tv Business Deutsche Welle May 22, 2019 3:45pm-4:00pm CEST
one of the most recognizable faces of corporate germany. is vacating the driver's seat a dyna a quirky chief executive is credited with saving the maker of a sadie's but he leaves his successor to deal with the tricky transition to electric vehicles and digital technology. a great crew goodbye from shareholders after 13 years at the helm. we cannot and will not remain satisfied with the current levels of profitability efficiently i can assure you the time the team is drawing even more motivation to work with full energy towards our annual targets. the message will be welcome following years in which share prices have been rocky profits slumped in 2018 after several good years teachers actually spent more than 4 decades at a time line as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this trifling christmas there's only one example that smalling
for better performance and handling credited with helping diamond to recover when the chrysler takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good ali it's a shame they're like him a lot like him a lot. of fresh winds from the new strategy that's been announced here will be implemented effectively share price will go up again because. that future strategy will be led by time is 1st known german c.e.o. . us. or general de long was at that and it was general meeting of berlin today last how has the reaction force from the frankfurt stock exchange lars wait 1st for a 2nd i just want to ask jenelle a couple questions 1st chanelle the time the boss bowed out calling. com backs i
read does that mean that he hasn't left the comic during the church he's not leaving it in the best shape that it's ever been and not even within his tenure we did see that profit slump in 2018 and it's not coming out of time aware there are making this move to invest a lot of really expensive projects like trying to go carbon neutral by 2039 now that's not going to be free it's also having to do cleanup after the emissions cheating scandal and those are just the internal factors you also have external things like global trade uncertainty weakening in its most important market china as a result of this you see any crying shareholders today you know this fight all those downsides that i just mentioned they are genuinely sad to see him go i was even talking to one shareholder who sort of bemoaned the loss of the good old days where car makers were about building cars and not trying to build new mobility concepts or whatever and i guess for him is that she feels the departure of such a feels like a bookend to that era so you have some not quite tears but sad faces well such as
retirement hasn't escaped the notice of diamonds competitive b.m.w. this is quite interesting it marked the occasion by going all out with these video a double playing the boss bidding farewell to stuff and gliding off into retirement in a wait for it m.w. didn't take long to die it was social media team to respond though they tweeted we guess our boss would rather really rely on real power for his retirement right that's quite funny for a german judge very good. at the stock exchange what's the market reaction lots of those social videos social media videos but served such as return. why i would look at the market reaction too much because shares for or are down 1.6 percent but that on a day where most of the market is down anyways so i would not necessarily put that right on said she here but it is interesting to see that as beloved c.e.o. said she was in the corporate community is also from the perspective of
shareholders it was more like a soul so kind of thing mixed feelings there because within the car business if you look at the competitors dimer shares actually underperformed those of let's say b.m.w. and volkswagen over the last couple of years and what we best is make of his success . yes a pretty confident they're of course then you as has been with time off for a long time almost 25 years has been working directly with the church over the last years as designated successor and so there is a lot of trust i think but of course everybody is very much aware of the fact leggo ginnell said to the concepts of changing for the business and for a dime or 2 this is not only about building cars anymore we're looking at a whole new industry where we're talking about mobility concepts the sharing economy technologies like autonomous driving so it is absolutely clear that the new guy has his work cut out for him and we will have to share all of his. what is the
road ahead going to bring to record well 1st is going to be busy with this massive restructure it's the biggest one in the company's 130 year history so that's going to combine the car than businesses and the bus and truck business into 2 independents then also the amount of task involving $800.00 subsidiaries in 60 countries 130000 employees could be transferred that's just the plan for this year is that a clever move well it's going to be a move that allows them to be able to cut costs at least that's what they're hoping to get out of it and if that helps some of the local than the physical a clever move cut costs even though the synergies won't be there anymore indeed it but you see they have to be able to do that and they have to be able to look outside for more development partnerships and they have to move away from just traditionally from building traditional cars the whole car industry has to do anyway exactly you know thank you very much for coming in a lot of the forests in right foot. there are some other stories making business
news a slew of chinese airlines is seeking compensation from boeing for the grounding of this 737 max. hundreds of passengers died in 2 crashes involving the jet has been grounded since made much. of a trade war is taking its toll on japan exports fell for the 5th month in april sales of chip making equipment to china have slumped but business sentiment is up along with machinery orders. added us up and nike say trumps tariffs will shoot the industry in the foot they've joined dozens of american shoemaker is calling on the president through exempt footwear otherwise they say it would be catastrophic for consumers and the economy lost to the u.s. importer of the $11000000000.00 worth of footwear from china. and it's not just footwear companies that are worried american bike sellers are also feeling jittery about the prospect of a fresh set of tariffs on chinese goods. it's no surprise there on average u.s.
spike sellers get 90 percent of their imports from china. qian serve runs a small 5 tickle shop in milwaukee he estimates the additional tariff will cost his company around 200000 dollars next year. i mean if we're a small company of 12 people and we're considering scaling back i can imagine companies with thousands of people i mean they're having the same conversations and it's significant other businesses have already stocked up on additional merchandise in anticipation of the increased tariffs. when that stuff runs low we'll have to see where prices are at so that made me make a difference as far as what models we continue with or decide to change some bigger chains are taking more decisive action back in february in response to trump's initial set of targets u.s. bike maker canton once it was moving production outside of china citing $20000000.00 in increased annual costs of the reason but it didn't move those jobs
to america instead its bikes are now being made in cambodia. most companies are cutting ties with embattled chinese tech giant why a british based chip design is the latest it's instructed stuff to hold all active contracts and any pending engagements to comply with u.s. regulations the founder of what he says the firm is ready for a protracted battle with the united states speaking to chinese state media friends showing faces the company could get stronger through a long lasting fight washington is wired one way could enable beijing to spy on the west banning trade with the company. and let's take you over to singapore for our asia correspondent andrea hang address the 90 day reprieve that was announced just recently by the president on this ban will it actually change anything 1st of all.
well ben most people will agree that no it is not going to change much and it depends on how you look at it there are 2 ways of looking at this opinion one from the perspective of the operators 3 months really isn't a lot of time to make any alternative arrangements and on the other hand we're looking at 3 months being in significant according to the while we found a who says that he already has contingency plans in place. talking about the big plans it has its own operating system hong maying but what else does it have up its sleeve because it sounds like it's going to have to move fast exactly look not a med not many people know this but what we actually has its own chip making division and it's called high silicon so there's been making in designing chips and stockpiling on other foreign parts as well as we speak in preparation of such a ben however analysts are saying that 3 months isn't
a lot of time for high silicon or even hong me or else to accommodate any restructure in the supply chain for while we what about looking from the other side how is this going to affect why ways american partners including google of course of course the biggest concern of for the u.s. supply is a 4 way is of course the inventor e so they're sitting on a lot of stock that's meant for export and they have 90 days to clear it but beyond that it's european governments are also feeling the pinch this is this ban from trump is a bit of a nudge and pressure to restrict or ben outright anything to do with networks in their respective countries our asia business correspondent in singapore and dreyer thank you very much. and here's something for diehard porsche fans that includes me it's a bit rusty in places but southern bays is auctioning off the very 1st sports car
built by porsche a type $64.00 belong to found a foot porsche it was built for race between lin and rome that never actually took place because of the operator the 2nd mobile goes under the hammer in california in august and could go for $15000000.00 cad read that. i don't think i can afford that. looks nice a nice thing because it's fake. gameplay
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