tv Business Deutsche Welle April 24, 2019 8:30am-8:46am CEST
who says that of this particular european parliament because we'll have a new one coming and the result of that election is going to be closely monitored in africa and the continent talked of all the chance years of a pump explanation ship with the euro. also special program the new elections why they matter for funky dumpy. u.s. banks outclassed european competitors a new study by eve why found that u.s. banks are more than twice as profitable than their european counterparts we go live to germany's financial hub frankfurt to find out why. also on the show ride sharing is getting more and more popular now folks live in launches and use this in the german city of hamburg to get a piece of the action. and wake up and smell the coffee because starbucks isn't the
only game in town chinese chain luck in coffee is taking on the u.s. job a giant all the way to now stuck. hello welcome to your business good to have you with us a study by consulting for me why has revealed a striking difference in the size of profits u.s. banks are making compared to the european counterparts and taken together the ten largest u.s. banks last year made a profit of one hundred thirty eight billion euros compare that to the top ten european financial institutions they made fifty two billion that is less then half as much j.p. morgan chase was leader of the pack in the us bringing in a massive twenty eight billion euro profit in europe it was ages b c this came out on top with twelve billion euros a major names like deutsche bank are way down the list with a relatively speaking of course measly profit of two hundred sixty seven million
euros so why are european banks lagging so far behind other studies also suggest it's down to a difference in fiscal policy on each side of the atlantic the fed initially responded to the two thousand eight hundred crisis by keeping interest rates at close to zero but when things looked up again in two thousand and sixteen it didn't shy from raising them again and that's an able to american banks to return to massive profit banks in europe on the other hand. still face super low interest rates are set by the european central bank and for more let's cross over now to our financial markets correspondent conrad buson is standing by for us in frankfurt now if the banks problems here in europe down too low or zero interest rates why is the e.c.b. not reacting. because it's not the job of the european central bank to save the business models of banks monica you know the federal reserve in the u.s. could only raise rates because the underlying dynamics of the u.s. economy things like consumer price inflation allow the fed to do so here in the
countries of the euro the economic dynamics have been much much weaker and i have to add something else large american banks have their huge their vast american domestic market while for example the business model of deutsche bank has always relied much more on what's going on globally on very multilateral very diverse global markets and operating in those markets in recent years has become more difficult because of regulation and also because of policies that focus more on nationalism things like america first and of course the dodgy bank as you mentioned so you say they have to change their business model and there are currently in merger talks with the commands bank will that change anything in terms of ranking. it's very difficult to say monica what i can tell you is that many
people here in frankfurt germany as financial capital are worried that if. really undertook a merger they would be too preoccupied with merging with integrating with job cutting with working on their i t systems and not enough on generating new business opportunities you know these are two banks very much focused on the past how in the situation can you focus on the future well that is certainly a question that you will follow up for us as time goes by i cannot listen in frankfurt thank you so much making headlines around the world. both the nasdaq and s. and p. market indexes in the u.s. . it follows a strong quarterly results for many of the wall street's biggest tech firms jimmie's dax also closed on
a six month high propelled by gains in the farmhouse off where i am financial services. and which has smashed all expectations last quarter by tripling profits the microblogging service made one hundred ninety one million dollars in the first three months of twenty nine thousand compared to just sixty one million a year ago to achieve jack dorsey credited moves to weed out abusive and fake content on the side with boosting its attractiveness to advertisers. well face was traffic jams pollution and bans on diesel engines people will find it increasingly difficult to use their own car in a city's ride sharing could be the solution app allows you to book individual groups that you share with others making the trip cheaper than going by bus a taxi is a fast growing and lucrative market and now folks are also joins the party. a fleet of gold moire buses has already hit the streets of hamburg. is hoping to win
over residents and revolutionize the city's local transport each minibus has space for up to six passengers booked the right sharing surface firing up the interior has a luxury feel knots of space luggage storage a reading light and u.s.b. ports but of course there's a degree of compromise that. will have gone excuse you forward it's not an exclusive ride like in a taxi way you travel a line so you share with people you have to expect a few little details and the extra time that goes without. saying. the price at somewhere between a taxi and public transport b.w. has launched the service with a low price introductory offer in the first few weeks any trip through hamburg will cost five euros a little less than a subway ticket many taxi drivers think these are dumping prices.
