and look to twenty nineteen with a car coach lauren fix and later we look at the economics and big bucks of the beauty industry as startups challenge the status quo companies molly barrows would be here to discuss all that directly ahead but first we hit those headlines let's go. opec and oil prices lead our global report today as russia lends key outside support to a plan to cut production the organization of petroleum exporting countries on the second day of the one hundred seventy fifth meeting is firming up plans for a total cutback of one point two million barrels of production per day after opec member states iran was given a waiver to gain their support and key nonmember ally russia got on board the move caused oil prices to spike with prices jumping four point five percent in early trading pushing towards fifty four dollars per barrel although prices did wane later in trading the pullback plan would reportedly assigned cuts of eight hundred

thousand barrels per day to opec members while russia and a number of other small producers would account for the remaining four hundred thousand barrel reduction russians emerged as a highly influential nonmember seeming to manage global supply in the defacto alliance with saudi arabia discontent with saudis dominant status is said to be growing within opec and the kingdom seems to be walking a tight rope as it tries to balance constant demands from u.s. president donald trump for lower prices and its relationship with russia and other producers. and there are more unsettling science for the u.s. economy as u.s. labor department employment numbers came out today for november and they came in below expectations and showed a significant drop off in job creation from the month before the fresh figures indicate just one hundred fifty five thousand jobs were created in november down sharply from two hundred fifty thousand in october consensus expectations in the dow jones survey were for a. hundred ninety eight thousand new jobs the official unemployment rate of three

point seven percent was on change the labor department also reports average hourly earnings increased by point two percent in november below douai survey expectations of point three however the latest numbers still show a year over year trend of three point one percent growth in wages and here to discuss and break down the numbers is conservative commentator steve malzberg see thank you so much for being with us what do you make of these numbers sort of overall first of all well overall as you mentioned although the jobs numbers were disappointing according to the expectations the unemployment rate stays at a record low from one thousand nine hundred ninety three point seven percent when you break it down to demographics men women etc everybody say just about the same but significantly black unemployment went back down to its record low from a down three tenths of one percent to five point nine and hispanic unemployment

just for the record was a just one tenth of a percent off its all time low so those numbers were good labor force participation rate stayed the same at sixty two point nine percent and you have for the thirteenth time under donald trump a record number of americans working nearly one hundred fifty seven million so i think all those numbers are positive even notwithstanding the fact that the actual jobs number itself was below expectations. yeah i agree with you i mean it's tremendously positive news i just you know these experts that look at it and say it's going to be this it it it's that you meet with them to hard to do you know they're not republicans democrats so it's hard to argue that it's a little disappointing but those are certainly great numbers and that boy that three point seven percent unemployment rate gangbusters steve that any particular sector as you mentioned groups blacks except for and others but did you and we know that teenagers always get the height they have the highest unemployment rate but

any of the sectors stand out to you steve. yeah well health care again checks in think the most jobs created last month with thirty two thousand and that's becoming a kind of habit forming manufacturing also habit forming twenty eight thousand jobs and we should point out that the total for the year twelve month period i should say it's two hundred eighty eight thousand manufacturing jobs and that's just so important i know i'm a trump supporter but i can't help but say that he campaigned on bringing back manufacturing jobs specifically and certainly that that has happened you also have it in the legal services accounting and lawyers etc they finished up with almost thirty thousand jobs so i'm not sure what's going on there and like a good conservative any time government jobs go down it went down six thousand in the month of november so to me that's a good number as well. hey steve let me ask you i mean what do you think's going to happen going forward we know there's a lot of is always a lot of holiday hiring particularly in retail but we've seen

a slump in the housing market i mean do people see you know that we're going to have a big downturn maybe not in the december numbers but then we when we get to january those will be released of course beginning of february that first friday then we think we're going to have a negative report then. well you know i mean in the long run without being specific to january in the long run a lot's going to depend on our relationship with china where that's going to take us where we're going and oh you're going to talk about that in a few seconds a few minutes also you can expect to have two hundred thousand jobs plus created every month when you have almost full employment and there aren't enough workers to go around so that if you're looking only at the hard number of jobs created yeah you might be disappointed in that number might become a lower and lower also the uncertainty with interest rates wages as you mentioned came in it does here a point two percent increase they expected zero point three that might be good news for the fed when it comes to interest rates so we'll have to wait and see there's

