tv Business Deutsche Welle May 10, 2019 8:15pm-8:31pm CEST
changed things for the better. his own situation has also improved his no longer living on the streets but has found accommodation with a christian aid organization. you're watching did of a news coming up next it's business africa with go home thanks for being with us. sachs make. raring to me. if there is any product remember you have to find it between the whites. the literature hundred german streets. black will be our fighters want to start families to become farmers or engineers every one of them has a plan of the initial where you. can and thing is kiss on the children who have
always been the boy and those that will follow are part of a new process. they could be the future of collaboration. granting opportunities global news that matters d. w. made from minds. believe. it's one of the biggest i.p.o. has ever right hailing platform goes public in new york the launch that's raked in eight billion dollars but will over drivers in africa get a better deal out of it and is the economy helping african economies. also well the u.s. and china managed to trash out as last minute trade agreement a tense talks break off for friday in washington the usa says they were quote
constructive but fresh u.s. tariffs hit china today and plays jane has promised to hit back. also amazon's blue horizon space rockets are 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 promised lower than expected forty five dollars per share but still raising over eight billion dollars cautious stock may have been driven by doubts about the ability of writing services to actually make money. global expansion is also left a footprint all over africa where now operates in ten countries from egypt to south africa in kenya company has been active for four years has disrupted the fragmented
transport market that in sub-saharan africa alone has gone it's about one point three million riders since it started but they are rivals truelike taxes and little in numbers african cities regular taxi drivers fear for their livelihoods and also in 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 is shouldered by the drivers and those drivers have been on strike this week all over the world also in nigeria and kenya this is where from where joy doreen joins us now joy. in the crossfire what's your experience with the service in kenya that. as a cast my experience has been ok because the entrance of going to the market with
the transfer market sort of gave a level ground especially for the conventional and drive and so the traditional sassy drive is who are enjoying monopoly so at the entrance of. sort of level ground and thereafter we saw at that you hailing taxis it is like taxes i also into the market which even forced labor as well to lloyd's rates by thirty five percent which now made the drivers a little bit unsettling 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 but for kenya particularly it has been about a number of issues first of all the security bit where some of the younger drivers
felt that they were being tapped my 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 drive and then of course. lets the drivers p.d.l. own taxes so it does not we call it taxes even up to the action of the twenty five percent of the commission so the drivers feel dissatisfied with the ending less and yet putting in more money some of them drive their own cars and has just recently. had started to bring in cars that were cost allies to buy a specific leaf but still there is a bit of dissatisfaction but because i sort of also gives them some form of employment so there's some stuff we pull back and and i guess this is a common problem not just that also the other. seventy cents. that is
that this western economy. and several others is that a model for growth in the other parts of africa or people are more wary about its pitfalls. well the 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 are is happening even we countries like kenya and nigeria for them i think the big issue is ease on pay day pay is so little that sometimes the actually do not know what the taking home at the end of it will start in barrow up from nairobi that thank you very much
. dr oz on happy and investors of course asking will the right hanging 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 tailgated since the company was founded ten years ago the disruptive startup has put taxi drivers around the world inter of losing their livelihoods leading to protests in the u.k. spain and poland where last month parliament elected a bill to legalize the ride hailing upstart and other based car hire firms and if they fit if 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. 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 inc 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 negotiators to describe constructive there was no sign of the deal the. ease trade friction between. the world's two biggest china trade and border he shook hands with nugent before leaving it was clear when talks to the u.s. markets were down on the news and trade tensions were muted sent to washington post a new raft of terrorist on chinese goods today just hours before the trade negotiators met. you are the richest man in the world you cannot only afford to think big actually do big i guess that's why i'm isn't boss jeff bezos wants to send a mission to the moon because he can for years he's being poor in 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 sent me knows how to sell things retail like jeff bezos rich twenty million dollars of the future could receive that amazon castles via this land base as his 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 mean only gain two 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 albeit friendly rivalry and 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 a giant space station's gravity free enabling space to as to fly around inside them with any luck they too will be available online from amazon just one click away. meanwhile back here on earth 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 cofounders and its former spokesman in the new york times this week 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 common the first. the plant manager of german su mike of to see cope and its indian competitor tata falls through to pulled out of the deal because it expects the european commission to block it on competition. as a result says the full set of will be cutting six thousand jobs around the world the plan was to merge his and hold still unit with tata the agreement was a fifty fifty joint venture creating synergies saving up to six hundred million euros per year to cope and tata said they had expected to generate sales of fifteen billion euros. a 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 re imposed sanctions on tehran. and that's it from me and the business africa team for an end for more business news and features to call. us now here's a quick look at global markets. for news of.
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