On w. Down the future from the book you are no one on the cheap world you can learn from local weve flown the coop exposing injustice global news that matters to good times. Bellowing c. E. O. Is forced to step back dennis mull over it resigns following a troubling year that sold the companys flocks of 737 mocks grinded offer to fight all class its also coming out. Tech titans be where he is planning a Digital Service those talks aimed as global tech giants like facebook will speak to our correspondent in nairobi. On the thought is expecting ive been nonstop for christmas. But what about the items that dont jump on the christmas tree. This is business offer caught on tape ferguson welcome boeing c. E. O. Dennis mullen burke has stepped down the aircraft manufacturer faced multiple setbacks this year including industrial scandals after 2 fatal crashes of boeings 737 mox jetliner an inquiry reveals major problems with Regulatory Oversight of the companys operations will impact departure is Effective Immediately hell be replaced by chairman david cole whom the company says it needs to restore confidence and repair relationships with regulators customers and other stakeholders now for more on this lets go to his financial correspondent gets caught up on wall street against thanks for joining us why is this happening now. The pressure was clearly mounting on dennis. From clients or from the airlines for instance they complained that Dennis Mellon burke was giving folsom statements when the 73. 8 planes are allowed to fly again there was also a lot of pressure and a call for resignation from the victims families and then also he started to get a tough time with this story to use putting too much pressure on regulators by the end of the day wall street was not really surprised that she had to step down the question was not if but when they were actually on wall street its quite obvious the stock of boeing is gaining about 3 percent intraday session so much needed shake up there what do we know about mon briggs replacement though david calhoun. Well what we do know about david cohen is hes somehow a fixer when companies are in trouble he was heading the Engine Division of General Electric when 911 happened and the Airline Industry overall got into quite some crisis then and 2017 he became chairman of the board of pillar when there was a suspicion of a possible takes fraud was that companys so he seems to be able to deal with troubled companies and i guess thats also one reason why wall street likes whats happening with the shift now at the helm of boeing yeah thank you for that analysis 10 year could soon become the 1st country in africa to talks multinationals like facebook and amazon for earnings generated in the country its part of a raft of new measures included in the governments finance act aimed at broadening the tax nest the levy would also affect Companies Like write hailing sort of a super that offer Additional Services both front and india have introduced similar taxes in the past. And to find out what all of this means lets go to joy to ring in barrow in nairobi hi joy good to see you how would this new digital tox actually work. So what the kin your Revenue Authority is trying to do is collect data of all the digital firms or digital platforms and then be able to determine how much tax they can get from them as they already being taxed but this is only withholding tax which is majorly remey to 2 countries where these digital platforms originate and give an example of what has its headquarters in the United States so it becomes a bit difficult for the can you have any authority to determine how much tax is going to come from them and so by collecting this data theyre able to determine how much tax each of these platforms should be paying and you mentioned there of course thats only one of several multinationals that could be affected have there been any reaction from any of the others. Who has been this has definitely sparked some conversation because from the time that the president signed this into law that was in november of this year we have seen many digital platforms actually come out and say that theyre not so sure how this is going to happen because as it is most of the digital platforms are not regulated in any way and so these going to have to be some sort of regulation before we can now have the taxation regime coming in and to know that happens i think were not going to see this starts coming into force maybe in the middle of next year that is when were likely to see it come into force so i tary in nairobi thanks so much french president to modify my call is on a 3 day visit to west africa where regional leaders have a nice reforms to their currency this the f. A. A. Frank originally tied to the french franc the move has been seen as a severing of old colonial ties. In a landmark move the west African Monetary Union severed some of the financial links with powers that have underpinned the regions common currency since its creation soon after world war 2 mccaul president of france the west african regions former colonial power discussed the c. F. A. Currency with desire of ricos counterparts. In abidjan. Through for. This reform represents a big step in our will to make our region an integrated and dynamic economic space and a source of prosperity. To see if a phone call be renamed the echo it will remain pegged to the euro but Currency Union members wont have