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tv   Boom Bust  RT  April 3, 2021 1:30pm-2:01pm EDT

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this is a boom bust one business show you can't afford to miss friendship or in washington years we have coming up the u.s. has added just short of 1000000 jobs at the uncertainty of the pandemic begins to wane straight ahead we'll bring you up to speed on the recovery and how global markets did this week plus the backlash against georgia's new voting law is heating up as the states government has responded with welcome artie's owner rick sanchez to discuss and later with vaccinations on the rise what could we see as the music industry is live events begin to return later on we'll bring you from a true insider with a packed show today so let's dive right in. and we lead the program with the latest jobs data out of the united states non-farm
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payrolls increased 591-6004 march the most jobs added in the single month since august of last year the unemployment rate fell to 6 percent this number far surpassed kind of sex spectator's of 675000 jobs added now it's important to note there are still 7900000 fewer americans employed than in february of 2020 just prior to the pandemic the leisure and hospitality sector led the gains adding 280000 new jobs for the month as bars and restaurants continue to reopen with students returning to in person school in the education sector added 190000 jobs meanwhile construction continued to see gains adding 110000 jobs all of which point to more good news for the economic recovery meanwhile manufacturing activity which accounts for nearly 12 percent of the u.s. economy spiked to its highest level since december of 1983 the institute of supply management announced thursday national factory committee had jumped to a reading of 64.7. march up from 60.8 in february now any reading above 50 means
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we're seeing growth in the manufacturing sector so with this in mind let's take a look at where markets ended up for the week global equities were largely up on new details for president joe biden's infrastructure plan while investors look to get their trades in before markets closed for good friday we start in russia where the mo x. is up this week a new report from the country's statistics service says russia started to pull out of its covert slump in the last quarter of 2020 g.d.p. shrank only 1.8 percent compared to a forecast of 2.2 percent and at the same time russia central bank is raising interest rates for the 1st time since $28.00 teen moving to asia the shanghai composite it's also in the green this week reuters reported the country is looking at creating a nother stock exchange hoping to attract firms listed in hong kong and the united states and this comes as the u.s. regulators have put more pressure on chinese companies over any alleged government
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ties in hong kong the hang seng continues our street the index gained nearly 2 percent on thursday alone this was part of an overall rise in asian markets helped by a rebound in chinese manufacturing and containment of local koeppen 1000 outbreaks moving to japan where the nikkei is also up jumped 1.5 percent in riding the s. and p. 500 record close on wall street japan softbank group rose 4.2 percent and the bank of japan's quarterly business survey came in much better than expected let's move to india and the sensex is also up climbing back to the 550000 mark rising metal prices and gains in the banking sector helped push the positive sentiment overall this positivity comes despite a new rise in covert cases across the entire country in australia the a.s.x. is up but just barely the latest infrastructure plan by the biden ministration is helping boost building materials and the mining industry in the material sector close about $1.00 per. higher this week but the australian dollar is slipping as
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money continues to flow to markets here in the united states in south africa the all share is up on a stronger rand investors are optimistic thanks to a new survey which says manufacturing is up for a 3rd straight month meanwhile new car sales were up about 32 percent for the month of march a positive sign that consumers are willing to spend again now let's move to europe and the americas in london the footsie it's up this week with nearly all sectors in the green amid hopes for a continued economic recovery tech stocks led the way climbing 2 percent and the latest data shows the eurozone manufacturing activity increased at its fastest pace on record for the month of march the german dax in the french they're also up with both countries seeing gains this week despite leaders and now it's a renewed lockdown measures in response to a rise in kobe 1000 cases in fact germany's key index hit a record high on tuesday fueled by banking automotive stocks move across the atlantic to brazil and the evil of is down for the week now the hits keep coming
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for latin america's largest economy as the largest the latest data showed industrial production fell in february for the 1st time in 10 months coping 1000 deaths also hit a new daily record high as brazil to tack to a new variant of the virus in mexico b.m.v. is down but just slightly however the peso hit a 2 week high point 7 percent against the us dollar helped out by a one percent rise in crude oil prices and better news this week the country's finance minister said mexico's economy is on pace to reach preplanned levels by 2022 here in the united states all 3 indices are in the green as the bite in the ministration revealed new details about his plans for a 2 trillion dollar infrastructure proposal and the 10 year treasury yield to fell to around 1.68 percent finishing out the trading week the s. and p. 500 climbed more than one. cent on thursday for
