people. information regarding. the want to express. w. our facebook and twitter are up to date to touch. as the rate for a coded $900.00 vaccine heats up german biotech company kiribati goes public in a bid to raise costs for clinical trials u.s. president donald trump is among those who will be keeping a close eye on the company's progress. also coming up the u.s. and china prepared to resume trade talks the backdrop of a global pandemic and washington's threat to bomb social media giant take top.

this is the business i'm kate ferguson thanks for joining me it was a hockley on to suppose that i.p.o. and it turns out to have been as lucrative as analysts expected german biotech company cura bank has made well over $200000000.00 in its debut on the not stock stock exchange giving it a total value of a buy $2800000000.00 the for firm is working on a cope at 19 vaccine and wants to use the funds to pay for clinical trials. for more let's bring in business correspondent yan squad to yes how much of a boost is this for a cure back. well it's clearly helpful i mean a good $200000000.00 that is very promising and it was a very good start to your image on manhattan. the stock up by 250 percent so it more than tripled in the 1st trading day but you're of it already said that there.

going to need more money and probably hundreds of millions of dollars maybe from a safety co-founder a deeper hole pool is one of the big investors in a cure a victim also of the bill and melinda gates foundation are in vested and if you look at other companies that already listed before the pandemic started they actually sold. says it is seeing if successful for billions of dollars and they're also getting hundreds of millions of dollars from some government to speed up the development of the v.c. and so clearly this i.p.o. money wise is helpful but more money will be needed. megan 1st search for a vaccine is turning into something of a modern day face right if where would you place cure back analysts. well i mean right now there are really in the early stages they got just got to sums up for phase one trial that will then soon start was so clinical trials and other companies if you look at nova thanks so much. that was the german partner company

on tech most of them already started face trial so it is early in the game but even the more every dollar is needed to speed up the process for finding the scene as soon as possible. to in new york thank the ever. 950 other business stories making news. germany's finance ministry has denied allegations of insider trading at the country's financial watchdog it said the increase in employee trading of wire card stock was not unusual compared to that of other volatile companies wire cards filed for insolvency in june after a $2100000000.00 hole was revealed and it's a kinds. the united states has seized the fuel of board for iranian tankers batting for venezuela disrupting

a key supply line for both terror ron and kyra costs asleep to fight u.s. sanctions the u.s. justice department says the cargo amounts to over a 1000000 barrels of petroleum making it the largest ever u.s. seizure of the brain in fuel. for turkish lira has fallen to a new no against the u.s. dollar after years of declining value it's now worth just over $0.13 making it one of the worst performing currencies among emerging markets rising inflation a result of a cheap loan policy has added to pressure on the lira. google says it will no longer respond to data requests from hong kong the move follows beijing's introduction of a new national security law in the territory critics say the legislation is designed to target protesters and free speech.

the united states and china are jus to resume trade talks this weekend 8 months after agreeing to phase one of a trade deal the contentions couldn't be any more tense the world is in the grips of a pandemic which u.s. president donald trump blames on beijing and washington is in the middle of a crackdown on chinese tech giants. the popular video service to talk is facing a battle in the u.s. 8 that's what president donald trump wants citing concerns over the chinese state's potential access to the user data that take top collects then tick-tock happens to be very successful in the u.s. it may yet avoid a ban if an american company takes over the video platform and its 100000000 american users until september 15th. both microsoft and twitter have registered interest and negotiations are ongoing. is already banned the

messaging app is a must have in china and most chinese smartphone users have it installed on their phones phones they take with them when they move to the us to work or study but the number of we users is far behind that of tick-tock these are only the latest battleground in the fight protect supremacy between the u.s. and china but it takes 2 to play the game american social media platforms like facebook and twitter have been banned for years and chinese tech conglomerate while way has been a bone of contention for the u.s. despite washington sanctions however while way still manage to sell more smartphones than any other company. but whether that success will hold is another question while ways struggling with challenges to its smartphone production mostly due to u.s. trade restrictions against china that prevent american a chip producers like qualcomm from providing wall way with processors their supply

