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tv   Business  Deutsche Welle  July 9, 2019 3:45pm-4:00pm CEST

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in california feeling the pinch. welcome to the view of business as this german economy minister is on a trade trip to the u.s. sees criticize the main tech firms for the market dominance and wants germany to catch up with the u.s. and china in artificial intelligence yeah. but i'm wary about reporting yes it's germany's minister for economic affairs is getting a free ride in san francisco peter out my is visiting zeus start up that develop software for thomas driving a few clicks on the soup step and moments later the minister is off for a test drive in one of the start up self driving prototypes but for now he's taken the backseat to employees keep a watchful eye safety 1st of course just 20 short minutes later my hour reemergence and is impressed. that was the 1st time in my life that i was driving fully autonomous li through
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a city but it was really impressive what technology is capable of artificial intelligence and modern sensor technology which a lot of was actually researched and developed in germany i firmly believe that this technology will make tremendous progress in the near future and that's why it is important that germany states positioned in the front of these developments minister of my is visiting soups and handful of other companies in the san francisco area with a clear goal in mind he's looking for inspiration and input in science his focus the speed of innovation in the digital world the impact of artificial intelligence the digital revolutions potential pitfalls and new opportunities for germany. next stop for pete all my air a working lunch with a group of german high tech entrepreneurs with experts on artificial intelligence net into troll t. and on the few. technology and society. tell me what we can do better where most
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germany still and the minister demands to know from the. former employee entrepreneur has some advice. i think that politicians have to do more what mr is doing here right now if you look at universities in germany you will find this a lot of entrepreneurial excitement among young people after all that input one can visit silicon valley without a quick stop at google a private tour for mr altmire afterwards a quick statement from the press. there is a lot of movement in the digital world with a lot of competition that has an impact not only on technological progress but also on creating new and preserving old jobs as well but it is our goal that germany is on the forefront of all of this germany it seems like it's still a long way to go in that regard. to after all its ways visiting and.
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own way to go for germany artificial intelligence clearly the most important field web germany is dramatically lagging notably china and our resident china watch a clip of is with me in the studio cliff for so long the narrative was that china is lagging europe and the u.s. in all in all fields how high tech really not that seems to change what happened i think we have to forget about a lot of our preconceptions about china and technology for many years it was low and manufacturing and then other countries got cheaper so china is now thinking about how it can advance and it's focusing very much on innovation and it needs a domestic homegrown technology it spent 300000000000 dollars last year importing microchips which is more than spent on importing oil and it wants to do it itself so it's a new approach now by china government in china is boosting its specially artificial intelligence what exactly are they doing and could that be a model for european companies. it could be a model in some ways there's
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a lot of state support and that's one thing that is more problematic in europe previously. a lot of it is used for security which may not be an ideal model for many european governments as well but at the same time there's a sort of a flexibility and there's an energy about the innovation sector in china and the way the tracks venture capital and the way money is invested that is definitely something that we could probably learn here in europe there are also challenges though that john is facing. i would rather well there is we've seen the the trade war is probably the chief on some of its national champions in terms of technological advance like wow way are under a lot of pressure now from the u.s. there's a lot of pressure on intellectual property and about where china is getting its ideas from i think china likes to absorb ideas that there is copying going on but it certainly picks up these ideas and runs with them and comes up with new ideas but in order to keep doing that and keep that innovation going it's going to have
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to really foster creativity on the ground in china very briefly worked in germany especially due to not no longer large behind well i think germany can can certainly learn a lot it's cooperating in things like although most of ai for example i think germany has to be careful that it protects its ideas but it can also it can again learn from this flexibility and the big market of course in china where it can try at these ideas cliff athena thank you very much. for chinese steel products have come under fire again after the u.s. launched fresh tirades against the country on monday steel from mexico is also affected washington justified the move by claiming the 2 countries are helping them manufacturers' with unfair subsidies a decision comes amid ongoing tensions between beijing and the united states on 2 months off the us president trump agreed to lift steel tariffs against us.
