impacting u.s. aircraft manufacturers with alex while it and later boeing has issued a warning related to those seven thirty seven max yes the same plane that went down last week killing all one hundred eighty nine people aboard off the coast of indonesia former national transportation safety board director jamie finch will join all of that directly ahead but first we hit some headlines let's head it. last week we spoke about the tax on big internet related companies like google and facebook at the united kingdom and noted the european union was also considering a three percent tax well in news today that the e.u. has at least temporarily abandoned the proposal after a group of member states including ireland sweden and denmark all said they oppose it while the tax proposal appears to be dead if resurrected it will need approval from all twenty eight member states. spanish banks are celebrating after a large legal victory related to the spanish supreme court ruling which exempts the

banks from paying a so-called stamp duty tax on mortgages the ruling overturns a decision last month and saved the banks five billion euros or roughly five point seven billion dollars alberta guards on the federal coordinator for the united left party wrote a tweet and it said quote what can we expect from a justice department that's tough on the poor and soft on and sold out to the rich . and sick with banks russian banks are complaining about regulations being too tough the news comes after the russian central bank has already addressed the country's troubled banking sectors hundreds of smaller banks have failed and three of the top ten banks have been nationalized the controversy centers upon some key issues including the central bank effort to ensure more strict capital requirements upon banks as they seek to designate some of those banks as systemically important to the russian economy for the bankers part they say strict rules are already in

place in the european union and u.s. economic sanctions make it difficult already to raise capital. and sticking in russia rosneft the nation's largest oil producer is making new capital investments in four large oil and gas exploration projects amounting to nine hundred billion rubles that's about thirteen point six billion dollars that's an increased investment of about a third over last year the company is using some of the recent large profits as third quarter profits increased by an astounding two hundred fifty percent due in part to higher oil prices and the two year devaluation of the russian ruble. the two thousand and eighteen u.s. midterm elections are now history the democrat democrats take control of the house once again while the republicans retain control of the senate the story of how these results will impact the u.s. economy is yet to be written earlier today president trump weighed in on the results. hopefully we can all work together next year to continue delivering for

the american people including on economic growth infrastructure trade lowering the cost of prescription drugs these are some of the things that the democrats do want to work on and i really believe we'll be able to do that i think we're going to have a. lot of a lot of reason the numbers are the same thing through siesta traitors and company executives than firms from financial services to infrastructure to big pharma and the internet giants will all be watching anxiously to see how the new landscape will impact their companies what will it mean for their bottom lines and what about trade with the rest of the world let's take a look at what's the new congress might or might not be able to accomplish with conservative commentator steve malzberg hey steve thank you for looking at this i know you were up late last night watching the results and we appreciated that i enjoyed watching you but let me ask you nancy pelosi tweeted the current minority leader and potential speaker of the house in the next congress and she said it

deserves to be voted as a speaker once again when they they offered that president trump said she deserved to be sworn in as speaker of the house and he may be doing that tongue in cheek but can you see the two of these folks working together. i could see it under the correct circumstances by the way of trump a perked up later in the press conference believe me but i could see it under the right circumstances however trump also said at his press conference today that if they investigate me then there's going to be no deals i'm not going to work with a congress that's investigating me now does that mean impeachment does that mean it investigating a possible ties to financial firms or whatever does it mean any investigation i don't know but there is a lot of commonality don't forget donald trump is not an idealogue and donald trump would like to see infrastructure done and something about prescription drug prices but it just it just what remedy and how willing will they each be to work with each

other i'm not overly optimistic steve let's take these sectors specifically let's first look at financial services companies was done really well over the past few years especially the banks congresswoman maxine waters and she is in line to be chair of the financial services committee in the house what might that mean well. donald trump has his appointees in nine of the ten agencies that deal with the regulation of the financial sector so it's going to be rolling straight ahead i don't think is going to be stopped now maxine waters naturally is going to scream break up the banks she's going to investigate you know equifax wells fargo deutsche bank to have relations with them and it's could be more of a headline fiasco for these firms that and banks like goldman sachs j.p. morgan and morgan stanley and they could weather that storm because nothing is going to come of it because nothing ever come be done in the senate and of course we just had the fed last week part you know three to one the fed voted to loosen

