tv Business - News Deutsche Welle October 27, 2017 3:15pm-3:31pm CEST
it's one of the country's worst industrial accidents. undermined by top story of this out of spain's prime minister mario on of the point he's asked the country's senate to override his government's plans to impose direct rule on catalonia meanwhile second system cattle on parliament called on regional lawmakers to defy supply spain and declare independence. at the top of the allen data and the rest of the days that world news of ben presumable have your business update in just a. new on d w make graves famous stars emmy and now. the d.j.'s came in vegas house of music. close to me they. love
you and unplugged. every night groups starting november third one t.w. . when cities are ingolf by the sea and all the dams wally's and costly protective measures will has been. nothing. once. you're starting november night on g.w. . the world's biggest comic up pays dealy for its emissions cheating scandal reports a massive drop in profits and struggles with its reputation in the u.s. . and the end of an era almost four decades after read by the ins first take off
its. final landing today in the german capital. i've been to school and let's do business v.w. profits collapsed last quarter net profits were down over fifty three percent to a little above a billion euros that's true in part to higher than expected costs from the diesel scandal the german car maker is paying to refit hundreds of thousands of cars rigged to cheat on a mission states. needs to come up with a strategy to ensure its vehicles remain competitive especially in the u.s. we use rachel stewart reports. in a quiet corner of baltimore port thousands of folks back in cars are sitting idle it's a kind of car purgatory will they ever make it back onto the road or are they destined for the scrappy. nearly half a million cars were affected by the diesel gate scandal in the u.s. the disgraced models have landed in sites like this across the country gathering
dust while the company works out what to do with them. in july the u.s. government approved a fix for many of these cars but would customers be willing to give these diesels a second chance oh no never i wouldn't even consider buying a boat in period i mean if there are facts and i could be assured that there are facts i'm not sure about buying a diesel car in general but that's how i feel that's just like fake lead data and you can't really get away with that so i wouldn't really trust i would trust. the bill for clearing up after diesel gate is already pushing thirty billion dollars mounting costs are taking their toll on v.w. with the company returning lower than expected third quarter results folks were going to north american group declined an interview but told the w. our top priority is to make the settlement process a seamless and convenient as possible we are working hard and dedicating substantial resources to make sure this is the case. but how is this affecting the
company's ability to focus on the future and many manufacturers are investing huge amounts in emerging technologies such as automation and electric vehicles competition from silicon valley companies like tesla and google means traditional car makers are under pressure to keep up. china is going to have all electric cars produced by twenty forty. by twenty thirty they clearly want to have only electric cars so in europe there are really good incentives right if they want to survive they have to follow these technologies. part of the v.w. diesel great settlement did include a commitment to invest in zero emissions technology and the funding of environmental projects but for now a top priority for v.w. will be to get cars like these ones in baltimore fixed and back on sale the diesel gate affair has certainly been costly for folks and these clusters of car standing silent around the country are
a sore reminder of that but the company has said that it still sees the u.s. as a core market despite currently flagging up below two percent of market share it will be some time before we can see whether v.w. really can bounce back and of its ambitions to become a true contender on this side of the atlantic can be realized. back to this side in the view from frankfurt where daniel corp is standing by for us daniel the total v.w. is now are set aside is over twenty five billion euros that's going to. yes a lot of money that they have spent so far because of all this these are the gate scandal and we are now hearing that they're going to put another two point five billion euros on the side because we had a statement a little bit earlier they are just worried at the moment that they're going to be even more lawsuits mostly coming from the united states we just heard in the report were diesel cars have been extremely popular lately but i can tell you also from
the frankfurt perspective that in general even though we are also seeing that the overall sales number of volkswagen have been dropping from seventy seven billion euros to fifty eight billion euros investors here are still a very optimistic the share price of volkswagen is one of the biggest winners today even hitting and nine months high here today at the frankfurt stock exchange well i guess a reason for that is the fact that their performance is broadly stronger if you take the costs of diesel great out of the equation. yet some also mostly because when you look at the other countries where of course volkswagen is you know also doing business china for example a very growing market for the company at the moment so in general that's what's making investors very positive for the next six months don't you call in frankfurt thank you. green vehicles and concept cars are taking center stage at the tokyo
