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tv   Business  Deutsche Welle  September 4, 2019 8:30am-8:46am CEST

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dangerous. floods and droughts climate change become the main driver of mass migration you could write any apocalyptic scenarios you want and probably most of the. climate exodus starts september 5th on g.w. . and off is enough following recent mass shootings in the united states the country's biggest retail chain wal-mart says it will stop selling handguns and certain kinds of ammunition. also coming up it's quite possibly the most complicated tax fraud case in german history today to the investment bankers on trial. and it's fast plane but not a swedish startup present it's on the pilot's calm like you'll want to.
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come to your business i want to get jones and berlin good to have you with us and as the political fall go around to bricks it thickens in london the impact of the uncertainty on business continues to be felt not just in britain germany's export led economy is feeling the pinch in the 2nd quarter 29000 german exports dropped by a whopping 21 percent compared with the previous quarter that is the biggest quarter on quarter drop since the financial crisis a decade ago germany's britain's largest source of imports accounting for around 15 percent. but having said that the biggest economic impact by far would be felt in britain a new study by the united nations found some alarming figures. after another dramatic night in westminster on wednesday the protests over break that will likely continue in london for weeks and months to come some want the u.k. to leave the e.u.
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without a deal some don't want brags of to happen at all. but most economic analyses on the subject point to the chaos that are no deal breakers that would bring in a new study the un conference on trade and development has warned of the consequences. in case of for no deal. exports of the u.k. will be mainly affected in with regards to the european union we are estimated this is a conservative estimate that the exports to the e.u. will drop by 7 percent since around $16000000000.00. it's not only trade with the e.u. that will be hit when it leaves the e.u. the u.k. will no longer benefit from several existing e.u. trade agreements such as those with canada japan and mexico which will affect many sectors. i think there are
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a couple of sectors where automobile sectors is one of them are food products beef for example would be also affected. as well but more obvious will be one of the most affected sectors. in case of far. as said the u.k. is car industry is a serious risk the industry so-called just in time production system is dependent on various carrots moving across borders with a minimum of fuss and no deal brags it could take a wrecking ball to the system risking thousands of jobs. yet as the current d.-day of october 31st looms ever closer no one can say for certain what will happen at the u.k.'s borders in a week's time. the world's biggest retailer wal not says it will stop selling some types of ammunition including any bullets that can be used in assault weapons on time guns the move follows a string of mass shootings including at one of its stores in texas that left 22 did
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. wal-mart has been under pressure to change its policy on gun sales it has already stopped selling assault rifles and raise the minimum age to buy guns to $21.00. that's a huge step in the right direction there's just way too many shootings i have 2 boys sound richard in there you know there that that's crazy to me that so many people can get hurt. you can't go anywhere these days and. the company is trying to balance the interests of it's gone owning customers and growing safety concerns among it's clear intel wal-mart will now focus on weapons for hunting it will continue to sell long barrel hunting rifles and shotguns and related ammunition the national rifle association has called wal-mart's new gun policy shameful and said it would hit sales. right now wal-mart has around one 5th of market share of
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ammunition sales. wal-mart's chief doug mcmillan says changes to ammunition policies will reduce its market share to between 6 percent and 9 percent . and wal-mart will request the customers no longer openly carry guns into its 4700 us stores even in states where open carry is legal the retailer took action following the death of 22 people in a mass shooting in a wal-mart store in el paso texas as well as deadly shootings in ohio and in midland and odessa texas. today germany's most controversial tax case is going on trial it involves 2 british investment bankers who are accused both as defendants as well as the main witnesses in the case which centers around so-called complex trading schemes and educate defrauding the country of around $440000000.00 euros in tax money the coolmax trades are equity deals
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investors rely on the sale of borrow chairs right before a given firm is slated to pay dividends and that scheme resulted in double tax reclaims for share trade us over the years it became big business some even call it europe's biggest tax fraud scheme of the total loss for europe could to be around $55000000000.00 euros according to the journalistic research network correct if with germany losing an estimated 32000000000 euro zone today's trial could just be the beginning of a very long court case around 200 people are also being investigated according to media reports so for more let's bring in our financial correspondent who's standing by for us in frankfurt and there he is only 1st of all could you clarify for us are we talking about a crime here are combe x. trading schemes legal or illegal. well the prosecutors seem to think so and it's up to the court to decide that when i look at what these people did and what other
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people did and other cases that have yet to come to trial it certainly looks like it was illegal at least they should have known that they were doing something wrong and that they were cheating the state but it's up to the court to prove this and indeed there was a loophole in the law that made it seem as if they could get away with claiming that well we saw this loophole this was the law this is what we did it was ok it's probably going to take a very long time to try this to put this trial through it's terminated to january but it could go on longer and it could have go on to the highest courts in the land even up to the constitutional court if need be and right now we have to investment bankers there on trial but many more are involved do we know anything more about the others. yes in other cases for example there are also investors involved who played along who bought into investment vehicles and were also prosecutors claim
