and in europe. so right now with this trade proposal, the u. s. is trying to win basically, the new battle grounds, the new battle ground of tech. and by doing this, by saying that, hey, you have to choose either us or china, you're splintering this entire digital landscape. so that means i, south, east asian nations will be forced to, to the side. if they do choose to side with the us. that means china will withdraw all of their technology out of it. and not only will they set these countries back, but now this gives the u. s. ample room to bring in google to bring in facebook to bring all their companies in. so not only is the us trying to push china out, the us trying to spread their own influence by using this proposal as a leaping board to kind of spread their influence and favor their own tech companies. and kristi did this, china in its own right, have a recourse against that. i mean, beyond just saying, well, we'll pull back all that tech from, you know, say a country like singapore or something like that. is there any other recourse they

and is this just the beginning of a very long winter in europe? we're joining me now to break this all down our co host an investigative journalist, been swan. and hillary ford, which president of straw mark l l. c. then let's start with you here. now you recently told us that germany's regulator had previously stated the certification of north street. she would not happen in the 1st part of 2022. now russia, deputy prime minister has agreed. so the biggest question here is why is it taking so long? well, apparently the process is a fairly lengthy process in order to make this happen though, russia deputy prime minister also said that the process could be a lot faster than they're making it. it seems like politics is tied up in a lot of business. some of it has to do with russia having to set up a corporation inside of germany and everything has to be run through that cooperation. but that can happen rather quickly. the fact that it wasn't already set up, it's kind of surprising to me, but i think what we're really looking at here is you're lookin

yes, there is of awesome between eastern europe in western europe. europe. you're totally right though about the government's wanting to stay in power. you also have to look at who has benefited follow the money. the pharmaceutical stocks, the fangs, docks, 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 go to a conservative one in the u. k. got a left leaning want in the u. s. they want to stand 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, fewer 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 i an acrobat cross that he's a bulgarian political scientist. and he said, don't forget the eastern europ

explain what is actually happening in europe currently. yeah, well, you know, we've been saying kind of talking and she's 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 contract 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

we'll discuss what the energy crisis continues across europe, where prices are expected to remain high. we'll take a look at how the ne to pipeline could provide some much needed relief and why officials are saying it is still months away from being approved. then 2021 comes to a close, re take a look at the progress crypto current these have made and what regulation we can expect in the coming year. we have a lot to cover, so let's get started. we leave the program with a travel nightmare that is still ongoing for many thousands of flights were cancelled on monday, bringing the total for the holiday weekend to more than $10000.00 flight cancellations around the world. now more than a quarter of those flights involved the u. s. where airlines across the board cancelled hundreds of flights, leaving thousands of passengers stranded southwest airlines put the blame on a variety of weather, an air traffic congestion challenges. while delta united and jet blue noted increase in stopping shortages due to stick calls as the latest coban 19 variance spreads across the country. and while americ

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 they have 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 come to deal with china to keep that going. and they go through this little bit of theater. we just saw about a competition and lots of money and we're going to do it. and they're hoping thereby to keep the americans happy. but it's a temper rising kind of action. i think of going to see it does integrate in the months ahead. 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 a

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

there is no shortage of growing tensions in eastern europe. there is the growing e u barrier stand off over illegal migration. there are western reports. russia is amassing troops within its own borders, and of course, there is the self inflicted crisis of european energy supplies. it is no coincidence, some recalling this hybrid war, but whose hybrid war against whom i saw a message from an unknown account because it had to sell through with my passport as its profile page. i saw pictures of my documents. it was, they also sent a credit contract. i had just 3 days comply with their demands. if the, if i didn't send money, they sent out an online hate campaign that i was supposed to be very dangerous man . the us food and drug administration fights of freedom of information requesting court, asking that it be given 55 years to fully release redacted documents relating to the approval of pfizer coven 19 vaccine. you asked, court slams if that door is shut to an american tv station. after one of their freelance journalists was caught allegedly s

