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tv   Business  Deutsche Welle  January 1, 2020 3:15am-3:30am CET

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if. you're watching data news from perlin don't forget as always you can get all the latest news and information around the clock on our website at www dot com for now i'm anthony howard in berlin wishing you a happy new year. on the road with our superheroes. my mission is clear to crush to get to the coast clearly explore germany. does it and everything else there's a lot going on in. germany tested. w
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. 2 curious. do it yourself mr. max you should go. and don't miss out. cut. a record year for global markets trawls to a close trade war didn't stop investors and neither did a slowdown of the world economy look at what's behind the bull market charging in the 2020. also on the show a dramatic twist in the case of jailed auto executive carlos ghosn the former nissan rideau chairman has fled house arrest in japan. and kenya has too much teeth a better harvest has driven prices down leaving growers scrambling to find alternatives. this is your business or business report i'm stephen beard's in
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berlin it's good to have you with us u.s. president donald trump took to twitter on tuesday to say he'll sign a phase one trade deal with china on january 15th the trump tweeted that the deal will be signed in a ceremony at the white house was with high level chinese representatives the deal was concluded earlier this month but many of its details have been slow to emerge including a signing date went on to say that he will go to beijing at a later date for phase 2 talks with again. but the u.s. china trade conflict couldn't do it a slowing world economy couldn't do it slowing the global bull market proved almost impossible in 2019 putting indexes that record level by year's end the dow jones industrial average pictured here there it is rose 24 percent over the course of 2019 the biggest setbacks for the dollar in may after president trump slapped tariffs on mexican imports and again in july after federal reserve chairman jerome
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powell dampened hopes for further rate cuts this year and the dow wasn't alone its record turn the s. and p. $500.00 was up 29 percent one of its best years ever the stocks europe $600.00 nikkei 225 key indices for europe and asia were also up big time. and let's go to our financial correspondent in new york the ends korda yens good to see you on this last program i guess before 2020 a year of supro tips for markets why have global markets been surging so much this year despite a world economy that's often been struggling at a time. and who would have guessed last year around the same time december of 2018 if i remember correctly it was the worst december since 1931 and now we are surpassing one record after another well i guess what does help is that the u.s.
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economy all decade long by the way could avoid a recession that is unheard of but then also money got even a bit cheaper in the past couple of months with 3 interest rate cuts that was also not to be expected this time last year but then there's also a bit of the elect of alternatives bonds are not really attractive at this level and it's not just stocks on the rise but it's also gold oil stocks up so wherever you look we see this turn to the upside there's not a great year furia here on wall street as experience it for example at the end of the ninety's but as i said cheap money and the lack of alternatives those are some mixtures that are all that got the market going in the past couple of months. this trade deal signing appears to be in the offing can investors put trade concerns behind them in 2020 briefly if you can. well as few already mentioned
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now phase 2 of the trade talks will start and those could be much tougher than the ones that we probably will finish in a couple of days and then also we don't know if there might be new trade tensions between the european union and the u.s. but as we've seen in the past couple of months even if we had all those headline headlines with a lot of tension with the trade talks wall street always almost kept its cool but we also shouldn't forget to 2020 will be an election year so that also could spook the market the one way or the other or a quarter in new york. the saga of carlos go on the auto executive turned jail inmate has taken quite a new twist the former nissan renault chairman has fled japan where he faced trial on charges of underreporting his income and financial misconduct go landed in beirut on monday sparking consternation in japan and cheers in lebannon guns that
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he wasn't fleeing justice but escaping in justice this is the house in beirut where carlos cohn is believed to have fled but there's no sign of him and the security guards outside say he's not here but a neighbor has shown up wanting to welcome him to levanon with a card. many lebanese few the former niece and c.e.o. as a successful businessman and is a symbol of the country's large diaspora but in tokyo the unexpected turn of events has sparked outrage. from like him i think he fled because he did something wrong. but whoever escapes wins you know i and many people with money. go as main lawyer says he heard about his client's flight fire media his entire defense team has lost face in japan as they repeatedly said there was no risk to go in would run away.
