sliding into the abyss creditors are debating whether they can add one to say venezuela from going bust we'll go to our correspondent for the latest also on the program the e.u. is chief negotiator says a two week although made him for britain to agree to settle its bill that has fresh figures show that might be light at the end of the tunnel for the u.k. and countries move forward on a transpacific trade deal without the united states while president trump pavel's the america first are genda during his asia trip. this is due to a business i'm pressed of hober welcome financial experts are meeting in new york to discuss venezuela's economic crisis the country is on the brink of defaulting on its debts with many saying it's not

a case of if but rather when the government debt currently amounts to one hundred fifty billion dollars then as well as one of the world's largest exporters of oil the plummeting prices and mismanagement have crippled the country. but bank note that symbolizes the magnitude of venezuela's economic crisis earlier this month the country's president unveiled the one hundred thousand dollars bill it's worth about two dollars. a year ago the one hundred bolivar bill was the country's largest but inflation has skyrocketed the only thing growing in venezuela these days some jest is the number of zeros on the banknotes everything else like food and medical supplies continues to shrink lack of hard currency has left the government unable to pay for imports the country's debt has become unsustainable president nicolas maduro is hoping to convince foreign creditors of his proposals for restructuring

it. i don't think i don't tell the investors of the world the holders of venezuelan debt i have the moral to summon them on one of them but thirteen to caracas and begin the process of refinancing and renegotiation of the external debt. he hopes creditors will extend repayment deadlines lower interest rates and even agree to cancel debt altogether if no arrangement can be reached the country faces bankruptcy cutting it off from financial markets and unable to borrow more money meanwhile for ordinary venezuelans the suffering continues. now for some more analysis let's go straight to wall street tarkus correspondent. well said it was venezuela has been embroiled in economic turmoil for quite some time what do investors think will happen near a default after all. we will probably know by monday what

will happen cristobal but so far investors and i point out that caracas might be instead default on its sovereign debt applied to remain current on paid advances adept and obligations and why is that basically because this submarine has a few hours as a broader greater risk and size about pedophiles as has for example oil characters and by protected them adore can keep exporting oil and getting those revenues for now been as well or owes money to wall street but also always money to china russia brazil and a multilateral lenders and furthermore experts say that any kind of default would not be a risk free domestically sense it could impact disability of materials inner circle now you mentioned some of the key players russia is one of them the country is holding a good chunk of venezuela's debt and has already signaled its willingness to restructure it how likely is that i disappoint greased over after several rounds of sanctions against even

a swell up from the us russia to renegotiate loans are tied to venice well as citgo refining subsidiary here in the united states it will need the approval from de obvious of our foreign arses control over the past three years or russia has provided caracas or with the financial assistance. of one lone a russian oil company rosneft again around forty nine point nine percent stake in seed go and as for now the usa government includes subsidiaries in its ban on deborah negotiations casa louise darrow in new york thank you so much for your analysis. britain's chief negotiator for bracks it's david davis says the u.k. will not create a border inside the united kingdom as part of a deal with the european union this follows talks with the e.u. counterpart michel barnier on friday in which the border with ireland was a key issue our new meanwhile effectively set a two week deadline for britain to agree to pay its exit bill before further talks

can happen this comes off as british prime minister to raise them a unveiled legislation about when britain will leave the european union which will be on march twenty ninth twenty nineteen at eight pm eleven pm brother local time here's what britain's david davis had to say after the talks there's no doubt that we have made and continue to make including this round significant progress across a whole range of issues across the board that may prove progress towards resolving some really difficult questions and that of course will continue to place between now and december. well first economic data did manage to shine a bit of light on the rather grim overall outlook for the u.k. should it come to a harbor exit british industry had the sharpest rise in production this year producing zero point seven percent more good sense of temper and it did in august according to government statistics the figures exceeded analyst expectations as

demand for british goods rose abroad a weaker pound has made u.k. exports cheaper since the brics it reference. earlier i asked our financial correspondent whether these fresh figures have proven the bracks a doomsayers wrong. of course the industrial output is a very important figure but also other things need to be taking into consideration just this week it was also released that the british inflation rate is at the highest point at the moment since april two thousand and twelve also housing prices a very important factor for the economy as well has not half not gone up again after the brics a referendum so with this latest news breaks that supporters might say that the end everything is going to be good for the u.k. but analysts here do have grave doubts about this then your cope reporting from frankfurt there are agreement put in jeopardy after the united states was through

earlier this year is one step closer to completion japan's economy minister told reporters that the eleven nation still committed to the transpacific partnership or t p p have agreed on the basis for a new deal but that work more work needs to be done he made the announcement during an asia pacific forum in vietnam among the guests at the summit was us president donald trump whose decision to withdraw from t p p called the entire agreement into question used the opportunity to lash out at countries he accuses of unfair trade practices donald trump came to talk tough on trade and he delivered at lining his position on countries this time unnamed he accuses of engaging in on one hand practices. they ignored the rules to gain advantage over those who followed the rules causing enormous distortions in commerce and threatening the foundations of international trade itself he went on to express his clear

rejection of previous free trade zones he said remains that don't benefit the us are thing of the past i will make bilateral trade agreements with any indo-pacific nation that wants to be our partner and that will abide by the principles of fair and research trade what we will no longer do is enter into large agreements that tie our hands surrender our sovereignty and make meaningful inforce me practically impossible tiny's president xi jinping couldn't let that slide and challenge trumps comments albeit indirectly by expressing his support for free trade. what's your solution here change over the last few decades globalization has contributed significantly to worldwide growth he told we indeed

it has become an irreversible historical trend. when trump withdrew from the trans-pacific partnership back in january its future was called into question but despite having their differences the eleven countries remaining appear determined to push ahead with this without the united states. i believe that that's the best way for us to regenerate well. and we've been for everybody concerned. now that america has taken the position to withdraw we respect that decision but eleven countries that by japan were trying to come up with new version just how the new deal will look remains unclear and the eleven nations have come up with the basis for a fresh agreement hammering at the details will be a bigger challenge. the virtual currency but current has dropped by eight thousand

dollars in value in just forty eight hours that's after hitting an all time high this week on wednesday the cryptocurrency peaked at over seven thousand eight hundred dollars after a software upgrade was called off that could have split the digital currency into well interest and bitcoin is still huge traditional investors are staying away fearing that government regulators may crack down on the currency. now the jedi knights of science fiction blockbuster star wars have been granted a new mission this name is planning a brand new trilogy of the saga the entertainment giant hopes that more interactive battles will call nerves about as moderate quarterly earnings profits were lower than expected and its t.v. cable and film divisions exactly when the new star wars trilogy will begin is not clear but disney's stock rose two and a half percent on the news in friday's trading session.

let's see if the forces with. the movie that wraps up a show as usual if you want more check out our twitter feed or our facebook page thanks for watching and have a great weekend. united

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