instead of literally carrying the gold out of the country somewhere in africa, back to europe or over to the united states, or ripping off the local people to make them work for next to nothing. you are now doing it with loans. you're giving them alone, you're greasing the wheels of the loan with large amounts of fees and commissions. and i won't even speak about the corruption that is going on on both sides. so you end up with very little of that money going into any kind of long term progressive economic growth. and so the burden of the debt is not matched by an ability to pay for it. so it becomes these crazy numbers that been just went over and this is terribly bad for these poor countries already deepens the in the qualities in the world and creates political and social instability that we will all be regretting every week and months into the future. and peter, i want to kind of make a counterpoint here that i think y you will have a great answer to here because could this global data issue result or should it for that matter, result in a d, stabilisation of currency so much that

russia's covert one team vaccine could soon be on its way to europe after an agreement was made with the swiss pharmaceutical company to produce sputnik fee at its facilities in italy that head of the italian russian chamber of congress called the agreement a historic event noting that it is the 1st of its kind with a european partner and this shows that italian companies can see beyond political differences while a senior official from the european medicines agency called on even members to refrain from approving the russian vaccine before it is fully reviewed by their staff the latest study published in the lancet medical journal found that sputnik the is nearly 92 percent effective. hours after hitting a 9 month low gold futures rose more than one percent to above $700.00 an ounce on tuesday as both the us dollar and treasury yields retreated this as concerns remain over inflation and what the federal reserve will do as the latest $1.00 trillion dollars stimulus package nears president biden's approval so joining me now to discuss is here schiff chief economist and global strategi

learn so the lockdown is a definite coming in europe. the going to come hard. chrissy points out of the low crowns will travel bounds in japan. those are things of spreading rapidly. the u. s . so far has been fairly unscathed through this and i think that might come in the coming weeks though. so yes, we're going to see more downs and they're going to have a very negative impact on travel and also some of the business as well. now we know that some of the central banks may be happy about that, especially if they're not ready to taper just yet, but it does create a lot of concern. now kristi, i also want to bring crypto currencies into this because they were included and that saw that we saw last week. so what do you make of the speculation surrounding bitcoin right now? and what's your response to those who say that it's not really an inflation head because of the fluctuations we have seen that move along with the stock market. i would say that just because something is an inflation hedge does not mean that it won't have volatility beca

ah, ah, ah, ah, i use the and welcome back. energy prices in europe are continuing to spark concerns as a perfect flory flurry of events are causing futures in the sector. despite with winter, quickly approaching on the continent, surging demand is threatening to send inflation even higher as vital gas prices in the region have tripled since the beginning of 2021. but demand isn't the only factor behind the rise and prices. abnormal weather events in europe and the united states have also damage the length of the supply chain with high demand already causing some businesses to halt in the region. some are looking to the recently completed nordstrom to pipeline from russia to germany as a means to ease the growing pressure on the sector. and a follow up to a story we've been covering in recent weeks, u. k. prime minister boris johnson warned that post breakfast trade disruptions in northern ireland can't go on forever. as analysts worn, the so called sausage wars could affect the holiday season. johnson also told reporters traveling with him to new york for the un general assembly. th

ah, ah french emmy p tells all tea to sell broadcasting, claiming there are enough useful idiots in europe to spread. the criminal alleged propaganda on the ukraine crisis. place book admits in court that is 3rd party funk checks and nothing more than opinion. feeling further allegations of vice and censorship on social media and an attack on the rule of law that would like to visit the cooling need. case proposed changes to his human rights legislation, which would make it easier to deport foreign criminals. ah . by that very good morning and thanks for joining us here on auntie.

mohamed cardo said the outlook for oil demand was looking more positive particularly in asia and in europe you have germany saying that they will start easing some coronavirus restrictions from next week so crude prices have been quite steady and the energy market is now bracing for more supply but these continued vaccination optimism as well as the global opening well likely limit most of the downward pressure with oil prices but analysts are still warning that the recovery remains very very fragile and what matters here on thursday is russia and saudi arabia the break even price for russia is much lower than that of saudi arabia so there will be a huge gap between the 2 countries moscow wants to move back to its normal production as quickly as possible assadi arabia wants to enjoy higher prices a little while longer and rather keep the market on a tight side and on the side so expectations are that the leave the market slightly short rather than in surplus and on it i got one last question before we go the 2 best performing sectors last month energy and financials are continuing the run

they're not going to sacrifice that for a big if the relationship with europe, especially because europe can get its own act together. britain 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 on to here. okay, 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