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a record close beyond the 4000 mark for the 1st time ever and finally up north the ts x. in canada is also up led by manufacturing energy and technology again health care was the only sector to fall as ontario announced an emergency 4 week lockdown that will begin this week it in the coming week we'll continue to look at details surrounding president biden's infrastructure plan as well as the continued vaccine rollout as the recovery continues into the 2nd quarter and that is a global market walk. and business executives across the united states are taking a stand against a georgia law aimed at election reforms which was passed last week now the new law which critics say disproportionately affects people of color will require photo idea to vote absentee by mail it will also cut the time frame in which people have to request absentee ballots and limit the number of ballot drop boxes and where you they can be placed another contentious provision in the law bars outside groups
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from handing out food or water to those waiting in line to vote the law was passed following historic turnout in the state for the 2020 election which saw 1300000 people vote absentee due to the pending damage the list of just some of the major corporations which have had executives weigh in on the law include coca-cola delta airlines u.p.s. and home depot all of which have headquarters in the state there is also pharma giant merck porsche bank of america j.p. morgan chase citigroup american express and that list just keeps going on and on and just prior to air here major league baseball has announced that it will move the 2021 all star game and m.l. be draft from the city of atlanta due to this law so this raises the question just how effective is this corporate activism we'll call it coming from business leaders weighing in on the political issue and kennett effect change to talk about this let's bring in the host of the news and the exam chaz rick sanchez himself now rick
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before we get into the corporate angle of this let's talk about this law what are your thoughts on that this is the republican party taking a gun getting the trigger aiming it at their foot and shooting they're literally shooting themselves in the foot they're doing everything possible one can almost help but feel sorry for them this is so incredibly short sighted for the republican party of the united states to send a message to all men. doherty's in america that essentially says we don't want you to vote we are going to make it as difficult as possible for you to vote oh and you know what we essentially don't need your vote that is so short sighted sure these neck in ations may end up helping republicans win maybe the next election or the next election for the local senate or whatever it is they have coming up but in the long run it literally is casting
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a shadow over the party that says to people like myself who i go to church i think like a republican i live like a republican ahmadiyya logically more in tune with republicans that i am democrats i can't be a republican because they don't want me that's the problem with this measure and let's get moving to this corporate these comments about this it seems like a catch 22 for for a business because number one if you step out against it you face you know backlash from those who support it and if you go against their or with the law then you're going get the opponents of the law so you're in this catch 22 what do you make of that situation the business in this country and in certainly in this case lead the policy makers or the supposedly policy makers so in the united states of america you've got your politicians and then you've got your business community the business community more often than not is going to get something like this right why because the business community has to be diverse for the bottom line if you
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sell 2 widgets for a living are you going to choose to tell all african-americans or all hispanics or all any group in america we don't want to buying our products are you going to allow your marketing department to send out a signal to african-americans that's a centrally say we're going to make it harder for you to buy our products than perhaps you know green people are a little people of course not so what delta airlines and all these other companies that you. just named are saying is hey we don't want anything to do with what the republican party is doing in georgia because we love everybody because akhet we don't love anybody that's going to affect our bottom line and we're going to lose revenues i mean it's pretty simple isn't it absolutely and it's interesting because when you look at politics we so often talk about how lawmakers are accountable to the people to the voters but that's not the case what you're actually saying is business is are more accountable to the odors to their customers than them and
