you get in the mood for a couple of probably do you. want your watching t.v. news still to come a wake up call for germany's banks a new player has just bumped some big named lenders off the books at doctors we'll find out more. comprehend that story coming right up in business. after. we speak different languages we fight for different things that's fine but we all stick up for freedom freedom of speech freedom of press. giving freedom of choice global news that matters w. made for minds. his creations. his brand the stink of the karl lagerfeld icon of the. book what do we really know

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things have got out free in berlin glad you could join me why i caught a variance i'm specialized in online payments looks poised to knowledge german joint comments bank out of the blue chip dax index today is the latest sign of plucky fin techs out shining traditional lead why call it makes software for cashless and contact list payments the company started out processing called payments for gambling and pornography websites and now some of the biggest names in business and using it services but munich airport chinese travelers are known as an avid buyers of luxury goods just before departure. since recently they've also been able to pay with early pay or we chat chinese payment systems. this watch merchant process is the transaction through the wire card company. germany's why a card takes a one point six percent commission for the service. on the phone bank with the

fifth to begin with it looks relatively easy and all the trader has to do is integrated it in software but as you also have to look very closely at the security anger when you hear about how much they target stowing we have to look after the data that means we have to make the corresponding tests in the data centers and get it all set up of this i am they from. and why a card is growing along with it the company employs five thousand people once these are t. specialist at its headquarters are discussing their expansion plans for the us. understand why they go why a card acquired a transaction banking provider in india. to tumen online retailing is boosting wild card profits all over the world as retailers line up for the company software solutions. we capture on the street in the c s i think we've always known very well isn't that we need to move into markets to groups like standing rapidly moving john but we have to. offer solutions where the customer only needs one partner and by

focusing firmly on that approach then i think we've got a good point as to the direction to take in wa and in. online casinos also use wild card companies come in for some criticism for that because online casinos are accused of having a lax attitude to money laundering and books but until then we support gambling we support illegal gambling operations that's why it's a perfectly reasonable link to have in our value added chain. so mentoring its market position why god also offers a host of other services including risk management call centers and customer loyalty schemes. and to talk more now about why a cause free astonishing trajectory steve in the business joins me now steve why card is now used by global corporations but his background is like that it rather unique what what can you tell us right i think you mentioned it online pornography

and of course the piece mentioned online casinos these are businesses that when they ping a bank the bank might look at it and it might raise alarms for them and so why are card essentially comes in between it works as a middleman between the merchant and the bank to essentially guarantee payments as it's grown it's become something simpler it's made online payments simpler for banks and so it's not just about insuring them but it's also about making them simple because there are many different payment schemes may different payment methods so they can get in there and sort of guarantee them and make that make it much easier for the business itself and what we are potentially see now is why you call it knocking off for example commits bank off the decks which is a pretty significant development is it a case of you know the new kid on the block knocking off that kind of stalled she old delenda right in some sense it is but you have to remember the comments bonk and swear card are really competing with each other they do different things but

what it does show us is that why of course of course it's offend tech it's financial technology company it's a symbol of these lighter more nimbler lighter footprint smaller footprint footprint firms they're competing at these legacy corporations that have lots of real estate lots of personnel costs why are card has five thousand employees commencement has forty eight thousand that tells you a lot right there it does indeed i like this comment from the c.e.o. of comments bank he said that the tax decision doesn't go ahead what does this tell us about germany's figure and. i mean what it does it's largely symbolic but it's a very big symbol you know would be taken off the docks and so in a way it sort of formalizes something that we've already known which is that these banks are struggling they're struggling business wise but they're also struggling in the perception of investors remember that market cap market capitalization is just as much about investor perception the value of your stock and so they look at these legacy banks and they say to themselves this is not going in the right

direction they're moving like dinosaurs they are lumbering because they can't be as quick they have all these overhead costs and so they're never going to make the transformation they need to make into these smaller firms like a wire card absolutely interesting and indeed tricky times in the digital age steve basically from business thanks a lot for looking into that story for us. well argentina needs money and what it is negotiate is a loan from the international monetary fund in june that was supposed to stabilize the ailing economy but just three months later it was to read it very state that agreement because things are getting worse and the i.m.f. says it's ready to do more like paying the next installments of the loan the first plan but first the sides need to come to an agreement in washington a cheerful reunion but it wasn't long ago that christine look out a nickel asked to help me if we read the fifty billion dollar loan but now they're back at the negotiating table the first third of that loan was already paid out in

