Around the world many countries mark labor day today a day for celebrate celebrating workers and their contribution to society and an opportunity for us to look out what it means to work in the u. S. It Isnt Labor Day but a fresh jobs report means markets have and employment surge on the mind. Also on the show theres nine to five and then theres nine nine six we need a pair of chinese tax workers seeking to shake up the countrys nine to nine to six day working week. And whos the author around here we look at a startup in berlin where nobody is now and thats how they wanted. Welcome to do business and thanks for joining us now most european markets were closed wednesday for labor day but in the u. S. Its Business As Usual the Federal Reserve seems ive taken that to heart its held
on to the status quo and left the key entering Interest Rate unchanged and what it calls a Patient Approach amid Conflict Thing Signals in the u. S. Economy the fed has been criticized by u. S. President trump who says a rate cut would be better for the economy meanwhile the u. S. Private sector added Two Hundred Seventy Five Thousand jobs in april more than the market expected but analysts warn the robust figure could be overstating the economy strength. He joins us now from wall street. Is the fed self described the Patient Approach likely to hit any snags given that the white houses push pushing for a more aggressive policy. Well actually there is talk here on wall street that The Next Step by the Federal Reserve actually might be a rate cut not imminent but maybe by the end of the year and that is in general surprising because overall we got
a pretty solid Economic News in the past couple of weeks and months so there is a certain sense that maybe all the criticism from a wide tulsa did have a certain even if the Federal Reserve says again and again that they are independent no signs of a Rate Increase at all sold The Next Step as i mentioned might be even to the downside interestingly enough wall street to trade a bit shaky here on the first day of the month losing a good one hundred points in value and as for the jobs report some are warning not to take that as an indicator of economic strength whats your take briefly if you can yes well it always depends how you look at it yes its not a Picture Perfect specially if you look at wage grows its not that great here in
the United States but on the other side you cant ignore the trend and the trend is certainly to the upside in the private sector we got about One Hundred Thousand jobs more created in april than expected so were almost talking full employment in the United States the economy grew at a three point two percent in the First Quarter much higher than the expected two and a half percent so overall the u. S. Economy does seem to be in pretty good shape at the moment and carter there on wall street for us thank you. Oil prices have been rising this year and relief doesnt look likely the us is tough stance on iran is also doing little to help Supply Buyers of iranian oil who have been accepted from us sanctions through a Waiver Program have just lost their special status. The first of may marks the end of waivers for irans eight biggest Oil Customers and this spells trouble what you ran the countrys Currency The Reaal has already lost two thirds of its value
against the u. S. Dollar in twenty nineteen and the i. M. F. Said they khana me it would shrink six percent this year before the latest u. S. Restriction will surprise iran says its determined to continue selling its oil. Because there is nobody can push iran out of the market even the us the biggest of them can do that they are nothing like using the us says it is working with saudi arabia and the United Arab Emirates countries that could raise production to fill the gap left by iranian oil but traders are still worried experts say oil prices could continue rising. In china young entrepreneurs are challenging the widespread culture of excessive overtime they want an end to what people called nine six working nine am to nine pm six days a week. They mention is a shanghai startup or develops Internet Encryption Tools but recently founders who
g. N. And his Girlfriend Cut who works as an advisor to the company have made headlines with a different issue they brought attention to chinas nine nine six phenomenon nine am to nine pm six days a week the normal Working Schedule For Tech Employees and a clear violation of chinas labor laws local police and local Labor Protection you know in addition to the always the rhetoric right the saying ok factory we know you guys want to be a force you want to force your employer you all work that no one thought up the Tech Industry before together yen and goo have written a piece of text that programmers can use in License Agreements it says that any company who violates labor laws loses the right to use the software and although both of them know it would be hard to enforce this they hope to bring attention to working conditions in the chinese Tech Industry. In the chinese internet their
initiative has sparked a heated debate one of the most prominent voices founder jake ma chinas most successful Internet Entrepreneur says that chinas economic miracle has been built on peoples willingness to work hard to the young he has an advice finding work is like finding a lover he says if you are truly in love you wont feel it time passing by for Startup Companies or ever there are less romantic questions to consider eating is working for a Venture Capital firm that invests in startups which are that it is very difficult for a startup in china to refuse working time if you spend less time to dramatically competitiveness or to be successful you need to be ahead of others question a shitty yen and qusay they are happy about the debate they have sparked but they are however careful not to be seen as political activists the tech sector has become a Showpiece Industry to chinas Government Companies enjoy creative freedoms but
the red lines are clear google says she was even surprised when a journalist started asking about politics the first question he asked me are you a leftist i i said i replied yes but this. Is. I who know nothing about. The new generation of chinese programmers and tech workers are carefully figuring out how to talk about their issues without inciting the government suspicion. Now they say its lonely at the top but one start up here in berlin about hardly an issue its done away with the idea of a Career Ladder stable scheduling or fixed pay structures and its not just its operations that are unique it sells among other things we can conduct. Begin condoms in colorful packaging as well as temp ons and sanitary napkins are
among the products offered by Horn On Paper the founders of autumn are tyler and philip z. For are still the Managing Directors but none of the companys sixteen employees have to take orders from them its even written in their contracts this is the man who will miss everything we do is basically what respectable Business People used to do by doing business with a conscience it works and its possible to be successful its just about redistribution were highly profitable even though we reinvest everything into creating value despite treating everyone fairly we still post millions of euros in sales. Last year sells rose to two point three Million Euros even though the office is almost empty this morning nobody knows when the others are coming and nobody checks bottom outside the says when employees love their jobs they dont have to be supervised like children. Ive never been so happy about a job its really Something Special and were all motivated were happy to go to
work and everybodys glad to get up in the morning thats what we have here. From the designer to the person processing online orders einhorn says satisfied employees are part of its success. But theres another reason. Is that the importance of that has to do with what the owners say we dont have to get seventy five to eighty percent of the pie we just want the share we deserve and share the rest with the time a Salary Committee determines pay levels according to professional experience and education. It also decides how much the founders are in. This decision is. Its important for the Salary Committee to always keep the team in mind so everyone feels theyre being treated fairly. But of course it has to take each individual into account as well and. That requires a lot of coordination working without a boss can be
a challenge. Thats just going to feel you can really run free and have a lot of Creative Ideas but you are responsible for implementing them the best way to do that is by inspiring the whole team with your enthusiasm and sometimes thats not at all easy. Some employees in a special unit speak at events about the new work culture but while Many Companies just talk about what working will look like in the future at einhorn they are already trying it out. And before we let you go to a story about someone who just lost his job britains defense secretary Gavin Williamson has been fired over allegedly leaking information to the press about chinese tax supplier while way he said it to reveal details on a National SecurityCouncil Discussion regarding wall weighs participation in the u. K. s five g. Network but williamson denies the allegation of the Ministers Stocking comes amid a discussion of cost the new countries as to whether working with huawei put ashore
in Cyber Security risks. And thats it from me and the Business Team and berlin for more Business News and features you can always visit d. W. Dot com slash business thanks for watching. T. V. Percent of americans at some point in our lives will experience hardship listen. Whats the connection between bread. And the European Union you know youre about to go to correspondent. Added baker can stretch this second line with the rules set by the team. Tots. Smelting recipes for success strategy that make a difference. Baking bread on d w. B only order is history the world is Reworking Noising itself and the medias role in these kids shifting powers the topic in focus at the Global Media Forum twenty