the tense situation in venezuela is still all over the news the problem in venezuela is not that socialism has been poorly implemented but that socialism has been frayed only temperament from the inside venezuela things look different we're going to announce sanctions against petroleum to venezuela so if you. have a son of a moment to. get out of some political battle psionic move to keep. the moment the focus of the who story isn't new makes him cold in henry kissinger to tell him that it would not be tolerated in latin america. an alternative economic and social system could take hold and therefore the policy would be to make. the chilean economy scream so want snowmaking the economy of

venezuela screed. i. this is a little biased broadcasting around the world and covering the world of business and finance team and the impact upon us all and daniel britto in washington we're glad you're on board straight ahead on today's program the trade war has taken another dramatic turn and this time it's taking a toll on tech party correspondents alex mahela and sarah monsters that bring us the latest on the banning of wall way in the united states and china's plans to retaliate and on that news tech stocks have taken tumble in response particularly smartphone manufacturers. trading one hand to sift through the latest stock moves

in several sectors and then you're back on the ground from consensus 2019 bringing you the latest on the future of watching a new platform or crypto trading all of that directly had a virtual hit the headlines go. a 1000000000 euros in fines for major names and finance leads our global report today as the european union's competition commission sanctions by banks for alleged rigging of foreign exchange markets on thursday e.u. competition commissioner margaret avesta announced fines against barclays citigroup j.p. morgan and u.s.g. japan's largest bank and while bank of scotland totaling nearly $1100000000.00 euros or $1200000000.00 the commission specifically accused the banks of manipulating markets for 11 different currencies over the past 6 years by sharing insider information and private chat rooms u.b.s. bank of switzerland was spared

a fine of $285000000.00 to $285000000.00 euros for informing investigators about what they knew of the insider collusion results nigger's said the. enforcement action would quote send a clear message that the commission will not tolerate collusive behavior in any sector of the financial markets. and checking in on the u.s. china trade fight the spokesperson for china's commerce ministry says they are not aware of any plans for any further trade talks with the united states spokesperson gulf effectively rebutted u.s. treasury secretary stephen minucci and who had said in a congressional hearing that its team of u.s. negotiators was likely to go to beijing at some point in the near future meanwhile china has noticeably reduced their holdings of u.s. treasury bills to their lowest level in 2 years in march chinese officials sold off $20500000000.00 worth of t. bills lowering their holdings to just over $1.00 trillion dollars over the past

year in china reportedly has reduced their treasury portfolio by more than 5 percent some market watchers have speculated that china may choose to more dramatically reduce their t.-bo holdings to retaliate against u.s. tariffs stay tuned. and the trade war has spilled over into yet another sector as president donald trump is sign an executive order effectively banning weiwei and other companies referred to as foreign adversaries in the united states here to take a deeper dive into the details our chief correspondent sara bunch is they'll go and alex mahela visions run so welcome guys let's just get right into it sara i want to go to you 1st you've been following this very closely all day 1st of all give us an overview of what this executive order does and what does this mean for the future of weiwei and other designated companies in the united states well i want to start by saying that that executive order does not officially name walk away however it does the government of the government bans basically these telecom and tech companies from doing business in the u.s.

now the executive order sites quote foreign adversaries are increasing creating and exploiting vulnerabilities and information and communication technology and services. now shortly after the executive order was issued the u.s. department of commerce actually added wall way and 70 of its affiliates chinese affiliates to some entity list as what they're called that basically this means that the u.s. cannot sell or transfer technology from wall way without a license and this makes it especially hard for wall way to do business in the u.s. now i do want to note that while we've competitors e.t.e. a chinese telecom giant had previously been added to that list in 2016 and that was later allowed to temporarily continue to have access to u.s. markets that is until president trump signed a law that rule that banned the t.e.'s so this is another chinese company. basically like wall way that's their main competitor but china has fired back and that chinese a spokesperson for the ministry of foreign affairs had this to say earlier today.

we've also been asking chinese companies to comply with laws and regulations in other countries where they do business overseas groups that however china resolutely opposed any countries unilateral sanctions against chinese entities under its own domestic laws the u.s. to halt their approach and to create conditions for normal business cooperation between lead on many occasions and to avoid further impact on china u.s. economic and trade relations and china will take further necessary measures will you resolutely safeguard the legitimate rights and interests of chinese enterprises . now while away continue to defend themselves and say that there is no evidence of any espionage or anything like that and that this could this ban could potentially lead to more serious legal issues interesting point where off the bat there's. clearly this move was instigated by the wall we situation but they put language in there not specific not naming them as a company but just generally describing this the kind of companies that will be

