this drug where her cocaine is where four bucks for the under fifty to everybody use cocaine. cocaine you can smoke it this is worth like fifteen thirty. twenty. score k two this is a bow a fifteen dollar big people smoke this one figures this will be you going to these drugs in any city in the united states but you walk along as you want to get about the. make money. and that's what i did every day. what politicians do. they put themselves on the line to get accepted or rejected.

so when you want to be president or injury. or somehow want to. have to go right to be cross with what will befall three of them or ten people that i'm interested always in the waters of our. city. and welcome to boom bust broadcasting around the world and covering the world of business and finance and the impact on all of us i've been one filling in for bar children in washington glad you're with us coming up alex held which joins us to drill into the data and how the saudi company bust in china on the heels of yet another global downgrade from the i.m.f. . well u.s.

representative alan grayson gives us his take on the trade turmoil in tariffs and finally chrysler has made a move to dodge billions in fines and their stock is reacting at a match the c.e.o. of the atom as trading group joins us to sift through all of the stock and some of the other moves in the market all of that directly ahead but first the headlines. and let's begin here with a billion dollar fine for a major london based bank it leads our global report today standard chartered moves to settle with the u.s. government over charges that it violated unilateral sanctions against iran the bank was also separately accused of processing payments for a bank that the u.s. treasury says has links to the self-proclaimed islamic state or isis and involvement in illicit transfers to cuba sudan and syria as well as me m r the full financial sanction for the bank will total one point one billion dollars it also resolves a five year investigation that focused in part on the bank's branch in the emirate

of dubai the settlement is also a costly sequel to the bank's deferred prosecution agreement or d.p.a. seven years ago with u.s. prosecutors in that case the bank paid six hundred sixty seven million dollars in fines d.p. able now last until at least twenty twenty one. the move on a case involving u.s. sanctions on iran also follows the trump administration's designation of the iranian revolutionary guard corps or i.r.g.c. as a terrorist group that designation places new legal obligations on bangs to avoid transactions with the i r g c expert trita parsi i told democracy now that the designation could cover as many as eleven million iranians. or political controversy surrounding saudi arabia is doing little to repel investors from that kingdoms or oil riches so get this last week of the country's oil giant saudi aramco pitched its first international bond offering and it looks lie. investors are more than eager to get

a piece of the pie get this saudi aramco bond it's already received one hundred billion dollars in orders yes billion with a b r d's alec's me a hell of a joins us now from toronto with this in the alley some big players coming out in support of iran calls offering here obviously you don't get one hundred billion dollars if they don't what are we hearing when it comes to the demand for these bonds. think about saudi arabia they were on the naughty list last year nobody wanted to touch them because show you have fair which the united states as well as other countries have said the prince of saudi arabia ordered the killing of that journalist and you have a yemen yemen the war they never ends it is one of the biggest humanitarian disasters that we have on the face of the planet ad the fact that saudi arabia for decades has been supporting wahhabi terrorists around the world you think you know what nobody wants a touch of this country but when people doubt lots of money they don't seem to really care they go where the money is and it seems that saudi arabia is the place

to be as you mentioned one hundred billion dollars in these bonds and look we're talking saudi arabia was looking at maybe ten to fifteen billion that's what it was hoping to raise got a heck of a lot more and there were talks the you know they came in last week a bunch of saudi exacts from aramco and their buddies from places like the bigger banks of the state so let's for example in new york they brought along jamie dimon from j.p. morgan chase the chief executive there he was pumping the tires of this company along with the saudi exacts and of course what we see now as people took the bait and they're eating it up the investors both the london and new york city seem to be very excited i'll be asleep this goes way beyond that now as i mentioned they thought they were to raise about ten to fifteen billion this is going to want gone way above that this is going to help the saudis big time as you probably remember last year with aramco there was a big deal that the sixty nine billion dollar purchase of sabich which is a petro chemical company also under the the saudi arabian state but they just got

