c.e.o. of german industrial giant siemens announced today that he'll pull out of the davos in the desert now that's the massive investor conference set to begin this week in riyadh move may not be a surprise in the wake of the suspected murder of journalist jamal. but for kaiser and his company it's not an easy one. preparations are well underway the mood though is muted said his future investment initiative a conference known by some as davos and the deserters kicks off in riyadh on tuesday but the number of participants is dwindling delicious business leader to polish of the event is this man seaman c.e.o. joe kayser he announced his withdrawal following pressure to respond to allegations of saudi involvement in the killing of journalist jamal to shoot a turnaround last week when qasr said he was still planning to attend in a statement posted on his linked in profile he said i will not attend the future

c.e.o. of german industrial giant siemens has pulled out as well albeit reluctantly. kitty dimitri a c.e.o. of their russian direct investment fund an idea. the organizers had launched a charm offensive to ensure the conference met super billing with a high profile roll call of business names to to attend but the reality on the ground as the conference opens is a sobering one. that among those giving the event a miss on the u.s. treasury secretary the head of the i.m.f. and the c.e.o. of industrial conglomerate siemens joke asia he cancelled only at the last minute prompting further criticism back home in germany. men saying the business of business is doing business business has also the responsibility is this leaders are also moral leaders in our well now with. ford j.p. morgan and likewise dropped out of the event. the organizers have refused to reveal just how many guests will be absent and have taken down a list of plans speakers posted earlier on line. the three day meeting dubbed davos in the desert is still expected to see the signing of major billion dollar de

c.e.o. of german industrial john siemens has pulled out as well albeit reluctantly. so what to do with saudi arabia let's bring in thomas not about he's a member of parliament for the normally business friendly opposition liberal party which has business leaders to pull out of that conference misses of a bag as opposed to ok as i said if we stop talking to countries where people go missing we can stop doing business altogether china for example isn't exactly friendly with a position journalist neither is to the philippines is your party now saying we should stop doing business with china for example. well i'm not only talking as a politician at all the us talking is somebody who of us serving for fifteen years on the board of management of major corporations. i think kayser even at the beck that the whole public opinion the political scenery all around the world distance itself from saudi average saudi arabian king to be all trying to take jams. to distance itself from participation. doing business in it in a case where the letter is being disclosed probably in very v

c.e.o. of german industrial john simmons has also pulled out albeit reluctantly. so what does all that mean for the kingdom and those doing business with it let's bring in somebody who's of our analyst from medical finance and joins us now from dubai we've heard that countless high profile figures have pulled out of that conference does that hurt the kingdom financially i wouldn't say it would hurt them financially in terms of fifty to. seventy ruining part of that image that crown prince had been so none has been getting so much effort into building in the recent months over economically it does it wouldn't affect so that the saudis the largest oil exporter one of the largest oil exporters in the world and in fact probably investment fund has been investing heavily in stocks all around the world especially in the states. so for the companies for example who have actually pulled out do the saudis watch them carefully and do they have a long memory on these companies expect when all this is blown over this whole scandal and they expect to have more trouble doing bus

c.e.o. of german industrial giant. now also announced that he will stay away opiate very reluctantly. preparations are well underway the mood though is muted said his future investment initiative a conference known by some as davos in the desert kicks off in riyadh on tuesday but the number of participants is dwindling delicious business leader to pull out at the event is this man seaman c.e.o. joe kayser he announced his withdrawal following pressure to respond to allegations of saudi involvement in the killing of journalist jamal to shoot a turnaround last week when casey said he was still planning to attend in a statement posted on his linked in profile he said i will not attend the future investment initiative twenty eighteen it's the cleanest decision but not the most courageous one and it's not a decision against the kingdom or its people it's a decision based on how much responsibility one can assume at one time for now the truth must be found and justice must be served. cases one of several business leaders who find themselves in a moral quandary in the run up to the side of t

