the blue chip stocks. had out first we'll have that story and a roundup of all of your business headlines coming right up. lehman brothers ten years on a story of ambition greed and megalomania. we're

so glad about the reason. the lights what little clothing miss macgregor's called the carousel within the first star. everything is wrong to want you to ignore the reality that the whole thing might blow up in the face of a system that spun out of control. there were a lot of members of the current investment bank lehman brothers start september thirteenth on g.w. . little. good bye come out of spunk hello wild card as a germany's second biggest lender was unceremoniously kicked out of the blue chip index duck's back on live up stalled we are asking is germany's economy too dependent on old fashioned business models. also the show give me the. and quick as

argentina goes begging to the i.m.f. for more urgent emergency assistance the argentinean economy is just one step away from the base. business to business and get out. why a car bavarian firm specialize that online payments is set to not germany second biggest lender combat's bank out of the blue chip stocks index today is the latest sign of plucky fin takes out shining traditional banks wild card makes software for cashless contactless payments the company started out process in car payments for gambling and put all were free websites and now some of the biggest names in business are using it. 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. i'm thinking to begin with it looks relatively easy and all the trader has to do is integrate it and software now that you also have to look very closely at the security anger when you hear about how much data gets stolen 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. and why a card is growing along with it the company employs five thousand people one of these i t specialists at its headquarters are discussing their expansion plans for the u.s. . and a short while ago why a card acquired a transaction banking provider in india. to believe in online retailing is boosting why a card profits all over the world as retailers line up for the company's software

solutions. in the c.f. i think we've always known very well that we need to move into markets are going to expanding rapidly in the sunshine but we have to offer solutions for the customer only needs one partner and by focusing fer me on that approach then i think we've got a good point as to the direction to take on that which was the key and individualized . online casinos also use wire 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 having our value added change them. so mentoring its market position why god also offers a host of other services including risk management call centers and customer loyalty schemes. here's an interesting fact if you look at the most successful

companies in the u.s. you find names like amazon google apple topping the list if you look at germany most of the top five were founded before one thousand nine hundred so could this be a watershed moment that's what i want to discuss with fin tech correspondent stephen busy stephen what does that move mean focal mass for me kicked out by technology stocks. i mean you know is this a watershed moment for it is that's what it means for them it's definitely a sign or sort of a formal indication of what a lot of investors are already known which is that they were in trouble and there was not a lot of positivity around them. is it comparable necessarily to an amazon apple these are sort of purely online real tech companies that have disrupted something completely i think you can argue with why are card it's really found a terrific sort of market in terms of digital payments online payments and the upside is huge and so but it's not necessarily the perfect template for

a lot of other german businesses you do see in the tech sector for example more biotech more can text a lot of firms that are manufacturing things still which in many traditionally is good anyway exactly and that's what these companies these are big manufacturing companies to support germany's export market and so you're not going to see a whole lot of amazons or apples in there and there is more money in the u.s. anyway as for these fantastic and there's going to be here in europe at the moment that changes you're out of the comparison was a bit unfair myself but what does that mean for a company like come out spunk now i mean what it means it probably doesn't mean a thing for the customers right you're not going to find less money in your account what it means is that comments by itself has to try and it has to relieve investors it has to reassure them because what this is. remember this is a measure of what investors believe might spark not just their business failures and their mistakes which there are plenty of too but what they believe the future holds and they have to convince investors that they can be more agile that they can

be almost as nimble as in the event techs and that is a very very hard thing for them to do but that's the direction they have to go in and if you listen to their c.e.o. he says that's what we're going to do we're not going to let this phase us we're going to continue with our digitalisation plan. is this is the exception there are the other team to companies ready to give the older lead to kick up the backside there are lots of companies in the moment especially in germany there are in fact there are so many facts coming around that the biggest fan techs are those that serve other fin techs they create the software for the banking software that's based on more sort of you know sort of software new guard instead of the old guard software but their names such as tracks. but then the one that's really challenging the old guard is in twenty six and that's a smartphone based banking system it just reached over one million customers it has a lot of investment so that's what they have to watch out for is companies like that i think the whole these legacy companies have to watch out for someone steve busy thank you very much. phone to argentina which urgently needs

money whereas i was negotiated a loan from the international monetary fund in june to stabilize the economy but just three months later it wants to renegotiate that agreement because things are getting worse and the i.m.f. says it's getting to do more like paying the next installments of the loan have been planned but first the two sides need to come to an agreement in washington today. a cheerful reunion but it wasn't long ago that christine like out a nickel asked to help me every 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 when.

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 now. listen because if you don't see it goes out 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. well as

a teen as currency is certainly not the only one in need of a prayer the turkish lira has been under pressure for a while due to the south african rand and now in the nation's rupee dropped to its lowest level since the nine hundred ninety eight asian financial crisis that's bringing in only basel financial correspondent from france but we wind this browse on emerging economies currencies right now it's like an infectious disease isn't it . it is spreading and the investors are becoming a little bit scared here with the viewpoint from the emerging markets and they're seeing similar developments not the same but similar growth problems inflation problems attack on the currency and the government or the central banks not really providing clear answers and answers that are satisfying that are that are satisfying the investors that the doubts are superfluous so no investor wants to be caught in an emerging country now at the moment i think to be the last one out in

case it spirals forward so you see people taking flight now and the problem is there's an attractive place to go away from the emerging country merging market country with maybe too high inflation with growth sagging south africa going into recession and the us economy is humming along rates are going up the dollar's becoming more attractive that's where you go. how dangerous is this though it could be could this be the seed for the next financial crisis. i think it's too early to give a yes or a no there is a movement away from the emerging market countries if they answer and a satisfactory way could maybe cool down but it's heating up rather than cooling down at the moment but you have other problem areas in the world as well hot spots that could also be the seed of a financial crisis some people say after a long year long upswing in the markets and with the economy and it's perhaps at

some point time for that the trade unrest as as one possible also source for a crisis as would be italy's financial situation at the moment right here in europe all of us in frankfurt thank you. for workers in germany are sending more money back to their home countries the value aforementioned says rose by a third between the last two in the last two years rather to four point six billion euros according to germany's central bank the increase reflects a higher number of my friends from countries like syria and many transfer transfers also go to eastern european countries from instances from overseas workers are vital for many developing economies. oh. that's it for me on the business team thanks for watching.

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lifestyle during. the moment. in a mounting sixteen and i'm crying echoed around the world. young people rebelled against their parents' generation. it was a constant dusty full of stupidity antigens the street they demanded nothing more than a home says some of the wanted maelstrom of in syria pilots with the vietnam war playing a role in marjah operation to watch the vietnam war every day. our documentary takes a little while tons of those more than are members of. the first line had

a feeling of being part of something. means of those events today. to soon spoke of civil rights the peace movement the women's movement for a planet during this period. in sixty eight. this week. i'm max merrill welcome to the day's edition of your i'm x. your european lifestyle and culture program here's what we've got in store for you today. the trace vintage car physiologist flock to the most

of us to vote in denmark. historic inventory we visit the high.