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tv   Business - News  Deutsche Welle  December 29, 2018 2:02am-2:16am CET

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another choppy session to end a wild trading week the ups and downs on wall street drive traders mad because so much uncertainty about growth that a whole raft of geopolitical challenges. white hot juicy burgers could help resolve the u.s. is government shutdown. and we get out the crystal ball to gaze into twenty nineteen could it be the hero of the crash. i've been physical and let's do business one wealth managers summed it up quite vividly convulsions in either direction have been the real long this month the uncertainty over future global growth and many other pressing issues have investors on edge and just when some traders thought the year would end on a high note. spirits may have been high at the beginning of the week but few can imagine what christmas eve would bring the dow jones index falling by almost three percent to under twenty two thousand points sparking talk of the worst december
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since one nine hundred thirty one behind the collapse uncertainty over the course of the global economy with the u.s. trade dispute with china looming large the following days were volatile with markets doing an about face on wednesday investors use the price dipped to buy a new and the dell furiously made up some lost ground its one day gain of five percent is the biggest ever jump in the indexes history. thursday saw another surge this time late in the day placing the dow on track to in the week with a game that appeared unlikely by midday friday as investors played it safe with the dow see sawing between mild gains and losses analysts said the light volume of trading and computer driven trades were behind the volatility but also the budget dispute between u.s. president donald trump and opposition democrats. so official maskey joins us now from new york sophie which companies made the biggest headlines in twenty eighteen
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if we take a little look back. well ben i would like to bring up tesla definitely and even tweeting he would be taking the company private at a huge premium but then it became clear that the funding with not secured as market claimed in his tweet so the f.c.c. started investigating and now musk is not the chairman anymore he is still c.e.o. though and just on friday tesla named two new independent chairman to its board and the other company that comes to mind is apple in the first half of the year the effort to make a with quite busy with buying back its own stock like so many others fueled by a large tax windfall but this was not a good investment to be on this s. the stock fell on sluggish i fundament so many worries here around apple and then we had facebook and the cameras and the letter because scandal and other drama wall street to be honest lots of culprit drama actually exactly the same here on this side of the atlantic protest apple and i knew you were going to mention facebook so
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what were the most important stories for investors would you say. well in general i think it was the year off the fang a company is not being investors favorites anymore to the word to best suspect the year on wall street would probably be volatility and let's see if either of them that we had a solidly growing economy positive aspects of tech help the labor market lowest inflation and effect that felt so confident about the u.s. economy that they did not raise rates three times before times then again investors are worried about how the trade through lation shift between the u.s. and china are going to turn out and lastly the u.s. is going to end this year with a huge amount of debt one point four trillion dollars more than a year ago and these problems are definitely going to linger in twenty nineteen but . there's a lot to worry about thank you very much so if you're at the new york stock
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exchange. it's been a troubling year. wrapped up during the last session of the year in frankfurt. sent us this report. what everybody here is. going. to move. for the. twenty percent. more than most other major markets.
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right. here in. europe. over the. business reporters. have had a rough year but it's been a busy year that's for sure a lot of corporate scandals to talk about a lot of german corporate scandals to report on and a lot of german corporate stories that weren't really scandals but really got people angry or frustrated or excited. well personally i would like to highlight the buyer monsanto deal that was of course a sixty billion dollars strong deal that saw the world's biggest company merge with alert the world's largest pesticide company so you basically had
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a single entity controlling sixty percent of the world. it's proprietary feed supply and cornering also a big chunk on a chunk of the market on farm data so that basically has a big impact on who farms aware what a big impact on food supply and i feel about that something we should all take seriously at the end of the day we all need to eat exactly what it was the biggest german foreign takeover and one of the biggest topics about time we're talking about food security which is huge not only in places like africa but all around the world stephen is this something that we haven't reported on this year widely enough that we should have been i think there was actually something earlier this month that was easily overlooked by a lot of other stuff going on especially the brics a negotiation and that was the euro zone financial reforms that were taken up by the e.u. council what was on the table there were things like a common budget for these one thousand asians that share a common currency but not a common fiscal policy so common budget common finance minister and deposit
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insurance these were all seen as very important policy additions that can help strengthen the eurozone especially looking back at what happened to greece in two thousand and nine is be something to shore it up and there was this great window that was seen with the election of across with medical with the ability for this franco german sort of engine to drive this policy change policy change through and instead what happened was basically the strength in the bailout fund the european stability mechanism and all the other stuff sort of got pushed and sort of tabled and there is actually a huge debate between northern and southern european nations about sort of what they want the euro zone to look like because that's what happens to boring stories . they become more interesting but yeah but you know so much of our closer to europe right i feel like this is really significant as well exactly we'll see what happens in twenty nineteen we'll get back to you and stephen in a moment firstly to the united states where the partial government shutdown is said to continue into next year over three hundred thousand workers face unpaid leave which is why the owner of a burger joint in washington is trying to do his bit to ease the pain. caught juicy
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burgers with melted cheese could they be b. and c. to the current government shutdown the owner of this burger joint in washington d.c. think so he's handing out burgers to unpaid government workers with the aim of drawing politicians with the free food. we hope we can get a politician. it can sit over the ice. and have made this thing out and get these people back to work this isn't the first time the burger has handed out free food in a government shutdown during the last one in twenty thirteen the joint gave out fifteen thousand burgers in two weeks that almost put the owner out of business this time around he says he'll take it day by day. back to jenelle and steve and time to look into our crystal ball if you're wondering what this is it's more of a disco ball because something like every feeling says about you got it so no dancing eyes but some serious analysis ginnell starting with you what are we going
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to see happen in twenty ninety well there certainly have been a lot of fears and you know the boom and bust of the phrase boom and bust cycle gets thrown around a lot but it doesn't necessarily have to be an immutable law so few seem to think that a crash really is imminent even a few more a few more seem to think that a recession is coming but few really agree on where and where on the spectrum economic performance is going to find itself but what people seem clear on is that it's not likely to get better the international monetary fund has already said as early as october that global growth is set to plateau in twenty nineteen so talk of a recession in twenty twenty but twenty nineteen could that be the year of the crash stephen i think it's a bit overstated to say crash right i mean it's a very dramatic term and we've looked at the stock market sort of how volatile it's been recently it makes it easier to talk in terms of crash what we've seen really is an overheated u.s. economy that's really driven so much global growth maybe to its limit and now we're
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going to see is those waters receding and i think the real problem we have to look at is what does it mean for those who haven't fully recovered from the real crash or the recession of two thousand and eight two thousand and nine that lasted until what doesn't fourteen i mean not everyone has really recovered from that and now about to go. to be exposed again potentially so i think we are going to see lower growth but probably still growth throughout much of the year but at a time that the european central european central bank and other central banks don't really have the tools to fight a recession or or a more rapid slowdown i mean they have strengthened certain mechanisms like retirement the mechanism the european stability mechanism they have strengthen things they check on the capitalization of banks a little bit more for example but there are still a lot of bad loans that are bad debt that's being held by banks and that is a huge concern you're absolutely right stephen basically thank you very much for gazing into our disco bowl to show us to is what you.
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