tv Business - News Deutsche Welle November 8, 2018 6:15pm-6:31pm CET
grappling with the diesel gate fallout stephen will be here to take a look at their latest cleanup efforts in our business block. that's coming right out enough to you again at the top of the hour. history shows the story of the first world war told from different perspectives by peter craig from the eastern european perspective can become for example script from the perspective to keep from the arab world. d.w. dot com slash w w one. i'm not laughing at the germans because sometimes i am
but most have nothing with the bitch and i think deep into the german culture. you don't seem to think this drama. goes it's all that who know i'm rachel join me i mean the kevin bungee jumping post. i think. only days after thousands of german car owners launched a class action suit demanding a full refund for their polluting diesels the government and the car industry in germany attempt to close ranks reaching a cash figure for hardware retrofits and trade in incentives for vehicles that could soon be banned from city streets. siemens c.e.o. job kayser praises saudi arabia's vision of a high tech future but after the killing of a saudi journalist he says business as usual is no longer an option. and cannabis
shares get a high as about marijuana enemy jeff sessions is forced out as u.s. attorney general. i'm stephen beardsley thanks for joining us. german carmakers have agreed to spend up to three thousand euros on measures of their own choosing to get older dirtier diesel cars off the road and that's according to the german transport minister under. the three thousand figure is expected to cover hardware retrofits which volkswagen and di miller say they're willing to perform rival b.m.w. says it won't do retrofits but it will offer up to three thousand euros on trade in incentives the news comes a week after v.w. owners fought a class action lawsuit seeking full value for their diesels now here to offer us more insight on this news is simon young a political correspondent for g.w. here in berlin simon what he tell us so far about this deal what do we know what stephen as you say of the three big call make is it seems that folks vagana and
diamond have said they are willing to cover most of the estimated three thousand euro costs that it would be to retrofit these older days of vehicle diesel vehicles we would cleaner emissions equipment b.m.w. less cane they say that they will provide money for. the customers to upgrade their vehicles but some people have criticized that as a sort of. plan to drive b.m.w. sales but all three companies are saying that they are going to do whatever it takes to keep germans on the roads and these three thousand year old number does seem to be an increase from what was previously being offered by the call mike is so in that sense this deal today is a small victory perhaps for transport minister. simon there's been a sense that these carmakers have been dragging their feet even getting this
agreement has taken a lot of time can you explain how much political pressure or how much pressure in general is on these car makers. yeah the press sherry's is massive and it's been growing and indeed class action lawsuits have just been allowed for the first time in germany from the beginning of november and as soon as it was possible to do so the first can seem a group foiled the first such seeds against folks bargained for and that could lead to you know up to two million folks who are going to own is ultimately joining that seat so it's a huge sea change in the kind of legal context that the car makers are facing so you know there's a lot of concerns from them there i think also they're looking at these other court rulings saying that you know some cities like cologne and elsewhere may be able to or may have to introduce driving bans and tell the tell the motorists to keep their
vehicles at home from as soon as next year and that's really concentrating minds as well. simon understand at this meeting there was representatives from dimer were there but not from v.w. and b.m.w. that's a thing about sort of how controversial how sort of i guess sort of fought over this this whole dream it is yeah i suppose it shows the companies are still a little bit skeptical about what the politicians might seek to pressure them to do such a. way as they have but then he's stepping down in a few months i believe the other companies sent you know senior officials but you might question actually whether this deal set in stone if the top people weren't on board seven young r.t.w. political correspondent thank you simon and staying in germany industrial powerhouse siemens posted its fourth quarter figures on thursday the maker of industrial action onyx medical equipment trains and power plants does business
everywhere and that makes it especially vulnerable to geopolitical risks not surprisingly the past quarter has been a mixed bag. siemens is no longer profiting from its power plant division which has now started to lose money thousands of jobs have been slashed as the company's power and gas division is restructured itself an expensive undertaking siemens and now says profits for the last quarter slumped forty six percent our own gas is fighting the power and gas market is very challenging there are structural overcapacity and aggressive competition which creates a lot of pricing pressure especially for the big gas turbines. at the divisions performed much better at around eighty three billion euros sales this fiscal year were slightly up on last year net profit also increased despite the crisis in the power and gas unit siemens says it expects the upward trend to continue.
