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tv   Business - News  Deutsche Welle  December 6, 2017 12:02am-12:16am CET

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amended that german lender deutsche bank turn over data on accounts held by president trump and his family however a lawyer representing trump denies that any subpoena was issued. and that. the trump russia saga now crosses the atlantic to germany u.s. investigator robert mueller subpoena a bank to release data on accounts held by president trump over russia's influence on his election as president. also on the show the e.u. is blacklisting seventeen countries as tax havens it's supposed to be a bold move but campaigners are outraged as the list includes no e.u. members. and as brics it talks go nowhere dairy farmers in northern ireland want to know the one thing on many people's minds what good is bricks it anyway. so i'm for business on the w m how you know i guess thank you for joining us germany's biggest bank deutsche bank is being investigated over russian meddling
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in the us presidential election last year a number of media outlets are reporting that special counsel robert mueller who's leading the inquiry has asked deutscher to release data on accounts held by president trump and his family the information was demanded by subpoena after deutscher rejected requests from the us house democrats to share the data in june the bank lent the trump organization millions of dollars for real estate ventures in the past. it's a developing story and we want to add allies it with our financial correspondent on wall street called the high end good to see you now it's tell us the scope of this possible case could we also see other banks involved in a civil matter. this case is not so much about if your bank did anything wrong but rather about possible ties between donald and rusher and if you look you have the father u.s.
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banks for example could be involved similarly it's rather unlikely if you look at the past couple of years a lot of the projects for donald trump have not been really that successful so a lot of the big u.s. banks actually have shied away from doing business with donald trump a daughter bank was one of the few bigger bangs to still continue doing business with the now u.s. president now yes on the other headlines that we saw today the u.s. trade deficit has risen to its highest level in nine months and that means that the country spent a whopping forty eight billion dollars more on imports and it managed to shift in exports now that's an increase of over eight percent in a month potentially dragging down g.d.p. for the full year rising oil prices pushed the import bill higher imports from china were also in a record high the news won't go unnoticed by the u.s. president as donald trump has long blamed the country's trade deficit for the loss
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of manufacturing jobs and also moderate economic growth. back to you know we know that this is a crucial moment to see how much tantrum can actually control the u.s. monetary policy the economy and the development of the economy in general how is this going down there. the trade deficit certainly could be a drag on u.s. growth in the fourth quarter and possibly also looking ahead but we should keep in mind that this trade deficit is a very very volatile index and it's pretty likely that the trade deficit recovers a little bit now in november and also in december so we did see increase of of energy imports also partly due because energy prices were on the rise in general and when you look at exports so we had to decline in civilian aircraft exports and
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also soybeans but as i said it's a very volatile index so we have to wait and see by the way we had two consecutive quarters of g.d.p. growth of a good three percent and depending on the straight deficit we will see if that trend continues on up. on wall street thank you very much. back to europe now where enough is enough that's what europe finance ministers are saying finally taking action against tax havens like the ones exposed by the panama papers and the paradise papers the e.u. is naming and shaming seventeen countries on a new blacklist but to the dismay of transparency campaigners e.u. members like luxembourg or ireland are not among them and british overseas territories are also being spared. a tropical tax haven in the middle of grey brussels today the e.u. finance ministers singled out seventeen tax havens on a black list countries like barbados namibia and tunisia have released to help
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crack down on tax dodgers but they stop short of imposing national sanctions on them for that hopefully this will help to increase the transparency of the global tax environment. well look i want to emphasize that this is not a punitive measure but our wishes that those countries will cooperate more in the future. or stood but according to the european commission the measures against tax havens don't go far enough. from the commission point of view we could go. seen a stronger defense so or counter measures but we hope that this work will continue on the council side the ngo oxfam also criticizes the blacklist as being too short they count thirty five countries that should be blacklisted among them for countries within the european union ireland the netherlands luxembourg and malta but there's not a single e.u.
