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rearing to me. not everyone who loves books has to go in the same. t.w. literature list one hundred you must treat. another twist in the brags that saga with the leadership challenge looming for prime minister theresa may is those investors are watching closely we'll tell you how they're reacting. also markets breathe a sigh of relief after huawei executive mark one joe is released on bail but how long will their optimism last. i'm stephen tears in berlin thanks for joining us. the british pound is rallying after prime minister it's recent days

that she would fight tooth and nail a confidence vote scheduled for later tonight and the currency is coming out of a twenty month low against the euro on monday after may put a vote on a draft breaks that agreement. the bell jumped on his response today and has continued to rise making up for some of those losses traders apparently believing they will win and that the u.k. could still avert a no deal briggs's now to help us understand us a bit better let's turn to our frankfurt correspondent conrad buson conrad help us out with. the british government here sort of on denies it seems like so why is the pound gaining believe it or not stephen a majority of people in the financial world believe that to resolve may will make it that she will survive this leadership challenge and that eventually she will be able to pass some sort of brakes a deal through the house of commons no one or at least very few people on the

finance or trading floors ones to believe that the parliament in london weedy is ready to push britain over a cliff that's what. breaks it and no deal breaks it would really be economists at deutsche bank have tried to put the valuation in numbers they say that the chances that the reason they would lose a leadership challenge have increased but only from ten to thirty percent which means that they still give her a seventy percent chance to survive this ok so putting some numbers there to the risk here obviously a bet on her staying so what happens if she doesn't stay what happens if she loses the vote. well what i can tell you stephen is that everywhere whoever has to do with business or with the united kingdom everywhere people are getting involved in preparations for a no deal breaks and those preparations have gotten a bit of

a boost because of the events of today and the last few days today the german government for example announced that it has introduced legislation which will allow british banks to continue to do business here in germany even after twenty nights those are the so-called passport rights which are to be extended until the end of twenty twenty rolls royce the large engine make an ounce that it is talking to the european safety aviation agency over shifting design approval here to germany not something. really wants to do but something it has to do if it wants to stay in business here in europe so still lots of planning there for a new deal with trolls. and they're forced into in frankfurt thank you very much. a canadian court has granted bail to the chief financial officer of the chinese telecom giant while way jodelle waits a hearing for extradition to the u.s.

one was arrested earlier this month at the request of u.s. authorities on allegations she was involved in violating sanctions on iran. while ways chief financial officer was granted bail of ten million dollars after three days of hearings in vancouver among one show will have to hand over her passport wear an ankle bracelet and should be confined at night to her home in vancouver. among is often viewed as a national hero in china so her release after over a week in detention was a relief to many in beijing. ok i feel happy about monk's release on bail it's a victory for the national enterprise although it's only pale i still hope all the sanctions on could be cancelled it's important that we have fair international competition on sanctions only on china and not fairness. here still the prospect of monk being used as a bargaining chip in trade negotiations between china and the us increased as us president trump said he would intervene in the case if it was in america's interest . hours before the bail hearing

a former canadian diplomat was arrested in beijing presumably in retaliation for among the rest canada's government is still collecting details. we are aware 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 among was released as invest if it is east about the trade battle among the world's two top economies. now over to europe where italian prime minister joseph a contest says he's trying to compromise with brussels over his country's twenty one thousand budget the european commission has said the plans proposed deficit spending two point four percent is too high and it has threatened disciplinary measures but italy says it can't change too much in its program without affecting

domestic priorities today conti is meeting with european commission president john claude younker and italians are waiting to see what comes out of it. 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. you know. it's all very messy with don i think that something may be finally moving and maybe little by little while in a strange way we will finally become europeans with it all that 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. . but what about the i hope the budget law will be approved it. e.u. understands the problems that we have. i hope that. the prime minister country men can do something good for italy. good bad they would be bad. but if the budget plan is not approved and italy is sanctioned by brussels that could trigger an early election in march investors believe that just might lead to a more stable government and italy's bond yields fell or early in the day as a result. now staying in europe a german firm has one access to the world's largest reserves of lithium the company a.c.i. systems will mind fifty thousand tons of lithium hydroxide a year from the uni soft and bolivia that's enough to fit one million cars with

electric batteries the seventy year contract will be a partnership with the live in state owned company y l b and it's scheduled to begin in two thousand and twenty one less than one percent of the sol flat will be industrialised that's still around forty square kilometers spectacular landscape is already a huge tourist attraction and a major source of income for bolivia. over to india which has a new central bank chief shakti confidant has been appointed to the top job at the reserve bank of india after the abrupt departure of hell on monday to tell side of personal reasons but it's resignation follows serious disagreements with the government over monetary policy as part of a trend that has economists worried as an increasing number of governments across the world interfere with their central banks banks that are supposed to be independent. the u.s. federal reserve the bank of england the european central bank the world ofa central

banks are some of the most powerful institutions there are 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 chump 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 great i really think 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 tuchis presidents rich ship type at it one is at the forefront of attacks against his country central bank he remains vehemently against raising borrowing costs which is believed to be the reason the bank hasn't increased them 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 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. earlier we spoke to carson carson bridge eskew the chief economist of i n g bank and we asked him why the independence of central banks is suddenly under threat or the politicians should exercise more restraint. i think he's working. on a pension when you look back over the last ten years especially during 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 policies or governments and politicians do not like this no it is a shame 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. now is carson just from i and she banks that's it for us as a business stay tuned for more news the top of the hour and of course you can get all the latest news and information around the clock on our website at www dot com and dot com slash business thanks for joining us to see conditions in berlin. to.

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to corporate and. the selling out of the country. dead donkeys fear no hyena. starts december twenty ninth on d. w. . whatever happened to martin schultz. afterwards all but my guest this week here in london in strasbourg cocoa here in berlin so i'll be in prime minister i'm not but not bitch you know i'm cosco nicky morgan talking foreign minister. was stolen.