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tv   Business - News  Deutsche Welle  November 27, 2017 6:15pm-6:31pm CET

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unlike royals before them prince harry and meghan markle have found the road to happiness the pair are expected to tie the knot sometime next spring. this is day doubly news life on balance still to come months of wrangling the e.u. up close a controversial decide that many think causes cops. of both the rest of the day's big business stories and just a moment. i'll back with the latest news update at the top of the hour long as always the web sites. are going to have.
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your children like chocolate. without your smartphone. or to make jokes the supermarket. as we go about our daily lives human rights are all from the last one minute. invisible hand. when in the twenty first century starting december second to fall and double.
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a breakthrough with the e.u. is a weed killer case it finally gives the green light to the contentious chemical glyphosate but it's a compromise the board please farmers or environmentalists. a verdict in the fraud trial of anton chekhov and his children the collapse of his drugstore chain cost thousands of german jobs what has it cost his family. and a boost for bitcoin cryptocurrency cracks another record high is a bubble about to burst. i'm invisible and let's do business member states had been wrangling for months there were protests by environmentalists and consumer groups wired life to say could cause cancer but the european union's now approved a five year license for the controversial pesticide which is widely used by farmers some countries argued the batting it's years could have caused food prices to
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skyrocket after martin's joins us now from brussels correspondent there catherine you've been covering this story for a year is a surprise. well indeed it's really a breakthrough for more than two years the member states were not able to deliver in this question it was really a so-called hot potato here in brussels and it's really a surprise in terms of who really moved regarding the member states according to diplomats the key swing vote came finally from germany making it possible that there is the needed qualified majority in order to make a decision so now that it's a program to say it a decision there is no ban but three have five more years of the read killer on the european fields and this is really the dave or this never ending story has and and now we really have to see if it's unhappy and for some or for others what it really
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represents there well gives us a five year break from having to talk about the issue again but only a partial victory so far as the chemicals companies. well we have to know that life as that is has been reduced over forty years of these european farm us across the european union so of course they hoped to really have a fifteen years extension off the weed killer in terms of production in terms of. food supply chains of all to destabilize the agriculture sector but of course they realize that fifteen years is not possible so the five years for them it's at least a period where they can prepare for example for another week killer because they are their argument was all the time if we have an immediate ban on blood guy for side it does not mean that weed killer strokes disappear from our european fears it just mean that we take another weed killer in this could even be more dangerous for
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the house for the bottom line of the night's decision is really that member states afraid to destabilize the great agriculture sector in order to destabilize the agriculture sector and to say you know it's a key sector for us and we really prefer to have a five year extension of two life is that in order to prepare maybe a return to this now after what's correspondent on that breakthrough in the e.u. we get a case from brussels states that are of the bankrupt european drugstore change has been the health lightly but not as kids a fraud trial in two adults like has collapsed company has ramped up just got sentencing the seventy three year old tycoon to two years probation for embezzlement but you prison for his children laws and micah. it's like a brand is well known across europe at the company's peak operated fourteen
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thousand stores in thirteen european countries a portrait of a self-made german multimillionaire hung in every branch of what was once one of the biggest family dynasties in germany now according to court has sentenced the businessman to two years in jail which it suspended for two years his children lies and michael will go straight behind bars when me and three years it comes down to the money once it became clear to that his company would go bankrupt he moved around sixteen million euros in the company money but the court says belong to the drugstore chains creditors some of that money went to a logistics company that belonged to his children lars and mica they siphoned millions from the logistics company before declared bankruptcy but got a lighter sentence. that's because. it didn't amount to as much financial damage as his children's their fraud cause damages were six point one million euros in total so they were given longer sentences than their father. the bankruptcy
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rocked germany because over twenty five thousand low skilled workers were left without jobs as investment declined and the stores became rundown only desperate customers which shop there another week another record for big oil the digital currency broke the nine thousand dollars ceiling early sunday because it has been on the rise for months as more and more investors take on interest in the volatile virtual currency of greater currencies also seen some financial experts have been less a list of the county and he warned the bubble could be about to. let's go over to daniel cope alpharetta correspondent in frankfurt and andrea hang you're standing by for us in singapore and let's start with you what's the view from asia is it all euphoria or a lot of caution. i wouldn't call i would describe it as euphoria a bit but there is certainly
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a lot of strong interest in asia is more developed markets and we're talking about . south korea china singapore even japan which is where the big question inventor is from now a lot of this new boost of for the big market is credited to this strong is yes i'm from asia investors we also seems of great traction in other markets such as india indonesia high and the philippines now these are markets that are seeing a lot of cross border transactions and big quite is eradicating that middle bit the banks the process making it easier for transactions to take place which is why the banks are like this at all will get that get to that in a bar but with daniel daniel first of all though how much bigger do you think this bubble is going to get before birth what i can tell you better from the frankfurt trading perspective that investors here are taking a boost around the bitcoin actually very seriously but they're also telling me that
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it's very risky just last week for example on one day within just a few hours the bitcoin was dropping by more than five hundred dollars now we have this new record experts are telling me that they're also thinking that this record rally is going to continue a little bit earlier today i spoke to a whole lot however he's a financial market analyst here by the bank and here's what he had to say about this. as a brush with you i hope it's no surprise to me that they're so popular people are pouring into bitcoins because the idea of crypto currencies is fascinating it's a new object of speculation which has taken off dramatically since twenty sixteen one hundred percent and that is drawing the attention of the financial sector they're trying to enter this market by introducing new financial instruments right now you only have limited options to invest money so interest rates are at the bottom end for many stocks have risen too sharply already that's why many tend to invest in the new cryptocurrency is so interesting daniel it's also
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a really popular way of raising funds for startups but some call it a lawless land just just how risky is it well it is very risky because the thing is normally when you're for example invest your money and stocks or you know when you do a regular crowd from founding all of this is sort of regulated on the one hand of course by banks then on the other hand also by venture capital givers i would we talk about bitcoin this is not the case there's not really a law that in any way you know could forbit you to do something so that's why investors and also a whole bunch have a little bit earlier was telling me that this somehow needs to be also controlled by the government ok so regulators are closely watching this and china is also watching extremely closely cracking down on the crypto currency has it cracked and actually stood the value of. most of us think it's certainly has
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there's no real decision on the band just yet ben but if anything this points to eat certain popularity in bitcoin particularly in china and it certainly has boosted the evaluate of big quitely so past the six thousand dollar mark in october and as daniel says it is only going to increase from there well don't you when when are we going to get a common line on the cryptocurrency do you think because we mentioned before bank bosses have likened bitcoin to fraud at the same time you can now buy bitcoin futures and it's accepted in so many countries as an official currency now. when are we going to get some sort of common line do you reckon just last week the bonus bank c.e.o. yet in frankfurt was stating that for him because it is not a real money but yeah you just mention it you can buy bitcoin futures even i'm a zone that's the rumor at least might be announcing very soon that you can buy
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that you can do your shopping by paying with bitcoins so it's really going to be interesting how all of this is going to continue for countries for example of venezuela this is already kind of like the second currency the new pope thank you very much for your analysis from frankfurt and hang there in singapore for us finally chinese prime minister leakage says his country's cooperation with central and eastern europe will boost the region he's announced three billion dollars worth of funding for development and abasement projects at a summit in budapest and bury him prime minister viktor orban welcomes the interest is keen to increase trade with asia and portray a western europe is economically challenged but some of the projects announced like the budapest belgrade rail upgrade have come under scrutiny and been halted due to a lack of transparency. update on all the business news lies doing business with
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you as we'll see you again very soon. about.
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