this is soon bus broadcasting around the world and covering the world of business and finance and the impact upon all of us i'm bart chilton coming to you this time from miami our miami studios we're so glad you're on board coming up today as the holiday season is upon us and black friday approaches we talk about an incredible industry of more than four hundred sixty billion dollars that billion with a b this one is illegal and if you aren't careful you could be embroiled in it in a hurry and we'll talk about historic retail and what to expect this here which companies will be the big winners and the losers and where will be show folks be shopping and

are there are deals to be had killing for which the ceo's drawl mark will tell us plus an international agreement on how to address and confront one of the key issues of our time cyber security is moving forward and more than fifty nations agree with the direction they've won the united states the c.e.o. of various software todd shipley joins us and later he's back and we are indebted and we aren't playing in the crypto infin tech leader at the big four accounting firm pricewaterhouse coopers is with us to talk crypto all that ahead but first we had some headlines let's go economic summit tree and asia leads our global report today as the u.s. and china take their turbo trade and tariff show on tour making no progress on issues at the asia pacific economic cooperation summit or apec in power new guinea almost as soon as u.s. vice president might presents a ripe for plymouth. apac meetings he restated u.s.

grievances with china and stayed on message throughout the week and earlier today mr pence warned asian nations against an gaijin in china's vaunted belt and rode a nation of saying we don't drown our partners in a sea of debt we don't coerce or compromise your independence we do not offer a constrictor in belt or one way road stay tuned this week for more from the apec summit and the region and staying in asia nissan motor company has forced chairman carlos goan out after he was arrested he was arrested for alleged financial crimes nissan says internal auditors discovered evidence of efforts by mr go alone to mislead his colleagues at nissan quote over many years before today the brazilian born executive was most well known for his reputed reboot of nissan and french auto maker renault mr go on personally chaired the corporate partnership between the two

as well as serving as renault's c.e.o. . and speaking of that renault nissan partnership french president emmanuel mccrone has been compelled to restate official support for the project the increasingly unpopular former investment banker told media in brussels that as a shareholder whoever the french government will remain extremely vigilant regarding the stability of the alliance the renault group and its employees who had the full support of the state. as the holiday season is upon us and black friday approaches we now move to discuss an incredible industry of more than four hundred sixty billion dollars this one is a legal and if you weren't careful you could be embroiled in it in a hurry in the us the trademark and counterfeiting act of one thousand nine hundred eighty four makes it against the law to knowingly use or sell fake items but that doesn't stop the scam stores from trying and it doesn't stop some who want those.

knockoff goods from boeing here to discuss is an expert on the subject the cultural and vice president of corporate strategy for the international anti-counterfeiting coalition laura miller laura thank you so much for being with us we're glad to have you this is a pretty big problem oh tell us more about it i said four hundred sixty billion bucks but tell us more about that absolutely and thank you so much for having me this is a really big problem counterfeiting is pervasive and we all really need to work together to stop it we all love online shopping especially around the holidays but it means that these scam stores have essentially direct access to consumers all over the world and instant and can hide behind the anonymity of the internet and you know at least one point two billion dollars for example in counterfeit goods was seized last year by u.s. customs and border protection alone and that's just the stuff that we catch because direct to consumer shipments mean that millions of individual packages are landing on people's doorsteps every single day we're not talking about big cargo containers

that can be stopped and usually searched his or all individual shipments so it makes it very difficult for law enforcement to stop these harmful products from reaching consumers. i mean i assume that a lot of these are made particularly in china but is that right and where else might they be made absolutely they're made all over the world a significant amount are made in china also pakistan india eastern europe but wherever they are made what's important to remember is that these aren't just individual mom and pop shops selling a couple t. shirts in their living room to make a buck these are massive criminal enterprises and they're operating all over the world they're making these products in. conditions using often force or even child labor and they're using the money they make off of this big business to find other criminal enterprises as well things like drug trafficking terrorism so no matter where they are made it really is

a global issue for all of us. though how do we avoid this stuff i mean how can you tell i know if you you go and you've got a big rolex that a watchmaker can tell you that it's not the real deal but how can average consumers be prepared for this lar consumers just really need to shop smart and stay vigilant look at where you're buying from we say three p's place packaging price look at the place that you're buying it from if it's online do they have a reliable f.a.q. section to they have an active customer service line to they have a good return policy look around the story or in does it feel legitimity ask them where they got the product from you can always check in and before you buy and of course look at the packaging look at the product are there any spelling errors are there blurred logos is the packaging intact if we're talking about a beauty product for example do we have the safety seal there is the packaging or hand tags there at all look on the brands website compared to what you see compared

