tv Business - News Deutsche Welle April 18, 2018 1:15pm-1:30pm CEST
a war with friends all over the world. go online and interact in. german to go. learn german for free with g.w. . and you thought the diesel gate scandal was over well think again because fresh police raids a porsche and today the biggest industries and germany's post-war history is anything but. russian business is suffering from western sanctions across the board even companies not targeted. and i've only been fall fourteen years but more and more. check seem to want to get out of the e.u.
six it is becoming the new buzz word in business as you are skeptics getting more influence in prague. visited a business i'm going to office and berlin welcome just as we all thought the diesel gate scandal was a thing of the past this german police have raided properties linked to three top executives at the sports car maker porsche it's part of a fraud probe linked to the diesel emissions investigators searched ten sites links to one porsche board member another member of upper management and a third person who no longer works for the company audi properties were also targeted porsche like audi is owned by fox farm which in twenty fifteen admitted to using cheating devices on diesel engines to pass emissions tests now is in the cross has let's get more on this developing story from our financial correspondent. in frankfurt done what can you tell us what are you hearing.
well this is still a developing story we're also a closely monitoring from here what we know so far is that around ten am this morning premises and the very hour and biotin verdant back were searched by around one hundred sixty officer this has also been confirmed by the prosecutor's office in a stock out for the moment more information also of all exact function positions or even names have not been released we have tried to contact for sure they have confirmed the search but they don't want to provide any further details even though also investors here on the trading floor think that most likely they're worse off that these a gate scandal is over it's still another topic that is overshadowing the entire industry earlier this year german prosecutors widen the approach of porsches sister brand audi which developed these little engine in about eighty thousand v.w. audi and porsche a car that also was most likely equipped with manipulated software as well.
stay where you are for the moment we stay on the subject there's been a drop in car sales and munch across europe and is the first one since twenty fourteen that in some economists worried because they look at new car purchases as an indicator of economic health the european comic association said just under one point eight million cars were sold in march that's a fall of five point three percent compared to last year's surprise me strong sales growth is at its lowest point since twenty third team but it might not be a weakening economy that's responsible many by holding off purchases following the diesel great scandal that we've just heard about and the industry's new focus on the mobility let's go back to down in frankfurt how did car companies as react to these fresh figures. yeah investors did not like this news at all the german automobile industry is one of the most important ones here for the entire country diameter shares i want of the worst performers this morning at the blue chip index
stocks but in general all the shares of the major car makers are down at the moment and yeah we heard car sales have been dropping actually by sixteen percent also in the united kingdom brecht's that is certainly a big topic there and the other part of that can be blamed on extreme winter weather and also an increase in vehicle taxes that took effect in two thousand and seventeen and left to us paid off purchases last month and also visa the credit card company is reporting that the consumer spending and britain has been declining as well but certainly bret's it is a big topic there is lots of uncertainty what all of this is going to mean for that country which makes customers a little bit more reluctant for a big investment in their car certainly for many it's a very big investment. in france and thank you. another round of u.s. sanctions against russia seems to be off the table for now at least that's what the president trumps economic advisor larry kudlow said tuesday but be that as it may
russia's involvement in the syria conflict has led to all sorts of political condemnation including economic measures a first round of sanctions imposed earlier this month against russia over its support for the syrian regime calls chairs and some of the country's biggest companies to drop this here behind me is the is russia's blue chip index r t is in early april you get the picture the russian ruble also took a hit and those measures tame on top of the sanctions already in place over russians russia's annexation of the crimean peninsula and now only russia not only russian blue chips are affected companies that weren't even targeted by the sanctions are hit nonetheless. the u.s. sanctions announced on april sixth affect fourteen russian businesses and seven oligarchs among them oleg thierry pascoe who's been accused of interfering in the twenty sixteen u.s. election his company roussel is the world's second largest producer of aluminum
within a week of the announcement its stock fell by forty percent. but in that's not a one off market capitalization for many companies has falling even those not affected by the sanctions because. nerves are jittery moscow's stock market is under pressure american corporations have to sell all their shares in russian companies by may seventh any business caught helping another bypass the sanctions is in danger of being sanctioned itself. if. investors are feeling unsettled and that instability is poison no one knows how things will progress with russia is for issue. the sanctions have also had russia's urns industry the u.s. has blacklisted rosso border an export which has a monopoly on the country's weapons exports tens of thousands of jobs depend on the sector and russian prime minister dmitry medvedev is promising to help affected
companies but that will have a negative impact on state coffers russia is already contemplating countermeasures for example a halt on titanium exports to the us that would hit boeing especially hard russian supplies cover a third of the plane makers needs when it comes to the essential metal and delivery of russian engines for america's and tyreese rocket system could also be put on hold the last few major common projects the countries are involved in could soon grind to a halt experts are sounding the alarm a coalition of sensitivity as is so often the case with russia kremlin politics are damaging our own economy more than foreign powers counter sanctions we're just deepen our crisis and make worse what's already bad no one is delivering key technologies anymore but we need them desperately and can't just replace them we don't have the specialists or good training facilities we're missing international
cooperation. russia's lower house the duma had planned to pass counter sanctions this week but then unexpectedly backpedaled a decision has now been slated for the middle of may. the international monetary fund is predicting a global slowdown in growth in the next few years that's due to aging populations lackluster productivity and protectionist trade policies let's have a look at those projections in the short term things actually looking cried rosy yanna france a worldwide growth of nearly four percent for this year and next in the us though the economy is likely to benefit in the short term from president trump's tax cuts rose is predicted to move up to almost three percent however those tax cuts combined with increased spending could be damaging in a few years time looking at the eurozone that was expected to benefit from continued low interest rates the i.m.f. for the growth of almost to put two and
a half percent for twenty eight hundred which might however slow down the year after. we've all heard of bragg's it which has become a buzzword but maybe we should get used to a new one what about shakes it because the political situation in the czech republic is tilting more and more towards an exit from the european union business owners there are increasingly worried about isolationist tendencies in the country . czech company based machines and structures generates forty million euros a year revenues for the family owned companies high pressure storage tanks to especially well almost eighty percent of output goes to other e.u. countries the prospect of checks it the czech republic leaving the european union is a nightmare for c.e.o. french shekel avani its export oriented business model would collapse overnight. integrated within the collaborative network. and. this is
a lot of benefit far more benefits to stay within the. foot of the market place near the steel company's headquarters in benish of the mood could hardly be more different in rural areas as well as small provincial cities a lot of czech simply don't like the e.u. . last. year we were in it i don't know what it's worth we're in it ok maybe some fifty fifty but. i don't think it's good for us but it will be better for us to leave the european union. survey by the german czech chamber of industry and commerce says that eighty three percent of foreign owned companies here under full two thirds of czech companies are worried about the current check to debate some foreign companies say they'd leave the country immediately if it were to exit the e.u. . as long as the czech republic doesn't have a new government which clearly stands by the end reaffirms check membership this
debate will drag on poison for the economy because it causes so much uncertainty for the. resurgent populist parties in the czech parliament or even demanding a referendum on e.u. membership and there's no clear indication which way the vote would go. from me and the business. as usual i'll have an update for you in the next hour in the meantime assault on social media on twitter and facebook but before you go here's an update on global markets and besides i like the to. cut cut cut cut cut cut cut. cut cut cut cut cut cut cut
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