period the rate of sanctions is sending businesses only retreat now the new wants to stem the tide saying it will make complying with the u.s. sanctions on iran illegal for european companies. a good day to be e.u. courses banned three insecticides giving the bees a new lease of life environmental groups are all abuzz with the same can't be said for the phone company. base is your business update on how that i am free agent thanks for joining me there on a sanctions are biting in america hasn't even introduced them yet the e.u. says it will take steps to protect european companies doing business in iran from the impact of u.s. measures the summit in sofia e.u. leaders agreed they need to save the twenty fifteen you could deal with of ronald

week off of the u.s. decided to pull out they vow to find out she supports deals in the country and crucially introduce a blocking its start sheet. that means essentially that the e.u. is making it illegal for european companies to comply with u.s. sanctions on iran it's only the second time that the european union has threatened to use the so-called blocking statute the first was back in one thousand nine hundred ninety six as a response to u.s. sanctions in cuba but it was never introduced now as a slew of global firms announce they're putting out over on e.u. leaders are scrambling to stop european firms from doing the same. the blocking statute is aimed at protecting the small and medium sized companies operating in the country it would also provide compensation for sanctions related losses although german politicians have said that can't be applied across the board the picture is much more complex for a bigger european corporations with close financial and corporate ties to the u.s.

the prospect of severe penalties over sanctions violations as well as the loss of financing from u.s. banks and other potential consequences already has some european businesses looking to exit iran the world's biggest container ship or a mall or maersk has said it will wind down its iran operations germany's biggest insurer said its preparing to wrap up their two siemens has said there will be no new deals with iran and french oil and gas company to it will pull out of a multi-billion gas project if it can't get an extension to tells departure would be especially painful for iran the iranian government had hoped the scale of the project would embolden other international companies to invest there for many companies the e.u. blocking statute poses a dilemma they could either stay in iran and risk their u.s. operations and possibly financing or they could leave iran and face penalties under the blocking regulations and man on

a wall street yes quote is standing by for us in new york of course yes it seems that with this statute europe is attempting to give up the red card will he be be cowed by that whatsoever. well it really would surprise me if the u.s. president would be too impressed or even. reconsider we shouldn't forget why donald trump got out of the iran deal in the first place it's driven by ideology and he has acquired some backing here in the united states with conservatives versus evan jelly killed swiss the core voters for donald trump or by israel and then it really would be an interesting twist if those foreign companies would be compensated by the well at the end by european taxpayers for those sanctions from the u.s.

president and is this dispute then having an impact on the u.s. economy right now. well directly i do not necessarily see a i mean first of all besides some exceptions like boeing for example maybe also companies like general electric there are not that many u.s. corporations doing business in iran but then again certainly the relations between the european union and was the u.s. are pretty tense already it was all the trade talks and if there was some fighting going on about the iran deal that. definitely does not really help the relations but we should not just look at europe look at china for example for the u.s. agriculture rail industry china is crucial to so therefore all this tension regarding the iran deal even if it's not having and direct impact on the u.s. economy it certainly does not help in this overall really tense situation when it

comes to all the trade talk a financial correspondent yeah thanks a lot. the inner city of johannesburg has changed since the end of the apartheid going from a shopping district aimed. white clientele to a buzzing african trading hub hundreds of millions of euros worth of goods sold here every day by thousands of traders that few seem to have noticed as this cash economy operates under the radar of. over three thousand stolz run mostly by immigrants make this market complex in downtown johannesburg a lucrative pan-african trading hub. shoppers come from all over the continent to find good deals. i come from i would come here to buy the gin. there is in a bar with a genius but he is

a bit expensive be it the it is cheap that's why they come we had way they didn't. selling mostly chinese fashions out of the cupboard size shops an estimated seven hundred million euros in revenue is made here every year that's twice as much as in africa's largest shopping mall but shop owners like sickly mchale are facing many challenges she arrived from ethiopia ten years ago and sells clothing and bags. saif now. business used to be good because of the many customers coming from zimbabwe mozambique and other places the sickness what is it now because of police raids and other criminal activities our business is getting more quiet as if. at least once a week the shops are barricaded as police officers arrive to search for counterfeit goods and to weed out illegal immigrants or so they say.

the biggest threat in this area is police cross with police confiscated goods from people and take those goods for resale to other people put it down the road this is a massive problem call study forty percent shopkeepers see it that they're making it hard to bribe the police officers. the traders feel victimized by the often brutal police action against them and they retaliate the situation regularly escalates into open street battles and manhunts shoppers and traders flee making any economic activity impossible for the rest of the day is it different is because not true a lot of the potential of the space as the divide of africa here approach is more enforcement and it's not development they have not provided to the infrastructure that is required to make this shocking that it could be. on average cross border shoppers spend twelve hundred euros per shopping trip to johannesburg their goods

are carried home in bags and in suitcases on board buses departing from backyard terminals thousands of them arrive every day but they may stop coming if infrastructure doesn't improve and security remains fragile. now where would we be without the b. they pollinate seventy of around one hundred crops that feed ninety percent of the world which is why this next piece of news is good for all of us and e.u. court has upheld a ban on three kinds of insecticides which are thought to hold the babies environmental groups are abuzz about the decision that the world's largest pharmaceutical companies well i'm so happy. it's a good day to be a b. in the european union from now one day i'll be spared the threat of death from three types of chemicals known as nean nicotine oids. so nearly got the notes are some of the most toxic pieces that have ever been produced plan put into the market

. very rare moment into the environment so we can use them one day and then for months they're going to be there they're what they're so we cannot control where they go unsurprisingly the companies that make the insecticides don't agree they include pharmaceutical giants buyer to keep their chemicals and syngenta. cuse the european food and safety agency of using excessively high doses in the bar tree tests but the court maintained that the original ban on the three new nicotine oit's dating back to twenty thirteen should be upheld as a precautionary measure is enables authorities to take action to protect human health and the environment even in the case of scientific uncertainty. bees play a vital role in crop pollination but in recent years their numbers have dwindled dramatically something being blamed on the in nicotine oids the losses have been so bad that the alarm has been raised over the potential impact on food supplies the

matter isn't necessarily settled yet though companies have two months to decide whether to lodge an appeal if they do so it will be up to the e.u. highest court to decide whether the ban is to be or not to be. some time soon businesses have to overcome unusual hurdles on their way to success and one restaurant in the australian city of perth while the restaurant developed a novel solution to stop his business going to the beds quite literally or to front diners that are restaurant in the western australian city of perth with tired of being harassed by swooping seagulls during the restaurant has given his customers a water pistol to keep the birds at bay the sea eagles gather to scavenge leftovers a white for customers to throw them out all right now it seems the water pistols are not only a tool to keep the dynas unmolested they are also attraction like us to mutts but welcome. that's a strong the world of business for more head to our web site t w dot com slash

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