percent over $60.00 per barrel the saudi government made no mention of the incident saudi arabia and iran have been waging proxy battles for regional influence most directly in yemen in september yemeni militias claim credit for attacks on saudi oil fields that instantly took more than half of saudi crude production offline the u.s. and allies saudi arabia and israel blamed the september attack on iran while to ron denied involvement. u.s. markets rallied friday morning after u.s. president donald trump turned positive on u.s. china trade talks after a reported successful 1st day of negotiation sources now tell politico that a deal is in the offering and mr trump will delay the hike in tariff set to go in effect on the 15th of october the source also claim the tariff increase is slated for december is also being discussed the dow was up early friday more than 350 points following mr trump's touting of the talks between the u.s. and china trade representative la robert light hisor and treasury secretary steven

nugent also said the talks are doing very well the tech heavy nasdaq was up more than one percent one and a half percent ahead of the u.s. presence friday meeting with chinese vice premier lou meanwhile the s. and p. $500.00 was witnessed a more than one percent gain just about hitting the 3000 mark at the high point we will get to more of the u.s. markets later in the show. and an escalation in doris' on the news today as indigenous led protests against i.m.f. imposed economic policies persist even after the government of president lenin moreno was forced to flee the capital of quito and increase in fuel prices pursuant to a march loan agreement with the international monetary fund sparked the protests with the kindling coming from broad and growing anger over president turns to the right on economics and foreign policy exemplified by merinos choice to call on the i.m.f. for economic help on thursday evening the ecuadorian foreign min interior minister sorry announce that in. digits protesters gathered at

a cultural center in quito had released to some police who had been captured while trying to repress the protests however dozens dozens more police are believed to still be held by protest groups across the country as they attempt to defend themselves from a heavy handed government response also the country's significant oil industry seems to be grinding to a halt as a result of the protests near midweek a pipeline that moves an estimated 2 thirds of ecuadorian oil production was shut off by the nation's oil minister the minister also said he was considering declaring force majeure or claiming unpreventable circumstances thus invoking a contract clause against penalties for late deliveries protesters reportedly have seized at least 3 or oil fields. and joining us now for some expert in country perspective is economist and former ecuadorian central bank official on juries are rouse mr rouse welcome to the show and 1st let's get oriented to the players in issues here present moreno was elected on pledges of continuity with former

president rafael correa citizen revolution but government quite differently most obviously with his i.m.f. loan agreement you have noted that we had some clues to this turnaround when mr moreno considered billionaire isabel noboa to be his running mate who is lenin and how did someone elect as a leftist going to the i.m.f. which was previously kicked out of south america. well thanks for having me yeah in effect when what eno in his youth was and that that was the militant of what's called the revolutionary left movement in his youth and then as he became a man he became a sort of what we can call a charity kind of left right one that supports giving charity to poor people or disabled people but not really the transformative kind of leftists that usually wants to overhaul the national economy or the power structure in society and that

we see that he more had a personality that likes to seek approval from more powerful people or for power for interests that's why when he was vice president perhaps he seek the approval from a president go to who was a strong leader and now in his absence he seeks approval from transnational oil corporations or demonic powers around the globe and delving a little more deeply into this process in the background you have spoken of what you call the gradual dismantling of the political coalition that led to the 2008 constitution of monta christie in the political realm and then the legal tear down of that new voter approved constitution effectively by the courts tell us about the process. ok so the new constitution in 2008 was basically a new correlation of forces between workers student small and medium business enterprises nationalist enterprises and industry and all over its center to left

movements that got together to basically change the ecuadorian development model into what's known as win beat or good living but because of attrition and also because of purposeful divisions that where financed by transnational imperialistic firms especially led to an attrition that weaken the social movement fortunately and this is something the i.m.f. is very good at is getting together this 2008 coalition again with indigenous movement with the workers with progressive i cut them makes an intellectuals into what may become a new coalition to bring back that development bottle that was abandoned by what i know in a similar fashion as to what the fed and this is just did in argentina by bringing back the old national popular coalition in argentina in comparison there and on the i.m.f. agreement that seemed to cause a trouble here can you tell us about some of the specifics and how it specifically

contributed to this protest movement. let's just perhaps an element of context here and it is that i.m.f. especially in the western hemisphere is heavily guided by the hand of the department of state and department of treasury so basically what the i.m.f. does in the western hemisphere is u.s. foreign policy now given that context i am a program the austerity package is about 6 points of g.d.p. it's 6 percentage points of g.d.p. with tax hikes fuel price hikes privatize ations firing public sector workers and of course. financial deregulation to benefit foreign financial capital and domestic financial elites so this package has implied weakening of the ecuadorian economy people had been sort of suffering for a while but with the most recent decision to hike prices of diesel and gasoline 4

