we are in italy. concerns over a protected slowdown in europe are fueled by the economic data in germany and italy. the nation will purportedly cut 0.1%.owth forecast .01 -- joining us now is pier carlo padoan. thank you for joining us. if you look at the growth prospects in italy and the reforms that have or have not been put in place, and the coalition government. mr. padoan: the situation has been deteriorating steadily over the past few weeks. the government is forced to tonge its growth forecasts now barely positive growth. it has an impact on public finance is becoming unsustainable, so there is a againhat begins to rise that would impact negatively on confidence. spreads will go up and there will be a new recession situation because of this inability to manage the economy. francine: is it government for the budget that europe was against, prices went up and they backed down. what to they have to do next, readjust the budget to make sure they do not pick a fight with europe? mr. padoan: what eur

in europe in a very big way and not everyone in the west welcomes this italy's support of china's belt and road initiative is a game changer the washington consensus that has dominated the world for the past seven decades is being challenged to turn to the east continues. across knocking china i'm joined by my guest patrick lawrence in new york he is a foreign affairs commentator whose columns appear in consortium news in other publications also in new york we have remy p.a. he is a senior director at america's market intelligence as well as a research associate on political economy and foreign policy at florida international university and in paris we cross the jump from the he is president of asia center i'd jump in cross talk rules in effect that means you can jump in anytime you want and i always appreciate patrick this but this program has been inspired by an article you wrote of the consortium news i saw the the white house's reaction to italy joining this initiative this chinese initiative belton road this is coming from the national the national security spokesman mark cases it

italy france the u.a.e. in egypt so they congratulate him on his last military offensive here illegally occupied the oil installations in the south and and then immediately gave them going to gave symbolic allegiance to the national oil corporation in tripoli is that as ok to do so in that respect i think he enjoys so much military support and again it's this kind of smoke and mirrors that most of the international community have engaged in they give this overt kind of public support to the u.n. by the government but only yesterday the minister of interior in tripoli for had said that in eastern libya had received an arms shipment from the u.a.e. and i think they're very very happy with what is currently going on because after it's only just arrived yesterday into cairo to go meet with president sisi after an aborted trip to russia to go in with president putin so he's engaging these international actors that have no skin in the game so avoiding deflect attention from the very very actors the real actors tha

china has arrived in europe in a very big way and not everyone in the west welcomes this italy's support of china and road initiative is a game changer the washington consensus that has dominated the world for the past seven decades is being challenge the turn to the east continues. across talking china i'm joined by. my guest patrick lawrence in new york he is a foreign affairs commentator whose columns appear in consortium news in other publications also in new york we have remy p.a. he is a senior director at america's market intelligence as well as a research associate on political economy and foreign policy at florida international university and in paris we cross the from the he is president of asia center i'd jump in cross rules in effect that means you can jump in anytime you want and i always appreciate this but this program has been inspired by an article you wrote of the consortium news i saw the the white house's reaction to italy joining this initiative the chinese initiative belton road this is coming from the national the national security spokesman mark a has italy is a m

italy france the u.a.e. in egypt so they congratulate him on his last military offensive he illegally occupied the oil installations in the south and and then immediately gave them going to gave symbolic allegiance to the national oil corporation in tripoli is that as ok to do so in that respect i think he enjoys so much military support and again it's this kind of smoke and mirrors that most of the international community have engaged in they give this overt kind of public support to the u.n. by the government but only yesterday the minister of interior in tripoli for had said that in eastern libya had received an arms shipment from the u.a.e. and i think they're very very happy with what is currently going on because there is only just arrived yesterday into cairo to go meet with president sisi after an aborted trip to russia to go in with president putin so he's engaging these international actors that have no skin in the game so avoiding deflect attention from the very very actors the real actors that ha

initiative belton road this is coming from the national the national security spokesman mark a has italy is a major goal of global economy and great investment destination no need for italian government to lend legitimacy to china's infrastructure vanity project well this is a lot more than of vanity project and it sounds more that they find it threatening go ahead patrick. it's a very great deal more than a vanity project that's a ridiculous description and i think the larger point peter is is it washington's position to confer deny legitimacy in these sort of things if the law whole statement reeks of washington's inability to to to read the clock and see what time it is. the world's changing europeans i think to to my to my delight our last figuring this out. and addressing addressing a future where there are going to be. more independent coal power i couldn't be more pleased at that prospect one has waited for it for decades of course. ok let's go to it let me go to paris here is on francois how far as it being in europe and being a european do you see china as a threat or is it an o

peter lavelle china has arrived in europe in a very big way and not everyone in the west welcomes this italy's support of china's felten road initiative is a game changer the washington consensus that has dominated the world for the past seven decades. cross knocking china i'm joined by my guest patrick lawrence in new york he is a foreign affairs commentator whose columns appear in consortium news in other publications also in new york we have remy he is a senior director at america's market intelligence as well as a research associate on political cost the françois he is president of asia center i jump in crosstalk rules in effect that means you can jump in anytime you want and i always appreciate this but this program has been inspired by an article you wrote in the consortium news i saw the the white house's reaction to italy joining this initiative this chinese initiative belton road this is coming from the national the national security spokesman mark cases italy is a major goal of global economy and great investment destination no need for italian government to lend legitimacy to china

