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tv   Business  Deutsche Welle  September 25, 2019 8:30am-8:46am CEST

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the settling time for empires came to jurors or dealing with a name that i killed many civilians. coming including my father says i was a student i wanted to build a life for myself. but suddenly life became alledge kind of. providing insights global news that matters d. w. made for mines. thinking of chinese trade practices u.s. president almost makes his case to keep the trade war with china going and spokes investors in the process. all get out that's the message for stranded thomas travelers around the world without the latest on the travel john's
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demise and its effects. this is the business as in berlin welcome u.s. president on the trump delivered a stinging rebuke to china's trade practices speaking at the un general assembly trump accused of breaking promises made since joining the world trade organization in regard to the ongoing trade war trump said he would not accept a bad deal suggesting the problems. between the world's 2 largest economic. hopefully we could reach the advisory board of germany's to coal power cold for its c.e.o. to step down as the engineering and steel conglomerate looks to revive its fortunes . only took up the role in july last year and had a contract until 2023 is the deal is still to be negotiated to a close adviser to bill chandler will take the reins to. come from the drops out of germany's blue chip index ducks this month's. let's bring in our financial
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correspondent in frankfurt on that. one of germany's huge legacy conglomerates if you will what's going on there. well good ocado for us a c.e.o. as been under fire for some time he was never considered the best choice for the job but only the best one bailable and it's apparently a power struggle that he lost out and you know now it's a supervisory board chairman taking over here in the stock markets. well that's never seen as an optimal solution the satisfaction with scouts off over wavering for the strategy 1st out of steel then into steel for skipping elevators and putting them up for sale and then wavering on that as well and the company is going downhill fast not a good story. and usually noisy that way you are what's going on that. i can hardly hear. that there are all these employees down here of the i.p.o.
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candidate that's coming here team viewer they said they were going to bring about half of their staff to enjoy seeing the company being listed in the stock market on its 1st day it's a huge event and it's a huge i.p.o. it's the largest i.p.o. in europe this year it's the largest tech i.p.o. in germany since the dot couple dotcom bubble burst many years ago a successful company it's recently become profitable and has customers around the world many big companies among them it connects computers to one another so that you and i we have problems can be serviced online by someone somewhere else. we balance in frankfurt thank you very much. we're staying in that line of business because if you believe many economists the future of payments will be cashless what exactly should governments be doing to deal with the new world of digital money here in germany lawmakers are today conducting public hearings on the
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future of catch and that future might not be all that far off because if you keep money in the bank it is already being converted to a point of data on a digital ledger if you will it might just be a bunch of ones and zeroes but for now it's still backed up by government promises that's going to change as more and more companies start to create their own digital currencies and that's chipping away at government control of the monetary system crypto currency is like bitcoin or facebook facebook's plan to libra highlighting lawmakers and central bankers fears that the tools of monetary policy might soon be useless because crypto currency is undervalued governed by uses faith in the system radical free market solution to digital comus one that governments around the world are struggling to deal with and one of the experts giving testament to his hearing
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in berlin is with me in this studio now is dr barry gaze a scene i've seen a business consultant with bearing point welcome to the studio of. what's your general feeling do politicians have any idea what they're dealing with in terms of crypto currency i think they have an idea. government of the federal republic of germany had made a block in strategy and they have shown that they have understood very well what the blocked on and she could to do it could combine secure nurse against manipulation of data the transferability of data which is an old woman. the internet we had an internet of information snow we could have an internet of trusted information sense of well you. just a simple question one that maybe politicians will ask you later today 10 years from now will you still have banks and central banks i think we will have because
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technology is not displacing the functional competence of banks so you will need banks for transformation of credits and time risk and lot sizes and you will still need humans but the media would change they would do this on the block like they do it today and i t. systems not on paper. crypto crosses like bitcoin theory of for example have been around for a while but they have not really caught and gone with the masses half that i mean i don't have any big con i don't use bitcoin to pay facebook's libra is going to be a big thing will it change that will it sort of make the masses adopt cryptocurrency it could change change because it has $3.00 m several adventures just compared to existing cryptocurrency. should be founded on
