year and see c.b.c. will manage its business operations the people's bank of china reacted quickly injecting 150000000000 yen through open market operations in order to increase the supply of short term funding to banks this is the 1st bank seizure in 20 years and investors are now questioning the quality of the bank's assets and the possible contagion risks if it were to liquidate those holdings small banks like are subsets of all to economic slowdowns because of their risk management capabilities can't keep up with their pace of growth their aggressive lending practices are now coming back to haunt them as they're severely overextended much of the overextension and slowdown stems from the trade war being waged by the united states and it's not just hurting operations across the pacific right here in the united states several sectors have been slammed by the shipping stalemate most notably agriculture which has seen a drastic grow in its markets here to catch us up on the wealth of the test is our key correspondent alex mchale it so alex the drunken ministration has been greenlit

nearly $30000000000.00 in bailout money for u.s. farmers are being hit hard by the china u.s. trade war we also know that american made machinery used in agriculture is taking a few punches as well what can you tell us. well as you can imagine the agricultural industry goes beyond just the food that we know there's companies that build machinery so that food can be created for us one of those companies is john deere or deer and company have gone down in the past couple of weeks we're going to bring you up a chart just so you can see what that actually looks like and it's quite frightening i mean this company the star filled more a more than 20 percent below the 52 week high which there was this april the stock was at over 169 bucks then a dip down to 135 a couple of fridays ago now to cover slightly hovering around $139.00 now john deere says this is due to the leading trade war between the u.s. and china if u.s. farm goods are not being bought by china. obviously u.s.

farmers don't have money to buy the equipment that they need or to upgrade their equipment total trumpet and tweeted a while back and said you know what just buy more american if americans buy americans you don't have to worry about the tariffs well it's hard to buy american when you don't have money in your pocket specially when these goods are not being sold simply because the farmers don't have money and also on the other side of things these goods have gone up in price from jordan deer to manufacture their tractors and cetera they need steel and guess what the u.s. has or had tariffs against that that was steel they still do in some places and that means that steel prices are more expensive then obviously that goes to the manufacturers and that manufacturer has to come to charge more for whatever they've built and of course who ends up paying the most of the end that would be the consumer and this case more than likely a farmer now alex when it comes to made in the usa agricultural products trade war

is certainly a big factor at the service level of things but there's a lot of other factors affecting america's farms what else is going on in the mix here. i want to talk about one big one and that's african swine fever i mean that ties us right back to china when it comes to the u.s. that that virus is they're saying it could kill about one 3rd of all pigs in china china happens to be the biggest consumer of pork as well as the biggest producer china produces more pork than the e.u. and america combined prices for pork of a ready gone up a worldwide some countries are you going to find it is a 40 percent higher than it was before just because of this buyers so when you're looking out there think of well you know what china is getting it's losing its pigs it needs to fill those gaps someplace that could be good for the american farmer but with the trade war the way it's working right now it's not translating in that direction what china's going to have to do is actually go to alternatives possibly they're saying chicken can go up and the u.s. . could play

a big part in this if this trade war goes away there's companies like beyond meat that are making alternatives to pork so if this thing continues hey they could jump in but it's all up to the trade war or dissipated and eventually going away that the american farmer can cash in on this awful awful circumstance that's happening in china and beyond thank you so much eric a correspondent alex mahela us we appreciate it. thank you. turnings of aftermath of the european union elections italian deputy prime minister material salvini is already making a play for the role of leader of right wing forces across europe and picking another fight with the e.u. over budget rules mr salvini has already has called for the radical measure of a 15 percent flat tax on all income which would cost an estimated $30000000000.00 euros according to mr sell meenie meanwhile the european commission is set to

release a report that will lecture rome about failures to adhere to the preferred budget limits and the means on mr salvini and and his coalition partners of the 5 star movement will have 2 days to respond to a letter from the commission european commission protesting failure to comply with european budget rules the italian government could be fined 3000000000 euros by the commission for the budgetary breaches. and staying in europe for a bit for a bit more on the e s latest elections we are joined by the former 1st minister of scotland alex salman who joins us from our u.k. studio. first of all you're the you're the expert here so will open it up what's the biggest story as you see it coming out of these e.u. elections. well let's take the u.k.'s and i'm speaking from london the big story there is the success of nigel farage is new but accept party which has swept into the leading position in english politics this caused

