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tv   Business  Deutsche Welle  April 30, 2019 10:30am-10:46am CEST

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it through a land full of contradictions joy and sadness confidence and doubt. our documentary depicts the contrasts of everyday life and help people cope with that iran bittersweet starts many seconds on g.w. . above them. donald trump sooths germany's biggest lender the u.s. president not to hand over his business records after political rivals in congress to months them. also on the show european plane maker abba suffers a huge slide important profits blaming the council ation often superjumbo and germany suspension off defense export licenses to saudi arabia. and to boeing nice questions. at its first shareholder meeting since its top selling jet
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is involved in to say to crush us. a welcome to g.w. business i want to get in berlin good to have you with us u.s. president donald trump is suing deutsche bank to stop it from handing over financial records about the bank's dealings with a new york real estate mogul congressional oversight committee subpoenaed to the documents in march two years the german lender has been traumas mane and sometimes only creditor financing many office construction projects democrats in congress say they want to investigate possible financial ties between trump and russia and gain general knowledge of the president's finances trump has for years boasted about his financial action buts he's been secretive about details breaking with a longstanding tradition of presidents making their tax filings public. for more let's bring in a off a national correspondent in frankfurt. the president of the united states suing
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germany's biggest lender oh is that going down with investors. well the reaction here has been fairly muted at this point of time the dirty bomb shares are down one percent as we speak. on its behalf and said that it will still be it is still committed to providing those documents according as per required by the investigation but it will also abide by the codes ruling no president has said that this was the document handing of the document would be harris mentor to him and it would actually be used against him to politically damage him so that's his argument but his drivers his opponents believe that this actually his case is is meritless and would not succeed in the court not georgia bank of course has been making headlines for all the wrong reasons lately is this also just yet another blow to the lender's reputation. well i feel that most of the bad
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news has been already factored in the share prices of the bank of the bank is valued just a quarter of its book value that's really long if you compare it with other rivals of church of banks now having said that this is going to be a major irritant for the bank as it actually tries to get desperately gets its act together and that's. it's also going to be a blow to its reputation as you mentioned but because they are good questions are going to be yasir as to how a german lender bankrolling a bank or a businesswoman out of bankruptcy is even at a time when the u.s. banks would not touch it and also the fact that was there any money laundering involved in it and there are many who believe that it was if it wouldn't have been for the loans given by virtue of bank president trump wouldn't have been president today all right a lot of uncomfortable questions raised there on the reporting from frankfurt thank you. some corporate news now and investors had been warned
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and now some sun just released first quarter earnings that show profits slipped sixty percent year on year to five point three billion dollars the south korean tech company says the decline in profits is you due to poor sales and its low end midrange smartphone models along with falling demand for memory chips and to displace something is the world's biggest maker of memory chips and smartphones. i googled parent company alphabet published disappointing figures after trading hours its first quarter revenue came in below market expectations dropping more than thirty percent on the year the tech conglomerates failed to benefit from the positive u.s. economy amid pressure from record e.u. finds that's left some investors concerned alphabets google and you tube face many challenges the company's privacy practices are under increasing scrutiny. triggering more efforts to restrict advertising that appears with potentially
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offensive content. now then outside boeing's annual meeting protest start calling for the american plane maker to face prosecution over the two fatal crashes involving its seven three seven max model inside shareholders demanded to know whether boeing did enough to ensure the safety of the planes its fastest selling jets now grounded all over the world since then boeing's first quarter profit slate's twenty percent and its share price by ten. is the first shareholder meeting since two fatal crashes involving boeing seven three seven max and folded into one of the biggest crises to hit the american plane maker we have boeing or sorry for the loss of life in these tragedies and they continue to weigh heavily on us we recognize the devastation to the families and friends of the passengers and crew members and extend our deepest sympathies to all of them please join me in a moment of silence at this time to honor the three hundred forty six people who
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were on board those two flights take but there was tough questioning from shareholders some wanted to know if the seventy seven months production was rushed here and whether that led to forty feel safe mechanisms a common link in the chain of events leading to both prussians was that bad sensor data or triggered an anti still system designed to force the plane's nose downward we know we can break this link in the chain it's our responsibility to eliminate this risk he said that boeing was making steady progress towards a software update that would keep such accidents from happening again regulators could be about to find out if his right they are set to test the software next week . financial clouds over profit for the european airplane builder fail eighty six percent in the first quarter of the year to only forty million dollars now
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that's due to a number of factors including the ending of the a three eighty super jumbo program after years of losses the german government's suspension off defense exports to saudi arabia resulted in a one hundred ninety million euro loss but the company stands by its outlook for the year counting on strong sales of planes including its record selling a three twenty meal model. and my colleague rob what's joins me in the studio now for more so rob i mean first of all eighty six percent drop in profits that sounds pretty dramatic but then again seeing that the main competitor boeing is currently also struggling with problems of its own about is it well i guess it does sound dramatic but i don't think they'll be too worried to have us i mean you just mentioned the two big swan off charges that they've had they're canceling of the a three eighty program they reckon that's costing about sixty million euros name as your segment of the one hundred ninety million euro hit from
