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tv   Business  Deutsche Welle  September 24, 2019 11:15pm-11:31pm CEST

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lifted they will be tightened but china and iran are scheduled to address the assembly in the coming days they must now decide whether they want to follow the secretary general's cautions or risk further deepening their conflicts with the united states you're watching the news stephen beardsley is up next with the business thank you for that. earth. home to news of species. own words if you can. get those are big changes and most start with small steps global ideas tell stories of creative people and innovative projects around the world. news that could turn the good news to green energy solutions and the 1st edition. interactive content teaching the next generation of fundamental
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potential. using channels available to us from people to take action and more determined to get something here for the next generation gloomily as the environment series of global 3000 on d w and online. cuts. pay off or get out that's the message for stranded thomas cook travelers around the world we'll have the latest on the travel giant's demise and its ripple effects. and we'll look at how the u.s. shale oil boom has changed energy policy in the u.s. . this is a business report from steven beers and lead thanks for joining us one day after the thomas cook bankruptcy the outlook of one of the travel operators airlines contador as improved the governments of germany as well as the. of heza provide
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a bridge loan of 380000000 euros to keep the carrier flying injecting desperately needed liquidity to the otherwise profitable company car door was founded in 1955 and has been a full of affiliate of thomas cook for a decade. meanwhile things remain difficult for thomas travelers they just want to get home. going to be inert is upset 1st his hotel demanded a 1000 euros to cover his room bill money he had already paid to thomas cook and then he had to spend another $200.00 in $1000.00 euros for a flight home to munich. just paying left and right always paying i have no idea where the money should come from that's a good thing and yet he still doesn't know how we'll get home it's quite ironic because being not paid for an all inclusive trip so he wouldn't need to worry but the carrier for his trip is currently not operating flights from majorca. british tourists and my your cousin seem to be doing much better than the germans those
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with thomas cook bookings are lining up at check in counters the british government has sent help and is still trying to arrange return flights for everyone left stranded. tourists all across the mediterranean island desperate sabina is from the german city of down and has booked a 4 star hotel what was supposed to be a special treat turned into a nightmare on monday. mom i went to buy some water at the supermarket next door when i got back my room key wasn't working anymore. at the front desk they told me i had to pay for my room to get back in for the hose stays not just for the 2 remaining days. i talk to hava. she told staff she needed her money and some medicine from her room then she packed up her belongings and ran she found a cheap room elsewhere for the remainder of her stay plastic sure is of course.
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something this trip is about to end she's planning to fly home on wednesday but it's unclear whether her flight will operate as scheduled or if she'll have to pay again for an alternative. over to the u.s. for president donald trump has delivered a stinging rebuke to china's trade practices speaking at the un general assembly trump accused beijing of breaking promises made since joining the world trade organization as of the ongoing trade war trump said he would not accept a quote unquote bad deal suggesting a prolonged impasse between the world's 2 largest economic powers hopefully we can and let's bring in our market correspondent in new york yes i'm guessing that investors may have reacted to this speech. and there clearly has been a reaction and the u.s. president actually had a long list with him there was the talk of a mess of trade barriers there was the accusation of currency menu put
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lation of force to transfer the technology transfer and then also the theft of intellectual property in a heavy scale so on top of it he also criticise them some of the big social media platforms and we saw a clear reaction all those companies that are in the midst of other trades dispute between china and the united states semiconductor companies for instance are also companies like caterpillar belong to the bigger losers and then on top of it we also got to be a reading of consumer sentiment and then all the chatter about the impeachment inquiry as so well that was actually too much for wall street and therefore it was a down day on tuesday or a quarter there 1st in new york thank you and of course world leaders were gathered in new york to compare climate action plans host country u.s.