a lot of factors that go into it as you know better than i. hey steve i want you to hang around clay want you part of this next thing that we're going to be doing bring it back and just a moment now i want to move to the drama surrounding huawei it continues as the government of japan reportedly has banned while away and its chinese peer we spoke about that on the program before from any role in government procurement contract japan's decision would follow similar recent moves by australia and new zealand we've told you about those to japanese officials are signaling on background that the decision was compelled by the same concerns about the company's ties to chinese government and domestic cybersecurity but seem reluctant reluctant rather to openly state their case and risk further antagonize their increasingly powerful neighbors across the sea for more on the huawei situation we now go to canada where we are pleased to be joined by arctic correspondent alex mann hell of it you have been following this story and we'd like to bring it back steve to also alex us begin

with with you not only have foreign countries like japan weighed in now but also some foreign leaders justin trudeau the prime minister up there said he was aware of the arrest of the wild ways c.f.o. that it was going down what more do we know alex. a candidate was very instrumental in this. we know the main one joe she was travelling from hong kong to mexico had a layover in bed hoover and that's where she was arrested as trudeau said he was informed days ahead that this was going to happen but he's denying that the government had any involvement in this that it was a justice department thing according to trudeau the appropriate authorities took the decision in this case without any political involvement or interference so that's canada's story but there's a much bigger story here and i think one that's a lot more entertaining and really in the bigger scheme of things a lot more important is the fact that the national security adviser to donald trump john bolton knew that this was going to go down to he admitted it and basically he

this went down as president of china. we're having steak together in argentina at the g. twenty summit so bolton says he knew this was going to happen insiders are denying that donald trump knew anything about this but according to bolton and i think we all know this way that the united states have had their eye on the company for quite a while and he's one i want to see that this actually might come into play now in negotiations between china and the united states and with the tariffs that we've been talking about forever we know that within the next ninety days or so the decisions are supposed to be made to start scaling to play the arrest of this c.f.o. of huawei in canada now we know that the u.s. right now if they would like to see. extradited to the states right now this hearing is happening in vancouver and as it stands right now we're haven't heard anything about extradition yet. steve i want to ask you about this i mean it's so weird to me that you know that john bolton was actually there in the meeting with donald trump. and he knew this arrest was going down while they were making nice

that said i mean i think it's weird but that said is the media over blowing this somewhat i mean i heard one writer suggest today that perhaps u.s. corporate citizen u.s. citizens that are of corporations and in china should maybe watch out maybe they'll be detained is this much ado about nothing or is it really a serious foreign policy matter what do you think steve. well you know the obama administration went so far as to indict people in this in this kind of vein if you will but never never sought their arrest or extradition to the united states to actually stand trial because they feared the kind of retribution you're referring to that whether it's china or another country will just you know go to for tat and arrest somebody from the united states or united states company i think that risk is out there i think the fact that both the new shows a lot of. that i've been

a lot of guts let's put it that way a very very gutsy move on the part of the administration and it shows that they are serious that they are serious about what's going on with the chinese and their staff of intellectual property and their spying through electronics on the united states and other countries and of course we talked about how while way has been kicked out of new zealand and australia when it came to five g. and the united states is urging countries all over the world to do that so i think this is going to have a huge representations and i'm really surprised that the chinese haven't given us a stronger verbal reaction then they haven't really shocked when they said that thing yesterday that i thought was a little bit you know i think the word i used on the show was rich when they said it's a violation of human rights. really i don't have any standing in that regard but i wonder alex you know it sounds like the prime minister there sort of you don't went

