it's a very old principle that dates back to the deal to ancient romans pact a suit contracts treaties have to be pursued, have to be kept. and so it's much more than just about who gets what kind of oil and gas from which source. it's really has a much wider implication and i'm pretty sure that this is in the back of the mind of many decisions taken is, of course, also including german chancellor. i'm going to imagine she's very much aware of that particular aspect. and therefore, it should be taken out of these daily exchanges and be taken back to and much more all business oriented approach. karen, on that note we're going to have to leave it there, but it's a really good to talk to. again, i was cover niceville or as a national i'm a foreign affairs minister. thank you. you're most likely. just come home for moscow. we're back again at the top.

i this is boom, bust for the one business show you can't afford to miss. i'm french born washington coming up. russia voting the efficacy of it. sputnik vivax seen as one nation has begun to import trial fare for plus airlines have been battered as a result of covert 19 despite a recent bump in holiday air travel. while the dow is setting record highs straight ahead when to break down all of those numbers and later breck's it is back in the spotlight as the dangers of a no deal loom large for one of the world's top economy with a packed show today. so let's dive right in and we leave the program with another update in the race for a covert 1000 vaccine. now, following the last week of promising news regarding chemists from pfizer astra that

i can madeira russia said tuesday, it plans to produce $1000000000.00 doses of it sputnik vbac scene and provide it at least a less expensive cost and then its rivals. now, russian sovereign wealth fund r d i f said of the situation. the cost of $1.00 doses, food b. vaccine for international markets will be less than $10.00, thus snick v will be 2 or more, more times, cheaper than foreign vaccines based on m. r n. a technology with similar similar efficacy rates for russian citizen vaccination with clinic we will be free of charge. now for comparison sake, pfizer and biotechs vaccine is expected to cost around $20.00 per dose. the c.e.o. of modernity said this week its drug will cost between $25.00 and $37.00 per dose. and the astra zeneca vaccine being developed with oxford university is estimated at around $3.00 to $4.00 per dose, all 3 of which will require 2 doses. on tuesday, the 2nd interim analysis of trial data for russian spin exact b. was really showing the vaccine had a 91.4 percent efficacy in preventing

a coronavirus infection after 28 days and was more than 95 percent effective after $42.00 days. meanwhile, hungary's foreign minister of on monday said the country will be the 1st in europe to begin testing. sputnik be adult by last weekend when those ireland's next the one arrived in hungary this year and a right to gather with the necessary documentation for the where you already have to carry them out, which will help our societies decide whether thank scene is recommended for the one buried, we're not talking. and last week the european commission took issue with hungary sputnik v trials raising concerns that bypassing e.u. regulators could affect public confidence. so with all this in mind, let's go ahead and take another look at the trends and spread of the virus globally with our chief correspondent side were things to get. so let's take a look right now were more than 59000000 confirmed cases around the world have been

infected, occur in a virus on the u.s. continues the lead the world infections with the more than 12800000 cases followed by india with 9000000 and brazil with a 6000000. now take a look at the daily case count. there were almost 180000 cases just on monday. now that's in 50 percent increase compared to only 2 weeks ago and brand while we think it's now it's bad news now with 12000000 full cases in the u.s. . there's also a new projection just published by the washington versity in st. louis that the u.s. could nearly double its current numbers to reach $20000000.00 in less than 2 months . so whereas this month in the vendor, we saw $3000000.00 new cases. that number might triple in december and january, and this prediction also comes a scoop in 1000 hospitalizations. are exploding nation allied now. the u.s. is currently on pace to surpass 85000 hospitalizations. a record as 30 of the

