global trade disputes first you terrorists and u.s. x. sports come into fact this friday there will hit all american products like whiskey and motorcycles but will they hurt. out of the dow the u.s. top corporate index gives general electric its marching orders. behind bars for the banking crash that lot to your zones most costly states rescue. welcome to your business news it's good to have you with us this friday to this because first you tariffs and u.s. x. force factor will hit real american products like peanut butter whiskey and motorcycles trade relations between the u.s. and europe are under strain especially since washington impose tariffs on steel and aluminum. american whiskey tends to fly off the shelves at this

liquor store in berlin prices start at about twenty five euros a bottle of the finest stuff can set you back as much as eighty. some fear that tariffs on u.s. imports including whiskey of course will lead to price hikes. are but store owners the past year on call us is taking the levies in his stride they are due to come into effect on friday but for him it's all about pivoting to other regions after all american whiskey isn't the only kind on offer for life might focus more on german whiskey isn't the only kind to come from the us there's rye as well but there are very good german right brands to run whiskey is really in fashion so you can get people interested in it it doesn't have to be american whiskey. since the start of june there have been growing worries about an all

out trade war on june first the us imposed duties of ten percent on steel and twenty five percent on aluminum from europe europe has now retaliated with tariffs designed to target u.s. states that mainly vote republican it's a strategy designed to hit the u.s. president's support base the raft of new duties on emblematic american exports like harley-davidson motorcycles and whiskey will affect states like wisconsin missouri and pennsylvania as well as the whiskey heartland in the south kentucky and tennessee. president donald trump has hinted at the possibility of further sanctions directed at europe this time affecting cars that would be a massive blow to big producers like germany but for now it's difficult to tell where the tit for tat measures will lead and as the relationship between the us and the european union continues to deteriorate it won't just be whiskey lovers who are affected u.s.

commerce secretary wilbur ross spoke out against what he calls unjustified price rises in the metal and he says some in the markets are unfairly claiming on to inventory there is more. the price of steel and for a world the pros of aluminum we're not far more than is justified by the tariffs and so we are starting an investigation into that trying to find out whether there are people who illegitimately profiteering out of the tariffs there's no reason for terrorists to increase the price of steel by far more than the percentage of the term now the interesting thing in this whole trade spot is that the united states are suddenly the bad guys and china is the victim now president xi jinping has been sending a consistent message for over a year now which is beijing is open for business but foreign investors are telling

a much different story. whenever the cameras are on cheatin ping has a clear message for the global community seems you change your hearts and we have to say no to protectionism it would be akin to hiding in a dark room where you wouldn't be bothered by wind and rain but he would also not be getting light and fresh air. in speeches like in davos twenty seventeen the chinese president has worked hard to paint a friendly picture of an open market china every liable corporate and trading partner to the west. but for many foreign businesses in china it's an entirely different picture according to a study by the european chamber of commerce in beijing sixty two percent of their member companies feel that they are not treated as well in china as year up treats chinese businesses case in point take over foreign investments in chinese companies

are banned while china invests heavily abroad. if the result of american actions is that american companies treat. strictures eventually. instead of engaging through. positions of. twenty seventeen chinese companies spend thirteen point seven billion dollars on a corporate shopping spree in germany alone among recent transactions are the takeover of robot maker cuck up by media as well as major investments in german flagship companies like dimer and deutsche bank each of which has chinese investors holding a ten percent stake. what makes matters worse european companies don't seem to have

an edge anymore as innovators the majority of businesses see their chinese counterparts at least as or even more innovative. and other big news today the dow has kicked out industrial giants general electric its shares today down by a point seven percent she has been part of the dell jones industrial average for more than a century it was just recently one of the largest listed groups in the world but has recently fallen on hard times its stock price plummeting in the past year from twenty seven dollars to just over twelve on wednesday it's a controversial move general electric's is valued a lot higher than companies which are still included in the. leading index thank you note to technology and caterpillar investor say it's this disparity which makes adele bad for understanding the true value of corporate america and because the index is based on share price cheney's clearly far behind top firms like the bank

goldman sachs or apple they have share price is ten times higher than she signed off declining relevance perhaps but is the problem more on the side of general electric's or del let's get more on that from our correspondent on wall street can score to standing by he should be there there he is yes so general actually is out what does that mean for shell or shareholders. well and it was eight hundred ninety six when child's doll came up who was his favorite doll jones industrial average and as you mentioned g.e. was part of it then but the good days seem to be over for g.e. just in the past fifty two weeks the stock actually got hammered by about fifty five percent meaning the stock price got more in the hof what does it mean looking forward for the stock price well maybe not that much because we see that quite

often before the stock gets kicked out of the dollar jones industrial average we've already seen most of the pain meaning that the stock prices have been under quite some pressure so that after the recent removal we do see that those stocks actually once in a while outperform the broader market so at least when it comes to the stock price it does not have to be a doomsday for general electric right and just briefly if you could what does that mean that general electric's is out of the dell and it's replaced by walgreens a pharmacy cult any. well it tells you quite a bit of how the u.s. economy looks like in general and what are the main drivers obviously not. industrial corporations even if us president donald trump would like to see the u.s. becoming a strong industrial nation again it's more consumer orientated it's the health care business what walgreens is also probably in so those parts and also on top of it

for sure technology companies are far more important than those former industrial giants like g.e. or also like oco are for example that also got kicked out of the dow jones industrial average a couple of years ago can't go to new york thank you so much. the former chief executive of uncle irish bank is off to jail fifty one year old david dreier was found guilty of conspiracy to defraud and false accounting it's related to transactions he was involved in at the height of the two thousand and eight financial crisis. the former c.e.o. of the collapsed anglo irish bank was found guilty at the start of june today he was sentenced to six years for his role in inflating the lend his balance sheet in the lead up to its collapse. his bank was not alone in engaging in the suspicious lending practices that drove the celtic tiger boom and subsequent bust but it was one of the biggest play is irish taxpayers had to bail out the bank to take you to

thirty five billion dollars the case against him was nine years in the making. through the course of the investigation detectives listens to tens of thousands of telephone calls and uplifted almost one million files which require detailed analysis thousands of other inquiries were also conducted by this team both in ireland and in other jurisdictions including the united kingdom the united states of america the banks collapse had disastrous consequences for ireland to the taxpayer funds used to rescue the bank and mounted to a fifth of the country's economic output the bank remains under seventy five percent state ownership furthermore many ordinary people lost their homes during the financial crisis and many continue to struggle to pay off their mortgages while the hours she called me has grown evidence of the crash remains for all to see. europe's summer holiday just around the corner about some travelers may have to change their plans strikes could hit popular holiday carrier ryanair and gap pilots

and germany have walked away from salary negotiations for their ally the union wants the budget airlines pilots could hold strikes in august their counterparts in other european countries are also planning to strike. and that's your business frappe thanks for your company i'll be back tomorrow same time same place thanks for watching.

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