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there's always that famous michael jordan line republicans also by tennis shoes when they asked him to speak out about politics he said look i'm not willing to eliminate anybody i mean that's obviously he's come back and said i didn't exactly mean that i was saying that in front of people but the fact was that that's how it is there's business and you are accountable to the people who buy your product and you're accountable to the communities that you serve right so if i work for you and you're my c. and i'm your c.m.o. your chief marketing officer you're going to come to me and you're going to say i want to i want to report rick sanchez on how we're doing in the african-american community and in detroit and i also want to report on how we're doing in the hispanic community in miami oh and i want to report on how we're doing on the on the irish american community in boston right and i don't want you to come back and say no hispanics hate us or perhaps hispanic numbers are down to work african-american numbers or what are we going to do to reach out to those communities to make them like us and like our product that's the way you do it in
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business that's not the way the republican party is behaving from a political standpoint and i think in the long in their demise and here's an interesting thing to your point about how the republican party is not responding to this what do they do instead of backing off saying maybe you guys don't understand this law appropriately the legislator the state house of representatives in the state of georgia actually went and passed a law to pull back some fuel tax credits that airlines get maybe one of the largest airlines in the united center get it all out of their delta airlines yeah delta airlines litter. really creates a flush situation for the budget of the state of georgia they can't afford to lose delta airlines that would be that would be a penny wise and pound foolish would it not absolutely and that the issue that i do of course have is it's not like delta has i mean well you could say we'll pull out of this date whatever delta is always to also tied to jackson have failed airport down there in atlanta one of the largest in the united states as well so it's going to be a little bit harder for them to pull out but companies like coca-cola companies
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like u.p.s. they could easily move headquarters if they really wanted to take a stand here it does seem foolhardy to use my word once again for the state legislature of one state in the united states to try and take on 56789 corporations that are some of the biggest in the united states and say it's us against you you know what i got my money on the corporations and you think that these this action can help pull this back a little bit by these corporations if they put enough pressure on the state you think yeah no i do i do i do think so i mean i think right now the republican party in georgia in particular feels like it's almost grieving because they lost an election they should have won they lost it not because the democrats worked harder but because they gave it to them on a silver platter and instead they're now trying to punish democrats for doing something that they really didn't do host of the news with rick sanchez rick sanchez himself always insightful and pleasure to have you on the show have a good friday. and time now for
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a quick break but when we come back with the vaccination gaining steam could we soon see the return of live music on the other side we talk to an expert in the field about what we can expect moving forward. humanity has never seen such strange natural phenomena before giant coming to us appearing in the peninsula. one after another. but never doubted for help again you give us your truth you both you know love does love we thought of it that you would be at. this one appeared in 2020. how often and where will new crisis. that's how dangerous own they are human the slum
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only you know 2021 russian scientists came quite close to working out what's going on. they built a full scale 3 d. model of the black hole. the world is driven by shaped by. the day or thinks. we dare to ask.
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problem drugs don't always come from unscrupulous dealers but from pharmacies too in every state in the united states we seem very sharp increase in the number of people seeking treatment for addiction to prescription opioids and invented america under the banner of medicine persisted with the pain but instead of trying to wean him off though she just goes after dose after dose after dose and really became his drug dealer. manufacturers. are. now welcome back after
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a massive traffic jam in the suez canal southern california is facing a similar problem as business begins to gain momentum port of los angeles and long beach are overloaded our chief correspondent touches sweet has more on the hold up . here at the port of long beach and dozens of container ships are sitting idle and as more imports are flooding into southern california millions of dollars worth of goods are sitting incurred offshore this week some $24.00 container ships stacking up at the port of los angeles and long beach that's actually a decrease from early february when some 40 were anchored off the coast authorities say under more normal circumstances container ships rarely incur at all and according to the marine exchange of southern california some of these vessels here now are on day 12. in this area of southern california there are tens of thousands of containers that are holding millions of dollars worth of supplies everything from electronics to medical equipment but this traffic jam has been in the making since the latter part of last year after supplies were wiped out from the pandemic
