china makes its move announcing retaliatory tariffs on sixty billion dollars worth of u.s. goods washington says it's not backing down and says it's close to reaching trade deals with the e.u. and mexico to present a united front against beijing. on the space race powered by the private sector amazon's jeff bezos goes up against tesla's eat all mask will be first for liftoff. this is your business update on how men are free in berlin glad you could join me donald trump's top economic adviser says the united states and china have been holding high level trade talks for the two sides appear to found little common ground larry kudlow describes china's threat to impose another sixty billion dollars worth of tariffs on the u.s. this week and said the world's second biggest economy was quote in trouble the trumpet ministration continues to accuse china of stealing intellectual property

and not playing by trade rules china as it is' those allegations and says u.s. protectionism is a threat to global trade. let's get more on this now with our financial correspondent so fisherman skee in new york sophie clearly the latest ratcheting up of trade tensions between the u.s. and china there how's that playing out on wall street. well investors here have tend to downplay concerns about these trade conflicts for the longest time and have been focusing on fundamentals and earnings but when we look at the charts out the dollar jones for example and other indices we can see subtle signs of declining optimism wall street lost a few points on per se on friday it did look at a little better again but it is gone all over that investors don't pay attention to the terror threats at all the back and forth between china and the you as has

turned into a downward spiral with neither of the two sides giving in so wall street is asking where is this going to end will trump be able to turn all of this into a win win situation or at least into america wins a situation all with china think he's taking it too far and retaliate even harder once american companies begin to suffer from protectionism and retaliation wall street cannot longer ignore the possibility of trans trade policy harming that compromise they are invested in in the long term at least but then again there are a lot of distractions at the moment like earnings like the new market cap record from apple and so the s. and p. five hundred and that outgrowth rolls on friday so if you ask you for us in new york thanks for that safety. i b m b a's a ten years old in the home sharing website has disrupted the travel industry like no other turning ten tenants into hotel but resistance is growing in many places including in the german city of new

nick which is threatening to find the company for shaking things up a step too far. the highest rents in all of germany it's also a major tourist destination some residence here and good returns of the air b.n. b. apartments as these officials in the local authority know only too well munich homeowners and tenants need a permit to rent out their apartments for more than eight weeks a year. the investigators suspect a tenant here of illegally renting out properties all year round. and on the front as if somebody said started in twenty seventeen with this apartment he was a kind of big player if you rented lots of flags and then saw that and then we'll be. on the biggest for me to. the investigators pay a visit to the apartment and speak to vacation was to gather evidence. their landlord will receive a hefty fine potentially up to five hundred thousand euros. it was

a secret. from you don't you can rent the place per day four hundred to two hundred fifty euros or if you do the math on the monthly rent is covert after just ten days of. finance europe and after that you start making a profit with a park but given. the idea behind air b.n. b. is that tourists like to feel at home. since its founding the company has grown from one hundred thousand registered listings to four and a half million b.m.p. rents out more rooms in munich than the five largest hotel chains combined. you know how merc in northern germany some landlords have even kicked out long term tenants so that they can profit from the air b.n. b. boom when you could think about suspected that's what's happened to her. she lived in her apartment for thirty three years she raised her children there and knew all her neighbors then she got an addiction notice the none of claimed he needed the

flat for his own use. that night when i came to someone suggested i take a look at m.g.m. b. if they suspected it was being offered on their website and committed yet this is the out on air b.n. b. part of her kitchen are still in the apartment it now costs fifty nine years polite does eight hundred a month more than four times the original rent money going to be able now is to pay much higher rent elsewhere and is suing their b. and b. for tourists a cheap option below days around the world but for residents looking for rentals it's a potential nightmare. amazon founder jeff bezos could be falling behind in the private sector space race there are signs that his firm's heavy rockets at the liftoff and twenty twenty may live behind schedule his company blue origin faces stiff competition from none other than it all musk and his space x. . just

a month ago amazon founder jeff bezos is rocket company successfully pulled off its most important test to date. but reports are now saying the twenty twenty liftoff date may be moved back engineers are still finalizing details on the heavy launch rocket bases as frequently stressed that the timing depends on perfecting the vehicle safety. and side stand on this vehicle is going to carry humans we're going to make it is safe as we can make it we're going to test it we're not going to take any short cuts so we'll put humans on this vehicle when we're ready and not a second sooner the reusable launch vehicle will be used to transport satellites it will also take tourists into space and bring them back to earth again. can you imagine how alan shepard must have felt.

all those years ago most of them pretty cool space travel has come a long way since astronaut alan shepard's historic journey in one thousand nine hundred sixty one now basis wants to expand the company by doubling its workforce over the next two or three years to around three thousand employees sort. as germany spain has the transaction transition to green energy it's encouraging others to do the same and with plenty of sun and wind africa's one place you think renewals would make a lot of sense but a report from the of the cacique group oil change international accuses rich countries of promoting debt energy in africa and prioritizing fossil fuel development that at the expense of clean energy sources it estimates that some sixty percent of aid given to africa's energy sector went into fossil fuels. and here i spoke to an extent because from oil change international he's the

director of the stop funding fossil fuels program that i asked him why shouldn't africa take advantage of the resource if it brazil's as it has in creating fossil fuels and i think it's really a decision that's in many ways up to african governments and the people that they represent about what the energy futures ought to be on the continent but i think the issue that our report highlights is that we're talking about a lot of international public money so government backed taxpayer money flowing into africa to support energy development and what we're seeing there from this relatively scarce public finance there's not a lot of this money floating around and we needed to do a lot of work we needed to help address sustainability goals we need to help address development goals we're seeing a lot of that finance flow to fossil fuels and a lot of the time what our analysis discovered is that quite a bit of that money supporting fossil fuels are actually supporting the economic interest of the countries providing the money not necessarily focusing on the

development benefits for for people in africa but we should say that your report also points out that forty percent of financing does go to other energy sources not fossil fuels i'm seeing here i mean that's not nothing how is that being used. yeah a lot of that finance is for transmission and distribution expansion so expanding the grid a lot of that sort of that other category is is in large hydro which we don't count as sort of green energy and that's actually you mentioned that the world bank group disputes our estimates that's one of the areas of difference that we have with them we count that as other instead of green energy because of its social and environmental impacts but there is some finance going to renewable energy as well to solar and wind and our our emphasis is that you know we look at the evidence and the analysis by the international energy agency and we see that if we want to achieve universal access to electricity for the hundreds of millions of people in africa who currently are without electricity it's going to require more investments in renewable energy i mean you mentioned access to the great some places aren't yet

connected to the great so should we be telling countries how to get online what about using fossil fuels as a stopgap. yeah i think it's up to the governments themselves and the people of african countries to make decisions on their energy sources and what kinds of projects they want to invest in but i think that the evidence shows that on a least cost basis if we want to connect the hundreds of millions of people without access to electricity in africa right now to energy services that the most affordable way to do so for most people on the continent is through distributed renewable energy through off grid and many grid approaches i'm rather than through fossil fuels as a stopgap so a lot of the communities that are rural communities that are that are off the grid that are using diesel generators for example right now that's an extremely expensive way to produce energy services and are renewable turnips that are becoming more oh by the day alex decus from oil change international thank you. and that's it you're up to date with the latest from the world of business from all

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