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tv   Business - News  Deutsche Welle  December 13, 2018 6:15pm-6:31pm CET

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you know i'll get a small laugh out for you in that business update in just a moment i'll be back to talk with the rest of the day so welcome to news in the meantime of course as always the web site that's the dolphin dot com i'm going to. leave. your hand. up but you know this is you know five minutes four
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minutes young. boys has an hour and a beauty. pageant all. the feats in the pantheon of the great tennis certainly he's one for the ages and her new. book the fuck. is called my tender for the ages starts december twenty second on g.w. . investors in europe are kissing the cheap money goodbye best the e.c.b. puts an end to its quantitative easing program we'll tell you why banks are applauding the decision. also on the program tit for tat spat the conflict over arrests that executives between canada and china escalates. as
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a second canadian citizen appears to be under custody. and they can't find a great deal or job so they go from state to state in their trailers and mobile homes or see how work chapters are becoming an alternative for companies offering seasonal jobs across the u.s. . it's time for business on the w m how you got us welcome to the program the european central bank just announced the end of its massive and controversial bond buying program known as quantitative easing by the end of the summer the e.c.b. believes the eurozone economy no longer needs central banks supports to grow in total the e.c.b. has bought government bonds and corporate bonds worth two point six trillion euros since the program started back in march twenty fifth back then the entity invested to strengthen weak eurozone economies suffering with deflation critics say the program let government simply minimize borrowing costs instead of making reforms for their countries. our financial correspondent conduct who is in is in frankfurt
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where the e.c.b. is headquarter and has been following the decision for us comes out hi it's good to see you again well the reactions we saw in the main indices actually show us there was no surprise there were barely noticeable. that's true but the e.c.b. had a couple of things to say which were new and which were quite interesting for the markets for example the e.c.b. said and i quote this because it sounds a little bit complicated it will continue reinvesting in full the principal payments from maturing securities it purchased under the asset purchase program for an extended period of time and past the date when it starts raising the key e.c.b. interest rates which means at least until the summer of twenty nine excuse me twenty nineteen of course next summer and this means yes the e.c. b. is ending its money printing at the end of this month it's not going to print fresh
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money and buy bonds for this money but it will continue to buy bonds whenever some of the bonds that it's holding expire the money that it gets from you know this expiration will be reinvested in bonds and this means that of course the e.c.b. is making this phasing out of its quantitative easing program very very slow critics of this policy many of them here in germany will say like that like this the e.c.b. is not shrinking fast enough its huge balance sheet and we know that not only people here in germany but banks all over the eurozone or at least some of them struggled with this monetary policy we saw some of their shares up even before the announcement what does this mean for euro zone bags. well for the banks this announcement and this ongoing monetary policy is a bit of
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a double edged sword of course the banks do profit also from lower interest rates because it keeps the economy going something the banks need but especially you know old school european banks that rely heavily on high interest rates with their traditional business models they want to see. foster ending off that monetary policy they want to see higher interest rates rather sooner than later and that's why of course especially here in germany the criticism of the e.c.b. and his monetary policy will probably persist it's the slow and of american who isn't following it for us thank you very much is it a tit for tat chinese authorities are now investigating another businessman from canada michael spade or is the second canadian citizen to get in trouble with chinese authorities after beijing detained former diplomat michael kors break on monday the two cases appear to be retaliation for the detention of main one so
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a high level chinese executive and c.f.o. also maker while away by canada but a request from the united states the whereabouts of mr speight remain unclear. this is businessman michael spade and this is what he is known for bringing people together in this case foreign athletes to pyongyang to play the north korean hockey team he is a canadian businessmen with a cultural exchange company based in the northern chinese city of dying dolls. he is also the man behind the unusual friendship between u.s. basketball star dennis rodman and north korean leader kim jong un spader is possibly one of the best connected westerners in secretive north korea and now nobody knows exactly where he is before beijing confirmed it was investigating space for kenner's foreign minister confirm something was wrong. but we are aware. of a canadian. who has gone in touch with us. because
