argentina's new treasury minister acts fast to stabilize the beleaguered peso selling dollar reserves in a much welcomed move but can he solve the country's underlying problems including its massive pile of debt. also coming up its legal bills are mounting now german heavyweight buyer is selling its animal health unit to free up cash. and fasten your seat belts singapore is getting ready to launch a trial itself driving buses. this is your business report i'm stephen bears in berlin thanks for joining us argentina welcome to new treasury minister on tuesday and on the coon's it wasted no time in dealing with the country's fragile economy argentina's central bank auction $112000000000.00 u.s. dollars from its reserves to stop the country's peso from falling markets welcomed the move but more remains to be done. it's looking increasingly likely that the

presidential palace in buenos aires will have a new resident in the near future although the current president mary snow mccree has just appointed the 4th treasury minister of his tenure if you expect the president to be around long enough to see how the new man performs the election is coming and everything points to a big defeat for mockery just over a week ago he suffered a crushing defeat to left wing opposition candidate out battle fernandez in a national primary a key bellwether ahead of the main presidential vote on october 27th in the aftermath the argentine stock markets suffered one of the biggest falls of its history while the peso fell sharply against the us dollar it was all too much for outgoing treasury minister nicole last to hold any who promptly resigned and. he says he wants to make the most of the 2 months left to polling day. when the next administration arrives. whoever the voters choose the important thing is that the

starting point for the next president is a solid and robust platform to recover growth. but argentina is buried in debt the i.m.f. gave my crease government a $57000000000.00 loan last year on the provision that it implemented strict austerity measures to attract foreign investment the investment has not come the economy is struggling and the i.m.f. are due for a visit. just yesterday i spoke with representatives of the i.m.f. by telephone. in the coming days they will visit to make a review of the goals that were set out. but who cares about abstract budgetary targets when ordinary people are running out of money with price increases of more

than 50 percent already recorded in 2019 it looks like there are more difficult times ahead for argentina. over in north america now where u.s. steel says it's laying off up to $200.00 workers for at least 6 months at its plant in the state of michigan back in june the company warned that softening demand and lower steel prices would lead to the closing of 2 blast furnaces at the great lakes facility layoffs call into question claims by u.s. president trump that he's reviving the domestic steel industry. and let's go to our financial correspondent in new york he ends korda so again some dark clouds over the steel industry what's really behind this. now well i mean when the current administration started to impose tariffs on steel and dollar minium in march of $28000.00 we saw a little bit of a production increase here in the united states but at the same time we saw prices

for steel starting to decline and pays basically also between of the trade disputes between china and the united states let china to buy less steel and china pretty much is the biggest buyer of steel so steel prices started to stumble at the same is true for stock prices if you take the stock price of unite of u.s. steel that's basically in a freefall since march of $80.00 and the stock is down by a good 70 percent so just last week u.s. president donald trump claimed in the steel industry of pennsylvania that he actually. turned a dense business into a thriving and to apprise well those numbers actually tell a different story they insist more talk today in us about economic stimulus to ward off for a session what's in the sky. that actually seems to be the big new idea

here in the united states but we heard similar arguments over in germany for instance so the central banks overall seem to basically got rid of all their dry powder so now. we see the turn to fiscal politics so there is the idea for example here in the u.s. to come to payroll taxes but that is very unlikely to happen even if us president donald trump on tuesday said that he's toying around with this idea but we're in the face of elections and it's basically impossible that there will be a majority for such plans but it's interesting to see even if we for example 2 full employment here in the united states every body seems to drive whatever is possible to keep economic growth going or a quarter there for us in new york thank you yes german conglomerate buyer hoped its takeover of us for months and so would turn it into

