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tv   Business - News  Deutsche Welle  June 19, 2018 3:02am-3:15am CEST

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a bomb shell into diesel gate saga already seen europe are stunned or has been detained over a fraud investigation parent company and confirmed the arrest is the latest development in ongoing admissions cheating scandal. google is set to invest five hundred fifty million dollars in chinese online sales trying to change the doc called making it the latest u.s. company to dive into asia's growing. you and australia have launched that was she ations aimed at reaching a free trade deal this comes amid don't trumps the decision to impose tariffs on many of these countries trading partners including the e.u. . and welcome to your business news. in connection to
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these of gate scandal german luxury carmaker he is such a receive an interim boss according to reports sales director on short is likely to assume the position. supervisory board met in wolfsburg to confirm this decision german authorities arrested this morning a spark of an investigation into emissions task cheating prosecutors said he was being held to fears he could temper of it evidence is more. the c.e.o. maintained he knew nothing about the diesel scandal at a shareholders meeting last month everything happened very quickly after that prosecutors searched his home last week then monday's arrest heroes that there have been hints that the defendant could try to influence evidence for example the evidence of other defendants all witnesses. telling. of knowing about the emissions cheating in europe when the scandal broke in the
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u.s. but unlike in america he did not order a halt to production thousands of audi's with software issues have since made it onto the road. douglas has been at the helm of audi since two thousand and seven within the company there's been criticism of his handling of diesel gate audi engines fitted with the emissions cheating software have ended up in other cars in the v.w. family like poorish. which will means that once again germany's faux wagon is in damage control the world's biggest carmaker is losing trust among investors its own workers and motorists. sense that if someone is found guilty of having done the wrong thing then they have to answer for that. it's not only v.w. and ality but all of germany in a bad line. stadler is the highest level executive at
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volkswagen to have been arrested since the scandal erupted but he may not be the last. this is just the latest twist in a scandal that first engulfed the german car industry for years ago says that millions of cars have been recalled billions of dollars spent out in fines and several managers have lost their jobs let's take a look at the most dramatic bumps in the wrote so far twenty fifteen folks like an admitted installing a myth. cheating so fair in over eleven million cars c.e.o. martin into korn you can see him here on the left was replaced by the man here on the ride to the head of porsche but yes miller no the following here facing pressure from lawsuits the col make up paid out almost fifteen million dollars to cover buybacks and five in the united states finally last year has began to roll and here you see on the left this is james liang an engineer who was sentenced
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to forty eight months in prison for helping to design cheats all three are this man here on the right whose name is a liver schmidt he's a manager he got seven years in jail for fraud around the same time other carmakers including already porsche and dying are came under scrutiny that this year just three years into the job. mathias miller on the left and harbor days the man on the right was given the job but no official reason was given and that all the boss superstars are now in custody in germany one thing is clear it's far from the end of the road for these ok. and onto a different story google is set to invest five hundred fifty million dollars in chinese. call making it the latest u.s. company to dive into asia's growing e-commerce pool to deal with c.j.d. dot com products displaced and google's shopping services and could help the
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chinese company spread beyond solving for asia the region is rapidly becoming a battleground for key industry players hoping to cash in on asia's record the growing middle class. all right let's bring in school to here standing by for us in new york was much more on this massive investments welcome yes what kind of market is google topping into or getting themselves into what do they expect. first of all google tries to get a bigger bite out of the chinese market but also for a j. d. it is the shot to get deeper into the u.s. american also the european market but then if we look at recent developments online rival amazon recently has gotten deeper into the online advertising market so now google kind of strike back and try to get a better chunk out of online shopping so the stock of google by the way traded
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a good two percent to the upside and overall technology stocks did better here at the beginning of the week than the broader market and we're going to be looking at a different company here taiwanese electronics manufacturer foxconn they want to invest in the united states the other way around setting up a half quarters there in the north of the u.s. why what's behind that this setting up the headquarters into a walk in the state of wisconsin and they're also building. a panel of plants in the amount of roughly ten billion dollars in that state visit johnson actually has offered folks call on a tax incentives tax rebates in the amount of about three billion dollars for the next fifteen years and that has become a common theme so if we look at amazon for example picking their new headquarters they're also looking for
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a huge incentive to goldman sachs has done the same picking and you have quarter in new york a couple of years ago also getting billion dollar take sprague's so this is one side of the story and then on the other who knows maybe fox can also drive tries to avoid tariffs was setting up this plant and the headquarter in the state of wisconsin and was that in the united states yes thank you so much for this analysis . the european union and australia have launched negotiations aimed at reaching a free trade deal this small box of global trend towards protectionism sparked by u.s. president donald trump among others and his decision to impose tariffs on many of his country's trading partners including the european union speaking after a meeting with her australian counterpart the e.u. straight commissioner sat the talk sent a quote very hands on message what that means there is more. the european
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union and astray aren't exactly equal economic partners but when it comes to the principles of trade they should be on the same page. it's a very hands on statement that we are sending the european union and australia who have always been defenders of the international system multilateral trade the global rules the predictability that has served as well is a perfect but it does serve as well and i think together with other allies we are ready to stand up to to reform and to develop and to strengthen the system and also sending the signal that trade is a good thing. speaking of a good thing last year the e.u. industry traded more than forty seven billion dollars worth of goods the e.u. exported almost three times as much to australia as the other way around it's no surprise then that is seeking better access to the e.u. market focusing in particular on increasing exports of food and agricultural
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products the country also wants to export more services to the e.u. especially in the educational and financial sectors. will begin in earnest in brussels next month the e.u. says a free trade deal could result in a thirty seven percent increase in economic activity between the two. new markets they are in the making now officials from thirty different countries have descended on berlin for climate talks at the very inopportune time for the german government environment minister admitting on monday that oh so grand thinking germany probably fail its climate goals a major embarrassment for a government climate conference in bone the german leader to step up to its environmental responsibilities but now it seems that the nation's plans have gone awry. germany wanted to reduce its greenhouse gas emissions by forty percent by twenty twenty the country would then strive for fifty five percent by twenty thirty
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but today german environmental minister. announced that they wouldn't be reaching that target instead official estimates project that they would be closer to a thirty two percent reduction in two years' time. germany currently ranks eighth on the climate action networks list of european countries cutting emissions we didn't take the top spot france comes in fourth place while the united kingdom is also a target coming in in fourteenth the ngo said it was underwhelmed by germany's lack of willingness to act and that the nation have postponed pressing decisions. all right and that's it from me on the business team here from berlin you will find more stories online check us out on twitter add to underscore business or on facebook of course and before you go here's a real time check on the global markets at this hour thanks for watching i'll be back tomorrow same time same place.
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