when you mentioned kim illusion actually done on the, on the financial young hoody division that you least could, you could shoot me to the lower the with the the the boom bus, the one business show you can support them in san branch bore. and i'm rachel. one is in washington coming up, reports are thing white can talk that i p o on hold indefinitely over concerns about data security, risk voice by the chinese government. we'll take

a look at aging track down on company is going public in the us. and in other news, robin hood is facing everything from federal, fine to criticism and read it as it files you go public. we'll discuss how all the pressures fans impact the popular app moving forward. and later trade between the you can, you is picking up the fight post wreck, the concert. we'll go over the numbers and see whether the trend will laugh. we have a tax, so today. so let's dive right in we leave the program with by dance, the company behind social media giant tick tock, shelving its plans for an ip mid scrutiny in china. beijing based social media giant last valued at $180000000000.00 in a funding ground in december, had been weighing an initial public offering of all or some of his businesses in the us or hong kong. instead, the companies found or decided that it would be better to wait. joining us out, discuss harpooned by co host, spend swan. christy. i ben, i'm going to start with

a big question. why is bite dance, making this move to pull back these plans? yeah, i think there's a couple of big reason for the biggest is that china has this regulator that's essentially stepping up and saying that they're going to be new rules. if you're a company that has over a 1000000 users, which obviously take talk far beyond that. then you're going to be required to go through additional regulatory approval in order to be able to list your company as an ip. no, and this is not just a bi dance exclusive, tick tock, exclusive rule. this isn't a new crack down essentially on these companies, because the idea is that if you're going to sell off your u. s. and your hong kong base, or ip, excuse me, your us and hong kong based parts of your business, which is what by dance was looking at doing that other countries, other nations may be able to compromise the data that's within the app. the funny thing about this decision by chinese regulators is they're arguing essentially the same thing that the u. s. government was arguing about tick tock over here that

china can access the data. and so remember back a year ago, trump wanted to force the sell of take talk to microsoft in walmart. and so instead what we're seeing is the chinese doing the exact same thing. same where we want to make sure that the day is not compromised by the country. you're selling the i p o in. and therefore we're going to put new rules on. it is interesting to see how know china is kind of getting their hand at being able to talk about some of these possible security risk and concerns. and we are seeing this ongoing ongoing crackdown rather now. kristi, why are companies like ride sharing giant d, b and bite dance? so set on going public in the us rather than say, china? well, i guess the most obvious reason is that most of these chinese, especially tech companies, they don't even qualify to list on the china exchange in the 1st place due to chinese regulation. because according to the, you have to be profitable for i believe it is for the last 3 fiscal years and actually of a net profit of over 30000000

r m b to even be considered for listing on it. so then if you look at tech companies, most tech companies don't operate that way. and if you look at the most successful chinese tech companies, such as i do seen way below and all of those, none of them were profitable when they listed on the us exchanges. so literally, that's one of the biggest reasons america allows for tech companies to actually get capital in order for them to grow and then become profitable. they could even list and trying to, regardless the market share or but possible potential. and then other reasons for companies like ali baba who actually were profitable, but still chose to list on the us exchange anyway, that was also due to the differences between the chinese in the us exchanges in the u. s. offers voting powers that are beyond their share. so founders and management team, they can actually still keep control of the company even with less than majority shares. and that is just simply not possible in china. so that was very important. alibaba to actually maintain control of the company. and then just to put it very simply, the listing in the u. s. allows a company to be deemed international. it is better to then attract international

source of capital from the us from europe, than to list in china where you're getting only capital from a very small domestic and local pool. and christy, i want to follow up on that because there are a number of chinese tech firms that want to move ahead with i p o in new york. but the real question here is, well, basically allow those companies to move forward. i think they will continue to allow them on a very small scale to list in new york, but it will just make it very difficult for these companies. so rather than barring all companies from listing, they're simply enacting the c a c as a, as a kind of a watchdog organization, kind of like a gatekeeper to try to limit the flow as they say, because of cybersecurity because of data sharing was what been mentioned before, if you have users over 1000000, you have to go through this very lengthy investigation process that is a direct copy from the us regulations and the u. s. playbook. the china is now on the defensive because there's a continuing hostility between the us and china. and because of these are very hot

