tv Business - News Deutsche Welle September 15, 2018 3:15pm-3:31pm CEST
and for you at least five people have died in the united states as hurricane florence moves slowly inland across the states of north and south carolina it has been downgraded to a tropical storm but it's still bringing extremely heavy rainfall and dangerous storm surges hundreds of thousands are without power. there watching the news from berlin more news coming at the top of the hour thanks for joining. us and don't entice it went on as cream truck drivers or dealing with a new unit that only killed many civilians in the rush come including my father so that i was a student and i wanted to build a life for myself. but suddenly life became malinche kind of song.
providing insights global news that matters d.w. made for mines. at the. turkish merchants check the price tags and increase prices if necessary in recent weeks merchants in turkey had to do that almost every day then on thursday the currency the turkish lira lost rapidly in value in august alone prices rose by twenty percent on average some goods even more
. just you know i could hardly buy anything eg prices rose to sixteen or seventeen turkish lira we used to buy them for ten now i can't afford to have aches for breakfast. many turks had high hopes that the truckers central bank would raise interest rates to shore up the lira the country eagerly awaited the meeting of the turkish monetary authorities on thursday shortly before president everyone had demanded exactly the opposite he called on the monetary authorities to lower interest rates he also accused them of ignoring the interaction between interest rates and inflation. all my own anyone who says inflation is the cause interest is three zero does not know his way around this business because. but the central bankers resisted the president and raised the key interest rate significantly by more than six percent the effect began immediately turned so exchanged liras for dollars. i got
a slightly better exchange rate in the afternoon. the central bank's interest rate decision immediately boosted the euro by five percent. and i could bond to suppose that we could rule the central bank is an independent institution and it did what it had to do. because the turkish lira lost so much against the dollar that the measures had to be taken but also and i think with this increase in interest rates inflation will go down again and we apply but i don't know for how long a. time on college hill is it meant that the central bank won't be able to say that either but the fact that it raised the key interest rate by more than six percent shows that it's prepared to defend itself against price increases and it shows that it won't let everyone influence their decisions bute everyone reacted promptly on friday he again accuse the monetary authorities of having no idea everyone fears that the interest rate hike will slow economic growth
a development that according to experts is quite probable. this saturday is the anniversary of the lehman brothers bankruptcy. it's been ten years since the us investment bank collapsed under its own debt burden. one of the almost twenty five thousand employees worldwide who had to pack their bags at the time was luis m. sanchez. the feeling was. where is this going to end. it looks like. the end of the world financially and there are regular people out there doesn't know how bought things are. the lehman brothers case set the financial world into a tailspin. and then the real economy followed suit today ten years later the economy has largely recovered. but new dangers are looming from
. corporate debt. tesla is ten billion dollars in debt. net flix eight billion dollars. germany's leading shipping company is seven billion dollars in the red these are just three examples of loose lending never before have companies worldwide had such easy access to money as in recent years. according to a study by the mckinsey management consultancy worldwide corporate debt has increased to sixty six trillion dollars almost double what it was at the start of the financial crisis ten years ago. all the money that was borrowed has to be paid back if interest rates go up and repayment will be more expensive and may have to be counter financed with new debt if that gets compounded by an economic downturn many companies could find themselves in
a tight spot. did vokes wagon informant's investors too late about manipulated emissions values a german court started investigating this question this week thousands of investors sued the company for nine billion euros in damages their lawyer brought along plenty of files to prove the information was handed over to slowly. under german law v.w. is required to communicate essential information to investors and the markets we are firmly convinced that v.w. should have told markets at latest in june two thousand and eight that they would not manage to produce the technology required in the united states if you didn't do that the u.s. environmental protection agency made the v.w. diesel fraud public on september eighteenth twenty fifteen but feet of you didn't warn shareholders until september twenty second you claims that. wasn't possible
earlier. gets to force to from our point of view this case is only about whether folks wagon met its obligation to shareholders and the markets were convinced that this is the case. isn't about. the court's ruling isn't expected until the end of next year. the european central bank is slowly heading towards an end to its loose monetary policy starting in october it wants to cut its controversial purchases of government bonds by fifty percent to fifteen billion euros per month by the end of the year they'll be discontinued altogether at their meeting on thursday the currency guardians let the key interest rate untouched at zero point zero percent so the loans in the euro zone are remaining extremely cheap the. commission president. wants a greater role for the euro in the world in his speech on the state of the e.u.