a whole infusion of cash and a lot of people there is saying there are critics out there not only criticizing the things on the political side like to criticize like bad behavior politically but also they're saying that this is vastly overrated the whole you know the chase after these bonds event and that actually it's inflated but anywhere you turn it one hundred billion dollar. which is absolutely incredible for the saudis yeah it's hard to believe that it's not inflated that when you do have someone like jamie dimon coming out though and kind of as you said pumping the tires on this thing gives a little more credence i guess to investors but all of this kind of plane into the saudi crown prince mohammed bin solomon's plan he was to defer diversify he says the saudi economy when the nation of of oil dependence we know he's been doing that a lot of it's been happening in silicon valley is trying to get heavily into the tech space right. well exactly i mean m.p.'s must be rubbing his hands together right now this is a silly one of those wonderful moments rates where where companies like goober we

know that he's been big on that and that's exactly what he's doing trying to diversify what the saudis have moving into the tech spectrum as well. again the banks are now banks backing this and this is all bouvier towards one thing that m.b.a.'s has wanted to do and that's an i.p.o. with aramco this is a massive step in that direction especially when you've got the backing of international banks you know this sort of sometimes might leave a bad taste in your mouth when it's that political stuff and i could go on and on but look at the money is their biggest oil company in the world and the investors well they can put their blinders on easily when they smell the cash yeah and it's unfortunate on some levels because as you mentioned there's this humanitarian crisis that's been created by the saudis the worst in the world in yemen right now the purchase of weapons going to the saudis i mean there are a lot of moral issues associated with doing business with them but as he said investors don't really care that much about moral issues they care about that

bottom line artie correspondent alex the hell of it thanks so much thank you. well there is a new set of trump tariffs in the mix of global trade troubles this time aimed at the european union the u.s. treasury department announced late monday that they would impose tariffs on eleven billion dollars worth of the e.u. imports over a lingering litigation at the world trade organization that case involves subsidies to aviation manufacturer airbus well the e.u. won a favorable judgment at the deputy a last month on their claim regarding u.s. subsidies to boeing and e.u. officials told the wall street journal that they expect arbitrators to cut down the list of items that treasury targeted for terror of citing w t o rules and process in the meantime stock markets reacted unfavorably trending down on the news. well the global economy is losing steam and that is the word from the i.m.f.

for the in the international monetary fund the organization has downgraded global growth to three point three worry it is for ten slower than in october china and india continue to show the highest growth rate six point three percent and seven point three percent respectively but one of the biggest factors been cited by slow growth globally are the threats of tariffs by the trump administration as well as u.s. china negotiations whether you agree with president trump's hard line with china it is unquestionable that he is getting some results that many thought he was not going to get joining me now to discuss this former u.s. congressman of florida alan grayson thank you for being with me. here so u.s. china trade talks appear to be reaching their apex at least that seems to be the word right now what do you foresee as these talks finally start to wrap up here. i'm not sure they're going to i'm skeptical of that i think what the chinese were doing a very artfully is stalling president trump as soon as he took office started what amounts to a trade war with china and we've seen some activity in that regard but frankly

trying to spin spitting into the ocean when it comes to u.s. china trade relations is that we're talking about trillions of dollars of trade and billion here and a billion there just doesn't make a difference i think that the chinese with the election coming up next year have a strong incentive to stall and i think that's what we'll continue to see maybe i'm wrong if they do make a deal i've got a lot to give up i mean there are forty percent tariffs on u.s. cars sold in china for instance and they have been cheating and adopting work until his policies against united states and stealing intellectual property now for three decades so they can certainly give a lot and still end up ahead you know you raise a good point there you know white house economic adviser larry kudlow said recently that for the very first time china has publicly acknowledged issues of intellectual property theft cyber hacking force technology transfer the issues that you're raising we know that china has been cheating for a long time but for so long china hasn't really acknowledged it at least in these