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there's been a surge in trying to meet demand in the summer of 2020 things began to pick up as international trading partners were frictions related to the crown a virus but this change of pace shocked the system more ships began to arrive when the capacity was already limited to paint the picture of the backlog happening in february alone the ports of los angeles and long beach saw 177 container ships which carried some 800000 containers that adds up to 31. per cent more ships compared to february of last year and 49 percent more containers according to chris rogers a supply chain analyst the goods where we have seen the fastest growth in shipments are those that take up a lot of space on container ships relative to their value with the result that the growth in volume of trade has been faster than the growth in value of trade this in turn reveals just how vulnerable supply chains are and the difficulties that lie ahead for american companies working to recover from the pen demick but now with more competition for containers the cost of importing is on the rise and the port
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of los angeles and long beach together handle more than a 3rd of u.s. imports and as you can see any delay here is going to have a global impact on supply chain reporting for boom bust atocha sweets are to. go with the vaccination process continuing music fans are itching to once again attend concerts and as most of the events have been canceled over the last year organizers for some of the largest music festivals are planning for gatherings of tens of thousands of people this summer for instance earlier this week the binary music fest music and arts festival announced its event celebrating its 20th anniversary would take place in manchester tennessee from september 2nd through the 5th featuring some of the biggest names in music but what we want to vent of this magnitude look like well the organizer of the u.k.'s reading and leeds festivals say attendees will almost certainly need to prove they are covert free or had had been vaccinated according to plans in the u.k.
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social distancing measures within the country could be lifted by the end of june and melbourne but who runs the festivals says the ideal situation would be to go about normal business these festivals are already sold out and are set to take place at the end of august so for more on all of this and some other news out of the music business let's bring in a veteran in the industry steve stewart is the c.e.o. of vest and a former manager for the stone temple pilots steve thank you so much for join. and ing us i want to start with the impact the pandemic has had on live events and specifically music how bad has it been for the industry because when we tend to look at it we look at musicians and we tend to look at the biggest one so we say well taylor swift the millionaire who cares if she can't do it to a concert for a year but there's a whole support structure at play here correct steve there is and it's big money when you're talking about artistic and earn and $1000000.00 so that pales the record sales the streaming part of it pales compared about life artists to the
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artist to her modesty and a night you're right to me she's got you know she's she's got a cushion but there's a lot of artists don't have that ability they're dependent upon live gigs whether they be teenagers arenas coliseums anything bigger and it's a little art is that really books you know wrote every year to be their bread and butter and they've been hurt deeply and like you mentioned the crews the production all the stuff that goes around those tours there's probably and they were $23150.00 people running on those tours at the pams they're widely that these artists going out to eat every summer and 6 and now with the concerts planning to really make a comeback this summer and these giant beth was taking place you know you worked in the industry are we comforted that promoters and event organizers will take the proper precautions to keep everyone safe you know amid this pandemic. i mean there's talk of the saxon counselor who was a c. yesterday it looks like the team or just promoters of the country one nation e.g.
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are looking out and out you'd have to rx a nation for the fact that the were cleared and yet the show had to actually gain entry to the bench so it hasn't been implemented yet but it looks like that will be done before the show's happened so i don't say end of summer but it's going to present a lot of problems initially i saw us alone so it cuts out more than 60 percent of the orkut which is android so it's got to be young both platforms and ask something is verifiable it's going to be weird for people are selling tickets on the secondary market or if you can't go to the show you want to give the ticket to your brother or your girlfriend how do you make sure they're on the same boxing passport that you out you know a lot of the just 6 have been solved but i think there's a way around and i do get concerned that you know adam a concert goer as are so many people that you know he also might get people who are getting a little tuned up there get a little bit looser have a little bit more fun and then those math and social the thing protocols may not take effect is that
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a concern as well step. i think somebody you see it in miami you see them they were spring breakers garment people just ignore 'd all the social distancing her hammer so i think when you see a mosh pit with 10000 shares of some empathy or somewhere you're either a lot of pent up demand people want to get out or are to have a good time it's going to be difficult to keep those distances and those parameters in place are not already with the amount of security in barricades are in place the show. keeping people in a place where controlling them in a certain way is very very difficult and i want to move to a little bit broader point on the music industry over the last 6 months or so we've seen some pretty prolific songwriter sell the rights to their music the list now please paul simon who did this this week as well as mick fleetwood stevie nicks neil young and bob dylan and they're all doing it for huge dollars why is this happening so much right now and how lucrative of a business is this licensing and rights situation. i mean the music publishing