by over 120 percent people said this is enough and mobilized and on the role 'd of oil and fuel prices in this fight we've seen similar struggles on energy equity equity in oil producing peer nations such as when it's well aware there are defacto fuel subsidies that may run its serious public costs but removing them would increase economic injustice and possibly generate a roast in your view what would a sensible and equitable resolution to this question of fuel subsidies in energy equity look like in ecuador. well 1st of all there has to be an element of gradual and then we have to see it from a different perspective let's recall that ecuador is annoying producing country but nevertheless it imports its gasoline and diesel from abroad from the u.s. and from other countries in latin america and just doesn't make sense so basically the problem has to be

a balance of payment problem and what we have to do is try to orient some of this money that should be these revenues that are coming in from the hike in the prices of oil to finance the refinery in a petrochemical project so that we can have our own gasolines and not have this money from the prices of diesel that have been hiked go to paying for servicing for in that now this can be done also by substituting the type of energy that our cars use ecuador has a surplus of electricity because of the 8 hydroelectric power plants of renewable energy that where bill is doing that go to our government and this surplus of electricity has to also be. used by having what we call the change of the ellen energy matrix in replacing these fossil fuel 'd cars with electric cars this can be done as had been done by replacing old fossil fuel stoves with electric

electric stoves during the government and we also touching on another issue here or oil is an issue but also the indigenous movement is an issue here you know not good or we under president he sometimes was accused of exhibiting a paternalistic sort of condescending attitude toward the indigenous what is it what should we know about the role of the indigenous movements in these protests. well the images movement is in historic movement in that quarter in all of the endian region they have been active political players ever since the ninety's the ones that have opposed neo liberalism the most and during the quarter our government they emphasize their position overall to extract the industries this has to be understood and it's and i say they are right that having protested against a contract it isn't because look at what they have suffered from oil exploitation for example by chevron that left them most of the greatest oil spill and that much

in the ecuadorian amazon and that now the i.m.f. agreement the man's that the money from the i.m.f. bailout be used to actually pay back chevron for an international arbitration that's being sued against ecuador in the hero while that's remarkable andres arouse excellent insight from this former official at the ecuadorian central bank thank you so much for joining us. thank you for having me it's a pleasure. and it's time for your weekly global. market wrap starting as we do at the mo x. in moscow that stock exchange is for this week earlier today russian cell phone company m t s said they are canceling plans to list on the mo x. and they will stay on the new york stock exchange meanwhile the 3rd largest russian

stock exchange the st petersburg market is reportedly considering moving to russia's far east to be closer to opportunity. keep an eye on that in japan the nikkei is up for the week as well some notable spikes in both directions on that market during the week but ending up solidly on friday on continuing optimistic supports about u.s. china trade talks in shanghai their stock exchange the world's 4th largest and capitalize zation at $4.00 trillion dollars for the week one interesting note there regarding the recently launched stock market under the shanghai exchange that's a tech focused regional answer to the nasdaq global in next compiler m.s.e. a m a c i announced on friday that it will begin including star market information in their global investable market indexes in bombay the sensex is down for the week big selloffs no surprise in bank stocks late this week of course in the wake of renewed worries about the sector stability after the latest banking scandal at punjab in maharashtra co-op bank or p m c in australia the a.s.x.

is up for the week again hopes for a u.s. china trade deal seem to be a significant factor boiling that stock market and in south africa the all shares is up for the week a south african currency the rand also notably strengthening this week on those reports of optimism for us china trade talks moving to europe and the americas in paris the cac is up for the week the bank of france this week essentially said the french economy is treading water the central bank affirmed their previous forecasts a point 3 percent growth in france for the 3rd quarter of this year in frankfurt the dax is further weak and has been showing arguably surprising strength as germany seems to teeter on. edge of recession now market pop 2 percent just on friday and is up 15 percent for the year in the u.k. the footsie is also up for this week and surging on friday over optimism over a resolution of another fight over terms of trade of course the bungled brax at the

