and the news has made huge waves tesla's new facility could bring 10000 jobs to berlin that's coming up next in business news recovery a stick around the rest. will go to the girl next new to china. the final story. with exclusive. and a must see concerning arts and culture in europe the place to be curious minds. do it yourself networkers. subscribers and don't miss out.

in a puzzle yourself by a long it's not easy to go to another country you know nothing about why folks do this because we can't stay on its way in a. way that. closely global news that matters d.w. made for mines. tesla chooses berlin for its new european factory c.e.o. elon musk says german engineering is the main reason but his big european competitors will now be just around the corner what does the move mean for tesla and berlin. and markets listen then as the u.s. federal reserve chair paul speaks before the u.s. congress with few surprises the path where interest rates in the u.s.

will remain unchanged. for business on the w m how you come to the program it's an announcement that took germany by surprise the country is set to become home to tesla's next factory in the outskirts of berlin c.e.o. elon musk made the announcement claiming he chose germany because of the country's reputation as an engineering giant he was to say people here are excited amid the intense competition over which region would get to host the premium carmakers facilities and at thousands of jobs. the setting couldn't have been more apt clutching his award for the tesla 3 the lawn must drop his bombshell. we've decided to put. the gigafactory europe. his announcement left even the present to last 2 words. tell us what's your biggest factor is the word and the man serious the 1st european tesla plant is expected to

create at least 7000 jobs a peek into what the future may hold can be had close to shanghai where tesla's least enough land to encompass 120 suck of pitches. the shanghai plant is expected to turn out $500000.00 cars a year the complex was built in record time barely a year. it's also that prestige germany and the berlin brandenburg region won out against a lot of stiff european competition. this contract is important and good news for germany on the one hand because it creates secure jobs for the future here on the other hand because it also gives germany's international credentials as an automotive leader a boost and it also comes at a time when we're on the cusp of a new era of electro mobility and battery production. and. the new plant could be located here can hide a small municipality east of the capital berlin it already boasts good industrial

infrastructure construction is expected to get underway within only a few months. that's a pace that brings jobs to the region i'm all for it the space is there highway connections are there it's fine we have to see what actually happens though b.m.w. once planned a project here but nothing came of it. and i think it's really super because it means new jobs i think it will give the region here a huge upswing i've got my fingers crossed and hope the plant does actually go ahead tesla's plan is still only a declaration of intent and the notion that the new model y. compact s u v complete with its batteries could be rolling off the production line here by 2021 is quite an ambitious one. or one of discuss this a little bit further for that i'm now joined by. our expert at the work business school thank you very much for joining us mr stoddart i'd like to ask for your initial thoughts on this decision is germany and specifically berlin truly the

right choice. yes i think it is a good place as. pointed out himself there's a lot of expertise in it making cars in germany is probably one of the most. biggest potential anyway and europe to start these factories so yes it's a good location what about britain that would also be a natural choice and also be a good location i know that tesla had i had to making at least the research and development facility in the u.k. in the past what happened with that is bracks that of course one of the reasons perhaps. a death of the toledo mosque set yes so i think it's plausible yet at the uncertainty here and bracks it which a lot of the car executives here tweets from germany but he's leading jaguar land rover among them probably one of the most outspoken ones have pointed out again and again that for the car industry is a real nightmare and you know it must draw the conclusion that britain is probably

not the right place at this point in time to start any facilities producing his tesla's now tesla will be here in germany and that means some of its most important competitors will be just around the corner that walk us through the current moment for the auto industry in germany specifically and how tesla will mix in with its competitors. so that many of them on in a transition towards election mobility the ones that like you most the faced with competition the premium car make test lace 506-0000 or so so we're talking received his b.m.w. and out he who are most sort of in the i of tesla as well for demo if probably been betting a little bit more bit more on a combination between judicial engine and electro mobility it it could beat it. in