c.e.o. of german industrial giant zealand's has pulled out as well albeit reluctantly.kitty dimitri a c u. if there are shouldn't dyadic investment try an idea. the organizers had launched a charm offensive to ensure the conference minutes. with a high profile roll call of business names to to attend but the reality on the ground as the conference opens is a sobering one kit among those keeping the event a miss on the u.s. treasury secretary the head of the i.m.f. and the c.e.o. of industrial conglomerate siemens joke asia he cancelled only at the last minute prompting further criticism back home in germany. i don't know what he meant saying the business of business is doing business business has also the responsibility business leaders are also moral leaders in our well now with. forward j.p. morgan and likewise dropped out of the event. the organizers have refused to reveal just how many guests will be absent and have taken down a list of plan speakers posted earlier on line. the three day meeting dubbed davos in the desert is still expected to see the signing of majo

c.e.o. of the german industrial john john simmons he has pulled out as well albeit only reluctantly. seaman c.e.o. decided to pull out of that conference only after criticism is growing louder especially from politics a little earlier i must. go he's a member of parliament for the business friendly f.t.p. and liberal party and i asked him if business should be voting itself with more also strictly stick to making money. specially be ensuring many. want to be new what it means if politics as it to extreme affiliation business and business respectively business politics i do not believe in milton friedman same the business of business is doing business business has also political responsibility business leaders arm are also moral leaders in our belt now with this. donald trump's latest threats over a new nuclear arms race as well as the full of following the murder of saudi arabia and journalist have made investors nervous also the looming standoff between roman brussels over italy's budget and uncertainty around the u.s. midterm elections have done little to help sentiment all that whi

and crisis averted for now after years of turmel german still giant to simply call splits into and names a new c.e.o. . this is it of your business as well the united states and canada have agreed to a deal to replace the north american free trade agreement that is according to u.s. officials who said it will go by a new name the united states mexico canada agreements canada has been frozen out of a deal reached in august between the u.s. and mexico to update now after the eleventh hour talks between ottawa and washington guaranteed that all three members will be in the new version of the tri pact. is a predator is it a good deal very is it did you ever get a good day for canada ok i'm certainly not justin trudeau was in good spirits after a cabinet meeting in ottawa once the final stumbling blocks had been removed there will be no tariffs on the two point six million cars that are made in canada and sold in the u.s. but there was still no sign of an agreement on tariffs on canadian steel and medium exports canada says the deal is good because the country can also go to an independent referee when i

and crisis averted for now coffee years of turmoil german steel giantess and coke splits into names a new c.e.o. will be talking to him on the program. this is your biz. this update i'm headed home free in berlin thanks for joining me the united states and canada have agreed to a deal to replace the north american free trade agreement that's according to a us administration official who said it will go by a new name that being the united states mexico canada agreement canada had risked being frozen out of the deal reached between the u.s. and mexico to update now to but eleventh hour talks between also and washington guaranteed that all three of us will be in the new version of the trade pact is erroneous or is it a good deal very is it a good deal for going to good day for canada ok i'm certainly not justin trudeau was in good spirits after a cabinet meeting in ottawa once the final stumbling blocks had been removed there will be no tariffs on the two point six million cars that are made in canada and sold in the u.s. but there was still no sign of an agreement on tariffs on canadian steel and

and crisis averted for now after years of turmoil german steel giants to some corp splits to names a new c.e.o. . it's time for business on the w. . welcome to the program the united states and canada have agreed to a deal to replace them after free trade agreement that is according to a u.s. official also said it will be renamed the united states mexico canada agreement until now canada had raced out of the deal reached in august between the u.s. and mexico to update nafta but last minute talks between ottawa and washington guaranteed that all three members will be in the new version of the trade pact so we've negotiated this new agreement based on the principle of fairness and reciprocity. the most important word intrinsic been treated unfairly by so many nations all over the world and we're changing that. u.s. president donald trump sounded pleased with the pact which rescues north america's three one point two trillion dollar open trade zone since trump's election a quarter century old pact which includes candidate the u.s. and mexico had been brought to the brink of collapse negotiators s

c.e.o. of for one win with twenty five goals actually heroes is now our all time top scorer in the bundesliga. still the come on d. w. after years of turmoil german still trying to separate the set for a major restructuring the company splits in two parts names a new c.e.o. talk to him live in just a few minutes. that's coming right up to town for. i'm not laughing at. well because sometimes i am but most end up with that. because deep into the german culture he knew to take his grandmother to eat it's all that. next time rachel join me sunday to host. time for an upgrade. furniture grows all by.

