you're watching news still to come the price at the pump has been going down opec ministers meeting today hope to change that. plus more on the arrest of that top executive at huawei i helena we'll have that all coming up for you in business in one minute. sleep. carefully. don't move those who needs to do to.

discover who. subscribe to the documentary too. close. to the. opec looks set to defy washington the price of filling up could soon be only up as the cartels as it wants to reverse slumping products. they see as your business update on home frame by then glad you could join me asian markets drop today following the iran. one of

china's top business executives in canada always global chief financial officer was detained in vancouver and is now facing extradition to the united states now the rest is an edge of the relates to violations of u.s. sanctions against iran main ones who is one of the vice chair of the chinese tech companies board she's the daughter of the company founder rand thing farai beijing calls the mains immediate release canadian officials say a court hearing has been set for friday chua ways one of the world's largest maker has of telecommunications equipment and for more on this story i'm joined now by correspondent and they hang in singapore andrea allegations in the arrest range of espionage to breaching sanctions on iran why is that been such a strong reaction on markets well it's been one big tumble up to another the markets today how in the obviously this mess is going to

make shares shake and tumble all the way down a lot of your shares in asia took a big hit today to close down mostly and a lot of it has to do with concerns about how this issue is going to we on the potential of promising us china treat truce which which was a very big possibility right up until yesterday and i quote ways says it has no real details about the arrest but the company seems to be in real trouble doesn't it. yes it does this whole thing puts a lot more pressure on china than it wants to have and this is a risk comes after a long arm while we are there the u.s. has less u.s. lawmakers it's he has have been conducting since twenty sixteen and this is long before trump even became president so the allegations by the u.s.

on how awfully is that of being a threat. to national security the u.s. has accused the quality of spying on behalf of china so this of all these national security threats have let more recently the yuki's british telecom to impose bans on always devices on its five g. networks which is rolling out and outside of europe also australia and new zealand most recently have joined the fray as well they have also imposed a similar ban on their five g. networks and hang in singapore thank you. opec seems to be getting close to cutting oil output to prop up plunging prices and that is despite repeated calls by the us president donald trump that they keep the taps open to keep gas line gas that prices low for u.s. consumers now at a two day meeting in vienna saudi oil minister. told reporters that the group was

looking for a sufficient cut to balance the market equally distributed between the countries with regards to trumpy added that the us were not in a position to tell the cartel what to do on friday pick members will be joined by five more oil producing states to continue the discussion on how to counter recently tumbling oil prices. ever more on this i want to bring in spencer welsh now he's the director of the oil markets division at h.s. market in london welcome spencer by how much should opec cut output to stabilize prices and prevent further declines. good afternoon that's the fifty million dollar question they are under pressure as you said from the u.s. not to cut a tool that other people think you may need to cut by maybe more than a million maybe one point four million barrels per day i think it's likely to be there will be a cut somewhere between half

a million and one million barrels per day of production spencer if they don't do that what will the consequences be well at the moment the price is just above sixty dollars per barrel two months ago it was eighty six dollars per barrel so there has been a sudden drop but in the last week it has been pretty stable so if they don't cut they then prices will probably stay around where they are they may drop a little bit more if they were to cut i would expect prices to head back up back towards seventy. the u.s. russia have all weighed in on this debate i mean it was that one of the mottos of opec economic interests before political ones has the tide turned on that now. arme not necessarily sure that was always the the motto of opec i think that they're trying to do what they what is best for for their for their members it is

a it is a heart rope they're trying to walk at the moment between saudi arabia and the united states trying to to remain on good terms but also also trying to provide support to the rest of the opec countries and saudi arabia are they really need a price of more than sixty dollars per barrel in order to balance their their into their budget their spending plans russia is in a different position you know they actually would prefer probably the price around where it is now they don't like the oil price being too high because it strengthens the ruble and then makes their other exports less less attractive spencer welsh from i.h.s. market in london thanks for your perspective thank you. tomorrow jemmy's conservative party will elect a new party leader and he or she will succeed knuckle among the candidate maps the darling of the business world in a close ally

