tv Business - News Deutsche Welle March 5, 2019 9:30am-9:46am CET
checking how much we'll be able to play and who will win. we believe that renewable energy. future. but you political. story. don't. you. call a listen both cars go on is to remain in prison look for the time being that's after japanese prosecutors appealed and early a court decision that granted gold released on bail. also on the show beijing an ounce was tax cuts at the national people's congress in a bid to bolster the country's cooling economy. and the automotive world is focused on geneva this week as manufacturers bring their latest ideas to europe's
top car show. elon welcome to a business i want to get jones in berlin good to have you with us dale or no big deal is for man this is going to be released from prison or isn't a japanese prosecutors have appealed a court decision that approved a bail request for the former chairman of nyssa motors and that's just minutes after gold's lawyer appeared on japanese television saying that he welcomes the court's decision to grant a bail goans been in jail some three and a half months and his bail has been set at nearly nine million dollars gold was previously in charge of the unknown is on mitsubishi also alliance and was indicted in japan over allegedly falsifying financial reports and a breach of trust he denies the charges go and release now hinges on the court's decision on that appeal. so very complicated stuff let's bring in our market correspondent ali frankfurt's to find out what
they're making of all of this i mean what is the verdict in frankfurt what are people there saying about all this. well they're following it closely because it's such a high profile case and because everybody knows about the troubles the alliance is having now and going was an icon in the auto industry he forged this alliance and made it very successful rescued this on basically and propped up bruno and then this a lot of people who had been critical of going for amassing such power were not all that surprised that he fell and some were glad you know seeing hubris and greed didn't retching himself but as the story progressed the perception seemed to turn that indeed there might be a conspiracy at hand here in removing him you already mentioned some of those comic is next on the renault mitsubishi i mean where does it leave all those comics. yeah they're up in the air basically you know you have individual leaders that nessun
and it's officially under no gone has been replaced and functions he's held there but there's no leader for the alliance the three way alliance as a whole which go on also supervised and there's a power struggle going on between france and. japan over control and over the future of this alliance and that's basically paralyzing the companies not on the inside but i can only imagine what it means both to the executives at the top and at the next level down all the way to the worker at the assembly line wondering where they're going with that company i too early votes in frank's it's thank you so much for this. all eyes on beijing these days as the other while national people's congress gets on the way where the government on their huge tax cuts made slow in gross stocks headed into the break on tuesday barely moved as investors held their breath for a breakthrough in the china u.s. trade talks of the focus of the opening session today was china's stuttering
economy beijing cut through growth forecasts to six point six percent in twenty nineteen a three decade low and it announced tax cuts with several hundred billion dollars. told delegates the country faced a quote tough struggle. now the chinese economy may be slowing but there is still enough cash around for chinese investors to look for a bargain in greece they've struck gold the country's attracting chinese investors with rock bottom property prices and one of europe's most generous golden schemes offering a renewable five year residence permit in return for a two hundred fifty thousand euro investment in real estate truly a bargain. by some property and we'll give you a passport these are posted right outside the greek parliament in athens.
