this is a boom bust the one business show you can't afford to miss some friendship or in washington coming up and the state has the right to dictate your energy so you were right and this will not work lawmakers in the united states are ramping up their threats against the nordstrom to pipeline straight ahead we'll look into the tensions and what germany is looking to do about the claims from the u.s. and in the wake of the coven 1000 pandemic states are seeking billions from opioid manufacturers for their role in another public health crisis we'll dive into the details with a packed show today so let's get to it. and threats continue over the construction of the controversial nord stream to pipeline for years now the u.s. has been trying to block the 760 mile pipeline the north stream to oh and by

russian energy giant gazprom will carry natural gas from russia to germany now in recent weeks 3 u.s. senators have threatened crushing legal and economic sanctions a threat the german foreign minister rejected last week. this trans-atlantic relationship with the united states goes deeper than just development we must make it very clear the tensions between partners are definitely the wrong way and ultimately it remains our sovereign decision where we get our energy from no state has the right to dictate europe's energy policy would. also will not work right now german lawmakers are considering bringing the united nations in over these sanctions saying the u.s. pressure runs contrary to international law artie's peter oliver has the details from berlin. the chairman of the german bundestag committee for economic affairs an energy has told me that it will fight us attempts to stop the north stream to gas pipeline at every turn. we should let the americans understand that if they

continue this kind of behavior it will cause economic damage that is why 'd i advise imposing punitive tariffs on american liquefied guess and under certain conditions even embargo on american guess the americans the same way they want to hit us 24 of the 27 e.u. member states voiced their concerns to the u.s. state department after the united states embassy in berlin issued a statement saying they would act to counter what it sees as russian dominance of european gas markets the united states must act to address the threat to our national security and foreign policy interests the reality could well be a deceived threat to economic interests a group of republican senators from oil and gas states led by texas is ted cruz have pushed the sanctions they want to sell europe liquefied natural gas which is far more expensive than gas pipe direct from russia into germany and the states say

the sanctions are designed to target companies engaged in legitimate business the e.u. considers the extraterritorial use of sanctions as a breach. international law the new pipeline which will add to the already existing no it stream one running under the baltic sea is set to start operations in early 2021 peter all of a foot boom bust. for more on this let's go ahead and bring in professor bill header and senior fellow at the kleinman center for energy policy at the university of pennsylvania thank you so much for being here professor how dement i wanted to start with a little background here where did this dispute over the north stream to pipeline start and as an onlooker what role does the u.s. have in delivering gas from russia to germany. thanks friends pleasure to be your and. this is the 1st snow to streamline

begin and snaky in the late 1990 s. and that was just kind of the commercial deal and move forward you may recall the go back to ronald reagan years it was series concerned that time and a series supply coming into western germany or western europe. russia but that. as she disappeared over time and nerd stream one went through pretty smoothly of course as an extreme to start a guess around 2011. it was. initiated without much controversy but of course when seen. the invasion of ukraine and the cut off of ukrainian supplies through the line then ukraine's response in taking gas out of the transit line created a whole new level of controversy about what goes on there and that has led to this

point basically the. u.s. senators want to take as stern position and. this connection the connection does. in eastern europe in ways that don't seem to. influenced western europe the way they did in the past. basically in us continues to push they're trying to use the sanctions weapon yet again and. western allies aren't that. happy about this obviously as your introduction showed that now why is russia the preferred supplier for germany is it all about the price of natural gas coming from russia. well you know price is an interesting factor here because

europe's always said that they'd like to diversify their supplies but then never prepared to pay any bonus for that diversity and so that does lead to gnash and then more region gas being fired on suppliers and any l.n.g. will have a difficult time competing in try 6 but i think europe would like to always have the threat part if they get a good price around them gas is that there is the alternative of low cost elegy coming in from the us but the reality is the marginal cost of supplying l.n.g. to western europe can never compete if you will on the variable cost and we mean this stuff compared to and russia where you know it's just a neighbor and of course it's in germany in this case it's out of all and nastiness

it's dealing with transit countries whether they're. ukraine and belarus and cetera or poland they have a direct relationship with with russia and of course they have a very special relationship with chancellor former chancellor schroeder being. the head of the one string now what is the alternative if the. project we're not to be finished obviously we're pretty close to being finished but would germany face an energy crisis and who would fill that void for energy in germany would it be the us alan g. they would have to basically build the infrastructure to do that or what are we seeing there. i don't think there's much of a concern about the supply being now to quit germany is thinking now about carrots as a way to do that bridging from their abandonment. of nuclear and their intent to bending coal but the coal why that rises didn't work very

