will lift the 25 percent tariff, bog, steel and 10 percent duty auto aluminum from europe, and the e. u will lift its levies on a series of us made products that include whiskey peanut butter, orange juice, and harley davidson motorcycles. leader is from both sides. praise the agreement, calling it a quote, new era in relation between the u. s. and you, here's what this deal does. it immediately removes tire on european union, on the european union, on a range of us products and lower costs to american consumers. and ensure a strong competitive us steel industry for decades to come and create good pain union jobs at home. and this marks a milestones in the renewal us partnership. and it is our global 1st in our efforts to achieve the d cup on the face of the global steel production and trade. now this new agreement comes with one clear target. the leaders say they want to put an end to be over production of steel in the name of the environment, because the industry is one of the largest when it comes to c o 2 emissions. but in doing so, they will also be targeting beijing who still pr

yes, there is of awesome between eastern europe messenger europe. you're totally right though about the governments want you to stay empower. you also have to look at who has benefited follow the money. the pharmaceutical stocks, the fang stocks, facebook, amazon, netflix, on apple, google, microsoft. they have immense lobbying powers and their lobbying, current governments empower governments, want to stay in power. you've got a conservative one in the u. k. got left. anyone in the u. s. they want to stay in power. now quickly to answer your question about the east west differences, don't forget, in eastern europe there is a lower population density. there's a lower life expectancy, fewer people, obviously, elderly people. they're the most vulnerable their way, flew a fewer fuel flights in and out in the beginning of the pandemic. but also they look down quickly and very importantly, one of the reasons they look down and are referred to ion acrobat cross that he's a bulgarian political scientists. and he said, don't forget the eastern europeans wer

they're not going to sacrifice that for a big if the relationship with europe, especially because europe can get its own act together. brittany won't go with the rest of europe. spain doesn't go with france and germany on half a dozen issues. i mean, you're not, you're not making any logical sense. she's spinning the woman in the leadership role. she's spending an image and i hope, but there's not much substance for us to hold onto here. ok, so she got some big dreams and were just waiting to see if they actually play out. now christy, another part here is the fact that the commission president also proposed a ban on sales of products made using force and labor taking a direct shot at china over allegations. the chinese government has repeatedly denied. now this is a criticism we continue to hear from world leaders. so how is being responding to the latest claim? i mean, this is another big show, a political theater. it shows that the west is kind of taking a hard line approach to china. now that it's become an economic powerhouse, but it still has less of a hard line than that of the us

meaning that you have fewer shipment traveling to europe from could tar. so as shipments of gas have turned from europe toward china, flows of pipeline gas to year from russia has failed to make up that shortfall. russia has been slow to deliver the pipe natural gas to the region, which raises a lot of questions on whether this may be a deliberate move to bolster in case we're starting to close the the noise stream to pipeline. and now octavio, there's a lot of concern that the soaring energy prices we're seeing across europe will make inflation even worse now, while proposed aid packages may actually help consumers pay the higher prices. how do they tend to impact inflation? well, i think just a mathematical certainty, the high energy price of 9 gas prices have lead to high inflation numbers. and you can see the very, very clearly in the face numbers for all that came out a few weeks or so. and let me go ahead and print the set. now if you take energy out of that, you basically hop european inflation rate down to $1.00. so that mean energy prices in parti

so the real income of workers in europe is rising. that's a testimony to a lot of things, but it includes the much stronger position of their labor movement, which is able to make things happen there that we don't have here. and i think that americans are learning that they're looking fondly and enviously, and they're going to be moving in the logical direction to get closer to that. now we're speaking of the timing here. i mean, we've obviously been talking about huge supply chain constraints recently as all of this goes on and we look at strikes that, i mean, john deere, catalogs named best go just to name if you could, these cause further issues, they actually get employers to listen more so than they would have in the past. yes, but i think what we have to look at is, is to be a little careful here. and a little economics, basic economics prices rise. when the people who set prices choose to raise them, those people are called employers, employees on set prices, employers do. and when employers raise prices as they are doing now a