sectors, namely tech and finance. aging is now going to become more defensive when it comes to these overseas listing requirements, because they don't want an episode of if the u. s. if conditions actually to carry the u. s. did say that, hey, we can pull all of these chinese companies off the stock of the stock exchanges, and that would be extremely detrimental in the long run. for all these chinese companies, there's more of a defensive play for now, rather than an outright feeder. certainly those tension between the 2 countries do still remain now then china's market regulator on saturdays that it would block tend to plan to merge the country top to video games streaming sites on anti trust grounds. what happened there? yeah, you know, we talk about this quite a bit. it seems like, which is this idea of anti trust coming out of china. the chinese regulators are being very serious about this. they have a mandate to say, make sure that you don't have companies that are too big and therefore is bad for consumers. in this case, the 2 companies that 10 percent would want to,

to merge with essentially collectively they would control 80 percent of the entire gaming streaming market in china. and so the regulator said, nope, can't do it. you're going to be too big. and again, i, you know, it's, it's hard many times to give china, i think a lot of credit for things that it's doing because obviously there are top down system. and if you believe in the free market as i do, it's difficult to look at that. and say, hey, you're trying to do it great. but on anti trust, i got to say china is doing great. they are doing the right things in terms of protecting the market, protecting the consumer, and not allowing a few companies to become too big. and one thing about trying to do was they're being extremely consistent in the application of that they're not letting a few companies get too big and holding everyone else back. and that's an encouraging sign. chris, i got 32nd to get the final word. i think it's very encouraging, but i do think that it's also detrimental. that's another reason why chinese companies decide to listen to us because of the complete oversight of the top down approach. yes, i gun like ban says i agree with the free market and i,

and unfortunately it's just a big companies tend to succeed over little companies because they have more capital and more access to access to capital and investment than access to talent. and that's the most exported thing when you're growing as a tech company. so unfortunately when you're big, it's easy to get bigger and it's more difficult for the small guy to then come up and compete. so i am a little, i'm a little conflicted on that. fortunately, on the one hand, it's great that they're, that they're applying this and they're playing and consistently. but on the other hand, i do believe that if you are doing well, you should and should be able to continue doing well and even better. boom bus been swan and chris the excellent analysis as always, thank you so much. the long awaited i p over the popular stock training up robin hood has been surrounded by controversy to say the least from a 70000000 dollar federal find you a push from the read it you there's that made it famous thing the world should ignore the robin hood i p o altogether. so what will this mean for the future of

the newly public company? joining us now, this guy is michelle snyder, partner and director of training research and education for the market gauge group . now michelle robin hood was just fine $70000000.00 by wall street self regulator for widespread and significant harm to the users. the company is also under scrutiny from the c c over the practices that generate most of its revenue. so how do investors see all of this pressure right now? well, we can add to that by the way, the $12600000.00 they had to pay and restitution. what i like to call the list of their crimes and misdemeanors. for example, false margin information, erroneous margin calls inaccurate account balances, inaccurate options, trading risk mean stocks. they couldn't keep up with the volume. and we had that unfortunate incident where that 20 year old kid committed suicide because he

thought he owed a lot more money, which really goes down to i think their biggest issue, which is customer service. so if we put that all aside, let's look at where they make money. so where does robin hood make money? first of all, they have interest on their uninvited cash. so in other words, if you don't actually invest the money, they will charge you interest on that. or you also have a subscription service called gold service. they get $5.00 a month on that one from their people and they have $30000000.00 subscribers. but their biggest way that they make money is selling order flow, and that's where a lot of the reddick people are extremely upset about. because in essence what they're doing is they're selling your order flow to institutions, which then of course, can jump ahead those trays. so if you put that all together, we have to continue to see where it's going to monetize from number one. obviously it can't get itself into too much more trouble at this point. and also just the whole trend of the trading has to continue,