well and so germany actually has higher emissions now and then they started their transition so they gas has roughly half the carbon emissions that coal fired electricity so it's a good way it's basically out of the us. overall emissions from electricity has been the shift from coal to gas and that that transition does help but i think most of the issues here are about on national sovereignty and on kind of evidence of. the relation ship between united states and western european allies. as. much let's cooperate more chaotic situation and obviously that's a huge discussion that we have to save for

a later date senior fellow at the climate center for energy policy at the university of pennsylvania bill how do we thank you so much for letting your expertise. equities the s. and p. hit a new intraday record high tuesday making it the 3rd fastest rally to recoup all of that it lost but the rally has been very even with the bulk of the heavy lifting being done by the 5 big mega cap tech names though sectors that are leading this rally include tech as we just mentioned up 12 percent consumer discretionary spending communications services and health care legging are industrials banks which are down 28 percent and energy which is still down 31 percent so sunpak this with bring in a co-host christiane to discuss where things stand chrystia want to start obviously 1st of all it's a big retail earnings week and wal-mart just posted one of its best quarters ever

but the stock is trading down what's going on there well you kind of got to remember that the market is always forward looking and earnings week is kind of like lining up the craps table to see if you passed or you didn't passed afterwards you just clear and reset because all of that is done and it's historical and you have to look ahead to the next quarter which is exactly what happened here wal-mart had a big run up into earnings they were big earnings and on expectations they were up like almost 6 percent before falling back down so they posted their biggest earnings surprise in 31 years tuesday as the online sales nearly doubled during the pandemic as well as same store sales that also climbed to 9.3 percent and surged as wal-mart supplied customers with food and other staple consumer goods during the entire pandemic season so looking forward however wal-mart plans to launch a membership service that will help speed up deliveries on local pick ups this is going to be called wal-mart plus which is expected to compete with amazon prime now

however managing their supply chain continues to be a big issue for wal-mart as they reiterated on their conference call as it still struggles he keeps a. an item's in demand in stock so wal-mart still did not provide any sort of financial outlook for the rest of the year as the outlook continues to be uncertain many factors still remain in limbo such as additional government stimulus consumer confidence and the length of the pandemic additional government stimulus is actually going to be a big boost to wal-mart as most of the paychecks are spent for these certain certain consumer durable goods so while wal-mart performed beautifully this last quarter it's more looking guidance is not reassuring and it's messaging was not a beat leading to the downtick today as traders are now positioning for the future with retail cold is actually trading down 16 percent after posting a smaller than expected loss shares of the company have more than been value this year is cold in trouble so as much as management tries to spin the message optimistically the numbers don't lie and the trend is that these stores such as

kohl's j.c. penney's pier one imports and more they're hurting right now and the bleeding isn't going to stop anytime soon the u.s. department store sector has been struggling to boost sales even before this entire pandemic even started and they just haven't been able to keep up with the online centric off brands kind of big box retailers so while online sales at coles that increased 58 percent which was very healthy in the quarter it introduced curbside pick up but the margins then got squeezed leading to higher than expected shipping costs for them so now looking ahead to the all important holiday season as well as the back to school season those are 2 of the most important periods for these retailers the rhetoric continues to remain very grim as management reported that right now back to school season has barely gotten off to a star and it still remains a very very slow because all the schools they don't know if they're going to remain open are not holiday spending will most likely be very soft as disposable income for consumers still remain very tight so as the current reality drags on the

industry strongest retailers they're getting stronger as they scoop up the dead. market share and loss customers with bigger discounts and more incentives better shipping discounts while the weaker retailers they're left and even worse off simply because they're unable to compete with all these incentives and these instant delivery that all these consumers now have come to expect the entire sector has changed so more than 41 retailers have now filed for bankruptcy in 2020 and that means about 6000 stores have actually closed between them so kohl's is struggling to turn the ship around at this point and so is this really all about e-commerce because what you said the department store is kohl's they have online platforms they've been able to sell during the pandemic but in reality they don't have the infrastructure built like an amazon or a wal-mart to be able to sustain that exactly and wal-mart really invested very heavily in their infrastructure about 2 years ago and that is well allow them to

turn their ship around during this pandemic so unlike unlike coles actually while they introduce curbside pick up and they try to struggle to turn consumers on to online shopping they're shipping delivery rates they're shipping costs there and sometimes they just weren't able to compete with a lot of the big box retailers co-host christiane thank you so much for your insight. time now for a quick break but here because when i return in the wake of the covert 19 states billions from opioid manufacturers for their role in another public health crisis we're going to dig into the details as we go to break here the numbers at the close . i. i. oh ok.

