let's go. a remarkable reversal on the issue of illicit international money flows leads are global report today as the european commission blocks the blacklisting of saudi arabia and four u.s. territories in the fight against financial crime as we reported here the european commission previously recommended that twenty three countries and territories including saudi arabia and four unincorporated territories of the united states be added to the european union's list of areas where not enough is being done to prevent money laundering and alyssa transfers but the commission was handed a staggering defeat on thursday night as representatives of twenty seven of twenty eight e.u. nations oppose the commission's recommended additions the commission's express its talks between the commission and member states on the way forward reportedly took place earlier today. and speaking of dirty money there is corruption news out of liberia where three former leaders of the african nation central bank have been

arrested in the disappearance of liberian banknotes worth roughly sixteen point five million dollars the suspected embezzler is include a former governor of the central bank as well as a deputy governor charles sirleaf mr sirleaf is also the son of liberia's former president ellen johnson sirleaf the arrests are just the latest developments in a major scandal that began brewing last october over the disappearance of a total of about one hundred million dollars worth of bank notes in a report commissioned by the lib liberian government after the story first broke consulting firm kroll and associates said they had quote identified discrepancies at every stage of the process for controlling the movement of banknotes into and out of the liberian central bank. and staying on the dirty money while dutch shell is once again facing legal trouble over their business practices an oil rich nigeria the corporation disclosed earlier today that prosecutors in the netherlands are preparing to press criminal charges of the company's efforts to acquire an. she

writes bought by wire ball energy company any of italy the company's stock took a hit as the dutch prosecutor's office confirmed they have found that shell committed prosecutable offense is involving suspected bribes to try to secure rights to o.p.l. two forty five oil and gas exploration block while drug charges have not yet been released managers at both shell and any are already facing corruption charges in italy over the o.p.l. two forty five case the nigerian government has also sued the companies over the case alleging fraud and seeking to recover damages. and the focal point of the trip him summit in hanoi might have been the denuclearization of the korean peninsula but much of the meeting had to do with business as well north korea china vietnam and the u.s. could all benefit from the aftermath of the talks or in some cases maybe lose their economic footing with more on the issue are joined by steve malzberg in new york and alex mahela bitch in toronto alex with let's start with you you could argue

that of all the players here north korea is the one with the most to gain or lose from the summit what's your take on that. certainly so the north korea wants to say she was dropped against them and there are some pretty crazy sages if you look at it a decade's worth but you know they're saying that one thing that mr president trump said that was wrong was that they asked for all they're saying it's to be dropped north korea is now say they don't want want all the seychelles to be dropped they're talking about sanctions mostly that were put up by the u.n. between two thousand and sixteen two thousand and seventeen that are hampering according to them the ability for further on for decades but we're talking about say actions around two thousand and seventeen so what what the current north koreans have said is that they're willing to dismantle their your radio production they young beyond complex for exchange of dropping these sanctions now these sanctions unlike the ones that started decades before were about weapons and such

this war that's also hurt the economy but it was like stopping oil flow into the country north korea doesn't have much oil itself has to import most of its energy in oil also we're talking about exports of textiles that's a massive part of the north korean industry they're not allowed to export test textiles and also in a smaller facet their foreign workers there tens of thousands of foreign workers working around the globe saudi arabia or i should say arabian peninsula as well as other countries in asia those people were told to go home so these are some of the hits that they took their economy and they're hoping that moving forward they can get these sanctions removed as we saw it didn't happen at the summit but it could still happen even president trump says that things are ongoing here they're interesting alex and steve from a business perspective we've heard a lot of president trump touting the benefits for north korea of denuclearizing but are there are significant economic carpet opportunities for the u.s. as well when it comes to north korea and the region. well absolutely you know my comp aoe said as far back as the middle of two thousand and eighteen that if kim

agrees to to acquiesce they're going to need a whole bunch of stuff done in that country to modernize. we're talking infrastructure we're talking about electric grid right on down the line and he made it very clear pompei zero that this will not be the u.s. taxpayer footing the bill for this this would be american companies going in with opportunity to do business and to restructure their hold their whole system and of course when it comes to trade as was alluded to a second ago when it comes to trade because of the sanctions north korea only trades and import export about ninety percent of it is with china and certainly that the u.s. would have an opportunity to import oil to import grain which the farmers here is just perked up all over the country and machinery as well so that's three huge areas that that would benefit and let's not forget that if a deal were reached and we were able to draw down our troops in south korea economically that would help the u.s.