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the cancellation of their contracts for arms exports to saudi arabia means that we do have these very frightening looking figures for them but actually if we adjust for those one off payments and we look at. income getting rid of taxes and interest sensitive much more positive figure. we've got five hundred forty nine million euros the quarterly figure which is much more positive looking when you compare it with the comparatively meager fourteen million that they made this time last year another reason that airbus has got to celebrate today as well is that they are on course this year to be the biggest producer of large passenger jets in the world for the first time since twenty eleven is the first time they're going to get their nose in front of boeing we know the reason for that of course is. you know that the grounding of all these a three seven three seven. those two crashes yes i was so we'll be celebrating too wildly. but that does mean that where boeing
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were previously planning to produce somewhere between eight hundred ninety five and one hundred five planes this year then i'm not going to be there suspend about forecast where is expecting to produce between eight hundred eighty and eight hundred ninety so looks like that's going to be so we started there with an eighty six percent drop and now you brought up all the positives so maybe it's a good time for the new c.e.o. of ebbers for the two to step in what's on his to do list there well it will be a good start for him why his main job really is to oversee the ramping up of production at airbus over the coming days he's a former automotive executive and he says that he's going to bring a car making procedures to the table they're going to be using his expertise to help them produce jets that big fast so the main competitor from. us for the seventy seven max is a three twenty neo they're hoping to reduce sixty of those every month this year
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and they want to ramp that up by twenty twenty one to sixty three and they have to stop and and they probably have bias for the a three twenty neo as well mean german flag carrier loved ones as far as i know has some of those but sadly they also posted quite disappointing figures in the first quarter what's bothering them or this is the latest in a string of negative results for airlines they seem to be struggling the world over and look times isn't immune to the problems that have been had by many lines around the world for example we've got this issue with rising fuel costs that is driven several. airlines into the ground over recent months the times are also has a problem with your wide price war that's causing all sorts of problems those tickets going down and down and down and down but also they've got a problem with overcapacity and just not getting enough people on their planes drop what's there from g.w. business thank you so much for filling us in on all that. now than just
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a few months ago amazon workers rallied behind the hash tag we are not robots campaign against what they say are a reasonable working conditions since then they've learned there is strength in numbers amazon labor representatives from fifteen countries met in berlin on monday to go ordinated their strategy against one of the world's most powerful companies more than fifty trade union representatives from all over the world have gathered in the german capital for a two day meeting. they're comparing notes on the working conditions in amazon's logistics centers around the globe. south america is a new market for amazon and workers there want to learn from others with more experience and gaining better conditions. it's very important for my get you know everybody here in europe absolutely but it's also more important for their workers in south america because this is like an unknown territory for us and the sun is just getting into latin america. employs complain of low salaries and they are
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demanding collective bargaining agreements or at least a more formal dialogue with management they hope their cross border solidarity will make amazon more open to negotiations. well for one thing we've learned that we're not alone we've learned that we're facing some of the same challenges everywhere in the world we have fifteen countries in the room today and we all have the same experience as amazon expands its operations to more and more countries union leaders are now taking steps to help workers everywhere speak with one voice. and that is your business update. thanks for watching.
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my first boss like most sewing machine. where i come from women are bones by this social event or something as simple as learning how to write a by side of these and. since i was a little girl i wanted to have both eyes that the law is my home and it took me years to them despite their. finally they gave up and went on buying young guys like those but returned because sewing machine sewing i suppose was more apt procreates forgoes than writing advice as now i want to reach out to those women
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back home who are bones by their duties and social norms and inform them of oded b.c. writes my name is the about of people who and i work at visa. welcome to news from the world of arts and culture i'm karen helm said and here's what's coming up in this edition. a new film about a tragic family killing revisits a real life drama that took place on the streets of berlin fourteen years ago. we look at the explosive charge of norway's young son who is making a name for himself with destructive performances done especially for social media.
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and in our series one hundred german must reads we plunge into. oppressive tale of seemingly random injustice and impenetrable authority the trial. in two thousand and five germany was shocked by the murder of twenty three year old . a young turkish kurdish woman who had dared to leave a forced marriage and defy her strict muslim family while she was shot point blank in on the street by her youngest brother a so-called on or killing german director sherry harman's new film a regular woman tells the story a new and gives the victim back her voice. and . and a regular woman is a true story.

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