tv Boom Bust RT October 23, 2019 8:30am-9:01am EDT
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bragg's it on saturday and again on monday pressed members of the house of commons on tuesday with an ultimatum saying he would push a bill to call a general election if his version of bragg's it failed to advance in a vote reports a vote influencing intrigue in fallback plans percolate throughout the day in the event the vote in the commons produced a typically ambiguous but drama building result the withdrawal agreement bill alternately advanced past a 2nd reading with 329 votes in favor and 299 opposed however the p.m.'s quickly m.p.'s quickly qualified that outcome by then voting 32223082 reject mr johnson's plans for a thursday vote on final passage mr johnson threatened early in the day to pull the withdrawal agreement and push one to call his own an election if his plans fell through they were apparently for oil by the house of commons. and now that fake it all down today is ambivalent actions we're now joined by former m.p. of scottish sky shared
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a welcome. tommy after today's touted as. high that it is touted as decisive we finally have some results though ambiguous on the face with the bill advancing but the p.m.'s timetable being rejected again so where does the process go from here just over an hour ago we just saw a report that mr johnson called the results joyful which seems quite remarkable so when the prime minister back up his threat to push for election are trying to accommodate the common house of commons on a timetable. as a good question that krissy the problem is we probably have taken one step forward and 2 steps back to the because there was a vote in principle and support of the board of joints and it was that all deal which morse commentators even though was a supporter no believe was even worse than trees amazed so that's the irony of ironies however the m.p.'s in the house of commons then did as they slumped borders
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johnson firmly across the face because he said he was demanding to have this whole process done in 2 days and he wanted to buy the 31st of october no no one knows why the stock to foster one. crucial to board assurance and some people are speculating maybe he's got a bet on it with some bookies or something but the crew says there is no we could go through such a complicated 100 page bill these so the m.p.'s voted in principle in support of the bill but they said but not in 2 days they want x. to the team to analyze scrutinize and perhaps a made the bill so this saga is far from over it's going to drag on even for the. as far as what's motivating the leaders here to get this done we also heard rumors that leo to car the irish taste such as eager to get this done
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before his tickets for a share on november 1st we'll see if that happens but on the e.u. side of this process we also saw some movement today from donald tusk and michel barnier way what has been the word from the continental e.u. leaders about today's events most pointedly on whether or not they will accommodate delay or extension from the u.k. side. the union leaders are absolutely desperate not to appear to be forcing a new deal but except no if they unite people leaders will to tone roland in the next few days and see no no no more extensions then they would effectively a new deal breaks and all of the uncertainty that brings across the whole of the utopian union they wouldn't do that up until today they were saying well we're not very pleased no let it stay engine do you really need more tame except to etc after today's meeting and vote in the parliament it's absolutely clear the european union
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leaders will get an extension probably until the end of january and that will undermine the authority of broad assurance and bought his joints and said that if he didn't get brakes it done by 31st of what then he would die and i'd know there are plenty of people all over scotland offering to dig those debts she's fought mr johnson to enter into but while it keeps these what did not or not remains to be seen he said that if you lost this tainted building vote then he would force a general election quite frankly i think that's what's absolutely necessary to break the deadlock the people of button and that means we'll scotland and northern ireland accompli. scotland voted to remain northern ireland voted remain the leave we always voted leave however they didn't want to leave with
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a deal the should have the option to them a general election and as the voice of the people of england what if to leave the european let them do that that's democracy but the people of scotland are clearly growing and a different path and interestingly interestingly daniel the people of northern ireland appear to be going in a different path as well all of the poor is no assuring increased support for a referendum on a united ireland wouldn't it be absolutely ironic if borders joints and rushing to get a break deal actually led to the breakup of the british state with scotland going for independence and northern ireland for reunification with the island of ireland so now we've touched on this before but the risk that this entire process can be to a disunion in the u.k.
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seems to be under played in the coverage the vice president michel neal put a point on today suggesting that a poll on unifying the island of ireland under one flag could happen within 5 years say clearly baghdad has become a catalyst by the us so what do you make a mess o'neill suggestion. i think mr kneale of feeling is trying to articulate the mood music is playing across the north of ireland just no there is obviously quite. placable unionist support in northern ireland to remain part of britain however that is beginning to free and isn't as strong as it once was because people are worried about leaving the you'd opinion that it me to leave. leave them economically washed off in the north of ireland and they don't want the if they
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keep us as built that it would be better for northern ireland to join ireland and become a united ireland which makes eminent sense and is logical to most people if the people of northern ireland vote for the up then they would do so on the basis of believing it would be better economically for the families for the children for school and for all of the 7 seas across the island that it's safe to lee not to be rude i mean years ago you this it or that would never happen that is no time jubal prospect and following up on northern ireland the federation of small businesses there has weighed in with their disappointment over mr johnson's qualities in the deal over the so-called backstop issue so setting aside the timetable could mr johnson still lose on a final passage whenever it comes over these lukewarm reviews on the merits of the all from business groups and this very interesting backstop backlash.
