characteristic confidence from u.s. president donald trump and the more cautious optimism from those who've been doing most of the negotiation the world's biggest economies may be close to a deal but getting there may take longer than expected. but for more i'm joined by angela i dare an american lawyer political adviser and the founder of d.c. berlin consulting that is the platform i understand that allows him to translate washington to germany or the world let's. by explaining what happened last night in washington well. we didn't learn a whole lot new i suppose the biggest piece of news is that they're still negotiating at all i think if you rewind about six months the chances of coming to a deal i think we're viewed as less likely and now it looks like the momentum really is moving toward a deal and so i think the deal have to entail in order to actually happen. for a few weeks now we've really. known the contours of the deal so if you differ buckets with the removal of tariffs as you mentioned the purchasing commit

the u.s. says no more exceptions to its oil export sanctions on iran so will it really go after major importers like india and china and what could today's announcement and iran's reaction mean for the global oil train. and what's the proper work life balance ali baba's jack ma says chinese employees should spend more time working but the country's rising middle class isn't so sure we'll take you inside the debate. i'm stephen burns in berlin thanks for joining us the white house has announced the end of waivers for countries to import iranian oil us had reimpose sanctions against iran last year threatening to punish any country that buys oil from tehran but it granted waivers to the eight primary buyers of iranian oil allowing them limited purchases for six months there are fears that removing the waivers now would reduce oil supply to a market that is already tightening but u.s. officials say any shortfall can be picked up by other countries including the u.s. itself and its gulf allies. to

sputtering sales outs tariffs catch up with iconic u.s. motorcycle maker harley davidson provoking a speedy response from u.s. president donald trump spoiler alert he was not amused. wake up and smell the coffee because starbucks isn't the only game in town the chinese chain and lock in coffee is taking on the u.s. java giant all the way to the nasdaq. and when one man's trash is a nobody's treasure return ation still export their ways to poorer countries but that's gotten harder we look at australia struggle to clean up its own after. harley davidson has reported a stall in quarterly profits as it struggles to deal with the impact of tariffs and slow sales the motorcycle makers profits twenty six percent to around one hundred twenty eight million dollars the new sparked an angry response from u.s. president donald trump who blamed europe for the company's poor performance and value to quote reciprocate the e.u. slapped a steep tariffs on harley davidson bikes last year as a reaction to us today. and aluminum. joining me now is our financi

u.s. banks outclassed european competitors a new study by eve why found that u.s. banks are more than twice as profitable than their european counterparts we go live to germany's financial hub frankfurt to find out why. also on the show ride sharing is getting more and more popular now folks live in launches and use this in the german city of hamburg to get a piece of the action. and wake up and smell the coffee because starbucks isn't the only game in town chinese chain luck in coffee is taking on the u.s. job a giant all the way to now stuck. hello welcome to your business good to have you with us a study by consulting for me why has revealed a striking difference in the size of profits u.s. banks are making compared to the european counterparts and taken together the ten largest u.s. banks last year made a profit of one hundred thirty eight billion euros compare that to the top ten european financial institutions they made fifty two billion that is less then half as much j.p. morgan chase was leader of the pack in the us bringing in a massive twenty eight billio

it will be but the trade relationship between the u.s. and e.u. has been anything but friendly in recent months trumps punitive terrorists on steel in aluminum imports from the e.u. has soured the relationship as has his repeated threat to increase the levy on european made cars. joining us now is our financial correspondent yes carter on wall street welcome yeah it's good to see you now is this threat enough to qualify as a further escalation of trade tensions between the u.s. and the e.u. and how damaging do you think it could be for the talks. well i mean so far is not that substantial if you look at the exports from the european union to the u.s. in the past year we are talking about roughly four hundred ninety billion dollars and all those new tariffs are for goods in the amount of eleven billion so it's minor in that sense but certainly there is an easy in this if we might be seeing some tit for tat so now that the european union might answer and that could provoke u.s. president donald trump and his administration once again and that's wher

and facebook expects u.s. regulators to penalize it as much as five billion dollars for recent data scandal does that mean the impunity of tech companies in the u.s. is finally coming to an end. also on the show hundreds of tons of illegally mined gold are smuggled out of africa annually robbing countries of urgently needed revenues miners say it's their only chance for a livelihood. i'm stephen birds in berlin thanks for joining us merger talks between germany's two largest lenders were greeted with skepticism when announced six weeks ago as well as outright opposition now those discussions between deutsche bank and combet spog officially collapse the fusion would have created the country's largest financial institution and likely bled tens of thousands of jobs the banks themselves said today that a merger would have been too costly and complex take a look at bellin wanted it to happen but that wasn't enough to unite the two chairmen giants banks said right from the beginning we would only go into these this

