tv Business - News Deutsche Welle October 13, 2017 6:15pm-6:31pm CEST
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this after the u.s. crashed out of qualifying for next year's world cup read it was called on last november to replace you're going to clinch many china next to her dozens of giant panda cubs have made their public debut as a conservation reserve in the southwest of the country all of the cubs that were born this year and ranging in ages from one to five months it's been an unusually successful year for the panda breeding program in china as the sichuan province total forty two camps have been bored the most in the program's history. clearly we can't get enough of them this is state of the news in just a wry with the changing scandal reverberating around the world to dima a general motors boeing and us and general electric are amongst five hundred customers who receives top standard woman terry holt and japanese steel makers kobe
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elf us will have those stories on the rest of the days of business news and awful for you at the top of a good day. when the history books mark brought to life. maybe the stories they're in will get a rewrite. of the story of the russian revolution. from the perspective of writers thinkers kong artists. what did it feel like to live in times over the revolution and the people. and to the russian art revolutionaries. nineteen seventeen the real october starting october twenty fifth on d w. the whole d w one out. for in focus global insights the news that your local heroes. d.w.
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made for mines. the cheating scandal around japan's colby's steel widens dramatically substandard copper and alimony and was sold to five hundred customers including comic. actress and even nuclear power plant operators. sas of sorts to a sixteen year high after the successful takeover of by rival abdullah and pilots and crews are left in. this state of your business as in berlin. there's been a dramatic new development in the certification cheating scandal around japan's coby steel the company now says it sold products that failed to meet required specifications to hundreds of customers among them car makers well ways aircraft manufacturers and even nuclear power plant operators it also notes that management
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knew about the problem much earlier but did not inform the customers. that gesture of humility as it emerged the falsifying of product quality certificates had coby steel had gone much further than had previously been disclosed you know well. right now our top priority is to find out the cause to take preventive measures and to examine whether or how our inadequate products have affected our users. i plan to put all my energy into this effort. psaki said the company had uncovered nine more types of products whose inspections had been faked or manipulated more than five hundred customers were affected among them boeing which used coby steel with fake quality certification in airliner fuselages these latest problems were discovered with shipments of more than eleven
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thousand tons of steel copper and aluminum products the quality cheating wasn't limited to one location but found in products made by cobie and its affiliates in japan china malaysia and thailand. coby admitted some cases had been discovered much earlier and discussed at board meetings but not made public. the problems disclosed by japan's third largest steelmaker are just the latest in a slew of corporate scandals that have shaken the country and dented its reputation for top quality manufacturing. which is another scandal the c.e.o. of samsung electronics has resigned in the wake of what he calls an unprecedented crisis that's despite the firm being on the verge of declaring record profits hughes made in announce he would step down in march in a letter to employees the sixty five year old said he the company needed new
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younger leadership has been the public face of south korea's biggest company since the previous chief executive of the parent company e.j. young was sent to prison on corruption charges this year. global financial leaders are gathering in washington for the annual conferences of the international monetary fund fund and the world bank also a gathering of g twenty financial officials is wrapping up there today the talks started earlier this week and conclude on sunday they provide a wide ranging forum for government officials academics and business executives to discuss global economic trends the i.m.f. forecasts the global economy will expand by three point six percent the fastest rate since two thousand and ten and my colleague the phenomenas in washington and he has covered this gathering of the world's financial bigwigs kasten what was the focus there this year. well this is
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a huge conference as you said the finance ministers and the central bank governors of almost one hundred ninety countries but also there are many many more people from the world of finance here there are dozens of panel discussions and seminars here on topics ranging from financial stability in the world but also development topics such as water suppliers in rural areas and in the growing big cities even to the point of looking into child care for working parents so this whole range is covered here but of course the main focus was on the assessment of the world bank and the international monetary fund on the world economy as you said positive outlook right now christine lagarde of the i.m.f. says two thousand and seventeen is the strongest year since two thousand and ten and it will be more growth in two thousand and eighteen but at the same time both