talks they've acknowledged it but does acknowledging it is not quite the same thing as doing something about it right. well it's structural i mean first there is the headline grabbing attempts they make to actually literally steal our intellectual property i think that has less of an impact than what they do on the sly they force us and e.u. companies and other foreign companies to stablish joint ventures with locals and then the locals basically learn how to do what the foreign companies are doing and then set up their own shops and competition with them that's the primary part of what we've seen in terms of intellectual property along with the more obvious stuff that i mentioned before and i think it really doesn't accomplish too much it's nice that they start to understand how we feel but that's a long way from actually changing the system when you've got a system which is rife with state owned enterprises doing joint ventures with foreign companies that's not going to change overnight the five day forecast that we've seen for the stock market if we could put that up guys obviously we've seen

over the last five days or so some significant drop offs here looking at the dow jones right now and obviously kind of up and down over the last five days and then though obviously we hit tuesday as you can see there and we dropped off pretty dramatically as we're watching the stock market obviously that has been a congressman a huge talking point for the administration about how well the economy's been doing as we see some struggles right now and obviously this is just you know a five day forecast that we're looking at but as we see some of those dip some of those struggles does that put some pressure on the trump administration to rein in some of this talk about you know not only the chinese trade talks but also this discussion about now eleven billion dollars of tariffs on the e.u. . no i don't think so the underlying truth is that china has been playing a merc game now for thirty years what they do is they arrange for the e.u. in the united states to buy goods from them which puts their people to work and in

return when they pay for these things they simply buy. putting our people to work that's what mercantile ism does so their net result of that is in fact that we lose jobs and we end up deeper and deeper in debt and for better or for worse artfully or in order to fully the administration is trying to remedy that and that would have a positive effect on the economy over time and even a positive effect on the stock market over time in terms of the chinese and the e.u. separate from the united states they have finally drafted it looks like an agreement to reach an agreement so it's not a whole lot right now but it's an agreement to move forward on building something called an investment pact the draft kind of includes commitments from beijing to speed up talks and on industrial subsidies and opening china's market more broadly to european companies this is been a discussion congressman that's been going on for about a decade now do you think they'll be some progress there and will that impact the u.s. discussions with china. well it's

a dramatic contrast to what we're doing i mean trump and his usual fashion of simply bashing people and bullying them and trying to get his way that way in the us trying to do it through patient negotiation i'm not sure either one is going to work i mean china system is fundamentally different from the us system in the us system and it's kept their people prosperous and at work now for thirty years they run a half a trillion dollar trade surplus with the entire rest of the world if they didn't they'd have a system that's right for the unemployment they would not be growing at six percent a year they'd be lucky if they're growing at all so they have an incentive to keep the current system which works enormously in their favor in tact and i'm not sure going to be willing to change it whether we bash them or whether the e.u. patiently negotiates with them because they'll be negotiating against themselves if they do in the end their system works for them. the way it should be former u.s. representative alan grayson thanks so much for your insight thank you. for

a quick break but don't go away because chrysler has made a move to dodge billions and their stock is reacting to the c.e.o. of the trading group joins us to sift through the stock and some of the other moves in the markets and as we go to break here the numbers at the closing bell. are from the. hundreds.

do you think it was national. at. the plate. of the year. that some of those are from the schools from. their school one of these clinics one of the police. because the. machine tool might have to be smeared. all over the. phone with someone. because it doesn't look like you. need to. you know world of big part of the law 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 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 fringe banks societe generale has cut roughly eight percent of its workforce announcing that they will limit sixteen hundred jobs out of a workforce of twenty thousand the savings from the trimmed payrolls will total about five hundred million euros that's according to the financial times the union representing workers at the bank says about. one hundred fifty of those workers