initiative belton road this is coming from the national the national security spokesman mark cases italy is a major goal of global economy and great investment best infrastructure vanity project well this is a lot more than of vanity project and it sounds more that they find it threatening go ahead patrick. it's a very great deal more than a vanity project that's a ridiculous description and i think the larger point peter is is that washington's position to confer deny legitimacy in these sort of things if the whole statement reeks of washington's inability to to read the clock and see what time it is. the world's changing europeans i think to to my to my delight our last figuring this out. and addressing addressing a future where there are going to be. more independent coal power i couldn't be more pleased at that prospect one has waited for it for decades of course. ok let's go to it let me go to paris here is on francois how far as it being in europe and being a european do you see china as a threat or is it an opportunity because you look at the scaremongering out of washington and o

the law was designed by italy's recently elected vice premier and interior minister, matteo salvi. he's also the leader of thent anti-migeague party. >> ( translated ): you're not fleeing war. you're not escaping torture. what do you have to do? go back to your country.e we already hve million italians living in poverty, so ' host hundreds of thousands of other people from the rest of the world. r orter: having been denied asylum on humanitarian grounds, under this new law, migrants are ineligible to access shelters. u.n. agencies fear that thousands of migrants will end up on the stets. this as hate is on the rise. lunaria, aitalian civil society group, recorded 126 racially-motated violent crimes last year, nearly triple those of 2017. >> ( translated ): migrants were beginning to integrate. many found jobs or were learning italian and going to school. but now, out of fear, they want to crosshe border, fear of losing those few rights they had, and fear of the changing .political climate in ita at the same time, it pushes migrants out of the country and wins votes for the league.

and we take you to the korea in northern italy for the chinese have been investing for years twenty four belgium growth even started. hello and welcome to visit asia i'm to know them a lot and in berlin good to have you with us german chemical giant buyer it's facing its shareholders at the group's annual meeting today and so far it's been a turbulent encounter buyer share price has been cut nearly in half following the takeover of the us agricultural group monsanto its highly controversial we kill around up has put buyer in the crosshairs of environmentalists lawyers and now shareholders. the cat is out of the bag and buyers shareholders are furious so far to court cases have gone badly ruling that monsanto's roundup killer has caused cancer with buyer no liable for tens of millions in compensation the knock on effect has been devastating he's a first for. these lawsuits have resulted in substantial declines in buyer share price as a result of which you are esteem shareholders have also have to shoulder losses and we regret that deeply that on the zero zero. buyers share price has almos

in northern italy where the chinese have been investing for years before belgian growth even started. hello and welcome to you business asia i'm joined now the milan in berlin good to have you with us german chemical giant buyer it's facing its shareholders at the group's annual meeting today and so far it's been a turbulent encounter buyer share price has been cut nearly in half following the takeover of the us agricultural group monsanto its highly controversial we kill around up has put buyer in the crosshairs of environmentalists lawyers and now shareholders. the cat is out of the bag and buyers shareholders are furious so far to court cases have gone badly ruling that monsanto's round of killer has caused cancer with buyer now liable for tens of millions in compensation the knock on effect has been devastating because of its for. these lawsuits have resulted in substantial declines in buyer share price as a result of which you are esteem shareholders have also had to shoulder losses we regret that deeply but they are on the zero zero. buyers share price has almost half since the

and we take you to the quarry out in northern italy where the chinese have been investing for years before belton road is even started. hello and welcome to business asia i'm joined now the milan in berlin good to have you with us german chemical giant buyer it's facing its shareholders at the group's annual meeting today and so far it's been a turbulent encounter fire share price has been cut nearly in half following the takeover of the us agricultural group monsanto its highly controversial we kill around up has put buyer in the crosshairs of environmentalists lawyers and now shareholders. the cat is out of the bag and buyers shareholders are furious so far to court cases have gone badly ruling that monsanto's roundup killer has caused cancer with buyer no liable for tens of millions in compensation the knock on effect has been devastating he's afraid for. these lawsuits have resulted in substantial declines in buyer share price as a result of which you are esteem shareholders have also had to shoulder losses and we regret that deeply that when the zero zero. buyers share price has almos

is there's a tremendous amount of volatility politically in italy. that's not changing any time soon being an investor in italy whether it be the sovereign bonds or the banks, you're dealing with that uncertainty all the time. >> he is saying don't blame u.s. budget investors he is saying -- how do you respond to that? >> well, you know, i didn't see that quote, but it's not uncommon to be blamed as a debt holder as part of the populist rise kind of globally is complaints around debt holders. >> the stock 600 is down nine basis points, and that's a fairly muted move overall. this really masks major single stock movers today it's a heavy day for earnings. as i mentioned in the open, we've had a number of results come through as well as some corporate stories. we have seen even double dej it movers when it comes to those. aerospace and airlines in big focus. at the top of the board we've got food and bev retail and health care. down at the bottom we've got some of these more cyclical names. basic resources down 1.4%. banks and autos also underperformin

