onions, all of these came from waste found sources. the. this is great for me because i'm always looking for a way to give things away. dr. because the tax laws, you know, definitely do benefit the wealthier people in our society. so that makes sense for them to throw it out right off rather than give it to somebody who could use it, then that person is not going to buy it. the the, the, the the the the boom, but the one business. so you can't afford to mit branch bore in washington. here's

what we got coming up. we need to make sure that we learn the lessons from the pandemic. we may need to make sure that we repeat some of the areas that we doubtless made. and leaders from g 7 nations have convene to meet in england to discuss some of the world's most pressing issues, primarily the ongoing fight against coven 19 plus. 1 at the end of the week, so we take you for a spin around the globe to bring you up to speed on international equity. then we break down the return of live music and major events in the united states as the nation continue to return to some sort of normal pick some fact show today to let dive right in. and we leave the program with a meeting of leaders of some of the worlds wealthiest nation. the g 7 summit is underway in the u. k. a. u. s. president joe biden, making his 1st face to face meeting with world leaders since taking office. and the g 7 consists of leaders of canada, france, germany, italy, japan,

the u. k. and of course, the united states leaders from other major democracy, south korea, south africa, and australia will attend, while indian prime minister there in your modi will participate by a video link due to the cobra, 1900 pandemic, ravaging his nation. so what are these big items on the agenda? well, let's bring in boom bus, co host, spend swan and chris the i to discuss been, i want to start with you. one of the big issues that will actually be talked about is that president biden. and the leaders of the g 7 group of nations were publicly endorse a global minimum corporate tax of at least 15 percent. now this is something we've discussed on the show in recent weeks. but what does this really mean for the companies involved, specifically big tech. yeah, well it means these global minimum taxes are really pointed at american big tech companies, facebook, amazon, google, those have the companies which as we've talked about, essentially what they do is they set up their headquarters in certain countries and

then they have business being done in other countries, and so essentially what this, this agreement would do with it would say that companies will be taxed on where the majority of their business is done. not where they're headquartered. so you can't say, well, we're headquartered in ireland, even though the vast majority of our business amazon is in the united states. and so you won't be able to do that anymore. but what's interesting about this whole discussion, i gotta just say the g 7 is just not that big a big deal, right? they think they're a big deal because what we're talking about here are really 7 nations that at one time, we're a past part of the world's economy. that now consists of about a 3rd of the world's economy. and you have much bigger g p nations like china, of course, the largest russia, brazil, india, south africa who are not part of these discussions in china and russia aren't even allowed to attend. and the others that are attending, like india and south africa and basically have to stand on the sidelines. and

they're informed about these discussions that happened. and so a lot of it feels like posturing, like i have to be mean here. but why is canada there of all countries other than just stand there and surely for the united states and say yeah, yeah, whatever you guys want, canada and italy, their g d p is, is kind of pointless to be considered a world leader in this space. and christy to ben's point, you know, china and russia are not there every part of the g 7. that is to say, but china is actually going to be discussed quite a bit among these nations. what do you make that? i mean, it's a big topic because it's basically the only thing that both democrat them republican can agree on these days. and so biden is expected to try to play on that momentum and try to convince ally to join washington and taking the tougher stance towards beijing. and much of this done so the technology ways that as for us to compete with china, it's not for us to play, play, catch up in the space of digital currency. and lastly, the summit is also expected. see a launch of a green alternative initially push by biting in order to rival china,

felton road initiative. so there's many funds that the u. s. competing with trying to over as well as trade the u. s. now especially concerned trends growing influence when it comes to trade, so it will likely seek the help of other nations to limit that. so paging is right now has the advantage because a lot of the foreign nations, especially in europe, they are still very reliant on china in order to recover from the pen damage. they remain very reliant on china for all of these very basic products. so it remains to be seen whether these countries will be willing to risk damaging any bilateral relations with beijing or not. and major is not very shy about leveraging that relies because the for the day before g 7, china pathologic, counter foreign sanction. this was more of a symbolic gesture to western nations that their counter measures will be met with strong retaliation. these countermeasures include things like denial entry deportation. so using and freezing of property of individuals or businesses that adhere to for and sanctions against chinese business or officials. so in short,

