stephen carroll with business news. coming up now, we will have a look at the rest of the international news in a short time. but first, i think we are going to take a look at reports. it is time to take a look at what has been making headlines in the world newspapers. press review. catherine, we are starting off with greece and the latest election. catherine: i want to start with greek papers. -- theirtart with 10:00 a front page claims it is the era of tsipras. a left-leaning paper says the government is strengthened for four years. centerleft, trumpets a clear victory for tsipras. paper,-wing affiliated so their headline is less flowery, says it is a second and the tsipras president of the greek independence that formed a coalition with syriza. the english language daily has an article that says a question mark hangs over the government. syri are those that say a za government may lead the country out of the doldrums. the government will not be able to deliver. >> a lot of big questions. in the international press, a

i am joined in the studio by stephen carroll. hello, stephen. talking about the man who is being described as the best loss in the world. i would like to meet him. stephen: it is a credit card processing firm based in seattle in washington state. the headlines earlier this year, he was going to raise the minimum salary for the 120 tople working at the company 70 that -- to $70,000 a year. it, he put profit back into salaries. we spoke to france 24 about why he decided to take this step. >> we are so passionate about helping this businesses that the staff is continuing to sacrifice, work extra hours, anything to help our clients. but they got way out of balance where they were not being paid. problem, which is the gap between what it costs to make the basic ends meet, like housing, and income, there is a continuing tension there, where the cost of living is going up and incomes are not rising with it. there is also an increasing inequality. these independent businesses -- what i realized is, they really depend on a strong middle class because in

stephen carroll is with me in the studio. hi there, stephen. lots of news coming in thursday. from the environmental scandal and volkswagen. he keeps on coming, doesn't it? stephen: we have lots of several pieces of information. startrmaker is going to naming those responsible for manipulating emissions tests tomorrow. this as the german transport minister has confirmed that some of the 11 million affected these all models of volkswagen cars were sold in europe, although he could not say how many. he has called for new on the ,oad emissions tests in europe being supported by the european commission, not set to be agreed in the coming months. they will face -- as well as from france, and korea. -- south korea. >> this comes after the chief executive of volkswagen, martin winterkorn, finally stepped down from his job on wednesday. 128 pension is worth million euros. he could also be eligible for a severance payment of over $3 million. both white and's supervisory board pointed out wednesday that martin winterkorn was not aware of the regulation of the effect of cars. >> you can

time for our business news with stephen carroll. we start here in france with a day in court for uber. stephen: that is right. two senior executives of the company over its lows cost -- over its low-cost service, uber pop. six charges, including misleading commercial practices. uberpop connects drivers without formal training or taxi licenses. the service was shut down in july amid angry accusations from taxi drivers of unfair competition. they face a maximum penalty of two years in prison and 300,000 euros. french government has unveiled its spending plans for next year. stephen: the french government is cutting spending by at least 16 billion euros in 2016. it is also hoping to take in an additional 2.4 billion more exilesiles -- as tax declare from abroad. the markets in the meantime -- some worrying news for the euro zone economy echo stephen: these are figures on inflation, or rather, deflation, as prices fell 2.1% in september. this is what is happening on the markets. not concerned at all with those figures. we are seeing a bi

time now for the day's business news with stephen carroll. u will start with the frankfurt motor show where things are looking up for the european car market. stephen: a bit of good news for european car market -- car manufacturers figures show that figures -- that sales rose by 11.5%. decisions are up by almost 9%. -- new registrations are up by almost 9%. this is open to offset fears over a slowdown in chinese sales. we spoke to paul wilcox. he told us from the frankfurt motor show what his view of the european car record is. paul: the market is very strong. western europe has seen a good recovery. it is being led by market with strong recovery in southern europe. stephen: is europe the area we ford be looking at carmakers, whereas in the past we had looked at china and emerging economies? if you're going to be the driver for growth for you? -- is europe going to be the driver for growth for you? paul: we have to be very cautious, but we should also understand the market declines of the last few years. seen pictures of volume growth outside