and for many investors from china russia and turkey in particular they offer a pretty sweet deal. invest two hundred fifty thousand euros in greek real estate and the entire edu will be open to you that makes greece the cheapest country in which to buy an easy you passports. the head of enterprise greece which is pushing the program insists it's not as simple as it sounds. the embassies and banks investigate the applicants thoroughly. they check their c.v.s. and acids. some of the checks can take two years i'd be surprised if there was a single case in which illegal behavior was uncovered but a golden visa was issued nonetheless. visa. the golden visa business is a ready booming on demand only seems to be rising. the cost of pence's is
a real estate agent today he's at sky saying with his chinese business partner. he doesn't consider chinese restrictions on capital outflow a barrier to buying property in greece. we don't have this restrictions right now but. neither the chinese consulate nor the greek financial regulator responsible for investigating money laundering were willing to answer our questions. many chinese investors choose to buy property here in column nucky an exclusive district in the capital athens their apartments are often left empty. greece has handed out almost ten thousand passports to foreign investors over the last five years those
purchases have brought in roughly a billion euros for the treasury. yes greece is once again bringing in investment including from chinese russians and turks as part of the golden visa program. but the source of all this money and the character of those who are buying into real estate here from places like china needs to be checked they haven't been asking enough questions. in the past accusations of corruption money laundering capital flight and tax evasion have accompanied this a live eat you pos ports but that business continues to be a source of income for many countries in the block. the geneva motor show is about to kick off in switzerland manufacturers from across the world have arrived to talk about their new concepts for the future from autonomous driving to software development and the continuous electrification of automobiles the show comes at
a troubling moment for the industry which faces a slump in chinese markets possible import tariffs in the u.s. and breaks it. so is the political climate overshadowing the car show let's ask my colleagues on the phone who is in geneva for us jenelle the motor show already open for the press today what's the mood like. well you don't carmakers actually have a bit of a fine line to walk it's a car show they have to be able to show what they have and what they can do on the other hand especially for any of the politicians watching they have to be able to communicate just how dire the picture is and the event of a hard core of terrorists on a european cars so the message we seem to be getting is we have all these great cars but you know what they can become more expensive for the consumers as we pass on the cost of tariffs or supply chains are made complicated by bright. so yes bit of a two tone communication going on here carmakers zooming into the future but what
a bleak a future it could be ok so going with the flow as they would say and of course you'll be there for a little bit longer going with the flow as well where are you headed off an end to next what can we expect from you next. you know the geneva motor show and this is what i like most about it has it has the most market place feel still out of any of all the other car shows less it's less like an industry gathering you do have buyers still coming here and looking at the cars spending up to sixty seven digits on the on cars especially from the italian designer houses now a key trend here seems to be combining electrification with luxury so we're going to see a lot of luxury s.u.v.s a lot of luxury sports cars but for those with more common faces let's say there are more future concepts here like autonomous right sherry at least one of production already flying cars so if you're looking for the future of transport the
geneva motor show is still a good place to be all right just yes or no janelle are you headed also to read only some. indeed of course it would be good to see how the mood very is especially since it seems car this goat is remaining in jail i would predict it's business as usual but of course we'll have to see ok we'll catch up with you on that when they're reporting from the geneva motor show thank you. to another topic now shares in nor dia the largest bank in the nordic region fell almost four percent on monday that following a finnish television report about the lenders alleged involvement in money laundering the news dragged down shares of other nordic banks as investors feel more revelations of illegal activities at the baltic units russian criminals allegedly use the financial institutions to channel their funds into the web. leaked documents showed north korea handled some seven hundred million euros in
suspicious transactions between two thousand and five and twenty seventeen according to finish broadcaster the report said a new data leak revealed a secret network of shell companies that funneled funds into a money laundering scheme. that documents suggest some of the transfers were carried out to conceal assets acquired through criminal activity willis said the money originated from companies registered in tax havens it's alleged the system was set up by a group of russian businessman including some members of russian president vladimir putin's inner circle some two hundred million euros was transferred to accounts in finland norty as clients reportedly included hundreds of sham companies whose owners were almost impossible to identify current laws require banks to identify their customers and determine the origin of suspicious funds. bunco next in his plane with us the us says the bank must know its customers understand the
background of the business and track its operations this obviously failed i but no one should ever do business with risky customers if you're not able to identify with any certainty the actual principles behind the complex corporate structure then you should stop doing business with them. norty is not alone when it comes to such allegations the bank's nordic rival swedbank and danced a bank also face accusations related to money laundering in a stone e r. that's it from me and the business team here. thanks for keeping us company us.
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channels available to people to take action. and more determined to build something here for the next generation. the environment series of global three thousand on. the from. the ilo in a warm welcome to news from the world of alt culture meryl and here's what's coming up today. indecorum is the artistic director at savvy contemporary one of the most exciting spaces he'll join me here in the studio. meet a german couple whose costumes have conquered the venice carnival. and d.-w.
david leavitt's delves into hermann hesse in our series one hundred german must remain. and we begin with the savvy contemporary art gallery here in berlin and its founder and artistic director of all. will be my guest in the studio in a minute it's a very unique place which calls itself a laboratory a form ideas a new way to look at all perhaps we'll find out but first more about the man and the gallery. of on two things our relationship with out should be more open he favors horizontal thinking instead of a vertical hierarchical approach. and dick has always been open to the new born in cameroon's capital in one thousand nine hundred seventy seven he studied food technology in berlin and received adult to it in medical.