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tv   Business - News  Deutsche Welle  October 2, 2017 1:15pm-1:30pm CEST

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a gunman has killed at least fifty people and injured more than two hundred in las vegas police say the suspect is a sixty four year old white male from nevada they say they have shot him dead and that the gunman was firing on an outdoor concert from the thirty second floor of the mandalay bay hotel and casino when we will be a keeping an eye on the very latest developments on the story bringing them to you as they come to us. that will leave us with coming up in one minute with the latest business headlines. climate change. waste. pollution. time for. africa people and projects that are changing the environment for the
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better it's up to us to make a difference a good. d w. make your smart t.v. even smarter with the w. for smart. what you get when you want it. up to date. extraordinary. that. you decide what's on. find out more w john smart. spain's economic powerhouse of catalonia stages a rowdy vote for independence on the weekend stepping up the pressure on madrid and casting a question mark in the equity markets over the country's economic future. and
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another european allies and bites the dust the u.k.'s monarch is grounded leaving one hundred thousand passengers stranded around the world. this is eat up your business i'm going to have office the conflict catalonia secessionist ambitions escalated at the weekend council and self deception won the day spanish prime minister mariano ahoy assured the nation that there have been no referendum but after sunday's brutal scenes support for his government is crumbling and worries about spain's economy are rising. on the madrid stock exchange share prices continue to slide more than one hundred points shed since the market opened a fall of more than one percent many traders fear that uncertainty about the fate of catalonia will lead to further falls in this climate investors buying spanish government bonds may want higher interest the country now has to pay almost one
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point seven percent interest on ten year bonds the highest in many months the common european currency also fell slightly if the euro's fallen below one point one eight u.s. dollars losing nearly a cent i'm guarding we've just overcome the euro crisis so calls for independence are certainly not going over well with the e.u. has a big task ahead of it it will have to mediate but it's clear there were ninety percent of the people want freedom that cannot simply be ignored. if catalonia gained independence spain would lose its industrial heartland the region accounts for a fifth of the country's economic power see it cars are produced here the region is also important in the chemical and pharmaceutical sectors. without catalonia spain would slip to fifteenth place in the world ranking of the strongest economic countries that would put it behind mexico so what does that mean for spain's economy and the earlier we spoke to our financial correspondent. to give us some
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perspective on the vote in spain and how investors are reacting. it's having two different effects or let's say the effect is of a different kind when you look at catalonia and the euro catalonia yes people are a little worried but not overly so that's a little bit surprising because usually when you have scenes like this in a big country like spain perhaps having trouble than the markets in the past have reacted more more sharply than this but all political risks that at the moment seem to be on the backburner and people are looking at the positive side of the euro going down now it's not going down by a huge margin but people are saying it's going in the right direction and why is that positive for equities because it makes products that euro zone companies all those acts borders for example here in germany but also in many other countries cheaper for customers outside the euro zone more profits likely as well.
