the more i'm joined by our financial market correspondent chelsea delaney in france the chelsea how did the easy rate decision go down on the floor. i think investors don't really know what to make of this of this decision so the initial reaction was pretty uniformly dovish so we saw stocks rise we saw the euro lower we fall german new record low but then as mario draghi started to see sort of the perception of this change so he declined to give specifics about how much they expected by when they were start quantitative easing he sort of stepped around some of the specific logistics of of what this easing program is going to be and so we've definitely seen a change in the market reaction if you will if you look behind me you can see this huge selloff we've seen in stocks so investors are are sort of seeing this as not of as a initially thought and certainly what we see behind you somewhat nearest german business confidence right now we just keeps falling. and marge argue was asked about this several times during his press conference the data out of germany and pretty pretty bad this wee

let's bring in our financial correspondent chelsea delaney who's standing by in frankfurt chelsea how bad is this will consumers have to worry about getting their hands on a smartphone anytime soon. well i think if you're planning on buying a smartphone this year should maybe reconsider it like as you said you know these chemicals that japan has restricted are critical to basically every consumer product today or consumer electronic you know smartphones but also t.v. . tablets you know all sorts of electronics and the problem is that japan is dominant in all 3 of these chemicals they control basically 70 per to 90 percent of the supply for all 3 of them so for south korea there's really nowhere else that they can go to get these products so they have some stockpiles samsung says it has about 3 months worth but i would expect you know delays to ripple through to companies like apple amazon samsung but also to be expecting higher prices for these products and some sort of very wide ranging effects could this also affect the way to grow a lot of 5 g. networks around the world really. rig

chelsea delaney joins us from frankfurt bureau to talk about this chelsea is the trade realm escalates what's the likelihood of a major slowdown in global supply chains. right so we're really looking at you know global disruptions here. you know these these chemicals these products that japan is restricting exports of they're crucial to basically all of our high tech devices now so you know one of these that's used in. t.v. just plays to japan is responsible for 90 percent of the supply so you know we're looking at disruptions for cheap suppliers like samsung as cave but also you know potential ripple effects to american companies apple you know lenovo laptop makers dell so there are really a lot of there's a lot of potential for this to you know raise prices for there to be delays and disruptions so the american take joins could be affected apple the chinese take titans what about european players well i think it's a little bit different for europe you know europe doesn't have the same dominance in tack and products like this you know there are a couple of european companies that coul

let's bring in our financial correspondent chelsea delaney who's standing by in frankfurt chelsea how bad is this will consumers have to worry about getting their hands on a smartphone anytime soon.

chelsea delaney joins us from frankfurt now chelsea will consumers have to stop worrying about getting their hands on a spot for it any time sir. yeah i mean that's definitely something that people need to be thinking about you know these these products that japan is restricting care are crucial to basically every consumer electronic we have today so you mentioned smartphones but also tv's tablets laptops really everything and so there are also the other problem here is that there aren't a lot of of other places for south korea to source these products so japan basically has a 90 percent domination on some of these chemicals and other products and there's really nowhere else for companies like samsung to go for them so they have. stockpiles and they say it could last a couple months but you know we are facing probably disruptions here everyone seems these days to needed want a smartphone and they what it right away as well as quick to rates which brings up the prospect of these 5 g. network which is meant to roll out soon i mean could they be disrupted by this trade. right and i think

session and i think that's sort of weighing on the market here oh well that's good news at least chelsea delaney there reporting from the front that stock exchange thank you so much. and it is the 1st rate cut in turkey since 2016 and it's bigger than expected the techie central bank today decided to lower its key interest rate by 4 and of course if points that takes the country's whopping rate of 4 by 24 percent down to 19.75 percent it's an interesting twist in turkey's monetary policy just over 2 weeks ago turkish president richard type add one fired to the central bank chief because he had refused to follow his demands for no rates well now his successor has complied but what does that mean for the status of tekkies central bank is it independent or just a poor woman who wants power play a question many investors are struggling with from brand new subway lines to the inauguration of a new bridge across the boss bruce and a gigantic mosque wretch of type everyone is keen to work with supposedly jobs always eager to praise turkey and its economic might. but the country has been experiencing a

