This is the business im Kate Ferguson thanks for joining me it was a hockley on to suppose that i. P. O. And it turns out to have been as lucrative as analysts expected German Biotech Company cura bank has made well over 200000000. 00 in its debut on the not Stock Stock Exchange giving it a total value of a buy 2800000000. 00 the for firm is working on a cope at 19 vaccine and wants to use the funds to pay for Clinical Trials. For more lets bring in Business Correspondent yan squad to yes how much of a boost is this for a cure back. Well its clearly helpful i mean a good 200000000. 00 that is very promising and it was a very good start to your image on manhattan. The stock up by 250 percent so it more than tripled in the 1st trading day but youre of it already said that there. Going to need more money and probably hundreds of millions of dollars maybe from a safety cofounder a deeper hole pool is one of the big investors in a cure a victim also of the bill and Melinda Gates foundation are in vested and if you look at other companies that already listed before the pandemic started they actually sold. Says it is seeing if successful for billions of dollars and theyre also getting hundreds of millions of dollars from some government to speed up the development of the v. C. And so clearly this i. P. O. Money wise is helpful but more money will be needed. Megan 1st search for a vaccine is turning into something of a modern day face right if where would you place cure back analysts. Well i mean right now there are really in the early stages they got just got to sums up for phase one trial that will then soon start was so Clinical Trials and other companies if you look at nova thanks so much. That was the german Partner Company on tech most of them already started face trial so it is early in the game but even the more every dollar is needed to speed up the process for finding the scene as soon as possible. To in new york thank the ever. 950 other business stories making news. Germanys finance ministry has denied allegations of Insider Trading at the countrys financial watchdog it said the increase in employee trading of wire card stock was not unusual compared to that of other volatile companies wire cards filed for insolvency in june after a 2100000000. 00 hole was revealed and its a kinds. The United States has seized the fuel of board for iranian tankers batting for venezuela disrupting a key supply line for both terror ron and kyra costs asleep to fight u. S. Sanctions the u. S. Justice Department Says the cargo amounts to over a 1000000 barrels of petroleum making it the largest ever u. S. Seizure of the brain in fuel. For turkish lira has fallen to a new no against the u. S. Dollar after years of declining value its now worth just over 0. 13 making it one of the worst performing currencies among emerging markets rising inflation a result of a cheap loan policy has added to pressure on the lira. Google says it will no longer respond to Data Requests from hong kong the move follows beijings introduction of a new National Security law in the territory critics say the legislation is designed to target protesters and free speech. The United States and china are jus to resume trade talks this weekend 8 months after agreeing to phase one of a trade deal the contentions couldnt be any more tense the world is in the grips of a pandemic which u. S. President Donald Trump Blames on beijing and washington is in the middle of a crackdown on chinese tech giants. The Popular Video service to talk is facing a battle in the u. S. 8 thats what President Donald Trump wants citing concerns over the chinese states potential access to the user data that take top collects then ticktock happens to be very successful in the u. S. It may yet avoid a ban if an American Company takes over the video platform and its 100000000 american users until september 15th. Both microsoft and twitter have registered interest and negotiations are ongoing. Is already banned the messaging app is a must have in china and most chinese smartphone users have it installed on their phones phones they take with them when they move to the us to work or study but the number of we users is far behind that of ticktock these are only the latest battleground in the fight protect supremacy between the u. S. And china but it takes 2 to play the game American Social media platforms like facebook and twitter have been banned for years and chinese tech conglomerate while way has been a bone of contention for the u. S. Despite washington sanctions however while way still manage to sell more smartphones than any other company. But whether that success will hold is another question while ways struggling with challenges to its smartphone production mostly due to u. S. Trade restrictions against china that prevent american a chip producers like qualcomm from providing wall way with processors their supply is only enough for a few more weeks even while wave might have to stop producing phones as early as september. Lets bring in james andrew knew as hes the director of the Technology Policy program at the center for strategic and International Studies in washington d. C. James welcome to the show how big a role will chinese tanks play in this next round of talks. I think it will overshadow. Surprising us all making any progress theres areas like a cultural products where theres still room for the president