tv Business Deutsche Welle November 21, 2019 11:30am-11:46am CET
world. they're under full power and boundless ambition of the middle east into a great crisis. by the principles of the cold starts nov 27th on d w. it was once the ultimate blue chip a titan of german industry but now steelmaker to syncro is in crisis and recent earnings figures don't seem to be pointing towards also coming up a free trade deal between the european union and singapore comes into effect linking the city state with the world's biggest market and in bolivia followers of alstead president morales even obstructing delivery traffic on main roads causing severe food and fuel shortage. disposable welcome to the program for centuries
its name has been synonymous with steel now germany's to some group is plowing deeper into difficulties the company posted a 300000000 euro last for the past fiscal year 5 times higher than the year before steel production has turned into a big problem for the steel giant too much susceptibility to economic swings too much fluctuation in revenue and too much cheap chinese competition stuck in the worst prices in its history the company is trying to find a way out. and do support germany steel recently launched a pioneering project the use of hydrogen in a splash furnish instead of the usual coal dust is part of just encrypts effort to acquire green creds by making its steel production more climate friendly it aims to reduce c o 2 emissions by at least 80 percent by 2050 but that requires investment and to.
group is undergoing the biggest crisis in its history the surge of cheap steel from china has marked recent years with losses and high debt the board is currently being restructured to say now plans to list all or part of its elevator division. elevator is one of the company's most profitable business areas analysts put its value at 12 to 17000000000 euros a number of potential buyers have reportedly joined forces to bid for it to citigroup says it intends to concentrate more on the steel business and streamlined it to be more profitable and that means cheaper production and it means layoffs at present to employees around $160000.00 people worldwide. i had let's bring in. our financial correspondent at the frankfurt stock exchange here conrad losses are mounting up this intro up and there's more pain ahead looking at the hefty restructuring plan how's that going down with investors. well share
price office and croup is down 10 percent because of course discerning reports is showing how desperate the company is for cash also another announcement made today that more job cuts might be happening in the future at his from coop more than the 6000 jobs or job cuts that the company had dissipated up until now that's not exactly stuff that investors are happy to hear but it sounds very vague it indicates that even the top executives of the company don't really know what to expect in the near future the general strategy of teeth and croup is something that most ad lists are. thinking is a good idea. is to become less of a conglomerate it should become simpler its product lines and services which also means for investors easier to understand alright then let's talk strategy here for
years the elevator production to some group has not only be the cash cow for the company but actually its lifeline what do you make of the plans to cash in on this business. well of course it shows how desperate the situation for the company is the elevator production was not only a cash cow it also was a permanent steady stream it provided a permanent and steady stream of revenues as you know by sourcing it out by. taking it and maybe even merging it with a competitor or even by selling a stake a large stake on the stock exchange to some groups executives giving up not only this cash cow but also the leadership of you know this important technology but that shows the situation is desperate and something. you know has to happen now to cross posting have to log. for the last fiscal year conduct was reporting from
the front of her stock exchange program thank you. the e.u. think of our free trade agreement goes into effect today now that the long awaited bilateral trade deal is operative the partners will begin to phase out trade barriers it is the e.u.'s 1st trade agreement with a member of the association of southeast asian nations or ozzy on a group of countries in the region that have teamed up 'd to promote economic growth of a deal aims to eliminate most terrorists within the next 5 years exceptions are some fisheries and farm products bilateral trade and goods alone between the e.u. and singapore stands at $53000000000.00 euros per year it's hoped the agreement will result in iraq of up to 10 percent in bilateral trade the e.u. is already singapore's most important export destination for services and singapore is one of the e.u.'s margin trading partners in southeast asia earlier i spoke to
kevin hyde nice he's a foreign trade expert at the association of german chambers of industry and commerce and i asked him why the world's biggest single market and a relatively small city state were so eager to link up. the morning well singapore is relatively small you're right when you look at the population of the size of the area of the land but if you look at trade in the if you look at the economy it's pretty significant the trade one with germany is for awfully around 15000000000 euros you can compare that for example to canada which is slightly larger than singapore but the trade value is similar so this significant for the area for the german economy ok so what significance does this deal have for german distances well german businesses get all the benefits that a trade agreement usually gets it gets lower tariffs that means lower costs for the companies less bureaucracy for example it also means that we have agreements on
