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tv   Business  Deutsche Welle  March 13, 2019 12:30am-12:46am CET

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the floods have taken everything they now despair think of. climate refugees conflict. they seek shelter. but even here waters keep rising. the floods are coming. up next twenty. it's one of boeing's best selling jetliners and now it's grounds that around much of the world the e.u. joins a growing list of countries to suspend the seven thirty seven max after two crashes putting even more pressure on us authorities in airlines to do the same. and volkswagen report solid numbers for twenty eighteen of the world's largest carmaker
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can't get caught looking in the rearview mirror challenges are ahead like brakes that possible u.s. tariffs and oh yeah its departure from the internal combustion engine. welcome to business i'm stephen beers in for len thanks for joining us flight regulators in the e.u. join counterparts in china and other major markets in grounding the boeing seven thirty seven max that after two recent crashes in indonesia and ethiopia the issue is a sensitive one for the plane maker in particular which faces a tricky act reassuring concerned customers and protecting its business. iceland air is only one of the lines grounding their seven three seven max fleets by grounding its three max eight aircraft until further notice norwegian airlines also grounded its fleet of eighteen citing european aviation authorities of the three hundred seventy four seven three seven max airplanes currently in operation around the world some forty percent of now being grounded more than twenty year
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lines of ground of the plane including norwegian german travel group two e and a number of around the world have only just started building their fleets and the e.u. has now added to the growing amount of air space close to the new boeing plane as a global team of investigators looks for parallels with the crash in indonesia just five months ago. boeing stocks of said billion since monday but analysts say ultimately they expect things to normalize so we think. we think that. there is ways to. save we expect the order book to be largely intact u.s. carriers say they will continue operating the planes as normal for now but pressure is growing on earth already is there to take action over the boeing seven three
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seven max eight many airlines are citing customers frightened by sunday's ethiopian airlines max a crash which killed all one hundred fifty seven people on board. and let's bring in our financial correspondent new york jose luis de haro for more on the business side of this now i can imagine it looks any better for boeing today than yesterday in terms of share prices what are you seeing there. no it's not looking any better at old stevenson said boeing closed down an additional six percent on tuesday as a hearing wall street are trying to figure out how much of the current situation will cost the company similar episode in two thousand and thirteen when boeing grounded fifty seven eight seven airplanes calls the company at least five hundred million dollars and given the large seven three seven marks a fleet size the current grounding. more than one point five billion dollars according to some estimates a bad thing definite suspension of deliveries is the real risk here and these will
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impact a program that accounts for around two thirds of commercial airplanes operating profit at boeing and more importantly move could create disruptions across that to supply chain which is the gearing up for a seventy seven rate increase this year wright was as we've seen forty six hundred planes yet to be delivered of the seven thirty seven max is now the f.a.a. won't ground the planes what kind of pressures are airlines themselves facing. a lot of pressure stephen especially as some of the costumers are demanding changes in tickets when they learned there will be flying a seven three seven max a day southwest is a waving they were booking charge however passengers had to pay the prevailing fare time they changed their ticket which usually means that spending more money unless it was a lot said many of the peak of their purchase at american airlines and united are still charging up to two hundred dollars to switch of domestic flights and seven
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hundred fifty dollars for international ones also american airlines and so it was flight attendants and ground crews that have us carriers and two to seven three seven mike said planes until more it's known about the crush stocks from both the airlines over two percent on tuesday interesting and they're facing a lot of pressure off this like it was a louise the heart of their forest in new york. over the u.k. the pound lost half a percent against the dollar and one point six percent against the euro after britain's parliament again crushed prime minister to recent days bragg's a deal on wednesday parliament will vote on leaving the e.u. without any agreement potentially unleashing chaos in britain and causing the e.u. some problems as well british business still has no idea of the country will even be in the e.u. in sixteen days time the equivalent of hundreds of billions of euros has already been transferred out of britain and into the e.u. for safe keeping. and over to the auto world the world's biggest carmaker appears
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to have had a nother banner year folks wagon posting a rise in net profits which top twelve billion euros last year but stricter environmental regulations are squeezing profit margins on its cars in the road ahead looks bumpy to say the least with brags that dampen chinese market and the threat of u.s. tariffs biggest challenge of all is nothing less than a ground up rework of the automobile from an internal combustion engine to an electric drive system as regulators in europe and china push for cleaner cars volkswagen says it can execute a hair pin turn in its business pumping out twenty two million electric cars by twenty thirty. soon and the cost will be pretty staff looks like and is planning almost seventy need models. the car maker says it's a systems overhaul. so why get hurt and you know how to
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lose it is that we mostly thirty percent fewer employees for econ production than for combustion engines which means cutting jobs and it will be difficult to do that just through fluctuation and semi retirement. and that means a good market position will be vital. to such plans are doubtless unsettling for factory workers at the company's headquarters involve spork thirty percent fewer staff means thousands of jobs are at risk but the corporation is determined to revolutionize production that first the new vehicles will be built three german and two chinese plants many different models can be built on v.w. use new emo billet platform. so it's rooted in the application possibilities of the m.e.b. technology platform range from small city cars through to the e believe us you can also build small series vehicles like the id buggy with it.
