by the way what is the punchline here. welcome welcome this is boom bust broadcasting around the world and covering the world of business and finance and the impact on all of us i'm part killed in washington and we're so pleased you're on board today coming up it's a busy brecht week especially today and we go after it after the headlines with hilary ford was the c.e.o. stroll mark was standing by and wall way is in the news yet again and u.s. diplomats they try to thrust conditions on our allies related to the chinese tech giant and germany's adidas the famous footwear and sports holding company is in the

news on a few fronts from france to the u.s. we'll have reports from both places plus as numerous nations ban flights of those boeing seven thirty seven max jets the u.s. says don't worry be happy archie's ashley banks reports on the status and there's ample auto news as renault michoud the she end nissan all have new board and former chairman carlos gomez is out lauren fix a car coach will be with us with that story and more including trouble else plus all that directly ahead but first let's get some headlines let's go to. a second landslide defeat for teresa mayes brecht's a plan lead to a global report today as the house of commons again votes three ninety one to two forty two to reject ms may's plan throwing the process into greater uncertainty the bright british prime minister travelled to straws for a guest today to seek flexibility on the so-called backstop from the irish board.

from the european commission president sean claude juncker news may got some relief from mr juncker ahead of the vote only for the british attorney general geoffrey cox to find in writing that mr junkers concession did not provide internationally lawful means for the u.k. to eventually dispense with the work around with time winding down the timing and content of mr mr cox a statement were perfectly disastrous for ms may's anger miss may's efforts angering bricks at lawmakers and seeming to make today's results almost an eval and for more on the late breaking news we are pleased to be joined once again by the c.e.o. of strong marco report which hilary we know that you are jesting this because i was looking as we were coming to air that the vote really just happened a few minutes ago and it got clobbered but tell us the latest give us some texture hillary. well pleasure to be had bought and you're absolutely right clobbered is the right word one hundred forty nine votes ensured that it was a defeat and no one was surprised by that really

a tour the markets held steady actually the footsie now of course is surging on this news now as you mentioned we move ahead to the next vote to the next vote is going to be tomorrow and that vote is going to be on a no deal or not is it going to be allowed is a no deal going to be allowed so that's tomorrow wednesday and then on thursday we go to the delay or not vote so tomorrow if there's no deal is ruled out in other words if no deal is not allowed that will change things for thursday because of course you know if it's ruled out then we have to have a delay so and i was watching you know i didn't catch all of it but the opposition labor party leader jeremy corbyn was saying look you know the prime minister ms may has run out the clock here we almost acted like it was intentional without a good deal and we really want our deal which he gave a few points on we want that up but if we're not going to get it that way maybe we

should have a general election to see who's going to run the government would you make of that . well yes of course he says that because guess who he wants to be wants to be in power that would be himself of course he would say that right about but a couple of things a threesome may cannot be actually ousted by the party her party the tory party until next december she does have the ability to call for a general election what she said today though after the vote is she is going to adhere to the will of palm and of course she's very much weakened everybody has known that her party has been split so i think still there is a lot of trepidation about germy corbin they of course the labor party wants to remain and he of course is a declared obviously social socialist and that doesn't go over well with business at all businesses of course are sick and tired of these delays the turmoil the uncertainty and the billions of of pounds and time that has been spent dealing in a sort of no deal scenario the the delay scenarios all the different scenarios that

businesses have to sensibly plan for most of the common you fracturing sector has actually fed well because they've stopped piled so extensively and so is everybody been able to do except for of course the for the fresh food fresh food products hillary we want to have you back later in the week if we can on this thing to you because as you say there's more votes coming up in all of those are pretty important you're a former c.e.o. mark thank you so much ily appreciate you being with us as always treasure. and once more chinese telecom giant wall is in the news this time because u.s. diplomats are thrusting conditions upon our allies here but the stories are to producer michelle green so michelle thank you for being with us we love having you on the show this is sort of a troubling story i read it has to do with germany but maybe there's a riff occasions give us the latest right so as you know administration has essentially been lobbying a lot of our allies to essentially ban huawei from the development of their five g.

