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tv   Business  Deutsche Welle  May 22, 2019 4:45pm-5:01pm CEST

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and batten down the hatches the boss of weiwei the world to get ready for a protracted battle with washington. it's the business one of the most recognizable faces of corporate germany. is vacating the driver's seat a diner 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 grateful goodbye from shareholders after 13 years at the helm. we cannot and will not remain satisfied with the current levels of profitability officially i can assure you the time the team is drawing even more motivation to work with full energy towards our annual targets of 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
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4 decades at a time as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this 5 playing group has 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 a long time a lot like him a lot. of fresh winnings from the new boss is a strategy that's been announced here will be implemented effectively the share price will go up again because. that future strategy will be led by time is 1st known german c.e.o. . or general to a long was at that and it was general meeting of berlin today last hot. has the
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reaction force from the frankfurt stock exchange laws' wait 1st for a 2nd i just want to us ginnell a couple questions 1st jamil the dima boss bowed out calling for calm backs i read does that mean that he hasn't left the comic during the 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 at a time away or 3rd 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 still having to do clean up 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
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concepts or whatever and i guess for him that she feels the departure of such a feels like a bookend to that era so yes i'm not quite tears but sad faces well such as retirement hasn't escaped the notice of dime was competitive b.m.w. this is quite interesting it marked the occasion by going all out with this video a double playing the boss bidding farewell to stuff and gliding off into retirement in a white furch m.-w. didn't take long to dime a 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 not to those social videos social media videos but such as return. why i wouldn't look at the market reaction too much because shares for diameter are down 1.6 percent but that on a day when most of the market is down anyways so i would not necessarily put that
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right on said she here but it is interesting to see that as beloved. said she was in the corporate community is also from the perspective of shareholders it was more like is so 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 fold over the last couple of years and what we best is make of his success. yes a pretty confident they are of course killin us has been with time for a long time almost 25 years he's 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 like john ellis said to the concept 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
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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 call on us 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 independent spin off so that is 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 and i think that's what they're hoping to get out of it and if that helps some of the growth in the physical a clever move to 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
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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 frankfurt. there are some other stories making business news a slew of chinese airlines is seeking compensation from boeing for the grounding of a 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. at a desk and nike say trump's tariffs will shoot the industry in the foot they've joined dozens of american shoemaker is calling on the president to exempt footwear otherwise they say it would be catastrophic for consumers and the economy last year the u.s. imported over $11000000000.00 worth of footwear from china. and it's not just
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footwear companies that are worried american bike sell is 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 bicycle 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 stock runs low we'll have to see where prices are at maybe may 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
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initial set of targets u.s. bike maker canton and state was moving production outside of china citing $20000000.00 in increased annual costs as 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 voices the firm is ready for a protracted battle with the united states speaking to chinese state media friends shunk 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
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recently by the president on this ban will it actually change anything 1st of all. well ben most people will agree that no it's 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 out who says that he already has contingency plans in place. talking about the 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. exactly look not a met 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
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stockpiling on other foreign parts as well as we speak in preparation off such a ben however analysts are saying that 3 months isn't a lot of time for high silicon or even homing o.-s. 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 for the u.s. supply is a 4 way is of course the inventor e so this sitting on a lot of stock that's meant for export and they have 90 days to clear it but beyond that 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
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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 base is auctioning off the very 1st sports car built by porsche a type $64.00 belong to found a foot and porsche it was built for a race between lin and rome that never actually took place because of the operator the 2nd mobile goes on the hammer in california in august and could go for $15000000.00 cad read that. i think i can afford that. looks nice the nice thing business.
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her game vastly european injury. is meant to be a community of freedom without bullets. it's on the consonants discontents is on the rise. killer and also what's at the next level. made in germany 30 minutes w. . first day of school in the jungle. first clueless of this.
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event doris granger moment arrives to. join you rang a tank on her journey back to freedom. in our interactive documentary. the world to bring a tame returns home on t w dot com tang's. europe's a big idea but what's become of it and what will it look like tomorrow. a w gets ready for an in-depth look at the european elections asking the questions that matter what are european voters' hopes for the new parliament what challenges lie ahead from way too long the closer since the people in power have gotten away with not doing anything to fight the kind of crisis now moving european election to the rest of the. expert discussions of these reports voters
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1st hand seems d.w.m. as it all. the european elections may 26th on g.w. . this is live from berlin or theresa may search to drop plans for a 4 for a photo. presented to a 24 hours ago as a new deal this despite the prime minister holding out the possibility of a 2nd. also on the program violence some fatalities in indonesia as protesters refuse to accept the outcome of the presidential election
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a flare some fireworks continue into the night after supporters of the unsuccessful consulate clashed with security forces injured at least 6 of the.


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