what that means is that a western bank or firm must comply with un sanctions or can lose access to the u. s . market. but now that bank or from operating in china can legally be punished for doing so. and this apply to employees of the firm and family members as well. so it's basically a warning shot fired off by trying to yesterday that any collusion or attempt to bullying during g 7 will be met with equal force. and now been another thing that's going to be talked about a lot at g 7 is a crypto currency. and how to deal with ransomware? it's these discussions, but what kind of authority does the g several actually we really, we already know the answer this, but i'll ask it as i wrote it here. but what if you did the d 7 have to place controls or restriction other nations and their digital cur, the currency policies? yeah, you know, you know what the answer is, right. but have no authority, right? the g 7 has the authority to do anything with this. and again, this is where the idea become silly, right?

is that you have these countries that say, well, we're all going to agree as the most powerful nations in the world, the wealthy. but you're not, you're not the most powerful nations in the world and you're not the wealthiest nations in the world. you're going to pretend that china, which is developing a digital currency right now is, is dependent on your decisions as the g 7 or russia that's looking at doing the same thing or countries like venezuela or iran, or countries like even small countries, poor countries. i go salvatore, that just may bitcoin apart. as we talked about earlier this week, a part of its, you know, legal tinder. here's what's important about this concept. is that what the biting administration and what all these countries did was they all turn around and say, look, the g 7 were going to make decisions and the rest of the world will abide by them and the $140.00 some countries around the world. well, we kind of be bound by whatever agreements are made here. and so if the g 7 decides we're going to crack down on crypto currency, there is no place to hide. really. i think there's a lot of places to hide, because you don't have the authority to unilaterally decide everything for the globe. even though if you watch cnn,

you things that they do. if you watch most mainstream america news, you would think that this was the authority they have, but it's not. so i think what we're going to find out of this is, it's a lot of kind of blustering and to christie's point, more than anything. what do you really going to do if china doesn't like what the policies that come out of the g 7 and meet with force? what are you going to do? because the fact is, china like, like any good dealer is in charge and we can coming back to china, asking you to buy our debt, take care of us, sell us cheap goods, we'll do whatever you want, but then we're going to be tough with you verbally, doesn't make sense. i and chris got about 30 seconds left. i'm gonna give you the final word on that topic there. exactly, because in china, especially right now, they believe that the g 7 is basically a remnant of the path and its influences in the decline. but as the world begins to recover from this pandemic, all the countries remain as reliant as ever on the chinese market, an investment and the capital markets. so whereas where everybody was clamoring to list on the nasdaq, on the tao and everything on american exchange right now,

the capital inflows are going to china. i'm sure we'll have more of this next week with boom bus, co host ben swan and christy, i think you both the market were mixed this week. as we see, the world's top economies recover on separate path as coban cases and vaccine distribution is very from country to country. let's start in russia, where the mo, x is up for the week. inflation continues to pick up in the country in response to the russian central bank actually, and now it's friday. it will raise the interest rates from 5 to 5.5 percent. the economic recovery and higher energy prices are believed to be the biggest drivers of inflation in the nation. now the shanghai composite is also up for the week, but just slightly. the index closed out the week with a boost from resource and energy fact, despite them declined in the banking and financial sectors. optimism is up thanks

to more demand from the united states, despite arrive and consumer prices in hong kong. the hang thing gives us our 1st red arrow, however, gains on friday, helped and a 7 day losing streak, which saw the hong kong index pull back about 2.5 percent. overall, it's worth stretch since 2015. moving to japan. but ne, k is also down next week. the bank of japan is expected to extend pandemic relief program in support of a fragile recovery. wholesale prices are said to be at a 13 year high. however, low demand is actually pushing down cor consumer prices. now to india, where the centex that is up, the index it touching record has not seen since february. just this week, the world bank revise. its outlook for india is economy producing an 8.3 percent growth for the fiscal year. despite the devastating toll, the cro virus has had in india in australia, the assets, it's in the green closing out the week at record. high tech and gold stock helped drive the index to the 4th straight positive week easing inflation. periods in the

