for 25. years. forests and money. the tragic reality behind the exploited. stores july 24th. in a major escalation after 3 months of increasing confrontation that has taken iran and the united states to the brink of war iran says british oil pushes. prices over the $25.00 companies listed on the brand new shanghai's stock exchange stock market more than. one company a 400 percent of. the

price of oil has risen by over one percent in the past hour the market is reacting to the worsening situation in the persian gulf brant crude prices climbed $0.88 to just over $63.00 u.s. dollars concerns that iran's seizure of a british tanker last week may lead to supply disruptions british government will discuss countermeasures on monday solution is not yet in science. corresponded to delaying the end frank oil is up would you call it that but rise dramatically. so while prices are up today as you said it's about 2 percent for the day and they also rose on friday about one percent but there is a lot of concern there's a lot of questions about why the reaction hasn't been more dramatic a lot of analysts are a bit surprised that we haven't seen

a bigger and create. this place where the seizures have been happening where this conflict with iran is happening the strait of hormuz is extremely important for the global oil market where about 20 percent of oil shipments come through and so that is could be a huge disruption if iran follows through on its threats to close off. the strait and you know that's where most of the middle eastern oil comes from so even with all of that you know this conflict has been going on for a few months now since it really began to escalate in may and even with oil prices are still down about 12 percent since it began so there's a lot of surprise that we haven't seen you know a big rally and it sort of points to there the all these other questions about the oil market right now. turned into gold not the only thing influence the real price that is. right so. this year

there was a lot of concern over demand for oil and that was sort of playing on prices and all of that is sort of overshadowing these tensions with iran so. you know china's economy has been slowing the u.s. economy has been slowing and that has really raised a lot of concern about how much demand is there for oil and so that's sort of driving the market now more than these tensions with iran so to blend in with thank you very much. trading has begun on china's new nasdaq style stock exchange and prices have more than doubled on the science and technology innovation board of the shanghai stock exchange one company and the micro-electronics jumped by more than 400 percent this so-called that has been launched in an effort to boost the credibility of the country's volatile stock markets 25 companies from i.t.n.

other sectors are listed china is the world's 2nd biggest to market behind the u.s. but it's been criticized for high levels of speculative activity and a lack of governance governance. our reporter terrific coonan is taking a closer look. china's new high tech market is quite an impressive debut how has that been influenced by what's going on in hong kong i think it has it's a hugely significant event the launch of this of this order but hong kong has always had an influence on what happens in china in terms of listings and the shanghai stock exchange in particular and certainly the uncertainty there in hong kong now with the demonstrations will will feed into a benefit i think for the for the the new listing in shanghai the capital flight we're talking about yes you know i mean they're worried that hong kong will start to experience capital flight investors don't like uncertainty so they're going to say well we've got this shiny new exchange and in shanghai now so why don't we look

at look at there that news stock market well how is it different from the regular market and well the regular mark in shanghai is kind of a it's sometimes seen as a bit of a casino it's had to experience incredible fluctuations over the years and it's also seen as party government decisions are made for reasons that the markets don't understand is influence from areas that people don't understand or don't know so this is seems to be an attempt to show that there's more clarity about this and those also structural issues like. it means that protects the founders of the of the companies with these voting rights which means that actually in the last few minutes before or in the last hour or so we've seen some of the news billionaires in the world we can welcome them to the international community of billionaires so it has this it has it has a sort of a clearer keener high tech approach which i think the chinese government really really wants to embrace how risky is it for you and me to invest. i think it's

still the only thing in china's still going to be risky it's going to be very domestically focused and so a lot of the things that we take for granted in in the west about transparency and when it comes to companies for example. knowing what way things are going you know you still still isn't clear what how much of that we're going to get so it's still going to be still going to be a risky venture but the government has promised to the there will be better governance and in the short term certainly it's going to be quite an interesting prospect i think for investors is china now is ironically a safer place for investments juge instability well i still think that's maybe 30 more stable from i magine the way investors are looking out is to go back to hong kong they see has more stability now in china than they do in hong kong because of what's happening there at the same time hong kong still has great transparency there's a couple of big chinese companies like alibaba which is supposed to be doing a 2nd this thing there. to see whether that actually takes place and if hong kong

