and when to watch the spectacle on tuesday now the lighthouse should be safe to visit for decades to come. all right coming up next business news was. for all of us here in berlin thanks for the company we'll see you tomorrow. i subscribe to do you know where your books are something more in the world than the book we made. after father's. books are known to. sleep. carefully. the soon. to get.

discovered. subscription documentary on to. go for the same. cities worldwide could follow berlin as the german capital introduced this rent control the city council says enough is enough to speculators and insane rental prices but could the bill do more harm than good ask the experts. also on the show the japanese giant softbank officially acquires we work for billions of dollars the c.e.o. of the shared workspace startup will leave with

a massive payoff have the details. and the future of cab ride says here german start of copper demonstrates its 1st prototype in singapore hoping to revolutionize or even transform. the south for business on the. welcome to the program berlin could be on the brink of becoming a role model for stopping the exploding real estate prices and global cities where at least that's how some see it the german capital has voted in favor of a law banning rent raises for the next 5 years and includes unique protections for tenants the billions to stop the escalating rent prices that grow quicker here than anywhere else in the world tenants are ecstatic of course but is this measure truly good for the housing market industry experts warn of the consequences. it's become devilishly hard to find an apartment in berlin it's not just the dearth of them on the market they're also growing increasingly expensive as rents so many people fear

they could lose their homes to speculators and now the city government is stepping in its implementing rent controls from the beginning of next year that means rents will be frozen at current levels for 5 years during that period they'll be capped at a maximum of 9 euros $0.80 per square meter rents which exceed that will have to be reduced. and also should know it's a huge step forward for berlin tenants it gives them breathing space and we have to use this breathing space in rent price developments to construct more new housing at a faster pace. businesses are asking who will continue to invest in berlin of politicians sheffield the free market real estate companies are furious some accuse the authorities of returning to socialist planning and expropriation the sector says the move will drive off urgently needed investment. will have less new housing construction there will be less maintenance work done and less for her basement in

the end that will also impact the city's entire scared straight sector. but burdens leaders are convinced rent controls are the correct response to the situation. and they hope it could serve as a model for other cities but face the same pressures that japanese tech conglomerates softbank will spend more than $10000000000.00 taking control of work space sharing the start of we work soft bank obviously at least has faith and we work it's not spend $900000000000.00 on a company that is valued $88.00 and $8.00 bill last week we were cancelled an i.p.o. which was originally valued at a staggering $47000000000.00 it's understood c.e.o. adam newman is stepping down as part of the deal but while he gets a golden parachute we work staff face the prospect of thousands of layoffs.

to analyze theirs i'm now joined by the financial correspondent on wall street against carter who's joining me now good evening yes well we've seen mixed reactions to this announcement with some analysts even calling it a crisis for a soft bag what do we make of this deal. well soft bank has already pumped of billions of dollars into we were going now as you mentioned the company is by far not as much aware as we know as soft bank was hoping for at the beginning of the year and if you know if we work in general the problem is they actually have the long term liabilities from their i.p.o. prospectus a couple of weeks ago in the amount of more than 45000000000 dollars but the other side they have heavy losses for the 1st 6 months of the year we saw revenue and we were of about $1500000000.00 but on the other side we also had losses for the 1st 6

months of the year of a good $700000000.00 so well we will see if soft pink is doing this really because they see the success story or if it's also a desperate move after we were was threatening to run out of money was in the next couple of weeks let's talk about that we were scurrying c.e.o. adam newman who will step down but will receive a whopping $1700000000.00 in compensation how considering the company's disappointing performance. well basically because adam human owned quite a chunk of stock in we work and about $1000000000.00 that adam newman is getting from soft bank that is actually his his hair so his stocks he also will get roughly a $500000000.00 for a loan facility and then it got $180000000.00 for as