now we asked seamon c.e.o. joe kayser earlier today about one particular geopolitical risk saudi arabia and whether his decision to pull out of a saudi investor conference cost his firm a twenty billion dollars power plant deal in the kingdom. the fact is that we did not sign a significant deal which was worth north of ten deep illian that's true but obviously you know things go as taiko and i've always made it clear you had a very elaborate partner competent partner of the kingdom of saudi arabia you have more than thirty million people mostly young people in the kingdom there has been a lot of free forms which have been initiated so i think we need to look at all factors the things which really really have been to hell in the kim going to be shunted to thirty is
a very very promising. mission and such a concept going forward so there is a lot of cool things for there also have been talk things and i mean that's face it with the way what we have seen and heard about what happened in turkey is has not some secrets has moved on into ordinary course of business there's got to be transparency there's gotta be trust is this is what the what the kingdom has promised to do it will see how it goes over to asia now where chinese imports and exports are booming that's despite a drawn out trade conflict with the united states official figures suggest exports last month were up nearly sixteen percent over last year and imports jumped even higher the u.s. has imposed tariffs on half of all chinese goods but this is been offset by decline in the un which offsets the tariffs demand for chinese products remains high and its trade surplus continues to grow. samsung gave
a first glimpse of its new line of foldable smartphones the developers conference in san francisco and it urged programmers to start writing apps for the new product line the company didn't want to give too much away however even dimming the lights to disguise certain design elements when unfolded the phone resembles a seven point three inch tablet now samsung is competing with brands like chua way to present such a device first ever both were upstaged a little week ago when a little known startup royale unveiled a similar foldable phone electric car maker tesla says robin den home or will replace elon musk as board chair then home is currently chief financial officer at australian telecoms operator telstra she's been on tesla's board since two thousand and fourteen musk had to give up a position more than a month ago as part of a settlement with u.s. regulators after the securities and exchange commission said his misleading comments about taking the company public constituted fraud was agreed to vacate the
board chair and pay a twenty million dollars fine to settle the case. cannabis stocks in the u.s. surged on the news that attorney general jeff sessions had stepped down he was a major photo of marijuana legalization and aim to roll back legislation allowing states to determine cannabis policy cannabis companies got an extra boost as the state of michigan voted to legalize regulate recreational pot which was on the state's midterm ballot. here in michigan and it's been legal to buy marijuana for medical purposes since two thousand and eight as a painkiller for example but only for seriously and how many patients so it's not to pick market but that's about to change on tuesday people voted to every out twenty one can buy and use marijuana for recreational use they still want to choice well prepared for the day with plenty of phones on offer. michigan is the first state in the midwest to legalize recreational marijuana including
michigan people can buy the drug in ten states and in the district of columbia marijuana was banned eighty years ago by the federal government overturning prohibition is a hot button topic across the entire country. i'm excited that people will have an opportunity to see a regulated market and all the opportunities that come with that and history because it's now it's a legitimate industry. an industry able to serve millions of potential new customers in michigan coming to stocks rallied off to the vote the news that attorney general jeff sessions resigned kind of his producer till re stocks gained thirty five percent on wednesday shares of comically growth and the recount of this were up ten percent. reports of the death of newspapers may be greatly exaggerated at least at news corp one of the world's biggest media groups its profit jump by almost fifty percent to one hundred twenty eight million dollars in the last
quarter news corp owns the wall street journal and the new york post in the us the times in the sun in britain and many other papers digital subscribers now make up more than half of the total subscriber base news corp said media companies have been steadily moving towards digital subscriptions to generate revenue as print circulation declines. that's it for us we appreciate you keeping up with us you can find out more online dot com slash business i'm stephen beard thanks for joining us .
quadriga international talk show for journalists discuss the topic of the week both republicans and democrats say they won the midterm who's right and what lies ahead for texas raid lock and subpoena i want to allies and enemies that. those questions straight ahead on quadriga. quadriga next on d w.
you can tell a lot about a society by its garbage. the futurist is for the rich but for many people go first there from each other circle africa is among the most unequal regions in the world. could be lunch for today just like that. our reporters travel to nairobi and new york and meet people who know the true value of garbage. it has created a thriving parallel economy that's been completely ignored by the financial markets but what does all this mean for economic inequality around the world you got to study class was the response to that statement should be yes we are starting class want here because with time. and disrupt an economy.
the rich the poor and the truck an exclusive report starts november seventeenth g w. a low and welcome to quadriga w.'s international talk show coming to you from burlesque i'm brian thomas great to have you with us when the counting was over it was spin time in washington with both republicans and democrats saying they were the victors as they plot the course towards the presidential election in two years so who won the midterms jubilant democrats celebrating their new control of the house with full powers now to subpoena investigate.