instruction it isn't just the five g. that they want to bet that it's not it's not necessarily the phones is that i know it is not the phone it's verified you wireless infrastructure as you know five g. is like the next generation of wireless infrastructure billions of billions of dollars here the top one hundred administration right now is warning germany not to allow while way to participate in building this network they say that if they don't comply the u.s. is going to restrict the intelligence sharing between the two countries so the u.s. is going to stop sharing intelligence with germany at least at the same level and with the same degree of transparency as before now uncle merkel today actually came out and said look a security is very important to us we're not going to ban huawei totally but we will reassess our network standards for all companies including while way the state department their justification for this is essentially you know it's falling in line with washington's longstanding position that huawei can it basically be used as an agent of the chinese state despite the way saying that you know they're not

an agent of any state it's an employee owned company they're not beholden to any government but the state department official yesterday said hey americans will assume that anything we share with germany will end up with the chinese now even though we have yet to see any exactly we put in but i mean you're laughing right now because we've actually seen no evidence of that yet but despite no evidence and despite the u.s. saying we don't actually need this evidence australia new zealand have already banned while way from five g. japan has banned while way from any government contract so some of our ally. are falling in line but look let's say all of our allies do you know caved to this washington pressure it's going to be kind of a difficult process banning huawei won't be fast or easy take a look at the world wide telecom market ok right now while way has twenty nine percent of the global telecom market so that's going to take a while to change as you can see that nokia and ericsson you know they're a bit behind so replacing replacing huawei is going to be costly and time consuming

because according to to logger research network replacement cycle can take from five to ten years now take a look at this other thing i've brought for you let's look at the ownership of what's called standard essential patents quali owns more five g. patents than any other company on earth now chinese firms as a whole own thirty six percent of all g o five g standard essential patents u.s. firms like qualcomm intel and apple only own fourteen percent so you know this has a lot to do with the fact that while he is just spending more money developing their technology in two thousand and seventeen they spent thirteen billion on research and development qualcomm you know which is their main u.s. competitor spent five point five billion in the same year you would think the show that if with all this intelligence sharing suppose that intelligence sharing with germany that the u.s. national security people could tell the germans what the problem is but then of course there's a lot of it it's it's not easy it is thank you so so much pressure your time yes

thanks for having me. bernard jarrett be the french business tycoon for saving the famous sports apparel company a duders in the early one nine hundred ninety s. zim a hot seat again this time in french court the trouble could land him in jail for fraud or misuse of public funds for the parish archie correspond as the latest. the french tycoon or to p. is backing of course in a trial that's expected to last some four to five weeks now he faces charges of fraud that if found guilty could see him behind bars for five years and also the misuse of public funds totaling an amount of nearly half a billion euros that carries with it ten years in prison now this whole saga has been going on for the better part of twenty five years but this particular hearing

dates back to an arbitration decision in two thousand and eight that saw tippi awarded some four hundred four million euros the operation board upheld his claims that a local french bank had behaved improperly in buying and reselling she is in his i didas sportswear company those dealings gave the bank a profit of some seven hundred million euros but left the businessman bankrupt now the opera tradition decision and amount at the time same shock waves through french society and be been french finance minister who is today the managing director of the international monetary fund christine legarde decided not to appeal that to raised eyebrows and also suspicion that her former boss the former french president nicolas sarkozy was somehow involved he has consistently denied the allegations two years ago a court decided to order tepi to pay back the money and they say. that

arbitrary decision had been fortunate and only now is the case against him coming to trial he is one of six people on trial who has said that he will continue to fight for his reputation and his good name and that he has suspended his treatment of stomach cancer for me to ration off this case i do to systolic has plateaued over the last year as the brand has steve and it looks like the stock will remain in trouble for a lot longer two years ago the stock revenues of some eighteen percent a year ago that dropped to six percent in the last quarter it hoft that it was only at around eight hundred so it certainly seems as if it will continue to decline. to paris. and we thank allah for that report adidas is also in the news in the states as college basketball has been rocked by

