thready. this is boom bust the one business show you can't afford to miss i'm sorry montevideo but in washington coming up the labor department reported a steady hold in the week before on jobless claims but still higher than expected well discuss what this means for the overall economy and markets. to u.s. companies may be closer to finishing the deal for tech talk but other trumpet ministration may just have to wait for china to give the ok we'll get the latest

from the dean of the miami harvard business school and we have a lot to get cute but. we begin with the unemployment numbers as weekly jobless claims took an unexpected turn for the worse now for the week ending september 19th labor department reported 870000 americans filed for unemployment that's up from the week prior with 166000 the labor department remains stuck at a pretty high level here still above their peak 65065000 during the great recession that was between 20072009 the data comes as u.s. lawmakers still haven't come to an agreement on a new round of stimulus something the federal reserve argues is needed for economic recovery earlier this week federal reserve chairman jerome powell and u.s. treasury secretary stephen newton well they expressed concerns over more need for aid. password will depend on keeping the virus under control and on policy all see

actions taken at all levels of government we continue to work with congress on a bipartisan basis to pass a face for relief program i believe a targeted package is still needed and the administration is ready to reach a bipartisan agreement. joining me now to discuss bill must co-host christine. baranski c.e.o. of open eyes alfie octavia let's start with you the number of 1st time fliers for unemployment benefits they continue to creep up are coming in higher than expected is this concerning that the market has plateaued as demand is not improving or are we looking at persistently high levels of unemployment here now that so many small businesses have permanently shut down. well i think there's a couple factors at work here one is obviously what you mentioned a lot of the businesses closing the economy being in real trouble in many sectors a lot of sectors have actually done ok in recent months so if you look at things like restaurants and retailing those seem to be large recover that doesn't mean

there are other sectors like airlines and travel and movie theaters and things that sort but are still doing really really badly so that speaks directly from economic shutdown and ongoing effects of that i think is another factor at work as well though and that is the fact that for unemployment benefits a large x. and during this downturn during that for obvious reasons as well and it's only when that happens it makes it very difficult to compare the unemployment numbers. because we don't read different things so you have to ask yourself if you have the same it was because you've unemployment before and the same kind of benefits what kind of claims for unemployment would we have seen in the car course odds that question but it is clear much much higher so make the comparison very very difficult but so long as we have those union eligibility requirements and larger payouts and the covert partial shutdowns of this we're going to carol see higher and. has come through so that it's not going to change anytime soon i think as long

as this situation goes on we'll concurrency well especially of these sectors are already struggling and looks like a lot of these employees aren't coming back and they're they're having more and more layoffs kristie let's talk about the economist stephen roach who is issuing this terrifying warning 3 iterating his thesis of the u.s. dollar plunging 35 percent and puts a probability of a u.s. double dip recession above 50 percent what is he seeing. so yes we did touch on this previously he issued this warning that the u.s.d. will plunge a few months back and now he's actually moving up his timeline and expects this collapse to happen by the end of 2021 rather than in 2 years as previously projected so in explaining his outlook roach pointed to the awful 2nd quarter data like you know the one that got basically rushed off because it was bad but not as bad as expected in the market just kind of shrugged it up and kept on rallying up led by tech so the current account deficit and the us which is the broadest measure

of our international trade imbalance with the rest of world that suffered a record deterioration and then the net national savings rate which is the sum of the savings of individuals businesses governments that also reported the decline in the 2nd quarter going back into negative territory for the 1st time since the global financial crisis so now you basically have no savings but you also want to grow so we run this current account deficits to borrow surplus savings and that always pushes the currencies lower the dollar even as a reserve currency is not immune to that adjustment so now on top of that you also have the risk of a double dip recession increasing as we enter the flu season and there is no more support after the cares act expired on the horizon and roche knows that there have been double dips in 8 out of the last 11 business cycle recoveries so it actually happens more often than not so the chances of a double dip expression if we don't receive our stimulus quickly is quite high with that one. stimulus and a possible resurgence of coronavirus cases like you said coming this this flu

season and you mention the ottavio congress has yet to agree on a 2nd stimulus package and even the skinny coronavirus relief bill failed to get passed 13000000 americans are unemployed thousands of businesses have actually permanently closed billionaire investor mark cuban he's been very vocal about this additional stimulus needed and is even proposing that every household in america they should receive a $1000.00 every 2 weeks for the next 2 months does his plan sound feasible or do you think we'll get any additional stimulus by the end of this year. this plan sounds in time and feels a keynesian framework i don't know where the lists are actually trying to that if that really works for years which were supposed to have the best performing economy in the world stage it doesn't seem to work so well and you have to asses all why a $1000.00 every 2 weeks for 2 months i mean those nice numbers are my lucky and my favorite numbers a 1000 now if that works why stop at

