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in the u.s. the democrats win the majority in the house of representatives. the republicans win three more seats in the senate. while some speak of a defeat for the president he considers the results of the midterm elections a victory. last night the republican party defied history to expand our senate majority well significantly beating expectations in the house for the mid to. and midterm year. the economy is divided on the one hand tax cuts and deregulation have triggered or at least supported a boom on the other hand many dependent regions are still in crisis the role of individual presidents would be overwhelmed anyway according to city council the rand eades from bristol a city with a lot of poverty and fewer and fewer jobs. the
economy is a more complex than just one party being in control or one president being in control people will say that. mr trump is the one who has made the economy boom right now others will say that it was because of president obama i don't think either one can necessarily take credit on the stock markets the elections did not trigger any big leaps world indices rose slightly much more important is the uncertainty as to whether the policy of punitive tariffs will continue after the elections or not at least the result of this election shows that the democracy in the united states is still alive and that there are controversial debates about also for all of business crucial topics and one major topic is that trade policy off donald trump evans i. have little hope in the german of business community that
the election results will change much of that was all it was the end of it i don't think that there will be a major bettering it might even get worse. what everyone fears is a global slowdown possibly a recession nobody can say at this point whether the probability of this happening has increased or decreased it's for. this is not just any exhibitions as chinese president xi jinping this is his country's promise to allow more foreign competition. it's a fair that emphasizes import not export and this is indeed new for china. three thousand six hundred companies from one hundred seventy two countries attended the one week mega event in shanghai. and china's premier promises once again more openness. we will continue to implement
a proactive fiscal policy and push for cutting taxes and fees meanwhile we will keep stability and optimize the business environment in order to further mobilize the market players the government has already dismantled trade barriers and lowered tariffs on many industrial products since the first of november in the first three quarters imports to china have already risen by twenty percent to one point six trillion dollars i.m.f. boss the guard however is slowing down the euphoria the trade dispute with the usa will weaken growth in china at least this year and next. nevertheless she sees china's strategy of opening up as a good way of sustainably boosting growth. zeman power plants and gas turbines have become a problem child in the fourth quarter the divisions profits fell by almost three
quarters one thousand jobs worldwide are being cut and insult to injury orders that were believed to be secure are now on the brink of collapse in iraq for example siemens believes that the us government's political pressure could put the competitor general electric on the spot or in saudi arabia hears even as was on the verge of concluding a twenty billion dollar deal but in response to international pressure over the murder of journalist jamal khashoggi c.e.o. joe kayser said that he would not participate in a last minute investor conference thus upsetting the kingdom. the fact is that. a significant deal of it was worth north of ten dippin that's true but obviously you know things go as take oh i've always made it clear you had better have a partner competent partner off the kingdom of saudi arabia they have more than
thirty million people mostly young people in the kingdom that a lot of reforms if half initiated so i think we need to look at all factors the others even if groups such as transportation digitization medical technology and alternative energies are in a better position the profit for the year as a whole even increased slightly to over six billion euros and the company is also cautiously optimistic for the coming fiscal year according to the group on thursday . one day after michelin announced the closure of a factory in scotland the only motive supplier scheffler now wants to significantly reduce its business in great britain two plants are to be closed within the next two years due to breaks that the production from the affected locations will be relocated to germany china south korea and the u.s.
a large part of the parts produced in great britain are exported to continental europe after a long dispute between ryanair and the german trade union verdi a solution in the collective bargaining conflict is in the on thing. the irish airline in the german union have agreed to more money and better working conditions for the approximately one thousand flight attendants similar agreements already exist with ryanair employees in italy greece and sweden now collective bargaining with the pilots is still pending. tesla basilan musk has resigned from his position as board chair for three years his successor will be robin dent home who is currently chief financial officer of an australian telecommunications group the reason is the tweet in which musk stated that he's taking tesla private for four hundred twenty dollars
a share the statement turned out to be misleading in addition to musk's departure the authorities have also imposed a total fine of forty million dollars. here in iran the headlines in the newspapers may be defiant but the real story is bleak for many in the country. above all the sanctions are taking a toll on those already struggling to make ends meet. and you know. i don't know how long this is going to last. how long we can resist. and whether our government will be able to find solutions for the sanctions and save us right now we're in a whirlpool and we hope we don't drown is. the fear is quite real the trump administration sanctions package is designed to hit the most sensitive sectors of
the economy simultaneously from now on financial transactions with the iranian central bank and other iranian banks are prohibited that's cutting off iran from the international financial system that affects all sectors of the economy in addition transactions with the oil and gas industry as well as the energy sector are prohibited in most cases finally all ports in the shipping industry are being boycotted that brings the transport of goods to a standstill. since august the iranian government has been prohibited from buying u.s. dollars the iranian ryall and government bonds may not be treated internationally nor gold or precious metals the ban on steel and aluminum exports to iran is paralyzing the construction and engineering industries the sale of aircraft and aircraft parts is also bad as well as industrial software needed for all modern machinery finally the sanctions prohibit transactions with the iranian automotive
industry analysts believe washington's threat to punish any companies and countries violating the measures will be quite effective as a moment on and even what we're experiencing at the moment is a phenomenon in which the u.s. uses its macro economic weight as a weapon so the sanctions are in effect an economic weapon and global trade is very interconnected and countries conducting trade with iran run the risk of losing their u.s. business and for most countries in the world doing business with the us is much more important than their trade with iran it's going to shift it seems to be working dialer to the french p.s.a. group which includes situation and push joe almost all international companies have withdrawn from iran or in the process of doing so. these are some of the wooden towers that were erected in hungary using e.u.
money at seventy thousand euros per hour they were apparently built to promote tourism but there's no hotel or restaurant in sight hardly anyone in the village will speak to us someone does agree but wants to remain anonymous. towers are of no use to anyone here people just made money off of them people who initiated the project. it seems to have set a precedent a total of one hundred eleven similar structures have sprung up across hungary the journalist who uncovered the case has been blacklisted by the hungary in government my past the initiative to build the towers came from a group of villagers everyone involved received around twelve thousand euros but forrester also got a considerable sum for construction costs and the rest went to an employee in the ministry like bill that will mean the stadium hungary is sinking further into
a pit of corruption the organization transparency international ranks hungry at number sixty six tied with the senate got the money from brussels is only making the problems worse says variety by lodge and the utopian agency all of that is in charge of that setting this question is on demand so they only look at a few projects and then they actually tell us that that was i miss you was that happens six seven eight years after the fact. a european public prosecutor would be more efficient at least that's what the petitioners are hoping they want to collect one million signatures at the moment they have twenty five thousand and that was your business week in review.
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