emission of standards if you need to difficult to go into a specific country but it's also a good sign for international trade right now because we see almost daily new terror was coming up so it's a good sign for free trade and for would be straight ok by what sort of businesses are german companies linked with singapore and vice versa well this trade deal is pretty significant because there is already a lot of trade for example with their car industry or the machinery or if you look at renewable energies or even medical devices there is already a lot of trade and with this new trade agreement terrorists get even lower or eliminate it eliminated to 0 now in times of a us president that is very much into terrorists or just arab or terrors for that matter our priorities export oriented companies shifting towards asia even more well ajor is already very important that is clear but we see that the
countries in asia are getting more interconnected there's this d.p.p. the transpacific partnership with some southeast asian countries there's also the r c e p a big trade economic area including china that is developing and right now we have in. new agreement with vietnam the e.u. and vietnam that is to fight soon and maybe in the future there will be one agreement between the e.u. and the countries that was going to be my next question what do you what sort of stumbling blocks do you need do you see that need to be cleared in order for this deal with ozzy on to happen well that's still a long way right now we see in the moments that the german companies see more trade more protectionism on the rise so what the u.s. doing right now is we're doing bilateral agreements with many countries in many regions and we need to go step by step so that we have a straight in the wallet so that's the best for the drama companies trade between the european union and singapore comes into effect today of the association of
german chambers of industry and commerce helped us to break the story down thanks so much. let's look at some of the business stories making the news general motors says is seeking substantial damages from fia chrysler. lawsuit alleging its rival bribed union officials for years to corrupt the bargaining process g.m. says this cost billions of dollars prize he says the lawsuit will have no effect on its planned merger with. google says it will restrict the level to which election ads can target potential voters on its forms the search giant will no longer allow advertisers to target users based on political affiliation or public records however election ads will still be able to use data such as age gender and location 10 mexican citizens have sued u.s. retailer wal-mart over the august shooting at one of its stores in the u.s. border town of el paso
a mexican style in the attack the legal action says wal-mart's did not do enough to protect its customers wal-mart says it will respond in court. in bolivia fighting between the followers of ousted president. security forces has escalated 3 people were killed and many injured as opposition protesters blocked an important natural gas station at the city of alto amid the violence on the streets and the blockades fewer goods could be transported to the city people there are living and . as scored by the military and the police gas and petrol transports have resumed at long last residence here and are angry chanting we want gas the filling station where people go to buy cooking and heating gas was shut down for days by followers of ousted president evo morales. the access roads were blocked to fuel in the country is scarce those who want the precious gas have to
wait in the cold for a long time. people there may be desperate appeals to the pro demonstrators. just like humans please there are more than 2000 people queuing here and many more not only for us but for our children because they'll die of hunger please i want them to sell gas. and fuel isn't the only thing that scares anyone who wants to eat has to stand in long lines to this the last we've been standing here since 3 in the morning some people slept here to be at the front all for one chicken. for you . we used to have a good life we had everything we needed we wanted that way again now look at the lines we stand and the blockades everywhere. with food prices twice as high as normal many markets have decided to keep their doors shut.
and finally it is one of germany's largest infrastructure project and years and today traffic can roll across the hi i'm will sell bridge which will mean quicker road connections between the financial harbor frankfurt and destinations like amsterdam and brussels the bridge to 8 years to built critics say its boils the beauty of the wine region for others the 160 meter high bridge germany's 2nd highest is a marvel of modern architecture. i'd say so. thanks for watching.
are trying always to understand this new culture. are not a visitor. you want to become sitting. in for migrants your platform for reliable information. welcome to news from the world of arts and culture here's what's coming up today. british actress jane birkin tempestuous relationship with says gangs war and much more revealed in her memoir. and our intrepid baker and europe correspondent old massive baking bread from survive here which even has been here in the recipe.
but 1st a great deal of contemporary art is open to interpretation however nowadays museums around the world do offer audiogram ides or text placed next to the picture to give some sort of explanation as to what you're looking at a new exhibition at the pina could take them more then in munich called simply feelings features 100 works of art with no explanation and the artists remain anonymous the idea is to let the artworks alone feed your emotions. what does art do to us. how does it touch us. what does a picture inspiring us when the intuition guides our gaze is there a connection and how does it feel. this job or give a tough i think the way we look at art is always influenced by our individual perspectives and biog.