certainly they are wary of larger scale easing measures and have so far refrained from cutting benchmark interest rates meanwhile just when the 2 sides have agreed to resume trade talks treasury secretary minissha and has been quietly pushing the i.m.f. and independent body to endorse its view that china is a currency manipulator this is happening just one week after the i.m.f. found china's army to be fairly valued with no evidence of manipulation sneaky this move by the u.s. the i.m.s. largest shareholder is putting new pressure on the institution at it undergoes a sensitive leadership transition following christine legarde departure menuhin is backing georgieva the world bank's chief exec to replace legard. who has a close relationship with nugent could be installed at the i.m.f. as early as october at which point surely renew its efforts to engage her to address beijing's currency policy trade war with china is now threatening to draw one of the global economies neutral umpires into the fray the i.m.f.

the bank daddy of all banks is supposedly independent but are they really the us treasury was supposed to be independent yet they got bullied into trump's agenda the fed is supposedly an independent government agency yet powell bowed to political pressure and now finds himself playing defense this is worrisome if there's supposedly independent bodies are so easily influenced. and one of the world's biggest credit rating agencies downgraded the hong kong sovereign rating on friday as protests and riots continue inflicting long lasting damage to international perceptions of the quality and such from this of of hong kong's rule of law and its business environment which unexpectedly dropped the bombshell grading the city's rating one notch from a double a plus to double a the city's outlook from stable to negative this could have serious. simple occasions for the borrowing cost of companies and the

government this is hong kong's 1st downgrade by fitch since 1995 but leader kerry lamb hit back to defend hong kong she disputed the downgrade saying that nothing has undermined the one country 2 systems and that the protests have not affected hong kong score competitiveness you know the as well as to other waiting agencies in movies are american companies and there are question beijing's growing influence on hong kong. in today's episode of the browser drama the ben build to block a no deal brags it has passed the house of lords without amendment the bill is now set to become law after the formality of the queen's assent to the measure is officially attained on monday in response prime minister boris johnson who on thursday said that he would rather be dead in a ditch than request an extension of bragg's it notably declined to reprise of rhetorical display of defiance and determination on a visit to aberdeenshire in scotland mr johnson whose political and diplomatic

standing seems to be almost by the hour insisted that he could solicit a new deal on baghdad from the european union by powers of persuasion few outside of mr johnson's inner circle seem to share mr johnson's life confidence in his diplomatic capabilities the pound sterling took a fall of point 2 percent against the dollar and early trading while leaders of parliamentary opposition reportedly huddled to determine a common strategy labor leader jeremy corbyn is said to settle on a position that no general election should be called until the bend bill under an extension of drags it past october 31st is secure. and joining us now to offer her perspective on all of this is holy forde which a board member of the british merican business association walking back really good on here so then bill barring the no deal briggs it seems to become law on monday barring an extraordinary break with president experts seem to say that the bill is procedurally bullet proof as it passed with no amendments presuming regular ledger . order will the prime minister comply with the burn bill if and when it becomes

war well i don't know as he mentioned you know he's already declared that he'd rather be did dead in the ditch than go and crew to brussels to request an extension and of course what the hilary benn bill stipulates is that he will have to go to back to brussels and request about a 3 month extension till the end of january which he does not want to do and actually there's been fears that he won't comply in fact hilary benn was quoted as saying you know we either have a law on the rule of law or we don't so we actually can just ignore this and not actually accept it i think that's a very interesting point is that while this bill would force johnson not to be able to force through a no deal breaks it actually forces to come up with some kind of solution and they have none so it begs the question what is their solution for the dithering as he was quoted in saying in aberdeen shares that you know it costs the u.k. a $1000000000.00 a month for this do the bring all these delaying that's what's happening now the

