but also in california in china in france so around the world what is small sum is the small and medium enterprises and we see in our data as it so far they did not invest as much as they should have done in training the people retraining them and also in research and development so maybe that's kind of supposed to think we are going to be made was that because the economy was booming there of time to do it so maybe you know with going in a downturn that that will help to really focus on what's coming up in the next years. well thank you professor hakim from back from said a w. the economic think tank here in germany and that's it from me and the business team here in berlin for more from us you can find us on our web site w dot com slash business thanks for joining us. where i come from we have to fight for a free press and was born and raised in the meantime dictatorship with just one to the shadow and if you newspapers one official information as a journalist i have more of the strength of many cantrips and their problems are all the same 14 social inequality a lack of the freedom of the press a

small medium enterprises now they let it out to property speculators yes people are buying expensive artwork yes or they put it back on the balance year the fed for an interest rate right so again if the circle is extremely tight it's a wide circle of the entire economy it's a little minuscule microsurgical like the tip of your pinky where the money is circulating only amongst 3 or 4 people and they keep getting wealthier and wealthier and that's why we re dahlia points out the tipping point of huge revolutionary social unrest yeah because also of course what happens is. all this stuff all of our economic problems are caused by these economists at the central banks is this false thinking that somehow they are superior and understand the world better than all these schmucks out here in the world in the real world so that is part of one issue that central bankers and bankers have is that if that money does circulate down and ordinary people the bottom 99 percent start raising their living standards they freak out like that is the scariest thing to them and they think that it's going to

you're still referred to as n s m e because small medium enterprise why do you think that's so. i don't really know i just think of them with 55000 employees you're not really a medium enterprise anymore you're in another league and then. we're back at manager magazine in hand with a special issue of being selected. the list of the richest germans includes a notably high number of company owners from the so-called medium sized businesses . it's a german peculiarity and it's not the only one. cover story for this current issue is that last year money rained down on germany's super rich. here we have the chef loves the matriarch and her son who now owns 80 percent mom has kept only 20 scheffler sabine at the top of our list for many many years i would have to check exactly how much they're worth but around 20000000000 give or take a bit. you know down here we have missed bargewell task in the head of the henkel clan she's the 1st and so far only woman chairman of the supervisory board of one of the 30 tax companies. germany's economy is still extremely mild dominated and what's in

for small and medium enterprises, that is really difficult. laura: thank you. we are not -- we are now going to go to manchester to listen to boris johnson. makingnson: they are capital and new technology. out of the e.u., we can do free ports, use tax regimes. the cruel shipment of live animals. [applause] mr. johnson: and yes, we will have those free-trade deals. you -- tire of telling just in the last few months,s, i have seen a shipbuilder that exports catamarans to mexico. cd's tot jason donovan north korea, if you can believe it. and we export this nigel faraj re-feed to north america -- nigel farage re-feed to north america. [laughter] mr. johnson: anybody who travels abroad or across the world, there are countries that are yearning to engage with us, where we have old friendships and burgeoning new partnerships. and particularly in the .ommonwealth heckling from the front, interjecting from the front. you are quite right, the commonwealth, two point 4 billion people, the fastest-growing economies in the world. amazing opportunities. [applause] mr. johns

machinery industry considerably more than in the car industry many of them work for small and medium sized enterprises such as the folks company in berlin with just 4 employees the firm makes specialized machinery for materials testing it has a narrow range of products but until now the order books were always full today orders are stagnating although the owner remains cautiously optimistic still to its current we're not expecting any great increases but i'm confident that our business will not dramatically declined to almost a stop most other firms are less confident and germany's mechanical engineering industry association says orders are also being pushed down by the trade dispute between the u.s. and china both important markets for the sector and loosen but what we need is trade agreements with other markets such as the free trade agreement with marcos or the south american trade blog or with canada catchwords we really have to push that kind of thing forward. neither of those 2 trade agreements have been ratified and they look set to take a while but sheet metal processor busy doubly new orders

