i mean we can see this is an island when i came what. i. really meant. this is not the first time something like this is happening i don't think there's enough resistance from the representatives of us overseas territories this is just a direct suppression of the traditions the common people enjoy here in puerto rico question he could does not have any voting members in the u.s. congress we have no one who can defend the interests of the island the government to play a trick of his approved almost no bills to defend this industry on the island that's why we're seeing an ever growing dependence of the island on the united states and i know that american streets like to call it this is nothing less than a legal dictatorship imposed by the us congress on question reka this tradition of court fighting has existed since the sixteenth century people of puerto rico will continue stealers one way or another legitimately. that's a wrap for this hour here on international plenty more of your stuff today

worldwide headlines still to come your way at the top of the hour hope you can join us. president trump indeed has has he's way of communicating but you have to hand it to him but sometimes it's better to try and shake up the established way of doing things in order to come to a different conclusion i think what's worrying is this focus on the you know fate news and junk news because one of the foundations of a democracy has to be the trust in news facts and information and if that trust is fundamentally shaken and the independent media criticized then i think that that's a problem from a communications perspective. this

is boom bust broadcasting a well known world and covering the world of business and finance and the impact on all of us i'm bart chilton of washington thank you so much for joining we are really pleased that you're on board coming up today johnson and johnson the old school u.s. based multinational specializing in medical devices pharmaceuticals and consumer packaged goods is in the hot seat as the report says asbestos was contained in baby powder the stock has dropped like a stone was almost the c.e.o. of the stocks who are standing by to discuss that and other markets it will do our global market wrap up for the week are there any markets on the planet which are up for the year i'll tell you plus a. oil prices about half of what some thought they would be only half

a year ago which was a winner and loser nation and company order a simpler trading will be here and tell us and later the media merry go round continues to spin as the us federal communications commission issues a proposal to stop the merger madness and there's new media news about what people are watching and professorial lecture at american university margot suskind conservative commentator the most for us will join us for that conversation all that directly ahead but first we have some headlines ready to go. the market moving influence of china leads our global report today as the latest official statistics show a significant slowdown in growth for the month of november the overall growth rate for november was poor point three percent the lowest for china since may of two thousand and three at the same time retail sales growth fell to eight point one percent from eight point six percent in october similar trends prevailed cross

almost all sectors in the chinese economy with a rule proving exception in fists fixed asset investments seventy boom busters may recall that in the third quarter chinese growth was six point five percent a number that was almost any other nation would envy and that number was the ten year low for china taken together and in context of the lingering us china trade fight that figures suggest twenty million teen will be a tough year for the globalized economy. meanwhile china is moving to deescalate trade tensions with the united states by suspending a retail atory twenty five percent increase in tariffs on imported u.s. autos as of january first the chinese finance ministry says tariff rates will fall back to the status quo ante of fifteen percent and the suspension of the tariff increase will last for three months meanwhile the ninety day deadline for the u.s. and china to reach a broad agreement on new trade policies a deadline few experts think can be met is march first. and speaking of autos and

signs of a slowdown in china the chinese automobile association manufacturers reported on thursday the auto sales in china fell by fourteen percent last month in november compared to the same time last year. and on yet another front of the u.s. china trade battle alcohol famously of cooper teet cupertino california says they will update i phone software to address patent infringement complaints from qualcomm on monday qualcomm tired of their chinese win against apple which resulted in a temporary sales ban on some i phone models as a reported the temporary been notably excludes the newest models the x. s. and x r which were introduced after qualcomm's case was filed apple says their software updates will fully resolve what they characterize as the minor functionality of two patents that issue in the case the software update may not

satisfy qualcomm however which on thursday went back to court in china to petition for an extension of the i phone sales ban to the excess n x are models both companies seem want to clear a path back into court and more litigation. if i noted at the top of the program johnson and johnson j.n.j. that old school u.s. based multinational specializing of medical devices pharmaceuticals and consumer packaged goods they are in the hot seat a report out today from reuters says that a specialist was contained in baby powder the stock has dropped like a stone here discusses bliss the arm of the c.e.o. of the stocks wish him melissa what do we know about this and is the stock still tanking i think i saw it earlier today it may have dropped like fifteen bucks from like one forty eight to one thirty three something like that and it happened like a heart beat this morning what's the latest. well as you know how action selling

comes in really quickly and there was very negative news out on this stock although i have to say the chart looks really good before today now it doesn't look so hot it close to very weak and i wouldn't say this is going to recover necessarily anytime soon it's unfortunate it was just bad news that came out and once the selling started to come in it just there was no stopping it. you know i looked at there like a year to date and they were up pretty high in november of just south of i think a one fifty which is about where they were the beginning of the week so this this fall that they took was a big dive but i want to ask you about another one that's actually two here that i think are really interesting we spoke about an earlier cosco which had their earnings report earlier today got some not great numbers and some not great results in the market tell us about costco ballista i know cosco is another one that tank today that literally fell off a cliff last night i had earnings last night it could have support of itself today

