tv Business Deutsche Welle July 30, 2019 3:45pm-4:01pm CEST
3:45 pm
via the german chemicals concern warns thousands of new cancer lawsuits around the weight of its controversial we kill it. good for us all and let's do business the chairman of china's weiwei says business is robust as ever the sponsor giant has surprisingly posed a double digit sales growth in the 1st half of the year that's despite u.s. efforts to cut off from global supply chains but executives admit those sanctions will bring further challenges in the coming months. in the 1st half while way sold 118000000 smartphones of more than a quarter of the previous year analysts say the growth was mostly due to the strong domestic market always market share in china reached a record 38 per cent cause for confidence for the company's management. honestly huawei has been somewhat disturbed by the us negative list fodder but the order for an impact is definitely manageable that's ago when we heard and thought.
3:46 pm
well way is at the center of the year long u.s. china trade conflict donald trump placed the company on a blacklist in may which restricted access to u.s. technology and to the american market. while way did not reveal what impact this band had on its bottom line. clinton is following this story for us as we heard there while he was blacklisted until may so how telling are these figures well i think they're quite surprising given that we were expecting them to be a lot worse and the head of huawei the founder himself warned it could hit $25.00 make a $25000000000.00 hole in the figures i think it's yes we have we've had a few months before the before the blacklist came in and clearly they did very well but it's also signs that that consumers kind of rallied around particularly in the home market rise and they and they really started buying weiwei phones talking
3:47 pm
about the domestic market is while way winning because it's been managing to even market its own phones as the band phones on that black list and the phones that some consumers around the world can get their hands on yeah it's actually managed to overtake the 4 main competitors the domestic competitors as well who are doing very well before this they seem to have really pulled out the stops on the marketing front and also in terms of marketing the company's brand they've only they've taken the blacklisting and almost use it as a badge of honor in terms of dealing with markets where the u.s. might not be the most favored country and they seem to have played the game very very cleverly of course wild ways and just about making devices it's also got major 5 g. contracts around the world and and that's something the u.s. is trying to trying to put a stop to that's right i mean 2 thirds of all the of all the contracts are going to are for $500.00 lost in the period which is astonishing amount so
3:48 pm
clearly this is a big growth area for them and all the warnings that president trump was giving about the security risks and everything don't appear to about any of how much of an impact but what about further down the road because it sounds like it's going to be business as usual this trade war is going to continue and executives at weiwei do sound jittery here. do i mean i think the big problem for them has been. the fact that. we don't know what direction the trade war is going so until now they've been presented as a national champion the chinese market has been able to rally behind it but it does need the international business and we still do have these warnings ringing in our ears about how they could hit the bottom line and indeed the executives themselves today warned that it could if they could be in line for some just difficulties even though they say they're manageable but there's still difficulties and it wasn't always this way but it has become the one company at the center of this entire
3:49 pm
trade war yeah it's kind of become the symbol almost of the trade war and i mean it's not even that long ago since. joe the c.f.o. and daughter agendum fate was arrested in common. with a view to extradite her to the u.s. that's still to come we've got all these issues that are still don't resolved so even though it's put in a very positive performance i so there's there's a lot of things i'm standing that it needs to deal with a lot of unknowns and who knows where this could lead clipper couldn't thank you very much for coming. all of the flashy corporate results from weiwei come as top american and chinese trade officials made in shanghai trying to resolve their yearlong tariff conflicts but analysts don't see a quick fix u.s. president donald trump has taken to twitter warning china not to wait to do a trade deal he wrote my team is negotiating with them now but they always change the deal in the end to their benefit. after months of deadlock the u.s.
