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tv   Business  Deutsche Welle  August 2, 2019 8:30am-8:46am CEST

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projects around the world. music literature used to bring attention to shoppers and force to. community interactive content teaching the next generation. to touch it. using all channels available to stop people to take action and more determined to build something here for the next generation the ideas the environment series of global 3000 on t.w. and online. the talks over the terrorists up piling up again asian stock markets plunge as the u.s. announces another round of terrorists against china. also coming up with less than 100 days until the u.k. soon to leave the european union britain's new prime minister faces growing opposition to this brics it plans. to beat up your business i want to get johns in
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berlin good to have you with us on the week is ending just like it began with the u.s. china trade war now the chinese foreign minister wang he has criticized us present on its trans proposed tariff hike saying imposing tariffs is definitely not the right way to resolve the trade friction or trump said he would impose an additional 10 percent tariff on 300000000000 dollars worth of chinese imports starting on the 1st of september making a protracted strange war between the world's 2 largest economies ever more likely. u.s. president donald trump is ratcheting up the trade war with china and not just enough his latest move was announced in a tweet. he said on september the 1st the u.s. will put an additional tariff of 10 percent on the remaining $300000000000.00 of goods and products coming from china the u.s.
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has already impose tariffs on 250 $1000000000.00 in chinese imports from next month the total will be $550000000000.00 worth of imports so far china has retaliated with duties on $110000000000.00 worth of american goods beijing has also dismissed president trump's criticism that it broke a promise to buy more u.s. agricultural products however the president accusations keep coming we're stopping the theft of american jobs we're stopping there 1st of so many other things happening it looting intellectual property. they steal our intellectual property. chinese foreign minister wanganui said the new tariffs were unconstructive fans no way to go about solving a trade dispute that's dragged on for more than a year and a half now talks in shanghai earlier this week ended without progress further
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negotiations were planned for next month but that was before the white house's latest move. well let's bring in our financial markets correspondent panday at the frankfurt stock exchange good morning actually to us well the 2 sides have just finished trade talks in shanghai both say those talks were constructive apparently donald trump thinks otherwise. absolutely yes but the donald trump is unpredictable and there are reports that his trade negotiators are all but like ties and stephen you should advise against new tariffs but then from actually went ahead he seemingly frustrated china is backpedaling on promises to buy a model because your products and his trade negotiators will what is that that could do tatars could actually jeopardize the september 1 meeting with the trade negotiators from china as president xi president xi would not be very keen on
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sending a delegation at a time new type of skin well and of course i mean that's also bad news for business use chamber of commerce has warned that you terrorists will inflict pain on us companies and consume us how's business in europe preparing for the possibility of a tractate straight war. there is a lot of concern here in europe we already seen that the manufacturing activity is contracting foster space in 6 years companies especially in germany which i actually can see you were sent china as its biggest market in the hero hiring has slowed down and there are already more and more companies which are all paying for shorter working are words working weeks this was something they deployed last time in during the recession to actually recover from the recession global financial crisis way back in 20089 and there's also a lot of talk about cutting down your profit outlook including from chemical giant
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which actually cut its profit outlook last month right on day reporting from the front that stock exchange thank you so much and now to some of the other global business stories making the news. the trace factor between japan and south korea has escalated japan has removed south korea from its list of my favorite export partners so has protested the move which comes amid a dispute over japan's use of water time forced labor tokyo has already occurred tie take exports to south korea. american manufacturing activity has slowed for the 4th straight month hitting its lowest level in nearly 3 years according to the july survey from the institute for supply management that uses a blow for president donald trump who has promised to revive american manufacturing well back here in europe this week so britain's new prime minister boris johnson
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embark on a whistle stop tour of the u.k. but his brakes it plans found little resonance among u.k. leaders even in the region of wales which back in 2016 voted leaf in the brics referendum. wherever boris johnson rolls up he can be sure demonstrators will be waiting for him like here in northern ireland the hardest stage of his u.k. to the protesters reject checkpoints on the border between northern ireland which is part of the u.k. and he you member the republic of ireland they fear border controls could lead to a resurgence of sectarian violence johnson held talks with all parties but not all of them are happy and many fear britain will crash out of the e.u. without a deal. we set out very clearly that this would be catastrophic for the irish economy. for irish i've only heard for our society for our politics and for our peace accords. scotland is also unhappy with the events of the beginning of
