Thursday, 18 October 2018

Donald Trump: All the President's Profits | Fault Lines

As a candidate, Donald Trump railed against corruption on the campaign trail. And he used the perception of many Americans that their political system is rigged against them to win the White House. But as president, Trump has mixed private business and public duties in unprecedented ways.

Previous US presidents put their financial assets into a blind trust and sold their businesses before inauguration, to avoid the possibility of conflicts of interest. But Trump refused to divest from the more than 500 companies he owns under the umbrella of the Trump Organization. Instead, he put them into a trust and handed over day-to-day management to his sons.

"When Donald Trump said he was giving up running the businesses and putting it into a trust, I literally erupted in laughter. Donald Trump doesn't run any businesses, he is not a competent businessman. He leaves it up to other people. And furthermore, the trust that Donald set up, the sons have said they tell dad what's going on in the business," says David Cay Johnston, editor of DC Report and author of The Making of Donald Trump and It's Even Worse Than You Think.

"He can reach in and withdraw money at any time. Whether or not he has done so, we don't know. But this is not anything at all like a blind trust. This is like what you expect to see in a family business posing as a country," he adds.

The overlap between Trump's business activities and his role as president has given rise to allegations that he is leveraging his office for personal gain. These charges are laid out in a series of lawsuits, which allege that Trump is violating the Emoluments Clauses of the US Constitution, by accepting payments or benefits from foreign states as well as federal and state governments. The attorney general for the District of Columbia, Karl Racine, calls the Emoluments Clauses the United States' "oldest anti-corruption law."

With the attorney general of Maryland, Racine has brought a lawsuit (known as D.C. and Maryland v. Trump) focused on the Trump International Hotel in Washington, DC, and the payments or benefits from foreign and domestic governments the president may be receiving there.

Fault Lines examines how the president's business dealings may have put him in conflict with the US constitution. And in a fractious mid-term election season, we ask constitutional law scholars and international corruption experts why it matters for democracy in the US.

The Corruption Is Out in the Open

The idea that political donors expect a specific policy result in exchange for their contribution is the very definition of corruption—and my Republican colleagues have no problem admitting that's what they're doing.

Wednesday, 17 October 2018

Mapping Poverty in America | The Economist

America is the richest country in the world, but it also has one of the biggest divides between rich and poor. What can a zip code reveal about inequality?

Brexit Explained: We Need to Talk about Tariffs

Venezuela Crisis: Where Families Buy Rotten Meat to Eat – BBC News

Millions of Venezuelans have left the country in the last two years, fleeing the oil-rich nation’s economic collapse.

Shortages of food and basic goods, years of recession, soaring inflation and regular power shortages have left the country almost on its knees.

The government says those against the socialist President Nicolas Maduro are waging an "economic war" – but many within and outside the country blame his policies, combined with corruption and mismanagement.

One of the most affected areas is the state of Zulia, long known as the centre of the country's oil industry. The BBC’s Vladimir Hernandez is one of the few international journalists who has been able to report from the state.

Produced by Herminia Fernandez, filmed by Omar Garcia. Edited by Kelvin Brown.

US Tops List of Most Competitive Economies

How The Rising National Deficit Hits Your Wallet | Velshi & Ruhle | MSNBC

The federal deficit is skyrocketing, heading for $1 trillion fast. Ali Velshi and CNBC Editor-at-Large, John Harwood break down what it means for the country and your wallet.

Tuesday, 16 October 2018

Paul Allen on Gates, Microsoft

Lesley Stahl speaks to Microsoft co-founder and billionaire Paul Allen in his first interview about his upcoming book in which he criticizes his Microsoft co-founder, Bill Gates.

The Fall of a Retail Icon: Why Americans Stopped Shopping at Sears

The once formidable retail giant Sears files for bankruptcy protection. The company, which also owns Kmart, will continue to operate as executives try to reverse a downward spiral exacerbated by e-commerce. John Yang examines the company’s storied legacy and tumultuous fall with historian Jerry Hancock.

Sunday, 14 October 2018

Strategist: The Stock Market Will Pull Back 40 Percent from the Highs

Scott Minerd, Guggenheim Partners CIO, discusses his outlook for the markets as the Fed continues to hike interest rates.

How Will Saudi Deal with Stock Market Plunge? l Inside Story

The disappearance of Saudi journalist Jamal Khashoggi is hitting the Saudi economy. Stocks plunged almost 7 percent in early trading on Sunday, wiping out all the gains it had made since the start of the year. The fall comes a day after US President Donald Trump threatened 'severe punishment' if Saudi Arabia was found to be responsible for Khashoggi’s disappearance, but Riyadh warned it would retaliate if economic sanctions are imposed on it.

As pressure mounts on Saudi Arabia, several US media organisations and business leaders have pulled out of a major investment conference in Riyadh. What was dubbed "Davos in the desert" is supposed to promote Saudi Crown Prince Mohammed bin Salman's reform vision for the Kingdom. So, where does that leave all his plans?

Presenter: Imran Khan | Guests Khalid Al Khater, economist and researcher at the Institute for New Economic Thinking at the University of Cambridge; Naeem Aslam, Chief market analyst at ThinkMarkets; Imad Harb, Director of Research and Analysis at the Arab Center Washington DC

Saudi Stocks Plunge 7% on Khashoggi Fallout

Saudi stocks plunged seven percent in the morning trading on Sunday amid international backlash over the disappearance of Saudi journalist Jamal Khashoggi in Turkey.

Monday, 8 October 2018

How Worried Should the West Be about China? – BBC News

How nervous should the West be about China?

The vast nation is pouring money into Africa, taking over reefs in the disputed South China Sea, and engaging in a trade war with the US, raising Western concerns that a more assertive China could alter the power balance on the world stage.

BBC World Affairs Editor John Simpson has been reporting from China for 30 years. He returns to find fashion shoots, a driverless bus, and growing authoritarianism, as he explores whether China is a friend, foe or rival of Western countries.

New Book Details Brutal Working Conditions at Amazon Warehouses

Journalist James Bloodworth went undercover to write the newly-released book, "Hired: Six Months Undercover in Low-Wage Britain." Bloodworth joins CBSN to discuss the "dehumanizing" conditions he found at an Amazon fulfillment center in the U.K.

Inside Amazon's Working Conditions

"If you want to understand what a turn of the century 20th century sweatshop looks like, all you've got to do is go to an Amazon warehouse for a day." - James, former Amazon employee This is immoral. I will be asking the Occupational Safety and Health Administration (OSHA) to investigate unsafe working conditions at Amazon fulfillment centers.

UBS Goes On Trial in France over Tax Fraud

Sunday, 23 September 2018

Is a New Global Financial Crisis Imminent?

Economists Mark Weisbrot and Gerald Epstein face off to discuss whether 10 years after the Lehman Brothers collapse and the Great Recession of 2008 we are about to see another major financial crisis