tv Business - News Deutsche Welle January 25, 2018 6:02am-6:16am CET
european leaders take this center stage on the second day of the world economic forum in davos switzerland the king of spain called for european unity and cast his vote for free trade and an open european economy. and of the forum is about the future well let the youth have a say we'll take a look at w.t.f. participants thirty and under the. sun for business on d w m how you know to get us welcome on the second day of the world economic forum europe was in the spotlight leaders like angela merkel in madrid mccall and the king of spain addressed the davos crew and made it clear that a challenging times for the e.u. there's still a common base. european heads of government were met by bright sunshine in davos on wednesday it seemed to underline their optimism they say europe has recovered from its economic crisis and is doing well germany france italy and spain are united in their push for globalization and against protectionism. we believe
we have to cooperate and that protectionism is not the right answer. and we believe that if we share the opinion that things are not being done fairly and the mechanisms aren't reciprocal then we should look for motive that are a solutions and not unilaterally. when this when you look at the. chancellor merkel's italian counterpart gentle loney is even more explicit about u.s. president donald trump's policies i could say italy first why not but that the end of the day what we need is if we have if we want to have economic growth and welfare and protection for our workers what we need here is an economic environment really function those will have but for gentle loney that means open markets free trade and no protectionism.
a lot of people in davos are really interested to see how donald trump responds to such straightforward remarks in his own address on friday. and another remarkable speech today was by french president emmanuel mccormack france is back was his message putting his country first but only together with his european allies just after the speech our correspondent in davos because of corba caught up with vanna horia president of the european investment bank and asked him for his reaction. i'm so more than impressed i know him and i call him from from a time long long before he was a minister and i must say the way he developed over a month from all of a sudden the french leader then after a couple of months the european leader and now he has brought himself in the position of the global leader it's amazing and it's very very encouraging for europe all in all this was a very good day for europe anyway we saw amount of their cause saying francis back
he wanted to promote business obviously but he also wanted europe to move forward with a set of reforms which one was the most striking to you both i mean the announcement from his back was very credible but at the same time he could have said also europe is back because i go back to the last ten or so davos meetings where the rest of the world looks a little bit of the sympathy on those poor europeans because they couldn't get their act together and this is the first time that we are here in davos and the europeans are really having a good show earlier today earlier on wednesday the german chancellor spoke as well calling for more multilateralism more called operation working together how does this fit in with amount of them across the two european leaders that are being watched most in these days that fits perfectly and that is necessary because we see that we are challenged by the big power poles in this world that has states and china and if the europeans do not respond to that with
a common common voice then we will get lost in the globalization and this new approach towards an active globalization policy expressed both by. a minimum of call was what we really need now the majority of the topics at the world economic forum are related to the future so it makes sense to invite young people to take part in davos so called global shapers aged thirty and under participate in discussions about all sorts of topics including the future of europe. a brief moment to enjoy the view and then off she goes to the next appointment twenty four year old italian clara latina isn't dabbles to take part in discussions as is and as a twenty six year old tech entrepreneur from germany thirty year old greek daisy cutter . is currently debating the rejuvenation of europe. i expect from. a shared responsibility. to allow
the youth assists and shaping its future to hear the voice of heroes and to go through their election. for a better tomorrow for all of us more a night it more together and more creative all three are passionate europeans. we have common values. theme that we are you know i'm unique. parts of having different language or really. we harbor a place where we peace is important and human rights are respected. but there could be a big a shared sense of europe. i believe we could have a stronger sense of belonging in europe like what you have in the u.s. when i lived many people had a much stronger connection to their country and that's not something we have in
europe even less so in germany i believe the sense of feeling european isn't really there. and the future of europe. may be different cultures should be taken more into account because greek has a specific certain skills three culture it's a different from the italians from the swedish people so. her chair on the difference this should be taken into making process and should be respected. the debate in europe goes on and these young people here to contribute to it. to corporate news now in u.s. chip making giant qualcomm will have to pay a close to a billion euros an anti-trust penalties to the european union the e.u. as competition commission or m i got into fest august said qualcomm paid apple to
use its chips exclusively in its i phones and i pads that means the company illegally excluded rivals from the market for l.t.e. baseband chipsets for at least five years ensuring its own market don its. and more troubles at general electric ahead it posted a whopping ten billion dollar loss in a five percent decline in revenue last quarter the poor performance was driven by a fifteen billion dollars charge g.e. took to cover miscalculations made by an insurance you announced that last week the u.s. securities and exchange commission is investigating the error that leaves shareholders to fret even more about the massive corporation already facing severe challenges in its power capital and transportation divisions. wonder discuss these two topics with our financial correspondent on wall street yes yes good to see you going to start with general electric we know restructuring is always difficult but this
sounds all really really bad does anyone still believe in the future of g.e. . it is incredible what happened to the former giant in the past couple of years the loss of the nine point six billion dollars just in the. quarter and the new c.e.o. john flynn reed he admitted that it will take time to fix a general electric they will for course a bit more on the health care industry on the aviation business but it is going to take time and if we solve what for example happened to the power business of g.e. a profit drop of eighty eight percent meant the stock once again was by far the biggest loser in the dull jones industrial average and also the question is what did the board members do all year round so we can expect some changes there as well so a lot of work ahead for general electric now he had such talk about the other headline we had the qualcomm fined by the european union how big
a hit will this be for the company because it seems nowadays that every processor and the biggest smartphones is from them. and that's interesting part let's say they're called did not pay other company. makers of smartphones and such as they also use the technology from they have a very strong market position and it's not uncommon that. started to investigate or come up with charges if a company like quiet calm has such power in the market but qualcomm itself said that they might be going into appealed so the last word is not spoken and then also the penalty even could have been higher saw at least investors on wall street who are not too concerned and we only saw a small drop in the stock price of qualcomm here on wednesday thank you very much scott in new york. and before we go you know the old problem with big
infrastructure projects like roads or train station they're almost never finished on time here in berlin we've been waiting for an airport for twelve years well that doesn't happen in china apparently where a rail track was built overnight take a look at this. six thirty pm construction began. fifteen hundred twenty three dick is what nonstop throughout the night laying trucks and installing signals. divided into you know. seven groups what's on different tossed similar until the section was complete in just less than nine hours it's part of a two hundred fifty kilometer breach that will connect the south east of the country with central china that should be an operation by the end of a good. book called that teamwork and speaking of teams we have a big one in davos covering all things world economic forum for you so stay tuned
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