around the world and covering the world of business and finance and the impact upon all of us i'm bart chilton in washington and we're so pleased that you are with us at the end of the week thanks for joining in going to be fun coming up today some believe the world bank is going the wrong way with u.s. president donald trump to lead the institutions what will come of it are to correspondent sara montana's the loans us a hand to break it down plus crude oil costs are climbing but what are the consequences rocky horror of simpler trading is back to standing by to drill into the numbers and do less tax refund dollars being more taxes are being paid by average americans professor donald williamson the executive director of a coast guard tech center at american university joins us and he won't be withholding anything and later speaking of lest the embattled see the c.e.o. les moonves scandal was bad enough but now there's insider trading allegations related to his departure legal journalist molly barrows from american lawyer joins

us with that story all that in a side but first we had right to some headlines let's go. and arrest on charges international corporate espionage leads our global report today as i chinese born former employee of soft drink giant coca-cola is accused of stealing trade secrets the wall street journal first reported the contents of an indictment . wrong by federal grand jury in tennessee including allegations that she used her position at a famed at the fan but when a base soft drink company to obtain trade secrets including the chemical recipes get this used for coating inside of cans for food and beverages the coke recipe is in question are key because they did not use bio fence all as a or b p a those b.p.a. free coating formulas are valuable because b.p.a. has been found to be harmful to humans the u.s. department of justice national security lawyer said that in this case quote.

exemplifies the rob replicate and replace approach to technological development and alleges that ms you effectively solicited a reward for her spying from a chinese state program the program is called a thousand talents plan wow what a story. and speaking of coke both coca-cola and pepsi co i've reported flat earnings meeting expectations coke was the first reported break the news that this year two thousand and twenty night would not be as good as last the news resulted in cote single toughest stock tumble yesterday since the great recession look at that drop there that five day chart for coke pepsi co which reported today said essentially the same thing as coke about twenty nineteen didn't look so good but look at their numbers coke essential broke the bad news to the market and it looks like pepsico was the beneficiary big time what a difference a day makes as they say both companies cited pressure on foreign exchange rates and increasing effective tax rate from eighteen point five percent to twenty one

percent and increased investment in advertising as the drag downward on expected twenty nine thousand or so. we report extensively with our correspondent sara the oco on herbicide roundup made by chemical giant month santo now known by germany's bear a.g. last year a plaintiff was awarded two hundred eighty nine million dollars after a california jury found his terminal cancer was a direct result of exposure to a greeting in roundup well now it appears cosco the multinational membership only warehouse club and the second largest retailer in the state's behind wal-mart has banned round up the aforementioned sarah month at the open joins us by sara what do you make of this with regard to costco locations they have them all over the world is round up going to be banned in the u.s. and around the world do we know. does have over seven hundred locations worldwide france spain over five hundred of those are in the united states i actually called if you. costco's and that called the headquarters here in the u.s.

where they confirm that they will not be selling roundup now moms across america started the petition on change dot org with and got over eighty nine thousand signatures and they're also trying to inspire others like calling on costco lowe's and home depot to stop selling the product we'll see if they follow costco we appreciate you following this story were so good out west you were glad you happen to be here for. you right there sara and this week president trump has picked his replacement to be the next president of the world bank a senior treasury official david wall post the choice has been widely criticized by many here is still with us has been looking into the story. being the agreement so far this was such a weird thing i've noted but it but i couldn't believe it was still going on that the world bank president gets picked by the u.s. and the i.m.f. president i guess gets picked by europe i mean how's that working out well bart the world bank was founded in one thousand nine hundred four the u.s.