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that is new do done there on a whole series of crucial debate still to come on this was that all agreement it was supported to d. in principle with a majority of 30 that included the number of libor m.p.'s 19 labor m.p.'s voted for the out with that all agreement however it no goo is to the detailed examination and that's where m.p. m.p.'s compute amendments and one of those amendments for instance could be the fatal deal as a referendum of the whole of britain again so that people get to vote on whether or not they support this do not make noise when support of parliament but you know what. was borders johnson how we know lost the support of the d p i mean b.
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for all of that we should manage to keep the do you be on board but as joins is driven them off because he's done things in relation to this deal in relation to a home ireland released to northern ireland and the european union which. from the utopian the england and wales and scotland that that has been too much for the do you to swallow. and susie as for the do you think that a reactionary party i think the rate want to. think. of the union i've been in the main by joins is do show that is new got into the new got in t.v. that this will fail really goes through parliament i still believe my general election is more lately than this deal going through before the 31st october there is a solid prediction from tommy sheridan former scottish m.p. thanks so much for your insight. dutch investment from process and he is looking to
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make a move into the british food delivery sector by making a $6300000000.00 all cash offer for the u.k. delivery company just a.p.l. say process that it plans to offer a $9.10 per share directly to its shareholders for the next 4 weeks scuttling a planned merger with another lead a company take away dot com take away previously offered an all stock acquisition valiant just at a 15 percent premium but shareholders voiced opposition to the merger saying that the offer was too low but this new offer is even lower however they all cash offer makes a slightly more appealing and richer than all stock in just paid for their part suggest that shareholders should reject this offer as well saying that it undervalues the company both as a standalone company and part of a merged group with take away process has already put big money into the food. delivery sector and vesting $2500000000.00 across more than 40 markets including germany's delivery hero india's and i food and also nearly
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a 3rd stake in chinese internet goliath 10 cent who's behind made when the livery on the news tuesday just the stock shot up nearly 26 percent. as the threat of massive wildfires once again builds in the u.s. state of california p.g. and e. the utility is threatening another power shut off that could impact hundreds of thousands of residents that is raising concerns of a negative impact on the state's economy archies rachel bludgeons bring us up to speed on what it all means for the world's 5th largest economy. the largest california has confirmed that as many as half a 1000000 residents could lose power this week as the threat of wildfires continues to increase in the area the latest shut off from pacific gas and electric could impact california resident in 15 counties which are mostly found in the sea euro
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foothills and the san francisco bay area in a statement the company gave a 48 hour notice that the potential safety shut off his plan for varying start times depending on locations beginning wednesday evening and is expected to affect approximately 209000 homes and businesses and it's many of those residents and business owners who are questioning whether the blackouts are necessary and warning that the consequences could be life threatening they framed these power safety shots as inconvenience or hardship for but they don't realize this for people disability it's life threatening for some disability this preemptive power shut off would come just 2 weeks after p.g. and e. issued another blackout that impacted more than $2000000.00 california residents many were in the dark for days as a result but the company's chief executive defended the decision to cut off power in an effort to prevent wildfires i hear skepticism about whether the shutoff was truly necessary and whether the scope was too large. skepticism that we did this to
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save our own skin and rather than for public safety. the fact is that we did this for one reason and that is safety p.g. and e. is transmission lines were named as the cause of the deadliest and most destructive fire in california's history last year and the company filed for bankruptcy in january claiming it was facing more than $30000000000.00 in liabilities lot of dangerous wildfires over the last year have raised concerns about the economic impacts as the state of california boasts the 5th largest economy in the world experts are warning that just the last blackout alone which lasted around 48 hours will cost the state more than $2000000000.00 as a result of mounting frustrations with the utility the city of san jose is now leading the charge to strip any of its status as an investor owned company and turn it into a nonprofit electric and gas cooperative which could result in an unprecedented
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buyout that would impact more than 16000000 customers in washington rachel blevins r.t. . time now for a quick break but hang here because just on the other side you know we were drama continues that softbank moves in to take over the whole working off a start up investigative journalist fans want to standing by to give us the latest on the war that we go to break here the number of our callers. her. there are no official statistics in india consenting children who have been lost all separated from their parents some to estimate that everything 8 minutes in the country the child goes missing. i'm not.
