from the global tourism market for just a couple months now open again for business the damage has been done to its most important industry. business done a mask it's halloween but there's a ban on them in hong kong official confirms hong kong is in recession just as the tear gas is released again on pro-democracy protests is defying a ban on mosques this halloween. a new wave of consolidation in the car industry. to create the world's 4th largest. cut off from the global tourism market for just a couple months now open again for business but the damage has been done to its most important industry. business done a mosque it's halloween. but there is a ban on them in hong kong still that's not stopping demonstrators from joining in

celebrations at the same time is continuing their campaign to preserve the territories autonomy from china others are painting their faces officials say they won't force anyone to wipe off the makeup unless they look suspicious whatever the case the political turmoil is hurting tourism and trade hong kong is now in recession its worst showing since the global financial crisis course mystic products shrank by just over 3 percent in the 3rd quarter. 5 months of unrest and political uncertainty have piled immense pressure on the economy it was a way of reeling from the impact of the u.s. china trade war tourism figures added to the gloom arrivals in hong kong falling by hof it's not. on kong used to pride itself on being ages shopping in tourism capital. customers packed the malls and markets to snap up tax free goods and luxury products. but these days the tourists and consumers are staying away rattled

by months of democracy protests. to business has been very bad firstly no one wants to shop secondly no one wants to buy things even if we are selling something that's very cheap has no business. hong kong's economy has slipped into recession for the 1st time in a decade and it's set to shrink in 2019 with no end to the turmoil in sight the. images of demonstrators in hong kong are scaring away tourists this is especially true of mainland china for coverage plays up the rising levels of violence and avoids the democracy angle. whatever the politics the protests are bad for business . but still holds a cliff about this story 1st of all the reasons let's get is clear hong kong is in recession. these political unrest is not the only reason but it is

a big one isn't it it is i mean tourism is a big part of the economy there things are at the airport closing certain didn't help does a lot of people making investment decisions are going to be thinking twice about hong kong right now there's a strong suspicion of capital flight to places like singapore so there's a lot of very strong reasons directly linked to directly linked to the protests but on the other hand we also have broader concerns that would have happened anyway particularly the us china trade spot because hong kong is particularly sensitive to that given that it's always seen as the gateway to china. so that's been a big factor as well analysts have been telling me this is going to be going on for a long time and columnists i read today as saying that the economy could shrink all full quarters next year is it really that bad well it's been pretty extreme i mean i think that hong kong is incredibly flexible economy and it can move very quickly and it could also recover very quickly but given that there's no sign of any solution right now you can understand a certain pessimism on behalf of some of the analysts so what could hong kong do

well so far it hasn't really gone the stimulus route for example it they did introduce about $2000000000.00 us dollars worth of stimulus back in august but it could have you know it's got a lot more at its disposal to do but the main thing is it needs to find some kind of solution to this and until it really finds a solution its hands are tied in terms of getting the economy growing very very strongly i find it interesting that at the same time the u.s. and china find a solution either well that's right and we've had various upsets in that today as well be about where where they're going to to meet to sign a phase one deal we just had a tweet just before we came on from donald trump saying about how they will find a way a place to sign this and so maybe there will be something in sight but you know if we've said so many times at this point you know there's the back and forth with the with the u.s. china trade talks that are good and thank you very much for the analysis. well the race is on to develop electric cars and drive alist technologies and automakers at

teaming up to boost their prospects for chrysler joe have confirmed they intend to merge a $5050.00 split with its headquarters in the netherlands. feet chrysler is under pressure the italian american company has failed to invest in electric mobility its man brands chrysler dodge and jeep still rely heavily on older gas guzzling technology france's peugeot citroen is more advanced when it comes to technology but it doesn't have a big foothold in the u.s. that's why the 2 companies are merging and the french government which holds a 10 percent stake in. bucks the move. 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. after folks wagon toyota and then only