a scandal of historic proportions as shoe prints tied to major athletic programs namely to do this were found to be part of wire fraud and collection recently to a deed as executives were found guilty sent to the slammer sent to jail so what does that mean for the company's financial future for that we turn to sports producer regina and regina thank you so much for being with us. i know this is a huge story i read some of it a few weeks ago but give us the latest on what's going on so they actually recently sent two of these men to the slammer as you say bart for nine months and six months james gatto was the global head of basketball development and then you have merrill coach who actually ironically enough used to work for a decent competitor nike back in the day they were sent to jail on march fifth they were sentenced and actually a few days later if you look on march eighth their stock prices took a little bit of a tumble because of that announcement and the gap is really obvious right here you just see it kind of trickle down on friday when the news really came out about how

much fines you would pay and their jail time so it's really. been an interesting case that it is not only suffering on the foreign front but the domestic front as well and you know their growth has been stymied a little bit because of this news they went up twenty seven percent growth focusing on north america as their brand developed and now they're going to kind of see that trickle off because he wants to partner the brand known for corruption you and i were looking at their stock chart earlier today and in the last year they were high like last i think it was april like one thirty two but as you show in that five day chart was a great one to show because when the news hit boy did it go down now talk about the sort of how the communities how these college programs might be impacted from a financial perspective because of the story well you know a lot of colleges partner with nike especially based out of oregon a lot of the west coast schools adidas managed to pull away the university of washington which you know is a nike territory they pulled them away for a deal of worth about eight point seven five million dollars so they have some of

the biggest deals they're just saying the university of louisville to a ten year one hundred sixty million dollars deal and now levels kind of shaking their head going what did we do we sign of this brand in so that is tarnishing them i think a little bit and they also partner with the university of kansas who's now suing adidas for one million dollars related to legal funds that they need and they've actually hurt their grand as well so it's interesting to see if gatto and code are going to kind of you know pay out that settlement to qantas the and the biggest basketball programs so sometimes these stories are there certainly interesting and they're important for business but sometimes the story the short are here and there but the business is go on and my question to you regina is do you think some of the competition nike under armor might pick up some of the slack here or were there not be any damage to it but it is a sure i think a nike you know has the largest football print a basketball played excuse me in the world ninety percent of their shares come from basketball you can see here bart their joint their sub jordan brand also makes up

a large first of the market. fourteen percent and you know they shrunk a little bit due to dia's his growth but nike still holding strong they're still very competitive on the market level and under armor is even creeping a little bit the maryland baltimore based company obviously universe in maryland is a partner with them and their c.e.o. ken plank is an alum but they also the eighteen other schools that they partner with and last year alone they made five point one nine billion dollars up four percent from the year before and they're really trying to bring in those schools to them that go look at our brand local we can do we're not going to tarnish reputation like adidas we don't have corrupt men in our helm and they also signed a big deal at the university of u.c.l.a. fifteen years two hundred eighty million dollars that is the current heard of in college and that is boosting their profiles you're going to see a lot of those other companies like russell athletics as well you know kind of take that adidas is a print away regina have thank you so much here and i loved all the business by the bus charge thank you regina you're welcome. and it's time now for a quick break but hang in here because when we return numerous nations continue to

ban flights of those boeing seven thirty seven jets the u.s. federal aviation commissions that the administration rather says don't worry be happy parties actually banks reports on the status and lauren fix the car coach will be with us to talk about former c.e.o. carlos gone as a result of this would be she and nissan all have new boards and trouble test put the brakes in the accelerator at the same time as we go to break here the numbers that closing bell will be back in a flash. joined me every thursday on the alex simon show and i'll be speaking to guests of the world of politics sports business i'm show business i'll see you then.

