when somebody find themselves well it's a party we choose to look for common ground. this is blue bus the one business show you can't afford to miss bridgeboro in washington coming up beijing has responded to the united states efforts to force a sale of social media picked up what is required from china look like and we have expert analysis on the controversial issue and a lockdown orders are going back into effect in some countries as the world

attempts to limit the spread of cope 19 we'll take a global look at these new orders along with the spread of the virus the oil industry continues to struggle due to a lack of demand caused by the pandemic will break down the situation and what it will take for oil to make a comeback impact show today so let's dive right in. and we'll leave the program with more pushback over chinese social media app tick-tock and whether or not u.s. tech giant microsoft will actually be able to take over as we have reported president donald trump has said that he will take back in the u.s. by september 15th unless a deal can be reached for microsoft to buy the company's u.s. operations but now china is saying not so fast in fact beijing is now saying that it will not accept microsoft's acquisition and editorial in beijing backed china daily states china will by no means accept the theft of a chinese technology company and it has plenty of ways to respond if that ministration carries out its. a smash and grab no specifics were given what were

tally ation might look like and the chinese ministry of foreign affairs characterized the move as unfair and purely political. so called national security holds no water at all it is just looking for an excuse to the relevant company carried out business activities in the us are going to gordon's with market principles that an international union and abide by us laws and regulations but the us hasn't been who's to research and so on and suppressed unwarranted charges. and joining us now for a deep dive into this is boom bust co-hosted investigative journalist ben swan and dean of the miami her business school john quotes thank you both for joining us today now i know better i want to start here we talked about this monday and you were highly critical of this u.s. decision to force the sale of tic tac to a company like microsoft are you at all surprised by beijing's response. no not at all surprise i actually agree with beijing and i rarely do that but in this case i

do agree with them because look i think it does feel like theft it feels like the u.s. government came in and said a couple of things number one we're going to require that to talk be removed from the country and then suddenly said but if you want to sell it to a u.s. company you can do that which makes sense for the owner by the way of tech talk because otherwise it's lose your company in the u.s. and in india and all these other emerging markets possibly canada new zealand australia if you lose that market then the company in those places becomes worthless so the offer that's being made to you is much like the mafia would make it you can either go away or you can sell and if you sell then you know at least you get something for microsoft to take this on and then the president's talking about how he wants a big chunk of the money to go into the u.s. treasury because the u.s. government helping to broker this thing i mean it just seems so corrupt that it makes every accusation that in the u.s. we make about china and about their bad dealings i think pale in comparison it's

interesting that you bring up that mafia and now a g. ben because on that treasury issue it seems like somebody say oh and we want to cut of this as well and i want to bring that up what the president saying insinuating some of this money of the purchase was actually going to go to the treasury let's play that sound bite. i did say that if you buy it whatever the price is dead goes to whoever owns it because i guess it's china essentially but more than anything else i said a verse substantial portion of the price is going to have to come into the treasury in the united states because we're making it possible for this deal to happen now dean quelch what is he trying to get at here why would some of this funds from the purchase go to the treasury. well it's a mystery to me and i think it's important to underscore that the level of chinese investment in the united states is only around about 5 or $6000000000.00

but the level of u.s. investment in china is around about $120000000000.00 so in terms of in terms of potential retaliation by beijing there are a lot of u.s. assets in china that could be potentially called the skated and ted for tat escalation so i think this is a very unfortunate turn of events that may be some truth in the issue of 70 or 80000000 u.s. consumers now being on tech talk and the privacy of their data might be a risk given what we know about chinese law and the requirements on chinese companies to turn over data to the government on request there may be some truth in that but to address the issue in a unilateral way just picking on one chinese company that happens to be successful

in the u.s. rather than through a general policy does seem to me to be foolhardy and it seems like we've seen this actually kind of over and over again you mentioned one company but obviously we had the situation with walk away now we've had the trade dispute hong kong has rallied things up we've all. so had the i mean there is a lot going on in this back and forth between u.s. and china relations and in that situation the relations have really deteriorated is this a new low for those relations. well it is a multi-faceted downward spiral. for sure going to continue through to november and i think president trying to secure a 2nd term there are some people who would say that his major objective in a 2nd term would be to do to china what ronald reagan did to the soviet

union but i think that would be a very very much tougher road to hoe so i'm i'm nervous about what might happen as this perpetual sequence of. upsets continues to deteriorate what is the most important bilateral relationship in the world and it's very interesting because there isn't a whole lot of new developments since trump took office here in what china has been doing but it seems that he's really the one taking issue with that many may be critical of previous administrations for not doing so but i want to stick on this and take tax situation many in the tech industry are split over this decision with some say it's fair game to stop china as a geo political rival and also point out that china has for years taken advantage of american companies are those really fair points when it comes to the situation. i don't think they are and the reason i don't is because it look even the u.s. is standing and saying from the moral high ground china is behaving badly the

