spiraled out of control the southern african country of n. adopted the u.s. dollar and other foreign currencies are still couldn't stave off a cash crisis at the newly elected to present tense in madagascar says reviving the country's ruined economy is his top priority. i'll have more for you at the top of the auburn facility will be here in just a moment with business update a result good day. i've been trying to going on and clearing speed. don't miss this story which are patient johnson takes you along on a thrilling and bone chilling journey each week you can discover new stories and to take. your story on instagram.

fun be told. his works and god is for to know. the munchies and feed. the children to a strong twenty two. gate scandal finally reaches the job of the courts a test case against fox fox is underway if e.-w. loses it could be forced to pay billions of euros in damages. china's best known entrepreneur jack ma says he's handing over his executive chairmanship of alibaba. and as a private debt in china continues to soar experts fear it might be spiralling out of control. i mean physical and let's do business this is going to be an

uphill battle for investors suing b.w. a court near headquarters in both spoke is examining whether the auto giant should have told them sooner about the emissions cheating scandal but a note in comments the judge said most of the claims might be past the statute of limitations in other words too much time has passed to take the complaints into consideration. who knew what and when the decisive questions braunschweig stop court has to answer in this test case did fox wagon wait too long before informing shareholders about the emerging admissions cheating scandal and is it therefore liable for substantial damages. the suit has been brought by the dick investment fund it wants two hundred million euros damages to cover its losses. but another seven thousand five hundred shareholders who lost money over the emissions scandal are lined up behind data altogether v.w.

shareholders are claiming nine and a half billion euros the figure is based on the forty percent drop in three w.'s share price in the first two weeks after the scandal became public. take on investment claims v.w. management knew about the emissions cheating devices installed in its vehicles long before then and should have informed shareholders if dick i investment wins this test case it would be followed by a veritable avalanche of claims. so-called red bulls and what do you reckon our financial correspondent standing by in frankfurt is there going to be an avalanche of lawsuits. it all depends on this one model court case which will set the president precedent for all those other thousands of claims that shareholders have filed in german courts in various german courts what i can tell you is that the plaintiffs in this model case to investment has probably found the

best litigation lawyer it could find here in germany under still. back after the back in the times after the tech bubble burst he was probably the most hated litigation lawyer in german tech firms among them deutsche telekom the fact that they car has him as its attorney is really an asset. while you're there just tell us how the dax is doing today because it had a really bad week last week it lost what three percent. yes a bit more than three percent and today you know there was no big recovery trading was very wobbly again you know ben we have a lot of reserve bank activity on the agenda this week with the european central bank likely to talk about the ending of its asset purchase programs and also in emerging economies there's a lot happening the turkish reserve bank as well as the reserve bank in russia will likely decide on higher interest rates when all cyrus the governors of the reserve

bank there will get together and you know talk about what how to deal with the high inflation and what to do after the huge slump of the peso all this is on investors' minds and it causes them to rather discuss those topics and discuss the risk that comes out of those countries and economies instead of you know investing and making right real investment decisions what we day for both financial markets and if we don't we think you can read. except for the british pound that is it surged today after the e.u. stock breaks that it goes indicated a divorce still could be breached within a matter of weeks shabani made the comments that form taking place in slovenia is what he had to say about being realistic. i see that really stick we are able to reach an agreement. on the first stage of this because you should

which is the brics it three g. . six or eight weeks the treaty is clear we have two years to reach an agreement before they leave two years after in march ninety that means that the ticking clock counted down necessary for the ratification process and also of comes from one side to your print parliament and cancer and those side we need we must reach an agreement. before the beginning of november i think it's possible because jack ma the founder of china's e-commerce giant alibaba has announced that he will be stepping down as the company's chairman by next september my boss china's online retail. masses he will be succeeded by c.e.o. daniel shang has been with the company for a living here is that already handles day to day operations jack mize a former english teacher who founded alley ballerina nine hundred ninety nine in an apartment to connect chinese exporters to foreign we tell us it is now the world's

