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tv   Business - News  Deutsche Welle  February 24, 2018 12:02am-12:16am CET

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big day for june is automotive industry as it's old time point seven million causeless year profits have doubled and automotive in china takes a major stake holding in germany's bank. and shoring they say shouts in a global first the island nation of greece to protect its waters in return for debt relief. time for business news i'm funny for sure in berlin well come to our program germany's scandal plates folks bargain more than doubled the profits for last year to eleven point four billion euros. up by just over six percent to two hundred thirty two point seven billion euros now v.w. ranks as one of the world's largest automakers setting a template seven million vehicles worldwide last year that's despite a company admitting many people waiting so fare on eleven million vehicles worldwide corner duzen reports from the frankfurt stock exchange.
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when you do the deal with me. one of the weaker ones here in frankfurt. was not according to the. chinese investor at least shifu see geely company has become the largest shareholder in germany stonor a company stock market filing say he bought a nine point seven percent share in the maker of luxury order now. is the chairman of giving automobile holdings a lot international automotive company based in china the billionaire already has holdings in europe gilly acquired sweden's wallboard car maker eight years ago. and time for the latest from across the pond so let's turn to saw fisherman ski our
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correspondent on wall street have a selfie in new york nice to see you now first off the monetary policy report has been released to congress today tell us more what we should be looking at in that report. both for investors the main question at the moment is certainly if there might be a force rates hike in twenty eighteen and the report offered only little clarity and that required in the center of it it was basically the fat's assessments of the american economy and how they are going to further proceed with monetary policy and their main instrument the federal funds rate in this report policymakers see an economy that maybe even past full employment financial market prices that are high and overall growth that continues to gather steam so all in all the fed sees rate hikes as appropriate as quote economic activity will expand at
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a moderate pace and labor market conditions were remain strong quote and the report owed so noted that valuations in the stock market are high even with the major indices falling. so if you just briefly please if you could of you're hearing bank of america is very much worried about the strap a script to currencies to its business why is that. ok so here's what the bank's regulatory filings said cryptocurrency as a competitive threat to bank of america business and it doesn't come as a surprise at all that an established bank here's something that is basically set up to revolutionize the banking system because the underlying idea of basically any crypto currency is to avoid the gatekeepers so big banks and basically democratize the system of currency so thank you so much for your reporting from wall street. of course cryptocurrency. more than just making
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a quick buck digital money has the potential to revolutionize the world of finance while machine learning makes huge strides the much a young man who's developed the technology to all the machine to machine payments. easiest to cut out the airport dominic shino twenty two year old programmer with big plans. the entrepreneur is flying all over the world to promote his digital currency he's put the code for it out in the public domain called aims to vent pollution nies transactions especially those that in the future could be carried out between machines. on our mission isn't automation it's to make things independent and the way we make machines independent is to give each of them a digital wallace and what we do then is get the machines to paycheck other one good example is the car paying its own parking fee in the future that'll all be
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sorted out by the car and it's partly or it's charging station or the road tolls sons or. groceries offer another opportunity for automation like a fridge that makes purchases automatically and pays digitally cryptocurrency could be the money of the future best known as bitcoin which is based on block chain technology she believes it's already outdated. but if i want to carry out a transaction i have to pay fees of between ten to twenty dollars obviously more expensive than a bank and if you look at the machine economy where one machine is paying another we're not talking about larger transactions like ten dollars so we're looking at transferring micro payments a few cents at a time so you can only do that with the. the e.u. with a currency is based on what's called a confirmation of a payment functions much faster and more cheaply than with block chains from competitors like bitcoin small sums are easily dealt with. it's just
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a secure. good thing about your size that we've got a lot of researchers on board almost ten mathematicians they're laying at the theory behind the tangle their validation that with solid proof which is what we're working on. until now people are still shopping for groceries rather than leaving it up to the fridge but cryptic currencies are bringing the days of machine to machine transactions one step closer all right you know what that means they can all of the paris international agricultural show this week in paris. are anything but happy they are concerned about unemployment if a free trade deal comes into force in the south american. this kells dealt full expression says it all there's an undercurrent of anxiety at this year's paris international agricultural show farmers here dreading the arrival of more terror free meat from brazil argentina uruguay and power as soon as the free trade deal
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comes into force brazil is already the world's biggest meat exporter. the farmers trade union says the trade around twenty five thousand livestock farms and friends on shaky ground blow to a country which prides itself on its food and where it comes from. i would say that in france we have a. number two ninety two have a diversity of diversity of products it's also a country of yes agronomy we have farmers who are passionate about their work attached to the soil and i think there are certain expertise in our region and. the french president and manuel monthlong has staked out a middle ground ahead of the major farmers so. farmers to invest more rather than complain about overseas competition while also promising to protect them from foreign land buyers. air b.n. b. is on the skull for new growth opportunities many cities have restrictive the
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service hotels have been complaining and some air b.n. b. customers complain the places don't live up to expectations. the rentals platform could be on the doorstep of its public listing and is looking to raise its game by introducing a new plus program the company hopes to appeal to travelers who are skeptical of booking unseen properties over an automated website personally inspecting accommodation to ensure only the highest quality homes get the seal of approval to bump the price to boot the luxury market is hotly contested but the timing is right at b. and b. announcing growing bookings at its first operating profit last year giving it the firepower to extend its reach ahead of its initial public offering which could be as soon as next year so what are they waiting for the process of being publicly very ominous if you have no principles because the public markets got a whole bunch of principles so we're not in any rush we haven't committed to a timeline or any you know if and when we go public we just know that we want to institutionalize our intentions as quickly as possible and be ready for the times
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right we're ready to go out there be well established hotel sites like booking dot com or expedia are moving into the private rental territory just as and b. and b. receives greater scrutiny from local regulators worldwide they're accused of pushing up local property prices whether the new plus program will be a plus for b. b. and. in the face of mounting opposition remains to be seen. as part of an agreement with the island nations creditors for the first time the seychelles or stagnate at the sea surrounding its islands as protected waters and is receiving debt relief in return. for many this indian ocean island is what paradise looks like the remote atoll is home to the world's largest population of giant tortoises and is the spawning grind for a number of rare species. the seychelles government has now
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signed a bill restricting nearly all human activity in the waters around. it's the result of a unique deal with its predecessors debt relief in exchange for protecting biodiversity the ambitious plan places thirty percent of the country's territorial waters under protection putting it way ahead of the global marine protected area target of ten percent by twenty twenty four years to put this together but what happened was is over that time period the seychelles was a poster child of what you do to come out of a debt crisis they were running positive budget surpluses they successfully footed the currency that rooster duce their debt to g.d.p. ratio in the late two thousand as the seychelles was one of the world's most indebted countries according to the world bank sovereign debt peaked at nearly one billion us dollars today the finance ministry says it stands at less than half of. many fishermen except that the long term effects of the marine special plan will benefit the economy on their industry yet some fear the short term impact will be
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crippling to their livelihoods. and right from the says shells back to berlin thank you so much for watching.
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a sense is like the unions i'll bet you can visit what you call a comeback for. mining industry for the one i work at the end of a. beijing china. in the capital of the world's most populous country the hustle and bustle.


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