join me every thursday on the alex simon show and i'll be speaking to guest of the world the politics sports business i'm show business i'll see you then. an entire village in alaska. if another country trying to wipe out an american town . we do everything in our power to protect. water they escaping climate change is the same threat right now alaska does seem some of the fuss just coastal erosion in the world we lost about 30 feet. 35 feet of ground in just about 3 months while we were measuring. it is fast paced the river is 30 closers how long that was for as they were

a part of america 1st from across. the. river. and welcome back as the world as though it clips 22000000 cases of coping 1000

representatives from the world health organization are warning against the hopes of herd immunity stopping transmission of the virus. mike ryan the executive director for the w h o's health emergencies program spoke about the situation today in geneva but let's hope we can say with certainty is. a global population. 200 meters. and we need to see what we can actually do you know this transmission a month living whole alternative medicine. like that is not a solution and it's all a solution we should be looking to so with this in mind let's take another look at the trends and spread of the virus globally with r.t. correspondent side tablature sorry where are we today so brian the number of people diagnosed with cobra 19 around the world now exceeds 22000000 cases and more than 780000 people have died now meanwhile nearly 14800000 people have recovered

from the disease so 60 percent have recovered meanwhile in the u.s. the cases are nearing 6000000 with the deaths almost a 175000 now let's take a look in where the cases are actually growing in the u.s. and where there are falling so here are some of the most significant changes. the 7 day average of nearly reported cases actually falls to below $50000.00 for the 1st time in nearly a month the u.s. a reported about $35000.00 and new cases ringback on a monday bring in that average over the past 7 days to 49130 do so that's 10 percent down compared to a week ago and to go back to my 1st point so let's take a look on where the cases are actually growing and where they're falling in the u.s. so here are some of the most significant changes to the 3 hotspots states that have

been constantly breaking records with a new case numbers are now actually seeing their 7 day average go down compare. 2 last week so that's really good news there is ara zone that's seeing a 22 percent decrease in cases now texas has a 12 percent decrease from last week meanwhile florida has a 11 percent drop then there is more significant drops in cases there is louisiana that has a 46 percent decrease from last week meanwhile arkansas has 57 percent decrease from last week so that's all good news here in the us meanwhile states not doing well and seeing an increase in cases there is california here in orange that now is has a 50 percent increase in new cases then moving over to the east coast there is delaware delaware is seeing a 83 percent increase from last week then there was vermont too with

a 70 percent increase meanwhile maine but constantly made the news about having such a low cases now is seeing a 50 percent increase so those are the states that we're watching going to be reporting on and sorry we're seeing a lot of attention paid to europe and the americas but what's happening in the middle east and africa. some countries are obviously doing a better than others for example algeria has over 39000 cases now meanwhile libya they have over 8500 cases now egypt on the other hand has over 96000 cases not turkey with a population over 84000000 and has over 251000 cases now in iraq with a population of 40000000 so almost the same as algeria that has 39000 cases remember iraq has 184000 cases now saudi arabia on there are the hand that has

about a 3rd of egypt's spy relation member egypt had 96000 cases a 3rd. a 3rd of saudi arabia's population we lost saudi arabia has over 301000 cases lastly iran is doing the worst in the middle east they have almost 350000 cases now they're not doing badly just cases but also deaths there this have neared 20000 while medical experts also thing that number could be a lot higher brand correspondent thanks for keeping us up to date. an enterprise software giant oracle has entered the fray as a possible buyer of social media app tic-tacs us canada australia and new zealand operations according to people familiar with the situation the company is working with a group of u.s. investors that are already own a stake in the apps owner by dance including general atlantic and sequoia capital according to the sources microsoft has been the most likely to buy tick tock after

president trouble vowed to ban the app in the u.s. unless an american company can purchase it by mid november twitter had also held early stage talks to buy the operations but people familiar with the negotiations said there were concerns over whether they could get together enough capital to make the deal. and following a move by the u.s. commerce department on monday to impose new sanctions restricting any foreign semiconductor manufacturers from selling chips made using u.s. technology to walk away without a special license the chinese foreign ministry of foreign affairs continued its full throated rebuttal of government action against chinese tech companies leave early should what the us has done has completely the big leaf of the market economy and fair competition principles that the u.s. has advocated violating international trade rules undermining the global industrial chain supply chain and value chain it will inevitably damage u.s. national interests and its own image that we urge the u.s.

