the breakthrough and how much trade war pain is still in the pipeline pretty well as he can to me plus we take you back to singapore for our very own christiane who's managed to catch up with mike on an expert in the singapore telecom industry so focus on 5 g. and how asia is leading the way for the world so much important news an interesting content so little time let's go. a game changing merger proposal between 2 major global stock exchanges leads our global report today as hong kong exchanges in clearing makes a takeover bid of $36600000000.00 for the london stock exchange the offer was specified as 83.61 pounds in cash and stock per share of alice the stock in a filing by hong kong exchange president laura chachi may long the chairs filing also stated a combination of h k e x n l a c represents a highly compelling strategic opportunity to create a global market infrastructure group bringing together the largest and most

significant financial centers and asia and europe there is also a significant to the unsolicited bid in the filing hong kong spirit will proceed only if l.s.e. shareholders vote down a $27000000000.00 all shares deal for the elysee to acquire data and tech firm or affinity that was announced in on this to analyse statement described the bit as preliminary and highly conditional still the hong kong exchanges chief executive charles lee clearly tried to woo the as he would promise of stability telling reporters on a press call the u.k. is a global financial center and the city of london is always going to be strong even post europe mr lee also said the bid was a vote of confidence in london's financial future in the midst of the brags that in broglio. and speaking of that we go to england now where prime minister boris johnson suspension of the u.k. parliament has been ruled on law for our 2 correspondent karen franzen joins me.

now. this ruling overturned earlier ruling that said and did not break the law what's the one where we now you know also scotland's highest civil court judges they did rule that johnson's advice to the queen on the suspension of parliament was unlawful ruling that had the purpose of stymieing parliament but that doesn't mean that the suspension is going to be lifted right away rather the u.k. supreme court will hear an appeal from the government next week u.k. opposition leader jeremy corbett agreed with the ruling saying that the prime minister was preventing questioning and debate of his goal to pull the u.k. out of the e.u. by october 31st take a listen i want to lead a labor government will bring people together and a relationship with europe. or an effective trading relationship with europe in which we have a dynamic relationship on regulations and right so we don't become a trump off shore. at the edge of europe undermining the social advances that have

could not recognize that through the european you. now just after the ruling a cross party group of lawmakers gathered outside parliament to protest against the formal shutdown and said that they would continue to attend meetings and still go about their business inside the building. we call me we've seen the parliament is not sitting should be sitting hold this government. we make very clear as you saw in the church. just a few weeks ago. parliament was attacked in this way and that we will find other ways to hold this company and we will have other ways to assure our constituents who elected democratically. now this court ruling comes after a group of more than 70 opposition lawmakers challenge the government's decision to formally shut down parliament until october 14th last week a court enberg threw out the law makers challenge saying that the politicians not the courts should decide but that decision was then overturned on an appeal now

fair and almost every day i think how can this story get any more uncertain but somehow it does and if there's anything we've learned from our guests it's that business hates on uncertainty absolutely does daniel and you know what the british chamber of commerce in germany today they actually said that businesses are dealing with big uncertainties with the brics that debate and still with it still not being resolved and that the u.k. and germany aren't prepared enough for now the board says that a new referendum would obviously be better since the new law against a no deal with drawl and no new election solve the problems that companies are already facing again we have the u.k. supreme court ruling next week and with the u.k. set to leave the e.u. by october 31st the latest exit to the bugs that show with r g correspondent for in france thanks so much for your time. and i'm moving to asia there has been a breakthrough a small one in the malays of the ongoing trade war with the us as china has waived

tariffs on some goods coming in from the us this includes 16 products including seafood and. pharmaceuticals for cancer patients the exemptions will start later this month to be just before the trade talks we start in october here to break it all down and bring us up to speed on this and a host of other issues is professor richard wolfe professor of economics and there are just at the u. university massachusetts amherst and the author of democracy at work a cure for capitalism professor wolfe welcome back as we said thank you there seems to be some small movement here with china showing some flexibility on their tariffs the news here that they've issued exemptions for 16 type of imports starting in on september 17th 12 of those products are now already eligible are now eligible for retroactive refunds on tariffs already paid. the bill for a lot of that is already coming due moody's analytics estimated that the trump trade bite has already cost the u.s. $300000.00 jobs net that's existing jobs that were cut jobs that would have been