busy the russian government that this is an issue between europe and gas, prominent questions on this whole subject, well shouldn't be directed towards the kremlin. they need to go to gas prom h q to mr to serve. what is the reason for the decrease in gas deliveries via the mile? your pipeline with gas now going in the reverse direction. is there a link between a suspension of supplies the germany, and the north stream to pipeline it up? so no, there is no link. it's a purely commercial issue and it's up to gus prompt to explain the reasons well, when you look at the prices, it's clear to see why this is such a big su, $4.00 to $4.00 and a half time increases across europe when it comes to gas prices. as i said, huge demand for russian gas in europe at the moment, it had been hoped that the, the nord stream to gas pipeline would be able to, to slake some of that thirst for gas. the plan was that that would be able to provide as much as 55000000000 cubic meters of gas every single year, directly into germany, and then on towards the rest of europe. however, it's found itself snarled op

meanwhile, a dozen business groups worn late last week of an imminent risk of europe wide production shut down, as they only have enough of the metal to last through the end of november. chinese producers of course have cut output to save power and energy prices have skyrocketed due to the crunch. we've talked so much about in recent months. so what does this mean for the already strain global supply chain of the just let's bring in boom bus co hosted investigative journalists, ben swan. and john watched the dean of the miami herbert business school. thank you both for being here. d. quotes. i want to start with you how big of an issue is this magnesium issue and what impact could it have on the recovery in the u. s. actually in the block largest academy in germany, which is so manufacturing, industrial rely. yes, thank you. it's symptomatic of a very substantial issue. i would say that we are now in a global supply chain pandemic that has every risk of being as severe an impact on the global economy as the coven pandemic. the fact of the matter is supply chains off in a great state

noted that biden is hesitant to saying ssion europe's top economies because the u.s. is relying on them to rally support in efforts to counter china raising questions about whether those harsh threats will ever turn into actions joining me now to discuss is professor richard wolfe host of economic update and author of the sicknesses the system all right professor we saw that the bind in ministration has no fear of imposing sanctions against russia especially one as over these broad claims of election interference but why do you think they chose not to take action over nordstrom to. well i think they're afraid of offending the europeans for germany and other european countries the north stream project brings them and then nor missed important access to gas cheaper than any alternative that they could face therefore crucial to their economic presence and their future and frankly they don't like the united states telling them they should not do it they don't want to be dependent on high price guess they don't want to be told what to do if the feelings to listen to the pr

let's take a look at how this affects the already strained energy supply in europe. then we break down the virtual summer between the world 2 largest economy, president joe biden, and keesing things hawks are raising some hope for better time potential to remain closed that coin and other crypto currencies take a hit. as china ramps up, it's cracked down on crypto mining, calling it an extremely harmful practice to talk about the future of those digital point. we have a pack show today, so let's get to it. what we need the program with the fate of the embattled north stream to pipeline is set to transport natural gas from russia to germany. germany's infrastructure regulator, the federal network agency on tuesday, suspended it's certification of the project. it's a very big deal because as they say, winter is coming and the cost of energy is already sky high. now, while the pipeline has been the subject of geopolitical tensions between berlin, washington, moscow, and brussels, it's bureaucratic red tape has gotten in the way. the german watchdogs reason for delaying

has already delayed the pipeline would impose sanctions last year europe and russia remain committed and determined to complete the pipeline regardless of washington's opposition and they hope the u.s. president elect joe biden will be more open to compromise. time now for a quick break but when we come back we'll take a look at equities and concerns about raising interest rates too soon it could pop a stock market bubble as we go to break here the numbers at the club. join me every thursday on the alex salmond show and i'll be speaking to guests of the world of politics sports i'm showbusiness i'll see you then. as the trump presidency comes to win in the country stares into a political abyss divisions are deeper now than ever before and dialogue is almost nonexistent talk of compromise is deemed to be treasonous by many this will hardly change on january 12th. let's take a look at the market where all 3 major indices in the united states are slightly up on tuesday after monday's declines investors are watching a rise in u.s. treasury yields and the political turmoil in washington t