to immediately correct its mistakes stop you'll entering china and stop suppressing u.s. companies the chinese government will continue to take necessary measures to safeguard the legitimate rights and interests chinese company was. in the medical and pharmaceutical world cup at 19 is virtually the only discussion in america and there's been almost no discussion of another major issue opioids now america's opiate crisis is back in the headlines as states are asking for around $26400000000.00 for major pharmaceutical industry players to help pay for damage created by the opioid crisis the lawsuits against big pharma are staggering considering that nearly every state hundreds of municipalities and native american tribes claim that the opioid manufacturers have cost the american economy $2.00 trillion dollars joining us now to discuss this bill but it's an investigative journalist ben swan about i want to start with who is suing because as i said the numbers of states municipalities who are following suit here are staggering. yet

really is that we're talking about 300-3000 states which as you said is virtually every state in the country we're talking about thousands of. these from cities to counties and then we're talking about native american tribes they are collectively suing in this. what they're doing is suing up and down the supply chain for opioids essentially saying that these companies pharmaceutical companies failed to adequately flag certain orders of these opioids that then were moved off and diverted into areas they were not supposed to be and misused essentially abuse so the claim is pharmaceutical companies knew that their supply chain was broken along the way and that really groups were taking these opioids and mishandling them and selling them to the public in ways that they shouldn't be and yet they kept pumping them out and producing them that's the claim here so let's talk about the ask because dates are asking for $26400000000.00 from companies who are they actually

targeting in this situation yes really 3 big companies one is the mckesson corporation amerisource bergen corporation cardinal health and then of course the big one is johnson and johnson so those are the companies that are really being targeted again these are the major producers of opioids they say that they did not protect the supply chain and now ben as you know many of these huge cases call for precedent is there already precedent that states are using it as a jumping off point in about 30 seconds left yet there really is about $465000000.00 in a verdict against johnson and johnson is the one trial that's taken place so a verdict against johnson and johnson and oklahoma nearly half a $1000000000.00 already which means that opens the floodgates as you know all of a sudden you have the opportunity for these states municipalities and native american tribes to come in and say will they get half a $1000000000.00 in oklahoma and the rest of the country with him as well they think that $26260000000.00 is the minimum that these companies should be paying and

we know this is something that our friends at america's lawyer have been covering extensively boom bust co-host ben swan thanks for breaking it down. you got it. and that's it for this time you can catch boom bust on demand on the brand new portable t.v. app which is available on smartphones and tablets through google play in the apple app store by searching portable t.v. t.v. can also be downloaded on newer models samsung smart t.v.'s as well as roku devices simply check it out exportable dot t.v. we'll see you next hour. late. on the long haul.

to school. lunch. on. the boat just. to mom i'm glad samson asked for the last 70 and seeing and on the day today for the match promotion commission sue. branson she was. just going the. engine coming on the long. beach it was. no new car so said i'm not going to much to me mama says the back. and.

l. look forward to talking to you all that technology should work for people. a robot must obey the orders given by human beings except where such orders would conflict with the 1st law show your identification for should be very careful about official intelligence at the point obesity is to trace trusts ever other than sheer. conflict take on various jobs and with artificial intelligence will summon the demon. a robot must protect its own existence his own existence. the world is driven by dreamers shaped by phone personal those words.

the dairies thinks. we dare to ask. pain has changed many american lives but pharmaceutical companies have a miraculous solution. based drugs it's not the people who are chronic pain patients believe that their opioid prescription is working for them and the remedy be said to. price that they pay closer dependency and addiction to opiates to long term use that really isn't scientifically justified and i'll study actually

suggested that the long term effects might not just be absence of benefit but actually that they might be causing long term. people in bella ruse take to the streets for on the 11th day in support of their president telling him to go. discord over the. flow and. e.u. leaders say they do not recognize the results. will impose sanctions on top officials despite brussels warning against any external interference in the crisis. russia's foreign minister also urges against any outside meddling to the leader of his concern.