in support of. the debris of. europe's biggest luxury group puts a ring on it leave a ton parent company l. feet and h. buys american icon tiffany for a chunk of cash so is it a match made in heaven we'll take a look. also on the show a new debt relief measure could give millions of south africans some much needed breathing room but could it also drive them into the arms of loan sharks. this is your deeds of the business report i'm stephen beardsley in berlin thanks for joining us french luxury goods giant l v m h is set to purchase u.s.

jeweler tiffany analysts called a deal win for both companies tiffany has been trailing rivals in sales growth for years and l v m h hopes the deal will boost its presence in the united states the 14700000000 euro deal will be elvie m.h.s. biggest acquisition to date a luxury brand as american as skyscrapers now to be taken over by l b m h a luxury group so european that most people have trouble pronouncing its full name u.s. jeweler tiffany is one of america's few luxury brands it's a bit old fashion and is looking to gain some credibility with a new generation of customers. paris based l d and h. believes it is just the owner to manage the transformation it owns a portfolio of $75.00 fashion houses and upmarket brands it tightly controlled the image and distribution of a range of products to keep them profitable and aspirational now the mh had

revenues of nearly 47000000000 euros last year most of it from its leather in fashion division with brands like louis vitol and the your it's luxury department store holdings are nearly as big tiffany will fit into its watches and jewelry division currently one of its smaller units although they may continue to grow organically i mean these are hoping the brand. new way to keep on growing is of course to acquire and significant company. the mh says acquiring tiffany will transform its jewelry business and strengthen its presence in the united states as luxury shoppers in asia are hit by the global slowdown. and for more on this let's go now to our financial correspondent and new york ian's korda yens a 182 year history as

a luxury brand so what does tiffany get out of this deal. well what trophy is hoping to achieve to actually hit the market also with a younger clientele and you mentioned it's 182 years old i mean the stores are not that old but still some of their revenues need some refurbishing so that does cost some money and wall street is impatient with being bought out by. the n.h.l. they pronounce it over here that means they get some time to actually get the new strategy going was having to publish quarterly results and then getting the share price under pressure and also recent need they had a little bit of a growth issue abroad and also in the united states and always the expertise of the french company they're hoping to get back to better times.

14.7000000000 euros this is their biggest ever acquisition so what is the company hope to gain from the takeover itself. overall the luxury market is red hot and that is also true for a jury and that's one area where the french company did not have such a great expertise besides. investments in. other companies but tiffany's they were really enter seriously the market for. jewelry and we've seen it the stock price of tiffany's was up by a good 6 percent here in the monday's session and also the reaction on the french side was positive at least for now. or a quarter or luxury goods expert in new york thank you. and over to the u.k. now where london has refused a new license for it's a major blow to the ride sharing platform regulators say the decision is based on

safety concerns has been accused of putting passengers at risk with uninsured drivers but the company has faced other opposition notably from drivers of london's iconic black caps. free biz 3 and a half 1000000 users in london this decision's been a long time coming the refusal to give a new license to the right hailing company follows 2 years of argument between and regulate is now transport for london says enough is enough. just the city's mass as has been failing to protect its customers that there are at least 14000 journeys where somebody using a house thought the person driving them was one person but if i was being somebody else they have also been examples where drivers who've had their license suspended or dismissed have been allowed to continue to be a new driver the the series fails he rejects the claim it's unsafe saying it's vetted every one of its 50000 drivers in london drivers like ilia he fears the loss

of his main source of income. will be very bad but. awful if all all all all so we have all drivers for drivers so. probably one of. 4 saw the car go so all the little. master counts as drivers should reserve their anger through brit self for failing to improve its systems the news comes as a boost to london's famous black cabbies who would potentially see a major competitor driven off the road as for other london as if you get rid of we've got something else just go off straight into their stats anyway i say this doesn't mean that it's a massive issue i think that driving the rush to the bottom the not really helping anyone really works very well to be completely i think it's a shame find they need everyone they know is a. has $21.00 days to appeal against the decision something it says it will

definitely do. it out of some of the other global business stories making news. the u.s. state of texas has dropped its opposition to the merger of mobile phone companies sprint and t. mobile usa announcing a settlement that would stop them from raising prices for 5 years 14 states and the district of columbia are still planning actions to block the $26000000000.00 merger . new figures show mexico fell into recession during the 1st half of the year vies data showed the economy shrank before flat lining in the 3rd quarter figures come one year after president under arrest manuel lopez obrador came to power promising growth. over africa now where personal debt is crushing south africans a new law the national credit amendment is meant to ease their plight by offering debt write offs the banks are against the measure saying they'll be forced to cut

back on living for low income borrowers and that that in turn could drive credit seekers to seek less scrupulous alternatives. private lending in soweto is dominated by a network of illegal known shocks known as smash and he says they challenge interest rates as high as 50 percent mountain 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 so. now whenever she needs extra cash she has to come here. having to go into this like borrowing money like 1st we know it's illegal but . you don't have a choice in things don't always work out doing one thing to. make sure they need to do the 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 and places 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 you take the t.v. something that will. make. you demand big big. then you just don't get my money it is not. unique then and so whatever i talk to recover. 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 cask vaadia believes the bill will do anything but bring relief he fears it could cost banks up to a $1000000000.00 euros and ultimately deny the poor access to formal credit channels . if either expand it obviously there's a cost to the bank and the bank to pay that and that's what brings a risk into the system that is what brings on certainty into the system as a result of that bank for a contract that ended in that particular market so. the brand is a really boring by the low income borrowers 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 mesh and he says marvin the good he hopes it will be implemented soon. so we could be in case it could be such a relief but we shouldn't be too quick to state for the pings. it 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. that's a process that's watching. some

of them and now mostly affectionately but as affectionately as you can. be content in the middle of his election campaign. 2000 documentary was filmed for russian television to turn the camera back on of course the film secretly chronicled the power grab of actually everything was precisely planned instruction . featuring a top supporting role. to the freedom of russia. and

featuring a lead role like you've never seen before. but i'm here for that a marriage to the ends justify the means. to tim's witnesses starts december 13th on w. . to go to the girl next new to china. the gold mine of stories. with exclusive. the must see concern. culture to your a. place to be for curious minds. do it yourself networkers. so subscribe don't miss out. there wells calculable. their egos insatiable. their rivalry

deadly. 3 princes. only dream of the arab world. the wife of princes of gold starts november 27th on the g.w. . greetings from berlin and a warm welcome to arts and culture and a dramatic start to the week as burglars broke into one of europe's largest collections of baroque treasure in eastern germany making off with diamonds and jewels and so we'll have more on that and also on these stories. the one and only tina turner revered by many as the queen of rock n roll turns 80 on tuesday so we'll pay a tribute. and we dive into the impressionistic 1st novel of turkish german

author in nina save the mom about the lives of girls and women in rural turkey in our continuing series 100 german must remain. well the green volt in the german city of dresden is the historic treasure chamber all of the saxon kings it got its name thanks to the molokai green painted columns in some of its rooms and it houses some $3000.00 precious objects made of gold silver ivory and jens after world war 2 the russians carried much of it off to moscow but the saxons worked very hard to bring the entire collection home and now after a break in early on monday some pieces have gone missing again. at around 520 on monday morning the emergency services were called out to a fire and a power distributor investigators are now examining the possum.