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tv   Boom Bust  RT  February 21, 2018 3:30am-4:01am EST

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witness this past hurricane season the assessment involved hundreds of scientists in the government and universities professor katharine hayhoe of texas test university told the financial times that quote we've been smoking fossil fuels for hundreds of years the report is an x. ray of our lungs we are in a very serious condition it's all a bit more and that by the way at the end before we go a. lot via a small country of two million people has been a big banking center and they've since they've become independent from the former soviet union in one nine hundred ninety one but some recent news has tarnished a previously stellar reputation central bank governor bill moyers rib civics has been accused of soliciting a bribe and the nation's third largest bank a b. l. v. is facing sanctions from the united states for money laundering and other financial crimes nonresident deposits in latvia have nearly been on par with domestic
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depositors and some say the large out of country depositors give rise to heightened concerns about issues such as money laundering. and in other banking news last week you may recall we reported that the biggest bank fraud in indian history was taking place at roughly one point eight billion dollar highs of the pun job national bank or p n b well as an update indian federal police have arrested five bank employees and have closed down the mom by branch that appears to have laundered the money but the case gets even more interesting as it surrounds a purported crook one of india's richest people known for his lavish lifestyle jeweler nearby modi unrelated to prime minister modi although the last known photograph of the alleged criminal was ironically taken with the prime minister in davos switzerland at the world economic forum. the fraud appears to have gone on
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for nearly seven years and involved modi and his uncle in a scheme that issued fraudulent guarantee letters of credit which the businessmen used to deviously acquire cash meanwhile modi is on the run the indian enforcement directorate has raised it raided modi's residence and its offices and the criminal has modi is now on the ten most wanted list will keep track of the story. and now we move to self driving cars we are joined by best person discussed in the entire world the car coach laura fix laura thank you for being with us again it's really a pleasure to have you tell me this self driving cars we all know that people were headed down that direction but how the heck do they deal with conditions like ice and snow how are they testing those things. well that is
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a problem and i know that manufacturers have been testing that for years volvo has been testing it in sweden and they're actually running them on the roads right now so they're dealing with cold weather and all of the weather affects that so the snow and ice and sleet and and white out storms that can happen here in the u.s. we're testing in detroit fords had a city that they actually mock up and the big problem they're all having is when those cameras of the light are or the radar get covered with weather conditions such as snow and sleet or white out that happens with no notice that's where they have a problem and the person sitting in the driver's seat has to take over and that's a big concern because of consumers and drivers don't practice this talent of driving and then suddenly have to take over we're not going to be ready to do it at such a quick short notice and then if the weather is that bad if there are a ton of us we may not even be able to get it but we need to be you know i was thinking when you were talking i mean the only accidents i have had little fender benders of all been due to ice and you know so heck if i going to take over in the
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middle of something where i can barely do you know ok just by myself and i don't know how they would possibly deal with you know these driving conditions i mean i can it seems like they could figure out a solution to the the visibility you know have a heater on the sensor except for that sort of thing but it really seems difficult is this something that they're going to get around eventually or is it something that could maybe stymie them for several years. i think this is going to be a problem weather conditions are constantly changing and you know any time you look outside and it's clear and it's fine that's good but when it starts snowing you gots a light snow i'll just get to where i'm going and we have a white out we just had this problem in buffalo new york there was a seventy five car pile up or not thomas cars going to make a logic decision of do i go here or die go there where we as humans make different choices hey i see there's a pile up or there's a slowdown of traffic i may have to drive on the grass and maybe even hit armco you
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know the railing on the side in order to not be hit from behind by other vehicles because when snow conditions come on with no notice or ice or bad wind that's the problem is cameras they may decide quickly but they may not make the same decision a human has and i think one of the big solutions to this is to keep people going through driver's ed and educate them how to drive better not just to pass a test but absolutely you know i wonder if maybe there would be separate standards for you know when you would be able to use the autonomous vehicles you know if you're in in l.a. and it's you know seventy five degrees and clear that you know you're right it's allowed to use it but if you're in like you say buffalo new york in january maybe you know are people talking about that or is it too early to get into the nitty gritty of those potential regulations. well that's going to be some of the big factors i know we've discussed this before big regulations going to be government regulations and insurance those are going to be two major factors we still got
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hackers involved we haven't even come up with that where there the u.s. has stopped vehicle to vehicle communications and so they are not working on that that means there's still that means they can't come up with a permanent firewall that will actually protect you in a vehicle you're basically in an amusement ride you have no control so if an autonomous cars hacked it could be very dangerous plus we don't know there are some people that are a little nefarious and they might put something horrible into a car and send it on its way so we really have to look at all the possible variables where humans are involved with computers i think we're a ways off i know is testing in pittsburgh so they're going to start working with some of the winter conditions and how they are affected but i still think these are major factors that need to be addressed because sometimes they come up with no notice and even though computer gets that information from the weather and other vehicles there's still a lot of problems that have to be situated lauren before we go we've got about a minute i'm wondering if you have a take on the news recently you may not have been following it but the g.m.