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the i.m.f. and the world bank say we have to be careful we cannot be complacent because there are some risks at hand there's a tendency for more protectionism in many countries including the one we're here right now in the united states also there's a lack of investment so the i.m.f. and the world bank fear if nothing is done here. maybe the world economy is not ready for setbacks in the future. because of the financial community there is also saying good bye to food german finance minister of all. they sad to see him leave briefly if you can. yes they are because of course one of the longest serving finance ministers here and the germans who also presided over the g. twenty for the last months have made their focus on stability on reducing that's on consultation of budgets so to bring the world economy into
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a more stable waters and of course. who is a proponent of that kind of policy will be sorely missed with all his experience and authority. and washington thank you very much canadian prime minister justin trudeau is in mexico city to meet with mexican president enrique pena nieto he's there on the heels of a tense trip to washington where the fourth round of nafta renegotiations began on wednesday the leaders dodged questions about the u.s. president's comments made a day earlier that he might see bilateral agreements if the u.s. walks away from nafta instead both leaders reaffirmed their commitment to a trilateral renegotiation of the north american free trade agreement. in the end i wouldn't take seriously whatever is said during the course of these negotiations. i wouldn't pay it more attention than what's being said at the
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negotiating table. it's from that negotiating table where the agreement we hope to reach will eventually come. around which you know. we will continue very seriously the work we do. we will know we want anyway from the table based on those with ford we will discuss those proposals and we will counter those proposals and we will take seriously these negotiations. german chemicals john baez says it's going to sell parts of its our great chemical business to compare it to a beer with for five point nine billion euros the deal could help secure regulatory approval and finances for its much larger plan to take over u.s. seed maker monsanto baez mega takeover of monsanto which is under review has created concern that the merged companies would dominate global food supplies.
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well let's bring in our financial correspondent now the man of the fine food stock exchange and how does this move really make for a smooth regulatory approval for the ones on to take over. well investors certainly seem to think so buyer is one of the clear winners in trade in today's trading it sought stock up more than one percent now this isn't just some cosmetic strategy on buyers part the business is that it's getting rid of actually generated sales of one point three billion euros last year so this is a big deal and this would indicate some seriousness on the part of buyer to get on the regulators good side now it has to be noted that those same regulators all friday approve the megamergers in the same sector dupont and dow jones and johnson chemical china but what have you concessions from the parties so this could just be buyers a way of getting ahead of those concessions that it would have to make down the road anyway a very successful i.p.o. happening there in frankfurt today tell us more. yes today was the first trading
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day for a ball to box that is a company that makes battery systems for electric commercial vehicles like forklifts and buses now it's the first company that's dedicated to electro mobility that's made it to the dock so investors obviously very excited that the stock was trading at thirty euros today much higher than the initial issuing price of twenty four year also very impressive for a company that has yet to turn a profit so now then frankfurt thank you. after last hands a successful bid to take over the family silver of linux bankrupt german rival not everyone is happy while investors applauded the shares hit a sixteen year high today pilots cabin crews and other stuff are deeply worried. every limb pilot of a new voice is on his way to the security area of berlin stiegel airport he has flown for the airline for eleven years as an employee representative he supports
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his colleagues and knows many of them are worried he is concerned himself but friends and relatives have little sympathy they think lufthansa will take on most of the employees. because that's always the problem you hear oh well you still have a job or there's worse things than going to love tons of but that's not the case worker will simply move over to move tons of first they work for a year away that means low salaries and if you shop in if you will decide who can stay and who can go. so. far it is afraid those who don't make it will of tons of euro wing subsidiary in austria will face a tough choice. since each all the other jobs are in foreign countries like india or china you have to talk it through with your family a family that suddenly changes everything but it could all turn out differently anyway ryan air and other former a bit of want to appeal to european courts they are convinced tons i was unlawfully
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favored for the deal antitrust authorities have also shown concern they fear tons i will have a monopoly on certain routes what's ahead is a cliffhanger and no matter how it ends the employees will lose the battle. that's it for me and the business team here and we'll have an update for you in the next stop thanks for watching bob.
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