tv Business Deutsche Welle June 24, 2019 10:30am-10:45am CEST
no. he fits in the pantheon of great tenors certainly he's one for the ages. of. 10 or for the. stars july 10th on g.w. . also only narrowly avoiding war the conflict between iran and the us is going into the next round washington has to announce fresh sanctions against tehran on monday it's an economy that is already reeling. on the show ahead of the key meeting between german chancellor angela merkel issues a profit warning saying investors can expect a serious hit to its bottom line. and kristen synthetic fuel is power the
way to a more environmentally friendly future progress is being met. this is your business i'm going to have an office in berlin welcome it looks like a military confrontation between the u.s. and iran was only narrowly averted last week off the washington blames tehran for attacks on ships in the strait of hormuz later today the u.s. is to announce a fresh round of trade sanctions against iran is the latest development in a political ask the escalation between the 2 countries over iran's nuclear program u.s. president donald trump said he hopes that fresh sanctions will bring iran back to the negotiating table. for many iranians it's becoming increasingly hard to get by the reintroduction of u.s. sanctions has had a crippling effect on the economy. the value of the rio has plummeted pushing inflation to over 30 percent and us president donald trump's attempt to destroy the country's oil industry is having an effect to. the lifting of sanctions in 2016
rapid growth of more than 12 percent but their reimposition last year dealt a massive blow the international monetary fund is forecasting the iranian economy to shrink by 6 percent this year the withdrawal of foreign companies has also driven up on employment european firms that have left include car makers mercedes and peugeot but smaller firms are also becoming increasingly wary of doing business in iran should iran follow through on its threat to enrich uranium beyond permitted levels the nuclear deal could collapse entirely in that case u.n. sanctions would also be reimposed a move that could bring the iranian economy to its knees eichel talk germany a rainy and chambre of commerce and joins us now from. the situation in iran what
are you hearing from your contacts well the sanctions are very few and visible in the streets of tehran for every hearing in the in the last weeks and months prices for daily products increased dramatically. so these sanctions are not specific anymore they are not the against special companies the war against the country the sanctions hit the effort ukrainian all over the country german and european countries do not have to comply with the sanctions against iran nevertheless trade sharply why. it has flown through a metal e.u. for the 1st quarter of 2019 we as german companies exported around 50 percent off the amount of goods and services compared to the year before so you can realize that business gets more and it more difficult not from the legal side
it gets difficult from the practical side from the side of money transfer and it gets difficult from the few years our american friends spreading here in germany and in europe. is done on the practical side that money transfers the e.u. developed a new payment system just the beginning of the year to circumvent the u.s. actions what happened to that did that help well it's started i think at the end of general and still it's not really working practically at the moment in sticks is the name of the system place no role and we received already the information that in sticks if it starts will start with production which i'm not even under american sanctions this means human hereon goods and food stuff germany's backbone of the exports to iran machines they build not be touched by
intakes at least in the 1st round but you would just recently in russia what role are countries like russia techie china playing playing in this conflict where we have to see clearly that europe failed to to fulfill its obligation ot off the atomic agreement and so russia china countries like even to make it more important in facilitating trate even between europe and iran and so we have to go where we can support our member companies and if it's russia it's russia if it will be china we have to go to china i could talk us on the journey iranian chamber of commerce thank you very much thank. and now to some of the other business stories making headlines this morning the u.s. federal reserve is quizzing deutsche bank on its reports of plans to create a so-called bad bank and to shrink close investment banking outside europe the fed
wants to know what the implications are for its business in the united states. british bangalore's has frozen the accounts of about $8000.00 offshore customers as part of a crackdown on money laundering the largest retail bank in the u.k. made the move off to the customers failed to provide evidence of their identity is by being asked several times over the last 3 years. bitcoin surged past $11000.00 for the 1st time in more than a year by a weaker dollar and fresh enthusiasm for crypto currency the digital currency is notorious for its volatile price swings between 2016 and 18 investors sold big corn sold from just a few $100.00 to more than $20000.00 before plummeting again. coca-cola and china's top dairy producers have signed a global olympic deal as joint beverages and dairy sponsors starting from 2021 a new deal with china venue makes coca-cola the longest running sponsor with the
