tv Business Deutsche Welle September 30, 2019 4:45pm-5:01pm CEST
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says oil prices could spike to unimaginably high levels if the world doesn't come together to deter iran they've been attacks on the saudi oil sector the world's largest crude exporter sharply reducing production still haven't been so and says he prefers a political solution to a military one that's helping ease oil prices today but not the saudis worries fitch has downgraded their credit rating citing the rising tensions. saudi arabia's message is clear an armed conflict with iran would have catastrophic implications for the global economy and send markets reeling it's a stark warning and one riyadh hopes will prevent military action by its long time rival a spate of attacks on saudi oil facilities allegedly orchestrated by iran earlier this month led to a huge spike in crude oil prices as saudi output sputtered in a rare interview with u.s. broadcaster c.b.s. the saudi crown prince issued a stern call to action. and that if the world does not take a strong and firm action to deter iran we will see further escalations that will
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threaten world interests oil supplies will be disrupted and oil prices will jump to unimaginably high numbers that we haven't seen in our lifetimes. saudi arabia is urging the u.s. to continue talks with the wrong with the hopes of reducing some of the political strain on the strait of hormuz the world's most vital shipping route for oil almost a 5th of the planet's crude passes through it making riyadh's warning all the more urgent. singapore is asia's undisputed oil hub let's go over to our correspondent there andrea hank and just how high are other political risks considering that the oil prices going down today. when fest is. about what's going on in the world today particularly with the u.s. china trade tensions ahead of the washington talks that we're going to be seeing in the next couple of weeks or so and that oil prices to drop some one percent today
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now this is all top of the fact that china's economy is still looking very weak even though it was a relatively positive factory activity numbers today now with all this instability is sending a lot of ripples across asia and asia is very dependent on saudi oil some 70 percent of all more of its oil supply comes from the kingdom and any disruption to supply or even the threat to global prices is going to lead asia on shaky ground in fact it already is now weathering any kind of disruption is going to be short lived as well especially if prince mohamed riyadh wanting becomes a reality and just briefly at the same time fitch downgrading the saudi's credit rating. this is a lot to do with the you know the geopolitical tensions and possibly military tensions rising in the gulf obviously between saudi arabia and iran now the saudi
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finance ministry has already asked fitch to reconsider its position and insists that the drone attacks have not impacted it's state funds it has not it has not impacted its growth and also cause you know investors are rather singing a different tune saying that this could have a long term effect especially since the saudi kingdom is trying to read diversify its economy and attract foreign capital trading in singapore. well financial markets are more worried about what andrea was talking about there the relations between the u.s. and china reports the administration is considering delisting chinese companies from u.s. exchanges it would be a radical new tactic in winning the trade war with beijing. the us treasury has denied reports it is planning to block chinese companies from listing their stock on u.s. exchanges despite the denial asian markets went down on monday investors still fear that washington will restrict u.s.
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capital flows to china beijing had a warning for the u.s. . exerting maximum pressure and even seeking the force to coupling of china u.s. relations will harm the interests of chinese and american companies and people it will create turmoil in financial markets and then danger global trade and economic growth. would you feel with. beijing said it hoped washington would work to resolve their differences and deepen economic ties some market observers brushed off the rumors saying the news amounted to nothing more than posturing ahead of talks between beijing and washington next week. fox is in court in germany's very 1st class action lawsuit a civil compensation claims relate to the diesel scandal the court will have to consider if vehicle owners suffered damage from the emissions cheating software itself all from subsequent bads imposed on driving all the diesels. this could be
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a watershed moment for germany's legal system 4 years after the emission scandal broke hundreds of thousands of diesel drivers now have the chance to hold the carmaker to account. it's the 1st ever class action lawsuit to take place in the country similar auctions in the united states have seen consumers come away with billions of dollars in compensation. for the good of analysis was far more confident about winning them and that the arguments speak for themselves 1st the leaders knew about things from the start and the w. hasn't put forward anything for the stunt that can contradict justice. correspondent lawyers maintain that the carmaker has removed the emissions cheating devices and argue that diesel owners cannot claim for compensation while continuing to drive the offending vehicles in the heart of damage to this day hundreds of