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business is about a $29000000000.00 business globally so it's very lucrative it's one of the big killer isn't in the music business for us where the money comes from a lot of senses one and publishing are my rights as the other so it's a big deal why are these people cashing out of the markets going to people is to realize that music isn't uncorrelated asset class you're seeing a lot of people go on the market with their songs of the public in my view as very best and sees it a passion for the artists and the songs of the tickler they haven't had the chance to actually become part of the marketplace yet my company thus does that we enable the public to actually come in and buy into music world peace which i think is part of this entire thing where people want to have an experience they want to feel like they're connected to the orders they were up so it's a huge business you see these deals come apart because a lot of these are history legacy artists they got john was that bernard you know millions tens of millions of dollars a year they're doing these are multiples anywhere from $15.00 to $30.00 x. so it's a good business and i was going to actually bring up
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a bath because you guys do put it you put the power in the hands of the fans and the artist doesn't need to make a change for the need to make this move late in your career like we've seen with some of the big guys. i think if some form of think when you see the bigger artist doing it the smaller artists will follow and that independent artist has never really had an opportunity to taxes that there has always been an intermediary little i mean some of the legacy artists and lost their deals are a record deals that don't meet record time they just tour right so a pulse i mean for example i don't think he really needs a record label but he's a touring entity needs to go out into every every year if you polled you know tens of millions are thieves stewart c.e.o. and co-founder of beth thank you so much for your insight today they ran. and finally if you are a gamer who plays multiplayer games regularly you have no doubt ran into the dreaded cheater you know players who use 3rd party software or hardware to game the system and get an unfair advantage some justice was served as
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a collaborative effort between chinese police and gaming company 10 cent has resulted in the closure of the biggest ever video game cheat operation the seller of these chiefs operated under cheats operated under the name chicken drumstick and designed and sold cheats to games like overwatch and call of duty mobile officials say more than $75000000.00 in revenue was made by the organization which charge a subscription fee to clients and during the bust police seized assets worth $46000000.00 including several luxury and super cars that's it for this time you can catch boom bust on demand on the brand new portable t.v.'s build on smartphones and tablets to the google play and apple app store by searching portable t.v. or to see if you can also download a newer model samsung smart t.v.'s as well as roku devices which simply go to portable t.v. we'll see you next time.
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in the 1920 s. and thirty's several 100 african-americans moved to the soviet union and many of their descendants still live in russia. again at the risk of you know no rush for us though up most of us it. was one thing on their way. back home but i can merican suffered from racism and a complete lack of prospects. is that columbus mud the real. one by elsa store on her by doing. so they decided to leave everything behind and start a new life in a country about which they knew almost nothing at all some of the rear groups who were through during the night. found great crowds. to move
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a golf you know going to call you. know almost a 100 years later the history is repeating itself my great grandfather george time went through russia. probable worst crime to go anywhere why not me. when i come here. welcome to max kaiser financial survival guide. looking forward to a year that's without. the yanks this is what happens to pensions in britain delegates average you watched as a report. an entire village in alaska. if another country trying to wipe out an american town. we do everything i. want to
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. climate change is the same threat right now alaska seems some of the fastest coastal erosion in the world. about 30 feet. 35 feet long in just about 3 months while we were measuring. the river is. closer to how. long was. were a part of the earth from. a
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not so happy easter in europe some e.u. states expire uncoded curbs while others announce the partial closure of vaccination centers. also add on the program with millions of americans losing their jobs and small businesses shut her during that it's revealed that some of the country's biggest companies paid no federal tax last year. current hollywood release them are a 10 year depicts the story of the man widely regarded to be the most tortured detainee in guantanamo bay r.t. talks to the director of the film on the prisoners. there was no evidence at all
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in the still to this day.

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