a consulting fees so some analysts are saying that for adam human this is the emperor has no clothes moment but on the other side for adam human it's also a very lucrative moment definitely so thank you very much in new york for the analysis. now to some of the other business stories we're following for you at this hour iconic u.s. motorcycle maker harley davidson saw 2nd quarter profits dive 20 percent year on year harley has been hit by the tariff disputes between the u.s. and the e.u. european tariffs on the famous machines rose from 6 percent to 31 percent but the result was better than expected and harley shares rose on the news. the russia africa forum is about to start in sochi the kremlin expects $47.00 african leaders for the event for moscow africa is a potentially lucrative market for russian products including weapons and as the

world's leading wheat producer russia is also looking to sell dreams for africa's ever growing population. the world's number 3 on a mode of supply or continental has written off 2 and a half 1000000000 euros in assets the german company expects slower auto production growth in at least the mid term and is also spinning off its power train division instead of floating country shares were slightly up on the news. that qatar announced a major expansion of doha's hamada international airport the new construction will allow the airport to double its capacity for the 1st phase will be ready by 2022 into tar will host the fifo world cup construction is due to start next year. thousands of farmers in germany and france have taken to the streets of 2 states they're protesting against stricter environmental regulations that they say make it almost impossible to remain profitable many farms already work at the margins of near subsistence according to the protesters more costs would be unbearable.

farmers have just about was hard enough on the one hand they're supposed to produce a 4 to both food on the other they're being branded as environmental vandals and animal abusers. we've got to sit down and talk we've got to develop our ideas together and think about how we can structure our work going forward and stop blaming the farmers because in the end they're the ones who produce the food and no one else. but just how it's produced is the bone of contention here environmental it's regarded the agricultural industry as the prime cause of insect extinction and species endangerment as a result germany has tightened regulations restricting the use of pesticides and fertilizer that in turn makes it more expensive for farmers to cultivate their crops. europe's agricultural policy is something mainly decided in brussels the european union hunted $60000000000.00 euros

a year in subsidies to farmers but only a small percentage of that goes to smaller farms and environmental protection another thing the farmers demonstrating in strasbourg want to see changed. if we change the deal and those who work well benefit from european subsidies and if we cease to support the agriculture that we do not want to lead farmers nowhere in terms of problems i think many farmers are ok about change. that's why organic farmers and n.g.o.s are pushing hard to make sure the new e.u. farming budget earmarks more money for the environment they say it's the only way farmers can produce food in a sustainable fashion. before we go maybe it is not really the taxi is official replacement but the unmanned air taxi firm and start. certainly thinks so the company tested one of its flying taxis in singapore it was

a part of an intelligent transport system world congress which runs there until october 25th. the test flight in singapore involved a pilot but the final version will be able to fly without one of all the coptic can travel up to 110 kilometers an hour carrying 2 passengers out their luggage bill to cover short distances it can stay in the air for 30 minutes the company believes its biggest market will be cities like to carter and bangkok which suffer from intense traffic congestion. many of the world's largest megacities are home in asia so obviously this is a matter of market to us and we see great progress on the side of the authorities of you know making new modes of transportation available so asia is a natural fit for volvo propter. copters says the service will likely appeal to business travelers eager to save time but is hoping that the general public will

one day be able to afford it to. the follow up there is no electric power drone which runs on 18 brochures as a result it's much quieter than helicopters which require fuel. to term and start up is backed by carmaker di miller in september and in that instant was joining up with the holding group which will bring its air taxis to china which they hope will be the future of our urban travel. thank you very much for watching that's all for g.w. business will see you next time take care of.

played. truism on the monday. with a construction boom to boot kristie lu seems to have made way for new island airports and luxury hotels nothing but the best for 1st class tourists but looking after the environment. global was.

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a home worth saving. global ideas tell stories of creative people and innovative projects around the world ideas that. check the closet used to clean energy solutions and reforestation. interactive content to inspire people to take action google audience and series of google 3000 on t.w. and online. still 3 offer this jerk is offensive in northern syria plunging nato into crisis zone does this call for more than diplomacy from germany from the e.u. . we are talking to germany's defense minister and i could come. let's start with the big questions syria minister what will you say to your nato colleagues when you meet with them later this week.

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