you know where you're a max series. like me i'm nothing even less sure what today's 6 in looks like so it's like me this 15 you sions 50 stories and 53 personal tips on berlin's read this. book now. every week on t.w. . in the. more market volatility in the u.s. wall street indexes seesaw after positive retail figures take the edge off a steady stream of bad news so is the global recession called off not quite. and is the farm coming to the big city we'll take you to a growing operation in the big apple. this is your business report i'm stephen

bears in berlin thanks for joining us another day on wall street another volatile session markets ultimately ending in positive territory today after solid u.s. retail numbers suggest that american consumption remains strong and that followed the worst day of the year for stocks with both the dow and nasdaq losing 3 percent wednesday on new recession worries the ups and downs of the markets are not going on noticed u.s. government is now trying to call investor jitters. here on wall street traders cheered retail giant wal-mart strong quarterly earnings the figures coms nerves on the floor they show us consumer demand is strong despite the trade war with china the trumpet ministration lost no time issuing a statement assuring that the u.s. economy is healthy. i think on the economy. week right now i think we are in a in a in

a very comfortable environment in which we have 3.7 percent claim and the lowest it's been in 50 years we have. record on a low unemployment for african-americans record love for hispanic americans real disposable income in the last 24 months for households increased $5000.00 the consumer in america is strong in europe however stocks were down following the previous day's wall street losses here investors were also reacting to bad figures from europe's economic powerhouse germany g.d.p. they're contracted 0 point one percent in the 2nd quarter the r word is now doing the rounds recession many fear the export oriented german economy is being dragged down by the on the go into the u.s. china trade war right now beijing is sending mixed signals it says it remains open to negotiations with the u.s. on the other hand the chinese have threatened to retaliate if washington goes ahead

with its plans to terrify ics on september 1st. and let's go now to our financial correspondent in new york jose luis jose i think we've been talking about wall street ups and downs this whole week if not this whole month today the numbers are up is it fair to say however that the overwhelming feeling is still one of an ease . totally is stephen and that is not going away anytime soon since then nothing has have fundamentally changed in terms of downside . to you as a consumers brought some calm to investors as they have to spend in full force small retail sales as you mentioned increased at 7 tenths of a percent in july so far implies. bringing in consumption down wal-mart earnings also brought some fresh air to be gives a retailer wide increase even if it's a full year sales outlook that said that tensions are still very much alive with

threatening to to reach a new target so wall us earnings outlook for usa companies in the 2nd half of this year is it being reviewed down not only worries about day ongoing trade war and global economic growth are taking a toll on margins but also a tight labor market commodity calls on of course a stronger u.s. dollar and if they want to take a look at another story heading markets that's not related to any of those factors g.e. stocks suffering a major blow today after accounting experts said the american firm has concealed major financial losses and g.e. shares tumbled more than 11 percent the company's c.e.o. denied the accusations and noted that the report was bankrolled by a hedge fund which stood to gain from losses in g.e. shares of the author of that report harry markopoulos is known on wall street for under covering the multibillion dollar ponzi scheme run by disgraced financier bernie made off a name that you may be familiar with so markets take this accusation very seriously

despite the fact of the person behind it could profit from g.'s losses what's going on. while as you mention an accounting expert who rates concerns about bernie made over ponzi scheme back in the day it's now comparing g.e. accounting practices a to and when one's and their losses up to 38000000000 dollars less. and all don't forget that and last one if not the biggest corporate fraud in history and according to to his analysis g.e. is heading to insolvency and has been changing its financial statement reporting for months every years every few years i had to make it impossible to compare numbers but even if the company has denied these allegations these are report as you mentioned he's in good working for short sellers it is also true that both this security secrets exchange commission and the u.s. justice department are already investigating for potential accounting issues related to it seems were and holdings on problems you need to have power. and enron

like bernie made off both both loaded terms well known figures in financial history in the us where they lose the heart of their force in new york thank you. let's now look at some of the other global business stories making news. european banking stocks fell on expectations that the european central bank will lower borrowing rates in the coming weeks germany's leading banks deutsche bank and comments slid to record lows germany's number one in 2 lenders have struggled to recover since the financial crisis. boeing is postponing the delivery date for the ultra long haul version of its 777 x. model the airliner series has reportedly phased engine problems during development boeing of course is still reeling from the grounding of its 737 max aircraft following 2 crashes. on thursday allowed a detained iranian super tanker to leave the british overseas territory a move that could help defuse tensions between london and tehran those tensions are

