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tv   Business  Deutsche Welle  May 23, 2019 10:30am-10:46am CEST

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particularly sea level rise by at least one century. we're going to have some climate impact return greater than pursue your. it's really frightening. why aren't people more concerned. starts may 31st w. . dorsey banks on the defensive yet again today the board of the beleaguered bank faces off with investors after the share price gets an all time low that's a good mounting legal and corporate trouble. also coming up transport ministers from around the world discuss how we get from aid to be in the future we go live to
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the international transport for on in life the. now the u.s. bicycle sector calls on the president to back pedal on this call for new chinese parents. this is v.w. business i'm going on 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 run draw modi has a clear lead after counting began thursday morning indian markets soared on sciences' hindu nationalist b j p would remain in power the bombay stock exchange's sunsets hit another record high crossing the 40000 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 become. for india's growth. and now to germany's biggest business story for today
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daryn bank shareholders are gathering for the banks and wall general meeting and the arch is management well they're not in for an easy ride executives are under pressure to provide answers on several difficult issues the biggest one deutsche bank just doesn't make enough money and that keeps the share price down 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 the planned merger with comrades well it just didn't happen 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 but our financial correspondent lars halter is at the shareholders meeting to discuss that list further with us good to see you lars there you are now tell us what's the mood like over there. well 8000 shareholders are here this morning journal and i
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had the chance to speak to a few of them and they are mostly angry and that of course has mostly to do with what the bank has been going through in the last couple of years in terms of scandals and 1000000000 dollar fines but also of course with the shareholder and let me give you some numbers here if you are a shareholder and watch a bank if you put a 1000 bucks in it 12 years ago you got about 70 left that is 93 percent down and if you want to look at the more recent term if you invested a 1000 bucks just at the beginning of this very year you're already down to $400.00 so another 60 percent down so of course the frustration is high and i was just inside and hurt the beginning of the speech he's of course the chairman of the supervisory board and when he said things are looking up that we have achieved a lot you could clearly hear chuckles in the audience and groans so obviously the mood is quite testy in there and we'll see how the. this is going today but it's
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definitely going to be an easy meeting or for management there that sounds like the wrong kind of laughter but where is the c.e.o. christian save and where is he on all of this. well he too is very optimistic as he obviously has to be he says looking back at this past year it was after all the 1st profitable year in a while and things are looking up he says they are investing a lot in protecting their business doing say for a business and the not sliding from one bad scandal into the next they said they invested in new software to flag suspicious activity but then of course just a few days ago we heard that that doesn't seem to always be working internally even though it's saving s c o is optimistic for the a chipmunk a lot of the shareholders play they aren't lars helter there at the door and will shareholders meeting for us thank you very much. and here are some other business stories making news. staying on deutsche bank donald trump has failed in his bid to
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block the lender from providing financial records to democrats probing his businesses the us judge said congress can demand the records as part of a larger and vesta geisha into election meddling by russia over years of the german bank reportedly much over $2000000000.00. amazon shareholders have rejected proposals to limit an audit of the company's facial recognition service the internet giant has been at the center they're going to debate over the use of the technology which critics call an invasion of privacy proponents say the benefits outweigh any concerns. the u.s. aviation regulator has still not received a boeing's proposed fix for it 737 max aircraft the model's entire fleet was grounded worldwide after 2 processes in 5 months which claimed the lives of nearly 350 people in both cases faulty software has been blamed boeing said it had finished making changes requested by the federal aviation administration last week
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. transport ministers and industry leaders from all over the world are meeting in the german city of leipzig to discuss the future of mobility they'll be looking for solutions to emerging pressures on the sector among them rapid urbanization at present just over half of us live in cities by 2050 about 2 thirds of us felt infrastructure to accommodate everyone will be needed and with public transport still lacking in many areas the number of cars and trucks is expected to double in 30 years there will be 2000000000 vehicles on the roads making a bad environmental problem even worse the transport industry accounts for a quarter of c o 2 emissions experts say policies have to change. our reporter kate ferguson is at the international transport forum for us and life say there you are kid it's good to see you now tell us what's the most oppressing thing on the agenda there where you are. good morning to getting people
