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tv   Business - News  Deutsche Welle  December 1, 2018 10:15pm-10:31pm CET

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saying in argentina have managed to compromise and have agreed on a joint communiqué that despite tensions over trade and climate and the statement elitists around unresolved global trade tensions they've pledged to reform the world trade organization and the forty first president of the united states george herbert walker bush has died at the age of ninety four tributes have been coming in from the men who have since sat in the oval office bill clinton to replace bush's president in ninety two says will be for the grateful. thanks so much for watching . please.
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don't. shoot me. to do good. discovery. subscribe to. documentary. on thursday police began searching offices at deutsche bank prosecutors say staff at germany's largest financial institution might have hoped customers set up short companies to launder money. after a series of scandals in recent years the new accusation could hit the bank card.
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def adopt a gap see the suspicion arose in the summer and august of twenty eighteen after the federal criminal police office evaluated data from the panama papers and the so-called offshore lakes. and this evaluation led to this is special in that deutsche bank was helping clients set up so-called offshore companies in tax havens . and from their money is said to have flowed to deutsche bank without the bank reporting any suspicion of money laundering us bank. to tighten the allegations alone are enough to weaken an already embattled bank shares in deutsche acing to their lowest levels ever on friday but the bank was quick to present its view of events uganda and i love eleven we believed that we provided all relevant information to the authorities regarding the panama paper case of course will now cooperate closely with the public prosecutor's office in frankfurt it's also in our
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interest that the facts in question are quickly and entirely cleared up. attention will now turn to doj has boss questions even he's only been in a top job since april but he's been at the bank for decades and already faces the challenge of reversing years of losses now it'll be up to him to address accusations that hasn't only been mismanaged but involved in far shady or potentially criminal business. form a major by a is planning to cut around twelve thousand jobs over the next three years that's a tenth of its workforce according to the company the move will help it focus on its core activities but that's not the only reason for it. two months after the german company bought american crop science giant monsanto in june for a hefty sixty three billion dollars a us court ruling ordered by zero to pay multi-million dollar damages to
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a cancer sufferer. the judge said its newly acquired subsidiary should have warned users about the cancer risks from its roundup herbicide the company's shares have been under pressure sense then losing thirty six percent since the beginning of the year because of the monsanto takeover buyers' german crop science division will be among the hardest hit there are now many divisions that the company has two of. factories like this one in lordstown ohio were part of donald trump's plan to revive america's industrial base but now it and four other factories general motors plans to shutter won't be making anyone great again at the start of the week the american car maker announced a complete restructure the move will involve closing five factories in the u.s. and canada and cutting a total of fourteen thousand jobs the plans are part of
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a cost savings program and g.m. which has among other things seen price hikes in steel imports subject to new tariffs additionally the auto giant says it will end production of models with weaker sales and focus on more innovative areas like electro mobility and autonomy vehicles in the u.s. president was apparently angry about the announcement that jobs would be lost on twitter he threatened to slash federal subsidies including those aimed at developing electric drive alternatives the canadian prime minister echoed trumps sentiments. disappointed by g.m. is decision regarding their plan to actually work as part of the global restructuring our thoughts are with those those whose jobs would be affected and their families but most disappointed of all are g.m. staff that will be affected here twenty years i've been through closure in scarborough i've been through a closure in london i moved my family twice for this company and they do this to me just tell. the five g.m. plants will halt production next year laying off thirty three hundred production
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workers in the u.s. . and about three thousand in canada the company also plans to trim administrative staff by eight thousand. one hundred billion pounds annually for the next twelve years that's what bracks it will cost the british people at least that's according to a new study commissioned by proponents of a second referendum it predicts that both trade and direct investment in the country are set to nosedive the more neutral bank of england also predicted dramatic consequences if britain crashes out of the e.u. and the hard hit. by the end of twenty twenty three g.d.p. is more than ten percent lower in the disorderly scenario compared to that may twenty sixteen trend. the bank also said if the island nation has to leave the e.u. and a hard break said the pound could plummet twenty five percent against other major
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currencies even so it's still far from clear that theresa may will be able to push her agreement with the e.u. through a combative british parliament although she's doing all she can to give things a positive spin on what we see behind the analysis that we have published today and indeed the chancellor recognise this morning is that our deal is the best deal available for jobs and our economy that allows us to honor the referendum in an area and i see opportunities all right see. the analysis carried out by the government also shows britain's economy will suffer even if the deal goes through. so the big question is just how bad will the damage be shortly before the vote on december eleventh breaks it remains as contentious as ever. the highest court in bangladesh is kicking out a team of inspectors put in place to ensure safer working conditions in the
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country's textile sector the group was set up after one of the most deadly industrial accidents in history. over a thousand textile workers lost their lives when the run up plaza complex on the outskirts of dhaka collapsed in twenty thirteen labor unions called it a mass industrial homicide inspectors were brought in to oversee safety improvements in more than twenty three hundred of bangladesh's garment factories which supply clothes for big global brands like a generic and prime mark. many experts are worried that the bangladeshi government is taking over the monitoring duties they say it's far from prepared to do so in other news from the textile industry this week german clothes discounter kick is being sued in a german court by plaintiffs affected by a deadly fire at a pakistani subcontractor six years ago a decision in that case is slated to be announced at the beginning of january.
