tv Business Deutsche Welle June 6, 2019 1:30am-1:46am CEST
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good. to see. curious minds. do it yourself that workers. subscribing to. a drool over debt between brussels and broke the news patience is wearing thin it warned italy could pay dearly for breaking e.u. fiscal rules. also on the show us job creation drops to a 9 year low. and how a group of tech savvy mothers bring light to villages in malawi. this is day to day of business i'm joined now them alone in berlin good to have you with us the european commission is not amused it's taken the 1st step in triggering
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disciplinary action against italy for its excessive public spending italy could end up paying billions and finds out a time where the country's fragile coalition government is already under pressure to deliver on expensive election promises. the european commission's message is loud and clear it's the end of the line for italy's ballooning public debt. we know it's i suppose for recovery and growth really doesn't member states go already taken it was a success so this boss told us that he knew would reform if forced spending more wins additional fiscal space to do so italy's current debt stands at 132 percent of annual g.d.p. in other words the country owes far more than the value of its entire economic output under e.u. rules member states aren't supposed to amass debts that exceed 60 percent of their
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annual g.d.p. . italy has been ruled by a coalition of the likud party and 5 star movement during the election they promised to end government cutbacks and boost social spending while reducing taxes in addition the government hopes to lower italy's retirement age the coalition says the measures will help kick start italy's sputtering economy and cut the country's unemployment particularly i don't even have a job the politicians before were fox us now the ones here what do nothing as well it's getting worse and worse it always seems to get worse. look i'm worried by many things to tell you the truth a little bit also about the e.u. disciplinary procedures as well but they are only one of many things that have worried. critics say the program would likely cause italy's debt to grow even further and that's something the european commission is the looking to prevent. us private employers added only $27000.00 jobs in may well below forecasts of an
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increase of around 180000 it's the smallest monthly gain and more than 9 years according to payrolls processor a.d.p. analysts blamed the weakness on heightening global trade tensions the u.s. labor department delivers its non-farm. a rolls report on friday which includes both public and private sector employment many economists expect that report to also show slowing jobs growth. our financial correspondent yan's quarter joins us now from wall street i go to syria and tell us more about how trade tensions led to the slowdown what kind of sectors are most affected well we mostly saw actually smaller companies with less than 50 employees who saw the biggest cuts in employment in the past months of brick and mortar stores for example and they might suffer not so much because of trade tensions but because of
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competition from online retailers and overall yes this was the slowest job growth in the private sector in about 9 years but we also shouldn't forget that the deposit 9 years in that area a good 21000000 jobs got created and it was just a matter of time when job growth is slowing if this is a trend well we will get some more evidence on that on friday when the labor department will be out was their monthly data. so quite possibly the bust after the boom but what will these poor figures mean for the fed's policy more loosening the way the white house wanted. well it does mean more ammunition for the hawks meaning those people who are in favor of tech because of rate cuts so maybe it probably would go to the better way almost every day now we get
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members from the federal reserve saying that they're willing to cut interest rates if conditions worsen and this labor day report certainly did show some weakening on the labor front and we saw the clear reaction on the stock market after a brute chips went up by a good 500 points on tuesday off the remarks from fed chairman jerome tal the palm now on wednesday we saw another increase of a good at 200 points so all in all a good 700 point increase just was into trading days investors finding reasons for excitement dance card to there on wall street for us thank you the u.s. a sudden ban on american tour groups traveling to cuba has caused some confusion to tourists and operators alike some cruise ships on that route to the island before the band's announcement scrambled to find alternative destinations for the passengers but it's the cuban locals living off tourism were hardest hit.
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old timers and more recently mega cruises have been features of anyhow van a visit to the tourist ships looks set to seal here no more cutting off a short lived but lucrative source of cash for the struggling communist island. it's really a people blow it's true about the progress that was made has been diminished and this way it brings more economic crisis to all the families and the cuban people to have a good one it's not just tour guides who are concerned by the move a quarter of a 1000000 u.s. tourists visited the island in the 1st half of this year some of them taking in the truth of the old tired are not impressed by president trump's latest. that's a shame that's a real shame that government should do what's best for its people he's a business bad but he always just thinks about money and he doesn't think about the
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people in their heart. like the flower sellers who bring color to the capitals historical plazas and even we have been you know we're very depressed because all of these disputes bring problems for us to both economic as well as psychological from many points of view you know we won't get tired we'll keep fighting here but at the time families. of the cuban government estimates the bond will cost tens of millions in lost income each year it's a heavy price to pay for those whose livelihoods depend on it. now to some of the other global business stories making news. you tube has updated its guidelines on hate speech the video sharing platform says it will now begin removing content that glorifies naziism white supremacy and other extremist view that will go on company is also banning videos that deny the holocaust and other well documented violent
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events like school shootings in the u.s. . french cosmetics chain for a closed all its u.s. stores and distribution centers on wednesday to hold an hour long inclusive body workshop for its employees the move was made a month after grammy nominated singer says that she was racially profiled a forum for you called security to make sure she wasn't shoplifting at a store. china is well way has signed a deal with aggressions telecoms company m.t.s. to develop a 5 g. network in the country over the next year the agreement was signed on the sidelines of a meeting between chinese leader xi jinping and russian president vladimir putin in moscow. wake up and smell the coffee especially as its getting harder to produce all still coffee prices have been plummeting spelling trouble for many small scale farmers. it's just seen for coffee lovers to savor but with the
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demand for a fine tasting coffee growing so too have called for sustainability the market is booming in germany and the higher prices paid for it to improve producers living costs most of the world's coffee grown by smallholder farmers there are 4000000 of them in ethiopia alone africa's largest coffee producer it is the country's number one exports. but for the last 2 years world coffee prices have been heading downhill even slipping below the critical level of $1.00 a pound last time by. then that kind of price slump hits smallholder farmers worst of all increased illegal coffee initiatives aim to alleviate the hardship by paying better prices and investing in sustainable development. to malawi da where according to the government just 11 percent of the population has access to like to
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sit electricity that figure drops to just 4 percent in rural areas handful of women called the solar mamas has set out to change that and in some business experience on the side. in one remote malawi pillage a group of mothers are using their skills to improve the lives of their families as well as their neighbors the women or nicknamed solar moms they were trained to install operate and maintain residential solar power systems. power training in india anyone in my village who gets the home lighting system has to pay $1.40 per month for the insulation maintenance. users applaud the mammas. improve my own life a lot for example my children can read at night also before i had solar i could be bitten by a snake if i went out at night time that life has improved because i use solar to light my house. burners and budding entrepreneurs these malawian women
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signal change for sub-saharan africa the solar energy not only provides the solar mommas with a steady stream of income it's also set to transform africa's economic landscape lower manufacturing costs and increasing production means that solar panels are becoming more prevalent on the continent they are also more accessible to those in underdeveloped regions. and that's it for me and the business for more you can always go to. business thank you very much for watching.
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