one day off to washington rocks out on the iran nuclear deal the question now what does this mean for european business interests in iran will they be deterred all stand also coming up the plunge of the argentine peso sees president machree call on the i.m.f. to lend a hand and help shore up the currency. and it's an unlikely combination lock chain investors flock to hurricane stricken puerto rico for tax reasons they claim to help out. place is your business update on how to humphrey in berlin glad you could join me now concerns for the future of european companies if they keep on doing business with a role they saw for the u.s. president donald trump announced in one fell swoop that not only was he pulling the u.s. out of the iran nuclear deal but that he also plans to reinstate sanctions against the country as well as those still party to the deal and working with iran so far germany france and the u.k.

say they will remain committed to the agreement to protect their business interests in the region. the u.s. u. turn affects large e.u. corporations in particular siemens for one book text revenues of one hundred thirty million euros last year after contracts with iran's surge soon after sanctions had been lifted now siemens will only say that existing projects will be completed quote as far as legally possible. terms decision is a direct hit on european plane maker airbus a contract for one hundred airliners for iran now hangs in the balance. german finance minister olaf scholtz promises to do everything possible to protect european commercial interests i'm struggling that we cannot predict at this point what we can do as the european union has come up like you know news sure you that we are in continuing talks and that i personally will have a couple of telephone conversations with the u.s. colleagues today in order to progress on that issue you don't find it was

a. faux wagner had also been banking on business with iran europe's largest carmaker began exporting cars there in twenty seventeen. and a lot of german engineering companies also resumed business with the country as sanctions were lifted and the nuclear deal came into force. there were dreams. and the reality words definitely of lean not according to this dreams so now we have to see a realistic approach doing business with iran we will continue doing business with iran we will stay with our treaties to the iranian companies and every company must decide on their own how they want to continue and how they will do it in twenty seventeen german exports to iran rose sharply albeit from a low level they were sixteen percent up to three billion euros. but our financial correspondent quarter is at the new york stock exchange for us a day off from pulled out of the u.s.

out of the iran nuclear deal and there's been concerns aplenty but anyway this. well i mean theoretically we might see that the energy of the oil industry might profit to years ago when sanctions were loosened actually iran fired up their oil production by about one million barrels a day and some of this production is now in jeopardy and we did see oil prices again in a good summary percent here in the way in say session we surpassed the seventy one dollar mark per barrel meaning the west texas intermediate oil price that gets traded here and we saw accordingly that oil stocks actually were among the biggest winners here on wall street and what does that mean then for the u.s. economy. well it's not just that oil prices are rising buzz other commodity prices as well and that actually could eventually lead to more inflation

more inflation my to mean that the federal reserve has increased interest rates even more and all of that has. worked out a lot for the u.s. economy if we think about high commodity prices that is a problem for u.s. businesses for industrial companies for airlines who have to pay more for their fuel but also consumers have to pay more when they fill up their tank so there could be some negative implications with prices on the rise and then also what we did see is the possibility of higher interest rates was a drag on all the real estate companies here in the u.s. and in other news in the end you've got well disney putting out some fairy tale numbers a fairy tale reaction on the markets. well not quite but that's probably because a deal in build a multi-billion dollar deal that walt disney was banking on buying fox entertainment is in jeopardy because there was also another company comcast trying

to buy fox but overall the numbers were much better than x. expected and mostly because of the movie business while disney made. great moves in the past when they bought the rights for all the superheroes from marvel in two thousand and nine for just four billion dollars and then three years later in two thousand and twelve they bought a look at this film to get the rights of for the star wars franchise and both really turned out to be big money makers in the past water black panther for example that will be brought in more than one billion dollars so the numbers were good but because this one deal is in jeopardy the stock of disney lost about two percent. on wall street for us thank you very much. they argentine peso continues its full sparking phase of a new wing economic crisis president korea has also the international monetary fund to help to prevent a further drop and he's looking to dodge

a serious crisis remembering two thousand and one when the country defaulted on its debt. the argentine peso has been in freefall it has lost eight percent against the u.s. dollar since last week and seventeen percent since the start of the year president machree announced plans to put the brakes on. i decided to enter discussions with the international monetary fund to secure a credit line. i said just minutes ago i spoke with the director and she confirmed we can start negotiating an agreement that in order. to try and curb the rapid inflation argentina central bank boosted key interest rates to forty percent but investors have been pulling out and diverting their money to the u.s. but. the interest rates in the united states have gone up significantly and currencies are devaluing against the u.s.

