hold on to your seats global stock slump is the the next crisis of the us continues its news ing its street european equities or treat asia sees the worst losses in years. and he's in the driver's seat now b.m.w. takes a majority stake in it joint venture in china the first to do you say. this is your business update on how an arm free i'm glad you could join me on the international monetary fund's warnings about slower global growth rates weighed on stock markets on thursday germany's dax shed one and a half percent to close at a twenty one month low wall street was also still reeling the dow jones dropping nearly fourteen hundred points in just two days the biggest plunge since the

beginning of this year well president trumps initial criticism of the federal reserve's rate hikes had only added to market jitters and on thursday he wasted no time in taking another swipe at the fed. i think the fed is out of control i think what they're doing is wrong. i've been stray should you have a lot of help because they have very little interest you know when you talk about economies our economy is far better than that but we have actually we're paying interest and they were they were using it for anybody. but i think the fed is for too stringent and they're making a mistake well let's go straight over to our financial correspondent yens quarter now he is all not wall street yen for the blame game is afoot trump hitting out the federal reserve and its interest rate policy all of a big guilty party here. well it is possible that the rising

interest rates might be a damper on economic growth here in the united states but the big question is the why of the federal reserve increasing interest rates and that is partly because of the politics of the drum and administration for example when they started there was a mess of tax cuts earlier this year we have an economy here in the united states was almost full employment and then you have those mess of tax cuts that is actually driving inflation higher or also if you don't trade policies that makes imports more expensive into the united states so those are factors why inflation is on the rise not to mess of yet but that is one of the reasons why the federal reserve is increasing rates not just because they want to but because they have to and i guess you and i can talking about record after record after record in recent months what we're seeing now is it simply a downturn or correction. and that is the big debate that we're

having is a correction was and is still ongoing a bull market or is something bigger at play here at this point and certainly we can't answer this question yet but what will be very important to see is the upcoming earnings season that will actually really kick off on friday when the first big banks come with was with their results and we could see some headwinds for u.s. corporations with the higher dollar with higher rates with the slowing of the chinese economy or with higher commodity prices with tariffs on steel and element so it will partly depend on those results and if it only will be a correction or more a financial correspondent for us yang's quarter on wall street yang's many thanks indeed. bit by bit china continues to pry open its economy to outside is b.m.w. the first to take a majority stake in its joint venture that letting go of the steering wheel is a big thing for the chinese but a german car maker is investing three billion euro ace in factories that. times are

changing in china for the first time a foreign car maker has been allowed to acquire a majority stake in a joint venture b.m.w. now holds a seventy five percent stake previously foreign firms weren't allowed to own more than fifty percent of the step is supposed to show the world that china is opening up critics say it's a promising start but china will also benefit from the arrangement that's why chinese premier league charl made in person with a b.m.w. who go on wednesday kluger announced that b.m.w. would be investing three billion euros in building new factories in china over the next three years that gives china jobs and security in the midst of the trade war with the united states the munich based comic who will also invest heavily in developing electric vehicles in china for a year now they've been building electric motors there and office six models as fully electric versions of chinese want to profit from this know how the chinese

government has issued a new energy vehicle mandate which uses a system of credits to push automakers to increase the share of battery only and hybrid cars in their sales mix to cut down on smog combustion engine vehicles face restricted driving days of course the restrictions don't apply to electric vehicles china wants to become the world leader in electric cars and they're happy to get outside help to achieve that. and earlier we asked a favor myer from the fire research institute if b.m.w.'s huge investment in china made the deal possible. the opening up also sends a very powerful signal to washington to the white house because what people w. will do is relocate production of s.u.v.s from spartanburg to shenyang that will be something that the trump will notice and the shows very clearly china can do something about the trade war with america that it is in and it has allies in doing

so and b.m.w. more generally probably german commie because please be cruel in this cavity and five m.r. from eighty five research institute speaking to us earlier that while the e.u. has been trying hard to mitigate the effects of u.s. sanctions on iran they were reimposed after u.s. president donald trump with jury from the six party neatly deal which reigned in the country's nuclear industry besides the obvious industrial restrictions the sanctions have cost the iranian currency fifty percent of its value iranians are tending to bind govt to protect their savings sending gold prices their soaring. tehran's gold markets in the city's one thousand year old market district are world renowned now world events are driving prices here not only imminent years people are not sure what the future will bring exciting terms of decreased and living expenses increased so people are worried buying gold is seen as an investment and

from. home it infers an arrow shopping for wedding rings but the hesitating of the prices the iranian currency is depreciating every day the latest u.s. sanctions already impacting daily life. the more it will i guess it has to do with world politics and the nuclear energy deal. i'm not so sure but it's all the fault of the united states. the nuclear deal was seen as a lifeline for iran by committing to not develop nuclear weapons the economy would take off but after trump pulled out and threatened anyone trading with iran many foreign companies that have begun investing here have no left but the mood in tehran is no one of insecurity. and homemade or keeping their wedding as modest as they can but like so many other weddings in iran now a days. we're trying to keep it as simple as possible paid in cash if it's not

a. french president a minor in my cause no one did as a crime a hero but his country's lagging when it comes to renewables he wants to produce twenty three percent of the energy mix with green sources by twenty twenty but that won't happen if the french can't get those turbines spinning. this wind farm developer has high hopes for the french market he wants to launch dozens of additional projects like this one. france especially there is window everywhere and you can establish wind farms all across the country that's not possible in other countries such as germany but constructing new on shore wind farms isn't easy in france it can. take up to eight years to obtain the necessary permits and that process is now facing further delays late last year a court decision declared parts of the permit in procedure voigt. who support. the government should have taken care of this problem straight away it still hasn't

pinned down the new purging process more losing so much time is very frustrating. the deadlock will delay the construction of wind farms that could replace five nuclear reactors by several years and the country needs these wind farms if it is to achieve its green power goals all the more because other renewable energy sources are lagging even further behind economists and i kitty says economic and cultural reasons also play a role yeah says nk well south it nuclear represents three fourths of france's energy production that needs to decline to make room for new boats but shutting down reactors is very expensive and controversial including among the french public . they're committed to nuclear energy which is a fixed part of their world view down. on the n.l.c.

still the government is committed to winning the country away from nuclear power and clear i don't see that it's true that france is focused on nuclear energy for too long but we will change that and reduce the need to share to fifty percent we won't be able to meet our initial deadline of twenty twenty five that would have required us to shut down after twenty seven reactors by this fall. we've had to abandon that goal and how much it with a new and more realistic target will really. deter us on this new plan have yet to be released but. still believes that better times lie ahead yeah. we're going questioning need to end it she's no longer to the french are slowly but surely recognizing that montreal power is up to three times or more expensive and the genie thought i think you might eventually produce all our energy from renewables you know your new job. and up to mystic goal but that day is still

a long way off right now and you will still cover only seventeen percent of france's electricity needs. here up to date thanks is that a fair company and see very soon. to. be.

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