we welcome progress on agriculture but tech overshadows everything. Ok now washington is threatening to take talk on National Security grants now the way to look at this is that america is simply threatened by at Chinese Success story what do you think about. No its not a threat of the Chinese Success story its the threat of chinese espionage and of chinese censorship and of chinese influence operations and fortunately theres good evidence that china is doing this we know theyre censoring things and to talk theres a deep concern in the government that they will use to talk as a platform just spread chinese propaganda theyve done it the other areas and finally theres the whole question of what happens to the personal data could be collected over by defense its best to see to talk not as an individual case that part of a larger pattern of groups and Health Care Companies and Insurance Companies chinas vacuuming up u. S. Person data to populate a surveillance database and thats the primary grounds for concern on that question of data about u. S. President donald trump is accusing Chinese Companies of mining you as a state as you say im the likes of facebook and google doing exactly the same thing. They are but they dont have prison camps and they dont violate their agreements and hong kong theyre not a state and so china is the Worlds Largest surveillance state its the Worlds Largest police state its not a democracy it doesnt respect human rights or the rule of law that makes it fundamentally different facebook and google cant throw people in jail china can and what do you think beijing strategy will be then in the next round of talks. Oh i think ill look for retaliation i mean as you mentioned going into this of course us social media platforms are banned in china so even some chinese are told me we understand why youre doing this youre just using a page from our playbook but china will look for other areas where they can retaliate and whether thats in silm soren in investments or Something Else were showing it will be careful to do this in a way that doesnt hurt their own economy but theyre looking for ways to retaliate and well probably see that relatively soon now these negotiations come out an incredibly volatile time for the Global Economy what i the chances of a breakthrough. I would say a major breakthrough its close to 0 progress in some areas the Trump Administration would like to see some progress because of the election i hope the chinese dont overestimate that the chinese keep saying well hes also doing this because in the election it wont help him that much you know will hurt him that much i mean americans do vote their pocket book but the trade talks wont really change a lot of the fundamental issues so minor progress the best thing would be no rupture at all because a rupture would send a very bad signal to markets and so if we can just keep kicking the ball down the road a little bit might be best for now ill keep that ball rolling James Andrew Lewis thanks so much thank you and finally wed like to take you to the wine growing region of leaves that in the fight a front for white muscat then theres have been enjoying and if fashion an Early Harvest 10 days ahead of schedule to be exact. Very warm temperatures at the end of june added to an earlier ripening of the grapes that make muscat y. Which is naturally lice on face the face. And that wraps up our show for more check out our website e. W. Dot com slash business were on facebook and twitter to me on the team its goodbye and taken. What secrets lie behind swallow. Discover new adventures in the 360 to. Explore fascinating World Heritage sites. World heritage 360. Starts now. This for me. Is for you. Crito for. Its truth. Beethoven is for us. Beethoven is for. Beethoven 2020 the 250th anniversary year on do you. Find the needle come to all complete the 2nd season the only good chance its the back environment its still about society its still about little planets on the brain responds to subtle leading experts in the face down to check. Look up just to clarify the real sense of. This you know i mean in your minutes im going yes. What im going to miss you know what im what what in what can i see right up what is it there. Was here its as if the sassy quote ive only said that i caught going on what theyre doing finding. Well grabs a news from the world about some culture the design of a brand new museum about exile has been presented here in berlin also coming up today. With a lot down easing in moscow artists are emerging with what you were influenced by the coronavirus demi. And has that ever been a drive through museum before all while there is now in russia down. Buts we begin with the announcement this friday of the winning design for a new museum in berlin it is a museum about exile which of course hundreds of thousands of germans experience themselves in the 1930 s. Under the nazi regime the Nobel Prize Winning author i have to move the initiated this idea for a museum nearly 10 years ago and she was there on friday with a number of dignitaries including the former german president you walk him golf patron of the project as they set everything in motion more in a minute after a look back at how this all came about. Germany under the nazis hundreds of thousands fled towards an uncertain future jews are members of the political opposition anyone who didnt fit the knot