very dramatic development. only personally, i'm going to resist. i don't see how that strategy will be successful, very political time. time to sit down and talk they have paper. well they have no bitcoin as a matter fact, they shut their bitcoin mining down. not sense. they burg, their treasure of late 500 years ago under the main dynasty as a country made your bone headed and stupid mistake. this is boom, but the one business show you can't afford to miss branch a bore in washington. here's what we have coming up. oil prices are on the rise ahead of an opec plus meeting this week, which we'll focus on the state of output straight ahead. we take a closer look at what the cartel may do as a member say, warns of demand issue due to the delta vary, add us torres could soon be borrowed from the european union once again. now that

the summer travel season is drawing to an end, we'll bring 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 issue. we've packed so today, let's get to it. and we lead the program with the future of oil production at the surge in coven 1900 delta, various 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 curve. climate telling reuters quote,

the market. they're slowing since cobit 19 has begun. it's 4th wave. in some areas, we must be careful and reconsider this 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 in 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 of global economy . let's bring in octavio mirandi. he ceo of optimist. l l c. always a pleasure to have you on octavio. i know that, or we know that is to say that hurricane ida, for us to shut down of oil production in the gulf of mexico, which had caused a price to go up before the storm. weakened beyond that, what is the state of oil amid these increase cases of the delta barrier? well, i think it was either hitting the gulf coast rapidly, right?

there was a shut down oil production based, all the 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 i did as we can quite considerably. so there's no ex, me 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 salt. so crude oil seems to be a k, at least inheritance terms of either, but certainly the delta variance having a big impact. bear in mind a lot of crude oil funds, williams transportation that based on the delta vary. and so the way on that was on line seen cancellations, and reco cancellation having that. so that's going away very heavily on that. so we're already seeing the impact as you point out in early august. we were up about some type of our that was come down was 20 percent. so it's weighing heavy already

on in terms of oil prices. and it took ok, class members, specifically the cartels de facto 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's going to change it wednesday, but open has throughout this crisis throughout the codes, crisis manages our court and production levels are very, very careful. closely. now back in april of 2020, we basically saw oil prices krazer open responded quite quickly by cutting and re slashing production closes. so they managed the oil prices very, very carefully. and i think that on the 30 effectively, i would expect to be looking at this very, very closely again to see nice slash production. again. i think the power to them is look as if they are going to do that. so maybe not on wednesday, but certainly future meetings, i would expect them to very 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 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 continues, well, that's a very good question and i think there's a little dancing and promising around people with before the meetings sort of agreement and they make things from some sort of historic event. but it seems they do the things that they're in the, in the, in the interest of the cartel ultimately. anyway. so i think i'll look at this again and go through that process. and there might be some back and forth in terms of fight between the 5 year. but ultimately i would expect them to cut the production again as we see some things slow down. once again, i want to take a look at kind of some broader economic news coming out monday as well. europe's largest economy. 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 seeing there? it seems to me that head to the right bank in 1923 and early 1923 said exactly the same thing is that there is a temporary thing just before the country devolved into the state of hyper inflation. so i'm not, not so yes, the thing is temporary, but the, the european federal banks pursued an unbelievable monetary policy. of course, the past 5 years basically yields on 10 year bonds have been negative. since then. i've got pauses for a short period time, but essentially negative for the past 5 years. that makes no sense. he coma to us, whoever that is pumping a huge amount of money into the economy. and it's surprising that it hasn't. it's more inflation already. so we're starting to see this inflation we are type i didn't is going way i don't think is going to be temporary. i think when for long about of inflation for years to come and now come back to the whole more central bank news. the mass chief economist told the financial times that if the u. s.

federal reserve were to withdraw its stimulus measures sooner than expected. it could have a huge impact on emerging market. even thing $4.00 trillion dollars could be wiped from global g d p. 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 case of code being cured by monetary policy. for my low interest rates, so maybe they're under something that i didn't know if the real problem is of course, economists get shut down important segments on work anymore. and it's hard to see 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, the impact of cobra by the learning straits. i just don't see how that's possible. so remains to be seen. i doubt that's going to really help in any way meaningful

able savvy. i'm around the ceo of oper miss l l c. thank you for your insight today . thank you. and after a summer of economic re about it 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 with 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 rely on academy such as grief which saw 51 percent increase in taurus revenue in the 1st half of this year. but the u says the decision will not take away the quote possibility for member state 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 set, it would allow apps or developers to promote alternative payment methods to, to their users. south korea is point the end restrictions that crick say. harm competition and jelly 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, what are the accusations against these apps? stores right? now, yeah, well the accusations are actually international, right. and these accusations have made by a lot of companies inside the united states, which is simply this, that apple, google in their phone place 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 is no competition in that case, meaning that if you're going to sell an apples app store, you will pay them their gas fee or you will not. so there, there's no way to get around as, as you know, the creators, a fortnight found that out pretty, pretty heavily. so what that's left with now is a situation in south korea where basically the south korean government is looking 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 left on the customer. so in that case, it would really devastate apple 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 in south korea right now, 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 the 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's 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 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? 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 offering. and it'd be

interesting to see because we're still awaiting a ruling in the whole apple and 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 card like it's a wallet and apple's charging again, fees back to the merchant. every time you're using you, they're, they're apple pay, google's doing the same thing. you have a google wallet, they're doing the same thing. and so again, what 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're 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 additional fee by apple.