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looking at. the national human rights commission stating that $44000.00 minors go missing every year while the police quoted. the united nations children's fund has described the situation as genocide and various sources suggest that in india there are several 1000000 missing women and children. in a world of big partisan movies. and conspiracy it's time to wake up to dig deeper to hit the stories that made stream media refuses to tell more than ever we need to be smart we need to stop slamming the door. and shouting past each other
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it's time for critical thinking it's time to fight for the middle for the truth the time is now for watching closely watching the hawks. during the great depression which i'm old enough to remember there was most of my family were unemployed. and it wasn't it was bed you know much worse objective listen today but there was an expectation that things were going to get better. there was a real sense of hopefulness there isn't today today's america where shape my the 10 principles of concentration of wealth and power. reduce democracy at track so low do no engineer election manufacture consent another prince according to. one set of rules for bridge.
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that's what you put her into the. will which really is dedicated to increasing virtue of just. one of the most influential intellectuals of our time speaks about the modern civilization the america. softbank is in advance talks to take control of we were whose valuation saw a spectacular fall from $47000000000.00 earlier this year to now under this new
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deal worth only $8000000000.00 about a 6 of what the company was america go under this new deal soft bank would put more money into we work to purchase up to $3000000000.00 in equity along with $1500000000.00 in acceleration of equity has already committed now this is on top of the more than $10000000000.00 that soft bank has already funded we work with over the years as its largest investor in addition c.e.o. at a newman would receive one point $7000000000.00 to step down from the board of directors give up his voting rights and walk away from the company the week company is now focused on cutting costs in order to survive selling off excess and non-essential portions of the business several the startups it acquired are for sale and it is now gary up for more massive layoffs but with the money running out we worked. running into a catch $22.00 as it is so short on cash it doesn't have enough money to pay severance to the affected workers the company also said it would cease operating at school we grow after the school year. and to break down the latest episode in this
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corporate draw we bring back investigative journalist ben swan so soft and just say more good money right after bad money and it reported that we work needed to command 20 $4000000000.00 in valuation just to break even for a soft bank so now that it has sunk another couple 1000000000 down they're really doubling down on their bet and cost averaging down essentially so what do they plan on doing with we work after assuming control. well that's a really good question i mean part of it is to get new leadership in there one of the top executives from soft banks already going to move in who also by the way was an executive with sprint they are going to actually take over kind of the path forward what's interesting about we work is it's a company you mentioned that it doesn't have the money to do anything because it doesn't make any money it's this is such an interesting story because you have a company that never made money it was a great idea it's completely been funded on investment and now the c.e.o. who drove it into the ground walks away with one point $7000000000.00 and softbank
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is continuing to go after it thinking they can turn it into something maybe they can but we're talking about having to get that valuation to at least $15000000000.00 just to make up for the money they're putting in right now. and we've always we've had this prevailing culture in the digital economy air of founders 1st right and we touched on this before mark zuckerberg built facebook you on mosque built doors he created twitter and they're used to being treated a savant and geniuses that can do things other people can't and they follow different rules from everybody else do you think though that this disaster changes that mentality and we may be turning toward something different. well i think it changes the mentality of believing that companies can exist simply on the investment and never have to turn a profit and that they can be in a constant cycle of investment before hitting an i.p.o. i mean look if you are just any investor and someone comes to you when asked for money one of the 1st questions are going to ask is how much money are you making
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right now and why would this make money that is not the question that's been asked of tech world for years and certainly not moving into an i.p.o. when they go to the public and say we want to offer this to you one thing that has not been required is that you can actually make money with your idea you can build out these fantastical things and then have them not turn a profit so we are in a very interesting time i think in terms of. yes turning the corner on that because a lot of people would look at adam newman and say you know here's a guy who really drink his own kool-aid and believe a lot of things about itself and he's the one who walks away with all the money nobody else is going to come out smelling like a rose here or maybe a soft bank if they can turn this thing around and make it work but for the other employees who are there most of the employees who are considered now not essential are going to be laid off they're going to be significant layoffs of people losing their jobs as he walks away with his money because it wasn't real and so i think that's where we're turning the corner is to say it's enough of this kind of fantasy