business news now, with stephen carroll. i like that i read on my page moment ago what we are going to start with, beer. stephen: the makers of inbev, hasabi approached its opponent, -- it's aboutition, sab miller, buying them. it is hoping to secure agreement from the board of sab. it would give the combined firm almost a third of the global market share of beer. it could face regulatory restrictions in many areas, including in the united states and china. genie: how about the markets? inbev investors will be happy, up 20%. paris, he can see shares of over 1% there, but also gaining in london and frankfurt. genie: let's come back to france, or the government has given us the framework for next year possible budget. >> suspending plans of what will be a digit -- a difficult budget, paris maintain its path for growth and cutting the budget deficit. the government has to find money for $2 billion in tax cuts. >> lowering the public deficit is one of the main targets for the french government in 2016. in 2014, at gdp next year i

time now for the day's business news with stephen carroll. stephen: we were talking about opec having the biggest rally in prices in 25 years. and theave now turned other direction. seeing the price of oil slipped back into the red yesterday and today. of theinting surveys manufacturing industry as china and the united states, the two top consumers of oil -- the over crude index down 1.5%. that is still relatively low for the price of oil. many companies have had to cut back spending. it will press ahead with drilling in the arctic. ell will press ahead with drilling in the arctic despite growing protests. not retreating. they say their controversial arctic exploration is going well despite conditions. the president says he is looking at the long-term perspective. >> one of the most frequent questions i get, why explore the arctic now? why are you guys out there now? a lot of it is based on the question that you just asked. to build uprs the capability to do this the right way. >> companies such as bp have expended -- suspended their arctic dr

stephen carroll joins us in the studio. we will start with breaking news about the strike at german airline lufthansa. stephen: a german court has ordered striking pilots to stop their strike action. that decision coming in the last half-hour. 1000 flights out of the german airline have been canceled on this second day of strikes. affecting someone hundred 40,000 passengers. this was the 13th walkout by pilots in the last year and a half and their dispute with management over early to -- early retirement provisions. >> let's turn to the markets. stephen: the japanese markets had their best day in nearly seven years. the end of trading. that the optimism volatility on the chinese markets is now under control. that boost, coming from japan helping things. the main european markets are trading significantly up at this point in the day. paris and london, up over 2% as the china's foreign ministry says it will speed up test reforms for investors. >> a story in france. a new report has come out on the controversial issue of labor

. >> time for business news, stephen carroll is with me. china,going to start in because authorities are doing their best to talk up the economy. stephen: we have been hearing from the chinese premier who says the company -- country's economic transition is not a risk to the global economy and the country is on task to meet its targets. premier league was speaking as aspremier lee was speaking food prices jumped. chinesethe slump on the stock market is not a sign of a bigger problem. >> the chinese economy faces difficult days and pressures but with in a reasonable range. in the past two months, some economic indicators have showed downturns or fluctuations, but the measures we have adopted are gradually showing result. some indicators have to's -- started to pick up. generally speaking, the fundamentals of our economy remain unchanged. stephen: the computer manufacturer dell will invest $25 billion in china. it is its second-biggest market. delldvent made by michael during a visit to china. >> three months before the climate conference, the

business news now with our very own stephen carroll. you are starting with the latest on the emissions scandal with volkswagen. stephen: prosecutors have opened an investigation into the former chief executive, martin winterkorn. it will focus on allegations of manipulated emissions data. warned aboutdia the cheating software and the company cars as long ago as 2011. supervisory board was given -- the matter was never addressed. a little more detail on the breakdown of those 11 million cars fitted with software designed to chain -- to cheat in missions tests. let's go to the united states, where the indian prime minister has been making some big friends in silicon valley. that's right. prime minister modi was visiting some of the biggest names. access to the internet is still an issue there rate during his itmicrosoft pledged to bring to indian villages. first visit to the u.s. west coast by the indian prime minister in over 30 years. given a warm welcome to silicon valley to spain to tech companies as well as a significant indian diaspo

