in tears because we did our best but this will haunt us forever. it's a huge disappointment that we will struggle to comprehend. it's a tearful farewell for gigi buffon his tenure between the posts in one match shy of becoming the only goalkeeper to play in six world cups the dominant defender defined italy's on field persona for two decades without him italy's football future is in question. your children like chocolate.

with down. troops. as we go about our do you mean law of human rights or from the last one my. invisible hand. in the twenty first century starting december second on. growing strong the german economy continues its expansion over the last quarter what the gross based on the stellar performance last week talked to the president of the center for european economic research. and the fee for world cup twenty eighteen is drawing nearer time for russia to spend heavily to ready moscow for the

tournament. welcome to business things just couldn't be better for germany interest rates are low consumer confidence is high and the economy is growing and growing it's been that way for the past eight years the third quarter of this year though talked about germany's economy grew north point eight percent over the quarter before much more than analysts had expected and that's down to booming exports the made in germany brand is in demand worldwide popular with european neighbors again as well and finally and of course a long time coming investments are also growing fast the important machine building industry has made gains those firms now have cash in hand to spend on improving production and that. increased optimism for germany's economy as a whole with investment comes further economic growth and it's not just germany that's growing economies are looking rosy across the euro zone when we take

a closer look here spain has also racked up no two point eight percent growth helping to push up growth across the single currency area france and italy are somewhat slower but not so bad at north point five percent overall the average rise in g.d.p. across the nineteen countries of the euro in the third quarter is a comfortable north point six percent so rosy times the germany and the euro zone or other perhaps pitfalls along the way i'm president of the money time center for european economic research joined me earlier today in the studio and i asked him whether things are really as good as they look or whether the up be today could be deceiving. yeah it looks healthy and it is healthy so we are sincerely w. we asked financial market experts about their expectations assessment of the economy and both for germany and for durable they have

a very optimistic view again growth so it looks good for the europeans a german economy and so what what makes them so optimistic i mean when you look around you've got separatist movements in europe catalonia you still have the ongoing brics it negotiations that don't go anywhere yet business is a confident why you're mentioning those two can risk in there more so the election which is coming up in italy at some point will be a risk and we also have to take a look and see beyond europe american situation protectionism in the united states is a risk but it seems to me that it's a moment you know they are optimistic that politics and the voters will solve the problem yeah and for example we see tax reforms in ited states that could be improving for the economy so if they have a reduction in the in the text but it could also be the border just protection is out but there's an excise tax which is debated said would be a real risk for an economy like the german man which is so heavily depends on exports so you do see pitfalls along the way because i mean germany was been

talking about that now for years we're getting used to a strong german economy it's been like that for years companies have been posting record earnings also not just in the last quarter but we have seen very little investment how come it's good that investment is picking up if you ask companies so we make service with companies they took leave to reasons why they don't invest so one is too much regulations the burden of regulation is just wrong and the second one is specialist services so experts workers experts workers say aleck and that hasn't changed so that can't be the reason what has changed is that europe is doing well so drop is improving and that's good for germany as an export company explanation so it's good for us so so it's now because normally i mean certainly when you invest in. stock market you buy shares when they're low i mean if the economy is booming now is now the right time for companies to invest you know i'm not an investment consulting you know but for companies it's the key companies like

king. there's a lag in investment for a couple of years now so so i think they have to do more and if you see in the digital economy we are left behind so we have to improve and its economy is doing well and europe is doing well interest rates are low so you know knows the time to invest and if now is the time to invest is not also the time to raise interest rates. i know that's a subtle point but you see inflation is picking up but the inflation rate for the euro area for next year is. expected to be around one point three percent so it's not there where we would like to have it and you know job is improving but from a variable basis so i think we will still take some time until interest rate outlay so mr drug is probably a bit more patient than as well as him about their president of the mannheim center for european economic research thank you so much for being in the studio with us thank you. and let's get some market reaction right away go to the place where the action is and i do my loan is my colleague who is standing by at the franklin stock

exchange well we're used to a strong german economy by now what you say are investors they're still getting excited about such good data. well you know it forecasts so it did come as a bit of a surprise but not really it also comes off the back of months of good economic data coming out of germany investors can hardly be expected to brim over with enthusiasm every single time now of course of this a strong economic data also fueled a rise in the euro and as we know the euro tends to get exporters because it makes exports abroad more expensive so if you want strong exports made for strong economic data read for a stronger euro that in turn led to weaker exports so if you want to investors are quite familiar with this particular piece of market irony and as such trading was quite a bit thin today. would you mind just take out your crystal ball for us and tell us will this trigger an interest rate hike my guess just said probably not what do you think. i don't have

a one for i don't have one with me but i would tend to agree that you see these main rates of course is to maintain price stability inflation isn't where it is some are even saying about we won't even see a rate hike in mario druggies term all right general doom allowed there from the frankfurt stock exchange agreeing with the president. of the center for european economic research no interest rate hike in sight yet thank you so much. russia hosts the football world cup next summer and with just over six months to go into the first kickoff the countdown is on to make sure the city's hosting games already over the past two years more than one hundred streets have been renovated in moscow and more controversial a five thousand soviet era building blocks have been demolished leaving over one million residents to give up their homes and move into whatever the city chooses for them all to make sure the city is in fine form for kick off. it's just that she thought it over there i said. people could break their legs.

i'm staying here until you've taken care of it. and lexie belying is checking the progress of construction projects in central moscow the russian capital is investing one and a half billion euros to upgrade two hundred of their streams and roads and bike paths. they all have to be finished by next june when russia hosts the twenty eight thousand feet of the world cup we. were not afraid to be compared with of the european cities. only tourists and fans who come here. will be pleased with the level of comfort they find in moscow. that's a process that must be. modernizing moscow would be a far more expensive undertaking if the city hadn't brought in tens of thousands of workers from central asia most of these men won't see their families in kyrgyzstan tajikistan or is back is done for months that doesn't send any years at all but

we've got work in tajikistan but the pay is worse than here the pays normal and the technology in moscow is normal not like in tajikistan but there is work there. workers from the central asian republics generally earn less than russians that's also the case on the building side of the new terminal at moscow's dumb idea the international airport the airports expected to handle forty five million passengers next year on a par with major european airports to the story that is just nothing got to within twenty eighteen will have the soccer world cup a huge event. tourists from all around the world will be coming to russia by them so we need infrastructure to accommodate them such as soccer world cup comes and goes you know because the infrastructure will remain. the expansion comes with a price tag. around five hundred million euros total plan duration of construction less than three years work will continue through the upcoming russian winter to

ensure the new terminal can open in may. moscow is going all out to give itself a major facelift in the short time remaining until next year's kickoff. if you have a little bit of cash extra lying around and you're in geneva then go for it because auction house christie's is handling the sale of a massive one hundred sixty three karate diamond the gym was cut down from an even bigger rough diamond found last year in a mine in angola. if size matters this bling takes top prize even auction house christie's doesn't come across many rocks with these dimensions at one hundred sixty three carries this is the largest the flawless that's ever been offered for sale. for someone that's thinking about this outside of the diamond world how do you comprehend the size well it's the size of a matchbox now think about that

a matchbox that said diamond that's perfect in color white as can be called neatly flawless it's never been seen before on the giant diamond way to stunning four hundred fall carrots making it the twenty seventh largest ever found italian celebrity jewel of power needed one thousand seven hundred hours of concentrated work to fashion it into creation one a sparkling artwork of emeralds and diamonds christie's hopes it will raise between twenty five and thirty five million dollars at auction the only question is where anyone would dare to wear it without an army of bodyguards. that's a business update here and d w thanks for keeping me company.

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