proceed with loosening regulations that were put in place during the aftermath of the financial crisis and dodd frank so i think they're going to keep going in that direction let me let me ask you a question let me turn the tables a little bit i happen to think loosening the regulate. there's a good idea i'm anxious to know if you agree though berridge i mean the bottom line is democrats are not all of them but they actually push for these regulations that would have had they been enacted before the crash circumvented that problem we wouldn't had the big crash but the bottom line now is some of those regulations are being scaled back but what debate some of the specifically in the future i want to bring to the reporter to see your straw mark hilary i thank you for being with us what do you think of this new political landscape and particularly with tree where your thoughts about how the new congress may impact three or pleasure to be back bob i think we need to look at with regard to trade particularly nafta what's going to happen now the democrats have control of the house and as you mentioned obviously the senate has retained by the republicans i think there's too much to

lose from everyone in every district because the supply chain is so great across this nation that i don't think we're going to really see nafta impacted to any great deal i think we all should look though at china what's going to happen with china i think if some of these investigations that are threatened are going to take place i think that trump will feel embattled embassy and when he's embattled the besiege what does he do he looks for an enemy who's going to be as enemy despite his meeting at the end of november was she president she i think that he will look at china as is enemy i mean that's the nearest choice i think we should look also as the stocks that have done very well due to some of the vote in particular in colorado where the voters voted to repeal or actually to not discontinue oil drilling oil industries have done very well all the oil companies up banks though you mentioned maxine waters banks on nervous bank stocks have not fared particularly well citi corp j.p. morgan wells fargo over wells fargo some other reasons too but all three of those

are sort of down somewhat so i think banking suffered also health care is up because now of course there's the thought that obamacare or the affordable care act won't be repealed so that's been good for the health care industry and then also of course infrastructure both parties want to see. the infrastructure bill something to do with have a structure go through that is very good for the construction industry both domestically and actually internationally because a lot of international funds like scans go and others do business in the u.s. you know and you both mentioned infrastructure and i'm down with that but the problem is it's you know hundreds of millions of dollars and the pay for is just really problematic since we spent that one point five trillion dollars the u.s. did on the tax cuts both parties are going to want to the infrastructure bill the question's going to be how they go to get the money democrats will get it from a different place than what the government pay for it so there's two different ways to look at that and we'll just have to see how it's funded but i think both parties want to push through an infrastructure bill now i think you're right hilary hey steve let me ask you about energy you know there were several ballot initiatives

hillary mentioned one in colorado but to place more restrictions on oil companies and and we spoke about one in florida last time what do you think's going on and what's happened with some of these well you know all four including the one hillary mentioned there were four western states that had limitations on oil companies and or you know was propping up renewable energy and they all were defeated soundly in washington state they actually had a proposal to institute the nation's first carbon tax a direct carbon tax that was defeated in colorado it was a drilling issue and not letting the oil companies drill within a certain a distance of homes and schools that was defeated in nevada and the energy the biggest energy electricity company in nevada they have a monopoly and this was to break up the monopoly you have a lot of the casinos there when m.g.m. etc they want to break loose from this monopoly that was voted down and then in

arizona you had another. ballot that would have boosted the percentage of renewal energy use in electricity that was voted down so not a good day for the renewable energy industry or for those looking to get the oil companies great. not sis i want to bring holland cook in now he's the host of the big picture here on r t america holland thank you for being with us what do you make of the recent these results generally well like a good news junkie as steve said i was surfing cable last night and i focus on tech as you know and expect a few surprises because there were so few surprises last night they would have been a great story of bet obie ted cruz but by and large things pretty much went the way these elections go mid-term it doesn't hurt that the whole market is up lately and tech has been such a bellwether in olden times they used to say as g.m. general motors goes so goes the nation well you now you splice in the word apple or