c.e.o.'s you've been a cornerstone of german politics for sixty years tell us a little bit more about the policy of the party has you know it had to find itself for many years as not allowing anything to the right of it so you know i remember in the one nine hundred eighty s. going to ring there of a much earlier bavarian regional election and seeing campaign posters that were very anti foreigner at that point in time migrant it's a flavor that d.v. alternative for germany party has adopted and and has succeeded with since two thousand and thirteen so the c.s.u. this the varian conservatives have shifted a bit i think from the perspective of the far right voters they have become attracted to this far right party because they feel that the conservatives have left that space open and so they've taken that space. on the other hand you could say that the very end leader the leader of their own party. who's also the interior minister has pursued a course of attacking chancellor merkel over and over again over her policies on migration and that's had some backlash because there are people in bavaria a

c.e.o. is the high point of the investigation by german prosecutors into efforts by german comic is to fraudulently lower their vehicles emissions test results audi's parent company folks martin has since it started on. the british government says it will begin taxing large online platforms like facebook and amazon that operate in the u.k. by the year twenty twenty that's the most significant effort yes to reshape tax codes in the digital era the two percent tax will target online firms earning more than five hundred million pounds annually finance minister philip hammond said such companies generate substantial value in the u.k. but paying corporate taxes in low tax jurisdictions elsewhere the measure is expected to raise four hundred million pounds and in the e.u. has been debating a similar tax when britain leaves the european union not only england scotland wales and northern ireland exit the block but also other sovereign british territories like gibraltar or even smaller areas but british military bases in cyprus and that's posing a big problem to all of farmers there because they rely on ope

of last year german state prosecutors raided the audi headquarters and discovered these internal documents describe these measures that were being taken with a south korean export so meanwhile former c.e.o. of the rupert father has been in jail since a jew in a four is allegedly role in the coverup and he's not thought to our. said anything about this until now so his arrest is partly to keep him from interfering from ongoing investigation so it's possible that as investigators go about their business even more will come to light see the vote that jail time do we have any idea at this stage what further consequences could be for the group. with regard to the south korean case there have already been some actions taken out of the probe is a link to an older case where a south korean audi executive was sentenced to eighteen months in prison for falsifying certification documents for cars and it's fair to note that south korea itself has been particularly tough on four x. five and some say the emission story emerged now it actually banned eighty eighty models from being sold at the time although sales started up again so if you take that as an example depending on how much more is discover

of turmoil the new c.e.o. . promised no further job cuts and officially kissed the company's crisis goodbye. this is how the german industrial trying. to present itself innovative with an eye to the future but there's still an industrial component producer is having to take drastic action to see that future come to pass european steel prices plunged in two thousand and eleven after cheap chinese steel began to flood world markets to some quick was hit hard by the low commodity prices leading to liquidity issues and a twenty seven percent drop in its share price now thinks splitting into two companies will help him deal with a changing market supervisory board approved the measure over the weekend the plan will see one company taking over the steel and construction material production which has almost forty thousand employees and a turnover of about eighteen billion euros the second company will inherent to some elevator and automotive component business with around ninety thousand employees and sales of around sixteen billion euros interim c.e.o. who care costs will head both companies for the long term unions and

c.e.o. is a high point of the investigation by german prosecutors into efforts by german comic is to for dylan really blow their vehicles emissions test readings out his parent company folks has since fired start like. germany's black area lost tons us says it will raise ticket prices in twenty nine thousand following disappointing earnings in the recent quarter profits sunk to roughly one point four billion euros between july and september eleventh percent less than the same period last year germany's largest airline has been hit hard by a combination of soaring fuel prices competition from budget airlines and compensation payments to customers due to flight cancellations. there generally payment company wild card has had better than expected growth during the first nine months of the year revenues for the period to september rose to more than five hundred forty nine million euro's substantially beating analyst expectations earnings jumped by thirty six percent to one hundred fifty million euros also much higher than anticipated wild card is expecting business to keep expanding in the fourth

