tv Business Deutsche Welle September 13, 2019 5:15am-5:31am CEST
to the latest news from around the world push notifications for any breaking news you can also use the app to send us your photos and videos of what's happening where you are up next catch up on the business stories making headlines with d.w. business news my sweater live from berlin thank you so much for joining us. literature invites us to see people in particular that i like to see as the kids find instruments grown up. might try to. find. the debris books on youtube. where is home. when your family scattered across the globe. because
it's due to the easy to come. back to the roots every minute of the. bush family from somalia live around the world. needed urgent assistance. starts october on. our drug departs with a bang the president of the european central bank announcing another stimulus package right before the end of his tenure also coming up germany's flagship car show faces an existential crisis perhaps this was the last time a sitting chancellor opened the frankfurt motor show and china has been a look at of markets for american gin saying but the trade conflict between washington and beijing is hurting business. i'm chris cuomo in berlin wall come to
the program at this final european central bank policy meeting outgoing president mario draghi pledged indefinite stimulus to revive a flagging euro zone economy among the measures the introduction of a bond buying program and another cut in interest rates pushing borrowing costs further into negative territory the move is part of efforts to get weak information to rise to just under 2 percent the level experts believe reflects the right amount of momentum in an economy that's the druggy handover to former i.m.f. chief christine lagarde of the end of october you will go down as the man rescued the euro the z b is ready to do whatever it takes to preserve the euro. those were the words that finally convinced global financial markets that the eurozone common currency is here to stay druggy then began doing whatever it took to get the ailing euro on the road to recovery after it came close to collapse in
the wake of the greek debt crisis. as italy's former central bank chief took over the e.c.b. in november 20th 11 economists and the media were skeptical the global financial crisis was still reverberating through markets and the euro zone member greece was close to economic collapse but turkey didn't hesitate he set about encouraging lending within the eurozone with a string of rate cuts in march 26th seen they reached a historic low of 0 percent he's even handing on negative interest rates to his successor christine legarde something once considered thinkable the e.c.b. also bought 2.6 trillion euros of sovereign bonds from financially weak a member states and later a private company bonds the cash injection saw the eurozone economy pick up speed again and unemployment reseed critics say asset purchases are a form of borrowing against future generations but doing whatever it takes to put
an end to the eurozone crisis and also put a swift end to speculative financial market bets against the euro aimed at causing its collapse. over the walls for now and our correspondent court against the people there think the decision is the right one in order to deal with these largely outside factors that are hampering. yeah interest rates in the euro already had been negative now they are bid to more negative yes that's the big debate over here if that's really going to work the trick to get the european economy going once again but also this very aggressive step to relaunch a bond buying program that was a bit of a surprise who knows if that's really going to help one of the factors so why all those negative rates have not really increased them growth so much is that
their companies for example do not necessarily use the cheap money to invest but to buy back their own stocks for example. thanks for now but do stay right there because these reviews move has sparked fury in the white house president trump tweeting they are trying and succeeding in depreciating the euro against the very strong dollar hurty u.s. exports and the fed sits and sits and says they get paid to borrow money while we are paying interest yes back to you on wall street the fed has to decide on its monetary policy next week a cut in interest rates is very likely thanks to mr trump's interventions or what exactly is this. well officially nobody says that the federal reserve has reacting to the harsh words from u.s. president donald trump amid all by the way on wednesday he did call the members of the federal reserve boneheads but it seems to be
a certainty that interest rates will be cut next week when stay very likely by 25 basis points we see a hardly any inflation here in the united states and we do see some signs of weakness economic growth especially in the manufacturing area and that's why the probability is basically at 100 percent that the fed is going to cut rates 2 and scored in new york thank you. u.s. soybean farmers are among those hardest hit by the u.s. china trade war as china is imposing hefty retaliate or tariffs on their products among those profiting from the ongoing dispute are soybean farmers and crushers in argentina for the 1st time in decades they'll soon be allowed to export to china. while china has been the top buyer of rawdon time soybeans it has long resisted opening up to saw a meal in tinian industry insiders say the u.s. china trade war helped make argentina and saw in me like sports more alluring as