motor show it's opened its doors to the public today japanese manufacturers under pressure from row rivals from abroad when it comes to the future of mobility they're also struggling to rekindle a youthful passion for cars. the races on for paul position of the tokyo motor show. really from more imaginings of old classics. to concept cars seemingly borrowed from the highways of tomorrow japanese cars. producers are showing off their latest and greatest in tokyo. at the forefront this year electric cars hydrogen fuel cells and other environmentally friendly technologies. manufacturers here are hoping the zero emission vehicles will help them being ground in the face of wind domestic interest and stiff pressure from abroad. the japanese used to be technology leaders but really what they're finding is that
they like all global makers are being pressured by newcomers not only from silicon valley but from china so they really have to up their game and they're stepping into technology areas where they don't have a lot of expertise. and that means one thing you know vision is key and while car makers here might not be able to step on the gas they're driving full speed ahead into an emission free future. of a two hour asia correspondent andrea hang where do the japanese stand in the global auto sector well at the moment japanese automakers i think the general view is that they're still the economical vehicle of choice in terms of cost efficiency but it does feel the japanese auto industry does feel the pressure is as it is a clip mentioned earlier from rising only because in china as well as india for that matter as well what are the chances of turning into
a new generation that's not as interested in owning a car. well that's an excellent question ben and i think this is where the potential for the electric vehicle or easy market tends to win the larger population of man from the from this generation which seems to save social causes now japanese that this is where the japanese auto industry is lacking in terms of innovative competitiveness it's simply lost very briefly a motor shows soon going to become a thing of the past. it may or may not being but i think what's going to happen is they're going to downscale you want to show us but at the end of that the despite the digital age making everything convenient to us information available to us and you know that the people still want to touch and feel because it's a time experience for us in singapore thank you. well on its final day of business the bankrupt carrier air berlin has achieved what it really
could in its prime sell tickets at a price high enough to make a profit the airline's last flight is to depart munich tonight it's been sold out for weeks with some seats going for six times the usual fare it will be an emotional goodbye germany's largest airline look fans will take over the lion's share of air berlin assets the rest could go to easyjet or condo. time to take a look back at a company that started small and try to get too big according to many it all began in one thousand nine hundred seventy eight air berlin usa was born a chance to align with two planes and seventy eight employees the first flight to tourist from berlin to majorca it was known for flying to the warmer parts of europe in the mediterranean. in one thousand nine hundred ninety eight the holiday charter airline when air transport business offering more destinations as
a result by two thousand and three billion was the second largest carrier in germany. three years later it went public on the frankfurt stock exchange valued at more than five hundred million euros and was growing with acquisitions that include a german leisure airline l t u but the airline has been in the bed since two thousand and eight as a result the former c.e.o. and founder your hunan stepped down in two thousand and eleven in the sign me of the new chairman hotman mandel and signed a groundbreaking deal with gulf had one of the leading carriers in the middle east and became the largest shareholder of a berlin. it's a milestone in the history of air travel in history. with the deal air berlin joined alan alliance one world but business didn't improve despite cost saving measures and restructuring in twenty fifteen posted
a record loss of four hundred fifty million euros the main shareholder if he had once again came to the rescue but to no avail eberling was making headlines for the wrong reasons cancelled flights lost luggage passengers even had to pay for water on board customer confidence was dwindling. after negotiations which rivals considered on the fair enough tonnes of acquired eighty one machines and routes from lynn the result is that many flights within germany are only offered by one carrier many passengers now feel that prices may rise with the demise of it. nice doing business with here.
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