consummation in both the ruling conservative party of the opposition labor party the conservatives are no engulfed in a leadership contest in the labor party have just engulfed so nigel for as its success is the big story and coming up perhaps in the media even more successful than nigel for in england is my old party the s.n.p. in scotland swept the boards not for the board of that brings the prospect of another independence referendum for scotland but firmly on the agenda. and there was some very good point to make about the rise of the braggs at party and your scottish national party the other tracks of analysis i've seen have said well one that the right wing. increased from last time around but has not as much as may have been expected and also that the greens seem to be getting a significant amount of the votes that are bleeding from the old social democratic

parties what about those 2 points of analysis do you think those hold up. yeah that does i mean steve bannon they know who was trying to instigate this right wing subject clause you know be must be in mourning today because what actually happened there's a lot of the center right the european peoples party lost about 40 any p.e.'s in the european power. as did the social democrats another 40 the bulk of these were well not won by the the far right parties as steve bannon would have wanted but won by the liberals and the greens on the left wing autonomy parties across europe they want to 70 seats between them and that left only very poor pickings for the european right too had been expected to make rapid gains in some countries like italy then rather well but in most countries they did very badly. very good analysis there and you know taking a look closer on

a country by country level you know we see in germany for example or the alternative for germany notably saw their vote total fall from 13 percent last time around to 11 percent on the other hand in it only mr silva needs league party doubled their vote from the last cycle to 34 percent what do you think accounts for the diverging prospects of those 2 apparently similar far right parties. where the success of the greens and germany was the big story of the night in europe's most powerful country and the success of senior salvini successful for his legal party is not all that it seems because of the leader doubled their support to over 50 percent their partners and government the populist right wing 5 star movement their support was hoft so it tells of the overall balance of italian politics it's a bit like care the rearranging the deck chairs the latest move forward 5 stars

move back there that some portend for the future of a talian politics but it's hard to go into the valley around the rest of europe. so speaking of mr salvage any he already famous to be leveraging that strong result to make a play for the role of the leader of the european anti e.u. forces can he take that role and well we've seen work confrontations with other over the budget austerity roles and not just from italy. you are not a chance because he doesn't have serious allies some in these trying to ally with the bo galleon strongman but you know that's not the center of european politics madame le pen is has flying and of course she won the popular vote in france but by less than she won it in the last european elections and there were there were 5 nigel for rise in the u.k. which of course would be fine except niger for. unlike your salvini is to get out of the european union so it's very difficult to ally with suddenly to take over

european politics from there on their way to exit the scene so i think it's going to be sorely disappointed to present himself as a a major european figure that doesn't mean of course that he doesn't hold the initiative in the tally in politics which right no he's certainly does. so right now what will be the european business classes take away from these elections really quick. well i think great relief because the right wing served was widely expected and much touted so i think leigh establishment mutable be pretty pleased i mean. but weber chances are not as odds on as there were to become the next european press that some people particular the french president talking about michelle golland the barmy the european negotiator michel barnier supportable of candidate he's up to 2nd favor in the betting so there might be some gestures

towards the liberals the old the group and towards to greens but basically not 2 months in jail. a lot of people would say you know it's for those jew awfully between the same to write them the same to left the have at least a sprinkling o. some other voices that loops like the result i think will be sighs of relief in most of the european capitals excellent insights on europe from the former force 1st minister alex salmond thank you very much for your time. a great pleasure. time now for a quick pas but just on the other side the bitcoin ball is back on the run but what's causing the. later i'll take a look at where we stand now and what's driving the run and as we go to break here the numbers that the club.

of suffered another humiliating black eye and bloody nose all across europe voters put the leads on notice the status quo is not working for the people the surge to the right in the rise of populism may be a game changer. in orwell the state. in. our present day or well before. we put in that we install the cameras on the next cameras in our doors and pieces and. devices in our heads and in our homes with another of these mass surveillance technologies that's the difference between orwell and today it is

the worst nightmares would never think that we will imprison ourselves. this footage is unique because the zoe tribal lands a normally off limits to the public eric's allowed in because he's this. people here know him simply is don't to eric he's rich famous some always on the move save some flying in a craft that is its. own . he's considered one of the best neurosurgeons in brazil. that's happening amazon. allergies so since going out of the busy doing nothing is going to do the population not because it's going to people on his own.

nobody could see coming that false confessions would be that in the spot the waste the fall of the. head any interrogation out there what will see is threat promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make the most comfortable make them want to get out and don't take no for an answer don't accept their denials she said therefore would. say i stayed there i would be home by that time the next day there's a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with all the.

