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tv   Business - News  Deutsche Welle  November 28, 2017 12:02am-12:15am CET

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new coalition with the center left social democrats led by martin schultz that's after talks to form a government with the green zone pro-business free democrats collapsed. a breakthrough in the e.u. is weak case it finally gives the green light to the contentious chemical blithely say but it's a compromise that won't please farmers all environmentally. coming up a boost for bitcoin the cryptocurrency cracks another record high but is a bubble about. and a verdict in the trial of. his children the collapse of his drugstore chain cost thousands of german jobs has
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a cost his family. this is your business update i'm headed on frame by ed thanks for joining me you can trees voted to extend the license of the controversial weed killer a good life for sate in brussels on monday but it was a tight vote germany surprisingly voted in favor despite environmental concerns the country social democrat dep environment minister accused the conservatives of going against her wishes though saying germany should have abstained and the states have been arguing about the weed killer for years. protesters were out early this morning in brussels demonstrating a tug of war between competing interests fighting for the future of the controversial read killer in europe but the european commission finally approved the use of life to say for another five years critics maintain the chemical is dangerous. over all days like a major scientific on medical issues that are not totally like him and may seen
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evidence of all day in part on the environment but also we are growing least seen like a huge body of evidence independent evidence linking deficit with cancer. the world health organization says there is evidence that life will say it is probably carcinogenic no other research including that of european health authorities is inconclusive. life oh say has been used in the industrial production of food worldwide for so long now that few in the agricultural business can imagine life without it but critics maintain there are other chemicals that have the same benefits but fewer drawbacks. the only thing that most people can agree on is that life was saved is the active ingredient in monsanto's roundup products and that the brand is one of the key sources of revenue for the u.s. company when our special correspondent in brussels catherine martens and i asked her if she was still surprised by this decision in
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a case that's been debated for so long. well as observer of service in brussels we knew that there was always a slight majority of program for say there were a lot of countries like scandinavian countries eastern european countries very program for sale so that the majority of member states all educated the glaive was a case that was not a surprise but that the fact that the key swing vote came today from germany this is quite a surprise and we only can assume because there was in the german government they verge of bidets over that question the conservatives for a programme for senate and the s.p.d. the social democrats were against so today obviously the conservatives wanted to use this kind of window of opportunity to get this deal done to get to keep going on the market and to kind of overalls as the social democrats and to send
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a clear message to the german industry in the context that the chemical giant buyer is about to strike a deal with one side to which uses clive presented so it would be a huge market with a location in germany and obviously the conservatives in the acting government very keen not to miss that opportunity catherine as you point out germany voting in favor neighboring france against can we expect president mccall to accept this defeat. well the president the french president has a very clear position on glaive. they really wanted really a ban on life aside and he already announced that he will try to get it down to three years and by the way in legal terms this is totally possible national member states can restrict the use of life as aid if they want to only for their member state and so there is indeed this was really the core of the deadlock we had for
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two zeros that france was against and germany was always tried to abstain in the vote because there was no clause clear position in berlin and now the fact that germany. kind of made the qualified majority possible shows that france had not enough power finally to get life as a ban from the european markets and very briefly catherine farmers and chemical companies are only seeing this is a partial victory why is that what the best case scenario for farmers would have been fifteen years more of life to say that this would have been really the best case scenario that that would have meant really a solid. expectation a solid legislation in terms of supply chains for us sellers across the european market five years as more a transition period in order to get research research done for another week killer
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catherine martins in brussels thank you. weber monitoring companies in the united states say shopping on small phones in tablet computers will top cyber monday orders from desktop computers for the first time in the short history of e-commerce moment comes the shoppers are expected to spend six point six billion dollars on cyber monday a jump of over sixteen percent from last year as ins distribution centers were running full speed as the orders poured in the company says it has hired more than the one hundred twenty thousand additional workers to cope with the holiday gift giving season let's go to our financial correspondent so fisherman ski on wall street then sophie cyber monday is big in the u.s. but is it as big as the well established black friday. yes well this weekend marks not only the start of the most important season for retailers but
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it's also the start of the christmas season and the main event for retailers and general and online retailer has simply become the backbone of this crazy shopping weekend with more americans buying online than people actually hitting the mall wildstar traffic has been down slightly poor care estimate total online spending on monday to third has a six point five billion dollars this would make cyber monday the largest digital shopping day in u.s. history with a sales climbing more than sixteen percent from a year ago and as of ten a.m. eastern time monday morning eight hundred fifty million dollars have already been spent driving clicks and fans all over all this holiday season have been smartphones and also other mobile devices where autofill is helping consumers to click and buy quickly. all right stay with us if you are going to be coming back to
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you in a moment but first another week another record for the corn the digital currency broke the nine thousand dollars ceiling early on sunday but growing has been on the rise for months as more and more investors take an interest in the volatile virtual currency of the cryptocurrency have also seen boosts some financial experts have been less bullish over the currency many warn a bubble could be about to bust so back over to sophie szymanski in new york then sophie how high could go and how risky is it seen as being right now . yeah well head of the digital currency has also benefited from the thanksgiving weekend the biggest exchange place for a bit con year in america is calling base which is an app and they added roughly one hundred thousand new accounts around this time but i would say that the boy says who a warning the bible is about to read have never been louder these are by will tend
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to end in tears one hedge fund manager head on monday and the head of galaxy investment partners think bit corn on the other hand will have ten thousand dollars before the end of the year and fun strad has a mid twenty eighteen price target of eleven thousand five hundred dollars and nearly double what it was in mid august this year the concept of currency has not changed in the long time so as the rise of a crypto currency is unprecedented and the us couldn't disagree more on bitcoin pretty hard to know when to hold them and when to fold of so few months get almost straight thanks a lot. the founder of the bankrupt european drugstore chain schleck a has been let off lightly but know his kids a fraud trial and his collapse company has wrapped up a german court sentencing the seventy three year old tycoon to two years suspended sentence for embezzlement but two year prison terms of his children lost and micah
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. the schleck a brand is well known across europe the company's weak unchecked operate at fourteen 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 at ports in stuttgart has given the businessman a suspended prison sentence of two years and his children lars and micah slicko go straight behind bars for nearly three years it comes down to the money once it became clear to the his company would go bankrupt him moved around sixty million euros in the company money that the court says belonged to the drugstore chains creditors some of that money went to a logistics company that belonged to his children they siphon millions from the logistics company before declared bankruptcy but got a lighter sentence these days that's because like his fraud didn't amount to as
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much financial damage as his children's their fraud cause damages worth six point one million euros in total so they were given longer sentences than their father. the bankruptcy 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. that's what you have to say with the latest from the world of business more find us on facebook follow us on twitter any business headline there as well as a missing help for a mind to see. the
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