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tv   Business  Deutsche Welle  May 22, 2019 7:15pm-7:31pm CEST

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in just a moment so the brunt of the talk of the hour trying to get you to get over this is news and information from the book on how websites stay w. dot com other good. odds. my 1st vice was the sewing machine. where i come from women are almost by this social miss something as simple as learning how to write them by psychos isn't. since i was a little girl i wanted to have a bicycle of my home and it took me years to understand. finally the game bob invented by me and i say this but returns because sewing machine sewing i suppose was more appropriate for goes than writing i'm biased as knowledge i want to meet
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those women back home who are bones by their duties and social norms and inform them of oded basic rights my name is the about of the home and i work at speed a. big part of the good. time to hang up his trademark suit and sneakers longtime diner c.e.o. bids his farewell what will the automaker do without him. and the big african tax breaks for companies flawed flacks tax laws in many african states. have been physical and still business one of the most recognizable faces of corporate germany. is vacating the driver's seat of dialogue
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a quirky chief executive is credited with saving the maker of sadie's now he's waving goodbye leaving his successor with a massive restructuring. a grateful goodbye from shareholders after 13 years at the helm impact we cannot and will not remain satisfied with the current levels of profitability efficiently i can assure you the dyna team is drawing even more motivation to work with full energy towards our annual targets of the. message will be welcome following years in which share prices have been rocky profits slumped in 2018 after several good years. sure spend more than 4 decades at a time or as head of the chrysler division he became affectionately known in the us as dr z. even appeared in. this 5 playing growth of only one example smalling for better performance and handling credited with helping diamond to recover when the chrysler
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takeover fell apart in 2007. has achieved record sales in recent years after increasing the appeal of its cars to a younger market many shareholders say they're sad to see that should go pretty good ali it's a shame there i liked him a lot i like him a lot. of fresh winds from the new boss and there's a strategy that's been announced here will be implemented effectively. now that the price will go up again because. future strategy will be led by time his 1st known german c.e.o. . was. well general jim alone was at that annual general meeting in berlin today that has the reaction force from the frankfurt stock exchange laws wait for us for a 2nd i just want to know the couple questions 1st jamil dima bose bowed out calling for calm backs i read does that mean that he hasn't left the comic. he's not leaving it in the best shape that it's ever been and not even within his tenure
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we did see that profit slump in 2018 and it's not coming out of time away or 3rd making this move to invest a lot of really expensive projects like trying to go carbon neutral by 20 or $39.00 now that's not going to be free it's also having to do clean up after the emissions cheating scandal and those are just the internal factors you also have external things like global trade uncertainty weakening in its most important market china as a result of this do you see any crying shareholders today you know despite all those downsides that i just mentioned they are genuinely sad to see him go i was even talking to one shareholder who sort of bemoaned the loss of the good old days where car makers were about building cars and not trying to build new mobility concepts or whatever and i guess for him is that she feels the departure of such a feels like a bookend to that era so yes i'm not quite tears but sad faces well such as retirement hasn't escaped notice of dying was competitive b.m.w. this is quite interesting it marked the occasion by going all out with this video
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a double playing the ball spinning it well to stop and gliding off into retirement in a wait for it. m.w. didn't take long time a social media team to respond though they tweeted we guess our boss would rather really rely on real balls for his retirement right that's quite funny for a german joke or get. turned over to the stock exchange what's the market reaction not to those social videos social media videos but she said she's retiring why would look at the market reaction too much because shares full time or are down 1.6 percent but that on a day when most of the market is down anyways so i would not necessarily put that right on said she here but it is interesting to see that as beloved c.e.o. said she was in the corporate community is also from the perspective of shareholders it was more like is so so kind of thing mixed feelings there because within the car business if you look at the competitors dimer shares actually
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underperformed those of let's say b.m.w. and volkswagen over the last couple of years and what we best is make of his success. yes they're pretty confident they are of course killin us has been with for a long time almost 25 years has been working directly with the church over the last years as designated successor and so there is a lot of trust i think but of course everybody is very much aware of the fact like john ellis said to the concept of changing for the business and for a dime or 2 this is not only involved building cars anymore we're looking at a whole new industry where we're talking about mobility concepts the sharing economy technologies like autonomous driving so it is absolutely clear that the new guy has his work cut out for him and we all have to share all of his. what is the road ahead going to bring to record well 1st is going to be busy with this massive
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restructure it's the biggest one in the company's 130 year history so that's going to combine the current than businesses and the bus and truck business into 2 independent spent also that is amount of task involving $800.00 subsidiaries in 60 countries 130000 employees could be transferred that's just the plan for this year is that a clever move well it's going to be a move that allows them to be able to cut costs at least that's what they're hoping to get out of it and if that helps so much of the growth in the physical a clever move if you cut costs even though the synergies won't be there anymore indeed it but you see they have to be able to do that and they have to be able to look outside for more development partnerships and they have to move away from just traditionally from building traditional cars the whole car industry has to do anyway exactly you know thank you very much for coming in a lot of the forests in frankfurt. african tax authorities miss out on a least $50000000000.00 a year in revenues foreign corporations are especially good at exploiting loopholes
