europe's economic engine is sputtering german economists mourn over recession as trade wars escalate and economic data disappoint. also on the show how bright it can get in between bricks under bacon. and melting ice bergs become so called the glacier waters for the rich and thirsty. this is the w. business i'm joined now the milan in berlin welcome experts say europe's biggest economy could already be in recession the big german engineering firms car makers and suppliers are all in crisis hit by profit downturns a lot of companies are cutting jobs or reducing hours it raises the risks of a global slowdown europe's economic motive may be running out of gas or the motive supplier continentals net profit slumped 41 percent in the 2nd quarter and the

company has announced plans to shut down an entire factory. competitors shiflet and bush also lowered their earnings expectations and said the stuff would have to be let go falling demand is hurting steel companies like some corp to the company is bracing for a loss this year. and exporters are feeling the squeeze from the u.s. side no trade war and brics it worries for economists the signs are clear germany is heading towards a recession overall industrial output in june this year was down one and a half percent compared to may that was a bigger drop than analysts had been forecasting compared to june of last year it was an even greater fall 5.2 percent the biggest decline since the financial crisis broke a decade ago industrial output is expected to drop further in the next 3 months.

the trade spat between the u.s. and china is only getting worse but some reprieve on the economic front as beijing pulled this out of its chinese exports rose 3 and a 3rd percent last month on the same month last year analysts had predicted a fall given the trade war but china's imports from the u.s. did the klein 1000 percent year on year and china is no longer america's top trading partner it's now below mexico and canada. our financial correspondent yan's car that joins us now from new york a welcome yes so just how are these export numbers from china being viewed on wall street. well for now there was a huge relief when we got those data and if you look at the comeback came here on wall street at the whole of the session on when stay until the end of the session here on thursday the dow jones industrial average gained about almost 1000 points

in value the big question is what those numbers are really worth of it they got published for the month of july is a bit was really before us so donald trump announced that he would like to increase tariffs on the $300000000000.00 worth of imports from china by september 1 but at least for for now there was a little bit of good news from the economic front and therefore we saw a huge comeback here on wall street. numbers with a grain of salt but wall street is taking what it can get stay where you are young because there's more market moving used to chat about and right hailing service has set a record but probably not the kind it wants to impose at a loss of $5200000000.00 for the 2nd quarter its deepest reported so far over its revenue rose up 14 percent on the year to 3100000000 dollars its lowest quarterly growth rate the company has struggled to overtake concerns it would ever make money

and it's back to yes quarter on wall street yes are you there we should see you in just i'm a woman but hello yes how are investors reacting to those numbers from goober they're not great either. well i mean ober is facing a couple of battles all over the glade with regulators with competitors with drivers and those numbers clearly were worse than expected in an initial reaction and after our trading the stock dropped by as much as 10 percent that then after a c.e.o. spoke and was kind of upbeat that at some point he's convinced over might become profitable we did see some of the losses narrowing down a bit so clearly no good numbers but overall it's wall street still seems to be

well not certain but as you said certain chop that over can be profitable eventually but the stock also clearly trades below its i.p.o. price when over became public here on wall street by early may investors riding a hopeful wave thank you very much chance carter there in new york for us at the end of october britain is set to leave the european union with or without a formal departure arrangement with the e.u. a so-called new deal frags it would cause major disruptions to travel in trade causing food shortages and raising food prices by as much as 10 percent here its largest port producer has said supermarkets could struggle to stock their shops. in normal times britain is since pigs would end up on british dinner plate danish heritage produced beacon beloved by brits but these are abnormal times the growing

chances of a new deal breaks it has left utopian farmers like her fearing for their futures. i am a little worried but. we have had 3 years to get this so i think we are well that we have made a very special product for the for the u.k. market i think it will be very sad if. it cannot sell it for english millennium anymore. at the danish crime processing plant the preparing meat for the global market the company is the largest pork exporter on earth which is handy as the bleak forecast is forcing bosses to search for new markets elsewhere because we need to look at the. at turn to because if you look at the rhetoric coming out of. the british from the british government then it's do

a diet and for british consumers it isn't any better more expensive products. could it mean empty shelves quite possibly it's not just food as much as half of the free trade crossing the english channel is expected to face disruptions the u.k. government is warning people to brace for shortages of medicine and other vital supplies. back at the pic farm however the prime minister boris johnson's do or die approach may yet find snorts of approval. now to some of the other business stories making news samsung has unveiled its new galaxy note smartphone it hopes it will have of the i phones market share the south korean company is quizzing more battery life into its latest devices scrapping the headphone jack something it mocked competitors for doing. sprinted to strong profit growth in the 2nd quarter earning over half

a 1000000000 euros but sales grew less than expected sending its shares down the sportswear maker says its biggest problem is overcoming supply chain bottlenecks to meet demand in north america. italy has been cruise ships from entering venice residents have long complained the one and a half 1000000 tourists are arriving on cruises every year create congestion rubbish and spend too little on the businesses following a collision in june when the liner struck a boat the italian government says it will now recruit ships away from the historic city. as the world is getting hotter more of the world's polar ice is melting where some see a climate catastrophe others see a business opportunity take a look. yes that's an iceberg and this is how edward keene now makes his money the 60 year old canadian fisherman hunts ice that's. to the north and drifted south to warmer waters his team breaks the joint apart sometimes

with the help of a rifle pushes them out of the water and holds them into the a boat where they're thrown into a container to melt all for this bottled glazier water welcome to the profitable side of climate change with the arctic swarming waters come new opportunities for the business minded in canada and not just for bottling more tourists are flocking to iceberg once frozen car doors are now opening giving visitors the chance to reflect soberly on the revenues of climate change. the region is benefiting from the boom which has helped to offset the decline in the area's traditional fishing industry part of the newfoundland and labrador coast has even renamed itself the iceberg corridor or keep getting better every year you know we got 2 or buses coming your nose if you can see behind you there but we decided to have us come in now we've got a 13540 tour buses you know with older people coming into town every every season

so. back on keane's boat he's got a hole to deliver he can collect as much as 800000 liters from may to july which he'll sell locally for a dollar a liter the same water will be sold again eventually fetching as much as $12.00 a bottle target market luxury shoppers in europe and the middle east keane is philosophical about his role. we're going to do a couple 3 weeks. naturae back to a jury. so we're here for our climate change appears to be unstoppable might as well make a little money in the process. and speaking of climate change and money could the battle to save the planet be prompting germany to review it. frugal fiscal policy a senior official is reported as saying the government may ditch its much cherished balance budget to fund an expensive climate protection program for years strong growth and high employment have allowed at berlin to boost public spending without

taking on fresh that but shifting away from fossil fuels will cost some 37000000000 euros meaning germany might have to enter budget deficit territory after all. that's your business update thanks for watching.

earth. or saving. those stories of creative people and innovative projects around the world. protect the climate boost green energy solutions for. the series of global 3 d. w. and online hijacking in the news. more are going wrong with the news is being hijacked. has become a reality show. good versus evil for. russia china church. and you try to get beyond that you are facing scare tactics intimidation. and i wonder is that where we're headed is well. my responsibility as

a journalist is to get beyond the smoke and mirrors it's not just about being clear and balanced or being neutral it's about being truthful. when he was point golf and i were you know. this is news africa coming up on the program u.n. peacekeepers in the democratic republic of congo that was street sense in beni march in protest the uk use the un as the black station mission also feeling that and see the fia being led by initiatives. in uganda and eco friendly business has found the natural alternative to plastic drinking strolls they have made from the traditional local plant used in the country. before it is that make their own food and then let the.