created but we're told by the effect of the terrorists so does that estimate of 300000 jobs lost sound right to you and how much of an offset are these tariff exemptions going to be. well i think the estimate is honestly an underestimate we don't know what all the secondary and tertiary effects are it's not just a question of the job loss today but what the ramifications are if for example 300000 people lose their jobs their incomes are going to go down they're going to be able to buy fewer goods that's going to lead other companies to have unsold inventory and they will lay off workers that's how capitalism works and so this could be a much longer drawn out decline of both economies as they're both affected i think what you see in the offer of the chinese to rescind some of the tower of sun to pay back people who've paid a tariff is a sign of good will in advance of those negotiations that are to start pretty soon

it's a pattern mr trump exact. generates an attacks and the chinese take their time wait a little bit come back with less of an intensity that mr trump showed unfortunately after the chinese announced what you just talked about mr trump through another tweet out there emphasizing how much they have lost how desperate they must be when in fact for the whole world what you see is desperate aggressive behavior by the trumpet ministration at a very moderated response by the chinese they certainly behave as though they think in the long run this is their game to win and that mr trump has to be waited out in the hopes that something different will come either out of the election or out of the pressure from the united states even from the chamber of commerce in the united states who has a delegation in beijing right now trying to mediate this situation which is

a kind of an odd situation in itself very interesting to when the chamber gets involved you know they really speak for the hour here in the u.s. getting to a domestic u.s. story with some global implications the california state assembly has now passed a law that would require door dash lift and similar so-called gig economy employers to treat the drivers they clearly employ as employees but this grifter of calling them independent contractors seems to be key to their business models and so those 3 companies plan to spend at least $90000000.00 they say to reverse that by putting it to a public vote as our guest yesterday had amassed pointed out we're talking about some good companies that are already struggling to make profits how much of a threat is this california law for these companies that aim to be global firms. well i think what you're seeing and you're going to see more and more of it is a turning of the tide in the united states there's more and more positive attitude

towards labor unions there's much more positive attitude. towards tilting the balance back away from corporations to the mass of people the california legislature just is in the process of passing a law for example helping renters against landlords having done the opposite for the last 20 years i think you're going to see a shift and those companies ober lift and so on are going to have to find the economies they want the profit advances they want in some other way than pressing down the wages of workers by calling them gig employees or contractors they're going to have to give them the same benefits the same security that the average worker got after fighting for it for on 100 years i think those companies are well positioned with the technology they boast about to find other ways to make money other than pressing down the wages which the mass of people are basically no longer

going to allow them to do as they did in the past something's got to give professor richard wolffe another day of fascinating takes thanks so much for your time. thank you. and mexico is making a major play in foreign trade and moving to financially reinforce their state oil company pemex mexico's economy ministry has confirmed a claim from their brazilian counterparts that lanham latin america's 2 largest economies have begun talks on a broad trade agreement a previously agreed liberalization of trade in auto parts and finished vehicles took effect in march of this year meanwhile the mexican finance ministry has reportedly arranged for another $5000000000.00 infusion of liquidity into the state oil company pemex the ministry said in a statement that the capital would come from the federal government redirected from unspecified assets in the mexican treasury bloomberg reported that the ministry has only a range to provide a short term loans of pemex as a bridge to credit from lenders including j.p.

morgan goldman sachs and bank of america the ministry says the. the infusion is to refinance bonds that were coming due for pemex between 202-2023. but states because when we return we'll take you back to singapore with our very own christine. telecom industry. leading the way for the rest of the world and as we go to break we take note of one market moving event the resignation of national security advisor john bolton of the united states. of us regime change in iran in venezuela the price of oil after that event which had been trading up by roughly a dollar before partially recovering. today here are those close in market numbers .

this is a sticker from the water bottle phone in the stomach of the fish the brand is part of the coca-cola company which sells millions of bottles of soda every day the idea was that let's tell consumers there are the bad was there the litter bugs are throwing this away industry should be blamed for all this waste the company has long promised to reuse the plastic. that's suitable sets for their classes kristie cost me on my end i need to stay in your own hands at a special projects funding me. on the new vest that is the end of a pretty fun now the mountains of waste only grow higher.

when lawmakers manufacture consent instead of public wealth. when the ruling classes project themselves. with the final larry go around to be the one percent. we can all middle of the room signals. doing the real news. well you know they were kind of adopted because we were called along. there in the small boats next to the harbor one sheep and it's.

the little self to be told fish already 90 percent of the dot. com. 15. tons they do it several times a day with a big fleet oh you get an idea. we have to understand we can still use to just. be with this. deal boy. i'm doing this because i want the future world to future generations to have enjoy the ocean we have. joined me every day on the elec simon shore and i'll be speaking to us of the world of politics sports business i'm show business i'll see you then.

