Worries about germanys economic a big one for the first time in years the economy is shrinking but is it just a blip pois sign of a real slowdown meanwhile germanys fourteen by when it comes to auto official intelligence potentially costing the country trillions of euros. Things are getting critical for Industrial Companies along the banks of the river rhine low water levels caused by this honest lack of rain are severely hampering shipping on germanys most important waterway. This is your Business Update on how the homefront and by lynn thanks for joining me the economy here in germany shrank by zero point two percent in the Third Quarter more than analysts had expected and stifled by global trade disputes and problems in germanys car industry that it is being seen as a wake up call that stable growth is by no means guaranteed. Exports were down and imports up in the Third Quarter thats trouble for an economy built on strong exports a major part of the problem has been a bottleneck in Car Deliveries by german automakers the result of new more rigorous emissions rules but there are other issues political ones global trade disputes are threatening the bottom lines of German Companies both b. M. W. And di miller cited Trade Uncertainty in their latest earnings reports the Companies Feel growing uncertainty this is related to brag that this is related to the trade conflict with the u. S. And to the italian situation which may lead us into a financial crisis possibly so there is growing uncertainty of the economy is cooling down but we are not falling into recession and i think that would be exaggerated analysts still believe the German Economy will grow this year but the news figures show that the countrys political stability and low unemployment with a weak Euro Currency dont guarantee a strong economy. Like few other nations the German Economy relies on overseas consumption at a time of growing uncertainty it only makes sense that its feeling the pinch. The Italian Government to pay is determined to stick to its biggest Spending Budget Plan did not meet a deadline set by the European Commission to present a revised budget one that would be in line with Euro Zone Rules brussels rejected right as an initial plan which should Deficit Spending two point four percent of g. D. P. He said he has the second highest debt to g. D. P. Ratio in the eurozone and now the ball is in the e. U. School and it looks like an aussie battle has just begun. After italys populist government stated on tuesday that its sticking with its controversial two point four percent Budget Deficit Plans in response to any demands for changes analysts are predicting tough reactions on the side of the e. U. I think we are approaching sanctions from the European Union because i think that the Italian Government unfortunately has chosen a conflicting course with the European Union so i expect a very tough reaction because europe has accepted this challenge and in a way it is relaunching it franco says the current italian Budget Crisis would have a negative effect on Italian Savings and is mostly due to an internal political battle between the two majority parties the league and the five star movement. Financial markets in italy fell by over one percent at the wednesday opening a negative reaction to the governments announcement of the night before. The italian Cabinet Plans to raise cash through the sale of secondary real estate which Officials Say would reduce italy stubbornly high public debt its currently around One Hundred Thirty percent of g. D. P. Far above the e. U. Limit of sixty percent and the second highest in europe after greece. I mean while in the United States the budget is also under the microscope there with the countrys Budget Deficit Jumping considerably in october we can bring in our financial correspondent Sophie Szymanski for more on this now sophie tell us how all the numbers are looking. Big helena these are big numbers the biggest since Two Thousand And Twelve actually as the u. S. Budget charge is looming fueled by trends tax cuts and spending hikes spending grew rapidly twice actually as fast as revenue president sake a look at the new number here for the month of october were talking about a One Hundred Billion dollars Budget Deficit and this marks an increase of about sixty percent from a year earlier the deficit will widen from around Sixty Billion Dollars in the same month last year the part of the Department Said in and statement our job or marks the start of the u. S. Fiscal years so we also get a look back to last year and interims first full fiscal year that ended in September The Budget Gap Grew to Seven Hundred Seventy Nine Billion dollars right i mean thirty sixty percent each steep is this sparking concern. Yes because on a basic level the u. S. Government is spending way more money than it brings in this is not a new problem but what is new about it is that this number is exploding in times of economic well being and growth many are saying it would be a good time to actually start scraping off some debt and on top of that the stat is getting more expensive as Interest Rates have been rising charmes tax cuts especially the ones for a pub or asians are expected to cut Government Revenue by one point three trillion dollars over the next decade that is what the Congressional Budget Office laid it all financial correspondent so if you should the old wall street