and are not being spared. a big day for june is all a motive industry is its all time point seven million costless your profits have doubled and geely automotive in china takes a major stake in germany's back. and shoring they say shelves in a global first the island nation of greece to protect its water so in return for debt relief. time for business news i'm funny for char in berlin well come to our program germany's scandal plagued by been more than doubled profits for last year to eleven point four billion euros. up by just over six percent to two hundred thirty two point seven billion euros v.w. ranks as one of the world's largest automakers setting the tempo and seven million vehicles worldwide last year that's despite

a company admitting many bear an eleven million worldwide. reports from the frankfurt stock exchange. this was an. old. google will be. one of the weaker ones. was not according to the case of. china's investor early geely company has become the largest shareholder in germany stunner a company stock market filing say he bought a nine point seven percent share in the maker of luxury order. is the chairman of gilly automobile holdings so multinational automotive company based in china the billionaire already has holdings in europe gilly acquired sweden's

wallboard car maker eight years ago. and time for the latest from across the pond so let's turn to saw fisherman ski our correspondent on wall street have a selfie in new york nice to see you now first off the monetary policy report has been released to congress today tell us more what we should be looking at in that report. oh for investors the main question at the moment is certainly if there might be a forced rates hike in twenty eighteen and the report offered only little clarity in that regard in the center of it it was basically the fat's assessments of the american economy and how they are going to further proceed with monetary policy and their main instrument the federal funds rate in this report policymakers see an economy that maybe even past full employment financial market prices that are high and overall growth that continues to gather steam so all in all the fed sees rate

hikes as appropriate as quote economic activity will expand at a moderate pace and labor market conditions were remain strong quote and the report oh so noted that valuations in the stock market are high even with the major indices falling. so if you just briefly please if you could of you're hearing bank of america is very much worried about the strata of cryptocurrency these twins business why is that. ok so here's what the bank's regulatory filings said cryptocurrency a competitive threat to bank of america business and it doesn't come as a surprise at all that an established bank here's something that is made up through evolution the banking system because the underlying idea of basically any crypto currency is to avoid the. big banks and basically democratize the system of

currency so thank you so much for your reporting from wall street. of course cryptocurrency. more than just making a quick buck digital money has the potential to revolutionize the world of finance while machine learning makes huge strides the much a young man who's developed the technology twelve machine to machine payments. easiest to catch at the airport dominic shino twenty two year old programmer with big plans. the entrepreneur is flying all over the world to promote his digital currency he's put the code for us out in the public domain called g'sjert it aims to revolutionize transactions especially those that in the future could be carried out between machines. on our mission isn't all summation it's to make things independent and the way we make machines independent is to give

each of them a digital wallace and what we do then is get machines to paycheck other one good example is a car paying its own parking fee in the future that'll all be sorted out by the car and it's partly the baby or it's charging station or the road tolls sons or. groceries offer another opportunity for automation like a fridge that makes purchases automatically and pays digitally crypto currencies could be the money of the future best known as bitcoin which is based on block chain technology she now believes it's already outdated. but if i want to carry out a transaction using bitcoin i have to pay fees of between ten to twenty dollars obviously more expensive than a bank and if you look at the machine economy where one machine is paying another we're not talking about larger transactions like ten dollars so we're looking at transferring micro payments a few cents at a time so you can only do that with the one that's coming. in. the u.s.

currency is based on what's called a confirmation of a payment functions much faster and more cheaply than with block chains from competitors like bitcoin small sums are easily dealt with. it's just a secure. good thing about your size that we've got a lot of researchers on board almost ten mathematicians they're laying at the theory behind the tongue they're validation it with solid proof which is what we're working on that you know. until now people are still shopping for groceries rather than leaving it up to the fridge but cryptic currencies are bringing the days of machine to machine transactions one step closer all right you know what all of the paris international agricultural show this week in paris. are anything but happy they are concerned about unemployment if a free trade deal comes into force in the south american. this scales dealt full expression says it all there's an undercurrent of anxiety at this year's paris

international agricultural show farmers here dreading the arrival of more terror free meat from brazil argentina uruguay and power as soon as the free trade deal comes into force brazil is already the world's biggest meat exporter. the farmers trade union says a trade deal puts around twenty five thousand livestock farms in france on shaky ground that's a blow to a country which prides itself on its food and where it comes from. i would say that in france we have an. opportunity to have a diversity of diversity a product it's also a country of yes agronomy we have farmers who are passionate about their work attached to the soil and i think there are certain expertise in our region and. the french president and manuel monthlong has staked out a middle ground ahead of the major pharma show here farmers to invest more rather than complain about overseas competition while also promising to protect them from

foreign land buyers. air b.n. b. is on the scales for a new growth opportunities many cities have restrictive the service hotels have been complaining and some air b.n. b. customers complain the places don't live up to expectations. the rentals platform could be on the doorstep of its public listing and is looking to raise its game by introducing a new plus program the company hopes to appeal to travelers who are skeptical of booking on scene properties over an automated website personally inspecting accommodation to ensure the highest quality homes get the seal of approval to bump top price to boot the luxury market is hotly contested but the timing is right at the end be announcing growing bookings on its first operating profit last year giving it the firepower to extend its reach ahead of its initial public offering which could be as soon as next year so what are they waiting for the pressures of being public can be very ominous if you have no principles because the public

markets got a whole bunch of principals so we're not in any rush we haven't committed to a timeline or any you know if and when we go public we just know that we want to institutionalize our intentions as quickly as possible and be ready for the times right we're ready to go. well established hotel sites like booking dot com or expedia are moving into the private rental territory just as and b. and b. receives greater scrutiny from local regulators worldwide they're accused of pushing up local property prices whether the new plus program will be a plus for b. b. and. the face of mounting opposition remains to be see. it's part of an agreement with the island nations creditors for the first time the seychelles so stagnated the sea surrounding its islands as protected waters and is receiving debt relief in return . for many this indian ocean island is what paradise looks like the remote atoll is home to the world's largest population of giant tortoises and is

the spawning ground and for a number of rare species. the seychelles government has now signed a bill restricting nearly all human activity in the quarter is a right and. it's the result of a unique deal with its predecessors debt relief in exchange for protecting biodiversity the ambitious plan places thirty percent of the country's territorial waters under protection putting it way ahead of the global marine protected area target of ten percent by twenty twenty took four years to put this together but what happened was is over that time period the seychelles was a poster child of what you do to come out of a debt crisis they were running positive budget surpluses they successfully footed the currency that rooster duce their debt to g.d.p. ratio in the late two thousand as the seychelles was one of the world's most indebted countries according to the world bank sovereign debt peaked at nearly one billion us dollars today the finance ministry says it stands at less than half of.

many fishermen except that the long term effects of the marine special plan will benefit the economy on their industry yet some fear the short term impact will be crippling to their livelihoods. all right from the says shells back to rowland thank you so much for watching. i want. to. thank you.

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