or tell me that you know it will be but the trade relationship between the u.s. and e.u. has been anything but friendly in recent months. of terrorists on steel in aluminum imports from the e.u. has soured the relationship as has his repeated threat to increase the levy on european made cars joining us now is our financial correspondent yes court on wall street welcome yeah it's good to see you now is this threat enough to qualify as a further escalation of trade tensions between the u.s. and the e.u. and how damaging do you think it could be for the talks well i mean so far is not that substantial if you look at the exports from the european union to the u.s. in the past year we are talking about roughly four hundred ninety billion dollars now those new tariffs are for goods in the amount of eleven billion so it's minor in that sense but certainly there is an easy miss if we might be seeing some tit for tat so now that the european union might answer and that could provoke us president donald trump and his administration once again and that's where the danger lies so tha

characteristic confidence from u.s. president donald trump and the more cautious optimism from those who've been doing most of the negotiations the world's biggest economies may be close to a deal but getting there may take longer than expected. more trouble for germany's top carmakers. charged with colluding to prevent competition on emissions cleaning technology european regulators are accusing the car makers of working together to. limit the development and introduction of technology that would clean up emissions the allegations of a diesel and petrol cars sold in the european economic area the period between two thousand and six and two thousand and fourteen companies could face penalties of up to ten percent of their annual turnover. in pakistan inflation is at its highest for over five years imran khan's government was elected in twenty eighteen with a promise to eradicate poverty it's not even been a year but patients amongst average pakistani voters is now wearing thin. inflation is killing us reads this sign is

and u.s. regulators. in new york thank you so much. u.s. president trump is stepping up the pressure on cuba washington apparently plans to lawsuits against foreign companies doing business and property seized from americans after the island's nine hundred fifty nine revolution the move which is expected to be announced on wednesday could expose u.s. european and canadian companies to legal action dealing a blow to cuba's efforts to track more foreign investment. the tightened u.s. measures would effectively keep foreign investors and their money out of cuba. but the communist ruled caribbean island is already struggling with a range of economic and social problems the crisis in its ally venezuela spilling over every day supplies are becoming scarce or supermarket shelves are empty long lines form for a little chicken eggs or cooking oil. shortages in the whole country there are problems we hope the situation will recover you can see that there are more eggs and things but yes there have been a lot of problems that's why they're all aryans

china and the u.s. actions on other countries is probably going to have a much bigger impact than brics although brics it will have a very concentrated impact on the u.k. and the e.u. so you know it's. six one half dozen of the other probably a little bit worse on the global side us china in concrete times what are your findings what can we expect. well our findings are by the way generally our concern is slowing economic growth because that drives a lot of trade growth particularly investment but these trade measures that countries are taking with against one another u.s. china for example well the uncertainty around the brics a deal also weigh on trade growth in that can affect quite a bit the bilateral relationships between countries we see a lot of trade diversion potentially occurring particularly in asia and north america and we would expect with a disorderly break said to see more trade diversion occurring around the e.u. in the u.k. so what that means is that the direct effects are offset partia

u.s. pakistan bangladesh and mexico un dar or broad group is a company specialized in energy fission the air conditioning heating and air purifying lately broadest planning for further international expansion. in that union and the delta raid initiative is a good opportunity for us to cooperate and to promote our business further we expect to see a lot of new opportunities where we are all the down. but end road also called the new super road initiative is a massive investment program by the chinese government into international transport infrastructure in the past decades china has invested massively in its own infrastructure now it builds roads railways in ports around the world china says the initiative is designed to boost international trade and cooperation but critics see there's a means to extend china's influence beyond its borders. that we are that is the main projects of the belts and road initiatives are all implemented by china's state owned enterprises these companies are clos

or the u.s. now when it comes to the possible this isn't on the level of used countermeasures that decision has to be stablished in light of the final decision of the cio every traitor that we expect to come in the near future washington and brussels are already in conflict after us president donald trump subjected e.u. steel and many of imports to punitive tariffs the e.u. responded with duties on two point eight billion euros of u.s. imports the latest airplane subsidy tariff list is open to consultation until may the thirty first and could still be revised and both sides have said they would prefer a settlement that did not involve tariffs joining me now is a quarter our financial correspondent on wall street good to see you well all this week they declared its preparedness to start formal trade talks with the u.s. how would you assess sentiment out of washington also given this development. well especially u.s. president donald trump has said that when it comes to trade to europe it's probabl