he called on member states to promote the euro as a global currency in this way the euro should be able to challenge the u.s. dollar. is particularly disturbed by the fact that the e.u. pays mainly in dollars for its energy imports according to experts the withdrawal of the usa from international agreements under trump offers a good opportunity to strengthen the euro internationally. in the age of online shops like amazon traditional department stores are having a tough time in germany archrivals car shot and cowfold are merging the contracts were signed on tuesday both sides also expect savings from the department store marriage according to media reports every fourth job the cow from loan could be eliminated the cartel authorities still have to approve the merger. miners in australia have found gold worth almost ten million euros. the mine was already
slated for closure. it belongs to the canadian company r n c minerals who shares shot up by ninety four point four percent after the discovery was announced no one expected to find gold that deep in the mine one of the gold lumps is said to be worth two point five million euro us. in hundred this week top politicians from southeast asia met with representatives of international organizations and companies at the world economic forum of the azi on states vietnam's economy is growing fast fishing though is becoming less and less important there it used to be the main source of income for many people how long bay in the north of the country now more and more vietnamese only go fishing as a sideline most work is in industry or in trade these days the economy is growing by
over six percent a year and the free trade agreement between vietnam and the european union will be ratified in january as a full ones i support sixty five percent of all terrorists will be abolished the certifications will be standardized with a transition period of five to ten years one hundred percent of all existing barriers will also be abolished that puts vietnam in a great starting position especially compared to other countries in the region because it's all. the work here takes place in two shifts in the vietnamese capital hanoi german manufacturer of b. brown produces so-called infusion transfer systems for the world market they were essential in every hospital managing director. who's proud of the quality be browned open the plant in twenty fourteen and has since invested over one hundred million u.s. dollars in the vietnamese site. in seville is money basically welcome here as an investor of course you should make the mistake of thinking that everything
will be the same as in germany you have to keep. used to the local conditions and you have to be familiar with them i would recommend it to anyone who intends to invest here to do so but only with the appropriate advice the speed at which economic development in vietnam is progressing is just right for the very young population there everywhere people are building and modernizing and many are looking for prosperity. jose manuel abed is back in spain and he doesn't care what kind of work he gets the main thing is that it's in his hometown in southern spain his job as a waiter is only temporary at the end of the holiday season he could be unemployed again. i just came back from germany in october and i could get unemployment benefits and sit at home calmly but i think it's important to take advantage of opportunities it's always good to have a job nearer home so you can afford the long winter we have in cheap yana it's
difficult to find jobs here. jose lost his job as a salesman when the financial crisis hit so he packed his things said goodbye to his wife and children like thousands of other spaniards using his last two hundred fifty euros jose flew to munich so i was simply alone in a country in which i tried to overcome the obstacles and finally managed to work for almost six years at different companies that month and i worked in different sectors i thought i would. have thought it when the situation in spain began to improve he decided to return the car to me experts project economic growth of two point five percent this year the unemployment rate went down from twenty seven percent in twenty thirteen to only fifteen percent this year even if many jobs are temporary like jose's. i've worked my whole life as a salesman in many sectors in many service companies i've worked in all sorts of jobs from being a salesman to a general manager of
a company right now i'm working as a. and i don't have a problem with it because i think any job is respectable maybe it will help me in the future. jose has a seventeen hour working day but he can take breaks to go home and see his loved ones he says the future looks bright for him and his family and the best part is they're all back together again. and that was your business week in review. there is an unusual treasure at the bottom of the igi attic seen. off the coast of croatia there and for us they contain wine that ages from about two years customers can retrieve the wine themselves. so what makes this exclusive beverage some
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