tv Business Deutsche Welle May 23, 2019 8:30am-8:45am CEST
like the climate crisis. how will the european election affect the rest of the. expert discussion this. is a record. voters 1st time seems to dublin has it all missing the european elections on may 26th on. deutscher banks on the defensive began again today the board of the beleaguered banks faces off with investors after the share price hit an all time low and its balancing legal and corporate troubles. also coming up ahead of the european parliament elections what are europe's you thinking about jobs for what we bring you a report from paris. and the us bicycle sector calls on the president to back
pedal on his call for new chinese parents. this is d.w. business imes an album by law and in berlin welcome well have all those stories for you in a moment but 1st we start with early results from the world's biggest democratic exercise the indian elections where incumbent prime minister in the render modi has a clear lead after counting began thursday morning indian markets soared on signs his hindu nationalist p j p would remain in power the bombay stock exchange's sensex hit another record high crossing the $40000.00 mark for the 1st time shares had already risen sharply in recent days despite modi being accused of coming up short on his economic agenda during his 1st tenure analysts had predicted his reelection would be good for india's growth. and for a story closer to home dortch a bank shareholders are gathering today for the banks and will general meeting and voices management isn't in for an easy ride executives are under pressure to
provide answers on several difficult issues the biggest $1.00 to buy just doesn't make enough money and that keeps the share price fell then there are the ongoing legal troubles money laundering allegations have dogged deutsche bank and it's been on comfortably close to donald trump's financial dealings and the planned merger with converts bank well it just never happened and on top of all of that the bank is dealing with serious i.t. failures and monitoring payments from major customers the list goes on and on. and here to discuss that with me is our financial correspondent a lars halter he's awaiting the start of that shareholders meeting and frankfurt hi laura it's good to see you so lawrence what can you tell us about the mood ahead of this all important meeting. what's very interesting ginnell the mood mostly of course a lot of people here down royd angry and that is not
a surprise considering what happened to daughter bank and to its shares specifically over the last couple of years mind you when investors used to buy door chipmunk shares they did not do that as a as a high risk option as a matter of fact which a bank was always considered to be a conservative stock you could bank on it was the german bank and then if you look at what happened to share prices they lost 8590 percent over the last couple of years if you were a shareholder actually genelle and you put a 1000 euro in just at the beginning off this year you are at $400.00 to euro now you have lost $600.00 so of course a lot of people are angry and they demand to change they demand to the bank to be more transparent to clean up its act but at the same time it is interesting i had a chance to talk to a couple of shareholders as they were lining up right here at the doors waiting for the doors to open and not everybody is angry with or chipmunk most are but some
actually are angry with regulators and with lawyers and they are telling me they feel that deutsche bank has been treated unfairly and that the bank is supposed to be left alone so that they can focus on their business but all the angry ones and the defensive ones they're all in for an interesting meeting and they have high expectations. well i for one i'm glad that i never invested but how do you rate that to banks and chances of driving itself out of its various masses. was going to be very difficult if you listen to what's. oldest son saving is going to say some of which he has all written already written in his letter to shareholders he sounds very optimistic he says here the bank has been investing in better protecting its business it has been investing in better software to detect suspicious activity but then if you just remember a couple of days ago we just heard that story that the internal software just
recently flak suspicious transactions on accounts that when the name of the u.s. president all trump and his son in law jarrett question and then management apparently failed to look into these matters and report them. there's a lot of questions here still people are apparently the bank is investing but nothing seems to be coming out of it everyone bracing themselves for a tough shareholders meeting lars halter there in frankfurt for us thank you. here are some other business stories making news today on deutsche bank donald trump has failed in his bid to block the lender from providing financial records to democrats probing his businesses a u.s. judge said congress can demand the records as part of a larger and best a geisha into election meddling by russia the german bank reportedly lunch over to a $1000000000.00 in the last 20 years. the u.s. aviation regulator has still not received the boeing's proposed fix for the $737.00
max aircraft the models entire fleet was grounded worldwide after 2 crashes and 5 months which claimed the lives of nearly 350 people in both cases the faulty software has been blamed for boeing said it had finished making changes requested by the federal aviation administration last week. and shareholders have rejected proposals to limit an audit of the company's facial recognition service internet giant has been at the center of a heated debate over the use of the technology which critics call an invasion of privacy the proponents say the benefits outweigh any concern. brazilian group and the tour says it will buy the u.k. based direct selling cosmetics business it's all a stock offer of about $2000000000.00 will create the world's 4th largest medic's company the tura which already owns the body shop it is brazil's top prospects
