our financial correspondent chelsea delaney joins us now from frankfurt chelsea narrowly avoiding recession may be good news but does it actually inspire confidence. it's certainly early if definitely after all of the worry there's been about a recession but it's also an extremely low bar to be clearing here and i don't think it changes the the longer term narrative for germany which is very constrained growth expectations the german economy is really been hurt by these trade changes through china and we continue to see weak growth in the manufacturing sector but there are some bright spots including consumer spending remains strong construction activity is strong so there is hope that the economy has at least bottomed out but even even if that's the case the growth expectations are basically for stagnation going forward and there are a lot of downside risks including from these trade tensions which china and changes for the for the auto sector with. growth with the transition to electric vehicles so there's it's still not really looking great for the german economy the german economy is no

let's go over to chelsea delaney off a national correspondent in frankfurt chelsea where is all this leading. really only further downward for both of these economies at the heart of the slowdown and japan and china is really the trade tensions between the u.s. and china which of put a drag on global trade but they also are both dealing with domestic issues as well japan has recently raised sales taxes which is expected to slow consumption there and in china they're dealing with a lot of problems including surging inflation inflation is at the highest level in 8 years in china which really makes it difficult for policymakers in china to implement any stimulus that could really boost growth so it's really hard to envision either of these economies really recovering anytime soon because they will you watch you'll see because german g.d.p. daughter is due out soon the figures could show europe's largest economy in recession analysts predicts the latest on who will see growth running deep into a hole in the 3rd quarter u.s. china thomas dispute has helped drive germany's he met effect fr

all right let's cross over to often national correspondent chelsea delaney in france the chelsea why an i.p.o. in riyadh and not in new york or london. listing is saudi aramco on on a local exchange is a really important symbol for the for the government there because they've they've really made this push to get more investors investing locally and to saudi companies and they've made a lot of a lot of progress and transparency and regulatory changes so i think it's important for them as a symbol to a list this locally but they are planning at some point in the next few years to do a 2nd internationalist saying syrian to do the small local listing where they all the list about 2 to 5 percent of the shares and then in a couple of years there they've said they plan to do another listing they've actually chosen quite understand what's interesting li tokyo. because they have said the u.s. london and china they've all have so many political issues right now that it would be it would be safer for us to list in tokyo on interest to use with the i.p.o. of course is part of saudi arabia's atte

they haven't achieved chemical weapons they've always got a camera on cliff is out china expert chelsea delaney joins us from the frankfurt stock exchange will come to her in a 2nd 1st with you cliff it is this the beginning of the end i think beginning of the end is the way to describe it i think it's be premature to say it's more than. they've still got a mountain to climb and you saw you as you mentioned the introduction you know the language we've had truces we've had all kinds of things in the run up now but the fact that the chinese foreign ministry came out with the reason the strong statement shows that clearly they're prepared to sort of put their money where their mouth is now and so definitely it's the start of the process if that is the case chelsea let's go over to you in frankfurt why isn't there jubilation on financial markets. well there definitely has been a positive reaction and global markets u.s. stock futures are up the docks up a little under one percent but it's not you believe it's not euphoria one of the reasons for that could be that over the past month global stocks h

are going to be improving slightly from here a silver lining there on the horizon delivers boy chelsea delaney a financial monkey correspondent thank you so much. and i notice on the other global business stories making news. u.s. president donald trump talks a good talk about reducing america's dependence on foreign products but the latest report from the u.s. commerce department says america's trade deficit is higher now than a year ago on an annualized basis and that demand for foreign products has actually been rising under trump what's more the u.n. conference on trade and development in geneva says both china and the u.s. are losing their trade war washington's trade war with china continues to draw fire from other quarters as well there's a lot of people who have frustrations in the u.s. and europe about chinese policy and i think many of these are warranted in terms of intellectual property rights or force technology transfer or lack of reciprocity in trade investment i don't really think the way trump is approach these is the best way to deal with them i think there are efforts that y

for more let's bring in our financial market correspondent chelsea delaney in frankfurt chelsea what exactly is mccrum hoping to get out of this trip. there are just myself several elements to this to this trip he's talked about climate he's talked about the continued opening of china's markets but what investors really see of this is about deals striking deals between the chinese government chinese companies and u.s. and french companies really last year there were about $60000000000.00 worth of a deal struck out at this point conference i think it there they're going to be looking for for more quickly abberation and they're really looking particularly in the ira cultural and financial sectors for for more copper cooperation between the e.u. companies and chinese companies but just just this sort of a side note is somewhat odd that the french president is spearheading a european delegation. i think a year ago maybe that would have been a super and years role but over the past several months there's there's really been . a pretty significant power dynamic shift within that within the

