you know what this time of course is what. 77 percent talk about the issues. from one party to flash from housing boom boom time this is where. welcome to the 77 percent. this weekend on g.w. . the federal reserve takes u.s. interest rates down another notch after its 3rd reduction this year the fed says it will think twice before lowering rates again. soul to be unfun at the fast lane to merge creating a comic titan valued at $15000000000.00. also today is

well savings day courage the virtues of the savings and thrift for households putting your money in the bank is it to say. this is d w business welcome the u.s. federal reserve has cut interest rates for the 3rd time this year the central bank float the benchmark rate by a quarter of a percent a range between 1.5 and 1.75 percent for you chaplain jerome powell has been under pressure from president trump to cut rates to 0 or even low up the fed told investors it would pause to reassess the economy before making further cuts. in his press conference after the announcement pollitz flame the thinking behind the decision it's. we do not.

later we go to our financial correspondent in frankfurt instead it. is stunning by the. rate cut did versus think the fed is done cutting rates. and that's really are skeptical for now going into this meeting the real question wasn't if the fed was going to cut rates that was pretty much expected it was how is your own power going to talk about the future cost for rate cuts and the current state of the economy he sounded pretty optimistic yesterday he talked about how resilient the economy had been he talked about lower about how the trade tensions were sort of abating and how that was sort of it making progress but i think for investors they are not really buying that at this point if you look at some of the market reaction of the bond yields were down quite a bit stocks rose to a new record the dollar was lower all of that is sort of a typical response the markets are pricing in a folder or interest rate cut another interest rate cut by next november so there's

definitely some skepticism about how optimistic how it's about of the economy i think going forward the really important questions are going to be how the data holds up and we're going to get a really key. data point tomorrow with the with the non-farm payrolls report we just expected just slow quite a lot. that's dylan in frankfurt thank you. a major new comic seems to be in the making feel chrysler has been looking for a partner for a while talks with renault nissan failed in june but now. in talks about a merger would create a true giant of the industry with a market value of $50000000000.00 and reports suggest persians board has already given the deal the green light. fee on chrysler is under pressure the italian american company has failed to invest in a lake trick mobility with brands like chrysler dodge and jeep still relying mainly

on older gas guzzling technology. france's peugeot citoyen is more advanced when it comes to tech but doesn't have a big foothold in the u.s. car experts and the french government which holds a 10 percent stake in peugeot therefore agree that a merger makes sense. you can see there we believe that getting stronger and becoming the 4th largest car manufacturer is the best way to protect jobs and to guarantee that we can compete effectively and fight for employment one point after folks back and try yoga and renault nissan the merger would create the 4th biggest carmaker in the world with a sales volume of about $9000000.00 vehicles annually. but some fear that the streamlining process could result in cuts at underperforming plants and superfluities departments this is const particular alarm at peugeot's german

subsidiary opel all the more so because both france and italy have said they don't want to see any job losses in various countries. now to some of the other global business stories making headlines today twitter will ban political advertising on its platform from november social media companies including twitter's rival facebook and the growing pressure to stop selling ads that spread inaccurate information or off paid for by forward governments trying to influence u.s. elections c.e.o. jack dorsey tweeted a political message reach should be at north port. boeing c.e.o. dennis miller in burke faced another grueling day in front of washington lawmakers tonight offering to resign in the wake of the grabbing of the 737 max jets which followed crashes in indonesia ethiopia that killed 346 people boeing's profits have collapsed since its key model was banned from flying. the world health

organization. for animal health is warning that no country is immune to the risk of african swine fever asia has struggled to contain the deadly virus which was 1st detected in the world's largest producer china last year it has since spread to vietnam cambodia and the philippines. now you might not have heard of it but today is world savings day it's been marked since 1924 and it's meant to encourage the virtues of saving and thrift for households and governments but is putting your money in the bank such a safe bet anymore for years risk averse germans have led the way as one of the countries where private citizens and companies have put the biggest share of their income in the bank rather than spend it last year households and businesses put more than 18 percent of their disposable income away for