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remains a climate challenge greenhouse gases greenhouse gas emissions rather jumped in 2018 with a growing economy and the american fossil fuel footprints that's also continuing to grow and one reason for it shale oil. this is how franking looks in the western state of colorado shale oil and gas captured by fracturing the surrounding rock with high pressure liquid fracking is put the u.s. at the top of the world's crude suppliers american fields now produce more than $12000000.00 barrels of oil daily that's allowed the u.s. economy to rely less on oil imports. and it's giving the country new bragging rights over one time oil partners. we have nearly 100 years worth of natural gas and more than 250 years worth of clean beautiful coal we are a top producer of petroleum and the number one producer of natural gas we have
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so much more than we have thought possible we are really in the driving seat. but critics like the organization oil change international warned that the fracking boom in the u.s. leads to an enormous c o 2 emissions and the chemicals in the pressurized liquid are harmful to the environment. and i'm joined now by hike a book tour she's a financial journalist in new york and author of a new book on the u.s. oil economy hi thank you for joining us there is a debate over fracking in the u.s. but it's not really about the carbon footprints is it no not really this is more on a local level where environmental issues have been debated for some time but the bigger picture issues like climate change and c o 2 emissions are not so much yeah causing controversy here in the u.s. . you writes in your book that the current us administration is in acting
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changes in u.s. energy policy and encouraging the growth in fossil fuel production making changes that might not be easy to reverse in the coming years or in subsequent administrations but what do you mean by that. well the fossil fuel industry is literally digging in for the next decades i'm in we're seeing pipelines dozens of pipelines being built 100 literally hundreds of refineries and chemical plants being built as we speak and there is something of a plastic belt emerging. in the former rust belt those regions that have been seeing manufacturing losses in the past decades now as the discussion over climate change grows everywhere including in the u.s. is it possible that markets might start to push out some of those dirtier forms of
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energy production this plastic belt for example as maybe consumers go elsewhere what do you see when you look at the u.s. . well it's hard to see how that fracking genie will be put back into the bottle and at least for now there seems to be no 1 limits on the missions or maybe a price to c o $2.00 emissions here in this country and so i don't see a market based solutions as of now. and you and i talked about this earlier actually a number of fracking firms shell oil firms are going bankrupt at the moment that's sort of a story line that we see why is that when it seems like shell oil production has only been going up. well the franco's actually were the winners off the financial crisis because wall street's attention off the 2008 turn to the oilfield and they took on. really big bad
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loads and so they need really high prices and the oil market because of the fracking oil that has come in from the market hasn't been really delivering on the high oil price up to up to now and so they're struggling to pay back that but that doesn't mean that fracking will go away for financial reasons at all right so it's not changing investment strategies from wall street but still insist on fossil fuel production in the u.s. michael booked a financial journalist there for us in new york thank you very much. a british exit from the e.u. with out the deal is looking more and more likely by the day and that has you countries preparing for long waits at the border like france take a look. there are no long lines to be seen here at the dress rehearsal for a no deal breck's that france has prepared itself for the emergency with a new digital porter system and many of the regs will have to reintroduce border
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checks even if the e.u. and britain don't impose customs duties exporters and importers will have to fill out forms again you can use our system to do that online in advance here in calais they just scan in the barcode and continue on their journey though some one could but. only certain items like food will be physically examined at the border hundreds of border guards are getting ready not only do they intend to prevent waiting times they also hope to cushion the adverse effects of brecht's it after all kalai is the main hub for trade between the e.u. and britain invest in the uk to see what do and of course we know that a future tariffs are imposed on our business could suffer. especially of companies started exporting or importing less between the e.u. and britain pretty ubiquitous he's a little but we've made it our business to be prepared to play it and we are
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even for a no deal breakers it breaks it but it still up in the air if the new board a system will actually go into effect at the end of october. this is the french way of telling the british we are not afraid of a heartbreak that but there is also a growing impatience with the whole process although few people wanted the u.k. to leave to start with the voices saying that maybe we should finally get things done with a growing louder. that's it for me in the business jim thanks for watching.
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the choice of the world economic forum 2019 on sustainable development from new york how do we create a market. our answer to that question would be to involve people in the climate from smart pinball the young people take our ages as crazy as they might be t.w. presents a high profile panel discussion hosted by sarah kelly 60 minutes. of
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technology. market. made in germany. your business magazine. when your family scattered across the globe. sun lives
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a tube turn to the roots should get them in the lead the charge family from somalia live around the world to. me to the urgent assistance of. the family starts october on. this is news africa coming up in the next 15 minutes the country with the worst housing in the world will tell you why the u.n. says that country is nigeria. and taps in zimbabwe's capital run dry but doesn't that cost foreign currency have to do a little. bit to south africans who couldn't become the professional soccer player he dreamed of but is now dancing.

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