tv Business - News Deutsche Welle October 27, 2017 3:02am-3:16am CEST
sions between berlin and on camera. the catalonia crisis deepens another day of political mayhem which is where a home business we visit the companies caught in the crosshairs of the independent struggle and cross to our correspondent in bosler and. also coming up no surprises from the e.c.b. traders love that they also like the central banks gradual winding back of its huge quantity of program. the cuban design company looks to the u.s. to boost sales by launching the island's first online fashion. base is your business update on how at home free in berlin thanks for joining me spain is counting the cost of its dramatic political events on thursday catalonia as
president said he will not be calling a regional snap election forgoing a move that could ease tensions with madrid many companies have already moved their headquarters out of spades richest region but not every business wants to leave. a banner on the town hall of sub adele reads freedom for political prisoners this catalan city isn't just the stronghold of the region's independence movement but also its industrial heartland due to the city's wealth spain's fourth largest bank was founded here. even though the bank has now turned its back on the region most mid-sized companies are staying in catalonia. take this supermarket chain for instance right in the middle of the political crisis its management announced it would be making two hundred million euros in investment opening nearly thirty new stores creating one thousand new jobs. they want to know us and we're also building a company head office right here in the heart of catalonia we won't move our
headquarters anywhere else that will keep the wealth in jobs in our region that's exactly what we want you to find out what those that are going to think that are so many see reports of companies leaving the region is cheap propaganda that's because the major corporations and banks are effectively only changing their registrations for tax purposes plants and jobs are staying here but the political crisis is affecting many companies orders are getting cancelled foreign investors are leaving and to that the regional government in barcelona is having trouble paying its bills . messes is put on the bible and waiting six months for the authorities to pay their bills. that's heard on my company. i have to get a loan to pay my workers. and i call the authorities about the payment they say their hands are tied that any of us. companies are caught between the two sides of the
political crisis which continues to escalate. and here i asked all correspondent in a balsa and i mean it's in the head if the political this could end up hurting both the region and spain as a whole. it does hurt both sides already today the spanish minister of economy announced that growth for next year will slightly decrease due to the political instability and so we can clearly see this is not only a problem for catalan businesses actually if you take the number of cattle and businesses that have moved out of the region that's a rather small talking about one thousand compared to over half a million companies which are basically the backbone of the spanish in dust industry really here and that's an interesting point that you make because headlines have been saying for weeks now that big companies have been leaving catalonia in drives is that really the case. so from
my point of view you have to definitely differentiate between the big multinational companies specially those who are registered on the stock markets they want to be on the safe side so they have moved their fiscal address out of catalonia somewhere else on the peninsula but then looking at medium size and a lot of them actually are family companies here in catalonia they are deeply rooted in the region they have a production here they people are working here and if you take for example the famous cattle wine maker frazier nabbed a conscious move there when you're somewhere else in spain so mostly at the moment it's being used as an argument from both sides really and probably will go go on being used from both sides as a political pressure. and hanna our correspondent in barcelona thanks for your reporting. the boss of deutsche of cost and can get to is stepping down
by the end of the year and he's c.e.o. of the company that operates the frankfurt stock exchange he came under fire for buying four and a half million euros of shares in his own company before announcing it was looking at merging with london the stock exchange now that sent. the merger never actually happened but can get to is being investigated the company denying its chief executive did anything wrong. these e bay has announced a gradual withdrawal from post crisis stimulus its halting its bond purchase program from sixty billion euros a month to thirty billion euros from the start of next year interest rates will stay where they all go down at historic lows. no surprise in store for the markets despite having its massive bond buying program european central bank is carrying on with the quantitative easing two days monetary policy decisions were taken to preserve the very favorable for nancy conditions that are still needed for
a sustained return of inflation rates to worst levels. but close to two percent it's a balancing act inflation levels are still below. two percent target rate while economic growth in the eurozone continues to be solid an ongoing dilemma the central bank has to deal with as a non-problem buying program was started to fight the threat of deflation effect we definitely don't have a risk of deflation it but we also don't have inflation that's what makes it so hard for dragging on the e.c.b. . another challenge the e.c.b. president still feels that european leaders have to do more to reform their economies to bolster long term growth and stability. the implementation of structural reforms in all you are can trees needs to be substantially stepped up to increase resilience reduce structural unemployment in your area
productivity and growth potential the e.c.b. says it may continue its stimulus program beyond twenty team if necessary. time to check in with wall street our financial correspondent yens quarter is with us in new york yes those third quarter earnings keep coming in twitter for once looks like it might turn a profit but it's not all good news that is it well twitter actually announced that for the past three years they overstated some of the numbers for the monthly you their growth but here on wall street people are not interested in the past they're looking at the future so the news that they overstated the numbers did not play a big role here quite the contrary the stock gained by a good eighteen and a half per cent and what wall street is focusing on is that for the first time since search witter went public about four years ago in this current quarter now
actually twitter might report a profit and they tried to achieve that with personalizing the feed so much for more was algorithms with artificial intelligence and that seems to attract a you there's the overall figure for monthly users stands at about three hundred thirty million we're talking about those quarterly numbers then who else has been reporting. well overall the numbers we got on thursday were better than expected we had for example forthcoming al gore's numbers the second biggest car manufacturer in the united states they it's cheaper to increase prices especially for pickup trucks and that gave them a profit boost of a good sixty percent so that stock traded to the upside but talking about yesterday's news center morris news well after hours we got numbers from amazon and from the google mother alphabet both companies beating analyst
expectations easy leave and both stocks see a big boost in an initial after our reaction bostock so from amazon and from alphabet surpassing the one thousand dollars mark per share so that could be a promising sign for spectro it as stock trading on friday all right again quarter in new york thanks for that. u.s. president donald trump has said they may change policy on cuba by introducing more restrictions not good news for businesses here's how one company is preparing the changes and u.s. policy. the designs in the store in old havana may be ninety nine percent cuban but most of his customers are foreigners klunder stina is one of the many private cuban businesses that have benefited from the easing of u.s. trade restrictions in twenty fourteen but now u.s. president trump wants tougher policies towards cuba to offset any potential decline in business qantas tina is launching an online store in the u.s.
making it the first cuban fashion brand to do so. i hope that this project really moves forward because that would mean that it's possible and that many other people can do it that many cuban designers can do it which is also a bit of a vision to try to put cuban design in the global focus of design. new focal in this a new kind of stina up cycles t. shirts and other materials to create designs so the business represents more than just a source of money for its founder one of the founders has banished citizenship that allows the company to circumvent them bar go that applies to cuban businesses in the u.s. and there have been a store more than half of the customers are from the u.s. . we don't get a lot of news about what's going on really especially in the creative field like design and i was thinking in fashion that. i think it could be really successful
because it's really you know the design is really interesting where our original whether the u.s. reintroduces restrictions or not cuban entrepreneur is will continue to look for clever ways to sell their products in the u.s. . that's the latest from the world of business for more find us on twitter on the school business but for now.
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