as well so there's a lot of benefits but you have to ask the question this can really want that does he want modernization does he want to open up the country and have his people see what's out there i don't think so. very up question stephen you mentioned china what is their interest here what depending on how this plays out what could be the economic cost or benefits for them well naturally china right now they they they dominate like i said trade is ninety percent of the imports exports are with north korea at the through china china is a string polar to me a puppet master when it comes to north korea and always has been and i think as far as u.s. china talks you know before the talks in north korea fell apart in vietnam i should say with north korea everybody assume that there's going to be a deal short because trump said at the press conference in vietnam look i walked away from this i might have to walk away from the china deal even though larry kudlow expressed great optimism yesterday the other two let's sing of the chief

negotiator and the new should the treasury secretary have expressed a little more doubt and reserve when it comes to speaking about it. so it's a question and especially if trump believes that china was behind north korea being obstinate here and stubborn at these recent summit it might not bode well for the future of the trade talks and don't forget today's march first trump in his goodwill gesture postponed the increase in tariffs that was supposed to take effect today and alex what about the host country here what are the angles vietnam is trying to work as the interlocutor here in the summit well i mean look at vietnam is a country that has one of those fastest growing economies in all of asia and this is a former communist country and we all know about the vietnam war and now they're doing fantastically well i mean their country that has really moved forward this is something that kim and his people from north korea are looking at very closely because this is a perfect example for them how to grow and you know i'm talking so nicely a bow

a vietnam i've been there is a wonderful country but let's look at what president trump has to say and this is a tweet from him he says vietnam is thriving like few places on earth north korea would be that sea and very quickly it would if it would denuclearize the potential is awesome a great opportunity like almost none on the other in history for my friend kim jong un we will know fairly soon very interesting so we know now that that didn't happen overnight but it might happen so place down the road so anywhere that you turn it right now like vietnam north korea has the potential to become something huge like vietnam it's looking at tourism and it's a resource rich nation so there is potential someplace down the road if things go in the right direction right and alex we had you here yesterday talking about this fast moving scandal with just prime minister justin trudeau there in canada calls for him to resign what's the latest there. so the latest all we know is that five former attorney generals are now asking the r.c.m.p.

which is the royal canadian mounted police to probe into this scandal the scandal deals with s. and c. level and i q jay engineering and construction company that is accused of corruption they were bribing people choose to bribing people in libya the government officials there and trudeau's told the attorney general the former territory general stop do not prosecute according again accused of saying that it's all allegedly so we've got to point one there and point to i just got to say that the latest is also that he had to do a cabinet shuffle today because of the attorney general after quitting he demoted or and then she resigned from the job so he had to find new people to fill those places ok very fascinating situation going to keep an eye on that our correspondent alex mahela bitch and conservative t.v. commentator t.v. and radio commentator seawalls bird thank you both very time. thank you.

now for our global weekly market wrap up and we start as usual in russia at the moscow stock exchange which was down this week making three weeks in a row notably gazprom the giant state energy company building that eight thousand mile pipeline to china we told you about the other day is beating the trend on the moscow exchange for the last half year in china at the shanghai stock exchange it's up this week on positive trade news as steve just mentioned u.s. tariffs won't be increased today after progress and trade talks japan's nikkei two twenty five up and that's three weeks in a row there shanghai and nikkei up hong kong hang seng down has been back and forth quite volatile this year in australia the a.s.x. three hundred up in india of a sense that's also up as it appears the conflict with pakistan is cooling after a conciliatory statement from prime minister emraan khan sound in south africa all shares also down going to europe and france the cac forty is up as is the german

dax turning to great britain the u.k. footsie down with concern continuing uncertainty about brags it will it be delayed or will there be a deal only twenty eight days left until the deadline moving to the western hemisphere there is a phenomena going on colombia the coal come down as is the ibo vast and in brazil we can't we must note that today carton of all kicks off which is good news for the i that's the nation's confederation of commerce services and tourism estimates a celebration could generate nearly two billion dollars of economic activity and create almost twenty four thousand jobs and eight thousand miles to the north of canada's ts x. that exchange is down for the week as are nasdaq and n.y.s.e. in new york and one note on the nasdaq lift has filed for a one hundred million dollars i.p.o. initial. public offering in that exchange we will be following this closely as race with the sounds of us. time now for a quick break but hang here because when we return as technology barrels full steam

ahead so to finance and we are swinging impede abusee helps us analyze the future. and finally trade tensions are causing some people's bank accounts to take a beating i know it's causing troubles there was stifling as we go to break here on the numbers at the closing bell. you know we're number one. in united states we all flow number one. i mean. the most. evil

you so incredibly well you've got to we can jump shot in order to move. like a lot in a month. so this is somebody. at the rules. came here where did you work before you came here live. in many u.s. states capital punishment is still practiced convicted prisoners can spend he is waiting for execution and most of the time the victims' families they are very much in favor. there are some people. because of what they do have given up the right to live among us somebody even proven. true but how many more races is it going to

take before we as a society realize that this is not working and we actually do something about. broken bones tesla motor company has announced it will soon join the long list of companies that are trying to online sales and as