we are seeing bonds coming through in italy. btp's as we look back to what we s&p on friday, they reaffirmed their rating on italy, and that is seen as positive. yields falling, something i know we will talk to mark cudmore about. let's kick it off with a look at asian markets. we don't have japanese markets trading, they are closed for 10 straight days. here we have the euro-dollar. oute's a lot of data coming of the euro zone. french and spanish gdp numbers tomorrow. we have an interesting call from goldman sachs. the chinese economy is going to help with european growth. let's get over to mark cudmore. mliv our bloomberg managing editor. what do you think about the possibility of second half rebounding the european economy spurred by the engine that is china? >> that is the base case we have been discussing. we will probably see an uptick in european data in third quarter because the chinese data appear to bottom out in the second quarter. we expect european growth to pick up by september time. we think that means there will

much lower than italy. economically, the political story is a spain has really shrugged off the economics. instability, is they have not been affected economically. one thing we should say is due to the fact we have had the succession of minority governments, they have not been able to do any sort of structural reform. that's the kind of thing stable government would bring. that's what investors are looking for. annmarie hordern in madrid on the politics of spain. a quick snapshot of the bond markets. u.s. bonds have a breather overnight because it is golden week. italy opening up. i want to focus on that italian trade. s&p downgrading. how strong will this rally be? .dp readings s&p benefits from the credit features. we just had a conversation with credit suisse. what happens next from the ecb is critically important to germany, italy, spain, because the ecb moves more toward the credit markets rather than the sovereign markets, that could have an important issue. we are off just zero point 025%. 2.5 perce

if tensions rise more broadly in italy? >> well, let's, first of all, take the positive approach, which is that this is exactly the type of relationship that italy needs in a structurally low growth economy it needs more relationships with faster growing economies, like china, and if they can use both their economic strengths of the tourist industry and their network of ports to in source demand from china, that is a good change, and it should be welcomed across the e.u. 27. at the same time as the european commission see the challenges of a systemic challenge to their trading system from china, will this unilateral action from a sorch government, which is undoubtedly designed to bring leverage to bear in the fourth quarter or indeed before, will that be tolerated? there's a very, very delicate balancing act of politics and economics. there's the plus side on the economics, and it comes with some political repercussions which might be quite ugly. >> all right all that to look forward to or dread. great to have you with us,

so, interest rates increased in italy both for lending and for broader economy. as a result, confidence indicators went down. this negatively affecting investments and italy's economy slowed down very substantially. so if -- as of late last year, that this year's budget was built on assumption of 1% growth, just last week italy presented i would call economic and financial document with underlying forecast of 0.1% growth. so, one can say, okay, it's overall slowdown in eu economy, but still, the eu economy continued to grow with growth rates well above 1%. while we're presenting our next figures on this so i'm not quoting maybe all the figures which may be changing by now, but so one can say that the damage to the economy is already done. then in december, we managed to reach an agreement with italian government, say corrected course, say a reduced budget deficit, quite substantially to be, you know, just -- just within acceptable, concerning the eu fiscal rules. it also helped to calm down markets somewhat, even though interest rates still remain elevated, and i

. >> yes there's a big problem for italy and the big problem for italy is a lack of investment the deterioration of the public finance situation, so i think it's a warrant situation with no ideas for the future from the present government just redistribution. there's no idea on how to grow, and i think the country will face a second part of the year very, very hard. that is the main problem of the country today. >> i asked him similar questions just earlier we're talking about it being less of a government than a coalition of interests as well when do you think the coalition of interests will erupt and actually perhaps diverge do you think it's going to happen on the european parliamentary elections? are we going to get an election this year? >> i think substantially the situation is over. the government agreement stopped. they are just in the initial track because they wait for the elections, the european elections, but it is clear that everything will be happen the day after the european elections, and i expect a collapse of the coalition, and i expect after the european election completely ne

francine: some of the players, germany and italy, italy cut its 2019 gdp growth forecast. how badly will it get in the euro zone? worried. germany is maybe a year or two , it is in trouble. you have deutsche bank and commerzbank merger, that will be jobs lost. the auto industry could be hundreds of thousands of jobs lost. no reforms for 10 years, and this problem of the germans not understanding why the euro zone has been so good to them. no deal with macron, so no sense that europe will get integrated, and now you have italy. germany is meant to be the strong person. france has not moved as much as people hoped and italy has its own problems. even those on the remain side of the heatent in brexit, underemainers could come if the euro zone is doing badly and -- is quite interesting. francine: you had a 30 minute conversation with the chancellor. what does she want brexit to be? is she do whatever she can to keep the u.k. close to the e.u.? john: she did not say much on stage, but from the noises around her, she does not want germany to be blamed for this in any way. keepin

