tv Business Deutsche Welle May 10, 2019 7:15pm-7:30pm CEST
it's africa would get hot i'll be back in the top the next hour but first just going to be here and tell you a little bit about her in africa optically and nigeria were of course having just launched its i.p.o. and he's going to be looking at the dreams of the richest man in the world he was but. i'm secure in the value we're not tied and in the end it's a me you're not allowed to stay here anymore we will send you back. are you familiar with this. with the smugglers would lie and say. what's your story. on what numbers and women especially in victims of violence. take part and send us
your story we are trying always to understand this new culture. not a visitor nothing yet you want to become a citizen. in for migrants your platform for reliable information. it's one of the biggest i.p.o. has ever arrived hailing platform goes public in new york the launch that's raked in eight billion dollars but will overdrive as in africa get a better deal out of event is the economy helping african economies. also will the u.s. and china manage to trash out as last minute trade agreement tense talks break off for friday in washington the usa says they. close constructed but fresh she was
tired of state china today and baby jane has promised to hit back. also imus's blue horizon space rockets aiming for the moon getting ready to deliver and no one's ever delivered before. this is his africa on the w m god help us in berlin welcome in new york stock exchange opens to usher in the year's big i.p.o. and investors have been jumping into to go along for the ride shares in the ranking company initially prized lower than expected at forty five dollars per share but still raising over eight billion dollars the cautious stock may have been driven by doubts about the ability of writing services to actually make money. as a global expansion it's also left a footprint all over africa where it now operates in ten countries from egypt to south africa in kenya company has been active for four years that has disrupted the
fragmented transport market that in sub-saharan africa alone has granted about one point three million riders since it started but there are rivals truelike toxify and little in numbers african cities regular taxi drivers fear for their livelihoods and also have been protests against. part of the so-called good economy where there is no contract no social security or holiday pay and most of the entrepreneurial risk of shoulders by the drivers and those drivers have been on strike this week all over the world also in nigeria and kenya there's a sweat from where joy doreen barrow joins us now joy. in the crossfire what's your experience with the service in kenya. as a cast my experience has been ok because the entrance of going to the market with
the transport market sort of gave a level ground especially for the convent drivers or the traditional sassy driver is who are enjoying monopoly so at the entrance a. sort of level of the ground and thereafter we saw at that you hailing taxis and it is like taxes i also into the market which even forced labor as well to lloyds rates by thirty five percent which now made the drivers a little bit unsettled because they said they were just making a bit and then a bit lower than two dollars and eighty nine cents for out which was a very small rate compared to what the conventional drive is happy ninety sounds like a paltry sum is that special about the situation drives where you are in kenya hours it's the same elsewhere. i think it's the same issues that for kenya particularly has been a number of issues festival the security bit where some of the younger drivers felt
that they were being attacked by the conventional drivers but then also the issue of the pay where. actually takes twenty five percent of the commission that is made by the driver is and then of course. lets the drivers p.d.l. own taxes so it does not we call it taxes even after that induction of the twenty five percent commission so the drivers feel dissatisfied with the ending less and yet putting in more money some of them drive their own cars and he's just recently that had started to bring in cars that were cast allies to buy. steel and the reason to have dissatisfaction but because sort of also gives them so full employment so there's sort of stuff we've proven and i guess this is a common problem not just that also the other top secret in seventy cents a joy is that this western economy. and several others
a model for growth in the kenya and other parts of africa people are more wary about its pitfalls. full of people who use it you know it is convenient because on a continent like forgot that is field reaves lots of traffic on most of its major roads especially in of and cities it has been one of those convenience transport services but when it comes to the issue of insecurity and also the pitfalls that are being experienced by the other countries like poland and the united states and the united kingdom that are currently on strike this week the problems that is happening even we countries like kenya and nigeria for them i think the big issue is ease on pay their pay is so little that sometimes the actually do not know what the taking home at the end of a tall order and bear up from nairobi there thank you very much.