sun the merger creates a carmaker with global sales volume of about $9000000.00 vehicles are nearly. but the deal is not quite done discussions over the final terms and legalities have yet to be finalized and there are also potential antitrust obstacles. automotive analyst joins us from london and we've got lots of automakers working together on future technologies that are in the costs are obviously huge but which ones could merge besides fear chrysler and. well i think these are really the big ones that have been that play for a while now renaud needs to try and find a new partner or fix its relationship with nissan i think we have still open questions in germany it's going to happen with b.m.w. and mercy this is big enough to withstand all these challenges moving forward i think you know volvo kopassus and tom toss and checker landrover business they're

also you know both too small to really survive they're not generating cash flow decent enough to survive so there are a couple of brands but amongst the big ones we've now seen quite a bit of conservation john is dealing as you mentioned a board boliver bogen back in 2010 it's also includes a big stake in the states ben's parent deila will be driving the next round of consolidation you reckon but i think it is very clear. that they're busy building a significant global industrial empire having said that you know despite the really good turnaround of the vocal consciousness the business isn't really very profitable it doesn't really generate a lot of cash which is needed to finance all the r. and d. as you mentioned just before so i think over time you know gilly will look for larger more significant popular in the west just briefly on to reckon chrysler

pezzo are going to get the green light on this margin i do think so i mean it's a very friendly merger of equals i think the political opposition so far in france is very limited they put out a very small synergy number theory that implies very little risk truck sharing could be more but at the moment that's very little resistance and i think this will go at ending or thank you very much. heaven on earth is how the india region of kashmir appetizers to tourists but a recent tourism bad that india is now lifted has hit business hot in many sectors foreign journalists still on the lot in this report made possible only with the help of local purchases. srinagar in kashmir is known for its beautiful lakes. in the summer thousands of tourists spend their holidays here but this season the

boat owners don't have any customers since india put the state of jammu and kashmir under its direct control then they closed the region to tourism glamorous school has a little floating hotel his is one of about 900 house boats on the 4 lakes of srinagar job. tourists were all forced to leave kashmir and now they're not coming back that's our problem. is that who knew because it was. the floating hotels are usually booked on an online platform but that's not possible now mo bio and internet services are disconnected many families have lost their entire income vincent shearer and lisa martin heard about it back home in ireland they decided to help the people in kashmir by renting a house boat for their holiday. we decided to come because we felt that it was

important to support a region that was under a lot of pressure and. it has really suffered an awful lot with tourists not coming in the nearby mountains these indian tourists are enjoying the breathtaking view during the ride to the peak but they're the only ones here. there are 78 hotels in the village and all of them have been empty for the past few months and of course there is no internet or cellular services here either. would ahmed abbasi is the hotel's manager. the only thing he can do at the moment is guard the hotel. with 13 employees we pay their salaries and give them groceries but the conditions are so bad our employees have family and children where are they supposed to go the hotel owner is paying them out of his own pocket right now. the country region is

also known for its apples 75 percent of all indian apples are grown here but the farmers can only sell a small portion according to google mohammed 60 percent of the harvest is lost that's because modern communication tools don't work. don't have a telephone connection here anymore. and that's why we can't reach the buyers who take our apples. the indian government suggested paying a higher price for kashmiri apples to help the farmers but the kashmiris themselves are just waiting for things to go back to normal. and the fugitive financier who allegedly swindled hundreds of millions of dollars from a malaysian investment fund will give up his claims to almost a $1000000000.00 in assets it's out of a reported settlement joe has reached with the united states justice department.

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played. this is you know when he was live from berlin a chill goes through hong kong's party district for halloween police fire tear gas to disperse pro-democracy demonstrators and lawn twice following the protesters have taken over the party zone on what's usually one of the busiest nights of the year also coming up over 70 people die in a train inferno in pakistan on survivor c gas cylinder exploded when passengers were using it to cook breakfast. plus u.s. lawmakers are up.