a 1000 why not go to 5000 when i go 220000 when i give everyone a 1000000 dollars every week i think we know exactly where they go this is a suggestion that from a small scale so these things tend to not work. time and time again people subscribed i don't think there's much evidence of a do over the last logically rationally or imperfectly so i don't think that is futile those who don't get it because most people do subscribe to that point of view so in terms of congress it looks like basically until the election things are kind of stark i think the democrats are very unlikely to pass any sort of relief package at this stage that might help donald trump and so they're sort of a standstill. gridlock but i don't necessarily think that's a bad thing for the economy overall i think because when you saw jobs adopting the faster it can do last the best and the government stimulus an interference with might actually slow that process down and it just might but still the millions of people that are without jobs and and yes getting some of that extended unemployment

however there are so many new ones americans just are planning or actually applying for these jobless claims as we saw the numbers still close to a 1000000 now kristie even as a market regains its footing from some several days of hard selling gold to the traditional safety asset now it's not doing well either is the gold bull actually dead. no i don't think the bull run in dead but it did fall quite hard to disappear level at the 1902 now 2 months low so the support line is broken which is concerning but i think it is far from being completely dead because for gold to be actually dead you actually have to believe that the fed is going to tighten monetary policy and the dollar is going to remain strong something that we just talked about is not the case and the big selloff that we just witnessed in precious metals and stocks was in part because the fed didn't promise more stimulus during the september sea meeting so they reiterated their stance and commitment to extraordinary monetary policy but they've been saying that there hasn't been

anything extra they've already warm allies that buy the market and the market wanted something extra they didn't get that so the market back up and threw a temper tantrum so in the long run both gold and digital assets things such as they are going to catch a major tailwind because the fed already committed to maintaining q yet current levels that support for gold the fed is printing money at record pace and now the money supply has increased at record levels for 5 straight months that's very bullish for gold so to believe the gold bull run is over you have to believe that the fed is completely done with stimulus something that as you just said drawn pollen capitol hill is already pushing for more pushing for more but will they get to more using by the end of this year. i don't think by the end of this year but the fed also has other has other tricks as pocket you know they've been saying they have other tools up their sleeve that they're trying to keep in the back pocket to see around that time a tabio what do you think will the federal reserve make another move. i think. as

much of this not as they possibly can so i wouldn't expect them to expand even further unless we see a quite severe correction the markets if the market comes down 1520 percent then i think drone power will jump back into action and start printing more money to support that market but i think up some kind of correction it's probably going to lie low for a bit and just as christie said just. saying we're going to stay the course i'm going to stay close to 0 percent interest rates for as far as i can see you can actually push interest rates a bit lower as we've seen in europe in which push it into negative territory if you think that's going to help so we there is certainly president of the markets that we can see that happen in the u.s. as well and that will be no surprise if we see that bill moscow has kristie i end up having a randy c.e.o. of open eyes i'll see thank you both for breaking this down for us. and. the last clinical trial of astra zeneca is covert $1000.00 vaccine are means on hold while the drug maker partnered with oxford university to conduct its base 3 trials which

was paused after a u.k. recipient fell ill nearly 3 weeks ago the drug maker is still waiting for federal approval to resume u.s. clinical trials astra zeneca c.e.o. pascoe soria said we are the sponsor of the u.s. study we then provided all this information to the f.d.a. and we are waiting to hear their decision meanwhile us leaving infectious disease expert dr anthony fauci told congress he and his team are cautiously optimistic that there will be a vaccine widely available by spring of 2021 we're not going to have all of the doses available for example by the end of december they will be rolling in as the months go by and by the time you get to maybe the 3rd or 4th month of the 2021 then you'll have doses for every one of. us firm is now facing millions of dollars in fines after it was caught bribing officials in brazil venezuela and ecuador over the last decade all this as the u.s. ramps up sanctions targeting venezuela and some of its closest allies our rachel 11

joins me now to discuss rachel what do we know about this company and the deals that it's actually being accused of well there are a lot of serious claims of corruption here and it's all surrounding this asphalt making company out of florida called sargent marine incorporated now the reason that we're talking about this case right now is because the department of justice has actually released new details after the company agreed to a plea deal so we now know that they stand accused of paying millions of dollars in bribes to government officials in brazil venezuela and ecuador to win contracts from state controlled oil companies in those countries so as a result now sergeant ryan cooperated has agreed to pay $16600000.00 after it's estimated that they made around $38000000.00 from those deals big. 2010 and 2018 so we're talking about nearly a decade of corruption here from just one company rachel what do we actually know about these these 3 countries that were targeted by these deals well if you look at