bottle notably the 50 foot c $250.00 index had his biggest one day rise this week since 2010 of 4.2 percent and moving to the americas in brazil. for the week there was a spot of going around of capital raising on that market this week as jewelry chain vara raised $500000000.00 in their 3rd i.p.o. shares gain 3.5 percent on that news in mexico the b.m.v. the both some he is down for this week still slumping growing pessimism about the dismal prospects for passing donald trump's new version of nafta rebranded as the u.s. m.c.a. and in the homestretch all the u.s. markets on our big board for this week as we just discussed writing a strong friday to close the week a strong day when we're looking a lot of green arrows due to optimism in those u.s. china trade talks and finally in toronto that toronto stock exchange is up for the week one notably strong performer on that exchange this week was mining company hubby minerals was jumped 5.8 percent on thursday also we saw some surprisingly

strong job numbers out of canada today with nearly 54000 workers hired in september and the unofficial employment rate falling to 5.5 percent and this has been your weekly global stock market wrap. time now for a quick break but stay tuned because just on the other side of that break g.m. strikes continue as the company's management sits with u.a.w. union leaders for talks but there's still no end in sight or an fix the car coach is standing by to give us her take on the situation and the future of the global auto sector and as we go to break here are the market numbers at the close.

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issue go. to startups to order some to get to meet until it was the little one wished they'd say look it is it's. a chance to schneider's tester snooped nuts the mesh told. to stop the president from the speech from this morning to students. as we have producers to ghost whisperer to snoop to come up when you will because that is the cousin with you swear your supporters to your shoes are you sure sure mr you should cook door for the one who's job does the request. welcome back and in some breaking news on one of our previous sidelines u.s.

president donald trump has reportedly announced what he calls a phase one deal on trade with china that he says will be written within 3 to 5 weeks we'll keep an eye on that meanwhile an asian summit 3 news chinee chinese president xi jinping is in the southern indian city of shinai for a relatively informal meeting with indian prime minister narendra modi while officials say there is no fixed agenda for the leaders in a 2nd meeting global trade tensions on the border dispute over kashmir may be unavoidable topics mr xi is holding hoping to calm relations between the 2 nations after china supported pakistan's resistance to anya's decision to revoke autonomy from the disputed region of kashmir and lock down nearly all kashmiri communications with the rest of the world both islam abad and new delhi claim kashmir as their own territory on trade china is india's 2nd largest trading partner with $87000000000.00 in trade crossing annually between their borders the 2 leaders hope to increase that number to $100000000000.00 by 2020 china also wants

india to join their regional comprehensive economic partnership which aims to create the world's largest trading bloc india has expressed concerns that entering the pact could increase their already $55000000000.00 trade deficit with china further. and in merger news shareholders have voted to approve a merger between u.s. war material manufacturers raytheon and united technologies the new company will be called radio on technologies and x. is expected to jump ahead of northrop grumman to take the title of 2nd largest war contractor in the united states united said knology c.e.o. greg hayes reportedly engineered the merger as the culmination of his efforts to remain. the company mr hayes is expected to become c.e.o. of the merged corporate entity pending regulator approval of the deal.

and in auto news general motors is said to have increased their offer to the united auto workers in hopes of ending the nearly month long strike that has put nearly $46000.00 g.m. employees on the picket line according to sources familiar with the issue g.m. has upped their investment pledge to $7700000000.00 for direct investment into u.s. factories the offer is up $700000.00 from the offer prior to the strike that would have included direct and indirect investment in direct investment would include joint efforts with partners while direct investment funds would be directly injected into g.m. factories while sources say the proposal is favorable to both sides only time will tell if the union and the auto giant can come to terms joining us now to dig into the details regarding the ongoing strike and other global auto news is the car coach lauren fix lauren good to have you back and has as workers at g.m. enter their 5th week of the strike in east lansing based interesting economic group they say g.m.

has lost more than $1000000000.00 in profits since the beginning of this strike if you look at this in global perspective does this problem perhaps not a crisis open the door for asian manufacturers to make inroads into u.s. markets. well what it's really doing is offering the biggest part of g.m. sales is trucks so they can only and they're having a truck sale going on right now and the inventory as of last week was good for only 2 weeks so we've got about a week left of inventory before dealers start scrambling so what it's really doing is opening the door for domestic truck manufacturers ford in ram or producing vehicles as fast as they can and they plan on picking up those truck sales because if it can't deliver those brand new heavy duty trucks and the and the brain is silverado isn't sierra's somebody else is going to pick up that market segment and it's looking like ford and ram are poising themselves to take a big chunk of that sale and that includes s.u.v.s if they can't build product people are going to look elsewhere when they do need a vehicle alone you always know the angles on these things each and every year we

