this is the oecd trying to get an international tax regime in place. you're watching worklife.s the us and china meet for talks ahead of a new wave of tariffs next week iam going i am going to let you read that out. what is it? kefir, miso and kombucha — these are all fermented foods and drinks that have been around for centuries — but demand for them has spiked in recent years. you can tell that i don't consume them! the reason? well, it's supposedly packed full of gut healthy bacteria. butjust how essential are they to our overall wellbeing including mental health? well today is world mental health day and egon cossou spoke to england rugby legend jonny wilkinson who's opened up about his struggles with mental illness. and how his diet has ended up helping him. towards the end my career i was fascinated with this idea of realising i had gone down a route where i was desperate to find what i was capable of and yet i'd fallen into the trap of just trying to almost accrue, i guess, trophies and recognition and i realised i was going the opposite direction. i realised at the same

the united states is one of the only oecd countries -- i think the only oecd country that does not haveational privacy law. when you look at, you know, the language and the way a lot of silicon valley companies talk about themselves -- they say we're a service, this opt in, terms and conditions, all this stuff, get when you look at the types of people who work at the company, right, they are called an engineer or architect, right? they build ecosystems and environments. these are things people are going into. these are architecture. when you look at how we regulate physical architecture or when you look at how we regulate physical architecture or ngineering, where if you build a building without fire access and say it's ok because people opted into my building, they walked in and there was a book of terms and conditions over there, and if it burns down, that was their choice -- people would not stand for that. i think one of the things i hope people, particularly lawmakers if they read the book, one of the takeaways is we need to really understand what is social media? hat are these pla

it would seem the oecd is unveiling a tax overhaul that will squeeze more money from big companies.on this? i have interviewed people for years about the fact that we cannot come up with an international solution on this problem. that is an important point, very low on detail. the comments under this ft story when you scratch the story, there is no harmonisation of taxation. they are fiendishly complicated. these tech giants bring ina huge complicated. these tech giants bring in a huge amount of income for these companies and certainly some of the countries, and indeed these tax havens, very, very complicated. step back and is interesting, we talk about trade tensions, trade wars, a great deal of pressure in the media, a huge amount of inequality. this does seem to be beginning to recognise that this is a problem that needs tackling. the european commission has already had a go, hasn't it, and said,, ireland was giving companies like apple illegal state aid. action is being taken on a localised level. the question is whether there will be an international answer to this. they are gl

the fa ct but it still doesn't address the fact that we are still one of the highest paying in the oecdes, are going back to work as mothers at a higher rate than ever before, but it is still probably costing us more than ever before. so how much money we are actually bringing home is also a key thing. but the proportion of women, of mothers in employment, isjust going to go up and up and up. because more and more women are getting degrees now, and that seems to be the link. the higher the number of mothers with degrees, the more likely they are to work. and then maybe it makes sense for them to go back to work even if childcare costs are high. donald trump has cancelled subscriptions to the new york times and washington post, stories which ran in both papers, which he would know if he still read them. perhaps he read vanity fair, which also ran the story, saying angry little man cancels newspaper subscriptions. it is certainly one way of dealing with what he says of the free press, the enemy of the people. just imagining they are not happening. apparently his preferred read of the day

chile is the most unequal out of all the oecd countries. it is ranked alongside mexico and above the u.s. in tererms of income inequality. in addition to measures addressing that, the government says it is working to repair infrastructure damaged during the protests. supermarkets reopened after days of unrest. >> a landmark trial focused on climate change kicks off inin te u.s. exxon mobil is accused by the state of new york of lying to investors. governments try to do more to combat climate change. exxon says the e case is politically motivated. the trial is expected to last 13 days and will include testimony from former ceo and secretary of state rex tillerson. controversy is right in south korea. that someout an ad felt mocked forced labor victims. it says it is impossible to forget that memory. last year, south korea's highest court called on mitsubishi to compensate wartime forced laborers. calls have beenn echoed followig the new ad. they are looking down on korean people. they are making jokes and being sarcastic when they should be

