Transcripts For DW Business 20240713

The fall of the berlin wall nov 9th on d. W. The u. S. Deficit reaches heights last seen in 2012 at almost one trillion dollars the Trump Administration is hoping a Strong Economy will make up for generous spending while others warn of dire consequences. Also on the program indonesian investigators released the report into the fatal lion air boeing 737 next disaster they blame the Plane Software along numerous other factors. And we follow the paris. Scooter patrol as it goes fishing in the center for electric scooters. Its time for business on the w m o you dont get us its good to have you with us the u. S. Treasury has announced that the countrys budget deficit sorts to almost a trillion dollars in the 2900 fiscal year thats a 26 percent jump from 2018 to Trump Administration has spent far more than its tax revenue because of the republican that tax cuts are taking advantage of a booming economy Government Spending grew twice as fast as tax revenues the u. S. Treasury secretary Steven Nugent said trumps economic agenda is working lawmakers fears the government is undermining fiscal just possibility. For more on the subject im now joined by the w. C. Financial correspondent on wall street. These deficit numbers definitely sound worrying at least how do they fit into Donald Trumps view of the u. S. Economy. Well i mean as long as the dollar remains the world currency the damage might be limited you have debt not to repay it but to make new debt and then repay the old debt or the interest but if you look at the overall trend there is no sign that we might see a reversal we rather see an increase of debt u. S. President donald trump plays around with the idea to actually texas again for the middle class by mid next year we have to wait and see if thats possible with congress and if you look at the Democratic Candidates for the presidency theyre talking about Free Health Care for everybody so that would also increase spending soul there is no real sign of any reversal when it comes to the huge debt load that the biggest economy in the world faces speaking of signs of the economy yes we saw a lot of corporate earnings throughout this week walk us through what we learned from those numbers now well we had some big hits but we also had some big misses especially when you look at companies that depend on trade or on business with china for example or also caterpillar were clear missis we had to ritter disappointing quite a bit that stock got tempered by more than 20 percent in the thursday session alone and then on the other side we had some tech names some intel for example coming in better than expected that stock was the biggest winner in the friday session gaining more than 8 percent and then the earnings flow continues next week with names like google or apple for instance by the way reached a new all time high here shortly before the weekend well keep us posted thank you very much from new york. Indonesian authorities released the official investigation into lion air flight 610 which crashed crashed about a year ago killing all 189 people on board one of the bestselling 77 s aircraft a deadly combination of design flaws inadequate training and maintenance problems led to the incident confirming previous versions that have caused a crisis at the playmaker. The lion air boeing 737 max plunged into the java sea only 13 minutes after taking off in jakarta. Now Indonesian Air accident investigators have found that a critical sense of providing data to the m cast like control system was wrongly calibrated during the repairs they also cited strong evidence that it wasnt tested during installation by a lion air engineering staff fed with false data the empty store system pushed the planes nose down leaving pilots fighting a losing battle to maintain control neither their training nor the aircraft manual included information about m. Cas. Investigators also addressed cockpit procedures. Were busy even. While theyre. Flying. In the. Boeing has issued a statement saying it is working to address all the reports recommendations to prevent similar Flight Control problems from recurring all 737 max 8 jets are grounded worldwide boeing is under intense pressure to explain all the problems associated with the Flight Control system that played the key role in the lion air crash and one in ethiopia 5 months later. And now to some of the other business stories were following for you the United Auto Workers Union Members have reportedly voted to accept a tentatively agreed settlement with General Motors management the agreement came after a bitter 6 week long strike involving 49000. 00 workers which cost g. M. An estimated 2000000000. 00. Facebook has a new news Service Called Facebook News its journalists will choose the headlines while an algorithm identify stories based on the users interests media sources will reportedly be paid fees for their stories there has been much media anger over tech giants that swallow advertising revenue while paying nothing for articles they post on their platforms. Trade unions in rome began a 24 hour strike on friday workers from more than a dozen city controlled Companies Including the public transport system are protesting against the mayor of virginia it argues management of the city about 240. 00 flights from rooms fuming cino airport where council. A month after over 5000. 00 tonnes of lubricants went up in flames at a wall chemicals plant french authorities and the owners lubrizol have agreed on compensation the regions farmers lost 40000000. 00 euros they were banned from selling their crops and animals after the blaze deposited masses of sued over local farm. As cities worldwide fight each other to become the next big startup hotspot rankings where li include dhaka thats the capital of bangladesh but maybe they should dhaka is home to one of the live li a startup scenes in asia except theres one problem for investors still have to discover it. This group is getting ready to shoot a video that will appear on the streaming service bongo. Everyone can give you good. Bongo is one of the most successful startups and bangladesh that provides entertainment and information aimed at bengali speakers its founders recognized the market was ripe for the service its already started paying off and theres plenty of room to expand to 300000000 people speak in bengali right now we have 75000000 people that are already attached we are in a team of superheroes to retrieve them meet the lie scooter patrol. Cast your hook out then reel it back in its a simple anglers principle the catch just has to be landed cases like this requires serious effort home and dry this time but it usually means wet feet. Like that one over there whether handlebars are stuck in the case its impossible for us to pull it out of the water practically impossible youve really got to get into the water turn the handlebars pull it out and then bring it up. Its a little bit this patrol hooked 15 scooters inside 3 hours theyll be overhauled and then set free again electric scooter angling might just turn out to be a recession proof profession. Maybe thats how startups fight unemployment thats all for this edition of the deadly business thank you very much for watching well see you next time or whenever you like on our website the next time. To counseling. Our theyre adapting to the climate crisis. Scientists are looking to the intelligence of plants to see what they can love. And that amazing ability. On g. W. To. Look for. Is opening its convenience and providing a 1000 the perspectives on our world. Even. Games are. Translated. Carefully. To suit your needs to do good. To discover the world. 11. Subscribe to the documentary on you tube. Welcome to tomorrow to day the Science Program on d w. They stand silent and still only staring occasionally in the brilliance. Of us theyll see it on their fruit or use their leaves and root