can a v.w. drive off into the sunset and leave diesel gate behind it shore trying investing forty four billion euros in electric mobility the world's largest car maker is pushing for an unprecedented cultural revolution in its eighty one year history. and is the world really on the brink of a new cold war in trade without the stark warning from french finance minister for nearly met. this is your business update on how the home free glad you could join me read out what he was trying to put the diesel bit scandal behind it once and for all by now saying its intentions to become the number one call make in the world when it comes to electric my ability and it's putting its money where its mouth is investing forty four billion euros into the project over the next five years but will that be enough. after hours of discussion

to supervisory board give the green light for the future plans and billions of euros in investment. vokes wagon c.e.o. have a diesel announce the ambitious plans it was about the often see fifty foot we're sending new signals we're focusing v.w. ungreen mobility we're increasing investments in this area and we're considering participating in battery production and introducing many new electric models. according to insiders negotiations are already underway for a partnership with the south korean battery cell manufacturers. v.w. like all german car makers has had to buy batteries in asia so far and a lot is about to change it folks wagons existing works three locations in germany will be converted into electric car production sites and v.w. is making a substantial four billion euro investment in china to where's the money coming

from dug deep into its own pockets to finance the plan but it could cost some employees their jobs electric cars are far easier to build than combustion engine models but the company doesn't have many other options. plans seem to be made of equal parts optimism and drive the timing is right when other countries like china want to phase out combustion engines within the next few years and they'll be playing catch up with other manufacturers like tesla which are well ahead when it comes to the mobility. the wode is on the brink of a new cold war when it comes to trade that's the stark warning from french finance minister pournelle amat he says countries like case being caught in the crossfire of a battle between two economic giants mayor's comments came at a conference on reforming the world trade organization the very institution that u.s. tariffs seek to circumvent hundreds of billions of dollars in goods are now caught

up in levies and countermeasures between the u.s. and china the u.s. started the fight hoping to lower their trade balance. but the measures have since ensnared global supply lines injecting uncertainty into global commerce and cutting into company balance sheets said. this is open war and trade will be an economic suicide for the whole world will move on. as this will do it but it is it will in the destruction of values and jobs and i refuse to let that happen give it could it be and if there are only be losers in this economic war. it is unjustified it isn't justifiable and it is quite simply stupid. stupid bringing the u.s. back to the table means reforming the w t o participants and that means that china has economy has grown significantly since the admission needs to give a little. china has worn a lot from the w.h.o.

system and we call upon china to show leadership and to engage with us to reform and to update the system another appeal for compromise in a growing conflict. of staying with trade and us president donald trump said on friday that china has sent a list of measures it was willing to take to resolve trade tensions with the u.s. he stated further that his ministration may not have to impose more tariffs but that he was still holding out for a few more concessions from the chinese adding that he expected them to give it the u.s. has already imposed sanctions on chinese goods worth two hundred fifty billion dollars the suggested the additional tariffs worth two hundred sixty seven billion dollars could be avoided if in this ng demands were met. so let's bring in our financial correspondent in new york now yen school against trump seeming to claim that china wants to make up can we trust that. well there has been some relief here on

wall street when u.s. president donald trump claimed that he does not want to put china in a bad position even right after wards why tell us official said that it's far too early to tell if a deal is really on the horizon one thing that is also on stake is their tariffs that are already in plays on imports from china and the amount of two hundred billion dollars will be increased from ten to twenty five percent by beginning of next two years so there is still some hope but i guess we really have to wait and see till the next g twenty meeting by the end of the months in cyrus when donald trump is going to me just see a ping besides the relieve that we saw here on friday is still the fear of fire tariffs higher interest rates and keep markets nervous and for the week the dow

jones industrial average lost goods to a percent in value the ends quarter thanks a lot. about carrying capital safiya seems for vide a friendly landscape and it's becoming a hot spot for startups and a growing number of the founders i went in. this basement in the bulgarian capital sofia is where it all began angela even over works in a photography in printing store her friend illustrator gonna stand cheever gets her work printed here. they decided to write a children's book together. but they got stuck in the middle of it. and you want to make hope book. combustible you know clean free and we started looking into the actual process how to print it we couldn't find lamination that is combustible and toxic free or anything like that anywhere in bulgaria we started looking for companies outside the bulgarian europe couldn't

find anything there as well. so they teamed up with a friend to start their company lam on in a print shop the first prototypes of their biodegradable laminating films are being made it's a one hundred percent composed of all biopolymers. sophia's becoming a breeding ground for startups a number of e.u. programs provide funding for initial investments. the fledgling companies often settle in co-working spaces like beat a house that rent out office or studio space to fashion companies software developers and other startups sofia's been called europe's silicon valley there's plenty of potential says beta houses chief operating officer we have you know very good software engineering talent in the country so you've seen so far so many companies sell foreign companies open their offices on salaries here and. and you know. you know the tax policy of the of the government there you know look you know

very competitive more than twenty percent of start of founders in bulgaria are female like these two women next year they hope to launch their composed of all print products on the european market. and clearing the way for more women to become entrepreneurs is also a topic at the un's women's entrepreneurship summit is just getting underway in new york and our correspondent maya is that my study found that from all venture capital invested in startups in the u.s. last year female found those received a miniscule two percent it's why they don't really give a. it's interesting to see that and also it's not just that it's that venture capitalists when meeting with entrepreneurs tend to ask different questions than i would ask a male entrepreneur instead of asking. how are you planning to attract customers they'll ask

a female entrepreneur how many customers you already have instead of asking what's your business model though say how much money have you already raised there's just this stereotype and these barriers that a lot of female entrepreneurs have to overcome to even get their foot in the door with a lot of ensure capitalist which is something that is a big focus here at women's entrepreneurship is something that a lot of people in this room are working to break down so this is the day that is the summit where you are right now i mean what is this meeting actually doing to help more women found their own company. who is not just the summit where i am there actually parallel concurrent summits happening all over the world even in germany and while there have been a lot of panels speeches an award ceremony just now there's also been an auction going on throughout the conference here that i've just heard has raised so far one hundred eighty thousand dollars to finance micro loans between one thousand and three thousand female entrepreneurs around the world so there is an actual fund

raising effort happening here as well beyond simply just a great networking opportunity for everyone in this room and the ages range from teenagers high schoolers all the way up through of venture capitalists and elders of state shall we say who have had a lot of experience in the field already any heavyweights attending the summit or. so we've seen two big names one of them is princess nasa louise of norway who was here to receive a reward for her work with the foundation for disabled children another one was the fashion designer and as we but we really don't see any hillary clinton's or marisa . there is here right now it's still a fairly young effort and this is only the fifth year this is been going on and really it's a it's a it's just a networking opportunity right now for people who are maybe just starting out don't have the connections yet to to meet with people sort of at a similar level swap story swap ideas and build themselves up from the ground fifty

but hopefully gathering steam all correspondence by a straight a a new york for us to talk to thanks. that is it for me and the team haim ballin thanks for watching and make sure you have a great we can't stop by. earth

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