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tv   Business - News  Deutsche Welle  June 8, 2018 3:02am-3:15am CEST

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left for dead and then suddenly brought back to life how u.s. president donald trump brought a chinese tech giant to its knees only to the resurrect the company but with strings attached. the make a merger traders have been waiting for about environmentalists have thought so hard against by air and monsanto seal the deal to create the globe's biggest player in the agricultural sector. also on the show as nigeria tries to repatriate stolen funds the government's anti-corruption drive comes under fire we'll go to nigeria to tell you why. and all dressed up with nowhere to go india's new voice a rocky road in their status symbols made in germany. it's time for business and e.w. and how you got to get us welcome to the program the u.s. government has finally reached a deal with chinese phone makers e.t.e. now the firm can once again buy american components that are crucial to its
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business in exchange for a hefty one billion dollars fine the announcement comes two months after washington accused the company of reaching a settlement related to an earlier violation of sanctions against iran and north korea it requires the company to change its board of directors and thirty days and include a team of american compliance officers that's how they call it the loss of access to american parts threatened to shut down production the issue was part of the trade dispute between china and the u.s. . and our financial correspondent at the new york stock exchange sophie szymanski has been following this story for us so it's very good to see you again now let's start with this company's e.t.e. because it is certainly an important company in china but it's not a big player in the u.s. so why is donald trump making such a big deal out of. well i think he sees this deal as a linchpin in the greatest passions between the united states and china and he
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seems to think making this deal might help him into a stronger position and bargaining with china in terms of trade in general and maybe let me some of what secretary of commerce wilbur ross and treasury secretary save him a newton explained when they met with a group of concerned senate republicans on wednesday afternoon the administration seems to be seeking to make a deal because the chinese have made it clear they will not deliver trade related concessions like purchasing more agricultural goods and energy from the united states without an agreement that lifts this and i oughter these what a person familiar with the matter said american technology firms in china may also face retaliation from the chinese government if the deaths shut down so this is clearly something china once but this starts criticism once again because some say this proves that trump is not being tough on china as you promised what's the
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perception there. well i think many people are really scratching their heads over it this president started this potentially costly trade war with china in large part because he says china is though an american jobs by flooding the markets with cheap imports but now some says he wants a safe chinese job comes the willingness to request it is the company's penalty it has drawn bipartisan backlash in congress and no make this three as if the administration is unwisely linking national security and trade to take for example senator michael bennet democrat of the rather oh i think his statement comes to everyone from the pretty well how is china supposed to think about what it is the united states is trying to accomplish percy says he's going to thank them and then he doesn't think that what's certain is that trump keeps us all guessing thank you very much so fishing muskie in new york for the analysis. corporate news now and
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bank of america is reportedly looking to move more jobs than originally planned from london to its new paris office it's shaping up to be one of the biggest shifts ahead of rex a first wave of four hundred staff will move early next year the banks refurbishing enough office space to create a european trading hub once britain leaves the u. . and a highly anticipated merger is finally completed german chemicals group buyer has sealed its takeover of u.s.c.'s maker monsanto it's worth sixty three billion euros by year is already a giant and will become an even bigger global player the name monsanto will disappear but its brands remain including the weed killer roundup which contains the controversial chemical life o.c. . it took almost two years but it's finally done with its purchase of months by a becomes the largest agra chemical company in the world. it holds just
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over thirty percent of the global market that's ahead of the chinese swiss firm came china syngenta which has just over twenty eight percent. it's the u.s. business with seventeen and a half percent. controls about thirteen and a half percent of the global market you know other words just five corporate entities will determine the direction of global agriculture and the nutrition of humanity while the world's population grows ten billion people by twenty fifty according to current estimates because farmland isn't increasing it's up to these five firms to figure out how to coax more out of the ground that's already under the plough. corruption costs the nigerian economy tens of millions of dollars every year the president is now trying to recover some of the money that has illegally flowed out of the country with reasonable success but critics say the government is not disclosing enough details of what has been recuperated sparking fears of further corruption cases. the story. this village once owned by
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a high ranking military official was confiscated by the economic and financial crimes commission the f.c.c. authorities have also marked many homes throughout the capital. they do so when there are suspicions about the origins of the money used to buy them. as soon as he took office nigerian president mohammad bihari said he would return stolen money to the country's cash strapped coffers even money taken out of the country illegally unfortunately. is very tedious. closely and it is just the side. that this should not be the case nigeria is currently negotiating with washington for the return of a half
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a billion dollars worth of stolen state assets seized in the u.s. after long discussions switzerland agreed to transfer three hundred twenty two million dollars back to nigeria in april civil society groups praised the two governments for agreeing to use the funds to fight poverty and that hasn't always been the case and the past the nigerian government's lack of transparency has caused delays. improve on this i formation put we can put in public domain but let you keep it secret so yes i want to think that's where the suspicion is that the government is not completely open about it there's definitely more information coming disclosed that is yet to be disclosed in town so exactly how much the. how much is we act. and how to be used to be used the nigerian government has been slow to release details its figures show authorities recovered a total of two point nine billion dollars worth of embezzled assets between made
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twenty fifteen and october twenty seventeen most of that money was still in nigeria . twenty an hour economic growth could soon outpace that of china rising incomes have also fueled the appetite of the country's new rich for luxury cars last year of the three million passenger car sold in india forty thousand were luxury sedans s.u.v.s and sports cars but congested and bumpy roads and high taxes are making it hard to enjoy the ride. for deepak sharma this shiny roadster is a dream come true. the fashion designer has been a fan of mercedes ever since he was a young boy he graduated from business school a year ago. and that's when his grandfather a farmer gave in the sports coupe that he my grandfather of blowing the thing and this is where their weak and vegetable fields used to be but now it's prime real
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estate with india's economic growth there's a demand for land and soaring property prices have transformed the outskirts of delhi farming families like de perhaps have become millionaires youngsters like me who are in both fighting things and all of this is the most i think. it may look good but driving a luxury car on india's rough roads is anything but easy. yes or towards. all these guys because they don't need the need for the both oars and the ratios of climbing with me these awards. after the way in advance flew to the right. because there was a storm is coming off a little worse it can only damage your. time deepak can really step on the gas is when he's out on the highway but soon heavy traffic puts the brakes on the joyride. it's an expensive passion day packs car
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cost about four point five million rupees or about fifty six thousand euros that's a hefty price tag for a fancy ride showrooms like this one are thriving here the used car sell for about forty percent less than when they're bought new it's a big draw for customers. in india very few people can afford new the three cars. that's because they're more expensive here than in most other countries but buyers like dave pack are already dreaming of bigger things he now wants to buy a luxury sports utility vehicle to better navigate the bumpy roads in remote areas . he stays connected to his roots here in this village in the northern state of how . it's all for business thanks for watching.
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