back a little bit. no i didn't know about this this was a justice department i mean is he maybe trying to appease the chinese do we know anything more about whether or not she will actually be extradited to the us or is there some back and forth you know and again i don't make too much of it alex but justin trudeau and donald trump has had their own war of words in the past. well i mean in canada right now the conversation is how do we know that wally is spying here and basically the answer is no up to four g. technology a lot of the the people that were testing out the technology were based here in canada and they said that we have no proof five g. a different a different story simply because five g. would be much harder to tap into that to see if that actually there is some sort of spying element to it but coming down to a back to making what's happening here i mean this is this is business as usual yet sure i'm sure canada is trying to suck up a little bit more than usual to the states but this is something i think it's a procedure can it in the states have always from

a judicial perspective been very very close the interesting thing here is and as i mentioned the bail hearing is happening here one of the current attorneys are saying they do not want to allow men to have bailed because she is a flight risk and here's what the canadian attorney general is that is that that man is charged with conspiracy to defraud multiple international institutions each holding a maximum sentence of thirty years again you know let's whittle that down the fact of the matter this is all about iran and china doing business with iran so what does canada really have in this whole thing why are we getting into somebody else's business china has made one thing very clear and i think it's a good point the fact the matter is that the u.s. had sanctions against iran and it's not a security council or u.n. sanctions and what the u.s. wants to do well that's their business why does everybody else have to fall into line on the other hand when it comes to u.s. anxious canada we are we're related i mean where we're stuck today by they have to

each other any way that we turn it and so canada is going to play the u.s. game. you're probably right even with some name calling thank you so much both alex mahela bitch and steve malzberg thanks as ever great week in your new book and it's time now to squeeze in a quick break but hang here because when we return there is good news from chrysler and the car coach lauren fix will be with us to look at the auto industry from this year and with an eye toward two thousand and nineteen plus molly burroughs's back and tells us about some upstart start ups in the beauty industry which are challenging the status quo companies you're going to want to hear this and here are the numbers at the closing bell back in a flash. memory before a trade war leaves a hot war there's currency war plays

a trade war where in the current you are going on already with the china peg artificially low to get their exports to the us in a way to build their economy and then the u.s. it worker was losing their job but they were paying less for chinese made stuff and so there was this symbiotic relationship going on so if the question is who's going to be the twenty first century empire and who's going to lose it is going to be the u.s. or china my thought is going to be a coterminous and that both the u.s. and china are going to fall apart. is fine he will be missed out of need. in our eyes how good our group are you can get out you know which i mean. yes this time i didn't have. to employ them to go at the bridge. from which i got the room your brother the most a month ago so you do i mean look if you've got them for you the law has a funny but it was you don't love me when you. it out of order.

and right down the bank of uganda base walker chemical lies and as our business is going to go he would develop a new treatment there in ten minutes no mockers no that these industries out of a new thing you had to simply ignore your money that happens mother none of it even though. i may need all of them other than like me to the last name of this. post because i'm his son joe point spread political allegation that it's almost well meaning if any politician rick going to give any politician regardless of their beliefs can be labeled a populist isn't politics populism of some sort or another.

welcome back australian legislators have settled privacy at unsettled privacy advocates around the world and may have enormous lee complicated the dilemma facing telecom manufacturers by passing a law requiring companies to share encrypted messages with law enforcement more specifically the law seeks to circumvent what it's called into and encrypt. two the technologies used in well known apps such as signal telegram and what's app companies will also be required to actively develop tools to decrypt messages which are currently unreadable app users would not be informed of the snooping the law

enables fines of ten million australian dollars or seven point three million us dollars from non-compliant companies and fifty thousand aussie dollars or thirty six thousand us against individuals while the australian law stops well short of outright bans of technology in china russia and turkey major tech companies most notably apple have opposed the new law. and there is some employment news in the auto sector and this may surprise some of you steve was referring to an earlier chrysler auto me all the wheels says they will reopen get this reopen an assembly plant in the storied city of detroit michigan the mack avenue plant previously shuttered in two thousand and twelve or reportedly become a work place for four hundred new employees who will assemble sports utility vehicles bearing the jeep brand name the jeep brand is a standout performer for the company helping to post an eight percent increase in sales this year while the number of jobs is dwarfed by recently announced job cuts