well, in this case, you can fix up by creating a more competitive space. and what that's really all comes down to all the stories come down to brand is the ability for consumers to have choices in these app stores where they have not had choices in the past. and then it seems like what the australian government was saying as they started to look at this to, was that, you know, 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 pe, apple pay, we pay all of those payment services becoming more and more commonplace where they will become more commonplace. and it's far more convenient and australian lawmakers are correct when they say the laws have not kept up with us. 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 been laid out. and it's kind of interesting that all these new technologies arise, they build the infrastructure in store throughout the world. and yet nobody thought, hey, maybe we can figure out how to regulate this, how to monitor at boom bus, been swan. thank you so much for following the story. thank you. and time now for a quick break, but when we come back, china clamped down on the big visit is rolling on if the nation has put the sharing economy in its latest crawford boom bus, christie, i is standing by to break down the latest measure that's going to break here, the number, the, the, the me,

the only one main thing is important or not as an internationally speaking that is, that nations are allowed to do anything, all the master races. and then you have the mind, nations who are the slave, the americans, rock, obama and others have had a concept of american exceptionalism. international law exist as long as it serves the american interest. if it doesn't, it doesn't exist. i turning this russian into this dangerous man that wants to take over the world. that was a conscious strategy. so some of it in your own. i english v i v. i not leashed it off in one. interpret block nato. it's our we move east.

the reason us hedge emily, it's dangerous, is it the, the sovereignty of the countries, the exceptionalism that america uses and its international war planning is one of the greatest threats to the populations of different nations. if nato disbanded shareholders in the united states and elsewhere in large companies would lose millions and millions or is business and business is good. and that is the re, the a. what we're facing, which is fascist. the psychiatric 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 the long term, they're mostly disastrous. suddenly stopping a drug can cause withdrawal symptoms more serious than the condition that was meant

to treat instead of the beneficial effects of these different medicines. any up to something wonderful, very often they're harmful effects and up to something terrible can pills. so of all ills, or are we trying to mitigate life itself? i just think i was like i was just scared, scare a little girl. the 24. and like i didn't have to be so complicated. join me every 1st day on the alex salmon show and i'll be speaking to guess in the world, the politics sport business. i'm show business. i'll see you then 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 of market regulation posted on its website. it 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, significant amount of antitrust $5.00. due to this late it's cracked out. the s a. m. are launched an investigation into 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 and another probe into my twan for not reporting an acquisition of bike sharing startup mode 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 christy, i want to start with the 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 cracked on 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 sharing, right, sharing portable power banks, 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, 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 will burn itself out by getting too big. but then ultimately the beijing 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 beijing 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 then it was d d for quite a while. it seemed like they were the focus, obviously tick tock with a focus here from the united states. and then my twan now is seems to be a big focus. they're saying they're prepared for these anti trust fine to come up 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 its business practice and or be subject to a significant amount of fine. what is the take away from the specific my 20 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 on facebook here in the states. we've had 5, i've been levied on them. that's been absolutely nothing, merely a pittance, and an inconvenience for them and they pay it and they're going to continue to operate as they please by saying 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 fine, 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 halt all of company operations. the government and china has a hand and all these tech babies and can shut down certain divisions, cracked down on them, may basically make operating a legal nightmare and eventually drive it into the ground. like what happened to be the government flexed and temporarily ban d

b from the app store. how an app supposed to work if it gets banned from app stores . so it's threats like that, that force compliance on companies and. and so it's better to make friends with the government, be proactive in 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 for a chance to fix their problems head on instead of launching official investigation . and christy, we've heard quite a bit about the billions lost in stock for tech companies. since all of this regulation cracked down really started, but tech companies trading in hong kong were up over one percent on monday. our investors feeling less cautious despite the crackdown reno know about that. are still 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 tech 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 there valuations and profits will never be as high as a 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 of that truck chinese, 80. our 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 shift are unpredictable and subject to change as a heavy degree of 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 etc 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. kristi,

i thank you so much for probably, 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 academy boom bus, christie, 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 and 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 ceo 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 an 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 bezos, his face origin and richard branton, 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 this time you can catch boom bus on demand on the portable 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, samsung smart tv, roku devices, or simply check it out at portable dot tv. will see you next time.

ah, only one main thing is important for not as an internationally speaking that is a nation's pickups. are allowed to do anything, all the master races, and then you have the minor nation. so other slaves, americans, rock, obama and others have had a concept of american exceptionalism. international law exist as long as it serves the american interest. if it doesn't, it doesn't exist. like turning those russians into this dangerous go. you man, that wants to take over the world. that was a conscious strategy. so some of it on your own, i v i v. i not leashed off in one tablet, block nato to it's our we move east. the reason us had gemini, is a dangerous is the lie, the sovereignty of other countries,

the exceptionalism that america uses and its international war planning is one of the greatest threats to the populations of different nations. if nature, what is founded, shareholders in the united states and elsewhere in large companies would lose millions and millions or is business and business is good. and that is the reality of what we're facing, which is fashion. ah, i use

the use or financial survival guide. let's learn about be allowed. let's say i'm a joy and you're, i'm grief based of the site. walk 3 prod. thank you for helping with joy. that's right. fell out that way. the historic images from the night just gone and car ball is the last us plane leaves up in the hands of the very people washington promised to over throw 20 years ago. despite the chaos, the casualties and growing calls for the us defense secretary to resign. the by.