>> well, on italy indeed we have concerns, concerning economic and fiscal performance of italy. and, indeed, when current government came in office, they presented this year's budget was substantially increased budget deficit. and we had difficult discussions with italian authorities on their plans to increase budget deficit and a station where they should be decreasing budget deficit, and we saw that also markets reacted negatively. so interest rates in italy increased both for lending and broader economy. as a result confidence indicators went down. this negatively affecting investment and italy's economy slowed down there substantially. so as of late last year, this year's budget was built on assumption of 1% growth. just last week italy presented its what they call economic and financial document, with underlying forecast of only 0.1% of growth. one can say okay, it's overall slowdown in the u.s. economy, but still eu economy continue to grow with gross rates well above 1%, while were present at our next figures on this, one seventh of may so i'm not quoting maybe all the fi

i head back to europe via italy. i've come to the southern province of where tomatoes are grown german this summer for export. i'm on my way to visit one of the farms. the crop is being harvested mostly by african immigrants. one of them is in three c. in new south from ghana he wanted a better life so he made his way to north africa and then to italy now he's stuck here. i ask him what he earns picking tomatoes from tomato are still going to do some of those just three year or fifty cents per hour and not pay i want a son i say how much. how much do you hear oh i know you're almost there when you take one hour and i want you to miss one hour you make one. you know so you you get three your three year fifty say the hour your family or. the two or. i see the logic to it that the problem they just you tell it is almost like a slave enough i guess in sort to say. you three c. is earning next to nothing for harvesting e.u. subsidized tomatoes and in the process he is indirectly hurting the tomato industry in his home cou

italy france the u.a.e. in egypt so they congratulate him on his last military offensive here illegally occupied the oil installations in the south and and then immediately gave them going to gave symbolic allegiance to the national oil corporation in tripoli is that as ok to do so in that respect i think he enjoys so much military support and again it's this kind of smoke and mirrors that most of the international community have engaged in they give this overt kind of public support to the u.n. by the government but only yesterday the minister of interior in tripoli for had said that in eastern libya had received an arms shipment from the u.a.e. and i think they're very very happy with what is currently going on because there is only just arrived yesterday into cairo to go meet with president sisi after an aborted trip to russia to go in with president putin so he's engaging these international actors that have no skin in the game so avoiding deflect attention from the very very actors the real actors that

in italy, our policy advice is that italy should continue to reduce public deficits and debt. italy's debt to gdp ratio is the second highest in the eu and is currently not really going down. caroline: they should, but what if they don't? mr. dombrovskis: that is why we have discussions with italian authorities in the context of european semester, our fiscal and macroeconomic coordination cycle, and also enforcement mechanisms from the eu side. we hope we can avoid these scenarios. in any case, during the late last year, we managed to convince italian authorities to correct somewhat. what will we must see be the plans for the coming years. every day, or maybe not every day, there is bad news in terms of money laundering, .egulation numerous banks with dirty money that flows through them. what needs to be done from a regulatory perspective to stem that problem? mr. dombrovskis: if you look at the prudential side, the european banking sector is much stronger than it used to be a couple of years ago. it has much stronger capital buffers, much stronger --uidity, it is building up

but chinese money has been flowing into italy since before bell to marry days involved in industrial imports city in northern italy a new container terminal is under construction creating four hundred new jobs. men monica giuliano is confident the chinese funding will boost the economy. my dream is to mean we have more investment watch that greater capacity for action . volumes of traffic interesting exchanges and the best thing is to sit at a table with officials from all over the world you speak about the near future in terms of employment trade and the need for specialized work because. i believe that it's a great opportunity the important thing is to always have respect for the territories in which we work. even neighbors remain skeptical fairing italy to could become financially dependent on china opportunities risks in favor of chinese suprema see all big topics at the summit in beijing around sixty five countries have already signed up to the project. and let's take a look at some of the other business stories making headlines around the world a pilot strike at scandinavian ai

france italy the u.k. and arab emirates they're calling on all sides to avoid military posturing and show restraint and stressed that there is no military solution to the libya conflict or cross live now to independent political analyst alexandrov thanks for joining us good to have you on as always as we just heard those five countries saying there is no military solution to the libya conflict is there really a bit of irony in that given they were all involved in the intervention back in twenty eleven which has led to the situation libya is in. good evening thank you very well it's ironic but my first observation based on that statement is that there is one notable absent. which is saudi arabia. and saudi arabia has a king just visited tunis a few days ago and he's moving in to the saudi regime appears to be moving into that region and interesting enough you have to enjoys also the backing of saudi arabia because it's. the. leader in tripoli. is backed by qatar the united which is close to the muslim broth

