tv Business - News Deutsche Welle October 18, 2018 7:15pm-7:31pm CEST
to decide not if he's guilty but if you spin to faint by these accusations of sexual harassment. this is day doubly news still to come attack scum that ran for years and sold european banks train billions of euros from national treasure it has been found to be even bigger than previously thought. and has a little hot story in business and on the back of the top of the hour we're going back. to it was a human made cataclysm. the first global disaster of the twentieth century. more to end all wars cost millions of lives. world war one. marks the hundreds anniversary of its end. what is humankind learned from the great war. as it learned
anything at all. is real peace and possibility. nineteen eighteen not forgotten w.'s november focus. even bigger and more intricate a report on a mast europe wide tax scam reveals just how much taxpayer money was siphoned off by rich investors to make themselves even richer. what would a full english breakfast be without the bacon pledge you know how breaks it could change brits eating habits. and be on bags that beanie you seeks asian support for free trade sticking it to washington. i've been for
a business tax scam that spring to be even bigger and even more intricate the store a report today revealing how a mass europe wide scheme by banks and rich investors siphoned off taxpayer funds to make themselves richer. and. some insiders call it organized crime in pinstripes they're referring to the controversial but at the time legal dividend stripping transactions and negatively carried out by almost every major european bank starting in two thousand and one investors would rapidly sell it to other stocks around the days companies paid at dividends the capital gains tax on the dividend was paid only once but the multiple short term owners claimed the tax return the shares changed so quickly that tax authorities were unable to determine the real owner so all of them were able to claim a tux rebase according to
a tax expert germany's tax office could have lost at least thirty one point eight billion euros the amount was previously thought to be around five billion the new estimates suggest france lost at least seventeen billion euros italy four point five and denmark one point seven billion euros at least six other countries could also be affected. the fiscal loophole was closed in twenty twelve but many questions remain unanswered such as when germany informed other countries about the comics dealings the case is firing up those demanding stronger eat you financial oversight. in frankfurt what's that mean that all these big banks as i mentioned before are involved. well you know there was big pressure from clients but also from top management to do as the other guy did in order to make more profit and offer clients a better return people saw that others were doing it and were getting away with it
and so i think beginning at least also with ambiguous wording. in the legal wording of it there was not much let's say in the way of preventing people from realizing that they're taking a risk so there were lots of banks in there and i think the more that joined the fray the less the areas were for others to to actually be the last ones and now these fraudsters or very tricky investors whatever you want to call them they used my taxpayer money you'll taxpayer money as well we're going to see it again this is . i don't think we're going to see all of it again because you know the people who did this they're smart and i don't think that people who did this kind of thing would have it lying around on a normal current account and. have it under their real name they would have
invested it possibly in tax havens we've seen in previous investigative journalists works how hard it is to decipher that how hard it is to get behind money that's been laundered and maybe very difficult there's one key witness for the state apparently according to the reports that we got today who was profiting in the way of fifty million euros a guy that smart guy that greedy i doubt that he'd readily have the fifty million stashed away just to be ready to give it to the authorities in case there now will be thirty eight journalists from a dozen european countries pulled over one hundred eighty thousand pages of files to uncover these fraud why will report is discovering these what went official. well the journalists were able to devote their time and lots of resources to this plus they had the advantage of journalism whistleblowers sources coming to them and telling them something totally different than what prosecutors and financial
supervisors are up against plus the authorities i've heard this again and again when i talk to lawyers prosecutors. financial supervisors they can't match the kind of money that's made in corporate law or investment banking when they hire new people. first in frankfurt thank you very much. break that talks in brussels around on its e.u. member is now looking to match next year when britain leaves the single market and customs union a big issue for the netherlands two two the large volume of trade with britain via the port of rotterdam the dutch ministry of economic affairs has designed a checklist called the brig's it scan to help companies cut. every day at one on the dot the daily fresh company is in a hectic rush. dozens of trucks deliver fruit and vegetables tomatoes pears and strawberries from the netherlands in belgium the warehouse near rotterdam looks like a map of great britain melons to glasgow onions to edinburgh peppers to manchester