small the medium enterprises then you might get an uptick in the economy but it keeps going to the zombie banks of course that that's the only people that get access to fed funds i was the people to do borrow fed funds well no do you get your mortgage in fed funds rate no everybody else has the problem that the banks borrow from the fed and buy treasuries that is a risk list trade they levered up you know $1112.00 times j.p. morgan last year had 0 negative trading days. trading implies taking risk you can't have 0 negative trading to as well because they're not trading they're just levering of treasuries so it's all a big ball of bank in kabul and the problem is it's run by the bankers themselves right the people who control the central bank are the heads of j.p. morgan goldman sachs morgan stanley city you know the new york fed and the treasury so those 6 people as i like to talk to about them the plunge protection team you know they get together on sunday nights and they decide who they're going to bail out they bail out their friends and their cohorts the banks and therefore banks then

constitution in 2008 was basically a new correlation of forces between workers student small and medium business enterprises nationalist enterprises and industry and all over its center to left movements that got together to basically change the ecuadorian development model into what's known as win beat or good living but because of attrition and also because of perp. full divisions that where financed by transnational imperialistic firms especially led to an attrition that weakened the social movement fortunately and this is something the i.m.f. is very good at is getting together this 2008 coalition again with indigenous movement with the workers with progressive i could there makes an intellectuals into what may become a new coalition to bring back that development bottle that was abandoned by what i know in a similar fashion as to what the fed and this is just did in argentina by bringing back the old national popular coalition in argentina in comparison there and on the i.m.f. agreement that seemed to cause a trouble here can you tell us about some of the specifics and how it specifically contributed t

say i am a small or medium—sized enterprise and you are advising them, how would this help the companyoking to grow their business and they have access to information, it is great to get insight into trends and understand what type of customers are buying what type of products and maybe what the buying patterns are that they have. if you can give more timely marketing messages that are really relevant, rather than spamming them. if you are an air travel company and you understand that a particular family has a holiday at a certain time of year but they probably purchase that three months before, and you send a timely email to them with a promotion for example, the impact of that message might be greater. you mentioned gdpr, the legislation that came into effect across europe in may last year, which meant that companies now have a legal duty to use our data correctly. that is the real worry for all of us. since the cambridge analytica scandal with facebook and many other breaches of data, all sorts of companies like british airways, you know... google... british airways, you know... goo

has led $400k billion to small and medium-size enterprises.ys that growth remains particularly strong as the western region and central regions of china develop using technology to move up the supply chain. he's not overly concerned about the strength of the consumer. he does have a pretty good oversight in the data. e-commerce,border as well so he says he is relatively optimistic about developments in the trade war and the upgrade in terms of technology and manufacturing will help lift. relatively confident at this stage in terms of where china's consumer goes from here. tom mackenzie, our coanchor joining us with that interview. phase of thest china-u.s. trade war is raising questions and so far, very few answers. only key part of the talks, food purchases. we will talk about china's pledge to boost farm orders next. this is bloomberg. ♪ rishaad: u.s. meat companies changing how they source pigs to target demand from china. african swine fever put a big hit on pork. this comes against the backdrop of pork price inflation surging, 70% was the

resources outsourcing division and we learned about help nly business formation among small and medium size enterprises. they delivered a solid top and bottom line beat, even better, management raised their full year forecast slightly that is how the stock was able to rally 1.8%. then a hideous tape. it got a bountiful 3% yield. check in with the president and ceo of paychecks to get a better sense of the quarter and the company's prospect welcome back to "mad money." i'm going to say, you know i think the analysts that cover you and are negative are wrong the headline is results better than feared. marty, the results were good who is fearing these results given the fact you've been putting up incredible numbers for years now. >> i don't know, jim we had a solid first quarter it carried through if last year. 15% revenue growth part of that from our oasis acquisition. we had 9% operating income growth really felt good particularly about our mid market sales and our repositioning of the company for technology and h.r. focus. >> one thing that we have -- well, no the just our network, but everybody, paper