continues to thrive i think overall hong kong is still still the place to be for asian investment for a lot of investors but this new shanghai exchange is definitely a game changer flip thank you. germany's economy minister peter says the e.u. is prepared to scrap its tariffs on cost from the u.s. to avoid extra levies on its own exports president trump has repeatedly claimed the trade relationship between when america was unfairly skewed there's currently a 2.5 percent target on european cars imported into the u.s. the e.u. slaps a 10 percent levy on small american talks the white house's considering raising charges and would be to 25 percent something germany is particularly keen to avoid . norway is

a rich country it has a trillion dollars in the bag so to say that money was made from the country's vast oil reserves and norway's sovereign wealth fund has become $1.00 of the largest single investors around the world but now they know we've since discovered a green conscience and have decided to pull many of its investments from companies who make their money with well oil and other fossil fuels that's a massive indorsement of green energy one could think about environmentalists are not happy. the aim of norway sovereign wealth fund is to ensure responsible management of the revenue from the country's oil and natural gas sales for the benefit of current and future generations so what does responsible management mean the funds investments have become a topic of heated debate the norwegian parliament has barred the fund from owning stakes in a range of arms tobacco and fossil fuel firms it has had to sell holdings in

hundreds of companies in a major divestment initiative called produce our. coal producers to their my nurse or our producers based on coal. for for those at the korea schools close to 70 coal producers or coal companies. from the fall that was in 2014 environmental activists at 1st welcomed the divestment by such a bigger player as a significant move towards responsible sustainable investing. but some are now saying that it's premature for politicians to talk up the funds green credentials given that there is still such a long way to go. no we didn't government here is speaking with 2 tongues. no we didn't prime minister was telling last on the 24th of may while speaking in front of that climate striking school kids what they what the norwegian government has done since the previous school strike was actually to divest 134 oil

companies from the state don't punch and pension funds just she's talking about this in climate terms and and one could ask who is actually the boss i'm the person in charge here environmental protection me indeed be a concern but the funds core mandate is to preserve the wealth of the norwegian people if the world turns away from fossil fuels holdings in those industries could collapse in value we are not aiming to send the message to the world that we are aiming to take good care of the region people savings the aim of this process has been to reduce the overall process wisc in the region economy. that's really this one is not instrument of the or environment more mental policy it's not instrumental or foreign policy it's a financial instrument to take care of the russian people say the sovereign wealth

fund has far fewer coal companies and its portfolio now but it's keeping stakes in controversial fossil fuel giants like exxon chevron and how the burton still involved in oil and natural gas exploration. iceland has been named the most expensive country in europe the e.u. statistics agency euro the remote populated island near the arctic circle tops the list when it comes to the prices of consumer goods electronics furniture and appliances. until it is like lectures it in the most expensive in europe as its food and clothing almost all which is imported. wages and. the highest on average across the continent. business. top stories. has risen by over one percent in the past hour

the market is reacting to the worsening situation in the persian gulf and trading has begun on the china's new nasdaq stock exchange and prices have more than doubled on the science and technology innovation board the shanghai stock exchange and that's it for me and the business team here in berlin for more business news stories. slash business thanks for watching state. is next after this quick look at global.

he takes it personally. with all the wonderful people and stories that make the game so special. for all true fans. i. pick up more than football online. never has it been the stock. is facing mass extinction. you could say that hope itself is in danger. but there is

a glimmer. biggest companies are uniting to create global change. a possibility. that not only animals will be saved but hope to. the lions share. of the conservation of hope. 13 women. 21 stages. 3480 kilometers. and one demand driver 2 to phones for women because so far it's a men only competition. jacqueline the thing is we want to show that women can accomplish extraordinary things too by doing something that may look

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