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tv   Business  Deutsche Welle  March 18, 2019 9:30am-9:46am CET

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he was so fascinated by their culture that he stayed. only a promise to us about. the jungle and return to the concrete and glass jungle but. the result reverse culture shock. the prize winning documentary from the forest starts people first on t.w. . it's official germany's two biggest banks are discussing a merger but is the possible fusion of deutsche of bach with comas putting what the german government wants against what employees and investors want. and women in the e.u. earn on average sixteen percent less than men working in lower paying careers and
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struggling to reach the highest leadership positions sort of structural changes necessary what about cultural ones. also coming up we'll introduce you to a champion bird you just made more money than many of us will make in a lifetime. i'm saving theirs in berlin thanks for watching. on coal and coleman sponsor considering a merger is supposed to be a rescue for both banks but many are critical of using two struggling lenders who also happen to be germany's largest banks. is in fifteenth place internationally currently sitting on assets of around one point five trillion dollars and so far behind the chinese bank i see b.c. and the largest u.s. bank j.p. morgan chase a coma is in fifty third place down there with an asset sheet of just under half a trillion dollars so germany's two biggest banks would emerge they would move up to tenth place internationally but the problems will hardly be going away jobs and
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branches will have to be cut just to make things work out. the government is pushing for a merger between deutsche bank and commits bank as it wants to create a german mega bank to compete with global investment lenders german finance minister says urged by chief christiane saving and commits bank head martin to consider joining forces. critics warn the merger could be complicated the banks say they are moving with caution frontispiece. only merge with commits bank if it makes economic sense that's important to us that requires a good plan above all the good integration plan we worked together with commits bank and when we have the results then we will decide. the outcome of these merger talks could go either way. we will need some time because it's more important for us to be torode than it is to be quick. what's important is that we are and will remain a global bank with a leading position in the german and european markets we can possibly expand its
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leading position with a merger with commits bank. both banks say the merger would lead to enormous cost savings in german trade union verde has warned of cost cutting measures such as closing branches could lead to up to thirty thousand lost jobs. about this now frankfurt correspondent susan conrad how do investors view these talks. well stephen the immediate reaction of the share prices this morning is positive which might of course be the usual reflex of trade to buy shares when they hear words like cost savings job cuts. in a sector whether or not investors shareholders also the financial community here in frankfurt becomes a friend of the idea remains to be seen of course the big question question is does one week bank plus another week bank equal
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a strong one. absolutely and in that vein what are the risks and opportunities of creating a big bank like this. well in terms of opportunities of course the idea is that a larger bank would have a larger market share that all this would also allow you back to increase profit margins which is really a problem for the bank remember. germany's banking sector is really overbanked we have about eighteen hundred separate banks here in the country that's. bangs far higher than in compare comparable countries like for example france the united kingdom and cetera so of course profit margins could be increased on the other hand of course. this would certainly create a bank too big to fail if this new big bank had
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a problem in the future the only instance the only lender of last resort could be the taxpayer and remember how you know our government told us after the last financial crisis that never again this were to happen ever again the taxpayer should have to bail out a bank and briefly conrad does that mean that this is a done deal that now these talks are taking place in the government seems to be behind. no it's not at all a done deal you know christiane's even the chief. in a letter to all of the employees of deutsche bank who found this letter in the inbox is this morning that this will only happen if it makes economic sense and let me tell you the most plausible or also one of the explanations i found heard here this morning in frankfurt among you know people and the stock exchange was they say and commands bank only ensuring those talks now to be able to end them as quickly as they can without. a lot of speculation surrounding these
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talks in their force in frankfurt thank you kyra. women in germany earn twenty one percent less than men on average or the highest compensation gaps in the e.u. there are several reasons for the difference among them women are less likely to climb as high on the career ladder due to family care obligations typically and more likely to work in lower paying fields like caretaking or education and then of course there's that gender pay gap itself the difference in what men and women earn for the same work jobs that are traditionally considered women's jobs like kindergarten teachers for example are notoriously badly paid and although women in germany on average are better educated than german men are fewer women have careers in fact if you consider the average gross wage of all germans women earn twenty one percent less than men there are many reasons for it typical occupations for women