which means the market has to face all them if we get any kind of shift in how people are investing, that could be trouble for them. so that's really the bottom line. they had the 0 commission everybody's doing and now it's more competitive. and, and essentially really basically they was, i said, i think the most important thing is that they cannot really sell in terms of that customer service. but you, like you said that day trading trend has to continue those retail traitors have to stay in it. and we don't know if that's going to go away when people start to have to go back to the regular life. and frankly, that's why their capital, i think on this i p o, right now they're also pledging to set aside 35 percent of its shares for individual investors. those retail traders that we've talked about, what kind of impact do you see this having? is there any conflict of interest in this plan for robin hood to encourage users to buy their company's stock basically on their own platform? well, it's definitely a typical because usually the retail investor does not get an opportunity to

participate in an i p o. they've already res, $15600000000.00 from private investors. and they're looking to raise another $100000000.00 like you said, from their actual own customers. so essentially what you have to really understand is that there is inherent risk in buying into an i p o, especially as you just said, brand considering that they're making the money off of you. so now you're sort of double dipping in terms of your investment, and so i should just do your own diligence and expect that there could be bumps in the road before you decide to plug your money down. but on the other hand, they're growing, their user base is continuing to grow. so it can actually also turn out to be a good thing. you really have to understand when you're getting into. now in terms of growth, you know, we've talked a lot about how these read it, users really help turn robin hood into a viral sensation earlier this year with the whole mean stock craze. now it seems like there's kind of a movement to go back against robin hood and just ignore this ip altogether. so is

there a chance that those read users could have a significant impact on the company's ip? no, before it is even gotten off the ground? well of course there is that there is a chance, but i think that i don't see that as being the major obstacle here. i think the most interesting aspect that comes out of the red it is that robin hood shelf can become a mean stock. but you know, if you look at the company, it has the least amount of barrier to entry to open account with literally within 2 minutes, you can get an account going. so if anything comes hot and they resolve the issues and they can put confidence back to their customer service them, i think those ready kids won't really have much to say about what happens with the ip. no. yeah, certainly be interesting to see how long it stays on their radar grade inside. as always, michelle snyder of the market gauge group. thank you so much for your time. thank you. and twitter has announced the hire of a grievance officer in india in an effort to meet new rules in the nation,

falling through on a promise made in an indian court. last week, the social media giant made the announcement on its website providing contact information, and procedures for users to report violation. the indian government instituted new rules in may, which would require tech companies to act quickly on legal request to remove posts and share details on the origination of the content. now brad, it's going to be really interesting to see if this has an impact all around or if this grievance officer is sort of just a way of them following these rules that india has now set up for them. i mean, i know when it comes to a website like twitter, if you see something that you think violates their content policies, you try to report it, it could be days if not weeks before they even respond to you. so now it's going to be really interesting to see if this officer is able to do anything. and if it actually moves forward with getting that harmful content that violates their policies off of the platform all together. certainly something we'll keep an eye on here on the bus and time now for a quick break,

but when we come back to trade between u. k. any you is picking up. but one of the nation's biggest port is concerned summer travelers could affect the progress. we'll go over the future of post breakfast trade. that's going to break here the number that the clothes shoes mm. mm mm mm. the one

who make no, certainly no borders and the blind to nationalities as we don't have authority, we go to the back seen the whole world leads to take action and be ready. not a joke. people are judge governors crisis.