s. administration speaks of its intention to build up good relations with the key partners in europe. this is what he told a forum and st. petersburg quote. how can you build good relations with your partners and neglect their interests? this is nonsense and quote. well, as we reported the nor stream to wilson gas and oil directly from russia to germany, the u. s. opposes that pipeline, because it will bypass ukraine, which depends on russia's gas transit fees and makes europe more dependent. we're told on russian energy your shop of oliver is that the st. petersburg economic forum and has more the session attended by the russian president has become the main event of the st. petersburg international economic forum, which is now in full swing mister pictures folk in front of the business, lead top managers of the world's largest companies and corporations fios and heads of find around 2004 in gets here impacts and signing contract and building bridges . and just communicating mr. patient has made a big announcement at the for a few minutes. you wouldn't you? i am glad to announce that

i think that's what you're going to see across europe and across across the u. k. well, natalie, 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 local businesses they go to localisation. and now we've often talked, you obviously about the prospects, it 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 hydronic the old global as to now land buffet 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 tre deals that the u. k. dog out of the autonomy that they now have, the more they're doing the opposite of what it just said, they're not putting all the eggs in one basket. they diversifying that going across the globe. the e. u. isn't doing the same kind of

by the way it's happening in europe it's happening all around the world where massive amounts of money is being generated and spent and it's going to crash the economic system and maybe that's not even the sara lee a bad thing because the reality is this economic system is barely hanging on by a thread as it is and right now the u.s. isn't the only one relying a lot on stimulus packages improviser i want to ask you about that too because we know that countries around the world have been passing a large stimulus deals while holding down interest rates what is the chance that we will see global inflation and the near future. well you know there's a lot of the moves talk about that there's no excuse for that is it possible or we can stimulate the economy without an inflation that's why absolutely is it possible that this kind of money creation on a massive scale to try to save the economy will provoke an inflation of course the answer is yes too many other factors will determine which way it goes nobody can see in the future the idea that you want to pass this bill and i would disagree sl

one of the issues on the economic front is that, and most of what western europe depends on most of what the united states depends on, in terms of products. as you know, rachel is created in china. it's built in china and therefore getting away from that. it's very difficult to do that doesn't mean the united states shouldn't be doing that. but if you look at the policies of the us right now, what are the actual policies in place to make us less dependent on china? that doesn't seem to be happening on virtually any level at all. so that's a huge problem. and then the other problem, i think that you face when you do talk about this issue is, is invariably the fact that when it comes to china, china is taking a lot of steps right now to be couple itself from dependency on the united states, especially on u. s. investors, the us stock market valuation for companies, the expansion of chinese companies into western markets while still allowing western companies to come into china. and so the reason for that, i think is because they're continuing to create a corporate dependency on china as op

s. court, and should europe define and shoulder responsibilities for its own defense? and what about russia? mm. a little he and happy. hey. i know you said i had at bay but does not allow them to get the outside and by then coffee for sure. and i believe by then is a shift the a 1st amendment for 4th month of month. so it almost it was if you had been moved to pope multiple and ginger mac, i connect to. so that gives you how was the road, but we shall z o m a z n a from today law who can help with what? i can, the it's a button and how it man a philosophy on it this year. how and it comes in the say do or what a i was with i can now maybe maybe i'm not even, ah, the you leaders join nato and promising tough sanctions against russia and a quote high price for any escalation of tensions. and the break away don bass region of eastern ukraine. cnn fires a producer after he's charged with sexually abusing children. questions are now being asked as to why it took 18 months for the police to make an arrest. after a criminal complaint was filed last year. a new study finds th

maybe you think of the european union think what you wish, but europe is in crisis. it must choose between being in the ideological construct or a place with real people and real needs a a british m p is stub to death while meeting his constituents. the mom has been arrested in connection with the killing in southeast england. also ad on the program. today, a u. s. marine officer pleads guilty to criticizing the military leadership for the chaotic afghan withdrawal. he had demanded. senior leaders take accountability and that's as a bluff outs, a mosque enough. galveston kills at least 37 this friday, injuring scores more. it is the latest in a spate of terror attack since the us exit poorly for.

e is embroiled in a legal dispute as europe's media regulator. questions it's broadcast license ortiz management, stressed. the license was obtained in full compliance with european law. russia publishes a list of proposals to nato for maintaining security with the country is deputy foreign minister saying the ball is now in the alliance's court when it comes to de escalation. also we dig into disturbing revel.

