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tv   Business - News  Deutsche Welle  June 18, 2018 3:15pm-3:31pm CEST

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to. make your sport t.v. people smarter than t w force more to. what you want when you want it up to date extraordinary thing to decide what song song don't more w dot com smart t.v. . they make
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a commitment. they find solutions. they can stronger. africa on the moon. stories from both people making a difference shaping their nation. and their continent. w.'s new multimedia series for africa. dot com africa on the move. took to. get. a new bombshell in the diesel date saga d.c. oh really let's start line has been detained on suspicion of proles parent company folks come from the arrest is the latest development in v w's ongoing emissions cheating scandal. and dealing with debts is all steroids are really the only way demonstrate. the poor south of italy say enough is enough and refused to accept
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more spending cuts. welcome to do business with starting out with the latest fallout from the emissions cheating scandal the tale of corporate misconduct that is refusing to go away today the head of german luxury carmaker audi has been arrested in connection with the scandal prosecutors are being held on suspicion of fraud police raided his house last week as part of an investigation into the emissions cheating scandal that has cost audi's owner folks billions of euros in fines and buybacks earlier this month he said that another sixty thousand diesel cars contain software designed to produce unrealistically low results on emissions tests that's on top of nearly one million audi's we called last year well joining me now is in the studio tilton and of course in a frank that's fine so he's trying to discuss this latest developments that start with
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you are one of germany's top c.e.o.'s detained over emissions cheating that's quite serious isn't it well it's definitely a serious turner in the investigation i mean he has been we don't for a week know that he's been under investigation for fraud in connection with the diesel emissions scandal and what actually happened today was. a judge ordered his detention based on fears that he might actually be trying to tamper with evidence either destroying evidence or maybe influence seen some people some witnesses that the police might actually be willing to talk to and of course we don't know if that indicates that this will actually result in criminal charges long term but it really does speak to the attention he's getting from german federal authorities. only turning over to you one of the images the emissions scandal finally coming home to haunt the german industry after home. it surely is i mean this shows that the german justice system is also aggressive handling the issue there was lots
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of criticism that there weren't any arrests that there weren't any top people over here that the system was coming out in contrast to the united states but now she's now a c.e.o. of audi one of the top people in the volkswagen group a confident of the porsche and ph family that owns the majority of the whole volkswagen family with over six hundred thousand employees two hundred billion euros and turnover and you know ever since the scandal started people here at the exchange where i'm standing have been asking themselves why not the top people they must have known and there was suspicion from the beginning also about rupert stolidly now it seems to be confirmed that at least the prosecutors have enough evidence to act on of course he's presumed guilty but people here see that it's a move that they've been expecting for a long time we told him of the mood. of the investors in frankfurt how the
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market where. the markets reacting by taking the v.w. share down didn't react sharply at the beginning but now the w. is in fact the biggest loser you know the minus is only three percent in this from a level which the volkswagen share had before the scandal broke and tanked right when the scandal broke but has since recovered because people still buy the cars and they're buying them in record numbers and the profit is is very high a volkswagen so the penalties that they're paying now seem to be fairly easily absorbable and you know with the rest of someone like rupert stubbs or new impetus to come to allegations against the company and court cases could become expensive again. question to both of you first heads are rolling will that help so sort of close the whole scandal well. kind of kind of remains to be seen i mean if you think about it i think internationally. haven't really suffered that much from the
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emissions scandals like just as we are hearing their their their sales numbers really are dropping off like you'd expect it i think inside germany however people have really to a certain extent kind of lost faith they've had a real image problem to deal with i mean a lot of the people i've been talking to have voiced frustration over the fact that if you look at the united states consumers who were cheated as part of the admissions scandal were actually given large compensation packages my father actually had one of the cars and he ended up getting a new car out of the deal and i've talked to people in germany are saying well where's my new car where's my huge compensation package i mean and up to now we've only seen talks of software updates and they've been saying that there's been some kind of bad blood out there were people are saying look politics is so in deep with the auto industry that they're going to soften them and at least now we're finally seen that when it comes to criminal investigations that as we heard their heads may roll and that could really at least be a first step towards repairing some of the damage done inside the country. but