to similar items that you've purchased in the store before and if it looks a little off it's probably fake the same goes for price if it's too good to be true it probably is a lot of websites will say they have a direct factory connection or it's intended for a different geographic market but those are really just lies to trick unsuspecting consumers. laura thank you so much we hope you come back and tell us more because i know some people want to buy these things and i want to know i got a lot of questions about that too lauren middle of counsel and vice president of corporate strategy a i.a.c. see thank you laura thanks so much. and there's an asian update to report regarding the bankruptcy of former u.s. retail chain toys r us the c.e.o. of toys r us asia a deal earlier today which separates the asian unit. from toys r us incorporated

while enlisting an eighty five percent buyout from shareholders in parent company truett l l c fung retailing toys r us original regional partner they will retain a fifteen percent share toys r us asia says the reconfiguration will allow the company to not only survive but even expand andre hobbit as president of toys r us asia pacific said the deal quote means that our current shareholders both funny retailing and the taj note holders are focused on only one thing the development and growth of toys r us asia within our countries. and as black friday approaches and retailers are getting ready or many might already be ready for increased fourth quarter sales which will be the winners and losers here to help us understand as hillary ford which the c.e.o. of stroll mark hilary welcome back another topic another day and we know you're

going to be great on this one looking back we what do you consider sort of the best years for retail and then what do we expect going further or good to be back bout. two things first of all last year of course was a tremendous year two thousand and seventeen was the greatest actually old since basically two thousand although two thousand and four was an absolutely huge year two thousand and eight was ghastly as was two thousand and nine and predictions are this is going to be a very healthy season due to a number of factors of course household income is up wages are up and that's due to tax reform and of course many factors in the economy including job growth. and how much of the retail hillary is split between the traditional brick and mortar stores and e-commerce e-commerce is now up to nearly thirty percent and it's growing year over year and it's purported of course to grow and by twenty twenty i think one of the things that we're going to see a big prediction is that generation the millennial is of the generation of. a lot

of attention but generation y. is going to get a lot of attention because they are by twenty twenty going to be a vast demographic one of the most powerful demographics in the marketplace and you're also going to see a lot of difference because you're going to see drones they say by twenty to twenty a great percentage of your deliveries to your home in that last mile will be by drones and it's expected within thirty minutes the last mile regardless of traffic and you can imagine in dense demographic areas like new york washington l.a. across the u.s. that's going to make a lot of difference scares me a little bit what about the drugs coming to our houses in our apartments so you know you may have answered that question with thirty percent of this being e-commerce thirty percent of the sale but other than amazon who might be the big winners or losers who actually was interesting bodies in the top ten we only have to online sales specific and that is amazon and q b c the q b c network the rest of them are all brick and mortar you've got wal-mart and kroger costco some of the big

ones kmart they're in the top ten as well and i think what you're seeing overall is a trend bot is the convergence of the convergence between brick and mortar and e-commerce and that's what's happening actually brick and mortar of course is realizing that they must have an e-commerce component maces stock is up one point one percent macy's is up predominantly because they have embraced brilliantly the e-commerce and online shopping using an immense amount of data analytics particularly from their blue mercury line their make up line and that's seen a huge difference in their stock but you've also seen a brick and mortar adopting the e-commerce you've also seen traditional online and such as amazon now opening amazon store so they're going to brick and mortar so it's the convergence of the two that is the biggest trend. super interesting thank you is all here we are for a great c.e.o. mark thanks ellery and welcome i've got it. and time now for

a quick pause for promotional cause but stay with us because when we return we'll discuss an international agreement on how to address and confront one of the key issues of our time cyber security the c.e.o. of bear a software todd shipley is standing by and we talked kryptos with the crypto has been tech leader of the big four accounting firm p w c n really hard play in the and here are the numbers at the closing bell stocks down today all across the big board back in a flash. you know world a big part of the movie lot and conspiracy it's time to wake up to dig

deeper to hit the stories that mainstream media refuses to tell more than ever we need to be smarter we need to stop slamming the door on the back and shouting past each other it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks.

join me every thursday on the alex simon show and i'll be speaking to guests of the world of politics small business i'm show business i'll see you then. welcome back the primary whistleblower in the massive and ongoing scandal senator around the us don't want to end branch of the dance the bank seems to have dropped another bombshell by telling danish parliamentary committee that two u.s. based banks were complicit in processing suspicious transactions linked to the tainted branch howard wilkinson dante's former head of trading for the baltic region did not name the two suspects but estimated one of them processed about one hundred fifty bill. in dollars worth of suspect transactions mr wilkinson also testified no one really knows where this money went all we know is that the last

