i'll be back around 30 minutes with. petersburg international economic forum is a unique event in today's business world. over the last 21 years the forum has become a leading global platform for discussing the key economic issues facing russia emerging markets around the world thousands of business community members attend the forum to address today's vital issues. watch our special coverage on r.t. . this is a story about what happens auster a stray bullet kills a young girl in the streets. what happens to her family and daughters in florida the mother daughter is buried in a cemetery in healing this is with your head what happens to the community the

public was screaming for a scapegoat the police needed 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 our society. we don't know she'll just focus on. the end of this trial unfortunately you. will still not know what children. they were going to see that happen to the souls of 14 it was most feet with a moment forward through all the previous governments the need for more for the bones the old boy rich to 40 years the country people wanted much more.

freely with europe they wanted for it to become part of. this is very far way to go still in ukraine. this is boom boss broadcasting around the world and covering the world of business and finance an impact upon a song. and i'm proud. washington d.c. and as for the program today. i will shortly be the owner of my life to host. the 2nd female prime minister but certainly not the last.

i do so with no ill will but with enormous gratitude to have has the opportunity to serve the country. mayors and they are early as the british prime minister has announced her resignation as brags that negotiations limp forward a ford wedge of the british american business association joins us to give us a look at what we can expect going forward in the negotiations and it's that time of the week where we break down global markets from asia to the streets after a week full of turmoil and finally talk all the time about the financial uses a block but what about the social impact of the pentax. change founders fund really think of the details we have a jam packed show today. an early end after a long wait leaves our global report today as u.k. prime minister to resign may admit she has failed to deliver bragg's it and sets a date of june 7th for her resignation as prime minister ms may will remain in the

parliament of her she leaves 10 downing street and her conservative party is expected to choose a new leader by late july ms may has been seen as a caretaker leader for some time but was affectively told her time was up in a meeting with the so-called $922.00 committee after fellow conservatives began pushing once more for her to step down and her final push for her brags a plan to revive failed to reverse the trend of fading support here to dive into the details contributor hilary for which she market we welcome back. so hillary 1st what is the market reaction right now so far and more specifically how is the pound behaving in the currency markets after the new christy actually today it was up fractionally it ended the day a little bit down but it was a point why. percent against the euro so i think actually what you're seeing from global markets is that everybody has really everyone is really baked in and no deal business leaders have thought for a long time that the politicians simply aren't going to get this done the mayhem

that exists in the political arena has not existed in the business and it actually has held steady and you look at the unemployment in the u.k. actually at an all time low still since 1983 it hasn't been this low 3.5 percent so remarkably while you have political turmoil may have actually the palace down pretty well if you think about holding steady when it's been the reaction from the european leaders to may's resignation they certainly had a lot of time to think about what to say when she goes yes they did actually i think one of the best reactions has been from mark routines the dutch prime minister of course and he called and he thanked her for all that she's done to work with the european leaders and he actually is very admirable when he says that obviously the dutch and the u.k. worked very closely together mark raul has put his foot down yet again and really wants to know you know what are those british leaders going to do and then overall the european commission are young he basically is sick and tired and weary of british leaders not getting their act together hillary the 1st question i would have is how does the may resignation affect this dreaded prospect of

a new deal especially when conventional wisdom seems to say that former foreign secretary boris johnson is the leading candidate to succeed and he today wasted no time in staking out a hard line position on briggs he reportedly said we will leave the e.u. on october 31st deal or no deal so really taking a hard line there is just a bad winter for now but you know what it does this might make the dreaded prospect more likely of a no deal well actually the dreaded prospect daniel is more actually fair and and gloom and doom that lots of people have actually sort of put about there but i don't think it's actually as bad as a lot of leaders say it's going to be the number one number 2 in terms of course joe johnson yes on live brooks about a month ago had him a 6 to one prospect of maybe being the future leader about. remember this there hasn't been haven't been many very many leaders that were in the lead initially in this whole situation on this close to an election think about david cameron margaret thatcher neither of those were in the lead and they usually they can be

a lot of changing at the last moment so i wouldn't say it's necessarily boris johnson what i would say about boris johnson is what everybody wants when i speak to global business leaders all the time and basically the whole of the u.k. is feds are up and wants to move on from what the u.k. wants and the person that's going to be the most likely to lead is somebody with a clear vision somebody who's going to get this done and boris johnson certainly has that i would say the caviar about johnson is he has lots of people sort of fearing that we'd be in safe hands of him because he doesn't have a much of a track record for that sort of stability or safe hands that's the downside of boris johnson. on the timing of this notice we chose a dude that will quickly follow your president terms visit i have to wonder if she probably did the math and realize that she was already teetering and wasn't likely to survive such a controversial engagement dessert some don't worry it does daniel the only thing i would say is actually from our perspective of a deal with trump and the hosting trump obviously you have the stability of the