was the largest shareholder back then with thirty five percent so the original deal was that the united states would pick a president of the world bank let me just note that this year that percentage of stock from the you owned by the u.s. fell just shy of sixteen percent so the agreement i mean times are different now but the agreement did say the u.s. would pick the president for the world bank and the european countries would make their choice for the international monetary fund now i want to say the long term standing norm is is just that the u.s. still holds the number one spot in voting power followed by japan china germany france the u.k. and then india but the u.s. also has been a major donor all know not although not there are other dominant powers of put a lot of money into the world bank and this includes so the u.s. that was number one for one point five trillion dollars germany just over one trillion followed by the u.k. france canada and japan with five hundred eighty two million look i'm all in favor of u.s. power. pro-american and everything but i mean geez you would think that one given

this isn't you know post world war two and even though we still contribute a lot that it might be time to reassess is that what people are saying well that's why they are trying a lot there are a lot of critics although also some supporters of trump's new pick because they said he's been he's not well suited for the job he's been very critical of the world bank which is something that a lot of critics are concerned about he's been critical especially with us china's coziness apparently the u.s. or the world bank has lent china over about two billion dollars annually now this makes a lot of people question why especially because china is the one of the two largest world's economies absolutely. the oka thank you so much sure appreciate you look at it. and turning to mexico president manuel lopez obrador on low has finally unveiled his plan to get state energy company p.b.x.

back in the black the package of policy changes include infusions of cash and peanuts pension commitments new funds shifted from other accounts and reduction of p. maxes tax obligations when anticipated savings from those efforts to plug the leaks and p maxes pipes are added in the company will have over five billion more dollars in resources the mexican peso fell by half a percent in currency markets on the news and p. max bond prices fell about one percent p. max by the way has struggled to keep production up and currently carries more than one hundred billion dollars in debt. and speaking of oil while have we seen prices move here to discuss those currencies and futures expert at simpler trading rajeev jorge raji great to see you again i haven't seen you in a while. sags bart great to be back so i'm so excited because like all these stories that we've tried to cover it we've done a good job but i really wanted your take on a few things first before we get to those things do you have any comment on on law

and the policies on energy so far it is new presidency there in mexico. his policy right now it's just been he's steadily campaigning he's got an approval rating of over eighty percent i think that the people of mexico are happy that he seems to be facing the issues like the corruption like the stolen gasoline so they'll support him but that pemex downgrade by fitch and he's going on the attack instead of just looking at what they could do to address the issues i think this could be the first domino to fall to maybe start to make his public approval a little bit more wobbly so we'll see how he handles this right now that's why i wanted to ask you clay knew you have a great answer thank you so much all right so we also need to talk about a huge another issue brant crude which is traded at ice futures europe in london just a while ago i mean hour and a half ago or is something recent twenty nine high above sixty five dollars last i looked at it was sixty five fifty per barrel i mean what do you make of it and does

it have anything to do with those reduce production numbers from opec from earlier in the week that we expected figures and they were even below those anticipated. the saudis have been overachieving they were looking at just over ten to ten three million barrel production and that was the agreement to cut their production down to that level and they're somewhere around nine point eight a half million barrels per day even lower than the production of opec plus agreements that they had last month so that's helping but i think this has a lot to do also with what we're hearing from powell as of january fourth i think we're going to start to see a tick up in inflation i think we're seeing crude take up i think we're starting to see copper tick up so i'm actually looking. this is a very subtle macro shift in the u.s. it's going to make crude a whole lot more favorable to an uptrend raji what do you make of the whole venezuela circumstance. beyond the humanitarian crisis that's probably looming

because the sanctions that we're looking at are much more iran like than probably even an initially perceived so fab one we found out that we're not only placing sanctions but there are tankers sitting offshore because p.d.s.a. wants payment first and their freight of not being paid and so we're seeing the u.s. comply apply a more iran like sanction they've asked india not to buy oil from venezuela we're seeing high compliance so what i'm going to see is just that that pressure on oil is going to basically right now probably bankrupt duros administration they want to where they want them to run out of cash and that's why i say it's a it's a humanitarian crisis in the making but it is really i think what the goal is to get. in into power meter out raji horner a simpler trading what a delight to have you back on the program thank you so much rajeev sure appreciate it have a great weekend. thank you my friend. and

