this is business. as welcome hong kong will remain closed until 6 o'clock tomorrow morning authorities that all flights from london as thousands of protesters occupy the main terminal authorities said operations have been seriously disrupted by the demonstrations against the policies of the beijing government planes arriving in hong kong will still be allowed to land in a separate development hong kong. cathay pacific to find stuff to take part in the protests it's already dismissed 2 employees. slumped to 10 year low. now let's have a look at the bigger picture here with. cliff. what do you think was behind those doors his decision to cancel all flights well there's no choice really we have 200 thousands of protesters in the airport it comes on a day it's interesting because you have got the pacific earlier as you mentioned

you know they have the worst performance in 10 years. and they have to do something to shore it up but the economic consequences are looking very serious and clearly it's an escalation so this is the response that they can help with it talking about the economic consequences what are we looking at right now as we speak well i think it's very interesting the fact that this is the airport you know this was voted the best airport in the world in 2016 it's a huge symbol of hong kong's great authority in the world's position in the world designed by certain or in foster. and suddenly you know it's seeing itself in all kinds of trouble and it kind of reflects what's happening in hong kong it mirrors what's happening in hong kong in that way so some investment houses are now talking about how this translation into lower growth they're expecting negative growth in the 2nd in the 3rd quarter of this year which will be technically a recession. and that's the 1st time since the financial crisis 10 years ago 11 years ago that we've seen in a recession in hong kong so clear. the impact is rather large as you do this

a lot at stake here but what's what's at stake here for beijing well beijing beijing needs hong kong it needs hong kong as a conduit for in outside investment from internationally still shanghai isn't there yet as you know it's got its own growth markets and such but it hasn't got quite the level of sophistication of hong kong so they obviously need to prepare this but this could really damage hong kong's image if things escalate further if there's some kind of armed intervention by chinese military at the damage to hong kong's reputation could be irreparable so it's very finely balanced at the moment i think there's an awful lot at stake using our intervention is still on the cards it's still the chinese military still have a barracks there it could happen but for the moment i think it's going to be left to the to the police cliff couldn't thank you very much. now with antigovernment protests raging in hong kong china has become particularly sensitive about its national sovereignty 2 luxury fashion brands for sassy and

coach to apologize for their t. shirt designs italian brand for sassy got it into hot water for listing hong kong and macau as independent countries both are semi autonomous cities in china there was a similar mistake coach the u.s. brands the controversial t. shirts were removed from stores and online outlets previous reply being branded gap at the hotel chain the marriott found themselves involved in controversy over after mislabeling chinese territories. meanwhile the trade conflict between the us and china is taking its toll well beyond the 2 economic powerhouses involved in the report by consultancy blames the spot for a drastic drop in chinese investment in europe. in president trumps for attracted tariff war with china europeans are suffering the collateral damage the consultancy firm young says the conflict between the superpowers and the domestic slowdown it's

produced is the main reason behind an 80 percent drop in chinese yuan flowing into european countries. the decline in chinese investment in europe since the trade tensions developed is plain to see in the 1st half of 2018 a total of $113.00 deals equated to $15300000000.00 of investment but the most recent figures show $81.00 deals during the 1st half of this year brought in just $2400000000.00. the slowing of chinese investment is perhaps most obvious in european economic powerhouse germany china hasn't made a single acquisition this year and has invested just half a $1000000000.00 compared with $10000000000.00 during $28.00 teen. the front seat rush that sort chinese investors race to snap up european innovators such as report 6 company kuka appears to be grinding to a halt. so no more money from china let's bring in the dog use on

a device off the front and stock exchange on its german politicians have been alarmed over china's shopping spree across europe in the last couple of years and blocked deals so is this good news from the european perspective. well actually i wouldn't say specially call it good news from the european a prospective because clearly what china chinese money is doing as well it's opening up the huge value chinese market for german companies and that has done a lot of good for a german corpus as well but clearly it was quite high on the agenda of european and german politicians to make actually get a level playing field in place so that not state subsidized chinese companies can come over and spend an awful lot of money and the german companies cannot have the same sort of market openness in china as well but bottom line is that what ernst