games having started in 1028 no financial details were disclosed. through german comic a dialer has cut its profit forecast for 2019 that's the 3rd such warning the stock up based company has made so far this year it says a higher than expected bill for software upgrades over diesel vehicles is responsible for the continuing fallout of the emissions cheating scandal the profit warning comes at a decisive moment for mrs benn's parent company's new boss all of us will meet with german chancellor angela merkel later on that along with other car industry bosses to discuss the future of the sector in germany. now let's bring in our stores he joins us from frankfurt a bit of a shock for donald versus there is that really all down to d.c. . where you get the stock is down 4 percent nearly 4
percent and it's the biggest loser on dags 30 but having said that i don't think so it's come as a complete shock for the investors the company has been under investigations in europe as well as the united states because of the diesel scandal and just on saturday 60000 diesel cars were ordered to be recalled by the german transport ministry so there it has been facing a lot of backlash because of the diesel scandal and that that scandal is far from over there are many other investigations that are doing the rounds then also in april the company was found guilty of colluding with fellow german carmakers in actually hindering the clean emissions technology now back then. said that they did not expect any fine but b. end up to set aside 1000000000 euros so clearly this could also be because of not anticipating any find there. what do you think is the 3rd profit warning will be
the last for this. how well it's difficult to predict the financial fallout of the diesel scandal is very difficult to predict at this point of time add to that there are other uncertainties also there is the slowdown in china the key market for dime the causes of for levon straight quarters in china that's going to be a huge problem going forward then also the us china trade spat there is no end in sight as to how it's going to pan out going in the future and last but not least is the specter of u.s. tariffs on european automobiles and remember that was only postponed last month but something on that could be decided later this year. a story on the thank you very much. following cars without making global
warming worse will be a key top for the automotive and energy industries synthetic fuels made from renewables could play an important role to help mitigate the effects of the drastic change in our economies that we experience in the future to make them carbon neutral and there's been some progress in that sector. roland device ed sees him self as a pioneer of synthetic fuels he wants to change things for the better you know followed suit he didn't go even using synthetic fuel in our own motor pool for 3 and a half years now it's a big help in becoming climate neutral it convinced us and we want to show others that it works that it's good for him synthetic fuels are a way to continue driving and still be environmentally friendly and it's good for business. amongst his many energy interests owns a filling station in doing it he sells biofuel they're made of 100 percent waste plant oil it's a pilot project only found in
a few places in germany synthetic fuels aren't sold at public filling stations they're still not profitable biofuel is more expensive than crude oil based but he offers regular customers discounts. at the german aerospace center in stuttgart scientists are researching synthetic fuels. to make them hydrogen is produced using electricity from renewable resources the hydrogen is combined with the c o 2 from the air to create the synthetic fuel but these so called a fuels are still in the test phase plant based synthetic fuels made from residual materials and bio waste are already available on the market. and the 1st of all we're developing synthetic fuels to reduce c o 2. but there's the additional benefit that pollutants are reduced when it comes to particulate matter you can assume from the outset that they'll be cut in half you can even get the
particulates levels close to 0 really. professor eichner and his team are investigating the optimal mix is it possible to reduce c o 2 by 70 to 90 percent with synthetic fuels there's still a lot to be done to introduce them but don't expect to be gassing up with professor agnes synthetic fuels anytime soon researchers reckon that those fuels will be used primarily in ships airplanes and trucks. and that's it for me and the business team for have more business news and analysis go to websites to w dot com slash. don't go away.
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weeks of excitement emotion not sucks its way to 98 limbs move. the goal posts the results on d. w. me. hundreds of thousands of hong kong ers are taking to the streets to protest their government. mark over and out. the 17 year old zach ho is one of them they oppose a proposed extradition bill that could put hong kong's freedoms and the city's autonomy from the chinese mainland at risk. well. well. well.
well. sakho is about to finish 11th grade in school it's also final exams week but since the protests shook hong kong he has found little time to study although there is maybe functionary at this time but they i am doing the right thing i use my fair share. for. paul paul. he and his friends have founded an activist group all of them high school students. that sounds like you are in trouble.