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tv   Business - News  Deutsche Welle  September 10, 2018 1:15pm-1:30pm CEST

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williams of zero six in damages monica jones will have dot story and a roundup of your business headlines coming right up. your smart t.v. the smarter the d.w. first want to. what you want when you want to up to date extraordinary. to decide what's on sunday oh boy. dot com smart to be. a news analyst mr lucas let's focus on some. of the so-called changes on the
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british consul side by. playing. the play put big dreams on the big screen. movie magazine on the w. these again scandal has reached germany's courtroom a test case against fox five opens today if loses it could be forced to pay billions of euros in damages. also on the show private debt in china is on the rise and that's fear it might be out of control. of business the first major court case against folks lacking in germany over its cheating and emissions tests involving millions of diesel cars begins today it will
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examine whether the auto giant should have informed investors sooner the case that will be heard in a court headquarters in while spirit is a test case if successful it could unleash a barrage of similar claims related to the so-called dislocate scandal. who knew what and when the decisive questions branch wykes top court has to answer in this test case did fox walk in way too long before informing shareholders about the emerging a mission's cheating scandal and is it therefore liable for substantial damages. the suit has been brought by the dic investment fund it wants two hundred million euros damages to cover its losses. but another seven thousand five hundred shareholders who lost money over the emissions scandal lined up behind data altogether v.w. shareholders are claiming nine and
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a half billion euros the figure is based on the forty percent drop in three w.'s share price in the first two weeks after the scandal became public. dicko investment claims v.w. management knew about the emissions cheating devices installed in its vehicles long before then and should have informed shareholders if take an investment wins this test case it would be followed by a veritable avalanche of claims. so what are investors making of this test case against fox lying let's ask our man in frankfurt. we're talking about something like nine and a half billion euros claimed by shareholders is that a bit like biting the hand that feeds you. good point monica and yes the money the damages will eventually be paid by the company not the managers the executives who were in charge at the time this is likely to be taken into
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consideration in the courtroom and it makes it more likely that this will end with some sort of settlement and not with you know a clean cut when all loss and of course i mean i just have to repeat again nine and a half billion euros the amount is staggering and it truly is a first for germany isn't it. yes you know litigation cases where such large sums are at stake we're used to hearing about them from the united states and not from germany what's also new here is that a company like de kock gets involved you know this is not a hedge fund this is not an activist investor this is not a company trying to make money in the litigation industry they kind vestment is the fund manager of the german spa customer public sector savings banks networks managing the money of millions of german mom and pop investors you know money this
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diesel's gate scandal has is a bit of a showcase for what can go wrong in trying to manage a global company and this court case now obviously shows that the ways of trying to make good for the wrong have to become a bit more global as well all right and what are people in frankfurt thinking i mean what are the chances for plaintiffs to win this case briefly. many people in the financial world are confident also because the top lawyer leading the plaintiffs side has a reputation for not giving up he won the last large shareholder case here in germany that was against the telecom. cannot wasn't in frankfurt thank you so much for this. turkey's economy. he grew five point two percent during the second quarter of this year growth has slowed down amid the country's currency crisis chronic inflation remains a major problem for the economy turkish president added one believes high interest
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rates which could help fight inflation a bad economy growth us sanctions on turkey have also done little to help its economy last year to his g.d.p. expanded seven point four percent its fastest annual bates' now the economy is expected to grow three point three percent this year. with all these figures i spoke to gareth jenkins of the institute for security and development policy in istanbul and i asked him what to take his economic decline could mean for the country's political stability. well fortunately for president are there any doesn't have any real domestic challenges that he is facing in terms on the national level but there are local elections coming in march next year people do tend to vote and so he very very local elections coming in march next year and people do tend to vote on national issues as well so it's going to be a bit of a challenge for him i think going to fence local elections in the biggest grip on parties so. that i don't think he really you know risks losing his position
