Take a trip to a world of boundless ambition. Meet young entrepreneurs eager to turkle global challenges. Join which of thats not german entrepreneur award winner two thousand and fifteen and she travels to enjoy looking for the next big business idea. Pick a troubling you really are passionate about because youre going to stick to this for a long time on and its something you dont really like them its hard to keep on pressing our ten part series founders valley starting october twenty third on w. At the. Spanish stocks news that catalonia wants to talk before declaring independence the relief also pushes the euro to a two week high but analysts remain wary. Also coming up calls it useless but business is points to the merits of the north American Free trade agreement the fourth round of really go see a sions begin today. Scrapping diesel cost a safe environment a good idea or a waste of resources. Welcome to do business independence yes but not yet that was the message Catalan Leader carlos them all sent out last night and it was a message well received by investors Catalan Leaders said they were suspending their bid to for independence equities jobs by one and a half percent on madrids ibex index of spanish blue chips shares in catalonia bangs shot up by over two percent after two of them incorporated outside of the region in the event that it broke from spain many catalan businesses remain on the alert to zero and they say they will swiftly. Leave the region if independence blocks them from trading advantages provided by the e. U. And the whole of their house traders abroad just as worried spanish Prime Minister mariano hawley has called on the catalan Regional Government to clarify whether it has declared independence or not. According to the evil institutes Monthly Service spain and catalonia already weighed on german Business Sentiment and were joined now by the institutes president claimants foods good to have you with us we know that manuel the whole the spanish president is speaking right now at the moment though was still in the unclear after last nights speech i mean what do you make of all that. I think this is a very smart strategy by the Catalan Government they have put the Spanish Government into a situation while they can hardly reject dialogue so this is a difficult situation for the Spanish Government it will be very hard for them to say you know we are not going to negotiate so i think there will be talks maybe the Spanish Government will say you know first of all it should be clarified that there will be no declaration of independence but its a difficult situation here we were just hearing that as a whole he said he wants clarification of what exactly the catalan president meant do you think that bad opens the room for negotiations no. Well there certainly will be negotiations of course the Spanish Government wants to know are these negotiations about independence which they would reject or are these negotiations about greater autonomy within the constitutional framework of spain the only thing that is possible would be talking about greater autonomy within the Spanish National state i mean at the moment what do you say what impact do those separatist movements are that we see in catalonia but also in other parts of europe breaks it to name only one what impact do they have on the success of the european Single Market. If these countries are regions leave the european Single Market the benefit for everyone remaining there will be small i mean brics it is almost britain is almost one fifth of the e. U. Economically so brags that if britain leaves the Single Market the benefit to the rest of the Second Market will be smaller catalonia is smaller but still you know if they leave and maybe others follow the impact will be a clearly negative of course the key question is after leaving spain could catalonia stay within the Single Market many people in catalonia think they can they should be skeptical because spain would have to agree to that and we see in the breadth of negotiations there you know just leaving leaving the you means you know leaving the internal market well and as part of Spain Catalonia unlike britain is of course also part of the eurozone do you think that the blocs currency is stable enough to cope with disruptions like like the ones that we witnessed now. The euro zone would be stable enough to absorb an exit of catalonia the question is what catalonia wardour because catalonia would have to introduce a new currency which is very difficult you know they dont have a central bank so there would be a huge challenge as soon as they declare independence they are no longer a member of the e. U. Or the euro zone thats why its clearly in our exit is only possible without massive disruptions if there is a longer phase preparing the transition claimants because they have president of the evil institute thank you so much for taking the time to speak to us thank you. Well friction economic friction not just in europe but also in america canada us Prime MinisterJustin Trudeau is headed for washington for the fourth round of talks to revamp the north american trade pact today is this it comes as u. S. President s donald trump again signals the deal is doomed he wants to bring back production to the United