on russia isn't even in the top ten markets for mercy's cars but with import tariffs looming in the u.s. it has high hopes for russia with one hundred forty million. people and a growing middle class immersed sadie's is a so it after status symbol here one that justifies the company's two hundred fifty million euro investment but for the german government it's a balancing act investing big in a country still under european sanctions are these and so on the job was pretty sanctions were adopted for political reasons and we need political progress to change that. i mean here we are helping to overcome the political impasse that has prevented so much in recent years if you display in the cars were not affected by the sanctions at least not directly but the economic turmoil that followed caused the market to stagnate dimler could now be leading the way as german car makers look to return to russia. let's take a look at the world financial markets now court is our correspondent standing by on wall street against fresh economic data suggest that the u.s. economy is slowing further give us the

the u.s. says no more exceptions to its oil export sanctions on iran so will it really go after major importers like india and china and what could today's announcement and iran's reaction mean for the global oil trade. and what's the proper work life balance ali baba's jack ma says chinese employees should spend more time working but the country's rising middle class isn't so sure we'll take you inside the debate. i'm stephen birds in berlin thanks for joining us the white house has announced the end of waivers for countries to import iranian oil us had reimpose sanctions against iran last year threatening to punish any country that buys oil from tehran but it granted waivers to the eight primary buyers of iranian oil allowing them limited purchases for six months there are fears that removing the waivers now would reduce oil supply to a market that is already tightening but u.s. officials say any shortfall can be picked up by other countries including the u.s. itself and its gulf allies. the

senior u.s. treasury official david malpass has been elected as the new president of the world bank it was the trump administration's unanimous pick for the job it has always gone to an official from the united states while the world bank's sister organization the international monetary fund is headed by a repeat. french finance minister brutal america says his country is sticking to its plans to introduce a digital tax on companies like facebook or apple despite opposition from washington the three percent levy would apply to high tech firms operating in france with an annual global turnover of more than seven hundred fifty million euros the european union says greece has fulfilled its reforms as part of its exit from its bailout program last summer so the block has now approved and nine hundred seventy million euro debt relief payment to athens the money consists mainly of east and b. and other eurozone central bank profits made on greek government bonds during the bailout period. european regu

senior u.s. treasury official david malpass has been elected as the new president of the world bank it was the trump administration's unanimous pick for the job it has always gone to an official from the united states while the world bank's sister organization the international monetary fund is headed by a repeat. french finance minister brule america says his country is sticking to its plans to introduce a digital tax on companies like facebook or apple despite opposition from washington the three percent levy would apply to high tech firms operating in france with an annual global turnover of more than seven hundred fifty million euros the european union says greece has fulfilled its reforms as part of its exit from its bailout program last summer so the market has now approved and nine hundred seventy million euro debt relief and to athens the money consists mainly of east and the other eurozone central bank profits made on greek government bonds during the bailout period. european regulators

but those solutions don't come cheap this unit cost ten thousand u.s. dollars it's affordable for larger firms but not so much for residents in many parts of harare borehole clinic wants to drill there as well but it doesn't have a mandate from the city authorities that means that constantly flowing fresh water remains is simply a dream here. and now to some of the other news business news across the world the white house has announced the end of waivers for countries to import iranian oil to the u.s. has reimposed sanctions against iran last year threatening to punish any country that buys iranian oil though it granted iran's aides main buyers of all waivers to the sanctions allowing them limited for purchases for six months the countries affected are china india italy greece japan south korea taiwan and turkey which already said it would not not respect the sanctions or the prices rallied by about three percent on the news brant crude is hovering around the seventy four dollars mark per barrel there are fears that removing the sanctions waivers would

who has been building friendly relationship with both chinese and u.s. government officials however his pro china image should make people doubt if he could run taiwan's government independently it beijing precious precious him but he adds that you only want to promote peace and prosperity between china and taiwan it's no longer the catwalk that alone dictates fashions social media stars are increasingly calling the shots they're known as key opinion leaders chinese millennial is on the hunt for luxury items you know all about them. here in shanghai top american designers latest collection is being presented to a select group of guests. and when john was one of the most special neither a movie star nor a pop musician she sick a.o.l. a key opinion leader on social media a fashion influence there. have advantages where fast we work with our phones and we post what we see directly and as private individuals we can get closer to people. study design she became a style icon through her instagram posts and fashion blogs hundreds of thousands of people follow w

