tv Business Deutsche Welle May 22, 2019 8:15pm-8:31pm CEST
we're told that hasn't lost up 10 goals and 11 assists in the past and once the campaign the belgian also cost a 25000000 i don't want to finish but i was up in the bundesliga this season 2 points behind by you. tube business africa is that next we'll have more world news for you at the top of the hour the meantime of course there's always the website that's t w dot com i've been to. the tumbling dice the entire scheme for jurors or dealing with any and i don't know they killed many civilians i mean the irish coming including my father was such i was a student because i wanted to build a life for myself. but suddenly life became alledge.
providing insights global news that matters d.w. made for mines. sometimes books are more exciting than real life. preparing to read. what if there's no escape. the church or list. german must dream it's. time to hang up his trade box suit and sneakers longtime donna c.e.o. didn't set yet bids his company's farewell what will the automaker do without him. and the big african tax break how far the company's flaunts lax tax laws in many african. states. have been physical and business one of the most
recognizable faces of corporate germany. is vacating the driver's seat a dialer 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. we cannot and will not remain satisfied with the current levels of profitability efficiently i can assure you the time it 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 teachers actually 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 type of the spanish there is only one example smalling for
better performance and handling credited with helping diamond to recover when the chrysler 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 should go pretty good ali it's a shame they're a long time a lot like him a lot. of fresh winds from the new strategy that's been announced here will be implemented effectively now that the share price will go up again because. that future strategy will be led by time is 1st known german c.e.o. . us. or general do alone was at that annual general meeting of berlin today last how has the reaction force from the frankfurt stock exchange lars wait 1st for a 2nd i just want to ask jenelle a couple questions 1st jamil. dima both 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 we did see that profit slump in 2018 and it's not a 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 2039 now that's not going to be free it's also so 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 you see any crying shareholders today you know this fight 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 some not quite tears but sad faces well such as
retirement hasn't escaped the notice of diamonds competitive b.m.w. this is quite interesting it marked the occasion by going all out with this video a double playing the boss bidding farewell to stop and gliding off into retirement in a wait for it m.w. didn't take long to dime a social media team to respond though they tweeted we guess our boss would rather really rely on real power for his retirement right that's quite funny for a german judge very good. at the stock exchange what's the market reaction to those social videos social media videos but searches for time. well i wouldn't look at the market reaction too much because shares for diana are down 1.6 percent but that on a day where 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. old 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 their shares actually underperformed those of let's say b.m.w. and fold 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 he's 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 about 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 us. what is the road ahead going to bring you reckon well 1st is going to be busy with this massive restructure it's the biggest one in the company's 130 year history so that's going to combine the car than businesses and the bus and truck business into 2 independents then also the 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 them achieve their goal than the physical a clever move 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 right foot. african tax authorities miss out on a least $50000000000.00 a year in revenues foreign corporations are especially good at exploiting loopholes 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 and prevent 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 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 the lows on a daily basis he works for we need which stands for world economy ecology and develop 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 would have profits through tax 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 that have 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 to. advise us tax advisers that have large overviews of every african country you can see they have such a tax rates and it's a growing trend according to fox sample studies by the international monetary fund that showed these trends that 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 enough to grow sources and so they're still depend on 8 because they don't have their 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 lots of power and often one corporation is very important for one country of it's a poor country so it's not that easy to negotiate a good tax deal than the other pressure 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 perpetration tell me what's this all costing the regular africa they lose out because of course you cannot find in schools you cannot finance infrastructure you have that and then money and get indebted. because of no own resources so it as a huge problem for many countries and one of the solutions and something you're working on yeah we have to rekindle 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 they're new to new definitions 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're really paid the taxes they are not shift the profits to the industrial countries for the headquarters where they are then also not taxed off of our governments are 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 put up at a 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 so a lot of people looking for solutions but not a quick fix death supply he said thank you very much for coming in. south africa is extraditing mozambique's former finance minister back to his home country of
chang is wanted on charges related to with $1000000000.00 debt scandal ex minister allegedly signed off on loans used to pay bribes form of credit suisse bankers are implicated one has pleaded guilty 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 and 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 already has ships with some of africa's leading stock markets including the johannesburg stock exchange and i jury is strange. i stay in business i think.
conflicts of justice in 60 minutes. i. am not proud of they will not succeed in defining a shadow not succeed in taking the people off the streets and because we have tired of this dictatorship. taking a stand global news that matters d. w. me. this is the deputy news africa coming up in the next 15 minutes protestors in sudan after the ends meet for a general strike off the talks with the ministry to install a civilian government collapse also on the program. this situation in zimbabwe keeps getting tough and tight for the ordinary person this is the bread.