Doris green the moment arrives. Join the ring on her journey back to freedom. You know were interested documentary. To bring you to returns home on d w dot com among its wings. Goodbye and that fellow e. C. V. Christine legarde the outgoing chief of the International Monetary fund gets one step closer to becoming europes top central banker. Also on the show it was the biggest tax fraud case in german history 2 british stockbrokers allegedly involved to have their day in court. This is v. W. Business im joined in in berlin welcome we begin in europe where a Key Committee within the European Parliament has backed former i. M. F. Chief Christine Lagarde bid to had the European Central bank while addressing your lawmakers she said she wants to keep Monetary Policy loose largely sticking to the playbook employed by the man still in the seat until november 1 mario draghi. A 1st impression of what the e. C. B. Is Monetary Policy could look like and Christine Lagarde who is set to take the helm in november the former i. M. F. Chief and french finance minister doesnt plan to rock the bolt. I therefore agree with the view of the governing council that a highly accommodative policy is warranted for a prolonged period of time in order to bring inflation back to the famous below but close to 2 percent that could potentially mean negative Interest Rates something banks arent happy about lawyer Interest Rates in europe have already made european banks less competitive than their u. S. Peers and thats a concern lagarde also raised at the confirmation hearing in brussels they are also some important questions on the arisan that Monetary Policy will need to address. First though the impact of unconventional policies continue to be net positive we need to be mindful of the negative effects and the potential side effects of those policies and we have to take the concerns of the people into account and thats not the only balancing act for the e. C. B. Future head she says Monetary Policy will also need to take into account the global economies headwinds including trade disputes and rising geopolitical risks. The u. S. Trade deficit gap sots largest drop in 5 months and narrowed by 2. 7 percent to 54000000000. 00 in july more cars medications aircraft and Oil Drilling Equipment sold abroad to help to get their chinese imports to the u. S. Also fell to their lowest level since april amid the trade war between the worlds top 2 economies but Analysts Expect the u. S. Is trade gap to widen again in the coming months amid weaker demand for American Manufacturing exports. Joins us now from new york the trade deficit has been a sore point for the white house is the fact that it has now shrunk in Donald Trumps policies have worked at least for a little while not really even if the trade deficit at least with china decreased a bit for the month off july both exports and imports to and from china drop but exports dropped a bit more than imports but overall if you look at the deficit between the 2 biggest economies on the world if you compare it to when u. S. President on a drum took office so this deficit is still about 10000000000. 00 higher on a monthly basis so that is still an increase of about 20 percent and then also if you look at the deficit to other nations that actually increased the deficit with countries like germany mexico or south korea no so overall the trade deficit in the United States states is still sky high so theres always a story behind the numbers but are there concerns about the expected weaker demand for american exports. Well i mean there is also actually some concern about the stronger u. S. Dollar so that could also have an impact on exports and if you look at the overall picture of the u. S. Economy so far still seems to be quite true or strong but that is not necessarily true with other countries and continents on the globe and therefore we could see a continuation of the trend that exports here from the u. S. Might drop but if you look at the reaction on wall street for instance even if we got those trade figures here on a wednesday the markets had a pretty strong showing of blue chips gaining by more than 200 points as long as the u. S. Consumer and that is the backbone of the u. S. Economy is doing well then the concerns are limited but well the big question is was all the trade disputes and so on and so forth if Companies Might stop bigger spending spigot projects and that could have an impact on the labor market that could have an impact on the u. S. Consumer and then were talking about more serious issues here in the United States and carter there for us for the view from wall street thank you very much the comeback scandal has been called the most complicated tax case trial a german court has ever seen now for simplicitys sake it involved claiming rebates on taxes paid on stock dividends except those taxes for never paid it was a widespread scheme that cost european treasuries billions of euros and lost tax revenue the 1st trial and the matter has now started. 