early this month, the oecd revealed a plan where governmements could tax corporae profits, w whether- regardless of where the corporations are physically located. that proposal is on the agenda today in washington. some progress on key points of the deal is anticipated, but governments are far from a final agreement. that is s not expected untilil t year. finally, the national basketball association is still t trying to recover from m controversy in china. chinese tv dropped coverage of tv games after the general manager of the houston rockets tweeted expressing sympathy to the protesters in hong kong. in an interview, financial fallout for the leak has been substantial. there has also been calls for the nba to fire the rockets' gm. upsety, many chinese fans at the nba, others saying the league is not enough to protect the free speech. >> this s is not a really a surprise, given that china is not known to respect freedom of speech. >> t the nba has said by having basketball there, it will change things, and we a are more complicated today. thank you for the update. thank you for watc

highly profitable brands like those in luxury goods or automobile the tax proposal coming from the oecd winners and losers european companies would be better to earn from sales on their companies. likely hurt to be ireland and switzerland. back to you. >> dee, i guess the most significant development of this is it's a united group of countries that are proposing this, the oecd, rather than france or the uk individually introducing some new tax which looks like it's specifically focused on u.s. tech companies and then becomes a bit of a quid pro quo type trade war where if this comes together and is accepted by all thenations as one, it's pretty hard for anyone to push back on it. >> absolutely, the french digital tax was problematic because some in the u.s. felt it discriminated against tech companies. it draws on some u.s. suggestions. it doesn't just go after tech. they would be highly affected. it goes after luxury brands and cars as well so this is more likely to get support, but we're still a ways away from this being passed and having any kind of cohesive global digital tax. >> de

when i look at a lot of the macr indicators, oecd, lean economic indicators have rolled ovth. i prefer sectors more so an industrial. 're defensivelyonposi. until those indicatorsiz stabile, i'd avoid industrials. >> reporter: other investors se oprtunit >> i think you have to think about industrials as being the canary in the coal mine for really all of next year. oit's onethe only portions of the s&p 500 where we're expecting positive earnings this season. the s&p is really weighed pretty heavily down. >> reporter: as big manufacturers report earnings,a olders will be listening for any commentary regarding the potential between the u.s. and china over tde whether that's a sentiment. for "nightly business report," i'm seema mody at the new york stock exchange. >>> halliburton sees more cost cuts coming. the oil field services company is t looking combat slow demand from its north american shale drilling whi helped cause a decline in expected revenue. halliburton d d match the earnings estimates. it rose to 61$1 cody is exploring options and possibly selling its beay products

the funds to whether a brexit dome that set to his island hard according to the oecd aside from the u. k. irereland will be t the ecoconomy l last affectcted by brexit. this because of i its close trarading relationship with its neigighbo. ireland's economic social and research institute says no deal could cost eighty five thousand jobs and plunge economy into recession. but this emergency fund would mean at dublin borrowing mall in a country still recovering from the two thousand and eight financial crisis. with the national debt is the highest per capita in europe. ninissan h has picked aw chief executive will be facing an u up hill battle to rerevivee troubleded carmaker makoto cheetah was the head of the company's chinese operations he'd'd worked extensively with its french partner rando. about scene isis good news for imimproving the alliance between the two firms that relationship has been on the rocks after last year's shock arrest of its architect carlos ghosn on allegations of financial misconduct which he denies. boss mr teeter will be dealing with the slumping profits at ni

countries that meet the standards that are considered developed countries an organization called the oecd which is the club for developed countries with rules based on income and production. but first of all how the united states compares to all countries and then all developed countries. the blue line is the average. the green is the median and the red is the united states. so more than half of the countries around the world have a higher homicide right - - rate united states. a couple things to point out people think murderers and homicides are the same thing. they are not. it makes a difference in these graphs. the big difference homicides are murderers and justifiable homicides it's not clear why you would want to lump them together justifiable homicides are cases where a police officer is threatened by a criminal and has to kill the criminal or a civilian uses a gun in self-defense. the united states has a lot more justifiable homicides in other countries. that would lower our rate by 20 percent from what we have and would make a significant difference. the vast majority of countries

my team also makes a second web application, but that's only for the oecd staff and leasing agents, so the public does not see that. but this is to make sure rules are followed fairly. i'll go over those a little bit. the view on the slide right now is if you go to dahlia and you click the rent button, you'll see a list of the open listings. open meaning they're currently taking applications. this is an example of one. this is where somebody who is looking at dahlia would understand the priority units in that building. so if you look at the slide, this unit has priority units for vision and hearing impairment and mobility impairment. so the person who is seeking housing would want to go down each listing and would have to look to read for that. and then if that person decides to click to learn more about a listing, they're able to go here on the listing view where you get all the information. they can look to understand the number of units in the building that are -- that have mobility impairment features and the number that have vision -- we lost our connection here for a second -- vi

