he tweeted, "basf will comply with u.s. sections on iran." basf has yet to respond, and neither has vw, at least a rookie. the carmaker says it is complying with relevant laws and regulations. one of these says that american comedies do not have to comply with u.s. sanctions on iran. more companies are choosing to play it safe. they fear that doing business with iran would hurt their business in the u.s. market. that is why daimler, deutsche bank, and deutsche telekom have ceased activities in iran. javier: over to our new york financial correspondent jens korte, joining us from wall street. good to see you. it looks like the eu companies are stuck between a rock and a hard place. 10 the eu rescue the iran nuclear deal while protecting company here? jens: there is only so much the european union can do, and that is mostly for two reasons. first of all, a company from europe has to think twice if they want to do business with the united states or with iran. usually the business deals with america are much greater than with iran. that is number

it's an appalling indictment of this regime that the world's largest company basf has abandoned all further bio technology research for the european markets. the project has moved to the usa which is terrible news for the uk farmers forced to spray their potatoes dozens of times in the effort of a resistant crop. he is soon to follow suit and take his research elsewhere. his reluctance to adopt the agriculture, uses out more land than is needed. u.s. corn yields have overtaken those of france in the last 20 years. now france is missing out on over four and a half tons per hectare compared to the u.s., amounting to a total loss of 6.1 million tons across its 1.5 million hectares. if france had kept pace with u.s. technology, that crop could be worth an extra $1.2 billion or france could free up 500,000 hectares currently used for its own crop and put it to use for wild life, recreation or forestry. leading the eu means that the uk can strengthen our world by retaking a full seat on the bodies that determine global regulation at which we are currently represented by the eu collectively. these

bsf -- basf could also be a mover.are watching for movement in those stocks but italy remains a big focus. let us focus on the italian story. the populist government last night agreed to set the deficit market -- the deficit market at 2.4%. lower spending is argued for to stay within eu spending limits. the ftse has just opened lower. etsy --us now is james james asif from aberdeen asset management. down 0.2%. opening perhaps no surprise. what matters to you now on italy? no surprise that yield would go higher. news to not going to be anyone on this 2.4% number but how long does that market reaction last? some people say is in the gray zone and not in the white zone. difficult to been work out what markets have been expecting. broadly speaking, it felt like everyone was rather hopeful. -- a lot of people attach to a lot of weight and significance to that. i did not come but we did not. the way that politics works is if you have the majority, your supporters and party members and your voters are not going to give you mu