China trade conflict donald trump placed the company on a blacklist in may which restricted access to u. S. Technology and to the american market. While way did not reveal what impact this band had on its bottom line. Kernan is following this story for us as we heard there while he was blacklisted until may so how telling are these as well i think theyre quite surprising given that we were expecting them to be a lot worse and the head of huawei the founder of himself warned it could hit 25. 00 make a 25000000000. 00 hole in the figures i think its yes we have weve had a few months before the before the blacklist came in on t. V. They did very well but its also signs that consumers kind of rallied around particularly in the home market rise and they and they really started buying weiwei phones talking about the domestic market is while way winning because its been managing to even market its own phones as the back and forwards on that black list and the phones that some consumers around the world can get their hands on yeah its actually managed to overtake the 4 main competitors the domestic competitors as well who are doing very well before this they seem to have really pulled out the stops on the marketing front and also in terms of marketing the companys brands theyve only theyve taken the blacklisting and almost use it as a badge of honor in terms of dealing with markets where the u. S. Might not be the most favored country and they seem to have played the game very very cleverly of course while ways and just about making devices its also got major 5 g. Contracts around the world and and thats something that u. S. Is trying to trying to put a stop to thats right i mean to 2 thirds of all the of all the contracts are going. For 500. 00 lost in the period which is astonishing amount so clearly this is a big growth area for them and all the warnings that President Trump was giving about the security risks and everything dont appear to about any of how much of an impact but what about further down the road because it sounds like its going to be business as usual this trade war is going to continue and executives that weiwei do sound jittery here. We do i mean i think the big problem for them has been. The fact that. We dont know what direction the trade war is going so until now theyve been presented as a National Champion the Chinese Market has been able to rally behind it but it does need the International Business and we still do have these warnings ringing in our ears about how they could hit the bottom line and indeed the executives themselves today warned that it could if they could be in line for some just difficulties even though they say theyre manageable but theres still difficulties and it wasnt always this way but it has become the one company at the center of this entire trade war yeah its kind of become the symbol almost of the trade war and i mean its not even that long ago since. Joe the c. F. O. And daughter of gen dont pay was arrested in common. With a view to extradite her to the u. S. Thats still to come weve got all these issues that are still dont resolved so even though its put in a very positive performance i so theres theres a lot of things ive standing that it needs to deal with lots of unknowns and who knows where this could lead cliff thank you very much for coming in. Well the flashy corporate results from weiwei come as top american and chinese trade officials made in shanghai trying to resolve their year long tariff conflicts but analysts dont see a quick fix u. S. President donald trump is taking to twitter warning china not to wait to do a trade deal he wrote my team is negotiating with them now but they always change the deal in the end to their benefit. After months of deadlock the u. S. Delegation has arrived in chinas Financial Capital shanghai trade representative robert light hisor and treasury secretary Steven Nugent are due to spend the next 2 days around a table with chinese vice premier trying to find a deal the 2 sides however are as far apart as ever the u. S. Is pushing for an end to unfair practices as donald trump likes to describe chinas economic policies these policies include billions of subsidies which keep chinese prices artificially low for its part china wants a deal where both sides make concessions. So far the u. S. Has imposed customs duties on chinese goods valued at 250000000000. 00 china has responded with tariffs on 110000000000. 00 worth of goods and all 360000000000. 00 worth of merchandise is affected by the trade dispute to avoid further escalation and chinese president xi jinping agreed to a form of cease fire at the osaka g 20 in june however heading into this round of talks there is little sign of agreement from either side. We spoke to china expert Richard Mcgregor and i asked him how likely it is that china will back down. I think theyre settling in now for a long trade war theyre not nearly as exposed to the us as the market as they once were theyre not nearly as reliant on export exports as they once were about i think china is hurting its Chinese Private companies which the exporters are hurting most china sort of premie our Technology Company our way is also under a lot of pressure but i dont think china thinks it will get much by giving away a way to the u. S. So theyre really settling in for a long term battle turkish finance minister bet on iraq says he expects schopper Interest Rate cuts from the central bank in fame such moves will bring down inflation many investors worry about the independence of Turkey Central Bank finance minister is the son in law of president richard thai a better one whos pushed for lower Interest Rates to jumpstart the economy alast say lowering Interest Rates to fight inflation makes little sense in turkish lira weaken slightly after about ox comments. By a has revealed its now facing over 18000 legal cases in the u. S. Over a hope a side thats alleged to cause cancer it was a risk the German Chemicals firm talk when buying its american rival monsanto which produces the weed killer now biases its unlikely to achieve this years profit goal. Its been the subject of protests around the world in recent years the heaviside life is eightys causing by a major headache but thousands of people in the u. S. Say the effect of the chemical for them has been even worse a wave of lawsuits has fallen on buyers since its 63000000000. 