we can do better. we should be better. everyone is contributing each in their own way, but we also know that this crisis will not go on forever. the challenge is paid for the response has been massive. so many good people are helping us. it makes it feel very proud that we need together in the welcome back. the construction of the north stream to pipeline is finally almost done. that's according to the projects executive director who says it is now more than 98 percent complete and should reach 100 percent by the end of august. the pipeline which is set to transport natural gas from russia. germany is expected to

be fully operational by the end of this year. that's despite years of pressure from the us, including threats of sanctions against one of his closest allies, while the vitamin ministration signaled it with lift sanctions on the swiss base company behind the $11000000000.00 pipeline. back in may. the topic of finalizing the nord stream to agreement between the u. s. and germany is expected to come up with president biden and chancellor merkle hold talks in washington this week. and you can export to the european union in may, rose to their highest level since october of 2019 exports to the block had fallen at the start of 2021 after breakfast officially took hold. as britain left, the e u single market and customs union, the british office for national statistics said good exit boards to the you, excluding precious metals of course, wrote the $19400000000.00 in may nearly twice what it was in january,

import into the u. k, from the 27 nation block. we're also up after plunging to start the here as the global pandemic effect and traffic in the english channel. so what did these numbers mean for the future of trade for an independent britain? well, the guys, let's bring in hilary board, which is a board member with the british american business association and president of st. marc consulting lc. thank you so much for joining us as always, hillary. so what is the take away from this tre data? does it slower the show that that slump was really only temporary? their pleasure to be back with you brand and also rachel, a pleasure to be here, but a couple of things. yes, it absolutely does. and one of the things this does, of course, is it actually thoughts, all those doom and gloom predictions arm and a few things i would like to practice. i'd like to mention on the bank of england's actually projected that growth in the u. k. this year will be 7.25 percent, which is the fastest growth since 1941 with re altima for world war 2. so definitely also the city of london last week just re claimed its crown as the

financial capital over amsterdam. now the great data point and also lives trust who currently is over here. she's the trade representative from the u. k. she's currently over here to negotiate a u. s. trade deal. she has now completed 68 of the 70 trade deals that the, the person had with the rest of the world through the e. u. they used to be 70 now she's completed 68. we're almost back to where we were before she just completed one with norway and licks and science. so the answer to your question is absolutely, bryan is temporary and remember, these numbers are good and that isn't. that's including coded the adjustment off the brakes. it all of the customs and all the red tape, the people who are whining about so it's actually a really incredible number. while they're not wasting any time in this post world. now, at the same time, the head of britain's biggest port dover said the nation could face trade disruption as tours traffic picks up post pandemic. so what's the situation there?

i mean, can they avoid the prerequisite term while we saw with 20 mile long lines moving forward? yes. right. so you're referring to cause some bannister, he's a c, e o that down and over. and he actually requested a 33000000 pounds from the british government. to re structure and rebuild the whole facilities that to be able to adjust to all the red tape and all the things that are needed. that actually was turned down by the british government and he's appealing it on, but he's recognized there is a need for that because you're absolutely right. when all these tourists aren't hitting and of course where the english people want to go, they want to go abroad because they've been at home like everybody and every other nation. so i think you're going to see that in 2019 before brack set. there were, or before all the things have happened now it was covered as well after the breaks it vote. but before we actually had gone through things, there were 74000 coaches every day, 2400000 laurice trucks in america and over 2000000 cause that's going to come back

and that's why he made that appeal on the other side of the english channel. though in calais, you're more to so excuse the plantation is not correct, but he's ahead of calais and he spent, he is wanting to ensure that they want those sort of lines that one the delays. and he said once one, lori has gone through without the proper documentation, they will know what to do the 2nd time. so i think going back to brent's question about, is this permanent, on temporary, very temporary, but yes, probably some of the lines if you're planning to go in and out to the u. k. from the you, i'm not going to call everywhere across the world though with all of the vaccination checks including heathrow airport. and absolutely, when you talk about the 20 mile long, that's an extreme situation. we hope that we don't see that again. not as trade is normalizing. there's still a little bit of post breakfast, turmoil, and this time over the divorce bill. yeah. now we know a divorce is never cheap, but what exactly is going on here? yeah. which the, both of us bought it to, you know, a couple of things here on the

