Aims to solve the countrys credit crisis by providing debt relief on a large scale but actually drives millions of people into the arms of loan sharks can tell you why. But come to do that you business live from berlin i want to jones good to have you with us well the new week starts upbeat for asian markets one fact of boosting shares of the local elections in hong kong the exchange there searched 1. 8 percent following news prodemocracy condit days headed for a huge win and shares have also swung outwards after beijing offered an apparent olive branch in the long run in china u. S. Trade talks over the weekend to beijing an ounce to hike penalties on violations of intellectual Property Rights the ip issue has been a major Sticking Point for the United States in the talks and agreement on it is seen as key. To this excess. Of one want to bring in a Financial Market correspondent whos done it by for us in france footsteps really the ip issue has been seen as key for a phase 2 deal between the United States and china we still havent gotten the phase one deal dont we any closer to that now no were not any closer at all to the phase one deal but you know this all of branches you say on intellectual property does all of your well for the meaningful step that the chinese are taking and reaching out to their trading partners not only in the United States but its a signal thats being heard in your appear as well where practically all the companies who have dealings with china who manufacture there or sell there are complaining about ip and french months but no phase one is not any closer even though chinese chinas president xi jinping just before the weekend said that on the one hand they want to avoid a trade war but theyre ready to retaliate if needed and that sends a mixed signal and donald trump is full of tweets with mixed signals still ok in another mixed signal or a straightforward one perhaps is that beijing never tires of saying that its actually donald trump who needs the deal because he faces reelection next year while beijing has all the time in the world that doesnt really instill confidence does it. No but you know as in german we say it doesnt quite translate into the english but the chinese are whistling in the woods here basically they have the same problem as donald trump because you can see the effect that the trade conflict is having already and China Economic growth is slowing there not only because of the trade there are other issues like the maturing chinese economy at play there here but both need to deal more and more people i talked to here in frankfurt here in the Financial Center of europe say though or germany for the for that matter say the trump might want to wait until just before the u. S. Election in order to get in front of this deal in terms of voter voter votes. There reporting for us from frankfurt thank you so much for that. So the association off Southeast Asian nations has kicked off in busan the summit is hosted by south korean president moon jane and brings together the leaders of the 10 member nations these are brunei cambodia and tunisia house malaysia myanmar the philippines singapore thailand and vietnam the Moon Administration has unveiled a socalled new cellphone policy which i am stupid Economic Cooperation with india and countries the aim is to strengthen ties to counter the negative impact of the ongoing us china trade dispute. And i was with some of the other Global Business stories making news. Amazon is opening a pop up store on chinese ecommerce platform a p nor do they need to go off around 8000. 00 overseas products amazon has struggled to gain a foothold in the worlds 2nd largest economy its close its marketplace there in july ecommerce in china is dominated by homegrown players like ali baba and j. D. Dot com. Tesla has received nearly 150000 orders for its new electric pickup trucks despite an embarrassing launch last week the much hyped a unveiling that went off script when the cyber drugs windows splintered twice this bragging about the strength of the class as a Share Price Fell 6 percent after the launch. While then 100. 00 died in protest against fuel price hikes across iran thats according to Amnesty International and about a 1000. 00 demonstrators were arrested say iranian authorities tehran restores the internet so after week long Government Shutdown the scale of the countrys crisis becomes visible and for iranian business its time to take stock and pick up the pieces. The iranian government says 450 Bank Branches were destroyed in protests that hit more than 100 towns and cities with damage amounting to 700000000 euro as the rest was triggered by government imposed gasoline rationing in price hikes ordinary iranians especially young people vented their anger on the street. People filmed the protests and sent the pictures to their friends pictures that were not shown on state television. Authorities responded by shutting off Internet Access abroad for days iran was offline to the rest of the world. Bad for freedom of expression but also for the economy as one official admitted to use some businesses of lost profits as a result of cutting off the internet a decision will be made in compensation for their losses after the Current Situation is over. But for many iranians Living Conditions have been worsening steadily in recent years so much so that fresh protests cant be ruled out. As yet im a shitty. In terms of