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the laws aren't always enforced and there's corruption. it's a business worth billions whether coal natural gas or rear earths companies from all over the world are extracting mineral resources and africa they often pay little or no tax for the privilege take mozambique for instance its government is in no position to monitor activities and audit the balance sheets of the foreign corporations active in the country because it lacks the necessary structures and resources and that studies show costs mozambique millions in potential revenues corruption and mismanagement of ate the situation in the end there's nothing left for infrastructure education or health care and governments aren't the only ones to blame the corporations often under to clear profits or claim excessive overhead exaggerating the costs for exploring deposits more for personnel accommodation
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others to reduce their tax burden by setting up shop in taxi vans or bribing politicians and the practices aren't only common among large corporations smaller companies such as safari travel providers have also grown adept at avoiding tax payment in africa. as head deals with these dilemmas on a daily basis it works for we need which stands for world economy ecology and developed but 1st of all just how different are these tax breaks that are given in africa to places in europe or the us. 1st companies use the same techniques that these companies from the us he was in other regions like europe so they were profit futex havens the netherlands for example but on the other hand does one feature in africa that many africans granted lauch corporate income tax breaks for a long time in so-called special economic zones for example where they lose even more tax by just granting blunt own tax breaks to these companies so it's 2 things
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that have that happened here and over periods of 5 to 10 years i believe for example many zones that's the case here and these are growing and these are existed in in almost all africa guterres yeah you can see. these large advise us tech said by those that have large overviews of every african country you can see they have such a tax breaks and is a growing trend according to fox sample studies but international monetary fund that show these trends and we're talking here about a $50000000000.00 tax shortfall that's that's a huge amount and more than the amount of african aid definitely so they really have not enough money just because there's not domestic resources and so they're still depend on the 8 because they don't have to own resources to finance their public services and so on what are the other reasons why governments don't want this money it's easy money is just a race to the bottom each fighting against each other to get these large corporations in the 1st place it's not that easy if there's a corporation to have large power and often one corporation is very important for
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one country if it's a poor country so it's not that easy to negotiate a good tax deal they don't approach it from other industrial countries so that they need to have tax agreements for example that are not in their favor and there's also pressure to do this and so difficult of problems and also tax administration is much weaker so much less persons tax administration persons per purple ation tell me what's this all costing the regular african. they lose out because of course you cannot find in schools you cannot finance infrastructure you have that and then money and to get indebted because of no own resources so that's a huge problem for many countries and one of the solutions and something you know working oh yeah we have to know goetia tax treaties because they are unfair at a moment's notice for one thing that we have to do and also push the other countries to do this and then we need to new definitions of what is a taxable presence economic presence in the country like with the mining companies that we've seen that you really need to better definitions that they are they're active and they would be paid the taxes they are not ship the profits to the
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industrial countries for the headquarters where they are then also not taxed off of our governments organizations is the g 20 and other groups are they all doing enough to solve this problem just briefly is a big process called inclusive framework no which was triggered by the g 20 and the 130 countries at the moment in dosia there was a dia negotiating rules and is a big fight between the industrial countries but also the different positions and the g 20 for the emerging countries where they try to get a new global tax rule and also texas but it's still open if they really achieve something it's a lot of people looking for solutions but no quick fix death supply here thank you very much for coming in. south africa is extraditing mozambique's former finance minister back to his home country of chiang is wanted on charges related to it through $1000000000.00 debt scandal its minister allegedly signed off on loans used to pay bribes former credit suisse bankers are implicated one has pleaded guilty
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u.s. authorities are also prosecuting those involved. and the london stock exchange is on an african road show it wants to boost its 115 african listings officials are visiting the kenyan capital nairobi a wonder in angola and other big cities the l.s.e. has the most african listings outside the continent and it plans to stay ahead of where he has ships with some of africa's leading stock markets including the johannesburg stock exchange and i jury is exchange. i was doing business with.
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i'm not laughing at the germans because sometimes i am but less than nothing with the 10 men think deep into the german culture. ridiculous drama. thus. it's all that. no time rachel join me to meet the gentleman from the gulf coast district on the other jews a very tender. point of long drawn out. and even probably legendary printed
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rolls told close. it doesn't affect one in 6 people in detroit. told me british strategy has really tried to understand a very dark local. history. on the eve of their new stage show. you. this is the news africa coming up in the next 15 minutes protesters in sudan at the ends meet they're all fools for a general strike off the talks with the ministry to install a civilian government collapse also on the program. the situation in zimbabwe keeps getting tough. for the ordinary person this is the bread fuel increases like a hot tin like you know sprays for months that report from zimbabwe away the economy is safe to be in its most dire stay.

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