averting a full blown trade war the united states and china pulled back from the brink reporting progress and try talks the war is on hold also coming up. an economy in freefall nicolas maduro wins reelection and blames imperialism from abroad for his country's economic catastrophe and a world famous name in the d.i.y. sector is attracting skilled staff to its headquarters. and during the winter this is all business update economic superpowers china and the u.s. have agreed to hold off imposing new tariffs the temporary deal ends months of tension for financial markets beijing agreeing in a joint statement with washington to substantially reduce america's trade deficit with china the crux of the dispute some analysts dealt the truce will last long but at least the two sides are talking oranges from the u.s.

could soon be a regular fixture in some chinese supermarkets the asian country has agreed to import more goods that it made in the usa for us president donald trump it's a cause of celebration china has agreed to buy massive amounts of additional farm agricultural products would be one of the best things to happen to our farmers in many years. on china barry isn't tyrus to come down for the first time. president trump has previously criticised china for exporting more goods to the u.s. than vice versa but now the agreement could begin to reduce america's three hundred seventy five billion trade deficit with the nation yet concrete numbers remain unclear with any substantial amount being mentioned how substantial it began there was a reason why we didn't put a specific number and i would also say what the specifics of this business is business for again whatever we agree to these are documented government purchases

we have very specific targets industry by industry these now have to be executed china is also pleased with the deal and with it the avoidance of a difficult trade will. borrow one really for me we believe that the chinese and u.s. governments have reached a good agreement i think it's an outcome acceptable for both sides of course both governments should such agreement. economists believe that the chinese government will now instruct companies to focus more on u.s. products but the agreement could be bad news figure paean fans especially german automotive and mechanical engineering companies who rely on the chinese market. and while asian markets greeted the news with understandable relief the opinions vary on the streets of beijing. we should try to be the first in as many fields as possible so china can account for the u.s. . where for those in the u.s.

. trade war could harm investors so there shouldn't be one china and the u.s. should work together from the same foundations it's user account but do i think i can buy luxury goods such as cars or watches at lower prices. joins us now so is this a victory for trump some are saying china has won the trade war. well at least here on wall street there was certainly quite some relieve there in agreement could be on the table of the dow jones industrial average for the first time in two months trading a buffer twenty five thousand points but we are still short of any details if we have just heard past week or there was this number out in the media that the u.s. is looking to cut the deficit with china by two hundred billion dollars that

certainly will not be achieved even close so it really depends on the details so we have wilbur ross going to china this week and we have to wait and see of the holds that we got here at the beginning of the week will also materialize so positive reaction but still in wait and see mode and moving on as we saw earlier u.s. secretary of state mike from pale is taking a hard line against iran the europeans have dived into investing in iran other plenty of u.s. companies also regretting the decision by the trumpet ministration. overall and even if you look at business between the european union and iran and that is certainly true for u.s. corporations of business overall is minimal yes you have a couple of companies like boeing indirectly general electric who have a deal pending with iran but it really doesn't matter that much for the u.s.

economy what you did see is that was all those tensions with iran also was venezuela by the way as all the geopolitical tension that is going on you see oil prices moving higher here on monday by another one and a half percent an oil actually trades at the highest level in three and a half years but for u.s. companies all the iran talk in general doesn't really matter that much so the oil slick skids high and briefly are americans broadly welcoming trumps trade policies . well it really depends what angle you're looking at when it comes to iran i have the feeling that a lot of americans especially conservatives evangelicals and other groups or coal voters of donald trump they actually support the u.s. president when it comes to trying to it really depends on the industry of the agricultural industry for example here in the u.s. they really do hope that the trade tensions do not escalate so mixed reactions

there in wall street thank you very much. venezuela is contemplating a bleak future the economy is in freefall hyperinflation is so high citizens are literally paying in bags of banknotes and israelis continue to leave in droves not only just the country faced intensified unrest at home there's also the threat of new sanctions from abroad nicolas maduro is hailing his victory as a historic record for what the nation needs is reform. after nearly twenty years of socialist rule in venezuela the once prosperous economy is in tatters massive shortages have left huge swathes of the population struggling to survive hyperinflation that close to thirteen thousand percent has destroyed venezuelan savings and left them unable to afford basic goods power and water have become

luxuries for many in the country with the world's largest known oil reserves spiraling poverty hopelessness and anger at nicolas maduro as government have led to a social implosion protests and file and crackdowns have marked his tenure but as my duro tightens the screws on dissent his government has a silver bullet for the moribund economy the cryptocurrency the petro it's meant as a workaround for the lack of foreign currency but critics call it a scam but that petro success would depend on good faith in the government backing it years of mismanagement and corruption have meant very little of that has been created leading figures wayland's to see little chance of an end to their ordeal. as an irish low cost airline ryanair op after released its full year results of twenty seventeen spurred by an increase in passengers net profits soars to about one point four five billion euros up ten percent compared to the year before that

strong performance comes despite a difficult twelve months for ryanair the cancellation of thousands of flights to rostering problems a pilot strikes apparently failed to have a big impact on the company's bottom line and a bumpy year for the entire airline industry competitor. go out of business. germany's black forest is a big draw for tourists but try getting skilled workers out to this part of the country well the old company famous for inventing the wall plug fisher is located here and it's trying out new ways to attract and retain staff are promoting healthy food healthy lifestyle a reporter reports. time for a morning workout economist sara was using fissures in has gym. for me it's still special to have the gym and all the classes they'd be expensive

in a regular gym and here we can do the master work at the company. well sarah exercises chef. prepares lunch on the menu today salmon with asparagus the renowned chef comes in once a month to give the stuff some tips drop it will just leave you with this as the meal to create a positive atmosphere good food also keeps the staff healthy they arrive content and leave content. star studded cuisine for six euros the stuff lovers at half past eleven there are already lining up for the meal of the month c.e.o. klaus fisher subsidizes the meals. you must. do this to manipulate the star to make them more productive and. if you know it's about their well being as it is to say thank you for all the positive achievements of the company. and i don't mean just the parts if you.

say right gets her portion served by the chef himself. whenever she speaks about her workplace at home the reactions are the same i'm going to say this is really isn't it wouldn't they're jealous that we have such a great kitchen here and that a star chef like mr ball fight cooks here. fisher still generates eighty percent of its revenues with wool plugs one thousand two hundred employees work at the headquarters despite its remote location the c.e.o. says he has no problems finding good stuff. from anymore when people arrive at the company they feel the staff are really highly motivated word of mouth also spreads it ran that it's a good place to work sara is a good example she drives out here every day as opposed to the bustling city of stuttgart the distance is the same but the feel good factor is higher. that's it for our feel good business update you can catch more on the line and also show me

you just search for dana delany of business are back with more tomorrow same time same place see of.

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look for many poor people you don't first their chance of survival. and i could be lunch for today just like. our reporters travel to nairobi and so forth and the people who know the true value of courage. it has created a surprising parallel economy. what does all this mean for economic inequality around the world you guys are starting class warfare the response to that statement should be yes we all start in class walk again because we're tired. and actually disrupted you couldn't play to bridge the plane the truck gets loose reports starting june eleventh on g.w. .