see more and more state of the art tech being put in new vehicles as you know which seems leadership to spend majority of their time known resolving the strike do you think there will be an effect on him of the innovation stifling innovation in g.m.'s new products i don't think it's going to stifle innovation at all i just drove the brand new corvette on tuesday i'll be releasing the drive impressions next week and i will tell you they've done our big big jump in there and evasion lots of technology better build quality and that type of department that r. and d. that research and development that technology department is not part of the union that would be part of the construction in the building of those vehicles in the supply of components so this is going to be still continued innovation i don't think this is going to impact any of their technology in the future. returning to the story of this corporate intrigue renault the latest is renault's board voted friday to remove their c.e.o. terry bowlin blore as the come as the company along with their partner nissan works to shore up his troubled alliance after this scandal plagued tenure carlos' go not

all that's happened since his arrest what can we expect from the new leadership of the alliance and will these automakers really be able to get this alliance back on track. i think it's going to take some. for to get this alliance back on track they have an interim c.e.o. she's got a lot of experience with reno and i think you're going to see that blended in with what nissan's working on and mitsubishi and i think it's going to take some time this coup is been pretty ugly hope it's worth it in the end for those that planned and plotted this thing because the fact is it is impacting nissan and other car manufacturers and that's not good they need to get back together and work together as a team if they wish to be successful and if they wish to make profits which is really what the company's about and you sort of put a political lens on this in that sense are there any factions still in reno do we know of like are there are there a holdovers that will resist the new regime or what is there peace there or is there conditions for corporate peace within reno i think it's going to take some

time i think right now there are some holdovers because obviously you can't we had everybody out but i think some of the big players have been removed both at nissan mitsubishi and also at reno so if they can work together and with the new the new staff i think it will help it's going to take some effort on all 3 companies parts and still have ca's saying you know maybe we should talk so that's still possibly on the back burner and stepping a little bit away from labor disputes and skin employed auto alliances but staying with motors high end vacuum cleaner maker dyson has a plan abandon its plans to make electric vehicles company founder and engineer james dyson had planned planned to spend $2700000000.00 on technology and production of e.v.a.'s including a plan to build an automotive assembly factory in singapore mr dyson sent an e-mail to employees saying the company's board plans to close the automotive division the south china morning post. these are just too easy to make there's too much competition what you make of all this. i think it's also no profit which is the

real reason that he decided not to continue if there's competition and you can put out a better product which he's done with vacuum cleaners and hair dryers i have one of his hair dryers i think they're fabulous but i will tell you that if you're going to produce an electric vehicle and nobody's making a profit that tesla and that g.m. that nissan they build them because they have to and it is going to come into the market you've got to come in strong and you better have profit margin he still makes great vacuum cleaners lauren fix the car those things so much thank you. and finally in our heavily digitized era analog formats are making a limited comeback the return of vinyl l.p.'s as a list a means of listening to music has been underway for some time with the familiar stories of bottlenecks and waiting lists at the few remaining record pressing plants well now another retro format is having a bit of a moment yes it's the cassettes turn in the spotlight as noted by billboard cassette sales increased by 23 percent in 2018 and while that is

a large increase on a small base it's been enough of a surge in demand to create a shortage in the key input for making recording tape that is gamma ferric oxide the physical medium that carries a magnetic signal the largest tape in concert manufacture in the united states national audio company recently wrote to their customers to explain that their supplier the only ferric oxide plant in the world has been under renovation and therefore not productive for most of this year no word on whether the shortage a new tape is raising the prices for vintage unrecorded legacy formats. that's it for this time you can catch boom bust on youtube dot com slash 2 most r t so you next time.

it is. community there are people who believe that it's ok. it's really hard there are no jobs and you see the kids that ask and as a parent. i can come up with arguments and there's a lot of conflict within the game and between the teams close to the conflict i would say. there is maybe. close one on the children's children is good because the state of california alone makes $6000000000.00 a year of prison complex just to get some $25.00 where. you don't care. anything. sex guys are financial survival. when customers go by you're disappointed. in elf well reducible our. best undercutting but what's good for market is not good for the global economy.

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get more of the. journalist accuses his foreman network n.b.c. of trying to impede his pulitzer prize winning expose they have harvey weinstein's alleged sexual abuses incidentally clinton among those standing in the way. john suspected of murdering a 9 year old girl was taken into custody hundreds of rallies in the central russian city of surat of demanding the death penalty he spoke to the girls aren't. you so much media lisa wasn't ordinary so. dancing in gymnastics just as sweet child. as u.s. politicians celebrities and media express their sympathy for the kurds defending against the turkish offensive we look at whether the group is really values why they're supposed to do.