it has been in the last few years a quarter of the u.s., a third in the oecd countries, and this willrther signal that we don't intend to build the infrastructure necessary to allow our oil and gas to be sold to overseas markets. justin trudeau has a huge problem. he spent $4.5 billion buying transmountain. i don't see how he will say he will not go ahead. on the other hand, he is desperate for a lifeline, so with all the other parties adamantly opposed, i'm not certain what he will do. this is not good news for energy development. furthermore, not good news for national unity. amanda: do you expect a reaction in the dollar? joe: i don't know if it will be quickly, but it is hard to believe it will not have an impact on the dollar. shery: joe oliver, thank you so much, former canadian finance minister. we are now hearing from the ceo of boeing speaking in a message to employees, saying the company is deeply committed to fully cooperating with the government and is making steady progress on the 737 max. this as we see boeing experiencing its worst day since 16, revelations of instant m

a few years ago, one committee, actually bernie was on that committee, we had a guy from the oecd, and my bernie isn't as good, but i work with bernie a lot, so bernie asked, i suppose this is about the cost of college here, one of the reasons that we are falling -- well, how much does it cost to go to college in say, germany? the guy says, well, in germany you go to college for free. how much does it cost in france? he goes, also in france you pay nothing to go to college. well, how about sweden? in sweden, they pay you to go to college. [laughter] mr. franken: so, we have to do something about the cost of college. when i was in the senate from my staff would not let me do impressions of my colleagues. is there anyone here from my staff? good. ok, so i met chuck grassley my first day in the senate, and we got on the subway sitting across from each other, and chuck said to me, you look like you look on tv. i said, well, there is a reason for that, but a lot of times people say i am shorter than i look on tv. he said, guess what they say about me? i said, that you are taller than you lo

the united states is the only oecd governing -- company -- country does not have a governing law.inat the the way that a lot of silicon valley companies talk about aemselves, they say we are service, opt in, terms and conditions, but when you look at the types of people who work at the company, they are called an engineer, architect. they build ecosystems. these are things people are going into, and when you look at how we regulate physical architecture or engineering, where if you build a building without fire exits and said, people opted into my building, they walked in and there was a book of terms and conditions and if it burns down, that was their choice. people would not stand for that. people,he things i hope particularly lawmakers if they read the book, one of the takeaways is we need to understand what is social media? what are these platforms? max: we have 2020 elections coming up. the data that was at issue with cambridge analytica, is that data still around? it could come into play again four years later? how worried should we be about foreign interference going forwar

the united states is one of the only -- i think the only oecd country that doesn't have a national level law. when you look at the language and the way that a lot of silicon valley companies talk about themselves, they say it is opt in, we are service, terms and conditions, all of the stuff. yet when you look at the price of the people working at the company, they are called engineers and architects, they build ecosystems. these are things people are going into. architecture. when you look at how we regulate physical architecture or engineering, if you build a building and you were an architect and you built it without a fire exits but you said people opted into the building and so it is ok and there is a book of terms and conditions over there, if it burns down, that was their choice, people would not stand for that. i think one of the things that i hope, particularly lawmakers if they read the book, one of the takeaways is we really need to understand what is social media? what are these platforms? they are architectures and they need safety standards. max: we have the 2020 elections c

the united states is one of the only -- i think the only oecd country that doesn't have a national levelaw. when you look at the language and the way that a lot of silicon valley companies talk about themselves, they say it is opt in, we are service, terms and conditions, all of the stuff. yet when you look at the price of the people working at the company, they are called engineers and architects, they build ecosystems. these are things people are going into. architecture. when you look at how we regulate physical architecture or engineering, if you build a building and you were an architect and you built it without a fire exits but you said people opted into the building and so it is ok and there is a book of terms and conditions over there, if it burns down, that was their choice, people would not stand for that. that i one of the things hope, particularly lawmakers if they read the book, one of the takeaways is we really need to understand what is social media? what are these platforms? they are architectures and they need safety standards. max: we have the 2020 elections coming up y