prime minister seems to still want to go into a general election which he said that he doesn't want but the government still says that they will try again to past election bill on monday the last general election was in 2017 while the referendum was in 2016 so my question per a tweet along these same lines is if you think that the u.k. public may have changed their mind about which party they support since 2017 why shouldn't there be a referendum on bragg's that which the people last weighed in an even longer a girl with a question actually begs why should we ever have any kind of referendum if the leaders are not going to actually adhere to a people vote for i mean that's the issue 201617 point 4000000 people voted for the not hearing too and they all will try again vote again vote again so actually they've already voted the voters way and the issue is the elite has not adhered to and it's about as ridiculous as saying well people didn't like the fact that trump was elected in 2016 let's have another election that's how ridiculous it is. right

and on this question of election we talked to former member of the scottish parliament tom sheridan who highlighted some of the issues he thinks are being effectively scuppered by the brics a debate and he was quite fired up about that let's listen to some of that. we've got luigi's we've got and then secure economy we've got workers a 1000000 of them over contracts we've got our welfare city that has been cut to the cool we've got 123rd homeless families in temporary accommodation some of the big. shipping containers one of the richest short gold nations in the planet and yet we have kids living in may 2 shipping containers those problems are real and they have to be addressed corbett wants to kick the tories and he wants to introduce a labor government. so hillary in light of what tommy said my question is is the u.k. in danger of protracted distraction from the basics of governing and managing the

economy for the common good by this management was done yes absolutely of course and i agree with tommy i mean look education the police force the national health service none of it's actually been addressed in fact just now just recently job it has come back with a sort of a bill and has basically proposed that austerity will come to an end basically by over $13000000000.00 pounds to react to infuse into the british economy why for the exactly the reasons that tommy said this is being over dick killer stis traction again the point is that leaders should have appeared to what the british public elected by 17400000 people in 2016 price it and they have not so exactly what it is that is distracted from every other agenda and has resulted in business uncertainty and in manufacturing uncertainty this is why there's a mess because they won't do what the electorate wanted so now there's also disputes within parties so the entire thing is basically a mass are we. not just

a crisis within the individual parties but in also the basic institutions and the structure of the u.k.'s political economy now actually what i would say kristie is the answer is yes it's a mess but i would quote churchill democracy is not a good form of government better though that all the other forms of a tried and this is what democratic dissent results in and you've got democratic dissent i would say on steroids my final and parting words are i think this is a redefinition of nations like in the u.s. you look at the cross party lines it's no longer democrats and republicans and in the u.k. a general election is not going to be labor versus conservatives you know why because a lot of the labor workers they're the ones that have been hurt to the greatest extent by all the e.u. regulations and it's the elites who historically were of course tory voters is the elites who are seeing their luxury goods become so pricey and boris johnson is actually trying to push through something that would give business certainty and bring back manufacturing to the u.k. that is a workers issue so what i think you're seeing is a redefinition in both the u.s. and the u.k.

of politics as we knew it interesting times are good expert insight and guidance from henry ford which board member of the british american businesses used to judge or go see a. shortened trading week in the us to start off september as liquidity returns back to the market after the summer loss let's take a look to see how the equities ended up over in moscow the mo x. traded up as president putin reiterated that developing the far east is an absolute priority he emphasized opening up the northern sea route as an international court or for increased trade and strengthening cooperation with india for mining and military already in shanghai the markets rallied up 3.6 percent as china agreed to meet it with the u.s. in early october for another round of negotiations that services p.m.i. rose while new export business has dropped suggesting that domestic demand was stronger the. foreign demand while the market remains optimistic for continued

trade talks no one is holding their breath for a resolution the china cabinet signaled a reduction in the amount of funds banks need to hold in reserves and this is meant to reduce the real cost of borrowing and further stimulate the market to cushion the slowdown expected in the 2nd half done in hong kong the hang seng rebounded strong on the back of the news that the city's controversial extradition bill has been fully withdrawn mainline traders who took big bets and poured money over and on to the hang seng were rewarded as the market recovered over 4 percent for the week the hang thing is now trading near the lowest price to book multiple since the late 2016 over in japan the nikkei brushed the highest level since august and shares closed as the highest in more than a month as investors breathed a sigh of relief that trade talks between china and the u.s. will resume and we also have positive developments out of britain and hong kong as well the yen has backed off of their 8 month high against the dollar helping to boost major exporters over in india the sensex fell almost one percent reversing