banned so conserve them again in the future for others similar instances alex you're in canada right now and from there we're getting news that china has formally arrested 2 canadian nash. who were already detained in relation to the wall wait case according to the foreign ministry the 2 are being held for allegedly stealing state secrets prime minister justin trudeau responded to china's move earlier today on thursday in a press conference in paris let's go to that but one of the things that we see increasingly around the world is that the chinese government is not following the same kinds of rules and principles that the large majority. of democracies follow in regards to rules based order in regards to international relations and we will consistently and always stand up for canadians particularly these canadians who've been arbitrarily detained but we will also make it very clear that we're not going to change our values or our systems including the

independence of our justice system. because china disagrees with our approach over the now alex what can we expect moving forward in what can we expect in terms of chinese canadian relations especially when you we've still got this situation where they can't a candidate is holding while ways c.f.o. the chinese chief financial officer. i mean by all accounts this is a tit for tat we're talking about a formal arrest of 2 guys that have been held since december and they were put into . incarcerated right after ming one joe was taken here in canada now the 2 people we're talking about are michael spouse or who is a businessman in that award with north korea and michael carvin he's a former diplomat this as i mentioned around the same time as the main one joe the weiwei c.f.o. was arrested here in canada she's still being detained us wants her extradited and she basically got the ankle bracelet on so people know where she is or the

authorities know where she is but for china i mean they've made a request after request for the release of mang one joe and canada have basically fallen on deaf ears here and nobody is real. asking to that in the question is your look at the what the prime minister is saying the rule of law that same prime minister we have a crisis with f.n.c. lab and here and people are accusing him of not following the rule of law then we have ralph good deal he's our public safety minister and this is what he said he said no evidence of been produced to indicate any validity to allegations made against them that them being those 2 men that are being held in china well how will allegations against manning how about any proof against may we haven't seen that we haven't seen any concrete proof and there's really no accusations against this individual the c.f.o. of wall way of doing anything against canada that's all deals with the us extradition request so when you turn a whole that stuff around and you look at what we have here is that we're holding somebody that there's not broken any canadian laws for the us this could be

extended process in the courts here in canada she can be here a very very long time and china doesn't like it yes it's most likely a retaliatory measure what we're seeing with these 2 canadians and china and things are getting bad our relationships are not getting better we were on the right track before all this went down we were on the right track to having more trade deals with china 2nd biggest trading partner and then after this u.s. extradition request everything went downhill from there and right sliding down even further down that hill right answer quickly back to you moving forward how does the wall way ban let's just call it that the way ban factor into this larger transpacific trade fight alongside the tariff escalations will this just complicate things moving forward well it's almost certain to say it's almost safe to say that trump took this radical step to show the chinese that he's not only willing to impose tariffs but that he's going to target something that's been a very difficult to manage very difficult issue to manage and to compromise with

what that which is intellectual property theft that has been according to reports a very difficult to compromise with and trump is not afraid to stand. to china and show that this national emergency the steps that he's taking he's willing to not only add more tariffs but now to ban chinese telecom giant wall way excellent updates there from our g. correspondents alex mahela bitch and sara month as do all good thank you both very much. and now with more on how these moves have affected the markets we're happy to welcome danielle shea director of simply trading danielle welcome back to the show. thank you so much it's a genuine check in on the telecom sector law knocked lots of news there after donald trump signs this executive order sanctioning companies who work with companies said to pose a security risk clearly wall way being reported as the wall we've been been interesting lee we see a rival company stock for rising on a run today how high did it go and what sloot long term outlook there. i personally

love arisan stock i think it's a great pick i also love the sector spyder communications e.t.f. that was created late last year x.l. seaver rise and is a part of that one of the main names i think it's an excellent long term pick i'm looking forward to break to new highs relatively soon and you know i think it's a great long term stock buy as well as a short term options trading interesting very very solid take there and also let's move on to apple a big name in smartphones but the i phone seems to have lost its magical power to make buyers to make users buy the latest upgrade when the late in the latest versions and their supply chain at the same time is being struck the strain may be broken by the u.s. china trade war is ample getting a balance from the one way boom. so apple is up slightly today but the problem with apple is that so much of its revenue is related to selling

a physical product which of course is the i phone and a lot of that is also tied to china so out of the fangs stocks this is the one that is going to get hit the worst buy trade now is it impacted positively today based on the way band yes i would say that's true but at the same time you're going to have those longer term trade or effects impacting apples so while i do like apple as a longer term stock pick in the near term i expect it to continue to experience quite a bit of volatility due to the on. and trade war sounds like that particular thing may be a bit of a loose tooth these days. samsung is also not in the news last week south korean investigators raided song factory and found laptops and other devices hidden under the floor of the meeting room prosecutors reportedly are looking into possible accounting fraud possibly related to the fight over who will

