Come to your business i want to get jones and berlin good to have you with us and as the political fall go around to bricks it thickens in london the impact of the uncertainty on business continues to be felt not just in britain germanys export led economy is feeling the pinch in the 2nd quarter 29000 german exports dropped by a whopping 21 percent compared with the previous quarter that is the biggest quarter on quarter drop since the financial crisis a decade ago germanys britains largest source of imports accounting for around 15 percent. But having said that the biggest Economic Impact by far would be felt in britain a new study by the United Nations found some alarming figures. After another dramatic night in westminster on wednesday the protests over break that will likely continue in london for weeks and months to come some want the u. K. To leave the e. U. Without a deal some dont want brags of to happen at all. But most economic analyses on the subject point to the chaos that are no deal breakers that would bring in a new study the un conference on trade and development has warned of the consequences. In case of for no deal. Exports of the u. K. Will be mainly affected in with regards to the European Union we are estimated this is a conservative estimate that the exports to the e. U. Will drop by 7 percent since around 16000000000. 00. Its not only trade with the e. U. That will be hit when it leaves the e. U. The u. K. Will no longer benefit from several existing e. U. Trade agreements such as those with canada japan and mexico which will affect many sectors. I think there are a couple of sectors where automobile sectors is one of them are Food Products beef for example would be also affected. As well but more obvious will be one of the most affected sectors. In case of far. As said the u. K. Is car industry is a serious risk the industry socalled just in time Production System is dependent on various carrots moving across borders with a minimum of fuss and no deal brags it could take a wrecking ball to the system risking thousands of jobs. Yet as the current d. Day of october 31st looms ever closer no one can say for certain what will happen at the u. K. s borders in a weeks time. The worlds biggest retailer wal not says it will stop selling some types of ammunition including any bullets that can be used in assault weapons on time guns the move follows a string of Mass Shootings including at one of its stores in texas that left 22 did. Walmart has been under pressure to change its policy on gun sales it has already stopped selling assault rifles and raise the minimum age to buy guns to 21. 00. Thats a huge step in the right direction theres just way too many shootings i have 2 boys sound richard in there you know there that thats crazy to me that so many people can get hurt. You cant go anywhere these days and. The company is trying to balance the interests of its gone owning customers and growing safety concerns among its clear intel walmart will now focus on weapons for hunting it will continue to sell long barrel hunting rifles and shotguns and related ammunition the National Rifle association has called walmarts new gun policy shameful and said it would hit sales. Right now walmart has around one 5th of market share of ammunition sales. Walmarts chief Doug Mcmillan says changes to ammunition policies will reduce its market share to between 6 percent and 9 percent. And walmart will request the customers no longer openly carry guns into its 4700 us stores even in states where open carry is legal the retailer took action following the death of 22 people in a mass shooting in a Walmart Store in El Paso Texas as well as deadly shootings in ohio and in midland and odessa texas. Today germanys most controversial tax case is going on trial it involves 2 British Investment bankers who are accused both as defendants as well as the main witnesses in the case which centers around socalled complex trading schemes and educate defrauding the country of around 440000000. 00 euros in tax money the coolmax trades are equity deals investors rely on the sale of borrow chairs right before a given firm is slated to pay dividends and that scheme resulted in double tax reclaims for share trade us over the years it became big business some even call it europes biggest tax fraud scheme of the total loss for europe could to be around 55000000000. 00 euros according to the Journalistic Research network correct if with germany losing an estimated 32000000000 euro zone todays trial could just be the beginning of a very long court case around 200 people are also being investigated according to media reports so for more lets bring in our financial correspondent whos standing by for us in frankfurt and there he is only 1st of all could you clarify for us are we talking about a crime here are combe x. Trading schemes legal or illegal. Well the prosecutors seem to think so and its up to the court to decide that when i look at what these people did and what other people did and other cases that have yet to come to trial it certainly looks like it was illegal at least they should have known that they were doing something wrong and that they were cheating the state but its up to the court to prove this and indeed there was a loophole in the law that made it seem as if they could get away with claiming that well we saw this loophole this was the law this is what we did it was ok its probably going to take a very long time to try this to put this trial through its terminated to january but it could go on longer and it could have go on to the highest courts in the land even up to the Constitutional Court if need be and right now we have to Investment Bankers there on trial but many more are involved do we know anything more about the others. Yes in other cases for example there are also investors involved who played along who