people to see it were these large banks in the u.s. that detail seems to coincide with investigators what they know about suspicions about the roles of bank of america j.p. morgan chase and deutsche bank in helping dansby move that covert cash out of a still money and international agreement on how to address and confront one of the key issues of our time cyber security is moving forward and more than fifty nations agree with that direction french president emanuel mccraw unreleased international cyber security plan containing principals as part of the paris peace forum last week in addition to the national signatories more than one hundred thirty private sector organizations and dozens of charitable groups and universities are on board with the effort the obvious absent here is wait for it the united states surprising maybe not so what is the agreement and how big a deal is it and why has the us chosen to once again be the odd nation out here to

tell us as a c.e.o. of various software cyber security expert todd shipley todd great to see you again thanks for your time and what is agreement all about well i'm not sure that it functions the way that mcchrystal wants it to it's basically a list a wish list of things that he would like to see happen and the countries of signed onto it and i think that's probably why the united states has not signed on to it because there's no teeth behind the agreement there's nothing really there of any substance that's going to change what we already have. and todd what are the key things that he would like to do you say there may be not be enough teeth there but is it really just policy platitudes and not much more there or is there something there behind it that might actually be important. well i think the concepts are important but there's nothing there's no teeth behind them to make them do anything there's already an agreement in place the budapest agreement from two thousand and

seven that already did list a lot of these things but what they want to direct is to have countries not do the things that have been going on for the past couple of years particularly the united states from russia and from china now why the united states does want to play in this space is yet to be revealed but part of it has to do i think with the fact that there isn't specificity in what they want to do there's just generalizations of don't do these things and being a nice person in cyberspace in the big part of one of the. platitudes is that they don't want to hack back and what that means is not defined and so i think part of the problem is that there's no real definition of what they want to do other than just say please don't do these bad things on the the world stage and don't cause a war and don't do these things to prevent other countries from doing these things and there's no real sense in what they really want all this. so it sounds like you know the rubber really needs to hit the road on some policy specifics and part of

that's got to be with the private sector certainly not just big government acting like a big foot and telling folks what to do right. oh definitely and i think that's where this really needs to go the governments can dictate certain things to be done but the real control the internet is not by the governments it's by the companies that actually own the internet the ones that are actually doing the day to day moving of data across the internet in the control of it and those companies have to make some realistic changes in what they do and that's where the should really go not just the platitudes they should look back to what happened in budapest in the conference there because that's the controlling agreement and mccarney even talks about it in this document but it's only four pages it's not a very long document that describes the kinds of things he wants is a wish list he'd be better off sending this to santa claus is a wish list than what he's done with it because it really doesn't accomplish anything in its current form. todd we want to have you back in the next couple

weeks if you have time and tell us exactly what we should be doing todd shipley the c.e.o. of various software thank you todd great to see our it's good to see you. as bitcoin prices take a bathing the crypto sector is reaching another landmark the sixth that's s.-i x. stock exchange in switzerland is reportedly ready to list and none crypto basket exchange traded products at the a.t.p. exchange traded product of kryptos for trading this week the a.t.p. will be pegged to a formula five existing kryptos bitcoin ripple a theory i'm bitcoin cash and light coin and listed as hodell h o d l and sticking with triple currency if we've spoken in the past about how crip those have managed to stay relatively stable and right of in light of recent erratic market

movements well we are joined earlier by larry in the fin tech and crypto leader a p w c n n asia to speak about the future of crypto currency is around the. loeb we started by asking him about the relative stability of cryptocurrency. absolutely bartha actually you know if you like the bitcoin earlier this month it was trading at eighteen month the low volatility which is quite interesting but i get to show how things change quickly in the crypto markets look at all the last forty eight hours we saw a lot of change in the crypto markets for example of bitcoin fell to its slowest of two thousand and eighteen that you were around the five thousand five hundred dollars and the market cap of crypto assets fill again to around one hundred eighty billion dollars which is quite interesting and there's a number of factors that may have driven this and no one of them is the upcoming uncertainty around heart for that is taking place would bitcoin cash one of the top five occurrences out there which has really divided the community and create a lot of uncertainty which again is not the surly positive for the echo system

henri you you speak with a lot of the same folks that i speak with and and i've heard this analogy between cryptocurrency is which clearly had a bubble licious year last year with bitcoin rising at twenty k. and the dot com boom of the ninety's do you see a comparison there. i think is a lot of similarities you know when you look at the dot com boom that took place obviously a lot of companies went bust but then you had some of the large technology players in the big success stories that came out and frankly really transformed the way we live today and i really expect the same to take place in the crypto space for example when it comes to i.c.a.o. is today you know i think it's very normal that the majority of these may fail but however they will be some winners out of this group and these companies may change the with the world in ways that we can even anticipate today you know henri there are a lot of i c o o's and i speak with these folks all the time not not just on the air on boom