a rainy day and that's well above the e.u. average where reason study shows one in 5 people doesn't save anything at all that's the german rate is 3 times that of the us where people only put aside about 7 percent of their income with a flagging economy in germany lower negative interest rates banks a new investment opportunities like crypto currencies would be better to start investing in other asses let's discuss that with your clever he's the chief economist at german lender come out spunky. york won't savings the nearly a public holiday for some of the thrifty or germans it is doesn't even make sense to save any more with interest rates near 0. absolutely yes interest rates are close to 0 this is true but on the other hand people still have consumption needs in the future when you think of the old age for for pensioners

and if you when you're young you have to save in order to have enough money later and people understand this and therefore the savings rate of private homes holds over the past couple of years has moved slightly and now stands at 11 percent higher than in most other european countries was saving might be a good idea for for many private citizens but what about the german government because either got the income e.c.b. chief said germany needs to start spending was to run well quite quite interesting of 4 for central bankers. to say this to an individual government but but anyway i think the german government spends a lot of money the share of german government expenditure as a share of g.d.p. has increased the problem is not the the amount of spending but the structure of the spending the german government has spent too much money on consumption and not enough on investment that's a leg of public investment and this has become

a problem for many companies because the infrastructure in germany roads he said this is in a better shape and this is a problem for me for many german companies so basically you say that the money has been spent music and some money too much money has been spent on consumption what does that mean in reality what is it in the money being spent on what was the social security in a broader sense ok. but germans coming back to private citizens why are germans so adverse to invest in equities. what. german investors in general are risk. difficult to say we have comes from we have a tough history i don't know where it comes from but it's a fact and therefore we are still missing in germany a kind of equity culture and this is a big problem because germans safe so much but they do not to take advantage

of this there are good german firms which are not of money which is reflected in good equity prices that means the german dax index for example you today is up more than 20 percent at most of the germans do not participate this is a big issue is that is the german public you know ready for a re education in that sense do you think that we one can reeducate the german. i think this is difficult but of course it would help if the government would adjust the tax laws for example because in germany you have to tax the full increase in share price if you sell or share price you have to texas why the v create a better treatment in terms of texas flex i think this could happen to incentive to centralize more german to invest more in equities which is necessary.

enough money for the for the pension age the argument thank you very much. thank you. nevertheless germany's eurozone neighbors and incoming e.c.v. chief christine lagarde as we. need to loosen its wallets to fend off a possible recession germany's public coffers are often described as overflowing keeping them topped up is so important to berlin it's even in the law but tax collectors have won the bonus talk the government may soon need to tighten its belt as tax revenue will start to fold soon solid growth low unemployment and yet modest government spending for long this has been the german government's economic mantra for fresh estimates suggest state coffers may not be quite so overflowing in the future. the government's expecting to take in $1700000000.00 euros less in tax revenue next year than previously forecast and over $7000000000.00 less by 2023

recent years have cemented germany's frugal reputation with the government making a balanced budget a cornerstone of fiscal policy that's something many economists are now calling into question that among them the new head of the european central bank christine legarde is secure. i'm saying that those that have the room from a new friend those that have a budget surplus notably germany and also the netherlands why not use that budget surplus and invest in infrastructure which currently needs investment contrary to what people say and why not invest in education and innovation to. legard is among a growing number of voices urging germany to spend more not just to spur growth at home but across europe. that's.

the be. the be. the bad

. hello and welcome to news from the world of arts and culture martin scorsese robert de niro and al pitino hollywood royalty together for the 1st time in the new movie the irishman also coming out the famous norwegian runs a car over canals gordon has curated an exhibition of edvard munch's works in

a museum. and in our continuing series baking bread. is making rope lidsky from the czech republic. bots we begin with a new martin scorsese movie the irish man which has a star studded cast like no other indeed rather unbelievably this is the 1st time that a triumvirate of scorsese robert de niro and albert chino have collaborated together add to that mix joe pesci and harvey keitel this has the potential to be quite a movie not only that there is something they digital trickery that is quite outstanding to see as well frank here because when i write yeah you serve. under the contract management can only fire driver in very specific charges so.

even a moving violation. you drink on the job. never hit anybody on .