covering the world of business and finance and the impact upon all of us i'm mark chilton in the belly of the beast washington d.c. we're glad you're with us thanks for joining and this is fun we're going to a great show for you coming up today amazon has announced that it will cancel its plans for the age huge issue in new york city after pages facing sweeping opposition to break down the phase those big bail in a few moments plus if you think steel is a portal to consumers still supported consumers economist we're here i want to hear this what we hear for you on iron ore prices really amazing they seated off around the world and we'll tell you why those numbers matter to forward the bubble trading will join us for a deeper dig and finally discuss the many uses from drones but today one zoom in on the media and other businesses which are using drones to give us the story from the skies on cook's break it all down for all that directly ahead but first let's get some headlines let's go to. the future of the internet in india leads our globe

report today is the government of prime minister narendra modi proposes what many are calling a chinese model of censorship the rules go into effect today after the official comment period expired and will require internet service providers to actively prevent the posting of unlawful information or content and empower the indian government to order the removal of online content they judged to be hate speech libel or fraudulent complaints from the indian law enforcement would require internet companies to disable related accounts within twenty four hours as well as reporting the source and path of the content to law enforcement within seventy two hours. and speaking of china vice premier who walk canceled a round of trade talks with the united kingdom that has been scheduled for this week after the u.k.'s defense secretary suggested move to an aircraft carrier through the south china sea earlier this week defense secretary gavin williamson gave. speech to the royal united services institute in which he said the queen

elizabeth aircraft carrier which is now being built will sail through the touchy territory in twenty twenty one mr williamson's reportedly rattled the cabinet colleagues in the u.k. as well as the chinese trade diplomats with the speech in which he also said quote brecht's it has brought us to a great moment in history when we must strengthen our global presence and hance our lethality and increase our mass the road deprives chancellor of the exchange or philip hammond of two memorandum of understanding he expected to finalize this week which would have provided some much needed good news as breck's it approaches the news comes a day after news that the continued tariffs on u.k. steel imports to the united states should not only be continued but increased at the behest of u.s. steel manufacturers not a good couple of trade related days for the u.k. . and we now get an update on the upstart tesla are they the safety of cars around

as a company claims for more we go to los angeles and a touch of sweet. only at least ten level have flying cars but now it will be fifty and it will drive fifty it's coming into question just as the website describes its model acts as the safest quickest and most capable sport utility vehicle in history and with its falcon wing doors and its panoramic view going from zero to sixty mph in only two point nine seconds there's no question it's a highly desirable s.u.v. but this week a new jersey man says his mark carter says while his hands were on the steering wheel the car misread the lines on the road sending him into the median in a statement a tesla spokesperson says since we launched the on a pilot in two thousand and fifteen we are not aware of a single instance in which auto pilot refused to disengage according to the tesla vehicle safety report listed on its website the electric car company claims their vehicles are the safest cars in the world and that more than one billion have been

driven with autopilot disengaged and the definition of autonomy is being able to drive with your feet off the pedal and hands off the steering wheel something not all drivers believe is necessary when using the technology if i want to stall the autonomous driving and if i don't want to be in control of the car anymore what i first need to do is to pull of this leave a package like sorry i'm all that does is it takes control of the head always puts in the past tesla c.e.o. elon musk has admitted the autopilot technology is not one hundred percent perfect nothing in the real world is perfect. but i do think that long term it can reduce accidents wife actress head but now there's been another concern about the auto pilot feature this time with the model three s overseas the i know pilot feature for the car hasn't been approved by e.u. standards yet in europe test the already sells its model s. and model x. in europe and norway is reportedly the company's largest market outside the u.s.

electric cars impression. internationally expression in europe and china is of growing importance expression after model three sales decline in the u.s. this past january after federal incentives were cut in half. the massive to cut a airbag recall that started back in two thousand and one is still impacting a handful of car companies including tesla going to the u.s. national highway traffic safety administration more than fifty million inflators have been recalled about twenty seven million have been replaced meaning that another twenty three million still need replacement as of now more than sixty eight thousand model as vehicles are being recalled despite all the controversy that tesla has seen in the past year the company is still doing quite well the model three rings the top five the u.s. congress and the model as to be seven percent of sales and twenty that's twice as many as the mercedes s. class in los angeles the harshest suites are to. hold on to that on broad didn't

shave a hot news in the u.s. on retail sales today they fell one point two percent in december which makes the month the largest drop largest single month drop since the great recession since september of two thousand and nine expectations were for sales to be flat but some are saying the bottom has dropped out that said retailers did face many uncertainties in december including the partial government shutdown we spoke about on the program and what was a mini market meltdown amidst talks of an oncoming recession combined with a pretty poor weather by the way while we were cautious not to read too much into the gory every one of the retail sales categories dropped gasoline sales by the way being the biggest bust down point five five point one percent and by the way those gasoline sales figures some of those are down in particular because the price of oil as we talk about on the program all the time is significantly down the figures will weigh down the u.s.

