tv Business - News Deutsche Welle July 26, 2018 5:02am-5:15am CEST
can a trade war be averted says the u.s. and the e.u. will work together towards zero tolerance is the european commission president. visits washington and not a moment too soon some companies might say effects of trump's terror cell becoming increasingly apparent hitting american companies hard. coming up leaders to fight brics countries meeson johannesburg can the new group find a fresh mission when it comes to free trade. space is your business update on how at home free and glad you could join a could a trade war between the united states and the european union be off the table following a meeting with european commission presidential aide washington on wednesday u.s.
president donald trump said the two sides have agreed to work on lowering trade barriers take a listen to the u.s. president outlining what the path agree to this is why we agreed today first of all to work together towards zero. zero non-tariff barriers and zero subsidies. or no auto industrial goods like you. like you. u.s. companies for one might be breathing a sigh of relief the effect of chumps tariffs have already been having an impact on them and one of and now the president not the one the president intended general way just for one so it's shares tumble on wednesday in their second quarter profit down compared to last year the company's now lowered its profit outlook for the entire year the cost of g.m. two materials have been going up in the fallout from the trade dispute it's america's biggest carmaker and use this huge amount of steel.
well before trump's announcement that the u.s. intends to work with the e.u. i asked our financial correspondent so if you should month ski where to go wrong for g.m. . well they are americans being hit by the terrorists and this becomes very obvious when looking at the outlook g.m. gave one reporting their earnings the nation's largest automaker lowered its profit outlook for twenty eight hundred saying it expects commodity price pressures to continue and guess where this is coming from right and it's coming from trump and his protectionism especially from his tariffs on elam many i'm in feel because they're simply the most important draw materials being used in auto production and the tariffs are causing prices for materials to increase their production costs rise and this cuts into profit margins g.m. said raw material costs have increased well beyond what they had expected earlier
this year so this will result in ahead of about a one billion dollars more in costs what they had expected or originally and if g.m. would end up raising prices for consumers this again could hurt demand so all in all that is a bad place for g.m. and really any automaker to be in right now and he or she waco or any other industry out of margin as well couldn't this blowback spread to other industries i mean what are investors saying about current. yeah definitely have an hour but at the moment it is helping the dow jones tremendously that the meeting between younker and trump seemed to have been successful in a way that they could agree on a few concessions to avoid a full buoyant blown trade war so generally speaking i think we have been seeing this phenomenon for quite a while now and the markets are not as strongly reacting as one might think at least not as strongly in a negative way the short term effect of the tax reform and even off prize of the
trade policies i kind of carrying a big chunk off the stocks right now with tech for example being really a strong trade disputes in the data so then again it also is not easy to come to a valid conclusion for investors as trump himself is sending just mixed signals calling terrorists the greatest listen she's also using the summit to slow the china trade agenda in africa with his opening remarks chinese premier she jean ping cast himself as the voice of global economic order. she does everything from we should be resolute in rejecting unilateralism and protectionism promote trade and investment liberalization and facilitation times and that's giving new prominence to brics after all we present forty one percent of the world population twenty two percent of g.d.p. eighteen percent of trade at this point in time i think the international border is
being challenged. the confidence in the order in distribution borders is not as strong as it used to be so it's time for the brics to clear for them its commitment to the international border by doing so brics nations hope to been order more in their direction that means development models and funding mechanisms aligned to their needs instead of those of western nations. china in particular has good reason to prefer open trade its belt road initiative is connecting global markets the checkbook diplomacy behind it has been on full display in recent days but before they can lead brics nations must protect themselves against global economic shifts with increasing u.s. protectionism india china and brazil will rely on each other more. the question than is whether this year's conference will really be about offering new vision or simply hanging together in tough times. ryanair has won three hundred jobs of
pilots in cabin crew could be set to go as the carious as it might cut its been based fleet by twenty percent for the winter season two recent strikes bookings you know what comes ryan asked often for european countries conduct a two day strike. this is what ryanair was hoping to avoid images of frustrated passengers waiting in line. intended musk a toast at a minute we thought everyone who's flight was cancelled had been informed we never expected they'd tell us half an hour before we were supposed to fly that we weren't going anywhere and i know i wouldn't have had all of a canceled our flight to pisa we found out in the taxi on the way over here actually i see a lot of. ryanair had tried to limit the disruption caused by the cabin crew strike even pressured many of its employees to cross the picket lines. but company management failed to find common ground with union representatives. and. ryanair is
a textbook example of what you shouldn't do be a worker relations union relations or management style they abuse their workers they humiliate them the striking workers want to draw public attention to what they call abuse with these water bottles they're required to buy their own water wall and duty just like passengers the strikes in belgium portugal and spain are centered on working conditions rather than money. there has been flying for ryan air for six years but despite the loyalty when he sick he says he's on his own. if i get treatment here i have to foot the bill myself and hope that the irish insurance system pays me back we also can't get loans for a house t.v. or car because we earn our income abroad and foreign banks won't give loans in spain. ryanair has published information about its benefit packages and average wages much to the surprise of all sky he
claims take home salaries are around twenty thousand euros instead of the thirty four thousand ryanair claims. ryanair is lying there trying to get the public on their side we were never interested in numbers or wages this is about our working conditions respect we don't want to be insulted or threatened we want to work without being afraid. and what have strikers achieved after the first day in spain at least not much the country's transport ministry said a minimum level of flights must take place hamstring the new numbers. off in iran i don't think there will be more protests we won't kowtow to ryanair we won't let them take advantage of their employees or let the authorities management or passengers laugh at them if things with anyone in the majority of ryanair flights in and out of spain did take place on the first day of the strike passengers were informed on time but that could change as the strike continues. a difficult
day for fear cries about the death of its times. on air he died on wednesday at the age of sixty six off to complications in an operation charismatic former manager is celebrating saving both feet and cries of bankruptcy mcewen i achieved his last major goal just before his posting cries and almost on wednesday it had been in the eighty's it's dead at marconi also left more immediate concern italian american call make-a posting a thirty five percent to a profit for the second point to a scaled back. reading on to action. and if it looks like a kit kat and tastes like a kit kat it might not be the european court of justice has ruled that nestlé has no claim to the shape of the iconic chocolate ball so it can no longer trade make trademark the shape of the fourth to go wife and chocolates not main rivals can now
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