of the controversial retailer life of sale of their member states of boy taking a position hello and welcome to our show. i'm seeing busy in berlin. meters of the world's 2 largest economy sought to put a positive spin on there, increasingly tense relationships, chinese premier, she eugene ping, meeting with us president joe biden in california as part of a broader summit of pacific nations. she told by and the world was big enough for 2 successful countries, while biding, reportedly urged, the competition doesn't fear into conflict. security concerns loomed over the talks, but trade tensions are significant to us is blocking more investment in china and limiting exports of certain technologies. my colleague, general dom alone was at the side of the summit in san francisco and sent us this for she's in ping and joe biden. the summit was a chance to get a relationship fraud on friends, political and economic on more stable funding. she didn't bring wants to see a relationship free from what he sees as

a us efforts to stifle china's economic growth. he's like in the curves that the u . s. has placed on technological exports to china as technical, logical containment. but joe biden has told him during the summit that the us will be sending technological exports to china that china would then be able to use for its own military advancement. so it would seem that the curves are here to stay. however, huge and paying has had other goals that he wanted to pursue here in san francisco, including the courting of foreign direct investment, which has been declining in china, out of banquet dinner that he attended with us. executives were tickets reportedly cost $2000.00, a plate, and $40000.00 for a seat as sheet and pings table. the chinese leader wanted to represent his country as a place where the world can still do business, even in this moment of economic weakness for china. of our correspondent janelle de milan there. what's earned a reputation as one of your biggest tech events. the annual web summit in lisbon is

set to close today. after drawing more than 70000 participants and 2600 tech startups. a i models like g p t has been a major focus for entrepreneurs and investors. over the past few days. of the startup sector continues to struggle with funding after a period of higher interest rates in tighter pockets from investors. this years web summit also began under a cloud, the former c o. resigned after a series of tweets on the israel. ha ha, i'm us. war pushed the several major participants, including amazon to pull out of the events. katherine moore as c o of web summit and she joins me now from lisbon. catherine, thanks for coming on the show. maybe you can begin by explaining to our viewers what the interest in a i and in particular generative a i models like chat. you can see what that looks like at this year's web summit. absolutely, it is obviously one of the hottest topics of conversation as you can. well imagine

. there are conversations about how a guy is taking over every aspect of the sector. if you think about it, a little bit like technology is now in every aspect of our global economy. a, i seems to be increasingly in every aspect of technology. and so we've had discussions on a i for climate a i for health a i for education a i for physiotherapy was just taking place on the stage behind me. there were conversations that a i've and regulation. so deep conversations across the entire spectrum of business and then what does that mean for the future and society accounts and we're seeing open a lot of the company behind chad should be teen now offering a kind of app store for applications using it's model. is there the sense there at web summit amongst those startups interested in this area that perhaps this model of the next phase of big tech a is also going to be dominated by big players, perhaps the. well,

i think that that is the big question. of course, and there's certainly efforts by these big players to consolidate their position, whether it's through app stores or if their conversations about the best modes of regulation that perhaps critics would suggest cause a mote in order to consolidate that position of the big players. i also know that any time in the industry goes through a major transition like this, whether it was from web one to web to, you tend to see a massive shake out. and some of the dominant players may look very secure right now and, but we don't know what's coming down the line started funding has always been an issue here in europe. the 1st half of this year wasn't great for many tech companies, especially. can we expect that it's going to get better in the near future the well, what i'm hearing from investors is that they have a couple different trends that work. certainly the overall macro you, you know, make situation has made for less liquidity in terms of investor money,

less lp is coming into some of the smaller funds funds sitting on their hands a little bit more when it comes to making investment decisions. but what we're also seeing, and this is really on the side of the entrepreneur, is, is that a high end automation, a new code of services have made it much easier for startups to get to a point where they've built a working prototype or a viable model that they can bring to market and start to build a customer base, which historically would been the sort of thing that they would have gone to investors for funding around. so starts can get further and faster without initial investor funding, which actually puts a little bit of power back in the hand. it's an interesting moment in the market and we're certainly watching it closely to see where it goes. and then we have to ask you the big news of the beginning of web some of course the bigger names like amazon and stripe pulling out of the summit of following those comments by your predecessor. how confident are you that they'll be back for future summits?

