tv Business - News Deutsche Welle February 5, 2018 12:15pm-12:31pm CET
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i mean it's still a long time coming and you know i know there's going to be a lot of celebrating tonight tears were flowing in the streets of philadelphia a first ever super bowl ranking is the city's proudest sporting achievements i've had with that you are up to date now on news i'm sarah kelly and berlin at the short break gary hart. has more news. with different languages we fight for different things that's fine let me also think up for freedom freedom of speech and freedom of press. giving freedom of choice global news that matters w made for minds. weeks about. the still
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inside. it's all about chance to discover the world from different perspectives. join us inspired by distinctive instagram others at g.w. story topic each week on instagram. flying high budget carrier ryanair records bumper q four figures and is expecting high a passenger numbers too but it's time to warn passengers that that tickets might become invalid if fake rules are cleared up ahead of bragg's it. also is still strife how u.s. president. import bans on steel will affect producers around the world. this is the deal. your business i'm get out of as welcome
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a south korean appeals court on monday free the heir of the some some group needs a home after nearly a year of detention the cold suspended the five year jail term here is see for bing the country's former president the forty nine year old heir to one of the world's biggest corporate empires was detained in february twenty seventh seen a lower court had jail leave for corruption in a political scandal that rocked the country and led to the ousting of president park in haiti. finance flying high with its latest quarterly figures showing its earnings saw twelve percent to one hundred six million euros that's despite the cancellation crisis a few months ago when thousands of flights had to be cancelled due to a problem with pilot scheduling the resulting chaos cost the irish budget carrier its position as europe's biggest airline by passenger numbers in favor of enlarged by its recent takeover of. ryan as figures also come after its announced so-called
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brags it claws are flying to tickets sold for the summer of twenty nineteen that's the warnings of passengers that their tickets will be invalidated if regulations remain unclear after the u.k. leaves the european you. have a quick check on the markets man in frankfurt is daniel cope today here danielle following wall street mainly stocks went down last week on the whole we're coming spec this week. yeah they go hard well the little guy here in the brick around the bear is really the problem here this morning at this stock market giving investors quite some headache yes we really have seen quite a correction at the stock market remember and generally twenty third we had a record high in the chip index next with thirteen thousand five hundred points already on friday shares were dropping this morning we also down with about half percent the main reason behind this high interest rate in the united states that's
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what many people are fearing could happen investors don't really like this is usually taking liquidity out of the market and that's why we are seeing this quite a rather big correction here at the stock market the new federal reserve chairman drome powell will be sworn in later today investors expecting that. well remember that mr powell has been already working for quite some time at the fed he was in gov position there and he has been mainly following also janet yellen was doing he was always in favor of higher interest rates so people here are thinking that he will be doing this as well we might see up to three maybe even four interest rate hikes this year there was just one of a situation that is very that is seen very different by him he is more in favor of more regulating when it comes for example to banks but it's going to be very
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interesting to see how the monetary situation in the united states will be going and maybe even changing this year. been trying for thank you despite all the doomsayers were predicting the eurozone economy is doing quite well expanded at its fastest rate in a decade in twenty seventeen completing three years of consistent growth accordingly despite a slight dip from a seventeen year peak business sentiment also remains high it looks like it's going to be a good year but there still are risks. the economy of the nineteen member single currency union posted its highest growth since two thousand and seven before the global financial crisis the european commission statistics body euro stat says annual g.d.p. growth for the bloc went up two and a half percent that growth was largely driven by france which has
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a new economic impetus with a manual make haunt the reins and spain which expanded by just over three percent in. the value of goods and services produced in the eurozone has been rising steadily. in twenty fifteen eurozone growth rose by one and a half percent. in twenty sixteen the eurozone economy grew by one point seven percent. and last year the economy charged ahead by two and a half percent. this momentum was partly because the european central bank in frankfurt has pursued a huge stimulus program slashing its main interest rate to zero and buying billions of euros a month with the financial assets known as quantitative easing the e.c.b. has gradually been typing off these stimulus measures which were introduced in the wake of the financial crisis last week e.c.b. president mario draghi hinted that the strong euro wouldn't affect the block's