and liverpool every day daily fresh sends one hundred twenty trucks by ferry across the english channel every minute in the supply chain is precisely timed but people here fear that could all grind to a halt of brittany's the e.u. without a trade deal. eudore sort of overall control would have to introduce controls on all products especially vegetables and fruit sanitary checks for customs papers and that would be a real setback for us because the british and of the third largest importer of dutch vegetables all night long authorities at the port of rotterdam aren't thrilled about the prospect they handle a large part of the trade with great britain almost ten percent of dutch exports go to the united kingdom officials have long calculated what a hard bricks it would cost instead of one paper nine more customs forms would be added for the export of fruit and vegetables nine hundred new customs officers would have to be recruited plus one hundred forty three veterinarians for the food
checks and that would only be the beginning says the briggs an expert at the port of rotterdam. the terminal so at the border the vessels we're in the process of getting ready were informing the container terminals in the forwarders but that's not enough because most of the goods twenty five percent of them come from germany and we don't have the feeling that exporters in germany are as aware of bricks of problems as we are here. in fact the dutch ministry of economic affairs has sent a checklist called the briggs and scan to thousands of companies to better prepare them for possible problems run by mints filled out the questionnaire but it hasn't made his worries disappear the stone dealer imports slate from wales and sells it to garden centers some of them in germany he expects rising prices and a fluctuating british pounds he's already made provisions of his own way by storing three times the amount of coveted blue slate from wales now he has all he needs in
case britain is slated for a hard break sit. bread it could be a threat to the full english breakfast the slap up feast of sausages eggs putting ad bacon it's well famous but here's the rub denmark is the number one breakfast bacon supply of a britain and it's an e.u. member state which the u.k. won't be next much. what a classic british breakfast be without it they can and often enough it comes from danish pigs courtesy of pork specialist he's in factories. they've been keeping british tables full for over one hundred years with up to ten thousand pigs a week the u.k. is home to the most important customers but that could change after bricks it. becomes an altar of this if no agreement is reached then will be forced to send products to the u.k. with a duty of approximately forty percent. forty percent that could soon be passed on to the customers. which is what i think that british consumers will get
a wake up call they still want the same amount of bacon as today when the price will become considerably higher. and pretty soon c.e.o. that means his company's exports could soon be under pressure but he hasn't given up hope for a deal that suppliers and britons can live with. well despite what you hear all the time about global trade falling apart some countries are coming closer together europe is strengthening its ties with asia e.u. and singapore signing a new free trade agreement during the summit and the european commission has approved another free trade deal for the bloc it's time with vietnam. real hawaiian from spain look for cheese from france and parma ham from italy only three up nearly one hundred seventy products that will enjoy the same trademark protection in vietnam as they do in europe the new free trade deal with yet numbered also by english all existing customs duties the european parliament and each of the e.u.
is twenty eight members must still approve the deal and some concerns about the political implications have been voiced but the e.u.'s trade commissioner understands there are severe problems regarding human rights in india nobody denies this we have talking openly about this with you can these counterparts and the trade agreement will not of course make the fully fledged democracy overnight that it is one in in the two books that we have in our relations with vietnam and other countries a similar free trade pact has already been approved by e.u. member nations and singapore that what is scheduled to be sayd that a meeting in brussels on friday if the vietnam deal is also approved the e.u. will have free trade with two of its biggest partners in the asean group of nations . and just briefly the list of senior business leaders and policy makers dropping out of saudi arabia as future investment summit this month continues to grow the
latest is u.s. treasury secretary steven minuit should he made the announcement after meeting with president donald trump shares in new york dropped after the news is the spec that murder of a saudi journalist in istanbul has soured relations between washington and riyadh. liason business with a. twenty .
one tree government international talk show for journalists discuss the topic of the week the street of saudi journalist jamal khashoggi has caused global outrage and has focused attention on all torture in regimes that increasingly use murder and abduction to silence star credits we're talking about that straight ahead on foreign.
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us on facebook w africa. like we were. when we were. eighty percent of americans at some point in our lives will experience hardship listening. it's. a very warm welcome to this edition of quadriga the international talk show coming to you from berlin i'm brian thomas great to have you with us over the past year there's been a sharp spike in the number of state sponsored killings of journalists and government critics now although the details are not yet in nor are they completely confirmed it appears that the most recent victim is the late washington post columnist. and influential critical.