This is business. As. The head of the International Monetary fund has been urging the United States and china to set aside their differences on trade was in the god made the comments in paris at a gathering. Of ministers in france washington is accusing beijing of backsliding on its commitment to head off than expected trade deal this week slapping new tariffs on chinese goods just as a trade deal looked likely more uncertainty markets were employed by news that a chinese delegation would be headed To Washington for a final round of trade talks but then the u. S. Side revealed why President Trump had increased tariffs on billions of Dollars Worth of chinese goods accusing beijing of bad faith for the stewards of the World Economy the stakes could not be higher in paris i. M. F. Chief Christine Legarde issued a stark warning she said clearly that tensions between the United States and china
are the threat for the World Economy and frances Finance Minister said the uncertainty could be felt around the world. Global growth is slowing down the first reason why Global Growth is slowing as the risk of trade war. Commission is it would be a good one and i want to reiterate that my main concern the main french and european concerns. Remains the risk of a world Trade Conflict and war driven by the Trade Dispute between china and the United States it is a worrying prospect then that this week will end with a us China Trade Deal but with new tariffs and tensions. Were going to talk about this with an expert in a minute but first some other news the u. S. Has warned india not storyteller it against washingtons plans to end certain Trade Concessions for the south asian country Indian Officials are considering raising
import duties on some u. S. Goods if the white house proceeds with a plan to strap a scheme in place that allows indian goods worth about five point Six Billion Dollars to be imported duty free a proposal announced in march came off the president s Drum Priestley called on india to reduce Trade Barriers and plant and preferential trade with india has also faced a backlash within washington. The worlds biggest Beer Brewing Company on has a bush in bev is planning to sell shares in its asian operations multinational hopes the proceeds will help reduce its One Hundred Billion dollars of debts brewers active in more than One Hundred Fifty countries and its five hundred brands include upmarket brands like Budweiser Becks and corona which are becoming increasingly popular in asia one has a has a mash up of about fifteen percent in china alone on the say the i. P. O. Could bring in up to Fifty Billion Dollars before revenues well over eight percent
up front just under five billion dollars. And here are some of the other Business Headlines from today b. M. W. s First Quarter profits plunged as it has to pay a one point Four Billion Euro penalty related soon e. U. Probe over collusion in the Diesel Gate Scandal Comicon said the charge brought quarterly profits down to five or five hundred eighty eight Million Euros thats wrong seventy five percent less in the same period a year ago a month and warned investors that a big fine from the European Commission was likely brussels alleges b. M. W. Colluded to dima and folks to avoid competing on emissions control technology. Is dave the car and its two prosecutors have order. Germanys porsche to pay a five hundred thirty five million euro fine for exceeding pollution limits on its fleet of luxury had all its vehicles or spare and company for its v. W. Subsidiary audi had to pay similar fines for their role in v. W. Socalled eagle dates other times hes only administrative fines and a separate from ongoing criminal investigations scramble has so far cost b. W. More than Twenty Eight Billion euros in Penalties Buybacks and other costs. Now lets bring in our financial correspondent from frankfurt going to that those Collusion Charges against b. M. W. How is cappello now being applied to german carmakers. You know European Commission all the Competition Watchdogs of the e. U. Commission are saying that the comic has formed a Cartel By Discussing Industrial Standards for Diesel Engines and Petrol Engines and by negotiating what kind of industry to standards they want to promote that way the e. U. Commission says the car makers prevented innovation and thats how they form
a cuttle now margaret vest the commissions Competition Chief she says that this might be stretching the notion of cartel law a little that of course this doesnt fit with the traditional description of Price Cartels still she says this was a cartel and thats why the card makers have to pay that fine. Fines poles are also being fined also billion euros so far a german comic has had to pay big fines and settlements in the u. S. Is now pay day in europe. Certainly looks like it and quite obviously you know State Attorneys here in germany and also other legal institutions in europe have taken much more time than the americans to find out that there actually was a legal basis for criminal charges for a Damage Payments for the fine payments but i also have to say you know many of the