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he was being asked questions by chinese authorities. spader also uses his base in china to promote investment in north korea but china says he is now a security risk. corporate news now and the board of french carmaker renault says it is keeping karl's go on as c.e.o. after an internal review of his pay package conformed with french law dolan has been in detention in japan after his arrest last month on charges of financial misconduct and under reporting his pay as head of nissan japanese authorities say he underwood put his income by some forty four million dollars between twenty ten twenty fifty. and the european commission will not be allowed to raise nitrogen oxide limits for cars it had made
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a rule change to introduce higher emissions limits but an e.u. court ruled against it on thursday and in favor of france belgium and spain who had complained about the planned amendment it would have doubled emissions limits to one hundred sixty eight milligrams per kilometer decision means bad news for certain consumers and cowmen factors may have already made decisions based on new higher emissions them the court is giving the commission a year to make the necessary changes to go to avoid legal uncertainty. before we go when you picture campers and america you might think of hot summer road trip surrounded by romantic scenes from the wild west but in reality it's mainly european tourists who get to fulfill the sort of dream many americans traveling around and caravans do it because they can't find a permanent home or because they're more mobile and therefore more likely to find work for some traveling from seasonal job to seasonal job has become
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a way of life. it's just before six am but the lights were already on inside the mobile homes and trailers people sleeping here aren't doing it for fun on this cold winter morning chip and penny are about to start the early shift they're known as work campers helping to make the amazon magic happen at christmas for three months they work at the nearby distribution center ten hours a day six days a week. long hard day of walking and picking i'm shopping for all those beautiful amazon shoppers. we basically were going to just run around and pick up goodson and get it out hopefully today we're going to pick one between between all of us who will have about one hundred thousand units to pick. amazon recruits work campers for the busy season they collect orders in this gigantic warehouse walking up to twenty four kilometers every shift or the pack the boxes
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a backbreaking job but the campsite is full amazon pays the campers fifteen dollars an hour double the minimum wage in tennessee their campsite fees and electricity are paid the birth family with five children live in this caravan dad richard has taken the kids out to play because their mom was asleep after a night shift for the children the lifestyle can be fun. because we get results of the first time in indiana ok is there anything you miss earning yet or knife that you still feel well now they're home schooled by their parents between shifts richard lost eighteen kilograms during his first amazon season but it's worth the money he says because they can use it to travel he wants to show his kids the country and how to get by unless. you're not looking at all
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that's nice to have you're looking at how we're because and keep in the case of the children like with toys when they get new toys they usually have to gift their old toys away. chip and penny enjoy a well earned marker rita after a long shift. they want to spend christmas under the florida sun and they're counting down the work days now that we're in shape it's all up here and your mind turns to mush today you start singing songs to yourself i start daydreaming about what i'm going to do like i was saying earlier s l of suntan lotion i can't wait for the smallest suntan lotion saturdays their only day off and they use the time to get some groceries like many others chip first joined the camper life through necessity he lost his house in a divorce as a work camp or he says his life is both cheaper and more independent. fi said you
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know i want to go from the motor home to the old folks' home and i said that's pretty good perspective. i have no desire to stay in one place for more than four or five months we look at it like we take life in seasons and chip is already looking for summer jobs for himself and penny through the work campers network they hope to avoid amazon's christmas season next year but they have no idea what will come along. and that's all for this edition of the business thank you for joining us stephen will be bringing you the latest headlines in the upcoming shows next time to carry you back.
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into. time. for. more than three go international talk show for journalists to discuss the topic. joining his conservative party has a new leader on the great crime khandala approaching a day as chancellor angela merkel she could wind up succeeding her mentor as head of the government so what is the leadership change mean for germany and the result
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of joining us on quadriga. form. we may come home but we want tons of africa to and much of we ought to settle some of this and. want to shape the continent's future. are you enjoying african youngsters as they share their stories their dreams and their challenges. to seventy seven percent of the platform for africa charge. natural riches precious resources or something and a rewarding investment farmland that has been called the ethiopians during go into
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a strong contender conservative corporate lawyer free press maps but despite being a gloom ackles favorite she faces the tough task of.


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