tv Business - News Deutsche Welle September 19, 2018 7:15pm-7:30pm CEST
lana christof koch is up next with all the latest business headlines for you and i'll see you at the top of the hour. coach of living. your link to news from africa and the world the link to exceptional stories and discussions from the use of these each and i would say deputed comes to africa join us on facebook t w africa. germany state by state. the most colorful.
the longest. the most traditional find it all at any time. check in with the web special. take a tour of germany state by state on d w dot com. more. days to go are getting low in just over six months until britain the leaders of the european union and his prime minister tourism a says a withdrawal deal isn't science well she writes also the program breck said beneficiaries of the quintessential british bred jaguar wants to run a production in slovakia while in their u.k. factory one thousand jobs will go. i'm chris of coburg good to have you with us now writing in a leading german newspaper. today british prime minister tourism a says the u.k.
and the european union are close to agreeing to an orderly breakfast after back said she wants a u.k. e.u. free trade zone for goods including agricultural products but not for services you officials have rejected her plan is cherrypicking may is setting out her case for the future relationship to other e.u. leaders at the south sports summit britain is due to leave the e.u. as early as next march. and for more let's bring in karen jones he's an economist at lancaster university in the u.k. gerund welcome to the program theresa may wants a free trade deal including goods but excluding services what do you make of. all of christophe yes it's an interesting proposal that's come out of checkers the prime minister's country residence and it's the deal that she has agreed with her own party of government in the in very different voices from different parts that government arguing for different types of breaks it and so this is
a kind of compromise that they've reached amongst themselves as the governing party in the u.k. this is what the case proposing to the european union the should be essentially a common rule book that covers goods so that goods stay in something that is like a quasar single market but not for services the freedom for the u.k. to various regulations in the arena of services so it's a bit of a clunky arrangement clunky also in terms of how the the customs arrangements would work with different countries collecting customs revenues for each other which is the really bureaucratic obviously now why would services be exploited from this idea. all the people who keenest to have a brags it would want to keep clean gregg's the detaches the u.k. entirely from european regulations but on the manufacturing side covering goods it's become clear that that would be very difficult for british companies
that export into europe because a lot of them are involved in supply chains that straddle across the boundary between the u.k. and the rest of the european union with goods in various intermediate stages of production going between firms in different countries and with just in time production being involved in this not having freedom of movement of goods would be extremely difficult for produces in that manufacturing sector and i guarantee you talked about a compromise in the prime minister's party in the u.k. now from the e.u. is perspective such a trade agreement can only be signed once there's a withdrawal agreement but the issue of northern ireland is still not resolved how sensible is it to talk about trade at this stage. well that's very astute of you from i say so christophe because there are two things two separate things involved here first of all this the withdrawal agreement that needs to be signed and that is
the urgent thing that needs to be done now by the end of march when britain leaves the european union and then secondly there is the trade agreement and the two sides to these negotiations seem to have been taking a different line completely so the u.k. seems to have been saying if we can get the trade agreement sorted out then that will involve things that will reassure the european union about things like the border in northern ireland about the freedom of mobility of goods across the border specifically meanwhile the european union has been taking a different tack and has been looking at well where can we put border arrangements in place so it now is coming back the indications are the michel barnier is going to propose this not a border at the border in northern ireland put customs checks and other bits appear ocracy done elsewhere in the market and open up some scope for the negotiations to
move ahead aaron jones economist at lancaster university thank you for your insight now britain's imminent exit from the european union is already casting a shadow on british industry now jaguar is falling down production in this plant in birmingham owned by indian economy. jaguar says up to one thousand jobs in the u.k. could go at the same time it's ramping up hiring and production and slovakia. the city of need. is already profiting from brags that india is trying to motors is building a factory here at a cost of one and a half billion euros. touch has chosen to open a manufacturing plant where traditional british brands like jaguar and land rover will be rolling off the production line. the investment will create around eight thousand new jobs in the area. when the company gets a very good economic boost for our city most people here think the factories
a very positive thing because it will lead to more economic development for fifty. or so before fear of if you're not with tatas new factory is located close to many suppliers the german company poses for example manufactures door components it's expecting to get business from jaguar and land rover compared to britain and germany it's an extremely competitive location. the moment it's india here at the moment an hour of work costs about a third of what it does in germany in the next ten years it will probably be more like half. slovakia has become a hot spot for the european car industry new manufacturing hubs are opening up and existing facilities are being expanded. car companies operating here will be able to continue to benefit from the freedoms conferred by the membership of the e.u.
