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tv   Business - News  Deutsche Welle  October 23, 2018 7:15pm-7:31pm CEST

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donnchadh in the north of the country one of them is female a highly unusual find and researchers believe they mark the greaves of important people in the city once the biggest in south america. all right you're watching the every news we still have a lot more to tell you about including in an unprecedented move the e.u. commission rejects italy's budget due to the country's rising debts we'll have a look at what happens next between brussels and rome coming up in business with ben fizzling and also you're going to the top of the hour. time for an upgrade. our furniture that grows all by. house with no roof. or design highlights you can make yourself. against tips and tricks that will turn your home to
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a special. upgrade yourself with d w's interior design channel on you tube. every journey begins with the first step and every language with the first word published in the cook. recoat is in germany to learn german why not learn with him it's a simple online on your mobile and free shop d w z e learning course nico speak german made easy. after. a showdown between brussels and rome italian populist say they're not backing down on plans to triple spending e.u. projects its budget plan in a euro zone first. and us judge upholds a verdict finding by as one sound so liable for failing to warn its weight killer can cause cancer. and more foreign investors flee pulling out of
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a key investment summit in saudi arabia turkey calls the death of a dissident saudi journalist a political murder. and been physical in let's do business the showdown has begun the european commission has rejected italy's twenty nine thousand budget for breaching e.u. budget rules it's the first time the european commission has taken such a drastic step having avoided sanctioning both france and germany in the past when they breached the rules the decision means that under the excess deficit procedure rome will be given another three weeks to break consider and revise its spending plans out of the two trillion euros italy's national debt is the highest in the e.u. as one hundred thirty percent of gross domestic product and there are fears any increase could unleash another euro crisis for its part italy says it's willing to talk but it says the economy needs a boost so it's sticking to its plans to triple public spending next year rome insists its budget means debt will begin falling by twenty twenty one. italy's
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leaders may be somewhat surprised at the use hardline but now prime minister becomes he and his two deputies have three weeks to reconsider their budget plans for next year it's a decisive moment for one of europe's largest economies and the populist government's next moves could resonate globally italy has also become a polarized country and not everyone backs the government. but italy is part of europe so it has to follow certain rules rules that have saved us up till now. i think we need to carry on like that there right. yeah it's clear that the government are going to take this situation forward we need to be sure we're strong enough to keep up this stance. thing required to have a budget approved is clearly quite tough but to be held to task over your choices when you are a member of a union of countries is understandable cicle principal. deputy prime minister.
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doesn't think so during a visit to romania he said there's no going back on the budget ramping up the rhetoric he cues the e.u. of attacking not a government but an entire nation. allowing the action for us and stress but max this has never happened before. that's absolutely correct and what is the early stage in which the commission is stopping this they're rejecting a draft budget so that's what has never happened before but see the commissioner in charge said they really didn't have any other choice they asked him only to clarify some points and they did didn't get any answers on that in the letter that italy sent back on monday very defiantly and so he said this is not a borderline case but this is a clear breach of commitment and that's why they had to take that decision so it only has three weeks to straighten things out now the commission has been flexible
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in the past so how to find can the italians actually be. it's hard to predict with this government we've never had a populist government of this nature in a big country in the euro zone so predictions like i said are very hard and what's coming out of rome or in this case out of bucharest from the head of the right wing populist league on north isn't very encouraging he made it very clear they're not going to change a thing of course he's not the finance minister and then you have a thing called the spread now the spread bear with me a little complicated is the difference between what italy has to pay for its debt and what germany has to pay for its debt obviously german debt can be acquired much cheaper or the germans have to pay less to to borrow money and the times have to pay much more because there's a greater risk involved so the higher the spread the more the italians have to pay and it's no surprise that with this new government the spread has gone up
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continuously and experts expect this to continue now even more that they have rejected what the e.u. commission is proposing and so it's something that the rising spread the rising cost for italy to refinance its debt might make them think twice in the next weeks i bet the germans always pay their debts but the italian debt is getting so big that alarm bells are ringing is this the next euro crisis. well a man who knows a thing or two about that was quick to say that no this is not what we have here is not we won't have contagion as with the greek crisis it's not comparable and that man is close keighley who is the head of the european stability mechanism so that mechanism that's in charge of if the worst comes to worst saving a country or saving an institution he said not comparable everybody calm down of course that's his job because if the markets start going haywire this actually
