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tv   Business - News  Deutsche Welle  May 13, 2018 7:02am-7:16am CEST

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america's western allies had hoped told a very last moment but president donald trump wouldn't back out of the iran nuclear deal but in vain. i am announcing today that the united states will withdraw from the iran nuclear deal we will be instituting the highest level of economic sanction any nation that helps iran in its quest for nuclear weapons could also be strongly sanctioned by the united states iran was only just recovering from the economic sanctions that were in place before the nuclear deal was agreed half of all iranian females under thirty with high school diplomas and half of all males in the same demographic are unemployed. fresh sanctions will only worsen the situation the us u. turn affects companies like germany siemens its revenues were one hundred thirty million euros up last year after contracts with iran had surged in the wake of the
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nuclear deal it says it will complete existing projects quote as far as legally possible terms decision is a direct hit on european plane maker airbus a contract for one hundred airliners for iran air now hangs in the balance. german companies are fear iest the trump is meddling in their iranian business. we need that means the business side needs legal certainty on the one hand all the other if we have. any iran business so then we have to live with that it's fair. the level playing field that the u.s. says that we as europeans are not allowed to make business with uranium kompany he's even e.u. companies that supply iran with goods for the food industry are between a rock and a hard place if trumpery imposes sanctions they could face legal consequences in
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the u.s. many won't take that risk and will pull out of iran instead. french president de manuel marquez has been in office for a year now and economists say he's done more in those twelve months than his predecessors did in many years he's managed to introduce some flexibility into the rigid labor market against stiff resistance and his changes are bearing some fruit unemployment has fallen by half a percent since he took power and the french to to stix office now forecasts the highest economic growth in eleven years. in january at the world economic forum mccaw appeared confident. ladies and gentlemen my my first mistake is that france is back france is back at the core of for europe. he's lived up to his pledge to support young entrepreneurs with ten billion euros worth of funding towards innovation the results of visible the number of startups has been growing at double
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digit rates since mccombs election foreign investors are showing interest again having previously shied away. the image of france has changed a lot globally. when you go abroad you talk about it. whether it's in germany or in the united states. this is a real break from what we saw in the past. friends is perceived more positively by investors. body the. trade unionists say he's rapidly demolishing the country social safety net and they'll make sure it doesn't happen. cons constantly introducing the ultra liberal reforms just like fatter and reagan in the eighty's. we're heading for massive industrial action. the last two months of seen more and more strikes in many sectors. and that's going to continue we won't give up.
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so far friends as your president hasn't been faced by his critics. but the most difficult reforms to public services and pensions haven't even begun yet. russian president vladimir putin has been returned to office for another six years after a much criticized election last week ceremony was the fourth time he's been sworn in. he took the oath in the kremlin's grounds and andrews hall putin can point to a number of positive economic developments during his time in power inflation has been kept low national debt to all the while the standard of living has increased but he says there's more to be done. but if you knew because of this you do good structural problems and make sure our economy grows faster we need new sources of growth. production needs to become more efficient businesses need modernizing.
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we need to employ new technology in manufacturing new technologies are almost exclusively employed in russia's oil and gas industry the energy sector is enormously important for the country's economy accounting for almost sixty percent of exports in other areas though it struggles to compete globally for a long time in the past the government focused mainly on promoting major industries some would say to the neglect of small and medium sized enterprises where the lion's share of innovation tends to take place government spending has risen to seventy percent of g.d.p. . gold rush made it possible to put a painful but necessary reforms on ice reforms are always associated with risks. because they lead to a temporary drop in the standard of living in the. german investors appear willing to do business in russia many of them are bringing new technology along
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with them as well there are challenges though. corruption remains an obstacle here in russia but not as much as it was ten to fifteen years ago. corruption has slipped down the ranks to place four or five in terms of disruption to business this is definitely a very positive trend the biggest problem is too much red tape and a lack of financing and if. borrowing money is still expensive in russia the banking sector has been in crisis mode for years russia's military operations abroad in places such as syria are also expensive the money for modernizing infrastructure at home remains cares. as russian celebrate the arrival of spring analysts are wondering what putin will do to foster a new era of economic growth.
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nationalists paying starbucks more than seven billion dollars to form a global coffee alliance that will allow it to market starbucks products outside the american companies coffee shops starbucks hopes it will boost its food and coffee product which already generated around two billion dollars in annual sales and nestle expects the deal to strengthen its position in the north american market . german car maker audi has stopped selling its popular a six and a seven models after discovered what it called irregularities in sixty thousand diesel versions the company told german regulators it suspects the models may have been manipulated to bypass environmental regulations parent company fox wagner has already paid out billions in damages in connection with the so-called diesel gate scandal. japanese fashion label unique lowe plans to open its first store in delhi by the middle of next year unique low is taking advantage of
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a recent change to india's foreign investment rules they now allow companies to establish fully owned subsidiaries rather than forcing them into a joint venture with local partners swedish furniture giant you care will also be opening its first indian store later this year. rising u.s. interest rates have sent argentina's pezzo tumbling dramatically it's lost eight percent against the dollar since last week and seventeen percent since january president market expects the i.m.f. to help put the brakes on it. i've decided to enter discussions with the international monetary fund to secure a credit line just minutes ago i spoke with director christine lagarde and she confirmed we can start negotiating an agreement. to try and curb the country's rapid inflation argentina's central bank boosted key interest rates to forty
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percent but even that hasn't stopped investors from pulling out and channeling their money towards the u.s. instead. the interest rates in the united states have gone up significantly and currencies are devalued against the u.s. dollar. the dollar is putting immense pressure on other currencies including argentina's. the government hopes the emergency i.m.f. loan will stop the crisis from worsening president barchi has been grappling with the country's high fiscal deficit since he took office in twenty fifteen to make drastic cuts to social benefits and since then poverty in the country has soared. luxury s.u.v.s are pitched at the wealthy who want to project an image of being adventurous those for instance who have three hundred thousand euros pair for a my but ultimate luxury is evening of room inside this one for
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a butler to take care of on the road refreshments when you're stuck in the traffic . then there's the bentley. for two hundred ten thousand which makes even a short jaunt to your tax haven appeal pleasure. and to rolls royce even the wildest ride in its new cullinan is a smooth as silk looks on the inside adventure on the outside things that obviously come at a price if i talk. talking three hundred twenty five thousand u.s. dollars if i talk british pounds we're talking one hundred ten thousand british pounds so. on that level of course before any tax and before any additional requests us customs when it comes to be spoken. there are indeed countless extras for those who can afford the over five metre long leviathan
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rolls royce appears to be targeting the kind of buyer who lives in a very sandy country though it says not. particularly of color then we will see a very global worldwide market for this car which doesn't hotspots in one market this is truly global the market for a c.v. booming worldwide one in three new registrations is an s.u.v. even rolls royces finally had to bow out of the trend after over one hundred years in the business the carmakers reputation for discretion is of course paramount even here in the cullinan documents are invisible to the outside world.
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