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tv   Boom Bust  RT  August 30, 2021 9:30pm-10:00pm EDT

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had gender reassignment surgery, ah, i readily accept the proposition this sum and pops many women prisoners may stuff, a fear and acute anxiety if required to ship prison accommodation and facilitate with a transgender woman who hasn't male genitalia. however, the subjective concerns of women prisoners are not the only concerns which the defendant had to consider in developing the policies. he also had to take into account the rights of transgender women in the prison system. by bringing this
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challenge, i did not seek to prevent trunk women in prison from living in dignity or to exclude all trans women from women's presence. however, i feel that trumps women have a history of violence and sexual offending against women should not be in a situation where they can put our safety at risk. take coleman from the keeps prison, single sex campaign group, believes the current regulations are making a mockery of the segregated prison system to our surprise and frankly, shock. the judges rule that this practice is lawful. that extends to housing, male prisoners with fully functioning male genitalia. i find that quite shocking, and if it is lawful to hold males convicted of right alongside women have been subjected in their lives to serious sexual assault. then the law needs change
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. we have a law in the he k called the equality and see $1010.00 basically it's out and he discrimination law. however, we have in that law, single effects exceptions which provide the in certain situations where the biological sex really masses is when we will know when that masses, it is not discriminatory to make those single sex of females only on to exclude all males. and that includes males with the protected characteristics, gender reassignment, and those who have agenda recognition certificate. now, it seems that this provision is simply not being used. we found in recent months that appears not to apply to women's prisons. it appears not to apply to female was in an h s. hospitals. it appears not to apply to changing rooms and girls toilets in schools. so when does it apply?
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i mean, this is an excellent question. when does they apply? and what keeping a close saw on all the issues raised by this topic, and no doubt they'll be more to come me. ah know when i would chose the wrong one, i'll just don't rule out the thing because the attitude an engagement equals the trail. when so many find themselves, well, the part we choose to look so common ground in this is bo bus. the one business show you can't afford to miss branch bore in
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washington. here's what we have. coming up. oil prices are on the rise ahead of an opec plus meeting this week, which will focus on the state of output straight ahead. we take a closer look at what the cartel may do as a member state warns of demand issue due to the delta vary, and us torres could soon be borrowed from the european union once again. now that the summer travel season is drawing to, annette will bring you the latest on the decision from brussel. then we had the world of regulation as some of the largest economies of asia are set to crack down on big business. later on, we take a look at the wave of anti trust issues we've packed. so today, let's get to it. and
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we lead the program with the future of oil production at the surge. in coven 1900 delta variant cases, way on demand. opec plus members will meet wednesday to discuss the cartels policy, including an agreed increase of 400000 barrels per day over the next several months . but co weights oil minister isn't sure the increase will be sustainable in the current climate telling reuters quote, the market. they're slowing since cobit 19 has begun its 4th wave. in some areas. we must be careful and reconsider the increase. this week's meeting is also the 1st in the united states called on the group to boost output to combat rising gas prices. but opec sources say there is no need to release any extra oil into the market to deal with those concerns. both brent crude and west texas intermediate hovered just above flat monday, but are still down from where they were just one month ago. due to those concerns that we talked about with the delta various for more on the state global economy. let's bring in octavio mirandi, ceo of optimist. l. l. c. always
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a pleasure. to have you on our tabio. i know that are we know that is to say that hurricane ida forced to shut down of oil production in the gulf of mexico, which had caused all prices to go up before the storm weekend. beyond that, what is the state of oil amid these increased cases of the delta? very well, i think the the hitting the gulf coast rapidly. right. there was a shut down oil production oil platforms in the gulf shut down. so there's a spike. the end of the oil prices due to that, but that looks like it's behind us now. it has weakened quite considerably. so there's no exc and the long term impact in terms of production. i think on land the, there's some power outages and that remains to be seen how that will unfold. but it's looking like there's some pretty severe power. outage is not going to hit the refining capabilities on land. and the gulf coast is a very, very big refining sensor. so what we like to see there is a burst of prices for the downstream product. so for gasoline for heating, oil for kerosene, thinks about sold. so crude oil seems to be a k,