that's where europe really needs this energy. so at this point, it's really about figuring out what is the best way to move forward. and the truth is, they don't like this because because many of these countries do want to move to renewables . but the way to get that price down is to sign long term deals that last $20.00 or 25 years, not doing the spot market pricing. and certainly as interesting to see how long are going to let this go on, especially as people are paying increasing prices and the temperatures aren't getting more and more anytime soon as we go along with this season. now christy has been mentioned, the leaders of china and russia will meet remotely. so how important is the u. s. dialogue with trying to specifically during the series of meetings? i mean, this is going to be a very important meeting with all eyes on the u. s. and how it handles its relationships with not only china, but also the rest of the world after spent the last 4 years focusing on this american 1st agenda. so china and the us are expected to

so that's around half of russia's total export to europe a year. but by itself more, it's going to have the capacity to need about one 3rd of the use import requirements. so it will definitely have a big impact once it's up and running. but currently, russian and german regulators are currently in a debate as to whether new regulation supply that were put in place after the pipeline was given its final investment decisions. but i looked today, and i don't think that the start of a flow on the really reduce prices and having effect this coming winter. it looks like that you is going to be stuck and locked to do some pretty high prices throughout the winter, particularly once we hit january, february and the reserves get increasingly depleted. now octavio, we know that norway has said that it would increase its exports at the same time. we're looking forward to the north stream to pipeline. but how does that pipeline play a role in this shortage and in it possibly continuing into the winter? well, i think central wilson grew pipeline. bear in mind, t

ah, welcome back in the face of an ongoing energy crunch that is taking its toll on europe and asia. russia is again denying allegations that it is using energy as a weapon. a group of the law makers has gone as far as to call for an investigation into the russian energy giant gas prop. as they allege that moscow is behind the skyrocketing natural gas prices, in an effort to push for the certification of the north stream to pipeline. however, russian president putin argued that europe is not paying attention to reality during an energy conference on wednesday, he noted that russia has always fulfilled his obligations to europe, even at the height of the cold war. russia, as deputy foreign minister also said in an interview that moscow wants to work with europe to achieve energy security. and he revealed that guy's prompt has already started using supplies from its own reserve, in an attempt to help stabilize the market. morgan stanley has upgraded china's property sector to attractive, which is surprising, considering how worried investors are, as they are closely watching, to see wh

i think what's going on is a political dance in europe. the reality is that the europeans, and there's lots of evidence for this, are wondering whether they are alliance with the united states, which is traditional, which is counted on, can be sustained in view of the enormous importance of their dealings already with china. and the reality which they all know that the chinese economy for 20 years has grown 3 times faster than the american. and they're wondering which way to go, but they don't want to make a very difficult choice. so they cut the deals with china to keep that going, and they go through this little bit of theater. we just saw about competition and lots of money and we're going to do it. they're hoping thereby to keep the americans happy. but it's a temporized kind of action. i think you're going to see it does integrate in the months ahead. is certainly does seem like with kind of trying to perform some sort of juggling act. and it's interesting because you hear from some of the officials, they're talking, they're arguing t

and with europe heading into winter expect natural gas prices to get even higher. now the question on everyone's mind is, will the astronomic energy prices carry over to the u. s? and the answer to that portion will alternately depend on what a winter weather brings. but the good news is that the u. s. is the world's largest natural gas producer, and inventory levels are not as depleted as they are in europe. but that's not to say that us prices won't be volatile. just take a look at the current oil prices, which has made gasoline prices. sky rocket, and with old pagan not increasing, supplied. don't expect gas prices to come down any time. brant rachel? r d corresponded, sighed savage. thank you so much for following the story. tell us, take a further look at those oil prices, which stayed at 7 year highs on monday with west texas intermediate surpassing $81.00 a barrel. it's the latest in the series of skyrocketing energy prices that are now causing concern about how they could impact the state of the global economic recovery. so joining us as co host kristi i an

