Tonight the educationists. Ambitious plans by one of germanys legacy and dust trail Companies Siemens is to build a big start of campus here in berlin the move comes barely a week after google dropped a similar plan its also on the program as the tenth anniversary for the worlds most famous Crypto Currency where does bitcoin stand a decade after its introduction and panama introduces a tourism card for cuba can it help the caribbean nation gave more investment back home. Im Christopher Coburn bilin good to have you with us siemens is putting six hundred Million Euros on the table to finance an Innovation Center here in the german capital its meant to be part of what some hope will become a german Silicon Valley one day the investment would be the biggest of a Single Company in the city since World War Two and then the announcement comes
only a week after google withdrew a similar proposal due to massive protests the local neighborhood and lack of Political Support early in pulled out all stops to get the signatures that would make this possible and bring siemens back to its birthplace in the german capitals northwest revitalizing a part of town that already bears the seamans name. Around six hundred Million Euros will be invested in berlin in the coming years that alone is particular it will lead to a lot of infrastructure and innovation job creation and all that will be an entirely new image for the Xena Star Campus bringing the area into a new age. It only took eight weeks to go from the idea to the signing the Innovation Center will House Offices Research Labs and high tech Production Facilities for startups. And in
a city currently locked in an Accommodation Crisis there are to be some Fifty Thousand square meters set aside for affordable housing. This has been blown into believing big thing that means were looking at how we can build a campus that isnt elitist but inclusive and thats something we worked on and considered and we looked at the most varied of locations around the world and say where can we really define The Future Of Work and then we came back to have a place of origin. Is even the step in berlin is already home to the industrial giants largest Production Site with some ten thousand employees in new Innovation Center is expected to be completed by twenty thirty. U. S. Carmakers General Motors has reported better than expected Third Quarter Results Earnings stood at two point Five Billion Dollars up from a loss of Three Billion Dollars a year ago g. M. Sold fewer cars in North America than in the Previous Year but benefited from sales
of higher priced s. U. V. S and trucks in china and north America Companies also increasing its Cost Cutting Efforts by offering buyouts to Eight Hundred Thousand white collar. Us bring in our wall street correspondent yes quarter here yes g. M. Is ramping up its Cost Cutting Efforts its reporting high profits wall street is very excited. So you have the stock of g. M. Pumped up by nine percent just here in the winds they say sion and the u. S. Car industry in general actually did face some major headwinds with tariffs on steel and. Costs increase for comic or silver all that was also true for General Motors and then we are in an environment of Rising Interest Rates meaning if u. S. Consumers want to finance their new vehicles that becomes more expensive but still
General Motors was able to actually achieve the highest selling prices in the corporate history for their vehicles and then was one of the main factors and the u. S. Market overall that even if g. M. Sold fewer cars but for far higher price and thats why they Beat Estimates and the stock saw this huge increase and the ends wednesday was the last day of trading in october and overall its been a brutal month for stocks tell us why and give us an outlook you know what a month has been so we did see especially high tech stocks under heavy selling pressure and for the month the nest theyre called was it was down by a good nine percent and even if we saw a little rally on wednesday and also on tuesday it still was for the next day called was it the worst month since november Two Thousand And Eight sold basically since the financial crisis of two chips also down by
a good five percent being the worst months in two and a half years there was a lot of talk about Rising Interest Rates some companies could not fully convinced their Earnings Outlook and those were some factors why we saw overall a pretty turbulent month of october a scary month of october drawing to close yet scored in new york thank you. Bitcoin is celebrating its tenth anniversary founded at the onset of the Great Recession the cryptocurrency was supposed to usher in a digital revolution in payments and just about a year ago its price truly skyrocketed and then burned a lot of investor cash today there is as much hope and bitcoin as hype. In the heart of moscow theres a small and conspicuous shop it may look normal but inside its a different world the world a bit coin. There a fake chocolate bitcoins as well as virtual bitcoins on servers for many of the
Crypto Currency remains a great mystery even though russia produces more bitcoins than almost any other country. It would place to be quite a good yeah actually customers come to us and say i want but i dont know what it is and here like in an apple store we explain to them that its possible to make bitcoins on these machines theyre told that they can buy it or equip themselves to make it anywhere. And i feel like. The Crypto Currency is created in heavily guarded block chain data centers like this one in St Petersburg bitcoins are bought and sold and the transactions are recorded here currently there are more than Seventeen Million bitcoins in circulation each worth more than Six Thousand Dollars at the end of last year the currency was booming its value rocketed to almost Twenty Thousand Dollars before collapsing even after a decade in circulation the big coin is still not
a mainstream currency even though many say its just a secure Block Chain Technology allows highly encrypted transactions to be carried out and recorded more than a bit more than you can believe it or not but from an economic Point Of View think companies and for individuals will currencies a much more effective than any exchange that countrys economy is now depend on economically. But the cryptocurrency is not one hundred percent secure hackers have stolen large sums a bit points in several countries authorities often warn consumers about whats called Crypto Jacking and that has weighed on bitcoins reputation and value. Here well not too long ago. Crisis ridden venezuela had plans for its own Crypto Currency but to this day the petro is nowhere to be found now the International Monetary fund estimates that inflation will hit One Million Three Hundred And Seventy Thousand percent next year as well as well in bali far as become
a worthless currency more stores are springing up where products are priced only in u. S. Dollars. At a luxury hotel in venezuelas capital a small store which accepts u. S. Dollars its Employee Stock shelves offer goods ranging from fine wines to imported baby formula in stock contrast to the nations barren supermarkets in a country where the local currency is practically worthless before it even leaves the bank prices only remain steady in stores which take foreign currency. This is what you call a de facto dollarization process where a society abandons its own currency and adopts another one as a substitute this could be a defacto dollarization applied to the entire economy which is going to oblige the venezuelan government to adapt to what the society has already decided in a spontaneous manner. The clientele of these Dollar Stores or
body gone is primarily well heeled venezuelans like doctors and lawyers who themselves only accept payment in u. S. Dollars. But prices are out of reach for those living on Base Salaries in august Nicolas Maduro government lifted a fifteen year prohibition on the Free Exchange of hot currency but to go on is operate in a legal gray area and shopkeepers still live in fear of arrest. Panama has begun issuing a new tourism card that will allow cubans to travel to the Central American country without a visa and buy goods now it is a very tangible symbol of strength and commercial ties between the two countries. Panamanian president juan carlos introduced a new measure last week making it easier for cubans to travel to and buy goods in
panama provided they can prove that they have ties to a private business in cuba currently there are some Five Hundred Ninety Two Thousand cuban workers in the private sector. We feel that the tourism card will strengthen the economic opening that youre seeing in cuba and permit following the countrys rules and respecting the countrys regulations and all their systems it will make visits to panama easier because many cubans are traveling they travel to other countries they return to their country and theyre setting up their own businesses theyre moving forward and this facilitates the process. If i think that it is if. The tourism card comes at a time when cuba is seeking more International Investments and credit due to of the quitting crisis and the decrease in aid from venezuela. The direct Foreign Investment in the country has averaged in the hundreds of millions of dollars over the last few years but the government is seeking an annual two point five billion
dollars in investment panamas tourism card is supposed to help entrepreneurs in cuba gain more financial freedom. And that wraps up our show wherever you are thanks for watching. A. Lot of we were. Now eighty percent of americans at some point in our lives will experience hardship back listen. To. The minds. Germany state by state. The most colorful. Latest. The most traditional find it all but any time. Check in with a web special. Take a tour of germany state by state on d w dot com. We make up oh but we want tons of outfits that under the age of five we are the
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