tv Business Deutsche Welle July 31, 2019 11:15pm-11:31pm CEST
the us led mission to protect shipping in the go moss says the country prefers to use diplomacy to de-escalate tensions with iran. and for the 1st time in more than a decade the us federal reserve has cut interest rates by a quarter of one percent president of the bigger cut but the reduction is in line with market expectations through watching t w news of next business news with stephen stick around for that. to me. not everyone who loves books has to go insane. literature list 100 must reads. well i guess sometimes i. think stevens or german culture can't
stereotype classic figures thinks he's a country that i don't. need to be fixed to describe. it's all that. i might show join me to meet the gentleman from your. post. as expected the u.s. federal reserve cut interest rates and believes many scratching their heads that the u.s. economy is strong why the need for even cheaper money is. also on the show go breakthrough no progress no deal the 12 rounds of u.s. china trade talks ends with the same result as the previous 11. and the new british prime minister brings new worries for business with the brics that brinksmanship into much dreaded no deal. this is your business report i'm stephen bears in berlin
thanks for watching it's a modest cut interest rates that has some scratching their heads the u.s. federal reserve has lowered rates by a quarter percent despite strong economic indicators in the country officials pointed to softening business investment and muted inflation it's been a long time since the last rate cut almost 11 years in fact that was december 2008 on the tail end of federal reserve efforts to prime financial markets during the recession it's only gone up since then in line with the recovering and eventually booming american economy now compare that to the european central bank where the deposit rate has long been below 0 and where policymakers are still cutting and that's putting even more pressure on the fed as rate cuts devalue the euro against the dollar affecting trade balances and then there's the pressure from u.s. president donald trump he's repeatedly pushed for a larger interest rate cut in fact saying today that fed chairman jerome powell had
let him down. jerome paul's delivery was in line with the dry and factual tone fed chairman have always displayed yet there was a hint of caution as he explained the committee's decision to cut the benchmark rate for the 1st time in over a decade for the federal funds it is intended to insure against downside risks from weak global growth and trade policy uncertainty to help offset the effects these factors are currently having on the economy and to promote a faster return of inflation to our symmetric 2 percent objective that trade policy uncertainty would be the result of u.s. president trumps ongoing fights with china the e.u. and even his north american neighbors any criticism of trump's policies might have been inappropriate for a fed chairman but trump himself had on relentlessly attacked the fed's policies demanding larger rate cuts to support pledging to act as appropriate to sustain the expansion of the fed signaled possible future rate cuts for the benefit wall street
however did not immediately react as such action had been widely expected. and let's go now to our financial correspondent jose luis de haro in new york who is it there you are so the decision finally made how are the markets reacting. you know it will stephen especially after listening to your own paul giving context . was more hawkish and done investors anticipated he was a very clear estate in just a minute cycle policy adjustment meaning it's different from the start of a long cut inside goal as we saw for example in 2007 obviously did not see it well with the investors who we are still seeing i believe 2 more rate cuts before the year and so we. will let everybody down with the decision. the fed likes to say that its decisions are data driven did powell in that press
conference lay out a strong enough argument for why. why he's cutting rates despite the strong economic data frankly in the us. stephen he was a pretty big reguard so was the. statement in bold the case is the outlook for the u.s. economy remain favorable while the current expansion was to find some staying power will mention that we should expect the job growth to be slower down last year but defended still sees the us a growing 2 point one percent in $21000.00 on employment and near record lows that this year also inflation should catch up with just below did 2 percent goal a situation which makes it harder for some to justify easing monetary conditions actually today's decision was not unanimous sense as kansas city fed president and every grossman when they had all boston spent can see to the need to wait and see
before gold we may head we've got to say that gold that that trade tensions hoppe return to a seamer and see is worried about international development such as the a slowdown in global economy. was a least a hollow there for us in new york thank you. the 12th time was not the charm apparently the latest round of u.s. china trade talks indeed without a deal and with both sides hardening their positions it looks like any agreements could be a long ways off. a few pleasant smiles an exchange of niceties then u.s. trade representative robert light ties are in treasury secretary stephen minucci got down to business with chinese vice premier her. there was little expectation of an agreement being reached before hand and the likelihood of that probably wasn't helped by the coinciding harsh criticism of china's economic policies by president trump one of his complaints that china makes promises but fails to follow through.
