tv Business - News Deutsche Welle October 26, 2017 3:02am-3:15am CEST
in the center right people's party of incoming chancellor sebastien kurtz and the far right freedom party. zero tolerance on anti semitism and said future partners must be pro europe. the great. debate drags on a member state wrangle over a weed killer which critics say. coming up flying high left. numbers in the cash top carrier bush told with its consolidation drive. division or a mirage saudi arabia revealed plans to build a megacity. business update on how long free in berlin thanks for joining me now it's a contentious issue but the e.u.
has decided to put a decision on life or say on the back burner once again member states called to agree on whether to renew the european license for the widely used herbicide over a million europeans have signed a petition against it worried that the chemical causes cancer some studies prove otherwise. it's the most commonly used herbicide in the world in europe farmer's sprague life has stayed on around half of all fields used to raise commercial crops but the weed killer is highly controversial due to concerns that could have an impact on human and environmental health today the e.u. once again postponed a decision on whether or not to ban it activists in brussels hit the streets on wednesday to push for one they say its institutions have colluded with the industry at the expense of the public so they want the commission to come out with a non-renewal of full band and you number of years whether it's one year five years ten years as long as its revenue it's not
a ban on european citizens have been clear they want to ban studies don't agree farmers say those methods are too expensive and think it's enough to only ban use of the herbicide directly before the harvest the battle will now continue as the e.u. committee responsible for making a decision was once again split at the conclusion of the meeting no hold was taken the commission took note of the position of different delegations of member states a form in which it would no reflect and really knows the date of the next meeting shorty. the commission is in favor of extending use for another five to seven years but it will have to reach an agreement soon life a state's controversial license in the e.u. expires by the end of december. profits that lufthansa have rocketed to the carrier reporting a two percent rise in on the line third quarter earnings before interest and tax now off he is
a cost cutting the group is back on the offensive but it's also keeping its feet on the ground sticking to its annual forecast. business is going up and germany's largest airline looked tonnes up in the summer the car increased ticket prices and its cargo unit is booming look tons of it was able to boost revenue thanks in part to sing creased market share following the acquisition of brussels airlines last year the carrier is also flying more people. in two thousand and sixteen look tons of flu some one hundred ten million passengers nearly two percent more than in two thousand and fifteen the growth didn't come from its flagship carrier but from its german subsidiary the budget airline euro wings still for the first time look tons of passenger numbers were overtaken by dublin based low cost carrier ryan air the german airline now plans to retake the top position from ryan air in europe with the tech whiz ation of a large chunk of rival air berlin and it's not stopping their loved ones are also
wants to apply a part of italy's largest carrier of the tahlia but untie trust authorities could spoil the party they will be reviewing whether look tons is gaining a monopoly position on too many routes. germany's largest land a dodge a bank has agreed to pay out a combined total of two hundred twenty eight million dollars to forty five states and the u.s. over its an edge manipulation of interbank lending rates the states investigation revealed that deutsche bank along with all the big banks including baucus and inflated the libel write that rate is used to work out how much banks should charge each other for boring money has already agreed to fines of two and a half billion dollars with federal authorities in the u.s. and in the u.k. the bank says the payouts agreed to today close the case. well time to check in with wall street now our financial correspondent james quarter is standing by yang's case closed seemingly deutscher and banks in the u.s.
have to be breathing a sigh of relief today off the senate kill that ruling to make it easier to see banks tell us more about that there was a little help of vice president of my. senate voted against the proposal from former president barack obama that would have made it easier for consumers to file a class action suit against the finance a huge. vote of senate all that is missing is the signature of the u.s. president donald. pretty likely to happen any time soon it is seen as the biggest regulatory victory for the financial industry since the new administration took over if you look at the financial stocks overall they have been on fire in the past couple of months and even if that is seen as good news at
least for big financial institutions stock in that area it didn't move that much here on wednesday but as i said so financial stocks saw an incredible increase in the past couple of months absolutely quite a coup for the banks now the markets definitely not as chirpy as they were yesterday seems that some of those quarterly earnings out just not managing to convince. there well maybe it's a little bit of buy on the rumor and sell on the facts because we've got a couple of big companies earnings boeing coca-cola the chip company advanced micro devices that actually the numbers were pretty solid came in more or less in line but still results heavy selling advanced micro devices for example losing thirteen percent in value but that stock in comparison to last year has more than doubled also boeing on the rise and that stock was the biggest loser in the dow jones
industrial average so even if we got used to it what we contest a new record every single day now the focus is on thursday when the first big tech companies will be coming out where their earnings microsoft intel amazon just to name a few absolutely and whatever goes up has to come down as well so some stability is welcome to in new york thank you very much now for most of us a spain and that driverless car is still a way off in the future but a ride in a driverless boss well for that you just need to get yourself to a bus stop in a small town in the southern german region off the area the first driverless boss in germany has taken it to the streets there and it's free. this tiny vehicle is cutting edge technology the first glance that may be hard to believe but it's the first travel espouse operating in public ruled in germany it's being tested on the streets but then by a small bavarian town two hours from munich. here in the countryside and where
there's a lack of the what about transportation i really believe that we need to have a service that's efficient sustainable under fordable like he was on and at the same time environmentally friendly. going to an image on. the bus is free to the public and maybe with reason it's slow moving at just fifteen kilometers per hour but riders probably have time to spare the short truett connects the city center with. all right a vision or a mirage saudi arabia is planning to build a mega city in the desert no oil will not be pumping through the heart of this metropolis only alternative energies robo robots trains and driverless cars will dominate in the price tag but we're talking about a rather cool off a trillion u.s. dollars. if constructed as planned the saudi megacity neon
will be the largest building site on earth covering more than twenty six thousand square kilometers that's an area of land half the size of switzerland it'll go up on the coast of the red sea not far from the hundreds of ships that had for the suez canal every year ten percent of the world's exports pass through the waterway saudi arabia wants to be a new global center for trade crossroads between asia africa and europe trade is just one of nine economic sectors planned for the city the saudis also want to draw companies from the fields of transport robotics biotech food science internet technology and energy with little for the difference between it and a city of today is going to be like the difference between these two phones. to be attractive for foreign investors and staff the country's strict islamic based laws will not apply within the city's limits neon will have its own systems and
regulations separate from the rest of saudi arabia men and women for example will be allowed to work together it's an ambitious plan but throwing money at it is no guarantee of success there are still many vacancies and a similar giant project the king abdullah economic city. and dubai is plans for a large carbon neutral urban center said they are still reliant on conventional energy sources for many of its power needs the new mega city is also supposed to be powered solely by renewable energy saudi arabia says it plans to finish by twenty thirty five. that's a year out today with the latest from the world of business and more find us on facebook on twitter. by now.
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