europe everywhere around the world and these emergency measures like money printing agendas they reduce the value of traditional currencies like the dollar and while volatility still remains a big concern with wind it's still a very reliable hedge and it has proven itself to be worthy and a solid store of value during a time of crisis i mean just look at 2020 a year of crisis one of the biggest crisis is a modern history and what other asset performed as well as because. i don't think that it's a coincidence either that mass adoption by institutional happened in 2020 either these institutional they're smart money and they're the ones ahead of the trend so it's no coincidence that they witness this quintal comments in a time of crisis and then decide to jump on board one especially when you're hearing it being called a rival to goldman you're going to get a lot more pressure put on bitcoin and exactly where it's at now let's move on and let's talk about a theory of the number 2 crypto by market cap how has it performed during this week of volatility. well a theory has actually performed

neither has a couple of countries in europe. i think i think it's hungry and estonia, they haven't signed on because they have lower corporate tax rate. so what's gonna happen? nigeria also, i believe, and also think couple of the company countries. so only $130.00 of signed on. so water corporation is going to do. they're going to go to the other countries because of what we can do. interestingly enough though, shina had not find on in the 1st round and they have signed on now. so that could make a difference because the big prediction was most companies would flee and they'd go to china, but that is now being prevented. ok, well it'll certainly be interesting to see exactly what happens with this tax moving forward. excellent points to consider here. hillary ford, which thank you so much for your time. you're welcome. let's hope it's not a race in the bottom and it's been stopped. while we don't know the name of the mysterious auction winner, we do know someone else who are join. just phases is 1st flight in the space. 82 year

so 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 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 a big gains thursday into friday. moving over to south america, we're 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 thursday the tao rose 535 points

now let's go over to rachel for more from europe and the americans. think brent? here we start in the u. k. where the foot the is down. this despite rally on friday, after the latest data showed unexpected growth, the purchasing managers in next rose to 56.8, marking its highest points and back in may, thanks to gains in the services sector. however, the bank of england is now warning that inflation could hit 5 percent early next year. nearby the german dax and the french tac are both in the green, but europe's 2 largest economies are feeling the pressure of the ongoing global supply chain shortages. and both businesses and manufacturing have taken a hit as a result. and back producer price inflation in germany has not only reached double digits, it is now hit record highs. the pressure is on for the european central bank and its upcoming meaning to see how officials will respond now across the atlantic. in brazil, the echo vest is down. it has been quite the weak in the nation. as a central bank has expanded currency swap auctions in an effort to save the reality

we need our own version of the marshall plan, wherein world war 2, we flew all kinds of products to europe. we need to leverage our military to go around the globe and be bringing a lot of the products we're running in the shortages of here now. and let's start stockpiling those. i don't think the average individual realizes just how severe this really is. and now kevin, obviously breton, came in and he threw a whole nother wrench in the works of ideas here. what do you make of that, kevin? of all, not current international certainly could be activated to help there. so it will require both the governor and the national government to collaborate on that you would also have to look at other means of transportation like rail to help reduce the the backup at all. busy of the port, so those are shirt options that should be explored. kevin jackson, host of digital transformers that supply chain now and britain, lad, global strategy and supply chain consulting. thank you both for joining. it's fascinating conversation. we'll do it again soon. thank you. thank you. it's, i'm out for a quick break

hopes that the political environment is stabilizing and the recovery is ongoing now let's move over to europe and america is starting in the u.k. the footsie it's in the red the index recovered somewhat on thursday and friday but it wasn't enough to make up for the 40000000000 pounds in value wiped out made week over those inflation fears it's a similar story in the european continent the french cac the german dax they're both down for the week but rebounded over the last couple of days on friday the indices gave back about a half a percent and point 3 percent respectively across the atlantic to brazil the evo best is up brazil led the way for latin american economies as the real algate and nearly a full percent on thursday the currency was boosted by news the economy did not slow as much as expected in the 1st quarter implying the brazilian economy is moving despite the rise in code cases in the nation in mexico that it's also down on inflation fears this week the country's central bank kept rates unchanged at 4 percent however the board raised the inflation expectations for 2021 j.p. morgan

marks 200 years since the death of the public debate rages on whether he was a hero who transformed europe or a villain who sponsible for millions of lost lives. there is a full news program in store for you next hour but in the meantime here's the latest episode of stay with us.