i'm joined by law in berlin welcome to the show u.s. aircraft maker boeing saw quarterly profits fall steeply as it grapples with a seven three seven max crisis the plane was grounded around the world after the models were involved in two fatal crashes within a six month span and fixing the fallout is coming at a billion dollar price prompting boeing to abandon its financial forecast for twenty nineteen. the boeing seven three seven marx was supposed to bring the company into the future but now the model which had initially sold strongly has become its biggest liability in the first quarter alone the seven three seven max generated extra costs of a billion dollars a must just the beginning because the seven three seven across to currently grounded worldwide boeing will face massive compensation payments to its customers the airlines there are also a barrow should lawsuits mainly from the relatives of the victims of the two crashes an ethiopian airlines plane in march and the same seven three seven from indonesian lion air in october. th

and u.s. first quarter economic growth beats all expectations but investors were missed in their response the financial correspondent tells us why. also on the show japan has a notorious work till you drop business culture or the country's labor shortage is now giving workers in one sector some leverage to challenge those expectations to give the details. and student peers in berlin thanks for joining us german chemical multinational buyer faces shareholders at the group's annual meeting friday in bonn and as expected it was a tense affair the company's share price has lost nearly half its value following last year's takeover of u.s. agra tech for months and in particular after two american court cases linked that company's popular weed killer round up to cancer cases and that's put buyer in the crosshairs of not just environmentalist and lawyers but its own shareholders. the atmosphere was talked sick even before the shareholder meeting began environmentalist's right to protest against buyers

the u.s. sanctions are counterproductive because they create uncertainty in the market and aren't specific enough pretty much any company can be affected by them even in his answer on the call from the v.w. is investing in the russian market for the long term with sites like this factory in kaluga engines made here will go into models manufactured mostly in the czech republic and spain things are less positive at ford it's looking to scale back its russian production dramatically the u.s. based company has been a loser and the price wars. have civil of sorts made a mistake was its pricing policy russians were used to cheap ford cars that they could afford then ford raised prices very quickly. not as damaging a move in the luxury segment perhaps b.m.w. customers are always more willing to splash out but especially in russia. it was remarked the russian market has potential we increased sales by twenty percent last year and see room for growth with new models fueling demand with normal dollar an

if the u.s. has its way a ring and oil exports could completely dry up in may the run up sanctions are likely to lead to a deepening recession up to six percent according to the international monetary fund the organist's the organization has also warned that the conflict between iran and the us could end up the stabilizing the entire region. here in teheran people are exchanging rio's as fast as they can faith in the iranian currency has fallen dramatically it now takes a stack of them one hundred forty four thousand at the moment to purchase a single dollar and most people fear the u.s. sanctions will drive the rio down even further. of course the country's revenues are going to drop and maybe the real value will drop as well and the end of the pressure that they're putting on is pressure on the people their social level yes. some people have fixed limited wages like us when prices rose we had to change a lot of things our rent went up. then we were forced to spend our money on rent instead of f

or community it will be but the trade relationship between the u.s. and e.u. has been anything but friendly in recent months trumps punitive terrorists on steel in aluminum imports from the e.u. has soured the relationship as has his repeated threat to increase the levy on european made cars. joining us now is our financial correspondent yes court on wall street welcome good to see you now is this threat enough to qualify as a further escalation of trade tensions between the u.s. and the e.u. and how damaging do you think it could be for the talks. well i mean so far is not that substantial if you look at the exports from the european union to the u.s. in the past year we are talking about roughly four hundred ninety billion dollars and all those new tariffs are for goods in the amount of eleven billion so it's minor in that sense but certainly there is an easy ines if we might be seeing some tit for tat so now that the european union might answer and that could provoke u.s. president donald trump and his administration once again and that's where the danger l

growth and according to a u.s. state department memo released by wiki leaks the current chinese premier league could top a u.s. ambassador in two thousand and seven when the peer premier within a local official that the g.d.p. figures were not reliable and he himself look at other indicators like the row a cargo valliant electricity consumption and the loans dispersed by banks better economic indicators so i guess the answer is pretty obvious is this something that is actually being discussed in china whether these figures can be trusted and the precise. well i'll is that people want to discuss it but it's very difficult because it's a very sensitive issue in china let me give you one example the chief economist of china's agricultural bank said in a speech that actual g.d.p. growth number in china in two thousand and eighteen was only one point six seven or even negative which is very different from the government officials figure. the video of that particular talk was immediately censor over the chinese internet

it difficult to put it mildly u.s. president donald trump is actually saying that the european union has been a brutal trading partner but all comes back to bite you whatever that means but we can probably expect some pretty rough trade talks and if you look at the trade balance the u.s. exports the goods in the amount of three hundred twenty billion dollars to europe and on the other side they import goods in the amount of four hundred ninety billion dollars meaning they're running a trade deficit with the amount of about one hundred seventy billion dollars and therefore the trump is ministration believes that they have the better cards in their hands as the might depend a bit more on exports to europe than vice versa so we can certainly expect some tough talk that tough talks ahead indeed but on the corporate finance they've got a much awaited filing from over how far going down where you are. well i mean traders are excited because other than compared to a lift the stock will not be traded at nasdaq but here behind

