The new Turkish Central Bank chief turn out to be president pull. Its. Existing business on. Facebook shares have been rising in extended trading after. Beating 2nd quarter revenues of almost 17000000000. 00 this just hours after u. S. Authorities hit the social network with a spectacular find the u. S. Federal trade commission ordered facebook to pay 5000000000. 00 over its failure to protect use a date of the f. T. C. Also meant mandates at the network to set up an independent committee to oversee its Privacy Policy c. E. O. Mark zuckerberg says his company was in the process of making major changes that signal a quote new chapter for facebook. He is standing by in frankfurt chelsea weve 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. Thats 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 isnt having a huge impact though as facebook and i 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 like a park responsible but there had been. Floating around about facebook was going to have to sort of stop collecting user data in the same way really theyre sort of getting away with keeping their Main Business in line here so theres actually some relief among investors just about the conditions of the settlement well despite the fines shows with the coincidence criticism of young people a gruesome turning away from facebook stalking more than 50 percent so far this year while investors still loving facebook so much. Will facebook just continues to post really strong numbers in this in this 2nd quarter their revenue is up almost 30 percent thats pretty normal for facebook they have continuously posted double digit Revenue Growth theyre still adding users theyre still seeing advertising growth so even even with all of these perception problems their business is still growing very quickly so investors are really focusing on not rather than these regulatory concerns so its a dilemma in front of thank you very much. To britain over the keys to 10 downing street have officially been handed to Boris Johnson the mark to 1st day as a Prime Minister with an overhaul of the cabinet model key appointments is suggested chivvied he was a banker before he was a politician and now hell run the treasury as chancellor of the exchequer thats what the british call the finance minister he will guide the british economy through breaks it and possibly one without a deal with the e. U. Even though heartbreaks it is something many businesses on both sides of the channel say they want to avoid. Embarrassment could be the least the u. K. Has to worry about the doomsayers of its economy a proven right on the day that Boris Johnson gets to work on his promise to deliver bricks it within a few months trading partners are warning him to go gently. German Business Leaders point out that even under his previous essay to resume a trade between the 2 countries had been falling figures put the decline in u. K. Exports to germany and more than 6 percent between january and may the United Kingdom used to be the number 5 trade partner of germany and last year this fall down to number 6 and this year also to number 7 so there is not directed at all and we can already see the negative impacts reacting to Boris Johnsons victory in the conservative leadership vote on tuesday the World Trade Organization said it wanted to see the smoothest possible breaks it pointing out the e. U. Accounts for 47 percent of u. K. Exports having been elected by tory members impatient to get out of the European Union Boris Johnson will be considering who to listen to. And now to some of the other business stories making headlines today regulators in the us seem to be set to approve a merger between german own steam mobile usa and sprint according to media reports the 2 Companies Americas 3rd and 4th largest mobile phone Networks Shares in Japan Softbank which owns sprint rose on the news. Mis on says it plans to slash more than 12000. 00 jobs over 3 years this 110th of its Global Workforce is with sales hit by scandal surrounding its former chairman colleague own japanese carmaker says it will also cut production by 10 percent. Tesla has again pushed back to the end of this year. Its target for reaching profitability in all must Company Reported as 2nd quarter loss of 408000000. 00 that was worse than expected but an improvement on the previous quarters loss of 700000000. 00. Is a heat record here in germany and no rain is in sight thats a problem for many farmers its another year of struggling with droughts throughout germany farmers are expecting a bad Grain Harvest the eastern state of book the situation is especially. Its hot and dry here in eastern brandenburg and it has been for weeks the farmers dont know harvesting as fast as they can before their crops are ruined theyve been at it for more than 12 hours. On we have to start early and work as long as possible into the evenings. Theme of advanced office a farmer and he isnt pleased this year like last year he estimates his right harvest will be far below average due to the long dry spell the smaller plans cant even be used but. I think one of the heads may be big but there wasnt enough water to form the roots theres nothing up there its empty and thats the problem this