The new for numbers government and its controversial economic measures. I want to get jones and this is the business live from berlin thanks for joining us i was starting with a quick look at the markets which dont seem impressed by the u. S. Impeachment drama after wall street closed flat to asian markets are trading only slightly lower but after analysts dont see anything surprising in the move also the republican dominated senate is widely expected to vote against removing donald trump from office thats the political upheaval is not expected to change matters of trade or the economy major u. S. Indices are currently trading near record highs spurred by progress towards an initial u. S. China trade deal. And of course markets in europe are still closed but our financial correspondent is already feeling the cold for the market pulse for a scum who isnt there what kind of reaction if any can we expect on this side of the atlantic. Well also here in frankfurt the share market is trading
Was. Called. Arrested for corruption we are. Actually the way forward to solve africas energy crisis. Production instead of 20000000. 00. Backers. And french president obama travels to west africa to discuss the future of the save our currency. Should it. Come to business. Africa your updates on todays african and Global Business news here on the us welcome. South African Police have arrested 2 former executive at embattled power utility eskom theyre charged with fraud corruption and Money Laundering in connection with new power plants that are supposed to alleviate the countrys electricity problems south africas grid nearly collapsed in 2008 and eskom has had to enforce rolling blackouts ever since in a bid to relieve pressure it is causing chaos for the country and the economy the contracts involved in the allegations are worth around 50000000. 00. But africa has the worlds slowest electrification rate in an unstable pas applies constantly hampering businesses all over the continent
Business live from berlin welcome and were starting with an interesting Monetary Policy decisions weve been central bank has raised its key Interest Rate by 25 basis points to 0 percent now this is significant because it makes it the 1st central bank in the world to have adopted negative Interest Rates and then ditch the controversial policy now only for Central Banks including the European Central bank and the bank of japan are Still Holding on to negative rates before lets cross over now to our Financial Markets correspondent in frankfurt and i hope he can hear me because i can see him and there is a comma why her sweetness and now you want to yeah good why why is sweden strikes bank changed its rate policy. Well monica the 1st reason reichs bank is naming in its report is that inflation is on target just like the European Central bank here in the euro area the mandate of the rykes bank in sweden is to provide price stability and that is defined at the inflation rate you know an incr
A large number these 8 percent are concentrated on the german Manufacturing Industry and this industry is in trouble at the moment it is basically in a recession for one and a half years now that is to say that production is shrinking that new incoming orders are shrinking so this part of the German Economy is not doing well at all is that all down to the to the trade war the insecurity about breaks it or the other reasons as well. This is definitely one of the main reasons the breaks it the uncertainty surrounding the breaks and the uncertainty surrounding the trade war this has had an impact on the Global Industrial cycle and germany is a very important part of that industrial cycle but there are also difficulties currently in the german Automotive Industry which is you know transforming its production from the from the combustion engines to the electrical electric motors that this is currently also. Having big problems at the German Economy on the other hand there seems to be some o