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dece introduced the buggy only last week in geneva v.w. strategy is clear the more models can be produced on one platform the cheaper they are and until economies are affordable for all the shift to emo been a tea will remain an elusive tree. hungary's unions are seeing a surge in membership a trend that follows a string of labor successes with substantial wage hikes came through strikes and the mobilization of tens of thousands of workers to protest labor laws not surprisingly some companies don't welcome the new trend. they have through at the end of january algy workers in hungary went on strike paralyzing the german comic has closely linked production lines in hungary and in germany it won them an eighteen percent. wage hike taking lower paid hourly workers earnings from eight hundred euros to one thousand euros a month that makes them enviable. climb up public sector engineer and earn around
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a thousand euros a month nowhere near enough for that position. i used to teach and now i'm retired i get eight hundred euros a month pension. algy's union organizers a proud of their first strike pays a lot more in germany but that's not their benchmark. we orientate ourselves towards the visa grant states poland slovakia and the czech republic the automakers pay more in those countries hungary was always bottom of the league. in hungary each plant has its own individual union union members and miss sadie's managed to garner thirty percent more pay a month from the company. japanese carmaker suzuki won't allow any union activity in its hungary and operations one worker who tried to set up a works council was sacked on the spot. less is
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a ton of the nationwide metal workers union is backing this is. the case is going to court if you. will stay in touch with suzuki's management it's not the first time they have been attempts to found an own union at the plant but something fundamental has changed where the workforce once used to back down quickly today the workers support the establishment of their own union. to send the unions got forty thousand people onto the streets in budapest and protesting the introduction of a six day week and extra overtime they couldn't block the law but it got unions back into the spotlight the wage hikes it and miss sadie's and the labor law protests have boosted the unions reputation that's given rise to a flood of new members. or. say now that they can achieve more
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with disputes and strike some protests. some two thirds of addie's fifteen thousand tongue area and workforce belong to the union that the union had to rent a hotel room for our interview won't allow union representatives and the media to meet on the company's premises. new york prosecutors have subpoenaed for records on us president donald trump according to news reports the lender has been told to turn over records related to a series of trump organization projects including hotels in washington miami and chicago and spain is calm after trump lawyer michael cohen so the trump gave false financial statements to the bank. that's it for us thanks for watching.
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what's coming up. on. the this league. here. next.
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carefully. to. discover. the a. documentary. symbol of a long conflict in the philippines between the muslim and the christian population . as fighters occupied the city center in two thousand and seven team president to
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church's response was. i. will never again look told him of. the reconquest turned into tragedy this is not the kind of freedom that we want. how did monroe we become a gateway to islamist terror. an exclusive report from a destroyed city. finish in the science of i.a.s. starts april eleventh on d w. a lone welcome to news from the world of azza culture an artistic endeavor underground one up in the sky i want in the cinema today. we go to san francisco. and beyond an annual festival of german cinema.
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we go both beloved with much of the unique designs of the city's subway stations. and we meet a photographer whose pictures of but show flights as you've never seen before. we begin in san francisco where the largest festival of german language film outside europe is currently taking place for seven days and beyond shows feature films and documentaries from germany austria and switzerland it started back in one thousand nine hundred sixty it's now in its twenty third year and it's become an absolute must for movie fans interested in european cinema. from the at the center of the hippie movement to the gateway to silicon valley in san francisco the old world meets the new high tech meets tradition it's a multicultural metropolis with residents who come from all around the world
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a good place for a festival outside mainstream hollywood i've come to the restroom since the growth .

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