Facebook finally on feels its crypto currency so could libra transform traditional Payment Systems and will governments seek to regulated. Also on the show all eyes are on istanbul ahead of sundays mejor old election to voters punish the ruling party for turkeys economic woes. Real estate costs are skyrocketing in berlin driving the german capital to consider an unusual solution. And unlocking the hidden beauty of snails well share some surprising uses for europes liveliest cash crop. Welcome to business im Stephen Beers and glenn its good to have you with us can facebook take cryptocurrency mainstream the Worlds LargestSocial Network unveiled the digital coin it plans to roll out next year a libra is its name and proponents say it might just revolutionize digital payments
under a single streamlined currency now over a dozen global firms will invest in and govern the currency including master card vodafone and as group will supposedly wall off control of the currency from facebook itself the new coin will be pegged to a basket of global currencies such as the dollar and the euro with the intent of shielding it from the wild fluctuations that are plagued big and scared off many average investors the Big Question Will It Catch On Facebook is betting that the scale of its social Network Alone with 2400000000 monthly users will forge a new huge marketplace for Streamline Purchases and exchanges the Social Network is also says that libor will help to bridge the socalled banking gap giving the 1700000000 people around the world who do not have a bank account a secure alternative to cash so why a crypto currency heres how facebook c. E. O. Mark zuckerberg 1st publicly framed the idea a few weeks ago. I believe that it should be as easy to send money to someone as it
is to send a photo so we were already testing this and india with about a 1000000 people its been used a lot in the feedback so far is great and were already working on rolling this out in a number of other countries later this year and for more on this lets go now to our financial correspondent in new york. Yes some heady ideas there facebook thinks it has the scale to Mainstream Cryptocurrency but there are still Big Questions arent there well and one of the Big Questions certainly is how about regulatory side with the acquisition solve whats up and instagram and the positive couple of years of facebook already has become a dominant player into recently from different politicians they have been called to break up facebook and now that facebook might become one of the dominant players in
the crypto world it is hard to imagine that there will not be some regulatory scrutiny on facebook so that is one of the big ifs and then facebook itself is saying that what weve seen right now is libra its a prototype so far so lets see how this whole old thing will work in the next couple of months to come so you know the Excitement 1st and the details come later now you stay with us while we look At Another Market Story u. S. President donald trump criticizing mario draghi on twitter after the European Central bank chief hinted at future Interest Rate cuts to lift flagging growth a trump said drug he was trying to lower the value of the euro in a bid to boost european markets investors saw his tweets as evidence that the u. S. Self will soon cut Interest Rates markets were also we when we did we would meet Chinese Premier she jean king at the g. 20 this month for trade talks. The dow moving up and down on
trump tweets whats really driving us markets right now youre well short with a huge shimmin pick the s. And p. 500 now is shy only one percent of the new record lows and i would say both actually made a difference so we have the Federal Reserve was the next meeting now on a wednesday and it was the tweet for President Donald Trump but that was seen here on wall street as well at the bends or at least some more pressure on the read Federal Reserve to cut Interest Rates of probably not wednesday but then at the next meeting by the end of july and then also the tweet about this good conversation by phone that donald trump had was she in being was also see in at least gave some hope to markets that at the g. 20 meeting next week that at least an escalation of the Trade Dispute with china can get diverted to well both are still a Question Mark the market reacted in a very positive way to both tweets and blue chips went up by a good 350 points here in the tuesday session in skoda with the numbers from new york thank you. And speaking of that Trade Dispute u. S. Trade negotiator robert light hisor is sticking to the trump administrations tough Line Light Hisor told the u. S. Senate finance committee a committee that Trade Barriers are needed in the standoff with beijing because dialogue hadnt worked he said tariffs alone are not enough to stop chinas cheating like hisor encourage firms to move production and jobs back to the us where there was no threat tariffs he says for relative to our. Will vote sunday for a new mayor for the 2nd time this year
a court threw out the original result after a protest from the ruling party of president. To one which had lost the vote polls indicate better ones party could lose again the countrys does more economy perhaps motivating more voters to take a look. Here ill buy rock started off as a regular store worker 25 years ago now he runs a 7 floor Shopping Mall as a supporter of the a k p parsi he credits turkish president lets have tires are 21. 00 for overseeing 2 years of Economic Growth but the rapid decline in the value of the lira has left him with no option but to increase prices. Side will be for example and this applies to all not be brands we could go we sold them for 30 to 35 lira look what happened a week later 49 lira where there was a mistake. To keep that up Skyrocketing Inflation the current race is about 20 percent isnt just
a headache for Business Owners consumers too are feeling the pain young families in particular are finding it increasingly hard to make ends meet. To the things that are sponsoring this these are necessary purchases but theyre really expensive giant food and nappies are really pricey but one way or another we have to buy them. As political and Economic Uncertainty manse added to ones a. K. P. Party may well get a feel for that discontent when the people of isaan bill vote in the mayoral rerun this weekend. Zeman says its cutting 2700. 00 jobs worldwide with more than half of the positions coming from germany home to the industrial giant and the cuts will come from the firms gas and Power Division which makes large wind and gas turbines as well as other Oilfield Equipment siemens is carrying out an overhaul ahead of a planned spin off of the unit next year is says it needs further savings on top of the 7000. 00 job cuts already announce. Now as in most big cities the
cost of rent is a burning topic here in berlin where Apartment Prices have soared in recent years the city is now bowling an unusual Plan Freezing Rent for the next 5 years critics abound take a look. Berlin once described as poor but sexy has long been a magnet for artists musicians and young people in search of adventure. But the german capital is no longer as cheap as it once was over the past 10 years the cost of renting has doubled salaries on the other hand of not. As investors have bought a bold buildings done them up and jacked up the rent public anger has grown. Prompting authorities to impose a 5 year rent freeze. He isnt and he can win and didnt commit anyone comes in for these developments are completely out of line with salaries and if i meet and this is a signal to landlords who have been charging on reasonable rates and ignoring existing
laws because its a chickens and. Tenants are breathing a sigh of Relief Landlords say the new rules will leave them struggling to pay for the upkeep of their properties. Compared to other cities living in berlin is still relatively cheap the average cost per square meter is 13. 00 euros. In the french capital paris its twice the us. Now did you know the global Snail Farming Industry is it being along its current worth an estimated 10000000000 Euros but its not about eating the critters as you might think the Ancient Greeks and romans used nails for Beauty Treatments and 2000 years later the Beauty Industry is rediscovering slime based skincare and health products. Global consumption is growing and many of the snails eaten in traditional as God Go Territory france now come from Sicily Sardinia and piedmont in sicily specialized farms produce
excellent quality snails thanks to a perfect climate and just the right soil Agricultural Association called it he estimates 44000 tonnes of live and preserved snails are produced and usually in italy an industry now worth more than 200000000 euros. Used to be all about just report guess trami but production has more than trebled in italy over the past 2 decades as demand grows for snail caviar and slime. Although the Ancient Greeks knew the Health Benefits of snail slime it was only rediscovered in the 1980 s. Chilean Snail Farmers noticed how soft the skin on their hands had become and that cuts and scars healed quickly although some people would prefer just to eat the snails research has shown that snails live is rich in Vitamins Proteins and substances such as college and
a less than popular ingredients in cosmetics in the past the snails were killed with salt for a mucous but these days more humane methods are used. And thats it for me in the business im seeing theres a blank lets watch a. Blackout
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