amazon and they're bouncing back after a couple rough weeks so i am on phase two the market seems unfazed things are coming back and in the case of amazon which you're seeing touted by the street and raymond james and some of the others i follow here comes santa claus and that's the tip of the iceberg their cloud business is up over seventy percent they've more than doubled their advertising business so it's really hard to connect the dots between what happened in the elections and what's going on in terms of the tech sector but hala let me ask you i mean we talked a moment ago hillary and steve both talking about infrastructure and i'll tell you what that pay for that getting hundreds of millions of dollars i just don't see it happening i that day they dance a lot of nice dances but a going to happen but one thing they might be able to do is someone privacy or

cyber security do you think that might be in the offing i don't think in the same thing i live in rhode island and we've had a lot of infrastructure work nobody wants potholes and crumbling bridges but did they give the money away in the tax. cut and the beauty of the privacy thing is twofold it's not controversial like gun control or choice and it's free so even though these tech titans the facebook and the google guys have a tough time finding their necktie i predict they probably will because there's probably going to be more congressional hearings and it's a chance for dems and republicans to look coom by. steve you would you agree with hollande on that something might be done on privacy and cybersecurity absolutely i think nothing's going to change you mentioned europe just passed those those provisions on the tech companies and the social media companies and i think both

sides it's a bipartisan issue they're both ticked off at the these companies for the privacy issues the release of data and also the censorship at least on the part of censoring conservatives so i look for that to roll full steam ahead and it may not even have much of an impact on company stock but it seems to be to be low hanging bipartisan fruit boy steve malzberg holland cook and hill reportedly appreciate you all being with us thanks so much guys that banks. and time now for a quick break but we're going to squeeze in just a little promotional cause but stay right there because when we get back we'll be all eyes on the skies and tell you about the new chinese space station and we consider how tariffs are impacting us care manufacturers with alex money high living plush former national transportation safety board directors jamie fitch will join us to discuss bowling warning related to those seven thirty seven max jets that's the same plane the lion airplane which went down in indonesia last week

killing one hundred eighty nine people as we go to break the dow jones jumps up over five hundred points today the nasdaq and s. and p. are also up as well we'll see after the break. there's no break here and no one to know why says terrorists.

memories. twenty four years ago this country sold. to the world. after the genocide there are women in rwanda the men. fell to women to fix the broken. welcome back a g.m. marine one of the largest shipping fuel traders has filed for bankruptcy protection in new york the bankruptcy comes as a g.m. has faced increased troubles including those discovered by the relatively new

owners of the company which conducted ought it's going back to two thousand and ten one of the fine he reported last week was a write off of two hundred million dollars in an otherwise expected payments it appears an additional one hundred million dollars may have been missed. appropriated in a fraud which included prepayments for oil deliveries which were never made shares of g.m. had been plunging at the new york stock exchange since the news began to break. a large mining company glencore has halted operations in the democrat republic of congo as has and its top selling cobalt from its comodo mine after identifying low levels of radiation in the mind materials cobalt is used as a key ingredient in batteries according to the company they will construct an ion exchange system to eliminate the uranium which isn't to support it to cost nearly twenty five million dollars the system won't be in use until the end at least of one in the second quarter next year. in an effort to fight video game addiction

large video maker the chinese multinational ten cent has they set a new group of rules for under age gamers the rules come as government approval for games has slowed ten cent will check player identities and ages using police databases for all ten cent games children under twelve will only be permitted one hour of play per day while thirteen to eighteen year olds will be permitted two hours now the why here is the interesting thing to note tencent is a big investor in online video based games in fact it even owns riot games the creators of the world's dominating video game league of legends in two thousand and seventeen the company earned ten cents a cool two point one billion with a b. dollars in worldwide revenues of all things ten cent does not want to jeopardize its revenues and to do so the company executives believe that they are helping to keep regulators happy with you. and it's been more than two decades since the