let's do business u.s. president. to stop it handing over financial records about the banks dealings with the new york real estate mogul congressional oversight committee subpoenaed the documents. for years the job has been from main and sometimes only creditor financing many of his construction projects democrats in congress say they want to investigate possible financial ties between trump and russia. was reportedly concerned about its exposure with trump as he was campaigning for the presidency and now says it is fully cooperating with congressional committees in washington. over to frankfurt where doj is based and our financial correspondent. the president suing this this is very interesting and also would have to be george's biggest nightmare come true. well but it's certainly a big nightmare if not the biggest nightmare coming true well you can release sea was the biggest nightmare when it comes to do it your bank but it's has been a loyal lender to of president trump when he was a businessman and that's when so

the new u.s. restrictions on cuba are set to effectively keep foreign investors out of the communist country today we're holding the cuban government accountable for seizing american assets were helping those in the regime has robbed get compensation for their rightful property and were vats of human rights and democracy on behalf of the cuban people. the cuban people are already struggling with a range of economic and social problems the country desperately needs foreign currency to pay for imports the crisis in venezuela spilling over every day supplies are becoming scarce or supermarket shelves are empty and people face long lines for basic supplies like chicken cooking oil and eggs. but things could get even worse warns cuban communist party leader raul castro in a speech to the national assembly last week he said his country would never give up its solidarity with them as a way something which has prompted the u.s. to tighten its restrictions on cuba. should the u.s. decide to sanction compan

is talking about this breaks it and the trade conflict between the u.s. and china i mean brags it will be resolved in some issue at some point we all hope the talks between china and the u.s. seem to make progress. it looks like these two big threats could be you know gotten out of the way in the future right they could and this is actually what the i.m.f. assumes in its projection but they could also worsen if you think about the brics situation where expecting a solution for the situation for four months by now and it's not happening and all the uncertainty that is associated with the situation it's not so much it's not what what damages the world economy is not so much the actual bricks it or the actual introduction of carers what damages the world economies the inserts and uncertainty associated with the current situation of negotiations etc and as long as those negotiations persists persist we have a the celebration of growth and this is what is happening but the i.m.f. is optimistic they are expecting that solutions to both those problems will take

u.s. says no more exceptions to its oil export sanctions on iran so will it really go after major importers like india and china and what could today's announcement and iran's reaction mean for the global oil trade. and what's the proper work life balance ali baba's jack ma says chinese employees should spend more time working but the country's rising middle class isn't so sure we'll take you inside the debate. i'm stephen birds in berlin thanks for joining us the white house has announced the end of waivers for countries to import iranian oil us had reimpose sanctions against iran last year threatening to punish any country that buys oil from tehran but it granted waivers to the eight primary buyers of iranian oil allowing them limited purchases for six months there are fears that removing the waivers now would reduce oil supply to a market that is already tightening but u.s. officials say any shortfall can be picked up by other countries including the u.s. itself and its gulf allies. the

the u.s. sanctions are counterproductive because they create uncertainty in the market and aren't specific enough pretty much any company can be affected by them. and so on the. v.w. is investing in the russian market for the long term with sites like this factory in kaluga engines made here will go into models manufactured mostly in the czech republic and spain things are less positive it forward it's looking to scale back its russian production dramatically the u.s. based company has been a loser in the price wars. gladness should have civil of sorts made a mistake was its pricing policy russians were used to cheap ford cars that they could afford then ford raised prices very quickly. that are not as damaging a move in the luxury segment perhaps b.m.w. customers are always more willing to splash out but especially in russia. there was a remark the russian market has potential we increased sales by twenty percent last year and see room for growth with new models fueling demand. and german car

game in town chinese chain lock in coffee is taking on the u.s. java giant all the way to the nasdaq. and when one man's trash is a nobody's treasure richer nations still export their ways to poorer countries but that's gotten harder look at australia struggle to clean up its own. harley davidson has reported a stall in quarterly profits as it struggles to deal with the impact of tariffs and slow sales the motorcycle makers profits twenty six percent to around one hundred twenty eight million dollars the new sparked an angry response from u.s. president donald trump who blamed europe for the company's poor performance and valid to quote reciprocate the steep tariffs on harley davidson bikes last year as a reaction to us today. and aluminum. joining me now is our financial correspondent host. luis good to see you know so this is a bit of a shift in tone for donald trump the first advocated for a boycott of the harley's after harvey said it was shifting production to overseas now it's valid to retaliate on its behalf so tell us jose luis what's he t

