a selloff on global markets without co-leading the plunge chinese spies lose their appetite for the i phone seeing the tech giant cut its sales forecasts also coming up the search goes on for potentially dangerous congo off the coast of the netherlands a day off to free to last two hundred seventy containers during a storm. this is your business update time and on frame but then you could join me well shares have been tumbling around the world off southall issued a sales warning in new york the dow jones dropped by nine hundred three percent after the tech giant's warning spark new concerns about a global economic slowdown it was a trend that was set by markets in europe where the dax slid more the one and a half percent and in asia where most indices were down fears of a global economic slowdown rose following up all surprise announcement that it was no ringgit sales target for the first quarter due to a decline in i phone sales in china. apple's bad news seems to

confirm what investors have feared for some time the i phone hype could be over and so far there doesn't seem to be a solid plan coming out of cupertino to re excite consumers for years the i phone has been apple superstar the device brings a solid sixty percent of apple's revenue but if those sales fall as they did over the christmas quarter it hits apple hard the company's problems have been looming for months after reaching a high last summer the share price has fallen by thirty percent since september back then analysts reported that asian i phone suppliers were cutting back production because apple needed fewer parts news that sent out an alarm signal. the company says demand has weakened particularly in china apple c.e.o. tim cook blames the trade dispute between the u.s. and china for causing some customers to avoid buying u.s. products but analysts say another reason is apple's pricing strategy while prices

are dropping on many smartphones from other companies apple has continued to raise its prices the most expensive costing more than sixteen hundred euros but fewer customers are willing to pay such costs for their device. it appears tim cook strategy of looking to charge a high price to achieve high profits despite lower i phone sales has failed the development could sign the end of a success story that began twelve years ago. and for more on this i want to bring in our financial correspondent yang's quarter now in new york yang's what does this cut tell us about right now well i mean they're in deep trouble there's no doubt about it and the stock because since the recent highs that we serve earlier in fallers down by almost i'm forty percent i mean it's really hurt them some people are specially in china are looking for

a cheaper devices so we do see signs of cooling economic growth and china and then even globally i phone owners are not up to date upgrading to the newest version as quickly if they've done in the past so really quite a perfect storm right now and hitting apple i mean has three said the market also seeing heavy pressure right now is this volatility or is it the start of something worse. well if it's the start of something worse remains to be seen but there is certainly something brewing here globally there are some signs of slower economic growth we're still talking about gross not a recession but the signs are showing that the economic growth could be weakening globally and also in the united states we've got fresh data from the manufacturing industry here in the u.s. those dropped to the lowest level since november two thousand and sixteen on top of it we have a slight revenue of warning from delta airlines that stock also dropped by almost

nine percent. financial correspondent and culture wall street for us thanks a lot for that yes. now germans may be in for a rude shock they love using cash as opposed to credit cards but a second day of strikes by security van drivers has some a.t.m.'s running low time to ask perhaps why germans are so reluctant to pay with plastic. this hamburg coffee shop no longer accept cash if you're looking for your caffeine kick you'll have to either use plastic or another digital payment system. in many countries like china this is long been the norm in cash loving germany though it's pretty new . we're not aiming to completely change attitudes in germany it's simply that i reckon we're going we believe it's in aversive and future oriented so far it's going really well and

we're sticking to it. but in germany many are yet to be convinced the older generation in particular is especially attached to cash. for sure i feel safe area gives the banks less control. concerts mostly by cart that's why it's time dear elizabeth mattison runs a garment store in the center of cologne she accepts both cash and card but she says the trend is going in the direction of paying with plastic she has mixed feelings about it and understands the reservations about previous e thank. you labeled everything to be tracked where you were where you got a coffee where you had a meal what you bourse i actually don't think it's like grace. she says her children barely ever use cash that puts them in the minority in germany but that may not necessarily be the case for much longer. now the search is on in

european waters for three containers carrying potentially dangerous substances that softer the and the seas only lost its cargo during a storm on tuesday night so far only a small bag of a substance thought to be toxic has been washed up the part of our flag ship was traveling between antwerp in belgium and became a half in in germany when its cargo came some twenty containers have so far washed up on dosh island several more expected to end up on the northern german coast here on the dutch island of tash elling it's finders keepers in the netherlands unlike in some other countries you're allowed to keep items that have been washed ashore and in this case there's quite a haul to be heard. so much in all kinds of sizes and colors will keep them in the attic for now and then sell them in the summer. i found a flat screen t.v.

in one of the containers and i'm keeping it in a warm and dry area so we'll see if it's still working ok. this footage released by the dutch coast guard shows the cargo ship that had been transporting the goods a huge vessel with a capacity for some nineteen thousand containers a soon as one came loose others followed a total of two hundred seventy containers have been lost only a few have been washed up so far. others may end up on the island of poor come in northwestern germany. but the containers aren't just carrying goods like shoes and flat screen t.v.'s three of them are said to contain potentially dangerous substances the advice from the experts. if you encounter a washed up container stay away and don't touch anything wait for the professionals to come and transport the goods safely that way you'll come to no harm. but the temptation is big scores of containers are still missing with storms forecast for

the weekend they could travel far to their next destination. the stock market in brazil closes a record high yesterday off to nearly elected president not who was sworn in the main share index has lost some of those gains now but the rio is up one percent against the dollar as optimism also narrows administration of course and creating free market economists and he's keen on privatizing state enterprises but it remains to be seen just how committed he is to liberalizing economy it would also be shareable sonora has officially taken the reins in brazil appointing key members of his cabinet and it seems investors couldn't be happier from one signature to another economic reforms are on the way newly appointed economy minister paolo geddes has vowed to slash government spending cut taxes and privatized state assets

he says brazil's pensions are first in line. with. your first big expenditure is social security and pensions. it's the first big challenge we face it's our biggest challenge. and if this challenge is successful. then two or three months from now we can look forward to ten years of sustainable growth ahead of us because. stocks soared in response to the new government closing at a record high. economists victor candido says he's not surprised. the movements we're seeing on the market reflect the expectations for the new government interest in the reduction of bureaucracy in economic issues and measures that aim to bring productivity up. the new administration has been talking

a lot about these reforms and they're very important for the economic growth of the country as is the issue of privatization of public companies. but not everyone is celebrating the change of power indigenous communities are concerned protected lens could soon be handed over for agricultural and industrial development on his first day in office president paul sonora transfers the review of indigenous land claims from the national indian foundation to the ministry of agriculture. yes the twenty twenty world cup in castle will be extremely expensive for a visit to the gulf nation now has a new tax on alcohol and if you drink cigarettes some point products the so-called fin tax doubles the prices of such products in cats all muslim country where the shawn is says the move will help wean people off a victim of substances so visitors to the world cup will be hit with high prices for alcohol which is often consumed in large amounts by football fans. as it europe

today with the latest from the world of business for more to head to our web site w dot com slash business i'll be back tomorrow but fortunately he down.

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