largest e-commerce company will finish his term on the board of directors in twenty twenty min the hog's going to walk us through this story from now asia studios in singapore linda just explain to our viewers what sort of a role model played in china's e-commerce industry first of all. well i actually built up a time when internet como's was voted off sometime in the year two thousand and. a platform for business to business transactions and so it's actually helped to transform many chinese industries and from then on what it's actually kick started a lot of companies one is north of the tower which is actually one of the largest e-commerce sites for business and individuals to sell and this is actually china's largest e-commerce site and it plays a role in national role actually for the chinese economy to switch from one that is largely driven by infrastructure and exports it to something that is actually for

the domestic market driven by the domestic market in terms of consumption as well as services so he's actually on this that his legacy for for jack ma so basically he got in a good time very early on in the piece but he's winding down in his role of quite a bad time with this trade war between china and the u.s. on the intensified well you know like many chinese tech giants they've actually kept the government at length actually partly said that works with chinese authorities in terms of national security but he said he still thought to keep the government at arm's length now actually ali baba had had a good to run and it's actually made it been making a lot of revenues double digit revenues by the past few years and it's also a pretty diversified business still it's got its hands in things like cloud computing in financial services as well as in the developing cash payment so these

are the things that i should believe to buffer the impact of trade war going forward then can you briefly tell us what sort of a light this departure of his shines on corporate governance and succession in china. it's actually a contrast i mean he has three children and his three children are all not part of ali baba and it's kept out of the limelight and is actually his actually contrast the entrepreneurs that have actually been trying to find a succession plan they have relied on family so i get my say an exceptional case linda thank you very much and to china's big debt problem beijing wants to ensure economic growth is independent from the global economy domestic spending is encouraged that it's booming but many chinese live beyond their means economists a sounding the alarm. as a freelance interpreter leave beit doesn't have

a regular income she gets paid job by job and uses her credit card to tide her over she lives in beijing but comes from could mean when she bought a flat that she took out a mortgage to pay for it. over the past five years the volume of personal loans in china has doubled. lenders send out text messages once a month to remind their debtors to pay their instalments. that. being in debt is part of modern life the way things are nowadays you can't get by without credit just look at home prices when my parents were young the problem didn't exist prices didn't just keep rising. back then when a couple got married they'd save up some money the family would contribute a little and they'd pay for a new home in cash. debt already fuels large parts of the chinese economy add to that massive household debt and you may well have

a major problem of finance expert michael pettis says the situation resembles that of the united states in the run up to the financial crisis of two thousand and eight p. even if china's state owned banks can avert a full blown collapse a greater problem of too much debt is when you don't have a crisis for example japan japan never had a debt crisis but i did speak japan was seventeen percent of the global economy roughly the same size as china today. today after two three decades without a crisis what with too much that the japanese share of the global economy has dropped to roughly seven percent. lead pay for one isn't particularly worried a few years ago she received a lump sum as compensation when a contract was dissolved prematurely parents said she should use it to pay down her mortgage but she decided not to. you know.

if i had used all the money for that i wouldn't have any cash reserves now that might have meant i'm going to a smaller flat we're not going to cafes like this any more going out for a drink with my friends. i think. she chose to stick with a long term mortgage with low instalments at this rate leave bay won't have paid it off before she retires. i think business.

does the internet know how many votes for. the online jungle is to make so much entertainment products and pussy. and with every click that gets bigger. our shopping carts also carry our secrets thanks to our political means my house tomorrow today next computability.

jura. what unites. what divides us. the most. tragic force. what binds the continent to counter. the answers and stories. plenty of. spotlight on people. focus on girls on t w. earth. home to millions of species. worth saving. and those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world like to use the term the climate

boost to green energy solutions and reforestation. they create interactive content teaching the next generation about environmental protection and more determined to build something here for the next generation globalized years a multimedia environment series on g.w. . hello and welcome to tomorrow today great to have you with us. today this shows about our days have footprints and how much they reveal about us. also how a process at the very start of our life might explain what happens to our bones in old age. but first to outer space it's a very hostile environment for human beings but.