Skip to main content

tv   Business  Deutsche Welle  August 20, 2019 11:15pm-11:31pm CEST

11:15 pm
coming up on deja vu business singapore is rolling out its 1st trial of self driving justice stephen beardsley has that story and all of your business headlines coming up in just a few minutes don't go away. oh boy. there's no doubt. my managers do no good today nothing would change you know the banks. and so was the language of a bank. speaking the truth global news that matters g.w. made for mines. argentina's
11:16 pm
new treasury minister act fast to stabilize the beleaguered peso selling dollar reserves at a much well move but can he solve the country's underlying problems including its massive pile of debts. also coming up its legal bills are bouncing now german heavyweight fire is selling its animal health unit to free up cash. and fasten your
11:17 pm
seat belts a single to work is getting ready to launch a trial of self driving buses. this is your business report i'm stephen beers in berlin thanks for joining us. argentina welcome the new treasury minister on tuesday and it wasted no time in dealing with the country's fragile economy argentina's central bank auction $112000000000.00 u.s. dollars from its reserves to stop the country's peso from falling markets welcomed the move but more remains to be done. it's looking increasingly likely that the presidential palace in buenos aires will have a new resident in the near future although the current president maurice cree has just appointed the 4th treasury minister of his tenure if you expect the president to be around long enough to see how the new man performs the election is coming and everything points to a big defeat from mockery just over a week ago he suffered a crushing defeat to the left wing opposition candidate out battlefront on days in
11:18 pm
a national primary a key bellwether ahead of the main presidential vote on october 27th in the aftermath the argentine stock markets suffered one of the biggest falls in its history while the peso fell sharply against the us dollar it was all too much for outgoing treasury minister nicola last to hold any who promptly resigned and. he says he wants to make the most of the 2 months left to polling day. when the next administration arrives or. whoever the voters choose the important thing is that the starting point for the next president is a solid and robust platform to recover growth. but argentina is buried in debt the i.m.f. gave my crees government a $57000000000.00 loan last year on the provision that it implemented strict
11:19 pm
austerity measures to attract foreign investment. the investment has not come the economy is struggling and the i.m.f. are due for a visit. just yesterday i spoke with representatives of the i.m.f. by telephone. in the coming days they will visit to make a review of the goals that were set out. but who cares about abstract budgetary targets when ordinary people are running out of money with price increases of more than 50 percent already recorded in 2019 it looks like there are more difficult times ahead for argentina. over in north america now where u.s. steel says it's laying off up to $200.00 workers for at least 6 months at its plant in the state of michigan back in june the company warned that softening demand and lower steel prices would lead to the closing of 2 blast furnaces at the great lakes
11:20 pm
facility layoffs call the question claims by u.s. president trump that he's reviving the domestic steel industry and let's go to our financial correspondent in new york yes korda so yes some dark clouds over the steel industry what's really behind this. you know well i mean when the current administration started to impose tariffs on steel and in march of 28000 we saw a little bit of a production increase here in the united states but at the same time we saw prices for steel starting to decline pays basically also between of the trade disputes between china and the united states that china to buy steel and china pretty much is the biggest buyer of steel so steel prices started to stumble at the same is true for stock prices if you take the stock price of united of u.s.
11:21 pm
steel that's basically in a freefall since march of the stock is down by 17 percent so just last week u.s. president donald trump claimed in their steel industry of pennsylvania that he actually. turned a dense business into a thriving enterprise well those numbers actually tell a different story and hence is more talk today and us about economic stimulus to ward off for a session what's in discussion. that actually seems to be the big new idea here in the united states but we heard similar arguments over in germany for instance so the central banks overall seem to basically got rid of all their dry powder so now. we see the turn to fiscal politics so there is the idea for example here in the u.s. to cut payroll taxes but that is very unlikely to happen even if us president
11:22 pm