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at least inheritance terms of either, but certainly the delta varies having a big impact there. lot of crude oil funds, wayne's transportation that was on the deltacare and the way on that was on line. seen cancellations and reco cancellations. having that, so that's gonna weigh very heavily on that. so we're already seeing the impact as you point out in early august. we were up about some type those of our that's come down with 20 percent. so it's weighing heavy already on in terms of oil prices and it took ok, class members, specifically the car out the fact that leader saudi arabia and the united era veterans to come to terms on this latest increase even with demand starting to weigh. do we expect the group to change its policy? come wednesday? i did it. they're going to change wednesday, but open house throughout the crisis throughout the kind of crisis manages our quote and production levels are very, very careful. closely. now back in april of 2020, we basically saw oil prices krazer over responding quite quickly by cutting and re
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slashing production closes. so they've managed the oil prices very, very carefully. and i think that on the very effectively, i would expect them to be looking at this very, very closely again to see the new flash production. again, i think the power to the risks look as if they are going to do that. so maybe not on wednesday, but certainly in future meetings, i would expect them to better have to consider that. and you think after they had such an issue coming to terms with that latest increase of $400000.00 barrels per day. and i know it with a lot of, you know, who got what and where to came from. but do you think that's going to take, make any issue for opec plus when they try to come to terms on maybe an agreement as you know the delta very, it continues. well, that's a very good question and i think is a little dancing and promising around people with before they reach any sort of agreement. and they make it seem from some sort of historic event. but it seems they do the things that they're in the, in the interest of the cartel ultimately. anyways, so i think they'll do this again and go through that process and they might be some theater back and forth in terms of fight between the u. e. in savvy, but ultimately i would expect them to cut the production again as we see sort of
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things slow down. once again, i want to take a look at kind of some broader economic news coming out monday as well. europe largest academy, jeremy reported its national inflation rate grew to 3.9 percent in august the highest level since december of 1993. while consumer prices rose 3.4 percent. i 13 year high central breakers are saying this is just temporary. i know where have we heard that before octavio. but is this all about supply chain disruptions in germany? what are we thing there? it seems to me that head of the right bank in 1923 and early 1923 said exactly the same thing. is that the way this is a temporary thing just before the country devolved into a state of hyperinflation. so i'm not, not so yes, the thing is temporary, but the, the european central banks pursued an unbelievable monetary policy. of course, the past 5 years basically yields on 10 year bonds have been negative since then. they've got positive for a short period time, but essentially negative for the past 5 years. that makes no sense. the common that
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is pumping a huge amount of money into the economy. and it's surprising that it hasn't more inflation already. so we're starting to see this inflation we are type, i didn't think it's going way. i don't think it's gonna be temporary. i think when for a long about of inflation for years to come out. and now, coming back to the whole more central bank news, the mass cheap economist told the financial times that if the u. s. federal reserve were to withdraw, it stimulates measures sooner than expected. it could have a huge impact on emerging market. even thing $4.00 trillion dollars could be wiped from global gdp if there was emerging market, where to face new waves of coven infections and the fed ramp down it's policy. what do you make of that assertion? well, i'm not aware in the clinical literature of a single pace of code being cured by monetary policy. my low interest rates. so maybe they're on to something that i didn't know. the real problem is, of course, economists get shut down important segments on work anymore. and it's hard to see
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how low interest rates actually address that. so i don't think it's going to work out this time i, i think low interest rates have their place perhaps in terms of policy instrument. but to think that you can weigh lay the impact of cobit by the loan straits. i just don't see how that supposed so remains to be seen. i doubt that's going to really help in any way meaningful able octavia moran, the ceo of oper miss l l c. thank you for your insight today. thank you. and after a summer of economic rebound for the countries of the european union, the block is recommending member states hall non essential travel from the united states. after it was added to the safe list in june, the decision comes at the delta very has spread like wildfire in the united states with the nation seeing the highest number of cases since january of this year. the news could come as a major blow to taurus related academy such as grief which saw 51 percent increase
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in taurus revenue in the 1st half of this year. but the u says the decision will not take away the quote possibility for members states to lift the temporary restriction on non federal travel for fully vaccinated travelers, the u. s. would not be alone in this travel band. however, as other nations, on the blacklist include israel, lebanon, and several baltic states that are not part of the apple and google are about to get hit with a whole new set of regulatory headaches as agent pacific countries, along with strayer, are rolling out new rules on competitive practices, less than a week after apple that it would allow app store developers to promote alternative payment methods to, to their users. south korea is point to end restrictions that crick say, harm competition. and australia is piling on the pressure by floating reforms for how to tackle payment systems provided by the likes of apple and google. joining us now disgusted by the co host, an investigative journalist, ben swan, ben,
