it's. the clock is ticking less than three hundred sixty five days until brecht six hour counting down to an economic disaster or is that just more doom and gloom propaganda from project fear also coming up serbia to the rescue how german firms tackle the lack of skilled workers by looking beyond in new borders and as the art of basel exhibition gets underway in hong kong chinese work side increasingly attracting investors interest and cash in a rapidly expanding market. and daniel winter and this is all business update. in one year's time britain will be out of the e.u. investors are confused by rex it economists confounded by it business leaders frustrated they point to u.k. data which is less than perky take

a look at last year the euro zone's economy expanded by more than two percent but in the united kingdom g.d.p. rose just one and a half percent now this year british economic growth is expected to slow from that figure because of the weaker forecast investors have switched to cash out of pound sterling its value dropping fifteen percent since the brics that referendum that's making imports more expensive pushing up consumer prices at three percent that is the highest point in five years for inflation now brits have had to borrow to maintain their lifestyle expectations u.k. households debt amounts to one hundred fifty percent of their income as the second highest rate among advanced economies after canada but there's more to the british economy than the doomsayers predict apparently c.m.c. markets senior economist michael hewson told us earlier to look on the bright side of bracks it. contrary to the predictions of doom and gloom the work came

out the fall the purpose of referendum economic growth actually hasn't been that bad and let's not forget here that the u.k. economy has expanded to twenty consecutive quarters it's been expanding since two thousand and twelve the economic recovery here is much more mature than say for example the economic recovery in europe so i think we are slightly ahead of the economic cycle which would i think reinforce the reasons i think why the european economy is probably growing at a faster rate but certainly i think there are there are obviously negatives inflation you mentioned it is slightly higher it has pressed down on consumer spending but overall the unemployment rate is at a twenty five year low and wages doing finally starts to be appear to be picking up so there are silver linings through. there now it's time for us to head over the pond quarter has the word on the street wall street that is since the end of the

first quarter ahead of the easter break what will investors be reflecting on over the holidays. we had some wild weeks behind we had a strong finish into an otherwise shaky month so for the week wall street trades to the upside but for the month and for the quarter we are down and with the that nine quarter rarely comes to an end nine consecutive quarters the dow jones industrial average saw increases that was the longest really of its kind since one thousand nine hundred ninety seven but now for the first quarter actually blue chips lost a good two percent and we had all those trade talks we had a correction in technology shares and now the big question there will be how are corporate earnings doing so we will hear that the earnings reports in the next couple of weeks specially from technology companies that. will depend on earning

season if we can get back into really mode or if there might be more pain to come for investors right now like to pick up on tech their amazon shares started the session down almost two percent after donald trump criticized the firm on twitter of course but just a couple of hours before the close they swung back into positive territory what's going on. well basically like a lot of the technology shares that got hammered quite a bit in the past couple of days there was a bit of a recovery to the end of the month but other than that it has been under quite some pressure this week and especially now on thursday a donald trump tweeted that he's not happy with amazon when it comes to the way how they're paid texas but also that amazon is killing thousands of retailers here in the united states and nobody really knows of any action will follow up but there is some regulatory pressure on amazon and by the way on some other technology

companies as well so a little for a little bit of recovery for amazon towards the end of the session but overall donald trump and jeff bezos the richest person on the planet by the way so the head of amazon they probably won't become close friends anytime soon have a great easter break thank you very much for that folks logon has bought back almost three hundred fifty thousand diesel cars fitted with emissions cheating software from its customers in the u.s. but what to do with them all the carmaker has at least thirty seven storage facilities around the nation the lots include a shuttered suburban detroit football stadium and this sun bleached desert graveyard in california these cars are waiting to be fixed and been sold but that takes time and may need even more parking lots of buybacks of emissions cheating cars will continue in the us through to the end of next year. germany is suffering from a chronic shortage of skilled workers the new coalition government plans to address

that issue with an immigration law focusing on skilled trades but companies in germany have been recruiting abroad for years one of them for the based are in a solution has long been taking advantage of regulation allowing skilled construction workers to enter the e.u. . these migrant workers in the german town of fulda play some basketball after work. there are bakers masons and electricians. one of them is thomas the gift which kind of christian who's laying the cables for a new hospital. the twenty seven year old serbian sees his future in germany. the economic and political situation in serbia is a good one you can make more money and have a better and more secure life here as he could as leighton hom. you have th works for r.n.'s solution a skilled trades business that employs around four thousand people give to chess

a german employment contract and is paid accordingly at union wages his employer has hired six hundred skilled workers most of them from serbia which isn't a member of the european union trained electricians are hard to find so the employer is allowed to give the job to a serbian when a german or an e.u. citizen can't be found for the position the german employer helps obtain paperwork and provides accommodations a serbian recruit costs around five thousand euros. due to the current economic boom and construction boom and we wouldn't be able to handle all the orders if we couldn't recruit from abroad. so we can at communities are moving the most and that's what we call to in serbia unemployment is high and we jews are low the german company is looking for new recruits at a training center applicant study german for four months in addition they get familiarized with the latest technical standards in the german electrical trade.

stephanie l.h. was a soldier for eight years then he worked as an electrician for three he has high hopes . last dog an outing i will learn a lot because germany is more technically advanced than serbia. some twenty thousand workers leave serbia every year the chamber of commerce in belgrade is worried about this trend but there are few job opportunities to keep young people in the country and i think that companies have to offer. better conditions for for working work and especially said we had to create better conditions for life here in serbia in order to to keep before us here in serbia back in germany thomas love wants to work a few more years for his company but his ultimate goal is opening up his own

business. following two years of decline the art market grew rapidly last year this year and looks even more appealing as investors seek shelter from recent volatility in capital markets now hong kong is embracing its newfound role as a global op tub within the first hour of this week's aa basel fair in hong kong a piece by willem de kooning sold for thirty five million dollars and chinese artists aren't far behind. chinese bias probably wouldn't have had much interest in this painting by up and coming artist dan in the past the desir who work touchwood communion is gathering a lot of attention. in their first few years i felt that they are very excited and they are so poor hungry in collecting so they would be coming up to us and wanting to collect right away certain pieces if they felt they were that they love it but

over the years i've seen more and more of our educated behavior china has become the world's second biggest up market after the u.s. in the past year chinese buyers have spent thirteen point two billion dollars on paintings sculptures and other rot that's up fourteen percent on the previous year . that's creating a windfall for some like eccentric konkona just fro kwok who is selling his hand painted calligraphy here. so thought. when i first started a lot of people just came to take photos now they are thinking of it as an investment and that is a good development to. go all. visit is also to have the opportunity to become an artwork themselves anyone can pose either as a consumer reduced to their purse. or is too interconnected fool says keeping

a book from falling this piece is candy in indiana proving that you don't have to be a wealthy art buy to get your fifteen minutes of fame and. apparently that's odd anyway that's it for your business update thank you very much for watching. comes.

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