the dues that we pray to the united nations and by the way, let's reduce what we pay for the ims, oecdare corrupt international organizations that have little impact on peace and prosperity. >> firstly would we not call this a bailout because united states has not paid yet, this is according -- >> there still 381 million and back payments, 674 million due this year. moving that aside, to your point saying and lacks value, what about the security council and sanctions. if the united states does not pay, i question to scott, would that take away from the dominance of the united states, let's say china fade paid more. >> let china pay for it. i don't think that would be about thing. i don't think they will do it, here is the other thing, china is a problem with respect to what steve said, they have been gaming the world bank and other countries and freeloading and getting through all that payments and everything else. so they should pay more and if they want to pay more let them. are any of these concerns if these countries start paying more and more in the united states start paying less

when i look at indicators, oecd, lean economic indicators have rolled over.n per unit risk basis, i prefer other sectors more so than industrials. we're still very defensively positioned. until those indicators stabilize, i would avoid industrials. >> ideas of what would happen for the industrial space if a trade deal does come together between the united states and china. >> i think there is a lot of hope that that will be more of a buoy for earnings. you have to take a picture of what do earnings look like and a trade deal. if both things come out positive, i think it's a great play. >> thank you for joining me today. for more etf edge, sit tight, our live show online starting at 1:00 p.m. eastern. we'll lkta to blackrock's head of investing. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ >>> we're back. many point to buybacks. our next guest says they don't work as well as many investors think they do. the ceo of levin capital strategies. welcome to our show. >> great to be here. >> you have been thinking a lot about this. you would agree that buybacks have had a tremendously stimulat

. >> the whole purpose of the oecd, we believe there are a lot of issues that have to be dealt with andave to be negotiated, have to be fixed. about howon really is the engagement is organized. how it produces the best result. for example, we created a global forum on excess steel capacity. that is up and down. it was a forum for dialogue. now we have to see whether we renew it, but that is a very good example. .ut of the g20 meeting how do we engage? how do we organize the conversation? even the negotiation. how was your conversation with chancellor merkel? a lot of people are calling for fiscal stimulus to stem the manufacturing problem we have. >> i call that group therapy. this is the 11th time we have done it. she always gathers these international organizations around her. we are very candid. she asks all the questions in her mind and we tell her what we think. it is a very good give-and-take. it is a very good exercise. the question of the german economy, of course, we hit to negative growth last quarter. in october.dy we had the third quarter happen. we will see in october, nove

economic forecasts probably won't get that much worse from the oecd. fully well be it is not priced for the markets. this is a deterioration on the geopolitical fund -- front between the u.s. and china. there is a long list of places. people were to worry about politics affecting markets, there is a long list just this week. saudi arabia reminded us conflict with iran could be destabilizing for the global economy as well. every direction, their world kinds of issues, not to mention brexit remains unresolved. there are things to worry about. heavilyout will weigh on markets over the next three months. anna: thanks very much. mark cranfield joining us from singapore. you can join the debate on today's question of the day. will politics outweigh economics in the fourth quarter? reach out to us and the markets live team. ib+tv on your bloomberg. remember, bloomberg radio is live on your mobile device or on dab digital radio in the london area. ♪ matt: welcome back to blooper markets. this is "the european open." live pictures of hong kong. china celeb

. >> the united states is, i believe, the only oecd country without a trail or national-level privacyd, you know, i think there's a lot of clues in the language that, you know, facebook and other big tech companies, you know, use when they talk about who works there, engineers, architects, right? these aren't services. these are architectures that they're building that people live in. >> uh-huh. >> our lives are lived online. and when you think about, you know, what do other engineers and architects do? if you had a building, right, and an architect built a building without fire exits, we wouldn't tolerate that architect saying, well, there's terms and conditions, 20,000 outside somewhere before you walk into the building. >> you'd say, where's the fire exits? >> if the building is burning down, well, you agreed to the terms and conditions. >> yeah. >> we would not tolerate that. so, you know, i am worried that, you know, one of the most important democracies in the world, american democracy, has relegated the safety and integrity of its elections to a private company that doesn't see

international community as part of ukraine with the breakup of the soviet union under the accords in the oecd, and under the budapest memorandum signed in 1994. i'll come back to the budapest memorandum in a minute. the west, in my view, should never recognize what is widely considered the illegal annexation of crimea. moreover,, we should be paying more attention to the situation in crimea with the human rights conditions are absolutely appalling. where crimean tatar school been victimized many times over the decades are being victimized once again -- tar tars have been victimized -- mr. putin in my view bears responsibility for the over 13,000 ukrainians killed in this conflict, some 2 million who have been displaced, enormous economic damage and i would argue the shootout of the malaysian airliner in july 2014 july 201h 298 people were murdered. in my view, mr. putin has the blood of ukrainians and others on his hand for what he has done here. and last point to start things to set the stage, i haven't seen anything that mr. putin has done that deserves an easing of sanctions, of membership