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nursing education or hairdressing are paid less than occupations which are usually carried out by men and women often work part time due to responsibilities at home that makes them less likely to climb the career ladder but even when both women and men are working in the same positions women earn six percent less than men the gender gap in the european union is very different from country to country the pay gap is lowest in romania and italy germany is in third to last place just ahead of the czech republic and is stony. for more than ten years equal pay day has been drawing attention to these grievances but nothing has changed significantly so far. and joining me in the studio now is claudia gross legals she's managing director of the german women entrepreneurs association thank you claudia. we often talk about
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the gender pay gap here but what we're talking about is a compensation gap and bringing women into work or making sure that they remain in high powered careers high earning positions does that mean policy changes social changes cultural changes how do you see this it's a combination. of different factors and of course first of all it starts in the private life it's a question how you see their family life among men and women and of course they all hold back they help by. having children solve this this of course in their career. it's an incident that of course is difficult to catch up with man afterwards and the family work balance is such a key part of this thing germany has rather generous maternal and child care policies compared to a lot of other nations so why do we still see such a gap then i think this is the true reason for such a big gap if you look in the united states for example you see that there are so
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many more women and leading positions solve the there is a much higher rate of women in boy it for example in compared to germany there is no maternity leave so there is no social welfare for women as you as we have it here in germany and that may also be the reason why it is the way it is in germany with a twenty one percent pay difference or other specific policy. alternatives that you would suggest that you would like to see in place you think can really lead to change i mean this legislation we introduced two years ago. i think it was worth having that dialogue but finally it doesn't really help women to be better paid or to have a higher income actually it's what we see today is more an income gap than a pay gap because. the majority like that seventy five percent of this pay gap is due to the fact that they are they stay at home they only work part time they are.
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less paid than. jobs chosen by my man so this is majority for the for the pay go up and i feel we bother have to on the company level we have to come to a statistic of what individual pay gap or the income gap on a business level and then how to close that and we should mention here that this legislation you refer to is believe it allow workers to see the compensation of those in their field essentially so the in other words women could see what men in their same position were making without revealing of course do you know can tell if that's made a difference of a lot of women or anyone utilize this legislation or utilize this knowledge there are only a few unknowns so far and i mean honestly who would who would dare to go to your employer and to give truth and transparency and name five colleagues you have to
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individual name those five colleagues and to ask for more transparency so i think this is this is their burden or two it's the obligation of women instead of the employers obligation for more transparency you represent organization of women business leaders how do they see this topic as women who are at the top and trying to maybe encourage other women to come up there do they see these problems all the more clearly or differently as business leaders of course first of all they are employers so they are women but they also employers and what they need is there they need to like a freedom in action so they have for example a couple of years ago you paid much less for an for an i.t. person comparison to do that today so and need to be able to pay. more fun i t. person today than five years ago and maybe and will area compared to an area so i think we need a very liberal labor market and not more appear
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a bureaucracy and that was claudia gross a leader from the managing director of the german women's entrepreneur société thank you so much for joining us. a champion worth a million bucks in fact a bit more than that belgian racing pigeon armando was auctioned this past weekend for an absolute world record amounts of one and a quarter million euros more than doubling the previous record in the field armando is a champion long distance flyer raised by the fish shoot family and one stood in the west flanders province where petition breathing is popular you'll soon fly for his new owner a chinese buyer who has remained anonymous. that's it for me in the business team i'm sitting beers in berlin thank you.
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because time to take one step further. and face the. time to snatch the. funds for the troops. time to overcome. and connect the world. it's time for. coming up ahead of. the floods have taken everything.
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now despair is going to come. climate refugees. they seek shelter can't come. first i see. the floods are coming. to. visit with the last dam cry for help of a whole generation feel. ya know linder is calling for better climate protection policies he's joining tens of thousands of young people all over the world the protest movement was inspired by sixteen year old political activist gratitude bag from sweden. the goal to force politicians to take action on climate
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change you know lindner is planning to take the protests to his small hometown of horn in pin a bag in northern germany and he's hoping for a big turnout. right now i want our our. oh ok we turn the clock back two weeks. oh my god there might be an owner and his friends luna and james ought to be at school right now instead they're in hamburg for their fridays for future climate strike a generation of high school students taking to the streets graded to barrack their role model is due to come to town all is also looking forward to meeting her. but they got looking at the posters you can see that many are here because of climate change. or the fact that they're not just wanting to skip school or see gretta obviously some.

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