girls, 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 on r t the says boom, but no one business or you can't afford to mit branch a bore in washington. and 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. 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 continues to return to some sort of normal compact show today. so let's dive right in and we lead the program with a meeting of leaders of some of the world's wealthiest nations. 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 covered 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, if the, if these global minimum taxes are really pointed at american big tech companies, facebook, amazon, google, those had the companies which as we've talked about, essentially what they do with 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 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 got to just say that g 7 is just not that big of a 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 you basically have to stand on the sidelines and they're informed about these discussions that happen. 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 internally 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. and 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 commend ally to join washington and taking this tougher stance towards beijing. and much of the technology ways that as for us to compete with china, it's now forced to play play, catch up in the space of digital currency. and lastly, the summit is also expect to be a launch of a green alternative, initially pushed by by the, in order to rival china, felton road initiative. so there's many funds with the u. s. competing with china over as well as trade. the u. s. now is especially concerned with trying to 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 foreign nations, especially in europe, they are still very reliant on china in order to recover from the pandemic. they remain very rely 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 they are not very shy about leveraging that relies because before the day before g 7 trying to pass the law to 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 denials, entry, deportation, seizing and freezing of property of individuals or businesses that adhere to foreign sanctions against chinese business or officials. so in short, what that means is that a western bank or firm must comply with us sanctions or can lose access to the 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 basically

a warning shot fired off by trying to yesterday that any collusion or attempt to bullying drain 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 did the d 7 have to place controls or restriction other nations and their digital cur? the currency policies. yeah. human, you know what the answer is, right. have no authority, right? the g 7 though authority to do anything with this. and again, this is where the idea becomes 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 nation in the world and you're not the wealthiest nations in the world. you're going to pretend that china, which is developing the 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 been, it's way, lot or iran, or countries like even small countries, poor countries i go salvador, that just made big point apart, as we talked about earlier this week, a part of its legal tender. it's a 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 will all be 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 christy's point, more than anything. what are 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 it china, like, like any good, you know, 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 there 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. and investments and the capital markets. so whereas where everybody was clamoring to list on the nasdaq on the tao and everything on the 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 in the

market were mixed this week. as we see, the world's top academies recover on separate path as coban cases and vaccine distributions very from country to country. let's start in russia, where the mo, x is up for the week. inflation continues to take up in the country in response to the russian central bank actually announced friday. it will raise 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 pulled 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's to record has not seen since february. just this week, the world bank revises outlook for india's economy predicting and 8.3 percent growth for the fiscal year. despite the devastating toll, the crew of virus has had in india in australia, the assets, it's in the green closing out the week at record, high tech and gold stuff 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 up but just barely for the week. data on that u. s. 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 got to 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 it that it may actually have to delay the lifting of all locked down measures due to the spread of the delta cobit varia. the german dax is down, while the french tech is actually up for the week. the european central bank and now it's 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 could 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 evo best, but in the green this week, president j are both narrow and now it's 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 vaccine raw has seen severe shortages and delays north to mexico. that b, m. 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 can 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 extra revealing that the last month increase was the largest since 2008, however, markets continue to see gain with the s m. p posting record close on thursday. and finally to canada, where the ts acted up,

the central banks say the economy is recovering right on schedule. but noted that continued rising price is 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

ah, ah, news ah, in session rarely, rarely work except maybe a week, maybe a month. but the world always figures a way to get around the same. whether it's, whatever it is that's was anxious, don't work. politicians get publicity, and they say, see, i am saving the world, saving themselves and they're making friends, which i

i use welcome to maximize their financial survival guide. looking forward to your benjamin this is what happened is the benches in britain

tell us that you watch kaiser report. the court throughout the globe have historically been a very healthy business. in fact, prior to the cobra, 1900 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 are live, the pen demik made no exception for sports, which created a world wide term wellness, sports industry. one, we have not witness in 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 end of fell, they bring in the most of the revenue with over 13000000000 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 of europe. 250000000000. and china is one of the fastest growing markets, make it more of a difference. and with last decades analysis the, our, to the goal of the sport market seem to be only going upwards until the pandemic head, then 2020 was canceled literally in all sports a scratch. now, a great example for the 1st time in the history of the modern olympics and one of the world's most watch sporting broadcast, the 2020,

