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tv   Business  Deutsche Welle  July 27, 2019 5:02am-5:16am CEST

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a broken promise from the white house tax cuts and increased spending had supposedly propelled growth to 3 percent in 2018 but a recount shows it missed the mark. also on the show the u.s. justice department approves the merger of t.v. while and sprint bringing together the 3rd and 4th largest wireless operators on a global race to build super fast 5 jeannot for. talk about temporary housing revisit workers now living in camper van communities close 3rd jobs. this is v.w. business. and in berlin welcome u.s. growth failed to live up to donald trump's promises of
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a 3 percent gain last year the government says the world's biggest economy grew more slowly in 2018 than previously thought the commerce department downgraded its estimate from 3 percent to 2.5 percent the overall trajectory is upwards and consumer spending is buoyant but lower spending on buildings equipment and software led to a downgrade analysts believe the trade war with china created uncertainty. and it's probably doing so still joining me now in the studio is our business reporter clifford coonan and our man on the markets. welcome to you both now what's on the east let's start with the u.s. so trump has argued that his tax cuts and increased spending would be enough to propel growth to the 3 percent mark but that hasn't happened that surely must be a disappointment for him no. disappointing indeed but he will
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probably not take any of the blame and keep pointing fingers had to put our reserve on it's a monetary policy that said after $1.00 trillion dollar tax cuts that we. as a consumption which is a 2 thirds of the u.s. economy was not as strong as initially thought actually consumer spending peaked in the 2nd quarter of last year and you see rated sharply in the final 3 months of 2013 only to gain back some real steam in the 2nd quarter of the year also did downward revisions that largely reflected downgrades to business investment suggesting corporations likely not to use the demand from the touchpad to invest back into their businesses but to increase programs and actually have been a key engine for stock market performance here in the united states and a way for corporations to increase their earnings per share and bottom lines. policies didn't appear to have worked the way they were supposed to then clifford
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let's turn to you you've covered china for many years and we know for a fact that uncertainty over the trade war is one of the things that weighed on the economy what do you think these afresh growth figures will how do you think that they will impact a future u.s. china trade policy from here on when i think a lot depends on as we've just been saying that whether trump takes the blame so to speak for us and whether he's prepared to concede that the trade war is actually weighing on sentiment weighing on the u.s. economy we've seen that it's had an impact on the chinese economy because it's definitely slowing down a lot of that is down to the trade war so i think it becomes a question about how the 2 sides view the overall impact and how each side plays it out on whether the americans in particular see this as a factor in the economic growth. now they will have that meeting next week that meeting between the u.s. and china is negotiators in shanghai what do you think will happen well i think
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their meeting in shanghai which is kind of significant itself we've just seen a new growth market opening there a growth stock market so there's going to certain symbolism about it being in shanghai rather than in beijing showing there's going to be a business like approach i don't think we've been sort of already told not to expect too much from the talks that they're going to recess where they left off in may when the talks broke down in the meantime quite a lot has happened but we haven't really seen that much in terms of concrete developments so i think they're going to try and get to know each other again a little bit and then maybe look at these 2 sides and see what direction they want to trade talks to go but the political aspect is still very very strong both on the chinese side which doesn't want to show any weakness on the u.s. side which is very keen similar you know to show weakness and also to try and lord its economic strength over the chinese it would appear then that the needle hasn't moved very much jose luis turning to you know if these trade off is still ities do
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persis what interventions do you think washington is going to turn to domestically . we already saw you know how into 2nd quarter of these year just as those in negotiations go public spending from the federal government increased 7.9 percent ministration is also paying farmers hurt by china around 16000000000 dollars to help them deal with that situation so more help should be respected if. trying to just notice moments ago china tries to delay did a deal until the u.s. had presidential election next year also we will probably see a $25.00 basis points rate cut from the federal reserve next week with the markets expecting at least and all their one before the year and this will ease a financial conditions for to dollar laurie cut low director of the national economic council ruled out any currency intervention by these possibility is not entirely out of the table just yet moments ago as we said just said that the
