Correspondents. And why watches the world over have seen in the beaujolais day but u. S. Targets are tainting the taste of this years fresh french tipple. This is the day when your business im rob walks in berlin welcome along one of the biggest names in global still is facing the worst crisis in its history germanys to some crop has posted a loss of 3 100000000. 00 euros for the past Financial Year thats 5 times more than 12 months ago the companys c. E. O. Has called on shareholders to be patient as it tries to desperately its fortunes around. Peson crops flagship steel plant they are pioneering the use of hydrogen instead of coal in a Blast Furnace to make steel its a world 1st a significant step towards making production greener and boosting innovation. Change is high on the agenda just in crop for so long the symbol of german industrial muscle. The Company Reported a loss of 304000000 euros in the last Financial Year. C. E. O. Martina metz are shareholders to help patients with th
And you know what its time no voice is part. Of the 77 percent he told me to shoot stuff. This is where. The 77 percent this weekend on d w. Europes biggest luxury group puts a ring on it leaves a ton Parent Company l. V. To age buys American Icon tiffany for a chunk of cash so is that a match made in heaven well take a look. Also on the show a new debt relief measure could give millions of South African so much needed breathing room but could it also drive them into the arms of loan sharks. This is your deeds of the Business Report im Stephen Beardsley thanks for joining us french luxury goods giant. Age is set to purchase u. S. Jeweler tiffany analysts call the deal win for both companies tiffany has been trailing rivals in sales growth for years and age hopes the deal will boost its presence in the United States the 14700000000 euro deal will be l v m h s biggest acquisition to date a luxury brand as american as skyscrapers now to be taken over by l d m h a luxury group so european
Ricardo rakes it in. Helping the luxury group burbery grow and missing estimates in october as cnbc learns trade talks with the u. S. Has hit a snag and learning that canceling tariffs is an important preseason. Good morning and welcome to the show daimler has warned earnings in 2020 and 2021 will be negatively impacted by cost cutting plans a new strategy to stream line business and improve efficiency. It needs to, quote, significantly increase its financial strength at Mercedes Benz it plans to cut workers. Daimler is down 3. 3 volkswagen down, bmw down 0. 1 in france, renault down almost twothirds a percent and ferrari also performing negatively why do you think daimler is doing this looking around, all of the shares, they are all facing a lot of challenges. I dont think it is anything specific to daimler. I think they are all facing global trade uncertainty and steel factories where they might be underusing their capacity they have put a lot of money into r d for future technologie
The ride hailing firm uber has been in last ditch talks to extend its licence in london, after months of turmoil over its position in its largest european market. The companys full london licence was suspended in 2018, after concerns were raised about ubers policy on passenger protection and driver vetting. It also comes as uber battles huge losses and growing competition. In the us its biggest rival is lyft, though both firms are losing money. Latest results for lyft showed losses of 1i63m, compared to 1. 3 billion for uber. Thatis that is supposed to be 1 billion there at the bottom instead of1 million, so we will fix that graphic. Uber has also been investing in food delivery and autonomous cars, while lyft is concentrating on ride hailing. Meanwhile, French Company kapten was acquired by german car makers daimler and bmw. It now operates in the uk, france, portugal and switzerland, and plans to expand to 15 european cities by 2020. Estonian company bolt also has uber in its sights,
Will be solved as a whole in the near future. Maybe there will be a limited agreement between United States and china. Melt down in the steel sector shares plunge more than 10 as they lower their 2020 outlook. Fiat chrysler shares see red after they prepare for themes for a gm lawsuit welcome to the show, no deal this year. There are big barriers to a preliminary or phase one trade agreement which could push negotiations into 2020 talks have tumbled over beijings demand over tariffs and the u. S. Demanding over property rights. So i can tell you this. China would much rather make a trade deal than i would. Why havent they . Because i havent wanted to do it yet. Why havent you because i dont think theyve stepped up to the level i want the president toured the apple facility in austin, texas with tim cook. We have this report. Reporter the Unlikely Alliance between tim cook of apple and President Trump continued in austin as the president toured the facility where they manufacture Apple