and young is saying as well that chinese company this bias that they haven't invested a lot in the 1st half of this year they stand ready if there are look for to investment opportunities they would be willing to actually splash out their money especially in the automotive field when it comes to electrification but also for like big names in the consumer space there is still a lot of interest so there is still is a need for joy needs money. yes actually if you look at opinion polls so chinese money is obviously it's a 2 edged sword because some are saying they just take away the technology and they bring it to china but if you look at the evidence is that those companies who have chinese money in on their books they actually did a lot better. because chinese investors and besting a lot of money and r. and d. and they want to grow the business and as i was saying early on they are opening up

the huge chinese market for those companies they're invested in and it's possible the frankfurt thank you. $550000.00 ball yvon note that was venezuela central banks most recent attempt to curb the galloping devaluation of money and shortages it has helped little miss international sanctions against the socialist madore government the value of the bowl of all continue to plummet leaving people desperate for hard cards. this caracas restaurant sells pastries called empanada has like all their business except electronic payments but there are still many customers who prefer paying in cash and us dollars. saving every day people ask whether we take cash. but we obviously don't accept large bills we're going to call our families cheap. dollars are accepted just about

everywhere in caracas even if this market. this trader doesn't want to be filmed at 1st it looks like the eggs are being paid for with the ball of our national currency but it turns out to be u.s. dollars. there's more to this trend than just the collapse of venezuela's currencies says economist wrong. look. at the moment there are large amounts of dollars pesos another currency is in circulation and we've been through hyperinflation i mean the same time the central bank has allowed the kashi talks in circulation to lose their value very quickly without adjusting the banknotes accordingly. it's hard to say how dollars enter venezuela since the central bank no longer provides information on foreign exchange receives but the greenback is clearly being circulation here. in.

order to when it comes to dollars from private sources. we don't know how much there is all while playing said there is a law that prevents currency trading but it's getting less transparent because people have to spend their money secretly and so even if the money comes from legitimate sources. of course there's also money from illegitimate sources like drugs it's very difficult to determine who will do you know what i guess you're quoting. here some venezuelan send remittances home in us dollars stimulation the import market there are no shortages in this caracas super market but the imports here are 2 or 3 times more expensive than those in europe or in the u.s. . some stores only sell imports what they go in is are luxury imports shops can be found almost everywhere.

but on a hike you know and i know that a whole lot of people don't earn dollars so it's hard to pay in dollars coming in the lettuce has so much happens under the table including the use of the dollar is a lot that's not legal money. like i'm still paid in dollars right now everything i want to buy sold in dollars. economists have no illusions about the situation as long as there's no realistic foreign exchange policy in form of supply and demand will determine how people pay for goods. to saudi arabia where the state energy aramco has posted a 12 percent drop in profits in its 1st ever half year report the disclosures fueling renewed speculation the company is preparing for an overseas stock listing the statement made no mention of the i.p.o. which is the world's biggest stock sale run close net income slips to $46900000000.00 during the 1st half of this year pushed down by low prices.

south korea is to remove japan from a list of countries that get preferential trade treatment it's the latest development and escalating dispute between the 2 asian houses last month japan restricted exports of technical equipment south korean companies like sums of rely on produce more phones t.v.'s the 2 sides disagree over compensations for south koreans who were forced into labor during japan's occupation of the korean peninsula during world war 2. and that's all from the w.'s business entity income or check out our website that's t w slash business.

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suddenly what's going to happen when they grow and they will schumann's and machines for you to peacefully co-exist or are we on the verge of the lips if we just bumble into this totally unprepared with our heads in the shooting think about what could go wrong then its 1st face it is probably going to be the biggest mistake in human history. artificial intelligence spreading throughout our society this is the beginning of a good in digital the flu subjected to continuous state surveillance. with experts be able to agree on ethical guidelines or will this technology create deadly new autonomous weapon systems are going to. robot collapse cousteau it's august 14th on d w going to.

play . this is e.w. news live from her lead authorities in hong kong closed down the airport as anti-government protesters occupied the arrivals hall the abrupt shutdown i one of the world's busiest hubs comes as the chinese government signals its rising anger at the protest denouncing some of the demonstrations as terrorism. also coming up italy's far right interior minister mattel's help any hopes to push through a no confidence vote in the government so that he can win a snap election time.