gross domestic product numbers which are due out in two weeks on january twenty eighth. and speaking of retail the biggest retailer in the world has made a major decision today amazon has canceled plans to build a corporate campus in new york city the company had planned to build an expansive headquarters in long island queens in exchange for three billion dollars in state and city incentives while the deal had encountered some local opposition the new headquarters would have produced more than twenty five thousand new jobs in a statement the company said quote after much thought and deliberation we decided to move forward with our plans to build held quarters for amazon and we decided to stop our headquarters in long island queens for amazon the commitment to build a new headquarters requires positive collaborative relationship with state and local elected officials who will be supportive over the longer term while polls show that seventy percent of new yorkers support our plans and investment a number of state local politicians have made it clear that they oppose our presence and will not work with us to build the type of relationship that we are

required to go forward with the project and we have many others had in vision in long island city and here discuss are conservative commentator steve malzberg an arctic correspondent alex mahela bitch a welcome to you both as always stephen a start with you i mean this was such a great get away from where we sit in d.c. but queens was going to get a big deal that is it must be disappointing for a lot of those in new york who work to bring the thing home right. absolutely and you mentioned seventy percent support from the public they wanted the headquarters here and you know governor mary governor a cuomo andrew cuomo of new york state and mayor bill de blasio of new york said they're to get this deal done and they got the deal done and then of course they face a lot of pushback from city council and others who said well we weren't involved but you know cuomo has called this when last friday's report came out the

washington post saying that amazon might pull out he said if they do that it's going to be political malpractise on the part of those politicians that drove them away from the deal he's blaming the politicians who have spoken out against this deal for driving amazon away he went so far as to say i'll change my name to to advise on cuomo if i have to to keep them here but it wasn't enough bill de blasio on the other hand the mayor of new york city today is taking a slightly different tack he's going after amazon saying well if they don't want to be here if they're not happy or that you know we don't want to buy it why is as the statement from amazon read it was really outspoken political opposition that drove the matter you can't be here when the the legislative bodies that run everything don't want you here and you know it be they were going to get like twenty seven billion dollars in revenue over a bunch of years so that the three billion i mean you do the math and it seems like boy what it what a deal hey alex i want to ask you this competition in canada toronto where you are

was one of the finalists i mean it was a big deal what do you think the company is going to do now to to those the those that are were just beyond the bubble i don't for a toronto was one but i hope they didn't say anything bad might amazon end up choosing them to what we expect. well what amazon's saying right now is that they're not looking for a second location anymore for the h q two as they called it that they are going to keep working on their voyage of virginia facility and there's really no word if they're going to expand maybe there because of the need to have more space i guess if you're going to lose a whole headquarters in new york you might want to grow the operation that you have or the something that you're building in virginia but there's no word of that either they're saying they got to keep working on that they have a another facility that they're working on in nashville and as they move forward in you know in new york and still in there it's in the mix if you look at new york right now amazon employs five thousand people there is staten island brooklyn and manhattan facilities so there's

a ready people employed there it's just not going to be that what everybody was hoping for obviously with the h e two search and you know as you remember a lot of cities were included in that including toronto like you said you know it's not good to kind of turn your back on amazon and toronto didn't do that in toronto after all was said and done and we were chosen the mare came out and said this has been great for us because now the world sees us as attack hub as one of the great tech cities in this world so the marketing was. it was worth it in the bar that's the bottom line so what is amazon going to do we don't know if this h q two thing is ever going to happen again but as it stands right now they're going to focus on the facilities that they have and they have throughout canada and the states there's already seventeen corporate offices and tech hubs so there's a lot going on. two things one just a point of reference you talk about they might expand the arlington just over the river here from where i'm standing not really possible it's an old brownfields

there there's not much room and it's also in the flight path from d.c. national airport so they can't go up either so there's really no room in an arlington the amateur architect says it doesn't seem like a mistake let me ask you i mean this just seems like such a political curfuffle did andrew cuomo the governor and mayor de blasio new york did they make a mistake by not bringing the locals into this earlier because boy what a mess. yes i think they made a big mistake and one of the outcries in the opposition for the city council is we didn't know anything about this the legislature the state legislature we were involved in this so maybe if they had brought in at least top representatives from the city council and from the legislative the senate and the assembly maybe it would have been better but i've got to tell you i think a lot of this is concerned about pricing out of low income residents from long island city with property values going up and no union labor being used to amazon doesn't believe in and right on down the line but you know new york's doesn't have

