could london's last game but the german chancellor certainly seems to think so i'm going to call is making the case for a european financial hub on the banks of the river mine after the city of london also on the program which company turns twenty today you might want to google that we take a look at what has made the search engine one of the biggest corporations in the world. this is a business i'm christopher caldwell welcome i know america rarely makes personal appearances in frankfurt which is to finance what is berlin to politics but on tuesday the german chancellor made her way there to support the city's bid to become europe's new financial hotspot next year frankfurt is trying to attract banks leaving london after breaks it so they can continue to do business in the european union. the louvre gallery or the arc de triomphe globally recognized paris landmarks frankfurt count all the

candles of them it's a room a city hall pales in comparison but frankfurt was germany's financial hub even before the european central bank was headquartered here. that's why many in the city's banking district are especially optimistic about britain's exit from the e.u. . likes partly unfit the power export oriented economy needs modern regional and international finances sadnesses provided one goes hand in hand with the other and that's also why frankfurt is so important to do it on an increasing number of london banks are eyeing paris and frankfurt us potential locations because it seems clear that on the first of april next year they lose the right to conduct e.u. business from their london offices over twenty financial institutes of already decided on frankfurt. a fund for talking for a time frankfurt has the advantage that it's well established more so than paris frankfurt has the advantage of hosting the european central bank it's important for

financial operators to be physically close to it to understand what's happening there this year paris to go to boost when the supervisory european banking agency decided to relocate there from london. frankfurt also would be the paris was offering rent free officers and now it's offering tax breaks for the banks as well. earlier i asked our from national correspondent only bards how the chancellor made the case for frankfurt besides pointing out that many other banks and supervisory boards where already located in the city. three interesting points as well she was ready to go without tax hikes and that didn't wasn't clear whether that referred just to the financial industry or to germany as a whole but she wanted to rule. tax hikes and she wanted to make labor law more flexible that is only in the financial sector to accommodate the anglo-saxon kind of culture where you have hire and fire and she wanted to introduce less stringent

standards for firing people and of course then being able to hire interesting point and she made a strong case for supporting the doj should go this plea to locate euro clearing right here in frankfurt that's big business and if it's euro denominated stuff angela merkel says it's logical it should not be in a third state outside of the e.u. but right here in frankfurt now frankfurt is facing stiff competition by paris and dublin how likely is it then that i'm going back to his lobby work will be successful in the end. well she says that she had some practice in working to the good of the companies but also in the days was minister president of the c.d.u. and he poured a little bit of water into the wine himself and he said that it would be illusionary to expect that countless thousands of people from london would come over and indeed the financial market professionals are also looking at other places

like paris some milan and madrid. but many banks have said that they're going to move staff here and one hears from several dozen to a couple of hundred but the financial district in frankfurt is not that big to begin with and a couple of thousand more people would already be a great step forward believe art's reporting from frankfurt only thank you so much . now the market value of online retailer amazon surpassed one trillion dollars on tuesday if only briefly amazon stock rose during tuesday's trading session sending it beyond the mark before it fell back a short time later the company is the second u.s. firm to hit the threshold a measure of outstanding shares multiple by their value apple surpassed the one trillion dollar mark last month. for more let's cross over to our wall street's correspondent hans quarter amazon started as an online book retailer now it's a trillion dollar company obviously something worked here how do people on wall

street view amazon's business model these days well it's basically a data machine and we do see this with other companies as well it's the name of facebook for example that this is the currency of our time selling data so that's a big chunk of amazon's business they're all too strong when it comes for example to cloud computing online advertising becomes all still a bigger part and it's pretty amazing what's happened also to the stock price of amazon in the past couple of months just a good year ago and for the first time surpassed the one thousand dollars mark purse doc then last week we got to two thousand dollars a share and now we have this market valuation of one trillion dollars at least at some point during trading you don't you think yes thank you for the moment of a come back to you in just a minute because we have this other item here a new advertising campaign by sports equipment maker nike features american