united states are helping to boost sentiment in australia, the all share in south africa. it's but just barely for the weak data on that us inflation and demand actually help boost the ran to its higher level. and over 2 years, it is now the best performing emerging market currency for the year. now we can move over to europe and the america in the u. k. the foot see in the green after report showed the british academy grew 2.3 percent in april. the index is on track for a 5th month of gains led this week by the travel and mining industries. this, despite the u. k. government signaling that it may actually have to delay the lifting of all locked out measures due to the spread of the delta cobit various. the german axes down while the french tech is actually up for the week. the european central bank amounts on thursday that it had no plant, the taper interest rates and asset purchases amid rising inflation concerns the latest that it shows that you economy can track it point 3 percent quarter on

quarter, which was less than the point 6 percent. that was expected. now we move across the atlantic to brazil, where the eco best, but is in the green this week president j are both in r o announced on thursday that the math mandate will actually be removed for roughly 10 percent of the population who are fully back stated brazil is known for having the 2nd highest death toll related to cobra, 1900. and it's a vaccine raw has seen severe shortages and delays north to mexico that b and b is down. but just slightly for the week, the country's government indicated it will pull back on plans to implement new tax reforms over concerts that it will hurt the overall recovery. top officials hosted us vice president, come all a harris this week and a series of talks which included the bite administration pledging an additional $130000000.00 in technical assistance to mexico. here in the us, stocks are mixed with the nasdaq and the s and p in the green while the dow is in the red consumer prices were up 5 percent compared to may 2020 with the labor

department. actually revealing that the last month increase was the largest since 2008. however, markets continue to gains with the s m p posting record close on thursday. and finally, to canada, where the t s x is up, the central banks say the economy is recovering right on schedule. but noted that continued rising prices driven by supply shortages is still a concern. inflation in canada, hit 3.4 percent in april, marking its highest level in more than a decade. moving into next week, we will continue to watch what's going on in the world, including upcoming nato talks and brussels along with that highly anticipated meeting between president joe biden and vladimir putin in geneva. and that is your market walk. and time now for a quick break, but when we come back, live concerts are set to come. roaring back in the united states is the nation's vaccine fight has taken often recent months. straight ahead. we analyze the return of crowded music venue. that's going to break here. the numbers at the close.

the me join me every thursday on the alex summon show and i'll be speaking to guess in the world, the politic sport business. i'm show business. i'll see you then me the one of the persian gulf, the wealthiest country is, has spent billions of dollars on state of the art stadiums. well, look at this, the stadium is really taking shape. you can see the bowl and most of the stands now,

when we were here a little bit over a year ago, at the same construction site, it was just a foundation and a few metal structures. so it seems that time why this idea to use shipping containers as building blocks has definitely paid off. i mean, they're easy to assemble and easy to dismantle, just like playing with lego. for the 1st time in world history, 80 will be billed from shipping containers. was more, it will be completely dismantled after the turn in safety harbor and last summer solutions. every year we try to dig into the solutions and we've got a special guest today. jim counselor of consular dot com as

a korea professional sport is much tougher on some than others. she was 3 year old myer by everybody. so why would somebody believe me? i was just a little girl. the price paid to, to, to achieve really was, was to read in the paper this morning, usa swimming coach, arrested, allegedly had sex with a 12 year old girl. this happens almost every week. we get calls at the office. i get informed about one of my greatest fears is someone's going to start linking all this together. there's going to be a 60 minute documentary about youth coaches in sports like gymnastics swimming. is that documentary? see it phone r t i think most likely is that we will find the equipment floating for space that was sent by an advisor

to be late. the experience would be similar to walking on the beach. most of the time use the rocks or the shows that were produced naturally, but every now and then you encounter a plastic bottle and that gives you an important message even if it's not functional. he says that the realization is out there. ah, the 4th throughout the globe have historically been a very healthy business. in fact, part of the corporate team pandemic, every sign showed live sporting events were on pace to set a record in terms of economic activity. then the pandemic happened and left the industry shattered. while events still took place most were left without fans in the stands or very limited capacity. now though, the industry is looking at 2021 with hope, but just how fast can they make

a full come back to that story? we had our t correspondent sites, avager, sir brand, overturning all areas of live. the pen demik made no exception for sports, which created a world wide term wellness, sports industry. one we have not witnessed since world war 2. and of course, turmoil translates to a huge loss in revenue, and the global sports market is huge. with an estimated $756000000000.00 earned annually from sports now the nfl, they bring in the most of their revenue with over $13000000000.00 followed by the m l. b than the soccer premier league than the n b a and a child. and so on, and the u. s. is responsible for around $420000000000.00 to europe. 250000000000. and china is one of the fastest growing markets make it more. so the difference. and with last decades analysis, the, our, to the global sport market seem to be only going upwards until the pandemic had