international space station was sent into orbit and since it's been a key fixture of the space frontier but that could be changing china is looking to the skies for its next move as they just unveiled their model of a new space station they play. to launch according to report the center module will be about fifty five feet long it will weigh five dozen tons the country is named the project on gone which means heavenly palace in mandarin although the country company has the country has unveiled the test module construction on the project is set to begin in twenty twenty two. president donald trump's tariffs are taking their toll on the multibillion dollar aerospace industry one of the biggest airline markets for the u.s. is china and with the president trade war in full swing the company is looking to take its business elsewhere argues alex mahela bitch is a toronto with more alex it seems getting orders off the ground as it were for us

airplane makers could get tough as china considers closing its hangar doors what's the latest. well look i mean you couldn't put tariffs on somebody chances are they're going to put them back on you and then back in april china said you never tallaght ory way which everybody expected that they're going to retaliate that they could they're going to put tariffs up on soybeans and on aircraft now the part of the aircraft industry that's going to be hit here are medium to small aircraft we know that china has a growing middle class as well as an upper class they like to buy their own private jets the middle class likes to fly a lot more so you need smaller local planes to be flying around china and elsewhere in asia and this is what china will be hitting of course bigger planes will be affected as well here check out this graph this sort of gives you a good idea of what's going on here top two thousand and seven u.s. exports exports to china what's at the top the list gets a lot of its aircraft so this is a big hit if it goes day out and look at boeing knows boeing knows what's happening

here based out of chicago we've got an american company here we're looking at the next twenty years china is going to be ordering close to seventy seven hundred planes that translates to one point two trillion dollars in business that america could be shut out of also now the orders with the bigger planes thirty or forty percent of those orders can get moved over take it away from boeing and given to boeing's biggest competition which would be air bus from france so when you look at this though this is a this is a telling when you have china airlines which is a company that's exclusively bought for boeing to days now they're talking to air bus so as these sanctions or i should say tariffs move along these are the type of things that will pop up and hopefully hopefully i know that everybody is that optimist in november some things can be solved this there's an airshow happening in china right now where all these big wigs are there and both boeing and airbus want to see the tariffs gone alick you mentioned boeing you mention air bus and you

mentioned one chinese company that's working with air bus but is the chinese aerospace industry on a haul are they also suffering because of the tariffs. well of course and i mean we're talking the chinese aircraft industry we're not talking about air bus and we're not talking about point we're talking about smaller manufacturers that make parts such as combustion aircraft engines optical instruments and things that our companies like boeing and other western companies like airbus need so what happens there not only are these companies being hurt but the whole supplying che's supply chain is then it hurt and that means that things can't be done in time and it disrupts absolutely everything so when it comes to the airline industry it's obviously an industry that depends on globalism it depends on supply chains that countries depend on each other and when it comes to china yeah you can get a little bit and it probably hurts them a bit but let's face the facts here china is not. diving in any quick dive right

now because of the terrorists against china it's still afloat you're not going to destroy china and the best thing that would be that the americans could do what what trump could do is in november maybe come there to talk about some things because the airline industry is massive it's a multibillion dollar industry for the u.s. and jobs can be lost and i think if trump really cares about his own people well he's going to talk to china in a little bit of a different way and trust try to stop these tariffs from actually going into full play r.t. correspondent allison helots thank you alex thank you. and sticking with the aerospace airplane manufacturer boeing has issued a safety warning for the new seven thirty seven max models that's the same model jet which crashed off the coast of indonesia last week killing all one hundred eighty nine passengers aboard saying that in a roadie is gauge reading may occur from a flight monitoring system and can cause the plane to aggressively dive not good here with more and he is good as

a former director of the national transportation safety board jamie thank you jamie thank you for being back with us we sure appreciate it as such a worrisome story and. what did they find i know some of your former colleagues n.t.s.b. colleagues were over in indonesia but what did they find and what is boeing saying now well obviously there they found some very additional information regarding the investigation and the mystery erroneous information that's coming off of one of these sensors they give a idea of what the air speed is of the aircraft now that's very very important as you just said because if the aircraft doesn't know how fast it's going look at look at this what is the odometer of the aircraft and so if it does not know how fast it's going it cannot produce the amount of speed and thrust the knees to create left and no and create the right angle of attack which is the way that the plane is flying through the air for the for the air to go over the wings intreat that lift i