2 british stuffed brokers have appeared before a court in bond charged with over 30 counts of tax evasion they are alleged to have been behind illegal tax rebate claims made in a system known as comics used to bankers alone allegedly swindled 440000000 euros from the german state the comic scheme relied on a lack of financial oversight during the day on which stocks were due for Dividend Payments several party sold share packets and hence ownership amongst themselves. Only one of the parties paid Capital Gains tax on the dividend. But all those who bought and sold the shares that day applied for a tax rebate as if they had paid the tax office granted the rebates because it had no way of connecting who owned the shares at any one time and who had paid the tax investment banks made huge profits facilitating the share sales it was apparently a widespread practice among stop brokers and not only in germany nonprofit Investigative Network t. V. Which uncovered the scheme says european governments have been defrauded of over 50000000000 euros in taxpayers money by the comics. Germany is the worst affected its estimated the country lost over 30000000000. 00 euros in tax revenues but france italy and denmark also lost billions. Mannheim University Economist christoper says the German Government should have spotted the comic scam years before it actually did. It didnt even notice it recurs thats the one thing and the 2nd is that it doesnt even know how much its been robbed of. Germany banned the practice in 2012 now the court has to decide if comex was a fraudulent scam or if it was nothing more than a creative use of tax loopholes the decision will have serious consequences for many banks if comics is ruled illegal theyll have to reimburse the tax or storage fees. Now to serve the other business stories. News. Googles a video site you tube will pay 170000000. 00 to settle us in new york state complaints that it collected data on children under 13 without their parents consent but critics doubt the penalty is harsh enough to go Parent Company alphabet made more than 30000000000. 00 in profit last year. Japanese car sales in south korea plummeted 57 percent in august from a year earlier hit by a consumer boycott of japanese vehicles amid a worsening diplomatic route between the countries to you with a south korean sales fell 59 percent while under motors sales tumbled 81 percent according to industry data. U. S. Department of justice officials of monitoring the carmaker have found no fresh violations of the compliance requirement u. S. Authorities have been monitoring the carmaker closely and admitted installing emission cheap devices on vehicles and 2017. German exports to the u. K. Drop by a whopping 21 percent in the 2nd quarter thats the biggest quarterly drop since the financial crisis a decade ago germany is britains largest source of imports accounting for round 15 per cent. The 28th World Economic forum in africa will be officially opened by south africas president Cyril Ramaphosa on thursday but the event is already being overshadowed by looting and beautiful big attacks against other africans living in south africa. Many african foreigners no longer feel safe in south africa these demonstrators wanted and to the violence against women in the country authorities have stepped up security at the venue for the World Economic forum the mood is tense but South African officials arent taking part in the press conferences and some participants want to talk about the attacks. I think it showed yes i think is shared especially as really iconic now there were having this meeting there are demonstrations about jennifer because tights and right outside the building i think it should be a focus point and their gender to sam participants the coals as full south africas problems are clear its inequality so i think its inequality which is just in tune few the anger which has led to the protests but the inequality also rising from the unemployment so theres a real challenge of unemployment and inequality so many people feel alive. And you feel that is a justice and fairness as well the. People the people that are rich. The time may come when the rich. People and. At the very structure of the Global Economy and people in this room where the Decision Makers structure their world. That means politicians of the World Economic forum may not be able to turn a blind eye to the attacks in africa. Thats it for me and the Business Team here and for more of a. Check out www dot com slash business thank you so much for watching. Tonight. What divides. Cooking the books trudging forced. What binds the continent to cancer. Cancers in stories of plunging the. Spotlight on people. 60 minutes d. W. The adventures of the famous naturalist and explorer. To celebrate the nixon though from him bones from 250. Marking all of for you to discovery. Expedition in boys. Dont. Want to see whats going on the knowledge of these emerged is that you know what you have to go to fight it. The sharp microscope that have been bent the doll there will come better and better and better over the years but we will have a bad fall for example of the viral infection of the bald molecular detail and therefore it will also be part of the fight and much more easily work to speculate about whats going on in the 50 i cant imagine that people in the fan because the cut much better and then reduce the number of cancer cases there is still for good the belief of much more fulfilling life because many people see this shortcomings called the fate thing cant be called direct at the large degree at all but they held it for a long appeared in their life. This is news africa coming up on the show and the siege in my geria South African businesses shut down and also be. As nigerians retaliates against zenith in johannesburg relations between the 2 nations on thin ice a few us mountain of a feather bottoms also coming up. At. The right. Get a bounce in the always back to school to find out how one leading nigeria is using downs