get some competition from europe. we'll take a look at the latest plan for a global gateway project and whether it will be taking off anytime soon. plus natural gas prices are skyrocketing in europe, storing 35 percent in the last month. but will it be enough to get germany to clear the north stream to pipeline before winter is here? and since it began, the role of social media has been the democratization of the public fear where all voices can be heard equally. but recent revelation from facebook may show that some users, while they're more equal than others, with fact. so today i've read it and we leave the program with the european union's counter to china's belton road initiative. european commission president ursula, vendor land wide ranging state of the e would dress wednesday, covered a number of issues including the cobra. 1900 economic recovery, improving the black status and technology and developing defense capabilities. but another matter that stuck out was the push for the e. u to launch a global gateway

now let's go over to rachel for europe in the americas. thanks, fran. it's more of the same here as we start in the u. k, with the green arrow for the foot. see the index is out nearly one percent for the week with heavy weight minors and bank stock leaving the gains. however, the bank of england is already warning. markets could be improved sharp correction in the near future. if investors reevaluate the progress that has actually been made during the recovery nearby, the german docs and the french kac ended the week in the green. this, despite both taking a hit on friday, as soaring energy prices, keep inflation at 13 year high. the use energy commission is now saying the has enough gas in storage to last through the winter, but it is calling on individual states to provide relief to consumers as prices continue to rise across the atlantic in brazil, the best buy is up this despite new report showing annual inflation in the country has hit double digits for the 1st time in over 5 years. brazil central bank says it believes inflation peak in september

now if you take energy out of that, you basically hop the europe innovation down to $1.00. so that mean energy prices in particular, natural gas which went up about 15, but just in august, a driving inflection more than anything else in europe. so the prices of the place and food and vehicles and reynolds and things. and that's all because subdued rate . energy is when you're striving natural gas. so it's a councilman, half of the place level in the european continent that's quite strong to see that. and i probably, you know, a lot of times when we talk about cor inflation versus overall inflation, we take those energy and food prices out. and that's because energy obviously fluctuate as demand fluctuate due to different season. but in this situation, when we're actually looking at kind of a shortage, should that we take more into account in inflation when you're trying to kind of decide policy based on that? well, i think policymakers like to take any price is going to make it look like reflection on there's a lot increasing this quickly reality. so yes, once you take out

always managed to deal with the rest of europe. and with the you, those agreements could be given an extended every single one of them to the british right to the, to the u. k. and when i say you k, i mean northern ireland as well. and those are called a sanatorium photo sanitary re relations. and those pertain to everything veterinarian veterinarians cover with regard to meat products, which is of course sausages, and everything to do with any meat products. those could be extended, bought, it would take the u. k. the british agreeing to the rules and regulations under the e. u. which they don't want to do, and it would mean the e, you agreeing to just basically duplicate those rules and regulations, which they don't want to do. the 2nd option would be to have the same thing that they have. the you also has with new zealand, which would be to agree to common high standards, which you already has with the, with new zealand. now actually there is already in place that was great to 2 years ago. a what is called a common agreement. an

a boy in washington coming up with global and trust efforts have scored a major win in europe as grant has hit and google with a huge fine over at advertising practices straight ahead. we take a dive into the latest ruling and what ripples that could have throughout the tech industry. then we look at new efforts from g 7 nations to crack down on a tory tax dodging firms. we bring you analysis of the proposal from the group of the world, the wealthiest country and china as important numbers have served as a globe, has begun to recover from the economic damage of the coven, 1900 pandemic. later on we break down the latest figures and what it means for transportation for trade were day, was that right it and we leave the program with a new find issued against google by, for instance, anti competitive watch doc. now this find costing nearly $270000000.00 is for google abusing its quote dominant position in the online advertising business. isabelle, the silva, president of the french competition authority, said in a statement. the decision is the 1st in the world to look at the complex alge

