al gore wants to pay thirty eight billion dollars in u.s. taxes on his overseas cash and create thousands of new jobs in the u.s. and when you find your investment plan. what's worrying the world's business. most the global risks report reveals what's keeping the movers and shakers up at night. apple pay thirty eight billion dollars in u.s. taxes on his overseas cash and create thousands of new jobs in the u.s. under a new five year investment plan the company announced for all countries each other you've business news now the tax bill stems from the more than two hundred fifty billion dollars in overseas cash held by the tech giant money that alcoa refused to bring back to the u.s. on the way to previews higher kopra tax rate the company says thirty billion dollar investment plan will create twenty thousand new jobs. and we want to hear more about that let's bring in school to our correspondent on wall street this is a huge investment yet what does that mean what's behind that well i

mean what we did here is that bill is talking about that overall they're going to contribute about three hundred fifty billion dollars for the u.s. economy over the next five years who wasn't too specific here where that number actually comes from but we can take a guess that detects reform does play a role. bringing quite a bit of the two hundred fifty billion dollars cares load to them from overseas back to the u.s. and we're hearing that a good twenty thousand jobs there will be created and the stock actually reacted quite positively to this news so apple benefits obviously for from this u.s. tax reform but banks are not that cheerful that concentrate on three form they have blaming actually that tax reform for the losses that you've seen today who is to blame you know if you. we do see one time charges because of the tax reform

for the big u.s. financial institutions but in the long term banks are quite upbeat that they will also profit but in the past quarter if we look at the numbers from goldman sachs for example which came out on wednesday for the first time in six years goldman had a loss and that was partly to blame on this one time charge but also trading revenue fell as heavily by thirty four percent in the past quarter bank of america did a bit better also some trouble was the tax reform related one time charge but overall it was almost the best report for bank of america in the corporate history and besides banking shares falling a bit here in the wednesday session the dow jones industrial average managed for the very first time to also close above twenty thinks thousand point mark so not everything is in a negative today and score thank you so much for your reporting from wall street

french dairy products company like alice is there a pressure raids took place at five of its locations french investigators are looking into how milk was tainted and how it got into stores and into baby food. investigators came in the early morning hours to check out luck talers headquarters their goal to help answer some of many remaining questions how did someone there like get into the milk powder and how did the tainted powder get into stores after the kids had fallen ill parents accuse the company of reacting too slowly they threatened to sue. we discovered that there was a proposition to compensate families that is before any traditional work has been done this would mean the end of judicial proceedings once again we won't give up on our complaint because we want to know what happened we want those responsible to be identified in this case. it seems the luck is recall was handled poorly for days it

was unclear which shipments of milk powder had been tainted and which ones were clean also some product made it into stores even after the recall. the biggest risks worldwide now the world economic forum has just released its latest report here recently. what happens if harvests fail say due to the effects of climate change like too much rain or drought or due to diseases that can destroy today's diversity crops that could trigger conflicts over food and mass migration says the world economic forum's latest global risks report. the experts call it stream weather events and natural disasters the biggest risk factors for twenty eighteen in terms of likelihood and impact the next most probable risk for cyber attacks and data fraud and the failure to mitigate or adapt to climate change. the report identifies

a number of cyber security risks for the first time in human history and mouse click could disrupt global infrastructure the greater our dependence on technology the more the internet of things expands the more vulnerable we are to cyber attacks in twenty seventeen cyber breaches recorded by businesses average one hundred thirty per company the cost of cybercrime to businesses is expected to amount to eight trillion dollars over the next five years. cyber attacks don't only cost money they also target and paralyze critical infrastructure like health systems companies can lose innovative ideas or customer information through a data theft. twenty sixteen alone saw the release of three hundred fifty seven million new malware variants banking dragoons designed to steal account logon details could be bought for as little as five hundred dollars while the w e s risk

report highlights the problems of the world's increasing interconnectedness it also warns about the risks of isolation and protectionism the risk experts want to convince this year's gathering in davos that withdrawing from free trade agreements is a bad idea the analysts say the global corporation is the key to a world that is stable and livable i don't know about you but i love taking my like to work instead of public transportation but now digital technology is taking the headache out of commuting this is how. light rail network is a good way to get to work during rush hour and at some stations there are new options for the last like of your trip. they have these cars and over there there are bikes to the sharing services are great it makes it easy to get where you're going. along with links to private car sharing services there's an app that shows you all the

other options. we want to create a platform that does more than display transit options it should let me complete the entire process from leasing to registering and paying. hamburg wants to be a pioneer and smart mobility and intelligent traffic light system is synchronized so that buses won't have to stop at red lights. the traffic control center software shows how to keep the rest of the traffic flowing soon the system will also tell motorists whether to speed up or slow down to hit the next green light. our focus is communication between traffic lights and cars the green wave concept will be replaced by a system that tells me how fast to drive so that i won't be forced to stop at a red light. in a big city millions of people are on the move every day. at the hamburg hafen city

university researchers are developing digital models that can help architects and city planners streamline urban mobility. one set of tools for example lets planners take residential transit patterns into account when deciding where to build this smart planning table is already helping hamburg improve the ct nation of its construction sites. we're very pleased we've had some astonishing results the program is very intuitive it's similar to a smartphone or tablet anyone can use it it's no problem and it's helped us a lot in terms of court nation. years. now any city department that is planning some construction work can see what else is scheduled nearby. that way they can keep some streets free of construction so that traffic will still flow. these may

all be small improvements but they add up to a city that's on the move. fashion week and everyone is checking out the latest trends this time it's all about environmentally friendly fashion and sustainability even though it sometimes looks like trash. you won't see many catwalk shows like this one by design or untie the tomaszewski at this year's berlin fashion week. instead groups of designers are joining together to present collections that focus on a specific scene like the stain ability. this dish fixes tots actually reducing waste is key the waste created by the fashion industry shouldn't be wasted. it's a resource and you just have to be clever about how to use it your most careful of them and all but. so is wearing our waste going to be the next big thing. maybe if these handbags made of kind of the leads are anything to go by. i hope wrote

that it's about getting our waists and getting in this way so it's not going to be another way so if biodegradable these may look like traditional chinese dresses but they're made out of recycled plastic. why that want to go is trying to buy the i'm fitter technique effect on my chair and combine a trend base no technique to get there. the young designers here are relatively unknown but they hope to spark a trend. of we want to get the new generation on board we want them to absorb all these trends at school at university in their first start up. so when they make the move to a big company they can take these ideas with them or introduce new production methods and make their ideas a reality but they don't often carve it. wearable ways to speak at the berlin fashion week and the organizers here hope will one day be part of the global

fashion movement. thanks so much for joining us see you tomorrow. much. was. such a. coach .

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