Cut their visit short r t correspondent sam on thursday ocus standing by to delve into the details of the choppy trade waters. To saudi aramco as i. P. O. Has been in question following attacks on the oil fields in the middle east monarchy rule of u. S. What holdings is on hand to drill into oil prices in the future of the would be record setting i. P. O. Were back to full strength and ready to bring you all d the Global Business news news you need to end the week lets go. Major tax cuts for the Indian Corporations leaves our global report today as a modi administrations finance minister announces an 8 percent cut in the base Corporate Tax rate the centex stock markets surge and close by more than 5 percent after minister some around the bend are now that 20000000000. 00 policy package indias base Corporate Tax rate was cut 30 percent to 22. 00 companies that do not seek Tax Exemptions will qualify for that base rate while those who do well pay a base rate of 25 percent down to. The previous 35 Percent Companies that start out between october of this year and march of 2023 will be offered an even lower base rate of 15 percent and while reaction was positive the sudden and dramatic move by the indian policymakers suggest that they saw a weakening in Economic Indicators that call for such a bold action as growth reached at 6 year low tax cuts added to a list of stimulus actions for 21000. 00 that already includes 4 Interest Rate cuts by the reserve bank of india. Meanwhile Prime MinisterNarendra Modi of india is headed to the United States for a weeklong visit that will include an appearance with u. S. President donald trump mr modi will address more than 50000. 00 Indian Americans at any event in our in our g. Studio in Houston Texas the events named modi will also be attended by President Trump as a gesture to cement the relationship between the 2 countries during the trip to the u. S. The 2 World Leaders hope to ease trade tensions between their large economies earlier this year the u. S. Had removed certain trade privileges afforded to india saying the country had not properly opened their markets to u. S. Goods the u. S. Hopes india will reduce tariffs on Certain Electronics and automobiles as well as opening the country to u. S. Agriculture and dairy products. Deputy level of china u. S. Trade talks head into day 2 in washington where officials are meeting to prepare negotiations for next months high level discussions in the 1st face to face meeting in nearly 2 months the worlds 2 largest economies continue their efforts to bridge the policy differences the 13th round of trade meetings are scheduled for october and joining us now with more details is r. T. Correspondents our month. Sure welcome to the show so when these meetings today basically who was able to get anywhere let me start by saying that the meetings are already affecting the market let me show you what the dow did it sunk basically it really took a steep turn this was an unexpected twist of events Chinese Agriculture officials were scheduled to technical to visit u. S. Farm states next week including montana but officials cancer just canceled canceled the trip to montana theyre going to return to china sooner than originally planned u. S. Secretary of agriculture sonny perdue confirmed that these meetings were to provide some or to at least have china build goodwill with the u. S. Farmers talks began on thursday and they were led by there were 30 chinese officials who came to washington d. C. Led by the feisty bice finance minister early on when he met with u. S. Deputy u. S. T. R. Jeffrey garish they were set to have talks about the agenda for the early high level talks that are scheduled for early october and those will take place and be led by u. S. Trade representative robert light hisor and u. S. Treasury secretary steven chu who will meet with chinas vice premier and on thursday a u. S. Commerce secretary told fox business that it remains unclear what china wanted will ross said we will find out very very shortly in the next couple of weeks what we need is to correct the big imbalances not just the current trade deficit so that both sides are hopefully working together to try to find some sort of deal so last week president from delayed an additional attack tariff on chinese imports scheduled for october as kind of a sign of goodwill is the u. S. Doing anything else while the u. S. Did delay that just last week and this week they announced that it will temporarily exempt 400 chinese products from tariffs that were previously imposed here some of those goods that will be a. Did including motorcycles rail car parts solar panels and some small merchandise parts like dog leashes and harnesses power tools and electrical tape also Christmas Lights on that list but last week Chinas Ministry of finance announced that announced it would exempt 16 a us product lines from tariffs including food for livestock this also included the the pork and the soybeans that the farmers are already suffering from from these these tariffs in the trade war that they used to sell to china but they are also said that they are committed to trying an attempt to buy more of these are products and sure you mentioned these higher level talks that are still i presume scheduled to begin in october is no word of cancellation but in light of todays awkward this what are the expectations now for those talks well i think as far as prior to this earlier today a Chinese ForeignMinistry Spokesperson said that they were pretty optimistic and reiterating that they want to ease tensions with the United States listen to what he said earlier today were going to your School Leaving trade war exhilarates the u. S. Loss of its share in the Chinese Market it harms the interests of the American Business community and its local economies in the final analysis it harms the interests of ordinary American People the u. S. Is harming both itself and others and loses more than it gains