what hope to change to do something to. put themselves on the line. to get accepted or rejected. so when you want to be president. some want to. have to go on to the press this is what the four three of them will be good. i'm interested in the waters in the house. welcome back as numerous nations bands flights of those boeing seven thirty seven

max eight jets in the wake of another deadly disaster over the weekend in ethiopia the u.s. federal aviation administration seems to be saying don't worry be happy all school as you can see there stuck a certainly been responding to the controversy artie's actually banks reports the status actually. i'm here at the ronald reagan washington national airport where both american and southwest airlines are continuing to climb the boeing seven thirty seven max jets just saw by the crash in ethiopia over the weekend that killed everyone on a court that was the second crash in just five months involving a maxi pad causing many airlines around the world to ground look flights however airlines here in the u.s. are you using that to do so currently southwest is operating thirty four planes and it has already ordered two hundred fifty of them as part of their new fleet and american airlines has ordered one hundred from boeing and currently operating twenty four here in the united states former n.t.s.b.

chairman jim hall says boeing and the f.a.a. should ground the aircraft paul told usa today he believes the responsible thing would be quote for the boeing company to pause and take a very close look at these two accidents to find a determination of what the cause was so if there's anything systemic all related to the computer operations of the aircraft that it can be addressed that's the prudent thing to do despite the u.s. his refusal to grant these flights at least twenty five airlines around the world have done so some locations where these airlines are located are in the u.k. china india and south korea boeing seven thirty seven max eight planes are fairly new only two years old they're considered the best selling airliner ever costing roughly one hundred to one hundred thirty five million dollars one aviation expert says this newer model has gained popularity because it's fuel what you shouldn't but whenever there are modifications he says there's an important things to take into account the f.a.a. says that it will take a media and appropriate actions if

a massive sorry after assessing the damages or boarding at dca actually banks are to hear it back to you bart. you could base british petroleum has suffered a setback in attempts to greenwash its image on climate change after the exposure of the company's lobbying against. limits on emissions of methane the power heat powerful heat trapping greenhouse gas documents detailing b.p.'s efforts on two fronts to convince a drop of ministration to lower methane limits have been obtained by greenpeace the documents record be peace efforts convince the trump environmental protection agency and the bureau of land management to rescind rules meant to limit methane leaks from fossil fuel extraction operations b.p.'s head of exploration bernard looney is scheduled tomorrow to address an energy trade show on the topic it's called methane emissions getting to zero that will be interesting. the company's stock by the way has been taking a bit of

a beating as of late and we will have to see how it plays going forward we keep an eye on that for you. and president hassan rouhani of iran is starting an official visit today to neighboring iraq where the embattled iranian leader will seek iraqi help in blunting the effect of u.s. economic sanctions the trumpet ministration reimpose those sanctions and violation of the two thousand and fifteen international nuclear agreement with iran while international experts have said iran has honored the agreement mr wani is expected to sign several men around of understanding and trade deals with his iraqi host including a key agreement on building railway links from iran to the oil rich city of basra iraq is an interesting position because as a neighbor to iran they supply natural gas that generates forty percent of the nation's electricity and a host of roughly five thousand lingering u.s. soldiers a bill to govern the stationing of foreign troops is expected to be introduced this week in the iraqi parliament.

and we now move to auto news and boy oh boy is there a lot of a to help us out we are pleased to be joined once again by lauren fix the car coach hey laura how you do and. are lots of news going on in the auto industry there sure is and it seems like whenever we you know have you set to come on the show all of sudden you know when it rains it pours there's lots lots more we haven't had you on in a couple weeks so first let's talk about your acquaintance carlos goan he's out of jail in tokyo he actually walked out in some weird workers' attire as i recall what's the status of that case lauren. well they snuck him out the back door you had a mask over his face you really couldn't identify him he seemed to be in some sort of prison attire of course they stuck him out to his apart to a private apartment where he has no access to the phone or computers and less he is

