tv Business - News Deutsche Welle October 4, 2017 3:15pm-3:30pm CEST
were affected by a two thousand and thirteen data breach not the one billion it revealed late last year the company said user information such as the passwords of credit card numbers or bank account details were not compromised yahoo also says it has taken quote significant steps to their security reminder now our top story at this hour spain's king philippe has intervened in the country's constitutional crisis criticizing catalonia as independence bed as on lawful. thanks for watching we're back in thirty minutes. that's not news and germany is a strong country. that we have achieved so much we can do this and if something him
to resign we must overcome it. going where it's uncomfortable global news that matters j w made for mines. climate change. waste. pollution. isn't it time for good. to go in africa people and projects that are changing no one garment for the better it's up to us to make a difference he could forgive our magazine d w. editor at. the european commission is getting tough on us tech companies you i'm to trust commission i'm not very divest ireland to collect thirteen billion euros in back taxes from i phone maker apple and brussels are sending a big bill to amazon to. the commission has today adopted
a decision that i'm a son's tax benefits. on the e.u. stated beliefs. also coming up spades blue chip stock index tumbles as tensions between catalonia and madrid escalate. and cuba as a fledgling tourism sector becomes a victim of a major diplomatic squabble. welcome to the business and to trust commission a mug of eight of us tiger has finally taken ireland to toss preferring it to the blocks highest court on wednesday for failing to collect a massive thirteen billion euros in back taxes from aca the. had ordered island to do that one year ago the e.u. commission is also ordering amazon to pay two hundred fifty million euros in back taxes to luxembourg vest august at the small western european country had granted the online shopping giant an illegal tax break meaning almost three quarters of its
profits had gone taxed so the e.u. commission seems to mean business but why now well let's ask our brussels correspondent bob. both ireland and luxembourg and holland as well of course they're all know that for their generous tax rules in order to attract big corporations why is the european commission having a problem with it now. it's not having a problem now but it's going through the back catalogue and sort of making little points into all those cases that have been thrown up particularly if we remember three years ago as to the looks leagues of scandals where that which was one of those cases where the european commission suddenly had to look at all these practices and say no this can't be true this cannot be allowed those are cases of illegal state aid they are big big multinational companies are being favored by those states as opposed to normal regular local companies or even european
companies who don't get the same treatment so this has to stop and now they are just going through the catalog and it's a major exercise of housecleaning more or less what we see you know ok but those big u.s. companies certainly some from silicon valley are already threatened that they would invest nests in those countries if they didn't get the kind of tax breaks that they've received so far looks like those companies can dictate the terms here in europe. legally they count politically it's another ballgame the commissioner migrate of esquire was quite firm and asked for instance whether this where the beginnings of a tax war or a sort of trade war between the united states and europe and she said we make the rules and the companies and the member states have to stick to those rules otherwise they'll be unequal treatment and we have to have level playing field among the companies in europe everything else is just not right and we have also seen that at the last summit meeting in tallinn the big four berlin rome paris and
madrid have come forward with a proposal saying we need to reform tax rules we need to unify them in europe and we have to sort of state one principle that tax is to be fit paid where the profit is made now it's going to take a while till that has been pushed through however they are on the way ok they have to walk the talk now in brussels thank you so much for this the possibility of catalan independence has angered the rest of spain and it is weighing on the country's economy in madrid the ibex stock markets dropped to below ten thousand points for the first time in over two years as tension between the governments in madrid and catalonia continues and some say that a catalan break away from the country could leave spain vulnerable while it's still on the road to recovery but there is also concern catalonia cannot realistically afford to go it alone. spaniards like yourself or gomez lost their jobs when the country's banks were on the verge of collapse she runs this community group one of