dollar. the dollar is putting immense pressure on other currencies including argentina's. the government hopes the emergency credit will stop the crisis from worsening president mark korea has been grappling with the country's high fiscal deficit since he took office in twenty fifteen he made just cuts to social benefits and since then poverty in the country has soared. in off the hurricane maria passes the island over seven months ago and tens of thousands of people are still without power but despite that cryptic comment the investors are coming to the island i tax incentives and the blocking technology they use could be put to good scene and rebuild a quarter acre. darkness on the streets of puerto rico island white blackouts are still part of everyday life even seven months after hurricane maria thousands of puerto rican slike wanna go on a still lacking in basic things like

a briefing for the heads back there were there is a rushlight and there were word ago when the how of the under water but at the same time the island presents a completely different picture investors from the block chain sector coming to puerto rico with capital and visions for the future german entrepreneur florian reich has seized block chain as an opportunity for the island to repair itself the public database that block chain is made of can help to connect the consumer and supplier of the transaction directly. train technology can help to rebuild the infrastructure in countries like puerto rico you can for example regulate the power supply in a more efficient way to prevent power outages will come almost. in some when the young entrepreneur meets up with c.e.o.'s who have chosen puerto rico as their ideal location for innovation there's incredible tax incentives that allow you to have low cost operations and some of the incentives to apply in many ways to block

change. the government of puerto rico offers tax incentives to attract companies and investors to the island last month the department of economic development and commerce announced plans to form an advisory council that will support block same businesses many puerto rican since i'm one still unsure about the idea of their island becoming a paradise for crypto investors rabidly we deploy our food people and where you deal with the bio ball or food people what they want to do it seems like they want to change everything and kind of take over. the part that kind of freaks me out a little bit the investors don't seem to care too much about their critics all they see is potential. puerto rico is a blank slate and we can utilize block chain for government for community many different ways in puerto rico could be a unique place in the world by utilizing watching first in the meantime one leg or

arm is preparing for the next power outage he's never even heard of the word block chain hopefully one day the two worlds will be able to converge on the islands they share. now british theme park company mullen entertainment has just opened a new attraction at its lego land resort in windsor in england and the winds are legoland is the largest in the global franchise and now features a lego sized interpretation of this month's royal wedding of britain's prince harry and meghan markle at the real windsor castle which is there only a few kilometers away will diminish a wedding is made up of away sixty thousand lego bricks and is now a permanent display at the sprawling theme park. europe say with the latest from the world all business home or find us on facebook or follow us on twitter at the w on disk or business on that to see how free is my handle thanks for your company see you soon and here's a look at a global market stop by. my

first boss was the sewing machine. where i come from women are almost by the social influence something as simple as learning how to write them by psychos isn't it. since i was a little girl i wanted to have them by sight along my home but it took me more as the money was. finally in the game bob and mentioned buying them by psychos and returns because sewing machine sewing i suppose was more afro create more of those than rising i'm biased as knowledge i want to meet those woman back home who are bones by then duties and social rules and inform them of old dead babies and write . my name is them out of the homes and i war z. to. the white house. ground is shaking. up of your

favorite. view of. the entire country. sixty. four minds. is here to crazy dog boss a president. thank you for taking the time with the basic idea mr president that we speak to you because you're going to be awarded the shot of the new price on thursday but we cannot limit ourselves to speaking about europe alone because we have a very important topic that's right you tried to to save the area and. nuclear deal when you were an.