go to the euro channel. goodbye no story. with exclusive. the must see concerning courtroom culture in europe. they should be curious minds. do it yourself networkers. subscribing don't miss. germany maybe europe's industrial things are quite different in the digital space and terms of infrastructure the country is behind most of its european peers will look at how the government in industry plans to change that. and consider the lobster fisherman in the u.s.

state of maine are suffering from props trade war canadian colleagues snap up market share. this is t.w. business i'm in berlin welcome to germany's digital infrastructure continues to lag behind other european countries today politicians and lobbyists will be discussing how they can go about improving its an industry summit here in berlin what's the current reality on the ground in europe's leading economy let's have a closer look well it's far from world class 1st coverage of high speed internet is still very patchy studies show that just 88 percent of households here even have access to the internet at speeds required for streaming video for example that's pretty bad for a country that prides itself and its technological prowess and international ranking germany finds itself on down the list in 37th place to be exact and things don't look much better. it comes to wireless coverage that is 4 g.

there are dead sports everywhere only around 77 percent of the population have continuous access to high speed wireless internet connections and especially when you're driving down the country's famous also brand motorways at high speeds preferably you'll find that the podcast you streaming on spotify just stops now let's have a closer look at this with my colleague rob ward's who is looked into this story a bit more detail why is germany struggling so much with this problem well in terms of the internet there are various factors but one of them is good old fashioned german bureaucracy is there for example for mobile internet there is a great deal of regulation that means that if you want to have a new master example it can take up to 2 years if you want to improve the signal to an area you start on a long road that can take

a while whereas you know it can take less than 6 months in other countries there's an argument that there's also a lack of competition among mobile providers there are just 3 main providers here in germany that less than a lot of germany's competitors and there's a feeling that there's perhaps a lack of the competition that's required to drive up standards because the cartel than if it's only only 3 well i absolutely or that of the fact is that there are not enough of them pushing each other to cut costs and to try and improve the services because the cost of it's there in in germany also remains very high and in terms of broadband there's been a lack of modernization there as well for example telecom which still runs much of the infrastructure has opted to rather than install a hyper fast fiber optic cable to stick with the copper telephone wire that has been in there for decades and just slowly improve that and there's a feeling that that was probably short sighted. we do know that many german

businesses struggled to digitalize who's to blame for the us or the lack of good internet it's obviously a factor in that because you know if you want to improve your technology you need to have a good internet connection new technologies are acquiring better connections not worse connections there's also a suggestion that germany's corporate culture might be to some extent to blame for this thought doesn't encourage innovation so the traditional sort of set of a german corporation is this pyramid of management whereby if you want to if you're at the bottom of new if you want to get an idea through well you have to ask your boss just ask their boss who has to ask their boss and things of based on decisions made with consensus rather than people being allowed to act on their own and try things out and there's a feeling that that perhaps stifles creativity and so stifles digitalisation to some extent and also we can come back to your ocracy again if you want to call it

that i mean data protection for example germany is very hot on protecting people's data but one of the side effects of that is that companies tend to be wary of new technologies new software that might pose a risk to their data protection credentials so they tend to stick with old tried and tested systems so sounds very familiar what's being done about it well the government has got to act on this because it's already being used as a stick to beat them with in elections for example to the poor quality of connection in rural areas is something that the f.t. the far right party in germany has been using to to suggest that the government doesn't care about people in rural areas so the government is putting its money where its mouth is as such it's investing $100000000000.00 euros over the next 5 years to improve 5 g. to roll it out indeed and also to improve the amount of fiber optic optic connections around germany existed. you know that them 10 percent of germany's

connections are done through fiber and for a devout democracy that was it sees itself at the forefront it's not enough for the pathetic. thank you very much robots from deed of your business europe's largest lender just b.c. said that its profits slipped 18 percent to $4800000000.00 in the quarter missing market expectations the bank also warned of the headwinds though the bank has its headquarters in london it earns most of its profits in asia particularly in hong kong which has been crippled economically by widespread demonstrations since june that's affected many of hong kong small and medium sized businesses which are customers of ages b.c. . let's go straight to our financial correspondent charles to delay me in frankfurt so if he is there just don't breaks it or is that symptomatic for the whole