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member state on the list critics say europe should put its own house in order first . and our reporter charlot shell some pill has been covering the story for us from brussels charlotte hi good to see you not a single country is listed on this blacklist as we just saw how does the e.u. even justify that. that's quite right well the e.u. will argue that it's got its own tools for regulating tax avoidance within member states so they'll say this is something that was always planned to moderate the action of third party countries countries outside the block but certainly the fact that no e.u. countries are on either this blacklist or the so-called greylisting list of countries who are going to have to adjust their behavior has really caused a lot of anger in some circles oxfam for example as we just heard there in that report is particularly angry it publishes own report saying was this
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a blacklist all was it a whitewash its own argues that had the e.u. applied its own rules to its own member states then for european countries would be on that list including mull to luxembourg ireland and the netherlands the shoulder we're talking about there justification with the third party countries if you will let's talk about those because what does that even mean for the government of a country to be named on the black list the list is not only include just some small vacation islands but also important trading partners like say south korea that's quite right and you're picking up actually on another one of the concerns that's been raised about this and now it's meant today and that is the fact that there are currently no concrete sanctions for countries found to be in violation of rules regarding taxation that could change its there's some speculation that member states might be able to impose their own sanctions but as it stands it's only really some e.u. funding that is risk in fact
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a commissioner of attacks has criticized that saying while this is an important first step that this announcement has been made it could in fact have gone a lot further essentially it doesn't seem to have any teeth when it comes to dealing with time issues charlie chosen bill in brussels thank you very much for the analysis. on to another e.u. headache because another round of drinks of talks has failed the major hurdle this time is how the border between the republic of ireland and northern ireland will work about thirty thousand people cross the invisible border every day for work goods go back and forth without inspection after bricks at the republic of ireland would remain in the european union while northern ireland as part of the u.k. would have to exit as you can see on your screen britain may have to reintroduce a so-called hard border with customs checks for goods people and services that will be a huge worry for northern ireland's dairy farmers who depend on easy cross border trade
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. milk is northern ireland's most important agricultural product but uncertainty over what will happen when britain leaves the european union has left many farmers on edge especially those who currently trade with and travel freely to the republic of ireland which is staying in the e.u. because of the way the whole system set up there will be tariffs there traded on the european quality standards at the minute or standards won't change they'll be as high as ever they are but. those are present barriers for creating this product in the future and the fact that we don't know is the difficult part in addition agricultural products from northern ireland are heavily subsidised it remains to be seen if the support will continue after breakfast. a major industrial sector depends on. the luck patrick company purchases and processes six hundred million liters of milk from farmers on both sides of the border annually the supply
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chain is going to be massively disruptors there is going to be farmers who have no place to send their milk now because their processing unit is on the other side of the border and the processor cannot bring that cross the border because he's going to have to pay a price. in excess of fifty to seventy percent like patrick exports milk powder worldwide as well as roll milk to a baby food producer in the republic of ireland their main customer is china which insists on the e.u. quality label breck that may challenge these relationships. what is absent here is a clear vision for britain and for northern ireland in a post break that scenario can somebody somewhere stand up and tell me and tell all of the members of this society what better situation is going to
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prevail in the post breaks the scenario that currently prevents the face of northern ireland's aquaculture sector lies in the balance as farmers wait to see if a deal on the border question can be reached. that was thank you very much for joining us for the latest number you can always log on to the w dot com so you next time take care and by.
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the top stories followed across social media share your comments and content welcome to g.w. . they're black and living in germany. she's reminded what that means on a daily basis presenter john updike has nothing to to. and i'll risk. taking a holiday group and be no different than the rat. she travelled across germany to meet other black people and to hear their stories. it seems as. i grew up in a white family in a white neighborhood it was definitely a challenge. and she decided to put me up for adoption. out of. the
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main thing was to keep your head down and your mouth shut of course with the phrase like this i could never completely disappear if you see all these stereotypes about . because it's good to see you. do something for your country but you're still the black guy with an. afro germany starting december tenth d.w. . luke. luke. luke. hi and welcome to a new edition of coming up on today's show. dark the world's first
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