who stay behind and sampling my husband went to peru because of the crisis. if he hadn't gone there we would have died of hunger. that was happening to them. just like stuart's journeymen 15 on don't. investors continue to worry as tensions between the u.s. and iran escalate over the weekend will markets are selling off oil prices keep rising and gold is that years long high so is this a passing storm or a bad sign for the year in trading. also coming up it may not have won so many golden globes but netflix is still gunning for awards gold and forcing the cinema and history to change a look at what that could mean for a theater near you. and manila's growing thirst for water threatens to wash out

villagers living upstream from a new dam project. this is your business report i'm stephen beers it's good to have you with us markets in europe and asia are down as investors response of mounting tension in the middle east a sell off comes amid the continuing fallout from the killing of iran's top military commander qassam solo monny in a u.s. drone strike on friday. worries about potential conflict in the region have pushed oil prices even higher after friday's gains this time more than 2 percent up that's a big concern for asian markets which rely heavily on the middle east for their supply but it hasn't all been doom and gloom news that washington in beijing my son a trade deal next week since shares in china up. and let's check in now with our financial correspondent in frankfurt chelsea delaney and chelsea how is the outlook there in frankfurt. these tensions are certainly driving markets today that docks opened about one percent lower that's really steep and throughout the day

it's down about 1.8 percent now euro stocks the broader and exit european stocks is also down about 1.2 percent that's adding to have you losses on friday as well it's investors are certainly concerned one of the big concerns for investors is what's going to happen with oil prices oil has risen about 5 percent since friday and that can be really painful if it continues for companies for airlines for consumers as well especially for big oil importers like china has already struggling with economic weakness so investors are certainly going to see wait to see what happens next with iran in the u.s. but this is definitely not remain a concern for investors. right you'll see the lady in frankfurt thank you. let's take a look at some of the other global business stories making news. japan's justice minister has vowed to strengthen border checks after nissan's former chairman carlos ghosn managed to flee the country while awaiting trial for financial

misconduct goan who's now in lebanon has criticised japan's justice system for taking too long and being in humane the details of his escape clear. experts say australia's bushfires are likely to have long term negative effects on the economy but he turvy tourist resorts say they're faced with a large areas of farmland and agricultural facilities have been destroyed insurance companies say they've already received thousands of claims. one of the technology world's biggest gatherings gets under way this week in las vegas organizers of the consumer electronics show say tech spending is getting a boost from things like wearables smart devices and streaming media services they say it should hit record levels in the u.s. this year. and speaking of streaming services netflix sees itself as the future of cinema but it failed to make the impact expected at sunday's golden globes and hollywood streaming service had led the way with 34 nominations across t.v.

and film but only managed this for 2 awards best picture was won by universal sam mendez production 1970 netflix is the irishman marriage story ends the 2 pope's h.b.o. won the battle of the t.v. production companies winning 4 awards including for its historical drama noble. and business reporter rob watts has been looking into this for us and he joins me now live in studio rob so netflix has been nominated as nominee for 34 of these golden globes i believe it won oscars last year it has directors like scorsese working for it there's been all this talk about a best picture but does it really need to prove itself well you know it's only a year ago that steven spielberg was saying that netflix had no right to be at the table with its films and then it really showed him by winning the best picture oscar last year no netflix doesn't have a great deal to prove it is now nestled itself in among the traditional production

companies in both the film and the television sectors that have 17 nominations in each of those all of this just 6 years after it started producing its 1st content and only just over 2 decades since it 1st started mailing out films to people in the post which is how i 1st came to learn about nothing as a guy ok so is there any evidence that moviegoers are changing their patterns and going into the theaters less often because of netflix well i'm we can only look at the figures. of ticket sales particular in the u.s. there's a nice edible figures and we can see that no real evidence that netflix is stopping people going to cinemas in fact cinema going is reaching record levels each year there is cause for concern for cinemas though because of a precedent that netflix is setting for example with the irishman this martin scorsese right robert deniro piece that was only in cinemas exclusively for less than a month now cinemas for years have enjoyed having films and being the only place