we hope that the u. S. Side can heed rational calls home and work with china to strive for a mutually beneficial and women win agreement on the basis of Mutual Respect equality and mutual benefit. So china had agreed to buy more Agricultural Products trying to leave some of the tariffs that were imposed supposed to be imposed october 1st as a sign of goodwill he said but this is a very critical time because right now we dont have word of any cancellation these talks are still scheduled for october early october between these these high level officials further delay would cost china even more tariffs that have been delayed it would there are still so many issues on the Table Including intellectual property theft which has been such a difficult one to tackle for both sides and with overall saying that its unclear they dont understand what china wants i mean china i think has also been clear in saying lets remove all the terrorists right now and then maybe trump will well exam more tariffs like he did with the 400 items but were getting closer to the 2020 u. S. President ial election so this is a very critical and vital time for president even if not a full deal is made maybe a partial one and looks like somethings got to give and soon archie correspondents are among those joker thanks for joining us. In short term rental giant air b. N. B. Said it plans to go public in 2020 making it one of the most high profile countries to play in an i. P. O. For next year air b. N. B. Announced plans via statement on their website thursday big a few details on what to expect speculation is it will be a direct listing meaning no new shares will be created in the offering 2019 has been marked or marred by companies in the socalled gig economy going public and lifted high profile i. P. O. s but have since traded well below their initial price while the company has not been forthcoming about their numbers for q 22019 air b. N. B. Did announce more than 1000000000. 00 in revenue for the time period the company also said they were in the black 420172018 before interest taxes depreciation and the more. Its been a rough week for the Global Markets as the fed lost control of the very benchmark rate that manages the overnight monday markets spiked on monday forcing the fed to jump in with the m o and reigning it in on friday the end why fed conducted its 4th consecutive repo operation as pockets of illiquidity still remained the bottom line is that we still dont know what turbocharged the markets funding problems on monday which means that this very likely will happen again volatility is here to stay so lets see what happened to the rest of the world over in russia the most end of the week flat slightly down as russia and ukraine failed to reach a new gas transit deal talks were said to be constructive and that they would meet again to try to find an agreement before the current one and in january over in japan the nikkei rose less than one percent for the week as investors cheered the stimulus unleashed by the Central Banks the b. O. J. Kept its Monetary Policy under changed though it hinted that it could cut deeper into negative territory as october meeting meanwhile mr b. She corp japans biggest Trading House by revenue announced a rogue trader had lost 320000000. 00 in unauthorized crude Oil Derivatives and had disappeared this is the 1st loss of its kind in mitsubishi is history and authorities are currently investigating the transaction over in shanghai the composite dropped by their most in 10 weeks unconcerned that policymakers were not doing enough to arrest the decline in the nations Economic Growth we saw a huge drop on tuesday as traders had anticipated aggressive monetary policies to kick in after a bad ugh the august data print but the p. B. s c. Refrain from lowering the rate on m. L. S. The market came back a bit on friday as the banks cut the one year prime rate by 5 bits and then the week down 1. 2 percent. Over in hong kong and in the wee down 3. 4 percent as the worlds worst performing equity market as under arrest continues hedge funds and short sellers have lined up their bets against hong kong billionaire george soros who has successfully brought the thai baht had sold short 200000 saying Index Futures and might have lost up to 2400000000 the 1st 2 weeks of september the bears are now betting that the protests will lead to capital outflows Interest Rate increases and eventually the Hong Kong Government will have to give up its currency peg over in india the central bank just 20000000000. 00 of Corporate Tax cuts and an effort to stimulate the economy it pulled a page right out of trumps playbook and brought indias Corporate Tax rate to one of the lowest in asia 2nd to only hong kong unlike trance cut this one will be entirely funded by the Central Banks remittance of cash to the government the sensex rallied as a result finishing the week up 2. 2 percent down in australia and up for the week led by energy and financials Australian Shares are now on track for a 5th straight weekly gain as an october rate cut by the countrys central bank appeared to be more and more certain now following the weak domestic jobless claims and by only all shares in south africa and the down as a report rate is unchanged at 6. 5 percent this by the fact that there is clear economic signs about growth slowing down moodys skip issuing an assessment on as a sovereign Credit Rating on friday and they are the last of the big 3 rating agencies to have not downgraded as say to john just quite yet daniel for the rest of america and europe. Starting as we do in france is this week after a study klein that started on tuesday one trend youll see across european exchanges on the market this week is movement after the action on Interest Rates by the us. Served on wednesday after markets closed that fed action of course loosening action by the e. C. B. Last week on thursday the 1st trading day after that 25 basis point cut in the u. S. Federal funds rate they kept was up more than 4 tenths of a percent and the dax in germany jumped a quarter percent on the same day the footsie in the u. K. Unfortunately not invited to that party down for the week while the dax and cac are up for the week crossing the atlantic to reach the americas ibo best but is up for the week and theres also an Interest Rate tie in this outcome as the Brazilian Central Bank also acted on wednesday cutting its benchmark Interest Rate the sell it by 50 basis points to 5. 