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economic prospects but he said global factors were a wild card that could have a negative effect the european commissioner for economic affairs pierre moscovici said the eurozone would maintain its momentum at least into twenty nineteen but he hinted at worrying issues including a lack of investment persistently high youth unemployment and stubborn public debt . of all sounds very good about will it remain that way let's bring in mark was very he's an economy economists rather at the university of sun-god in switzerland marcus druggy mentioned global factors as a wild card but does it does he mean with that. always wild card he probably means the wia guys i mean north korea can be on the phone and mr trump you never know what's going to be happening in the next tweet so global factors could be nice or it could be political issues in europe take the german grand coalition discussions which hopelessly hopefully will finish today we have elections in italy
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to come up so there are a lot of political factors which could in fact. affect the economy and the boom situation in which we are in right now you mention italy that greece spain and italy indeed all growing so can we say the euro crisis is well and truly over now it's just been covered by the e.c.b. one terry policy the negative interest rate so if you took these options two to. structure and change your public debt situation is germany did it's good but in italy they haven't done it they state of bliss one hundred thirty five percent g.d.p. to debt ratio and greece obviously has a lot of problems with its structural reforms so it's not over yet. do talk about greece and italy we've been hearing a lot about the some of the banks in the europe especially in southern europe. not
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hearing much from them anymore as everything's safe now no not at all i mean we heard a lot from italian banks last year i mean one deposit the sienna and the toxic credits and essence in its balance sheets so this is still an outcome out of the financial crisis from two thousand and seven and two thousand and eight and it's not been solved in southern europe why has it not been solved it because i mean take take the basel agreements on soaring death caps in the balance sheets not been solved as a structural reforms have not been solved and on the other hand obviously the banks scrutinise and squeeze by new problems take the fin text the bitcoin situation the out coins so the entire digitization issue in banks so business models are not yet there i mean take your bank's last week's announcement so you don't really see a new business model for these banks in particular in southern europe advice really
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sleeping on these new trends on on on bitcoin on you mentioned fin take. i don't know where they're sleeping but at least they're very slow they really do not take these issues up but they are cannot do it out of a situation of threats i mean take the automotive industry they are facing the same situation with results and hours driving and so forth but they're doing it all over the situation of threats and the banks are not in a strong situation so that's in the main problem and on the other hand they don't have had the smartest to change it. not the sort of from some gone university thank you very much for joining us in the studio thank you both u.s. presidents donald trump from is to revive america's steel industry by curbing imports from china therefore people the so-called rust belt states traditionally strong in the car and steel industry have voted for him analysts expect donald trump to issue an executive order to that effect this week but sweeping import bans
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would hurt companies elsewhere in the world a lot more than chinese steel produces. u.s. president donald trump signing an executive order one of his favorite ways to get things done one executive order he'd like to issue would restrict the import of foreign steel. america's steel industry has been in sad shape for two decades dozens of steel plants have shut down at the cost of almost fifty thousand jobs at the same time subsidize steel plants in china are running at full blast spewing cheap steel onto markets around the world eighteen years ago over half of the world's steel market was shared by europe the united states and china but by twenty sixteen china had gobbled up market share and the steel industry in the u.s. and europe went into steep decline. measures adopted by both brussels and washington to stop the inflow will keep chinese steel were useless in the meantime the united states is a virtually stopped buying chinese steel steel from europe now represents fourteen
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percent of imports so if the u.s. makes more moves to curb imports of foreign steel they will definitely be more damaging to european than chinese steel makers european companies like to sing and . are likely to be the first to be affected. and that's it from me and the business team. have an update for you in the next hour in the meantime do check out twitter and facebook accounts before you go is a real time check on global markets. thank you very much wolf.
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