at his attorney's office which i find interesting but we'll see what happens he does have a better attorney this time was able to get him off on bail they actually applied to the un saying that you know he had terry and writes this poor man was literally suffering in prison and without a charge against him i mean he was there for like a hundred days right it seems like an awful long time with no charges lauren. absolutely number there that their country has different rules in the us and us here are you know innocent till proven guilty apparently there they have a really high conviction rate which means if you're charged of a crime they may or may not have the information immediately but you sit there until they have it so this sounds to me like a coup everyone i've been talking to the industry has been saying you know the sun did not want to merger of mitsubishi and re no together as one board well they had a meeting this week anyhow to sort of reduce some of the tensions and of course karl's going wanted to attend and they told him he wasn't invited and of course i don't think he would be allowed to leave the country anyhow i was going to ask you

about that he actually sought to go to the board the board beating and you know the car companies said no they're going to go and go alone so what does that mean for the companies you talk about the company is a little bit to me by not having him on the board does that mean they're going to be on the straight and narrow and make some good moves in the future. well we don't know exactly what they're doing but we know they want to reduce some of the tensions especially with investors and potential customers of their vehicles they want to say hey we've got to sort of control we're still going to work together as an alliance share some platform share some materials and drive lines and some technology that was the whole goal of having this sort of in public or typically you wouldn't see this type of board meeting you know announcing that where they just didn't behind closed doors not having carlos go in the next may or may not be a good fit and he's very wise man he saved for you know we saved mitsubishi nice a nissan and now they're telling him he's not invited to the party so i'm sure that

based on what the results are of this final situation in japan whether they convict or don't convict we'll see what ends up he made societies had enough of all three of them right let's move to number one troubled tesla they've hit the brakes on closing their showrooms they announced i think it was last week and then although it's strange that the bill had the showrooms open but then when you go in you're going to order online that seems bizarre to me but well who knows i guess is to see the car before you order online and at the same time they're going to increase prices i think on end of everything except for the model three do i have that right . right and now they've produced way more vehicles than they can sell they're talking about anywhere between twenty five and fifty percent cut in sales for this next quarter we're waiting to see the actual numbers because remember they were had to produce five thousand cars a week and now they're letting people's you know stay at home they're laying people

off and then last week in order to pump the stock prices came out and said that they're going to lower the price and close all their showrooms and they're going to save money and of course that pop the stock price just a little bit the f.c.c. is watching but then two days later he says no we're going to raise prices i'm going to leave some stores open so this is causing some confusion in the market and you're looking at companies like morgan stanley saying you know we're not it's not worth the risk to to invest in tussled they're saying that it's a bad risk and you're seeing other investment companies saying this it's because he can't make up his mind and every two days supposed to be monitored on twitter that isn't just post things and i'm sure the f.c.c. is monitoring this and i'm sure they're going to be calling him on the carpet after he keeps saying negative things about them i always say you can't be careful when the government's involved because they don't play nice i know it i was with the government i was there to help but not all of them work hey lauren we hope you come back real soon because there's lots more to get to look like lauren fix a car and thank you laura. thank you. and that's it for this time thank you for

being with us you can catch boom bust on youtube dot com so i won't bust artie so long for now so you. just manufactured sentenced him to the public will. when the ruling classes protect themselves. with the flaming. lips and neither will. nor middle of the room sick.

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this is this is a sticker from a water bottle found in the stomach of a fish the brand is part of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad was there the litter box or throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. as soon. as funding the. online your best bet is the end of it for the team but for now the mountains of waste only grow higher.

but it's not like oh. yes. you know what. this is the humiliating defeat for the government receiving prime minister barak's premier three. on one previously the single most curious amazed tweaked brags that plan is transplant m.p.'s who will next vote on whether or not to leave the e.u. without a deal. a new documentary reveals that supporters of the terror group islamic state have infiltrated a greek refugee camp where they rule with an iron fist.