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might be a huge problem everybody here in strasbourg says if there is a problem if there is one case that has really the capacity to become a euro crisis then it's only because of its one hundred thirty one percent national debt of g.d.p. which is second highest in the eurozone just after greece because of the state that its banks are in max with all the figures all the facts and that show down in stress but thank you very much a big drop in buy a stock dragged down frankfurt shares today a judge up holding a verdict finding its new acquisition liable for not warning the school grounds keeper that its weak killer could cause cancer but the u.s. judge did cut the damages bill from about two hundred ninety to seventy eight million dollars and center says it's pleased with the reduction will still appeal the verdict saying there is no scientific proof linking its best selling have a side round up to cancer. office and puts is following this story for us from
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frank at two hundred ninety million dollars damages to seventy eight million why such a big fold in the stock then. investors are letting the shares will it's because they're focusing on an entirely different different issue and they're not focusing on this cut they're focusing on the fact that the judge and the jury have made a link between the product round up and cancer and that could be devastating for a buyer because there are lots of other cases like this there are about eight thousand in the u.s. and this verdict is going to encourage them to go against a buyer and try to get their their share of the money because then what about the merger itself of these two mammoth companies managing to grow together or we are talking about more weeds than we thought. it's always difficult to
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grow to moments like this together especially across the atlantic we've seen that with the chrysler that fell apart because the corporate culture didn't work together and with a company might like something might be especially hard because it's a toxic brand remember just a couple months ago people in europe were on the streets protesting the corporation on top of that it's it's been a very very. very very. sorry expensive deal and the question was already is it going to be profitable now possibly billions in fines through lawsuits dangerous a lot of money being thrown around because they have but it's for us of the frank good stock exchange. global stocks islam big geopolitical risks rising including tensions between the middle east and the rest of the world over the death of a saudi journalist was it a political borders the turkish president claims corporate bigwigs seem convinced
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as they pull out of a conference in riyadh today but that doesn't mean deals won't be done behind the scenes. kitty dimitri a c.e.o. off there i should direct investment one idea. the organizers had launched a charm offensive to ensure the conference meant super billing with a high profile roll call of business names to to attend but the reality on the ground as the conference opens is a sobering one. among those giving the event a miss on the u.s. treasury secretary the head of the i.m.f. and the c.e.o. of industrial conglomerate siemens joke asia he cancelled only at the last minute prompting further criticism back home in germany. men saying the business of business is doing business business has. a responsibility is this leaders also moral leaders in our well. ford
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j.p. morgan and i have likewise dropped out of the event the organizers have refused to reveal just how many guests will be absent and have taken down a list of plan speakers posted earlier on line. the three day meeting dubbed davos in the desert is still expected to see the signing of major billion dollar deals saudi arabia wants to become less dependent on oil revenues by don't first find its economy needs launched an investment for a range of new infrastructure projects the promise of job creation is another factor one in three people under thirty in the kingdom are currently unemployed investors had seen the young crown prince mohammed bin salman as a positive influence for the future after he lifted the ban on cinema and permitted women to drive cars. but after the international outcry over the death of dissident journalist jamal khashoggi in the saudi consulate in istanbul many companies are
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putting distance between themselves and the regime. and talking about distance officials have opened the world's longest sea bridge chinese president xi jinping inaugurating the fifty five kilometers of cement which today a cow with hong kong and the chinese mainland it cuts a fully four hour journey to just thirty minutes construction took nearly a decade and cost twenty billion dollars critics say the project which has been dogged by safety issues and delays will never recoup its construction costs the bridge is set to open to regular traffic on wednesday. business with a. woman
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. cutlery. global becoming a city of a nice nation it's a mecca a numbers of people living in cities across soaring and the challenges are growing so how do you plan to make a long list. future transportation concepts mean life is affordable living
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space for everyone on a table. for example. sleep . carefully. don't suit me. to be a good. match. and discover how much. illegibly. subscribe to a documentary on you tube. indeed the new magazine
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on w. . graphic books hijack innovation. big ecological challenges legs india a country that's always changing. with the people working to create a sustainable future lead inventive projects from europe to the coating india starts october twenty seventh kong t.w. place. i. love. love welcome to global three thousand today we're going to take a look at life in cities been sent his of blooming particularly those in asia and africa. the world's population now lives in cities a figure that's focused
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a bit too says by twenty fifty and already there's a serious lack of decent affordable living.

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