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only should investors be more worried about instability and that. they probably should because when you look at it closer inspection there are some big issues there there's the issue of independence movements in other countries maybe getting some uplift from that from that catalonian population which pushed through with all that all its might its right to vote on such an issue even though the central government in madrid said no you can't do that and holger schmieding. he's the chief economist for baron back bank he's based in london he says that also for example it could make it difficult for roy the prime minister of roy's minority government to push through important legislation like budgets and spain is still one of the biggest countries in the euro zone so maybe these questions will come to the fore later on but at the moment the markets are just void by some record chasing incidentally going on in frankfurt here as well and that wall street in
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frankfurt thank you. authorities in britain are scrambling to bring home thousands of travelers after a market collapsed on monday canceling all flights one of the country's oldest paris. watchdog said it has least thirty aircraft to bring home all our customers scattered around holiday destinations ranjan from turkey it is pain and flights will be provided no additional costs the passengers third european airline making a financial crash landing this year. it was a familiar sight at british airports for fifty years but that changed overnight the demise of monarch airlines was announced in an early morning online message from britain's civil aviation north already passengers were left without a flight home most of them stranded at destinations in the mediterranean the government is vowing to bring them home in what it calls the country's biggest ever
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peacetime repatriation we expect the vast vast majority of one hundred ten thousand . passengers who are currently on holiday with monarch to come back to the way within the next two weeks that that's exactly what is expected. britain's fifth biggest airline had struggled with losses but had hoped to turn things around with orders for boeing's latest seven three seven planes and a cost cutting program bankruptcy rumors swirled last year but then monarch was able to draw a new line of credit but now that's gone and so is the airline where the decision really was a result of continued losses loss has been sustained for quite some time forecast to continue mainly as a result of depeche places in the market overcapacity in the short haul market has meant pace have been depressed for some time in britain's transport minister says other airlines have plans to quickly hire monarch's staff but that's little consolation for the three hundred thousand people who held tickets to fly on
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monarch they won't be going anywhere. well let's bring in neil wilson he's an aviation analyst that capital and joins us now from london more and more european allies of folding a bit after. that's just this year what's going on. well i think really the european aviation market is just suffered from too much capacity and overly aggressive pricing is as airlines are valued for market share and monarch is one just one of those it's been left behind its business model was maybe a little bit old fashioned it was relying on on charter flights and also it relied a lot on the the tourism market in turkey and egypt which. clearly from you know the terror attacks that we've seen has. has been decimated so that's really what it will take monarch it's a year of it's
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a sector wide problem and we may see more or more trouble ahead. talking about more trouble ahead do other airlines in europe have similar problems. well there are i mean monarch had its own unique problems i think its legacy sort of charter flight business it didn't really know where it was it didn't know if it was a package tour operator or not and it's been suffering from actual problems for a while and it's been bailed out a couple times in the last three years and the writing was on the wall monarch maybe maybe a while ago other airlines there are there's no shortage of companies that are making making losses are struggling to make a profit we've seen a restructuring in poland remain here maybe hitting hitting their lines there be any case one that gets me one profit in the last six twenty ten otherwise it's made a loss or i mean there are lines that just struggling because prices are just too
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low at the moment. will you have to be big to survive these days or live like ryanair look to us or lufthansa. i think clearly. because holidays are not. help these companies that have consolidated size gives you a lot more clout in the market and i think. allows you to run more services and so on and keep costs under control more easily so i think sizes is going to be. really we'll probably see more consolidation as as europe catches up with the u.s. in terms of. moving maryland industry forward to court where it's actually profitable. is that it takes capital thank you very much for that analysis. russian telecoms company trans telecom has installed a new internet connection for north korea that's according to
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a report from the us korea institute in baltimore it's at the new link went online on sunday north korea normally relies on a data route via china but beijing is threatening to boycott the country over its nuclear testing so the report says john young is looking to reduce its reliance on its neighbor people have internet access in north korea but the army's cyber warfare unit is thought to want better connections tranced telecom is a subsidiary of state owned russian railways now germany still doesn't have a whole lot of women on the boards of its top companies but the few are there more than their male counterparts a new study says the eighteen women who now serve on the boards of germany's blue chip companies represented in the country's stock index an average of about three million euros a year while their male colleagues only came into an average of two point nine million well in past legislation two years ago to boost the number of women in the
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top at the top rather of german companies. now if you are afraid of heights look away now redevelopment project in helsinki has come up with a novel way to promote itself they're ready urban center has offered hundreds of people who want to prize draw an opportunity to take a song about dangling high over the construction site sauna was lifted to a height of one hundred twenty meters the same height as the one that will be built into the river residential tower once it's completed it offers an extraordinary views of finance capital and space for three people. that's it from me of the business team here and i'll have an update for you in the next hour in the meantime check out twitter and facebook feed for more news and before you go here's a real time check on global markets at this hour thanks for watching.
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