part of increasing friction between iran and the west over economic sanctions and those sanctions are taking a major toll on a rainy and business owners and consumers take a look. from the ring in port city of pounder a whole line of tankers can be seen transiting the strait of hormuz they come from the entire region kuwait bahrain and the united arab emirates supplying the whole world with oil container ships are also in transit many. bringing important goods to the sanctions stricken country shipowner and trader abdullah stuff already has just arrived here from dubai with a consignment of refrigerators. it's becoming increasingly hard for him to trade with other countries but. are used to wait for one or 2 hours for permission to dock in dubai now i can wait one to 2 weeks and see wondering if they let me you know not because of the u.s.

sanctions i've got chinese traders you know insist on cash payment from iranians like myself we can't make bank transfers because of the sanctions. every day life is becoming really difficult in iran foreign products scarce even medical technology and pharmaceuticals which targeted by the sanctions. are. the world's population is growing in case you haven't heard in fact by 2052 thirds of the world's population is expected to live in urban areas with food shortages possibility could urban farming be the answer. tending to your crops with the statue of liberty looming in the distance this is the setting of new york's largest urban farm the idea behind the project is to deliver vegetables directly from the rooftop to the place this is 140000 square feet and it's our largest farm

so far it's our 3rd farm that we've done in about 10 years. the farm grows $36.00 tons of vegetables every year the project is sold to restaurants and farmers' markets. there are no synthetic fertilizers and you see here the soil is a mixture of compost and lightweight stone which makes it efficient up storing water. huge point of surface area across our city is the impermeable roof surfaces so when the water hits that it goes straight into the system so we can slow it down and absorb millions and millions of gallons on spaces like this urban farming is a growing trend in every sense in the future rooftop gardens could be a common sight in cities around the world. the european soccer season is getting underway the con its biggest leagues and clubs from top german sides to barcelona renowned clubs like ajax amsterdam or celtic glasgow all share

a common grown literally. perfect soccer pitches don't grow over nice this one took about a year to cultivate. here on the german dutch border with it sandy soil close to ground water level the conditions are ideal. the pitch needs to be tended to almost daily. so it will not modem it for the strips will be mown some 100 times before harvesting they also get water 10 to 12 times by then and there have been fertilize 6 or 7 times along with other measures like combing detaching and vacuuming. the grass needs more water in hot summers it's 30 degrees here today so the turf needs to be harvested and dispatched rapidly as a living organism it won't last too long wrapped in plastic in the back of.

the doors it isn't certain that the heat means stress for the turf it can generate enormous he's itself when it's rolled up like this can reach temperatures of over 60 or 70 degrees and that can ruin it all. this time everything has gone smoothly and the turf arrives in cologne stadium in good shape. the fit takes only a day to lay the new pitch in cologne then it's mode air and water it ready for its 1st pounding. and that's it for me in the business team you can find out more about these and other stories online dot com slash business. it's watching.

play. play. play. s.o.s. europe the european crisis. it still has a future it will meet champions young champions glenny to the sport come true so for your functions the dream for the

future. stand a chance from going to save the good to nigeria the flames. the need to stand up for european values and contribute to something important that shape. the future of europe starts september 2nd on d w. the present europe that's most amazing at its most exciting. its most creative colorful play true to taste innovation brilliance charming. and elizabeth. move. on t.w. . i'm not laughing at that

because sometimes i am but i stand up and. thinks deep into the german culture. stereotype quacks. if you think you see the countryside our time. here you don't see the pictures grandmother there you go it's cold out there at no time rachel join me to meet the germans on the w. . post. there is half a century ago the 26 year old jimi hendrix playing his heart out at the famous woodstock music festival. and with welcome to arts and culture and that was

a clip from the 1970 film woodstock documenting an event that defined the 1960 s. counterculture and as we mark 50 years since the summer of love we'll look into its enduring fascination and also coming up. our series on european landmarks takes us to barcelona in northeastern spain where there's a gratify me is still under construction. and we'll meet dimitri polytunnel who takes the art pole dancing to entirely new heights. it was 50 years ago that some 400000 people descended on max yeah farm near woodstock new york for what amounted to a hippies utopian dream namely 4 days of sex drugs and rock n roll as far as the eye could see janis joplin the who and crosby stills and nash all joined hendrix and many others for what became a legendary lineup and even.