dismissals will be voluntary departures from the bank's operations in france the french paper in the figaro published the first reports of planned cuts over the weekend the first detailed report of the bank's previously announced restructuring plans focusing on its troubled trading unit in a statement bank officials said that they will focus on financial engineering expertise that forms the core of the bank's d.n.a. . sticking with the banking sector now in turning from job cuts to wage increases bank of america has announced that it will raise its wage floor b. of a says a new minimum in-house wage of twenty dollars will apply to their labor pool of two hundred five thousand workers at forty three hundred u.s. locations the bank's wage floor is currently set at fifteen dollars where it's been for the past two years the bank's chief human resources officer sherry brownstein acknowledge the market pressures behind the move saying in the press release quote we are raising our minimum wage because we believe to best serve our customers and clients we need the best teams and quote many of be evasive rivals have recently

announced increase in their base wage as well as bonuses as tallied by the american bankers association on their website the raise at b. of a that will come into incremental with a quick boost to seventeen dollars per hour that will be in may followed by smaller progressive bumps until they reach twenty dollars an hour by two thousand and twenty one. chrysler has struck a deal with tesla to count the electric car maker as part of its fleet in the e.u. this is because chrysler was coming up against strict new emissions rules in the e.u. for twenty twenty one and that could mean billions of euros in fines instead essentially chrysler is purchasing emissions credits from tesla it's a similar process to how regulatory credits can be bought and sold here in the u.s. those credits will be worth hundreds of millions of euros for tesla joining me now

to discuss is at a measure of the adam s. trading group adam good to have you here thanks for having me appreciate it so we know that tesla has done this before making one hundred three million selling emissions credits and twenty eight thousand two hundred eighty million in twenty seven thousand two hundred fifteen million in two thousand and sixteen this is not new to them but really it's only a very small part of their business correct. right it is a billion dollars and selling emission credits that they don't need because their electric. but it's it's not a viable business model for tesla and feedback chrysler is the tory is for carbon dioxide emissions so this is a way to get themselves out of trouble or avoid fines but with stricter regulation coming in twenty twenty one i view this is a band-aid not a cure for them yeah definitely a bet it is kind of hard to imagine though a billion dollars worth of credits that you're giving away and it's not a viable business model however the move did affect chrysler stock how did that

happen. well i think when they look at it the market was down today so we don't know if it was the news or if it was the market so the stock to take a little bit of a hit but i think the reason why they didn't pop on the news was because again this is a long term solve they keep getting find they keep getting into trouble and they haven't found a way to avoid this so until they find a long term solution you're not going to see the stock reward them for this if they don't have an answer to it yet certainly not let's run through a couple of other stocks here as well when resorts stock down today after it cut off talks to acquire australian based crown resorts apparently the company is discussing it was like a fifty percent cash fifty percent stock proposal told totaling about seven point one billion dollars but that deal is now off right. it got leaked and wind was not happy about that or maybe they're posturing because they wanted to do it later but it got leaked and you know when has seen growth slow in macao so they were looking

for areas of growth elsewhere this was supposed to be it now they're saying the deal's off the stock did ticket today the market did not like this news but again it's possible that we could be posturing seo elite to deal's off and maybe they're just looking for better terms maybe so how about let's talk about a stock that's up you mention the market overall was down today but apple apple is doing something it has not done since two thousand and ten apple stock has actually gained for tin straight days now we know that that comes on the heels of all kinds of talk about the i phone not necessarily being the future of the apple now moving into the content creation industry and that particular fairly crowded field what's happening with them why are they up so much. apple is having a great year on the actually i'm most excited about you know we have the fanning acronym but there's a new acronym people are talking about and it's m.v.p. because master card visa and pay pal have been dominant stocks and apple has

a credit card of its own that's coming out it's going to have two percent cash back to doing the conjecture was goldman sachs and think about the perks you could get having an apple credit card i think there's a lot of buildup for that i'm excited i know i want one and i think that's part of the buzz going around apple they did also lower the cost of their i phones in china and they got upgraded because of that they weren't able to close positive so they didn't make that tempted they were up earlier still of twenty percent for the year versus market twelve percent so all things looking good for apple and i can't wait to get an apple credit card and then use my reward points to get apple products so i think that's going to be huge for them yeah let's talk about that for a minute because obviously you know this is a whole new area right apple products obviously that was their bread and butter for so long and even though apple still makes great products the development of their technology especially when we talk about the smartphone i mean for years i've