our livelihood our income has not changed the toll one has in all. My might and im against it are costs of tripled or quadrupled which puts people under serious pressure. Especially the working class. People are under a lot of economic pressure. And if it continues like this it will be really hard to manage the cost of living. Compounding the pressure is the recent slump in the real the government has taken measures to prop up the currency but for oil revenues are down due to punishing u. S. Sanctions its a downward spiral from which there seems to be no escape route. South africans are being crushed under the weight of person adepts the National Amendment bill is meant to east by offering write offs of banks are against the bill saying it will make it harder for low income people to find credit in the future. Private lending in soweto is dominated by a network of illegal loan sharks known as smash and he says they challenge Interest Rates as high as 50 percent. Margin mcgeady suffers from a chronic lung disease and urgently needs money to see a doctor. The 42 year old racked up substantial credit card debts and then lost her job. And now whenever she needs extra cash she has to come here. Having to go into this like pulling money like 1st we know its illegal but. You dont have a choice and things dont always work out doing one thing to. Make sure they need to do can do for. Most mashonee says are not evil criminals preying on the vulnerable they often live on the same street as their customers and provide easy access to credit when cash is needed without the lengthy application process required by formal lenders. Sisters and palacio economic our Business Partners who usually are 1st small loans ranging from 10 to 100 euros. They say lending money is a risky business. It sometimes calls for tough action if the loan is not paid back. Then you take the t. V. Something that will. Be made into them and that will be demanding that the. Then if you still get my money it is not. To me then and so whatever i took to recover my mind. Their business may see more clients in future now that the Controversial National credit Amendment Bill has been signed into law it will provide debt relief to those on a low income but managing director of the south African Banking association cask believes the bill will do anything but bring relief he fears it could cost banks up to a 1000000000. 00 euros and ultimately deny the poor access to formal credit channels. If either expand it obviously the cost of the banks and the banks pay that and thats the key to what brings a risk into the system that is what brings uncertainty into the system as a result of that bank for a contract. In that particular market so. The brand is a the bond by the low income borrowers more than anyone else. Credit institutes have already announced that they will toughen credit regulations for the income customers. However while the legislation may push many into the arms of mush and he says moderately good he hopes it will be implemented soon. So we could be in case but it can be such a relief. To fix the state for the pings. It is tough really tough for most of. The National CreditAmendment Bill is set to be fully effective by january 2021 which gives banks plenty of time to negotiate with the government and potentially make it palatable. Change of pace into an industry that doesnt need to worry about debt too much in a 16200000000. 00 deal french luxury goods kong long range l b m 8 vetoing way and a c. Is spying on us to let tiffany take over is said to strengthen both companies tiffany has been training competitors in recent years and b. And h. Hopes to boost its presence in the United States l b a major brands include dior and analysts say the addition of tiffany will make it to the Global Market leader in luxury jewelry. Business update on thanks for watching. Thank you from the book you are no one. Could go learn from your local me for. Exposing and justice global news that matters to. Minds. With him how to be to go so wrong as well biased i know if i had known that the boat would be about small i never would have gone on the trip i would not have put myself and my parents in. Part of the deal with the to get a flavor of. One sunday because that one little bit of the given that i have Serious Problems on a personal level and i was unable to live there whether thats going to. You want to know their story in full migrants terrified and reliable information for margarets. I had a really hard time in school. Emma norris is dyslexic and was always an outsider at school. But thats all supposed to change now that shes attending the 1st to school of afterschool and in holborow denmark. Each week a new role play is part of the curriculum every few pull takes part and its incorporated into every subject the schools concept no student gets left behind. And. Now that i can have some food oh sure some of the baroness 1st. The schools 85 pupils and their teachers stay in the game they remain in character even while eating lunch their current role play is called the testament and english teacher plays the pastor has his punishment is a pardon amen. Thats why all this. Woman was had such a great childhood and shes invited to this whole family party but the family does not know why they are invited they dont know any but. The elderly baroness westfield also played by a teacher has invited her relatives to visit her one last time