cold. there before our own bliss ambition is to go east into a great crisis. the life of the gulf shores nov 27th on to you don't. hear anybody. talking about putting the shine back on the high end jewelry market louie vito moya hennessy by stephanie for $16000000000.00 u.s. dollars is it a bling bling match made in heaven we ask our financial expert also coming up the leader's office as the member states meet named busan to discuss closer cooperation and south korea's new start up policy. on the south africa's credit amendment bill aims to solve the country's credit crisis by providing debt relief on

a large scale that actually drives millions of people into the arms of low shops we tell you why. he's welcome to do that in a business like a johnson villain good to have you with us now french luxury goods giant to l.t. and age has clinched the takeover of u.s. jeweler tiffany the 16200000000 dollars deal will be l v m h is biggest acquisition to date the takeover represents a win win for both companies many analysts say the tiffany has been trading rivals and sales growth in recent years and age hopes the buy will boost its presence in the united states l e m age is owned by francis richest man nor its fashion division includes brands like. dior and can so its watches and jewelry section comprises boulger e toys ileum age is also represented in wines and spirits by more and shown the door and is also active in the hotel this. this among many of the goods. is l

b m h and tiffany a marriage that's made in heaven as. a man in frankfurt well 1st of all what does this kind of gigantic deal tell us about the state of the luxury goods industry as a whole well tells us that the luxury goods are also being affect the by the economic slowdown in the world especially in the case of luxury goods makers the economic slowdown in china because many luxury goods stores today depend to a good deal on a lot of chinese tourists with big wallets willing and able to spend in their stores i can see that here in frankfurt where we have a lot of luxury stores and you have a lot of business through tourism some stores say they couldn't survive without that kind of money and tiffany's also is feeling the pinch from chinese tourists in

america spending less at their store there also online is competition for even the luxury goods makers and many people who want the brand but don't want to spend the money confined secondhand purchases online so a number of trouble areas there for tiffany's which makes make it an object for l.v. m h to gobble up a marriage perhaps not of made in heaven perhaps it will turn out to be but certainly one of necessity ok usually when you marry a lot of people do they then share one name will we have to rename the classic breakfast at tiffany's to breakfast at l b m h. no i think it would be in the french groups this interest to do that they would be ill of ill advised to do so because what they're buying is the tiffany culture the image their reputation and they surely want to keep all those stores the flagship store and fit that new head of all the others where

incidentally you can have breakfast in maine lobster 2. in frankfurt thank you so much for this. asian markets got off to a good start into the new week the hong kong exchange surged 1.8 percent following news pro-democracy connotates headed for a huge win local elections chest got another boost on the news that beijing offered an olive branch in the long run in china u.s. trade talks over the weekend beijing announced it would hike penalties on violations of intellectual property rights the ip issue has been a major sticking point for the united states in the talks and agreement on its is seen as key to their success. meanwhile the summit of the association of southeast asian nations has kicked off in busan a summit is hosted by south korean president and brings together the leaders of the 10 member nations those are brunei combo indonesia allow us malaysia myanmar the

philippines singapore thailand and vietnam the moon administration has unveiled a so-called new southern policy which aims to boost economic cooperation with india and to as you countries. and frank smith is impose on following the asean summit there for us from the summit kicked off today what's happened so far. well they're saying a couple things here in the region be bullish on this region and let's make a deal in a strike a free trade agreement with indonesia negotiations had been stalled for for a period of 5 years before they restarted again shortly after he took control of the country and also they're looking at free trade deals with malaysia and the philippines we've got to remember this is a different than 30 years ago so 3 is celebrating its 30th anniversary of relations with us yet they are also celebrating

a 20 fold increase in trade to $160000000000.00 and a $40000000000.00 surplus here for south korea there were a lot of side of in school and here a c.e.o. exploit startup expo. expo a beauty expo a smart expo but there were also in the back of these larger sort of displays there were $225.00 businesses $500.00 business people getting together in small moods showing each other's products called a sourcing fair where you had products their representatives showing off their products to purchasers on the other side of the other side of the table and in other countries around the world not just this region including japan and things i saw countries represented like lithuania and romania so really a lot going on our terms of snakes on a deal as well that it's

