favorite german directors and i think he might have a chance to pull off the big win this year. transit we're going to be on the lookout thank you so much scott. and thank you for spending this part of your day with us when things really will be up next with all the business headlines and also you can at the top of the hour. my first bicycle was a sewing machine. where i come from women are by this ocean for. something as simple as learning how to write a by side isn't. since i was a little guy. and it took me years to when i. finally gave up and went on by me and i say this country turns people sewing machines sewing i suppose was more appropriate for girls than writing advice. i was

a. woman back home full of bones and social norms and informed them about deadbeats and rights my name is the amount of the who and i. need to. do to. control the central banks gov under investigation for bribery the u.s. accuses a lot of money laundering. electric dreams come true for the swedish students behind the scenes by the funding and orders are rolling in. and india's economy is booming propagates a logistics nightmare for delivery man how some start ups to turning to tech to tackle the challenges. let's do business banking officials say

eat. gone away with bribery for years he's a key member of the e.c.b. and governor of latvia's central bank now under investigation is still the only financial scandal to hit the baltic nation one of its biggest banks is accused of busting sanctions on north korea. latvia's top banking official illness from savage arriving at the country's anti-corruption agency rim savage seen here wearing a cap was questioned by authorities after they raided his offices and property already say he is being held for demanding a bribe of at least one hundred thousand euros the news comes a week after u.s. authorities proposed banning one of latvia's largest private banks a.b.l. the bank for alleged money laundering that he has finance ministers sought to offer reassurance. but it's not enough since they are i can assure you that a lot of finance system is stable banks don't have liquidity issues so depositors

can feel completely safe. that all of them only use this only about worship of interest in order to protect the finance sector stability and reputation i think that from savage should resign from his post while the investigation is ongoing. now cops know that. the latvian prime minister has also called for him savage to step down but markets are still likely to remain an easy about the state of latvia's banking system on monday the e.c.b. said it was stopping all aid bank payments over liquidity concerns and while the room savage case isn't linked to the a.b.l. the problem it also goes beyond the country's borders as a member of the governing body rim savage has access to confidential information relating to europe's most powerful financial institution. earlier in the day i asked our brussels correspondent teri schultz if customers and countries doing business with latvia should be worried. well i think they definitely are worried i

spoke with the european central bank and they said it is highly unusual in fact this may even be the first time that they've ever had to impose a moratorium on one of the banks in the eurozone and that means that nobody can take money out of the bank of course you're free to make deposits but that ranges from large institutions that have money in a b o v to the the average let the in pensioner nobody can take any money out of this bank and this was sparked of course by the u.s. treasury accusing the bank of being a money laundering tool in fact i'm reading directly from the treasury report it said that a.b. l.v. institutionalized money laundering as the pillar of the bank's banking practices so i think everyone should be worried that lefty is banking sector is very much in turmoil this isn't the first time this has happened there have been five banks accused of being connected to north korea's ballistic missile program in the past so this isn't new but this is certainly the biggest the third largest bank in

latvia that's now being accused of this ok look to deal with the european officials yeah this monday at the same time the future of lot of your central bank governor is up in the air. yes i mean this is a separate issue but when we're talking about stability it certainly plays into it saturday night overnight mr wrenn ketches office and one of his private properties were raided and then he was detained and now this forty eight hour period under which he can be held expires today it remains to be seen whether he will be charged on these accusations we heard about of taking bribes or whether he will be set free but we'll find out later today and eve in any case he sits on the european central bank's governing board as the latvian central bank chief and this is certainly something that's going to be causing ripples here in brussels as well as in libya back to the sanctions busting story what does it mean that the u.s. has pulled a lot for your own this and annoy your banking supervisor i mean europe has

a special banking supervisor to do just that that's right and the only allegations that we've seen have come from the u.s. in years past it was the f.b.i. and the u.s. treasury that said five banks which at that point didn't include the word money laundering two of those banks were fined millions of euros by latvia itself and three banks remained under suspicion now with a.b.l. be accused of basically being a tool for offshore companies to funnel money to the north korean regime in this current environment those are very serious allegations and they came from washington not from here in europe and briefly what's the european commission have to say about all this. well they were asked exactly about this whether you we can have any face in the european and the european union's own supervisory authorities that they're basically following the u.s. allegations the commission not surprisingly say it does have faith in european

union banking supervisory authorities and they point to the e.c.b. action imposing a moratorium on a b o v as proof that the e.c.b. can take effective action but again we should point out that these are only coming because of the liquidity problem following the u.s. treasuries allegations last week teri schultz that thanks for your coverage now who'd have thought you could pop into an electronics store to buy a car that's the case for this next electric vehicle that's been developed by a bunch of swedish students of two thousand people of preorder it. it began as an innovation project at lynn university in sweden now after raising well over a million euros in a crowdfunding campaign it's become a futuristic looking e-car designed to be the next generation of electric vehicles the new city car has some features that have alluded other car makers it has a three hundred kilometer range and the battery can be fast charged in just over

three hours using induction technology there is also a removable battery pack that owners can plug in it home or at the office unity is also struck a deal with an electricity provider and car owners will receive five years of free solar energy to charge their car so you doing your daily commute back and forth every day you not even worrying about plugging it in its energy is taken care of it doesn't cost you a dime. owners open the car door with a quick scan of a key card. the vehicle steering system resembles a wee controller rather than a traditional steering wheel. this is not the generation swipes that pulls a lever to turn right this is the generation swipes right. the unity one is now on display in some media market stores in sweden it's priced at just under fifteen

thousand euros and first deliveries are scheduled for twenty nineteen. now unity is also aiming to bring a nine thousand euro five seater version of its city car to the indian market by twenty twenty. will have a gating india's streets can be dangerous with oxen and holy cow is wandering around but an economist could make it even worse a startup is using tech to tackle logistics. every morning how did the cut now that's often a job that requires speed and efficiency. the two things that indians. do not provide. one in that works as a delivery man you're dealing e-commerce logistics shadowfax he has to deliver dozens of packages a day when talking to customers in hellish traffic. another problem is finding addresses in india's many unplanned settlements been codes house numbers and

landmarks are often inaccurate and confusing. but in the often has to call customers for directions before he could make the delivery. that means he loses precious time further ramping up the pressure. finding addresses isn't easy sometimes there are several houses with the same numbers then we have to call up the customers sometimes several times customers get angry and they say why you can't sleep calling me it's your job to find the address you're the delivery man so it's frustrating. the challenges are well known here at shadowfax the startup operates in seventy indian cities delivering everything from groceries electronics food to clothes co-founder by birth control is a big believer in technology to tackle the distance. his company crunches traffic and location data and uses artificial intelligence and predictive analysis to

optimize deliberately parts and times here i would say these problems can only be taken in the short term if you say in the long term yes there are many needs for big actions according to it but in the short term it is definitely back which can make businesses move faster the focus on technology also amuse deliberately workers like her and have to be trained using the company's. tracks the entire supply process. at another shadowfax hub technology is also used to tackle one of the biggest headaches but logistics companies processing the huge volume of goods and happy customers written. india's e-commerce market is growing fast it's estimated to reach one hundred billion dollars by two thousand and twenty the country's bush to a digital economy is also driving well people to shop online. but getting deliberately

logistics right remains complicated in a country in which millions of customers are spread out across maust often unconnected areas. to cover such a wide. range as off and ordinary as well as river quoque richard so need significant you know investment in the experience to come to southern russia are strong words eco must meet in india but the millions of brick and mortar corner shops across the country and good to disappear any time soon. business with a. a

month long journey also to.

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