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chinese currency is too low and euro not doing so well. clifford coonan and the sooty it with me and luis in new york thank you both very much for your insights. the u.s. department of justice has approved the $26000000000.00 merger of sprint and t. mobile america is the 3rd and 4th largest wireless providers but the deal still faces an uphill battle and then fears of job cuts and higher prices for consumers. if the merger between t. mobile usa with rival sprint does go ahead it would establish a powerful new telecoms joined in the united states parent company dr telecom has got the market shares of competitors verizon and a t.n.t. firmly in its sights the new company would have $127000000.00 customers with an equal sales of $76000000000.00. just say the merger could generate cost savings of
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some $6000000000.00 per year to prevent the new giant entity from dominating the market for justice department is forcing t. mobile and sprint to divest some divisions to cable t.v. provider dish and to allow dish to establish itself as a mobile phone operator by allowing it access to their networks for 7 years however even that come to spell some lingering doubts about the deals approval the federal communications commission is yet to approve the merger and several states have filed lawsuits against the plan they feel less competition and higher prices for subscribers now to some of the other global business stories making new. french wine imports could become more expensive for americans if u.s. president donald trump gets his way the president has threatened to retaliate against a new french taxes on u.s. tech giants for their sales there and he once again suggested that higher tariffs on french wine could be the price. u.s.
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microblogging and social networking service twitter added 5000000 new users in the 2nd quarter of the year its biggest jump in 2 years that helped it book a stronger than expected revenue of 841000000 dollars the social network has now turned a profit per 7 straight quarters. amazon is working hard to increase profit and to do that it needs workers they should be flexible and not too costly in the u.s. it's now become quite a trend for workers to camp in vans close to warehouses of online giants the w's all over sell it reports. the recreational the hey kill the r.v. a symbol of freedom. home is wherever you take it and were ever work may take you.
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to. a campground near an amazon warehouse in hebrew on kentucky is home to a round it doesn't work camp purse it's 2 pm time to get up for robert barker he works the night shift. with morning good morning robert how you doing and. how was your shift it was great ok yeah easy money man you know basically robert you have your whole life inside that van yeah i've been living in my van for 6 years now. working seasonal work for amazon and i've done some also i've worked a job in alaska salmon cannery have worked there and beat harvest and. amazon has been really good to me and it's really easy money and allows me the freedom to do what i want. robert is $46.00 he has no partner no children and very few expenses amazon pace's camp side has health insurance and $15.00 an hour when he
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works managing customer returns it's a temporary contract for a couple of months. the cantar family lives next to robert. over ivan 3 to our new. 80 year old ivan cantor is the oldest employ yet amazon's hebrew and warehouse he and his wife law reign burke to top up their pensions and they say to have a better life personally i need a home base ah but. that the for me to get out travel to and this gives us the opportunity to do that. more financial security but you have to hit the road to get it perhaps not everyone's dream but it seems to work for some. in a lot of criticism about amazon and concern about what the growing online tree industry would mean for work environments of the united states but one thing seems
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to be clear though the work tempers in kentucky up one helping with the lifestyle a job. well my camper van is parked outside and that's it for me and the w. business team thank you so much for watching.
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the true. knowledge. of the market. in germany. your business magazine on g.w. . is you know a 1000000 minutes. of a mother's cynical media may see in us all up with dollar but i. don't want it what i'm focused on in the seat of what i'm what i'm going to hear
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and of course a term of this you know i mean when you're not in a scene going. on a moment to notice. the number and unanimous. the show could go because i see a variety of sort of. pressure. put on i've only said but i couric a number of the reinventing. point 0.0 conceived so. this is state of the news africa coming up in the next 15 minutes the islamic movement in nigeria some of the group's members have been killed after police fired live ammunition just because they've purchased enough but themselves to keep demonstrating. glued to the bureau lived in dollars from just protests in 40 government to respect the law of this law. and the local hero in the gallows
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bad we'll meet the kenyan mad who's providing free school transport for children with disabilities into bare.


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