answer to that is not to say we'll double down and i can even worse i mean the idea that the u.s. government is brokering and that's i think the biggest issue i have with this is the way that trump talks about brokering the deal so that money flows into the treasury. why would the u.s. government in a free market society ever broker a deal for anybody number one number 2 if ted talk is bad then ban it don't hand it off to a giant u.s. corporation like microsoft who will by the way also use and probably will misuse data as well as facebook as as twitter has as google has look the dean said something that's very important here i think and that is he pointed out that there is no general policy being created that is significant the u.s. government if they want to deal with this needs to create rules and laws for how data is handled by everyone not simply because data might be accessed by the

chinese government it's bad but if data is being mishandled or even accessed by the u.s. government it's good either data is is something worth protecting or it's not and did quote actually want to follow up with you on that exact point that ben's making i mean you've been in the business world for for decades and actually seen as technology has come up and microsoft has come to dominance along with these other tech heavyweights i what how do you feel about this when it comes to control of data should there be more regulation in that regard or or what are you seeing as the dean of the miami harvard business school. well i think that definitely should be more regulation and. the european union frankly has done more by way of leadership in this area than the united states or any other country what we have to realize though is that there is a percentage of consumers who are perfectly oblivious to the

the dangers of having their data readily shared and there is a significant minority of consumers who are extremely protective of their data so in a sense from a political point of view the elect the. true it not just in the u.s. but in many other countries as split on this particular issue many people don't see it as a problem and a minority do but i think that one thing we haven't mentioned that's important in this case so i'm not necessarily defending the the administration's position but it is interesting that canada new zealand and australia that off 3 of the other 5 ah yes the intelligence subgroup that looks over china issues in particular they have joined in this because the microsoft deal involves

taking over the tech talk business in those 3 countries as well as in the u.s. so this is clearly motivated by security related concerns rightly or wrongly boom bust caused and so on and dean john quelch of the miami harvard business school thank you both for your time. they've thank you. and the united states recorded less than 50000 cases of coping 1000 for the 2nd straight day on monday an important milestone not seen in weeks but as the country continues to struggle with controlling the spread of the virus president donald trump says a permanent lockdown really isn't in the cards. it's important for all americans to recognize that a permanent lock down is not a viable path toward. producing the result that you want to or certainly not a viable path forward and would ultimately inflict more harm that it would prevent our current phase we must focus on protecting those at highest risk well allowing

younger and healthier americans to resume work and school with careful precautions the comment from present president trump comes as some areas throughout the world are reinstating lockdowns and for more on this in the spread of the virus across the world let's bring in our correspondents diet after side. well we were it was so brand right now more than 18580000 people on the world have been diagnosed with cobra 19 more than 280000 in just one day now more than 10900000 have recovered and about 700008 little over have died and as of tuesday 4 pm more than 4800000 confirmed cases in the u.s. and almost 160000 deaths but i like to go over a specific states in the u.s. that are seeing the latest changes in case counts and that so 1st so 1st these states have had recent growth in newly reported cases or the last 14 days now for

example in oklahoma just over the past week there's been a average of $865.00 cases per day now that's an increase of about 29 percent from 2 weeks earlier and then there is a maryland and missouri that are seeing an increase of 41 percent in new cases and nebraska with a 47 percent increase rhode island has an increase of 75 percent in new cases howie and the other hand is seeing a 395 percent increase from 2 weeks ago so clearly these states that are listed are right here they're headed into the wrong direction now the next slide these are states that are seeing new cases mostly the same now for example in new york they're seeing a 11 percent decrease in new cases so in that state cases are continuously decreasing so that's when there's no sudden change so i've categorized them as

mostly the same the same applies to these states right here so there are cases have remained the same within the last 2 weeks now let's take a look where new cases are decreasing again a few that stick out in florida a decrease of 24 percent from 2 weeks ago arizona 27 percent increase. tex says 17 percent decrease and all of the and that's great news given that these 3 states that are there that i just mentioned that surging number just 2 weeks ago now lastly let's take a look where new deaths are increasing so these states have had the highest growth in nearly reported deaths or over the last 14 days since new deaths tend to rise a few weeks after a rise in infection for example florida broke its record for the most deaths reported in a single day several times in the past week and is now seeing an increase of 22 percent increase in deaths and another example is mississippi with an increase of