earlier gains as sluggish economic growth kept investors cautious the government announced that they would cut taxes on hybrid cars giving a boost to the auto sector finance and banking stocks though were among the top losers as the rupee fell further to close at the lowest level in more than 7 months due to the continued foreign fund outflows down in australia the a.s.x. had a volatile week as shares struggled to break higher mid week and then up marginally weak domestic economic data and trade concerns heightened fears of a slowdown in global economic growth australia's economy grew at the slowest pace in a decade last quarter as consumers went on strike for more monetary and fiscal stimulus finally the all shares over in south africa traded up as the world economic forum africa kicked off on wednesday the 1st item on the agenda was to strengthen the continent's unity by creating the world's largest free trade area the auto in the.

also got a booth when it was announced that as much as $60000000000.00 could be invested in south african vehicle market within the next 5 years now of daniel for the rest of europe and america thanks kristie starting as we do in paris with the cac the cac 40 in next is up for the week and closed at a one month high at the end of trading on friday automaker peugeot was up nearly 3 percent on the final trading day of this week in frankfurt the dax is also up for the week and matching the comics performance by also hitting a one month high after gaining more than half a point on friday across the channel to the u.k. the footsie is also up for the week but this week also marked the end of an era as the u.k. retailer marks and spencer fell out of the $4100.00 index for the 1st time since the index was started in 1904 i mean a shares have lost about 40 percent of their value this year moving to the americas in brazil that is also up for the week despite all the recent international drama around president also morrow

unfortunately the brazilian economy minister revived all that on thursday by seconding mr bolton i was insult to france's 1st lady not a good looking 21000 and not good for business in mexico mexico mexico also for that week and moving to north america in the homestretch all 3 of the u.s. exchanges on our border for the week writing this week's burst of what now passes for optimism on the u.s. china trade fight and finally in toronto. for the week our final green arrow on the board for this week on thursday the legal cannabis nitch on that got a little bigger with canopy rivers company announcing their approval for listing class a shares on the sex those shares on it will start trading on the as of september 9th and this is been your weekly global stock market wrap. time now for a quick break but hang here because when we return barely more than a decade out from the financial meltdown of 2008 the u.s. is already looking. privatizing public mortgage finance giants international

regulatory attorney miles edward london and today to break down the proposal what this could mean for the future of housing in the u.s. and as we go to break here's a number that's a close. she stressed to make sure that the british. to. stop the show was so here she. could use these a c.

which quite a long. time and now look what you. can and must do to your current man or to share. with your my it's your bonus for should be. there mr. spiritual tradition should be for you both to teach history to actually. listen to revoke or should still speak and speak. last of western germany that steve globalization and this came in with thompson 2016 and he the idea of monitor ization the global central banks cooperating to put out a currency unit of accounts that was better than gold is a 6070 year experiment that is now collapsing which is leading to dollars

a synaesthete countries like russia move aggressively away from the dollar and buy gold and dig globalization simultaneously. exists is a stick of water bottle phone in the stomach of a fish the brand is spawns of the coca-cola company which soon is millions of bottles of soda every day the idea was that let's tell consumers there are the bad ones there the litter bugs are throwing this away industry should be blamed for all this waste the company has promised to reuse the plastic. on that i knew that that is the end of it for you. the mountains of beliefs only grow.