the large scale investment has made it difficult for some companies to fund staff folks wagon recently agreed to resellers to encourage its workers to stay. on from these as there was a four point seven percent rise at the beginning of the year and at the end of the year they'll be a further four point one percent rise in. touch as management is warning that a no deal brags it could prompt them to move more jaguar and land rover production out of the country a move that eastern european countries like slovakia would surely welcome. the c.e.o. of then marks largest bank thomas borgen has resigned over his role in a money laundering scandal he had made it to that back had done too little to stop the flow of illegal catch between. two thousand seven and twenty fifteen the a stony and branch of the bank handled around two hundred billion euros from suspicious russian sources moving it from one account to another the bank's
chairman said he too planned to leave his post soon following one of europe's worst ever banking scandals. now let's bring in our financial correspondent. daniel this scandal has dragged on for quite a while why did it take so much time for the c.e.o. of dunster bank to step down. well we are learning that it was probably the case that inside of the lender many felt already for a very long time that something was just you know gone wrong or they had internal investigation but it seems that many warnings were ignored and initially nobody was willing to report what was going on after the news was breaking shares of the bank fell today by eight percent the current c.e.o. will remain in office until a new one will be and charge and it seems that they will be a lot of topics on the edge and now they are promising of course to make sure that a situation like that won't happen again now investors seem upbeat today give us
your wrap of thursday's trading session. yeah exactly a plus here half of her stand at the level of twelve thousand two hundred and nineteen points at the blue chip index that says how the trading day finished here the biggest winner today is linda and the reason why is that happening because it seems to be the case that the merger with the u.s. american giant praxair could be approved by authorities in the united states therefore we see a big plus here of eight per cent of course the trade conflict is certainly still an issue but we have not heard any new strong rhetoric neither from the chinese nor the american side also the dow jones in the united states has been helping today a jump during the trading session over zero point seven per cent and reaching a six month high there in new york and besides the trade for brecht's it is a big topic here as well even though we're hearing about
a possible new breakfast summit in november many investors are not very optimistic that a bracks a deal will be reached then your hope and thank you so much. turkey has slashed financial requirements for foreigners wanting the country's citizenship under the new rules the amount of required fixed capital investment has been cut to a fourth from two million to five hundred thousand dollars the size of bank deposits was cut from three million to half a million dollars the cuts appear to be aimed at boosting foreign investment flows and propping up the ailing turkish lira. tesla has confirmed the u.s. justice department justice department has opened a fraud investigation after c.e.o. elon musk tweeted last month that he wanted to take the electric car maker private and has secured funding to do so tesla stock jumped on the news before musk then backed off talk of going private normally such
a huge company would have to explain plain plans like that to regulators the securities and change exchange commission s.e.c. is also looking into allegations musk manipulated the stock with this tweet tesla's shares are down almost as a third since the initial tweets. and that wraps up our show if you want more to check out our social media feeds for now for me and the entire team here in berlin thanks for watching.
enjoy the conflict zone confronting the powerful this week conflict zone is going to be an up to talk to us from foreign minister. she was nominated for the post by the end of a gracious and while we in the fall of the executable although she is not a member of the policy thought to be a few o's policy she's mecha views conflict so for. d.w.i. . or. the
contentious figure at home. she wrote in germany. from the phone off. to german unification. of the cold. lunch office was pretty cute most of the twentieth century. because. the last leader of the soviet union was an agent of change. quickly met his downfall. i had decided to resign my duties as president of the soviet union. last fall but she's the one historical i'm sure of one because of course. she continues to fight for world peace with the
reminder by the minute we have to comprehend where peace has taken us or for today there is a new arms race. out of time. and the opportunity for peace wasted starts oct third on t.w. . this week conflict zone is in vienna out to talk to all the strength foreign minister. she was nominated for the post by the end the immigration and right wing policy f b o although she is not a member of the polity but who the f.b.i. always policy views and how does all of this affect all stressed place in europe.