bust here but some of them that we're thinking about trying to rush things out last year or do and i c o. are actually pretty pleased they did and they think that maybe you know some regulators would have their eye on them if they had raised all this money without her potentially doing all their dude diligence that sad some of the money may have dried up this year what are your thoughts about whether or not last year was the year to go i c.e.o. or it's better to have waited. now obviously it was you know it's very interesting bart if you look at the data obviously last year was a record year for i see it was actually this year as well when it comes utility talk and i see those total day mounts raised are higher than last year however to this moment we are going through what i can call a bear market for utility talk and i see a woman just to put things in perspective last month was a record low month with less than three hundred million dollars that was race for ice year olds and if you compare this to a generate that's

a fall by around ninety percent so it's definitely difficult time now for i suppose that being said we're seeing really the market trend towards something we call security tokens a security token offerings which fall within the regulatory existing regular framework in many jurisdictions around the world yeah i want to talk a little bit about that about regulation you know you and i are sort of in the same place on crypto currency regulations that we you know that we've talked about it was for before henri that we think some appropriate rules are needed but for the record and i know there are people out there probably screaming at their televisions and computers now some crypto enthusiasm disagree with that they hate it they hate folks like us who even suggest the government needs to be involved and i understand their view i just don't agree with it but you are the chair of the thin tech association in hong kong and i know you've been working and involved in helping the good folks over there that i spoke with last year at the hong kong monetary authority to come up with some basic rules and they actually release on

recently tell us about those. absolutely abarth i mean not a week goes by without any new regel treaty. changes i mean only if you look at the last week you know the people seeing china announced that they did maintain their bad and i suppose you had more issue they came out with consultation on custody rules for crypto you know and you had thailand for example that they want to come up with their new rules for their for improve their first ice your portal but when it comes to hong kong that's probably where we had some of the most exciting developments for example with the hong kong regulator issued a new framework not only for crypto exchanges but also crypto funds and just to give you an example under the new framework and the crew license fund manager in hong kong and there's more than two thousand of them can hold up to ten percent of its portfolio in crypto us that's what are any additional licensing requirements and if it wishes to go over ten percent or actually make a dedicated crypto fun it may do so but obviously there are certain restrictions

with regard to type of investors they can have and or capital requirement or the type of policies on the risk evaluation they must take they need to have but it's obviously a very interesting development when it comes to cripple funds and continue to position hong kong as a leading asset management center not only for the show us and management but definitely for crypto us at management as well but henri how do you how do you sort of split the baby as it were between too much and not enough regulation you know i probably i know that are are people that you and i both know enjoy brawl to or for example you know have a fairly low bar and then the us of course a pretty high bar you know how do you try to get that middle ground between not enough and too much regulation. that's an excellent question of art and it's actually very difficult for regulators to find the right level of regulation for the crypto space not only because it's complicated but also the industry moves so fast but frankly i don't think the regulators get the credit they deserve i can

tell that from my own personal experience the average regulated i speak with is way more knowledgeable on crypto than the adverts. senior banker for example and in many jurisdictions around the world we're seeing regulators take the initiative to come up with appropriate policies i mean europe you mentioned gibraltar does malta france recently is coming up with very interesting regulations in asia we have countries like thailand like hong kong and i expect many other jurisdictions to follow suit over the coming months and this is exactly what the cryptical system wants they want approved more clarity when it comes to the critical system and this is actually generally positive for the industry it reminds me when you say that they want more clarity right after the financial crash when i was at that commission a financial regulator after a while what the market participants said is just give us the darn rules i mean just tell us what the rules are we don't like i'm probably whatever they are but we just want to know what they are so we can abide by them. i want to ask you one

thing that may be an unfair question but you know we talked about krypto prices in the past where do you see them going perhaps in the next six months or maybe even through you know the first half of next year. you know always say whatever believes they can predict the price of big chord must have a great sense of humor frankly the way i look at a critical crisis i think it's more of a destruction than anything else with a number that i really look at actually is a number of institutional players entering the space for example in recent weeks we had players like goldman sachs in the mirror on the banking side make their announcements of their plans on the crypto side and even on the asset management side you had players like fidelity announce what they how they want to service situational investors and on the investor side also some of the dallas from the u.s. announcing their critical investments and this is i think these are some of the developments i think are more important and frankly the price of crypto ossets and on the long run will add more value to the i call system as we know what the brother

cryptosystem on re are slain in the tech and crypto leader for asia henri thank you so much for your time. and. that's it for this time thanks for being on board as always you can catch boom bust that youtube dot com slash boom bust r.t. so long for now. what holds his hands to you so 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 it's like that before three in the morning can't be good. i'm interested always in the waters in the. west sydney.

nobody could see coming that false confessions would be that prevalent in this population of all the converts books and any interrogation out there what you'll see is threat promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make them one comfortable make them want to get out and don't take no for an answer don't accept their denials she said therefore which. sat on a statement that i would be home by that time the next day there's a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with all their crimes.

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