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tv   Business - News  Deutsche Welle  October 5, 2017 1:15pm-1:31pm CEST

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all the latest news from around the world as well as push notifications for any breaking news and you can also use that to send us your photos and your videos. now wine lovers watch out there's a twenty percent drop in wine production this year more on how the industry is coping coming up with. on freedom and home. where i come from the region is rich in history. but so poor in education opportunity and freedom this makes it especially difficult for independent journalists i see many of the younger promising generative now
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making names for themselves all over the road. some might get along the way some might follow some with continue. the experience of freedom in a sense is like the experience of the day you can visit but your car coming back from. mining your favorite food and i work at. the odd world is gathering in london where the world's top art galleries exhibit their offerings in contemporary art. sent by us this year female and minority artists seem to be the investment of choice for those with some significant loose change to spend. and european vignettes are sounding the alarm harvest down by
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twenty percent how the wine industry is coping with this year's adverse weather conditions. welcome as this is g.w. business first look to spain where stocks of taken a hit yesterday by the council and crisis especially banks were affected and they dragged spain's main stock index ibex down with them it dropped to enough percent today index we call that slightly also today the spanish government has oaks and government bonds was some five billion euros to check how that auction went and spoke to our financial correspondent ali ponce in frankfurt a little earlier. well first painted fun to relatively well i talked to a trader who trades bonds here on the frankfurt floor and he said that they got what they wanted in volume not just with the five year bond you just spoke of but they also auction off a million euros a little bit over a million euros in a ten year paper and the yield for that that is the interest that came out for the
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investors expressed with the term yield was one point eight six percent that's half a percentage point more than the last auction so there you can see that spain is paying more for ten year paper and for five year paper and the interest rate is hold onto your hat zero point five three percent that's less than one percent that's about half a percent and that's also more than at the last auction when they paid practically nothing and these low numbers they can be explained mostly i think not by the risk assessment of the markets but if there wasn't the e.c.b. and the background gobbling up paper all over the market also spanish paper with their bond buying program meant to pick off growth in the euro zone then of course we'd be seeing much different interest rates here just across the border in france it looks like the government that was playing matchmaker in the banking sector what are you hearing that. that's right in a french paper that investigative claims that money when my call is all four
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billion huge bank very profitable high market valuation linking up with the come out spunk that's germany second largest bank and its market valuation is not high it's struggling that's making profit but not very much in the german government rescued two thousand and eight and the saying is that would like to see the unpaid take over the government stake the german government's stake come out spunk of course is going up a little on this news and it's gone up in the year over merger talk the market is high on this news of course all of this is not yet official we may be hearing more about that and he was telling us about it thank you very much so we bought something from right. in the us the senate has paved the way for autonomy is driving the representatives voted unanimously to enshrine rules for tamas vehicles
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in federal law that will help comic is like general motors ford and google's parent company alphabet to bring eighty thousand self driving cars onto american roads if they pass safety tests the senate as a whole still has to vote on the proposal before it'll be sent to the u.s. president to be signed into law. earlier this year apple supplier foxconn from taiwan said it planned to build a ten billion dollars factory in the united states but it didn't say exactly where but now the company has revealed its chosen mount pleasant in southeastern wisconsin it's a rural area for now but it's close to both milwaukee and chicago the state promised three billion dollars in incentives for plant which will make flat screen displays foxconn is best known for building apple's i phone but faced criticism for its use of low wage factories in china. european wine production is down and
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germany alone produces well bottle twenty percent less compared to last year due to unfavorable weather do not despair even though the vendors will most likely be of superior quality your favorite riesling bordeaux well not get more expensive next year and here's why most of this year's crop was harvested especially early late frost summer hail storms and foggy days are all to blame wine producers say climate change is a growing factor. climate change and extreme weather mean different conditions in individual growing areas a twenty percent drop across germany doesn't mean every produce it was down twenty percent between when you take your one infant winter sheepish we're talking but the three largest wine producing areas in the country right has the plot in eight and boston each saw drops about twenty percent from the year before the few gains came mostly from the east. germany's numbers are comparable to overall declines across europe italy and france are also reporting much lower graveyards yet there is good