been 2020 was cancelled literally in all sports a scratch. now a great example for the 1st time and the history of the modern olympics. and one of the world's most watch sporting broadcast, the 2020 tokyo olympics for postponed an entire year due to the pandemic. now, a quick reminder, tokyo had invested $26000000000.00 to prepare for the olympics and without doubt, hope to get its return on investment. now, likewise, that you have a euro soccer match, which was to be held across europe in 2020 was also postponed. and although they're playing right now, as we speak, they still last about $2000000000.00 from sponsors and broadcasters in 2020. now take a look of the list of all the other sports that were cancelled for the 2020 year, all of which cause the industry millions, if not billions loss revenue. now the boston marathon was cancelled for the 1st

time and it's 124 year exist and then the international tennis federation cancelled over $900.00 tournaments. now for the 1st time since the 1954 season. there was no monaco grand prix in the formula one calendar. and now while some did play like the and b a and a felon. h and an h l, excuse me, they played with no doubt with no fans. and in a bubble i solution zone. but now one year later, there is some good news now due to the quivered 19 vaccine. the sports world is trying to attention to a come back. and so far all signs are pointing to a very healthy come back, brent inside. what about the live entertainment industry? how were they impacted by the pandemic? so for the 16 months without live music hid the industry very hard, there were musicians, venue, sound engineers. everyone took ahead. now these numbers are really going to tell

the story, the global revenue from concerts in 2019 was $26000000000.00 in 2020, only $6500000000.00. so you could see the last there. but concert is looking very good and now they're counting on avid fans to spark it. restart this summer and fall and after very long and painful pause and already slowly but surely small and large concerts popping up across the country. in fact, june is on track to be the 1st month since before the pandemic began. that events, the u. s. will bring in more than $1000000000.00 and $2.00 of the largest ticket marketplace as a stop hob and a live nation. both are expecting the number of events and ticket sales in the 2nd half of the year to match, and pretentiously, then exceed 2019. but so far this year events haven't yet reached their pre can damage levels. but it's expected to as more events are added. and while they're not

going to look the same as before, for fans and artists specially they come back is definitely welcome front r t correspondence sy, a tab or thank you so much. and as we get ready for the 1st big concert, the music festivals in more than a year, let's take a look at just how the industry is handling this. with steve stewart is the ceo and hope owner of best and former manager for stone, temple pilots. they've always a pleasure to have you on the show. how important i want to start with the basics here. so how important for the music industry is the return to live concerts in festivals. right? it's critical, right? there's 2 big pillars in music income. one is copyrights, the other is live performances and you take any sized story. there are $20000000000.00 out of the market out of the ecosystem or the last 16 months. there are people that are literally, their livelihoods are based on turing and ability to play live that's been taken

away. so it is literally the life. lot of many, many artists including the agents ecosystems right now it's, it's fair that and now it seems very exciting and frankly you see it, i mean, i can't tell you how many email lists i'm on from promoters and things like that for me all over the country and how many counselors are being booked, you know, it feels like several times a day they're sending out the new bookings, but it does seem like we might be going 0 to a 100 pretty quick here because for instance, i want to give you an example to food fighters are going to play the 1st 100 percent capacity cancer at madison square garden, new york city. more than 15 months on the in for than 50 months at the say on the 20th of june. they are also saying that crowd will 100 percent be vaccinated, but is it it concerning how fast we went from? no events to, you know, $20000.00 fans to add an arena show. i think some of the public is going to have

