tv Business - News Deutsche Welle January 25, 2018 4:02am-4:16am CET
european leaders take this center stage on the second day of the world economic forum in davos switzerland the king of spain called for european unity and cast his vote for free trade and an open european economy. and of the forum is about the future well let the youth have a say we'll take a look at w.t.f. participants thirty and under. it's time for business on d.w. and how you know to get us welcome on the second day of the world economic forum europe was in the spotlight the leaders like angela merkel in madrid mccall and the king of spain addressed the davos crew and made it clear that a challenging times for the e.u. there's still a common base. european heads of government were met by bright sunshine in davos on wednesday it seemed to underline their optimism they say europe has recovered from its economic crisis and is doing well germany france italy and spain are united in their push for globalization and against protectionism. we believe
we have to cooperate and that protectionism is not the right answer. and we believe that if we share the opinion that things are not being done fairly and the mechanisms aren't reciprocal then we should look for motive that are a solutions and not unilaterally on its. own this when you look at the. chancellor merkel's italian counterpart teligent alone use even more explicit about u.s. president donald trump's policies i could say italy first why not but at the end of the day what we need is if we have if we want to have taken on the growth and welfare and protection for our workers what we need here is an economic environment really function those will have but for gentle loney that means open markets free trade and no protectionism.
a lot of people in davos are really interested to see how donald trump responds to such straightforward remarks in his own address on friday. and another remarkable speech today was by french president emmanuel mccormack france is back was his message putting his country first but only together with his european allies just after the speech our correspondent in davos just of corba caught up with vanna horia president of the european investment bank and asked him for his reaction. i'm still more than impressed i know him and i call him from former times long long before he was a minister and i must say the way he developed over a month from all of a sudden the french leader then after a couple of months the european leader and now he has brought himself in the position of the global leader it's amazing and it's very very encouraging for europe all in all this was a very good day for europe anyway we saw amount of my call saying francis back he
wanted to promote business obviously but he also wanted europe to move forward with a set of reforms which one was the most striking to you both i mean the announcement from his back was very credible but at the same time he could have said also europe is back because i go back to the last ten or so davos meetings where the rest of the world looks a little bit of the sympathy on those poor europeans because they couldn't get their act together and this is the first time that we are here in davos and the europeans are really having a good show earlier today earlier on wednesday the german chancellor spoke as well calling for more multilateralism more call operation working together how does this fit in with him on of them across the two european leaders that are being watched most in these days that fits perfectly and that is necessary because we see that we are challenged by the big power poles in this world than as states and china and if the europeans do not respond to that with
a common common voice then we will get lost in the globalization and this new approach towards an active globalization policy expressed both by. him and i'm a call was what we really need now the majority of the topics at the world economic forum are related to the future so it makes sense to invite young people to take part in davos so called global shapers aged thirty and under participate in discussions about all sorts of topics including the future of europe. a brief moment to enjoy the view and then off she goes to the next appointment twenty four year old italian team is in davos to take part in discussions as is and transcribe a twenty six year old tech entrepreneur from germany thirty year old greek. is currently debating the rejuvenation of europe. i expect from you. a shared responsibility. to allow the youth
assists and think its future to hear the voice of fuel and to go through their election. for a better tomorrow for all of us more in that it more together and more creative. all three are passionate europeans. we have common values. that make theme that we are you know i'm unique relation are part of having different languages or really. we harbor a place where we have peace is important and human rights are respected. but there could be a big a shared sense of europe. i believe we could have a stronger sense of belonging in europe like what you have in the us when i lived many people had a much stronger connection to their country and that's not something we have in
europe even less so in germany i believe the sense of feeling european isn't really there. and the future of europe. may be different cultures should be taken more into account because greek has a specific certains history culture it's a different from the italians from the. swedish people so. her chair around the difference this should be taken into account in decision making process and should be respected. as a debate in europe goes on and these young people here to contribute to it. to corporate news now and us chip making giant qualcomm will have to pay close to a billion euros an anti-trust penalties to the european union the e.u.'s competition commission or m i got into fest august said qualcomm paid apple to use
its chips exclusively in its i phones and i pads that means the company illegally excluded rivals from the market for l.t.e. baseband chipsets for at least five years ensuring its own market dots. and more troubles at general electric ahead it posted a whopping ten billion dollar loss in a five percent decline in revenue last quarter the poor performance was driven by a fifteen billion dollars charge g.e. took to cover miscalculations made by an insurance you announced that last week the u.s. securities and exchange commission is investigating the error that leaves shareholders to fret even more about the massive corporation already facing severe challenges in its power capital and transportation divisions. wonder discuss these two topics with our financial correspondent on wall street yes good to see you going to start with general electric we know restructuring is always difficult but this sounds all
really really bad does anyone still believe in the future of g.e. . it is incredible what happened to the former giant in the past couple of years the loss of the nine point six billion dollars just in the. water and the new c.e.o. john fletcher we he admitted that it will take time to fix a general electric they will for course a bit more on the health care industry on the aviation business but it is going to take time and if we saw what for example have been to the power business of g.e. a profit drop of eighty eight percent meant the stock once again was by far the biggest loser in the dull jones industrial average and also the question is what did the board members do all year around so we can expect some changes there as well so a lot of work ahead for general electric i know you had some talk about the other headline we had the qualcomm fined by the european union how big
a hit will this be for the company because it seems nowadays that every processor and the biggest smartphones is from them. and that's interesting part let's say that qualcomm did not pay other company. makers of smartphones and such as they also use the technology from call they have a very strong market position and it's not uncommon that. start to investigate or come up with charges if a company like quiet calm has such power in the market but qualcomm itself said that they might be going into appealed so the last word is not spoken and then also the penalty even could have been higher soul at least investors on wall street who are not too concerned and we only saw a small drop in the stock price of qualcomm here on wednesday thank you very much scott in new york. and before we go you know the old problem with big
infrastructure projects like roads or train station they're almost never finished on time here in berlin we've been waiting for an airport for twelve years well that doesn't happen in china apparently where a rail track was built overnight take a look at this. at six thirty pm construction began. fifteen hundred workers with twenty three decus what nonstop throughout the night laying trucks and installing signals. but we divided the workers into units little seven groups what's on different tossed simle tamia slade until a section was complete in just less than nine hours it's part of a two hundred fifty kilometer greet that will connect the south east of the country with central china it should be in operation by the end of the good. well call that teamwork and speaking of teams we have a big one in davos covering all things world economic forum for you so stay tuned
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