the great fostered in focus also an equal billing where. if that is picking up strong in the market and last but not least there's not only the electric aspect of it but also self driven cars tesla is a big player there what about german car makers are they and the level playing field there. i think actually some of power pretty good for example have made good advances imo so i want to give a bit of word caution here the impression that sort of in a couple years from now they see self driving cars all around i think debts that's an illusion it will take a while until your decision happens and it also 'd looks more and more like it's a step by step process we at cars get more and more autonomy right in the switch overnight and in this more and more tommy kind of game i think the german car manufacturers are not in a bad place i'm optimistic

a long road ahead there thank you very much chris inside at work university for the analysis. major u.s. stocks ended the day up after a federal reserve chair jerome powell told lawmakers the central bank is likely to hold off on further interest rate cuts powell was up to mystic about u.s. economic prospects he expects a solid growth pace despite risks from slower global growth and tensioners pauwels remarks kicked off 2 days of testimony by the fed chief in front of congressional panels has been particularly household sector and our financial correspondent on wall street feels that way as they are all has been following plywoods remarks for us and we said good to see you again well of course investors are listening closely when it comes to the future of the u.s. economy how did powers words go down on wall street. pretty well how we are no surprises at all from french chairman who basically gave fodder indication that he is unlikely that we will see an older interest rate move these year and even in

2020 dismiss a chance and now very much in line with the market spectate shin's going forward either way we do need to know what will happen with trade talks and with china as the wall street journal reported the big easy has a 10 to compromise on a specific number of us i would call to all products to buy but as i do your term research will touch more extensively on debt sustainability downside risk for longer term growth associated from high federal debt levels here in the u.s. now has a reason let's talk about one particular topic that is of interest for many all eyes where on disk me after the introduction of its streaming service disney plus what can you tell us of its performance is this a dream come true. i'm going to quote a dumble here we have here and say don't just sort of so what does this talk has been doing on wednesday up 7 percent reported that the wrong 10000000 people have

already signed up to the streaming service is an astonishing number even if we take in consideration the outrageous experience on the plus what can you tell us of its performance is this a dream come true. i'm going to quote dumble here we have here and say don't just sort of the one thing this talk has been doing on wednesday up 7 percent reported that are wrong 10000000 people have already signed up to the streaming service is an astonishing number even if we take in consideration the outages experienced on tuesday sign ups that it's not equal subscribers but so far it seems these new plans these are only 2 way all becoming one of the most popular streaming services in north america. up to $90000000.00 global subscribers in the next 5 years but it still needs to catch up to netflix which

currently has around $162000000.00 subscribers worldwide disney plus becoming the elephant in the room for streaming services thank you very much in new york. now to some of the other global business stories we're following for you at this hour at the dubai motor show virgin hyperloop one is showing off one of its passenger pods which will one day rocket along at up to 1200 kilometers an hour virgin said recently it will build a 35 kilometer test track in saudi arabia a track between mumbai and pune in india begins construction next year. reports say e-commerce giant ali baba is poised to launch a hong kong share sale expected to raise over $13000000000.00 the listing will be seen as a boost for hong kong which is in its 1st recession in a decade as months of street protests and the us china trade war take their toll.

brazil's president jalal sonata once decried china as predatory now he's welcoming president xi jinping to the brics summit in brussels presidents of brazil russia india china and south africa are holding a 2 day meeting there which is expected to be a low key affair with technical discussions. and before we go for all of you who can't get enough of starbucks coffee well you can now take your addiction to the next level the world's biggest starbucks branches opening in chicago this week the 4 story building is a fully functioning grocery as well as a cafe a coffee beans are sent between floors through transparent to customers will be able to sample where coffee is from around the world through various brewing methods a massive coffee shop will employ around 200 people. and that's all for this edition of business i'm going to go read

a coffee you can stay in touch on our website you w dot com slash business for more on the festival thank you very much for joining us today but.

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this is did everything is africa coming up in the next 15 minutes king of the. the answer to that has become ever more relevant in uganda's to present day politics it might be a decider in the country's next election need that 170. 1 piece in the ghetto. and work for your people to bring them to bring them in our government program together you're. also coming up on the program from the foods we eat.