now let's head over to rachel to see how things are shaking out in europe in the u. s. thanks. ran here, we start in london where the 50 is up fueled by strong earnings throughout the week . on tuesday alone, b, p saw gains nearly 6 percent as they beat earnings. all of the bank of england says it will leave monetary policy unchanged for now. the central bank did say it is looking to mean the economy office stimulus measures that were put in place at the start of the pandemic. all forecasting inflation will hit 4 percent this year. now nearby the french cack and german docs are also in the green. still looking at some of the same factors we just talked about amid earning season. now, german conglomerate bison crop on thursday announced it had agreed to sell off its infrastructure unit for an undisclosed b, as it looks to restructure. and french stocks were mostly flocked to close out the week. but diagnostics for euro fins did see shares pop more than 10 percent on thursday after reporting record earnings for the 1st half of the year. and here in the us, markets are als

such as france and italy for i am right now an eastern europe that continues to be more at odds with the united states. countries like poland and hungary reporting for boom, bust and bins one the time now for a quick break. but when we come back, the united states health care system has recently registered. it is one of the worst in the developed world with costs going through the roof. we'll take a look at what the future could hold as we're going to break here, the number that the me one of the worst in a mess. shootings in america was in las vegas in 2017. the tragedy a close a little of the real last vegas, where many say elected officials are controlled by casino loaners. the day gets shooting, revealed what the l v m p d really is. and now it's part of the spin machine to the american public barely remembers that it happened, but just shows you the power of money and las vegas. the powerful showed that true colors when the pandemic had the most contagious contagion that we've seen in decades. and then you have a mayor who doesn't care. so here's caroline goodman, offering the l

has said it would publicly drop its opposition to the project, whereas allies in europe are concerned. the buying, the administration confirmed it is moving forward with sanctions against a russian ship and 2 companies involved in the construction of the pipeline. the deal between the u. s. and germany was meant to address concerns from countries like ukraine and poland, which said they stand to lose billions of dollars in gas transit fees when they're bypass with the new pipeline. even so you cranium, president vilicki said he still views nordstrom too, as a dangerous weapon. yes. about the north korean to question i consider that i consider that not to notice that it is a dangerous clip and not only for you frame, but also for the whole of europe. i consider that it seems to me, it is wrong, not to notice that it is a weapon, which a crane will not definitely talk about more thing to an economic issue. that's why i think, to angela that even now when the nord stream to is unfinished, we can see who controls gas prices in europe. almost. the deal with the u. s. also forces germany to

and for those, you don't know, it's much more in europe, much more regulated. how say something like ober works than it is here in the united states. i know in the alone, even the drivers have to go through actual psychological tests as well as driving tests to make sure that they're capable of driving. i think similar to the way the taxes are there as well. molly barrel of america's lawyer. thank you so much for your time. thanks for and and the united states is poised to be the world's top destination for foreign investment this year, and next, according to projections from the united nation. now in 2020. as the cobra, 1900 pandemic ravaged world economies of the u. s. a. 40 percent drop and investment from overseas. meanwhile, data from the un conference on trade and development said overall overseas investment by businesses around the world fell by nearly a 3rd last year. now the rapid economic recovery in the us with the federal reserve actually projecting a 7 percent growth in g d p. this year is playing a major factor that along with trillions and stimul

and their experience of getting through this pandemic might be different from what people have in europe the united states the rest of russia but it's hard to tell that it didn't work out at the end of the day so this is it were a flight out of back to moscow and what that means well for one that means that i have to put my mask back on. when we watch movies that i think they typically make us worry about the wrong thing they make us worry about robots turning evil you know what the real threat of the past artificial intelligence is long but it turns evil but just that it turns very competent but has goals that are not aligned with our goals. so what we've got to do is identify the threats that we have it's crazy from day shouldn't let it be an arms race is on the off and spearing dramatic development only really i'm going to resist i don't see how that strategy will be successful very critical daryn time to sit down and talk. business boom bust the one business show you can't afford in this i'm rachel blevins in washington coming out here up is imposing new prescriptions on vaccine expo

explain what is actually happening in europe currently. yeah, well, you know, we've been saying kind of tongue in cheek here for the last few weeks and months that winter is coming will now winter is here, right. the, the temperatures are in europe are falling dramatically. that means the need for more energy for heating is on the rise and the price of natural gas is on the rise . this. and there's a couple of really important points here. you mentioned about, you know, $300.00 euros per megawatt hour is what most countries are paying. but some countries like france or pay even higher than that closer to $400.00. and here's what's really incredible about all this is that europe has been for several years now. been buying their energy on the spot market, which means they don't have long term contracts a long term deals. this is been a huge criticism that russian president vladimir putin has had about europe. he criticizes the fact that they refused to sign long term deals with russia in order to bring down the overall price of natural gas.

