erasing his convictions less than halfway into a twenty five year prison sentence. it's all going to chaos the annual meeting of the chaos computer club is taking place and lights packers and cyber safety experts from across europe of there to debate the future of digital security also coming up living standards in venezuela are tumbling we'll bring you one man's creative solution to staving off the hunger and we're traveling along the new silk road how the greek port of pereira's is drawing the billion dollar investments from china. i'm daniel winter welcome to your business update for many of us it seems technology is changing the world at such a frantic pace it's hard to keep up and falling behind can leave companies and

individuals vulnerable to attack that's why you should be paying particular attention to the chaos computer club's annual conference in light sake it's a gathering of europe's top cyber security minds and they're highlighting vulnerabilities in everyday tech to help us live more secure lifes. electric cars have been told to does the next big thing for transportation because they are considered better for the environment but experts are already warning that some of the technological infrastructure for the cars is vulnerable to being hacked in germany customers of public charging stations are exposed to fraud because twin section data isn't encrypted researchers say that's because companies are placing other priorities ahead of security. these companies are growing very quickly simply because they want to have the best location for their charging infrastructure and they are trying to. build the infrastructure right now and have the profits later so they are for growing more quickly instead of focusing on the security side of

things but charging stations are one topic but of course the chaos communication congress is about online security internet security and data protection in general and the question of course is always is enough being done by the regulators and that is something that definitely needs to be looked at because a lot of the criticism is that governments in europe are not doing enough to protect consumers experts say companies don't have a major incentive to protect their customers data they want corporations that suffer customer data breaches to face heftier fines. it's not expensive enough for companies if they fail security wise when you look at the internet of things the so-called i like this many video camera us oldsters networked it was just smart smart told that pick a shoe that comes with like zero security. measures just because it would companies those companies would think it's too important it's too costly it's too

expensive to have. to install security measures and some experts suggest that the solution would be hefty fines for firms that do not keep customer data safe. to u.s. markets now where we often see a rise in stock prices in the period after christmas known as a santa claus rally quarter is on wall street forced jones i'd like to ask you is this year any different. well i mean we don't see a big space. at the u.s. stock market at this point and in general a center clause or a year end really is defined by the last five trading days of the old year and the first to trading days of the new year so there is still room for improvement and by the way it's complaining on a really high level actually again here on thursday by point two percent was good

enough for another record close on wall street it was the seventy first record that we saw within this year we've never seen that many records with an one calendar year before and we're only shy of about a half a percent of the next one thousand point mark meaning twenty five thousand dollars for the dow jones industrial average things are not looking up everywhere despite potential rates rises next year and economic growth in the u.s. the dollar is at a weak low what's going on. and then you know it has been one of the big misjudgments of twenty seven eighteen i remember where we were well about a year ago when many analysts were looking forward to see parrot three between the dollar and the euro meaning one for one and now we almost have to pay a dollar twenty per euros saw that prediction definitely didn't work out in general a higher dollar is in the making and we see an increase in interest rates here in

the united states you might even see there's a certain overheating of the u.s. economy meaning that the federal reserve might even further but it's a tricky thing was currencies so well that was really one of the big misjudgments of twenty seventeen coming to the currency markets thank you for that. venezuela sits atop the world's largest oil reserves but the plummeting crude price and gross mismanagement by the government has crippled the country's economy inflation is sky high two thousand percent this past year hundreds of thousands of venezuelans are leaving the country and try to make it elsewhere some a cashing in with creative ideas but even that campolo amount of desperate poverty . yes just taking the bus not to work though sadly his work is on the bus his selling money worthless money from his homeland of when this oil and. they get it do you know what i can buy with this absolutely nothing

gentleman. having a drop in minnesota elias hardheaded this not enough to feed a family with in a few minutes everything is well and salary is forty thousand dollars a week that doesn't buy much today a pound of sugar costs more than twice as much. because he left his country for neighboring colombia and is now panhandling on buses in bogota he explains his country's economic plight to local commuters hoping to store their horace. i left my country with two million body of ours when i arrived at the border they would only give me sixty thousand pesos for it twenty dollars so i decided to bring them here instead to bogota and give them away so that people can give me whatever they feel in their hearts i do it because i have three beautiful children i have a family have to do something to feed them up with. the concept works call him makes a few bucks every day and manages to send some money back home meanwhile the crisis

there affects the neighbors across the western border colombia has its own economic problems and it's facing a larger influx of migrants than the country has ever seen before we get in there are a lot of people in the cities where there are issues with lack of lodging lack of schools it's a challenge and you can imagine that if the colombian population already has problems accessing basic services if six hundred thousand more people arrive it's very difficult yallop all those who colombiana but difficult but still better than in venezuela. here is that's all that matters. all this week we're taking a look at the new silk road china's attempt or. a one thousand year old trade route is pumping hundreds of billions of dollars into transport infrastructure across asia africa and europe today were at the greek port a courageous china's state owned shipping in the just extend costco has taken a majority two hundred eighty million euro stake with another three hundred fifty

million to come in the next decade and as international companies line up to use it as a european gateway port traffic volumes are up twenty percent year on year this is the port of parade us since chinese shipping giant costco took over the port has been in operation twenty four hours a day freight volumes are four times what they used to be and one of the two container piers is being extended costco's plan to turn parathas into a gateway to europe is well underway its local executives are upbeat so far paramus is the only large private sector project making headway in greece but it is will be the first at that are now. very big disabuse us and they make that out and we hope to be ocean addition to this if you think of us from by a. companies like sony and hewlett packard ship their products from paris to eastern

europe. costco has invested a billion euros in the container terminal. the passenger terminal is next on the agenda already the largest in europe it's going to get even bigger along with a massive facelift. old warehouses are also being converted. to get these to be below the floor in five star hotels that we did not have maybe you know you see by the end to provide duties he said he sees we thought there i mused. areas like restaurant buffet areas costco also wants to attract cruise ship passengers primarily from china and paramus would be more than just a flying visit costco wants to become home base for the luxury liners big plans but the unions are skeptical they fear costco is farming out contracts to

subcontractors and working conditions will be undermined in an s.u.v. off the wall it's an important question if and if necessary we'll go on strike yet we want a collective agreement and long term secure jobs that's what we demand from costco and also from our government. as part of the deal with the greek government costco has to invest three hundred fifty million euros and perea sarber over the next ten years it's hoped the district around the harbor will also benefit and greece certainly needs the kind of economic stimulus the chinese hope their vision for a us will deliver. administrators say there is only one potential new owner picking over the remains of the bankrupt carrier industries also say on a british airways is to acquire its austrian subsidiary making a final deal should be struck in the next few days and he slid into insolvency not long after lynn went belly up most times it's true it's been.

coming in to land on this edition of business we've got plenty more online so check us out on social media. when. i'll be back again tomorrow same time same place until then keep it here on the.

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