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plants pulling out of south korea. you think they're going to pull the closing one down with what two thousand workers but there's still four thousand there you think they're going to pull all the way out of south korea. well this is one general motors purchase di will do and they weren't doing so well and the korean government owns about seventeen percent of that fact of those that company that's based there in korea i think what they're doing is consolidating because right now general motors is the fourth largest car company globally and so in order to make yourself stronger you need to get rid of some of that excess spending and they were just weren't making the money off that old factory so they're consolidating some of the workers in the other two plants but the fact is they really got to think about am i making money it's not just i know it's about jobs for consumers but for the manufacturer they have to look at we're not making money we're taking a total loss and cars are being sold and there's about five hundred twenty thousand vehicles being produced in korea what they've got to look at the big picture you know bottom line is really what you do in business lauren fix the car go coach
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thank you for joining us again we really appreciate it. thank you. last week we witnessed that horrendous shooting in south florida which took the lives of seventeen people the news with ed schultz was there yesterday and interviewed some in the community including a student who survived the shooting it was important and compelling coverage of a simply horrific i mean just awful event as happens in these circumstances the gun control debate is once again taking center stage that's not a boom bust area of expertise but we do look at the economics of things like companies and firearm companies in that regard aarti correspondent ashley banks has more it's right part now to many it appeared hillary clinton would when the two thousand and sixteen presidential election she had a policy platform that included gun control prompting the increase in gun sales
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since trump was elected president sales have reversed and manufacturers are trying to recover shares in the largest u.s. gun maker sturm rocker and company how fall in more than twenty percent since trump took office and american outdoor brands the owner of smith and wesson is down sixty percent that's not even the worst for some companies earlier this month america's oldest gun manufacturer remington outdoor filed for chapter eleven bankruptcy now according to statistics more than i love in million firearms were manufactured in the u.s. and twenty sixteen an order to meet the expected demand that's up from nine point four million in twenty fifteen and three point nine million and two thousand and seven are going to be prepared for an uptick in sales particularly with the company's a ar fifteen style assault rifle however this weapon has been a target of gun control advocates after it was used in the sandy hook elementary school shooting back in two thousand and twelve or twenty six children and staff members lost their lives and it was used again in the park one floor one high
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school shooting just last week saves jack said the chief financial officer of running. directly blame the company's high levels of m. and tory on clinton failing to win the presidency he added quote retailers and wholesalers expected a different political climate and hunting season that did not materialize the company saw a plummet in sales in the most recent quarter its firearms sales were nearly cut in half compared to the same period last year the company faced nine hundred fifty million dollars in debt forcing the company to file bankruptcy and give control to its creditors revenue out of raveling companies are also sharply declining now in the most recent quarter sir rugger and company saw thirty five percent decrease its net income saw nine point four million dollars down one thousand point nine million dollars all american outdoor saw a thirty six percent decrease its net income saw drop from thirty two point five
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million dollars to three point two million games devaney the chief executive of american outdoor recently told investors that prices would remain low and promotional activity was here to stay an order to offset the decline in revenue christopher kilroy chief executive of sturm rugger says quote this environment which is a way more challenging is the perfect and vironment to be launching new products part new product sales made up thirty percent of the sales and sturm ruger is the latest quarter which includes two new pistoles and a first station a rifle now although some firearm company chief executives are fearful others are hopeful thanks for that report preceded it. and time now for a quick break but hang with us because when we return natasha sweet tells us about the new owner of the iconic los angeles times plus the second part of my interview with indian minister katie rammer role and before we go i have
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a few thoughts about climate change science and civility as we go to break here are the numbers at the closing bell. plus the money for the sports studios in the studio yes in most of the snowboarding one of them is one of the. beautiful yes good in the bush people are going to push you in but you most of them close of them as material to my gym i do you know but then you know my mother goes with the story of the. system to me now will some day and some the muzzle on me the spot of the video the dog you'll see yes and you'll see a little. book
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of suits and you put yellow with somebody else but you're going to show cynical bulls to the police ideations people still the most of them so just to think oh well what you call a guy. that would usually look up as one nation as we see would you do you see just as i was telling me of something that even the playful to me is a symbol to me so. i played for many flips over the years so i know the guy even so i got. the ball isn't only about what happens on the beach or the final school it's about the passion from the fans it's the. each of the superman each of killian erroneous and spending two hundred twenty million on one player. it's an experience like no one else on to because i want to share what i think what i know about the beautiful game played great so one more transfer. and thinks
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this minute. with gold make this manufacture consent to public wealth. when the ruling classes protect themselves. with the famous merry go round this is only the one percent. we can all middle of the room sick. of the real news. the world's biggest mining companies have dug their way out of a huge monetary hole b.h.p. billiton rio tinto glencore p.l.c.