queen and the queen went to meet with the american ambassador with johnson quite some time ago and there is that instinct one has that major deal could be done and this will save sort of save the great relationship will save the u.k. but yes you're right she knew she was not going to survive she knew she wouldn't survive it is a great pity that that leader couldn't be picked now bottom line they will close the balloting with the conservative party on june 10th after his visit and that would be the balance in terms of potential leaders then they will be going back and forth with amongst ministers over the summer so when parliament reconvenes at the end of july then you will have a new leader it's a pity that couldn't have happened before transfers it but don't forget trump is very unpopular in the u.k. and actually whoever is the leader wants to do a deal with trauma but that's a very young. it looks like one of those cases where some temporary turmoil might actually lead to greater stability than the status quo i actually would say the bottom line of all of this is yes the fact that may is going is much more likely to lead to a concrete outcome rather than this war feeling like of depression

a lack of a final yes or the course johnson has come out and said no matter what it will be by how we excell an insight as always from what he forwards of the british anxiety also thank you kristie. china's largest chip maker as some i see surprise the markets today as they announced their withdrawal from the n.y.s.e. and a 15 year listing in the u.s. the delisting is expected to happen june 30th as they cite a low trading volumes of its a.d.r.'s and the cost of maintaining the listings were too high going forward as some i see will only trade in hong call this sudden move comes as the trump administration is stepping up its efforts to cut off its technology from china with trade negotiations between the 2 world superpowers at a stalemate just a few days ago white house chief strategist steve bannon had said his ultimate goal is to shut out china company from american capital markets it would appear that

beijing is actually doing him one better as some i.c. is worth $5400000000.00 and is not only a chip maker a leader in china but is also has a big footprint in the u.s. to investing heavily in infrastructure for a joint venture with qualcomm in 2015. saying there is more challenging economic news for president address manuel lopez obrador of mexico as the latest official figures show the mexican economy shrinking in the 1st 3 months of 2019 the national statistics institute has affirmed their initial finding that the mexican economy contracted by point 2 percent in q one and revised their q 42018 figures to show 8.2 percent contraction. true national figures show g.d.p. growth for that quarter of 0 the revision and confirmation together would seem to suddenly show mexico in a recession defined as 2 straight quarters of g.d.p. contraction at the same time year over year comparisons show

a 1.8 percent expansion when q one of 2019 is compared to q one of 2018 and mentally analysts say the weak growth may in fact make the mexican bank more comfortable with the stimulatory cut later in the year in interest rates still the new numbers and the reward economic circumstances they reflect will make lopez obrador stated goal of growth of 4 percent in his 6 year presidential term even more challenging than it 1st appeared. the us china trade war has dominated headlines as a whole week so let's see how effective the global markets let's start off here in moscow with the molex up for the week on gains after russia's finance ministry sold $1440000000.00 worth of ruble denominated ofc bonds which have actually received significant foreign demand the see there over in asia now after last week's escalation of tears between the u.s. and china and huawei bands no new trade talks have been scheduled the 2 world superpowers are at a stalemate and it's kind of looking like a game of chicken to see who fled just 1st the market is suffering as

a result but the shanghai hung chang and the nikkei all down for the week shanghai is down one percent saying 2 percent nikkei down half a percent huawei announce that they have been actually prepare for this fall out and they've actually stockpiled at least 3 months worth of chips traders though are cautious in the market and this is actually starting to look like the new normal over in india in bombay the sensex actually reached an all time high this week as prime minister narendra modi sent a landslide reelection victory the sensex reached 40000 before falling back as traders are optimistic of the upcoming reform agenda over in australia the a.s.x. is up slightly for the week led by the. mantel sector as scott morrison delivers a coalition win then over in south africa all shares that in johannesburg and up to the week slightly down as the reserve bank held the key interest rate at 6 and a half percent while cutting the full year economic growth forecast so overall it's