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they should have known about that their lawyers involved and the prosecutors in cologne who are prosecuting this also believe that the doj rebels with its settlement unit clear stream also was involved in some way there have been 2 searches the last one just last week in this particular case there are 5 names 2 from the private bank warburg a very respected old money type of brain can hamburg a bank of new york mellon societe generale with mutual investment fund units and also hamburg capital management company and the interesting thing of course is also that that that comics trading scheme took place between 20112000 or 2006 in 2011 now it's 29 t. what took authorities so long. well i think one of the reasons is because the perpetrators were so clever there. it's ambiguity in the law and the financial supervisory authority has a kind of a mandate and
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a kind of staffing that not did not really making a big help in this case and also the prosecutors there woefully understaffed that's been changed a little bit in the past but the indictment reads 600 pages in this case alone that's will be a condensation of millions of bits of data and i do believe it's the reporting for us from the fact that stock exchange on the x. trial starting today in germany thank you so much. and it could be the start of a new era of driving i'm not talking about electric cars a dutch startup recently unveiled a prototype of what they say is the 1st couple of taking os long distances powered only by the sun with a price tag of 140000 euros the light one is not exactly a bargain but it saves you tons of money at the pump. the netherlands is banking on the sun for its energy needs cycle tracks and roads are already equipped with solar panels the latest development is mounting solar panels on cars start
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a light year is launching an attack on no less a giant than us electric car maker tesla and like its american role model the company made its cars launch a media spectacular with not a trace of modesty a car to save the planet no less. what began with a bunch of students has transformed speedily into a company with over 100 employees and they're driven by more than merely making money. to motivate the by the gods that we're that we're there's striving for and that's in the end through make electric cars more scalable and therefore pick one the entire world so they do it partly of course through to pay for their families and that's all everybody needs to do that but the extra motivation i think comes from working at a project that has this huge impact we were allowed to film work on the prototype in light years workshop that's not a given in view of the cutthroat global competition especially from asia this is
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a car fueled primarily by solar power and really has to be plugged in for recharge far more eco friendly than current generation electric and hybrid automobiles. one is expected to get from amsterdam to berlin without a reach at least on sunny days. development costs of reach 60000000 euro those with funding coming from a variety of source. their investments is partly formed from private individuals so investors basically is partly from from subsidies from the states from the european union and partly from our customers that already put a car that they will receive in the future and they already bade us because they're very a very excited to be one of the 1st to. receive the car reserving one will set you back 119000 euros with a final price tag of 140008 can be suck it charged but in daytime solar panels
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provide the juice to keep it rolling while others drop to a halt that's a big reason why people don't buy an electric car yet and if you give them. an alternative card i would work in a place where the infrastructure is not so not so widespread i think that's that's a very good way to do interviews those people as well to electric cars and make it feasible for them it still has to show it can survive normal road conditions and can be mass produced but will like one save the planet well it could perhaps lead to the demise of quite a few petrol pumps. and that's your business update on. i'm
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scared that the war that hard and in the end is a me your not a lot of the year and more we will send you that. are you familiar with this. with the smugglers were liars. what's your story. ready and what numbers and women especially of victims of violence. take part and send us
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your story we are trying in all with to understand this new culture. another villa turn other guests you want to become a citizen. in for migrants your platform for a while information. hello and welcome to news from the world of ops and culture and today it's books all the way starting with a look at the star studded nominations for this year's booker prize also coming up . a brand new you tube channel for all you book. called d w books. and disturbing revelations in a book called promise me you'll shoot yourself that suicides of ordinary germans
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and the end of the 6. bucks we begin with the nominations for the prestigious booker prize one of the most important prizes in literary well this year names like salman rushdie a margaret atwood on the list and i'm joined by man of letters david leavitt's to take us through this and an impressive list statement it isn't actually in some ways but listed self is more exciting than even the winner because a lot of people they've got now they're reading list for the next year until the next list comes out these are the 6 novels that they're going to be reading this year and of course the most anticipated novel of the year the testaments by margaret atwood the queen of dystopian fiction you guess she is and this book is not even out yet and it's already on the list people have been waiting for this book for 34 years this is the sequel to her mask.

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