year i assume that 30 to 40 percent of the heads are empty and it was like that last year too that makes it even worse and its the law. And its the ride that survives the heat the best he says at the moment it looks even worse for wheat it hasnt affected every farmer but most. Will see the weather extremes sooner and stronger in brandenburg it may not be the case in other german states but when it comes to drought were the 1st to feel the pinch. The farmers here have been struggling with extreme weather for years this used to be potato country today the tubers no longer grow in the dry sandy soil here more resistant strains might be the solution when all missing the wheat farmers have to look outwards we have to adapt our past planting goals to the demands we have now and the climate conditions today that means we have to develop tolerance strains and thats the problem we face to counteract both floods and droughts. Its avoiding too few of us or. If you talk then doth doesnt want to complain the harvest hasnt been bad everywhere but if the weather in brandenburg continues to worsen well need more robust breeds that can adapt to Climate Change it seems the only way theyll be able to survive. To turkey now where the central bank is expected to make a statement about Interest Rates later today to out investors and analysts are watching with keen interest because just over 2 weeks ago the turkish president at a bonfire of the central by chief because he had refused to follow his demands for lower rates some say as a point the Interest Rate is currently set at a whopping 24 percent but its a dangerous day investors see a truly independent central bank as vital for a stable economy at a one though doesnt seem to care. From brand new subway lines to the inauguration of a new bridge across the boss bruce and a gigantic mosque wretched type everyone is keen to work with supreme always eager to praise turkey and its economic might. But the country has been experiencing a long term slowdown a major factor has been investors scared off by the countrys worsening image on human rights the lira has been on a turbulent ride over the last few years. But everyone hasnt been slow to lay the blame and recently attacked the central bank for failing to lower Interest Rates so you would buy stuff for years then you. Heard today was a person who was not conforming to instructions given on the subject of Monetary Policy this mother of all evil called Interest Rates. We believed at the time person had to be changed. Its almost. The banks governor who had repeatedly resisted such instructions was sacked earlier this month his relation and is considered a loyal heir to one supporter its a move that has added to growing uncertainty on the financial markets. Im now joined by john hes an economist at the economics with the think tank this is a president and one pushes for Interest Rate cuts most economists say that is dangerous whats your view. Well from a technical point to feel i mean if you look at the latest Inflation Numbers and if you look at the latest Interest Rate it appears that from a technical point of view there is indeed margin for decreasing Interest Rates a bit however it you know is you know the decision is not solely take think oh its also lies you know has cost of the fact that it turkey still has many vulnerabilities bought from a real sector is foreign to donate their perspective but also from a Foreign Policy perspective so all in all i think there is room for a. Piece in Interest Rates but i doubt that it will create the kind of impact that station is expecting and it this relationship between Interest Rate then inflation and in the direction in which their station thinks they impact each other i think theres a fundamental flaw in the. Johnson thank you very much. Thats it for me and the Business Team here and thank you very much for watching. Jemmett. At any time any place using names video mail is kept out of the crowd. To sing along to those to come from super. Interactive exercises. Everything is online and interactive in german for free with d. W. How about taking a few risks you could even take a chance on. Dont expect a happy ending. Lets just. Say. Greetings from berlin and a warm welcome to todays edition of arts and culture well theres still time to brush up your summer wardrobe and so today well get a handle on whats hot for gents with a fashion sense and also coming up on todays show. Rachel stewart from meet the germans takes us through the in outs and peculiarities of the German Health care system. And we discover the hidden citynet lying underneath the italian capital rome. Well it is summer in the city and i have to say this here it is a scorcher here in berlin women of course have many many options in their summer wardrobes to keep cool but the guys seem to be generally a bit more limited or are they we checked out what mens fashion has to offer this summer. This summer on the message for fashion savvy men is to be different step out of your comfort zone and dont be afraid. I think for the summer men are going to have a lot more fun theyre wearing more colors there are being much more down. There showing. And the
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