venezuelans feel the bite of u.s. sanctions gasoline is scarce leading to long lines at the pump and growing tensions we'll give you the details. also on the show as the greek economy emerges from crisis is the country's real estate boom a blessing or a curse. and celebrity chef jamie oliver loses part of his business empire and hundreds of his employees stand to lose their jobs. welcome to business i'm stephen beers in berlin thanks for joining us life in venezuela has been hard in recent years and occasionally crushing from the country's hyperinflation to its lack of basic goods and declining medical care at least gasoline was always dirt cheap and generally available but now that's under threat u.s. sanctions are making fuel more scarce take a look. money doesn't count for much these days in venezuela hyperinflation is

rampant and us sanctions are making things worse. gasoline has been heavily subsidized for years in the country and now costs practically nothing to contrast with other items is stark going to be an economy. candy bar costs more than gasoline a full tank of gas that's all it costs you a. boil is the venezuelan economy and normally accounts for almost all its exports but to be refined to make it into gasoline for the domestic market it needs chemicals from the us these are no longer available because of the u.s. sanctions. this is led to shortages and long queues at the gas pumps in recent days there were reports of 24 hour queues for gasoline in america but the country's 2nd largest city but the impact of u.s. sanctions would only get worse many importers of venezuelan oil have been granted a grace period before they will be subject to the sanctions the grace period ends

this month. the united states has temporarily eased a ban on selling technology to chinese tech giant while away washington is delaying the ban by 90 days u.s. claims the world's leading maker of mobile network equipment is a security risk and has called on european allies to exclude while ways equipment from their next generation wireless 5 g. networks the company's founder has downplayed downplayed the restrictions saying huawei has supplied back ups if it loses access to u.s. components. and let's talk to our financial correspondent in new york jose luis to haro was a markets responded positively to this delay but it doesn't quite reverse the u.s. decision against weiwei does it. stephenie does not change her march but it buys time especially for you as a company is to make all the arrangements and time is also key for investors who still consider these a decision leaves the door open for some kind of negotiation as i've heard from the

paucity of short term reaction of tech companies and chip makers here all know wall street markets are waiting for any kind of signal will imply the possibility of the u.s. in china starting those talks easing of what ways that restrictions will last about 3 months and meanwhile china won't increase it starves on u.s. imports and to do fairest and the us one be able to impose new charges over chinese products until later by then usa president donald trump and chinese president xi jinping will meet in japan for the 20 so this and so far is that both countries are present there are more and more escalating tensions but not enough to completely close the door to resume negotiations currently on hold but at the same time both are walking a very fine line which could end up in some kind of resolution or in a full blown trade and tech war and briefly jose what's been the reaction from wall way to this alleged. who always play their fans saying they're accused of

bullying and european lawmakers not to follow the lead of the white house also has stated that the u.s. government underestimates its power especially when it comes to their development of 5 g. networks as in the east haro their force in new york thank you. and now to a 7 year battle over the rights to a name between a company and 8 latin american countries online retail giant amazon has provisionally won the rights of the dot amazon domain and that's a blow to the coalition of governments fighting for the title on the basis that it referred to bare geographic region the decision will be finalized following a 30 day public comments period. of back to europe greece is experiencing a ters i'm an investor boom property prices have risen by 2 percent since last year when the country's eurozone bailout program came to an end construction permits have risen by more than 10 percent while such growth is good for the economy local

communities in athens are feeling the pinch here's the rebecca rivers. from an economy in tatters rises a city in the not long ago athens lay at the heart of the country's debt crisis now tourism is fueling a real estate revival but the knock on effects aren't always desirable to the locals but neighbors change and because a lot of people because the old us virtually throw them out in order to explode their apartments being the tourists who come here for just 3 or 4 years we don't consist of a society or you know something to to mingle with with locals to shop owner has lived and worked in the city his whole life he says the stories of a vixen have become commonplace and faint he himself has so far escaped although his rent was nearly doubled at the start of the year so it's very difficult because i have also a family who have 2 kids so we needed