50 states reported record number of patients this month. now, in the midwest, a dozen states between ohio and dakotas have been especially hard work case rates are more than tripled than any other region in the u.s. . in fact, for many june until now reported cases in the midwest where you see all the dark colors there rose more than 20 times. now if you take a look at the daily deaths on average, we're looking on monday. there were 1332 deaths in making the monthly average 1500, and that's a huge jump from the country's elative lee know of roughly 500 average daily deaths in july and with cases and deaths going up. so quickly, officials are now of course, imposing new restrictions and really begging the public to limit gatherings and

travel, especially heading into the holidays. now adding to all of this stress is that some of the new restrictions are also throwing people out of work once again, which would reverse the job gains. john gains since the spring and even pushed the unemployment rates back up again. and we already saw that last week when the number of actually americans seeking unemployment's. it rose last week for the 1st time in 5 weeks. and this is very dangerous for the nation right now. because right now about 20000000 americans are receiving some sort of unemployment benefits, but about how full of those they want to lose benefits. when the 2 federal programs expire as end of the year. and of course, given the political gridlock, no one is anticipating any kind of a new program before 2021, brant, you know, so we just broke down these vaccines for at least the general public. what are we looking at in terms of distribution?

so right now pfizer expects to produce about 1300000000 doses in 2021 were as they said, they're on track to manufacture and they were between 500000000 to 1000000000 doses globally in action astra zeneca. they plan to manufacture 3000000 vaccines, right? 2021 now russia wouldn't agree they're planning to produce about a production a $1000000000.00 is next year. but remember this most of these vaccines they're giving in actually 2 doses. so whatever that number is, cut that production it half. and what does that mean for 2021? is that anything as early as january 1st, some which was likely going to health care workers? then we're looking at february and march nursing homes, then most likely and a problem for them or ronna world population. don't expect a widely available vaccine for every want until at least april and may 2021 percent r t correspondent side thanks for keeping us up to date. and it seems like all year

long we have heard about the struggles of the airline industry. you know, those struggles are part of the reason for the massive bailouts provided by congress over the summer. but were those bailouts enough to save the industry or will a new round of lockdowns send the industry plummeting again? well, joining us now to discuss a boom bust co-host, ben swan and christy, i always a pleasure to have both of you on together. ben, i want to start with you on this. how bad are things getting for the airline industry at this point? yeah, it's gone really from bad to worse. originally, the airline industry had projected the beginning of this year. they were going to lose about $100000000000.00 total. at this point, it looks like it will be one $157000000000.00 in total for the airline industry last time. remember, as you mentioned, there were a lot of bailouts earlier this year. those expired, obviously, were used up by october and there's been no relief packages since then. so the airline industry, now that we're talking about a possible 2nd round of lockdowns,

not just in the united states, but worldwide. things are not looking good. in fact, several different airline c.e.o.'s are saying that the aviation industry,, this is airbus, the c.e.o., will not reach pre-crisis levels brant until the year 2025. that is now the predict prediction in terms of getting back to pre-code levels. that's assuming, of course, that the trajectory from here on out is upward rather than stagnant kristie. i want to shift gears and talk about the broader economy and maybe we could call this some good news. the dow hit record highs tuesday following. the trump administration's move to begin the presidential transition process. president trump actually spoke about this record day today. as the stock market's just broken, 30000 never been broken. that number, that's a sacred number, 30000 and nobody thought they'd ever see it. that's the 9th time since the beginning of 2020. and it's the 48th time that we've broken records in

during the trumpet ministration. and trump was quick to obviously tout that 30000 numbers, but didn't actually mention transition. what was their actual fear in the market about a trend that a transition might not take place or that it might just be delayed? what are you seeing there, christine? i mean there was a lot of speculation and fear are real. recognize bamber, that they're not going to be used in the transition, especially president trump back then declaring that were not relinquish his positions are easily so there was no consequence. and in the market price set in a little bit, i think the market comfortable that there will not be any major issues or destruction during this transition period. and so we have today where the doubt is breaking over 30001st. and this rally has really been driven by an asterisk increase next year to all the cool down. so it's a bit of a catch up train now that the big election overhang has the and this was a big reason specially after johnson was a stray. should she told president elect joe biden, that the company ministration is making federal resources available for his