a former finance minister. now that's has been out of front line politics for some ten years he is the german chair of the world's biggest and most powerful wealth manager of black rock and he says he's ready to return to politics and move the party back to its conservative roots will his our very own ben visitor lead with more. germans hate career politicians so he's someone who's made it in the private sector mance the millionaire he's been on the boards of banks and insurers even a toilet paper make it but it's black rock that gets everyone talking this is going to. black rock is not a locust it's a wealth manager yes the biggest in the world but wealth managers are trustees. globally the american firm manages over six trillion dollars double germany's economic output it has the biggest foreign stake in the dax which is in all the top listed companies here and that's not just

a ridiculous amount of wealth that's. the report from time to time that the fund likes to exercise its influence over germany executives blackrock denies that it also denies being a shadow bank but it does the scrutiny the world's biggest banks around and enjoys unrivaled access to regulators central banks and governments blackrock has been really adept at playing that game. of saying no we're the good guys we're not like a bank and so the bank the banks are the ones that caused the financial crisis we are actually the saviors of the little people and that's basically been their their spiel if you will and they've been really successful at selling this. but i think it's about time that we look a little more closely and what their influence actually is and how they're shaping and reshaping markets and the financial system that. blackrock and its team here in

frankfurt must hail manses frederick the great he pried open the door for them to europe's economic powerhouse and even if he does leave the company upon officially re entering politics that door is already wide open. some economists say man sees just the right man for making germany more competitive but i think he would be great for the country given the fixin's of past thirteen years a government so focused on redistributing wealth and other creating wealth is all we need to do some reforms might be popular but now it's my position i want to do it but you're talking about creating wealth for europe's largest economy not creating wealth for the world's biggest hedge fund and fund managers well you're first of all creating wealth for the customers you should keep this in mind and especially germany as a discussion are all and low costs and hedge funds and so on if they're negative crocus they should be just minnie's and every day and not before many people in dolman station fonts all the bundles the ordinary people benefit from the work so i

think the discussion here is a little bit misled. math one said he learned from his parents about giving back something to society if you could afford it well he's whirled away enough money to give up his corporate career and possibly become leader of the christian democrats but he'd have to be investing in more than that surely he'd want to give back to society by taking charge of europe's largest economy and becoming chancellor. of varying benches you learned that now today is a favorite day of the f a kids and adults alike in many countries the sixth of december is st nicholas day the figure on which santa claus is based is known here in germany as nick and austan celebrated with a frenzy of sugary gift giving throughout the country now the confectionery industry here has produced one hundred forty five million chocolate santas this year for the festivities and that's actually slightly more than last year two thirds of that will be. sold by retail retail is he at home the rest goes to x.

force the amount of sustainably produced chocolate santas well that's been expanding rapidly in recent years in twenty eleven only three percent of them west is saying to be sourced last year that share had grown to fifty five percent of course making exquisite confectionaries also hard work and to do it the sector employs a total of around fifty five thousand cars and if you had happened to be celebrating someone in the wild business wishes you all a very happy nikolaus day all that said we've got plenty more news coming off you at the top of the hour thanks and have a few company and c.c. .

to startle me. you don't want. to sell me live in concert. and our markets are charged.

flew in style essential. jump. on. board. oh. no nothing out of the gym i guess sometimes i am but most end up in winter that the german thinks be considered jemma culture looking at the stereotypes aquatics if you think the future of your country i don't blame. you yet you did seem to take his grandmother day out to eat it's cold out ok no i'm a joke join me from the german fundie w. post who. i think is everything chanting first and i think i'm muslim. so much different cultures between here and there

challenging for if this. leads. to some of the same i think it was worth it for me to come to germany. got my license to work as a swimming instructor. and now our two children nothing to do it's just random stuff just. what's your story take part cherished on info migrants dot. com. welcome to the show where today we'll be taking a closer look at the recipe behind a young me your tired snack is a preview of what's coming up. for the college spicy spec you most

biscuits are a popular i've been speciality. in the picture a museum in cologne all.