let's check in with chelsea delaney in frankfurt josie i'm quite used to bad news from bunch of bank at a loss of 3000000000 euros that. is that's still within normal levels of losses that companies off the sauce can stomach it's a large number there's no doubt about that it's not the largest loss that bridge because of a reported back in 2015 or reported a loss around 6000000000 euros. but i think what's really surprising here for investors is that just a few weeks ago to which a bank a mountainside we're going to we're going to going to report a loss of 2800000000 euros suddenly 2 weeks later it's 400000000 euros more so there's a question of what happened over the past few weeks to make that happen but also if you look at some of the details of this report if you look at some of the revenue sources that deutsche bank is really are acquiring but really counting on in this restructuring there's also they're basically stagnant in this quarter so i think that's being reflected and the share price the stock was down a 6 percent earlier and so on and busters are really questioning the f

question is was that investment in prime really worth it for amazon a financial market correspondent chelsea delaney had this to say these investments that amazon is making they're really long term investments it's investments into things like warehouses and it new workers into training into sort of the infrastructure that underpins this whole private system we did see the c.f.o. of amazon say yesterday that they are seeing some early benefits of this. they saw a slight acceleration in north american sales a little bit stronger international sales they always point. to this prime day where it's always a record but they say it's another record survey but they are saying that they're seeing the benefits but he also said you know this is sort of a shock to the system the size of this investment is it's really it's going to take a while it's going to take us a few quarters to really see how it plays out a financial market correspondent see delaney talking to us and now to some other global business stories making the news. the u.s. economy failed to live up to donald trump's promises of 3 percent growth

that's we're going right now observes the delaney is standing by in frankfurt at chelsea diamond have been working together on joint ventures in china for years what is the chinese company hoping to get from this investment now. well being is saying you know we're really hoping to strengthen our alliance with time warner we would like to align ourselves more closely with management what analysts are saying is that the reason this could be happening now is because last year china sort of reduced some restrictions that it had on foreign ownership. of joint ventures for multinationals so historically the only way that you could set up a company in china if you were a foreign company was to partner with a local company so this is how it got all of these joint ventures and china and now they have the opportunity to raise their stakes to take on a majority interest and some of the some of their ventures there and so that's sort of poses a problem for for these relationships because these are really important for the local companies so it's sort of what analysts are seeing this is you know a

let's talk a little bit about this with our french market correspondent jealousy delaney who joins us now in frankfurt chelsea now i know that there was already a a longstanding cooperation between a dime and be a i.c.e. what does this stake cruft percent stake change in all that. well this gives piers see the 3rd largest shareholding position which gives it some more influence over over the direction of time warner it's not clear yet it doesn't appear about b.s.e. is aiming for any board seats or managerial positions but what analysts are seeing this as a sort of a strategic move on be a cs part. because back in december this other chinese firm. came and bought a stake for a 10 percent stake sort of out of nowhere and so that was sort of seen as a threat to this alliance. for taking this stake because these sort of solidifies itself. so it's a little bit of competition there on the chinese side what about the strategy there . well this is an increasingly extremely important market for. you know they need to be in china because that's where all the growth is coming from but also that's where all the technolog

delaney is standing by in frankfurt chelsea we've seen companies hit with big fines a lot recently and shares usually went down on the news if the underlying numbers were still good why is it different this time. that's fair for a lot of companies but these big tech giants they sort of are exempt from those rules and particularly with facebook people called the tough tough line company because it has been so resilient to all of these privacy concerns the cameras and i want to scandal these things have really been overhanging facebook for years and the stock has only risen one reason why this is having a huge impact though is facebook had already warned that they were going to be taking this settlement with the f.t.c. they had said earlier this year that they could have a $5000000000.00 settlement they set aside some money but they also had expected maybe a little bit worse from the f.t.c. with the f.t.c. is saying is that they need to set up this committee. holds markets responsible but there have been floating around about facebook was going to have to sort of stop collecting user dat

let's talk a little bit about this with our frontal market correspondent jealousy delaney who joins us now in frankfurt chelsea now i know that there was already a longstanding cooperation between a dime and be a i.c.e. what is this stake cruft percent stake change and all that. well this gives the 3rd largest shareholder and position which gives it some more influence over over the direction of time warner it's not clear yet it doesn't appear about b.s.e. is aiming for any board seats or managerial positions but what analysts are seeing this as a sort of a strategic move on beer sees part. because back in december this other chinese firm. came and bought a stake for a 10 percent stake sort of out of nowhere and so that was sort of seen as a threat to this alliance. by taking this stake because these sort of solidifies itself. so it's a little bit of a competition there on the chinese side what about the strategy there. well this is an increasingly extremely important market for. you know they need to be in china because that's where all the growth is coming from but also that's where all the technology is com