it's time now for a weekly market wrap up and we start as we like to do at the russia moscow exchange rather it rush at the mo x. and the hoax actually up as was the shanghai in shanghai the shanghai composite and by the way the shans and we don't have the show and then we usually don't do that but that's also up at the nikkei two twenty five have a tough start to the week but ended up being up on the week and down in hong kong at the hang saying there it was down but i want to stop here real briefly for a programming note the hong kong block chain week is an early march and next week the c.e.o. of that jawan levy is going to be with us from next change and he's sponsoring next change is sponsoring it's going to be a blast we're actually going to bring the program to hong kong that first week in march so we look forward to that back to the chart australia of the a.s.x.

three hundred down in sydney up despite some losses this week in lining mining company giant rio tinto that a lot of you know and then b. h. p. group also down as is the financial sector by the way but strong down days stop today with three of four big banks in australia ending on a positive note and in india the sense. in mumbai the bombay stock exchange down and then down for the year heading into those elections we tell you about coming up in just a couple of months in south africa the all shares was up and then moving to europe i want to talk about europe just a little bit there is news out of the e.u. that the gross domestic product grew it two percent in the core point two percent rather in the fourth quarter and that's the same as q three and ties the lowest since q two of twenty four. tain germany as we've told you on the program slowed

and italy actually has gone into recession the twenty eighteen euro zone g.d.p. stood at one point eight percent and in the markets here at the french cac the cac forty up the german dax and buyer member we were talking earlier about month santo the whole roundup thing and costco well buyer edgy up for the week and up here today but down year over year and the u.k. footsie like the cac forty up for the week up for the year but down for the entire year over year and in colombia down at the coal kept up as was the ibo best in brazil and up in canada at the ts sex it's in the it up and in the us and by the way we've talked about the possibility of a government shutdown in the states while congress has passed and president trump has signed a bill to continue funding so there will not be a shutdown markets reacted favorably to that news both at nasdaq and the new york

stock exchange they're up for the day big time as you'll see in a moment the numbers for the day and up for the week and that's your weekly market wrap up for this time time now for a quick break but hang here because when we return did the trump tax cut law torpedoed tax refunds for average americans professor donald william some of the executive director of the coast guard tax center at american university joins us to discuss plus if the embattled c.b.s. c.e.o. les moonves scandal wasn't bad enough now there's insider trading allegations related to his departure legal journalist molly barrows from america's lawyer joins us with that story as we go to break here are those daily numbers i promised you at the closing bell from new york we'll be back in a flash. when

the whole make this manufactured consensus public wealth. when the ruling classes protect themselves. in the final merry go round be the one percent. going all middle of the room sick. what politicians do. they put themselves on the line they get accepted or rejected . so when you want to be president. some want to.

have to go right to be for us this is like the for three in the morning can't be good. i'm interested always in the waters in the house. they sit. in a world of big partisan 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 smart we need to stop slamming the door on the bath 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.

welcome back last time we spoke about iron ore and the bell a brazilian mining company well today eight employees of the company. including two executives have been arrested all rested in the investigation of the collapse of that dam which led to brazil's deadliest mine disaster ever the flood water mud and mining waste killed at least one hundred sixty six people and many more more than one hundred well more than one hundred are still missing earlier this week warders revealed an internal company report that rated the risk of collapse for the failed them at twice the acceptable limit and warned about the risks from nine other dams owned by the company those dams as we've told you about before have been close yesterday bill a c.e.o. . offended many when he told brazilian legislators that the lay is quote a jewel he's a brazilian jewel and quote cannot be condemned for an accident that happened in one of its dams even though it was such a big tragedy what have you. and there's some rough news in the right hailing