a reporter and. for people to stagger it it's far more difficult for other people who are not all in the neighborhood of the whole of the some reporters who has a lot of people to leave. greece had a record breaking 33000000 visitors last year a desire by homeowners to capitalize on the influx has led to an uptick in short term rentals. in athens alone air b.n. b. listings have nearly doubled in the last 2 years making it increasingly difficult for people in neighborhoods such as this one to find affordable accommodation but it's not only tourism that's driving the housing shortage gold in the visa program residence permit with the purchase of a home and joy in 20 for teen agree started offering golden visas a 250000 euro investment buys you a trumpet he has one is a 5 year renewable visa an attractive prospect for many what i want and.

we would say that the most popular candidate is out of china bad. and i have the kindness the biggest volume for i'm going to. invest i've come to. that they are not obliged to stay instead most rent out their properties from abroad adding to the high prices and housing shortage the owner of this building didn't want to speak on camera but said he'd recently sold to a chinese investor all his tenants were kicked out the long that meant i was being affected sort all this out of that because they're all nerves but fair to keep they had put up at this and put them. in spend of. leaving them. and that while that may be good for investors in the economy it's local communities for the paying the price. and let's take

a look at some of the other business stories making news sure manufacturers and retailers in the u.s. have asked president donald trump to remove footwear from a list of proposed tariffs on goods imported from china they said the move would be catastrophic for consumers and the economy as a whole last year the u.s. imported over $11000000000.00 worth of chinese made for where. u.s. justice depart. it is said to oppose a multi-billion dollar merger of germany's t. mobile usa with its rival sprint its sights competition concerns and that's according to a report by bloomberg it comes after the chairman of the communications regulator put his support behind the deal. the german chemicals group buyer has confirmed that monsanto kept watch lists on journalists politicians and interest groups in at least 7 european countries by a bought the controversial company last year and is facing thousands of legal

claims that monsanto's roundup weed killer is connected to cancer. over the u.k. where british celebrity chef jamie oliver has announced that his restaurant chain is insolvent requiring the closure of all but 3 of his 25 eateries and leaving more than 1000 people out of work oliver who is credited with changing a generation of british attitudes about food and school menus blame stiff competition and rising costs. he was the man who made british cuisine sexy. jamie oliver's informal approach to good food made him world famous and phenomenally successful it enabled him to open his own restaurant chain in the u.k. in 2008 with dozens of outlets popping up across the country. today all but 3 of those have closed as a result of what was described by administrators care p.m.g. as a very difficult current trading environment. the writing has been on the wall for

some time the celebrity chef began toes and struggling restaurants back in 2017 and last year named brags that as the reason for closing 6 of them saying rising food and staffing costs as well as a weakening pound we're posing challenges. up to 1000 jobs are now at risk trade union representative say that while restaurants are not helped by the current economic uncertainty businesses that expanded rapidly like all of us did are the ones most in danger of going on. now it's got a bit of rust the interior has seen better days and it smells like a musty old folks' wagon beetle but the bees expects the very 1st porsche sports car made will bring in at least 15 $1000000.00 at auction the type $64.00 was built by the original government owned volkswagen in 1939 and it belonged to the company founder faired ned porsche it was built for race between berlin and rome never took place through the outbreak of world war 2 it goes on auction in california in august. and that's it for

the me and for me and the business team here berlin i'm stephen beardsley as always thanks for watching.

the show. first clueless i'm. sure is grand moment to run and join during a tank on her journey. you know we're mean to return to. returns home. every room and every man knows that a child needs food isn't food cannot be for newbies who knows him that a lot of problems drop out of his food because the way he did nothing when coming from him that could have easily been us. at any one of us.

lately. oh. this is state of the news africa coming up in the next 15 minutes the votes are in and counting is underway in malawi's election the people came out in droves to choose a new president we know this is a nation hungry for change bold and why it's one of the world's poorest countries. and in congo 8 rock stars reception for moyes had to be whose backs.