i'm actually quite confident we've had wonderful conversations with our partners, both those who are in attendance and we are very confident about the opportunity that is created for them as well as those were not in attendance, but have given us their ensure assurances that they'll be at our future events later this year and places like rio and cuts are and in toronto and then again, next year in lisbon. so feeling very good feeling very positive and i have to say the folks who are in attendance this year are feeling excellent about the reading room that that's given them to have conversations and really let their star assign a slightly smaller companies. catherine more c. o of web summit taking place now in lisbon. thank you very much. thank you so much. and let's go now to some of the other global business stories making headlines. a german sports car maker porsche plans to invest 250000000 euros and its main plant in stuttgart mostly just ranked and it's for a into electric mobility of the plant currently produces combustion engine,

sports cars, and the future. the battery driven models $718.00 and my con will be made there as well. tick tock says it is not a gate keeper under the use, new digital markets act and has joins meta and challenging the block over the social media services designation as such. earlier this year, brussels has picked $22.00 gigs, cheaper services including microsoft, apple, and google, making them subject a tougher rules under the new law. a weakening economy and higher interest rates continue to cause problems for the financial industry. that's according to e. c. b president christine regard and a speech on thursday. the guard warrens, the weakening demand for credit and rising costs, are putting pressure on banks balance sheets and could also impact other businesses . well, the new commission has renewed its approval of the controversial retailer at the life of state for 10 years after member states failed to take a position in executives at

e rules. forced to act after to few member states responded to its proposal to extend the approval, which was set to expire in december. the uses, it's adding new restrictions for use of the chemical, which is the active ingredient and round up retailer made by german agro chemicals firm buyer. right, let's go to rosie burchard in brussels. rosie 1st remind us why this debate over this we'd kill it has been so bitter in recent years. stephen, the glove of state has been the subject of political and even scientific control proceed for years. no, i'm not because simply different agencies say different things about this active substance. while the world health organization says the guy for state is probably carcinogenic. the european food safety authorities conducted a major review of hundreds of studies over the past few years. and it said that it had to find some data gaps, but overall it says that identified new, critical areas of concern that would be a barrier to renewing the ease approval for this. and that's the basis on which the

european commission us to use executive has chosen to extend this renewal. and you can imagine therefore this has problem to it's quite a mixed response. while on the one hand, we've had some farming and agriculture organizations welcoming this thing, they had no real alternative here and they, they, they pointing, they say to the science. there's also been a welcome from buyer, the german company, which is a major producer reducing this is a active substance. on the other hand, we've had environmental competitors, no simply green piece saying this is a very sad day for europe and their description. so both sides, interestingly here, pointed to and drawing on the science, but drawing entirely different conclusions and assessments of the commission made this move after a to a few. never countries actually took a position on the issue. why did it really turn out this way as yeah, there was a bit of political time pressure here because the deadline for renewal or no, it was already approaching in december and one to pull not i spoken. describe this is really a bit of a bumpy road to get here. e u. member states of 27 members of this book were

supposed to choose, but they, in this decision making we seem really the limits of the, your opinions, political arithmetic here. because while there was a majority most and you countries back, they, there was not the qualified majority. so that's the majority based on not only the number of member states, but also the size of the population that they represent. and what i've been told is the major, you have your weight front on germany, both abstained in. they spoke and european commission. the executive therefore says its hands were tied and that it was forced to intervene. it says it would not have like this. it would have liked us to go another way that member states themselves made the decision that was not the case. so of course, mixed responses of a road embassies and diplomatic circles here brussels today as well. the commission saying that it's also putting new conditions on the we chose used to we know what those are. yes, absolutely. european commission says that it will bind the use of the life of say, as a pre harvest desiccant. so that's as far as a drying substance is also asking member states to improve measures to protect wild life for animals and plants that are not the subject of life of state. they also

say they've struck a balanced approach by only we're doing this for 10 years. it might seem like a long time get a crew to voted for longer on, but you're paying commission to use executive says that a new evidence emerges, a boat, the harms or potential harms linked to this active substance that they will amend their approval accordingly. rosie burchard and brussels. thank you very much. and his reminder of our top business story, the leaders of the worlds to largest economy, sought to put a positive spin on their increasingly tense relationship, chinese premier, she gene ping meeting with us president joe biden in california. as part of a broader summit of pacific nations. and that's our show, you can find out more online d, w dot com slash business. check us out on youtube as well under the deeds of the news channels. so you can go to the

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