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a basket of currencies so it would be stable from the beginning and it has critical mass from the beginning if you think about facebook and twitter mutual on top of the world population shouldn't just yeah and money in network depends on network effects and this puts stock would make a mess from the beginning and. reason it's. simple user interface it's convenient for us bitcoin and it's your on drearily convenient for. oh people yeah the convenience will make a big difference won't it yes of course i think i personally think convenience is the most important factor in this game and you really think that german politicians have your head have their heads around cryptocurrency. i think so because
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every serious central bank has its own block and projects and want to understand the titian all that she and today we talk in the german parliament about it so i think they are informed and they will do their best to compete in this new markets. thank you very much for coming to the studio today thanks. one day after the thomas cook bankruptcy the outlook for its subsidiaries has improved for one of its subsidiaries that is the governments of germany as well of the state of that will provide a bridging loan or 380000000 euros to keep the airline in the air inject investment needed it into the otherwise profitable company was founded in 1955 and has been owned by thomas for a decade. meanwhile things remain difficult for thomas cook customers who just
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want to get home. going to be inert is upset 1st his hotel demanded a 1000 euros to cover his room bill money he had already paid to thomas cook and then he had to spend another $200.00 in $1000.00 euros for a flight home to munich. just paying left and right always paying i have no idea where the money should come from. and yet he still doesn't know how we'll get home it's quite ironic because being not paid for an all inclusive trip so he wouldn't need to worry but the carrier for his trip is currently not operating flights from majorca. british tourists and my your cousin seem to be doing much better than the germans those with thomas cook bookings are lining up at check in counters the british government has sent help and is still trying to arrange return flights for everyone left stranded. tourists all across the mediterranean island desperate
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sabina is from the german city of dumb shot and has booked a 4 star hotel what was supposed to be a special treat turned into a nightmare on monday. is pakistan mom i went to buy some water at the supermarket next door when i got back my room key wasn't working anymore. yeah at the front desk they told me i have to pay for my room to get back in for the hose stays not just for the 2 remaining days. however. she told staff she needed her money and some medicine from her room then she packed up her belongings and ran she found a cheap room elsewhere for the remainder of her stay les look sure is of course. sabinus trip is about to end she's planning to fly home on wednesday but it's unclear whether her flight will operate as scheduled or if she'll have to pay again for an alternative. fee a british exit from the e.u. without
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a deal it is looking more likely by the day the so-called no deal breaks it could turn the french port of l.a. into a major choke point to prevent this front has introduced a new border control system comprehensively tested for the 1st time on tuesday. there are no long lines to be seen here at the dress rehearsal for a no deal breck's that france has prepared itself for the emergency with a new digital board system in. their break that will have to reintroduce border checks even if the e.u. and britain don't impose customs duties exporters and importers will have to fill out forms again you can use our system to do that online in advance. they just scan in the barcode and continue on their journey if you see something and. only certain items like food will be physically examined at the border hundreds of border guards are getting ready not only do they intend to prevent waiting times they also hope to cushion the adverse effects of brecht's that after all kalai is the main hub for
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trade between the e.u. and britain invest. of course we know that a future tariffs are imposed. our business could suffer. especially of companies started exporting or importing less between the e.u. and britain pretty ubiquitous he's a little but we've made it our business to be prepared to play it and we are even for a no deal breaks it breaks it but it still up in the air if the new board a system will actually go into effect at the end of october. that's it for me and the business team. to check out the website as well as the w dot com slash business this is a quick look at global markets. plug
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. into its site. with its own gravitational pull of. the finest musical compositions. with some mysteries terrific.
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film industry wasn't it. don't tell me that there's a number. for yale and the jointer come up in the morning. greenfield the symphonies of dramas. the proms come. starts oct 11th on d'italia enough i am. hello and welcome to the latest from arts and culture well it may be a collective but the berlin philharmonic is a very single minded orchestra and so conducting debut with them is certainly a big deal we'll see how sun to. finland made out and also take a look at these stories. germany's tom johnson has issued trumpet player to.
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the camera and he's trained his lens on germany's erstwhile industrial heartland the ruler valley. and since the beginning of the 19th century there are a fixture in sicilian folklore we look into the traditional horse drawn cart that still charm the island's tourist. well it was a critical moment for sun to. this past weekend the young finnish conductor debuted with the berlin philharmonic orchestra even though he's already a star in scandinavia with no less than 2 orchestras in his charge in finland and in sweden the true test for the 33 year old was on the continent so let's see if he passed. to watch. just because he is one.
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