tv Business Deutsche Welle November 25, 2019 2:45pm-3:00pm CET
to the economy caused by the protests and its violence oppression becomes clear. this is business. as welcome markets across the region region got off to a good start into the week hong kong extraneous surged 1.5 percent following a big win for pro-democracy candidates in local elections shares got another boost on news that beijing offered an olive branch in the long running china u.s. try talks over the weekend beijing announced it would hike penalties on violations of intellectual property rights the ip issue has been a major sticking point for the u.s. in the talks an agreement on it is seen as a key to their success. south korea is hosting a meeting of leaders president moon j in welcomed heads of governments of the southeast asian group to the summit it's being held to celebrate 30 years of cooperation between the un and sold no one has unveiled
a new southern policy that aims to boost economic cooperation with the un as well as india the aim is to counter the negative effects of the ongoing us china trade dispute. french luxury goods giant v.m. h. has clinched the takeover of u.s. jeweler tiffany the takeover is a win for both companies many analysts say tiffany has been trailing rivals in sales growth in recent years and made hopes to deal with the deal will boost its presence in the united states the mh is owned by francis richest man on the its fashion division includes prestigious brands like of its own christiane the or and cancel its watches and jewelry section comprises buggery and tag hoyer the image is also represented in wines and spirits by way shown dawud is also active in the hotel business the $16200000000.00 deal will be mages. biggest acquisition
today it's. a luxury brand as american as skyscrapers now to be taken over by l b m h a luxury group so european that most people have trouble pronouncing its full name u.s. jeweler tiffany is one of america's few luxury brands it's a bit old fashion and is looking to gain some credibility with a new generation of customers. paris based l d and h. believes it is just the owner to manage the transformation it owns a portfolio of $75.00 fashion houses and upmarket brands it tightly controls the image and distribution of a range of products to keep them profitable and aspirational l.v. and h. had revenues of nearly 48000000000 euros last year most of it from its leather and fashion division with brands like louis vitol and the your it's luxury department store holdings are nearly as big tiffany will fit into its watches and jewelry
division currently one of its smaller units. the mh says acquiring tiffany will transform its jewelry business and strengthen its presence in the united states as luxury shoppers in asia are hit by the global slowdown so. tiffany. marriage made in heaven let's bring in correspondent who is standing by only what's the what's the deal tell us about the state's. history. i think the luxury because industry is suffering along with a lot of other industries from the waning world economy and from all that uncertainty that is out there and that shows in the numbers tiffany's for example recording less spending by chinese tourists visiting new york city also many stores that i know here in frankfurt that sell luxury brands we also have
a tiffany in frankfurt here for example there are also heavily dependent on spending by foreign tourists. a marriage made in heaven i don't know usually a marriage you can only determine that once it's been there a few years it's certainly a marriage of necessity if you look at tiffany's fate within the past few years and i think i know the head of. the h. will depend on his business acura men to bring the brand up to speed he's known for toughness is known for unsentimentally slashing jobs might be tough for those tiffany people i've been in the tiffany store myself in new york you won't want to touch that it really is an icon you get kind of a special feeling when you walk in the door not least because of that famous movie . in the thank you very much leave the box in frankfurt that.
