tv Business - News Deutsche Welle January 14, 2019 6:15pm-6:30pm CET
the u.s. ambassador to germany raises eyebrows again this time with a series of warnings to businesses. and business updates and just about i'll be back at the top of the hour with more off a day so world news of course gets available around the clock on the website a state. of the. slip. carefully. is so. nice to do.
discover who. subscribe to. documentary. you know. politics and business the beethoven north stream. the u.s. ambassador's germany threatens european companies with sanctions over the russian pipeline. to the british prime minister warns of brigs at peril ahead of tomorrow's key vote u.k.'s financial sector is already in trouble. and the engine of the world economy runs low on china surprises investors with a big drop in trade. let's do business
washington's ambassador to berlin has issued a stark warning to german companies over a controversial pipeline its supply russian gas directly to germany bypassing eastern europe richard grenell reportedly wrote to several companies involved in the construction of the north stream to pipeline reminding them of u.s. sanctions on the russian energy sector but also criticized the project on social media the us has long opposed an old stream claiming it undermines european security. threat of sanctions as the media listening closely but what about all the companies that are already deeply involved in this huge european project like it's full run a north stream one the new pipeline will supply europe with gas right from russia directly to germany around a third has been built and it's focused to be up and running by the end of the year russian gas corp gas from is a key contributor with several european companies at least two german firms receive
the ambassador's letter of interest ha which is based or owned by b.s.a. if and you took her offshoot of german energy company on it also involved is france's n g and british company world of shell as well as austria's m.v. so far none of the companies has responded to the threat the u.s. is not an important market for. the same can't be said for the parent company of interest. b a s f the chemicals company employs over eighteen thousand people in north america and rakes in fifteen billion euros annually the company refuses to comment on the later well here's what some of germany's political leaders think about the contentious energy project. this is on the one hand you must say that it's a form of diplomacy did that is unusual but not totally new we experienced this when he took office and the german economy has already given a clear answer. mr grinnell's recent comments are indeed rather unusual for
diplomatic custom. i assume he will turn this into a positive. it is good. there are good reasons to criticize nord stream too and to look at it critically of the kind of on the other hand it can't be that mr grinnell operates as a mouthpiece for one of mr trump's political agendas instead he should restrict himself to maintaining diplomatic conventions but he's had a problem with this since his arrival in germany and in some there has mr grinnell doesn't otherwise a tear to diplomatic conventions and that's why it is not really surprising and i think this must be rejected even if it really is possible to debate the content we also believe that not stream to is not useful and energy policy and it isn't acceptable in few of our is in european partners. a survey by the british business lobby group c.b.i. shows demand for britain's financial services sector has dropped for the first time
in five years uncertainty over briggs have cited as the reason only last week the head of the city of london corporation which runs london's financial district said a no deal breaks it could spot chaos in the stock markets and cost london up to twelve thousand jobs another survey from the young consultancy known as y. as money managers are planning to move one trillion dollars worth of assets from the u.k. to other parts of europe. headed to bars parliamentary vote on the deal my colleague spoke to stephen phipps and c.e.o. of the british benefactors organization if ifs and said he doesn't see any dull term advantage in britain leaving. in fact we've been pressing the government on on two issues one is a long term future arrangements with the e.u. must be one with frictionless trade we spent forty years integrating our supply chains together and it's very difficult to try and change course very quickly with the investments we've got so we really need to see
a comprehensive agreement that maintains those frictions borders and secondly in common with many other sectors no deal with be a disaster for you can manufacturing we're just not ready to exit on the twenty ninth of march with no arrangements in place particularly around the borders in the exchange of goods and the free movement of people that's absolutely critical for the manufacturing sector in this country so you're having industry lobby organization people like you or the c.b.i. have used their influence to stop break that altogether or at least get a deal that's actually good for the project on me and goes through parliament do you think you've done enough well we work very closely with government and i must say we've spent many many months together with the c.v. i actually we're part of a group that actually meets every week with ministers describing to them in great detail what is required to make sure our businesses can sustain that position going forward a lot of our points have been reflected in the agreements that have been negotiated
so far so we are pressing very hard for parliament to approve the deal the trees amazed actually negotiated with the commission because it sets forward a sensible transition period during which we can adapt to changes are you happy with that either that or that's on the table right now and it's not it's not perfect in some respects but it does give us a transition period it gives us time to negotiate and where you mind is only the exit from the e.u. and it gives us time then to negotiate what this comprehensive new free trade deal will be between the you can the year what's your main concern about tomorrow's vote is it in order to break that. they are no deal breakers it would be a disaster now main worry is that we've been out in the press we've been speaking very publicly over the last few weeks together with many other organizations that we are a not ready for it and b. the level of integration particularly around manufacturers and bear in mind we've got two point seven million people employed in the manufacturing sector in this country has been one this really difficult one around very quickly so that would
cause them here typically we think very briefly what's your prediction for tomorrow's vote it's very hard to predict politics in the u.k. at the moment i hope i hope really that promises they can get through if it doesn't i hope that they can convince m.p.'s in a second vote perhaps to get it through but really we need to get to a resolution very quickly because this uncertainty is causing as we know lots of issues like lack of investment and difficulty with customers and we need to resolve as ricky as we can. see of british manufacturers organization thank you very much for joining us on. thank you thank you. and we'll be following that vote live for you tomorrow of course but otherwise today it's been a glum day for global stocks a shock drop in chinese exports has reignited fears of a global economic slowdown and china's trade surplus with the u.s. is widened it's a major source of anger for president donald trump. once upon
a time china's economic performance wasn't global news those days are well and truly gone whether it's consumers losing their appetite for i phones or turning away from luxury brands what happens in china now happens to the world. there are two reasons the countries trade figures are having an impact on the markets the first is that they offer an insight into the overall pace of economic growth and a second is that they reveal the state of trade ties with the united states. in the month of december chinese exports unexpectedly dropped by four point four percent compared to the year before analysts are interpret this as a delayed impact of the billions of dollars worth of tariffs the united states imposed last year but imports were also down by well over seven per cent. taken together these figures are fueling concerns that chinese growth could slow down
even further this year there are domestic causes for this like falling car sales and a sluggish housing market. but without naming the u.s. directly beijing made it clear where it believes the gracious wisc law is. in twenty nineteen the biggest worry for china's foreign trade is still the complex and grim xterm the environment. uncertain that unstable factors are still numerous protectionism and you know lateralus them from certain countries are rearing their heads the growth of the global economy may slow some international trade and investment may drag. last week u.s. and chinese officials met with the aim of resolving their trade dispute concessions were made but a deal wasn't struck if that remains the case washington will impose a further set of tariffs on china in march after all despite december surprise drop
in exports china's trade surplus with the u.s. still has her record high in twenty eight. u.s. tariffs putting a damper on this year's detroit. it's one of the oldest of its kind but some of the big giving. detroit's auto show hasn't lost all its glamour but it's certainly not the event it once was an extra six premium luxury model. g.m. chose to unveil its new cars like s.u.v. but many other luxury car makers including b.m.w. and mercedes are giving the event a miss this year. this says the global car market contracts and uncertainty grows over the threat of u.s. tariffs. and the transition in the industry we've had a great run of strong car sales over the last decade or so we're probably going to have a dip in the next couple of years at the same time the auto companies are have to
focus on today's business to generate profits so they can finance a future that's going to be very different from speaking of the future one major carmaker that is making an appearance in detroit this year it's fox it's expected to announce new alliance with us also giant for it at a time of heightened transatlantic tension that bond could be politically as well as economically strategic. ties to business with you.
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