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tv   Business - News  Deutsche Welle  October 4, 2018 7:02am-7:16am CEST

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by victims' families. a potentially explosive report in the new york times reveals that the us president is not all that he is trumped up to be an exhaustive report documents that donald trump's wealth came from his father who transferred it all to his children under dubious circumstances. also in the program concerns over the italian economy are keeping the e.u. worried but now it signals it is ready for a compromise on government spending. and there are all kinds of reasons you would not invited a cow to dinner but now there is one less excuse thanks to a cattle feed company in switzerland we'll tell you what that is all about. how you got to get us welcome to the program we begin with some strong numbers for
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the u.s. economy a survey by payroll processor a.d.p. showed strong hiring by private businesses in the united states in september and services firms produced more and hired more workers the national employment report showed private payrolls jumped by two hundred thirty thousand jobs in september the largest gain since february while a report from the institute for supply management showed services sector activity hit a twenty one year high in september the data helped heal son the ten year u.s. treasury note hit its highest level in over seven years. that's clearly very good news for the u.s. economy let's bring in our new york financial correspondent in new york who has been following the story for us and it's good to see you again what does wall street make of these apparently really good numbers. yeah the economy remains hot under this pretty likely that we are actually right in the middle of the longest expansion faces in the history of the country by the way we
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will get more economic reports especially on friday when what analysts estimate will show that the unemployment rate has dropped to three point eight percent and we haven't seen the unemployment rate lower since nine hundred sixty nine so in almost fifty years and wall street does those numbers obviously they're not too scared of higher interest rates even if the movement if you mention it was the yields on the treasury markets are hinting to more interest rate increases but that is not shying investors away we set another record for the dollar jones industrial average if i'm not mistaken it was the one hundred second. record that industrial average since u.s. president. took over office it's nothing seems to scare mark is no matter what news we see when we see all those record levels one are for the other some fear
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overheating or even a bubble are we there yet. well the sky's the limit and so far a lot will depend on earnings that will show if the market is overvalued or not and over earnings season will start next week when the first big bangs will be coming out of the with their quarterly results we will probably get another strong earnings growth for most us call peroration is what we will see if the stronger u.s. dollar is hurting business and overseas market we will see if tariffs will play a role and then also comments will be crucial if we might have seen peak earnings growth so all of those could be factors to be a damper on the stock market at this point it's called here at the york stock exchange thank you very much for the analysis. staying in the u.s. and in corporate news general motors and japanese carmaker honda an ounce to a joint venture that also includes the tech firm cruise to develop self driven
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vehicles together hyundai and g.m. already have a partnership between them for the production of electric cars two car makers want to keep up with strong competition from tech companies to bring truly autonomous cars to the most market. donald trump has had no shortage of affairs and scandals you already know that but now the new york times just revealed a story that could damage the image u.s. president has built for himself apparently he built his image but not his fortune the article from the new york times states that trump didn't become rich as an entrepreneur after all it was largely the result of his family's questionable tax tricks. grown old should show up. u.s. president donald trump likes to present himself as a self-made billionaire and entrepreneur. according to him he took
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a one time loan of a million dollars from his father and used it to create an empire worth billions. but a recent new york times article could destroy that image after months of research the reporters have collected piles of financial files belonging to the trump clan according to the documents trump's father fred didn't just give him a one time loan he regularly gave millions. sometimes in the form of real estate. all told the transfers amounted to around half a billion dollars the transfers to donald trump and his siblings were made to evade paying taxes and the president knowingly took part in the fraud. the allegations may no longer be relevant under criminal law because they were made too long ago but if the allegations are true the city of new york for example could still claim millions in damages and it doesn't look good for the president if he systematically evaded taxes. so it's not surprising that trump had his lawyers state that the
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accusations of tax evasion and fraud are one hundred percent false. to problems on this side of the ocean is italy becoming europe's new problem child some say the italian economy has been an issue for years and now the new economic plans of the italian government are increasingly worrying brussels after italy said it would increase public spending starting next year the president of the european commission john killed you and it of warning the government to scale back its spending instead the markets fear i knew euro debt crisis could be on the horizon. prime minister juiced up a contest main focus is on damage control after a meeting with top ministers the italian leader pledged to shrink his nation's debt burden in a later interview italy's economics minister provided more details he said the government wanted to gradually reduce the country's debt in stages from two point
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four percent to two percent of g.d.p. within three years italy's new debt is a hot topic across europe right now after all the country is the euro zone's third largest economy yet its struggling its national debt is twice what it should be unemployment is high the country's banks stand on shaky ground and the e.u. has long demanded the introduction of reforms but there are still many in italy's populist government who want to increase spending not reduce it it was one of their key election promises. to retreat from two point four percent would mean telling italians you won't retire we won't raise your pension we won't compensate those cheated by the banks and we won't establish a basic income so we won't back down and if necessary we'll explain it in public square as. there's clearly still much to discuss and prime minister contact will tackle the issue again today clarity will be essential for nervous financial
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markets to this week the yield on italian benchmark bombs hit three point four percent and almost five year high. turkey is having some problems of its own it has seen prices increased by twenty five percent just in september the turkish nero already lost forty percent of its value this year and it's not getting any better so before keeping a currency that won't allow you to buy anything people are trying to get rid of it the problem is by doing so they are bringing a looming financial crisis just one step closer. euro dollar british pound swiss franc it doesn't matter these customers just one currency that isn't constantly losing its value. istanbul's exchange agencies are a gauge of turkey's economic crisis more and more turks are losing faith in their currency and rushing to exchange their leader us despite government calls to the contrary and the falling value of the leader is making imports more expensive
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prices are rising and living costs are following suit it's a vicious cycle that's only getting worse in january inflation in turkey was around ten percent half a year later in june it had jumped to fifteen percent and the most recent figures from september show that the crisis isn't getting better last month prices rose by twenty five percent the highest rate in over fifteen years. turkey's finance minister blames foreign speculators for turkey's economic woes saying it was an attempt to cow the country. in the coming weeks he hopes to announce measures to rein in the rampant inflation it's a daunting challenge for years president to on field economic growth with loans is timbales building an expensive third airport and entirely new districts all of those mega projects are being financed with foreign debt and those loans have to be paid back in dollars or euros which are getting more expensive due to the weekly rate it seems a financial crisis is already knocking at the door. before we go
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a new focus for climate change what about looking at agriculture experts have been on the issue for years turns out cows could be more damaging to the environment than we think and a company called hoping to cash in on the problem here so. they might look harmless but in fact they're monsters at least as far as global warming is concerned the culprit their digestive gases now the un's getting involved. they actually the bows from the cows it's a little bit of them thoughts they going to be about four percent of all c o two equivalent four percent of you know gas emissions when we look only at the same which is that one of the greenhouse gases it's about thirty percent. a small business in switzerland says it may have found a solution it produces a feed supplement which reduces the damaging emissions by ten percent for cows according to the company's co-founder a million cows in the e.u.
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already receive the supplement something he's proud of so if they see if we do the math one million counties represent a reduction of three hundred thousand tons of c o two today which will be so little powder supplement with your grass that way says the company even bovines can do their bit for climate protection. that's all for business goodbye. guttmacher. explained. to. her. some such.
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