13 percent in deaths now over all new deaths in the us are up 36 percent from 2 weeks ago but still remain well below their peak levels and brand despite ongoing surges the new cases and deaths that i just went over right here which as far outpace many other countries like you mentioned president trump insisted they're shutting down the u.s. and tam to lower new cases and deaths would cause more harm than good but other countries like the philippines and are strange how one the other hand decided to go back to a partial lockdown in order to stop the spread of the virus brant archie correspondents are turning to thank you for the insightful report. and time now for a quick break we're here because when we return the oil industry continues to struggle due to a lack of demand called by the parent demick going to break down the situation and what it's going to take for the sector to rebound as we go to break here the numbers at the core.

were. well the pandemic no certainly no borders and is blind to nationalities. has emerged with the we don't look like world peace to. people. judge a. commentary crisis like this. we can do better we should. everyone is contributing to each of our own way but we also know

that this crisis will not go on forever the challenge is creating the response has been much so many good people are helping us. it makes us feel very proud that we are in it together. a short time ago an american airplane. hiroshima. standing up kind any thing and some political grandstanding. how until you do your. chin it's. like most americans growing up after the war the bombs were a great thing they ended the war they say hundreds of thousands of lives on both sides and that's what my grandfather always said was his reason for the decision.

truman was hoping for a dual strategy one was to drop the bombs and hope that japan would surrender and number 2 the americans were trying to send a message to the soviet union and there was american poor planning in october 145 chosen 20 targets and russia. and welcome back oil prices are easing up near $40.00 per barrel are concerns that a fresh wave of covert $1000.00 infections will hamper a global demand recovery news from asia in europe is adding to good serves that the infection crisis may be spreading in a global 2nd wave not just in the u.s. and brazil to break down the impact of the economy and the oil industry let's go

ahead and bring a bus co-host christiane recruit president and c.e.o. of sprout holdings thank you both for being here always appreciate seeing both your faces let's start with you kristie i mean where do we see crude oil prices go in the near term well right now we're starting to see demand slowdown again a city such as melbourne once again tightening down lock downs and restrictions in arkansas and all these new coven infections you also have cruise lines and flights volumes are about 50 percent from where it was at the start of the year and elsewhere in the u.s. they cation travel season also known as the summer driving season that is looking weak as a memo to americans are staying home so meanwhile you have on the supply side you have opec producers raising output this month adding about $1500000.00 barrels per day of supply so the u.s. producers meanwhile are also planning to restart production as well as there's a slight uptick in manufacturing which they're seeing as very optimistic data so with lowered expectations and more supply coming online we would definitely expect

to see some more downward pressure on the near term curve but i don't think we'll see what we saw earlier this year as the entire curve negative and no rick i actually want to talk to you about something you've said actually on the airwaves here several times you always tend to tell us the cure for low oil prices is low oil prices and traditionally in an economic downturn that makes sense because demand will go up as oil becomes more accessible but when we're in this global pandemic where people are forced to stop traveling some businesses completely so want to haul people are going to the pump because they're working from home it is those that seem to be the case what's going to take for this oil sector to actually rebound at this point. time. statements true markets too were low prices cure low prices were near term with the economic slowdown that were declining and automobile traffic decline in airlines the sort of precipitous decline in global economic activity demand it's all in faster than supplies can make no mistake this

$40.00 oil price over 2 years or 3 years will take its toll on productive capacity opec won't need to slow down production production because they won't have made this cap or investments necessary to maintain production so in the near term weakness but that weakness setting up strength 2 years out 3 years out 4 years out i really can't say when and now rick i want to move to u.s. shale because it looks like the shale industry is looking to add another round of bankruptcies and this is after $23.00 companies with over $30000000000.00 in collective debt filed for bankruptcy already in the 1st half of this year you said it's going to be a different us shell sector after this whole thing is over but at this point we're little concern is it actually going to survive this downturn as creditors are no longer lending to these troubled companies what are you seeing here. well we're going to see we're trouble in the shell business certainly it is a cost to capital business and the cost of capital has gone up equity prices will

fall which is to say had we kept who was more expensive and debt is less available so in capital intensive business more business reduces margins you will see certainly see the shale business continue in some way shape or form you will continue to see technological innovation. and you will also see strong who are weak companies what we will see i think more of the drilling new locations will be the retailer the recomposition of old locations but i don't see the shale industry meeting anything on its current productive asti given. all right. now christy i want to keep on this loans bank load standards have actually tie into considerably in the last quarter at a time when most companies small businesses and consumers need it the most what's going on there well it's the start of this very vicious cycle because you're right