but the cost and the more have the costs that more has a very high cause are expensive drivers are expensive and the concept isn't profitable and the idea that car sharing will end the money is just an excuse to barge into the taxi business but i'm just giving invest but i suspect to give airbus of anticipation. the w. has been somewhat idle jaring the mobility market boom at least when compared to competitive dima but now it's investing all the more in things like fast charging batteries that only need half an hour to get to eighty five percent charge and moire is growing fast. we've got some hundred cars that we want to have four hundred in operation by the end of the year the cause of being built in the factory and two to four new cars arrive here every day. but what will hundreds of new cars do to one backstreets electric or not surely they still home the environment more than they benefit it. right sharing ignition contrite sharing
shouldn't compete with buses or trains that should be an addition it's not supposed to make use of buses and trains switched cones but to lower the number of car drivers. and ride sharing can have a useful role in filling the gaps on the bus and train routes. to go. the sharing aspect just needs to work to make the concept viable the buses need to be as full as possible otherwise they could just make humbugs congestion even worse. and as a story of a brewing competition between two coffee chains beijing based luck in coffee is taking on global coffee empire starbucks and a bit to raise capital luckett is taking the battle public with non-stock listing. to look in coffee startup came out of nowhere staking a claim in a rapidly urbanizing china with a spread so fueled energy for one starbucks reign supreme suddenly there's a host of looking outlets in china's new shopping malls and business districts to
beijing based coffee chain wants to go public and us looking as applied to list on the nasdaq exchange plans to raise around three hundred million dollars in the i.p.o. since june twenty seventeen looking has expanded into two thousand three hundred seventy stores in twenty eight cities with backing from investors including the singapore sovereign wealth fund g.i.c. and china international capital corp by the end of this year look at names to become the largest coffee network in china in terms of number of stores. looking is taking aim at starbucks which is open to three thousand six hundred stores across one hundred fifty cities in china are we competing with starbucks probably to some extent we don't really care if the demand is coming from new coffee drinkers or from starbucks coffee drinkers we just to make sure that people are happy they come back to us and buy more products. look inside lots or cashless and designed for fast pick up as well as delivery with an app that rushes i deliveries in about eighteen minutes call with. so i don't think there's too much difference in the
taste starbucks and look ins they're pretty much the same. there's no big gaps they're both delicious huge. military support and go to. the coffee and fueled expansion and high marketing costs have seen its losses explode last year looking good one hundred twenty five million dollars in sales but racked up a loss of two hundred forty one million dollars. about two years ago china an ounce it would no longer import the world's wastes the ban redirected the flow of global garbage into other countries like indonesia malaysia would then also set up their own restrictions slowly it's becoming clear that to some exporting countries that at least some trash has to be tackled at home we take you to australia. australia has a stinky problem after depending on chinese infrastructure for over twenty years there's just too much rubbish to handle with spicing know why straw says. we
thought of the solution the word of the time is circular economy and this business does just that up cycling old plastic and grinding it down to granular to build new asphalt roads. we withheld the resources and we re-use them so with not just a restock in a national endeavor australia searching for more concepts to keep precious resources from going to the landfill this waste to energy plant is one of them. what we're basically doing here is converting food wise to renewable energy using the gases that's produced when you stop the wise to voltage and. the plant can process thirty three thousand tons of rubbish a year creating enough energy to power nearly seven hundred fifty thousand homes but building waste to energy stations is the turn of the capital intensive critics
are demanding similar legislation as in the e.u. where waste disposal is only seen as a last resort. so the cost of putting your wife. in the stride. because almost of it while every option. was more expensive excessive waste is not just an australian problem but a global issue more countries will need to move towards a circular economy to keep the earth sustainable for over seven and a half billion people. and that is your business. thanks for keeping us company says.
come from. the south. subscribe to the documentary on you tube. hello and welcome to arts and culture news and the united nations is currently debating a german led bid to step up efforts to combat sexual violence in war zones also this bidco instigated by hollywood star angelina jolie will be talking about that out of the celebrity culture of getting involved in such political issues also coming up. a huge street art exhibition with a fantastical backdrop has opened in western germany.
three d. printers and how they can help recycle plastic waste. in monday's washington post newspaper article appeared written by angelina jolie and the german foreign minister honeycomb os it was a call to the international community to support survivors of sexual violence perpetrated in war zones and also to pump punish the perpetrators of such crimes is written to coincide with a debate at the un about this very subject to talk about this and the subject of celebrities getting involved in political issues i'm joined by my colleague david leavitt's david let's start with angelina jolie who we used to know as a glamorous film star meanwhile for a long time now we've known she's been involved in humanitarian issues how did the whole star.