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tv   Business - News  Deutsche Welle  September 28, 2018 7:02am-7:16am CEST

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could this be the end of the road for. korea the u.s. securities and exchange commission has accused the tesla c.e.o. of fraud he says musk. president visits germany at a tricky political time as well as economic but german turkish business relations are on track. and hold on to last year's. extreme drought in australia that leads to a shortage of wool pushing up prices to break. let's do business u.s. regulators have accused tesla c.e.o. elon musk of securities fraud in a complaint filed in manhattan federal court the f.c.c. said musk knew or was reckless in not knowing that he was misleading investors in a series of tweets last month musk told his more than twenty two million twitter followers that he would take tesla private at four hundred twenty dollars a share and that funding had been secured tesla shares surged. when the plans
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fizzled musk is one of the highest profile executives accused by the f.c.c. it also seeks to bar him from running public companies which would include is more from. the charges a big blow. to the company and at this point of thought. shareholders will be very difficult. to keep his job as chief executive for a lot of investors on wall street have been pushing for months there. should step aside and that could be the final moment that this has to happen even if a final decision has not been made at this point theoretically. could all thought. of a certain possibility and then we don't even have to discuss if you can remain as c.e.o. of. the company we saw
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a massive reaction in the after hours trading on wall street. some point down by. ten per cent and the pressure and the heat is certainly on not just. in general. the world trade organization is downgrading its global trade forecast for the next two years that's thanks in part to simmering trade conflicts around the globe the w t o expects world trade to expand by three point nine percent this year and around three point seven percent next year that's down half a percent from previous forecasts in a statement that cited free trade measures as prompting the move evidently a critique of u.s. president donald trump's trade policies. a currency crisis political tension the perfect backdrop for a state visit turkish president. for two days diplomatic relations may be strained but business ties are on track. they raced through the countryside it more than
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three hundred kilometers an hour high speed trains made by demons are already running on tracks in turkey siemens manager michel cup is hoping for more orders according to media reports and current wants german support in setting up a high speed rail network where thirty five billion euros so far no decision has been made that the latest siemens the laro model could play a part. in twenty thirteen we got an order to deliver seven high speed trains to do three hundred kilometers an hour between uncorrupt kanya and discussion here. in april of this year we got a follow up order for ten more of these drains and they're under construction now what do you think is it hits a ball. it's not only big german corporations that have business ties to turkey so do medium sized companies entrepreneur blent was in there from braman installs
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business software for instance for parking garage operators he employs one hundred twenty i.t. specialists in braman and istanbul and. you apart from that we do a lot here in software development and software selection process is. we have various projects with which we ultimately help the company make its process is more efficient and save money. isn't there moved with his family to bring in when he was a child he studied economics and worked for consulting companies before setting up his own business. he comes from a humble background his father was a welder in a shipyard his mother was a housewife. and i consider myself a northern german that's how i behave in my business dealings that's how i was socialized here with descriptions like migrant child of immigrants only serve to marginalize and i reject them for myself and my children. among his customers are
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high tech companies across germany they include braman based space company oh-h. b. which builds satellites it's just opened up an office and i'm kyra. was in there says the economic crisis in turkey is a good opportunity for investment. you can invest and cyclically now the lira has had a drastic decline the euro is strong so you can invest a lot in turkey for less money and that's what i'd recommend now those are two of them. and despite the current strains political relations german and turkish companies share many interests. because they don't judge and joins us from our parliamentary stream goes first of all a political question for you everyone has come to berlin with a wish list wanting support for his government's fight against kurdish militants in the golan movement which he blames for a failed coup considering what's gone down in turkey over the past couple years and
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it wants consolidation of power what sort of position is he in to be making demands . quite frankly you know politicians can and do demand a lot of things but the reality is that turkey is still in the middle of a very difficult economic situation and the political political relations to the us are still difficult there is no alternative economic partner besides europe and germany in particular and the president in turkey has does negligence of taking the i.m.f. on board in to tackle the problem so germany is historically has been the most important investor and trading partner and the reason why the president is here obviously is to find support and to improve political relations bought in the mid term also to have an improvement also in economic relations but neither country is keen on any sort of economic aid even though business ties are quite strong between the two nations where does that leave and how reliant is it on europe now
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this is indeed a very difficult situation the political developments in turkey are from do european perspective difficult but there are up options i know it's a kind of a conditionality which can be imposed and there is some rational support one can there infrastructure investments which are going to improve the economic conditions in turkey it is important to reduce for example turkey's dependency on an orgy which is a major driving force for inflation and here this is rational to do it to support turkey in the short term even with direct financial at the german companies that would conduct this sort of investment in turkey because it is stabilizing the economy that is an interest oriented policy how important germany on the other hand . well economically the market is not that important but there are more political aspects and certificate aspects just to mention the migration deal we
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have the so-called migration deal between europe and turkey and if they call me destabilize this further this will obviously create problems in turkey also potentially increasing migration again to europe and then we have it live this potential military conflict in the north of syria where turkey has been able to gain time but a weaker economy in turkey may change the situation finally there is also the financial dependency a lot of southern european banks are creditors of the turkish. economy if turkey is going to collapse in its economy this will more to have big problems for the european economy as such but for the banks in this southern countries of the european union and with italy just for example is already in a difficult situation and this can trigger already a heated debate which is already heated in europe can can be triggered because of
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turkey economists at a young age thanks for the analysis winter is coming here in europe temperatures are dropping after a scorching summer time to get out your winter woolies what does a drought in a straight year have to do with the cost of your winter wardrobe quite a lot as it turns out. hungry lambs as a dried stricken farm in the eastern state of new south wales. astray produces ninety percent of the world's merino wool exports. but after one of the driest seasons on record many sheep farmers are struggling to keep their flocks alive what at the moment we're about thirty eight pails at a forty thousand balls less this form of the what we had last year so that's really a fool so we've lost so far already for all this trail. to drop in
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production comes at a time when global demand for not full fibers is surging up this will auction in fifine the bids are coming in fast and strong what did you want to do you know well it's certainly a great spot in demand at the moment and i guess we have to go back to the consumer who's now walking into the shop and want and asking for i guess looking for a natural fabius and the the fashion for them i would guess is certainly has a lot of wool incorporating it with farmers losing sheep to drives the astray and government is predicting well production to drop four per cent this financial year meaning shoppers should expect to fork out more for their woolly winter where. i'm going to brave the cold and head on home nice thing business with you i'll see you again very soon here on the dealt with here.
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the moment.
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