go to the. is an astronaut he took part in the greatest adventure in history. in the arm strong was his destiny starts july 20th on t.w. . propping up prices as the global economy slows and a higher u.s. oil output is weighing on markets the opec cartel and other nations decide to continue restricting their production also coming up critics call it cruel some sushi lover scandal waits for the 1st commercial whaling ships in decades set sail from japan and paris cleans up its act by banning diesel cars from arriving on its famous full of arms. and. welcome to the program the

world's big oil producing nations continue their fight to prop up the price for crude on monday the organization of the petroleum exporting countries and $10.00 other nations agreed to extend supply cuts until march 2020 that's according to several sources weaker global demand as a result of the us china trade spat have fueled fears that they recently rebound the price would come under pressure again. if you're looking for an insight into the state of the global economy. and the status of geo political relationships the oil industry is a good barometer. because prices are still in danger of falling opec heavyweights saudi arabia and nonmember russia have agreed to extend current production limits for another 9 months. to put. everyone's support of the proposition to extend for 9 months the limits agreed to in december.

opec 14 member countries and its allies like russia account for about half of the world's crude outputs benchmark brant crude has climbed more than 25 percent this year after the white house tighten sanctions on opec members iran and venezuela. but prices could see renewed pressure as a slowing global economy squeezes demand and u.s. oil floods the market. our commitment to balance the market our commitment is to bring down inventories our commitment is also to call our colleagues to do the same the extension of output cuts are likely to anger us president trump they could lead to higher prices i guess stations something he sees as a threat to his reelection campaign our country is was sending tensions between the u.s. and iran could also mean that price volatility remains

a challenge for oil producing nations. all right for more on the story let's cross over to wall street and our correspondent yes opec countries and others are said to extend their production cuts the dead show on the oil market. you know we certainly saw another uptick in the price of oil after best texas intermediate so the oil that we trade here in new york already shot up by almost 10 percent in june so now it was the beginning of july we saw another increase and. trades almost at $60.00 a barrel what also is a factor of why we saw a recent increases in the price of oil is the dollar you do trade oil in the u.s. dollar and whenever the dollar drops that often actually increases demand for oil from outside the u.s. and that actually is an extra boost for the price of the dollar traded

a bit lower in the past couple of weeks also has been effect europe and yes monday it was the 1st day of trading of the 2nd half of the year and stocks got off to a positive start. you know well i mean this so-called truce between china and the united states when it comes to trade was good enough to make the s. and p. 500 through the new all time record high of the jones industrial averages just shy of a few points of all sort of reaching a new record the month of july by the way the u.s. started its 11th year of the economic expansion so this is the longest expansion phase in the history of the united states other than that this week there was for the 4th of july holiday i guess it will be a rather light trading and everybody is waiting what happens in the next 2 weeks when the next earnings season kicks off yes go to new york thank you.

the g. 20 summit in osaka is over and japan is going back to normal and that new normal is not pretty at least if you ask around in the japanese economy a key survey of businesses shows the mood of japan's biggest manufacturers is at an almost 3 year low it's another sign of the strain put on the world economy by slowing demand and the u.s. china trade dispute. every 3 months japan the central bank carries out its 10 can survey of business sentiment the latest shows the country's manufacturers are in need of a lift each survey produces an index figure calculated by subtracting the percentage of businesses who say conditions are unfavorable for the percentage saying their favorable back in march large scale manufacturing had an index of plus 12 this time it slipped to plus 7 past lower than economists had predicted and the lowest since

september 26th seem. the survey covers a period just before the weekend's codell meeting between presidents trump and she the resulting announcement that u.s. china trade talks will restart should give manufacturers of boost however they'll still have to contend with slowing global demand. a positive from this quarter's time can result is that service sector sentiment is improving companies are planning to continue their spending plans suggesting solid domestic demand may least be taking some of the weight off the impacts of weaker exports. it's like a scene out of moby dick whaling ship setting sail on japan's 1st commercial hunt in years conservationists call it cruel and outdated some japanese can't wait to sink their teeth into it. it was all hands on deck before setting sail on a hunt that's been 3 decades coming these are the men that will bring fresh local

whales back to japan. are ready and sort of the crew. to bigger and fatter whales means better meet your dog will transport it as fresh as possible so that old people can taste it and remember the old days of. communities like stand ready to cash in if japan defies international outcry and pushes ahead with the practice. to send off commercial whaling ships for the 1st time in 31 years is very emotional for those of us who've been working for the resumption of a high i'm happy from the bottom of my heart. in recent years japan has got its fill of will meet through scientific cons but low cost say it never produced enough many traditionalists in japan see whaling is more of culture than conservation though not everyone agrees. or not the i've never eaten whale before i don't know

if it tastes good. so i'm wondering if i should buy them or not. to the. left them a bit i don't really need to eat whale. here are the major whaling town this time and prime minister shinzo own constituency there were celebrations the crew set off in a bid to help revive japan's controversial love affair with will meet. and now to some of the other global business stories making the news britain's economy has lost more momentum in the 2nd quarter and the latest manufacturing purchasing managers' index showed u.k. factories are being hit hard by the slowdown in the world economy plus the effects of drugs that june was the worst month for manufacturers more than 6 years and consumers increase their borrowing at the slowest rate since $24.00 to unemployment of the european union has hit the lowest levels since monthly figures started being compiled 19 years ago in may the e.u.

is jobless rate stood at 6.3 percent however the situation continues to differ greatly between the $28.00 member states zimbabwe dries to battle its currency crisis by printing $400000000.00 new zimbabwe dollars it's the latest step to shore up the local currency after the government and horror last week suddenly prohibited foreign currencies officials say zimbabweans can still withdraw u.s. dollars from their banks but that businesses will face restrictions and a new law from now on requires new electric cars to be fitted with a noise making device the move follows concerns that no emissions vehicles are too quiet and may put pedestrians and danger system kicks in when the vehicle is reversing or traveling at speeds of below 19 kilometers an hour making a conventional engine like more. and staying on the road last year greenpeace label paris western europe's worst city for the pollution caused by

diesel cars these. engines had been hugely popular in europe by the authorities are now closer to driving them out of the french capital altogether these are cars aged 13 years or older are now banned from the city center. the bicycle borne municipal police of paris have wasted no time enacting the new laws now even more motorists a barge from central streaks anyone who tries to bring in a diesel vehicle made in 2005 already faces a fine of at least 68 euros even if the rules slipped their minds. i already knew 2 weeks ago that we shouldn't drive from now on but i completely forgot and i think my company forgot to. sit in pretty deep it's a regressive policy and not one that takes is for it if you want to be extreme than paris for non electric cars that sort of thing. monday's changes bring all cause scoring a 4 out of 5 in france's emissions rating system into the banned category petrol

cars aged over 21 years were already bad paris aims to phase out diesels entirely by 2024 when the city on the center hosts the olympic games. and that's it for me and the business team here in berlin for more business news and analysis check out the w dot com slash business or simply follow us on twitter or facebook. thanks for watching see you back here tomorrow and here's a quick look at how global markets are trading at this hour.

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