the german economy is growing strong it continues its expansion over the last quarter but the question is will it last consumers or least are optimistic. also on the show after years on the brink of in a swim is sliding into bankruptcy ratings agency standard and poor's declared that since selective default. and investigators in brazil say floods are being helped the military dictatorship voluntarily another blow to germany's already controversial carmaker. it's time for business on the w m how you know to get us welcome more good news for the german economy it's been growing faster than expected propelled by strong exports and investments europe's biggest economy expanded by zero point eight percent in the third quarter that's up over the zero

point six percent in the previous quarter it joined spain as the fastest growing economy in the eurozone the average rise in g.d.p. across the one nine hundred countries of the euro in the third quarter is a comfortable zero point six percent. on the other side of the contrie end of the world better said we all knew it was coming and now it's finally here and as well have failed to make two coupon payments on monday and has now been declared in selective default by ratings agency standard and poor's it's also predicting more shortfalls president nicolas maduro had promised to negotiate a debt restructuring with creditors but apparently the answer he got was thanks but no thinks and eve of the country announced it started making interest payments on its foreign debt this tuesday most analysts are not convinced. it's venezuela running right out of money. the much awaited answer

a decisive government meeting with creditors ended abruptly after only thirty minutes afterwards participants talked of having listened to confused statements but no concrete proposals on restructuring the country's massive debt. instead they were offered colorful packets of venezuelan chocolate and coffee. as recently as sunday president nicolas maduro had said his country would never default and promised investors a good deal. but venezuelan vice president sammy wrapping up tuesday's proceedings with a press conference had nothing firm to say about his country's future on state controlled t.v. rather than laying out a plan he blamed the u.s. to venezuela's quandary talking of an economic war by donald trump against the country a few months ago the u.s. imposed sanctions on venezuela the e.u. hasn't followed suit but did impose an embargo on weapons sales to caracas the e.u. doesn't want to worsen the plight of venezuela's people who are suffering under

catastrophic shortages. inflation is running at fifty percent food and medical supplies are scarce. yet venezuela still hopes to pull through. there is. perhaps. a rise in the courts that venezuela could. restructure with russia. in the week an agreement with russia could keep the venezuela debt cliffhanger going for another few days at least. time now for a quick check on the markets where we saw reactions to bad figures coming from china let's bring in our financial correspondent in new york so if you get the new york stock exchange hi so if you get to see you well we saw these figures that are apparently bad enough to bring down some of the indices there how bad are the figures. you know will all three keep monthly economic indicators so industrial production fake acid investment and retail sales fell significantly

from september's reading and all were below market expectations i would say maybe we should just take a look at the numbers china's industrial output slowed in october the output at factories expanded only at six point two percent on year slowing from six point six percent in september and also the low a forecast of bloomberg news and the reason for that is that the earth already have their own torches have been trying to slow down lending and control air pollution at the same time and the seems to have knocked the stuffing out of the chinese economy last month. no sophie clearly these news where enough to bring the dow down and it also broke a winning streak is this just a short term reaction or is the beginning of a correction. well a correction would a mean the market would have to fall ten percent from its fifty two week high so

there would kind of be a lot also there are good reasons right now for the current losses first of all at these levels some investors simply might have to side to realize their profits that is simply the buy low and sell high principle and on top of that general electric chairs plunge for the second straight day so it is a big company weighing down here on the dow jones with a loss of twelve percent within the two last days and that is the worst today poll since two thousand and nine for the company after the new c.e.o. on monday had outlined steps to turn it into a smaller and more focused company surprising some investors there was also a drop in oil prices that his energy stocks and that is also the uncertainty around the tax reform so when is it going to happen who is going to pay for it for the mess of tax cuts that promise and so on so for humanity in new york thank you very

much. corporate news now and fox news hitting the headlines yet again but this time it's about germany's biggest company actively contributing to the military dictatorship in brazil the carmaker has important. brazilian federal prosecutors say german carmaker fox foreign worked hand in hand with the country's military dictatorship they confirm horrendous accusations the v.w. helped suppress regime opponents and they say the company wasn't under duress government appointed investigated what are seeming gardy summed up the damning testimony. it was active collaboration. w. supply details which they weren't asked for on its own initiative b w passed on documents about workers which the company considered to be subversive. of god he went even further he says we double use brazil subsidiary also swap blacklists of

government opponents with other companies but it also bears responsibility for the arrests of political dissidents on fox guarding premises the arrested workers were later tortured in jail by the military in fox guarding headquarters involves the company has so far not commented on the substance of the report but does say it's time for action. within the we'll be holding an event in brazil in december where we'll approach the affected people they'll be a meeting with high ranking fox bargain representatives but we'll also be putting a package of sustainable measures into effect. those harmed by fox violence actions can finally help for compensation after forty years. a change of pace now and someone had a bit of cash lying around almost thirty million dollars enough to win the bidding for a massive one hundred sixty three carat diamond tuesday night at christie's auction house in geneva the gem 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 carat 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's a diamond that's the color perfect in color white as can be called beauty flawless it's never been seen before uncut the giant diamond way to stunning four hundred four carrots making it the twenty seventh largest ever found italian celebrity jeweler found was close he needed one thousand seven hundred hours of concentrated work to fashion it into creation one a sparkling artwork of emeralds and diamonds that raised over twenty nine million

dollars at christie's auction the only question is where anyone would dare to wear it without an army of bodyguards. oh just in case my birthday is coming up shortly change of pace now georgia other country not the u.s. state is known as a great producer of wine and it has a century old tradition now a group of scientists claims to have found george's wine making tradition to be older than any other until now historians thought the persians had invented wine about seven thousand years ago that version is now being challenged. i read and read just the way a connoisseur likes it there's an eight thousand year tradition behind this lustrous color that's how long georgians have been crushing grapes and fermenting wine. so it's very interesting that wine making continued here without a break for eight thousand years georgia can be seen as a reservation where technology which existed thousands of years ago has been

preserved. however georgian wine doesn't age in wooden barrels instead it's made in bakes clay jars called very very archaeologists excavating a site south of the capital tbilisi came across a few examples of the clay jars. we took samples from the bottom and put them under a microscope. and on the bottom as well as the walls we found old traces of wine in eight vessels. the laboratory tests revealed that the jars originated some eight thousand years ago and that the traces of the wine which was made in them were just as old that makes ga the birthplace of wine making. it's also one of the country's principal exports today russia in particular buys lots of wine from its small neighbor now the chinese taste for georgian wine is also

growing rapidly however despite its eight thousand years of experience georgian wine is still a rarity on european shelves compared to its french spanish or italian competitors . sure so that and that's your business update thank you for joining us and see you next time good bye.

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