financial markets responded chelsea delaney in friend for chelsea given the current heated discussion concerning climate change is this forecast by opec nations just wishful thinking they're certainly still is agreement that we haven't reached peak oil demand that countries especially china india as you said are still going to need oil going forward because there really isn't a substitute for for over for oil use now and things like aviation and shipping but i think they're also if there is an outstanding question of how does this align with that with this global movement we're seeing towards climate change and a lot of a lot of analysts a lot of investors are saying that in these 4 has to not this point really take into account potential government changes in policy like we've seen in germany towards carbon pricing i think the other question as of course going to be economic growth and things like if if there's a big shift and the chinese economy that could certainly also impact this now but if opec is right with this forecast why then is of all countries saudi arabia trying to diver

let's go to chelsea delaney of financial correspondent in frankfurt chelsea just how bad is the situation because i mean germany's just narrowly missed a recession it is basically stagnating wouldn't investments from both the public and private sectors be exactly what the doctor ordered. well that's what economists investors have really been begging for over the past couple of months and vestment is really really the bedrock of economic growth so the deterioration and willingness to invest especially in the manufacturing sector is definitely a concern for long term economic growth but there are a lot of obstacles on both the public and private side for investment going forward the german government still is sort of saying they don't want to do fiscal stimulus and the private sector it's really hard to imagine any sort of manufacturing firm investing and long term manufacturing activity and things like that given the economic climate so i think it's hard to imagine german and that's not really going up from here thanks for joining in chelsea so lainie the german parliament has cleared the

and for more i'm joined by chelsea delaney in frankfurt chelsea german exports posting the biggest rise in almost 2 years how big a surprise is that. it's certainly a surprise certainly relieved it's about a percentage point more than economists had been expecting looking at the details of the report this is really driven by increase exports to the u.k. and the u.s. which both of those have been struggling with bracks and trade tensions they did see a decline in exports to china and another bright spot of this report was a 6 percent increase in auto and vehicle exports which has been really hit hard by the trade tensions so i think at the same time. it's one month it's one month of data a lot of the other data that we've had that we have seen especially from the industrial sector earlier this week has been has been mixed at best so i think it's too early to read you know and to germany slowdown and to this data tells you don't go anywhere because i would like to talk to you about a different picture that we see certainly in asia as powerhouse they've china's foreign trade continuing to

our financial correspondent in frankfurt chelsea delaney told us what the european central bank's new baugh's should expect from the job. that you think it's really going to try to sort of cope. with and the governing council goes with a lot of. things. here . before that you would like to do a comprehensive review of the. which you haven't done and about. getting clues looking out on the negative. things. i think she's also going to continue on the. markets are going to really start to try and get countries like germany. to do more in terms of. a lot of. these countries that are already spending as much as they can but i think that's where the markets are really looking her her diplomatic our political really hope her do something that markets are really was able to. bring to your reporting from frankfurt. now it all started with a protest over rising subway fare now chile is in the grip of violent demonstrations about the entire economic system the grievances include the rising cost of higher education health care transportation as well as the small pensions of retirees the protests

and for more i'm joined now by my colleague chelsea delaney was standing by for us at frankfurt airport which of course is germany's main aviation hop and home base here in germany chelsea what's going on there this morning with so many flights being canceled. it's surprisingly quiet here at the airport today i think that's in part because look tonga has been really warning about this for the past week they've offered to rebook passengers they've offered to let them take the train instead so i think this is pretty well telegraphed to customers at the same time they are expecting the strike to start doing rallies today in munich and tomorrow here in frankfurt about would certainly increase some of the activity here at the airport. so what exactly does cabin crew want what's at stake for them in the strike. the cabin crew has been asking for for wage increases they wanted a 1.8 percent wage increase and also some changes to pensions study more study access for part time workers this also has to do with the union itself tons of says they aren't recognizing this union as a proper union beca

from a let's preserve it often actual market correspondent chelsea delaney of the frankfurt stock exchange tells you 1st of all how did the siemens news go down on the trading floor. so you and yours are really on a tear. there of about 5 percent one of the largest gainers in the dax there is definitely a lot of anxiety coming into this report because siemens is really at the front lines of the industrial sector and europe they supply a lot of industrial customers so there was a lot of fear that this would have the slowdown we're seeing in that sector would have a much bigger impact on the companies so. for their expectations for $21000.00 but they also gave a forecast that was considered better than expected for next year so especially they're seeing a lot of growth in their some of their core businesses for this vision company of the digital infrastructure company of the smart automation sector as well so those were definitely bright spots for investors no semen c.e.o. joe casey has come under a lot of fire from critique who say his strategy spinning off parts of the company of the divis

let's go live to frankfurt to chelsea delaney josie alledge of a surprise is this used up new down to. it's certainly a surprise and certainly relief given all of the really gloomy data that's been coming out of germany over the past several months looking into the route to the details of the report sort of the hardest hit areas of german of the german economy seem to have rebounded so trade to the u.k. was a lot higher trade to the u.s. was a lot higher there was a continued decline in exports to china but i think seeing increases in exports to china or to the u.s. and the u.k. was definitely a bright spot also there was an increase in exports to be to the end that autos that sector as well which has been hit very hard over the past several months i think now there's the potential that germany could actually avoid a technical recession because of how strong this data was there had been a pretty much consensus here that germany was going to fall into recession after seeing growth the kind in the 2nd quarter looks like they may actually be able to avoid that now. if it is the weak goin