ali baba group is looking to add a listing in hong kong giving the tech giant another source of funding from investors in asia and boosting its market cap alibaba intends to sell new shares but it is still unclear how much the online retailer will raise this time in 2014 it went public in new york and set a world record for the largest i.p.o. raising to $25000000000.00 additional funding could help defend its business against rival tencent holding china 2nd most valuable company known for its video games and social media businesses the secondary listing would also help to diversify funding channels and add liquidity this decision comes at a time when chinese tech firms are coping with increasing hostilities in the u.s. amid trade negotiations just last week while way at a dozen affiliate companies were hit hard after the us placed them on its entity

list. there is major crime and corruption news out of mexico where the former chief executive of the state oil company pemex now faces charges in an expanding investigation the former pemex c.e.o. a 1000000. faces charges of tax evasion and bribery the case centers on mystery was all his role in the alleged bribes paid around the sale to pemex of a fertilizer plant by mexican steelmaker. interesting leave brazilian construction firm or the brecht already at the center of multiple international corruption probes was allegedly involved in the sale of the 1st fertilizer factory mr lasorda is officially being investigated by an anti-corruption unit of the finance ministry which serves pemex paid $475000000.00 for the fertilizer plant when it was only worth $50000000.00.

big corn is taking a bit of a breather today but it has been on a tear almost breaking 9000 over the weekend. because as now up almost 70 percent for the month of may in contrast with the u.s. equities market that is down on trade worries last week we saw bitcoin consolidating right here as it squeezes into a really tight wedge looking at the volumes here you can see a lot of horizontal support coming in here i love those with buyers as we squeeze here we are on the lookout for the next massive candle that will give us some sort of indication on whether we break up or break down well over the weekend we actually got that candle a nice big fat green candle shooting up right here breaking the wedge essentially and creating this very narrowing channel upwards now what does this channel mean this channel is actually created by higher lows right here this is a very bullish pattern that indicates that buyers are actually stepping in right here and right here right here and they're buying it incrementally higher prices

think about the psychology of price action here these aren't limit orders these are market orders of traders say yes give it to me here i'll pay more yes yes give it to me now they want to get filled right there the ceiling of this channel on the other hand is created by lowering highs actually they're kind of in a holding pattern at around the 818300 level and you can see that you have an exponentially rising hiring lows that is actually outpacing the lowering highs and that creates is narrowing channel upwards and this could actually take a few days to work out but we are within 10000 shooting distance now 10000 is the level that everyone is watching at that that level presents a significant level of resistance both psychologically and historically and as we approach 10000 we will most likely see some selling and profit taking at that level so that now brings us to what's behind this recent decline rally well this rally could actually be linked to the trade war as excel aeration coincided with talks

breaking down between beijing and washington because it has proven itself to be a great store of value and there have been other example. where because value grows as traditional stock markets fell in particular we have read greg that the turkish lira crisis last year argentina elections this year traders in china have now confirmed that weekly boyens have actually spiked since the escalation and in response to the latest round of u.s. tariffs beijing has devalued again to make exports more attractive so to protect their wealth savvy chinese investors are exchanging ran for a bit quiet as they anticipate their currency to fall further against the dollar while the chinese run slipped to its lowest level in the last 6 months many asian investors who have taken precautions are shielded from this and they've even benefited from this recent rally. sticking with the topic of crypto currency is custody has begun to become a big area of discussion in the traditional finance world the banks hold on to

securities on behalf of their clients this reduces the risk of losing assets or even having them stolen this is not currently the case for crypto investment r t producer brant boardman's to catch up with alexander. on chain custodian to discuss how his company will help to resolve this major issue. so when these guys invest in crypto. you need to talk and security stalkings in the future we help them sleep at night so like this they don't have to manage their private keys they don't have to put in place the operational and technological environment needed to do that properly they rely on us making sure their assets are safe you know this is a big deal because we have situations where you know with any crypto currency in general your wallet can be stored just articulator somewhere. could possibly be smashed up so whatever might happen and you guys will help mitigate those issues that's right so we'd be we invest all our efforts and our attention on the

developing technology that not only preserve the essence of being from being hacked but also the operational environment in terms of to. people that's when there is a redress busy to be effected it's done properly and the keys are not misplaced or the wrong address is imported into the system it's our job rate to make sure that the assets are safe and can be delivered when required just how important is this type of security within the cryptocurrency landscape custody in general is critical in my view in having some really institutional in money situation of money flowing into the industry and so. there is a good analogy that alex machine ski from the surface is using with his the before . relay race where the baton this passed from a subtle sheet to an arch is an artist an artist to speculators and then spectators want to hand it to an institution investors but they were not there why because regulatory uncertainty and lack of custody services lack of infrastructure is so

