Californians vote on ballot initiative to impose one-time tax on billionaires

This Tuesday, Californians are voting on a landmark plan to impose a one-time tax on billionaires to fund the state's healthcare system. We take a closer look. Also on the show: global oil prices fell sharply on the eve of the US midterm elections. This came after Iran said it was holding intensive talks through mediators towards negotiating peace and signalled that it was ready to reopen the Strait of Hormuz if the US accepted its conditions. Both Brent and WTI fell by around 8 percent.