from general motors and potentially from ford on the horizon the new the first new assembly line job to arrive in the symbolic heart of the u.s. auto industry at twenty seven years seems likely to provide an intangible but important r.l. boost in detroit and within the industry and joining us now to help us take a look back at the auto industry for two thousand and eighteen and two thousand and nineteen is our friend lauren fix the car coach lauren welcome back to the show we're glad to have you. thanks part as so what is the ultimate diagnosis lauren for the auto industry this year i mean overall was it successful or did the engine stall what do you make of it. well i don't think the engine started and we have to look at the numbers right now are about a little over seventeen million sales for light trucks and cars so that combination is still really good numbers and we've had some ups and downs in months and sometimes it's affected by weather or it's infective affected by incentives we're seeing some shifts some of them are pushed by government such as electric vehicles

on a global basis i was just talking to a friend of mine who works for navigon they do real solid numbers on what's going on in the industry and they're saying by the year twenty thirty we're not going to have a higher percentage than fifteen percent on a global basis for electric vehicles so that's all evie plugins and that's not a big percentage so those are still being available is lots of new products rolling out the electric vehicles but the take rate by consumers is very low right now it's about one point five percent we're seeing a big draw is in pickup trucks both chevy and ram are coming out with new vehicles our general motors product line and ford of course is producing diesel f one fifty s. now on the other side you're seeing s.u.v.s by literally every brand and a body year and a half ago we heard from f.c.a. chrysler saying we're going to cut back on cars build very specific high performance cars like hellcats and demons and things like that but we're going to look really focus on jeeps and s.u.v.s six months later ford said hey we're on it too we're going to have mustangs and focuses on the rest going to be

a few b.'s and trucks sales have increased interesting lee on the g.m. side they just came on board horrible timing at the l.a. auto show as we've discussed just as all journal automotive journals are in one location they announce we're going to start producing cars and we're just going to produce a few stray brands that has not helped them as their sales and s.u.v.s are a little soft i think they're going after make some massive shifts but overall big picture brands with the japanese koreans or whatever they're watching the sales of s.u.v.s increase and that's what consumers are buying and i don't think we're going to have a negative rate yet but it looks like we can can we can probably sustain around seventeen million deaf into the into twenty eighteen into twenty nineteen. some people working in you have to worry in this industry you know will there be that dirty r word recession and that all depends on a lot of factors but right now you have to kind of keep that in mind anyhow that's it's good business but the fact is consumers are buying cars and they want s.u.v.s and that's what they're buying. you know it reminds me of

a story we did earlier in the program about opec and trying to you know cut production i mean if prices went up to eighty dollars again like they hit whatever six weeks ago that could stop some of those s.u.v. purchasers no i don't want to get too much into these sort of ghost of christmas past but there were some bad things going on in the past your your acquaintance not friend carlos gone was arrested and it was announced today that nissan has a recall of some vehicles after employees said that they did improper test on the brake system i know your big break person there but do we see these sorts of problems going into twenty nine thousand what do you think about the future lauren well that's a quality control issue i mean you can't believe that somebody was actually know that honestly that they didn't do a brake test that's the that's a lower level problem that means engineering didn't do their job so i'm sure that the sign will straighten that out and as far as carlos go we don't know what the story is but amongst all of us out of journalists that talk without getting deep into the weeds we think this is a soft coup and they're just trying to get him out of nissan because he's getting

ready to retire and he was trying to merge way now and the nissan into one company and nissan didn't want that so whether it's true or not we still don't know we do know they are still holding him and a jail cell in japan which is not a place to be so we'll see what happens from that front but as far as nissan is a brand they're going to continue to push forward and bring out a new product we saw a lot of s.u.v.s and we'll see more of the treasury auto show just after the first of the year great lauren we sure appreciate you being with us all year maybe we'll have you one more time but i happy holidays to you we really love when you're on the program thanks so much lauren thanks so much appreciate it. the industry is big bucks in the u.s. alone it's fifty six billion dollars in market value and that market has been transforming as the industry stalwarts are being pushed aside by startups and

