investor eyes are on earnings yet again u.s. electric car maker tesla joins a raft of companies posting excellent third quarter figures but is that enough to move wall street. spanish taxi drivers save or victory as lawmakers that have maximum limit to the number of ride sharing licenses. and a tech summit where you'd least expect it in the smaller capital mogadishu. and can the philippines save its most popular tourist destination from tarus themselves. i'm stephen beardsley in berlin thanks for joining us wall street did well today after stocks took a hammering yesterday positive earnings reports are driving the trading including from tesla which is back in the black for the first time in two years the production ramp up for its model three saw the u.s. electric car maker post a net profit of three hundred eleven million dollars in the last quarter calling shareholders nervous production of the model three had been delayed by technical

and logistical problems while tesla has been marred by controversy involving c.e.o. ilan mox. our financial correspondent yen skordas joining us now with a view from wall street to tesla's numbers finally boost its long term outlook in the eyes of investors. well that's probably too early to tell wall street to kind of knew what was coming already two days ago when must announce that the numbers will come out actually earlier than originally expected and wall street was well aware that this can only mean one must get some pretty good news for investors one reason why we saw the biggest profit so far in tesla's history and might also have been some payments to suppliers have been the late if that really should be the case that could mean their future profit could get distracted a bit but for now at least wall street was cheering the stock was up for

a third consecutive day and just on thursday we saw the stock jumping by a good nine percent. now that was just one of several earnings reports that this sort of boosted the market today did these quarterly reports really have anything to do with the broader realities and the market reaction to them i'm sorry is the market reaction to them not a little bit overblown focusing on the short term reports. well what we definitely see is that we see huge reactions after those earnings reports that came before the downside like advanced micro devices for example the maker disappointed his numbers and the stock got hammered by fifteen percent on the other side twitter came in with better numbers the stock jumped fifteen percent if you have swings like that you can tell that the market is still jumpy and nervous but what those earnings also often show and that's what investors really want to know how do terrorists impact their numbers how does the stronger dollar impact their numbers how do

interest rates actually have an impact on that for example. tariffs doing to those earnings so there is a correlation between the earnings reports from current corporate america and what is going on in the in the real and in the political world. so a broader snapshot there there for us in new york thank you. over to europe now spanish taxi drivers have claimed a victory over app based ride sharing services like. a close vote the spanish parliament set a ratio of ride sharing vehicles to traditional taxis with more favor given to the latter ride sharing companies see a silver lining. god celebrations erupt even a tear of joy is shed texas drivers gathered outside spain's parliament as the vote was brought to the floor. spanish

lawmakers gave the kevvy is what they had waited for a resolution regulating based right hailing services in four years time only one right hailing the call will be permitted thirty taxis. growing separate today the first stone has been laid and from now on to get there we will begin to build the foundations of a taxi service that nobody will knock down in any court of law rather than that of any group who's got the new law comes close to a cease fire agreement spain has proven to be a fraught market for the sharing economy with regulators often backing traditional businesses still the disrupters keep trying their luck. what the decree says is that over the next four years nothing can be done right helling services cannot be touched and therefore we have four years over which we can work peacefully in addition to the extension provided by the ministry of transport so it's good news

because above all jobs are being protected. issuing new licenses will be left to local authorities who will ultimately be responsible for integrating internet platforms like over and air b.n. b. into spain's economy. somalia the country often thought of for conflict not investment opportunity but a group of young somalis is trying to change the country's tattered image this week in mogadishu they held what some are calling the country's first ever tech summit. somalia isn't the obvious choice for most investors but that's not the case for these entrepreneurs and for them the mogadishu tech summit is more than just about exploring business opportunities. and we hope this summit will show a different side of somalia one that is not about hunger famine and bombs we want the world to see a somalia that is recovery one that can adapt to the development of global

technology. somalians from the nation's dyess for communities some as far away as britain are also attending. become a start of an delivery company gulliver and is among the companies at the event. its founders moved from london and set up shop in mogadishu to help residents dodge the bombs and other dangers on the capital streets another entrepreneur event is norwegian somalian mohamad ardo. the established our company a year ago we make any daylight bulbs to cover the needs of somali people and use modern technology to produce them our products are designed in norway and produced in somalia. but somalia still remains a tough place with security being one of the biggest challenges the tech summit itself was held in a well guarded facility to protect participants from islamist al shabaab militants . when years of mass tourism take their toll and once pristine

beaches are almost beyond repair there's sometimes only one solution shut it down and that's exactly what the philippines government did with its most popular tourist destination now after half a year it's open again and we sent a reporter. for a little working holiday. waited six months for visitors to. boosting years of environmental mismanagement and over tourism might take more time than ready or not however the island is reopening amid efforts clearly ongoing buildings have had to be raised and declared no build zones are moved to make way for you roads on a beach workers race to complete an overhaul of the underground sewage system was overloading two hundred waste water being dumped into the ocean one key issue that led to its closure last year more than two million tourists came to this tiny island of just over ten square kilometers more than half of them for it now the

tourism authorities are warning incoming visitors to manage their expectations and you can see why as it turns out fixing an island isn't easy here. it's been hard on business owners for doris tried to keep the shop open during shutdown but major roadwork displacing electricity posts had led to frequent power outages that's set to continue and the effect on us is that we struggled we made very little money and my staff suffered i couldn't feed them so they left. for some of the closure and the island's complicated recovery is wholesale punishment for the misdeeds of a few but others see it as a sign of political will returning to broccoli after years of poor governance. corruption is the main reason why you know the.

leaders so. we are all part of this kind of mystery and painful journey of closure but i and we hope we learn our lessons from from this mistake and this is a wake up call for every filipino that is doing business in the country. the new broccoli comes with a new set of rules like strict arrival limits authorities hope fewer people will keep it sustainable to stop businesses from cutting corners to keep up with demand but some worry a lack of accountability would mean the sacrifice was for nothing. only if those who violated regulations were shut down blacklisted others would be afraid to follow suit but what actually happens is that no one has been arrested for violations no one's been punished no one knows how much was paid in penalties. it's possible barack i could be my dirty again because no one went to jail and. there's

strong support for the idea here that the national government had to go to extremes and deprived of its tourism revenue for a while in order to save it that the rescue continues as tourists return represents a new test for the island but by. thinking about starting a business remember the rule location location location just ask russian entrepreneur god. who had a special idea for his ice cream business he put the entire production line on the moscow towers observation deck now that's three hundred thirty meters above ground it was a hall getting the equipment up there he says oh well worth it just dial and i scream is now recognized as having russia's highest altitude production line and it's not a bad draw for customers either. and that's your business report you can find us online a w w w w w dot com i'm stephen beardsley in berlin thanks for joining us and we hope to see you next time.

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