succeed as c.e.o. of the since samsung conglomerate that presume their lead j. young is already facing bribery charges what's the prognosis in outlook for samsung right now and how serious a threat is this investigation. so any time that a stock gets hit on bad news like this what i always look to is how long that's going to remain in the news cycle for something like this where you're going to have an ongoing investigation you may have more charge is that it is never good for the company and what i look what i look to is for that volatility to continue and still that situation can be resolved and since it's just beginning i would not want to touch it at this point until it's over. and just as we wrap up here we're taking a look quickly one of the turning earnings reports coming in recently wal-mart turned a lot of heads tell us what's going on with wal-mart. so right now wal-mart and

amazon target as well they're locked into a pretty large competition largely due to the e-commerce space right amazon came in and took over the e-commerce space that was really hurting wal-mart and at this point what wal-mart has been able to do through this earnings report is to show that they're e-commerce section of their business is growing exponentially and they're also working on adding grocery delivery to more of their stores that's huge right now and it's also another revenue stream for wal-mart no i think that the report from wal-mart was very pause. i think that wal-mart amazon and target are going to continue competing and i think that competition is excellent for the consumer because at the end of the day what we get is better services and lower prices and at the same time the stock is trading higher so i think that one's a great stock pick as well right and this seems like another example of some similar stories we've seen recently of u.s.

retail names big names in retail finally getting their online game in order and you know sort of making up some of the shortfall also i you know i made a online purchase just today and got sales taxes that's certainly helping brick and mortar to compete with online vendors now that online vendors are mostly having to pay sales taxes fascinating insight as always daniel shea director of options simply trading thanks for joining us. thank you. so i'm now for a quick break but hang here because when we return we're back on the ground from consensus 2019 bringing you the latest on the future of watch chain in new platforms for crypto trading and as we go to break here are the numbers at the closing bell.

and. this is a story about what happens austria stray bullets kills a young girl in the streets. what happens to her family and daughters in florida the mother daughter is buried in a cemetery it really messes with your head what happens to the community the public was screaming for a scapegoat the police need is a scapegoat so why not choose a 19 year old black kid with a criminal record who better to pen this than him and what happens in court be. shocked shocked as far as i feel. we don't know just from. the end of this trial unfortunately you. will

still not know childress. after the previous stage of my career was over everyone wondered what i was going to do next the ball different clubs on one hand it is the logic. fields where everything is familiar. i wanted a new challenge and the fresh perspective i'm used to surprise. i'm going to talk about football. or else he does think i was going to do. by the way what is that that's like here.

welcome back the u.s. department of transportation has suspended all commercial and cargo flights between the united states and been a swale the transportation department acted pursuant to a request from the department of homeland security or d h s in a letter to transportation d d h s claim quote conditions in venice while a threaten the safety and security of passengers aircraft and crew travelling to or

from that country the trump administration has escalated long running u.s. efforts at regime change of minutes way less citing a worsening humanitarian situation as calls for a coup against elected president nicolas maduro however exports experts point out that u.s. sanctions have only made daily what life worse for venezuelans and famed economist jeffrey sachs a summated that $40000.00 then. have died due to the predictable effects of u.s. sanctions on supplies of critical lifesaving medicines. and swinging to the west coast of the united states there is more fallout from last year's camp fire the most damaging in california's history the state of california has now weighed the blame for the deadly fire at the feet of the badly battered utility company pacific gas and electric or p.g. any this week california fire officials offered a scathing indictment claiming quote after a very meticulous and thorough investigation cal fire has determined that the camp fire was caused by electrical transmission lines own operated by pacific gas and

electric located in the polgar area the company which has already filed for bankruptcy protections earlier this year saw their stock take a major hit over the past month particularly in the last few days after news of the state investigation broke p.g. and e. cited an estimated $30000000000.00 in fire liabilities prior to their bankruptcy filing. and social trading platform ito has made waves with their mobile app which allows users to observe the trading behavior of peers and high powered traders but in 2017 the company changed the trading landscape by adding the ability to trade crypto currency on the platform during new york block chain week artie's branch abor sat down with ito founder yoni assia to discuss the correlation between traditional traders and those dealing in corrupt. tell us about the toro you toured today is the world's largest social critic network we have 10000000 users from more

than 100 countries who trade stocks commodities indices currencies and crypto currencies in a trading platform where everybody can see following automatically copy the top traders from all around the world and how did you make that leap because you got started as a traditional investing and then you made that move into the cryptocurrency space so it was so we made the move road to. 2013 so early in the i mean that's relatively early in the as so we started trading in bitcoin and we sort of experimented with 2011. so luckily for the company i actually bought like $50000.00 worth of bitcoin at $5.00. so those are going well for you today as we're at about 8000 that's very well now it's already spread across a lot of different currencies but then we added bitcoin into the platform late 2013 and we basically launched it on the platform we had their users treated but it