city in northern italy a new container terminal is under construction creating four hundred new jobs. men monica giuliano is confident the chinese funding will boost the economy. my dream is to mean we have more investment watch that greater capacity for action why are volumes of traffic interesting exchanges and the best thing is to sit at a table with officials from all over the world who speak about the near future in terms of employment trade and the need for specialized work because. i believe that it's a great opportunity the important thing is to always have respect for the territories in which we work. the neighbors remain skeptical fairing italy too could become financially dependent on china opportunities risks in favor of chinese supremacy all big topics at the summit in beijing around sixty five countries have already signed up to the project. and let's take a look at some of the other business stories making headlines around the world a pilot strike at scandinavian airline s.a.'s has stranded tens of thousands of passengers the carrier cancelled more than six hundred sev

city in northern italy a new container terminal is under construction creating four hundred new jobs. men monica giuliano is confident the chinese funding will boost the economy. my dream is to mean we have more investment watch that greater capacity for action than volumes of traffic interesting exchanges and the best thing is to sit at a table with officials from all over the world to speak about the near future in terms of employment trade and the need for specialized work because. i believe that it's a great opportunity the important thing is to always have respect for the territories in which we work. even neighbors remain skeptical fairing italy too could become financially dependent on china opportunities risks in favor of chinese suprema see all big topics at the summit in beijing around sixty five countries have already signed up to the project. and let's take a look at some of the other business stories making headlines around the world a pilot strike at scandinavian airline and say yes it has stranded tens of thousands of passengers a carrier canceled more than six hundred

i head back to europe via italy. but i've come to the southern province of where tomatoes are grown during the summer for export. i'm on my way to visit one of the farms. the crop is being harvested mostly by african immigrants. one of them is in three c. in new south from ghana he wanted a better life so he made his way to north africa and then to italy and now he's stuck here. i ask him what he earns picking tomatoes from the mobs are still going to do so much goes just do your all fifty cent per hour and not pay i want a son i say how much. how much do you hear oh i almost gave in you take one hour one hour to miss one hour you make one. you know so you you get three your three year fifty. they are your family are you on the top. i said they wanted to work their problem they just you tell it it's almost like it's living i guess in store to see. you three see is earning next to nothing harvesting the e.u. subsidized tomatoes and in the process he is indirectly hurting the tomato industry in his home country. like s

i head back to europe via italy. i've come to the southern province of where tomatoes are grown german this summer for export. i'm on my way to visit one of the farms. the crop is being harvested mostly by african immigrants. one of them is in three c. in new south from ghana he wanted a better life so he made his way to north africa and then to italy and now he stuck here. and i ask him what he earns picking tomatoes for tomatoes the business of those of us closest dream euro fifty cents per hour and not pay i want a son i say. how much do you hear oh i almost gave in you take one hour and i wanted to miss one hour you make one. you know so you you get three yours or three year fifty lest the hour your family. teach you all. i see the logic to work there the problem they just you tell it is almost like a slave enough i can sense or to say. adrian c. is earning next to nothing harvesting e.u. subsidized tomatoes and in the process he is indirectly hurting the tomato industry in his home country. like scott j. took in

risk of a snap election in italy. it could shape markets a little bit more. once that is out of the way that could be the point you think about reentering the italian market. yes, we are almost in bull territory, but coming back from where we were getting a blaster, it's a long way down. but i'm nervous about italy, the bonds of the market i have been avoiding. the economy has been slowing genetically. i and just seeing a headline that tesla is making significant progress in autonomous driving. the level is what level. for a timeis our guy of his driving, i would love to ask him what he thinks. hillary sent me this chart of the auto market. great on -- pun. they got clobbered last year, now they are coming back. we talk about fixed income investment in banking, but i wonder, do you have any desire to touch the auto market. --market? luke: it is three things. it is the conductivity, autonomy, and electric vehicles. they're all coming together in one. there is a big move in china in electric vehicles, i think autonomous

over in italy, napoli's poor run of form continues. they lost at home 2—1 to atalanta so it means they've now gotjust the one win in 7 matches in all competitions but for atalanta they've really surged into contention for a top fourfinish. it was all going to plan for carlo ancelotti's napoli. dries mertens giving the home side the lead just before the half hour mark. a 12th goal of the season for the belgian forward. but duvan za pata's career best season shows no sign of abating. the colombian playing against the club that brought him to italy, pulling atalanta level with 20 minutes to go. the former napoli player's 21st league goal of the season sees him second in the serie a goalscoring charts. he then turned creator backheeling for mario pasalic to score the winner in the 80th minute. napoli remain second six points ahead of inter milan while atalanta

italy is extremely weak. nots a modern economy following the path of other countries in the european union on the reform agenda. that is a big problem in italy and you can blame brussels or berlin for a few months that you are not having an economic positive development but in the long run, they will ask him what are you doing now? france, germany, finland, the netherlands are doing well but not italy. take responsibility and do your job at home and we can work together on the european level. maria: do you worry about the economic situation in italy? you hear many political commentators and economists saying this is a weary -- very worrying political scenario but the deficit will overshoot, it is a country that has not grown for nearly two years now. do you worry about it triggering the next crisis? manfred: it should concern all of us because the european union , the eurozone cannot have positive development when one big country like italy wants to cheat seven countries and lacking growth. that is what we ar