but chairman powell on friday claimed that company's investment decisions were affected by the trade war between china and the united states during his remarks in switzerland powell said i think it is the case that uncertainty around trade policy is causing some companies to hold back now on investments we've been hearing quite a bit about uncertainty so for businesses to particularly make longer term investments in plants or equipment or software they want some certainty that the demand will be there the comments come as the fed weighs what to do with interest rates later this month the u.s. central bank previously cut interest rates by 25 bits in july powell added that he does not see the belief that the u.s. is headed towards a recession meanwhile the u.s. bureau of labor statistics announce that the monthly job numbers on friday in august job growth continued at a feeble pace with non-farm payrolls increasing by only 130000 supplemented by the

hiring of temporary census workers ahead of the 2020 survey the unemployment rate stayed steady at 3.7 percent. the trumpet ministration has shot thrown their support behind the idea of privatizing mortgage giants fannie mae and freddie mac. the 2 companies which guarantee roughly half of the u.s. mortgage market have been under government control since the financial crisis of 2008 u.s. treasury secretary steven nugent said in a statement regarding the recommendation that quote an effective and efficient federal housing finance system will also meaningfully contribute to the continued economic growth under this administration portions of the plan for privatization will require approval from the u.s. kong. yes joining us now to discuss this and a host of regulatory issues is international regulatory attorney miles and miles welcome back. thank you 1st of all let's get your take on this u.s. housing news walk us through the concerns that regulators and public interest

advocacy groups might have with these changes from the trumpet ministration to these cornerstone institutions of the u.s. housing market fannie mae and freddie mac. . sure let's start out by explaining who they are they're both government sponsored entities which means that they're somewhat private operating under the auspices of the federal housing finance agency and what they do simply is fannie mae buys mortgages from commercial banks pretty mad buys mortgages from thrifts they securitize them into mortgage backed securities and they sell them to the market and that's a wonderful thing it's quite profitable and the government has done quite well since 2008 with this model the situation is that if you privatized certain mortgages that would be available concerns to consumers may not be there and they may shift the landscape of the mortgage backed securities market but it may also do and this is what regulators and consumer advocates are very very

concerned about we may revert back to a situation of 2008 where if there is a less government intervention and oversight we may have a situation where subprime were non-conforming loans are sold as part of these mortgage backed securities and we find ourselves really circling back to a situation similar to the financial crisis of 2008 now the mike how one of the center for responsible lending told n.p.r. on this move that for the working class americans who want to buy a house they could make a much more difficult to get a mortgage and make the mortgage much more expensive so how much will characterize and quantify the effects of this change on the affordability of buy a home in the u.s. . it will affect it because certain mortgage products will become less attractive to whoever ends up owning and running freddie mac. and fannie mae and it could actually be the same organization so what the beauty of

a government that sponsor entity is is that they look at putting the interests of the consumers 1st and profitability less so there's going to be tighter restrictions for consumers to obtain mortgages and there's going to be a less product available for them because whoever the new owners private owners of these organizations are they're looking at the bottom line and they want to make sure whatever product they have out there. is going to be worthwhile and that's going to trickle down to the thrifts and commercial banks making sure that whatever mortgages they sell to to whoever is a private owner of this organization is attractive to them so it will have an impact on it definitely now miles i want to get your take on 2 of the problems i've read in some of the reporting on this which is one these 2 g. s. he's now siphon all of their profits to the government and as i understand it would

continue to do so under this plan and to they're also going to be really private companies again they would be billions of capital to work with and they were wiped out when they became directly controlled so how would they solve these 2 sort of logistical problems in basic finance if they want to make the really independent. yeah and those are good points dan you're the 1st point is it's absolutely true we've seen it before under the obama administration where they siphoned off profits from both organizations basically to stimulate the economy prior to an election year so that absolutely has been happening similar to what's happening with social security now what the new capitalization is going to look like is going to be extraordinarily difficult to see but you're right on target by saying that there will be a loss of capitalization i believe that the best approach would be is not only to have congress involved in the process but the president should have appointed