been a mixed week here as certain countries prove to be more resilient than others and the midst of all the drama taking center stage now over to danielle in the europe and america thanks kristie starting in france a red arrow for the cac up and down earlier in the week and waning thursday and friday with weakness in the energy and finance sectors to end down for the week in germany the dax also down for the week following the trend and done with chrysler stock noticeably fell sharply in the 2nd half of the we contributing to that outcome over to the u.k. the footsie also down for the week in a very bad week for british stability jumping to the americas in colombia the coal cap is down for the week with a few finance sector among the factors contributing to that in brazil that is up for the this week despite some bad economic figures earlier in the week to the united states where we see the new york stock exchange the s. and p. 500 and the tech heavy nasdaq all following the trend down for the week and finally

we end in toronto with the recovering slightly earlier today but still down for the week. time now for a quick break but hang here because when we return we top all the time on the program about the financial uses of chain but what about the social impact of the alley mojave on the block chain founder into the details and as we get a break here the numbers at the close. there's a cyclical nature to things there's the globalisation there's globalisation there's the lowering interest rates there's rising interest rates so when the interest

rates rise. the impacts it is said will be instantaneous. historically to accuse opponents used to claim that there are 3 issues. too poor to big and to refuse to muslim the fact that we were too poor is no longer correct because our per capita purchase very is higher than some of the current do you member countries. you know world's big partners who blogs 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 smarter we need to stop slamming the door on the shouting past each other it's time for critical thinking it's time to fight for the middle for the troops the

time is now we're watching closely watching the hawks. iranians have often turn to crap those in order to evade the stringent us economic sanctions but this week the escalating pressure campaign of the us against iran has prompted local big quine's the biggest peer to peer big point trading platform in the world to shut off service foreign based users' legitimate crypto use as a minor is in iran have been cut off from most international exchanges already last year as sanctions went into effect but local bit quiet one of the last 60. and as that held out until now this leaves many angry and frustrated as the government prohibitive approach is fundamentally contrary to bitcoins very decentralized inclusive polaski in its truest form they coin is a global network that knows no borders colors or ethnicities when an exchange like

this local bitcoin bans iranian users is basically downgrading its applications to that of the currencies. as we see in iran and around the globe cryptocurrency has countless uses in the realm of finance even hypothetically avoiding sanctions but what impact could it have socially recently we sat down with all the 100 g. of the blotching found respond to talk about the technologies uses outside of fin tech we began by asking him how want change is being used to fight poverty and how it could be used to bank the unbanked. absolutely so there's a number of ways we're can help the unbanked and so if you break down the categories we're talking about being under banked and then thing to population and where can block fit into this and there's there's 2 things that we're looking at we're looking at the cryptocurrency side which can be used for what we're calling

digitally map which is essentially a central bank piece to block change the skirt see and then we're also looking at things like trade currencies and regional currencies that can create a fish in seas and help to improve the situation of how money is used and then on the block chain side we're actually looking at things like land registries we're looking at identities and how can that help to create more trust and transparency within systems to help bank on your banker and bank populations in taking that a step further there's even a side to this that doesn't directly touch the consumer has significant impacts on how consumers how their lives operate and so as an example of that there are some. this is one of the biggest identifies one of the biggest challenges globally on financial inclusion and what do you risking as is it's essentially were global banks don't want to work as much with developing country banks because of

a lack of transparency and because of concerns of violations of k.y. caesar know your customer or anti money laundering. counter finance terrorism and what blocked change can do is create a layer of trust and transparency through an immutable ledger of recording all of these transactions that are happening with real time visibility from these global banks and what that'll do is actually ensure that global banks can keep and develop and nurture those relationships with developing country banks to then further improve things like banking lending and other banking related services to individuals in the developing world so this has a huge impact on solving some of the underlying issues in the banking sector. i'm so glad you mentioned k y c n n your identity is such a critical part of who you are and your digital identity that's an entirely new

frontier where all the time with our like physical identity here in the world with our driver's license passports but how can we track someone's digital identity online. yeah that's a great question right and so we're tracking someone's digital identity one of the issues right now is when you have a physical identity you can go to a bank or somewhere and you can actually show that physical identity when you're online there is that layer doesn't exist right so what you're doing right now is your generally keying in maybe there's a photo taken in and a photo taken of your passport or your identity and that can actually be very easily photoshop to match you know for 22. as you can get around a lot of these digital identity checks and with block chain paired with other technologies we're pretty excited and so if you take for example bio metrics so think about a live. video of an individual for