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isn't it also a question of corporate culture specially have v.w. the mother company of audi do you think just cutting off their heads is enough. no it's not enough but it certainly is a big part of it involves what i've been asked to act now and basically release rupert's to other from his job fire him and install someone else in the reports that the supervisory board which is meeting today invoice book where the company's headquarters is going to do just that but it has to do much more when you talk to people here they lament that the company still has not published a report a full scale report naming names and saying explaining how this all came about and until that happens you can roll as many heads as you want you won't have a different corporate culture. there and very briefly what does this mean for the german car industry well as i was saying there right now i mean this is going to get a lot of people sitting up straight and kind of
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a check in their own doors in maybe a prosecutor is going to be coming by i mean this is the first major criminal prosecution we've seen in connection with this and at least the united states we've already seen two high level engineers facing jail time or this and while we've very weary likelier to see something similar here in germany or we could at least until the end here in the studio really beyond in front thank you both very much. though google is said to invest five hundred fifty million dollars in chinese online sales company j.d. dot com making it the latest u.s. enterprise to dive into asia's e-commerce boom the deal will c.j.d. dot com products appear on the google's shopping service while google cannot apply the chinese e-commerce companies supply chain and logistics expertise to its technology deal could help google gain better access to j d spread beyond southeast asia region is rapidly becoming a key battleground for industry players hoping to cash in on asia's rapidly growing
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middle class. but italy's new prime minister is at the conti is in berlin for talks with german chancellor angela merkel today the italian economy is in dire straits and rome's financial options are increasingly limited italy is the e.u.'s fourth largest economy its debt though is the blocks highest right behind greece conti wants to bring down italy's debt through growth rather than austerity reducing the gap between debt and gross domestic product a tall order considering that italian debt has been growing since the financial crisis in two thousand and eight from one hundred and two percent of g.d.p. to one hundred thirty two percent in twenty seventeen romas planning massive tax cuts to stimulate a long term growth in the short term this will likely lead to shortfalls in revenue and even more debt the direction of italy's new administration a coalition of populists from both sides of the political spectrum is anyone's
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guess this uncertainty can be felt at present in the southern italian city of current or. engines of course choice has been working at the steel mill for twenty years he takes us to the cemetery to explain the problem caused by the mill he shows us how everything at the cemetery has turned red the steel mill is the problem the red iron oxide particles and unhealthy dust which descends on the inhabitants. that thought it was just too much after a while it got me really really angry because i had the bad luck to see lots of colleagues and friends die or get sick from the dust. thirteen thousand people work in the steel mill which used to be state run it can be seen best from the roof of the church now us law mittal is taking over the company and wants to cut three thousand jobs fabio could show has no hope of better
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working conditions not even from the new government even though toronto is the heartland of the five star movement. norm. they could never carry out what they were promised that's the way it always is at this time it's looking really bad because they are bound by the coalition agreement with the northern league for. the steel mills real dimensions can be seen best from the air the giant produces eight million tons of steel per year which is then transported to northern italy or abroad one of the few local processing companies owned by the employees association president of the region he hopes that the new government despite the five stars and leaks positions will finally put italy's industry at the center of attention. fed a new door will open for small and medium sized enterprises in the region we in the employers' association have proposed that support be given to small and medium
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sized enterprises to enable them to process the steel produced here and increase the value added. the companies around the steel mill are hoping that the government will do something about unpaid bills debts to the tune of two hundred million euros . this reduces our ability to search for and invest in new activities and if you count invest you can't expand or diversify. when she shows us how he's trying to improve the future the company has developed a hydrogen storage facility but i'd until page bills are settled and change can be initiated the steel mill still shapes the fight of the region. that's all for me in the business scene thank you very much for watching.
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