to italy now the country's economy is apparently in worse shape than its government has suggested for some time rome has forecast around one percent growth for twenty nineteen and it also said rising tax revenues from that growth would help limit any new dates to just over a moderate two percent of annual g.d.p. and those projections have changed now the latest forecast is for just zero point two percent growth and twenty nineteen and to make up for bad poor performance italy will have to take on new day it to the tune of two point four percent of g.d.p. now those new figures are weighing on investor confidence with lower growth and rising debt italy will have to pay higher interest rates when it issues government bonds for the last year its ten year bonds have yield. around three percent interest if rome is forced to pay investors more that'll put even more pressure on state finances and let's talk a little bit about that let's bring in a seaman gupta who's standing by for us in rome sima good to see you know there's one piece of good news and that is standard and poor's said another

imports city in northern italy a new container terminal is under construction creating four hundred new jobs. men monica giuliano is confident the chinese funding will boost the economy. my dream is to mean we have more investment watch that greater capacity for action . volumes of traffic interesting exchanges and the best thing is to sit at a table with officials from all over the world to speak about the near future in terms of employment trade and the need for specialized work because. i believe that it's a great opportunity the important thing is to always have respect for the territories in which we work. even neighbors remain skeptical fairing italy to could become financially dependent on china opportunities risks in favor of chinese suprema see all big topics at the summit in beijing around sixty five countries have already signed up to the project. and let's take a look at some of the other business stories making headlines around the world a pilot strike at scandinavian airline s.a.'s has stranded tens of thousands of passengers the carrier cancelled more than six hundred

>> in italy we have concerns, concerning economic and fiscal performance of italy and indeed, when current government came in office, they presented this year's budget was substantially increased budget deficit and we had difficult discussions with italian authorities on their plans to increase budget deficit in a station where they should be decreasing budget deficit, and we saw that also markets reacted negatively. so interest rates increased both for lending and for broader economy. as a result, confidence indicators went down. this negatively affecting investments and italy's economy slowed down very substantially. so if -- as of late last year, that this year's budget was built on assumption of 1% growth, just last week italy presented i would call economic and financial document with underlying forecast of 0.1% growth. so, one can say, okay, it's overall slowdown in eu economy, but still, the eu economy continued to grow with growth rates well above 1%. while we're presenting our next figures on this so i'm not quoting maybe all the figures which may be changing by now, but so one ca

i head back to europe via italy. i've come to the southern province of where tomatoes are grown joining this summer for export. i'm on my way to visit one of the farms. the crop is being harvested mostly by african immigrants. one of them is in three c. in new south from ghana he wanted a better life so he made his way to north africa and then to italy now he's stuck here. i ask him what he earns picking tomatoes from tomatoes are still going to do so much worse just three year or fifty cents per hour and not pay i want a son i say how much to do per hour how much do you hear oh i almost gave you take one zero zero one zero at a time is one hour you make one. you know so you you get three your three year fifty. they are your family or you will not teach you all. the logic sure that the problem they just italian is almost black like it's living i can't answer to say. three c. is earning next to nothing harvesting e.u. subsidized tomatoes and in the process is indirectly hurting the tomato industry in his home country.

but it is italy that is really flying the flag. francesco molinari was as cool as a cucumber all day. he hasn't dropped a shot since the first round and a series of birdies gave him a score of 66 and a two shot lead going into day four. cheering and applause. molinari hasn't won a green jacket yet but the way he's playing, he's going to take some stopping. cheering and applause. tim allman, bbc news. famous for his sculptures of glass, he has returned to kew gardens for his latest installation. over 30 sculptures on display, some never before seen in the uk. well, i love greenhouses, you know, and how can you not love kew? it's just the most extraordinary, with some 300 acres with all these greenhouses. it is notjust under glass that you'll find all these reflections of nature. the cherry blossoms are out at kew gardens. poking up our of the grass, not only tulips, but these amazing glass sculptures. this is just one of 32 installations across the gardens that are going to be here until the end of october. it's the work of artist d

but it is italy that is really flying the flag. francesco molinari was as cool as a cucumber all day. he hasn't dropped a shot since the first round and a series of birdies gave him a score of 66 and a two shot lead going into day four. cheering and applause. molinari hasn't won a green jacket yet but the way he's playing, he's going to take some stopping. cheering and applause. famous for his dazzling glass sculptures, artist dale chihuly has returned to kew gardens in london for his latest installation. with over 30 sculptures on display, some never been seen before in the uk, our correspondent wendy hurrell has been to meet him. well, i love greenhouses, you know, and how can you not love kew? it's just the most extraordinary, with some 300 acres with all these greenhouses. it is notjust under glass that you'll find all these reflections of nature. the cherry blossoms are out at kew gardens. poking up out of the grass, not only tulips, but these amazing glass sculptures. this is just one of 32 installations across the gardens th