now let's go over to rachel for europe in the americas. thanks brand. it's a different story over here where we start in the u. k. with the 1st the ending the week and the read, the office for national statistics revealed that economic growth has flowed drastically with output growing by only point one percent in july. then give england has yet to say whether the report will impact its future plans for the country. now nearby the german dax and the french kac down for the week therapy and central bank confirm on thursday. it is keeping interest rates near 0, but they created a bit of confusion by saying they weren't tapering, pandemic policies yet, while also confirming plans to slow down asset purchases over the next quarter. then across the atlantic in brazil, the best buy is also down. while the country faces ongoing political and economic turmoil, the government is maintaining high hopes for brazil's place in the world oil market after becoming the world 7th largest oil producer in 2020. the country is now on track to rank in the top 5 by 2030, and

new german language channel after europe's leading satellite provider removes it at the request of the country's media regulator ship, which we cannot tolerate its any longer. and we believe is unacceptable. situation will go on. we will have to respond to it. like a lot of also questions the impartiality of the ongoing.

with the current tension in europe is the united states. russia had to respond this every step. that's every step the situation was getting worse and worse. president coaching criticizes america and nato's eastward expansion, noting that moscow is.

mosque the putting toxic rhetoric over the role of radical islam at the heart of europe. can send up has been brought in to deal with the growing global rules.

in time which means the next journey around is going to be delayed up into europe and while the canal is also a transit point for roughly 8 percent of global natural gas the blockage will add to an already rising middle east risk premium for oil and refined products and analysts say the delays could increase shipping up to 30 percent and a pro long disruption could impact close to primarily the european market and then the cork comes out as almost like a ketchup bottle then you get both all the vessels in the queue and the additional normal vessels coming into the northern european ports at the same time. so the longer this lasts the higher the risk that we're going to see massive congestion problems in the european ports say a week to 2 weeks from now now experts say it's a bit premature to assess the full impacts arising from the incident but they do predict that within the near term the blockage is likely to add to industry supply strains causing further delays meantime experts are investigating exactly what caused the ship to run aground reporting for boom bust trinity chavez r.t.

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 or infuse, and harley davidson motorcycles. leader is from both sides. praise the agreement, calling it a quote, new era in relations 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 paying union jobs at home. and this marks a milestone in the renewed us partnership. and it is our global 1st in our efforts to achieve the di company thinks of the global production and trade. now this new agreement comes with one queer 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 production

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 or 25 years, not doing the spot market pricing. yeah. and certainly as interesting to see how long they're going to let this go on, especially as people are paying increasing prices in temperatures and getting more mer anytime soon as we go along with this season. now christy, as then mentioned, the leaders of china and russia will meet remotely. so how important is the you asked dialogue with specifically during the series of meeting? i mean that's 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, in the us are expected to be constructive

so how will that impact the us russian relationship once it begins to move gas to europe? well, i think the us backed off almost as a gesture of goodwill, but in doing so, it locked leverage there too. because if the entire goal was to advance efforts to counter russia in europe then was completely ineffective. so now the project will only deepen your energy dependent on mark gal and biden's intent was to not risk a transit atlantic risk with germany at the time when he's been trying to reach out to europe in allies. so in plain politics, you have to sacrifice a wrote to gain a bishop, not that it was particularly a strong leverage point either. i mean, the pipeline was almost pretty much close to completion anyway, so it was more of a gesture than actually doing a real favor. but now we shall be how it all plays out. because if europe becomes dependent on math for energy, then it would actually draw them closer and they'll keep their ties and perhaps they'll be closer to them then the us who doesn't really offer them anything they particularly need at this point in time.

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

now let's go over to rachel for europe in the americas. thanks, fran. it's more the same here as we start in the u. k, with the green arrow. 2 for the foot, the, the next is up nearly one percent for the week with heavy weight miners and bank stocks leaving the games. however, the bank of england is already warning markets could be improved sharp correction in the near future. if the 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 your high. the use energy commission is now saying the block has enough gas in storage to walk 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 above us. but is up this despite new report showing annual inflation in the country has hit double digits for the 1st time. and over 5 years, brazil central bank says it believes inflation p