transition into office? so president, he did actually approve of this move, even as he's continuing to. so the market really digested almost constant news. that hopes for economic recovery very well. and since coronavirus is now back of headlines, all political uncertainty has now reached the bar kristie as a follow up to that we just heard, sire talk about the general population is going to see a vaccine until likely april may. and that's just the start of that vaccination process for of the united states. we're talking about what 350000000 people, 1000000 people. so if this all just going to eventually drop out or can these markets sustain these record high and continue to go up? i think it'll be difficult for the markets to actually sustain this because the markets are always forward looking. so they look forward to as positive news a quarter out to carry out the banks that end of this month to draw how rotten

happened now and maybe next year. so there could be delays, it could be transition period. it could be you were just simply not refusing to take a backseat, so a lot can happen between now and then. but right now as the current projections, people are pricing in one where cheap queries out. the gentleman seen actually no better. i can just go ahead and you can, i just say about that 2 things very quickly. and i think chris is right about that . but something she said there, that i think we can just skip over is the fact that about 50 percent of the american population right now says they do not want to take a coronavirus vaccine. that's going to have a huge impact if stay at home orders. if shut down orders, stay in place until a vaccine comes along and half the population says, i'm not going to take it. how does that affect the policy that gets put into place that decides whether or not, you know, business is reopen an economic shutdown? fallout, the other thing is it's important to remember is that even as recently as this week, dr. anthony fauci said, well, even when a vaccine comes along, we may still have to wear masks and socially distance. so if you own

a restaurant or a bar, or if you are in the service industry of some kind, you might not be getting back to normal, whatever normal is for a very long time, regardless of the vaccine. absolutely, ben, i want to hit on another point here. we got a kind of a bevy of stories today. when we talk about the incoming biden administration, president elect joe biden is expected to nominate former federal reserve chair janet yellen. as the u.s. treasury secretary, the some we talked about on monday, not only with this break the gender barrier for the role, but it would place a very distinct set of leadership into the position to turn around this economy. would it not? so here's the thing, you know, i'm the fan of the federal reserve. i don't like the way it operates. i don't like the fact that it has so much authority over monetary policy, which i believe constitutionally belongs to congress. and congress kind of abdicated that. and just handed it over to the federal reserve. janet yellen, of course, is like the poster child for the federal reserve. so the fact that she will be there. i think if you ever thought there was any thin line between the treasury department and the federal reserve,

that is obviously completely erased. but in fairness, is there really a line there? i mean, what we've seen with steve over the last year working with your own power, essentially, it's just one operation anyway. so i think if there's a positive here, it will erase whatever illusion people have about the federal reserve, essentially running monetary policy and fiscal policy for this country when they're really only supposed to run monetary policy. so i think it does a race that line. it's a positive in that respect, but in terms of what she's doing, i don't think we'll see a whole lot change because the federal reserve has been running the show for years, including when she was in charge. and even now when jay powell is in charge, and now christie, one last thing before we go here. now we like sagar record highs. we're hitting the dow today because it is getting close to the cryptocurrency path, $19000.00 on its way to those all time highs over $20000.00. will it hit a new high this year? kristie? i don't think there is any doubt in people's minds right now. market for it will hit an all time high very soon. i mean we're marking cat has already hit an all

time high this week to about 3 $129000000000.00. so this breakout is to do. you knew a need the entire market and higher as well. so we continue to win in this market that will only push prices higher. so 1st off as we started out, we see drops in exchange reserves. so this shows that people are moving a bit off of the exchange, indicating that the holy, not sound like year to date. my mountain on exchanges have dropped 8 percent. so this is really significant because it shows that there is more appetite to buy, then sell at her price almost like the rally. so secondly, we talked about the rising institutional demand in the past month. 70 percent of all the new lead mine decline and that is only expected to increase. and finally, this market demand is primarily driven by spot demand. misspells, i'm pretty crisis. production is relatively inelastic. you can't see that mining much more from here. let me while demand is heiling up. so this market is really leading the derivatives market right now. and this is really important because the

