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tv   Business  Deutsche Welle  May 29, 2019 3:45pm-4:01pm CEST

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magic come back. and take it personal and let's do business more witnesses take to the stand today in a multi-billion dollar lawsuit over the united states opioid epidemic prosecutors accuse one of the world's largest drug makers of deceptively marketing painkillers and downplaying the risks of addiction johnson and johnson there are 2 main crises rapidly rising rates of overprescription in the u.s. in asia and africa too few painkillers doctors there often give patients in chronic pain the equivalent of a headache tablet while americans getting hooked on the potent stuff. gail box is heartbroken at the loss of her son. i'm going to miss the great things that he. austin was a college football player at the university of oklahoma and the only 22 years old when he died from an overdose of opioid painkillers. the last day i saw
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him was the day he graduated from the university of oklahoma that day one of his coaches britton venables came up to him and said austin hasn't gone line and he said coach live in the. chest and injury. but unfortunately austin was living a nightmare the nightmare of prescription drug abuse prescription opioids to be exact. it were drugs like these produced by manufacturers like johnson and johnson that killed almost 50000 people across the u.s. in 2017 no legal action is being taken against the company. how did this happen. at the end of it there your honor i was sure one word answer. greed
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the state of oklahoma is accusing johnson and johnson of intentionally creating an oversupply and lying about the risks the company denies the allegations that. the fight for global tech dominance continues in this case washington vs the world's biggest telecom equipment maker china's weiwei it's asking a u.s. court to deem a partial ban on its hardware on national security grounds unconstitutional. for way that case is clear politicians in the u.s. are use in the stance of an entire nation will come after a private company they are using every tour they have including legislative administrators and diplomatic a china us they want to put pass out of business well for months
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washington has been accusing hallway of spying and delivering data out to leaders in beijing soon to walk away is something that's very dangerous you look at what they've done from a security standpoint from a military standpoint it's very dangerous from a clear report all the u.s. government has provided no evidence to show that highway is a kurti threat. there's no gun no smoke only speculation. speculation that has landed huawei on the so-called entity list a list of companies that u.s. firms cannot trade with google has already announced that it wouldn't provide updates of its smartphone operating system android 2 huawei shares of some u.s. tech companies including chip makers have come under pressure. meanwhile the u.s. chinese trade war is escalating beijing has announced it was thinking of limiting
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exports of rare earths to the u.s. endangering the tech sector there chinese rare earth are a key resource used to make smartphones as well as computer and even military hardware. let's pick up on that last point with our financial correspondent in frankfurt all the bads just how powerful a tool are rare earths exports from china. well there just as we mention in the report the key to many products that we use every day and even the military is depended on them because china at the moment makes up about 80 percent of the imports of these materials to the united states so the united states can't easily source these materials from other suppliers and there's a price issue and there's also an available saleability issue here and of course
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looking at the united states with that huge market with huge companies depending on these materials you can imagine that other countries other companies suppliers and customers of the united states will also be affected in the end of china goes through on using this as a weapon in the trade conflict believe it sounds like the trade conflict is only going to get worse what's the market reaction today. especially as there is no indication from donald trump that he's ready to sign a deal made it clear that much and japan on this visit there the market is taking at the hard way the losses of big have been becoming bigger as the day progressed now in the afternoon you see all major markets in europe down whether it's frankfurt where there's incidentally not one of the 30 companies in the dax in the black they're all in the red paris is down london is down the line is down and where investors going they're going somewhere with the money they're going to
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so-called safe havens among others german corporate bonds their prices are going up and that sends the yield down and the prices are going up so much that the yield is going down to a 3 year low so the investor is paying germany to take their to take their money. well but 1st the frankfurt stock exchange interesting stuff. now to some other business stories making news japan's nissan says it's not opposed to its european partners and no merging with chrysler that's according to tokyo's nikkei newspaper the deal could ends the over the industry there are reports the boast of porsche is under investigation officials are said to be looking into whether the approve disproportionate payments of the comic his works council dozens of police and inspectors have been searching portions offices as part of a broad approach. and european central bank says italy should obey the e.u.'s budget rules or face market punishment e.c.v.