drivers on the happy and investors of course asking will the right hailing from ever make money the company has posted only losses and the ten years since it was founded and it is no stranger to controversy either. it seems controversy has constantly tell gaited huber since the company was founded ten years ago the disruptive startup has put taxi drivers around the world in terror of losing their livelihoods leading to protests in the u.k. spain and poland where last month pile of and elected a bill to legalize the ride hailing upstart and other based car hire firms if they could if you could we feel we're discriminated against we have to get licenses pay pension contributions we have to set up a company to work and we have other costs in contrast the illegal carriers have low costs they're often people convicted by the courts seventy five percent of them
without polish citizenship they work illegally and the government does nothing about it was once the news here. has faced legal challenges from drivers demanding basic labor conditions it's been banned in several countries including denmark and hungary in twenty sixteen hackers attacked it was cloud server and downloaded millions of users personal data a year later its c.e.o. travis cullen nick was forced to step down after a series of scandals there was a fatal accident involving one of the driving cars and there have been numerous rape and sexual assault allegations against uber drivers from india to america more than one hundred in the u.s. alone the company has also been criticized as having a culture of sexual harassment. then there's the balance sheet over the twelve months to the end of march up losses of three point seven billion dollars
a record for a company in the year ahead of its i.p.o. . trade talks between the u.s. and china broke off after a brief meeting which u.s. lead negotiator steve nugent described as quote constructive there was no sign of the deal the euro eased trade friction between. the world's two biggest equal. trade and boy he shook hands with nugent before leaving it was clear when talks continue u.s. markets were down on the news and trade tensions were muted sent to washington post a new raft of terrorism chinese goods today just hours before the trade negotiators met. you are the richest man in the world who cannot only afford to think big actually do big i guess that's why i'm isn't boston wants to send a mission to the moon because he can't for years he's been pouring a billion dollars annually into his space venture blue origin which is two thousand
people but it's not just a flight of fancy billions to be made on the moon. let me show you something he certainly knows how to sell things retail jeff bezos rich many men do well as of the future could receive that amazon parcels via this land base as is tech experts who spent three years working on blue moon. it sent to travel to the moon fifty years after the first landing there down to the surface vessel sees the moon's low gravity is ideal for high tech manufacturing. and it would all be carried on markets like these also from blue origin and that's the core business idea freight transportation between the earth and space a market potentially worth billions of dollars which is why other billion as i read on the game too including tesla boasts on musk he and bezos are in something of
a space race pouring mindblowing sums of money into space travel it's a long term project destined to outlive any opiate friendly rivalry but what i'm laying out here today is obviously a multi generation vision. this is not going to get done by any one generation the next step says bezos on giant space station's gravity free enabling space to a list to fly around inside them with any luck they too will be available online from amazon just one click away. meanwhile back here on a facebook's executives face increasing calls for the corporation behind the social network to be broken up into smaller companies the latest criticism comes from chris use one of facebook's co-founders and its former spokesman in the new york times this week hears that uses facebook of creating a monopoly and denying its two billion users worldwide and he will turn to u.s.
lawmakers have also urged the justice department to launch an ounce of trust probe facebook says the internet is worth needs regulation not it as a company. the plant manager of german sue mica to see coke and its indian competitor tata phones through to pulled out of the deal because it expects the european commission to block it on competition concerns as a result is the focus that it will be cutting six thousand jobs around the world the plan was to merge his income still unit with tata the agreement was a fifty fifty joint venture creating synergies saving up to six hundred million euros pay you had to cope and tata said they had expected to generate sales of fifteen billion euros. trade between germany and iran fell steeply in the first two months of this year according to germany's traumas of
calmest exports from europe's largest economy to iran plummeted by more than fifty percent year on year to around two hundred and thirty million euros in january and february imports from iran also plunged massively of the chambre says trade with the islamic republic has become extremely difficult since the us really imposed sanctions on tehran. and that's it from me and the business africa team for the informal business news and features. just now here's a quick look at global markets where you are stay tuned for news after. we're
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