and in berlin welcome to the show u.s. aircraft maker boeing saw quarterly profits fall steeply as the what the seven three seven max crisis the plane was grounded around the world after the models were involved in two fatal crashes within a six month span and fixing the fallout is coming at a billion dollar price from thinking boeing to abandon its financial forecast for twenty nineteen. the boeing seven three seven mox was supposed to bring the company into the future but now the model which had initially sold strongly has become its biggest liability in the first quarter alone the seven three seven max generated extra costs of a billion dollars a month just the beginning because the seven three seven across to currently grounded worldwide boeing. face massive compensation payments to its customers the airlines that are also at barrow should be lawsuits mainly from the relatives of the victims of the two crashes an ethiopian airlines plane in march and the same seven three seven max model from indonesian lion air in octo

work she says the u.s. could be is farah nihilism in the students at georgetown university calling for their own cherishing fees to rise by twenty seven dollars and twenty cents per semester why such a precise amount ten cents for each of the two hundred seventy two slaves sold by the university package eight hundred thirty eight keep it so for the flight to initiative if approved to see every student paying into a pot that would help fund for example scholarships for the descendants of slaves. i think is really important for george don't take a stand because like the human capital that we gained from the sale of these people is still benefiting us a person would have closed down without these people giving this kind of like i'm willing sacrifice and so i think as a student who goes here like i'm benefiting a lot from this education so i owe it to these people and their descendants to get up back here the students held a nonbinding focus on whether or not to introduce the ink. fees and everyone is in favor

well maybe the question should not be why u.s. prosecutors are so much fosco by why it took germany so long but if you look here at the u.s. prosecutors often have their own political political agendas so there might be some extra motivation to speed up things and then we shouldn't forget that folks watching is a foreign car companies so they're not that crucial to the u.s. economy as that would be the case with some of the big u.s. carmakers so that might also be another reason i'm saying may be why a u.s. prosecutors are a bit sharper when it comes to foreign corporations than to their own car industry . i also asked our correspondent how much this scandal has hurt folks lagan in the united states where it was having a hard time anyway. it has been very painful for for folks like me here in the united states and first there was the money i mean they already did pay and had penalties in the amount of a good thirty billion dollars just here in the u.s. just last month we got a new laws to the wood that got filed from the securitie

your county give party earns around twenty u.s. dollars a day on that income he supports his wife and four children. yeah she went up a long time when we only want to basic things such as more customers and certain and clear road rules and cheap gas and affordable necessities and differently we won't be happy with empty promises. and that's all that many of indonesia's one hundred ninety million voters want a month ago jakarta's first metro line opened but president joe we do know it doesn't have the money to deliver the roads bridges and railways needed right across indonesia that leaves big cities like jakarta as gridlocked as ever but that's good for the motorcycle taxi business at least. a ticket for the violent andre hang joins us now from singapore andrea you've been following this election for us what are the latest results looking like well the early election results are showing that president the incumbent president joe cole we don't know or djoko he is he leading by eight to ten percentage points over his second time riva

u.s. banks outclassed european competitors a new study by e.u. why found that u.s. banks are more than twice as profitable them their european counterparts when you talk to a german franky experts to find out why. also on the show german fin tech company wired card gets ready for a strategic alliance with japan's softbank. and three days after the terrible easter sunday attacks in sri lanka the island's hotel and hospitality sector worries about the impact on tourist. island welcome to do business good to have you with us a study by consulting firm eve why has revealed a striking difference in the size of profits u.s. banks are making compared to their european counterparts taken together the ten largest u.s. banks last year made a profit of one hundred and thirty eight billion euros now compare that to the top ten european financial institutions they made fifty two billion that is less than half as much j.p. morgan chase was leader of the pack in the u.s. bringing in a massive twenty eight billion euro profit in europe it was ages b c that came out on top with twel

and u.s. first quarter economic growth beats all expectations investors were missed in their response the financial correspondent tells us why. also on the show japan has a notorious work till you drop business culture the country's labor shortage is now giving workers in one sector some leverage to challenge those expectations to keep the details. i'm stephen beers in berlin thanks for joining us german chemical multinational buyer faces shareholders at the group's annual meeting friday in bonn and as expected it was a tense affair the company's share price has lost nearly half its value following last year's takeover of u.s. agra tech for months and in particular after two american court cases linked that company's popular weed killer round up to cancer cases and that's put buyer in the crosshairs of not just environmentalist and lawyers but its own shareholders. the atmosphere was talked sick even before the shareholder meeting began environmentalist's right to protest against buyers policy