to new locked downs that are being imposed across europe, including in austria. and as a result, as i mentioned, it's been a rough week for markets. let's go to the u. k. first, where the foot c was down. this week the lennon exchange fell really pretty much all week long, but especially thursday and friday with much of the market responding to again that news that of austria of new lockdown and mandatory vaccinations for everyone in the country. it was the same story for the german dax, the french cack, which also watch markets drop, especially at the end of the week. the keep in mind, germany may be the next shoe to drop when it comes to renewed locked downs. germany's health minister did not rule out its own lockdown measures. moving over to south america where brazil's able best buy was also down this week, brazil's rio loss, one percent after a larger than expected rate hike, disappointed traders looking for an even stronger action by the central bank, heading over in north america. now, a little bit of a mixed bag this week, compared to europe, some north a

i think that's what you're going to see across europe and across across the u. k. well, natalie is make it easier because you will have less transit time was. you'll also be a little bit more easily communicating your issues for sure. and that's how the local businesses, they go to localisation. and now we've often talked to you obviously about the prospects that economy in the u. k. and it seems like when you look at this and her kind of rain, the alarm about globalization isn't the kind of what got us into breakfast in the 1st place. they were saying we want more autonomy in our trade in our economy. i actually find it somewhat hybrid, the, all the global as to now land, boston and globalization. because yes, there are many issues with many issues that make it not work. so with regard to the u. k, of course, yes, the more trade deals that the u. k. dog out of the autonomy that they now have, the more they're doing the opposite of what just said, they're not putting all the eggs in one basket that diversifying that going across the globe. the e. u isn't doing the

then there is a europe that's battling a record breaking surgeon energy prices. now for europe and mix of market geographic and political factors have formed into a perfect storm that shows no signs of slowing down. and it all started with e use promise of cutting down on his long time dependency on fossil fuels. but natural gas and coal still supply more than 35 percent, or they use total energy production. and while cool is being a phased dad, europe is currently relying on natural gas as a transitional resource, y, cleaner alternatives. there being rolled out, which in turn has made the price of natural gas also skyrocket at a price hike of more than 360 percent in less than a one year. now to give our viewers a better picture of the price spike in natural gas, it's actual equivalent as if the price of crude oil were trading at about $200.00 per barrel. and with europe heading into winter expect natural gas prices to get even higher. now the question on everyone's mind is, will the astronomic energy prices carry over to the u. s? and the answer to that portion

ah, the math is in wounds europe against trying to reach carbon neutrality. it rushes expensive into major gas prices. in the u, the russian president also blamed europe's preferred method trading, making it vulnerable to the current surging prices fall within the u. s. cell phone lines emerges, some member states increasingly sing, read over these determination to go green and so on. i think the santa marine faces potential trial for daring to criticize president bonds, africa pull out despite another officer being hailed a hero, 2 years ago were attacking donald trump.

that have but look what's happening in most of europe we've got lock downs everywhere. cases a surgeon going with variance all over the place it doesn't look like this is ending any time soon so i don't think the cruise lines will recover even if we see things go back to normal and i know as well there's been a lot of talk about consumers investing their money in different stocks wanting to get in the stock market whether that stimulus money or otherwise how do you think consumers spending that money if they're not spending it on wheels or are they saving it and just making sure that they can survive. i think that's what we've seen we've seen the savings rate go through the roof so people are setting that aside which is absolutely the right thing to do if you're in such an uncertain environment we don't know what's going to happen really you know you shouldn't be out buying things or remodel your kitchen and things that i mean should be investing in real estate in the stock market or just saving it so that seems to be the absolutely rational thing to do that we've seen