until the custody solutions are in place and ours and others are really trusted by traditional asset managers and tradition investors until then you want to have that same inflow of institutional money and how do we get that proper balance where i'm not saying every crypto investor and everybody who's putting their money in crypto currency is in this position where they're like trying to stay outside of the system right now i'm not saying everybody is like that but there that was a lot of the draw in the early cryptocurrency years and now we're seeing more institutionalize action so is there a middle ground that we're trying to reach or we're trying to reach the point where crypto currency is as regulated and controlled as i think it needs to be i mean there need to be a middle ground these are different animals they don't be a different same. tokens can be security still can spend money can be used to teach talk and so and i think regulators do understand that at least in singapore they do

when we have a regular discussions with them they ask the regulator through associations to make them understand the differences between traditional. sets and how terms of privacy in terms of a m.l. some distinctions can be made between activities in crypto versus activities instructor and free or investments in crypto and investments in additional equity in fixed income and you know you talk about working with regulators in singapore. you know the us has one of the we're sort of your story bodies when it comes to this so we're kind of left out a lot of times when you look at where the i.p.o. market and everything is going i mean do you see the u.s. making those moves to. create a proper regulatory environment for the crypto world it's a difficult i'll want to talk about regulators in the u.s. because i might as well i might want of course i'm joking but. it's difficult to know what they have in the head to be honest i think that the difference between the regulators in asia for example regulators here in the us is that regulators in

asia have a risk based approach so they're not going to regulate unless there is a real risk and identified risk to their day and singapore they have ruled that there is no systemic risk of crypto in view of the capitalization today but they will keep an eye on it they know there is a risk in terms of a 1000000 k y c so for that they are structured there is. and they would be don't care about too much crypto and you too difficult and being forward by individual investors in singapore as long as it's done under traditional commercial laws and that you don't strut try to screw the customers so as long as you follow the basic rules of america and trading as long as you follow the basic rules of knowing your customer those regulators are fine it doesn't seem to be the case when in the us where the regulator seems to want to give an opinion on everything and anything and telling this this is under dysregulation this isn't the dissolution i think that everybody would have would be would benefit from leaving letting it go

a little bit giving a bit of breath to to. to develop simply to develop and then when. it becomes really something mainstream you can look at what is the risk and regulate according . as tech tensions heat up between the u.s. and china the latter held its international big data expo in the nation's great sole province the media will host business leaders from around the world and they were welcomed with an incredible performance. check this out these are drones that floated across the sky to mark the conference the drones flew across the sky making unbelievable shapes and really giving attendees a great shot now the conference began on sunday but it will run until wednesday now that was actually spectacular the fact that all these drones are back war and it really takes like some sort of swarm intelligence type of ai to achieve something like this it just looks so cool and if if the drone can be a point of light and it can change color then in theory you could have

a flying video screen made out of drones look about just very cool that you make them make the world you make a globe you can make the words big data out of drones what it's on to be alive that's it for this time you can catch boom bust on direct t.v. channel $321.00 dish network channel 2 or streaming 247 on pluto t.v. the free t.v. channel 132 are as always help us out at you tube dot com our team say next time. there's an 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 and the world. of business community members attended the forum to address today's financial issues. watch especially foreign coverage. chose seemed wrong. but old rules just don't. mean you get to shape out. you can't get educated and in the game trade equals betrayal. when so many find themselves worlds apart. just to look for common ground. facebook and google started with a great idea and great ideals unfortunately it was also

a very dark so. they are constructing a profile of you and that profile is real it's detailed and it never goes away turns out that google is manipulating your opinions from the very 1st character that you type into the search bar it will always favor one dog food over another one comparative shopping service over another and one candidate over another they can suppress certain types of results deiced on what they think you should be seen if they have this kind of power then democracy is an illusion the free and fair election doesn't exist the more road we give them the sooner we are all. nobody could see coming that false confessions would be that in this population the fall because if you look at any interrogation out there what we'll see is threat

promise threat promise threat lie a lie a lie the process of interrogation is designed to put people in just that frame of mind make the uncomfortable make them want to get out and don't take no for an answer don't accept their denials she said their forwards are already set on the statement that i will be home by that time the next day there's a culture on accountability and police officers know that they can engage in misconduct that has nothing to do with all the crime. that.

2 2. as the opposition on the united states now looks at the talks with president bush to be held. publicly. for the 1st time giving some. major conclusions. pre-election media regulation. so why rules should apply for digital content these are. not. good for media policy in the.