now we have some other global business stories for you that are making headlines today has been refused a new license to operate in london transport regulators say their decision is based on safety concerns the right haven service has faced allegations elevations it's been putting passengers risk as well as opposition from drivers of the iconic london taxis. tesla has received nearly 150000 orders for its new electric pickup truck despite in a paris thing launched last week the much hyped unveiling went off script of the cyber trucks windows splinted twice by the long lost bragging about the strength of the glass tesla's share prize fell 6 percent after the launch. i was on is opening a pop up store on chinese e-commerce platform indoor door it will offer around 1000 overseas products i was in a struggle to gain a foothold in the world's 2nd largest economy it closed its marketplace there in
july e-commerce in china is dominated by homegrown players are they bob and j.d. called. more than $100.00 people died in protests against fuel price hikes across iran according to amnesty international iranian authorities say about a $1000.00 demonstrators were arrested tehran restores the internet after a weeklong government shutdown this the country's crisis becomes visible for iranian business it's time to take stock and pick up the pieces. the iranian government says 450 bank branches were destroyed in protests that hit more than 100 towns and cities with damage amounting to 700000000 euros the unrest was triggered by government imposed gasoline rationing and price hikes ordinary iranians especially young people vented their anger on the street. people filmed the protests and sent the pictures to their friends pictures that were not shown on
state television. thirty's responded by shutting off internet access abroad for days iran was offline to the rest of the world. bad for freedom of expression but also for the economy as one official admitted to do some businesses have lost profits as a result of cutting off the internet a decision will be made in compensation for their losses after the current situation is over. but for many iranians living conditions have been worsening steadily in recent years so much so that fresh protests can't be ruled out. in terms of our livelihood our income has not changed at all you know. and i mean i'm against it our costs of tripled or quadrupled which puts people under serious pressure. especially the working class.
people are under a lot of economic pressure. and if it continues like this it will be really hard to manage the cost of living. in the time you know has in our mouths on wall emotionally. compounding the pressure is the recent slump in the real the government has taken measures to prop up the currency but for oil revenues are down due to punishing u.s. sanctions it's a downward spiral from which there seems to be no whisking. let's bring in dr borenstein she's with the german chambres of industry and commerce in iran you've just returned from tehran for a visit to germany everyday life ordinary people become unbearable now it's not unbearable because you know iranian people are very creative and very patient with regard to their situation but if you look at the figures it's really hard chip
right now so we have inflation rates from round about 40 percent we have currency which decreased during the last year for let's say. 2 times so we started in last year one euro for 60000000 today b. or one euro 425000000 so that the currency has lost its birth and it's. really hard for people. to stand their life. does the embargo the regime of course says it's a conspiracy from a foreign before and the powers but the embargo seems to have a real effect on the average people yes now. we can say frankly the embargo works it hits the economy really hard 1st line because of. oil sales which is forbidden right now so iran is not able to earn money from from its
oil sales and as i told you the inflation is going up they currencies going down so it's really for iranian people hard to to do their leaving but on the other hand iranians are really creative in finding their base through told more creative you said earlier when we spoke that the iranian economy is very much dependent on the internet. and this internet shutdown now for a week was basically i think was designed to help quell the protests what damage has it done it's a really big damage experts estimate that $61000000.00 a day is lost iranian economy though that's really heavy and iran has a lot of you know lot of online trait though you have more than 5000
startups in iran very very active very life least start ups for example you have you know everybody knows. in iran snap and it's very thing as fat as birth so it's really it's really a big topic for it rain for iran. thank you very much. and that's all from your business for now if you want more hamas check all the websites that stay w dot com slash business and coming up next there's the news just off to the quick look at global markets what the fed.
if they're attacked they fight back. it seems a rather unfair fight clamps against an enemy rather dangerous. enemy scheming remarkably well. i'll give a good. today. 90 minutes full loaf. i'm not laughing at that i guess sometimes i am but i said nothing which is that the mistakes they consider german culture of looking at the stereotypes the question to me is think this leaves the country that i now know i'm playing. need to see if they can describe one day out to me it's all about. my job join me to meet the jetman sunday w. . post. every journey begins with the 1st step and
every language the 1st word alone can be called nico in germany to germany. why not learn a little. bit simple online on your mobile and free. t.w. zingy learning course. german may be easy. welcome to the put is the game here for the. troops to talk about. the coverage. 3 more points. plus people we have played her let's have a look at some of the other much around the league still shaking in their boots the green a sigh of relief so you don't want to. lose touch with. w . live.
play. play play play. play. this is news live from berlin a spectacular high says one of the world's oldest museums break into the royal palace in the german city of dresden and make off with treasures and jewels worth as much as europe's. also coming up hong kong's leader vows to listen humbly to voters after they send a clear message to beijing produce.
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