many for those affected by the credit crisis for them no investment from banks meant no opportunities for businesses to grow cutbacks followed unemployment has since dropped nationwide but spain is still very much in recovery pro independence catalans are confident they say their industry and tourism will help them go it alone but breaking away would certainly slow down spain's return to the level of its pre-crisis economy however it would be wrong to overstate the impact catalonia attracts fourteen percent of all of spain's foreign investment still it lags way behind the spanish capital madrid which brings it almost sixty five percent despite being a top tourist destination and a big exporter of catalonia comes forth in g.d.p. per person behind other regions madrid the basque country and navarro. independence could have a downside for the catalan economy too hundreds of companies have chosen to move headquarters elsewhere in spain worrying that disruption and change in catalonia
could upset their business that's cost the region billions of euros in lost opportunities many firms are coming up with backup plans in case of independence. the outlook here in barcelona is usually sunny but the economic clowns for those spain in catalonia won't go away as long as the independence question goes unanswered. well let's see how the turbulence in spain affects investors in the rest of europe today. frankfurt stock exchange what's the word on the trading floor there. well you know it's affected trading here because the dax reached a record high heard at the beginning of trading and then catalonia was one of the reasons some say the main reason for those for that record high being left and then the dax trickling away just in the recent little while the picture has brightened again somewhat but it is a worry there's no panic here yet although some people are developing drastic
scenarios if indeed there is independence that is called for and let's say the government in madrid is supposed to react but so far people are still looking at other part as a positive factors for the market the uncertainty that's very high in the madrid market the thirty five here the counterpoint to the dax that's going down by a large margin and especially hard hit are cattle and banks and the economics minister for spain louise to windows feeling the need to reassure cattle and bank customers that their money is safe they're all right on the bottom front thank you so much for this. one green energy who grew at a record rate last year the international energy agency says almost two thirds of newly built power generation capacity in twenty sixteen utilizes ring you oppose sources almost half of that new electricity was generated by solar cells for the first time solar grew faster than any other form of energy even coal thanks to
a strong push in china the. lower cost unhelpful legislation made this rapid growth possible so and china is a big driver when it comes to renewables how did that happen let's bring in andrea hang in a single address i mean for decades china was the wild sweat shop how did it manage to switch gear and suddenly become a leader in reading renewables. that's a great question and i think it's a mystery to many of us what two things monaco the first being the rising influence of the middle income population in china their views on the dangerous levels of pollution in china are being hurt as a general dissatisfaction so that's influencing the way the government is pushing what's renewable energy and the second thing all of it is a bigger picture of course is china wants to keep its good global image
economically politically and now socially as well so what is the the business potential for chinese renewables where are the biggest markets or right now still remains to be seen china does has. that have a goal to reach and that is to develop and deploy the real energy technologies this is of course on top of the solar panels that they are supposedly dumping in you still looks to be a source of high demand in terms of renewable energy because global energy global renewable energy is supposed to be climbing up to forty percent by twenty twentieth's so we don't see that in one winning and that's a business opportunity for china all right andrea hang there in singapore thank you so much. relations between the united states and
cuba gone from promising to ice cold in a matter of months last week the u.s. state department has issued a travel warning for u.s. citizens heading into the caribbean country is a bit a blow for those on the islands preparing for a tourist. it's a picture postcard view of cuba but the united states says there's more than meets the eye its embassy employees were attacked and fellow americans should watch out. as hostile owner is disappointed. at some hospitals how long will she and clients through agencies all have regular tourists over the years that are coming from france germany spain but those who opened with american a tourism and wind have collapsed. and the. europeans just can't make up for the economic power of americans so says all land martinez who drives tourists around and have honoring cuba's famous classic cars so you're making up obviously it
affects us because as far as i'm concerned american tourism is the best there is there's no other like it in terms of tips and everything and probably not until cuba had prepared itself for one hundred sixty thousand visitors from the united states alone this year a wreck or for recent decades but it seems the predicted u.s. tourism boom will now be more of a bust. that's your business update here on did w. for now thank you for keeping me company but you can always find out more of course if you check out our website or follow us on facebook and twitter and i'll be back with more business news in the next hour.
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