the quincy institute for responsible state craft speaking to me and that's it you're up to date of more world news at the top of the hour steve bisley has no danger of the business update in just a moment and of course there's always the web site yes that's always the website. of the day. you're. cut.

through thanks. a new car maker giant emerges after shareholders shareholders for p.s.k. and fia chrysler approved a bag of merger but this big are really getting better at a time of unprecedented challenges for the car industry we'll talk to our financial correspondent. also on the show london's withdraw from the e.u. was supposed to give a full break that boost to germany's financial hub frankfurt will look at why that hasn't happened. and the european market for medicinal marijuana is much smaller

than its american counterpart but investment is growing producers are optimistic. welcome to the show i'm stephen beardsley in berlin it's good to have you with us shareholders for chrysler in france as p s a overwhelmingly approved the 2 automakers merger on monday creating the world's 4th largest car company and the resulting firm will be called still lattice and will be home to 15 different brands including peugeot citroen jeep opel and dodge in today's increasingly difficult car market the company will have its work cut out for it. the 2 car companies couldn't have made it on their own neither fee at chrysler nor p.s.a. could keep up with the competition when it came to electric cars now they want to reach for the stars together as the still lantis group so these she measures we're responding to the major challenges of the automotive industry we need a certain size in order to become more efficient in research development and

investment but also to put ourselves in a better position worldwide. it was a bumpy road but now p.s.a. and chrysler will together form the world's 4th largest car manufacturer after folks toyota and the new nissan mitsubishi alliance. fiat's opel. and chrysler are just 3 of the new auto giants 14 brands and that could be a problem before the pandemic the 2 sides have promised that no brand would be eliminated. b.m.w. will miss the promise not to give up any brand will be hard to keep today they have 14 of them but i don't think that brands that sell 20225000 cars worldwide today will survive the next crisis. which includes uli still and his might have just come together but it may yet have to slim down for the auto market of the

future. and for more this let's talk to our financial correspondent in new york yen scored a hello yes so to say c.e.o. carlos to virus has said that only the most agile car companies or get through the difficult years ahead why is he merging with another giant car company then. well if you will see mergers in that event scale mostly what those companies try to achieve in the 1st place is to find synergies and bring costs overall down so that's probably $1.00 of the aims one challenge definitely will be the chinese market the 2 companies combine to have a market share of less than one percent and the largest car market in the world they will also try to help each other was developing electrical vehicles what is quite pricey so they're also looking for synergies there but clearly if you look at the history of cross continental mergers in the car industry has not have not

necessarily always been successful and so one of the key markets actually might be the united states and the companies are thinking about bringing the old model back to the u.s. market for the 1st time in decades now yes i find that fascinating you show these small cars in the american market it seems to be dominated by big vehicles is it possible to make that work. yeah definitely and if you look at the u.s. car market overall i mean i'm standing here in front of for the used to a car dealer in brooklyn and we had a bumpy and very rocky 2020 especially in the spring was the outbreak of the pandemic cost sales plunged in the united states but then when summer came more and more people voided mass transport and actually did stop buying of vehicles but yes talking about the big. s.u.v.s vans pickup trucks so they make up for more than 70 percent of your car sales here in the united states and you definitely wonder if

there is a big appetite for peugeot if you killed specially here in the united states it's all about the big cars right so maybe bigger is better there in the u.s. financial correspondent thank you. or in germany where frankfurt is the financial capital and was widely expected to benefit from brags that more london firms were supposed to relocate or expand their operations there to retain access to the continents those expert expectations have not panned out however and for many in frankfurt it might be ok. from the river thames to the river mine the german world of finance hope that frankfurt would become the e.u.'s new financial hub 4 years ago the city expected to create 10000 new jobs but it's managed to make just 4000. why it wasn't $10000.00 is relatively easy to explain everybody expected more child migration but the british government reacted

immediately making some regulatory changes so that fewer jobs had to be relocated to. fewer jobs than expected coming over from london and job cuts at german banks as they struggle to stay afloat dim prospects for the country's finance sector. people think the office towers belong to the banks the terrorist still have the banks logos on them but if you look at the tenant mix in the building the banks are nowhere near as dominant as they used to be. isn't understocked become a city of big law firms and consultants. that's why stefan whining was never bothered by briggs that demand for commercial property here was already high the city launched multiple new building projects but the pandemic has had a devastating effect on the new stock and if you look at the strong years in 2018 in 2019 where we leased well over 600000 square meters you can see we're renting