welcome back unrest continues to rage in hong kong and its implications have far reaching effects touching not only china but southeast asia as a whole boom bust christiane is on the ground in singapore and she tells us but the stress of the protests has begun to spill over. the riots in hong kong have been going on since march and despite kerry lem's concession to formally withdraw the extradition bill 7 the unrest continues this prolonged destruction has already caused. a spillover impact on to singapore and the broader southeast asian region the lion city has certainly capitalized on hong kong situation as many businesses have relocated conferences and other major meetings to singapore and while tourism to hong kong dropped to 40 percent this summer to a record low last seen during the sars outbreak singapore reported record high

hotel occupancy 93.8 percent with room rates also at the highest since 2005 as mainland are now opting to holiday here in singapore it seems that singapore is benefiting quite a lot from hong kong's fall out as both these destinations share similar traits it captures now the leisure consumer market it captures the business and conference traveller market and lastly but most importantly it captures the investment and high end net wealth private clients and their assets as well so it seems like singapore is winning in all of this right well not necessarily the relationship between hong kong and singapore is deep and intricate and rooted in trade hong kong as singapore's 5th largest trading partner last year and the 4th largest investment destination the riots have now impacted many businesses with operations in hong kong and the economic consequences have already started to show some retail sales are down more than 10 percent for the 2nd quarter and now it risks money into

disruption in the supply chain any disruptions to the supply chain will cause it to be diverted and companies will certainly ship their shipping routes into competing ports namely shanghai and. a shift like this would likely result in a permanent loss of business for hong kong and singapore which is it will be a devastating blow for the export driven economy so while singapore is making short term gains in certain markets the long term spillover effect is a net negative this includes many assets that have been relocated by investors to singapore as this is likely to be short term and temporary as capital will always find a way to flow to where there is opportunity the biggest risk of all. all is still the uncertainty of the contagion effect of the loss in confidence in hong kong remember in the 1905 tequila crisis what happened and what precipitated the mexican decline what precipitated thailand in 1907 and how about argentina it was always the same thing it was always the wealthy losing face or fear of the government and

they started moving their assets out so we spoke with them weighing director of private bank at c i m b and he agreed that confidence is everything the key things to me still remains confidence because no matter how cheap your cost of borrowing you see central banks everywhere cutting rates to 0 or in the case of europe was about to go on they could bring him back kind of easing you know more ways to free up more liquidity tool the financial institution what do you do with all the money out there if the demand for your goods and services is because everybody's worried about their jobs their livelihood all for their children you so they don't they're not going to be spending more so if the wealthy in hong kong convert to dollars or just outright leave then hong kong is finished resulting in massive kid tejan ripple effect across asia and southeast asia and we're talking about the most lever developed economy in the world here with the most leverage consumers in the world

with the most expensive real estate in the world so when you're at this level things can start to fall apart very quickly and the effects will be felt by everyone reporting from singapore. and one key component of the ongoing trade war that has been in serious focus is in the race for digital dominance chinese telecom giant wall way has been caught in the middle but threats from the u.s. have been met with mixed results christiane managed to catch up with mike told comic sport in singapore to get his take on what the future of 5 g. holds. so i know you just finished talking talking about. the roll out of 5 g. over in singapore it's ok tell us about how that it's progressing but we had a lot of interest after my talk a lot of people came up to me and say hey this is what we should all do what i talked about was the idea of

a shared infrastructure wireless infrastructure 5 g. as well as work for you but more focus on 5 g. . as we have all the 5 g. and singapore because there are many countries already doing shit. pulling over sauces in korea for example all the treetop actually pulled together and they're pretty sure for the shot in terms of investing in the 5 g. force structure increase the 1st country in the world to 5 g. so this commission right in japan right you would have the likes of soft very rough and tumble talk to electric power. in a couple of others including people also have put resources together to roll out a 5 g. deployment right we have many cases of even before 5 g. 4 g. in the u.k. for example for the for the 4 that rolled out why this infrastructure by sharing so

what you do is that you have the pool of shit infrastructure being leased out to the operators so the operators those or the better infrastructure or in the case of some of the other countries like korea for example the tree operators or the structure. and so i know you mentioned that here in singapore there's aren't that many companies that provide 5 g. there's only a handful that's why this airs and there's no as well as a couple other smaller providers so in terms of you guys how do you come how do you guys a value which company to work with. that's quite. a difficult question to answer because it depends on the management of pitch walpurga. what i do know is that while we is a significant factor in the data validation and many operate to asia or would be adopted or we it would be difficult for them to. stop.