a wal-mart in new york city doesn't have a wal-mart because it's an evil corporation and i hate to make this political but the star of the day they always see. cortez tweeted out that this whole amazon deal was a creepy overreach of one of the world's biggest corporations and she was dead set against letting this deal happen she represents part of queens so that's the political fight that amazon had to deal with as well that they're evil because they're a big company forget the fact that we're going to bring twenty thousand twenty five thousand jobs at over one hundred thirty thousand a day at it and twenty twenty five billion dollars in revenue. great discussion thank you so much steve malzberg announcement which thanks guys and your bar. and last time on the program we spoke about the ins to the institutional bill liddy of crypto currencies and how major institutions are beginning to recognize the technology well now it's official j.p.

morgan has announced that they they will be the first american bank to plug into crypto currencies for business transactions the token will unimaginatively be called the g.p.m. coin and the bank will begin using it gradually in trials to move more than six trillion dollars of daily transactions as a note j.p. morgan c.e.o. jamie dimon famously called bitcoin a fraud back in two thousand and seventeen. just say and time now for a quick break but hang here because when we return if you think steel is important at consumers or the economy you're going to want to hear what we have for you on iron ore prices they've heated up i will tell you why those numbers matter todd bubble or what the public trading will join us to deeper to dig deeper plus holon cook is back to tell us how drones are being used in the industry with a focus on media he will not be reporting from the r.t. america news choppers and as we go to break here the numbers at the closing bell for be back in

a flash. from the us needs to explain why is the keep the slimes you get what. you see in the film was not just because the most good movie didn't. really believe . you. you know you've seen them. you know what.

you know world's big partners through a 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 smart we need to stop slamming the door on the bad and shouting past each other it's time for critical thinking it's time. to fight for the middle for the troops the time is now for watching closely watching the hawks. incontrovertibly evidence that we're being visited and frankly everyone in very high ranking classified projects knows this the public hasn't been told because they've been wanting to keep the secret for reasons of technology and the macroeconomic have heard our system.

just listen. to him without. my eyes known. he didn't do to please his. pump. pump to pump him. welcome back turning to the battle over control of venezuela board of directors at the venezuelan state oil company paid a vespa appointing a board to ostensibly run the country after the into submitted overthrow president doro eslick regarding that regime change operation the wall street journal reports

that mr good go let his u.s. sponsors to believe that mr maher dural could be deposed within twenty four hours of mr goodell's self designation as presidents three weeks later well not so much even after the endorsement of mr goodnow by the u.s. the u.k. and several other governments. and speaking of energy bottlenecks in the southern hemisphere we recently mention the troubles of south africa's. state electric utility eskom well now the nation's experience at least four days of rolling blackouts engineered by eskom in order to somehow meet demand while staving off a collapse of the entire grid the move was taken on sunday and reportedly is officially termed a stage for a load shedding what a term and the power crisis reportedly has today even as the political debate remains hot earlier today president ramaphosa told the south african parliament committed to breaking up eskom a move which he denied as a prelude to

a feared privatization it's unclear how that would work out. and to it turning to the international dirty money beat we told you about the european commission's report decision to add saudi arabia to a list of nations accused of failing to take action to prevent financial crimes well now the commission has raised even more are in washington by adding the u.s. territories four of them to the list american samoa guam the u.s. virgin islands and puerto rico all officially unincorporated terry is territories of the states they were added to the money laundering blacklist for failing to meet commissions the commission standards of due diligence on financial crime alongside countries including north korea libya and afghanistan what a group you nations now have one month to endure to reject the commission's designations unless they vote for a second month of deliberation. and if you think steel is important to you to consumers to economies you know you have a car you drink beer of sup with like that listen to this we told you about that

devastating dam disaster in brazil which burst on january twenty fifth i think it was took the lives of one hundred fifty people probably more there's one hundred eighty still missing well the dam was located at a site of an iron ore mine operated by the largest iron ore company in the world the way the company subsequently announced it was decommissioning ten additional dams in the wake of the disaster well now the global price of iron ore is being impacted in a big way here discusses todd bubba horowitz of baba trading who comes to us from chicago and todd welcome back thanks for being with us. great to be with you bart ok so let's start as a refresher iron ore make steel why is it such a hot commodity why is it so important. well i mean it is what goes into making steel and of course when you start to limit production and you don't have enough to produce to make this deal it's going to have a a an effect going forward and everybody on the way to get this deal so it's the