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at the same time things are going relatively badly in a lot of areas in turkey and i think for aggro and he's desperate for an achievement and he's desperate for syria not to look like a setback but here we are also and for us we may see him being more aggressive i guess just very very briefly germany says that it has a strategic interest in sound economic development in turkey could that help add one if so how. well you at one of the moment wants money but i think for anybody's going to give them money they want to see a complete overhaul of the economy and then to the crony capitalism it's come to define that search economy and a lot of structural reforms as well so i think you know it's crazy perchance for america to say this but actually making this happen making the economy stable is a major challenge a tall order gareth jenkins there from the institute for security and development policy talking to us in istanbul thank you so much. to the asian powerhouse china
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now the country has a huge debt problem beijing wants to ensure that economic growth is independent from the global economy domestic spending is encouraged and is booming but a lot of chinese live on the take kiss especially the younger generation tends to live beyond their means experts of sound. as a freelance interpreter lead bay doesn't have a regular income she gets paid job by job and uses her credit card to tide her over she lives in beijing but comes from corn maine when she bought a flat there she took out a mortgage to pay for it. over the past five years the volume of personal loans in china has doubled lenders send out text messages once a month to remind debtors to pay their instalments. backwash. being in debt is part of modern life the way things are nowadays you can't get by without
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credit just look at home prices when my parents were young the problem didn't exist prices didn't just keep rising. then when a couple got married they'd save up some money in the family would contribute a little and they pay for a new home in cash for. debt already fuels large parts of the chinese economy add to that massive household debt and you may well have a major problem a finance expert michael pettis says the situation resembles that of the united states in the run up to the financial crisis of two thousand and eight even if china's state owned banks can avert a full blown collapse a greater problem of too much that is when you don't have a crisis for example japan japan never had a debt crisis but i did speak japan was seventeen percent of the global economy roughly the same size as china today. today after two three decades without
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a crisis what with too much that the japanese share of the global economy has dropped to roughly seven percent. lead pay for one isn't particularly worried a few years ago she received a lump sum as compensation when a contract was dissolved prematurely parents said she should use it to pay down her moves now that might have meant going to a smaller flat we're not going to cafes like this any more going out for a drink with my friends. she chose to stick with a long term mortgage with low instalments at this rate leave bay won't have paid it off before she retires. tourism is booming in germany visitors come from all of the world and germans themselves are also spending more money on trips in their own country is a look at what's behind the positive trend. it was one of germany's hottest and driest summers and the latest tourism figures show that conditions were perfect for
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holidaymakers overnight stay figures for hotels reached a record high in july more than fifty six million overnight stays recorded that is the highest ever figure it represented a five percent rise year on year the number of stays by foreign tourists increased four percent to ten point seven million visitors the number of visitors from abroad has been increasing steadily in recent years germany now enjoys the best overall reputation of any country in the world according to the nation brands index but germans are also spending more money on trips in their own country record low unemployment and rising wages means that germans have more cash to spare so germany's booming tourism isn't just down to an unusually hot and dry summer they call to me has been a major factor. i have just enough time for this the c.e.o. of us media conglomerate c.b.s. leslie moonves is resigning following allegations of sexual misconduct allegations
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were made public in a recent article in which several women of houston the events of sexual misconduct and ruining their careers he has denied to be a geisha. has launched an investigation and said it will be donating twenty million dollars to organizations that support to the hash technique to movement and quantity in the right place. that's the business update here on t w thanks for keeping me company.
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then backstage. defun tell station fia. must make some germany's hip hop superstar on the fly if they some a gone commission. and how good his name freestyle the funniest comes to a. film for me alan. saunders shows things in a different light literally. and delicacy ensues of color.
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dissolving specced into endlessness. james to alice one of the greatest artists of our time his work is now on show in boston by the folks in sixty minutes on d w. as a friendship going on a polar expedition then don't miss this story for john j. should johnson takes you along on a thrilling and bone chilling funny. week you can discover the stories and let me. tell you stories on instagram. unbe to. do this work. is for to.
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feed. the children twenty. a low and a welcome to pov explore it's alice show bringing you the best dog a german music scene here's what's coming up.

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