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to some of the other business stories making headlines today shares in german chemical giant b a s f have tumbled off of the group slashed its earnings for calls for the year b s f says preliminary 2nd quarter figures are significantly lower and it blames the impact of trade conflicts. regulators in europe have ordered inspections on some older a $380.00 super jumbo planes after some cracks were detected in wings on the world's largest passenger aircraft says it has identified the issue and that it does not affect the airworthiness of the a $380.00 fleet. for the 1st time in 7 years the wealth of the global super-rich has declined according to a report published by consultancy from cup germany on monday it went down by almost 3 percent to 68100000000 dollars compared with 2017 the number of millionaires
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is down as well. tumbling shareholders are skeptical about a grant restructuring plan that will 800000 jobs around the world slashed the company is turning its back on the global equities market and cutting back on fixed income operations as well a decision that will cause germany's biggest than the billions of euros investors initially reacted positively to the plan however those earlier gains what you raised after which is fine and cheap expressed doubt the company could be back in the black by 20 and 20. now let's bring in our financial correspondent botts in frankfurt only 1st though the shares went up a couple of points after the announcement yesterday now that i think 34.5 percent down what's happening. while the concerns are mounting and the more people you hear the more concerns emerge for example that the timeline can be kept and you just
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mentioned syria for the financial chief sort of raising doubts with his words among investors and when people look at the goal that the bank has 8 percent return on equity by 2022 seems ambitious because when they look back they say that in good years when other banks were booming and where we're reaping in the profits of deutsche bank was creating losses how does that expect now to really change about even if it is a radical program with the economy worse than interest rates even lower than they were in the past years plus motivational problems with all those staff cuts leadership issues lots of new people coming in there quite a few concerns that are being mentioned here only in a surprise move by doj bank c.e.o. christiane zipping today he's putting his money where his mouth is it seems. that's right and he gets a lot of money for what he does earn 7000000 euros last year about that and
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3290000 of that was a fixed salary. everything else with bonuses bonuses get paid out and deutsche bank shares and now he promises that he's going to buy a touch of bank shares to the tune of 25 percent of his fixed income salary so that's a $29000.00 we don't know yet but if it was the same amount as last year and that would mean that he would be buying of his own volition an additional some 800000 euros in shares now that sounds like a great promise demonstrates that occasion and conviction but at the same time you have to wonder under what pressure a year is to demonstrate to skeptical investors how how concerned and how adamant the bank is about this oddly enough to do to separate us their thoughts thank you very. telephony was. caught in the middle of donald trump's
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trade conflict last year the farmers were able to sell their produce to india to help offset the effects of china. but now sales to the subcontinent are in jeopardy too. jake winger's family has been farming in this area for more than a century and has been growing all mines for nearly 40 years and much of their crop ended up on tables beyond u.s. borders. this year's harvest brings uncertainty last month india impose tariffs on all mines and $27.00 other u.s. products including apples and walnuts in retaliation for the united states ending india's preferential trade status. the india tires were a double whammy coming after judi's of 50 percent china placed on aman's last year california supplies 82 percent of the world's all mines and $7000.00 growers. india used to be the 2nd largest export market in the last year became the largest
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because of a lot of that new product going into india that would have gone into china so going into this year it's a nother greater level of concern because india was the place that sort of helped even out the impacts from the china tariffs now we see the new tariffs and india and it certainly gives farmers a big question mark as we just are getting into the harvest season. it's a question that's likely to remain open until the end of the year when growers send their all months to the co-op for processing and export. that's when they'll find out how much their harvest is worth and they'll learn the true cost of the trade war. that's it from me to w. news it's up to me.
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this is news live from berlin hong kong's lead a carry lamb saves the cherry trees controversial its tradition bill is state of the island's chief executive had posted on smith would be enough to enter a mass protest but activists are getting ready to return to the streets also on the program. the italian island of lampedusa has been.

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