3:50 pm
delegation has arrived in china's financial capital shanghai trade representative robert litan eyes are on treasury secretary steven nugent are due to spend the next 2 days around a table with chinese vice premier trying to find a deal the 2 sides however are as far apart as ever the u.s. is pushing for an end to unfair practices as donald trump likes to describe china's economic policies these policies include billions of subsidies which keep chinese prices artificially low for its part china wants a deal where both sides make concessions. so far the u.s. has imposed customs duties on chinese goods valued at $250000000000.00 china has responded with tariffs on $110000000000.00 worth of goods and all $360000000000.00 worth of merchandise is affected by the trade dispute to avoid further escalation and chinese president xi jinping agreed to
3:51 pm
a form of cease fire at the osaka g 20 in june however heading into this round of talks there is little sign of agreement from either side. we spoke to china expert richard mcgregor and i asked him how likely it is that china will back down. i think they're settling in now for a long trade war they're not nearly as exposed to the us as the market as they once were they're not nearly as reliant on export exports as they once were now i think china is hurting it's chinese private companies which the exporters are hurting most china sort of premie our technology company our way is also under a lot of pressure but i don't think china thinks it will get much by giving away a way to the u.s. so they're really settling in for a long term battle turkish finance minister bet on by iraq says he expects shopper interest rate cuts from the central bank claim such moves will bring down inflation
3:52 pm
many investors worry about the independence of turkey's central bank finance minister is the son in the war of president richard ty a better one who's pushed for lower interest rates to jumpstart the economy alice say lowering interest rates to fight inflation makes little sense in turkish lira weaken slightly after about ox comments. by a has revealed it's now facing over 18000 legal cases in the u.s. over a hope a side that's alleged to cause cancer it was a risk the german chemicals firm took when buying its american rival monsanto which produces the weed killer now by says it's unlikely to achieve this year's profit goal. it's been the subject of protests around the world in recent years the heaviside life is eighty's causing by a major headache for thousands of people in the u.s. say the effect of the chemical for them has been even worse a wave of lawsuits has fallen on buyers since its $63000000000.00 takeover of
3:53 pm
monsanto the maker of weed killer round of which contains clive a site in the 1st handful of those cases to go to court juries found in favor of those who claim the chemical gave them cancer and awarded them huge compensation payouts despite riaa saying there's no scientific evidence linking life's a top with the disease just last week a 2000000000 dollar award to a californian company was reduced by more than 95 percent by a judge who set the jury had overstepped the mark but with further compensation awards in the millions likely buyer may have to brace itself financial figures published on tuesday show a 50 percent drop in profits for the 2nd quarter of this year fire is suffering as a result of trade conflicts and farm flooding in the u.s. even before that life's a palace again. let's bring in our toss funday our financial correspondent in frankfurt to talk about by a bracing itself now by is always argued that monsanto would be
3:54 pm
a good long term bet i should toss is it just going to be a case of riding out the storm. well ben in the ad he is by i would be hoping that this job passes by sooner rather than later $18400.00 legal cases potentially billions of dollars in penalties i mean this is insane crazy it's about time somebody from buying management comes out and says look we've made a mistake we underestimated the legal costs of buying $1.00 son to billions of dollars have all if you mean why dollars of. vibe out of this company and it is now valued at less than what it paid for monsanto that is $66000000000.00 ok that's going to hurt but let me bring you back to the long term effects you could could this takeover does it have the potential to actually destroy a buyer eventually. well i wouldn't go that far because
3:55 pm
believe it or not by a still has it owned up which is still the most popular killer in the world it is investing $5000000000.00 to come up with an alternative that the pharmaceutical business is doing. so i wouldn't say that it is going to destroy it but it is high time that it comes out and clarifies a strategy as far as dealing with these legal cases a concern that had been sold and hence there because it has hired a lawyer who is an expert at dealing settlements a negotiating settlements but have said that's a change in strategy but that also means that there will be so many other painters who will be coming on board to take in the more law expecting that eventually by is going to set a let's hope management is listening to our financial correspondent in frankfurt thank you. mo co-produced. by 70 percent of the past year german airline has published its financial results
3:56 pm
for the 3 months june made 226000000 euros the company says it saw or 4 percent rise in sales during the quarter and it continues to suffer as a result of rising fuel prices and the price for among european lines. and police in india the search for one of the country's richest men offices a there are growing concerns for the safety of v.j. sit down to find café coffee day he was last seen walking across a bridge and didn't return to the authorities became known as india's coffee king after establishing the chain which has built in 1700 outlets. no i said business with. its.
3:58 pm
because the beyond the 4. years it's a kind of culture war. a phenomenon led the birth family model legal kubes w a a a small klinsmann will be changing the people making it possible to go to africa. fantastic right. tried that as they set out to safe environments. good learn from one another. and work together for a church. be
3:59 pm
a south. africa w. stand for. language courses. video audio. anytime anywhere. frankfurt. international gateway to the best connection self road and rail. located in the heart of europe connected to the home world. experience outstanding shopping and dining offers triallists services. biala gassed at frankfurt airport city managed by for bought.
4:00 pm
this is g.w. news live from berlin the us asks europe to help protect shipping in the gulf washington makes a formal request to germany france and britain to provide security for lynn says that it international a. is solving to solving the crisis is essential. also coming up remembering the boy who died when he was pushed under a train in frankfurt in germany authorities say that the man suspected of crime
28 Views
Uploaded by TV Archive on
![](http://athena.archive.org/0.gif?kind=track_js&track_js_case=control&cache_bust=1720510928)