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what are the accusations against these apps doors right now? yeah, well the accusations are actually international. right. and these accusations have maybe a lot of companies inside the united states, which is simply this that apple, google in their phone play stores. so whether it's the apple app store or the google play store, really control and monopolize the ability for creators of apps to be able to sell those apps or charge those apps back to customers without taking enormous amounts of profits. when apple k, for instance, they've been accused of taking as much as 30 percent of everything that a user sells up through their app to a customer, right? the problem is there's no competition in that space. meaning that if you're going to sell an apple app store, you will pay them their gas fee or you will not. so there, there's no way to get around that as, as you know, the creators, a fortnight down that are pretty, pretty heavily. so what that's left with now is a situation in south korea where basically the south korean government is looking
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at passing a bill that would make that illegal and would create more competition in the space by essentially saying that apple cannot force and google cannot force the companies that place apps on their phone to only use them as the payment processor and they would have the option of using other payment processors. so real quick, if you were to open up your app and you're going to purchase something, you would have options there of payment processes or choose from. and assuming here that this is how this all plays out, that would mean you would get different prices. because if you were able to get a cheaper rate than what apples charging as a game maker or an app maker, you would be charging less because you're passing less on the customer. so in that case, it would really devastate apples business on their app store. now that would be a huge change, but if south korea does pass this law, what kind of effects could we have in terms of a ripple effect? well, i think there will be a ripple effect. i mean, a lot of countries are looking at this right now. this is called the anti google bill, essentially and south korea right now,
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because it will hit the google play store very hard as well. but essentially, a lot of countries are looking at this because there have been a lot of questions about this anti competitive practices. and forcing certain app creators, as we mentioned, to utilize the apple or google payment systems. and again, if south korea before, with this other countries may say, well, let's just do the same thing. it creates more competition and less monopolization of these areas. and again, it would really be a huge blow to both of apples and google bottom line. well, better. and it's interesting because we talk about competitive practices, right? so if you're going to make the space more competitive, apple tends to say, well, that's going to devastate us, but what did that just require them to lower their prices in the end? sure, absolutely well, but the reason it would devastate them is because they charge enormous gateway fee, right? you're charging this, this huge fee in order for any app maker to be on your device, which they have to be able to be on. because if you create an app and you're not available on the apple app store, who's ever going to be able to use your app?
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so they charge these these unbelievable amounts to users and then if you don't pay it or if you do as epic games didn't fortnight, you try to go around them. they just take you off. so if you change the system for them, it's going to, it's going to cause more competition in the space. it would require that apple do 2 things. one that it treat its makers differently, and that'd be competitive in terms of the prices that it's offered. and it'd be interesting to see because we're still awaiting a ruling in the whole apple, an epic lawsuit on what that fortnight a lawsuit might bring about. now. meanwhile, ben, australia is cracking down on apple and google while it's what's happening there. yeah, so this is kind of similar in some ways essentially that apple and google wallet. so if you use apple app pay, you know, you go to a store, use apple pay, and you're basically treating with your cards like it's a wallet and apple's charging again, fees back to the merchant. every time you're using their, their apple pay, google's doing the same thing, you have
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a google while they're doing the same thing. and so again, with the argument here is, is that these amounts that they're charging are too high, and there's no competition. so that other wallet services should be allowed to be able to be available on these devices, which would be more preferential than to merchants. right? so if you are a merchant and you say all now they're going to pay with apple pay, i know what that means. that means i'm getting charged an additional fee by apple. well, in this case, you can fix that by creating a more competitive space. and what this really all comes down to all these stories come down to bring is the ability for consumers to have choices in these apps doors where they have not had choices in the past. and then it seems like what the australian government thing, as they started to look at this too with that this is a relatively new technology. it's been around in the last decade, but our regulation has not caught up to this at all. do we expect to see more of this elsewhere as we continue to see this kind of proliferate and you see google pay, apple pay, we pay all of those payment services becoming more and more commonplace where they