into the open but it didn't do it and once cosco started falling it fell cosco fell more than ten dollars today from the open that is a dramatic move for stocks like that and before today cost to really look like a nice buy it was holding on top in fact cosco looks stronger than the market before today's trading again cosco is still in the not trying to after today but lots of selling and cosco lots of selling on johnson and johnson lots of selling all over the place really today in the market and adobe it's another one that reported may also drop a little bit tell us about adobe melissa adobe fell two and again that dragged down that whole sector and that sector hasn't been doing good for the last couple of months as well with the market but adobe trying to hang on in the first five fifteen minutes of the day and then once the selling started to come in that it just fell these all of these symbols that we just discussed all these stocks today you could have shorted and made money and you could have made a lot of money actually yeah well you know so sometimes people don't think about

particular this. really average investors but you know shorting a stock is certainly a way to way to go and as you say people could make some money there's been this talk about a santa claus rally but given the three stocks we've talked about today johnson and johnson and cosco and adobe all on a downward trend you know i wonder if there's any good news out there melissa christmas or not what do you think. well i think right now the market is in this holding pattern where it really hasn't broken totally lower however we haven't seen enough buying come in to really bring in the power players in the market to lift people in deciding that regular investors that they want to go full on into the market were getting into the very late parts of the year and as you know sometimes around the holiday trading the slow people are off for the holiday but i will say this i don't think the market makes new highs before the end the year i said that earlier in the month when we were discussing i do believe that the market will hold the up trend barring any wars however we got down this morning and we couldn't hold

it up today and we fell today in the market in the dow and the s. and p. and that leaves us going into the better part of the last part of the month now the next week will be one of the most biggest last trading weeks until we get into the end of the year and i don't know if the market is going to be able to hold on i think that it will but it's right there at that what do i mean i mean that some buying house that came into the market so i think the idea of a santa claus rally now maybe something called a new year's rally i believe the market rallies at the very tail end of the year could be any time between monday and the very last trading day of the year that the market is going to hang on and rally and take us into two thousand one thousand because without some good news here it's going to be very difficult for the market to turn around now we do have the fed meeting next week we're going to find out if the fed is really going to end up raising rates again one more time this year or if they're going to hold off but i will say this if they hold off i think the market will react positively and that could bring in some buyers which the market is

desperately needing right now at this point yeah well i wouldn't bet on them holding off but who knows what i don't know i'm never them a regulator who knows melissa thank you so much for being with us we want to have you back before the end of the year to talk about what you see for twenty nine t. we sure appreciate your time let's see all this dog thanks for saying. it's time for a weekly global market wrap up we love doing this and this is. great time near the end of the year when we can also look at the year to date market reaction how they've done you know last year twenty seventeen was gangbusters almost all around the world not so much this year and we start as we like to do in the moscow stock exchange which was actually up for the year but are actually up this week down through the year and in shanghai up but also down for the years the nikkei two twenty five in tokyo was up but down through the years and also up and down was the hang seng in hong kong but the a.s.x. the australian stock exchange one hundred down down under and also down on the year

and moving to india to the sensex in mumbai at the bombay stock exchange up this week and up for the year they got a great economy go in there and india as we talk about all the time on the program and that in mumbai proves that down in south africa in cape town the all shares the all shares his is actually up this week but down for the year and moving to europe at the cac forty in france up but also down for the year and the dax in frankfurt and germany that's down on the weekend also down on the year moving to london the footsie the footsie is up but also down on the are up for the week down on the year down to south america the coal cap in colombia is up but also that down again on the year and the i will best always talk about brazil several times and down this week but up on the year for all those positive signs about mr balls to narrow the

newly elected president and down down down day in north america at the toronto stock exchange which is also down on the year nasdaq down this week by just a little bit but up just a little bit nasdaq up just a little bit on the year and the new york stock exchange down and down the interesting thing if we look at what's going on across the board. all these extra exchange except for a few spots there's really only three the sun sects in india the best but in brazil just barely those two just barely up on the year and nasdaq as i say but just by the chin of their chinny chin chin time now to squeeze in a quick pause for the promotional cause but hang here because when we return with oil prices about half of what some want they would be only half a year ago which are the winner and loser nations companies horner of simpler trading will tell us and as the media merry go round continues to spin the u.s.