industry bracks it has definitely been an issue for h.s.b.c. they've they've mentioned it a few times the deteriorating outlook there but this is more of a a longer term structural problem for for european banks and for h.s.b.c. they're really getting hit by on all sides they are struggling in the u.s. with competition from larger banks they're struggling and china now with it with the slowdown and hong kong hong kong is now on technically in a recession they're also dealing with the fall out of the tensions with the u.s. and china but also the european problem is a big issue for just the sea they've talked about accepting their french retail business they're dealing with the slowdown and with with a negative interest rate which makes it really difficult for anybody to lend so there are now they're talking about you know in barking on the state restructuring program and if they're really underscoring the urgency for them. it's monday will

come we look forward to this week there is a lot to look forward to for investors this week today you ministers are meeting in brussels to decide on abraxane extension for the u.k. we also have a ton of earnings coming up here here in germany we have buyer volkswagen and deutsche bank which is going to be really closely watched because they're also dealing with this restructuring program in the u.s. a lot of big u.s. u.s. tech giants facebook alphabet and then to sort of wrap that up we have the fed on wednesday which is expected to cut rates and to the u.s. jobs report so a lot to look forward to. a busy week for you and me thank you very much charles the delay in france and now to some of the other global business news making headlines today french luxury goods group v.m. age has reportedly offered 14 point $5000000000.00 u.s. dollars for the u.s.

jeweler tiffany the financial times reports that the louisville we don't own up made the whole national office for the iconic u.s. company earlier this month tiffany is expected to reject the bid. space tourism is about to go public in a few hours investors can trade shares of virgin galactic on the new york stock exchange for the 1st time since its founding in 2004 virgin galactic has raised more than $1000000000.00 to develop a commercial service to take tourists to space. now law is big business in the northeastern u.s. state of maine the industry to build up a thriving trade with china the trade war between the 2 countries has caused exports to collapse canadian fishermen are seizing the opportunity while the u.s. is looking for new markets. maine is renowned for its rocky coasts

and indian summers a week or 2 of warm weather that often comes and fall when the brilliant hues of the leaves are a major tourist draw now the a delicate state up in the northeastern most corner of the u.s. has also become a battleground in the trade war with china lobster officials there are being hit hard by tariffs lobster exports to china are down 80 percent and michael libby is feeling the pressure. we had a good chinese market we shipped directly there we get these tariffs put up by a terrorist ad but they're sure they're buying our products from here because that is there's a terrorist from the chinese feel like red states for kind of frustrating. there's a lot of hands on labor in catching lobster like bathing the traps michael and his crew men have put out $400.00 today. but the industry in maine is strictly

regulated to ensure it remains sustainable michael has to measure every single animal caught and he too small have to be thrown back. they've caught around $500.00 of the cross stations today in portland harbor part of the catch and half with a distributor that packs the animals for transport around the world. last year the u.s. exported around 5 and a half 1000000 kilos of lobster to china this year it looks like it will only be around a 1000000. not long ago china raised the tariff on them from 25 percent to 35 percent bad news for business owners like tom adams. we need all markets it's a big industry it's a big business for the state and they are there to be other secluded from 2 major market places due to tariff disadvantages is really makes it that much harder for a business to thrive and grow. canadian competitors have now seized around 90

percent of the law. trade with china to make up for collapsing exports means lobster industry has to unlock new markets fortunately other asian countries like singapore and malaysia have begun to develop a taste for the product. as the trade war between the us and china drags on michael libby is now also seeking to sell as many of his lobster as possible to local restaurants. he doesn't get as much for them as he used to. but at least the beer at the end of the day is on the house. and that says for me of the business scene here in full. stories to check out our website the state of the. face of this. news is next here is a quick look at global markets at this hour. in

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