and in berlin welcome to the show u.s. aircraft maker boeing saw quarterly profits fall steeply as well the seven three seven max crisis the plane was grounded around the world after the models were involved in two fatal crashes within a six month span and fixing the fallout is coming at a billion dollar price prompting boeing to abandon its financial forecast for twenty nineteen. the boeing seven three seven mox was supposed to bring the company into the future but now the motor which had initially sold strongly has become its biggest liability in the first quarter alone the seven three seven max generated at . cost of a billion dollars and that's just the beginning because the seven three seven across the currently grounded white boeing will face massive compensation payments to its customers the airlines there are also a barrel should be lawsuits mainly from the relatives of the victims of the two crashes an ethiopian airlines plane in march and the same seven three seven max model from indonesian lion air in october la

the u.s. are terms of resolving the nuclear issue chinese keen to remind the world that north korea's its main allies so i think there's going to be a big political dimension to north korea going there sounds like some complications thank you very much for coming in and very thank you very much for your analysis now as ukraine prepares for an election on sunday of course ruled the nationalization of ukraine's biggest linda. illegal since shock waves through the financial sector the ruling is viewed as a setback for incumbent president petro poroshenko in this weekend's final round of voting. every third ukrainian has a bank account here it's the country's biggest lender the news that it might be returned to private ownership as unsettled the bank's customers. before the bank was nationalized in twenty sixteen it had piled up almost six billion dollars in debt the government bailed the bank out and nationalized it blaming fraudulent lending practices and money laundering by co-founder igor colo

of investment in china and the us who has been building friendly relationship with both chinese and u.s. government officials however his pro china image should make people doubt if he could run taiwan's government independently it beijing pressure pressures him but he adds that you only want to promote peace and prosperity between china and taiwan it's no longer the catwalk that alone dictates fashions social media stars are increasingly calling the shots they're known as key opinion leaders chinese millennial is on the hunt for luxury items know all about them. here in shanghai top american designers latest collection is being presented to a select group of guests. and when john lowe was one of the most special neither a movie star nor a pop musician she sick a.o.l. a key opinion leader on social media a fashion influence there. have advantages where fast we work with our phones and we post what we see directly and as private individuals we can get closer to people. study design she became a style icon through her instagram posts and fashion blogs hundreds of thousands of people follo

however the company currently faces thousands of lawsuits in the u.s. over possible cancer risks. there's no way to gloss this over the lawsuits and the initial verdicts on life a safe have weighed heavily on our company and there unsettling many people. are feeling mentioned they're also unsettled by a number of studies the world health organization says and one that glyphosate is a potential concert risk while other scientists concludes that guy for sage is not carcinogenic one thing is certain the destruction of buyer's market cap since the monsanto acquisition as its stock price collapses there's deep mistrust of the company both inside and outside of the pond masing right now the value of what was once germany's most valuable listed chemical company is only around fifty seven billion euros which is pretty much exactly what buyer paid for months on tow over to the u.s. which has posted its strongest first quarter growth in four years economy expanded three point two percent far exceeding expectations and bucking a global trends of negative economic indicators the growth was dr

oil prices continue to their upward climb on tuesday after the u.s. renewed sanction threats against iranian oil buyers out one point a barrel of brant crude hit a six month high of seventy four dollars and seventy cents analysts are worried about curbing iran's oil exports will further tighten global supply at a time of political instability in several oil producing nations. twitter smashed all expectations last quarter by tripling profits the microblogging service made one hundred ninety one million dollars in the first three months of twenty nineteen compared to just sixty one million a year ago twitter chief jack dorsey credited move to weed out abusive and fake content on the site with boosting its attractiveness to advertisers. british lawmakers are back after a brief break from brags that following the easter holiday cross party talks to find consensus on britain's departure from that you have resumed although with little hope of a breakthrough meanwhile on the continent of the u.k.'s trading partners are still preparing for any possible scenar

u.s. china trade conflict drags it and the slowing chinese economy weigh heavily on the world's trade. is moving and shaking in africa again this time building and financing of course in the eye for an ivory coast's it's an obvious job. this is business africa on d.w.i. in berlin welcome the world trade organization says the world trade growth is slowing at an alarming rate political instability and the persisting trade conflict between the world's two biggest economies are taking their toll britain's increasingly counts of divorce proceedings from the e.u. make things worse than previously expected global growth could slow even more dramatically in case of a no deal bragg's it which looks increasingly likely that might be opportunities for african economies as well trade is already shaken up the world trade organization says global trade is expected to grow at a much slower pace this year and previously thought w.t. on the list help lower their growth forecast to only two point six percen