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with a home on then we were gone completely by surprise i'm dumbfounded personally i don't yet even know how to make contact with him. sort of like i'm. going to skate to lebanon is the latest stunning twist in a roller coaster journey that saw him fall from boardroom to detention center. here he spent more than 100 days in spartan conditions far removed from his sometimes extravagant lifestyle. the automotive tycoon stands accused of underreporting is salary to the tune of $85000000.00 prosecutors also allege he skimmed off millions of dollars from the company for his personal use. go on has repeatedly denied all accusations in a statement the 65 year old said the japanese justice system was quote righ and that he escaped injustice japan does not have an extradition treaty with lebanon so
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it's unclear what steps tokyo might take next. and earlier we asked michael pin president of the shin gets to news agency in tokyo exactly what go in minutes when he accused japan of having a rig justice system well actually a lot of people agree with that outside of the japanese justice system it's been criticized by international organizations and many others so for example in goans case you know when he was accused from that the very 1st moment he learned about it he had arrived in the country on a plane and prosecutors immediately took him into custody and they subjected him to about 4 months of. interrogation where he wasn't able to speak to the media he wasn't able to talk give his own side when interrogators interrogate him there's no lawyer present you know there's many profound. questionable elements to the japanese justice system where essentially once you're caught up in it you're almost
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certain to be found guilty especially if you are indicted as he was and and once you're indicted the statistics speak for themselves you have a 99 percent chance of being found guilty and that's what gold was facing and that's what he's speaking about when he said it was a presumption of guilt and a system of injustice. turkish airlines says it has received compensation from a u.s. plane manufacturer boeing for losses incurred during the grounding of its 737 max aircraft like all airlines turkish was unable to fly its 12737 maxes after 2 crashes involving the aircraft killed hundreds of people compensation totalling $225000000.00 according to media reports also covers the failed deliveries of $737.00 maxes ordered by turkish for 2019. chinese telecoms giant huawei says survival remains its top priority after
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a projected 21944 casts due to those u.s. sanctions chairman erik shoes said while weighs sales revenue 421000 was likely to reach $121000000000.00 that's up around 18 percent but it's below a forecast of $125000000000.00 while weight has been effectively banned by the u.s. from working with american firms on the grounds that it poses a national security threat to charge the chinese company denies. moscow and kiev have signed a 5 year agreement on the transit of russian gas to europe via ukraine after months of difficult talks currently some 18 percent of the e.u.'s annual natural gas consumption comes from russia be ukraine it's expected that russia's state own producer gas problem will transmit the transit rather at least 65000000000 cubic meters of natural gas across the country next year i think you have more than $7000000000.00 in transit fees major source of income for ukraine. over after now where kenyan tea prices drop to one point this year but over 30 percent
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that's the lowest level in 5 years and it's mostly down to oversupply and weakening demand in key export markets but now t. farmers in kenya are experimenting with other varieties and more traditional production methods anything to find new markets. most of the tea produced in kenya looks like this it's called crush tear curl because the long leaves are broken down into tiny grains which are most suited to teabags the product is critical to kenya's economy tea is a top source of foreign exchange and according to the kenya tea development agency one out of every 10 kenyans depend upon tea for a living. but farmers now produce way more than their key customers like britain demand so they're scrambling to come up with other varieties which are more appealing to tea drinkers in other markets and we all know trying to diversify to offer doxies the type that sri lanka produces now that both of those. new markets
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such as you know russia and those other. still these orthodox teas are a big challenge for most kenyan producers who have become world leaders in black tea exports and experts in the crushed hair curl process so far only a handful of companies are making the transition to hold the production in kenya but it allows farmers to produce custom teas with more subtle tasting coloring and that brings higher prices. and that's it for me and the business. business i'm stephen thanks for watching and happening.
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