some reluctance to show up with this huge to me. i mean, a lot of young people that are music pam's. they felt like they've been taken away from this for a year. so i think there's going to be a lot of people want to get back. i had a conversation with a friend of mine who owns too many outside of chicago a few minutes ago and she's mentioning the man to come back. there are some issues with testing and are going to verify that and i guess, you know there's a backseat passports being talked about. but i think overall you're going to see people come back in a big way. are already seeing my clubs and bars and spring break. so i think it's pretty much driven. the ministry started to come back with them. well, and that was the point i was going to make because this is kind of put a strain on event organizers. and those artists to make sure that everyone is vaccinated and safe because it's kind of hard to do with situation where you might check beforehand because you don't know about the retail of tickets unless you're doing extra tracks. and again, if you're using the madison square garden example here, that $20000.00 fans and one night they're going to have to check all of the documentation about the documentation. and you know, as you know, it comes on

a card to hand written those times. so what day did they get their 2nd vaccine or 1st back, she hasn't been 14 days after that. so there are a lot of issues logistically, but i think once you see this rhythm come back and people are relatively unscathed when they, when they come out of those things, this is going to proceed much more quickly than we thought. there are a lot of permissions say 2022 by mid and summer of this year. you'll see a lot of these big events i think is coming back in chicago as well. why? that's why you see a lot of these festivals and really a lot of them have been pushed all the way kind of to the end of the summer where they used to be in the july august range. now they're looking kind of september early october. you're definitely seeing that and i want to touch on something with you because we've had you on this before. and you actually mentioned in your 1st answer there, about licensing and copyrights, because the big name artists like the rolling stones, van morrison, and around 75, others have actually written a letter to u. k. prime minister boris johnson,

urging the government to change the royalties, paid for streaming and streaming it exploded amid the pandemic even more than it already had. as it had basically overtaken the industry as it was. the letter state sa graders earn 50 percent of radio revenues, but only 15 percent in streaming. streaming has been around for a while now. but why is it taking so long to understand music consumption has changed and actually changed the way they're paid for this. you're dealing with huge media conglomerates, right? you've got the big 3 warners, universal and saudi, their global conglomerates, and manage thousands and thousands of employees and hundreds of divisions globally . but i think you're right their, their deals, their, their contract structure is still based and physical product where you have to actually manufacture something, put in a truck to get it shipped off to a retailer and then take returns. are there any problems with that? that's, that's out the window. people are now in a digital economy. these contracts used, you'll need to reflect that. so i think what they're fighting for england is really to have the labels and the conglomerates on both the labels and the publishers. and

there is a master side and a songwriter, so i will have different income streams coming from streaming services, right after 60 percent basically goes to master label and about 15 percent goes to the publisher. and if they can make more like a 5050 split to accommodate some of the digital discrepancy that we've talked about a 2nd ago, i think that makes a big difference. i think also if they switch to a user centric model versus a platform centric model where each song require your portion of your subscription goes that particular artist not into a pool which is put up in any number of ways and industry instruction rate from shops. i mean, the subscription rates here i think, are about 900 spotify. that could go up. you're getting access to every pop rock country or be song pretty much in popular demands for a very, very small fee per month. they increase out by 10 percent or 20 percent, that 10 percent 20 percent can pass on the right folders and ours that are hurting right now. so we're going to have you come back on and i want to talk about that

specific industry issue because it's been 20 years since napster change, the landscape of music. and i feel like we have not addressed it at all. steve stewart, the co founder of best, thank you so much. base rent and that's it for the time you can catch boom bus on demand on portable tv available on smartphones, tablets, through google play, and the apple app store. by searching portable tv, portable tv can also be downloaded on newer model, samsung, smart tv, as well as roku devices or simply just go to portable dot tv. but the next time i go bust me ah, ah, with

these are the 4 people who pulled the trigger, survive something on survive football. one of the hardest things that i had to face was not having a face. i had a low expectation that accepted their accept the fact that i made that appointment . we had no fears. del change pretty fast for shots. different stories behind the bullets. we're here in saint petersburg at the international economic form. and the topic of our program is the global economy. how is it changed since coven, for the winter, for the losers? what are the challenges and what are the opportunities

the, the ah, russian president vladimir putin speaks to us media ahead of the much anticipated summit with joe biden labeling, accusations made by the us president, that he is a killer as an expression of us culture. my sense of deep so basically we have young police officers who by age alone will not be vaccinated. how can not be once you k police chiefs raised the alarm over lack of vaccinations for the force and the fears at the $5000.00 and jabbed officers at the g. 7 summit could become uncovered super spreaders. while in new york parents declare war on woke, indoctrination at school putting up billboards demanding their children and.