good speech you think sophy. The British Cabinet has approved a draft of briggs it deal between the u. K. And the European Union after five and a half hours of talks on wednesday the text now has to be approved by the countrys parliament which is expected to be a tricky one earlier in the day to International Monetary Fund Managing director warned that a british exit from the block without a tradition transitional trade deal would cost the country d. D. E. Stating that a hard drugs it would cause the british economy to shrink the pound to drop on the Budget Deficit to rise british Prime Minister teresa mayes is set to explain the details of the draw for deal to parliament on thursday. Now one thing that the German Economy can boast is a Strong Research sector but despite all the hard work going on in labs across the country germany is lagging behind when it comes to the Development Of Auto Official intelligence now berlin is investing a Six Billion Euros thirty two twenty twenty five to get up to speed with a high and close in on rivals china and the us plagued by congestion or lack of Parking Spaces drivers in cities might wish for an invisible hand to regulate traffic such as computers that make smart decisions to keep it flowing. Its just one application of Artificial Intelligence experts at the German Research institute for Artificial Intelligence say germany is doing well in ai research but lagging when it comes to turning know how into products were going to put it takes a while all Political Parties agree that we have to digitalize and that ai is a motor of progress the population remain skeptical that has to do with fears of job losses and fears about Data Protection maybe also with a generally skeptical Attitude Towards Technology these are problems in germany i think thats why no one is really prepared to fund it properly now the German Government wants the country to be an ai leader to safeguard prosperity. This is about thousands millions of jobs that we can secure and create. That is our goal yes and we will work resolutely to ensure that the findings from the Research Done in germany can then be taken on and used by businesses. A key part of the plan recruit top scientists from abroad to do research in germany the Ministry Of Education And Research is to fund a hundred new professorships but Worldwide Competition for the best and brightest stiff incomes gun issue of the theyre not only interested in good pay they also want good conditions for their families to be able to get their kids into the right school especially im sure. The cabinet has earmarked Three Billion Euros to help finance its digitalisation plan. The river rhine here in germany is one of the busiest Shipping Rates in the Walden Companies along its banks know many receive all materials by ship but theres been little rain for among some water levels a fall into such an extent that normal shipping is no longer possible that some gas stations fill is also growing scarce. Commercial traffic on the rhine is drifting towards a crisis in cologne water levels have dropped to one meter usually the river is three meters deep here its one of europes most important shipping arteries and some of the largest inland ports in the world could be found on its banks logistical hubs are trying to cope but problems are mounting. This sinking water levels on the rhine have made it difficult to load barges and the individual ships that are loaded have to take less because the river has grown so shallow so were losing more and more Shipping Capacity and the situation has grown much worse in the last few months or not offered them at this fresh less that Companies Like to some cook and b. S. F. Are feeling the Pinch Supplies of Raw Materials are becoming scarce theyve already had to curb Production Rearranging delivery by road or rail is a complex challenge and will never be as efficient as water borne delivery. An average barge for example can carry two thousand tonnes of oil an amount that would otherwise need forty tank cars or eighty trucks. In the Third Quarter of twenty eighteen low water conditions cost b. S. F. Fifty Million Euros in additional expenses and Production Losses the big question now is whether the low water levels are the exception or perhaps the new rule. Well Climate Change mean traffic could soon cease completely on the run some companies are already looking at new Barge Designs with even flatter bottoms and discussing whether a pipeline could be installed on the riverbed. Thats it from me and the entire Business Team had in about a nine had in the home free thanks for your company remember you can also find out more on our Facebook Page on twitter all handle. Any business on there as well head in the c humphrey is my handle ill be back tomorrow same time same place so that forward to seeing you then right now heres a look at the local markets. Earth. To millions of species. Here which is on those are big changes and most start with small steps globally two years told stories of creative people and innovative projects around the world like to use the term. Used to bring Energy Solutions reforestation. Be creating interactive content cheap. The next generation about Environmental Protection and more determined to build something here for the next generation the ideas the multimedia environment series on t. W. Climate change so. Just. Say. Isnt it time for. Eco africa people and