tv Business Deutsche Welle December 21, 2019 12:30am-12:46am CET
come along to the attention of the famous naturalist and explorer. too soon will bring to the next on the phone to moses 250 estate or a home for you to discovery. next petition bush to. the american economy heads into 20 twentieth's record setting pace december completes the longest ever period of growth in the u.s. the 1st ever calendar decade without a recession. also coming up a landmark ruling in france telecom's company orange is guilty of driving it's a ploy used to suicide. and the charity raffle in paris hopes to raise big bucks by auctioning off a work for one of the great masters for. this is your business report i'm stephen
bears in berlin thanks for watching it's a 1st in u.s. history economy has expanded for 126 consecutive months that also means is the 1st time the country has recorded an entire calendar decade without a recession 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 has been uneven with job growth slow at 1st and wages picking up later but things been booming since donald trump became president aided by his tax cut stimulus moves to slash regulation. one sign of that booming economy is that record breaking u.s. markets s. and p. 500 on friday hit a record high for the 7th straight trading session nikkei didn't get the memo however its shares did it despite a strong earnings report revenue for the 2nd quarter beat analyst expectations although gross margins didn't nike posted higher revenues from china spite being hit by u.s.
tariffs as part of the trade dispute notably the company's air jordan brand its own milestone raking in $1000000000.00 in quarterly revenues. 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 u.s. economy does not necessarily mean that it's going to come to an end 2020 but certainly the longer the expansion takes and 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 a recession for 2020 and well there is some debate going on that it's not the strongest expansion that we're seeing but is it but it is the longest and as you
mentioned 126 consecutive months of growth is pretty fascinating and 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 why is that. 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 to their lower side and also business in the united states to do a bit less than expected but you mentioned the jordan basketball
abroad 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 1st in new york thank you. russia and ukraine will sign a 5 year deal on the transit of russian gas to europe via ukraine that's according to announcements by both parties is 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 planned 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 going to we will see. 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 employees at france telecom killed themselves or attempted suicide the company had been trying to force them out by degrading working conditions now a french court has found the firm which has since renames oranje and 3 of its former top executives guilty of moral harassment it's a landmark ruling. 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 a paris court ruled that the company now known as orange bears legal responsibility for the suicides and as sentenced lombardo 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. and. the
company needs to move all in a cocktail 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 until it up and looks at the facts 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 they fear and frustration for orange was fined $75000.00 euros and ordered to pay hundreds of thousands of euros in damages to the families of the victims. let's take a look now at some of the other business stories making headlines. the world bank
says china's economic growth remains moderate but will begin to slow in 2020 linder predicts chinese expansion will drop by 2 tenths of a percentage point expect short term risks to remain despite the recent thaw in trade relations between the us and china. france's competition authority has fined google $150000000.00 euros for anti competitive behavior and for inconsistent rules on its google ads platform u.s. search for firm says it will appeal the decision in september google agreed to pay nearly 1000000000 euros to french authorities to settle a fraud probe. a call it great art for a great cause for a 100 euro ticket a charity raffle in paris plans to raise funds for clean water in developing nations and toward an original picasso painting valued at 1000000 euros. measuring just 30 centimeters by 46 not too mought by pablo picasso is a still life from 1921 it represents a table newspapers and of course
a glass about something. but this is not just any problem because so abstract or long converse the french nonprofit helped the others hopes to sell up 220-0000 raffle tickets for 100 euros each with the winner randomly selected by a computer in early january it's a chance to own a picasso and to do some good. that idea was to have a rough because everyone over all over the world could participate and we wanted to get money from everybody to raise money for a good cause so what would be a good price to give for a profit that everyone all over the word would know i thought of a painting and obviously picasso is the most famous artist ever so i thought picasso would be a good choice. all proceeds from the raffle will go to the international charity
care for a project to provide clean water and sanitation facilities to schools and villages in cameroon madagascar a morocco. prize winner will be announced in an official draw at christie's paris on january 6th organizers hope to make it in the new will event. and that's all for me and the business team here berlin there's a lot more business news and stories on our website dot com slash business i'm stephen there's a villain that's watching. i'm
not laughing at the germans because sometimes i am but most end up with the german think deep into the german culture of. mutants who take this grandma day on the mucosa it's all about. no time rachel join me to meet the gem of a. course to know that 77 percent. are younger than 60. that's me and me. and you know what it's time old boy
because there's so much to discover which will remain cheeriest keep the meat for minds. it was an age of miracles it was an age of arts and an age of excess that's what f. scott fitzgerald wrote about the jazz age of the 1920 s. a glamorous decadent hedonistic decade that had a profound effect on popular culture. without welcome to the show and on the eve of the year 2020 it's no wonder it's in the air they need to look back on the golden twenty's of a century ago and so more on a brand new show in
a moment and also coming up. british photographer tim moore curry is the talk of the town in london with 2 major exhibitions each showing a different side of his remarkable effort. and homeless artist shows art creates art for his cohorts on skid row in l.a. to raise awareness of the widening gap between rich and poor. well they were golden they were roaring and before everything came crashing down in october of 1929 the 1920 s. were a dizzying time of liberation and boundary busting in a frenzy of post-war euphoria many people lived with a devil may care sort of attitude which had an incredible influence on the arts and nowhere where these extremes more palpable been in berlin.