bought into investment vehicles and were also prosecutors claim they should have known about that their lawyers involved and the prosecutors in cologne who are prosecuting this also believe that the doj rebels with its Settlement Unit clear stream also was involved in some way there have been 2 searches the last one just last week in this particular case there are 5 names 2 from the private bank warburg a very respected old money type of brain can hamburg a bank of new york mellon Societe Generale with Mutual Investment Fund units and also hamburg Capital Management company and the interesting thing of course is also that that that comics trading scheme took place between 20112000 or 2006 in 2011 now its 29 t. What took authorities so long. Well i think one of the reasons is because the perpetrators were so clever there. Its ambiguity in the law and the Financial Supervisory Authority has a kind of a mandate and a kind of staffing that not did not really making a big help in this case and also the prosecutors there woefully understaffed thats been changed a little bit in the past but the indictment reads 600 pages in this case alone thats will be a condensation of millions of bits of data and i do believe its the reporting for us from the fact that Stock Exchange on the x. Trial starting today in germany thank you so much. And it could be the start of a new era of driving im not talking about electric cars a dutch startup recently unveiled a prototype of what they say is the 1st couple of taking os long distances powered only by the sun with a price tag of 140000 euros the light one is not exactly a bargain but it saves you tons of money at the pump. The netherlands is banking on the sun for its energy needs cycle tracks and roads are already equipped with solar panels the latest development is mounting solar panels on cars start a light year is launching an attack on no less a giant than us electric car maker tesla and like its american role model the company made its cars launch a media spectacular with not a trace of modesty a car to save the planet no less. What began with a bunch of students has transformed speedily into a company with over 100 employees and theyre driven by more than merely making money. To motivate the by the gods that were that were theres striving for and thats in the end through make electric cars more scalable and therefore pick one the entire world so they do it partly of course through to pay for their families and thats all Everybody Needs to do that but the extra motivation i think comes from working at a project that has this huge impact we were allowed to film work on the prototype in light years workshop thats not a given in view of the cutthroat global competition especially from asia this is a car fueled primarily by solar power and really has to be plugged in for recharge far more eco friendly than current generation electric and hybrid automobiles. One is expected to get from amsterdam to berlin without a reach at least on sunny days. Development costs of reach 60000000 euro those with funding coming from a variety of source. Their investments is partly formed from private individuals so investors basically is partly from from subsidies from the states from the European Union and partly from our customers that already put a car that they will receive in the future and they already bade us because theyre very a very excited to be one of the 1st to. Receive the car reserving one will set you back 119000 euros with a final price tag of 140008 can be suck it charged but in daytime solar panels provide the juice to keep it rolling while others drop to a halt thats a big reason why people dont buy an electric car yet and if you give them. An alternative card i would work in a place where the infrastructure is not so not so widespread i think thats thats a very good way to do interviews those people as well to electric cars and make it feasible for them it still has to show it can survive normal Road Conditions and can be mass produced but will like one save the planet well it could perhaps lead to the demise of quite a few petrol pumps. And thats your Business Update on. Im scared that the war that hard and in the end is a me your not a lot of the year and more we will send you that. Are you familiar with this. With the smugglers were liars. Whats your story. Ready and what numbers and women especially of victims of violence. Take part and send us your story we are trying in all with to understand this new culture. Another villa turn other guests you want to become a citizen. In for migrants your platform for a while information. Hello and welcome to news from the world of ops and culture and today its books all the way starting with a look at the star studded nominations for this years booker prize also coming up. A brand new you tube channel for all you book. Called d w books. And disturbing revelations in a book called promise me youll shoot yourself that suicides of ordinary germans and the end of the 6. Bucks we begin with the nominations for the prestigious booker prize one of the most important prizes in literary well this year names like Salman Rushdie a Margaret Atwood on the list and im joined by man of letters David Leavitts to take us through this and an impressive list statement it isnt actually in some ways but listed self is more exciting than even the winner because a lot of people theyve got now theyre reading list for the next year until the next list comes out these are the 6 novels that theyre going to be reading this year and of course the most anticipated novel of the year the testaments by Margaret Atwood the queen of dystopian fiction you guess she is and this book is not even out yet and its already on the list people have been waiting for this book for 34 years this is the sequel to her mask
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