football player calling capper nick as its figurehead and there's a lit up an already racially charged debate in the united states kaplan it is the quarterback who protested police violence against on people of color by kneeling during dinner national anthem dozens of other players joined mike in caprona continue to face a backlash on social media hashtags boycott nike and just burn it show fans discarding nike products but many others support the company's campaign. now back to unions in new york calling company is a controversial figure do investors think it is wise of nike to build a marketing campaign around. well to some of the reactions here on wall street a lot of analysts saying this decision might cause short term pain but could lead to long term again so there is no such thing to bet advertisement that people

say it will be discussed highly and the move actually could go well with millennial well for the day there was this pain the stock of the nikkei lost a good three percent in value and was the biggest loser in the dow jones industrial average but as mentioned a lot of analysts believe it could lead to long term gain as quarter of porting from the new york stock exchange yes thank you so much. germany is seeking to rein and us in a giants like google and facebook reforms to the country's competition law would strengthen the authority of his regulators to prevent u.s. internet platforms from becoming monopolies germany's economics minister paid altmire says the initiative will make competition law more effective and prevent abuse of market power in future companies like google or facebook would no longer be allowed to prevent business partners from working with its competitors the proposed legislation is also designed to stop big players from buying smaller

rivals just to shut them down. shortly executives in silicon valley will be watching this development closely especially if a company has risen to become such a market dominating force like google twenty years ago a pair of ph d. students working out of the proverbial garage wanted to make internet searches better google's ambitions were courageous delivering the world's information to anyone with internet access but a lot of changed over the twenty years. google's business model is simple users searching the internet tell google about themselves allowing google to sell targeted advertising to businesses the firm i.p.o. at eighty five dollars a share in two thousand and four and quickly rose in value. new products like google mail and acquisitions like you tube expanded google from a search engine into an online network where users could shop or find news. as the

mobile internet and apps began to rise google moved to make up ground to pioneer apple releasing the android operating system and app store. today google employs more than eighty five thousand people worldwide and is worth more than seven hundred billion dollars it has fifteen data centers around the world and that's part of the problem information is increasingly seen as something to protect tech firms are being held to new standards of social responsibility. and inside google there are pushes for gender diversity and against collaboration with governments like the u.s. or china. so a lot of transformation in only twenty years. south africa is officially in recession after its g.d.p. shrank for the second consecutive quarter that is the conference first recession since the two thousand and nine financial crisis the economic data are bad news for

south africa's president he needs strong growth to help reduce the country's twenty seven percent unemployment rate as well as its poverty and inequality the downturn is linked to south africa's weaken currency and investor fears over land reform. mercedes has unveiled its first all electric s.u.v. in a bid to challenge tesla and the premium electric vehicle market the subsidiary says it will begin production on the e.q. seen in the first half of next year the vehicle as a range of four hundred fifty kilometers. told reporters that mercedes was going all in on electric cars the company says it will offer ten models by twenty or twenty two. and that wraps up our show if you want more do check out our social media feeds for now from me and the entire team here in berlin thanks for watching

and see you tomorrow.

more dream go international talk show it's me too tumultuous week in german politics than europe resolve bitter divisions over migration the government is said into the abyss could friendly fire from president trump defeat one of the strongest military alliance in the streets point oh my guess. i have to say on quadriga. on t.w. . ever dreamt of going on and clearing smith dishes. don't miss this story for john j. should johnson takes you along on a thrilling and bone chilling journey each week as you can discover a huge story you spend looking silly story on instagram. climate change is affecting us old rising sea levels and erratic went out to join the rising water life streets. and through entire

communities. the good news is our own choices in energy conservation. recycling. and transport to rejoin the mind find out what you can do today at redraw the lines out all. the food. food. food food. and a warm welcome to a new edition of kino coming up in the show. the seventy fifth venice film festival what's called the lido asphalt gorillas are fast thanks to suffer in silence underworld and rockers go for political for a lot social story off and to nuclear protests.