come on the program after years years of turmoil german steel giant to some credit is set for a major restructuring the company splits into two parts and gains a new c.e.o. and we will talk with him live in just a few minutes. but first in the butt to say got out of the managed and important win over five largely thanks to their star striker his return from injury came at the perfect time for the bavarian side in a four one victory. i was booked to delete inside twenty minutes thanks to put it better to be a midfielder coyote applying the finishing touch. then they double digit lead in the thirty fourth minute to free her they put the car back out fridge symbol research with the free. not just any finish either a sensation or back you know what they were good going forward i was but less so leaving them back because defensive model allowed freiburg back into the match and our goal by jonathan schmidt of the most famous for writing. a foul on alfredsson bogus and then gave out but with charts from the sport in the sixty minutes and he himself stepped up to do the honors. he wasn't done they either poking home a third in the icy third minute to seal a fou

still to come on the program after years of turmoil german steel giant kissin could is set for a major restructuring the company splits into parts and names a new c.e.o. we'll take a look at its new start. but first a breakthrough in trade canada mexico and the u.s. announced they have agreed on a new trade deal to replace nafta gatt al first we'll have the details coming right up. first day of school in the jungle. the first cloning less of a minute doris grandma was arrives. joining a regular chain on her journey back to freedom. in our interactive documentary storm.

c.e.o. for the next five years he'll have the job of getting the company back on track off a year of turmoil. this is how german industrial giant is in corp legs to present itself in of a tube with an eye to the future but the steel and industrial component producer is having to take drastic action to see that future come to pass it plans to split its holding into two new companies to some group supervisory board approved a move at a meeting over the weekend the plan will see one company inheriting to some groups elevator and automotive component production while the second will take over its steel and construction materials manufacturing it's a drastic step but a much needed one if the company is to survive european steel prices plunged in two thousand and eleven after cheap chinese steel began to flood world markets unlike many of its competitors to some cope didn't turn to mass layoffs and the low commodity prices have hit the company hard leading to liquidity issues and a twenty seven percent drop in its share price. as part of tism group's restructuring the supervisory board also confirmed care called as t

of last year german state prosecutors raided the audi headquarters and discovered these internal documents describe these measures that were being taken with a south korean export so meanwhile former c.e.o. of the rupert father has been in jail since a jew in a foreign is allegedly role in the coverup and he's not thought to out said anything about this until now so his arrest is partly to keep him from interfering from ongoing investigations so it's possible that as investigators go about their business even more will come to light have already been some actions taken out of the probe is a link to an older case where a south korean audi executive was sentenced to eighteen months in prison for falsifying a certification documents for cars and it's fair to note that south korea itself has been particularly tough on forex violence since the emission story emerged now it actually banned eighty or eighty models from being sold at the time although sales started up again so if you take that as an example depending on how much more is discovered about fraudulent behavior around these old cars the group could face much more internal much more a sale suspensions in individual markets more fines

c.e.o. of barmy to karl hyde's roman to go it was revealed that they issued a cease and desist to axel springer group who own a german newspaper that built and failed so they're taking this very seriously in terms of their position they even targeted former players turned pundits karl-heinz who may get himself was literally pointing fingers we have a snippet of something he had to say the press conference terry let's take a listen to that now. to political news as he does a guy sitting right up here in the front row he goes on t.v. all the time making a big deal of how much they know and all the inside information they have to want that's a joke a complete joke and thus he said we're not going to accept that kind of thing anymore i want to make that very clear today. so what's really behind all this chris why do we see the top management there by and lashing out at the media well according you know to the information that came on the press conference monday last monday when germany's international performance there matching is netherlands you know came out the netherlands way that they convened and decided that they