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thousands of vehicles are still in use by customers for us this means that there's no damage and therefore no reason for compensation these days hearing comes just a week after german prosecutors charge 3 v.w. executives including current boss happy with market manipulation accusing them of failing to inform shareholders about the financial impact of the emissions scandal . further indication that the costs of germany's biggest post-war industrial scandal are still being counted. could 470000. well the book 2nd customers are asking for full refunds on on the purchase price of their vehicles whether that's going to happen this is a big question and part because this is really the 1st time german courts have had
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to address an issue like this so in court today the judge was saying you know you need to prove that that customers lost something and folks are going to saying that customers to them because they were still able to try have their cars so there's a lot of uncertainty over how how the plaintiffs can prove that and whether it's point b. a possible if you do look at some of the other cases that folks like and have settled and in the u.s. it's been much higher but it's a very different legal system there so it's going to be a big question going forward here before this story closely thank you chelsea. well despite all the bad press for v.w. the label made in germany is strong as ever it continues to enjoy the top spot weld wide a cambridge university poll shows haas respondents positively view products manufactured in germany only 6 percent a negative china on the other hand still has a major reputation problem the survey on the quality of consumer goods from a dozen countries puts made in china last in the rankings nearly half of all
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respondents reaching a negative verdict on the quality of chinese goods just 15 percent have a favorable view other asian nations fed better own 2 high profile consumer brands like nikon or nico rather with sony japan is in 5th place south korea 9th place with popular brands like l.g. and samsung will german companies tend to be very wary of investing in africa citing a range of hurdles from corruption to infrastructure but one should be an family owned business has found success in uganda cultivating flowers on the shores of lake victoria the company has built a thriving business which is now exploding all over the world. it may be a sea of green now but after a few. months just in time for christmas these stems will be topped with rich red flowers jovian and sukkot works at this farm in uganda preparing cuttings for the long journey to europe she's happy the job is providing her with
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a steady income. i want to pay school fees. and then behrendt. this is the work of a guy flower farm a huge area sitting directly on lake victoria here german companies select one is producing plants for export and they're not the only international player here east africa is valued by many as a location for flower production salaries are lower here in the climate is ideal but flower production in africa does have its problems there are accusations that too much pesticide is often used for production manager wilson kater says that's not the case we are the production managers in the field we are trained very much to use as many as possible chemicals and. with the chemicals that we that we we have. kind of chemicals that we are using in this in this company are all there come the chemicals that are been listed and has been approved by the european union
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. from uganda to stuttgart the headquarters of selective one the twin brothers nielsen pair clem are the 3rd generation to run the family business in stuttgart the seedlings from uganda planted in the soil to take root the claims are often asked whether we wouldn't be more environmentally friendly to just do all the cultivating here. because you don't have to artificially heat in africa and basically you have an incredibly high growth per area it's actually the case that production there has an ecologically lower c o 2 footprint than if the cuttings were produced here. with wife with a poke in the list etc stickling i saw him and he. stood guard headquarters is mainly used for developing and planning next year and new offices being opened in ethiopia according to the entrepreneurs the cost pressure in the industry is enormous making the lower wages in east africa
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a major boom or stuff. we produce in east africa because the unit costs and the wages we pay for them fit well together and we also have enough manpower available it's the only way we can still be successful in the market and it's the only way we can sell our products at all i think that's going to put a marker walked up that something. with sales increasing even in china they claim tweens are proud of a company that's gone from humble beginnings to one that's growing around the world that's doing business with it.
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the small scale inspire the changes in the people making it possible he told africa. fantastic right. as they set out to safety environment. and learn from one another. and work together for the church. comfort. w. . belonging to an official estimates more than 1200000 venezuelans live in colombia legally and illegally. the album was returned to. to visit friends i don't think i'd ever go back there to live you know what i live there again i don't know so i'm not sure. bearing witness global news that matters . made from minds.
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this is the daily news live from turkey accused of returning refugees to syria against their will t.w. meets the syrians desperate to find her deported son also on the program china begins celebrations marking the 70th anniversary of communist role for the france risks being overshadowed by underestimate all called as pro-democracy activists gear up for multiple rallies. and on trial hundreds of thousands of german diesel drivers take the car maker to courts demanding compensation over the company's.
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