the b.b.c. in the u.k. they don't use advertising but that is a rarity people pay for through a licensing fee and a monthly bill on their telephone bill or something same in japan and two thirds of the european nations that's how they fund public broadcasting but advertising is go

in knots and you know what the biggest advertisers are the biggest growth the segment that's growing the most online companies netflix google amazon air b.n. b. you name a trovato they are increasing by leaps and bounds in countries like australia and canada and germany and czechoslovakia and the u.k. because they feel that it's the best way to get eyes on their product so it's expanding and read revenue from t.v. advertising is increased over thirty six percent in the last two years it's one hundred eighty five billion dollar business so it's not slowing down it's gaining thanks you so much guys it's super informative as always and fun which is the most important part holland could close to the big picture of t.v. and radio commentator steve malzberg thank you guys you bet glad to be i was.

and speaking of fun ok boy the time has finally come check this out you know it doesn't really matter where you stand but that. is where you're going right we'll see you church generations look back at the establishment media as the lead in the water pipes that drove the romans mad do you find yourself watching t.v. to turn your brain off to rely i want you to watch t.v. to turn your brain on i'm rick sanchez. it's time. to do news again. ok i am so excited of c.n.n. fox and n.b.c. fame i'm pleased and honored to have with us the incredible media megastar anchorman rick sanchez not as excited as i am to be here oh it's so great that you

know you know i know seriously since we in the in the short time that we've got to know each other here i've just been so impressed by you your passion everything that you've done and i am i can't wait to work together as your partner here with our offices are next together so i'm going to be listening and trying to get any tips i can from the expert media well thank you for the compliments i love the promo and i love the it's time to do news again and i'm just curious we're so tribalistic now it's not just here it's italy and brazil. you know all over the world germany we're seeing this stuff so it's not just the u.s. but it's in the media too when you talk about is time to do news again and turn our brains on to give us some more context when you're absolutely right and i think you know what happens part is there was a time maybe thirty forty years ago in this country. where reporters had a passion for telling the story and drilling down until they actually got the facts

and i think today what we've done is and i think we see it we see it all over the place we have a tendency to stop short of the facts because we start asking ourselves questions about how it affects us or the place where we work now another thing that's extremely important stream lee important for us to always understand as news consumers right and it's the following probably thirty years ago there were about fifty or sixty companies in the united states that ran the media companies right today there's about seven or eight so what that means now let's let's let's make that matter to somebody who is just a working stiff like us let's suppose you're joe q citizen and you just graduated from journalism school at the university of minnesota like i did many years ago instead of having a lot of options at a lot of places a playing field that's large and varied you have a very small playing field so what does that mean what does that mean to joe journalists it means if you go somewhere and you say the wrong thing or you feel

that pressure to give the story the way that particular corporation wants it to be given you're going to be out on your ass and if you're out on your ass that means you can't feed your family and that's a big problem so sometimes when we look at these stories you have to bring it right down to the bare essence of what it means to the people who work at fox and c.n.n. and the new york times and all these places who are actually feeling that pressure from the top rick sanchez this is going to be a blast thank you so much for being here on the border working with happy to be here thanks bart and that's it for this time thanks for watching we'll catch you again take care. over the loans decade russia's foreign policy has been deeply related to the united

states does approach it the wolf when the american political reality became stranger than fiction mosco once the bilateral relations to give trying to normalcy good morning cynically should it do. i have faith in this government official of president i don't have faith in the system are so god it's all right i'm too liberal the system designed for people like this removed a bloodless. coup for the poor here for different reasons the loss of job loss of home. most people in philadelphia are only

a ballot two paychecks away from homelessness. china is in the software it's in the hardware as opposed to this so-called threat from russia where they're spreading needs that influence people to vote against their better interest they put a meme of a bernie sanders as a. bodybuilder and this war of the minds of america to vote against their interests but china is actually infiltrating the hardware with actual chips trying is actually protecting the soccer or the actual malicious software that's ok we won't talk about that. truth. hurts.

that. you'll still post it shouldn't be doing you just a little bit more still cheating if you do teaches it it's a pretty good speech just. survivors of the massacre at a crime in technical college speak to our team as three days of mourning begin their bit of a warning you may find the following images disturbing. as the city of courage grieves chilling similarities are drawn to the columbine massacre in the u.s. almost an.