A growth downgrade the i. M. F. Triggers its outlook for the World Economy the courts treat tensions between the United States and its trading partner its also coming up is the slow death of diesel speeding up all of a sudden of course in berlin rules on a ban in parts of the german capital. This is your Business Update on how. Glad you could join me the International Monetary fund has cut its Global Growth forecast down from almost four percent to three point seven percent it cites trade tensions and Rising Interest Rates the announcement coming at the annual meeting of the i. M. F. And World Bank Currently taking place in indonesia. The us China Trade War Is said to make the world poorer according to the i. M. F. And a prolonged conflict could mean more shocks to the global economy. Impacts of trade policy and uncertainty are becoming evident at the macroeconomic level while
anecdotal evidence or q its result in harm to companies. Policy reflects politics and politics remain unsettled in several countries posing further risks as relations between the worlds top two economies worse than other countries could get caught in the middle pakistan a key recipient of chinese Infrastructure Loans has called on the worlds Lender Of Last Resort for a bailout a move that could Inside Washington if i. M. F. Money is used to pay off china. The Prime Minister consulted all the leading economists and after consulting with everyone he decided that we should begin talks with the i. M. F. Program for stabilisation and recovery on the basis of which we can control the economic crisis. To go over there its not alone in needing help argentina has taken on the biggest loan in the i. M. F. History turkey for its part is still rejecting i. M. F. Aid despite its own crisis but its in venezuela that the i. M. F. Forecasts take on unimaginable dimensions said hyperinflation there could hit ten million percent next year. And our financial correspondent joins us now yes the i. M. F. Has made it very clear it is lowering growth based on moves initiated by the u. S. So how is the news playing out beth. Well the i. M. F. Is not necessarily famous for being super timely it was therefore for example when the i. M. F. Is talking about emerging markets like turkey like brazil like for instance to having a tough time thats not necessarily new is weve known that and seen that for quite some time and then also the forecast is not super dramatic at least for this year
we are still talking about matching globally. The biggest grows in about seven years and then a slight change in the forecast for next year and for this year the forecast for the u. S. Actually still remains unchanged so there was not a big reaction here on wall street even if we traded is likely lower on this news all right yes it do you think the president will take heed of what the i. M. F. Had to say. Well probably not directly from what the i. M. F. Has to say because u. S. President donald trump is not a big fan of institutions like the i. M. F. But lets say that because of the trade policies because of higher tariffs more and more u. S. Companies will suffer and maybe we will hear Something Like that in the next coming days and weeks because their earning season is about to kick off maybe you might consider there are some Lobbying Efforts on its way here in the United States from
industry groups from big corporations so maybe that could make the president a recon siddur but we will have to see how likely that is our financial Correspondent Yen is caught in new york thank you very much chance. Google has appeal the use biggest ever trust fine of Five Billion Dollars impose for what the European Union says was the u. S. Tech giants a legal abuse of its Market Domination in Mobile Device operating says Operating Systems the Company Refused the charges though the case could take years to settle now at the same time it also launched its latest a ray of phones and gadgets its new pixel three smartphone boasts an Artificial Intelligence driven camera that also must to keep picks the best for uses it also comes with improved parental control when it comes to screen time for children. But said the google event was overshadowed by the companys admission though that
it had kept a data breach under wraps it said Five Hundred Thousand private uses data had been wrongly shared on its google plus social Media Network which is now shutting down at least two states and theyre reportedly investigating that breach meanwhile here in germany a court has ruled in favor of banning up to Two Hundred Thousand diesel vehicles in parts of bullied potentially including models which is just three or four years old the aim is to improve. Quality and focus fog in the mission scandal has thrust the impact of dirty days over into the spotlight and germanys one of a number of countries that has missed you deadlines to bring down levels of night shift oxide opening them to potential legal action from brussels. A typical evening rush hour seen in berlin many diesel cars will soon be banned from some traffic their affairs in the german capital. The band goes into effect the middle
of next year but will only affect parts of major streets with the heaviest traffic the berlin courts decision came in response to a lawsuit by a prominent Environmental Organization that is not satisfied with the ruling. Unfortunately we were not able to achieve car free zones today but the court did acknowledge that creating such Exclusion Zones would be better than solutions that would lead to traffic detours. At least eleven streets in berlin will have partial bans where levels of Air Pollutants are especially high around Two Hundred Thousand car owners will have to take detours around the Exclusion Zones. Traffic should be reduced in general they just have to see for themselves what its like here you can barely get across the street. Probably because if you have plans of you know there are so many cars here its a bit questionable whether the ban will really help if. They should make the cars
smarter then we wouldnt need any bands. And a lot of. Diesel engines are the main reason for poor air quality in germany the pollutants they emit can harm the lungs and cause heart and circulation disease Diesel Engine bans are already in effect in hamburg to guard and frankfurt now with berlin on board more german cities are likely to follow suit. Turkey has announced plans to combat Spiraling Inflation in private firms to slash prices but least ten percent across the board the government also when else to hold on Energy Price Ikes until the end of the year and an acceleration of sales tax rebates plus firms that export goods can apply for loans with low Interest Rates turkeys Inflation Rate rose to nearly twenty five percent last month and the Currency Crisis has sent the near up plummeting. Believe it or not the u. K. Has just had one of its hottest summers on record and thats been hard on many
farmers but it has given great grow is a bumper season just as on the European Mainland british winemakers believe this will be the season that will cement their reputation as producers of quality sparkling wines. At the Chapel Down Winery about an hours Drive South East of london dozens of Fruit Pickers are busy harvesting. This years crop has yielded around sixty percent more than last year. Chapel down has chalky soils similar to the famous Champagne Region of france and they use the same traditional method of Wine Making Data from britains Customs Service shows Champagne Imports for the last twelve months of fall into an eighteen year low that reflects in part the pounds fall against the euro since the bricks at referendum but according to british wine makers it also shows the growing reputation of their product. Its quite exciting to see an industry so young being so successful so quickly and
people are people are curious as to what were doing down here in the southeast of england and more and more people are trying the wine and being surprised and delighted by the quality of whats in the bottle. But once Britains Exit from the European Union is complete great growers face a looming problem a shortage of the seasonal labor force thats necessary for important parts of the Great Growing Cycle is the Shelley Harvest in early autumn and pruning in the winter months at the moment teams of mostly Eastern European workers come in to do these jobs. Yes its an issue in terms of great supply and the wineries in the u. K. Its a big issue in terms of for cant theres lots of fruit that needs to be picked and cant so were not talking and discussing this alone theres a lot of part of businesses across cans that have this really top of mind and this
is a priority for them and in the longer term the prospects for englands Wine Industry may will hinge on britains ability to strike trade deals with countries outside the European Union. Germanys National Mail carrier the past is teaming up with the u. S. Carmakers for to boost production of its electric powered streets to the streets go to delivery van has been so successful that the post plans to produce three now. After thousand units a year together with fords plant in Cologne Georgia Prosper again making its own electric vans because carmakers couldnt offer a suitable model the st scooter can carry two hundred parcels and is tailored to the demands of urban Delivery Routes the Ford Agreement will certainly make the post i mean to any diesel benz. Thats it youre out today with the latest from the wall of business for more do head to our website d. W. Dot com dont forget to slash for business so follow us on facebook and you can find us on twitter as Well Underscore Business is our handle all be back tomorrow same time same place look forward to seeing you then say. Im. Going to. Talk. To. Hamas. The. Elephants need
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