sector as china's d.d. reportedly plans to cut staff of fifteen percent unnamed sources familiar with the plan say t.v. executives internally disclosed today their plans to dismiss two thousand employees out of a total global workforce of thirteen thousand the executives also reportedly said they will shift resources toward efforts to improve safety whom busters will recall d.d. was officially admonished and fined by chinese regulators last year after the murder of the murder of two d.d. writers by their driver ago. and we now move to do a deeper dive on a story we told you about briefly the other day with regard to taxes and the impact of the new tax law in the states to help us out we are pleased to once again be joined by professor donald williamson the executive director of the co god tech center of american university here in washington d.c. as always he will not be withholding anything on our tax discussion sorry about that professor but thank you for being with us we are show appreciate. the report was that from the i.r.s.

that refunds are down and that the treasury department says hold on for a minute this is. early in the game hold your horses the numbers aren't in but it leads us to ask whether or not our refunds down because there wasn't as much withheld or a day down or refunds down because there's not as many deductions in the new packs bill what are your thoughts because these early returns are those that probably are taxpayers claiming the standard deduction and claiming no other deductions at all my my two cents would be indeed it is because of the reduction in withholding that the refunds are down we'll just have to wait for later returns examine them to see what the impact of the refund is on them but over eighty five percent of americans this year will claim the standard deduction and claim no other deductions at all you know i just remembered something and you may rue the day you told me this you brought in i think the first time we met professor a little sheet you said this is what the new tax form can look like and you had it

i don't know if it was reduced but you had it on something like this it was not reduced it wasn't it is that what people are actually using a postcard now but again over ninety one percent of the tax returns in this country are being filed electronically so the form that i showed you no one is really filing themselves but we see the form has been simplified with certain extent there's lots of schedules that you know used to be on the form itself there are a lot of schedules that been added but basically the. show be i was pretty incredulous about it so i'm glad to know that it's worked out even if the schedules are separate so let me ask you i mean here we are more than a year after the law was passed and we're still trying to figure out really what it means do you have any clearer view of what you think who you think rather are the winners and losers in this thing in the short run but i think we most people in this country are indeed winners the tax rates are lower and the amount of taxable

income so they'll pay less tax however in the longer run i know in the long run we're all dead but our. and our grandchildren will have to pay the piper us that made that the tax bill cost between one point five in two trillion dollars that's serious money who's going to pay that we're not paying it today and it has to be paid someday now ultimately maybe the government just prints the money but that might even be worse because that means inflation and i just don't know what's in store for our children and our grandchildren well you may have sort of answered one other question i wanted to ask you but let me phrase it maybe you can embellish your give a little texture so here i mean look markets were crazy good last year a lot of a lot of the you know get up and go was in part said to be due to this tax bill but we had a g.d.p. and twenty seventeen of two point seven percent and now they're talking about maybe we'll get to three percent despite the claims on the campaign it's going to be six

seven eight i don't know the billion percent but was the two trillion dollars worth getting maybe two or three points of a tenth of a percent what do you think you've answered your own question on that part clearly you know i don't know whether this country would have grown even two point seven percent equal to the twenty seventeen growth rate so i cannot judge whether this tax bill created the three percent rate or something more something less but it two trillion dollars as you pointed out that's a lot of money for this tax bill and we'll just have to wait and see if it plays out always so great to have you on professor thank you so much donnelly of god center at american university preaching your time. and c.b.s. shareholders have filed a lawsuit against former chairman and chief executive les moonves as well as other c.b.s. executives over allegations of get this insider trading violation of those s.e.c.