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and all american have all rebounded after many years of plummeting prices in the commodity sector with an expected two hundred billion dollars come back so why the sudden surge for these mining companies the electric vehicle market has a lot to do with it materials like cobalt and nickel are used in batteries that power electric vehicles vehicles which increase the demand and the price for the metals cobalt prices have doubled in the past year and nickel prices are up twenty percent. right a pharmacy is back in the spotlight but this time for a different reason the drugstore chain is being purchased by the grocery giant albertson's combining the two will be worth around twenty four billion dollars when you include their debt the two will now have around forty nine hundred locations across the u.s. although albertson's made the acquisition there will now be branded as rite aid
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stores while the normal writing pharmacies will keep their names shares of rite aid shot up earlier today by thirty percent and they ended in positive territory the move comes on the heels of c.v.s. pharmacies announcement that it will be acquiring aetna for sixty nine billion dollars and more recently that walgreens may be buying amerisource bergen. a billionaire dr based out of los angeles closes in on a five hundred million dollar deal purchasing a los angeles times and a sister paper the san diego union tribune archies the toss a sweet has more from los angeles biotech billionaire patrick still song brings local ownership back to the los angeles times and after selling out some five hundred million dollars outsider say there are some big changes to come now soon hsiang worth an estimated seven point eight billion dollars according to forbes joins a list of other wealthy under par new words investing in publications massive layoffs and changes in management have been plaguing the l.a.
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times as they face challenges in adapting to the digital age no word if soon john will take notice of the new york times its strategy on thursday the company said it added one hundred fifty seven thousand net digital only subscriptions in the fourth quarter will this pushes the overall subscription revenue to more than one billion dollars for the year now soon takeover will reportedly allow the paper to repay its debt sixty five year old soon john was born to chinese parents in south africa he came to the u.s. in the one nine hundred seventy s. to do a surgical residency at u.c.l.a. soon shall reportedly made his fortune in the biotech industry developing a cancer fighting drug called a brac saying after selling two related businesses for nine point one billion he continued searching for a cancer cure in twenty fourteen he told sixty minutes he spent a billion in research he now also runs medical company mantell soon john is also part owner of the l.a. lakers and was often seen hugging kobe bryant before games now suing song has
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mentioned he was an example of the real but how the l.a. times was being run and we have publicly stated what changes will be made but he has confirmed that we want to continue with the award winning journalism both apple los angeles times and this and we're going interview in los angeles in hospice suites arts. and now we have the second part of my interview with indian minister katie ramma wrote i ask in our increasingly complex world how could we learn from each other and we discussed issues like climate change and what we should be doing a couple of things i think this the problem is that our cities phase across the world are pretty much the same you know in terms of dealing with the issues that plague different cities across the world for instance if you look at new york or london or for that matter bombay or delhi or hydra which is where i come from. we have issues with traffic we have issues with smart management of our congestion and
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how we can ensure that our roads and our greens and our our different systems that we've built have have to be built in a manner in which they. you know the survive all the older all the things that we have to weather and also how do we ensure that we do good management of our release dispose of how do we ensure that our environment is taken care of how do we ensure that our children are made safe in terms of keeping our cities safer and smarter so a number of things that you know where we can learn from each other and especially in an emerging country like india the biggest advantage today we have is in fact when you look at the countries that have done well the first world. india now has the ability to learn from the experiences of other cities and pull what i don't you i don't like to use the term leapfrog because either i don't again you can afford to leapfrog we just need to pull literally and use technologies used use the
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experiences of other cities and also gain access to the capital and ensure that in forums like the valve we interact with all of these smart youngsters who are looking to this literally disrupt and bring about a certain change and ensure that those technologies are deployed for our benefit i think these are they excited exciting times these are exciting times for us to be you know talking to all these youngsters who want to change the world overnight literally and that that's why that is that so that might sound a little ambitious that is the order of the day because if you think about it. before the lawn must arrive going to the scene nobody knew that you could make a car out of the computer everybody thought detroit was the place to be but now look at how things are check things have literally turned on their head so lots of exciting times ahead minister we talk a lot in global settings like in davos about climate change and you've discussed you know how smart that traffic is a problem and in your country of india can you explain where you think we should be
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on climate change as a world what we should be doing a couple of things for sure one sunshine countries like india africa the middle east we ought to be switching completely to renewables because there's no way we can afford a little and gas and you know turmel energy you know burning our burning burning our planet and leaving nothing for the future i think one of the things we ought to be doing absolutely is work more on storage and how we can enhance storage technologies which will completely ensure that we switch over to the most natural form of energy possible that is solar and wind of course and a combination of both of in solar hybrid combined with storage i think that is going to be a game changer it's going to help mother earth. survive all that cross cities become it and all of the kind of things we do to hurt the future as well but the second thing i want to talk about is electric mobility i think more and more of these i mean no matter what we talk the lesser the dependence on oil and gas the