there was truly, we've seen natural gas prices in europe, go through the roof only in europe. so that's not been the case as much in north america with asia. the gas pipe very much, much more muted that that's to do with sort of the local demand supply in europe. and i think that will work itself out. the tick is mostly into the pipeline comes on line. that should work itself out eventually. but yeah, we're seeing basically power country shortage is all in this place. i think what we're seeing is sort of all the conversations that we've seen pumped in the market leading to much, much higher prices. right across the board for everything. and people just starting to adjust to that and they're not willing to pay the much higher prices for the input. the trying to hold back and say, i'm not willing to pay 20 percent more 30 percent more from stuff i used to get much cheaper than the part of that's going to have to change. you're gonna have to bite the bullet basically, and that, except the inflation is just gonna be part of the landscape from time to come. yeah, it really does see

now let's go over to ben for europe and the america here in europe. overall, it was a positive weak. most of the european exchange, a saw a bump, especially on thursday, getting a boost after senate majority leader. mitch mcconnell offered a way to temporarily get past a looming deadline for the u. s. debt ceiling to be raised. as a result, positive news for the foot see which had a very good week. the london exchange is experiencing a boost from corporate buyback programs. it was the same story for the german dax and for the french cat, which also saw big games thursday into friday. moving over to south america where brazil's evil vessel is also up for the week, thanks to a strong performance by brazil real. the nation's currency rose on thursday as data showed service sector activity grew more than they expected, headed over to north america now and just like the european stocks north american stocks were up as well, mexico's b and v, the u. s. s. and p. dow and nasdaq, they were all up with a jump on thursday and then carrying through on friday on

mean for the embattled company, plus the drama surrounding the north stream to pipeline continue from europe all the way to the us. we'll tell you which leaders are begging germany if you cancel or not to give rely to the project that has been years in the making then in wage and has hit the digital sphere as online prices search to a record high. in november, we'll discuss the new wave of inflating hitting consumers during the holiday season . we got a lot in store started. we lead the program with an update in the chinese real estate saga. both china ever grant and kaiser group have been hit with the restricted default label after the company, mr. ki deadline for repaying their debt at the beginning of the week. ever grand, which has more than $300000000000.00 in liabilities, was given a 30 day grace period to make more than $82000000.00 worth of coupon payment. while kite them, if it's the deadline to re paid $400000000.00 bond. now, while both companies have indicated this week that they are taking steps to address the growing crisis and restructure their debt, countless questions still

why does europe seem to be the place that is really putting focus on these anti trust cases and actually moving forward with them rather than somewhere like the united states where these are actually the home countries of those companies? well, i think thank you, brent. i think there are 3 reasons. number one, it's quite profitable. the european union between 2015 and 18. find in this particular case, $9000000000.00 against google. that's very good. return on vesman for the e. u. anti trust division. so it's profitable and politically popular. europeans do not have comparable players in these markets that can rival these companies. and so the degree to which they are being punished reflects to some extent the, the fact that they are non european entities. i think the 3rd reason is that there is no doubt that in europe there are stronger privacy concerns among the public than seem to be prevalent in the united states. so once again, that bears upon the popularity of going author, these companies that are in the business of collecting and leveraging consumer data and been interesting, you

last 2 or 3 weeks the german government the most german economy and government and most importantly in europe as signed made sure to cooperate with china i think any trade war relaxation as ben says quite rightly is what almost everyone wants who isn't positioning in so for her so in some political limelight with strong i think biden has a chance to try to work out a live they let live relationship with europe with china and so on and it would be a terrible tragedy for the world if this opportunity were missed when a lot of people are saying are expecting at least president biden as a politician for so long to be at least more predictable not as abrupt as we saw president trump during the last couple of years and then one thing rimando did not make clear was whether or not to crack down on chinese companies such as while we're going to continue why didn't she emphasize writing about that well that's that's a complicated issue right if we as we've talked about before it is one thing to say we're not going to take as heart of a stance to listen i can support the idea of saying we're going to be