opposite was true. last year. the futures market led the rally, then became susceptible to water price movements and some dislocation. but this time it's a spot market that's leading, not leveraged product, so demand israel. well, next time we're going to have to talk about exactly how high it can go. boom bust co-host, ben swan and christiane, thank you so much for breaking it all down for us. thank you. now for a quick break, but hang here because when we return, despite the toll of the 19 on the united kingdom, experts are warning that it could equally state the island nation's economy. straight ahead, we're going to dig into the details of where the split stands and as a break. here are the numbers that the club

is your media a reflection of reality? in a world transformed what will make you feel safe? isolation, community. are you going the right way or are you being that direct? what is true? what's his face? in the world corrupted, you need to descend to join us in the depths of the shallowness.

called a memory a little you know, well, you know, just when you watch him coming up on the board with the so you put some of us my money in some of these but i would give them i don't like the little which is this and locker room to start your own locker room with the words. there's a chance to start and this is your ship and i'm going to salute you.

welcome back. x. account maker produced pharma pleaded guilty today to 3 criminal charges related to its role in the opioid epidemic in a virtual hearing with a federal judge in new jersey, the drug maker admitted to not effectively preventing prescription drugs from hitting the black market and paying doctors through a speaker's bureau to get more to write more prescriptions for its drugs. now the guilty pleas were part of a criminal and civil settlement. and now it's back in october between purdue and the u.s. department of justice. the deal includes more than $8000000000.00 in penalties and forfeitures, but the company will only have to pay $225000000.00 directly to the government. members of the sackler family who own the company have also agreed to pay $225000000.00 to the federal government to settle civil suits. at this time,

no criminal charges have been filed against specific family members. and as the end of the year nears, there are still questions as to whether british and european to go union negotiators will be able to make a post breck's a trade deal for irish premier michel martin said monday he was hopeful that by the end of the week that we could see the outlines of a deal. martin said while there is still work to be done, there has been progress on fisheries and ensuring fair competition. virtual negotiations have been ongoing since thursday of last week, and also on monday, a spokesperson for the hughes negotiation team said while they are committed to a deal, there will be no delay in the deadline. but the end of the year, if you can leave the single market on the customs union, there is no possibility to extend the transition period beyond that point. as you know, that and still in the 1st of january is the days we are trying to get

a deal for the us to make sure the future partnership agreement is in place with u.k. on the 1st january. you either have it to you or you don't have it to you. that's just to be absolutely clear and honest. and to discuss, let's go ahead and bring in dean of the miami, herbert business school, john quelch and hillary for dutch board member of the british american business association. thank you both for being here today. hilary. i want to start with you michael moore, in that he says there has been progress made on fisheries, unfair competition rules, but these are both topics that we've talked about at great length with you on this show. are we really any closer to a deal hillary? pleasure to be back with you, brant. actually, yes, i would actually also note that j.p. morgan and throughout the entire summer, so how they're all of a deal. no deal. 2 thirds for a deal that there would be a no deal. brax it. well actually they've just opt to 80 percent and in terms of the actual content of the agreement, 95 percent of the entire agreement is settled. so there's only 5 percent up in the

air and yes, you're right. 5 percent is part of that of the fisheries. we talked about also governance and the level playing field. those are the 3 issues at stake. but with regard to the fisheries, yes, there has been progress. and also, a vandal actually picked up the phone and as a side to interject ourselves as has boris johnson, the 2 of them really want to see this don and they want some, you know, calm and peace with regard to the fisheries. and it's interesting that in france, micron is under increasing pressure and there is a growing of movement due to the fisheries issue. so he has to settle the bank of england governor andrew bailey has warned that the failure to security e.u. u.k. trade deal could do more damage to the british economy over the long term. then the coronavirus pandemic, which is wreaking havoc currently. what do you make of that assertion? and what could this do to the economy if there is no deal? no doubt the governor is correct. the covert crisis is

a short term suppression of demand. but the brics, it would rip with a no deal would represent very long term disruption to trade flows. that would, doubtless have a very severe impact on the u.k. economy. and on g.d.p., britain being a trading nation. this is borne out by a study that the london school of economics finalized in which essentially put the magnitude of the no deal breaker at approximately 3 times the impact on g.d.p. that the covert crisis will have no hilary. we know that the bracks it's been going on since 2016, but clearly the pandemic has made it harder to hold substantial negotiations. why is the e.u. so against the delay in this transition period? and is the u.k. even asked for this at this point where you are right about the pandemic?

