at the g twenty summit in argentina a year of life tonight here it's been toying with us some time it wants global rules to stop taxing digital giants more fairly but the u.s. isn't of. course the coming up chinese president xi jinping is in africa to strengthen economic ties with the continent absent your new critic of investment deals. plus the collection of disney theme park memorabilia is being auctioned next month in california at all costs a lot more than some pixie dust to take it. this is your business update glad you could join me has the makings of a new transatlantic dispute european finance ministers and central bankers have called for global rules to tax the digital economy putting them at all odds with u.s. counterparts the idea was floated a meeting of the g twenty in the argentinian capital when his ideas on sunday and

it's not likely to go down well with the u.s. tech giants. it's an idea the e.u. started toying with earlier this year digital companies should pay their fair share of taxes during last weekend's g twenty meeting e.u. finance leaders made sure the proposal was on the docket. like every other company tech giants like google are acquired to pay taxes on their profits however many used creative accounting to avoid paying their full share that's why the e.u. wants to start taxing the revenues instead of the profits that large digital companies earn in european countries. the new measure would force digital companies with significant presence in europe to pay a three percent tax on the e.u. revenues brussels hopes the tax will raise five billion euros a year tech giants already pay disproportionately low taxes and the money they earn isn't accounted for in president trump's favorite obsession the u.s.

trade deficit. he claims the e.u. has a one hundred fifty one billion dollar trade surplus with the united states but its calculations only look at the exchange of goods taking into account all monetary flows including services and revenues of multinational corporations the e.u. chalks up a deficit of fourteen billion dollars although e.u. officials say the digital tax would create more fairness their u.s. counterparts have already signaled that they would interpret it as an attack on america. well let's bring in our financial correspondent names who are to new york for more on this now again what's the sense that do americans feel like europe is stepping on their toes when it comes to this proposal. i would so so yes and that has not just started with u.s. president to donald from but also the obama administration actually complain that the regulatory correct down against them silicon valley is so politically weighted

what i'm also hearing here quite often is that well ok we live in a digital word world so how do you texas but when it comes to the big digital companies there aren't that many global european players so when we talk about texas and those corporations we mostly talk about us american corporations that's at least the sense that i see over here in the u.s. and on wall street and our u.s. tech companies paying their fair share in the u.s. . well u.s. tech companies aren't notorious for not paying too many texas even before u.s. president donald trump started his tax reform earlier this year a lot of the u.s. tech companies paid far less corporate taxes then the overall demanded thirty five percent and quite often they would pay less then twenty percent or one of the main

reasons for that is also when it comes to ensure lecture lee property rights a lot of the tech companies actually list those. rights somewhere in cheap takes countries and therefore they can avoid higher takes that there were there were also supposed to pay here in the united states so do american tech companies pay taxes here in the u.s. sure there do but quite often they pay far less taxes than we've seen it in a lot of other areas by the way the same especially when it comes to intellectual property rights and it's true for the pharmaceutical industry they're also notorious for paying a lot of texas so yes u.s. technology companies pay their share but less than other industries putting it into context for us our financial correspondent yes goes eighteen and york thank you. well a flurry of new trade agreements of mark sheeting pings trip to rwanda as the first

ever visit by chinese president to the country and she stopped in rwanda on his way to the break summit of the logical and south africa rwandan president paul kagame they praised china for its treatment of the continent as an equal china has become africa's biggest trading partner and a major fina infrastructure projects the critics have assailed some projects on human rights and environmental. or one of the infrastructure projects china is pursuing elsewhere in africa is the kenyan railing which will run across the country between its indian ocean port of mombasa through to neighboring the ganda it also cuts through national park territory and has come in some severe criticism. these animals roam freely barely seven kilometers outside kenya's capital nairobi but their unrestricted lifestyle is endangered kenya has contracted the china roads and bridges corp to extend and modernize its main railway line the

first leg connecting the bus in nairobi was completed in twenty seventeen the second leg will link kenya to neighboring uganda it cuts right through the national park. all these train tracks and noise going to make the park lose the animals and maybe reduce it to his zoos this is a natural park where animals can walk in and out they will no longer be able to do that conservationists have been fighting the railway since twenty sixteen to no avail construction of the second plague began in march despite a court order halting the project and elevated track will run across six kilometers of the park perched on pillars between eight and forty meters tall officials insist the animals will still be able to roam freely. that area was supposed to be for animals a corridor for wildlife but also as development activities and i country we cannot

really shy away from investing in our development the rift valley railway is can use biggest infrastructure project since independence and the government hopes the faster transport link will give you a card to be a boost chinese railways roads and dams are rapidly changing landscapes across africa aimed at accelerating the continent's industrialization they also cement beijing's influence. they're all suspicions that chinese vaccine it produces knowing expose hundreds of thousands of children to possibly on safe fax chinese police have launched a probe into chen chun chung sen biotech over claims it sold dangerous inoculations to health facilities across the country china showing it shares which had been suspended in the morning with down ten percent of slump forty seven percent since mid july state durable forties have conducted on announced inspections on all the chinese manufacturers as well some of the vaccines in question were given routinely

to chinese babies as young as three months so far it appears no patients were heart . now some rather alarming news and some concerns here have been loving germany they might call it a national crisis the country's breweries are running out of bottles. a brewery in both just ask its customers for help they should bring back their empty beer bottles before they go on vacation although the deposit on bottles is between eight in fifteen cents each not enough customers return their recyclable empties now many breweries find themselves short on bottles germans drink more beer than expected this summer first that was the soccer world cup and then the unusually hot temperatures it's been months of warm sunny weather in germany and breweries have been selling more beer than ever before the problem is not a shortage of beer just not enough bottles experts estimate though that there were

two billion of them circulating throughout germany but beer drinkers might be wishing it were a few million more. europe's largest budget carrier ryanair has reported a stateful in the first quarter that profit drops twenty percent dublin based airline blames lower fares higher fuel prices and increased pilots' wages dropped but it still expects to reach its annual profit for cost of around one point three billion euros brian as disappointing results come officers decision to accept trade unions late last year and strikes by pilots and cabin crew continue to take their toll despite agreements with the unions in britain is in the and germany. staying with aeronautics of souls a collection of disney theme park memorabilia is up for auction next month in california and among the offerings all pieces of the dumbo the flying elephant rocks and space mountain as well as a bucket from the old disneyland skyway but will take a lot more than some pixie dust to make any of the. collector and hollywood agent

richard kraft is behind the sale he's turning over seven hundred fifty pieces that spanned six decades of disneyland history items like this car from the famous dumbo ride which the auction house says could fetch between one hundred to two hundred thousand dollars to craft these items art kits their art and he's not alone his collection is currently being displayed at a free public exhibition in suburban los angeles. real artisans mavis and i love put it in an exhibit said being so it could be admired differently you never actually see this stuff up close and personal the way you would see it in this exhibit. so why sell them kraft is looking for a happy ending he plans to donate the proceeds to to charity organizations benefiting children. that's it you're up to date with the latest business news i'll be back with more tomorrow same time same place that for me that right now is

a look at the markets at this hour thanks for watching and. cut the mob. such. odd. little touch. the mob move. into law.

so must. the odd open air festival in northern germany. marking a medal buffalo soldiers dozens of newcomers from the law. b.m.w.'s complex more foreign. markets open their. stores in the recession dollars and the money. i'm not proud of and they will not succeed in dividing us so that i will not succeed in taking the people off the streets because we're tired of just to try to show that. taking the stand global news that matters. made for mines. germany. colorful. the latest. the most traditional.

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