States but many businesses warn that terminating the agreement would be bad for all involved. Renegotiating nafta isnt easy last evening the u. S. President sought out allies the Stanley Cup WinningIce Hockey Team the Pittsburgh Penguins were guests at the white house he jokingly urged the club owners to jump into the nafta bandwagon i really mean that if you want to get involved in negotiating nafta i like it because were renegotiating nafta iran. Because he may not like that because maybe hes on the other side thats whats happening thats why its so hard to redo these trade deals because theres so many other but you know out of the other side of nafta. In the Mexican Senate the foreign minister made it clear that his government is not in a joking mood when it comes to the agreement. That we cant allow the Free Trade Agreement to stop being for free traders if red tape restrictions Administration Tariffs and barriers are introduced this defeats the purpose of the agreement that doesnt suit mexico we have to be prepared to say no mexico is bigger than nafta. An agreement that took twenty years to negotiate its hard to renegotiate but mexico would be willing to try still mexican negotiators want to avoid the new tariffs that trump suggested to prevent companies from leaving mexico for the u. S. Not many support transposition even the powerful american lobbying organization the u. S. Chamber of commerce is turning its back. Weve been patient headed and constructive but let me right now be possible and direct there are several several. Proposals still on the table that could. Deal and that could mean deep trouble for the economy canada the usa and mexico are each others most important trading partners and for Many Companies there is no plan b. The nafta agreement is vital for their survival. The rush of fresh records the seen on Global Stock Markets in the last couple of weeks has spread to japan tokyos benchmark index is reaching the highest level in twenty years on monday the nikkei jumped only a fraction of a percent but that put it at twenty thousand eight hundred and eighty one the best finish since one thousand nine hundred six industry in japan is reporting strong profits suggesting the worlds number three economy is surging once again blue chips in tokyo had to drop to surprising lowest after britains breaks it vote and shares in chinas great wall motor shot up by nearly twenty percent in hong kong today as room us as well to that it was about to enter a joint venture with germanys b. M. W. Neither companies are commenting that b. M. W. Already makes cars in china through its joint venture with Brilliance China Automotive Holdings heavy pollution has forced beijing to loosen rules for joint ventures with Foreign Companies in the hopes of quickly phasing in electric and hybrid engine technology. Announced an electric car offensive just last month here in germany. Now german car makers are offering Cash Incentives for scrapping diesels and buying new vehicles that pollute less sounds like it would be good for the environment but is it we took a closer look. Another opal bites the dust. On average an opel is on the road for eighteen years before it scrapped other makes of cars even more robust. But Car Manufacturers in germany are offering Cash Incentives to people who want to scrap the old diesels and buy new cars that pollute less there are more than six million candidates for this special treatment. Economist henning fitz has published a study on incentives to scrap old cars if we scrap cars it could run for quite a while longer and we invest so many resources in these products that it makes no sense to just throw them away. His institute has worked out that two thirds of the Natural Resources that go into an average compact car are used for its manufacture the remaining third maybe fuel is consumed while driving it over its average lifespan that adds up to nearly thirty five tons of resources for a car that weighs just one and a half tons the largest single item is energy followed by metal. With people here are concerned about the level of pollution where they live the resources we used to make and run a car come from all over the world but that doesnt interest them so much nonetheless over the long term its much more important to conserve those resources. The Auto Industry rarely talks about all the resources it consumes germanys Automotive Industry association the vdare would rather point out how the latest models pollute the air less than older ones incentives to scrap old cars maybe Good Business for scrap merchants but decommissioning aging diesels before that time seems like a waste of precious and finite Natural Resources. Well thats the Business Update here on do w. Ill have more for you in the next hour for now though thanks for keeping me company. On a bike along the river elbe nicole furley can play my game is becoming more and more popular especially for tori so naturally im really excited about todays along the algorithm for biking along one of the most varied paths in europe. Heres the challenge to discover nature and culture using muscle power. Coolly flossy he doesnt use christina q does needs powerful and influential women. In the receive for success. 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