here on the news with rick sanchez where you know as we always like to say we do believe by golly it's time to do news again. this is a boom bust the one business show you can't afford to miss and washington coming up the race for a vaccine is on in pharma stocks reflect that we bring you up to speed on the state of the search and how markets are moving on the news plus. we're going to talk. that's a great job it is the only thing i was expecting. germany's top court has ruled on the boats were going to mission scandal offering consumers compensation for their

purchases we bring you the latest on the ruling from the ground in berlin plus as tracking becomes a reality for some nations in the privacy concerns are about could these moves set a benchmark for the rest of the globe we take a look straight ahead we have a packed show today so let's dive right in. and u.s. markets surged today on hopes of global economy's reopening and more specifically news regarding a coronavirus vaccine and vaccine is what we want to focus on here at the top of the program u.s. based pharmaceutical giant merck announced tuesday it will buy austrian vaccine producer themis bio science and would work with research nonprofit. to develop 2 separate vaccines now merck and also announced a new partnership with ridgeback biopharma bio therapeutics to work on an experimental oral anti-viral drug to combat cope at 19 as far as timelines for these vaccines merck's says the famous vaccine will be ready to start vaccinating volunteers. within weeks while the i

a v i have vaccine will be ready for human trials at some point this year now meanwhile maryland based biotech firm novak's says it is ready to start clinical trials of its vaccine this week in australia citing optimism on the developments. with your technology like we're running through the table we know the pre-clinical can translate very well and so are all. by our experience for the company says it will inject 131 volunteers between the ages of 18 and 59 at 2 separate locations within australia novak's hopes to see results as early as july of this year and these are just a few moves happening in the vaccine space with just this week and since the start of the pandemic we have seen reports of vaccines being developed by a multitude of companies in varying stages of development which have sent share prices sky high let's go through some numbers here novak which we just mentioned

has seen a 1000 per cent jump in their stock since the beginning of the year starting out the year at just under over $4.00 per share and hitting as high as $50.00 per share and then there is a biotech company madeira which reported positive data on its early stage human trials for a covert 19 vaccine last week well their prices have soared more than 200 percent since the start of the year moving to a no vo which has also last week reported positive data regarding their vaccine neutralizing antibodies in animals while their stock is up more than 350 percent just this year and it's not just vaccines either gilead sciences has been working on their experimental anti-viral drugs does appear which has been shown to short recovery time for coping 1000 by up to 4 days well gilliard stock is up more than 13 percent year to date but had previously spiked much higher we will note that merck has also had some has seen no substantial gain this year but is mostly due to being a relatively late comer to the coronavirus vaccine race now with all this news that

huge amounts of money is being made how close are we really to a vaccine that will allow life to return to normal so let's bring in the bus co-host christy i to break it all down now christy i want to get right to it what do. i need to know about all of these biotech and pharmaceutical companies making big bucks off the development of the vaccine despite not having a clear timeline for when we may actually have one when they may actually be working on a finalizing one for that matter. while the vaccine business is huge as we all know and the u.s. has spent nearly 700000000 of taxpayer money on chronic by research alone and that's more than any other country and so the way our system largely government grants exclusivity to pharmaceutical companies in order to conduct a later stage drug development a publicly funded invention and that is without requiring that these drugs be widely affordable or accessible to the public so this means that all the pharma companies are racing towards a huge potential payoff the u.s.g.

lacks the basic price control that other countries have giving these drug companies more freedom over setting prices for their products than anywhere else in the world and now on top of that as you just mentioned with all these boosted stock prices all these publicly traded biotech names are being massively inflated on hope optimism and rumor and the old saying is buy the rumor sell the news this is totally applicable right now in any hype situation such as this one where the valuation of the company rises on hype and rumor and chatter that some sort of vaccine is in the works and has potential now of course when reality hit that there are delays or clinical trials are not as significant as expected as was the case that gilliatt that's when you really felt the news and it's interesting because in 2020 and the way things worked out it appears that rumors are the new is which are also kind of pushing it up because you see reports day after day of oh they might have this or they've seen positive news in these trials but again we haven't seen any any any actual evidence here and i want to move into the next stage of vaccines

ok so we get a working vaccine now they're saying this could be of course 18 months away still to actually developing and finding it then we have to produce it and then what about the logistics after you finish developing this. and producing it to actually be able to administer it to the world's population what do we have there. yes will that be significant a lot of just to go challenges around distributing enough doses for the global population not to mention legal challenges is it going to be a mandatory vaccine going forward or is it going to be optional now experts say that this vaccination program will require millions of citizens of all age groups to vaccinate within a very short span of time and this will be very difficult given the lack of robust coal chains and coal chains are what's used to distribute these vaccines especially in a low income countries manufacturing enough doses and ensuring supply to keep up with demand will certainly tax a system and then before the vaccines can even begin there's also certain legal matters to address such as damage liability between the w.h.o.