is only enough for a few more weeks even while wave might have to stop producing phones as early as september. let's bring in james andrew knew as he's the director of the technology policy program at the center for strategic and international studies in washington d.c. james welcome to the show how big a role will chinese tanks play in this next round of talks. i think it will overshadow. surprising us all making any progress there's areas like a cultural products where there's still room for the president we welcome progress on agriculture but tech overshadows everything. ok now washington is threatening to take talk on national security grants now the way to look at this is that america is simply threatened by at chinese success story what do you think about. no it's not a threat of the chinese success story it's the threat of chinese espionage and of

chinese censorship and of chinese influence operations and fortunately there's good evidence that china is doing this we know they're censoring things and to talk there's a deep concern in the government that they will use to talk as a platform just spread chinese propaganda they've done it the other areas and finally there's the whole question of what happens to the personal data could be collected over by defense it's best to see to talk not as an individual case that part of a larger pattern of groups and health care companies and insurance companies china's vacuuming up u.s. person data to populate a surveillance database and that's the primary grounds for concern on that question of data about u.s. president donald trump is accusing chinese companies of mining you as a state as you say i'm the likes of facebook and google doing exactly the same thing. they are but they don't have prison camps and they don't violate their

agreements and hong kong they're not a state and so china is the world's largest surveillance state it's the world's largest police state it's not a democracy it doesn't respect human rights or the rule of law that makes it fundamentally different facebook and google can't throw people in jail china can and what do you think beijing strategy will be then in the next round of talks. oh i think i'll look for retaliation i mean as you mentioned going into this of course us social media platforms are banned in china so even some chinese are told me we understand why you're doing this you're just using a page from our playbook but china will look for other areas where they can retaliate and whether that's in silm soren in investments or something else we're showing it will be careful to do this in a way that doesn't hurt their own economy but they're looking for ways to retaliate and we'll probably see that relatively soon now these negotiations come out an

incredibly volatile time for the global economy what i the chances of a breakthrough. i would say a major breakthrough it's close to 0 progress in some areas the trump administration would like to see some progress because of the election i hope the chinese don't overestimate that the chinese keep saying well he's also doing this because in the election it won't help him that much you know will hurt him that much i mean americans do vote their pocket book but the trade talks won't really change a lot of the fundamental issues so minor progress the best thing would be no rupture at all because a rupture would send a very bad signal to markets and so if we can just keep kicking the ball down the road a little bit might be best for now i'll keep that ball rolling james andrew lewis thanks so much thank you and finally we'd like to take you to the wine growing

region of leaves that in the fight a front for white muscat then there's have been enjoying and if fashion an early harvest 10 days ahead of schedule to be exact. very warm temperatures at the end of june added to an earlier ripening of the grapes that make muscat y. which is naturally lice on face the face. and that wraps up our show for more check out our website e.w. dot com slash business we're on facebook and twitter to me on the team it's goodbye and taken.

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this you know i mean in your minutes i'm going yes. what i'm going to miss you know what i'm what what in what can i see right up what is it there. was here it's as if the sassy quote i've only said that i caught going on what they're doing finding. well grabs a news from the world about some culture the design of a brand new museum about exile has been presented here in berlin also coming up today. with a lot down easing in moscow artists are emerging with what you were influenced by the coronavirus demi. and has that ever been a drive through museum before all while there is now in russia down.

but's we begin with the announcement this friday of the winning design for a new museum in berlin it is a museum about exile which of course hundreds of thousands of germans experience themselves in the 1930 s. under the nazi regime the nobel prize winning author i have to move the initiated this idea for a museum nearly 10 years ago and she was there on friday with a number of dignitaries including the former german president you walk him golf patron of the project as they set everything in motion more in a minute after a look back at how this all came about. germany under the nazis hundreds of thousands fled towards an uncertain future jews are members of the political opposition anyone who didn't fit the knot.