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the country hosting the g. twenty is experiencing a deep economic crisis and is dependent on outside help thousands of citizens have been protesting in the run up to the international summit which is taking place in a south american country for the first time but argentina's government hopes the g twenty will bring fresh economic impetus and new agreements like one on meat exports to the u.s. which was signed a few days before the agreement is with. it's an excellent opportunity to hold productive bilateral meetings with the various countries and sign agreements on what's happening. and it's also an opportunity for argentina to show that we are honest facilitator to approach positions in a complex global situation. but the g twenty will certainly not be able to solve the crisis for many small firms in
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argentina like industrious camera a woodturning company these machines haven't produced anything for years but it's not because they're broken there's just no one left to set them in motion industrious camel was founded over thirty years ago by a german couple in a suburb of pointers iris in good times they had twelve employees now there's just one. a three years ago the company had a downturn but even before that we felt the crisis for example a lot of our work is done in china these days. the services come from outside the country they can produce cheaper and have better conditions than we do here it's hard to compete we have tax burdens of all kinds on the currency the argentine peso it's devalued all the time. all the backs paid into the state retirement fund for decades their pension is still very low only eight thousand pesos apiece the family can barely make ends meet. a dozen former employees and
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their families are suffering from the shutdown of the company eduardo garcia lost his job after twenty eight years at the age of fifty five he's not likely to find a new job so like many of his country people he now makes ends meet as an uber driver. serum o.t.c. is a happy mother one of her newborn twins is out of danger after having complications during delivery. my babies were distressed at birth the incubator has indeed saved them because they're not as bad right now. krisna samba is the brain behind this lifesaving incubator that he named savant genius. the ugandan scientist is helping this public health facility and central uganda to
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manage emergencies among newborns. as of today we have managed to save two babies into the eyes of dave. so. there is. equipped with more than three hundred seventy sensors the incubator has over two hundred failsafe features that makes oxygen from the atmosphere regulates temperature and monitors the baby's brain. hospitals in uganda imported equipment mainly from the united states and europe but they have very limited budgets and can't meet the demand. procuring medical supplies from abroad has been a point of controversy with public officials often accused of fraud. the government here hopes that empowering a local innovator likeness could be
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a solution and that in the long term buying from home could help to bring the cost of medical equipment down. and that was the week in business. expressive and provocative african unites identity culture and state. and local gatherings. special ops twenty one.
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this week's highlights. show tranch a special treat from the chefs do. chili celebrations holiday on ice turns seventy five. chilly arch the ice sculpture first of. the romance in sixty minutes on g.w. . with him had a big gun goes on his way lions how you know if i had known that the boat would be that small i never would have gone on
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a trip to cuba i would not support myself and my harrison that danger to the bottom of the theme of the open a beautifully it would. love one to the other one the ability to give them i have serious problems on a personal level and i was unable to live their lives i'm going to. you want to know their story for migrants terrified to get reliable information for margaret's. welcome to a special edition of the arts twenty one. artists from africa are setting the agenda for a continent on the move this is important for africa to execute south africa through a lot of music going through a new generation of africans were more interested in the future this guy is.
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not getting i was only. the first leg of our african journey takes us by.

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