a few seconds and being able to ensure that that's the correct person so motion capture or biometrics with fingerprints these are the sorts of things that are really exciting to be able to pair your physical identity with your digital identity through something like biometrics but i think what's even more interesting as well from from a u.n. perspective in talking with the developing world is a lot of countries don't even have identities i mean they don't actually issue identities to their populations effectively and so you've got over 1100000000 people around the world without identities and in this day and age without an identity you could argue that the person doesn't exist they can't travel effectively they cannot access banking or lending or other sorts of services and so this is where even without the physical identity we're exploring ways where potentially individuals could actually almost leapfrog and create a digital and physical identity that's come out using things like facial

recognition technology which is good enough in this day and age to be able to leverage in that way and at least have an underlying infrastructure level to be able to start mapping transactions are things that these individuals are doing to start building credit and trust which right now can't be done and so this is pretty interesting development to see paired pairing block chain with facial recognition and on how we can try to get around some of these issues. now while we moving from sort of individual privacy and security to organizational and corporate security we saw one of the biggest crypto exchanges finance was breached what is the specific instance tell us about. what needs to be improved in blog change technology security and what can what what's working and what needs to be improved there. yeah that's a really good question right and so from my understanding of the hack i mean by

nancy the exchange is actually not necessarily on a blog chain layer and so from my understanding there's a number of phishing attacks people essentially got individuals passwords and access to their account through a.p.i. and other things to be able to essentially move out of those accounts and so this i think is a little bit of a different issue looking at security on. a layer however where it is interesting is talking about how do you help preserve funs on it from a crypto currency standpoint if countries were to move to digital currencies and the likely scenario if countries were to move to digital currencies would actually be a semi centralized my decentralized currency so they would have the ability likely to you know potentially reverse transactions if there were major hacks i think that

might also raise other issues so it really depends on which way countries go but i think it is something interesting to consider where potentially that could be done from a governmental or a central bank perspective looking at this from a consumer perspective maybe this adds a lot of challenges and a lot of concerns around the ability for governments it really depends on how this plays out from the currency side and even if it couldn't be reversed i think there's a lot of ways even that violence is looking out right now that helps to prevent these hackers from being to liquidate these so partnering with other exchanges and helping as a community to self regulate to ideally stop some of these issues around these hackers being able. to liquidate defiance and ideally even be able to identify them at some point and apprehending them. facebook is finally also joining the crypto party despite mocking it and banning crafter ads

just last year the social media giant and now they will be rolling out its own coin the global coin in 2020 in order to capitalize on the facebook marketplace that will allow users to make online purchases directly on facebook the company is looking to raise as much as $1000000000.00 to fund the crypto stable coin project and they've already been engaged in talks with visa western union and master card to gauge interest interestingly enough they've also been in contact with gemini exchange which is run by the winklevoss twins to prepare for a 3rd party custody solution and we all know facebook sordid history with a wink of us facebook also plans to start trials by the end of this year will be really interesting to see how it takes off as their reputation of mishandling user data with the scam bridge analytical scandal and the latest breach are really big red flags to think about if they mishandled your personal data do you trust them with your money yeah you can see were it where they would be compelled to do this

you know if they can get a western union master card involved those are big names that might give people a sense of security with it but you know after these very recent scandals and then you know it just doesn't look good in them and then to get the twins involved in this is pretty seems pretty bold as well i saw the social network i know the story that you know the. book was famous for taking their money and running as a jury so to get them involved i'm not sure if this is going to fly i don't know if people will be will feel comfortable with this exactly and they're not taking any benefits of either like the decentralized aspect of it or the end and every aspect of a crypto currency so to me it doesn't really make much sense to me like this is going to be centralized on facebook you loses the entire benefit of having a dissent. so what happens if you lose access your wallet facebook basically owns your money and there are no all good points. so bad that by this time you can catch boom bust on direct t.v. channel 321 dish network tell it to 80 or streaming 247 and put a t.v. the free t.v.

at 132 or as always one is up at youtube dot com slash will most r t see you next time. please. 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 great only implement from the inside venezuela things look different we're going to announce sanctions against petroleum to venezuela associate. famously have a son of the moment please. get out of that protocol and down to the sea on the path to the mud the moment. the hose story isn't new nixon called 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 wants and making the economy of venezuela screed. if you will not obey the voice of the lord your god will be to do all. that you. then all the shall come upon you and overtake you. and the people the. only.

people being tortured to death. in the. white. means. all. through the. civil war in south africa. be in the.

in a change of attitude mainstream media now warn of the dangerous precedent being set for journalists by washington's intensified. u.s. president. sending more troops to the middle east. to the region in order to keep iran in check.