the manufacturers providing the vaccines and the recipient countries and then of course the question is of course who gets the vaccine 1st how do you prioritize countries do you go where the cases are slowing down so that you can completely squash and eradicate it or do you give it to the countries that are peaking at the lower and lower income countries that currently don't even have good cold chain supplies in place and now kristie with all these companies that have been working on vaccines who have reported things or there's of course gilliard madonna no vaccine no for now merck involved who is actually the front runner in all of this. you know it's a lot of mixed data here especially as all of them are in completely different stages of their respective clinical trials so this makes it a little bit difficult to gauge efficacy as each one is starting from a different level but all in all china is actually the one to be pulling ahead in the race to find a vaccine chinese research teams are accounting for 60 percent of vaccine candidates currently in human trials already now there are 2 over $224.00 vaccines

in development around the world that's almost double that of a just a month ago and while the u.s. has the largest number of vaccine projects underway accounting for 49 percent of the world's total china is the furthest along in the development track 10 vaccines have progressed to churn in trials globally where 6 are chinese and this is the only country to have a candidate now firmly in 2 trials kristie want to take a broader look at markets so let's bring in sean hyman joining us from dallas he's the editor of logical investor will bring you into the conversation now when we talk about the broader the market surge that we've seen today and all renewed hopes and optimism of a reopening and now this new merck vaccine which just sounds like they're developing where is all this coming from it is this market positivity is it sustainable. not only that is the stain of all because if you think about it you know the work c.e.o. said that even 18 month timeframe was way too aggressive in so you're probably

looking at 2 or 3 years at best because the average vaccine takes 10.7 years to actually get through all the trials to the public so a lot of these things are in phase one trials and the phase 23 possibly face 4 sometimes and so it just takes a lot longer than people think so you're going to see stocks take another dive down once the market is really realizing this peas are way to hound this and p. 500 the earnings are declining and you've got retail investor sentiment that's way too bullish and that just didn't happen at market bottoms and of course that we have is that just discussed how farmers banking amid the pandemic but what do you see when it comes to overall market sentiment do you agree with what shawn just said here. i believe the data is definitely indicating that we are due for another pullback however there is quite a bit of optimism and hope in the market that will sustain this bullish rally so right now lock down have become laxer hope see consumer confidence jumped to 86.6 months which is a good indicator vendée new home sales in april also top expectations and for all the technical traders out there the s. and p.

crossed its 200 day moving average for the 1st time since march 6th so being a rise above that and having the 200 day as a support is quite a bullish indicator so obviously we are in the buy that when i saw the news mode so we shall see what the next when the other she will fall and i shot i want to take all the other another step aside here all is now rising above 34 dollars a barrel following speculation from russia that the market may rebalance as early as next month after the historic output cuts from global producers is this an accurate assessment or is it too optimistic to count on a demand recovery when half of the world is still on lockdown. so i think there's going to be recovery you know it may have might end up being july august something like that before there's a balance but remember markets anticipate that type stuff and so do traders and investors will start running up oil in anticipation of it so i do believe oil can continue to head up higher overall now there will be volatile pullbacks for sure and they'll be sizable but i do believe the oil can make it back to the you know

4555 area either side of the 200 day moving average i believe you'll see it you know settle in and then you know there are a bit of supply that will cap it out probably somewhere around in that area for a good while and i guess shot i guess the big question i have about that is when are we going to see that when do you anticipate those those numbers normalizing. i think that you know you can step back pretty fast to those areas because you think about we almost put the market into the economy rather into a coma not just us but globally and that we're kind of flipping the switch slowly back on and so there's a lot of demand that's going to come back in and help soak up some of that course opec russia even the u.s. drillers everybody's trying to get supply down so i think everybody's got incentive to get it back up it's more of a dimmer switch than a necessarily a normal pull so it's there it is kristie i want to move. to train us and try to continue to escalate what's the latest there. so the 2 sides continuously are

pecking at each other and on monday the u.s. national security adviser o'brian he publicly repeated reports that china has been engaging in espionage on us but virus vaccine efforts and that is without any definitive proof or source or backup evidence so of course as far as response in a tweet that read is this the new normal logic that if anyone has something better than mine then it must be stolen from me so china also called u.s. threats to impose sanctions a big fat nothing burger and that the rights to remove hong kong from its special trade status a political bluff china reiterated that the entire western world will not follow the u.s. because it was unable to provide enough products and goods services labor manpower and compensation to offset the losses if the western countries become alienated from china so this is tragic let's remember the rest while in a very difficult position to choose one side and risk the consequences of the other shown harman of the logical investor and boom bust co-host christiane thank you

