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tv   Business - News  Deutsche Welle  November 7, 2018 12:02am-12:16am CET

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the. crucial midterm elections in the u.s. are underway as americans go to the polls we take a look at how the german corporations are playing a role in campaigns and what they're hoping for in return. and as the world becomes increasingly digital war people are looking in the opposite direction they're going analog companies are now cashing in on a vintage revival. i'm stephen there's in berlin thanks for joining us there has been massive turnout for the u.s. midterm elections by determining the balance of power in the u.s. congress the vote stands to affect economic policy and investor confidence in the world's largest economy with global consequences. at stake as president donald trump's pro-business anti regulation agenda which could be hindered if democrats take at least one of the two houses currently under his party's control. let's go to wall street now before markets close our financial correspondent yens
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courts is there yet a big day in the u.s. with a lot at stake what's the feeling there. well the mood on wall street was good prior to the midterm elections and if history is a guide for a good reason we had. a midterm elections after world war two and each time in the twelve months after those midterms the market has been trading to the upside mostly quite substantially overall if we might see a split congress in the history that has not been better for wall street from the perspective of u.s. investors would be the worst outcome if democrats take both chambers meaning the house and senate because that could lead to more investigations into u.s. president donald trump and that could lead to some uncertainties the world all the mood. be there were also some other stories prices for example continuing to drop
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quite a bit and oil prices have been down by more than fifteen percent per cent in the past couple of weeks and now on a wednesday a two day meeting will start but probably nothing will change with monetary policy traders on wall street expect interest rate increase at their last meeting of the year and that is shortly before christmas but overall wall street could recover from some losses that we saw earlier in the past couple of trading days. porter with the outlook from new york thank you yes and. there's been a record amount of donations made in the run up to today's elections among those spending money seventeen german companies which have contributed to u.s. senate and house races and total german companies gave two point six million dollars for this election to candidates in both parties among the biggest donors
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are chemical company b a s f and telecommunications firm deutsche telekom with more than six hundred thousand dollars each contributions by pharmaceutical maker buyer clocked in at two hundred sixty thousand dollars. e.u. member states are divided on a proposal to place a three percent tax on big internet companies like google and facebook scandinavian countries and ireland fear the measure would make them less attractive for tech firms while others fear washington might retaliate still others want the measures approved by the end of the year and italy has said it will simply go ahead with its own digital tax if there's no e.u. agreement. the digital tax is a fraught issue in europe for taxing high tech firms like google facebook and amazon could help governments raise money some countries fear they could lose out especially if washington to tell us. of course there will be a reaction from united states which kind of reaction i do not know and of course we
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should decide for ourselves but we sure do think early on whether it is a good idea or not denmark says the u.s. retaliation could potentially offset the benefits of a tax ireland fears it could become less competitive the irish capital dublin is home to the european headquarters of several u.s. tech firms in germany the eel's biggest market is hoping for a broad agreement between e.u. member states by summer twenty twenty france on the other hand it's a term and to push through a proposal for an eagle like tax this year. when there is a will there reason the way. and there is a we've come from time for many countries to. call it direct t.v. . shows and teach about old e.u. countries have to agree before the law can be adopted and things don't look promising that's why it's really is putting pressure on brussels rome has said it
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will impose its own national digital tax if there's no e.u. consensus. we asked our frankfurt correspondent konrad booze and why italy of all nations is eager to move forward with the digital tax. you know italy desperately desperately needs money and it's popular to tax the large tech companies popular with voters that is many people in italy and not only in this country also here in germany are angry that the large tech firms pay so little tax on their income you know by seeking the most favorable legislation in terms of taxes and here in europe they find that for example an island or in luxembourg that's why countries like italy have come up with the idea to tax the revenues the sales the turn over all corporations this of course might be against internationally agreed rules for trading for taxing. corporate
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incomes and that's why the european union wants a common approach here. in their force in frankfurt the trade dispute between the u.s. and china is a drag on the world's two biggest economies and it's also pulling down global economies with it and that's according to the international monetary fund which despite efforts by china to continue its strong growth sees dark clouds. china's biggest city and financial nerve center shanghai more than three and a half thousand companies from around the world are here at the china international import explode but is it just a stroke of luck that the i.m.f. and world bank delegations are in the country at the same time china the world's biggest exporter is trying a new tack they want to ramp up future imports the chinese government unveiled its strategy at the expo we ate that she will continue to implement
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a pro at least kill policy and push for cutting taxes and fees meanwhile we'll optimize the business environment in order to further mobilize market players. to that in the government has been dismantling trade barriers and since the beginning of november reducing tariffs on many products in the first three quarters of the year john as imports climbed twenty percent to one point six trillion dollars so in the face but i.m.f. chief christine legarde warned that china's growth would slow through next year and into twenty twenty thanks to the trade conflict with the u.s. but she did give beijing some credit for important economic reforms and opening its markets. back to europe now a day after french tire manufacturer michelin announced it would close its factory in scotland because of bragg's that german auto parts supplier scheffler says it will scale back its own operations meet you in the u.k. in the next two years the company will shutter two of its three factories
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production will production from the close plants will be shifted to germany china south korea and the u.s. one reason for the move is that the bulk of shufflers u.k. production is exported to continental european markets. it began with the return of the vinyl record followed by other products like filter coffee makers and polaroid cameras around the world items that were almost extinct are now in high demand consumers increasingly want lasting durable things in a world of fleeting digital impressions retro has become a mass phenomenon and that means it's very good business. one instant camera. mic century fun. night but with threats to products from the past into month today. this company is located near hamburg sales have grown by twenty five percent in the last five years. yes keep up.
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digitize ation hasn't come abilities than on digital and on the contrary there's a strengthened awareness of non digital behavior in the age of digitized. so i doubt if you could tell you on monday people write more consciously they sit down and write a letter consciously or notes in a notebook it's highly seasonal teaching those who was in the teams pool even large companies like b.m.w. have jumped on the vintage bandwagon with sixty's and seventy's style motorcycles every tenth b.m.w. motorcycle sold is a retro model. almost as expensive as the motorcycles and extremely in demand furniture made in the mid twentieth century this cycle cost ten thousand euros is in the us and that's because it's a young going on a standard from the sixty's and seventy's was built differently much better in quality and it was glued an assembled differently the furniture was built for eternity. because. linda marshall likes to buy retro clothes she
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loves fashion from the twenty's what fascinates her about an era she never experienced herself. i mean we had discussed the macnow so to me this has a lot to do with enjoyment the enjoyment of design music dance one of the for a from the time back than. despite their style preferences the retro fans still say they feel happy in the present. police in bulgaria have raided a printing workshop that was making high quality counterfeit us notes during the operation officers used fake one hundred dollar bills in various stages of completion with a face value of more than one point three million dollars the inks used imitate the inks that were used imitate magnetic ink making the fortunate it's extremely difficult to recognize that's according to the interior ministry. three suspects were taken to custody thoughts be part of an organized crime ring just last month
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old carrion authorities dismantled another operation seizing fake euro and dollar notes worth more than for fourteen million dollars that's a for us thanks for joining us. on. the top. of the. time for an upgrade to.
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