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the week johnson got a very cool reception when he arrived in edinburgh the majority in scotland voted to remain in the european union. i think that is extremely dangerous for scotland indeed for the whole of the uki we know from the work we've done the impact that would have on jobs on the economy on our universities on almost every aspect of society in scotland it's a hard sell for the u.k. prime minister even in leave voting wales where everybody urgently wants to know which direction the country is taking what we will do is get ready for a. deal offerings and partners have the opportunity to do to do a deal it's up it's up to them. but we will also of course get ready for the altar this year and the great thing about coming out on top of the 31st is it in all the drift in the device and the uncertainty of the business and that's the key thing for us to minister paris johnson and his government are preparing for
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a worst case scenario bragg's it and they're spending a lot of money on it breaks that budget was doubled on thursday to over 4000000000 pounds that will be used to stockpile essentials like medicines in case of major hold ups in ports and the rail link through the channel tunnel. and hinting at the hardships to come the bank of england lowered its u.k. growth forecast for this year from one and a half percent to 1.3 percent. of course we know that leafleting wales has just embraced the liberal democrats in the byelection the liberal democrats standing for remain so sunny a turbulent week for britain and its new prime minister boris johnson i'm joined now by a whole this needing chief economist at the barron big bank good to have you with us this morning so we just heard the bank of england cut its so growth forecast for britain on the assumption that there will be a deal by 31st of october how likely is it that there won't be
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a deal by then well it was not very likely that there would be a deal whether we still have a chance for it but it seems actually more like taking together but i forget the hot press it all that we get interesting political developments in the u.k. which would although they wouldn't take the chance of perhaps no bricks it or a soft brick said they would also of course prolong the uncertainty and there are still some downside risks to these 4 costs from the bank to the right and those uncertainties costly financial markets don't like uncertainty business counted deal with uncertainty all of that is already eating into g.d.p. the government of british government has just announced this week that they will opt that no deal breaks that fund by another $2000000000.00 pounds so a hole in total is about $4000000000.00 pounds is that enough in order to cushion the fallout of an audi a brics it it would probably have hoped to cushion the immediate blow a little if there are more people at the ports to process exports and
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imports if there is more place to spock it is part of the lower east it would help but it doesn't really offset the huge negative economic consequences that the heartbreaks it would entail how would not paying the so-called to divorce bill those infamous 39000000000 pounds that the u.s. has pledged or. the london has pledged to pay the e.u. as as a member would that help to solve the financial problem the economic problem not at all i'm afraid of course u.k. has a legal obligations to the e.u. there is no way the u.k. can we dodge that we will remain close neighbors whatever happens and in any future negotiation when the u.k. wants something from the e.u. the e.u. would say oh you didn't pay your bill so before we start talking to you start to pay your bill hen's one way or the other the u.k. would simply have to meet and on its financial obligations to europe and of course the banking sector have to make big decisions
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a lot of them the big players have moved staff to the e.u. in order to be prepared do you know already where you will be on october the 31st oprah will be in milan the office and watch events. right there no meeting they're relaxed about whatever happens on the 31st of october a chief economist at bamberg brown thank you so much for your time. now if you have the feeling that nostalgia is making a comeback is more evidence you're right 40 years after the sony walkman hit the scene sales of compact cassette tapes at least in the united kingdom are at a record high some $36000.00 to cassettes have sold so far this year there are a surprise hit especially with younger music lovers looking to gift their friends with music and prefer more affordable tapes to vinyl records and it's also. new acts that are boosting sales take american singer billy
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8 he sold the most so far this year with the album when we all fall asleep where do we call home. well i hope you didn't fall asleep during this business update here on d w you can always check out the latest going online visiting us online on d w dot com business or follow us on social media will be back with the latest in 2 hours from now in the meantime have a cup of tea stay awake for me and the team the been there thanks for picking this company.
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6 making. raring to. go if there is any there product it's remember you have to find it between the alliance. streets.
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marched reality wait a 2nd. we want to hold a show called facts instead of make ideas should deliver us. from atlanta to reality to. cryptocurrency you are topics for live in an ever changing digital world let's start there digitize ation their shift. on d w. hello welcome to arts and culture news and german style and have been courting controversy in moscow more in a minute also coming out. facial recognition is everywhere but how is it affecting the aunt a new documentary investigates. and 2 islands close to venice famous
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for their colorful houses and they gloss blowing tradition. they are all the musters of self publicity and provocation but this time the headlines are positive guitarist's. crisper of german band ramstein kissed on stage in moscow in what is being seen as a protest against russian anti l g b t c 2 the band later posted a photo of the case on instagram with the caption russia. it has to be said it's not the 1st on the 2 guitarists of kissed on stage but of course it's of special significance in russia now the band have a huge following that so much saw that a russian cover band called radio tap or translate their songs into russian on a very successful themselves getting radio plays and their copycat.


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