oh. we're just moving. and successful beyond belief. this is the way we do it. we would start august 7th on d w. i day of reckoning for big tech the heads of facebook google amazon and apple are all jews before us congress to be asked if they're too powerful. in the aftermath of the wire car scandal the german authorities are also facing scrutiny lawmakers want to know how 1000000000 euros can just disappear. and final call

volunteers test out. for the head of its opening 11 years behind schedule. this is deemed to be a business on robots in berlin it's great to have you with us 4 of the biggest names in world tech are about to face questions from the u.s. congress that's a facebook amazon apple and google will be asked whether their companies with a combined value of over 5 trillion dollars of simply become too powerful the c.e.o.'s have already been getting them messages out ahead of the harry. this is facebook a data that disregards the privacy of its clients gives racist comments for your brain and hinders competitors not at all and says c.e.o. mark zuckerberg his company is so successful simply because it's the best. we got there the american way we started with nothing and provided better products

that people find valuable as i understand our laws companies aren't bad just because they big. is apple is so technically dominant that others don't stand a chance totally wrong according to tim cook. apple does not have a dominant market share in any market where we do business that is not just true for iphone it's true for any product category. are amazon's business practices harmful to other retailers because the company's getting bigger and bigger just come and have a look says the founder. i believe amazon should be scrutinized we should scrutinize all large institutions with the big companies government agencies will non-profits our responsibility is to make sure we pass such scrutiny with flying colors creating

a lot of the head of google send our pitch i will also be in the hot seat the big 4 are under pressure a number of investigations are underway into whether these companies are abusing their power today's congressional hearing won't lead to any direct measures to address that that could be the 1st step toward stricter regulation. on that speaks to our financial correspondent chelsea delaney joins us from frankfurt social see what is it about the way these companies operate that u.s. lawmakers. it really comes down to their role as as gate keepers and whatever industry they're operating and so each of these companies is it in a slightly different part of the internet world amazon obviously and e-commerce. google and advertising things like that facebook social media so they all are operating in different ways but they they all share these that they have these

massive platforms that they can use to for example favor their own products to to really shape the way that consumers are reading news in the case of facebook so they all have really dominance on some sort of part of culture and that's really become a big concern for politicians for regulators in the united states because they perhaps are shutting out competitors they're really altering the shape of discussion in the united states you but what can make is actually do about there any changes that we could actually see that's a really tricky question because u.s. antitrust law was really created in a much different era in the 18 hundreds and early 1000 hundreds and the age of railroad tycoon so it's really not built for the digital age there's really a problem around bringing cases like this because typically with antitrust law you

have to show that a consumer was harmed most of these platforms most of these companies are either free or in the case of amazon that they really try to get people of the lowest prices so there is a problem with showing what's showing harm to consumers but one of the big proposals right now is for example to break up some of these companies to force them to unwind some of the acquisitions they they've made and so that's likely more of a man achievable goal for these politicians and regulators. but we will be watching the parents in congress thanks for bringing us up to date our financial correspondent chelsea delaney and frank. and high ranking members of the german government are also facing scrutiny from lawmakers this time over the wild card scandal the dax listed jewel in the german fin tech crown collapsed a month ago after 1900000000 euro hole was discovered in its finances german parliamentarians want to know how it was allowed to happen. why are card once

a golden child of german finland tech now a by word for criminality and $29000.00 allegations began america in the financial times that executives were cooking the books not only did the authorities turn a blind eye they went after the reporters but the truth is that wire cards desean rides was too good to be true. the farm's model was to set up contracts between retailers and credit card issuers banks and online payment systems like pay pal saving retailers time and money. but why are card never around as much as they say the dead for years former c.e.o. marcus brown and at least 2 other managers allegedly manipulated the balance sheets on a massive scale they now stand accused of fraud embezzlement and market manipulation . in the recent us. working together the suspects began negotiations

on various loans and with investors well knowing that 1900000000 euros in assets a quarter of the balance sheet did not exist. in banks in germany and in japan as well as other investors were deceived by these false accounts and provided 3200000000 euros in loans due to wire cards installment c. less money as in all probability last. time. the money is gone and the firm's former chairman is on the run evading justice for years auditors and regulators didn't pay attention to suspicious activity at wire card no public prosecutors are asking themselves how this massive fraud could have remained undetected for so long . well let's get more on this from the he's a lawyer specializing in banking and capital markets here in germany thanks for joining us so a 1900000000 euros hole in the balance sheet how can that even happen so

we have to distinguish wired. which is a holding and listed company stock exchange and a crime in things and do wire caught the bank which made by and then trade services . pretended to do business in age and trustee accounts was and who should leave nearly 2000000000 euro is money did not disappear or it never existed or only in a small extend so it. reached a peak prices and made the story to inflate the amount of shares that was the purpose of the activities of this company of course this is the market to use in the criminal securities fraud but is there something about the

systems here in germany that allow a fraud like this to take place. no i didn't sing so we have a close network of regulation in the accordance with european law notably in banking and securities law this is mainly a case of criminal activity if this is a fraud case and the target of why a car was mainly to create a story you to maintain this in order to inflate the amount and deprive us of stark's shares and these were quietly long and now it was detected and so obvious aim is to get of course we need an improvement of controlling is or should be to market abuse in him in shares in the stock exchange. has been a great deal of criticism though of germany's financial regulator puffin saying it should have picked up on the problems of why i called much symond. fat. of course it's the oh sorry t 4 banking and securities creating market abuse and more

invested since 2016 when pressed he says of all the business emerged. bought into why our current bank is not insane when good and maybe even relied too much on others for example the audience who confirmed componentry statements every year without restriction and there was a reading by moody. several i do seeing so close to the amount and stock exchange crew and crew and increased sort of buffy was a duty to uncritical and we have to distinguish really 2 wire card shares and why a card playing which are 2 different companies and so maybe it is something went wrong. ok. thank you so much for giving us your expertise here on t.v.

business. thank you i have been getting to experience the city's new airport a mere 11 years after it was originally supposed to open an army of fake fliers have been trialing the passenger experience ahead of its belated opening later this year. this is one of 28 test days involving thousands of volunteers designed to put this massive airport through its paces ahead of a grand opening in october. if you can flying 2 cars 9115 and i have one piece of luggage. that actually contains real clothes. pulled so that she won't need because she's not flying anywhere today many of the testers were curious to see this trouble transport for themselves play bristol ease it's become both a national shame and a national joke that story. tax refund have never done not before i think it's an

interesting challenge for me today. with work here ongoing the only bargain on offer at duty free year some rubble and a hard hat the purpose of the test run is to iron out any problems like the lack of moving walkways along the long corridors. bill and moved to architect we learned that some things didn't work well with the bulky luggage where we have adopted the process we also learned how it works with large masses of people we call it q. management how can you move a larger group of people through a building operating normally it would do a good of the board of the for nothing being this project was flushed launched in 1991 know after a 30 year wait and $6000000000.00 euros the 1st take off is inching closer.

combating the corona pandemic. where does research stand. what are scientists learning. background information and news. hour carona updates. coated 19 special next on d w. our planet is burning.

places more suburban. flames that consume forests and entire residential areas. cut. rising temperatures for water shortages blends clearance there's an abundance of flammable material once again you get some of the stuff the fires. going to the small. local conflagration the world on fire starts august 12th on t.w. . by dusty very muddy tires and drums we deliver urgent lifesaving boxes we give our everything to reach those who need us the most every box feeding their futures. boxes full of all

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