A message that the European Commission will not tolerate at a competitive behavior. Today the commission has decided to fine seven companies a total of five hundred sixty four Million Euros for taking part in fort different cartels relating to cars. Three other Companies Involved in these cartels well they excrete. Getting a fine because they came to us to reveal the cartels in the shipping industry the fines affected chilean car shipping carrier three japanese carriers as well as a norwegian swedish carrier together they formed a deep sea vehicle transport cartel for almost six years. In the Automotive Parts industry germanys bosher into Japanese Companies ran a cartel supplying spark plugs to european car makers bosh. Is also involved in running another cartel fixing brake system crisis. Companies can escape fines through the e. U. Commissions leniency policy which encourages companies to hand over inside evidence of cartels a system which in the cases announced wednesday proved to be effective and. Whats shaking the markets today time to cross over to sophia she months on wall street for us there is there she is hello sophie all eyes were on the fed minutes being published today what to invest making of it what are they reading into that information. A lot they have been watching them as closely as they were hoping to get some clues out of it some hints towards the feds Monetary Policy and they did the fed seems to be happy with how the American Economy is doing they ignore all of a stronger than expected growth and the larger impact of tax cuts on the American Economy in the short term so all signs are pointing to more radar high heads the fed is likely to raise rates at its next meeting and march will will which will be the first left by the new chairman by the way Jerome Powell and the main question investors have focused more attention on as whether the fed will move faster meaning add an extra rate increase this year and even more next year and the end through largely turns on inflation then theres a lot of volatility in the markets is this a reason to cheer or to be cautious. While the sentiment is closely intertwined at the moment with the Monetary Policy of the fed and to be honest funny the markets reaction to these minutes were not really surprising as to raising rates are not necessarily a thing and vestas are in favor for it so the dow and the indices were down for the day wall street has been focused on the place in since this meeting in january and concerns about stronger inflation hence the higher Interest Rates actually cost the stock market to dive into correction in the first days of this month so investors fear that high rates are going to cut into companies that profit so if she wants to thank you so much for your reporting. The European Central bank has remained silent i mean accusations of Money Laundering at lunch vs a third biggest bank a. B. L. The now the latvian president behold this has weighed in saying his country must improve its efforts to tackle Money Laundering and corruption bankers in the country are calling on the e. C. B. To step in and sort out the unfolding banking scandal. The European CentralBank Governing Council met today with absentee. President bill mahers from savage still embroiled in a Corruption Scandal and pressure is mounting on the e. C. B. To formulate a response for his part montagne his innocence hes called allegations that he solicited one hundred thousand euros a month in bribes a Smear Campaign leveled against him by banks angered by tougher financial regulations he cant work all the probe is ongoing but he cant be fired either hes ignoring calls to resign. And not to resign today because im not guilty because its the aim of mud slingers for me to resign and to prevent me from being able to defend myself im afraid that the Legal Proceedings would last for many years and i would not have a quick and fair judgement. The e. C. B. Is also being called upon to respond to a crisis snowballing in lender in. Its facing Money Laundering allegations the lab and commercial Banking Association urged the e. C. B. To help mitigate the chaos but so far the eurozone Central Banking Authority has been quiet. South africans are facing the first sales tax hike since apartheid its put a bit of a damper on the way for hope they have been driving following president takeover just last week from the scandal plagued previous sesar the countrys finance minister. Sad raising the value added tax by a percentage point to fifteen percent was unavoidable in the face of recession the move comes ahead of elections next year increasing pressure on the countrys ruling party to make sure the unpopular sales tax hike helps towards turning the economy around. Everyone used to vary about the good obes all reserves running out now the industry fears the unmanned will start drying up so what b. P. Reckons it will be it will begin a plateau ing in the late twentys to thirtys as Renewables Take over Automotive Companies around the world are betting on the mass adoption of electric vehicles in the next decades and theyre not the only ones oil and gas giant b. P. Is anticipating the same it predicts a one hundred fold growth in electric vehicles by twenty forty and a corresponding hit to the worlds oil and gas sector b. P. Forecasts continuing growth in Global Demand for oil and other liquid fuel in the next years but back to manage is said to stop increasing after it hits one hundred ten Million Barrels a day in the late twenty thirty s. Its the first time b. P. Has forecast a peak in the worlds appetite for oil. Its not just about electric cars increased fuel efficiency in vehicles powered by internal combustion engines is said to offset consumption to but beyond the automotive sector other factors are set to cause demand to sag like tighter regulations restricting the use of plastic as well as an expected increase in the share of renewables in the Global Energy mix to fourteen percent by twenty forty. Four years and ajax first ive been dreaming about turning the seas power into an itchy but so far only a few title power stations have been able to make a profit the name problem is that the generators are fixed to the sea floor of that makes them expensive to install and maintain but now british and german team has taken a new approach looking backward from the idea of a ships. Its freezing outside but time to hit the water for david targets scott and his colleagues in scotland the work days just beginning the tide of stream generators i knew but will they produce enough Energy Target scott has been working on the project for two years. These turbines generate electric power what special is that they are not fixed in place with this platform we can swing a turbine up out of the water we can inspect it we can see if the blades are damaged the turbine needs cleaning we can run tests on it and its completely necessary we can change our whole rotor floating tidal stream generator is one of a kind there are only a few places on the planet with tidal currents like those in call on scotlands west coast the moving water hit speeds here of up to forty Kilometers Per Hour relentlessly driving on the water propellers this is todd its caught on a german colleague a year ago still deep in the planning of the tidal generator the idea it floats on households with energy the perfect solution for the bay according to the planners they have divided the work among themselves the british team is building the steel platform kneels long as Company Shuttle is developing the generators under orders it specializes in ship engines like these pumps jets. Nearly one thousand three hundred people work for the german company. Has been using his knowledge of propellers to build the waters his team specializes in tidal energy which is relatively a new business segment for the company right now shuttle is testing whether apology narrator can withstand nonstop stresses of underwater operation in scotland he says its the most exciting project he has worked on for a long time. But almost all of us are engineers so its important for us to develop technical things it is very satisfying and also to be able to create a market maybe much like was done with wind energy twenty five. Years ago. Back in scotland the platform is already in operation and his colleagues are showing it to chinese investors they are interested in buying a tidal power station and they are impressed the platform is already producing electricity cheaper than a diesel power station its makers say but it wont be staying here very long because an Island Community in the philippines has purchased it. All right and thats your business edition for today but ill be back tomorrow same time same place thanks for watching. My first boss was the sewing machine. Where i come from women are almost by the social influence something as simple as learning how to write them by saying hope isnt easy since i was on the phone but i want to have a bicycle off my home and it took me as the money might. Finally be game and mental buying and i save those and returns with the sewing machine sewing i suppose was more appropriate for those than writing a. I want to meet shall feel. Woman back home where bones magazine and social norms and inform them about the basic rights my name is dave out of the home and i wore at subpoena. To fasten your seat belts. Look at the. If. You can. Travel garden to dublin. Climate change. Waste. Pollution safety. Isnt it time for good. Eco africa people and projects that are changing our environment for the better its up to us to make a difference lets split. The employment magazine. Long do do you