a result will be closing most of its traditional brick and mortar stores in the near future archies rachel blevins steers us to the details tesla has announced that in order to cut costs it will be closing stores in the next few months and moving to online only sells for its electric cars tesla c.e.o. iran must has branded this major shift in the company's business model as a path to both cut costs and to follow through on the promise to sell the company's model three for thirty five thousand dollars in a statement tesla said that shifting all sells on line combined with other ongoing cost efficiencies will enable them to lower all vehicle prices by about six percent on average musk admitted that the first quarter of twenty one thousand is not likely to be profitable. but he said he has hope that tesla will be profitable by the second quarter tesla shares fell four point nine percent to around three hundred four dollars in pre-market trading on friday but reports noted that the

stock is still up from where it was on tuesday before musk took to twitter to announce that he had some tesla new decision to close brick and mortar stores follows the announcement that tells lies cutting three thousand one hundred fifty jobs or about seven percent of its workforce this tesla store here in washington d.c. is one of around one hundred stores in twenty three states across the u.s. but tesla has notably run into problems with local and state governments in recent years and twenty seven states have banned the company from selling cars directly without operating franchise dealerships with online only test level no longer give customers the opportunity to test drive vehicles before purchasing them but it will our customers to return cars within seven days or one thousand miles for a full refund allowing them to buy a tesla drive several hundred miles for a weekend road trip with friends and then virtue for free so the question remains

will customers prefer to stick with cars that they can test drive before purchasing or will they embrace this new changes traditional tesla stores become a thing of the past in washington rachel blood vns r c. checking in with india u.s. convenience store chain seven eleven is making the major play for market share in the country's growing retail food market the familiar vendor a snatch and soft drinks is partnering with the retail subsidiary of the india's future group according to future group c.e.o. kishore beano me some eleven japan reportedly will also help the company to launch into a market where such chain stores are not yet common in so-called mom and pop corner shops or more typical seven elevens international director ken will kobayashi so the indian. will bring the india will bring the number of countries with seven eleven stores to eighteen. and moving to both east and west of india china is chafing at criticism from turkey on their treatment of the muslim weaker

minority and giving notice that economic ties could be jeopardized the chinese we are population are believed to be a target ethnic group and the majority of them live in the far western province and jang meanwhile president ed one of turkey has sought to create a profile for himself as a defender the chinese consulate in izmir turkey is third largest city has been closed and turkey's statements on the treatment of the wiggers in a statement and bastard jangly said criticizing your friend publicly everywhere is not a constructive approach. we now move to block shane and i are pleased to be joined by. the spin tech and crypto leader in asia on rethinks for joining us today good to be with you when we when we talk. adoption and we do a lot here changing things from health care medical records to finance is finance the sector where we should be looking for this technology to have the most. quickly

developing applications. absolutely as as you know there's a lot of interest in blocks in technology from a whole broad range of industries for example a recent survey that we conducted with six hundred executives from fifteen countries so that eighty four percent of those companies are working on technology although most of them are start the r. and d. level however while there's a lot of good use that use cases of financial services i mean from you know trade finance to post resettlement process these are very valuable headcount intensive after argue that we're seeing a lot of developments outside of financial services for example in areas like the just takes a supply chain management or even the food and drug traceability you know because consumers want to know that there is food or drugs are actually coming from where they save cobbs and that. something that blocking technology can be not sought to solve entirely but helps us solve it in part to get good at help us solve it partially in a very helpful laundry and in terms of these benefits what's keeping us from doing

it all right now what are the embed sort of bumps in the road on the way to. asia. now it's a good question you know it's a bit ironic because if you look at some of the features that make a lot of technology unique you know from the fact that it's consensus driven is distributed even some features like traceability and you to bill t. have actually become some of its obstacles when it comes to adoption of financial services you know as you know banks have to comply with a whole range of requirements when it comes to customer identification data and the for those cases they use a public walk chain. not ideal when it comes to for example data privacy laws would g.d.p. are for example where customers have the right to be forgotten again using a block chain with immutability functions is also not ideal this is actually you know when you look a lot of the banks when they've been experimenting with blocks in technology they've been in a lot of use and permission networks permission less that works like bitcoins were

really they can choose who are the other participants on that block and can decide what features they want to have on board as well yeah i don't agree that's a very interesting point you make that depending on the specific application of any particular technology it could be either a feature or a bug depending on the way you're trying to use it and you know we i know you're on top of the very cutting edge of want chain technology applications what's going on right now that we're you know about that we're going to be hearing about very soon in this field. well you know when it comes to cutting edge or exciting stuff involved in this you know boxing is the gift that keeps on giving i would say the one element of the brother of the family that is really exciting me right now is really want to comes to crypto and crypto currencies and especially the institutional players as you know over the last couple days we've seen players one way here in the u.s. with j.p. morgan launching their own g.p. morgan call that offering crypto products to its high net worth clients and i think this is very the entry of institutional players is very exciting because it really