credit communications commission crisis the media merger of marvel suspects and steve malzberg will join us for that conversation and as we go to break here at the daily new york at the closing bell will be back in a flash. share that's where the playing field the battlefield of the furniture center and we're at war right now i mean so whether you know it trickles down to bullets and bombs and

guns and stuff i mean that's immaterial we're already out war right now it's being played out in our collective unconscious if you wake up in the morning and you feel it was massive headache because china and america are at that war in your mind. there's a saying. there on the cheap. and then we went through all of the countries don't let the idea of the right things go through this country he said. to the best. in this country. this is what we don't understand how we have to live in such countries. that are sent to the mines at the same time. there was a mountain into. the saloon for them similar to similar john

a good one the one that i guess about the us if you feel. the minutes of on will or not they got a good mood believe me again the melody with the phone the cup was with the flame good would come back to the place tory it was to see. the sky. and catching up with central europe hungary was rocked by protests this week over a new law that opponent denounces slave labor law the law would allow employers to demand up to four hundred hours of overtime from workers up from two hundred fifty hours the law also allows bosses to avoid paying overtime wages up to three years

the controversial bill passed by the hungarian parliament dominated by prime minister viktor or bombs dess party on wednesday while thousands of protesters were confronted by police outside the building opponents of the labor law are calling for more protests a night they will again be joined by opponents of a second law passed this week yet this would divert cases involving. elections and public corruption to do judges appointed by or a bond's justice minister yuck. in the fast moving us food delivery sector starbucks is embarking on a new project with over while whole foods and insta cart are abandoning their partnership starbucks of seattle washington says they will partner with hoover to provide delivery services for thirty five hundred u.s. door locations out of a total of fourteen thousand starting early next year a similar initiative was recently announced for japan and starbucks also aspires to

double the store locations in china over the next four years and did an unsurprising shift insta current c.e.o. announced the end of their delivery partnership with whole foods whole foods as you probably know is now owned by amazon and was amazon fresh subsidiary competes with insta card. and the end of their relationship is expected to put about fourteen hundred of is to cart seventy thousand workers out of a job. and there's good news for former an aspiring students as u.s. education secretary betsy the boss has been forced by a court to dismiss one hundred fifty million dollars worth of student debt under mr voss the education department fought a rule and acted under the obama administration which allowed debt relief for students who were attending discredited for profit colleges on friday ms de vos finally deferred to a september court ruling requiring the apartment to dismiss the debt in november

a report by a group of student debt crisis estimated a total u.s. student loan debt of one point five trillion dollars the group said that amount had tripled from two thousand and five. and it was not too long ago that the major traders thought oil prices could reach one hundred dollars per barrel well now prices are only about half of that just north of fifty bucks i think we just reported it was fifty one zero one just a moment ago so which nations and companies will be the winners and which will be the losers harner of simpler trading joins us to tell us thank you for being with us we sure appreciate it at the end of the week on friday so let's start with the winners which nations which companies might benefit the most as far as winners go and great to be back we're talking about the u.s. japan china india western europe in any way that's going to benefit from those lower prices but i think it's a double edged sword and why is

a double edged sword because there could be some losers obviously i mean some of the big oil producers i assume the saudis and russia and to some extent i guess some of the energy companies in the u.s. consumers will benefit in the u.s. but explain. so the don't lead sort is really could be coming from the fact that you know if you backtrack to why well is heading down why we actually have. the. opec themselves they never want to actually say that demand is heading lower and that's what we're looking at twenty eight i mean lower demand and i think we're seeing a lot of the global economic slowdown is the cause of it so of course you know kuwait iraq saudi arabia venezuela you know just go down the list of these opec members russia they're going to be on the losing end of this but i think everybody actually loses because the reason or oil is heading down is we have less demand that less demand is coming from this global economic slowdown and i mean when you think about supply and demand as we like to do i mean you know the supply we know

a little bit about that because of this recent cutback from opec and russia so we sort of know the numbers there and the numbers on demand are really sort of expectations from as you say you know i and others going forward so unless something changes in the economy those are all pretty much based upon the economy right. absolutely and i think when opec themselves are admitting that they're looking at about one point four million barrels per day demand and twenty nine thousand they're also looking to reduce production going into twenty nineteen we're also hearing the saudis are going to be exporting less oil to the u.s. so this story just keeps getting better and better when you think about all the twists and turns but ultimately we're still going to be looking at oil probably breaking the fifty dollar threshold as we go into next year i want to ask you a question that is sort of a bizarre question if you go back to twenty sixteen the first time maybe i'm wrong

correct me if i'm wrong that russia joined in this big production cut with opec led by the saudis it really didn't have that much of an impact it appeared to me until this last year and you know that was a couple years away so whether or not that was really that agreement to cut production or not my question is did it matter then and will the production cut matter now. that's a great thing to cite i love where you're coming from because what we're talking about is this opec plus reality which is which is russia and what was interesting about what happened before that production cut is what happened with the production leading into the reduction that's a rhyme right there we saw them going to historical highs so it's almost like taking your car to redline and then getting off the gas but they were at historical production output before they actually reduced their production and that i think is a big part of why that really did not have the effect to be on the psychology in

the expectation when you look at supply and demand in a look at the build ups we continue to see month after month it's tough to say it was very very effective at all and you know i we were out of time but when you said they were that all time high back then that was that all time high when i ran was at a high end just beginning to cut back because of those sanctions so very interesting stuff roger you on are conscious of futures expert at simpler trading thank you have a great weekend. two days ago the federal communications commission voted to take a new look at media ownership rules raising the possibility that an existing regulation which prevents the merger of any of these so-called big four broadcasters could be overturned opening the door for c.b.s. n.b.c. a.b.c. n fox to merge with one another the f.c.c.