and beijing wasted no time in responding and what our new t.v. show will mean i think it's meaningless for the u.s. to pursue these maximum pressure tactics when someone is ill it's useless to ask someone else to take the medicine really the u.s. should show more sincerity in good faith when it comes to trade negotiations. the 2 sides positions appear to be hardening the white house is already imposed tariffs on half of chinese imports and has threatened to go further china has hit back with its own tariffs the result levies on 300 $60000000000.00 into a trade hitting the economies of both parties anyone who had hoped that the 2 sides who come together on wednesday was left disappointed when the doors reopened at a 4 hour is a quick photo opportunity was all that was left to do the american delegation
departed for the airport with nothing more to say. and speaking of trade brazilian economic minister paolo geddes says his country has officially started negotiating a trade agreement with the united states get it says the deal will be compatible with a trade pact recently made with the european union the announcement was made as u.s. commerce secretary wilbur ross was in brasilia to commemorate 100 years of economic relations between the 2 nations u.s. is pursuing closer ties with latin america's top economy and hopes to sell of more of a lot of products putting ethanol a key engine fuel. that's fairly weak since boris johnson became british prime minister and the fears are already mounting to his strategy of threatening a no deal brags that lead to just that as opposed to the better deal he says he seeks for businesses that's the nightmare scenario and more are now preparing for the worst. right now the opel plant in a port is closed for a summer break but soon it might be shut for good leaving over $1000.00 people out
of a job. would not be a true bridge any longer getting made elsewhere in europe john cooper has been working here for 40 years he worries about bricks it and the plants future. of what we build here to 24 countries and all of them. it would be a disaster said opal. and in general in london no one seems to care what's best for the u.k. it's what's best for the tears within the. far in the north of the country in scotland they seem to agree the new tory prime minister boris johnson was not particularly welcome the leader of the scottish government set scotland could leave the u.k. in the event of a no deal breck's it boris johnson seemed i'm concerned by the worries of the scots or the problems of the auto industry. it is
a sector facing difficulties but barrymore it just in the last few weeks you've seen big investments coming into talks would you like me going to be built by b.m.w. a new victory vehicle to be built. 1000000000 pound investment by jail in we will do everything we can to address the issues of just in time supply chains but we are going to go ahead and come out of the e.u. on october 31st and thank you. johnson seems more than willing to oversee a no deal breaks it even though the british chamber of commerce sees that as a worst case scenario. johnson says the industry's warning so overblown many voters in alice meal port agree even those who might soon lose their jobs at opel. many here would vote for breaks and
again like luis whitby who barely manages to pay their rent for her beauty paul or . maybe that is a hard. job saying they are the hard way this. is not enough anybody at the beginning. when he went off today will be put off. she might be in full route of making. a dutch me traitor suspected of being the kingpin of europe's 2013 horsemeat scandal has been arrested at a spanish seaside resort yun falzon was detained at the request of french authorities after a court in paris handed him a 2 year prison sentence in his absence earlier this month the case for outrage across europe 6 years ago supermarkets were forced to pull millions of suspect food products from shelves falzon allegedly made millions by selling cheap horsemeat as more expensive beef. and finally there is new hope for the. fate of the rhinoceros
scientists at america's san diego zoo say a birth there represents a milestone in efforts to save a rhino subspecies a baby southern white rhino calf came into the world without complications after its mother was artificially inseminated last year there are an estimated $800000.00 white rhinos in the wild but their species is being decimated by aggressive poachers in south africa. that's it for me in the business team thanks for joining us.
so consumer these changes. people possible to go to africa fantastic. as they set out to save the environment. to learn from one another. and gather for a. cold comfort. w. . the leg. length logo to the girl next to china. going to the final story. with exclusive. must see concerning culture to europe. to be curious minds. do it yourself networkers lead. subscribers don't miss out.
on some people for the information. the fans want to express g.w. on facebook and twitter the job today didn't touch the following. players. this is africa coming up in the next 15 minutes on the rink the resilience house u.s. house speaker nancy pelosi addressed the gunny in parliament today their visit 400 years since the 1st major shipment to america. and the man was 25 years off to run his genocide victim and perpetrator is going through the healing process to get.