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and goods from a to b. has been central to economic growth for thousands of years back in the day if i'd wanted to get my hands on some stilts or some spices i do feel waiting a really long time for them to be carried across the old silk road these days i can just order my note maggie on line get it delivered to the door maybe even buy a drone the challenge we're seeing today though is that our infrastructure hasn't kept up to date with our growing need for trying for trade and for travel and not an especially big problem in emerging economies many of which don't have adequate rail and shipping networks and what we're seeing instead is more and more cars and trucks on the road and of course that's not only bought in terms of logistics it's also really harmful to the environment as you just mentioned 25 percent of c o 2 emissions come from the transport industry getting that figure giant is top of the
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agenda here. so a long list to get through where you are but there's no getting around an event like this without talking about china as a belt and road initiative how is it being discussed there. well on the surface at least china's belt and road initiative is going to give the transport sector as a huge boost the scope of this project is breathtaking 65 countries are already involved many more are likely to cooperate and the future beijing says environmental projects are top of its agenda but many here aren't so enthralled they are scared of china's growing economic dominance and they're also concerned about participating countries ending up with unsustainable debt our reporter kate ferguson they're showing us the road ahead at the internet. transport forum and let's see. now whether you feel bitcoin is a passing fad or a real alternative to current financial systems cryptocurrency haven't gone
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anywhere just yet but now they've attracted a new set of users a handful of charities are also now using digital currencies to send relief directly to those in need circumventing banks and fees. many venezuelans stand in line for hours to withdraw money they've lost faith in the national currency the boulevard because of the excessive inflation so they exchanged olive asked for u.s. dollars or gold and store them at home but that's not a good idea because crime is rampant that's why some charities have turned to cryptocurrency is to help the poor while digital coins like bitcoin and the theory of have been volatile in recent years there's still more stable than venezuela's ball of all this store gladly except situ currencies his customers can buy food here using digital coins donated by foreign charities. that are fighting a war where most of our stuff with the it's a trip to currency transfers because of the situation in the country we do most of
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our shopping for food milk flour meat things like that lead to. vulnerable families in one program receive a weekly deposit of $7.00 in cryptocurrency is the equivalent of venezuela's monthly minimum wage the crypto charities hope participants who transfer their own earnings into the digital wallets one day long after they've stopped receiving 8. so we're really so experiments we're focusing on much smaller geographic areas and seeing if we can if we can actually kick start or spark crypto economy in some of these areas but that's just that's just getting started right now so. that hopefully word and hopefully get something going does that sustainable helping a lot of people. but there are many challenges in venezuela power cuts have become commonplace and sometimes last for several days that's
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a problem for those who receive krypto wait without internet connection they can't access their accounts and can't buy food. the u.s. china trade dispute has raised the price of products and components from rubber gaskets to clothing now 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 edge u.s. spike sellers get 90 percent of their imports from china. jin serve runs 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 people who are considering scaling back. i can imagine 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
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anticipation of the increased tariffs. when that stock runs low we'll 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 or taken more just type of action back in february in response to trump's initial set of tires us bike maker canton once it 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 its bikes are now being made in cambodia. and that's it for me and the business team and berlin thank you so much for watching.
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first in your school in the. first clinton. and then doris grand moment to rheims join during a 10 on her journey. you know or an interest in georgia. and orangutan returns home .
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go to the news or romex you tube channel. a good mine of stories. with exclusive. must see concerning arts and culture to ensure a. place to be for curious minds. do it yourself networkers. subscribe don't miss out on. a low i'm welcome to the. let's see what's coming up. for downton abbey fans the wait is almost over we've got a look at the upcoming movie. the prize winning russian design jew i put that distinctive.
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6 and they are a. show that hopes and fears for europe's future. what you eat the saying goes and how and what we did tell our 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 plate viennese 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. in from the media and that we have 500000000 democratic citizens but we're all trying to eat like the queen of england there's
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a certain absurdity to that cultural rules to fine and dominate our lives to a massive degree.

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