tokyo lympics for postponed an entire year new to the pandemic. now a quick reminder, a tokyo to invest had $26000000000.00 to prepare for the olympics and without doubt, hope to get its return on investment. now. likewise, usa 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 costs the industry millions, if not billions in los revenue. now, the boston marathon was cancelled for the 1st time. and it's 124 year existence. then the international tennis federation council over $900.00 tournaments. now for the 1st time since the 1954 season, there was no monica grand prix in the formula one calendar. and now while some did

play like the and b a and a felon, h a and i and, and h, l skews 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 cobra, 1900 vaccine. the sports world is trying to attention to 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. blood cancers is looking very

good and now they're counting on avid fans to spark. restart this summer and fall, and after very long and paying for 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 panoramic 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, frank. art correspondence, sy, a tablet or thank you so much. and as we get ready for the 1st big concert and

music festivals in more than a year, let's take a look at just how the industry is handling this with steve stewart. he's the ceo and co founder 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 and 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 to the 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, 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 for promoters and things like that for

me all over the country and how many concerts are being booked. you know, it feels like several times a day. they're sending out the new booking. but it does seem like we might be going 0 to 100 pretty quick here because for instance, i want to give you an example. the fighters are going to play the 1st 100 percent capacity concert at madison square garden, new york city. more than 15 months on the in for the 50 month, that is to say on the 20th of june, they are also saying the crowd will 100 percent be vaccinated. but is it a concert? how fast we went from? no events to, you know, $20000.00 fans at an arena show. i think some of the public is going to have some reluctance to show up, but there's huge to me. i mean, a lot of young people that are music bands. 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 that 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 already see my clubs and bars and spring break. so i think it's pretty much different when you mentioned starting to come back with them as 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 can written those time. so what data they get, their 2nd vaccine are 1st, that she has 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 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 states. 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 manage thousands of 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, you will need to reflect that. so i think what they're fighting for england is really to have the labels and the conglomerates are 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 basic, what 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 split up any, any number of ways. and then the string subscription rate from shops, i mean the subscription rates here, i think about $900.00 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. if they increase out by 10 percent or 20 percent, that 10 percent 20 percent can pass on these rights holders 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, or 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 that tv. but the next time i go bust me, one of the persian gulf wealthiest country is, has spent billions of dollars on state of the art stadiums. wow. 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 the, for the 1st time in a world history, the stadium will be billed from shipping containers and what's more, it will be completely dismantled after the turn in safety harbor. and some are solutions every year. we try to dig into the solutions and we've got a special guest today. jim counselor of consular dot com one of the worst ever mass shootings in america was in las vegas in 2017. the tragedy a close a little live in real life vegas, where many say elected officials are controlled by casino owners. the vegas shooting revealed what? the l v m p

d really is. and now it's part of the stand machine. most of the american public barely remembers that it happened just shows you the power of money and las vegas. the powerful showed that true colors when the pen demik had the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care. so here's caroline goodman, offering the lives of the biggest residents to be the control group. to the shiny facade, conceal a deep indifference to the people, the vice could of been saved. if they were to take an action, absolutely keep the registering and keep the slot machines doing. this is a money machine is a huge cash register that is ran by people who don't care about people's lives being lost. ah. so it's a super cities like case studies to make it transformations over the past decade.

advance mega project most go for 2021. the largest international congress on make. it said he development didn't get used to the exact, from different directions. the attacks over various matter of seconds, various sorts, and degrees of gravity. and i'm not just done by hold. let me put in speaks to america's m b. c. news ahead if it's something for joe biden. next week, we have the highlights of what the russian leaders been site on a trip across the united states, julian found his family called on the government to drop the k against him over the country. still desperate to expedite the whistle blower, his supporters believe washington's sending a warning to others he is being held up as an example. keep your mouth shut. all this will happen to you. we talked to a.