c.e.o. pulls out even as chief executive joe kayser has announced that he will not attend the future investment edition of conference in saudi arabia it follows the killing of journalist. the german engineering giant is one of the last companies to decide against sending its top executives to the davos in the desert many companies including j.p. morgan and ford had previously pulled out of the event as has u.s. treasury secretary stephen moore nugent. to get the response to this story from puts a financial correspondent in frankfurt. is this going to have knock on effects i mean we're talking about just one call friends but is this going to have no one effect on the economy as a whole for saudi arabia. oh but a lot of people are not going to want to hear this but it's probably going to have a very minimal effect on saudi arabia first three reasons first at this conference business talks are still going to happen russian direct investment fund is going even the u.s. and u.k. do not want to get rid of their defense contracts so they're going to send representatives and with banks like in just b.c. and j.p. morgan pulling out while they're pulling out their c.e.o.'s but they're goin

of turmoil the new c.e.o. promised no further job cuts and officially kissed the company's crisis good buy. this is how a german industrial giant corp likes to present itself innovative with an eye to the future but the steel and industrial component producer is having to take drastic action to see that future come to pass european steel prices plunged in two thousand and eleven after cheap chinese steel began to flood world markets to soon cope was hit hard by the low commodity prices leading to liquidity issues and a twenty seven percent drop in its share price it now thinks splitting into two companies will help it deal with a changing market the supervisory board approved the measure over the weekend the plan will see one company taking over the steel and construction material production which has almost forty thousand employees and a turnover of about eighteen billion euros the second company will inherit to some groups elevator and automotive component business with around ninety thousand employees and sales of around sixteen billion euros interim c.e.o. care call for head both companies for the long term

german officers and then c.e.o.'s are being assigned to train foreign soldiers and then they aren't available to train their own recruits who. paid more than ten million euros for the training ofs soldiers eighty percent of that field went to the defense budget the rest to the finance ministry. for two thousand called the frigate deal was worth two point one billion euro news . at the time industry lobbyist tunstall is still fights but dean was head of marine systems. many customers have difficulties assembling operating crews for the devices providing them adequate training and maintaining the necessary level of expertise. that is not to lose of course a partnership with the blondest fair which has the necessary training academies and the staff to carry out the training is an enormous benefit and one that i believe must absolutely be taken advantage of. to sustain midst of all of that was still seems to be on the system is designed to benefit the defense industry but under this system a german company reports a profit as well as subsidy from german taxpayers who were never consulted via its bill if we were to consult them the fact of the surveys are clear eighty three percent

german newspapers the build envelop so they're really serious they were even point fingers at former players turn pundits c.e.o. karl-heinz room nigga literally was pointing fingers we have a little bit of what he had to say at the press conference let's take a listen to that. any sputum voters who don't play well and lose do not expect to be praised i was cute but there's a difference between what's been going on and serious and fair reporting which could also be critical of them to do it yourself or to show income. chris what is this all coming from why is the fire inherently so angry here we have to keep in mind this is a team that is also known as f c hollywood ok they've dominated the but as they go they've typically received praise not so much criticism and you know according to the brass that monday after germany lost on the international stage to the netherlands they organized together and decided they were going to attack the press saying they were no longer going to last longer going to accept this negative coverage because you have to keep in mind germany and baron have a lot of common players you know the goalkeeper a lot of central defenders and so forth you know the club p

c.e.o. of german industrial giant siemens announced today that he'll poor out of the davos in the desert now that's the massive investor conference set to begin this week in riyadh move may not be a surprise in the wake of the suspected murder of journalist jamal khashoggi but for kaiser and his company it's not an easy one. preparations are well under way the news though is muted said his future investment initiative a conference known by some on staff.

and a crisis averted for now after years of turmoil german steel giants to some corp splits into names a new c.e.o. . it's time for business on the w. . welcome to the program the united states and canada have agreed to a deal to replace the after free trade agreement that is according to a u.s. official also said that it will be renamed the united states mexico canada agreement until now canada had rest staying out of the deal reached in august between the us a.