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will become more commonplace. it's far more convenient and australian lawmakers are correct when they say the laws have not kept up with this. but i think what it really is going to come down to is number one. can a lot of keep up? but number 2, when a country moves forward and establishes the precedent for how it's treated, it's very easy for other countries to jump on to that. so rather than every country trying to figure it out, all you need is one to figure it out. one, south korea, one australia to figure out, hey, this is a way to open up competition in the space and all of a sudden everybody gets in line. they don't need to reinvent ways to make it more competitive. they just follow the template that's being laid out. and it's kind of interesting that all these new technologies arise, they build the infrastructure in stores throughout the world. and yet nobody thought, hey, maybe we can figure out how to regulate this, how to monitor at boom, but it's been swan. thank you so much for following the story. thank you. and time now for a quick break, but when we come back, trying to clamp down, our big visit is rolling on if the nation has put the sharing economy in its latest
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crawford boom bus, christie, i is standing by to break down the latest measure that's going to break here, the number that the me, the, the the ah,
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me the welcome back as we continue to follow the regulatory landscape inside it looks like the so called sharing economy is the next area to face scrutiny. in recent month, beijing has taken steps to rein in key industries, including technology, education, and property, just the name of the view, china state administration. the market regulation posted on its website is looking at oversight in the sherry academy, including the use of bike sharing and cell phone charging station, 2 sectors that have become increasingly popular in the nation. meanwhile, and reporting quarterly earnings food delivery giant, my twan warned that it could be required to pay a quote,
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significant amount of interest. 5, due to this late it's cracked out, the s a m r launched an investigation end of the nation. 8 most valuable company in april, accusing it of forcing merchant to use the platform to me exclusively. the regulator also said monday, it would launch in another probe into my twan for not reporting an acquisition of bike sharing, startup mo, bike back in 2018. so what do these latest announcements mean for tech giant in the world's 2nd largest economy? well, let's bring it by co host chris, the i to discuss. chris, i want to start with this latest move to regulate the sharing economy. what are the problems here and what are they hoping to accomplish? well, i think by just calling it a sharing economy, we're actually limiting the scope of what this entire crack down really is. the whole cart down is on tech by saying it's just tightening of the sharing economies . we think of stuff like bank sharon wright, sharon,
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portable power bank like you said, but it goes so much, much deeper than that. a sharing economy is basically any platform which allows consumers to share access to goods and services. and this includes things like education, real estate, lifting, buying or selling goods, sharing information on social media and interacting with users through likes. all of that is actually part of the sharing economy because we're putting things out online. we're sharing personal data. so it's really just a crack out of all of tech. the problem that they're trying to fix are quite challenging and ranges from issues like anti trust and anti competitive practices. like what ben was say, unfair pricing, such as algo is changing pricing on goods and services. very similar to how the us airlines change their pricing on tickets based on how often you look at when you look shopping for tickets and buying tickets. and also tough working conditions for workers. and then the issue of cybersecurity and data privacy protection for consumers is also going to be a very big one in this age of big data. so there's this aspect that aging is doing all of this for the public good,
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and it's beneficial for the long term sustainability and viability of the economy. because if big tech actually scans all the, use it out of money with its pricing models and cautious all the new innovations and start up without competition, then wouldn't have any growth left. the engine needs to continue burning and the way it's burning right now is unsustainable. because it'll burn itself out by getting too big. but then ultimately, the paging cracked on on private business is about control. the main priority is about preventing behavior amongst private companies that could in gender, more independent and potentially nonconformist activities, which undermine staging. and chris, it seems like we go from one big tech company in china to another to you know, it was ali baba was the focus. then it was d d for quite a while. it seemed like they were the focus, obviously tick tock with the focus here from the united states. and then my twan. now it seems to be a big focus. they're saying they're prepared for these anti trust. find to come up
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as it's dealing with at least those 2 prob, but as has been the case with many of these chinese tech companies, it says it's ready to quote, make changes to a business practices and or be subject to a significant amount of fine. what is the take away from the specific might one situation the take away from all of this basically is that no one is safe and it's better to be friends and comply with the government than to try to find loopholes and dodge these and pending changes in the tightening landscape, it's very different than the attitude of big tech, like google and facebook here in the states. we've had 5, i've been levied on them. that's been absolutely nothing, merely pittance and an inconvenience for them and they pay it and they're going to continue to operate as they please by saying, oh my bad, i'll stop doing that or i'll change my ways and spend some division in another jurisdiction while continue the acting practice in china though that unfortunately will not fly because while they say that companies like may twine and others will be subject to significant find, find that the least of their worries. if it was just a fine,