u.s. pop star is teaming up with the added us to make a line of sports apparel in us singer will be named creative partner of the german sports equipment maker. is the latest in a line of celebrities team up with our it was shares rose following the announcement. the european central bank will report. to raise fresh funds to get the go ahead for a merger with fellow german experts say the request would complete complicated at the created europe's largest bank both lenders have struggled in the aftermath of the financial crisis. the e.u. says greece has fulfilled its reforms as part of its exit from its bailout program last summer so has now approved a nine hundred seventeen million euro debt relief payment to athens and money consists mainly of e.c.b. and other eurozone central bank profits made on the greek government bonds during the bailout period. u.s. and chinese trade negotiators will continue their talks next week by video conference as they try to reach a deal to resolve the nine m

and facebook expects u.s. regulators to penalize it as much as five billion dollars for recent data scandal does that mean the impunity of tech companies in the u.s. is finally coming to an end. also on the show hundreds of tons of illegally mined gold are smuggled out of africa annually robbing countries of urgently needed revenues miners say it's their only chance for a livelihood. i'm stephen beard's in berlin thanks for joining us merger talks between germany's two largest lenders were greeted with skepticism when announced six weeks ago as well as outright opposition now those discussions between deutsche bank and combet funk officially collapse the fusion would have created the country's largest financial institution and likely bled tens of thousands of jobs the banks themselves said today that a merger would have been too costly and complex take a look berlin wanted it to happen but that wasn't enough to unite the two german giants banks said right from the beginning we would only go into these this wer

china and u.s. actions on other countries is probably going to have a much bigger impact than brics although brics it will have a very concentrated impact on the u.k. and the e.u. so you know it's. six one half dozen of the other probably a little bit worse on the global side us china in concrete times what are your findings what can we expect. well our findings are by the way generally our concern is slowing economic growth because that drives a lot of trade growth particularly investment but these trade measures that countries are taking with against one another us china for example well the uncertainty around the brics a deal also weigh on trade growth and that can affect quite a bit the bilateral relationships between countries we see a lot of trade diversion potentially occurring particularly in asia and north america and we would expect to have with a disorderly breck's it to see more trade diversion occurring around the e.u. in the u.k. so what that means is that the direct effects are offset

lines around the world u.s. aircraft make a boeing so quarterly profits full steeply as it grapples with a seven three seven months crisis the plane was grounded around the world after one ethiopian and one indonesian seventy seven months have crashed killing all on board boeing says the crisis has cost the one billion dollars so far it has now abandoned its financial four cost twenty nine thousand. japanese carmaker in the sun has issued its second profit warning saying twenty eight hundred profits will come in at two point eight billion dollars that's more than twenty percent down on its previous estimate. says it faces we can sales in the u.s. as well as corporate issues taken to mean the rest of the c.e.o. follows. japan's softbank is investing nine hundred million euros in german financial technology company y. a card for stake a five percent wildcard specializes in electronic payment services and was a rising star of germany's fin tech sector but was shaken for a while by a series of allegations about its

u.s. pop star is teaming up with the added us to make a lot of. us say no will be named creative partner of the german sports equipment maker. is the latest in a line of celebrities to team up with artist whose shares rose following the announcement. the european central bank will report. to raise fresh funds to get the go ahead for a merger with fellow german come out experts say the request would complete complicate it could create europe's third largest bank both lenders have struggles in the aftermath of the financial crisis. the e.u. says greece has fulfilled its reforms as part of its exit from its bailout program last summer so has now approved a nine hundred seventeen million euro debt relief payment to athens and money consists mainly of e.c.b. and other eurozone central bank profits they don't greek government bonds during the bailout period. u.s. and chinese trade negotiators will continue their talks next week by video conference trying to reach a deal to resolve a nine month o

u.s. to face trial which could end up implicating other senior members of mozambique spooling party. mozambique's former finance minister has been in detention since december twenty nine arrested during a stopover in south africa but a johannesburg court has decided that man will chime can be extradited to the united states the u.s. is just one jurisdiction seeking to prosecute him on fraud and money laundering charges his home country of mozambique has a warrant out to the charges relate to two billion dollars loan to government agencies from banks like credit suisse and russia is meeting people bank the money was ostensibly for new tuna fishing boats and a coastal protection system but the government has said they were used to buy military vessels instead and millions of the original luna simply disappeared was in bits and seventeen million dollars landed in china's own pocket to make matters worse the government failed to disclose these loans neither to parliament nor the international