country scored for troops also on the program europe's far right party seek to join forces leaders of italy's party have brought together populist political parties from germany denmark and other countries when big plans ahead of european elections. and a russian port suddenly releases film and theater director kill as have been recalled he was arrested or most two years ago for embezzlement and put under house arrest. class tackling germany's criminal clans police in berlin cracked down on families of the centerfold rebels nor listeners we have a special report. on and welcome of a touchy not welcome to the program verba troops loyal to former libyan general have closed in on the country's capital tripoli they've already taken control of large parts of the country forces aligned to the u.n. backed government say the amount to counter offensive wonderboy says authorities have close tripoli's only functioning airport rests. in countries meanwhile of calling for a truce and the resumption of peace talks. in benghazi members of have tars militia prepare for their onslaught on the capital tripoli

i head back to europe via italy. i've come to the southern province of where tomatoes are grown german this summer for export. i'm on my way to visit one of the farms. the crop is being harvested mostly by african immigrants. one of them is e.t.c. in new south from ghana he wanted a better life so he made his way to north africa and then to italy now he's stuck here. i ask him what he earns picking tomatoes from the mobs are still going to do so much closer to three year old fifty cents per hour and not pay i want a son i say. how much do you hear oh i. mean you take one hour one hour to miss one hour you make one. you know so you you get three your three year fifty. your family or. the two or. you not ritual that's the problem they just you tell it it's almost black like it's libya. i guess it is hard to say. you three see is earning next to nothing for harvesting e.u. subsidized tomatoes and in the process he is indirectly hurting the tomato industry in his home country. like scott chittick in the u.s. some time tr

a lot of questions there about italy as a big question mark is hanging over the region. dan, thank you for bringing us the latest on your interview with mr. demayo. also coming up on the show, we talk u.s. bank earnings. stay with us we'll be right back. unpredictable crohn's symptoms following you? for adults with moderately to severely active crohn's disease, stelara® works differently. studies showed relief and remission, with dosing every 8 weeks. stelara® may lower your ability to fight infections and may increase your risk of infections and cancer. some serious infections require hospitalization. before treatment, get tested for tb. tell your doctor if you have an infection or flu-like symptoms or sores, have had cancer, or develop new skin growths, or if anyone in your house needs or recently had a vaccine. alert your doctor of new or worsening problems, including headaches, seizures, confusion and vision problems. these may be signs of a rare, potentially fatal brain condition. some serious allergic reactions and lung inflammation can occur. talk to your doctor

this yr thirty five of wine producing countries are taking part but italy remains the world's top wine cellar the country sold more than eleven billion euros worth last year. if you're just joining us let me remind you off the top story that we're following for you troops loyal to a rebel libyan general advancing to the city of tripoli dozens have been killed the u.n. backed government says it's launching a counter offensive as rest and country school for troops. coming up ahead indeed have you news. in time and many young men are praying for divine intervention to avoid their idea of conscription of up to two years in the army. and iran struggles to provide relief to its citizens as it endures its worst flooding in a hundred years. those stories and more coming up indeed have you news asia do say with us if you can. it's up. to. the big screen big event probably. really know their stuff. with. and defining. the party and chats with solutions from around the world telecom. groups every week double. tomorrow today. w. . here what's coming up on the going to sleep so much news. to get th

italy as well also up 1% about 200 points higher. some surprising strength there in the services numbers transpiring. as we were just talking about on the show, there seems to be a divergence between what's happening at the mfrgs sector, which, of course, is exposed to china and the global economy versus the services sector, which is beginning to rebound somewhat not so much the case in the u.k., and you can see that right now ftse 100 has just slipped into negative territory on the back of some of the weaker data that we just had warngsz that for the month it looks as though gdp in the u.k. is tracking into contractionary territory. >>> can you see here's the board of chipmakers behind me. some of the key chipmakers they're all trading higher for that smartphone maker that has placed orders for taiwan, semiconductor chips. now, the stocks are also being boosted by positive sentiment after u.s. firm amd closed higher in trading yesterday. giving the tech sector a bit of a boost today in europe. switching to foreign exchange, and i wa

brexit and italy. this is bloomberg. ♪ tom: we say good morning to all of you. francine lacqua and tom keene this week in london and, we hope, in italy as well for a conference. right now at the u.s. mr. green. just to our right, you're left, is the jewel tower of another time and place, middle medieval england. that is where the cap the gold. wolfgang munchau of eurointelligence, in charge of gold and all of euro zone, and david bloom, who looks at gold through the windows as well. hsbc had a paper out on gold. david: we just had a conversation on debt and some views on italy. if you look at switzerland, sweden, norway, they have increased gdp 15% to get growth going since the crisis. question marks are the more you eat's. tom: a lot of people are on this call. goldis the catalyst to get out of the range? when we see what the ecb has got to give us. we have a meeting coming up -- they have no firepower. there is nothing much they can do. this kind of situation will cause gold to drift higher. we exp