a lot of business going on across the region and south korea is interested enough in advance of so-called new some of them paula see how has that gone down with member states what it's all about. well it's going down pretty well with with a lot of people here i sat down for just a minute or 2 with global investor jim rogers and he said this new southern policy 2.0 they call it makes kind of sense because president plan b. and c. or having trouble that's with china the u.s. and japan so it only makes sense for so 3 it to try to diversify its market toward . all right frank smith reporting from the ask in summit in busan thank you and now to some of the other global business stories making news. tesla has received nearly 150000 orders for its new electric pickup truck despite an embarrassing launch last week the much hyped unveiling went off script when the

cyber trucks windows splintered twice just. bragging about the strength of the vehicle class as the share price fell 6 percent after the launch. while disney's frozen 2 opened this weekend with the highest grossing debut for an animated film bringing in over $350000000.00 worldwide according to studio estimates critical reception to the continue to ventures of sisters elson anna has been very good but not as good as the original which won 2 academy awards. and imus on his opening a pop up store on chinese e-commerce platform a pin dual jewel age will offer a around a 1000 overseas products i'm somehow struggles to gain a foothold in the world's 2nd largest economy it closed its marketplace there in july e-commerce in china is dominated by home grown players on the baba and to j.d. dot com. south africans are being crushed under the weight of person of debt national amendment bill is meant to ease their plight by offering right off the

banks are against the bill saying it'll make it harder for low income people to find credit in the future. private lending in soweto is dominated by a network of illegal loan sharks known as mash and he says they challenge interest rates as high as 50 percent. mother mcgeady suffers from a chronic lung disease and urgently needs money to see a doctor. the 42 year old racked up substantial credit card debts and then lost her job. and now whenever she needs extra cash she has to come here. having to go into this lake borrowing money like 1st we know it's illegal but . we don't have a choice and things don't always work out do we went into crystal had made sure they need to do from different. most mashonee says are not evil criminals preying

on the vulnerable they often live on the same street as their customers and provide easy access to credit when cash is needed without the lengthy application process required by formal lenders. sisters emma and place it you can end our business partners who usually of 1st small loans ranging from 10 to 100 euros now. they say lending money is a risky business. it sometimes calls for tough action if the loan is not paid back . then we take the t.v. something that will. be made into them and that will be demanding that the till. then if it's still the money is not brought back to me then i sell whatever it took to recover maybe. their business may see more clients in future now that the controversial national credit amendment bill has been signed into law it will

provide debt relief to those on a low income. but managing director of the south african banking association koski vaadia believes the bill will do anything but bring relief he fears it could cost banks up to a $1000000000.00 euros and ultimately did not lead the poor access to formal credit channels. if either expanded obviously the cost of the banks and the banks pay that and that's what brings a risk into the system that is what brings uncertainty into the system as a result of that bank or contract. in particular market so. the brand is a really boring buy of a low income borrower more than anyone else. credit institutes have already announced that they will toughen credit regulations for the income customers. however while the legislation may push many into the arms of mush and he says

moderately good he hopes it will be implemented soon so we could be in case it could be such a relief but we shouldn't because existed for the pings in one. is tough really tough for most of. the national credit amendment bill is set to be fully effective by january 2021 which gives banks plenty of time to negotiate with the government and potentially make it palatable. and that's the business thanks for watching.

good luck. to sift through need to keep. the ball both for over a match at home the 4th time flew the most recent at the combine looks rather nice the bottom of the fannies at the last dragon this word has called the home for me. to go green but. i'm not often out of the jam i guess sometimes i am but most end up in which the german thinks deep into the german culture of looking at stereotypes quietly or think the future of the country

that i not. yet needed to take for this drama day i am you it's all about. bach no i'm a joke join me for me to jam from d.w. . post. this week on world stories. a new home in germany vietnamese anything's. floating cow stalls in rotterdam. and we begin in hong kong where pro-democracy demonstrations continue. to find out how the protests are affecting relations between ethnic chinese and the city's south asian community. didn't charge away the southern tip of the quaalude peninsula is one of the cars

but favorite places in the area is one of the hot spots for hong kong's ethnic minorities about $250000.00 on chinese citizens live in the city most of them from britain's former colonies in south asia at the center of the community the chongqing mansions a 5 block concrete jungle from the 960 s. although quite far from his home because comes here quite a full basically there are many allow for which is available in here for just like snacks and fresh to cook to me and lots of things are billable in here that are not quite available in the elements in society but 2 weeks ago uma suddenly spread that the protesters were planning to attack the trunking mentions the protest leader had been badly beaten the attackers were said to be south asians most probably hired thugs singh has had a shop there for 25 years.