a heavyweight in the promising sector of crops instead the purchases put buyer in a very difficult position the legal costs for months santos rounds up weed killer are climbing and buyer needs cash now it's sold its animal health unit man's best friend is trending with incomes rising worldwide the demand for animal health products is also increasing now german pharmaceutical giant buyer is selling its animal health unit to u.s. based drug firm a langkow for $7600000000.00 the move will create the 2nd largest company of its kind for buyer animal health is only a small part of the group's business and 20 again it brought in revenue of around one and a half 1000000000 euros it's larger units include consumer health with $5400000000.00 euros crop science with just over $14000000000.00 and pharmaceuticals with almost $17000000000.00 euros. selling the animal health division will allow a buyer to bring in some urgently needed cash the company has had

a few rough months with multi-billion dollar lawsuits over the weekend a roundup and its active ingredient to life was saved with funds dwindling and share prices dropping fire has recently moved to sell units not directly related to its core business of life sciences most recently it on loaded some time lotion brand coppertone as well as its dr scholl's foot care unit buyers planning to focus more on its traditional divisions including pharmaceuticals and consumer health british prime minister boris johnson has asked the e.u. to renegotiate its spec brags that agreement threatening his country will otherwise leave without a deal on october 31st whatever the likelihood of a renegotiation more businesses in the u.k. are realising how difficult it could be. the trucks are still rolling swiftly through the port of dover but soon there could be long traffic jams at the end of october britain intends to leave the e.u.

with or without a deal prime minister boris johnson never tires of stressing but of brakes it without a deal would definitely mean customs controls in ports like dover and long waiting times $10000.00 trucks 220030000 very can you imagine it's going to be hell for everybody and it's going to bankrupt the british economy fears of serious economic consequences in the event of a no deal briggs's are growing not only here in dover last weekend secret government documents were revealed they warned shortages of food medicines and petrol in the event of a no deal brigs it. the fears are not exaggerated when you consider the formalities that are common for goods and customs clearance with countries outside the e.u. internal market. everybody doing papers like me. for bio is not our job but that too much time meanwhile the bricks of supporters in

the new british government still hope to renegotiate the divorce agreement they don't seem to have a plan b. you appear to be putting up a battery isn't saying they don't want to talk i'm sure they will change their mind i had hoped they will change their mind but we are ready to the top of the 51st deal new deal in a 4 page letter boris johnson has just made demands on the e.u. but demands are not it doesn't look like new negotiations are on the horizon. commuters take age driverless bus to work that's what officials in singapore hope to find out as they prepare a trial of self driving buses. his days are numbered at least if the trial goes well this driverless bus is one of several vehicles that singapore is trying out next week as part of a scheme to promote autonomous truck force if you've ever wondered how the technology works here is your explanation. for those of us. you

know using a wall or. using the braces off the street all senses like these. and the fuse that. follows us where. we. train. passengers can use an app on their phone to book the shuttles the destinations on our fridge or in the test phase include a golf club the beach and a historic force. to scheme is just one example to illustrate what's becoming a growing interest in the south driving sector the global autonomous vehicle market is a ready worth an estimated $54000000000.00 annually a figure that's expected to increase tenfold in the next decade competition is ready stiff back in 2016 u.s. software firm new to know me launched driverless taxi trials in singapore basing viable by a matter of weeks the company behind the current trial is hoping that betting on

self driving buses will push ahead of the curve. and that's it for me in the business team. thanks for watching.

earth. for saving. those tell stories of creative people and to innovate as projects around the world. protect the climate and boost green energy solutions by global mean by a series of global 3 goals and. welcome to the what is the game here for development the flames to talk about since. the salt coverage. 3 more. slowly have passed let's have a look at some economists believe look so you don't want to miss this. if you. don't believe. i'm not laughing at that well i guess sometimes i am but i said nothing which is that the german thinks the printer jemma culture of looking at the stereotype question in here think the

future of this country guy not. to take his grandmother there. it's all about. ok. i'm rachel join me from the german fundi w. . post the 1st. this is either beanies africa coming up in the next 15 minutes droughts storms and crops aliased a study finds more people in africa austine and feeling the effects of climate change. the house everything there's nothing left. but we're here to suffer. or suffer and i don't know where we're going to be able to stay right there. and the hidden treasures he gets to be and it's did i robi's national museum and i'm catalogued insight into.