president donald trump has threatened a government shutdown and heated exchange with democratic party leaders will funding for the border war with mexico trampolines democratic support to pass any spending legislation but the democrats are offering far less than the five billion dollars he's demanding. coming up next we have business is that good looking at the impact of the no confidence vote on markets stay with us. how do you want to live in a radical way discover the house code on house world church january thirteenth on t.w. . time for an upgrade. how

about furniture that grows all by. our house with no roof. or design highlights you can make yourself. in sticks and tricks that will turn your home to something special. upgrade yourself with d w's interior design channel on you tube. crisis what crisis spreads as prime minister of tourism a remains defiant as she faces a leadership challenge from our own m.p.'s and the problem continues to ride the braggs it rollercoaster. and our independent central banks going out of fashion from india to britain from turkey to the us to resolve banks on the pressure from governments asking them to print money or low interest rates.

this camera here we are welcome to d.w. business the pound has been on a roller coaster ride for the last hour or so after prime minister tourism may appear on television and defiantly said she would fight tooth and nail the confidence vote scheduled for later tonight the exchange rate is reacting to every new movement in britain's turbulent exit from the e.u. and things don't look like they're about to come down any time soon the pound took a sharp turn against the euro this early this morning the moment rumors began to circulate that tourism may would face a vote of no confidence this evening and it's been steadily climbing most investors expect that she is going to survive the leadership challenge so let's go to london and talk to michael hewson the chief market analyst cm's

a lot of mark of various may is facing a huge challenge probably the biggest challenge of her career and the pound is up by investors really betting on her to survive. i think that's really the baseline thing when the announcement of initially came out there was rumors about it last night and the pound did make a new low of around about one twenty four i see five cents and teresa mayes come out fighting defiant saying that she's going to fight this fight and i think markets have taken comfort from that and i expect to come out of this this confidence vote with the way michael we spoke earlier you said to me that this challenge this leadership challenge is actually good why's that. it's good because this is something that's been hanging over the prime minister for the past six to nine months since since the summer of checkers where she underwent

a whole host of cabinet resignations on the back of her approach to go riding in a deal with the european union so i think if she comes out of this comes out of this vote victorious it removes that threat of a further leadership challenge and actually helps to strengthen her position within the government within within the conservative party and i think that's really why i think the pound has taken a little bit of a move to the outside what it doesn't do however is change the parliamentary arithmetic around her deal but what it does is it removes that layer of uncertainty about her future in the short to medium term should she not survive this unexpectedly does that mean that we automatically good for hard core briggs's successor and that we're looking at a no deal breakers it briefly if you can. i think that's what the people in the european research group of the conservative party would like their biggest problem is getting the rest of the party to coalesce around

a single candidate i think any possible candidate will be split that will find it very very difficult to gain the votes that will gain acceptance across the why the conservative party so if the reason why loses the uncertainty is likely to go up a notch michael used in there in london for as she said c.m.c. markets thank you very much. thank you. to india which has now a new central bank chief shakti comes up dust has been appointed to the top job there was a bank of india after the abrupt departure of patel on monday patel cited personal reasons but his resignation comes after serious disagreements with the government over monetary policy it seems to be a part of a trend that has some economists worried as an increasing number of governments around the world interfere with their central bonds which are supposed to be independent the u.s. federal reserve the bank of england the european central bank the world over

central banks are some of the most powerful institutions there are snow allowing them to adjust interest rates inflation print money i'm sure up the economy they usually designed to be independent from political interference but is that changing . applause handshakes and backslaps aside president hasn't proved to be the biggest fan of fed your own powell openly criticizing the u.s. federal reserve's decision to raise rates on several occasions i think it is going great. the only way that the fed is out of control i think what they're doing is wrong and they're making a mistake but donald trump isn't the only one questioning monetary decisions talk ish president's red chip type and one is at the forefront of attacks against his country's central bank he remains be immensely against raising borrowing costs which is believed to be the reason the bank hasn't increased the. and in india the

central bank governor unexpectedly resigned on monday patel had been embroiled in a series of clashes with prime minister moody's administration putting the reserve bank of india under intense pressure to ease lending conditions experts would have real economic consequences still for now it seems as a global tussle over who gets the keys to their country's monetary policy. so independent central banks under pressure right now is that a bad thing questions i'd like to ask constant jessica he's the chief economist that. frankly the cost why is the independence of central banks under threat right now should politicians exercise more restraint i think they should exercise more restraint or why are they on the pressure when you look back over the last ten years especially view of the crisis central banks where that were key they were the main crisis fighter's by inserting extremely loose monetary policies and right now

all central banks try to normalize monetary policies which also includes higher interest rates and these then increases borrowing costs for governments for companies and fiscal policy or governments of politicians to look like this law is a sham because it also means it puts more pressure on them they will have to do more structural reforms they will have to do their homework and in many countries the cases that the governments have not done their homework well on the other hand is that really good seeing the central banks do not politicians that you and i have elected. i think it is sort of central banks can answer thing when you look at the european central bank for example mr druggy appears in european parliament to to show that it is easy accountability but on the other hand especially in germany we know what what happens if there is too much political pressure on the central bank we had the hyperinflation story and we've seen this in other countries as well so when there is too many too much political pressure on central banks it leads to

monetary financing it leads to hyperinflation and then it always ends up with a crisis so the independence of central banks is i think the main good what the biggest achievement we have seen in central bank history since world war two well if we look at europe right now interest rates in the eurozone zero something the e.c.b. has filed awfulness i mean mission of another crisis it's the economy here so have central bank has really done a good job i think they've done of the funny thing about the e.c.b. is that specially in germany the pressure or the criticism from the german politicians has very very often been that the e.c.b. should start normalizing much more so there maybe this is the only country where there has been criticism on the central bank to to run to lose muntari policies so right now we will see as the e.c.b. will try to normalize very gradually it's voluntary policy which which is not good news for all of the european governments because it will increase pouring cost it

also means that the other european governments will have to implement structural reforms and maybe we will have to talk about loser fiscal policies something we currently do see in france and italy. cost. chief economist that i and you dave are joining us from frankfurt thank you very much. of course and canada has sponsored bails of the chief financial officer of chinese telecoms john wall way among one's . companies found and now waits a hearing for extradition to the us mom was arrested earlier this month at the request of u.s. authorities over allegations she was involved in violating sanctions on iran. who always chief financial officer was granted bail of ten million dollars after three days of hearings in vancouver among one q will have to turn over passports wear an ankle bracelet and she will be confided night to her home in vancouver a mom is often viewed as a national heroine in china so her release was

a relief to many in beijing and taste i feel happy it's a victory for the national enterprise although it's only bail i still hope all the sanctions on huawei can be cancelled it is important that we have fair international competition sanctions only on china is not fairness. still the prospect of money being used as a bargaining chip in trade negotiations between china and the us increased as us president trump said he would intervene if that was in america's interest hours before the bail hearing a former canadian diplomat was arrested in beijing presumably in retaliation for months arrest canada's government is still collecting details. here of the situation of a canadian detained in china we have been in direct contact with the chinese chinese diplomats and representatives we are engaged in the file which we take very seriously and we are of course providing consular assistance to the family. markets

in asia closed higher after money was released as investors ease their fears about the trade battle among the world's two top economies in the background. before i let you go have a look at this a massive chocolate spill that left a sweet sweet mess on a german street last not the chocolate flow hardened on the city streets and it took twenty five firefighters with hot wall to show holes and torches to remove the ten square meters of confectionery mess a small technical defect involving a storage tank have caused the spill. me that's it from me more news all the odds thanks very much for watching it up new business five zero.

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