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tv   Business - News  Deutsche Welle  July 27, 2018 5:02am-5:16am CEST

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turning out their differences off to months of tariffs and threats u.s. president trump and european commission president juncus seem to agree to work towards free trade across the atlantic analysts say when it comes to a deal the devil remains in the detail though. when posts are coming out the biggest fanfare free traders had in months the bric summit wraps up with the leaders of brazil russia india china and south africa all vowing to fight protectionism. and facebook makes history again with the biggest ever one day stock loss in u.s. market history. this is your business update on how an arm framed glad you could join me it's not quite a deal yet more like a truce but there's still a sense of relief in europe after u.s. president donald trump and european commission president. agreed to try to take the heat out of the transatlantic trade around the german economy misstating the talks
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as a breakthrough that could avoid a trade war and save millions of jobs the french government adopted a more cautious tone saying any deal must be limited and to benefit both sides. the victory lap has begun in the farm state of iowa u.s. president donald trump celebrated his new trade deal. i mean basically we opened up europe and that's going to be a great thing for europe and it's good it's really going to be a great thing for us and it's going to be a really great thing for a farm. before trump and younger appeared in front of the press on wednesday business groups and members of trump's own republican party urged the president to avoid a trade war with results. so beings instead of card tariffs following their wins the conversation your promise trump the e.u. wouldn't. for more u.s.
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soybeans and american natural gas trump in turn talked of lowering trade barriers it's a deal at the expense of others however trade flows will be rerouted meaning less purchase from china brazil or african countries. and that's exactly what sparked discussion at the w t o meeting thursday evening. the u.s. representative had a few things to explain to his chinese counterpart. for now it seems economic peace has broken out between the e.u. and us but a single tweet could up and did all. the skepticism there's skepticism given the loss of trust over the past few months maybe even years we really hope yesterday's agreement will be adhered to. it's a chance for europe to catch its breath but the insecurity remains. let's bring in our washington correspondent now constant fun naaman ed cost and of course this is a significant development but experience teaches us that the u.s.
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president can tear up any deal so should we treat this with some caution. absolutely i think it's more of a truce than an actual piece and also a lot of things are not clear yet this deal so far is just words for instance when it comes to saudi beans it's not clear how the e.u. will actually manage to make sure that the europeans buy more soybeans because how can they force the european consumers or companies to buy that stuff with liquefied natural gas also some technical conditions have to be fulfilled first and then when it comes to the negotiations about reduced tariffs and other trade barriers this is as we've just heard a long and complicated process the question is was on a trump have the patience to do that and also the tariffs on steel and aluminum
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by the americans and the countermeasures by the europeans are still in place and then of course if donald trump is in a bad mood he might destroy everything that has been achieved with just one tree so i would be very cautious right proceed with caution but nevertheless there was some relief that he felt he in the european union said what about the reaction from american companies and industry how are they taking this latest development. also cautious the relieved the dollar jones was up on thursday probably partly due to a reaction to that meeting in the white house but clearly american industry and also in particular farmers of very much relief they were worried that this might turn into a full blown trade war and that has led the republican party trumps party to be worried because there was a lack of enthusiasm among a constituency that normally is the bases of the republican party in rural areas
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and so they point pressure on trump so in the way of course the european union did goods to stand united but also young cope was lucky that this was a good timing and trump was ready to declare victory and move on our correspondent cost and fun and naaman in washington thank you constance well the concept of free trade was fan fed in the bric summit in south africa and leaders of the brics nations signed a declaration stating that the signatories want quote an open and inclusive multilateral trading system as envisioned by the world trade organization but critics say political and economic self interest play the leaders of the five brics emerging economies immortalized their hand prints in clay they'll be put on display in south africa's creating the human kind to see him play the oldest find of human bones and also exhibit it. it's an image that says we act
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for the good of all nations that's also the message that declaration carries denouncing customs duties isolation and protectionism and promoting an open world economy. we must work together at the united nations the g twenty and the world trade organization to safeguard the rule based multilateral trading regime promote trade and investment globalization and facilitation and rejects protectionism outright this statement from china's head of state was met with a loss of approval but at the same time china itself has been accused of closing off its market to foreign goods it's known for copying products promoting its exports and giving preference to domestic companies when awarding contracts. one hundred twenty billion dollars wiped off the value of a company in just one day it can be rough on the markets and thursday proved
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a tough day for none other than a facebook as a company shares fell as much as twenty percent and it's not just the biggest drop in the company's history it's the biggest ever one day loss for any company trading in the united states and one reason is facebook's we can an expected growth partly due to the effect of data privacy scandals the tech giants costs also continue to rise as the social network says it's focusing on tightening security and improving content financial correspondent and score to ease on wall street yen certainly a tough day for facebook how's it looking now. you know there's quite some understand and understatement it has clearly been a day for the record books here in wall street some history at the end of the day facebook stock lost about nineteen percent in value meaning it burned around one hundred nineteen billion dollars in market capitalization just in one day and that
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surpassed the record that actually intel said in the year two thousand when that overall u. of the chip maker dropped by about ninety billion dollars back then when the dot com bubble clearly the numbers especially if we're looking ahead were now. to go to and then also use for example that for the first time ever. if a user numbers in europe for example declined to call some concerned here or concerns here on wall street. right yes go to for us on a wall street yan's thank you. and finally a cautionary tale of the perils affording for a fake news ninjas of course they're a big deal in japan for the city of i gather big money spin as well tens of thousands of tourists flock to the city's ninja festival every year but then a report on american radio station claimed the city is looking for a ninja before most for a new museum and with
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a huge salary to boot it turned out to be a hoax but want to be ninja still came in metro. authorities in city hall are still reeling from what happened to think new stories went viral stating the city was urgently looking for ninja performers for an annual salary of eighty five thousand us dollars e-mails faxes and letters arrived from all over the world as far as new york nepal and australia. they lived and all of the know we've had emails before from foreign people who wanted to visit the city as tourists. and i. think but i was surprised to receive inquiries about working as ninjas there. at least one hundred applications came in from fourteen different countries with more arriving every day. has now reacted and published a correction online in five languages it says there are no job vacancies for ninja
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performers and definitely not for that money. and local ninjas are also keen to put the record straight. there isn't any shortage of ninjas and the money is just a rumor. i mean i won't hire people who just want to make money only those who want to be dedicated professionals culture and tradition can only be passed to dedicated people. foreigners aren't allowed to be ninja performers but their welcome in this japanese city of warriors more than thirty thousand tourists came here last year and after all this unforseen attention there might be even more this year. that's a if you're up to date with the latest strong the world all business for more do head to our web site that is d w dot com find us on facebook photo was on twitter d.w. on the school business on there as well have been the see how free is it my handle
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right now has a look at the global markets thanks as ever for your company and c.c. .
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