tv Business - News Deutsche Welle November 17, 2018 6:02am-6:15am CET
can you do you drive off into the sunset and leave diesel gate behind it shore trying investing forty four billion euros in electric mobility the world's largest comic is pushing for an unprecedented cultural revolution in its eighty one year history. and is the world really on the brink of a new cold war in trade without the stark warning from the french finance minister pointed out that. this is your business update on having a home free and glad you could join me he wus trying to put the days of a scandal behind it once and for all by announcing its intentions to become the number one call make in the world when it comes to electric my ability and it's putting its money where its mouth is investing forty four billion euros into the project over the next five years but will that be enough. after hours of discussion the supervisory board give the green light for the future plans and billions of euros in investment folks working c.e.o.
have a decent announce the ambitious plans. he often see fit to be your foot we are sending new signals we're focusing on green mobility we're increasing investments in this area and we're considering participating in battery production and introducing many new electric models. according to insiders negotiations are already underway for a partnership with the south korean battery so manufacturers. v.w. like all german car makers has had to buy batteries in asia so far and a lot is about to change it folks wagons existing works three locations in germany will be converted into electric car production sites and v.w. is making a substantial four billion euro investment in china to. where's the money coming from was dug deep into its own pockets to finance the plan but it could cost some
employees their jobs electric cars are far easier to build than combustion engine models but the company doesn't have many other options. plans seem to be made of equal parts optimism and drive the timing is right when other countries like china want to phase out combustion engines within the next few years and they'll be playing catch up with other manufacturers like tesla which are well ahead when it comes to the mobility. the world is on the brink of a new cold war when it comes to trade that's the stark warning from french finance minister pournelle amat he says countries like case being caught in the crossfire of a battle between two economic giants mare's comments came at a conference on reforming the world trade organization the very institution that u.s. tariffs seek to circumvent hundreds of billions of dollars in goods are now caught up in levies and countermeasures between the u.s. and china the u.s. started the fight hoping to lower their trade balance. but the measures have since
ensnared global supply lines injecting uncertainty into global commerce and cutting into company balance sheets said. this is open war and trade will be an economic suicide for the whole world will remove. it's just will do it but it is it will in the destruction of values and jobs and i refuse to let that happen and there are only losers in this economic war. it is unjustified it isn't justifiable and it is quite simply stupid. stupid bringing the u.s. back to the table means reforming the w t o participants and that means that china was economy has grown significantly since the mission needs to give a little. china has worn out from the w t o system and we call upon china to show leadership and to engage with us to reform and to update the system another appeal for compromise in
a growing conflict. of staying with trade and us president donald trump said on friday that china has sent a list of measures it was willing to take to resolve trade tensions with the u.s. he stated further that his ministration may not have to impose more tariffs but that he was still holding out for a few more concessions from the chinese adding that he expected them to give it the u.s. has already imposed sanctions on chinese goods worth two hundred fifty billion dollars the suggested the additional tariffs worth two hundred sixty seven billion dollars could be avoided if the missing demands were met. so let's bring in a financial correspondent in new york now yen scooter yan's trump seeming to claim that china wants to make up can we trust that. well there has been some relief here on wall street when u.s. president donald trump claimed that he does not want to put china in
a bad position even right after wards why tell us officials said that it's far too early to tell if a deal is really on the horizon one thing that is also on stake is their tariffs that are already in plays on imports from china and the amount of two hundred billion dollars will be increased from ten to twenty five percent by beginning of next two years so there is still some hope but i guess we really have to wait and see till the next g twenty meeting by the end of the month. when donald trump is going to meet his counterpart to see a ping besides the relieve that we saw here on friday is still the fear of higher tariffs higher interest rates and keep markets nervous and for the week the dow jones industrial average lost goods to a percent in value the ends quarter thanks a lot. about carrying capital safiya seems for vide
a friendly landscape and it's becoming a hot spot for startups and a growing number of the founders are women. this basement in the bulgarian capital sofia is where it all began angela even over works in a photography in printing store her friend illustrator gonna start cheever gets her work printed here they decided to write a children's book together. but they got stuck in the middle of it. and i want to make the whole book. combustible you know clean free and we started looking into the actual process how to print it we couldn't find lamination that is impossible and toxic free or anything like that anywhere in bulgaria we started looking for companies outside the bulgarian europe going to find anything there as well. so they teamed up with a friend to start their company lam on in a print shop the first prototypes of their biodegradable laminating films are being
made it's a one hundred percent composed of a bio polymer. sophia's becoming a breeding ground for startups a number of e.u. programs provide funding for initial investments. the fledgling companies often settle in co-working spaces like beat a house that rent out office or studio space to fashion companies software developers and other startups sofia's been called europe silicon valley there's plenty of potential says beta houses chief operating officer you know very good software engineering talent in the country so you've seen so far so many companies foreign companies open their offices on salaries here in. and you know. you know the tax policy of the government there you know you know very competitive more than twenty percent of start of founders in bulgaria are female like these two
women next year they hope to launch their composed of all print products on the european market. and a player in the way for more women to become entrepreneurs is also a topic at the un's women's entrepreneurship summit is just getting underway in new york and our correspondent maya is that my study found that from all the venture capital invested in startups in the u.s. last year female found those received a miniscule two percent why they don't really give. it's interesting to see that and also it's not just that it's a venture capitalist when meeting with entrepreneurs tend to ask different questions than i would ask a male entrepreneur instead of asking. how are you planning to attract customers they'll ask a female entrepreneur how many customers you already have instead of asking what's your business model though say how much money have you already raised there's just this stereotype and these barriers that a lot of female entrepreneurs have to overcome to even get their foot in the door
with a lot of venture capitalists which is something that is a big focus here at women's entrepreneurship is something that a lot of people in this room are working to break down so there is a day there is a summit where you are right now i mean what is this meeting actually doing to help more women found their own company. well it's not just the summit where i am there actually parallel concurrent some it's happening all over the world even in germany and while there have been a lot of panels speeches an award ceremony just now there's also been an auction going on throughout the conference here i've just heard has raised so far one hundred eighty thousand dollars to finance micro loans to between one thousand and three thousand female entrepreneurs around the world so there is an actual fund raising effort happening here as well beyond simply just a great networking opportunity for everyone in this room and the ages range from
teenagers high schoolers all the way up through a venture capitalists and elders of state shall we say who have had a lot of experience in the field already i'm any heavyweights attending the summit . so we've seen two big names one of them is princess natta louise of norway who was here to receive a reward for her work with the foundation for disabled children another one was the fashion designer and if so we but we really don't see any hillary clinton's or marissa mayer's here right now it's still a fairly young effort and this is only the fifth year this has been going on and really it's it's just a networking opportunity right now for people who are maybe just starting out don't have the connections yet to meet with people sort of at a similar level swap stories swap ideas and build themselves up from the ground fifty eight but hopefully gathering steam all correspondent my story to a new york for us to talk to thanks. that's it for me and the team here thanks for
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