both so much for that expert analysis. thank you and there may be some relief for the thousands of consumers swindled by the volkswagen emissions cheating scandal after ruling in a german federal court monday artie's peter oliver is in berlin and files this report. diesel gate scandal just won't go away as germany's highest civil court has ruled that folks walk it must buy back from customers cars that were designed to cheat tests. the plan to keep the man reimbursement from the defendants for the purchase price of his vehicle according to the current condition of the vehicle must make. this ruling has set precedent for around $60000.00 similar cases across germany that are currently pending the w. has already settled a previous claim by almost a quarter of a 1000000 german car owners by paying out just short of

a $1000000000.00 there are most of coalesces accepted the ruling and put out a statement saying they'd be in touch with those seeking compensation volkswagen is now seeking to bring these proceedings to a prompt conclusion in agreement with the plaintiffs we will therefore approach the plane as with adequate settlement proposals worldwide volkswagen is forked out around $33000000000.00 in fines compensation and buyback schemes since the scandal 1st broke in 2015 the lion share of that some 25000000000 going to customers in the united states the emissions test cheating scandal continues to rumble on in july the same court that made the ruling on monday will be hearing the case against dealerships that sold the cars while senior current and forward b.w. employees here in germany are still facing criminal charges over their involvement in this scandal. and time now for

a quick break but hang here because when we return as tracking becomes a reality a person nations of the pandemic privacy concerns are about to move to set a benchmark for the rest of the globe we take a look straight ahead and as we go to break here the numbers at the close. listen stumbling online algorithms dictate what you get to want to go to portable

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welcome back as we discuss markets surging amid hopes of reopening economies and the prospect of vaccines it's time to take another look at the trends and spread of the crowbars with r t correspondent cytometry so let's star in the us here what's happening today so 1st globally there is now over 5600000 corner of r.'s cases reported and more than 1700000 of them are reported in the us whereas the death toll has now approaching 100000 people but the good news is that the pace of new cases and deaths is slowing here in the u.s. so some of the hardest hit states like new york and new jersey have reported a sharp downward trend in new cases while other states from oregon to pennsylvania are also showing signs of progress but even as the picture of the national the national picture improves overall about a dozen states are also reporting

a small increase in numbers now as states that opened earlier are never fully shotgun are among those are signs of further spread not for example bama florida georgia north carolina tennessee are among the states that had a recent growth in u.k. says and several weeks after reopening now arkansas and north dakota 2 states that have shut down businesses but did not issue formal stam home orders also are reporting that increase in cases now washington d.c. that has been actually on lockdown for weeks and also saw a jump in increases in new cases and they're planning to reopen phase one on may 29th but now also want to take a look at how the u.s. compares to top fire. countries affected by the virus by their number of deaths now

while you see here us actually in the number of deaths it's going down there is 2 countries that are increasing are brazil and india vs and russia actually all 3 india russia and brazil you'll see the trend there are actually increasing in debts worse as us and the u.k. are actually going down so this is where we are at the moment in terms of just the countries in their trend in the number of that rant but what about nations worldwide with the most new cases that we're seeing right now so the list of the top 5 countries with the most new reported cases and this is monday $525.00 now you have the u.s. which is still leading in terms of the number of cases they have $1.00 and then you also have but then we have total deaths to us is number one and then number 2 is

brazil not just within the last 24 hours brazil has reported over 13000 new cases followed by russia 8900 cases and then india 6400 and peru over $4000.00 cases now proof for example is one of those countries that was actually one of the 1st in latin america to take extreme strict measures but the problem is countries like peru 49 percent of the population of their own are for a greater so it's very difficult for them to actually stay at home and to actually follow strict orders because that's what they need to go to places like a market where it's extremely populated so that's been really difficult for them to contain the virus and then you have india where the most of the spread of the virus has been in the financial hub and then we. we have russia that seeing a lot of new cases there now become not become number 3rd they're climbing up and

up as we see and yet there are death toll is relatively low compared to other countries and then brazil it just seems it's been climbing every single day so that's one country that everyone is watching right now to see how brazil is going to be containing this virus argue correspondents i would have to thank you so much for keeping us up to date. i. and in the midst of the crowd of virus pandemic national governments and big tech are racing to create massive new forms of contact tracing chinese authorities are massively expanding the use of health tracking apps while simultaneously creating individual rights for chinese citizens and their data meanwhile the telling government is recruiting 60000 so-called civic assistance to report on covert 1000 rule breakers and joining us now is just this boom bust co-host and investigative