i head back to europe via italy. i've come to the southern province of where tomatoes are grown during the summer for export. i'm on my way to visit one of the farms. the crop is being harvested mostly by african immigrants. one of them is in three c. in noosa from ghana he wanted a better life so he made his way to north africa and then to italy and now he's stuck here. i ask him what he earns picking tomatoes. i'm out also going to do some of those just three year old fifty cents per hour and not pay i want a son i say how much. how much do you hear oh what. a when you take one i wanted to miss one hour you make one. you know so you you get three your three you fifty. your family or. three to walk. the logic to work that the problem they just you tell it is almost black like it's living i can sense or to say. you treat seniors earning next to nothing harvesting emu subsidize tomatoes in the process is indirectly hurting the tomato industry in his home country. like scott she took in the us sometime transcon its kne

look at greece and italy. they were bailed out, italy wasn't. do they really wa nt bailed out, italy wasn't. do they really want another laggard in there? i really wouldn't be too confident that the eu will immediately say yes, come and join us. immediately say yes, come and join us. it's interesting isn't it, to see both articles and what they say about this and what the appetite is like in scotland for a second referendum because the first one, we remember it well here, we covered it closely and it was pretty close and it was really fractious that that time. it was like a mini brexit in terms of divisiveness. let's move on then to the european elections in may the 23rd, not far away at all. this article is looking at nigel forage's brexit party at spending most when it comes to the money it's putting into advertising through facebook. —— farage's. putting into advertising through facebook. -- farage's. it's not that much money but they are out spending most but it seems to be working. when you look, there was a headline over the weekend th

by leonardo da vinci when it was first shown in fourteen ninety nine it created shock waves through italy and beyond changing the world of art for ever but a twenty year restoration effort has revealed the awful truth of the original fresco only some twenty percent is still visible simply put we can no longer seen or understand why this painting had such a devastating impact. or can lead. to . this is the incredible story of a hop across europe following a trail of clues and documents hidden for centuries that suggests that labor bill and his workshop painted a mother last supper a huge life size kids' school but none other than the king of france does that painting still exist if so can it reveal the secrets of the original fresco. this is where the story starts in milan the most important fashion in business city in all of modern italy and in that sense not much has changed even in the fifteenth century along with a bustling city filled with artists and musicians. of all the city states and italy the duchy of milan was the most powerful the most exuberant and the wealthy. it's by far no

italy faces a potential new conflict with brussels after new economic forecasts show. the country's budget deficit spending rose to two point four percent now these two point four percent is the magic number that italy's new populist government said it was aiming for last year when it planned a big boost in social spending but that would have violated eurozone guidelines and the e.u. forced need to back down rome has also been forced to revise its growth forecast to just zero point two percent. now for more on this let's bring in our financial correspondent conrad who is in frankfurt. from. the governing council of the european central bank is meeting today what are they going to make of apparently much less growth in lee. christophe it's very very likely that there's a lot of grumbling going on behind closed doors at the european central bank about italy but it's also very likely not that we're not going to hear a lot about this from the e.c.b. as president mario draghi today and i can give you two reasons for this breaks it and the upcoming election for the european

we started in italy. this is an innovative product. we hope to create a new trend with these sleeping pizzas. cheryl: how long did it take you to figure out the cryogenics? >> it took to two to three years of development to see how ingredients reacted. we wanted to remain natural, no preservatives, no additives. it was a complicated process. we got there in the end. we sold half a million in italy. so italians eat this. cheryl: how has business been in the u.s. since you started shipping here. >> we launched two weeks ago. we've been doing great. we're really excited. lauren: i'm excited to give this a try. cheryl: what are the different -- tell us the different -- you've got several different pizzas. give us some of the pizzas, the styles we can order. >> we have eight different flavors. we have a gluten free margarita. we have pri primavera, truffe t, spinach, we have different kinds and we innovate. cheryl: this is really good. lauren: i feel like we're in naples. cheryl: thank you very much. is it going to be available to the rest

living she when it was first shown in fourteen ninety million they created shock waves through italy and beyond changing the world of art for ever but a twenty year restoration effort has revealed the awful truth of the original fresco only some twenty percent is still visible simply put we can no longer seed or understand why this painting had such a devastating impact. or can wait. this is the incredible story of a hub across europe following a trail of clues and documents hidden for centuries that suggests that layla bill and his workshop painted a mother last supper a huge life size kit but none other than the king of france does that painting still exist if so can it reveal the secrets of the original fresco. this is where the story starts in milan the most important fashion in business city in all of modern italy and in that sense not much has changed even in the fifteenth century milan was a bustling city filled with artists and musicians. of old a city states and italy the duchy of milan was the most powerful the most exuberant and the wealthiest buy for no wonder that many k