well let's go over to chelsea delaney our financial correspondent in frankfurt could. tip germany into recession. that's certainly a risk especially if you consider how close germany r.t. is tourist session it may already have fallen enter a session and the 3rd quarter growth prospects for the next 2 years are extremely low one a think tank here in germany has estimated that these tariffs could shave about point 7 percentage points off of g.d.p. g.d.p. is expected to grow 0.9 percent next year so that's extremely tight these automakers are already dealing with investments and electric vehicles with a global slowdown and part driven by the u.s. straight tensions what china that's coming at a really bad tire but where this really could have ripple effects is if it starts a tit for tat trade war where the u.s. and china start imposing tariffs on the other goods outside of the auto sector and that's really where we could see ripple effects and we've already got a big enough trade war between us and china thank you very much chelsea lately in frankfurt u.s. plane make a boe

our financial correspondent frank for chelsea delaney told us what the your being central bank's new boss should expect from the. christine the guard's 1st task as president of the e.c.b. is really going to be to try to build some sort of coalition to gain some sort of common ground within the governing council there's been a lot of division and a lot of discrepancy and how the e.c. be things that they should be proceeding with monetary policy here. she's mentioned before that she would like to do a comprehensive review of the policies which they haven't done in about 16 years that could include looking at the negative interest rate policy and the effects that's having on savers and economies and banks all throughout the euro zone i think she's also going to continue on this push that mario draghi really started to try and get countries like germany that run budget surpluses to do more in terms of spending there's been a lot of resistance to that within these countries they say they're already spending as much as they can but i think that's where investors and markets are going to be

and while i'm clearing my throat i'm happy to welcome my colleague chelsea delaney at the front for dough in frankfurt germany financial how to find out more about this latest tariff truce is it going to happen the white house doesn't seem to be too happy about it. i think the mood among investors among trade and this is certainly confusion today there by the end of the day yesterday the comments from the white house for contradicting not only china's agreement announcement but also each other one of the comment that's getting a lot of attention today is the announcement from peter navarro a top trade advisor who said this the trade tariffs are not on the table for for taking them out of the agreement and that this is wishful thinking so i think there's a lot of confusion and also more caution among investors because if if the u.s. does take tariffs off the table how are they going to do how are they going to sort of get china to to. agree on some of people are issues that aren't on the table right now so i think investors are becoming more cautious and we're seeing that reflected in a mi

our financial correspondent in frankfurt chelsea delaney told us what christine legarde has planned for her new role. carney. i think to continue. trying to come to. terms. just isn't any reporting from frankfurt let's get a brief look now at some of the other stories that are making headlines there have been more violent clashes in the bolivian capital la past opponents are disputing the official presidential election results this confirmed the incumbent evo morales as the winner without a runoff critics say the vote was rigged corrales 7 denies any irregularities. 11 on the banks have reopened for the 1st time in 2 weeks following a wave. protests that forced the government to resign those banks are operating normally but protesters stormed the headquarters of one bank chanting anticapitalist slogans. nearly $200000.00 residents of sonoma county in california have been allowed to return home their houses spared by wildfires they continue to burn in other areas the fire service says it's making headway against the blazes as winds dropped the fires destroyed at least $140.00 homes in so

chelsea delaney in front front now to some more of the other stories making news around the well to russia has introduced a new law that gives the government the power to switch off the internet kremlin says it's protecting itself from cyber attacks critics have condemned the law as a step towards more censorship. heavy flooding in somalia has killed at least 10 people fall to quarter of a 1000000 more to abandon their homes and livelihoods and much of east africa is bracing for tropical storm keanu reeves is likely to worsen an already dire humanitarian situation rains are expected to continue for another 4 to 6 weeks. as president sebastian pinera suspension has offered to host the annual united nations climate summit and chile had to withdraw as host after the country was hit by serious home to government protests the un's climate body the i.p.c.c. will consider spain's offer next week. and this month marks the 30th anniversary of the fall of the bourbon war celebrations of that historic event taking place across germany one of the most eye catching is at the landmark brandenburg gate h

well our financial correspondent in frankfurt chelsea delaney told us what the european central bank's new boss should expect from the job. problem i mean really going to try to build some sort of cold game sort of common ground with and the governing council there's a lot of. a lot of discrepancy in how. you hear. what you would like to do you a company where you have the. union are getting poorer working i'm not going to. conny in banks all throughout the year and. i think they're going to continue on the. margins are going really starting to try and get countries like germany that run budget surplus to do more in terms of the name and a lot of. countries there are spending as much as they can but i think that's where and that's really markets are going looking her diplomatic our political. hope her do something about markets are you really wasn't able to do i. mean just to do any of their reporting from frankfurt all right we're talking about some of the other stories making news around the world and i've been on the banks have rio grande for the 1st time in 2 weeks following a wave