only half of what we had in the boom years that speaks for itself. the new offices being built will likely be sparsely populated good news for small businesses seeking cheap rent but the trend is the opposite for. apartments affordable living space remains just a pipe dream with mostly luxury flats being built these days. i guess germans aren't familiar with lecturing condominiums in high rise buildings they're completely new phenomenon here in the past high rise buildings were considered commercial buildings more of an imposing backdrop now we see a trend that's more familiar in north america luxury residential towers. even though briggs it didn't bring the expected migration to frankfurt the city's appeal remains high but so does the price of rent leaving affordable housing a scarce commodity. a story we're following out of china 2 months since his

last public appearance speculation is intensifying over the whereabouts of chinese billionaire jack ma alibaba found there has been off the grid since late october when he gave a speech criticizing china's regulators and state run banks was given a dressing down by officials in beijing while the i.p.o. of his financial services company at group was suspended he was also removed from a prominent role as the public face of an african talent show. our let's take a look now at some of the other business stories making global headlines. e.u. competition watchdogs have approved german state aid of up to one and a quarter 1000000000 euros for trouble travel group 2 week which has struggled during the pandemic they just part of a larger support package that also includes private investments to a c.e.o. says he expects the travel market to largely recover this summer. opec and its partners are split over whether to increase oil output next month as the outcome of monday's meeting in vienna some members like nigeria wanted higher output following

last year's cuts but others fear a glut cartel will meet again on tuesday in an attempt to break the deadlock. bit coy soared to an all time high of almost $35000.00 on sunday but it's since given up some of its latest gains latest milestone for the cryptocurrency coming just 3 weeks after it hit 20000 dollars for the 1st time because it has surged by 800 percent since been march. or popular support for medicinal marijuana has grown across europe in recent years and so has the market for it which is now believed to be worth hundreds of millions of euros and that still pales in comparison to the u.s. market for example which is worth billions but as more european countries legalized medicinal marijuana investors are pouring in their money and producers are finding their product. these hybrid strains of cannabis have sonorous names like dell and

they could pose and. names adopted from the black market but what's being grown here near the danish town of old and is legal medical marijuana for an up and coming european market it all started out in the greenhouse next door months peyton's family business is scandinavians largest producer of greenhouse tomatoes now they've branched out into cannabis together with canadian company aurora cannabis peterson says his motivation is not just market driven. for me personally it was a personal story of 11 your boy who had seizures and simply no miss and didn't help him out of this race and his parents bought illegal cannabis and and he tried that and after 20 minutes he just ups we've been given rare access to our aeronautics medical marijuana production facility it's about to be certified meaning the product can finally go to market after 2 and

a half years the program put in place by the government here in copenhagen allows companies to manufacture sell and export medical cannabis products and in this really does remain optimistic that the program will be continued in future despite this stigma still attached to treating patients with medical cannabis. that stigma is something dr tina holstered who runs a pain treatment practice in copenhagen knows all too well there is that day you will end up with a needle in a stack with cannabis but it has never been proven we want our patient to get symptom relief or the problems if that can be pain or nausea and vomiting to chemotherapy or radiation. the physician has treated some 3000 patients with cannabis products so far and is convinced of its efficacy for health and well being . and that's it for me and the business team here in berlin as always you can find

out more about these and other business stories online at www dot com slash business to check us out on facebook and twitter until next time take care thanks for watching it's. been really a monster the toughest in durance race. 1200 kilometers with a dog sled. day. in the far north of norway. and with practically no sleep. any more questions and off we go to fin marc sloping close up. in 60 minutes on d w. what secrets lie behind these walls. discover

new adventures in 360 degree. and explore fascinating world heritage sites. p.w. world heritage 360 get kidnapped now. of the mormon. church. because who was using love. in those wars smaller. movies lol the rules. is no use. no love. for the word.

come. on. this is g.w. news africa on the program today the race to bravely in covert 19 in south africa as the country post a record number of cases and dates for here from the scientists who say it has little chance of meeting its vaccination targets in 2021. also in south africa the initiative aimed at building skills and confidence in girls from poor and disadvantaged backgrounds. class will meet the full set of taking the lead.