of the retaliatory attack suggests there's room for deep escalation. tesla's plan to get a factory outside beilin is already making waves germany's legacy economic is now also one of the piece of the new incoming class. outside of burlington this is a business asia on the wu update on the asian and global business news. carlos gomez made an explosive 1st public appearance since fleeing japan where he was awaiting trial on corruption charges more than a week after his dramatic escape from japanese justice the former chairman of miss sun told journalists in beirut that allegations of financial misconduct against him were untrue and that he should never have been imprisoned he called his treatment a travesty against his human rights he was prosecutors of trying to force a confession threatening to go after his family to let's listen in here's what he had to say earlier i was presumed guilty before the eyes of the world and subject

to a system whose only objective is to course confessions secure guilty pleas without regard to the truth. i have come to learn that my unimaginable ordeal over the past 14 months is the result of a handful of unscrupulous vindictive individuals at nissan. and walk into law firm with the support of the tokyo prosecutor office let's go straight to buy. a really from a by route studio is standing by will you watch that press conference what impression did you get from callers going that. in fact i'm at the press syndicate where the press conference taking place right next to me on my left the press conference taking place right now so it's all the years. it's.

like no hugging this press conference it's just right now. it's obvious that you want to say it all his own story and according to my sources from some. of the but he's also he's. legitimacy or. you but he's also that if they told me that i could be. there one of the major amendments to the debate yes president and they discussed this issue with the presence of the head of the general general security general. by his french passport. and according to the security system there is completely i mean there is nothing to be. able to do any kind of legal actions against citizens that's why he's having this press conference right now in the next room

because go on has said in that press conference earlier that it's all a conspiracy conspiracy by japanese prosecutors aided by vindictive pettiness and stuff did he offer any proof of that. the moment i left the press conference he didn't but lots of us get a big screen on his right and it seems that he's going to show some graphics or some odd points and from maybe some documents to this press conference. from the studio in beirut on this developing story thank you very much purcell thank you. turning to our other top story oil prices briefly spiked in response to iran's retaliatory attack to you on u.s. forces in iraq they settled later in the morning but remained up from tuesday's

levels the price of gold the swiss franc and the japanese yen also rose on the news as investors soar safehaven made the growing tension in the middle east boards of the attacks and speculation about possible u.s. responses also send says across asia down into the trading this president will trump is expected to give a statement about the attacks later on wednesday. the escalating conflict between iran and the u.s. also has all producing nations worried theoretically iran could put a dent in the region's exports by closing the strait of hormuz for example 20 percent of the world's oil supply is being shipped through that waterway because it's unclear how far the 2 sides could go uncertainty is widespread. the united arab emirates is keen to assuage fia's oil supplies said the country's energy minister i'm not on the stret that's not. what is what is what is happening the it is you know. this that we have

seen through the state of the movement of. the straits of wholeness is a waterway between iran and the u.a.e. iran uses it to transport oil as do many of those saudi arabia the united arab emirates kuwait iraq and. in fact around 20 percent of the world's oil moves through the strait which aim places is no more than 4 kilometers wide iran regularly threatens to obstruct the channel several oil tankers were attacked last year with iran suspected of being responsible. then in september saudi arabia's largest refinery went up in flames again all eyes fell on iran it rejected the accusations but tensions are clearly heightening this is definitely an escalation among. the united states which is an ally. and

india on. which is a neighbor well when we like or don't like the iran is a neighbor we are already close to iran and the last thing we want is a is another tension in the middle east the u.s. is unlikely to have many concerns about oil supplies in 2018 president donald trump announced that thanks to fracking the united states was no longer dependent on oil imports from the middle east. let's get some perspective on that story from our financial correspondent in frankfurt also below the chelsea is there are markets taking this retaliatory attack by iran today. the market reaction is to has been pretty cutter intuitive i'd say the initial response was a little bit of panic global stock market sold off and then oil spiked but that's really been completely reversed throughout the european trading day global stocks

are up now in oil has declined so i think investors were really worried there's a lot of anxiety that iran's response which they've been pledging to retaliate against friday's attack would sort of set off this tit for tat. retaliate retaliatory chain of events but since the news was announced both the u.s. and iran have sort of indicated that they. don't want to see this as further donald trump has tweeted overnight that all is well that there that they haven't seen a loss of u.s. life in the attack and iran has said that they. think that this concludes their attack so there's hope that this is really the end for for this event so we'll see how the u.s. perspective changes or if it changes in the scrums statements later today but i do get the sense that investors are keen to get pos these tensions or are there more fundamental concerns at the moment i think it's going to remain

a concern for investors especially since we haven't seen the u.s. response and even even if they don't retaliate this is could still be a factor for a long time but there's still a very supportive backdrop for global equities going forward you still have central banks pumping a lot of liquidity into the market the u.s. and china are about a week from signing a trade deal and economies are quite well so i think investors are really keen to buy the dip here so if you do any in frankfurt think you. now to some of the other global business stories making headlines today the russian and turkish president said to open the talks 3 natural gas pipeline will transport natural gas from russia cross the black sea to turkey a 2nd section due to open in the future will supply southern europe germany entered the other world's 2 biggest consumers of russian natural gas. a group of barclays shareholders have filed what they're calling the 1st climate change resolution out

of european bank they want the bank to stop financing energy firms that do not comply with the 2015 paris agreements climate's goals barclay's is the fossil fuel industries number one financial support group. more than 200 institutional investors are seeking nearly 1000000000 euros in damages from germany's dima the mercedez make a failed to disclose its vehicles have been fitted with software to cheat on emissions testing his share price tumbled after the scandal came to light in 2050. thousands of new jobs and a big image boost for the region it's still early days about tesla's planned gigafactory outside the germany's capitals berlin looks to be a big win for concerned it's also solidifies tesla's position as a campania turned major producer which is now rolling into the land of the inventor

of the automobile. this is still home to rabbits and hedgehogs but after electric vehicle pioneer tesla announced it would build a massive production facility in the state of brandenburg next to berlin other major carmakers have also expressed interest in the region. the brandenburg economy minister believes the area could split german manufacturers opening up to new technologies asking whether there are opportunities for them here they're asking what are the requirements what made you interesting to tesla there is a knock on effect. and i think what the. tesla is aiming to produce half a 1000000 model 3 and why vehicles annually at the brandenburg factory that would be equal to the plant output of its just completed facility in shanghai dubbed gigafactory 3 was hoping to begin construction in the berlin suburb of grew in height of by march but that's unlikely because it's still waiting for a permit just before christmas tesla reached

a deal with the state of brandenburg to purchase the plot of land for the new plant . that's it from a b w news is next right after this quick market up. to . come up.

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a plane. flew subscribe to a documentary on you tube. i subscribe to do you know where your books there's always something more in the world than what we made the capture files. books are known to play. laying the blame . this is news law from berlin and iran launches

a missile attack on u.s. bases in iraq it says the strikes. are in retaliation for the assassination of a top of reigning general last week iran claims that 80 americans were killed in the missile attacks but president trump tweets that all is well. also coming up more than 170 people are dead after a ukrainian passenger plane crashes near tehran's airports all passengers and crew aboard the plane were killed when it went down shortly after takeoff.