come, obviously, it's wrecked lots of things internationally, but particularly fond of the e.u. trade negotiation negotiator. he actually contract to cut it back in march and lord frost on the british side. he's at the moment in self isolation. however, once he comes out of that isolation, purportedly vonnie is going to return to london hopefully to finalize things. so yes, it has put some, some problems they've been doing. a lot of things, though, i would say remotely, there's been a lot obviously, like i just mentioned ventilation and bars. johnson talking. but it is projected that despite all of this, they will still come to some sort of agreement, mainly because as i mentioned before that it's, it's, they're not going to both of them cut off their noses to spite their face. and just as we just talked about, the destruction to g.d.p. could be worse than the pandemic. so neither side wants to see that german manufacturers and you came manufacturers. all of them want to trade. the only thing that the u.k. does have is that 93 percent of all the products that the u.k. buys from the e.u.

they can buy from elsewhere. and there have been now trade negotiations with 52 other nations. and that's why the e.u. doesn't want to delay any thought that because they want to get this done. and it was looking at another dire warning about what could happen with a no deal, the society of motor manufacturers and traders. a british car industry trade organization actually says the failure to make a deal by the end of the year could cost 70 $4000000000.00 in tariffs by 2025. how big of a concern are these tariffs on vehicles like you said trade overall could be thrown off by this? so what are we looking at? and in your opinion, have you seen us moving any closer to equality? well that this is another example of an affected industry hyping the negative for obvious reasons to put pressure on the british negotiators to come up with something. now in the case of the auto industry have a situation where if there is no bread deal, cars being imported in the us into the u.k. will be subject to a 10 percent tariff at the port,

which will translate into about a 6.3 percent. retail price increase. at the same time, there is a certain number of cars that are manufactured in the u.k. by the likes of land rover and jaguar were some ford cars as well. and these, if they were exported to the you will be subject to similar tariffs unless 60 percent of the value added are represented by the vehicle is british made. and we have had a couple of rulings just very recently indicating that the e.u. is not willing to accept what is called cumulation. that is pots for example, imported from japan that are inserted into british made vehicles not to be counted as part of the british contribution to the vehicles for the

moment. only 44 percent of the average british vehicles value is represented by british made components as opposed to the 60 percent required by the e.u. . so the end result of this will be very difficult. tower of situation for cars being exported out of the u.k. to europe. and the same time the british consumer is hardly going to be assisted by having to pay 6.3 percent higher prices for imported cars from the e.u. . dean, john quotes of the miami herbert business school and hillary ford, which of the british american business association. thank you both for breaking it all down for us. pleasure. thank you. and that's it for this time you can get boom bust on demand on the brand new portable t.v. adverts, the vailable on smartphones and tablets. google play in the apple app store or by going to portable t.v. . we'll see you next time. i've

been with more of my guide to financial survival. this is a device used by professional scallywags to earn money. that's right. not accountable to the destabilizing global economy. you need to protect yourself and get informed guys, since the full of spain's fascist regime, but old wounds still haven't healed the news or you mean on the bus at us is mean older than us and the same question which we know of newborn babies were torn from their mothers and given away and forced

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or a maybe in the shallows. headlines this hour for the questions are raised over the astra zeneca coronavirus vaccine with the us task force. now saying it's not very effective when taken by paypal. i anger builds in france of the countries who will make it past a controversial bill that bans the filming of police officers for quote, malicious reasons. the white house transition gathers pace, president elect joe biden starts to fill.