election next year. a star is born china's answer to u.s. tax stocks index nasdaq is off to a stellar start with surging stock prices creating several you billionaires but analysts warn that the star market may yet come barreling down to earth. also coming up norway says it wants its sovereign wealth fund to become green but environmentalists say that's just lip service either way the funds investments have become a heated topic of debate. and do robots and alcohol mix we take you to an unusual bar in prague to find out. this is the business i'm just on in berlin thanks for joining us it's the latest step in china's ongoing bid for

tech superpower status the newly created tech exchange called star market had a debut of astronomical games with some share prices shooting up by 520 percent here's a look at that 1st day. trading at china's new star market tech exchange was launched with a gong sounded by the country's securities commission chief and shanghai as communist party secretary the chinese government has been pushing for a tech exchange as it battles with the us for technological supremacy modeled on new york's nasdaq star market will give small chinese investors a chance to buy into tech industries that have so far listed their stocks on wall street beijing hopes to catapult the country into a leading technological position in the coming years. profits the stock market looks at technology and a company's ability to innovate for. the 1st $25.00 companies to list come from the biology medicine semiconductor sustainable energy and related sectors put

a large proportion of their revenue into research and development every company listed on the stock market posted solid gains during trading with demand far outstripping available shares. joining us now from new york home of the nasdaq is our financial correspondent scored to hi and now how is news of china's own version of that is that being received where you are. well i mean the u.s. american markets are not really shivering at this point what china needs is the capital of possible even foreign capital but overall the u.s. capital market is far more advanced than the chinese is and what could possibly go wrong in this new star market if you want to call the name is less restrictive has less regulations at its user would usually the case in china for example chinese investors are also allowed to sell short meaning placing bets on falling stock

prices that is usually not possible to so besides all this hype that we've seen here on monday and time will tell if this project really will be as successful and discoursing to be bulletproof so traders here or investors. on wall street in general are still a bit cautious what. it was in this new marketplace so investors in wait and see mode now there's another update on this other u.s. china battleground for tech dominance while way back in the headlines again what are you hearing. there well i mean there are 2 big stories and one is that us american. tech companies are executives specially from the semiconductor industry they try to figure out there was the u.s. government what does going on was the ban against them you are why you are why i

actually itself said that they purchased tech equipment from u.s. corporations in the amount of 11000000000 dollars last year but then also we got the wall street not the walter john of the washington post rather claiming that they have proof that actually you were why you help north korea to irregularly or to build a wireless network over there so that actually at some pressure to the overall tensions between you all by and the u.s. government. quarter there on wall street for us thank you very much now staying with the wall way of the u.k.'s digital minister jeremy wright says his country needs more time to decide whether the chinese text supplier should be allowed to participate in britain's 5 g. mobile network buildout the country was expected to make a decision on monday but that has now been postponed until the impact of the us measures against huawei become more clear the us insists huawei is

a security risk it has banned u.s. companies from buying from well way and is pressuring allied nations take a similar stance. norway's sovereign wealth fund made headlines when it decided to pull investments out of oil and gas and fossil fuels and make deals since we're talking about the largest sovereign wealth fund in the world but environmentalists are saying there's still a long way to go towards making that fund a green one. 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 that 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 some of those called produce our. coal producers say

they're minors or power producers based on coal. for those. close to 70 coal producers or coal called minutes. from the fall that was in 2014 environmental activists at 1st welcomed the divestment by such a major 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. the indian 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 that 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 through 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 and that's really this one is not instrument of the environment and more mental policy it's not instrumental or foreign policy it's a financial instrument to take care of the russian people savings 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 now to some of the other business stories making news more cutbacks in europe's financial services sector italy's uni credit bank is reportedly preparing to announce job cuts of up 210000 positions worldwide the move is apparently part of a new strategy that the bank is expected to present at the end of the year uni credit has not commented on the report. seaman's she's a joke asr has signed an agreement with the nigerian government to help the tripled the country's reliable power supply by 2023 no financial details were disclosed at the talks held in the capital of. nigeria's ailing power infrastructure is often blamed for hampering growth in africa biggest economy. british airways pilots have voted overwhelmingly in favor of strike action in

a dispute over pay the move could disrupt the peak holiday season for the airline pilots association said it had not set any specific dates for industrial action as it holds a further talks with management. although cars has announced a recall of about half a 1000000 vehicles worldwide because of a faulty engine component the affected models have to leader 4 cylinder diesel engines manufactured in the past 5 years although said the engine inlet manifold is made of plastic and could melt due to temperature changes. are you scared about a robot taking your job the rise of artificial intelligence and machine learning has led some humans to fear their being made redundant on the outside though less work means more time for socializing one bar in the czech capital prague they've taken human machine mixing to

a whole new level. they're known for their efficiency if you know their natural charm these robotic bartenders are the latest stop members to be recruited by a night club in the czech capital prague. their skill session clues cussing limes during sugar crushing ice and mixing it all up into a cocktail. patrons can order the drink of their choice from a touchscreen menu so far there are 16 on offer but the plan is to add dozens more to the menu. that kind of mechanically mix cocktail compared to one shaken with human flair i love a bit of never seen anything like a lawyer mom on. the team even though those are things the resume is it. takes really good. while the mechanical bartenders mix the drinks downstairs

up stairs a robot d.j. pump set to choose leaving humans partying their way to redundancy. and it's cheers from me and the entire d w d w business team here and berlin for more check out our website dot com slash business or follow us on facebook and on twitter thank you so much for watching.

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