are you watching d w new still to come are the wheels coming off for over the ride hailing company is dealt a big blow europe's top court says hooper is a taxi service not just the now we'll look at the fallout. we'll have that story and all of your business headlines coming up one minute. we speak different languages we fight for different things that's fine but we all stick up for freedom freedom of speech and freedom of press. giving freedom of choice global news that matters d. w.

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a nationwide carbon market to prevent global warming. business is the biggest name in the growing economy which engages temp workers and it's just it's biggest roadblock the european court ruling the app doesn't just connect people watering a bride with those trying to earn some extra cash that is a regular transportation company and needs to follow the rules a simple app a couple of clicks and before you know it is waiting he or she drives a private vehicle and is basically just an ordinary citizen that was the original idea behind but after countless battles in europe says come to have it that easy the bombshell came on wednesday with a ruling by the european court of justice a spanish taxi drivers association submitted a complaint of unfair competition by the u.s. company in response the top european court decided it were folds into the category

of transportation rather than technology services and just like any other taxi company it's therefore subject to regulation from now on all drivers need a license to work that's already the case in many e.u. countries vehicles must also be officially registered as taxis something that could put the brakes on business model. the ruling is a milestone for taxi companies erupt wind they've continually protested against like here in romania at the end of november the us apps rock bottom prices meant customers turned their backs on the stock taxi companies but now it seems may be heading down a dead end street. brussels correspondent max hoffman if this signals the end of the road for. well the end of it would probably be a little exaggerated here but it will probably have consequences in spain at least

because what the european court of justice has said now is that countries can regulate as a transportation company as we understand the ruling they don't have to do it so if some country chooses for example to regulate we were in a different set of rules or established new laws saying we like the way it is they are free to do so but they want to regulate them as taxi companies then they're allowed to do this in many countries have chosen to do so for example germany for example france also here in belgium we have but those drivers also need licenses they also in the training so this will drive up the cost of this will obliterate their unique advantage that they have in the past and this will benefit the taxi companies but it will not be the end of it because as we were already has stated that is true there are already being regulated as a taxi company as a transportation company in many countries in the european union the german

business sector is calling on bolin for a tax over the whole in response to trump's plan it says europe's biggest economy will need a competitive boost to head off industry moving to the united states the u.s. senate has passed publicans one and a half trillion dollar overhaul but the house of representatives must first take another vote off the procedural violations the president donald trump wants to sign the bill into law before christmas critics say the package is a deficit bloating giveaway to the super rich republicans out the tax cuts corporations small businesses and individuals will bolster economic growth over to daniel cole out frank financial correspondent daniel what's the opinion on the trading floor there in frankfurt is is it a good or a bad bill. well actually investors here have very different opinions regarding this topic ben some are really saying well it's a good idea because you know what donald trump is hoping to get from this tax reform that the u.s.

economy is going to get another boost with this also european and also germany german companies could benefit others are also saying that this move this is tax reform could be actually very dangerous could be harming european could be harming german jobs because many country many companies might say well we might be shifting our locations over from europe to the united states because there we have those very low taxes at the moment that's also why the. that's the german s's nation for industry is really saying that germany needs to be more compatible when it comes to taxes that there needs to be much more attractive tax system with also a lower corporate tax here being in force in germany as well and what happened to monday's dax rally when trade is thought the bill was a good idea those gains of petering out what i thought on my final day here before christmas i could be announcing that we see this dax really again happening

but is actually not the case we are down at the moment many experts are already saying that mostly all this well that was coming from the tax reform is already was already in in this of booze that we saw on monday so no big boost here at the blue chip index that's today better than your gold thank you very much. reform is in theory a domestic issue but the u.s. is the world's biggest economy and such a substantial change to its tax policies will impact global markets coupled with looming alterations to america's new trade policies the tax scheme contains big risks for foreign companies. trade between the e.u. and the us is booming but will it continue to do so much of donald trump's trade plans remain unclear for example early versions of the republican tax bill included a twenty percent excise tax on companies purchases from foreign subsidiaries that was aimed at discouraging american firms from producing abroad but it would also

have hurt to german carmakers with plants in the us that import their components from germany. now there's another threat of higher g.t.s. on imports that frightens us because they're unpredictable and don't comply with world trade organization roles so nobody knows what effect they'll have. there are now concerns trumps reform could trigger a global race to lower corporate taxes the e.u. average is around twenty two percent slightly higher than in the us after this legislation takes effect in many countries rates a much higher including germany where it's around thirty percent that could lead to german investment being diverted to the u.s. . one thing trump is certainly successful at is stimulating the american economy and if he pushes through massive tax cuts in the u.s.

that will lead to german companies investing there to store. them as a result their profits and jobs could shift to the u.s. as well america first trumps favorite slogan is getting a boost from the tax reform package. would trump repatriation tax is an incentive for companies to bring overseas money back home talk is of around four trillion dollars we asked analyst michael hewson if that could help pay for all the other tax breaks. i think as with donald trump you have to look a little bit behind the rhetoric a four trillion dollars is not an insignificant amount of money let's look at it in the round of these tax cuts accounts for around about one and a half trillion dollars over the next ten years while some online that's a little bit of a rounding error the u.s. deficit will the u.s. run about twenty trillion dollars as it is at the moment to g.d.p.

so i think you know the truth is probably somewhere in between and ultimately the u.s. is only bringing corporation tax rate down from thirty nine percent to twenty one percent and it will pay said their journeys tax rate is around thirty france's thirty full on island twelve so i don't think it's going to cause that amount of significant disruption in the longer term environmentalists appraising china's decision yesterday to create a national carbon market it could become the world's largest exchange for emissions credits the plan is to force power plants to buy c o two city if it's in order to produce energy experts say putting a price on carbon dioxide is a vital step if the planet is to prevent catastrophic global warming china is the world's largest producer of greenhouse gases a dozen countries and territories in north and south america recently announced they'd start similar programs it's been a contentious issue in australia and critics say europe's system has been largely

ineffective. its billion now asia correspondent based in singapore and grey haying and so how's this going to help clean up china's act. well china is this is a very big move for china being the top bit of carbon dioxide in the world trying to do this by market based bigness of done that means it's using a covered credits exchange and if they're not for the details of that but if it's anything like the program that is being practiced in the e.u. this puts a cap on the amount of the volume of carbon dioxide that's being emitted by factories and plants in china but will it work to reckon. i don't like any of that many of china's in vicious play and it is very hard to see whether they are not there will see any media results that the intent while the country has tried to limit the amount of coal and use this winter has had to recall the rise the use of coal in northern china due to natural gas shortage so it needs to lead on the

foundation before proceeding any further with such grand plans ok but i've heard they won't be introducing carbon futures to help the fight help in the fight against pollution is that right. that's great to see they're not doing that at the moment it doesn't like china doesn't like. this is in it so when us and enjoy markets as we've seen over the years. that's the bees that's the exact reason they don't want you know inexperience treated us who aren't used to treating cold to be able to cause market panic that being said trina is still conducting feasibility studies in some regions and some exchanges so it's not being ruled out at the moment ok playing it safe and breaking first i thank you very much and i was doing business with a. lawyer

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