things that the car makers did before all the scandal that these all at the Admissions Cheating came out was not considered to be illegal here in europe all the authorities to authorities didnt really Pay Attention well early in the course of this scandal the authorities bit by bit found out that there was something criminal going on and that they actually should go after it. Cannot whos there in frankfurt for us thank you. Third turkish lira is nosediving again for the First Time Since october one the us dollar was worth more than six lira investors feel increasingly unsettled by the political situation in Turkey Country is also going through an economic crisis prices are rising and the general public is increasingly critical of president out of one who has now ordered a rerun of a municipal election in which he is a k. Party was defeated. In. The African National congress is on calls to win a sixth term as the governing party of south africa on wednesday thats despite the countrys struggling economy president obama who is expected to stay in office as promised to spark growth and decisively deal with the countrys twenty seven percent Unemployment Rate a statistic that translates to more than half of the countrys used being out of work. The African National congress is trying to secure a sixth consecutive term in africas most developed economy the candidate in the may eighth election Cyril Ramaphosa has promised a new dawn after a decade of decline which has seen South Africa Regress so fast that only countries
at war have fared worse. We are well into your we are. For first time voters like boy to milor. Who holds a degree in hydrology the prospects look bleak the country has just emerged from a recession and growth is only expected at one point five percent in twenty nineteen. Good to eat at last year and have been only employed for like five months now and why would i be avoided this year im still kind of but decided that. The stifling economic climate is strangling the private sector and many businesses like this Security Company staring down the threat of closure or bankruptcy. Given what. Basically everybody just turning over three times the first minute it really isnt in context coming through the ones that we do quote when we dont we
just dont get so in space in the last twelve months weve gone from having three percent considering going to keeping this one up and analysts argue a turnaround wont be easy in an economy with more citizens on State Welfare than taxpayers. For the past ten years the government under in the c. N. N. In the name of it has been focused not on growing the economy paying attention to Economic Issues all day looking at the state starting from the president. Unlike the first half of the room from ninety ninety four to Two Thousand And Seven i believe god. Is adamant that his lofty talkative One Hundred Billion dollars in Foreign Direct Investment over the next five years will set the country on a new trajectory. Beyond these elections the level of confidence in the Business Community will go high and they are telling me that as well so the best thing
a lot and what happens after the election and one. Big part of me would take all would be ever to walk in life more investment into our country your way. But itll be a challenge even for the man Nelson Mandela had hoped would succeed him. And we were trying to top story the most recent setback in trade talks between the u. S. And china was in the end of the i. M. F. Calling it the threat for World Economy now talking to stefan legan is an economist from the university of sundance was in stefan why is christine so worried Isnt This Just Donald Trump Playing Hardball just for the sake of a local audience that. Well i think both is true of course donald trump is already laying the groundwork for his twenty twenty president ial election campaign
but the reason Christine Lagarde and other economists are concerned about the impact is so far everything weve seen as an impact from this trade war or Trade Conflict has been in line with what we expected however the question the big question is what is the magnitude of the impact if that Trade Conflict escalates further and unfortunately or better fortunately we do not have an recent episode of Something Like that happening that is we do not have the data to clearly say what will happen if a country like the United States imposes tariffs on all of its imports from china and imposes terror of the magnitude of ten fifteen twenty five percent so we can simulate the fact in our models but theres a lot of uncertainty about whether or not these models properly reflect the impact of a major escalation of this Trade War Stephanie thank you very much. Pick
up the bowler but everything is still in progress. Even after the thirty last match of the industry dismissing the become german gems the ball of fire for europe the broke. Europe the big idea. Whats become of it. Look looks like tomorrow. Hoping for a Better Future isnt enough for a requires the courage. The mob. The european Elections Team may twenty sixth the moment d. W. Her first day of school in the
jungle. First listen to. Doris crane the moment arrives. Join during a turning on her journey back to Freedom League in our interactive documentary. The War On Terror returns home on d w dot com from wrong at times. Im not thinking that well i guess sometimes i am but i stand up and whip it out. Of thanks taken for german culture looking at the stereotypes question it is incomplete as a country that i dont. Mean to take it as grandmother they are to me its all that they know i might show join me to meet the japanese on the w
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