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vice president louise to north says that it mean higher borrowing costs for rome that would hurt its economy even more generous spending programs on the italy's populace leaders have created friction in brussels. with. investors ditched them in droves last year now cryptocurrency is making a remarkable comeback the value of one big coin has surged 125 percent since the beginning of the year this month alone so half those gains pushing it towards the $9000.00 mark it coin was the 1st and is the largest crypto currency and has become the standard for digital currencies that built on a decentralized p.t.p. a network others include life light coin it's theory of z. cash and dash and big players looking to create their own new digital currencies facebook is looking at a product called global coin on the u.s. bank j.p. morgan has come up with its own j. p. m. coin very inventive it well let's talk to tell us how he's from the block chain
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application platform. so as is bitcoin finally coming of age i think so i think we're seeing like true mainstream adoption starting to kick in over 125 percent up. beating basically every asset in the world gold tech stocks s. and p. 500 and i think the main driver of that is institutional investors they really see the use cases behind bitcoin beyond speculation and i really putting putting assets in place should i be kicking myself i mean i was thinking about investing at the end of last year i don't want to go near it while the speculate is who are all involved in the prices were going crazy last year but could it be set for more of a roller coaster ride i mean who knows yeah absolutely i think it's easy for me to predict that i think we will see prices above 100 $1000.00 eventually in the timeframe of 3 to 5 years due to all institutional investors big companies like sam
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soon facebook already mentions investing jack dorsey founder and c.e.o. of twitter adopted the native internet secure and see already we see disappointing tech i.p.o.'s were failing so people are reallocating assets to emerging opportunities like bitcoin and we see next year to half thing so inflation will be cut in half and it becomes one of the most rarest assets in the world and now appealing many more investors what it does the say the native internet cure incident yeah it's not mainstream yet though is it and when when will it be yes i think the reduction comes from companies like for example some soon releasing their flagship phone the s 10 by default embed a block chain wallet or the wallet and enable currencies like list but also bitcoin to be featured on there and make it very easy for people to buy those assets and comes by coin days and buy names and others are all making the infrastructure much more accessible for the average joe so can you safely say it's no longer just
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a way of profits he is plunking plunking that money somewhere safe somewhere where no one can get at it. or is it is it a case that the speculate disaster laplae which i was really i mean it's still like a high least. full of the assets 100 percent for sure warren buffett one of the most greatest investors in our history called it rap poison so we're not all on the same page in that regard but i think that more younger tech and printers and visionary people in our industry are building infrastructure and i think people will follow suit eventually definitely the uses of the moment same endless like it's not just for investing and for exchanging it's also being used by known profits to help out needy venezuelans for example and heaps of examples absolutely i mean myself living here in germany we're lucky that we developed a stable euro but elsewhere in the world like in venezuela for example they have
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absolute hyperinflation of thousands of percentages turkey argentina zimbabwe are facing the same people are fleeing into it's going although being very volatile it's still a safe haven for dam in comparison to. government backed currencies and these briefly though do people have to watch out because there's still money laundering going on there are still critical criminal activities that use is because to get away with it yeah i think people shouldn't bother with it i think in fact there's people busted by by laundering money through bitcoin i think we're past that stage right now i think that we are seeing more mainstream adoption and actually the f.b.i. likes it in in a way that people use the bitcoin because they can track it once it reaches things are dark and so most think you very much for coming in today. and nice to business with you. like.
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the bowling all women what do you think why do we often earn less than men and why are we less likely to be promoted and why are we more at risk of poverty in old age is it the same worldwide or are there places where women are the higher earners closing the gender pay gap more money for women. made in germany 90 minutes w. . the us to go to the. channel. totally line of story. with exclusive. must see concerning parts closer to europe. you should be curious minds. do it yourself networkers.
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subscribers don't miss out. on how easy of you don't know. where i come from but over that to get to cisco just like those chinese food does measure where i am always reminds me of home after decades of living in germany china's photo is one of the things i miss the most but better take next step back i see things i need to differentiate now. friend of fluids personally going asians that exists as a part of the whole haven't been ever invented in china that's what you but i'm not a chinese people wondering if their forties say please but if people have a right to another poster that is this is their job just that of them on how i see it and i doubt the supply enough of my job because i tried to do exactly this hour
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a day. by the name of the uninsured and i work at the new. 2 lead. this is g.w. news live from berlin nigerian president mahmoud you bihari is sworn in for a 2nd charge the 76 year old one reelection in february after pledging to revive the economy. improve security and tackle corruption but many young nigerians remain unconvinced he is the right choice for their future also coming up the tussle for the top job in brussels is underway and it could last
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a while leaders are clashing over who should be the next president of the european commission a post-election summit in brussels has so far.

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