i declare already my poser has been sworn in as south africa's new president his election comes a day after jacob zuma resigned amid intense pressure from his party to step down or face a no confidence vote from a poser was elected without a vote after being the only candidate nominated in the parliament. u.s. director wes anderson's isle of dogs has opened the berlin film festival the movie is about a japanese city that the ports dog store garbage dump island during a canine flu outbreak it's among nine hundred films vying for the coveted gold and silver bears will be awarded on february twenty fourth. for. a financial frenzy on south african markets as traders anticipate and are going to make recovery under a new president investors believe an era of corruption has come to an end. coming

up the power of. china turns to factory style farms to boost production to squealing new heights. this is your business update on helena home free in berlin thanks for joining me south african stocks all suddenly in demand often nine years of jacob zuma his presidency punctuated by scandals policy uncertainty and stagnant economic growth this hope of a turnaround and local currency the rand has soared to a near three year high against the us dollar equities also searching and now parliament's elected a.n.c. party leader cyril ramaphosa as president. so it's africa's economy took a beating under x. president jacob zuma it's full mental recession the country's bonds are rated junk on its political elite is no longer trusted. and due to political mismanagement its second largest city cape town is running actually water fast growth has declined

steadily for more than three percent seven years ago to less than two percent in recent years one of the weakest rates of all of sub-saharan africa. the country's hope is resting on the newly elected president still ram opposers a former union leader has become a wealthy businessman since he was appointed head of the ruling african national congress in december the country's currency has surged by ten percent against the dollar. the confidence. that's a good sign that investors are banking on a change in south africa's fortune. france's unemployment rate dropped below nine percent for the first time since two thousand and nine i added weight to efforts by president to manually mark or to never lies a rigid either market now the rate fell to eight point nine percent in the fourth quarter of last year down from nine point six percent in the previous three months

and that is the steepest drop since the two thousand and eight financial crisis the latest fall points to a major shift away from average and employment levels of ten percent or more over recent years the figures can be seen as a boost for president manuel mccall whose first move as president was to allow firms increased flexibility to hire and fire staff now the government remains cautious if you cooperate it isn't dark i believe that the results notably those regarding employment. will need two years before we can say how these policies will bear fruit. this morning new unemployment figures were announced and i want to say once again i will not comment. main street is more upbeat though with the french economy now creating jobs at its fastest pace since two thousand and seven what european economy has just returned from australia it's encouraging and pleasant to come back to a country where unemployment is falling. today with all the

networks with everything there is you search for a job online and you find hundreds of places offering things this is however twenty percent of young people are still reported as out of work in france a low that rate is also sharply down. well here's something to get us president donald trump's back our exports to the united states jump shot the last year at the same time the block imported only marginally more from the u.s. european statistics agency eurostar says they use trade surplus with the united states rose a whopping seven percent to one hundred twenty one billion years donald trump has repeatedly criticized europe's high trade surplus with his country and in january he even accused the u.s. of using quote unfair practices saying you import tariffs in many sectors are higher than they u.s. counterparts. all right well the times check in with wall street now also have

sharansky is standing by for us in new york safety is that trade imbalance a real concern on the markets. well trade policy is one of trans favorite topics and it has been census companion in two thousand and sixteen because there's such a perfect fit to slam some other countries and make america a victim of unfair trade policies who has to react with terrorists and some more american first talk and let me tell you one thing alone a wall street hates tariffs and protectionism as they are mostly being perceived as a big problem for to domestic companies and for the american economy in form of higher expenses for companies leaving to put them through job losses and so forth but the markets right now are not showing that fear they have been recovering as more and more investors are getting back into the markets because falling stock prices are always

a buying opportunity and you can literally hear sighs of relief here on the floor the last ten days have been quite messy but now the vix is down a barometer for fear in the markets and we're looking at strong earnings season so the markets i'm really concerned with this particular trade gap for us who are investors getting back into the markets they are buying at the moment what is the sense that move all eternity to come or was this just a one off. well i think the main concern or risk is inflation right now in the monetary policy of the fed as a reaction to rising prices and interest rates are going to rise they have to the question for investors is just going to be how much and how quickly and if inflation keeps staying hot then jerome powell could speed that process up and inflation could get a further boost from a tightening labor market increased government spending and this might force the fed to be more aggressive aggressive in raising interest rates tracking it for us

from new york is also if he should get to talk to you so if you thanks. well hyperinflation has hit venezuela cashes in increasingly short supply which is bad news for everyone are a few tech companies that have been able to carve out a nishan at the crisis. this is the kind of scene you can expect if you're hoping to access cash in venezuela soaring prices have led to shortages in paper money and long lines at a.t.m. . but the country's hyper inflation has produced some surprise winners in the business world small tech companies offering shoppers mobile payments. one of them is very cold its founders has been as well as economic crisis has sped up what was a ready a burgeoning trend. we saw in twenty

ten and twenty eleven that electronic payments were going to be a trend globally. in a moment but what's happened is that has accelerated in some countries for various reasons so perhaps our economy will become cashless before that of denmark which put more effort into a minute in the market. last year the company saw a thirty fold increase in customers those availing of the service say it's made shopping easier. it makes us i would like to admit that i think that for me personally it's very practical to pay with people because it enables transactions all the way that the only thing missing is more information about how to manage the art and it's technology. you know that whatever that thing you know you get your money going. out developers in venezuela usually don't need too much starting capital salary expectations among coders are low and electricity and data costs

next to nothing still the boom in mobile payment is a result of the bust in nearly every other sector of the economy. all these are not good days to be a peg in china or the burgeoning middle class that wants more specially pork and now more of paix increasing from four hundred to seven hundred million in the space of just a decade the solution actually style farms. it's not exactly hog heaven but this is how a pig's life looks in china a small cage in a metal stall with computer controlled feeding using highly enriched soybeans by the end of the year ten thousand saudis will live here and their piglets will be turned into twenty thousand tonnes of pork it's just one of several mass farms in southwestern china being built this year. large scale farming means profits can

only go up and margins will be bigger because we have reduced costs and resources. not only the stalls are designed for efficiency so is the breeding in the laboratory next door technicians are working on imported semen to boost productivity for two years now china has spent ten billion dollars on expanding its mass production based on the american model you like to lose heart pigs have always been reared on what we call a pig farm but in fact a modern pig farm is more like a pig factory pig factory until now it's been the traditional farms that have predominated more than half of meat comes from small farms like this one farmer she hung way has thirty eight salads he's already switched to soya feed to make them grow faster but that's not enough he has neither the money nor the land to dispose of pig manure in an environmentally friendly manner and that's why the government is closing down thousands of small farms like his. prospecting

for small farmers it's tough to say. i'll carry on for another two to three or three to four years and then decide to quit myself i just don't know whether. it's also a change for chinese consumers they're often skeptical about mass farming. although i do take the animals' wellbeing into consideration but we have no way of knowing how the pigs are raised most of china's pork now comes from mass production and that's brought stable prices but the meat cannot show how the pig lived. that's what you're up to date with the latest wrong the wild all this more find us on facebook and you can follow us on twitter as well on the school business. is my handle and i'll be back tomorrow same time same place right now is a look at the top of. the bottom.

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