5 percent and another cut is widely expected in 2019 in mexico the b. M. V. The mexican bolsa also for the week reports of increasing optimism there on passage of the new nafta the us m. C. A. Free trade agreement those hopes may be justified or not but they seem to be helping in the market in the homestretch coming to north america all the u. S. Exchanges on our big border for this week would it seem to pivot on that fed action on wednesday and finally and serato that also for the week speculation is growing there that that the Canadian Central Bank will follow the feds lead and cut Interest Rates soon as candidate begins a Campaign Season into their National Election on october 21st and this has been your weekly global stock market wrap. Time now for a quick break but stay tuned because when we return saudi aramco i. B. O. Has been in question following. The olds in the middle east monarchy rule of us holdings is on hand to drill into oil prices and the future of the record setting i go and as we go to break here are the market numbers. No. You can sleep. With. Something. Youre going to look at to show. Me shes on that. Model mouthpiece down at this time i dont. Need to promote. More 50 feet to compete with the little feet of people who were. Made of Interest Rates are telegraphing a drop in population if you look at forest consumption in the present to feed the bodys game that means this generation will have to be sacrificed and so you know humans have not really psychologically evolved from the days when i just used to outright. For the gods or their books or a generation c. For the policy. But if she warned you and i do. At the bottom or in the. Region you see me. And about that. Means that its a ball. A lot of. The. Cabinet. Welcome back saudi aramco is pressing on this week with banker meetings about its planned listing of the worlds biggest i. P. O. Although some investors and analysts still doubt it can meet its timeline after the weekend attack on Oil Facilities the recent developments highlighted the potential vulnerabilities of saudi aramco as key infrastructures and raise questions over the appropriate level of risk to be factored into the valuation to shore d up its anchor investors saudi arabia is reportedly pressuring wealthy nations to take part in saudi in the iran go i. P. O. Helping to ensure a successful sale many of the families are being pursued in saudi arabia as investors are also part of were also victims of a crackdown in 2017 when members of the saudi royal family were imprisoned in the Ritz Carlton Hotel ritz in riyadh is nervous about the deal of the century as the crown prince mohamed wants the state oil company to be valued at 2 trillion dollars but many doubt this target valuation aramco make take months to restore its oil output after about 5 percent of the worlds oil supply was cut off by the attack. Now to bring us the latest on the state of the worlds oil market is rick will chairman of Sprott Us Holdings so rick saudi aramco hopes to achieve a 2 trillion dollar valuation but analysts and bankers are now saying that targeting that 1. 00 trillion dollar range is more reasonable so it seems like this i. P. O. Is crucial for prince mohammads and his plan to diversify the saudi economy and an era of pretty low oil prices so why are they planning on utilizing the additional funds far. I suspect that we need to take him at his word with regards to that some of the money will be spent internally in saudi arabia trying to diversify their economy doing the sort of thing is an example thats been done in the United Arab Emirates also some of the money i think will be built will be used to do related businesses chemical and feedstock businesses fertilizer businesses other businesses where saudi has direct competitive advantage the princes also said that a substantial amount of the money that will be raised will be to increase aramco specific abroad in refining and marketing and distribution locking in additional components of the value stream created by their upstream activities and submitting their position in other markets. I think the other thing that this does is it really helps the crown prince bring that economy into this century make the economy make the company much less opaque than it is now and give the company the give the country pardon me both the capital and the willingness to open more than it has traditionally been and rick these attacks last weekend by apparently by drone who can militias have taken credit for that for them have taken that shake in the confidence of investors but saudi aramco still says it had no impact on revenues in the last output can be restored by the. End of this month do investors believe this and on this bombshell report here if things are so good why would riyadh have to be strong arming coercing or bullying wealthy saudis within the country to support the i. P. O. Under these conditions can this deal succeed. I think the deal can succeed but im not sure it can be it can succeed at the 2 trillion dollar level leslie decide to raise less money and just go to Strategic Investors in other words i dont believe that they can accomplish all their goals raising as much money as they want at the pre Money Valuation that theyre looking for with regards to saudi production i think that the saudis probably have enough spare. Production and processing capability that they can restore production to priya tac levels in the 4 to 6 week timeframe but i think with this prediction ignores in terms of the around cofinancing is that heightened tensions in the middle east particularly tensions across the strait of hormuz between sunni saudi arabia and shia iran point out to other strategic difficulties if we had a circumstance where the hostilities became more intense between iran and saudi across the straits of hormuz and you had an interruption of the export flow of persian gulf crude both the raining on and saudi i think youd see sharply Higher Oil Prices and i think youd see less confidence in the region both in terms of saudi production and iranian production on a global scale i think that would be very difficult for the remco offering and i know that well know a roll of toilet paper over im going to be shot a lot of 320000000. 