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better environment is going to be and while i do understand the large oil and gas companies and their. reluctance to push evie space it's something that we as as as as humans not just as americans or indians we ought to be moving toward that direction we ought to be moving quite swiftly and we have to work in technologies that will reduce the cost of purchasing uneasy and i think that's that's that's the way. if you can actually. control what is happening on climate change and mr minister given that president trump in the u.s. has pulled out of the paris climate accord does that really obligate other nations to step up and fill the void particularly on this issue of climate change let me let me put it this way i think the fact that united states and president trump of
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pulled out of the soul of this whole arrangement in fact is a great opportunity for the rest of the world to actually showcase to americans and united states that the rest of the world can get its act together and lead the way from the front and sure should demonstrate to the united states that there is another way of living as well you know so therefore i mean let's not fret too much about what president trump does or what he tweets that's what he more about the future generations and let's let's talk about how we can actually demonstrate to him as well and to him and to those people who agree with him that there is another way of looking at things and that be a possibly could be better for future so i think that's let's let's take the positive or the silver lining around the cloud and let you him to things can be done differently as well in spite of him not wanting to play along. before we go the u.s. government's national climate assessment report which was just released sos that
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things are actually even worse than previously thought the trumpet administration which has shown skepticism at best about the impact of global warming on our climate has done many things to actually for efforts to address the dire circumstances including the president himself as we were just discussing with katie rem a row pulling out of the paris climate accord signed by roughly two hundred nations to try and reverse the negative impacts of global warming that said the administration could have tried to throw this effort this important study they didn't like it and they could have tried to stop it from being released and they did it i often talk about discord in this town in washington d.c. it's worse than i've ever seen it in thirty five years but this example shows that there is some civility when it comes to important science and i commend the administration for releasing the report it isn't in line with what they want but
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they still released it for years i thought that there is actually a free market good economics approach to solving climate change it's not too complex then it would work it's already working in the european union the idea is to cap harmful emissions at a certain level but if a company perhaps a coal fired utility can't meet that emissions level they could purchase environmental credits for more environmentally friendly companies which are doing what they can to help save the planet for our kids and grandchildren these environmental credits could be traded on markets just like stocks or futures are traded today it would be a free market approach that many republicans and democrats alike i think would support back in two thousand and seven and two thousand and eight for example republican senator john mccain the. arizona republican and he was the nominee for running for president for the republicans supported this sort of proposal the other nominees by the way were hillary clinton and barack obama of course that was brought them up obama who got it but both clinton and obama supported this cap and
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trade proposal also and it's called cap and trade because in cap it caps the emissions and in trade the credits are traded for far too long we have not even doing willing to discuss this important issue and i'm not overly optimistic but perhaps just perhaps the trump administration allowing this new climate change report to be released is at least an on ramp to opportunity to those discussions i hope so. that's it for now thanks for watching be sure to catch boom bust on you tube at you tube dot com slash boom bust archie we'll see you again next time and that will be from. new york city the big apple so long. and is getting international recognition with the help of israel at least in the
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world of zoos i'm in bills to dismiss it to me like you know that this isn't my complicity is something going on the sunday i'll maybe you know john i just hope with. the only palestinians who gets the most helpful is to respond counterparts i don't think there's some of those who in the world on the commission didn't know when to do this. and the design office not just you have to this lady is the most of the you have i know you compete in the doesn't seem to do more among those last time but there's also. join me every thursday on the alec simon show and i'll be speaking to guest of the world of politics sports business i'm show business i'll see you then.
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feeling the high failure to nearly have a bottle of saudi started six oil. an estimated eighteen fastens under a truck she cheats are now living in greece. you know still more to go. to your home in there you go food during. the many sell their bodies just to make ends meet some. of them second or them a second or third yet you know all the sins in there that is the whole point of this says in god to let things. all sinners thirds are dealing drugs to make a living. justice in their lives and love love runs a little. game of the.
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good politicians to do something good to. put themselves on a lot. to get accepted or rejected. so when you want to be president or injury. or somehow want to be rich. that you'd like to be first to see what before three of them or can't be good get. interested always in the waters of dollars. question. if you. looked closely you. know. you can eat with the feet you
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see below that will only. be. the light of. the northern syrian city of afrin is bombarded by the turkish military intensifies its operation against the kurdish fighters in the region. applause for the palestinian leader at the un security council as he calls for the united states to show commitment to the israel palestine peace process before walking out of the room leaving washington's envoy addressing an empty chair. russian figure skaters excel at the winter olympics in south korea breaking two world records in just fifteen minutes.


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