beijing diversify as it supplies and lets washington know it has other options. and uses argentina's the largest exporter of soli in the world and china is the largest consumer the signing of this protocol establishes a solid and legal basis for the conversion of these 2 huge markets i hope the 1st shipment of argentine soil to china will come shortly night. the pact came faster than many expected and it means argentina could export 31000000 tons of soy milk from this year's late harvest though the amount china will take still depends on demand linked to swine flu currently hitting the country's hold her. to germany and it's been a long way from the car exhibit in berlin back an 1897 to the frankfurt motor show today one of the most important auto industry events in the world germany has
lagged america has officially opened this year's show themed driving tomorrow and indeed it does showcase all the shiny visions of next generation mobility but for germany's carmakers there's plenty of reason to doubt that future he double used an album along reports from frankfurt. outside the grounds of the frankfurt motor show protesters carry signs calling for the band of insulin and petrol engines they're criticizing the car industry for their role in the climate crisis inside german chancellor angela merkel opened the show with a reminder to car makers of the cost of past mistakes specifically the emissions sheeting scandal that saw an entire industry sell cars they said were less polluting than they actually were. the problem of illegal defeat devices the one that led to a loss of trust weighs heavily on midst a period of great change. therefore it's only right and important for the sector to show it can be relied upon. that's why the cars shown to her and her traditional
walkabout focus heavily on the emissions technology like electron ability. but this giant multi-billion euro push into the future may be too little too late and the showcase of it obsolete. this could be the last time a sitting chancellor opens the frankfurt motor show at least in its current form this show is experiencing an existential crisis akin to the one the auto industry itself is facing automakers are called upon to justify their place in the world amid ever worsening environmental crises i made souring public opinion at a time where the economies of their key markets are spidering like say china or incidentally like germany bad news for a sector that produces the country's most lucrative export and employs more than 800000 people and these gleaming new offerings of germany's prized industry may find their way into fewer and fewer garages further slowing down
a change of course for carmakers. and some of the other business stories making the news online search engine google says it has agreed to pay nearly 1000000000 euros to settle litigation british french tassel prosecutors were looking into whether to go to redirect profits from the french market to ireland or touches a lower. us all barren and corporate raider t. boone pickens has died aged 91 he was known for his willingness to take on big corporations particularly and their moments of weakness originally made his fortune in oil the company founded petroleum. now let's talk about a mere rock planned one that's touted as something to improve brain function and boost the immune system has been used in chinese medicine for thousands of years and since the 18th century much of the gin saying on asian markets as actually been
grown on u.s. soil which makes it you guessed it another commodity caught up in the better us china trade or. the rich soil of marathon county in the u.s. state of wisconsin is perfect for growing the medicinal plant gin same china has been a lucrative market for american gin saying but ginseng is one of the agricultural products subjected to tariffs in the ongoing trade war between washington and beijing the result a 20 percent drop in sales to china farmers fear for their livelihoods they can't react quickly to market changes because juicing takes up to 5 years to grow and harvest up off your present croft from last year. on the market and we have a new crop coming up in about 4 to 6 weeks so it's a has been a hard time for jones and farmers here around 2 thirds of the wisconsin ginseng crop is exported to mainland china jungmann tulle started farming ginseng here 9
years ago but the ongoing trade war is hurting he's trying to stay positive by taking the long view or present more what has always been to bring the bears from wisconsin or us for trial that more was their spies apparently. and according to some ancient chinese texts he carps one of the symptoms that jin singh can help to alleviate. and that wraps up our program for more you can always visit . business or check out our social media sites for now thanks for watching and have yourself success.
w.c. talk show strong opinions clear positions from international perspectives beijing is taking a tough stance on pro-democracy protests soon home his economic influence is growing dramatically and exposing its military to france so is china striving for global supremacies find out to the point. 16. i think is everything challenging 1st and i'm big on this new. ringback song much different culture between here and there challenging for everything. to do some business i think it was worth it for me to come to germany. my
grandmother license to work as a swimming instructor. and our 2 children 100 dogs just one of the toughest. what's your story take part charity on info migrants dot. now here's a shocker germany is an automotive titan and totally devoted to the automotive industry cars rule the roads and to a large extent of the economy people all over the world love german cars perhaps a bit less since the diesel gate scandal but mysie dispense potion.