to keep the reserves in the french treasury and there will no longer be a french representative on the board because of the reform drew a line under colonial relics of the past so that the sick thats not the century thats being built today and i believe that for our 2 countries and for the relationship between the african continent and france its a balance partnership. To see if a fault is currently used in 14 west and Central African nations. Fire stairs climbed to a 14 month high today the rally comes after the Us Government backed the company and its appeal against a judgement that linked the farms wheat killer ranta to cancer the Environmental Protection agency says the product which contains life doesnt cause cancer had been alleged this supports bias argument that only evacuations have the authority to friends cancer warning labels some experts say the reversal of the decision as a signal that other claims could also face hurdles. Earlier we asked our correspondent in frankfurt only box what the u. S. Governments support means for fire. It is important moral support for bayer especially in the light of the discussion in the Public Domain but the government or the agency cannot be seen as impartial and so the courts are not obliged to follow their support to follow this intervention the same thing is being celebrated though in the Financial Markets the share is soaring but having said that its nowhere near where it was before concerns over the effects of the weed killer for the Buyer Company emerged talks on the settlement are ongoing theyre going at high speed expert lawyers are at this and people ive talked to here who have done similar settlements but not in the buyer case but in other cases say theres a good chance that a settlement could be reached costing by your billions but not an existential threat in the end a successful. China is to lower import tariffs on more than 850 types of products ranging from frozen pork to computer on phone components from january the move follows a full in the countrys trade dispute with the United States it also comes amid slowing growth in the country and a push to boost consumption. Compared to other years 29000 has been sluggish for the chinese economy and beijing appears to be determined to change that starting january 2020 china plans to lower tariffs on more than 850. 00 products including fish and frozen pork beijings latest move is not linked to the ongoing trade truce with washington but more so the shortage of chinas most popular meat pork thousands of pigs have been culled as a result of an outbreak of african swine fever the tariff reduction will help with the pork shortage while also stimulating domestic consumption amid slowing growth in the 3rd quarter of this year chinas economy only grew 6 percent on the year that its slowest pace in decades the country has maintained growth rates above 6. 5 percent over the last 5 years but that is set to change this year and some Analysts Expect an even lower rate in 2020 that may have given reason for the Chinese Government to intervene to lower prices for imported goods will also be welcome news to chinese consumers earlier this year amazon sells 175000000 products during its prime day sale its just one indication of the size of the online retailers turnover and it provides some context for this next story about what the company does with products that dont sell. And Amazon Fulfillment Center in vinson in the german state of lower saxony. Environmental activists with the ngo greenpeace shared images and documents with a german broadcaster showing new products being destroyed truckloads of unsold items are being transported to an incinerator several times a week this is and its a slap in the face for climate protection each of these products contains valuable resources which are simply destroyed it is cheaper for amazon to empty its shelves like that than to recycle something. I was on doesnt dispute that new products are being dumped there mostly 3rd party goods that cannot be sold says the ecommerce giant in a statement for us this is the last and least attractive option environmentally and economically. The German Government has recognised the problem with the departments of the environment as well as the economy are planning to take action you use the and steps he she seems that the practice of destroying on sells products is used on a much bigger scale than we had before. But theres not a lot of reliable data. And thats why were proposing a new law to ensure more transparency and to get a better overview of whats effectively being destroyed and how much. The government reportedly plans to make it mandatory for companies to have a duty of care for their products so that goods are no longer destroyed for economic reasons. For me on the Business Team here in berlin you can get more on our website thats detail things dot com slash business you can also find us on facebook on twitter for me its goodbye and take after. The producers. Have defeated me thanks. Richard clarke more about the car for. A forgot how to hook up. With. Something. This is the news africa coming up in the next 15 minutes the strong women of the d r c a rape survivor whos become an activist for women and a business woman is a weapon of war in congo where fighting rages over the countrys natural resources. Also ill show the man putting africa on the map
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