was i was reading one story that talked about how it auto corrects and that's what makes it go into a dive and that the steering column i guess shakes for ten seconds and physically tough to pull it out of that and if it doesn't do it doesn't pull out that it shakes again like that i guess fisherman and boats in this in the in the water there saw the jet going in at a steep angle a steep angle and they said it was probably traveling somewhere upwards of six hundred miles per hour by the time it hit the water but what you're what you're speaking of is the stick shaker is what it's called the so little it shakes is literally does the yoke which is what the pilot uses to fly the aircraft the boeing aircraft. it will literally start shaking if it's if the aircraft is sensing that it's about to go into a stall which is basically done now that the natural. reaction for something like that for if for a non pilot is would would be oh you're you're falling you know is to pull back you

know get more up in the air know the actual reaction to be to push forward so you start going down and getting more airspeed to get that lift. to get the wind the air going over the wings of the appropriate speed now they also called the death rattle to because that can be a shake it's going like that because you're going into that stall and that in the closure of the industry that's what people call that is a very tragic situation when the boeing and the industry must get ahead of immediately let me ask you sort of two questions and one on one i mean how many of these planes are out there what airlines have them and why the heck hasn't boeing just said stop using them well it's very interesting there's only about two hundred just over two hundred of these aircraft the seven thirty seven max series now there's over there's been over ten thousand of the seven thirty seven series as a whole over the history created but there's about nine thousand seven thirty seven

in the air but of this mag series there's only about two hundred plus about two hundred nineteen that are in the air flying but the interesting thing about it and much of so vital in crucial for boeing is that there are forty five hundred more of these on order for delivery so this is a huge moneymaker for boeing is a huge money maker for the industry because they're so fuel efficient and they are wanting to get these this workhorse perfected so they don't have these incidents again and you know it's already impacted the boeing stock price a lot both both in the last couple of days since this announcement on the warning just in the last not even twenty four hours and then over the last month you know we talked about when the plane went down impacted the stock too and of course there's the tariff so boeing even though they're big and robust they may have some trouble jamie finch former n.t.s.b. director thank you so much appreciate you being here thank you. and that is it for

this time thanks for hanging out with us you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. that's a pretty t.v. app channel one thirty two or as always hit us up at youtube dot com slash boom bust r.t. will catch you next time. there's no way to build around pretty clear and no one to know why says a terrorist. memories. twenty four years ago this country's soul a read only end of the world. to the genocide there in the home women in rwanda the man.

it fell to women to fix the broken. what started the revolution recently against mubarak was that the price of wheat went up to the price of food went up to forty to fifty percent of the monthly budget of the average injection and therefore we've all that if you want to create a revolt if you want people in the streets rioting if you want a global insurrection against banker occupation keep rising without raising the price of fish keep raising the price including you'll get your out you get your insurrection you'll get your torches and your prayers for it still get your hundreds of millions of starving people on your front lawn demanding to be fed you'll get it. ministries police fool says and city administrations of many countries. depend on one corporation that

does what mike was hoping the board got from from going because i'm god i'm stumped this is going to going to go through the. woods as the good you got into the sea at the last possible by boom proprietary software you don't know the source code isn't that a such a security risk when you have a black box operating good public eye to microsoft dependency puts governments on the cyber threat and not only that shooting things off mess could put us in more and that's what we call selfishness is an easy sell in the stores the only one local do more for the willing to almost all the people didn't miss you in the world was all of the best with your things this is the arsenals that will be done with the old business stopping them also stonewalls a fund is up and describes in the fine.

subscribe to read. for just twelve euros fifty. may have the following this week's elections president trump. the media blaming it for deficient in the us also ahead on the program. in the german city of humber. romney is matched with a heated counter protest just as a recent study finds a surge in opposition to multiculturalism growing support for or for its hereon rule amongst germans i don't agree with that at all and i hope that the majority.