was laws and suspicious stock sales the suit says they sold off hundreds of millions of dollars ahead of that sexual resonance scandal that forced mr moonves to step down from c.b.s. legal journalist molly barrows contributor with america's lawyers here now with more hey molly i mean are all those folks being accused of insider trading. no there is actually a variety of charges and there but according to this class action lawsuit a number of the top dogs with c.b.s. collectively sold more than three point four million shares of that stock worth about two hundred million a little over and it happened during a time the suit says when c.b.s. knew that the me was asking about the sexual abuse and harassment allegations against moonves the suit says moonves sold stock valued at more than one hundred fifty five million between june two thousand and seventeen and may of two thousand and eighteen that was before the company revealed in july that it was going to

investigate moonves over those allegations and then of course moonves resigned later that september last september all shareholders bringing this lawsuit say the timing and the amount of the sales make it quote unusual and suspicious and demonstrate a motive to commit fraud. only moonves acting c.e.o. joe in yellow chief accounting officer lawrence lighting and former communications chief joe swartz are accused of insider trading this lawsuit but there are other allegations look i mean it's as you say legal journalist molly burrows there are allegations that this is point but boy you just think that people that are in these high level positions one of the major media companies in the world not just in the states that they would not just know this stuff but they would be so diligent about not dealing with the mr moonves or any of the c.b.s. employees responded to those allegations. they have it before i get to the reaction i'll just little bit about what you talked about there some of these other

allegations in fact are against the c.b.s. board members and sherry redstone who's a vice chair of c.b.s. and president of the national colden company that is c.b.s. is majority shareholder well going to your point that lawsuit alleges that they could have done a better job policing the whole work environment there c.b.s. that they didn't disclose this pattern company wide pattern and practice of sexual harassment which created this culture of fear in this hostile work environment that put the company at risk leading to executive stepping down and basically not being able to do a better job of protecting the company's assets when they knew this scandal was coming and they didn't give anybody ample warning so a spokesman for moonves told variety that he denies any wrongdoing of course says f.e.c. filings this is what's so interesting also show that some of his sales were made under a rule ten b. five one plan which sets out a regular schedule of stock sales and under those plans the insider gives up direct control in order to avoid liability of insider trading claims so that is going to

be it sounds like his possible defense i wasn't in control of my shared stock it was on a schedule of my shares of that stock i should say and c.b.s. also said in a statement that it wouldn't be appropriate to comment on ongoing litigation however they say they have been in compliance with the law so there's maybe a little bit of an indication of what their defense is going to be part that's why you're a great legal journalist molly burrows contributor america voice thank you all a great weekend. you could argue. and last time on the broadcast we spoke about drones being used in the media and other industries that i mention that there are banned in certain places like here in washington d.c. and some other cities and it sensitive places like airports you may recall a drone shut down stansted and also gatwick airport both near london in december well earlier today as if on cue the third largest airport in the world in dubai was shut down for half an hour due to what is called an authorized drone activity

drones aren't allowed within five miles of the de by international airport the perceptions and all the perpetrators rather in all three of these instances have not been located and it appears that there's no contrail sorry for that. and that's it for this time of you and we hope you'll be back again thanks for being on board you could always catch boom bust at you tube dot com slash boom bust artie you have a great weekend see it next time. and i mean i'm of the school entire system i found a way to go through a fluke because the ballot itself mukti it i. was in this way got to doubt it so hard not to think of the other disappeared this moment the work of a coward and i don't mr martin if. this is the only thing that we do is

music because everybody fights in his ways. it's true and you can feel the fifty pound is worthless woody allen you have all of the ability to put the payment on the. but i think is this is the fans that is a constant. the. united states does that all the time it always tries to influence elections when people who are running who are friendly to the united states are running against people who are unfriendly we certainly did that all through central america and south america for many many years we know that these efforts are made

repeatedly there not criminal every intelligence agency in the world she's a smart of its function to make sure that elections turn out favorably to the country. they put themselves on the line. to get accepted or rejected. so when you want to be president and. somehow want to. have to go right to the press it's like well before three in the morning can't be good. i'm interested always in the waters of my. question.

thank. you so much. headline stories this hour the nord stream to. take center stage to this day that munich security. with germany. supports all of the projects facing increased pressure from washington. on this is what is happening right now in the park pictures from the french company a clue.