finally a new government is on the horizon in germany the top two parties agreeing on a grand coalition if the deal goes ahead as planned the coveted finance ministry will change hands how will that help end the current order we'll get the view from germany's top business leaders also coming out britain's largest retailer tesco is hit with a four and a half billion euro lawsuit for breaching equal pay rules is it a sign of success management practices or something rather more complicated and. iceland has a warmer welcome the new most countries for bitcoin that's despite the colder climate which is actually the selling point. i'm daniel winter in berlin and this is your business update a new grand coalition could be a few short weeks away it's out with the old finance minister involved. revered at home he'd love to preach austerity to the southern europeans they hated him but the bitter medicine is taking effect greece's back on international markets today scheuer has already moved on to his new job as president of the bundestag and the

next german finance minister could well be this man he's a pro-business centrist all of charlotte's for his from the social democrat coalition partners and could soften the harsh face of austerity. and business executives will struggle to convince schultz to adopt a new corporate tax cuts modeled on those passed in the united states which have triggered a flood of investment the last corporate tax overhaul here was a decade ago the association of german chambers of commerce and industry praises the coalition pact for investing in digital education and broadband but there's criticism from other groups that nothing much is going to change under another grand coalition we spoke to tino boatmen of germany's engineering association the v.d.m. a he was certainly rather lukewarm about the coalition's tax plans. there is no increase of income tax only very very little to refuse the taxes

in germany for the time being small things like what we call in germany. are going down but not for everybody only for people with lower income than others so there's not much development in here we are really lacking a reform that goes into the structure and helps companies one thing that is of course a real pity the competition is rising and what we can do to be the number one position in exports for the time being would be off course more innovation and more innovation asks for. tax credits for research and might but only to a very small extent not helping for the whole problem. across industry business leaders had a mixed reaction to the deal here's what they had to say. german industry had pinned high hopes on the coalition pact and they've been largely

disappointed. from the standpoint of german industry we can't be happy with this it's much more about redistribution than about creating the conditions for more prosperity on. the industry representatives complain that there's no clear commitment in the coalition deal to invest in commercial research and development and while the parties have agreed to guarantee fast broadband network throughout the country by twenty twenty five businesses are saying that's not soon enough. unions meanwhile have a more positive take on the agreement. than a skilling. if the coalition agreement succeeds in improving the millions of people's lives. whether it's a nursing education or pensions it's a very positive signal of change in their society in a positive. it will be some time before it's clear whether the coalition agreement

can keep the german economy on track. to market action trading is still quite choppy on global markets and wednesday session has been tracking this for us from wall street so yes plenty of volatility are we still not back on track after the sell off of previous days. that's pretty much the case over here those wild swings that we continue to see show that the market remains so nervous we only saw a tiny loss here in the dow jones industrial average when markets closed but at some point we traded up by as much as three hundred eighty points and we could not hold onto those gains so once again. increasing that actually already started all the trouble in the past week so that that becomes more expensive so we are still in pretty choppy territory over here on wall street i can't tesla's

results came out just after the closing bell how is the electric car maker do. investors here on wall street seem to be pretty forgiving because their numbers were not stellar in comparison to last year's quarter the losses almost increased five fold to more than six hundred million dollars we're talking losses not profit and revenue came in only slightly higher than expected the biggest question that investors had is what about the production plants was the model three and test is sticking to that by the end of the second quarter they might achieve their goal that they already had problems for. vehicles per week so that still probably is going to happen by the end of the second quarter but the stock actually in an initial reaction increased slightly the stock for the past twelve months is up by thirty five percent much better than the traditional

american carmakers were dealing here in the past couple of months so test driving investors that crazy ends quarter on wall street thank you very much. should have been men be paid the same as cleaning ladies warehouse workers the same as shop floor stuff equal pay is a controversial topic in the u.k. at the moment now supermarket group tesco britain's largest retailer and private employer is facing a hefty lawsuit workers claiming women have paid considerably less than their male counterparts for jobs with similar skills. the lawsuit comes with a whopping request for compensation four billion pounds or about four point five billion euros it claims that workers in tesco distribution centers mostly men were paid considerably more than the largely female workforce in the stores themselves the difference three pounds an hour or about fifty seven hundred euros

a year plaintiffs say the jobs deserve equal compensation but we deal with customers they don't have to deal with customers but we do you know we take the stock and we know the stock they they load off that ari and we load on to the shelves the legal claim comes with the gender pay gap very much in the spotlight in britain the resignation of carrie gracie as b.b.c. china editor last month start the government investigation into paid bias at the broadcaster the government is also pushing a law that requires larger companies to publish pay gap data but there's already an equal pay law on the books it's more than thirty years old and is routinely ignored according to the tesco plaintiff's lawyers stefanos goodness it's nineteen eighty-four that you can compose a different job that's thirty four years to get your house and what the law firm aims to achieve change through the courts it's also suing british supermarket chains sainsbury's and as a wal-mart subsidiary. bitcoins recent plunge in value has led

to many investors abandoning the market entirely miners of the cryptocurrency though are pushing on so long as they can get cheap electricity that wanting to keep their chips in the game and that's what makes the country of iceland a haven for minus the low temperatures helping keep their computers cool while hoping for the big market to heat up again at the edge of the arctic the cool climate persists year round that might not be great for visitors but it's an advantage for the cryptocurrency industry which is flocking to iceland and ever larger numbers. islands' cold winds help keep computers cool thousands of computers with powerful graphics cards are needed to create cryptocurrency on an industrial scale those computers need constant cooling to prevent overheating. some data centers such as this one in keflavik only have partial walls on each side allowing a cold draft to enter. i thought house basically all the ingredients the

corn liners and all the hype of former computing companies require it has the abundance of green electricity it has the cold climate it is a located in a fairly secure location keflavik bitcoin farms are powered with electricity from a nearby geothermal energy plant it's one hundred percent green like all the country's power a bonus for an industry facing criticism for its electricity consumption and environmental impact at less than forty u.s. dollars per megawatt hour iceland's energy is also comparable cheap in china prices are more than twice as high an estimated fifty megawatts are currently being used for mining bitcoin and other crypto currencies in iceland that equals about half of what the countries people use to power their homes the industry is expected to double its usage this year it faces resistance critics still fear the environmental

impact and demand regulations and taxes but in the moment as countries like china and south korea increase the pressure on crypto currencies cold iceland represents a warm welcome. now if you don't like the idea of self driving cars get a load of this the world's first passenger drone has made its a noble flight in the chinese city of guam joe all you have to do is fasten your seat belt take a look then the automated flight system takes over the electrically powered drone can take a single passenger out a twenty three minute flight at one hundred kilometers an hour last year dubai in the united arab emirates announced plans to cooperate with the company behind the drone hang to develop self driving taxis to service the desert city. it. might take some getting used to well that's it for your business if you want more just check us out on the social media. business i'll be back with mall

tomorrow same time same place i'll see that. i was beginning. to sink.

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