journalist ben swan ben thank you so much for joining us as always now china is getting ready to enshrine individual's right to privacy and personal data for the 1st time it is a symbolic 1st step as more of the or more of the country of 1400000000 people become digitized what exactly is china attempting to do here. yes it's somewhat unique people are i think generally surprised to hear those that phrase china and individual privacy so they're all what's going on but what china is essentially doing is recognizing it has a fast growing set of the internet you know internet usage there is extremely high data usage is extremely high and data collection is extremely high and so what china is saying as a country is that there needs to be some protections put into place to really protect an individual's rights and privacy online and what they're doing is they're kind of creating a system that would do that now so far in the legislation they've created is without very many specifics as to exactly how it would work but again it's fairly

interesting that they would do this it is important to note though this is relating to internet companies and data collection companies not the government you know so there are the issue of privacy is for tech companies here and their so-called protections or their so-called protections do not protect from the chinese government correct. yeah that's exactly right the government is not going to be a part of this when we say that china is creating individual user rights in terms of data and privacy does not include the government which has as you know some of the most intrusive and data monitoring apparatuses in the entire world the chinese are very concerned about what's online and what chinese citizens are seeing so they're still controlling that and you do not have a right to any kind of privacy in china from government surveillance but the chinese are saying you should have some right in terms of your data and privacy when it comes to these tech companies and so that's what they're working on create no one to cover this italian spear privative italian government is preparing to

recruit jobless people to function as a volunteer social distancing enforcers and the government will recruit up to $60000.00 suppose it civic assistance to perform functions such as reporting social distancing offenses or any absence of mass is this something that will actually come to pass in italy and will it stay that only there or is this going to spread out to other nations in europe and maybe the rest the world yeah i can see it staying only there i think the correct term it should be snitches there are going out and getting 60000 people to snitch on everybody else and look the idea is we're going to monitor whether you're wearing a face mask how close you are to other people there is a bill in the united states is attempting to do a very similar thing that would recruit again people from nonprofits to monitor their communities and so listen there's a tech angle to this but there's also the angle of governments hiring people with taxpayer dollars to monitor each other and i don't see how that ins will for most people co-host bents one thank you so much for that excellent insight. thanks.

and finally china's space program is set to launch a mission to mars according to officials in beijing now the plans include an orbital probe designed to study mars as well as a robotic rover to explore the surface of the red planet now this is the 1st rover mission to mars for china's space program which has announced efforts to expand its space exploration efforts these plans include development and launch of their own space station above earth by 2022 as well as a possible mission to land chinese astronauts on the moon and a programming note here on wednesday's boom bust we will be taking a deep dive into the world of commercial space development as space x. will attempt to become the 1st private company to launch humans into orbit and that's it for this time you can catch boom bust on demand on the brand new portable t.v. app available on smartphones through google play and the apple app store by searching portable t.v. or stream us to your t.v. by downloading portable t.v.'s on apple t.v. and online at portable t.v. keep an eye out for a variety of content coming very soon find it all now have portable t.v.

the next that. tough and i mean i'm on the phone in paris to my sounds when you're both with us in . balloch itself movie theater i. was in this way got to dog so hard not to think of the other dismayed to see the look of a coward and an empty stomach and if. this is the only think that we do is

music because everybody fights his way. to. the floor you can fall off the feet all found this bill frist woody allen you have all given a lot of. what i think is this is the fans that is the constant. through. welcome to on continent today we discuss socialism capitalism and eco side with victor wants it to be fine for everybody to have a car and to do go on producing everything as long as everything to just be done on the basis of different kind of energy but the point is that it's not enough just to

run all our private cars with solar cells the whole problem of how much is used up in the way of materials how much space is taken up and the also the fact that it's if you don't change the social configuration of power any progressive change that you might bring about can easily be undone by the same people who put them there in the 1st place you can't use the same system to correct itself the created these problems in the 1st place. the struggle to prevent eco side now taking place across the planet is at its core a battle against corporate capitalism itself to save ourselves from environmental catastrophe and ultimately extinction there must be a radical reinterpretation of our relations with each other and the planetary systems of life on which we depend this will only happen when we embrace an

alternative vision of human society one where the natural world is not a commodity to be exploited and destroyed but honored and protected as the source of life itself time is running out how as we head towards ecological collapse can we instil new values and a new ethic in the human society. how we wrest power from corporations is this even possible joining me to discuss the climate crisis is victor wallace author of red green revolution the politics and technology of eco socialism let's define eco socialism to begin with you do in the book well the basic idea of socialism is the elimination of class divisions as ultimately the basic idea of ecology is to restore some kind of balance some kind.