nice. coming up ahead. trish because show jimmy's cutting itself the benefits treating fox spot is enough to have growing trade tensions. we'll have that story coming up shortly. where i come from we have to fight for a free press and was born and raised in need telling the painter she would just want to be shadow and if you newspapers when official information as a journeys i have work on the streets of many can resist and their problems are always the same fourteen solution inequality a lack of the freedom of the press and corruption we can afford to stay silent when it comes to the fans of the human scene right to fools who have decided to put

their trust in us. my name is jenny harrison at the top of the. fresh figures out today show germany's trade surplus is finally shrinking the i.m.f. chief economist still says germany is falling international trade but not investing and consuming enough. plus facebook now wants your bank details upcoming features in its messenger service could see the social media giant branching out into the fin tech sector. and the heat wave in europe is hitting farmers hard about might turn out a boon for the wine industry. this deed of your business i'm doubtful

welcome german monthly trade figures have just come out and there is indeed a mild surprise the seasonally adjusted trades narrowed to nineteen point three billion euros mainly because import levels on a record high that could come as welcome news to the critics of germany's massive trade like us president don't trump for example but the international monetary fund has also long criticized the imbalance and is not sure germany has done enough to contract it in a moment we'll discuss what germany can and should do about it but first this report. international trading partners have long begrudged germany its trade balance the country sells much more than it buys engineering and technology among its top exports and the i.m.f. says that's helping to fuel global trade tensions it warns that surplus could hurt global financial stability in the long run today's figures from the german

statistics bureau show that in june this year germany exported goods worth more than one hundred fifteen billion euros up nearly eight percent on june last year and imported around ninety four billion euros worth that's the highest monthly import value since foreign trade statistics were first published in one thousand nine hundred fifty and just over ten percent up year on year but ahead of these numbers the i.m.f. has been saying germany isn't doing enough to correct the imbalance its chief economist says it's nothing to be proud of in contrast to the common assumption a large trade surplus is not necessarily a sign of strength it can rather be seen as evidence of weak don't mistake investment. the i.m.f. and the european commission have long urged germany to boost domestic demand by lifting wages and investment to reduce what they call global economic imbalances u.s. president ronald trump has also repeatedly criticized germany's export strength spilt

and other economists say that countries in which the balance is too high like germany should increase government spending by investing in infrastructure or digitalized nation for example that would encourage companies to invest more domestically rather than looking abroad. let's discuss germany's trade. fees from the hans voeckler foundation think time of germany's confederation consideration of trade unions. the i.m.f. says germans germany's hesitancy to reduce its trade plus is contributing to trade tensions and adds to risks that could undermine global financial stability does the international monetary fund does indeed donald trump have a point the international monetary fund has a point and in this criticism donald trump also has a point and basically he has this criticism not only with the international monetary fund but also with the european central bank is a european commission and they are indeed right we are exporting much more than we

importing which necessitates that the rest of the world does exactly the opposite then porting much more than they exporting and they basically finance is via debt so they increase their debts so we're living off our economic model is built on others increasing their debts and this is clearly not sustainable and this was also one like that don't we we like that because it's not us who make the debts it's the others but at some point they will have difficulties and we've reached this point already this was a financial crisis of two thousand and nine and two thousand and ten the europe is the euro crisis. so this is not only some abstract danger that lurks in the future we've already been at that point if we only come out of this crisis because of very low interest rates. management more government that bothers but it is likely that the situation might repeat in the future. is germany really to blame as many politicians say for the popularity of german products around the world so this is

a little bit of a misconception the problem is not that we exporting so much because we're doing because it's basically it's attractive the problem is that we're importing so little relative to what we export that's the real problem is it because we make everything ourselves no we don't it's because domestic demand for the last twenty years has been stagnant more or less it has been grown additional bits recently but not enough so that we can import more how can we increase domestic demand we can do it for instance by government spending we now have a huge surplus in government accounts huge takes of classes that we didn't used to have the government could spend much more for instance on infrastructure we have a crumbling infrastructure in germany because we have this debt mania we don't want to have more debts now we have to stop us if we could use the surpluses invest in infrastructure hire more people they would have higher income they would spend it and part of the spending would go into imports briefly if you count why on germany not spending its money we cause we have the debt break we have

a debt mania we say public debt is. the worst and we're paying the price in a crumbling infrastructure for that. thank you very much. germany's economy minister. says berlin now wants to intervene if nonie you bias and tend to acquire more than a fifteen percent stake in a german firm a new law being drafted would mean further tightening from current rules allowing government intervention if a foreign company bought a twenty five percent share of the german one last week but instead it was ready to block the purchase of mechanical engineering engineering company life it by chinese investors there are fears that for an acquisition might threaten national security and the loss of key technologies. facebook is after your financial data now it's asking banks for users financial information like credit card transactions and account balances that's what the wall street journal is reporting

facebook wants to use that data for new features for its messaging service including account balance updates and fraud. also asked several banks to discuss other potential services it could host for bank customers report is coming at a time where facebook has been under intense scrutiny over privacy concerns. bring in our financial correspondent who is now the frankfurt stocking strange actually on the top of the front. cover of what exactly does facebook want to do with his data and what's the market stock markets take on this. facebook once it's made messenger service to become a platform for financial transactions a place where people can make payments and the markets take on this is positive the stock price of facebook has gained nicely after the news came out and from an investor's point of view all this really makes sense facebook recently talked about

how it might become difficult in the future to increase its customer base as fast as much as as it has managed in the past analysts are talking about how especially here in the western world peake facebook might have been reached so facebook must do something to increase traffic on its platforms after the recent purposes scandals will users give facebook to have banking details. well that's a big question of course and if you look on the internet in the discussion platforms about this story the majority of people there are appalled about the idea to you know share your banking data with a company like facebook so obviously the banks are walking a very very fine line here but also they have to follow the trend at the trend goes tech the banks have to make sure not to lose too much of the

payments business to the tech companies. for such a long time they have been trying to you know appeal to a younger crowd that's used to use their mobile devices for everything so the trend is in a inevitable collarbones in frankfurt thank you. the past months of brought record temperatures worldwide in europe and to germany as well this has many negative side effects farmers for example are struggling but then there are those who celebrate the weather profit from it wine makers for example expect an excellent vintage and some of already started the harvests. hot dry weather just right for grapes that's why this summer has been perfect after too much rain last year. due to the temperatures the grape harvest has already begun here in the famous ryan heston region for example.

special is that production started about two weeks earlier this year the dogs. were harvesting at the beginning of august already. be finishing today. and the young one will be in the shops by friday but that's great the market is waiting for it. one hundred by the time off. like many here the vols family near mines specialize in a partially fermented young wine called feet of ice or because of the sun the grapes are especially sweet this year they yield a fruity wine with a high level of alcohol german wine makers are expecting the twenty eighteen vintage to be exceptional they're among the few german businesses that might hope to profit from climate change. and the average annual temperatures are getting higher we can see that. for future charlotte some forty years ago in one nine hundred seventy six we also had

a very hot and dry year. bar so it doesn't mean that it's happening more and more often now because. they meet alpha maybe next summer will be very cool and wet let's wait and see. if the climate is getting hotter and drier growing his'n vineyards plan to start growing new varieties of grapes the both family have set their eyes on red wines. ok forward to that one and that's it from me on the business same here and i'll update for you in the next up thank you very much for watching it of your business about.

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