brings a level look at situational maturity and expertise to the craft of the group of sector something that it not only really needs but it also deserves a very interesting is always on re our slane and p w c thank you for joining us it was a pleasure being on. china has been imported recyclables to improve its environment but the move could take a financial environmental toll in the united states legal journalist model molly barrows contributor with america's lawyer joins us now to talk trash molly brings up to speed on this been how how did this story what's going on here. hi again you know well it used to be that the u.s. them most of its recycling overseas to china in two thousand and sixteen the country was exporting more than forty percent of its paper as third of its plastics to china but last year china closed its doors to foreign ways and the u.s.

had to scramble for new buyers well despite stories of recycling lows the u.s. seems to be finding them in other words the u.s. has no other choice but to find other customers for its recycled materials and to invest its own recycling centers as some communities are doing that you know that's not going to happen overnight beginning in two thousand and thirteen china began to make a series of policies policy shifts rather to reduce the amount and types of recycled materials in the country they are limiting in essence. twenty four and so they're basically saying it's because they want to. they're worried about their own environment but some on the other side of different global community say that's not exactly the reason they're doing it that there are other reasons but regardless of whatever the reasons they say that this means that the problem the hot potato fuels fall back into the lap of us states and us communities that have been sending their trash their recyclables to come to china because by twenty twenty they want to discontinue all recyclable materials if you will to china so in two thousand and

seventeen to see a recap china announced that it would impose a certain standard for recycled materials far below the industry standards but at the same time it also found the importation of several categories of curbside recycled materials which could have an impact on people who are employed to recycle those materials so of course you're having a lot of concerns from people who are with in the the garbage collection community if you will of how those materials are collected it's going to take a big toll financially as well as environmentally people are concerned about we're burning this material here in the u.s. we're going to lose employees to sort out this material inside and basically prepare for distribution to other countries so china's band is going to have a going to have an impact but the bottom line is we've got to figure out what we're going to do with our own trash you know right very interesting molly and you know the there is a market for these materials but when it goes below

a certain point in terms of you know the resale now you that then it literally becomes a hot mess we've got a hot mess here with louis trash being burnt in the united states can you talk a little bit more about those concerns those of my mental concerns in the united states around burn trash and environmental justice concerns all these environmental justice issue who is going to pay the price he's going to have to deal with his trash and with the smoke depending on how we deal with it what were the tolls will bit more about. e.j. concerns. he has absolutely because you know we all have trash we have to get rid of whatever country that you are in and so the bottom line is how do you address your particular country's concerns when it comes to say for the community and the united states we know we have laws we have to abide by in order to keep those decisions safe but in china they say and they seem to be saying now that hey we're going to make these decisions to make our environment safe but you know the bottom

line is not everybody believes their reasoning but the bottom line is american companies worry that these restrictions going to venture lead to loss of tens of thousands of jobs and the closure of many recycling business as they're saying what the world are we going to do but they're going to find other ways to deal with this yes there are concerns about the emissions that come from burning this recyclables they don't want to be a long term impact but they can certainly make other decisions that you so much. for giving us just talk about this embed this president reagan and we'll see where thanks for joining us molly barrows contributed to america's lou thanks so much for your insight you can catch boom bust on. you tube dot com slash two most ot see you next time. what we really need is someone from the outside. we had some very

good. because of. series they lost. souls a day killed not intermediate between cause of the palestinians. the folks who print the money when they want more money they just print more money they don't rely on workers to go and produce stuff that they have to go sell and then make a profit on the stuff they sell you don't see that in a car this tranny wars become financial honestly don't see it on the property market any more spend financial eyes you don't see the manufacturing in the us has been exported to china and financial lives commodified securitized and american as a worker is completely redundant the same as they are around the world so those wages are converging and they converted to wages in china so china wages are roughly i think four or five thousand dollars a year this is where the american wages are headed.

home i don't know not sixteen months honestly do you know you. know boarding a philippine naval ship. but not for me ned ninety dollars. just aren't abdulla still don't know who watch waiting for them. there to. be and i tell you not to. pick it out of. the man i'm nobody.

much was expected from the noise summit there may have been goodwill on both sides but in the end neither the united states nor north korea could agree on the path forward the two sides failed to reach a common understanding of what their desired endgame for denuclearization actually ends. venezuela moves to protect its assets by ordering the state oil companies european h.q. to move to moscow amid concerns shared by russia over u.s. led attempts to destabilize the country. clear was going on you last a seeking to arm terrorist groups a rabble is in order to destabilize undermine our peace p.-o. he creates tensions and situations that might trigger as the us wants an explosion and bloodbath is on his way to justify military interference as. an indian pilot captured by pakistan.