talked to people about the fact that apple was behind so many other smartphones while way phone certainly you can't get those in the u.s. so really but even samsung a lot of the technology that apple adopt into their phone is about two years behind what samsung is doing and yet the brand has been strong but now is the shift away from the brand in particular of the core products and they move more into these areas of content creation that's a big one and then also this area of kind of shifting apple pain to the credit card is is apple morphing into a totally different kind of company than it was even two or three years ago. the certainly using their brand to expand beyond the nine hundred million or so i phones that are out there and when you have that kind of a reach why wouldn't you. i'm assad has become the example of how to do that you look at whole foods they expanded to every business amazon started selling books apple started selling phones look at amazon now i think apple's looking at what

amazon has done and said you know what they've surpassed us they're bigger they're wider we can do that too so they're getting into apple streaming they're getting into credit cards and they are looking to not be product dependent we saw earlier this year when the i phone sales were down the stock took a big hit was down like fourteen points the next day and what do they do they turn around they start focusing on all these other areas of growth so i would never bet against apple certainly not a new binge and you mentioned amazon but very quickly you know amazon has become people like to say amazon is taking over the world right that's what it feels like is that the new about thirty seconds here the new business model for a lot of these mega companies is to diversify as much as possible. i think by definition we're all competitive so whoever you are you're looking at the person who is a little bit above you and you want to be them apple was the king apple was the king and now amazon's the king of us what the number one company in the world is nobody is saying apple they're saying amazon so with apple who are you going to

look to they're going to look to amazon and even though i want to scribe them as competitors the model of expansion taking over other areas is clearly a blueprint they're taking from amazon and you know with all the money they have in reserve there's nothing that's going to stop them from being successful and with the bond sale today saudi aramco would argue it's the biggest in the world at a measure the c.e.o. of adam is trading group thanks so much for being with me. thank you. well that is boom bust for today now remember you can catch boom bust on direct t.v. channel three twenty one dish network channel two eighty or streaming twenty four seven on pluto t.v. it is the free t.v. at channel one thirty two there as always you can also hit us up youtube dot com slash boom. our team will see about your tomorrow.

japan proves that you don't need interest rates above zero you don't need capital you don't need savings you don't need. you don't need inflation. people like united states are saying like well why can't we just be like you. i mean more doogan is an outstanding person because he took on the most powerful agency in this county or you'll be to stay if you look at it from the analogy. marc was the day that when he was fighting the goliath. do going to has been the sheriff's most contentious critically is the first time i noticed something wasn't right in fleeced work pretty much when i first started the corruption in palm beach county is not something that you can smell a thing like that it's a nod and

a wink it wasn't what i wanted to do. we've had more on all the shootings in this county then some states have had collectively drug and went to his website began featuring comments about gold his family the sheriff my dead man going to squash you like a bug you know i wish you'd stop clinicians general voting f.b.i. raided p.b.s. and critics house. i snuck out of the united states. into russia political. men they know bad wolf. best's drugs were her cocaine as were four books with the under fifty to

everybody use cocaine crack cocaine you can smoke it this is worth fifty thirty. twenty. two this is about a fifteen people smoke this one figures. you can find these drugs in any city in the united states that you walk along as you want to get it about to. make money. and that's what a day. early results in israel's general election show incumbent prime minister benjamin netanyahu leading over his opponent to benny gantz exit polls put both candidates in a dead heat with both men claiming victory. president putin dismisses the investigation into the alleged collusion between trump and russia in two thousand and sixteen

calling it total nonsense. the trumpet ministration fires a fresh salvo at its european allies pledging to hit e.u. goods with tariffs worth as much as eleven billion dollars u.s. says the movie is in retaliation for subsidies given to boeing up rival airbus. and kevin owen has today.