the oecd emerged and they have distribution and a constant tradeoff equity high marginal tax rates cannce for investment economists think there are ways to tax some wealth na do not distort growth the monopoly and market factors. research is mixed. overall, wealth taxes view pretty negative. one suggestion has a lot and we're talking about this reducing loopholes that exempt or reduce taxes for the wealthiest the income is seen as minimal and even positive that they reduce it. >> excellent question. >> why have we not talked about it more? >> the idea that you have to rewrite this and create new taxes when you can fix the loopholes in the existing system >> the conservative on both sides. the tax cuts and you don't have any of the democrats just tax reform. the concept when you reduce economic distortions you get more bang for the buck >> they're talking about stag guard ip comes for the average household. you don't want a huge split. >> they've been climbing after a long time of being sideways. >> income inequality is seen as something bad for growth bad for democracy. you want to red

u.s., oecd nations in developing countries and focuses her research on the presidential nominating system and has worked on many presidential campaigns. you just might tell us a bit about how in the world is this going to affect the nominating process in the other party from the president. taylor is aaret fellow in government studies at the brookings institution. she is also senior editor and counsel in law and was previously chief democratic council and deputy staff director for the senate foreign relations committee from 2015- july, 2018, and it's great to have you with us. she will tell us everything senators are privately saying about the choice they have to face today. i want to ask what i think is the obvious question. this seems to have moved very, of two and a halfs weeks ago. many of the leading folks on the democratic side who were not for impeachment, including the speaker of the house, were not for impeachment and then the story about ukraine and what president trump said in that phone conversation broke. we were at a very different place. perhaps i can go straight down the li

the oecd secretary-general. pressure with a benchmark set for a third weekly drop. 10-year back at levels not seen since august. this as traders digest inflation data and what it means for boj policy with governor to committing to massive easing. people looking at buying -- 30-year yield's not far off. topht division earnings on today. can the company fight off market share after it was among those looking to expand? this is bloomberg. ♪ sophie: this is daybreak asia. shery: let's get a look at the business flash headlines. optimistic signs in the u.s.-china trade talks. it is apartment -- it is important for the economy of the world. the online finance house said china's domestic economy is resilient. demand for credit remains strong. the ceo added china has important worldwide ties being pressured by the trade war. healthy or sustainable relationship of that economy would be very important. seeing a good sign on that last trade talks. we are happy to see that. company losing its sweet spot in china. first quar

that said, you know that i'm a trustee at the world economic forum and the head of the oecd, i saw himobal growth rate from 4% to 3% because of what's happening with this trade situation. so he said, and i agree with him, if we resolve the trade situation, global growth will resume its climb. so that would be very exciting. maria: when there's uncertainty around, business managers the first thing they do is sit on capital. when you're talking about digital transformation, this is a must spend, isn't it. >> it's a must spend. you're right. because, look, every company and every customer is trying to build a 360-degree view of their customer because today if you don't have a direct connection with your customer then you're not really competitive in the world and it doesn't matter if you're in retail or banking or healthcare or you pick your industry, maria, everyone is trans forming and connecting with their customers in new ways and bringing new ways to connect companies and customers together. maria: i guess the market got spooked yesterday and a little today about workday and workday'

, if you are looking at just how much we spend even per student, and the outcomes we have with the oecds, we are in the 20s and 30s, it's absolutely remarkable, what about accountability? what about giving our students even tougher curriculum, setting them up so they succeed later in life instead of having to do quotas and shutting people out who have achieved things? why doesn't that catch on with some people? >> i think any time you have a government bureaucracy, there is going to be complacenccomplacen. it's a breeding ground for complacency when you don't have those things. our education system is not exactly welcoming to innovation. i think we need to be doing more to innovate. when you see candidates like elizabeth warren and bernie sanders demonizing charter schools, very often serve as competition for our public universities and public education at the lower level, i think that competition is a good thing. many times it's demonized and also this entire wealth tax conversation we are talking about, i really do think this is showing a fundamental shift in the way that we as americ