persimmons and toiletries for. now youth unemployment and the european union fell last year by around 10 percent compared to the previous year of course that's great news to our younger generation but there are still just under $5800000.00 people between 15 and 25 without work the job opportunities and without people's prospects in life are not the same across europe far from it young people in germany have the best chance of finding a dog. it's europe's largest economy and youth unemployment is 5.6 percent now here's something that might surprise you though france is the 2nd largest economy but there you have unemployment rate is 4 times higher in fact most of europe still unemployed people unemployed people live in frats more than a 1000000. these activists don't think finding a job will be much of a problem for them thanks to the european union. is that in this letter there's
a commission here it is part of my life a friend of mine as for example currently doing an internship in germany as part of the exchange program erasmus and there are many of the e.u. initiatives for young people the e.u. is really important for us that's why everybody should turn out to vote. present. but it's not always easy to convince people it's the. these activists say this is also down to the current election campaign to get this all fixed in the election campaign is a catastrophe all the politicians talk about is nationalism and identity they forget the important things like youth unemployment that's a real shame we are europe's future measure. many see the e.u. as an abstract idea this group is participating in a job seminar there paris most of them haven't graduated from school and have never heard of exchange programs like the rest mass they feel left behind by the e.u.
and the not planning to vote early $400.00 euro edition we have to fend for ourselves all right enough it's our only chance to find a job which the e.u. isn't helping us into an e.u. politicians don't care about us social measure. i'm from a small village with 300 inhabitants. you can see the european logo on all our official buildings but that doesn't mean anything to us. the only programs that might possibly help us a local initiatives. so people know is this economist says young people are wrong to expect too much from the european union its room for maneuver is limited you know what 10 percent you can only provide money through structural fun but its programs are not targeted at specific countries demographics or classes it's up to national governments to implement concrete programs france has the extra
difficulty that its birth rate is quite high and it needs to create even more jobs for the young. the young europe fans think that e.u. programs are still helping them increase their chances on the job market and that the you should be widened out to win over more young people. on the i'm picker live point this is so much creativity here we could easily keep up with the startup paradise of silicon valley a young dynamic and have potential but the e.u. needs to give us more support to develop that potential. but it's not certain programs like these would also benefit those who haven't been to university unemployment among numb graduates is up to 4 times higher than those with a university degree. the u.s. china trade dispute has raised the price of products and components from rubber gaskets to clothing no with president donald trump threatening yet another round of
tariffs on $300000000000.00 in imports even more companies are looking for a way to ride it out like american bike retailers it's no surprise there on average u.s. bike sellers get 90 percent of their imports from china. qian servants a small bicycle shop in milwaukee he estimates the additional tariff will cost his company around 200000 dollars next year i mean for a small company of 12 people and we're considering scaling back i can imagine companies with thousands of people i mean they're having the same conversations and it's significant other businesses have already stocked up on additional merchandise in anticipation of the increased tariffs when that stock runs low will have to see where prices are at so that may or may make a difference as far as what models we continue with or decide to change some bigger chains have taken more decisive action back in february in response to trump's
initial set of targets u.s. bike maker canta $98.00 was moving production outside of china citing $20000000.00 in increased annual costs as the reason but it didn't move those jobs to america instead it's bikes and i think made in cambodia. and that's it from me and the business team and berlin for more business news and features you can always go through g.w. dot com slash business or follow us on social media i'm going album a lot in berlin thank you so much for watching.
human mind. and then we can make a real difference that's what. i leave. hello i'm welcomes the. let's see what's coming up for downtown abbey fans the wait is almost over we've got a look at the upcoming movie and i know. a prize winning russian designed to have put distinctive. 6 on the arash bandwagon for sheva hopes and fears for europe's future.
c you all what you eat the saying goes and how and what we did tell place in society this is the subject of an unusual exhibition at the victoria and albert museum in london a critical look at the politics and culture of food it's an absolute necessity for his old to survive but we need to rethink what we eat. as part of the exhibition food bigger than the claim these video artists honey and bunny take on the topic of table manners questioning the way people in the european union manipulate their knives and forks. and from me on it we have 500.