it is time for business news with stephen carroll. we are starting with the latest on the emission's scandal at volkswagen. stephen: we are getting a new desk getting new information customers will get details in the coming days on which of the diesel models need to be recalled and what they have to do to have the software that was fitted to cheat those emissions tests changed. volkswagen needs to have this planet place before next week to satisfy regulators. our correspondent has more on this story. taking the drivers seat to steer volkswagen through its biggest scandal in history. during a meeting monday night, vw's new boss unveiled a plan that -- customers will be advised in the coming days which cars have to be refitted. 11 million vehicles are expected to be recalled, including vw, audi, and fiat. he also wants to separate vw, which is struggling with low profit margins, from others in the group, like its porsche and audi brands. first stepis the toward modernizing the company. with a long trudge ahead, he called it, to repair th

in business news, stephen carroll is with me in the studio. this is a huge story, the scandal at volkswagen. they had been hiding emissions from cars and this keeps getting bigger. right, boats now says 11 million cars worldwide were fitted with that software designed to cheat environmental tests. much bigger than a half a million cars that were recalled by the company in the united states over this issue. is settingsays it aside 6.5 billion euros -- volkswagen says it is setting aside 6.5 billion euros. the shares are tumbling further. they are down over 17% in frankfurt in trading. that $130.rice open 15 billion euros was knocked off of their value. many countries are launching their own investigations from the volkswagen cars. the head of american business said they made a big mistake. in my german words, we totally screwed up. >> after seeing billions wiped out of the value, the volkswagen head of american operations talked about this. >> our company was dishonest with the epa and the california resources board and all of you. we must fix

staying with that press conference from the french president, stephen carroll is with us. francois hollande also had some economic announcements to make during that press conference. andhen: he did announce income tax cut in 2016. it will affect 8 million french households to the cost of 2 billion euros. those will help low income workers mainly and aim to reduce the number of households that pay income tax in france to the same level they were in 2010. it has been rising steadily since. he also addressed the issue of how the tax cut be paid for. >> it will be done through cutting expenses. we cannot cut income taxes by raising other taxes. deficitt worsen our because we are trying to bring it down. 3.8% of gdp in 2015, 3.3% in 2016, that is our goal. that is my responsibility, so that in 2017 we will be under 3%. annette: he also touched on that very sensitive subject of the country's 35 hour working week. stephen: he did say the maximum working week would not change but it could be adapted under certain circumstances. he said a new law will be passed to allow more flexib

business on "france 24" with our very own stephen carroll. one thing dominating the business headlines, the federal reserve. will the american central choose to raise interest rates for the first time in nine years? it has people arguing and investors skittish. we are looking at how the federal reserve makes decisions and why the rest of the world pays attention to it. reporter: it is the guardian of the world's number one economy. america's federal reserve bank. it manages what is called the federal funds rate, which helps to dictate the cost of borrowing u.s. dollars for everyone. for the past seven years, the federal reserve has kept the rate near 0% so that banks could pass along the low cost of borrowing to consumers and -- tosses to get stimulate activity and create jobs. tool to manage the economy is interest rates. low rates help to stimulate growth, while high rates help to put the brakes on. unemployment is hovering just over 5%. interest rate -- an interest rate hike could see the dollar strengthened against other americans, making

let's take a look at the day's business news with stephen carroll. starting with the european central bank. >> we're not expecting any major decisions on interest rate when they make that announcement early minutes time but they are expected to cut their forecast for inflation across the eurozone. .2%,nflation is at euro far below the ecb target of 2%. this is mario draghi and his team spending 60 billion euros a month to boost the stocks in the european economy. what to expect from the ecb press conference. >> greece is no longer on the agenda. happened,eeting, what and what is the situation today. greece was right on top of the agenda. that is no longer in the play. ,hat we have now is euro which was dropping has brought back up to 112 113. secondly is the inflation part of the equation, it is very important. mario draghi needs to knock that down if you really want do something about it. the reason, as you said commodity prices are dropping. the reason for that is oversupply in the market. they are drafting that, opec or not opec, that is the quest