will now look at comments on the role they plan to look at others as well including one that limits the number of t.v. and radio stations that one company can own in a single market this news comes as nielsen the company that monitors a viewing and listening habits of millions of americans is out with their latest survey on how we use media breaking it all down by platform demographic and time spent in gauged in media outlets here discusses margot professorial lecture at american university and conservative commentator steve malzberg thank you both for being here i'm so excited to talk about this margot how significant would it be if the f.c.c. doesn't fact overturn the big for allowing c.b.s. n.b.c. a.b.c. and fox to merge with each other listen ask anybody who's flown coach in the last ten years how consolidation has affected their lives no one is going to tell you that they have better details better seats more space media consolidation is

essentially the same thing it's not going to help the consumer at all so if the f.c.c. overturns this decades old rule what you're going to see is more conglomerate control of media less diversity of viewpoints and fewer voices telling key stories to americans hey steve you look at the media all the time i mean margo teaches this stuff for heaven's sakes but you're a political guy also why do you think that the f.c.c. is f.c.c. has chosen this time to review this. well congressional mandate is they have to look at these rules every four years and usually it's just a rubber stamp but this is a republican controlled f.c.c. three to one republican. rule as commissioner and last year they were very active they got rid of a rule that said you can't own a newspaper at a t.v. station in the same city they also relaxed a rule that said you can't go to local stations in the same market i should say mark in that city and so thereafter if they're not just sitting on their hands that

they see this is a great opportunity now why now as far as this big four rule of law is asking the question hey this is a nine hundred forty s. rule the marketplace is changing every single day in the communications world in the t.v. world is this still the best remedy is this still the best way to assure all the things the professor says we may lose and what about antitrust laws don't they cover things like this do we need this rule in place right now so they're also good taking a look at some other rules so i think they're going to be very active and there's a good chance that this rule might go away mark what about that you know steve mentioned and i trust you know in my old area finance i want regulations to protect consumers but i mean look if consumers are getting a better deal and more options maybe that's not a bad thing what are your thoughts about this in general this media consolidation listen if you've got a handful of companies that control ninety percent of what we watch read and hear

that's a concern it's a concern now if you shrink that number from four from five to four i think what you're going to see is that it can't be a better win for consumers remember that when we talk about the big four a.b.c. c.b.s. n.b.c. and fox those are all own by major media conglomerates withholdings and other areas so we have to be concerned about this this you know about what the f.c.c. is doing and i'd like to remind steve too that the f.c.c. is. not a de facto arm of industry it's nan to help consumers and to help to help those help americans who own the public broadcast spectrum it's meant to help american consumers get better access to information news that they need to govern themselves in a democracy we need we need all those voices for sure and steve tell us about this nielsen report this total audience report has a lot of information just got a couple of minutes but break it down for us if you can yeah well we they found

that we watch or participate in media ten and a half hours a day and that's television digital you name it streaming everything and that's a great chart and basically. when you look at who watches the most t.v. t.v. rules that those great boxes on the bottom that's all demographic age groups and that's the watching of television so t.v. still rules the group that watches the most t.v. of the fifty to sixty year old crowd fifty fifty to sixty four they watch over five and a half hours the one group that watches not only the the least amount but also where t.v. doesn't dominate their media exposure every day in the media usage is the gate hundred thirty four year old crowd and as far as this goes back to our previous topic cord cutting you know these networks have to compete against all kinds of changes as we alluded to cord cutting their traditional cables going byebye still seventy seven percent of people have traditional cable that's down from eighty one percent a year ago so it's dropping but not in the i don't alarm in lee fast rate we are

out of time and i'm sorry about that because i know we could continue this for another whole program we so much appreciate you both being with us a conservative t.v. and radio commentator steve and margot sus go professorial lecture at american university thank you both have a great weekend guys thanks thanks bart. and that is it for this time thank you for being with us you can catch boom bust on you tube dot com slash boom bust r t so long for now. see you next time. if we have a new trade arrangements with china that may build

a new foundation for relations i think broadly the there's of us has a problem in accepting the rise of china no matter what they do. subscribe to rep. him for just twelve euros fifty a month. palestinian teenager is killed and dozens of other protesters are injured during clashes with israeli soldiers in the west bank and gaza.

france's yellow fast movement.