e. u is claiming that great person owes 47500000000 euros. whereas in the u. k, government officials are saying it's more like 35 to 39000000000 euros. gosh, how surprising that both sides. once i was less a month, i want more. now what those numbers are, the u. k. government is saying is, those were internal numbers for the e. u, and they didn't take into account all that the u. k has already paid back into the you and the previous agreement. interestingly, theresa may or johnson the previous i saw, had made many agreements. she agreed to the dollar, the euro numbers that will be paid to the you were ball. as johnson came into office, he did not question those euro amounts. he did not question any of those financials . and in june the u. k. did pay 6800000000 euros already to the u. hillary. i mean, we have to look at this. there was big news over the weekend. the english football

team couldn't quite close the deal, but quickly are we going to be able to of this is about 30 seconds. i really think all i have to say to you rent is katasha coming out and trust me, it's telling me, but no, this is going to be an ongoing saga. it's not going away. just like any divorce. they're always scamp that are going to be picked and things are going to, there's always going to be issues, i think. but if you look at the fundamentals, you look at the trade deals that have been completed. i think the u. k. it's not just my opinion, the data shows that the u. k is coming out of this really well and breaks it with a deal. well don, hillary ford, which i'm sorry to train you just a little bit there, but thank you so much for your excellent invalid. i will touch it with you. right. 5 and finally, richard branson became the 1st billionaire to travel the outer space on sunday and a highly anticipated trip with the crew from his company, virgin galactic unity, 20 to reach an altitude of more than 50 miles above the earth's surface,

where the crew experienced 4 minutes of weightlessness before they made their return. beautiful, stay for everybody. for anything such a suitable beautiful people all together. now it is no secret, but brands and b jeff bay those 2 space. but it appears that bases and his blue origin team were calling branson out on twitter by saying that outer space and doesn't really begin until it leaves 62 miles above the earth's surface leaping rather. oh my number. what i want to say that this launch was fascinating. it was so amazing to watch. it's different than what you see from space x and blue origin . so you don't see the normal rocket, which is awesome when they come down as well. but for it to relief from the plane

take off, it's like something you see in a movie, but come on, come on blue origin. now i do want to point out that baze, those and you are both in tweet. there couldn't graduation to. richard branford, but come on blue origin, you're splitting hairs over. i think it was about 20 kilometer. i think anybody who's getting up that far, we could say that they, they've been pretty much been to space at this point. well, if anything, we knew that jeff phases is going and then all of a sudden richard brands and announced that he was going to meet him there by just a few days, i guess as to way of getting back to them from what we understand basis is still waiting on f, a approval, which according to reports, could come as soon as this week. and you know, we will be on top of that as an app. and that's it for this time you can catch boom bus on demand on the portable tv app available on smartphones and tablets. google play and the apple app store. by searching portable tv. portable tv can also be downloaded on samsung, smart tv, and roku devices, or simply check it out portable dot tv will see next time me

ah ah no, you don't do it. you know it uncle nice to number to number one. well, you know, you didn't, you don't, don't, don't go down the limit of all use in the body. only put up on the i get like are you i mean that i think pretty all the find the article the most of it

from of it took a look of the middle kenesha and get through with those who knew put that all along plenty porcelain additional is going to separate your yes so what we've got to do is identify the threats that we have. it's crazy plantation, let it be an arms race is on often very dramatic development. only personally, i'm going to resist. i don't see how that strategy will be successful, very critical of time. time to sit down and talk.

she could fall simply real thing a little slow, letting them go by susan. well, i don't want to come a little to go see me when you have a week when you have a meeting in the room, initial pathetic steam girl, i'm going, i'm the one, let me come for the house was going to work it down and me go me and i'll start with you soon. this new looking here. when you mentioned that kim complete illusion initially going to normal financial young hoody and division. but you least could. you could shoot it to the lower ah,

the the, the, the claims of fake test results. no checks, no moths up your 2020 final. the walls health organization says it was devastating for us to control the pandemic. phil pm, boris johnson is pushing ahead with his freedom day pound for england next week, many and at risk off. horrified at the news, we have some, some of them. how many trying to mind if anything but freedom day? it's very funny man. and i, i'm not to rely on the basketball. goes on as part of a highly contagious delta barrier. take around the world, accounting for more than 90 percent of new cases in russia. we return to the red so to see how help walk the.