this is the time that people need the loans the most especially the consumers in the u.s. as the u.s. as a consumer is driven economy but banks right now are tightening their loan standards and you see j.p. morgan actually leading this entire this entire sector. they're accepting their not no longer accept a new home equity lines of credit they've halted all non p.-p. based loan so now you have almost all of the u.s. commercial banks halting all of these lending halting loans and in tightening lending standards all across the board from commercial industrial to home credit cards and auto to commercial real estate loans and so the loan standards for all these products they were hiked so much that they are almost matching the standards during the last financial crisis when it was virtually impossible to get any sort of loan for the average consumer so in short every single thing that is not explicitly backed by the government such as the p.p.p. loans banks just simply won't go near anymore as they have 0 visibility on the future outlook and the possibility of repayment so right now the credit standard

for approving credit card applications they've tightened to 72 percent on net versus 39 percent of what it was previously earlier this year and the standard for auto loans they have that has tightened to 55 percent on net to 16 which shows that there is going to be a huge liquidity crunch for consumers in the near future which will only feed into a more sluggish slow recovery rick rule c.e.o. of spro holdings christy our co-host thank you both for joining us and bringing that all down we'll have you both back real soon thank you. finally let's shift our focus to a medical breakthrough that sounds like it's right out of a movie researchers in singapore have created artificial skin able to feel a concept that was actually inspired by a scene in star wars r t correspondent as has more of the story. remember this scene from the star wars movie trilogy we're luke skywalker loses his right hand and it's replaced by

a robotic one seemingly able to experience touchtone stations again well according to a team of researchers in singapore that was the motivation behind their latest creation aces or a secret select tronic skin it's made up of $100.00 small sensors and is about a 16th of a square inch in size the researchers at the national university of singapore say that it can process information faster than the human nervous system is able to recognize 20 to 30 different textures and can read braille letters with more than 90 percent accuracy and by adding algorithms it allowed a device to learn quickly the team leader benjamin t. said in a statement humans need to slide to feel texture but in this case the skin with just a single touch is able to detect textures of different roughness when you lose your sense of touch you essentially become numb and prosthetic users face that problem he has that by recreating an artificial version of the skin for their prosthetic devices they can hold a hand feel the warmth and even feel that it's soft even how hard they are holding

the hand no technology is still the experimental stage however the researchers say that there has been tremendous interest especially from the medical community reporting for boom bust trinity chavez are taking a. fascinating advance but there are thank you so much tony job as for covering that story and that's it for this time you can catch boom bust on demand on the brand new portable t.v. app to be able on smartphones and tablets through google play and the apple app store by searching portable t.v. portable t.v. could also be voted on new model sam so smart t.v.'s as well as roku devices or you can simply check it out a portable t.v. we'll see you next hour. thanks guys are survival guide ecstacy just like all the stores simply travel all

the service. he shoots knows there are you going to get him back. after. all you know this is a repatriation scheme forget the rest of 70 years. philip a 70 year old kaiser report. a short time ago an american. hero she. started not claiming any. to go. on diligently you. can it's. like most americans growing up after the war the bombs were a great thing they ended the war they say hundreds of thousands of lives on both sides and that's what my grandfather always said was his reason for the decision. truman was hoping for a dual strategy one was to drop the bombs and hope that japan would surrender their

number to the americans were trying to send a message to the soviet union there was american poor planning in october $145.00 and chosen 20 targets and russia. thinking of getting a new gun the ones we've gotten here shows no problem why is he didn't know what to do he was trapped in this tiny little wired up being near the crate with him he will stir reaching out into the wilderness for him anywhere near. breeding dogs or caged in the into lane conditions on puppy farm i mean 67 years you know they've been locked up in a cage outside you see no protection from the weather the heat you know the courtier the rain the snow the funder nothing they have no protection. to get what

you. can get through kids. across the us cruel puppy mills are supported by dog shows on pet stores most of the puppies that are coming from this large scale factory farming kind of operations are being sold and at stores even joined a group businesses are involved like agoa mom center there has been a shocking amount of organized opposition to adverts to increase the standards of care for dogs bred in commercial breeding for so many days most of that opposition is coming from huge agricultural groups and industries that have nothing to do with jobs don't buy dog. chose seemed wrong. but all roles just don't hold. any new world yet to shape out these days to come out ahead and engagement equals betrayal. when so many find themselves worlds apart when she's to look

for common ground. breaking news on our team international an enormous explosion in the lebanese capital beirut leaving at least $78.00 people dead and thousands more injured. the blast has caused massive damage across the city destroying buildings in the 4th district and leaving many residents without electricity exact cause of the disaster is not clear although it is believed to be linked to be improper storage of explosive materials in a warehouse on social media a lot of. fortunately there are. countries including turkey and israel russia to offer emergency medical aid to lebanon hospitals are already under immense.