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tv   Business - News  Deutsche Welle  March 19, 2018 12:15pm-12:30pm CET

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capture the us presidency. have all the details on that story coming right up in business. d w media center see it find it here it discover. video and audio podcast from language courses in the g.w. media center at media center dot de w. dot com. we may come over as we watch as all our folks that are under the age of five we are the civil service and. want to shape
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the continent's future to. be part of enjoying our youngsters as they shared their stories of their dreams and their challenges. the seventy seven percent of. platforms for africa is from charging. a whistleblower catches facebook guard with claiming that millions of customers have their profiles plundered donald trump become president of the united states and finland experimented with universal basic income is now in its second year with mixed results. this is a business on christopher. when a company announces a comprehensive internal and external review usually something went quite wrong before and now for. ace book has announced it would launch such
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a review that after a whistleblower claims personal data of fifty million customers was misused by britain's cambridge analytical in the twenty sixteen u.s. presidential election not facebook c.e.o. mark zuckerberg assessing some serious questions. facebook's mark zuckerberg enjoys the limelight as much as the next guy had least when the news is good but as far as the latest data scandal is concerned he's keeping a low profile more than two years ago his company discovered that cambridge analytical was using a data link to spy on fifty million of facebook's uses but facebook failed to inform those affected cambridge analytical was simply told to delete the data which according to media reports never happened instead facebook has opted to delete the accounts of those who brought the scandal to light people like chris wiley former research director at cambridge analytics he's described how the company was.
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imagine i going to ask you i say hey if i give you a dollar two dollars could you fill out the survey for me just do it on this app and you say fine right i don't just capture what your responses are i capture all the information about you from facebook but also this app then crawls through your thoughtful network and captures all about data also so by you filling out my survey i capture three hundred records the user's facebook friends were spied on without their consent of course their likes their gender sexual orientation and political leanings everything was gathered on friday facebook announced it had suspended cambridge analytical but that's not enough for politicians in britain and the u.s. they now want to tackle the issue and confront those responsible from facebook. g twenty finance ministers are meeting one as i had us on monday and tuesday and the future of global trade will be high on their agenda insiders are looking for
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signals that china and the u.s. may back off from last week's protectionist posturing most recently leading u.s. trade groups have urged president trump to stop plans to slap tariffs on chinese products forty five associations representing sectors from high tech to agriculture said in the letter that sweeping tariffs would trigger a chain reaction of negative consequences for the u.s. economy now alongside the looming threat of a trade war the air at the g twenty finance ministers meeting is thick with the fear of a currency dispute and more than a year after donald trump came to power the u.s. dollar has shed about fifteen percent of its value the weak dollar makes u.s. products cheaper and therefore more competitive on international markets now experts say the weak dollar is the key reason behind the strengthening of the euro the common european currency is currently worth around a dollar twenty four the most it's been for about three years and that's bad for
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european companies who want to export making their goods more expensive for more on this subject let's bring in creg erling he's a senior market analyst at a lot of currency traders welcome to the program greg that lower dollar that we're seeing here is that official part of u.s. trade policy or is it just an accident. i don't think it's an official part of u.s. trade policy i think the race gains to be had from having we could see which we've seen a number of different countries adopt the past few years in particular it boosts exports which is a key fact they have especially when you're looking at a country like the u.s. where their exports of money five to products isn't exactly the strongest part of their economy but it is a place that donald trump did play towards during the election campaign so you can see understand why people think a week a dollar would benefit donald trump and helping follow through on his promises
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bolton atlee overall with the u.s. economy really a stronger dollar is generally the preferred option and we have the secretary of fine and steve newton actually talking down the dollar at the world economic forum in davos of course now a weaker dollar would make exports cheaper but what could be at stake for that. will be offset of that is that it makes it more expensive for the spend less money on the make keeps inflation low home as well so the broader sense is that while it might not be good for domestic industry the overall consumer across the board is better off not talking about consumer concerns we're also looking at potential terrorists being slapped on products by the u.s. administration how likely is it that we'll be seeing a currency war on top of this trade dispute.
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i don't think we'll see an actual currency war break oh i think the trade dispute is going to be damaging enough without a currency war on top of that and as long as central banks remain in control of monetary policy i think the chance of a currency war on top quite unlikely i think the trade disputes is going to be much bigger fuck that because ultimately down the line this doesn't just leads protectionist measures it doesn't just make goods more expensive for domestic consume is it then in itself generates inflation which means the central banks have to raise interest rates in order to offset inflation which again makes consumers worse off so noble wins in these trade walls and hopefully we can start to find a way to solve it before it gets too serious craig senior market analyst ed wand a currency traders thank you for your insight. and for more information on that you'll find an exclusive on our website where we've taken an in-depth look at what's motivating being donald trump strategy and the slide towards
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a currency in dispute. now finland has been experimenting with a universal basic income for just over a year now so you radically a revolutionary idea for all people to receive money for nothing as automation makes less and less work available but in finland they are trying to see if a guaranteed basic income will motivate the unemployed to take up paid work is more . you have a call come to an informal lou in northern philanthropy cvs the basic income. he used to work an i.t. but was unemployed for four years after the company he worked for shut down he feels too old for start ups and thinks his skills are too rusty to apply for more senior programming jobs now he wants to become self-employed and the basic income provides the necessary safety nets to go along with the public or the new jobs in
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the i.t. industry work pretty well paid. and going self-employed is whiskey. but i've wanted to be my own boss for so long and now i finally have the chance to give it a go. and to bronchos he now sells high end chocolate as. he offers the confectionary to luxury food stores in all of. the products are imported from other countries like germany. he sets up an online shop from home which he hopes will make his small business a success your statement of how low are one or if you just want to sit on the sofa at home and you can use the basic income to carry on being lazy and not even find a job but for people like me who want to work it's very motivating. monochord every movie or when i. got a call has given himself
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a year to make the business turn a profit because even with the basic income it's hard to make ends meet in finland . the finnish government is being cagey about the results so far. how the two sides and test subjects to use to use their basic income will only be evaluated after the end of the test phase in over a year this model could play a big role in the future labor world. market. so we can't predict the job market will change in the future. automation might mean there isn't enough work for everyone and then we need to really think about how to rearrange our social security system. yes cannon from tom petty or the basic income means above all one thing security
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the former hotel employee hasn't found a permanent job for a long time despite applying for one hundred and fifty in the past year she comes to the city library several times a week to look for work online but it's hopeless she says she's too old i'm not qualified enough at all my bar mom to him that. i probably worked less than a month last year. i did odd jobs here and there the normal you can't help someone move post yesterday for eight hours. just these typical temporary kinds of jobs. they do. i am makes doll's house furniture which she's hoping to sell. she doesn't know what she'll do when the basic income stops. now a u.s. trained economist gang was appointed to succeed the longtime governor of china's central bank on monday you studied at the university of cent paul and received his
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ph d. in economics from the university of illinois previously he has called for greater market access for foreign investors in china and for further internationalization of china's currency. that wraps up our show from business team thanks for watching i'll be back here with a fresh unfortunates clinton. among
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