june and the next installments are scheduled for the coming months but that's not fast enough for the argentinian economy minister he wants the second tranche in the next few weeks otherwise his country faces insolvency we're going to become a part of some going to form we're talking with the fund about how to continue advancing so that the impact of all the support that the international community has given to us when we close the agreement in june can materialize into an improvement in the fiscal indicators in argentina recording the scene because if you don't see it of. the i.m.f. says progress has been made and it's willing to make concessions it says it's hoping for a quick agreement but time is running out the peso has lost more than fifty percent of its value against the dollar since the year began on tuesday the central bank sold some three hundred sixty million dollars in foreign exchange reserves to support the currency but to little effect. the government has raised taxes and it's cut costs several ministries face the ax. but that's provoked angry street protests

along with calls for other forms of intervention as the financial crisis worsens the catholic church has called on the faithful to pray for three days. take it or leave it that's what trump told the canadians over the reworking of the north american free trade agreement canadian prime minister trudeau replied that he was holding out for a win win deal rhetoric aside both parties have agreed to head back to the negotiating table today and with good reason the potential three way deal with mexico covers a trillion dollars worth of trade. prime minister trudeau didn't seem too concerned despite the importance of a trade agreement with the u.s. three quarters of canada's international commerce is with its southern neighbor but he said he didn't want to deal at any cost. we will not sign a deal that is bad for canadians and quite frankly not having a chapter nineteen to ensure that the rules are followed would be bad for canadians

chapter nineteen of the trade agreement is a mechanism to resolve disputes through arbitration tribunal's so far the white house has refused to give ground president trump wants things done his way on his way to the golf course on the weekend he used twitter to threaten that he would stop talking to canada in that case candidate would no longer be party to the north american free trade agreement. the venezuelan government began a pilot program on tuesday in its border states to provide service stations with wireless devices that use a state backed identification document called the fatherland called to carry out fuel transactions president the credits my daughter says he wants to raise fuel prices to international levels and then allow venezuelans with the cost to buy at a discount but the government is struggling to rollout the new machines necessary for this game experts estimate that his weight in these at least five billion dollars per year as a result of not selling gasoline the international price. in venezuela's border

states drivers were stuck in long queues and worried that the price hikes would be immediate that the stations would run out of fuel at fuel stations along the border with colombia the new machines were either not installed or not functioning properly the army has been mobilized to god petrol stations as president nicolas maduro ramped up his rhetoric against gasoline smugglers from neighboring countries but venezuelans are skeptical. we'll see what happens if it solves the problem or not what will we do they're all in the same position queuing is always this doesn't change for anyone i don't think this is a solution the president says the system will pave the way to massive price rises in the country with the lowest gas prices in the world. he said our committees are not going out and here they start charging the international price credibility you know but we still don't have anything updated we don't even know what the price is

going to be no. government fears a repeat of deadly riots in response to previous gasoline price rises. and that's it you're up to date with the latest from the wall of business remember all the latest news and information is available on our website that is of course d w dot com slash business and we can also find us on facebook follow us on twitter at a w underscore this message on that saying that head of the seahawks. crating is my handle thanks and have a company come by so now. we'll

show you a very different side of jimmy's talent. nicole takes you wanted to of the governmental streets and goes behind the scenes at the reichstag. trying to underground tunnels on the way up to the glass table ah i'll also show you plenty aside even around the government corner. to a. trust

but verify a cardinal rule a business phone supervisory board. in the eurozone. in the fight against corruption tax evasion. and data theft. how important are checks and balances to a functioning economy. made in germany in sixty minutes. lehman brothers ten years on a story of ambition greed and megalomania. we're so glad about the legions intro the risk that's one. of investment bankers voltage ourselves with an ever stop. everything is wrong or wanted to ignore the reality

that the whole thing might blow up in the cases of a system that spun out of control. problem or there will. never be the crash the investment bank lehman brothers start september thirteenth on t w.