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 for costs also coming up the search goes on for potentially dangerous cargo off the coast of the netherlands a day off to a freighter last two hundred seventy containers during a storm. this is your business update i'm going on frame but then you could join me well shares have been tumbling around the world off south pole issued a sales warning in new york the dow jones dropped by eighty three percent after the tech giant's warning sparked new concerns about a global economic slowdown it was a trend that was set up by markets in europe where the dax slid more than one of the hoff the cent 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 and 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's to give look at 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. cover more on this i want to bring in our financial correspondent yens 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

research earlier in fall is down by almost i'm forty percent i mean it's we heard them some people are especially in china are looking for a cheaper devices so we do see signs of a 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 i'm hitting apple i mean it has to be said the market also seeing heavy pressure right now is this volatility or is it the start of something was. 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 growth 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 a financial correspondent and cultural mall 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 . it's good on the. we're not aiming to

completely change acid suits in germany it's simply the direction we're going we believe it's in aversive and future oriented to see it 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 but why six times a year elizabeth mattison runs a garment store in the center of cologne excepts 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 east bank might come after you been able to 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 greece. she says her children barely ever use cas 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 this easily 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 final flagship was traveling between antwerp in belgium and became a half in in germany when its cargo came loose some twenty containers have so far washed up on dock island several more expected to end up on the northern german coast. here on the dutch island of terror shelling it's finders keepers in the netherlands unlike in some other countries you are allowed to keep items that have been washed ashore and in this case there's quite a haul to be hard. so much in all kinds

of sizes and colors and 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 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 like to share paulson r.-o. 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. as. good as its first big expenditure is social security and pensions. it's the first big challenge we face so 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 the infant. 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 lands 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 and castle will be extremely expensive for a visit to the gulf nation now has a new tax on alcohol energy drinks cigarettes some point products the so-called fin tax doubles the prices of such products in cattle muslim country way that sean hayes says the move will help wean people off executive 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 from or do you have to a website w dot com slash business i'll be back tomorrow but fortunately i need them.

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