ration to all of us if you're watching the ws coming up ahead global stock markets rally at the release of highway c.f.o. making bon jovi she was facing charges of violating a u.s. sanctions against iran. that story coming up for you shortly of watching do you debbie news if you can do stay with us. sort or. say this a. hundred german street on t w.

e bay news on this issue she admits to learn some new sounds as a so-called shake up the confidence boost side by. playing. people who put big dreams on the big story and. move the magazine on the w.c. . claimed. another twist in the briggs's saga with a leadership challenge looming for prime minister theresa may the business that investors are watching closely will tell you how they're reacting. also markets breathe a sigh of relief after huawei executive one one joe is released on bail but how long will their optimism last. i'm stephen beers in berlin thanks for joining

us. the pound has been a roller coaster ride after prime minister to resubmit a appeared on television and finally 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 calm down anytime soon the pound taking a sharp excuse me the pound took a sharp turn against the euro early this morning following the announcement of the no confidence vote this evening it's since leveled off a bit as everyone braces for the results investors seem to expect that may's going to survive a leadership challenge. and for a bit more on this we're joined by conrad buson in frankfurt you can hopefully shed some light on this current why is the pound gaining at such a perilous moment for the british government. believe it or not steve a majority of the people in the financial world believe that the result may will

eventually make it that her you know strategy of permanently kicking the can down the road will eventually play out and that she will convince a majority in the house of commons in britain that her brakes that is the. deal is the only outearn the. economies of a bank for example today have come out with their latest estimate for what they see how leadership challenge for the reason may will play out they see the risk of losing such a challenge increase but only from ten to thirty percent which means that they still see a seventy per percent chance that this will not happen of course what traders here also telling me is that we should take all those concentrations with a grain of salt also for financial people who you know have a tendency to putting everything in numbers and describe very clear scenarios it's

very very difficult if not impossible to predict what really will happen so i'm still betting here on a remain to theresa may remaining in leadership will stay with us for a moment to follow another story here. a canadian court has granted bail to the chief financial officer of chinese telecom giant huawei among one joe the daughter of the company's founder now waits a hearing for extradition to the u.s. was arrested earlier this month at the request of u.s. authorities over allegations that 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 once you will have to turn over passports and 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. 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. and sticking with china and trade dispute media reports that beijing will cut import duties on american made cars have buoyed investor sentiment in asia china reportedly reportedly has plans to reduce those tariffs from forty to fifteen percent and china had previously lowered its import tariffs on american cars from twenty five to fifteen percent in july but it then raised them to forty percent only days later in response to two notes from the u.s. the measure forced chinese car dealers car dealers to raise prices u.s. president donald trump said that he would not raise levies on chinese imports until a deal has been made. and now let's go back to conrad who is in frankfurt conrad traders obviously happy with this latest news relating to this u.s. china deal or china trade dispute i should say but how long is this optimism really

going to last. very good question steve the recent weeks have shown that the spin that the trade spat between the u.s. and china has can change very very quickly as it has to be said that the use flow at the flow of room as yesterday in recent days coming out of washington and beijing seems very curious very erratic often you know the sources that we have are unconfirmed people in the chinese government or on the other hand tweets from president donald trump and some of the things that trump has tweeted about may sound positive constructive but they're also questionable for example trump says that he is ready to intervene in the case of money if it helps him to make a deal now that sounds very hands on but do we really want an american president to simply intervene like that in the us. just because it helps him to strike

a deal with the chinese that's probably not the you know set on. common rules that we or businesses want to operate and it might encourage pockets in the short term but it really makes life very difficult for people who want. a long term planning. so optimism for now and a lot more questions on the horizon conrad who isn't here for us in frankfurt thank you conrad. now to europe where italian prime minister joseph a contact says he's working hard to reach a compromise with brussels over his country's twenty nine thousand budget the european commission has said the plan's proposed deficit spending two point four percent is too high and has threatened disciplinary measures italy says it can't change too much in the program without affecting its domestic priorities now qantas scheduled to meet tonight with the e.u. commission president john claude juncker and italians are waiting to see what happens. will italy's prime minister bring an early christmas present back from

brussels while shoppers are spending freely on holiday presents in rome the amount of money the government can spend is still up in the air the coalition partners remain un willing to bring the budget deficit for next year to levels demanded by regulators in brussels many want to see their government come to a deal. it's all very messy. and i think that something may be finally moving and maybe little by little while in a strange way we will finally become europeans we have tried to form your for so long even if often we have not been very happy others have an understanding for their government's current refusal to limit the deficit to below two point one percent of g.d.p. . i hope the budget law will be approved.

and that the e.u. understands the problems that we have. i hope that sell being. prime minister country men could do something good for italy. good bad they were going to die. but if the budget plan is not approved and italy is sanctioned by processes that could trigger an early election in march investors believe that just might lead to a more stable government and italy's barn year old fellow early in the day as a result. let's go to south asia now and india has a new central bank chief shakti confidant has been appointed to the top job at the reserve bank of india that after the abrupt departure of patel on monday patel cited personal reasons but his resignation follows serious disagreements with the government over monetary policy now that's part of a trend that has economists worried as an increasing number of governments the world over interfere with their central banks which are supposed to be independent

of the us federal reserve the bank of england the european central bank the world of central banks are some of the most powerful institutions there all 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 john paston proved to be the biggest fan of fed chair at your own powell openly criticizing the u.s. federal reserve's decision to raise rates on several occasions i think it is. really . 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 presidents rich ship type and one is at the forefront of attacks against his country 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 there unexpectedly resigned on monday patel had been embroiled in a series of clashes with prime minister modi's administration putting the reserve bank of india under intense pressure to ease lending conditions experts warn of real economic consequences still for now it seems as a global tussle over who gets the keys to their country's monetary policy. and that's it for us at the business you can always learn more about these stories at dot com slash business follow us on facebook and twitter as well i'm seeing there's a follow us on the news of the hour thanks for joining us.

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