00 takeover of monsanto the maker of weed killer round of which contains klein for sight in the 1st handful of those cases to go to court juries found in favor of those who claim the chemical gave them cancer and awarded them huge compensation payouts despite riaa saying theres no Scientific Evidence linking lifes a top with the disease just last week a 2000000000 dollar award to a Californian Company was reduced by more than 95 percent by a judge to set the jury had overstepped the mark but with further compensation awards in the millions likely by may have to brace itself financial figures published on tuesday show a 50 percent drop in profits for the 2nd quarter of this year fire is suffering as a result of trade conflicts and farm flooding in the u. S. Even before that lifes a pals again. Lets bring in our toss funday our financial correspondent in frankfurt to talk about by a bracing itself now by is always argued the other would be a good long term bad is it just going to be a case of riding out the storm. Well ben in dag is by i would be hoping that this job losses by sooner rather than and later 18400. 00 legal cases potentially billions of dollars in penalties i mean this is insane crazy its about time somebody from buying management comes out and says look weve made a mistake we underestimated the cost of buying 1. 00 son 2 billions of dollars have all of you mean why dollars of. Vibe out of this company and it is now valued at less than what it paid for monsanto that is 66000000000. 00 ok thats going to hurt but let me bring you back to the long term effects you could could this takeover does it have the potential to actually destroy a buyer eventually. Well i wouldnt go that far because believe it or not by a still has it owned up which is still the most popular killer in the world it is investing 5000000000. 00 to come up with an alternative that the pharmaceutical business is doing. Reasonably well so i wouldnt fear that it is going to destroy but it is high time that it comes out and clarifies the strategy as far as dealing with these legal cases are concerned they have been sold and hence there because it has hired a lawyer who is an expert at dealing settlements and negotiating settlements but had a change in strategy but that also means that there will be so many other painters who will be coming on board to take in the more law expecting that eventually by is going to settle well lets hope the management is listening to our financial correspondent in frankfurt thank you. More Corporate News look to see net profits drop by 70 percent over the past year German Airline has published its Financial Results for the 3 months june made 226000000 euros the company saw or 4 percent rise in sales during the quarter and it continues to suffer as a result of rising fuel prices and the price for among europes. And police in india the search for one of the countrys richest men offices a there are growing concerns for the safety of v. J. Sit down to find cafe coffee day he was last seen walking across a bridge and didnt return to the authorities so that became known as indias coffee chain after establishing the chain which has built in 1700 outlets. Nicer business with. The body. The bomb. The bomb. Sometimes books are more exciting than a real life. Brain to. Some. What if there are some moments good. List. In my streets. Im not often kept the jet well enough sometimes i am but most end up in whip that the german thinks the interjection culture of looking out of the stereotype aquatics but interesting to see from the country that ive not. Yet needed to be taking this drama. They outdo me its all about a new i might show join me to meet the gentleman sunday w. Post. Robots theyre still in the Development Phase of such a book thats going to happen when they grow up. With humans and machines for you to peacefully coexist to play for the farm we on the verge of a robotic alosa place if we just bumble into this totally unprepared with our heads in the sand fusing to think about what could go wrong then its 1st face it is probably going to be the biggest mistake in human history. Artificial intelligence now spreading throughout our society such is this the beginning of a going to digital age. Will we be subjected to continuous state surveillance. Took a i will experts be able to agree on technical guidelines or will this Technology Create deadly new autonomous muslim systems float plane. Or robot collapse from stuarts aug 14th on t. W. Plane. This is the w. News live from berlin pending a response the u. S. Calls on european allies to join a Naval Security mission in the persian gulf states washington makes a formal request to germany france and. In britain to secure the strait of hormuz well it was cautious saying an international approach to solving the crisis is the answer also coming up remembering the boy who died when he was pushed under a train in Frankfurt Germany Authorities Say the man suspected of the crime
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