before we partly because existing systems as they move towards 5 g. i'm sure it's easier for them to move across to find you before we are already here before we could move. on unless something changes in technology which could be a shift because the technology is moving towards software before and it works where the software force more important then the hard work so who is going to spearhead the software component of its power getting into the software development of it as well. as far as i know the. sdn has to call it software defined that works we know it's actually a lot of it's headed by start ups. software start ups. although some of the bigger players from the get into the city old all the big telecom operators are. procurement suppliers of the earth so. therefore we are already

getting into those deal. but it is a smaller players who are spearheading in the of the show and so forth before that so it seems like the singapore government is the really behind the rollout of 5 g. and not a very fast paced here unlike what we're seeing here in the u.s. so do you think that we're seeing a shift here where technology in asia and connectivity in asia is going to surpass that the u.s. anytime soon definitely so because as you have seen korea south korea is the 1st country to roll out commercial 5 g. pilots are being done in china in singapore and no japan or it's all right so these are countries that have tried even. in malaysia telecom lasers a pilot for certain applications in 5 g. or 5 g. comes in an area where by if you combine the need for high speed. with. what they call the load deal they will be can see. you are able to do stuff

that. where you can capture bigger ones all the time and therefore use a machine running at the back so 5 can connect is essentially going to be the backbone for the entire economy so absolutely what do you think which industries are going to be the most affected by the rollout of 5 g. i think. a lot of common affection is the. seriously looking at large you know deal with the. most cost of the actually electronic systems to be secured with a lot of software so most cars already equipped with google maps or you know. i pad. are taught. various electronic devices and they all need to be connected to the internet so. what better way the truth. is allows you to do online streaming of information. you're going to

do. soul so that there's a whole new paradigm shift that you should see right here in our industry fascinating so in the auto industry and so how ingrained as a singapore with like the entire security industry the cyber security and network a mystery is very important cyber security is the new battles are being fought in the cyber warfare. world war in the grow better food i mean they're still there but more and more is being fought. in the deep. inside on the ground. so security as. we begin to gather more information high definition care because more important they keep the city from these are private forward progress. in the government has a duty to make sure that security around. the world is the there you kept pushing

to me and i was absolutely right yeah yeah you have to make sure they're secure so everything the new technology comes along thank you so much micah thank you christine. and finally as the craft beer industry continues to expand and become the potent potable of choice for younger consumers one company has decided to pick up the pace and expand even further delaware based dogfish head brewery has been promoting its sequined ale as a healthier alternative to have your beers marketing the beer to those with a quote active lifestyle but now they're stepping it up to a new level the brewery has announced a collaboration with shoe maker merrill to create a beer themed running shoe in the image of its sequins jail this shoe will feature the logo of the brewery on the tongue of the shoe along with the theme of the beer morel is also designed the shoe to be made partly of recycled materials with parts

of the soul and upper part of the shoe being made from old water bottles and the laces are made entirely of recycled goods you can buy issue now on morels website where the pair is being sold for $110.00 always remember don't drink and run that's it for this time you can catch boom us on direct t.v. channel $321.00 tish network channel 80 or streaming 247 on t.v. the free t.v. channel to 79 or as always it is up to you tube dot com start to see next.

today there are good dentists and bad evidence the bad news in yemen the united states deems to be a threat the looked at those who work in syria the cia and the us military were engaged in covert actions really throughout the world. where they were assassinating populist leaders they were backing up right away military juntas funding an army of death squads there's no posts anymore because there's always a small people really going to cut this. profit. so what we've got to do is identify the threats that we have it's crazy to confront a shouldn't let it be an arms race based on off and scaring dramatic development only mostly i'm going to resist i don't see how that strategy will be successful very critical time time to sit down and talk.

that he didn't. she don't. go to work. with the hopes and fears on the call from the cold recall no cultic when he does it cause you know the force of the soldier you can see each element of them with the bullets of them down on the last of the lots and lots to know something should come out in which are going to do what the condition of the song should i mean she's on that you know. the. full story of.

an american t.v. network. describing them as paid russian propaganda. when it comes to making claims about the kremlin meanwhile a group of independent hit back after being criticised for a visit. anytime anybody visits i government syrian government side and offers a realistic perspective they can expect to be attacked what we've been able to see and report already has threatened the narrative that's been conveyed by western media. video agency is a special. project through which you can explore the mission.