stephen carroll, let's start in china, where there is more bad news from china on the economy. stephen: and industry is slowing down. -- thels perching official purchasing index showed a slowdown. the second-largest economy through the head of the international monetary fund, christine lagarde, has warned emerging economies they need to pair for a bumpy road ahead with china. joseph stiglitz about this. he said the slowdown is producible. beenh stiglitz: china has the basis of economic growth since the 2008 crisis. butonly the direct effect indirectly through latin america, through africa, where they demand a lot of economies -- of commodities and natural resources. we all expected china's growth to slow down. it was moving from the quantity to quality. it needed to reform its growth model to domestically demand driven growth. stephen: you can see the tomorrow on "france 24" at 16:45. 200 people have been singled out by beijing for contributing to the market turmoil. government officials, bankers, and a financial journalist have been accused of spreading false information about

stephen carroll joins me in the studio for that. we are starting with this huge ongoing scandal at volkswagen. the pressure is mounting on the chief executive. plusen: martin winterkorn future as a company is being discussed. in advance of that on friday, he is being grilled as -- at the headquarters. volkswagen facing an increasing number of government inquiries now around the world. france's environmental minister is the latest to promise extremely tough inquiries into the emissions hiding scandal. dozens of class-action lawsuits were launched from customers. our correspondent has more. >> on top of the official investigations in several countries, volkswagen now faces angry customers demanding their money back. dozens of class-action lawsuits have been launched. it claims that people may have bought cars that are not roadworthy. you go to get your epa approval for fuel emissions and the government of the state of illinois and california says to you we are not going to approve this car, we will not give you license plates, the mus

carlson mark stephen carney joyce ann carpeneto jeremy m. carrington michael carroll peter carroll james joseph carson, jr. james marcel cartier vivian casalduc john francis casazza paul r. cascio thomas anthony casoria william otto caspar alejandro castano arcelia castillo leonard m. castrianno jose ramon castro richard g. catarelli christopher sean caton robert john caufield mary teresa caulfield judson cavalier michael joseph cawley jason david cayne juan armando ceballos jason michael cefalu thomas joseph celic ana mercedes centeno joni cesta jeffrey marc chairnoff swarna chalasani >> and my precious daughter, suzanne. she was a light of my life. >> and my husband, firefighter, edward. bill and i, our families, make sure no one ever forgets you. and for those who never knew you, they know you now here. >> to all first responders, thank you for keeping our families safe. we pray for your safety every day. the 9/11 families i've met through the years, the immediate bond we all have creates one big family and i pray for peace in the hearts of all you. god bless first

carlson >> mark stephen carney >> joyce ann carpeneto >> jeremy carrington >> michael carroll >> peter j. carroll >> james joseph carson jr. >> christoffer mikael carstanjen >> and lean c. carter. >> james marcel cartier >> sharon and carver >> vivian casalduc >> john francis casazza >> paul r. cascio >> neilie anne heffernan casey >> william joseph cashman >> thomas anthony casoria >> william otto caspar >> alejandro castano >> arcelia castillo >> leonard m. castrianno >> jose ramon castro >> william ec. caswell >> richard g. catarelli >> christopher sean caton >> robert john caufield >> mary teresa caulfield >> judson cavalier >> michael joseph cawley >> jason david cayne >> juan armando ceballos >> marsha g. cecil carter >> jason michael cefalu >> thomas joseph celic >> ana mercedes centeno >> joni cesta >> john j. chatham >> jeffrey marc chairnoff >> swarna chalasini >> and my precious daughter suzanne rose, she was the light of my life. >> and my husband firefighter william edward prokalski. bill and i, our families make sure that no one will never forget you. to all of the first