the list we have 3 countries that at the time that these deals were played out they all had governments that the u.s. government was opposed to now since then ecuador and brazil have both sworn in new leaders that the u.s. highly approves of but venezuela has not has what we've seen as we've seen the u.s. government continue to ramp up this campaign against venezuela calling for the overthrow of president nicolas maduro ramping up sanctions and they're even still doing that this week president trump announced new measures targeting not only venezuela but also its close allies cuba and nicaragua simply for the fact that he said their governments did not align and were not doing enough to partner with the united states. well this week the united states also targeted iran with new sanctions what's the latest there what do we know i was right we had even more sanctions and you know when you think about iran and venezuela you see these 2 countries that have been targeted very heavily by the united states government in recent years especially as we're now dealing with

a global pandemic so this year what we've seen happen is that are wrong has come along they've sent tankers with supplies to venezuela so that they were able to help them refine their crude oil and then they've helped even more by taking the oil and then exporting it and you may think that this is a great plan for these 2 countries that have been hit incredibly hard by the united states was sanctioned but of course the u.s. government did not like that either as of a came along and added even more measures to iran and venezuela this week especially saying that because those 2 countries have found ways to undermine the old measures and get some new sanctions more sanctions they're looking for alternative ways because they've been hurt so badly not just from the sanctions but obviously coke at 19 as it's become a global economic issue they're at least trying to come together and at least what they think will help their countries artie's rachel blevins correspondent thank you so much her for that report thank you. time now for a quick break but stay here because when we return 2 u.s.

companies may be closer to finishing the deal for tick-tock another troubling ministration may just have to wait for china to give the ok as we go to break here the numbers up because. i. told. her it was i think you know the story. let me. repeat. the sort of the. bill of the treasurer.

lead. it's supposed to be american politics during this election cycle the economy is in a big. margin the only thing for example is the insecurity economists debate and eventually the recovery. is the reality. of.

a coalition of apple critics are forming an alliance to pressure apple and other operators to change the marketplace rules the coalition for fairness laid out 10 outs or principles which include fighting against paying unfair reasonable or discriminatory fees or revenue shares typically apple charges a commission of 15 to 30 percent for ops using in its payment system but just to give you an idea in a statement the group said the gate keeper platforms that operate these stores must not abuse the the control they enjoy and must adhere to oversight to ensure their behaviors promote a competitive market and provide consumers with equitable choice the group includes some pretty big names including spotify match group fortnight creator of the games

. tick tocks parent company by chance has taken another step forward to creating a new company by the name of tick tock global this is the company that will be partly owned by by chance and partly owned by u.s. companies or will and wal-mart now by dance has officially submitted its application to china's ministry of commerce for a technology export license that license will ultimately determine whether or not this deal goes forward from the chinese side joining us now to discuss our best co-host and investigative journalist pens juan and john dean of the miami school of business ben let's start with you why is this export license such a big deal. was a big deal because essentially it was only a couple of weeks ago that china revised its rules for what kind of technology required licensing in order to be sold by the chinese government and beijing would have to sign off on these cells essentially the laws were kind of really. i was

a written but they were really tailored in this case specifically towards tick-tock now it would involve other technology as well we're talking about any kind of technology that has algorithms built into it voice recognition any kind of facial recognition essentially everything that would power the algorithms for to talk are included in this so what the chinese have done is they set themselves up in a position where they say if you're going to sell to talk we have to give final approval on it you can't do it without us that takes about 30 days for this process to run its course even though that application has been received but we'll see if the chinese sign off on it i don't necessarily see it doing it well and didn't quote we know they're on the chinese side this license will determine again whether the deal can go forward do you believe the chinese will sign off we've heard a few days ago that the chinese side said that it was reasonable later they said that they weren't going to approve the deal what's going on. well 1st of all

it's a bit of a difficult question as to what the deal actually is because on the one hand we've heard that oracle and wal-mart will take 20 percent of the new company take talk global and. buy to aunt's will retain 80 percent of the company but this is contradicted by a statement that oracle issued to the effect that americans would control the majority of the new company and then in addition to that there is some ambiguity in fact considerable ambiguity around whether or not the operational control of the. top global assets will be with the new company or will with or will remain with bite daunce and whether the new company will have more than simply data management responsibilities and privileges so there's

a lot yet to on ravel in terms of the different statements of where hearing about what the content of the deal is so as it stands at the moment little bit difficult to say whether or not the chinese will or will not accept the deal because we're still in the negotiating period remember that president trump issued this order on august 14th regarding take talk and the order has a 90 day fuse on it where about halfway through the 90 days and so i think we're still in the jockeying for position stage of the overall negotiation so this could technically go until the last minute deadline of november essentially by a lecture sins which i would think would want to to try to push before then especially this whole ownership thing leeway understand where in the united states and where he has made it vocal he wants to dance to have their owners. so again

