tv Business Deutsche Welle August 20, 2019 4:45pm-5:01pm CEST
times company bias it's animal health units to counter it being revenues and profits. and fast new seatbelts singapore is getting ready to launch a trial of self driving buses. but come to do business asia want to get jones in berlin thanks for joining us political unrest in hong kong has prompted china to speed up its vast regional development program the greater bay area projects facing us long planned this but believes the promise of strong economic growth will ease anger at hong kong which will lose its special status in 28 years so the government wants to make hong kong a key part of a cluster of cities in the pearl river delta creating a vibrant economic area chinese president xi jinping describes the greater bay project as central to china's great national rejuvenating and hong kong is just a part of a greater plan. well let's take
a look at a this great bay area the scheme would see 12 cities in the area linked up to form an integrated economic cop including showing saying how and who own shoe the greater bay area has a population of $70000000.00 and the g.d.p. of well over one and a half trillion dollars making it a potential rival to places like san francisco new york and tokyo already a major investment hub hong kong would be the project's crown jewel the greater bay area already accounts for 12 percent of join us g.d.p. china also wants to develop a world class airport cluster in the greater bay area after its traffic is already greater than the figures for san francisco new york and tokyo combine and and then this shipping to 3 of the world's top 10 contain a ports are in that area experts see the plan. as part of china strategy to catch
up with the united states of america now for more let's bring in both can needham out he's the chief representative a german industry and commerce hong kong good to have you with us thank you for your time though obviously when you look at the shia scale off of this great a bay area project it's very very impressive. you have so many big cities now and companies competing with each other with us lee hong kong. as a german saying goes competition is good for your business and many cities would be happy to have such a interland so this is a huge opportunity for on call to be part of this great of a area concept you have described it perfectly suppose in the sauce of china comparable in economic size was russia so this is full of opportunities on call and
always not afraid of competition now of course we all know that it's not a smooth sailing these days also for hong kong and we also mention that special status which will end in 28 years from now. right now you of course representing a german business in hong kong you've been doing that for years what is your feeling what's the current mood there. yeah ok sure we are concerned here what is the development in hong kong itself into the social unrest. on this leaves the german companies and that is because they have a real different business model here in hong kong which is a regional headquarters and so it's and sourcing offices. they are not that much affected yet yes they are sensitive to say seek advice and we as a chamber we are offering these advice the companies have contingency plans but.
business life and actually as a hong kong resident i have to say also normal life as being not that much affected as the very ugly pictures might imply. and coming back to greater bay area it is the beijing government emphasizing that the one country 2 system is a key element for the success of great debate area development and everybody wants the one country 2 systems principle to be of face fully implemented as beijing says and that means we keep all our freedoms. and free flow of capital logistics free travel freedom of speech and expression and of course rule of law. that sounds actually quite optimistic good to hear that what they need unlike their chief representative at the german industry and comus in hong kong thank you so much for your time. thanks for having me. now the take over of
u.s. agricultural giant monsanto did not only cost by a billions of dollars it also led to lawsuits over the company's weed killer round which is alleged to cause concept so far germany's buyer has lost every single round of related lawsuit and stiff fines have driven the chemical company to the verge of bankruptcy now by is selling some assets to stay liquid man's best friend is trending with incomes rising worldwide the demand for animal health products is also increasing now german pharmaceutical giant by air and selling its animal health unit to u.s. based drug firm a line call for $7600000000.00 the move will create the 2nd largest company of its kind for buyer animal health is only a small part of the group's business and 20 again it brought in revenue of around one and a half 1000000000 euros it's larger units include consumer health with 5400000000
euros crop science with just over 14000000000 and pharmaceuticals with almost 17000000000 euros selling the animal health division will allow a buyer to bring in some urgently needed cash the company has had a few rough months with multibillion dollar lawsuits over the weekend or roundup and its active ingredient life was saved with phones dwindling and share prices dropping fire has recently moved to sell units not directly related to its core business of life sciences most recently it on loaded some time lotion brand coppertone as well as its dr scholl's care unit buyers planning to focus more on its traditional divisions including pharmaceuticals and consumer have. been for some market reaction now let's cross over to our financial market correspondent susan at the frankfurt stock exchange call that is this move selling all of the animal health unit going to bias problems. well if it helps at
least to solve some of the financial problems that buyer has at the end of june biased total amount of debt was nearly $40000000000.00 euros with the sale of this veteran mary drug unit with the sale of other assets that buyer has agreed on quite recently the total amount of debt will likely be below $30000000000.00 at the end of this year of course fire is collecting all this cash because it needs to prepare for the outcome of those lawsuits in the united states . if we take into consideration the huge amounts of money that the judges awarded to the plaintiffs in the 1st place of course this money would not be enough but it's likely that the total amount by it will have to be a pay will be much much less. in their reporting from the front of stock exchange thank you. and now to some of the other business stories making headlines right
the founder of china's 2 away wrenching fay has urged staff to work hard to meet sales targets as you why goes into battle mode in a memo he said the company's facing a quote life or die moment for live or die moment following and us clamp down on the company. another country is punishing the folks martin for diesel gate south korea wants almost $10000000.00 euros from the german carmaker folks long is charged with installing elicits device to cheech pollution standards the certifications for 8 models including the 2 a reg audi a 6 and porsche cayenne will be revoked. african swine fever has decimated the poor trade in china that helps some breeders to a healthy profit according to the chinese ministry of agriculture at least one 3rd of the market has been wiped out prices for hogs have now reached $200.00 an all time high. high and their sets to rise further demand goes up after the summer
months. u.s. president donald trump has called on the federal reserve to cut its key interest rates by the least a full percentage point over a fairly short period of time he said that would make the u.s. economy even better trump also attacked fed chairman john powell saying the economy was strong despite his horrendous lack of mission. and i would you take a drive in his bus across town that's what authorities in singapore wanted to find out as they prepare to launch a trial of self driving buses it's part of an ambitious plan to roll out autonomous vehicles across the city state so will it work. his days are numbered at least if the trial goes well this driverless bus is one of several vehicles that singapore is trying out next week as part of a scheme to promote autonomous truck force if you've ever wondered how the technology works here is your explanation the hope of those of us to get
up using a walk or bike and think you can sing the praises of the street all senses like these 3 go and be fabulously rich and very low almost bust where. we own the framing. passengers can use an app on their phone to book the shuttles to destinations on offer during the test phase include a golf club the beach and a historic force. to scheme is just one example to illustrate what's becoming a growing interest in the south driving sector the global autonomous vehicle market is a ready worth an estimated $54000000000.00 annually a figure that's expected to increase tenfold in the next decade. competition is ready stiff back in 2016 u.s. software firm new to no mean launched driverless taxi trials in singapore beijing
rival by a master of weeks the company behind the current trial is hoping that betting on self driving buses will push ahead of the curve. and i call in a dragon shape to beijing skyscraper confiscated from a fugitive chinese billionaire has been auctioned to online it was a steal at 662000000 euros on the plaza tower 5 houses a luxury hotel and overlooks that's next olympic stadium authorities seized the 40 story building from exile tycoon growing we whose criticism of the communist government has angered beijing the building was sold on ali baba's online site and the winning bid was just half the value of nearby commercial real estate a. messy business update here in the effects of which.
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