input items are flowing right now and that could create a problem which we've seen that in the price of iron ore bias of iron ore when is was from a consolidated range around the seventy dollars level all of over one hundred now we have seen a little bit of a pullback the last few days but of course any time was a shortage of one of the input components that you need it's going to create higher prices and it could certainly affect the prices still going forward so any of the you know steels that input for so many things you know autos is the key one that we think about but so many things all over the world and you know these markets i mean there is markets not just where you are chicago but they're in singapore they're throughout asia or hong kong and the prices are going up all over the world and they're impacting other areas of the world in particular i think australia is really feeling it they also produce a lot of this but how do you think this ultimately could impact consumers and markets. i think it may i think if it continues now remember there is not

a real shortage of iron ore in general i mean there's a lot of countries that produce iron ore russia china chant canada so there's a lot of places to get it but initially the initial impact could raise the price of automobiles anything that has steel into it maybe it will raise the price of the troubles of open steel again all of these things can be affected because again when the inputs become more expensive it all the sudden becomes a problem though i don't think i think it was more of a reaction bird i think that this is one of those quick spike fears kind of like go . you see in oil when opec used to hold back our oil and prices would spike here i think this is more like that you know iron ore itself is not a lick a real liquid market that is traded it's more controlled by by the users versus the actual market so i think this will probably pass and because there is players why but initially we might see some higher prices of course we all know that

a lot of manufacturers like to take advantage of the situation and raise their prices anyways absolutely hey todd just real quickly a little bit of time but i mean so you say is that there is limited liquidity there so we don't have for example the high frequency traders and the iron ore market and are we talking about like a dozen or so really key participants. i think that's probably about right or maybe a little bit less but when you when you look at the actual market from a trader standpoint there's no liquidity no no individual person could make a living or make money trying to trade that market it's too tightly held and there is no real no liquidity so again that's really work comes down to but that's we did see the spike in prices it's kind of summer one more great example natural gas about four weeks ago when we had that cold snap and there was not enough supply at the time although we have plenty supply here there was another time so prices spiked and then it fell back down again todd we love having you on we love having a real chicago trader and i mean i miss talking to guys like you and you're one of the best hot horwitz of chief bratton just at bubba trading thank you. thank you so

much every day. look up in the sky it's a bird it's a point it's eyewitness news drones have replaced helicopters as televisions go to iran this guy newsgathering tool r.t. america's big picture host bettered media consultant reza tech plus holland cook says that just one way industry is turning what had been a toy into a tool in the media another place he joins us now to tell us about it opined last month of the massive mind boggling consumer electronics show in vegas drones were everywhere and this is big business the consumer technology association projecting a b. billion dollars in sales in the usa this year and if you're really want to sound like a nerd call them you a s unmanned aircraft systems and they take us places man would not want to fly like overture noble just days after that two thousand and fourteen

nuclear meltdown there and more recently drone footage captured the hurricane hundreds or just a couple thousand dollars is exponentially more cost effective than the way t.v. news had been renting elica so what are the other sort of notable industries where drones are really being used to economic benefit of the sectors real estate agents love them and not just for the sweeping aerial shots of listed properties some agents are using compact drones indoors to offer online video tours that will entice would be home buyers with a better look than the drive by on open house day drones monitor oil pipelines and transmission cables and farmers use them to monitor crops and drones can be equipped to spray fertilizer and pesticides or water for several years now drones have delivered medication and other vital supplies to remote areas in developing countries and now business news daily reports that in reno nevada drones are gay.

delivered defibrillators via fed ex in response to nine one one calls so bystanders can help before an ambulance can arrive and a north carolina life saving blood will be delivered by drones but we're not yet having pizza delivered by drone not yet and i know that a lot of places like d.c. have banned them in the u.k. at stansted airport they had the drone flying there and they wondered if it was a problem a security breach so this is something we're going to have to continue to watch out and we for and we appreciate you bring us up to date khalid cook host of the big picture thank you sir you're back commish. and that's it for this time you can catch boom bust on you tube dot com slash boom bust r.t. so long for now see an extra.

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the bipartisan senate intelligence committee shocked liberal media when it needed there was no evidence of so-called collusion between the trunk world and russia so what's the last two years. and what is the damage left behind when russia fades from the u. sa. top stories on a french air force jets ten at the hates home rebel fighters in the central african country of using their firepower to help the boil to. also this hour

fourteen children with tate's are expelled from a school in indonesia at the insistence of outraged parents we speak to some of the kids who were killed.