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then may turn on ali baba. they will continue operating as they please, but no, the real threat is a forceful government crackdown that will hold all of company operations. the government in china has a hand and all these tech babies and can shut down certain divisions. crack down on them may basically make operating a legal nightmare and eventually drive it into the ground. like what happened to dd . the government flexed and temporarily band dd from the app store. how was an app supposed to work if it gets banned from app stores? so it's threats like that for compliance on companies and. and so it's better to make friends, the government be proactive and the change that they want to see and hope that they survive this business climate. so authorities have now issued warnings and they're giving these firms a chance to fix their problems head on instead of launching official investigations . and christy, we've heard quite a bit about the billions lost in stock for tech companies since all of this regulation crackdown really started. but tech companies trading in hong kong were
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up over one percent on monday. our investors feeling less cautious despite the crackdown right now. no, and rather so quite cautious and i wouldn't say that they're feeling better, but the opportunity is there for technical traders there to capture a little bounce. the tax sectors have been absolutely decimated for the past months . so a lot of these companies valuations have been shot, making it very appetizing for these value investors who want to go bottom fishing. so basically all the tag darlings are on sale. and while there is some risk that our valuations and profits will never be as high as the pre regulation era, these investors are betting that these companies will still be valuable for the next decade or so to come. shares of alibaba fell nearly 3 percent on friday after losing 15 percent this month alone, making it really attractive. the e t f. that truck chinese a d r companies have lost 26 percent this quarter amid this regulatory pressure. so while there still is a lot of risk, as regulatory and political, climate shifts are unpredictable and subject to change as heavy degree of
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uncertainty. and investors are betting that these tech companies, they will figure out how to navigate this new climate. boy, it's very interesting because every we've saw the same thing, not to say the same thing, but remember there was a big anti trust criticism of microsoft and you look at where they are today as far as doc practices versus where they were in the 1990 things have obviously blown up quite a bit since then. so we're going to continue to keep an eye on that christie. i thank you so, but for problem and you learn so much insight into this story that it could be kind of hard to understand if you're not really familiar with the chinese economy. boom bus. christy, i thank you. thank you. and finally, as we generally talk about the successes of the private space industry, well that's not always the case. rocket builder astrid space on saturday once again failed to reach orbit as it fired off a test payload as part of a program for the u. s. space force. now as you can see here in this video, a lift off of that lift off the rocket, appeared to move sideways rather than straight up. and according to the company, c,
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e o chris camp, one of its engine shut down about one second in the launch, roughly 2 and a half minutes into the flight, the safety crew was forced to issue and all engine shut down, causing the rock to stall and fall back to earth, the company says there were no injuries or damage to any property astra added. they learned a lot from the test but gave no time life on finding out what exactly went wrong. now meanwhile, in the world of space tourism, we hear a lot about the likes of jeff bay. those is space origin and richard branson's, virgin galactic. but now the marketing arm for the russian space agency is looking for potential customers to take a trip to the international space station. not much information is provided regarding the price or what exactly the trip would entail, but it would appear that the flight would take place on a soil use launch vehicle will bring you more details on that as we get them as well. and that's it for the time you can catch boom bus on demand on the portable
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tv app available on smartphones, tablets, google play in the apple app store by searching portable tv. portable tv can also be downloaded on newer model family, smart tv, roku devices, or simply check it out at portable dot tv. will see you next time. ah catrice drugs are essential for millions of patients or are they? they want that pill that they hope will take care of their problem thoroughly and rapidly in the short term. they really work. the problem is in a long term, they're mostly disastrous. suddenly stopping a drug can cause withdrawal symptoms more serious than the condition that was meant
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to treat instead of beneficial effects of these different medicines, any up to something wonderful, very often they're harmful effects and up to something terrible can bill so of all ills or are we trying to mitigate life itself. i just think i was and i was just scared scare a little girl. the 24. and like i didn't have to be so complicated. celebratory gun fire rings out across cobble as americans 20 your presence enough gamma stand comes to an end. the last us evaluation flight left the country in the early hours of the 31st deadline day.

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