independent brands some with super celebrity names attached to them here to help us understand how the big bucks of beauty are making moves his molly barrows contributor at america's lawyer hey molly we're so glad to have you how lucrative is the beauty business overall exist or remotely lucrative it is one hot market fifty six billion in the u.s. alone and a couple of the companies that are the biggest in the beauty industry have the sales figures to prove it just the last couple months they've come out with their first quarter earnings and i'm talking about l m v h which is the french based beauty luxury goods company that owns a four a in their beauty chain that is around the united states they're already reporting one point or nine percent sustained growth just in the first quarter and their u.s. based competitor olt is already making oh my gosh they made almost six billion in sales last year they're reporting one point five billion for their first quarter

sales already and these two companies don't even compare to what amazon is making amazon is raking it in it's a sixteen billion dollar a year industry for amazon their first quarter earnings nine hundred fifty million so far this year it's the second most shop category on amazon so it's extremely lucrative and a lot of people are diving into this business park and why is that i mean what is what is the impetus behind tying the success of these companies. well it's so interesting you know there's more access for entrepreneurs' to design and develop and work with labs to make their own products and there's such and niche market when it comes to beauty so many of these independent entrepreneurs startups came from their own personal desire maybe they were dealing with their own special kind of needs with their skin care or whatever the cause may be they develop their own lines and they've taken off an extremely successful there is one woman who launched her own beauty business for just such a reason and at becoming so successful she sold it for millions and billions of

dollars ended up pocketing like four hundred fifty million became the forty first richest most wealthy woman in america so you have a number of these these new startups that are giving options and and women are loving it they're eating it out that's primarily the consumer base for these products and they just can't get enough of it. no you know this time of year the holiday time is always a time for good husbands and significant others to purchase a part of this market for their for their significant others are wiser but are there any signs after this year ends of the beauty business slowing down molly. you know not at all again these entrepreneur it's gangbusters for this business right now and there's such a lucrative market in part of the reason is because people have all these options and they're able to buy online used to be you have to you know perhaps your older consumers that relied on a land comb or an s a lot or used to be you'd have to go the department store to find those things and

you didn't have a lot of options besides them now with all these start ups and other products that are available they're also available online so women love to explore they like to shop they like to try these new things so there are so many options that are out there and that's really what's driving this red hot industry right now so a lot of these factors that went into this industry they're not uncommon they've driven the success in other sectors other business sectors as well but right now there is just no slowdown on the horizon it looks like the beauty business is going to be kick in for some time lots of investors are still willing to invest in these entrepreneurs bigger companies are buying some of these start up companies as well because they want to eliminate the competition so with so much business to be made as you can hear the numbers it's so lucrative they just don't see it slowing down anytime soon they don't know exactly what would cause the bottom to fall out but eventually it can't last forever molly we sure appreciate you dive it into this for us molly barrows contributor america's lawyer thanks very much for your time a great week and molly. you bart thanks so much. and that's it for

this time thanks for watching you can catch boom bust on youtube dot com slash boom bust arctic will see that time so long for now have a great weekend. the way to the united states is dangerous for most of the illegal immigrants. cause you're homeless but that's the root of sympathy i want to become lost and i want to ask some just about. many of them look for refuge in the so-called sentry sides of the drifter used to share information about undocumented migrants with federal authorities best person as bank of mom. policy to point out i've ended up my son i guess i'm in a lot of class and i want that. they had a lot of the options to stay in the country with donald trump in the white house.

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criminals and this should be false bill designed to take over you push us off the thread you'll find somebody number one plus you do i mean yeah i mean i mean political pressure on the bill do i need to know through security jenison knows when to pull your bundled up business models used by american corporations jackals was incomplete please soul don't go to mental disease as you use the controls on the scene and the solution. lies up in association. i noticed when he saw some dogs it is just me of deleting data and investigative documentary. ghost war on oxy.

but i know that that nothing will. come up that i'm not out yet but i won't load the time i got for not. last. standing with a yellow vests of students across france it take to the streets over education reforms that follows weeks of protest against fuel price increases which forced a government u. turn.