that you can watch them for maybe 3 months before they become available anywhere else this film is available to netflix streaming customers within a month meaning people didn't have to wait as long as they did thank you they may be put off their visit to the cinema without seeing evidence of that happening yet because we've got a very small sample but if that expands as a broader model to the film industry then cinemas may have a reason to start wearing in that case those because scorsese's film was made by netflix right and so they had the leverage to say where they wanted it to be year if they how long they wanted to be in the theaters yeah absolutely and they had complete control over that in fact you know that one of the the big places that they put it on was a cinema that they owned the paris theater in new york or i have to ask the top 6 grossing movies of all time or i'm sorry of the last year were from disney. spider-man 17 or 18 being released directly to disney's streaming service instead of the movie theaters if you got

a good point because we got disney plus coming out. well you mention that these are the 6 biggest grossing films and that's kind of the point they are making huge amounts of money through theater releases so it seems unlikely to me that they would stop doing that there's also you know a broader culture rather around these sort of releases as the whole tradition is come in some families taking the children along or doing the young adults the big children along to the cinema buying the merchandise dressed up as an avenger. exactly there's a broader culture about it's up a surprise that we're seeing that happen but with netflix setting these precedents is why not all right it's hard to dress up as your favorite star wars character if you're just by yourself at home watching it on disney plus or netflix rob watts business joining us in studio thank you very much. let's go over to asia now rain has been scarce in the philippine capital of manila lately and that's threatening the city's millions with a of residents with a water shortage now

a new chinese funded dam project in the nation's north could help ease the pain but advocacy groups say it will also displace 25000 additional people and destroyed many hectares of forest land or porridge and. since this report fears the country while river has always run through the share of modern mountain range in northern philippines and a controversial dam project could change its course forever. up ahead is the plan construction site for the can you walk down and all along the forest while you're at a big tunnel will be built and you have to imagine that all around us will be submerged under more than 60 metres of water washing away communities like this one the village of see. is closest to the dam site here the indigenous dumaguete people

have lived alongside peasant farmers for generations signs opposing the down a bound. he said. i don't agree with the day. especially if it's going to destroy the sources of our income. crops and our coconut trees. but if they build the down at the expense of our families livelihood. it may well serve others. but what's about to pass by. the dam is meant to secure water supply in manila the capital 40 kilometers away. the greater the matter of my the ladies the serious mother we cannot. meet the groping the about through those beasts. really what. philippine authorities argue displacing thousands is worth securing water for more than

$12000000.00 people and worth a controversial loan from china of more than $200000000.00 critics say less damaging and cheaper alternatives like smaller dams were ignored as was due process . any good coming out of but. some were insisting on the law according to the indigenous peoples rights act. the president to tear to should have gotten our free and informed consent. before he borrowed money or entered any kind of agreement with china. or. gotten into a 7 sound plane that the government has vowed to use extraordinary powers to force the project through many fear the loss of a way of life in accordance with the rhythms of nature and protective of the environment. that i'm old what about my grandchildren and their children

where are they supposed to live what if they relocate us to manila how do we survive when we're not used to life there. here in the share a modern mountains of the stage is set for an ever recurring impasse between the desire for preservation against others insist is progress. and a reminder of our top stories markets in europe and asia are down as investors response and mounting tension in the middle east a sell off coming amid the continuing fallout from the killing of iran's top military commander qassam solo money and a u.s. drone strike on friday also the world's biggest consumers electronics fair c.e.'s has begun in las vegas and netflix earning $2.00 oscars a true 2 golden globes rather in its continued push to change the movie industry. i'm saving beardsley in berlin thanks for watching. it's.

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what secrets lie behind is one. discover new adventures in 360 degree. and explore the mating world heritage sites. t.w. world heritage 316 get me up now. this week on world stories. will's flight from rising sea levels. nigeria street children dance into the future. we start in peru at hearing to age old traditions the route live on artificial islands in lake titicaca but now one young woman has decided to break with tradition and people are following her footsteps lake titicaca impure room 1300 kilometers southeast of the capital

lima are the models floating islands home to the indigenous people who once rescue themselves from the warring think us and learn to adapt to the harsh living conditions of the andes highlands to this day they have preserved their culture and traditions but money is so anya was born on this island. that every morning a money a gets her children ready for school then having her children develop social skills early on is her way of preparing them for the future. so i didn't get the chance to play with other children and learn that a lot that was nino's that's why amalia decided to become a teacher and start up a school in her village.