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tv   Business - News  Deutsche Welle  January 11, 2019 4:02am-4:15am CET

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a legal battle for safer working conditions in pakistan went to court in germany the lawsuit against the german clothing chain was rejected will tell you why it could have set a precedent in the textile industry. also on the show amid protests over what's said to be the longest shutdown in u.s. history president trump cancels his planned visit to the world economic forum. and us all for you slap half a billion dollars in fines on fuel at chrysler as a battle's its own version of diesel gate prices. it's time for business on b.w. m how you know to get us welcome to the program we begin with a case that was supposed to ensure a safer working environments in pakistan german court has rejected a lawsuit by four pakistanis against german discount clothing retailer kick they
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wanted the company to take responsibility for a fire at a textile factory from one of its providers and six years ago the plaintiffs also wanted thirty thousand euros each and damages. the plaintiffs a survivor and three parents who lost their sons won't get compensation retailer kick refuses to take legal responsibility for a deadly factory fire in pakistan and the case cannot be tried in germany. the reason is that the statute of limitations has expired therefore the court cannot decide whether the claims asserted i even possible in substance and amount. in september two thousand and twelve more than two hundred fifty people died in a fire at a kick supply a factory in pakistan the blaze was triggered by a pakistani protection money racket the victims say they want to take to compensate them because the high number of victims was due to a lack of adequate fire protection the textile retailer has long rejected any guilt . these as well. we don't sit at the judgment to be correct and fair in every
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respect the fire itself was the result of a terrorist arson attack that kid could not do anything about. the factory was in perfect condition at the time the fire happened before in. human rights organizations are disappointed who's held accountable when duster disasters in low wage countries local suppliers and the companies they serve. that question remained uncertain indorsement we asked her if the case has had any impact despite the claims being rejected so the merits have not been decided which still means that the whole industry needs to be on their toes because when ever there is a new ticket factory disaster the next claim will be brought and we will again ask the courts to make a decision on liability questions also the case has been putting so much pressure on kik that they were willing to pay in total six million us dollars in an out of
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court negotiation. and i think at least for the german debate this case has also highlighted that we are desperately in need of better laws and make us need to be thinking about supply chain liability of the worlds. u.s. president donald trump has canceled his trip to the world economic forum in davos this comes amid a standoff with a democrat led house of representatives that has led to a partial government shutdown leaving more than eight hundred thousand workers unpaid for nineteen days several hundreds of them braved the cold to protest the shutdown in washington trump's insistence to include funding for a border barrier has led to a budget impasse to shut down the souring investor sentiment amid a broader global economic slowdown. or add for more i'm now joined by our financial correspondent at the new york stock exchange there is that all good luck to you has at least the government shutdown not only causes anger as we
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just saw but also costs a lot of money doesn't. of course they have you're on the bill goes up to one point two billion dollars have per week according to official estimates. some and seems not to be very big in the ground scheme of things but enough to make harder to achieve growth goals of three percent last year for example also to increase attention from credit rating agencies have feature which already. done great in usa credit rating if the shutdown continues for example some directly in front of the economy experts point out today's service has not produced while this situation persists in the end that production is lost forever as government employees will not make up the time lost in the workplace after big oberman reopens so the only worry investors heads are also concerned about the u.s. retail sector and to what extent can we call retail sales as we've seen them be an indicator for other problems in the u.s.
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economy. for now have your it seems that war is don't come directly from the u.s. consumer about that particular challenges confronted by a specific mortar retailers among the disappointments on thursday were same as stores so what sales were flooded in december also macy's tumbled nearly nineteen percent off the day retailer revised down while sales and profit estimates but meanwhile also. holiday sales records last year and according to usa consumers spent over eight hundred fifty billion during the holiday season so it seems that the option that killed retailers like toys r us and it's holding sears to buy up the red also poses a significant challenge still for some big retailers here in the u.s. challenging times ahead thank you very much in new york for the latest. and you just heard cirrus as of course one of the retailers in trouble but there may be hope for there's additional american retailer the department store chain is
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facing liquidation as part of an ongoing bankruptcy process but now the head of the sears holding company has submitted a takeover bid worth more than five billion dollars in an eleventh hour bid to keep the company afloat company will consider the offer which could save around fifty thousand jobs during a bankruptcy auction next week. on two new with more corporate news because like a german car maker for its fee its chrysler has also fallen foul of u.s. authorities and the diesel emission scandal it's now due to pay more than five hundred fifteen million dollars in settlement the u.s. italian company is accused of using illegal softer more than one hundred thousand of its jeep cherokee s.u.v.s and ram pick ups it however denies any wrongdoing the settlement is a far cry from folks like the german automaker let's not forget has already paid more than twenty billion dollars in the u.s. alone while fewer chrysler says it will issue an emissions we call for the affected
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vehicles but will not offer to buy them back. to delhi correspondent my actuator has been following this story for us in washington my it's good to see you now let's start with the basics this all sounds very much like these old gates scandal where the company as we know used illegal software to alter emission levels so why is it chrysler settlement so much lower. a lot of this has to do with the volume of cars in the u.s. chrysler simply sells far fewer diesel cars than volkswagen does and diesel cars are far less common in the us than they are elsewhere in the world the number of cars being recalled is also far less than what you had to deal with i think v.w. had to recall or even buy back six hundred thousand cars and chrysler will only
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have to take back around one hundred thousand but it's also there's a very different way that the scandal affected both these companies whereas if you w. the it was the top executives who were aware of this cheating software that was part of their cars and they specifically built this software to circumvent testing and make it look like they were pushing down emissions when in fact they weren't at chrysler in fact what it was was the company that makes the software that regulates these things in cars bosch just snuck of the software into the cars out chrysler knowing which is part of the reason why they're there pleading not guilty they're found out guilty and prosecutors are not pushing further with this but let's talk about the customers because we know as you mentioned it's fewer cars in this case it's also for customers probably but has there been any reaction to these revelations from effect to customers. well i'm sure if you're a chrysler car owner this is going to be extremely annoying but fortunately there's
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only two models of cars that have been reported to be affected by this recall and it's just models that were built between two thousand and fourteen and two thousand and sixteen so again in the grand scheme of things not that many cars will be affected and chrysler in as part of this package this this payout that they're giving out they are setting aside between two hundred sixty and two hundred eighty million dollars specifically to compensate their customers who will have to have their cars recalled it started very small at that time and folks like us well let's see how this one goes thank you very much mark of twitter in washington for us. and we stay in the auto sector speaking persis precisely about because the company together with ford will join forces to develop new technologies the two companies are set to unveil details of a deeper alliance at the detroit auto show which is starting next week sources
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close to management say the carmakers are hoping to fend off rivals in electric and autonomous driving among them software companies like google another reason for working together the continuing trade frictions between the u.s. the e.u. and china v.w. and ford have said in the past that any alliance would not involve a merger. we've heard similar claims before though now before we go it's one of the most iconic buildings in the city that never sleeps manhattan's chrysler building is for sale again ten years after amorality investment firm to move choir to the arctic cold landmark building for eight hundred million dollars the current price might be a bit lower according to experts despite having many fans the building is competing against a slew of much younger more modern buildings attracting solvent clients opened in one nine hundred thirty and standing three hundred nineteen meters tall the chrysler building was once the world's tallest. that's all for business thank you
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for watching i'll see you next time good bye.
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