Is facebooks new crypto currency a threat to Central Banks leading g 7 economies say they need to act fast to contain libra before it debuts in 2020 we have the details. And next time you. Take a good look under the hood things are popping up from brazil to iran. This is your Business Report im stephen beards in berlin thanks for watching how seriously are governments taking facebooks plans to launch its cryptocurrency currency libra next year serious enough that Finance Ministers from 7 leading global economies spent much of wednesday talking about how to rein in the coin they focused on concerns like Money Laundering and Data Security but they also worried about what libra might mean for the global monetary system. The castle north of paris provided grand surroundings for the big discussion of the day arriving in shanty financial
leaders said they were determined to ensure the Regulator Recrown was prepared for the arrival of Facebooks Libra the given finance the g 7 Finance Ministers and central bankers sitting together here all have grave concerns about facebooks proposals and have set themselves the goal of very carefully checking that all current regulations are being complied with and checking whether the rules need to be changed for the future so that we can ensure the stability of International Financial systems systems good morning. Sir if labor is to be used for payments it will have a Significant Impact on the economy and Financial System if facebook wants it to be used globally countries must seek a globally coordinated response. Or you will dismiss. Central bankers dont appear to have been at all convinced by facebooks assurances that it has no intention of competing with sovereign currencies i will only launch libra once regulators are satisfied. To system around the table wasnt limited to facebook french
finance minister Bruno Lemaire used the opportunity to his counterparts to join france in taxing many of the biggest internet firms. And a cool new lucidly this is an agreement between the g 7 nations would be decisive if We Dont Reach Consensus at this level though over these 2 days it will be very difficult to reach consensus among the 129 members of the o. E. C. D. Shante has a great history of horse racing mr lemaire was treated to a tour of its famous stables with challenges such as leave are on their way the g 7 seems determined to get a head start. In new Antitrust Regulators will investigate Online Retailer amazon to see if it uses data from 3rd Party Merchants to improve its own market position the own. From the office of the e. U. Competition commissioner a stocker follows complaints from merchants who say click and purchase data on
their sells through the site are being used to improve amazons positioning of its own merchandise coincidentally germanys Antitrust Authority announced wednesday an agreement with amazon for the retailer to assume more liability for 3rd party Order Fulfillment and lets check in with our financial correspondent in new york he ends quarter europe once again applying pressure on a American Tech Giants any reaction there on wall street to these announcements well i mean we did see it takes stocks a little bit under pressure here in the wednesday session and we do not just get the regulatory oh political pressure out of europe but also within the United States there is quite a debate going on but interestingly enough wall street does not seem to be too concerned at least at this point if you look at Companies Like amazon but also. Google or apple or other companies theyre all almost at
a record high talking about record to my eyes that seems to be a little bit of confusion and uncertainty what effect the Trade Negotiations between the u. S. And china might bring and that is actually causing some pressure not just here on wednesday but to all week long so the record in the recent record to rally that we had here on wall street at least for now is put on hold and you have to ask you about another one of those Big American Firms Netflix it shares were punished after reporting lower than expected Subscriber Numbers and its Quarterly Report briefly why the strong reaction. Youre not pretty at all and some analysts here on wall street are saying that this quarter actually could be a sign that the best days are for netflix are behind them especially if you look at Subscriber Growth globally netflix only added to the subscribers there were looking for and here in the United States there was even
a decrease of subscribers by about 130000 and all of that before the real competition is going to kick in by the end of next year and this year and next year when a lot of the big media Companies Like walt disney will start their own streaming services and the stock for a netflix and 1st initial after our reaction was down by a good 12 percent while streaming market there in the u. S. Getting a lot tighter quarter with the latest in new york thank you the International Monetary fund has warned that International Trade is slowing a caution comes as the i. M. F. Which coordinates global Monetary Policy releases its annual look at trade not surprisingly its urging nations to avoid further conflict. This years external sector report shows that the world is doing less business with itself confused with the i. M. F. Chief economist explain we are seeing Global Growth global trade grew old slow which tells you that this is not just about shifting of trade to different parts of
the wood but in actual overall reduction in in trade so this is having a fundamental impact on global trade the i. M. F. Points to international hostility as a cause Global Financial leaders have made no secret of the fact the trade war between china and the us is having an impact but i. M. F. Economist peter coping not says the bilateral imposition of tariffs has not had the punitive effect intended instead high it tariffs have been associated with increased prices for consumers and waiting on Global Trade Investment and growth. The report are just countries to avoid further conflict and repeats a familiar refrain that along with a disorderly braggs it and escalation in trade tensions remains the main short term risk to the global economy. Growing concerns over Climate Change especially among europeans are prompting some travelers to reconsider air travel
a few are actually acting air traffic in europe grew again in 2018 as it did around the globe it leaves a lot of work to be done for a group of european activists theyre asking travelers to pledge not to fly next year at all. 100000 thats how many people come pain in my whole thing wants to pledge not to fly in 2020 but they only have to follow through if she reaches the targets. Hussein gave up flying 10 years ago says shes convinced 4 and a half 1000 others to do the same the people who sign up they have to feel engaged in this and try to convince people around them and i think that will be in thier the kill say when. Come to see a growing number of people in europe are choosing not to fly in sweden the movement has become known as feet of flights. Environmental activists like to tour leading the charge. That spurred an increase in train dedicated travel business start up
tucks mr meaning train Vacation Office Group Tools Markets interrail cards and organizes conferences for train enthusiastic. There are some other actors trying to get into trains but they also sell Plane Tickets for example and we have this environment of interest and sustainability interests so its for real and i think people want to support stuff that they think are the right thing flying contributes more than 2 percent of Global Carbon emissions and travel costs have been kept low in the e. U. By the lack of attacks on jet fuel and limited taxes on tickets among other factors the number of global passengers in 2008 almost doubled to an estimated 4300000000 in 2018. Easyjet stuff an analyst says the airline is cutting its Carbon Emissions with measures such as modern aircraft and uses flight route takes. The
average with over 32 percent since 2000. Thats a lot more we believe we can do more my own horse against neighbors with some of the 1st to be convinced to give up flying but she still has a long way to go to reach the target police in brazil say theyve shut down a clandestine factory that was producing Fake Lamborghinis the cars were offered on social media for 45. 00 to 60000. 00 a lot of money but just a fraction of what The Real Thing would cost. This engineer has stolen the show at this Terror Run Tech Fair but thats not all hes stolen shots must be spent 4 years building his dream car. The economy of the Islamic Republic is plagued by shortages and imported luxury cars from abroad are out of reach of nearly everyone so the next best thing is to build your own. To lamborghini for copying their idea and their design but really its the italians own fault because theyre the best. I mean im going is that a more. 40 years after the Islamic Revolution iran is as isolated as it has ever been american sanctions are hitting the economy hard many here blame their own government which is calling down an expensive military conflicts in yemen and syria while its own population suffers dissatisfaction is growing and people are forced to find ways to make ends meet. The flu that germanys engine in this iran border has only half as much horse power as the original but its message is one the government would probably like you could look carful even if youre not really and you can do everything by yourself. And thats it for me and the Business Team im seeing theres a villain thats watching. For information. Express t. W. On Facebook Twitter up to date and in touch. Via watching of all the took train all in the water the poorest of the poor in poor countries. Valuing education they are demanding good god it is a question for their children because what it wanted also realize that if they have to have good quality programs and good quality consumers they need look quality Skilled Workforce i am very confident that in 2050 northside or no i going to build a man illiterate that is the fundamental human rights that is the divine right