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land tech world does it make money or doesn't it well before you start celebrating has paid a with this payout newman could have the potential to pocket $970000000.00 after deducting both legal and liabilities but that he's actually still on the hook for about $2000000000.00 and it simply exposure and now we also have recently testified under oath that he is also financially and liquid so why have the world see these guys as visionaries from here and looks like more like their total frauds and con artists for investors so why do we give them so much credit. well we give them credit because they love still get to live the lifestyle as if they are truly billionaires who actually have something that is that is liquid and i think what we when we look at a lot of these companies is that you know a great example. out of newman a guy who yes he's going to walk away with a bunch of money and then as you said he has extreme exposure but softbank is really cutting him a lot of deals and kind of funneling
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a lot of different money to him but interesting lee soft thing by itself appears to not really make money gets not a 70 investor in fact most of the money soft think is making is because they don't pay taxes in japan because they shift the losses between their companies and so there's a lot kind of if you look at them by themselves they don't necessarily make money they're not necessarily brilliant when they're doing so it feels like it feels i think to a lot of people like it's a big shell game where these guys are able to live these lives and live as if they are unbelievably wealthy but there isn't actually money or value in anything they're doing but i think we had to get to this point for some of this to come up at some point it has to crash at some point it has to come falling down i guess this is that point maybe this is where if it gets so you make it reaches the end of the line cryptocurrency analysts and investigative journalist means one thing going to break it what are these guys. what the odds of
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a traitor is between china and the u.s. still in limbo china is determined to become more self-reliant so that the u.s. can no longer dangle the as card over its head the ministry of science and technology recently revealed the hung on $71.00 seeds that produce nearly 4 times the average yield for soybeans grown in china after multiple trials have concluded that the hybrid species could actually pas and one more resilient to harsh weather this new hybrid species could help china get around the higher cost of importing so i'd be more than 80 percent of soybeans plantations why now use. we modified species that have been modified with a foreign gene to provide herbicide resistance but planting g.m. crops is illegal in china so researchers have to find alternative ways to increase yields and reduce cost this team of researchers created new species from domesticated and wild hybrids by accelerating the mutations that occur in sunlight . and species these soybeans do not contain any foreign genes researchers then
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selected and boosted genes that they already had to improve feels enhance specific traits such as strengthening the stock to help it thrive agricultural authorities have now approved commercial plantation of 171. and finally one big piece of loot in the massive one m.t.b. scandal in malaysia has surfaced on action once again at the eye of the storm is a super yacht called tranquility formerly owned by fugitive financier take joe alias jolo the missing man at the center of the one m.t.b. scandal indonesian authorities seized the seafaring mansion in $28.00 scene after mr lowe had fled eventually selling it to begin to group for 126 $1000000.00 a bargain basement price that mr low bidder really did known through a spokesperson saying a malaysian conglomerate has since rented the boat to ultra rich partiers but now
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again soon will try a 2nd time to auction the storied ship for 200000000 dollars 70000000 dollars more than they asked for the 1st time malaysian authorities may want to look out for straw buyers for jolo well that's only good prize 200 dollars 2 $100000000.00 for a yacht i mean i don't even know why you want to spend so much on a yacht when like 10 percent of that price is simply on upkeep nothing keep it like actually piloting the thing and how i think renting is much better business where i mean it was so we commonly bought at 126 and i in through stand it's tied to a scandal but. i don't think joe lhota me frank doesn't really have that sizzle to make it a collectible really it's fascinating what people like to buy that by this time you can catch boom bust on directv channel 321 dish network to 87 on plenty of a the free t.v. ad tell it to 79 or you can always catch us at youtube dot com slash through most of our team so you act on.
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facebook and google started with a great idea and great ideals unfortunately it was also a very dark side. 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 see if they have this kind of power then democracy is an illusion the free and fair
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election doesn't exist the more growth we give them the sooner we're all. is you'll be a reflection of reality. in the world transformed. what will make you feel safe from. the isolation. munity. are you going the right way or are you being leg so. direct. what is true what is faith. in the world corrupted you need to descend. to join us in the depths. for a mate in the shallows. exists
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is a stick from the water bottle phone in the stomach of a 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 ones there the litter bugs are trying this way industry shouldn't be blamed for all this waste the company has long promised to reuse the plastic. tank on your phones at a special projects funded. on the. team but for now the mountains of waste only grow higher. join me every thursday on the alex simon show and i'll be speaking to guest of the
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world of politics sports business i'm show business i'll see you then. 6 hours of talks between the presidents of russia and turkey resulted in a new plan for northern syria one that sees the removal of kurdish y.p. g. forces from a border buffer zone. meanwhile the u.s. defense secretary arrives in iran to discuss baghdad's objections to american troops relocating there from syria you just come from saudi arabia which has been far more welcoming even agreeing to pick up the cost of the u.s. military there. also this hour fears rise that the mistakes of the 2000 a crisis will be repeated as economists accuse us ratings agencies of going easy on big firms that are heavily in debt. and the 1st ever russia africa summit.
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