a committee of both private and public officials who could really struck sure what the new entity is going to look like but we are going to be faced with both situations that that that piggy bank is no longer going to be available for either the president or congress to siphon off and use it for other situations as i mentioned before like obamacare. now shifting over the technology big tech regulation is not going away as an issue in the u.s. and new york attorney general leticia james said in her investigation and with her colleagues at facebook so while some are separate probe by the state's a.g. into google will be announced next monday according to the wall street journal the possibility for finding antitrust issues here seems almost unlimited so is this a slam dunk for the agencies are where the market power of those monopolistic practices have been built far enough to push back on the investigators. i think it's would be a very difficult road for states to pursue

a i trust. especially for an organization that not only operates nationally but internationally it's much easier if that entity is just confined to the state so in order to really succeed on a day and i trust violation one you have to prove that there is a monopoly and 2 you have to prove that their business practices really extended that monopoly and even though they may be able to do it the big question is what's the relief going to be. the goal of and i trust regulation all the way back to the sherman their trust act of the 890 s. is really to break up the cities create several other entities to really free up competition and give consumers more choices i can't imagine the state of new york breaking up facebook and what are they going to say we're only going to break it up for new york consumers so i think what's going to happen here is putting pressure on facebook having them become a little bit more prieur in the way they conduct business and also i think what

they're looking for is political gain and maybe some unit of funds as well as international regulatory turning miles edwards always welcome your insight thanks for joining us. thank you. american semiconductor manufacturer of qualcomm announced friday it will implement its 5 g. technology into the 6 and 7 series processors and not just the state of the art series 8 chits the move by qualcomm opens up the doors for consumers to have the opportunity to buy more moderately priced 5 g. capability phone currently if you want to 5 g. equipped phone in the u.s. it was such a back at least $1300.00 for samsung's galaxy s 10 plus 5 g 4 galaxy is no plus 5 g. these new 5 processors will be used and smartphones made by apo real me read me motorola nokia and l.g. qualcomm said that the new lesser expensive 5 g. phones should have more store shelves in the 2nd half of 2020. and that's it for

this time you can always catch boom bust on you tube dot com slash boom bust or to see you next on. pain years in the process started 10 years i think it's time to shake things up maybe change the branding maybe the format here is what i've been thinking about next season related episodes filmed on an island 10 experts fight it out for a trophy what do you think ok a more affordable option $25.00 experts. one red rose another suggestion. jeopardy parity no political cookout where we will literally wrote

the elite. late night show it's a rare form of these days and it's cheap all you need is an old microphone in a printed banner but to leave me with one of my girls i can do this and laughter politics gone wild like music. ok crosstalk is not about hype it's about meaning 10 years of talk and still going strong. peter if you want to change something why don't we get rid of the bow tie no that is too much. i. ready ready ready ready ready am sure there's a need to stop it from continuing to grow. i just never know

very good about the idea of bringing shoulder room into the world because i didn't feel like things were in very good shape that a life was just going to be a lot of software program. but. there's no reason you're more. you take things that already made the there's no reason to make something else that you need to give your love to everybody's scared to talk about it certifiable is truly dependent on us addressing this issue and if we can even talk about it every chance even have a conversation about it then. we're in trouble. ready of the day there are good terrorists and bad evidence the bad terrorists and those in yemen who the united states deems to be a threat the good of those who work in syria the cia and the u.s.

military were engaged in covert actions really throughout the world. where they were assassinating populist leaders they were backing up right wing military juntas funding an army just was there's not anymore because there's always a small for a really good. profit. the police.

was. that. report from a conservative watchdog claims that there is a covert multi-million dollar scheme to boost left wing movements across the united states. italy's former interior minister. faces charges of inciting violence against a german rescue boat captain who illegally docked on italian shores with dozens of . us carries out military exercises near venezuela's borders in line with its apparent strategy of surrounding in the enemy. or broadcasting a lot of their work force to doing most of this is.