hello and welcome to your business update another week another escalation in the tit for tat tire of spot between the united states and china this time the u.s. is imposing tariffs on two hundred billion dollars worth of chinese imports beijing responded with sixty billion dollars of tariffs on u.s. goods on look we stressing that a dialogue based on a quality good faith and mutual respect is the only right way out of this trade dispute. going on what the u.s. is doing now shows neither sincerity nor goodwill on the porch on. the head of beijing's retaliation u.s. president donald trump appear to think the move was enough to force china to the negotiating table. so china is now paying those billions of dollars in tariffs and

hopefully will be able to work something out with the i think they want to make a deal they do want to make a deal that i can tell you they want to make a deal. but from our standpoint it has to be fair it has to take care of our workers but both economies could now be losing room to maneuver trump has already threatened another batch of tariffs if he carries through it would mean taxing almost every single product china sells to the united states. to slovakia now where british brands jack you are on land rover will soon be rolling off the production line at this plant in the city of need. as the united kingdom prepares to leave the european union it could be every other poignant syce . meanwhile in the u.k. things don't look too rosy for staff at a jack your plant in birmingham where workers have been told they're moving to a three day week. with fewer than two hundred days to go before britain leaves the

e.u. there are still a host of issues that need to be hammered tires this week the blocks chief threats of negotiation michel barnier twee said deal with the u.k. is possible if the integrity of the single markets is preserved. in other words britain will not get preferential treatment when it comes to accessing the single market is the prospect of the u.k. leaving without a deal a so-called hard breakfast is now looking more likely i.m.f. chief christine legarde had this to say about the possible effects. it would be a shock to supply. inevitably have a series of consequences in terms of. reduced growth going forward. increase deficit most likely depreciation of the currency. you

know in reasonably short order. a reduction of the size of the economy with so many questions still open many companies are seeking to make arrangements in the case of a no deal practice that sparked fears of a corporate flight out of the u k. this week is emerged that germany's deutsche bank is reportedly considering shifting hundreds of billions of euros from london to frankfurt swiss bank u.s.p. has chosen frankfurt as its new european harbor. now to some other stories making the business news this week e.u. regulators have opened an investigation into car makers b.m.w. dimer and v.w. the probe will focus on whether the auto makers agreed not to compete against each other in developing technology to restrict pollution it's proven the carmakers

could face billions in fines. hackers have stolen sixty million dollars from the japanese virtual currency exchange called zaeef they made off with a total of six thousand bitcoins plus an unknown quantity of other digital currencies following the heart of the company said it had reached an agreement to sell the majority of the exchange to another firm if the deal goes through the funds will be used to reimburse customers earlier this year the japanese provider coin check lost half a billion dollars and a hark. the world's first hydrogen powered passenger train has been launched in germany it's a viable comes as the country tries to cut its reliance on diesel guzzling vehicles the water powered train can travel a thousand kilometers on a single tank of hydrogen the only emissions are steam and water plants are already

underway for a hydrogen filling station and fourteen for their hydro generator trains. rupert's were in focus at the world artificial intelligence conference in shanghai this week the event brings together scientists developers and corporations china says it's willing to share development opportunities in the digital economy with other countries. one major area of interest for programmers around the world is machine learning the opportunities for growth appear to be significant even if there are a few stumbles along the way. staying with robots here at the micro see starts up in berlin programmers are teaching machines how to recognize objects out their functions. those with the know how to do this are in high demand in germany competition for their skills is fierce.

has come to us with a couple of candidates who have these very specialized qualifications are very good at what they do and will invite them in and discover yeah we'd like to work with you in that case we're happy to pay you to bring this sort of talent to berlin. these kinds of programs is tricky there are no a stoppage procedures to fall back on that makes projects of this kind especially challenging my crops he wants to revolutionize mechanical engineering but competition is fierce and the race to recruit talent is ongoing. yeah i get a lot of calls from a cruiser is. a minute distance from the beginning it was hard to shield myself from the. two thirds of germany's artificial intelligence companies are located in

berlin for some the high quality of life helps compensate for the lower pay than in silicon valley but there are limits. it's impossible to get someone competent in berlin for under fifty thousand euros a year. a lot of people make a lot more than that here. don't tell my stuff but our pay is more modest because we have people who are happy to be here. the company hopes that location can help attract and keep stuff as it races against competitors to make artificial intelligence part of daily life. living in tiny shoe box like accommodation is becoming more common in hong kong as

the cost of real estate and rents soar authorities are scrambling to find answers to what's becoming a major source of economic and social unrest. one proposal is to reclaim more land to build on along the harbor but some residents are taking matters into their own hands and occupying industrial spaces dangerous and also illegal. while prices jumped nearly fifteen percent last year hong kong is still only the fifth hottest property market in the world hotter still is a vancouver where prices rose sixteen percent both cities are outstripped by reykjavik and izmir but the upward swing is most evident in berlin where prices have skyrocketed over twenty percent. the reasons for runaway real estate prices are manifold

a big one is simply supply and demand it's population growth outpaces construction but residents the world over put at least part of the blame on foreign investment driving up prices in an era of cheap money to tackle the problem berlin's local government is currently mulling a plan to restrict foreign ownership of homes. a few months ago there was nothing more here than muddy fields now construction workers are busy around the clock the group has invested three point five billion u.s. dollars in a plant that will money factor cars and the electric scooters. the site's located near the port city of haifa and covers three hundred thirty five hectors the project has generated enormous interest especially from those hoping to become trainees. it's always been the dream to have its

own car brand then fast it's like a magnus to give you an example. we had two hundred apprenticeship positions to fill in the first year and received more than four thousand applications from. the printers mechanics and engineers received german style training sixty percent tractors and forty percent theory the chairman chamber of commerce in maine says he helped with the planning the apprentices come from all over vietnam. i'm really. a young. person and. in just a few weeks the first scooters will roll off the assembly line here. at the end of

twenty nineteen the first cars made in vietnam will be ready to roll as well the technology and production lines were imported from germany the target customers vietnam's growing middle class. given group are already has four million customers across vietnam they don't only have a good income they also love vietnamese products. then grouper ready operates department stores and buys a dental complexes in vietnam in the future it wants to focus on industrial goods cars are just the beginning suppliers from germany are ready sashing up shop on the new site if things start getting tice there are plans to expand planners here don't think small. and that bucks up your business update join us again next week.

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