00 in an authorized transaction that he disguised as legitimate hedges for our customers so these large losses started to accumulate tends to lie as the price. The oil plunged and now the trader has disappeared pending further investigation so how did Something Like this happen. The Oil Derivatives market in fact all commodities Derivatives Markets are extremely opaque that is theyre not normally quoted and theyre also extremely volatile one can assume that the position that the trader took was some sort of hedged short position. Near term versus long term on price and that when the market moved against him that the Derivatives Market was 1st of all so opaque and 2nd of all so volatile that that trader he or she lost more money of the day than they had imagined in a much shorter timeframe than they had imagined the fact that the move against them took place as the consequence of an unexpected attack means that the difference in the oil pricing it will probably take place over a long enough time that the speculator wasnt able to unwind his or her trades in a reasonable timeframe you know weve seen other circumstances where traders made complex leveraged bets and were ambushed by blacks blacks one style events and certainly given the opacity of these markets and the volatility of these markets well see more and rick you mention those attacks in saudi arabia again. The United States the president. Directed the treasury secretary this week to increase sanctions on iran im not an expert on them but i was under the impression the sanctions were already pretty extreme was there any real d significance in that move was there any space left to tighten the screws. I think there may have been some room left the United States still manages to exert a fair bit of lets call it extra territorial sovereignty particularly in its ability to influence the swift Banking System and other countries ability to pay iran or be paid by iran particularly in u. S. Dollars i think the unexpected circumstance of this exercising of us extra territorial sovereignty against the Iranian Central Bank will probably be to continue the heyse the the process by which Foreign Countries who feel threatened by the United States diversify away from the u. S. Dollar particularly i suspect towards gold and. U. S. Holdings a rick will has brought us Holdings Thanks so much for your time always a pleasure thank you. And finally today marks an unprecedented Global Action on the most dire problem of our 21st century economy the race to transition to energy and other technology that does not generate Greenhouse Gases and contribute to human caused climate catastrophe among those millions were employees of some of the biggest names of our contemporary economy and Tech Infrastructure including Amazon Google microsoft and twitter workers at amazon organize under the name amazon employees for Climate Justice and said that 15000 of their fellow workers are amazon and another 700 google pledge to strike today to push their bosses to take action on climate but overall children and students were visibly in the lead today leading marches in number number of cities large and small across the earth famed teenage climate activists gretta sighted on twitter and estimate that 3000000 people participated in the day of action even before estimate turned out in north and south america. Thats just nice to see on a friday before we go into the weekend kids standing up to protect the earth so theyre dishing school essentially right in new york city i know they said any kids with parental parental permission will be allowed to attend the climate strikes with no tardies or absences on the road a good excuse to miss class for and thats a this by this time you can catch a boom bust on direct t. V. Channel 321 dish network down to 80 or streaming 247 on pluto t. V. The free t. V. App challenge to 79 or as always you can hit us up at youtube dot com slash boom bust archie see you next time. Well see themselves as dying swans in their dream. But only one in the cells will ever make it to the till. Theyre ready to give their lives for the chance to die on stage if only once. Not even broken wings capita. For generations at the memory. Ballet sweat and tears. The process of constructing this was to crank as a biodegradable scaffold which is porous and when this is inserted beneath the skin when the skin the suction over the scaffold over a period of about 6 months you have to shoot in growth investor or as i said occurring in other words the cells the mule in your body grow into the scaffold it grows its own blood supply and now this is fully integrated as part of my ob its a living part of my. Own. Little believe. This. Will be. Breaking news the u. S. Is sending extra troops and anti missile weaponry to the middle east they say to protect saudi arabia from iran. And identity crisis facebook claims its a just a platform in a legal case which could have a major impact on whats posted on the site. Also all screwed m. P. s want to pull the plug on the huge trade deal between latin america and the e. U. In the amazon all the european firms all working with companies linked to the destruction of the rain forest