that ownership much like you explained is very confusing and it all depends on what that contract says that the chinese government and they're calling this deal to sell to oracle and wal-mart bulling and extortion is there an upside for beijing and proving this deal at all. i'm not sure that there really is you know chinese state media seems to be indicating that there's no upside for beijing to do this and that i think about what was just said for a minute though he was basically pointing out a real truth here either oracle wal-mart and by dance are lying about the agreement that they have they don't actually have an agreement or they really don't have an agreement and they're all just trying to scramble and figure one out before the clock runs out either way it's very unclear what the deal is and here's the big question for beijing why would china agree under any circumstances to let this deal go forward if the deal goes forward in walmart and oracle take a big chunk of tick talk why would that matter to the chinese government why would they care if to talk exists in the united states however there is an upside if

donald trump is reelected to this prolonged back and forth between china and the u.s. to allow u.s. consumers who want chinese products like to talk to be angered by the fact that they now lose out on something if if china just signs over to talk and allows it to be sold into this new this new to global ultimately trump wins because he says look i was able to get this for an american company and the chinese have basically given up an asset that whether they're actually collecting data or not there's no upside for them to let it go but there might be an upside to say arguing agree that your president took away something that you actually liked all those you know 14 to 26 year olds who are on sector especially because it's become so popular here in the united states and during at coronavirus in quotes by putting tech talk into the hands of the chinese government does that leave a downside for the us and the event. that take talk is banned it seems like the

time been ministration is really just trying to get the deal in order much like ben said to claim the w. take the one. well this issue has become a cause celeb wrote in the chinese media it's become a national patrie audit issue defense of tech talk and so very difficult i think for the chinese government to agree to a deal that in some way gives up chinese technology but what could possibly happen where there could be a solution is in the licensing arena in other words if there's a mechanism whereby. talk us can it's 100000000 users data licensing all of the tech talk technology to wal-mart an oracle to. execute that technology in the u.s.

market and for that data that is generated by the 100000000 followers of take talk to be protected that is where i think the potential solution lies but i think this is not frankly a particularly big issue in the overall china u.s. relationship unlikely to be of great importance if it solved or not solved before the election it's not and it's funny that they in the united states have given it this much to important both china and the u.s. and this tit for tat now it's about tick tock then say china did have access to the data say that they actually do have evidence all to the u.s. what makes a difference if they already have that data. well i don't really know what the u.s. is thinking that china is doing with this data that makes it a national security issue that by the way facebook and instagram are doing with their. data that does not make it

a national security issue i understand the china as it as a nation state is different than a tech company but i'm not sure it's more dangerous than a tech company to be able to hold and retain that data but there's something else that's important here they didn't quote is right when he says that ultimately this isn't a big deal but it's a big deal in terms of american usage in that when wall way was going on most americans didn't use what we products this is a product americans use and so it affects more people in terms of the overall p.r. of a very good point made boom bust co-host ben so on and dean john quality of miami harvard business school thank you both so much for your time today thank you that's all for now to invest on demand on the brand new portable t.v. apps available on your apple and android devices or simply check it out at one of the t.v. the next time. we're

segregated. by social class. people also world poverty by 1st. if you're born into a poor family. born into your own minority family if you're born into a family that only has a single parent that really constrains your life chances people die on average 15 years old if you're born into generational poverty. it's a. fight every day so you meet your needs and the needs of your family. time of the time called parisian to repeat the same mantra sustainability very important. transitions to sustainable prize board sustainability. a more equitable and sustainable world. they claim their production is completely harmless.

because. companies want us to feel good about buying their products while the damage is being done far away and this is something else this must be done even and i. mean listen we didn't i mean when i'm stunned. when. the international atomic industries pawson the testing the kind you know it's only . 19 the maturity of the nuclear industry projects being implemented in accordance with the new decision and moreover the i.a.e.a. has found its place in fighting the pandemic by offering the technologies and approaches. both for prevention and treatment of dizziness.

was the i.a.e.a. has shown itself not only to be prepared but also isn't into mondal can a zation in the current difficult conditions it may be one of those international organizations that is increasing its role and influence despite the difficulties it's boosting its influence both in the field of peaceful nuclear technology and nuclear nonproliferation. with us was we were in full cooperation with the agency we're in contact with the i.a.e.a. director general you rafael marianna grossi by video conferences and from cools the experience of other countries never coming to school to us is very important to us .

a machete attack near the former paris headquarters of the satirical magazine charlie hebdo it leaves 2 people injured that comes after it recently published controversial cartoons between the prophet muhammad. also in france a new covert infection recalled with 16000 cases recorded in a single day but the latest restrictions on life designed to stop the virus are rightly spreading and. meanwhile ethical concerns are raised over reports the volunteers in the u.k. could soon be deliberately infected with coded in a world 1st trial. even to.