donald trump on tuesday said that he's toying around with this idea but we're in the face of elections and it's basically impossible that there will be a majority for such plans but it's interesting to see even if we for example 2 full employment here in the united states every body seems to try whatever it's possible to keep economic growth going right quarter there for us in new york thank you yes . german conglomerate buyer hoped its takeover of us for months and so would turn it into a heavyweight in the promising sector of crops instead the purchases put buyer in a very difficult position the legal costs from one santos rounds of killer are climbing and buyer needs cash now it's sold its animal health unit man's best friend is trending with incomes rising worldwide the demand for animal health products is also increasing now german pharmaceutical giant buyer is selling its
11:23 pm
animal health unit to u.s. based drug firm cole 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 $5400000000.00 euros crop science with just over $14000000000.00 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 multi-billion dollar lawsuits over the weekend a roundup on its active ingredient delightful said it with funds 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 suntan lotion brand coppertone as well as its dr scholl's foot care unit buyers planning to focus more
11:24 pm
on its traditional divisions including pharmaceuticals and consumer health. british prime minister boris johnson has asked the e.u. to renegotiate its regs that agreement threatening his country will otherwise leave without a deal on october 31st whatever the likelihood of a renegotiation more businesses in the u.k. are realising how difficult it could be. the trucks are still rolling swiftly through the port of dover but soon there could be long traffic jams at the end of october britain intends to leave the e.u. with or without a deal prime minister boris johnson never tires of stressing but a brakes it without a deal would definitely mean customs controls in ports like dover and long waiting times 10000 trucks 220030000 very can you imagine if there's going to be apt help for everybody it's going to bankrupt the british economy fears of serious economic consequences in the event of
11:25 pm
a no deal brigs that are growing not only here in dover last weekend secret government documents were revealed they warn shortages of food medicines and petrol in the event of a no deal brags that. the fears are not exaggerated when you consider the formalities that are common for goods in customs clearance with countries outside the e.u. internal market. everybody doing papers like me. for 5 hours not our job but that too much time meanwhile the bricks of supporters in the new british government still hope to renegotiate the divorce agreement they don't seem to have a plan b. e you appear to be putting up a barry isn't saying they don't want to talk i'm sure they will change their mind a help they will change their mind but we are ready to the top of the 51st deal new deal in a 4 page letter boris johnson has just made demands on the e.u.
11:26 pm
but demands are not it doesn't look like new negotiations are on the horizon. commuters take a driver last bus to work that's what officials in singapore hope to find out as they prepare a trial of self driving buses. 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 to technology works here's your explanation. for those of us to get up using a wall or. even sing the praises of the street all senses like these 3 and a few things. did. almost bust where. we . train. passengers can use an app on their phone to book the shuttles the
11:27 pm
destinations on offer during the test phase include a golf club the beach and an 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 already worth an estimated $54000000000.00 annually a figure that's expected to increase tenfold in the next decade competition is a pretty stiff back and 2016 u.s. software from you to know me launched driverless taxi trials in singapore beijing by full 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 that's it for me in the business team. thanks for watching.
11:28 pm
the world is getting more numerous. more consistently among problems. the global 3000 talk to a team of british researchers who take a mystic view. is not always a good place but it's much much better than i was
11:29 pm
a hot just getting better the ball 3 times of 60 minutes. described as soon as it sinks. into the. need to take a closer. call . and. of course there's. video and or you know. any tie down anywhere that d.w. media center. the quiet
11:30 pm
melody resounds among the white of the mood. and it zooms. resonate within its soul. the mind and the music. tovan 1st bond 2019 from september 6th to september 29th. this is 11 years after that coming up in the next 15 minutes droughts storms and props a list a study finds more people in africa are seeing and feeling the effects of climate change. the house everything there's nothing left. we're here to suffer and. we're suffering i don't know where we're going to be able to stay right
11:31 pm
now. and the hidden treasures he gets to be and did i read these national museum and and catalog insight into.


info Stream Only

Uploaded by TV Archive on