you go along the border counties and you see how those communities are reliant on sme's, small and medium enterprisesoducts, and adding value and supply chains. a hard border for a customs border oror a customs withorder of yesteryear military checks simply is not feasible. anna: boris johnson's plan is not talking about that. he is talking about customs checks that may be done by mobile units and some use of technology to survey the area, but not going back to the infrastructure you described. given what you said about the backstop, what it be possible to have a time-limited backstop? niall: when the time runs out, what comes in its place? that has not been addressed. this is part of the problem that particulate and in terms of everything boris johnson is proposing, no details. technological solutions, mobile within factory precedent, this does not give us any degree of confidence that it would work. in the absence of that, we fall back to the agreement that the e.u. 27 made with theresa may and her government, of course which boris johnson was part of at the time, and that was the backstop that avo

how can small to medium-sized enterprises survive in the world's highest retail rent market?ugh shoppers are not coming in. some interesting comments coming overnight from the likes of kyle bass, the hedge fund manager and founder of payment capital management. he is saying hong kong faces a severe economic decline. he is betting on a breakup of whichng kong dollar pick has underpinned this hong kong economy for more than three decades. in fx reserves will worsen september, he is saying. in the next 12-18 months, capital investment will flee. we will see fx reserves worsen over that time frame. on that point, i want to bring up comments from the incoming chief executive of the hong kong monetary authority. he says, his key priority is to andtain monetary stability the foundation of that monetary stability is the u.s. hong kong dollar pick. what about the government response more broadly with low-end unrest? more measures are being considered, right? >> i would hope so. i would think so. that the government would be exploring every option right now on the table, especially aft

lending conditions and will continue to support access to financing, in particular for small and medium-sized enterprisesthe outcome of economic analysis with the signals coming from the monetary analysis confirms an ample degree of monetary accommodation still necessary for the continued sustained convergence of inflation to levels that are below close to 2% over the medium-term. reap the full benefits from the policy measures other policy areas must contribute more seismically to raising the longer-term growth potential supporting aggregate demand that the juncture and reducing vulnerabilities. the implementation of structure of policies and euro area countries needs to be substantially spat up to boost -- sped up to boost productivity and growth potential, reduce structural unemployment and increase resilience. countries specific recommendations should serve as a relevant signpost. policies withal mildly expansionary urea area stance is providing some support to economic activity. in view of the weakening economic outlook and the continued prominence of downside risk, governments with physical space s

steps taken by the government so far, the measures they've taken to help especially small and medium sized enterpriseswhat banks are doing on the monetary side won't be sufficient or won't be enough. they'll have to unveil pretty major hefty targeted at the pocket type stimulus overcoming months -- [indiscernible] -- floor to where the economy's going. i think the policy response so far clearly has been inadequate , kind of shock that the economy is experiencing. paul: and we could have another measure of that shock today. hong kong retail sales due. what are we expecting? >> we've already seen a record drop on retail sales in recent months. there is no sense of return there -- turn-around there. on the one hand you have the social unrest and protests on the ground. clearly impacting sentiment. impacting spending patterns. impacting the opening times of the stores and the public transport system, all of which plays a factor in the net aggregate demand. we saw private consumption demand fall 3% in the third quarter. we have the slowdown of the china to contend with. china tourism is a huge thing here i

while large enterprise moved along, small and medium sized companies have a hard time growing. they don't invest in information technology, and they transact little across borders. after 18 months of the gdpr in effect, we can see the largest advertising platforms have gained market share, while their fledging rivals have lost ground. gdpr imposes a set of fixed cross across all enterprises. only the largest players can afford the costly requirements of lawyers' fees, chief privacy officers, audits, impact assessments, software updates and so on. less than half of all companies can comply. one fifth of companies will never comply. consumers are no better off. online trust is at its lowest point since 2006. the united states welcomed 40,000 new internet startups last year alone. we have been fortunate to have a single national market from our founding, and a 220 year tradition of carefully constructive bottom up privacy rules that were democratically decided and based upon real world harms. the ccpa with its 77 regulation on enterprise has 22 more obligations than the gdpr. the