tv Business Deutsche Welle December 20, 2019 10:15pm-10:31pm CET
rana is to achieve more glory in japan next year. 2 and washington delany's strong but next is business news with stephen basically i had a home free and by then thanks to a company and by now. every journey begins with the 1st step and every language with the 1st word published in the. nico is in germany to learn german why not learn with him simple online on your mobile and free shop d w z e learning course nico speak german meaning c. . logo to the euro max you tube channel. close to
a good line of students. with exclusive. the must see concerning barclays culture to ensure a. place to be curious minds. do it yourself networkers. so subscribing and don't miss out. if they're going to con i'm a heads into 20 twentieth's record setting pace for december completes the longest ever period of growth in the us and the 1st ever calendar decade without a recession. also coming up a landmark ruling in france telecom company is guilty of driving its employees to suicide. and with the rise of e-commerce still bad news for south africa's would seem that. this is your business report i'm stephen bears in berlin
thanks for watching. it's a 1st in u.s. history the economy has expanded for 126 consecutive months and that also means it's the 1st time the country has recorded an entire calendar decade without a recession but both milestones were reported today by the national bureau of economic research to be fair the expansion began at a very low point the end of the great recession and it has been uneven with job growth slow at 1st and wages picking up later but it's been booming since donald trump became president aided by his tax cut stimulus and moves to slash regulation . now one sign of a booming economy is the record breaking u.s. markets s. and p. 500 on friday hitting a record high for the 7th straight trading session the nikkei didn't get the memo however its shares dipped despite a strong earnings report revenue for the 2nd quarter beat analyst expectations although gross margins didn't nike posted higher revenues from china despite being hit by u.s.
tariffs as part of that trade dispute notably the company's air jordan brand hit its own milestone raking in $1000000000.00 in quarterly revenue she told. let's bring in our financial correspondent in new york ian's korda yes let's start with this milestone with the u.s. economy a decade without a recession how much longer can this go on. well what we say at least on wall street is bull markets don't die of old age so just because we were on the rise for 10 years with the us economy does not necessarily mean that it's going to come to an end in 2020 but certainly the longer the expansion takes the more likely it gets that at some point there will be a turning point but at least for now most economists here on wall street do not expect the recession for 2020 and well there was some debate going on that it's not the strongest expansion that we're seeing but it is the longest and as you
mentioned 126 consecutive months of growth is pretty festive and so as i said for 2020 so far most economists do not see a recession at the horizon. i want to ask you about nike now overcoming tariffs to beat wall street expectations with revenue yet still seeing it shares slip today what why is that. and well the stock has been on fire all year long believe it's about 46 percent to the upside just on thursday at least during trading we reached a new record high and if you then have tiny little mistakes or or numbers that do not beat expectations then that is not good enough to drive the stock even higher you already mentioned that margins were a bit lower side and also business in the united states to do a bit less than expected but you mentioned the jordan basketball
brand it is also interesting to see michael jordan still playing 16 years ago but his brand is still very solid but yes small misses the margins and was the business in north america that was the reason why we saw a bit of profit taking in their stock of nike. in support of their force in new york thank you. russia and ukraine will sign a 5 year deal the transit of russian gas to europe via ukraine both parties recently announced it's the 1st such deal since the russian annexation of crimea and it followed intense negotiations with the e.u. . these pipes are front and center of a geopolitical crisis north stream 2 percents a new undersea route for russia to deliver gas to the e.u. bypassing its neighbor ukraine in the midst of a conflict that started with russia's annexation of crimea in 2014 what's at stake
for ukraine up to $3000000000.00 in transit fees for gas coming from the orange gas field in western siberia it flows through the brotherhood pipeline crossing ukraine into slovakia for further distribution within the e.u. with the introduction of the north stream pipeline in 2011 much of the russian gas delivered to the e.u. had a new route and north stream 2 will double the capacity leaving ukraine to worry not only about a major source of income but also its own demand ukraine depends on gas from russia but moscow has weaponized its supplies in the past turning off the spigot repeatedly in the 1990 s. russian president vladimir putin says similar action is no longer plan if. we are not going to sign any kind of contract with ukraine in order to stop gas translator no we are interested in this gas transit we are ukraine we want it it's
a convenient route incidentally the ukrainian route is longer than the route along the baltic sea it is longer and more expensive for us but nevertheless this route is worked out to central and southern europe it's good and we're ready to keep it. the next hurdle awaits north stream 2 before the weekend u.s. president trump is expected to impose sanctions on companies involved in the construction of the pipeline the u.s. tries to limit russian gas supplies to europe and instead sell its own natural gas to their allies. in the late 2000 scores of him. that france telecom killed themselves or attempted suicide their company had been attempting to force them out by degrading working conditions now a french court has found the firm since renamed and 3 of its former top executives guilty of moral harassment it's a landmark in. france telecom was under siege back in 2006 when
a brutal reorganization plan saw over 20000 employees lose their jobs the ruthlessness of the redundancies was a shock to the workers and scores of employees were so desperate they were driven to suicide. this man d.d.a. lombard was in charge of the company at the time and this is how employees reacted to him. not. today paris court ruled that the company now another is orange bears legal responsibility for the suicides and as sentenced to 4 months in prison for the illegal methods used to help the company shed thousands of workers from budget lawyer says he will appeal the verdict. last month and
all the company needs to move all in and they need to put this trial behind them it's up to oranges board now to decide what they want to do next to appeal or not respect and i respect that. but as far as the physical people in this trial are concerned it's a whole different story and it's normal that they will appeal. because. the relatives of the victims want to see an example set me just to see q why did the others allow themselves to behave this way it's because they felt they could be punished how can we put an end to this impunity the only way is to deprive them of freedom that's the only thing. a fear infested orange was fined $75000.00 euros and ordered to pay hundreds of thousands of euros in damages to the families of the victims. property property analysts are warning that shopping malls in south africa could soon be
a thing of the past with consumers migrating to online offers in the economy flirting with recession big shopping complexes are battling for every customer. in this shopping complex could mark the end of an era for weighs more in the wealthy northern suburbs of johannesburg is one of africa's biggest. developments an expansion project that took us 278000 screaming into this mixture in training 20 that will expand to 250 eating ass is the biggest make a move on the sub-saharan continent it now operates 450 different stories featuring both local and global brands you know you can get a special inside africa people love to touch and feel and having the store here allows you to still come in touch a chocolate feel the chocolate and with a room of the chocolate the can pass it on his ranch for us but with over $1700.00 malls throughout southern africa market analysts say the retail property space is
becoming saturated. and that 4 ways may struggle to keep their relaunch momentum. beacon to me it's definitely a shadow of what it's been maybe a decade ago. and you do need to be kind of need to grow in order for the consumer to also become a lot more prosperous the consumer to become more positive and as a consumer becomes what a lot of people start to spin this well online shopping also poses a significant threat the e-commerce retail sector has tripled in size in the past 5 years growing into an over 1000000000 euro annual industry as the biggest online market in the country video by process is several 100000 transactions a month. back in the day customers because it was a staff got a very limited scope of where they'd be able to get information about a product from so they would walk into still a salesman would tell them x. and y.
and that was it they didn't have another way to compare to that in of other people's goods it's a check and verify this fact as well as now we see it all the time when people are standing in a shop looking at a product in the 1st that is they put out the phone and then they go look at you also setting this product 4 ways more is adamant it's broad based offering will see it through an uncertain future. and that's all for me and the business team here in berlin there's a lot more business news and stories on our website. business. that's watching.
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