time to trim those growth forecasts mr bush to russia says new you were sanctions will pressure the ruble and fuel capital outflows over the next twelve months. and high temperatures and little rainfall across much of europe are causing many farmers to fear for their livelihood. this is your business update i'm helen hunt free glad you could join me well the latest a traunch of u.s. sanctions against russia came into effect on wednesday and officials in moscow say they're bracing for lower growth and they weaker ruble as a direct result until now the kremlin had dismissed the big falls in the currency as market volatility but not i mean will. the world you know it's a russian reporter saying that the u.s. has no foundered sports or gas turbines to russia along with key items to the aviation industry like jet engines and electronics. until now the kremlin has been

demonstrably on ruffled by u.s. sanctions especially since an earlier round had long reduced trade in military goods. but the mere announcement of this list sent stocks in large state owned companies tumbling on the moscow stock exchange. flag carrier aeroflot slid twelve percent of the beginning of august when the sanctions were decided. on the ruble exchange rate has dropped sharply in recent weeks foreign minister sergei lavrov has outraged simple you're finished all sorts of it's quite obvious that these sanctions have nothing to do with syria ukraine or crimea. they're being used to enforce unfair trading conditions or to hobble the russian economy with. a further round of sanctions lined up for november could target banks u.s. russian air links imports and exports and diplomatic relations. they would hit russia's six largest state controlled banks as well as the country's

entire oil and gas industry all of which would have dire effects on the russian economy. oh whole street has faced his longest full run in history and that just fighting news that chumps for manoir michael cohen a former election campaign manager all manifolds could face long prison sentences uncertainty remains though will their actions have a negative effect on republican chances in the november midterm elections and what could it mean for the president. well let's get the latest from wall street our financial correspondent so if you shouldn't he is standing by sophie it was a remarkable day yesterday in the trials of cohen and amount of food what half the markets made of these developments. well one would think that this would have an impact on performance and stability of the financial markets as most investors are investing not only based on numbers but also based on assumptions about how the

stock prices are going to further develop and as people close to top are falling some certainly might fear they could take trump down with them or at least endanger the status quo by whatever is happening in the white house does not seem to concern investors too much at the moment they're investing in strong company strong companies that just through parted good earnings that flourished in a solidly growing economy and even if we might see a small loss on the stock or two like we did on wednesday that does not mean that people are selling stocks and panic maybe some investors simply might have stopped buying and prefer to watch the market while holding onto this stocks interesting times but of course the bull run continues as well i suppose the question really is now how long can we expect it to do so. yes over rarely we have seen or have been seeing have actually been going on for nine and

a half years since march two thousand and two thousand and nine there was one market slowly started recovering from the financial crisis but there are threats to learning for example the multiple trade wars that haven't impacted the markets yet because investors seem to be thinking trump can succeed in talking to foreign leaders and to get a good deal for the u.s. and then of course some bears are showing up for simply saying the stock market is at the end of a cycle of growth so is the economy so we're going to see a recession this i think might be a little too pessimistic and also too simplistic but i think with rising interest rates the likelihood of a smaller correction in the markets becomes at least realistic all right save a human ski in new york for us thanks for that sixty. europe is basking in its hospice almost since one thousand nine hundred seventy six but there is one huge downside that's hardly any rate that's threatening the livelihoods of thousands of

farmers in fact drought is wreaking havoc around the world some countries have even declared a state of emergency. the drought has affected all of northern europe even north of the arctic circle temperatures rose above thirty degrees at times scandinavian farmers are expecting the worst harvest in a quarter of a century the governments of lithuania have both declared a state of emergency farmers in poland and the czech republic watching their crops wilt and expect the damage to be long term experts say climate change is at least partly responsible for the drought and expect further problems around the globe or climate models are seeing that the negative impacts of climate change are all made reports there will be much more severe regions of africa and europe and that means. because. negative movie where people are already poor and that's something

we need to think very seriously. africa for one has been hit by an unusual a severe drought this year cape town became the first metropolis to strictly ration water. for. farmers and australia ran out of water for their cattle drought there has even driven wild emal sim to the cities searching for water. in north america droughts has sparked catastrophic wildfires along the western seaboard from california to the canadian province of british columbia millions of hectares of forest burned down the smoke creating a major health scare. meanwhile farmers in mexico have found a culprit for. drought in the central state of puebla they play in german call make-a folks fog and now in june v.w. started to use hail cannons to protect new cars in the front outdoor parking lots

the sonic devices are meant to disrupt the formation of hail in the atmosphere prevent hail storms but farmers allege they also prevent any other form of precipitation the region has not seen rain since may almost say they have lost two thousand hectares of crops in the seeking over three billion euros in compensation from the north america. almost take away containers and coffee cups as we know contain pala styrene the plastic is tricky to recycle it often ends up in landfills oceans but this is a canadian startup may have found a solution while turning a profit at the same time. it starts to go in solution we just heard a little bit expanded polystyrene also look at all what you have to do with this thought experiment polystyrene dissolved in a solution and then turned into recyclable pellets it's the first time it's ever been done the montreal based company policy then turns environmentally unsound

garbage into a valuable product. founder solon blonde says their recycled pellets are much cheaper than buying new polystyrene. since you are really used to point daryn you don't have to extract all your gas china has stopped buying counted as waste it's an emergency situation for the north american country but for brewer it represents a great opportunity you have to see the waste as a resource and to use it locally to create jobs locally and traps just enable products locally so that's agreed if you lose that china doesn't want safeway saying you know they're completely right now police hopes he can convince communities to add polystyrene recycling bins. ai is known to have been fine to use i find movies from small factories in which the machines communicate with each other to improve production to intelligence software that validates you

insurance policy it is everywhere and that is one of the top ten locations in the wild for auto official intelligence research companies are struggling to find skilled human. and ronnie trains robots to learn skills they have to figure out where something is and what to do with it he takes them through thousands of different scenarios. but there aren't enough programmers in germany who can develop artificial intelligence projects like this. when you have. under a software as a couple of candidates who have these very specialized qualifications they're very good as it so will invite them in and discover yeah we'd like to work with you. then we're happy to pay to bring this sort of talent to berlin. threw in a startup aims to revolutionize mechanical engineering it's up against competitors

in the u.s. and china coding these kinds of programs is tricky there are no proven procedures to fall back on and that's what makes ai programming especially challenging. two thirds of germany's artificial intelligence companies are located in perl in the city is popular among a specialist quality of life helps compensate for lower pay than in silicon valley . as. it's impossible to get someone who's capable for under fifty thousand euros a year. a lot of people make much more than that here. but don't tell my staff our pay is more modest and that's because we have people who are happy to be here. the company hopes its location can help it attract and keep staff as it races against competitors to make

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