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news the quality of this year's grapes is better thanks in part to late september sunshine what does it all mean for consumers the price of riesling could rise but wine producers could also take a hit for the anthem between it was a big challenge for individual produces they'll lose money no question because international competition is too fierce for them to raise prices accordingly and that's not of it perhaps their courses quality will have to make up for the difference. we'll see can wine buff's be looking forward to an exceptional vintage and how is the industry coping imo joined by nina kaplan she's a wine right and joins us now from london enough we've heard about the situation in germany in our report what are you hearing from vineyards in other parts of europe . unfortunately a very very similar new. spain is down interleaved down i'm usually only had
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crossed in april all ahead of that and it's you know that's that's that's highly unusual and obviously not good news for grapes which at that point in their infancy and france you know neck of the line of business is also had problems. german line is apparently not getting more expensive as we've just heard what about french one. strangely and i think it will really depend i mean when you when you talk about why prices there are sort of there and sort of preached to trash is really there is that the bottom end and the bottom end is about mass production and having lots and they will still have lots and in an area like none we don't really see our is down six percent it's not it's not a comparable to an area like boulder for example where they're saying they're had their worst harvest in terms of quantity. since the end of world war two. so there
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will there will be there will be wine for the entry level drink. and at the top end there will be wine and it will be expensive but that's nothing new as usual with these things it's the squeezed middle it gets squeezed in terms of produces and in terms of drink it's talking about produces enough power small growers. how are they coping with this. well i think this will be difficult for them but again it will depend on on quality because a small growth doesn't have very much wind to sell it is obviously is going to have to go prices up a little bit in order to in order to break even so it's going to be a careful balancing act i think between not alienating drink as you don't want to pay more phone lines and not sending themselves into into bankruptcy but it is worth remembering that wine is is is there any i mean there are some places where
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they will they will be selling their twenty seventeen vintage very rapidly but they're out there also places where those winds will will be will be waiting and we're early and into jazz which have had a happy levels of quantity will be will be on the market first so this is not an immediate problem necessarily mean a cup and then a wine writer from london thank you very much. so if you think an investment in fine wine is not for you then maybe have a look at all well head to london this week as the annual freeze opens that this year some one hundred sixty galleries from all over the world will exhibit representing more than one thousand dollars every year you can expect some expensive sales but paint is. looking at the next big thing this year female artists and those from minorities attracting investors interests for jeff koons has the world in his hands his works earn more money than those of any living
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artist one sold for nearly sixty million dollars a reflection of the arc world's willingness to spend other established artists have also seen auction prices grow works by american sculptor nick cave have been fetching well over one hundred thousand dollars. finding buyers for artists is what freeze is all about and while there is always an appetite for the big names buyers are also looking for up and coming artists whose works can quickly gain in value in today's market. this is an extremely important moment commercially for the galleries and it's a moment where the whole of the world comes to london and a few summer sales taken place over the next day from the same millions of pounds range to you know the sort of much lower price range. organizers say it's time buyers looked at minority and women artists like poland's natalia l l they say these works are undervalued even as critics call them more relevant than ever. the
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mainstream all world is seriously looking black artists at female artists perhaps now more than ever because if we look at what's going on politically this is the strongest voice talking about sex and talking about politics. friezes showcasing artists like sculptor melvin edwards whose work suggests the brutality of the african-american experience so perhaps buyers willing to invest millions in the likes of jeff koons will take another look at works like his. and that's it for me of the business team here in berlin monica jones will have an update for you in the next hour in the meantime check out the twitter and facebook feed for you go here's a look at global markets at this hour but. she
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took a big risk and paid a heavy price for it you know gary and war correspondent done. in a basement in aleppo syria and she found bunk area and made weapons hasn't been supplying to islamic stainton she wrote a new story about it and lost her job she was questioned by hall garion security
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officials and now she's fighting for head generalistic credibility. next d.w. . entered the conflict zone with tim sebastian you is getting increasingly fed up with hungary which refusal to take a share of by groups of refugees from the home of rauf to new regulations laws marker syria's border first is all time colebatch the prime minister's international spokesman how long is his government thank you for writing the bad boy in brussels for in sixty minutes b.t.w. . top stories followed across social media share your comments and content welcome. when i'm traveling like to be comfortable. but i also want to stay up to date on the latest news
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