was relatively low demand for it for a while also just before mt gox when. we saw the 20141516 very quiet years like 2 percent of our users actually were trading crypto then in march 17 we added. i think it was $6.00 to the platform and then it started sort of going up to $400.00. and that sort of started spreading like fire across europe in asia. then we started adding more and more crypto as we have now 15 crypto currencies in this trading platform we recently launched the toro x. which is. to exchange and tokenized assets exchange and we also launched a wallet which enables you to take your assets off the tour platform and basically

send it to your own called storage it's and on chain chain crypto water now there's there's companies like robin hood out there that do traditional stock trading and then now they are getting more into the crypto game would you take that as kind of a nice note to say hey they're kind of following our model of how to do this. i think generally you know our view is crypto is a great asset class. you should manage your portfolio across multiple asset classes and i think that eventually the traditional capital markets traditional brokerage and crypto markets will converge for the mass market so we're happy to see sort of more participants going into this space i think generally it's good for the space to have potential if you don't see coming in coming in hopefully so we're going to see more players traditional players i think going into the space over the next 2 years and how many users does he have right now we have 10000000 registered users

and so you think that the like you said you know there was kind of a slow build to people trading the crypto the new platform where they were you know doing traditional trading there do you think that you guys helped that movement because you've made it accessible to people who just were used to trading on the market i think we definitely made it accessible to a lot of people who are less tech savvy. so we ordered to work with the most of the crypto exchanges you really need to understand how to hold your own how to transfer a crypto assets were the platform is a really simple and easy user interface for you to on board very fast to fund your account with a credit card debit card or wires and then you can simply buy crypto as fast as you can buy stocks on the tor. have you noticed specially in your platform where you can go straight from traditional trading to crypto trading and kind of you know you sell one by another and it's pretty easy because your money is right in the same

place are you seeing people invest more in crypto right now as we look at a little bit about the markets. and certainly with the trade war and things that are happening with china here in the u.s. we're seeing a very significant pickup over the past week of trading on the platform a lot of people who are. we see them sort of coming back in trading more actively now. so i think the new hope in crypto is working out and we definitely see both new customers and existing customers trading much more and like you said you talked about you know fidelity and all these i mean are we seeing an acceptance of crypto trading in the standard trading class now where they're like you said there's a diversification of your portfolio that you should always have i think if you're asking whether sort of the traditional financial ecosystem has already accepted i don't think so not yet in most places financial institutions are still sort of very

skeptical about crypto i think fidelity is the odd one out to a very large financial institution founder of family led that's passionate about crypto which is great but i think we're still going to have a process until normal crypto people appreciate crypto as a real asset class and what is going to take for that to happen as a just stability in the market stable oil and things like that or is it i think it's stability price and. so i think the higher the price and stables as it gets higher for a longer period of time people will accept it as something that needs to be a part of your portfolio the traditional financial ecosystem is very conservative so when they see something going from $20000.00 to $3000.00 and then have it people in real roubini keep on saying it's going to get to 0 scares a lot of people but if you know 5 years from today we're going to be with bitcoin

to $50000.00 or maybe $30.00 to $50000.00 range for 2 or 3 years i think at that point people will accept it as an encore related asset class that needs to be a part of the portfolio. and finally turning to the world of high end art auction. a new record has been set for a price paid for a work by a living artist rabbit a 3 foot mirror metal sculpture resembling a mylar balloon by the artist jeff koons sold at christie's auction house for more than $91000000.00 after fees its mr coon's a 2nd turn holding that title which he 1st game won a similar work balloon dog sold for more than $58000000.00 in 2013 koons was temporarily to the throne last year when a painting by david hockney sold for $90300000.00 the win it winning better in this case was won robert minucci and if that name sounds familiar yes robert mitchum is

the father of u.s. treasury secretary steven chu and that's it for this time you can catch boom bust on direct t.v. channel 321 dish network channel 280 or streaming 247 on pluto t.v. that's the free t.v. channel 132 or as always have us up at youtube dot com slash you must start to see you next on. donald trump's national security advisor john bolton a clear and present danger to america and the world saber rattling in the middle east particularly against a rand should concern us we are forced to ask a fundamental question is the primary architect of trump's.

outcry from liberty county french intelligence chiefs quest. 3 journalists over a leaked. french weapons in the yemeni conflict. human rights advocates raise the alarm over the u.k. defense secretary amnesty proposal for british pressure and saying immunity for criminal offenses sets a dangerous precedent. and a legal legacy of the u.n. warns of fresh fallout from a former u.s. nuclear test site in the pacific ocean we hear from a resident of the marshall islands the cleanup of the entire complete that

is just. the radiation and i think this thing out.