entrance does it camp. own net trains kimi. didn't work with you. next season and he didn't point to nearly. the story. must. starts in january 27th on d w. businesses are facing more pressure than ever to promote social change to go to davos for some of the world economic forum are even calling for a new capitalism. also on the show more cases of a new coronavirus with patients now in the u.s. and hong kong look at how asian economies are preparing for the flu like illness as

they approach the lunar new year. this is your business report i'm stephen beard's in the lead thanks for having us. what's the purpose of a company is it simply to create value for shareholders or is it to guarantee certain social goods like work decent wages now traditionally an american might answer that question differently than say a european but now with climate change looming and inequality persisting skepticism over traditional shareholder capitalism is coming from all corners and it's finding full voice in davos. one message coming out of 2 of those is that companies want to take more responsibility for the environment the world's biggest asset manager blackrock reiterated its plans to put climate change and sustainability at the heart of its investment strategy a statement of intent for the moment but definitely a trend is it just green washing or a serious commitment to a new form of capitalism it's not something that superficial it's not something that they're doing to green light. gosh it's something that fundamentally changes

their economics and the way they do business if we actually think about companies that are performing well financially they're also usually the ones that are doing better at environmental metrics and social metrics and governance metrics. what would this new capitalism look like in practice there are plenty of initiatives around to help companies be more sustainable and we're told there's rising demand for such services especially since companies are affected by complex global problems which they can't solve on their own. well it looks like with that goal liberation is the new competitive edge to companies so those companies that know how to collaborate with n.g.o.s civil society with governments and with their competitors with their supply chain players are really barred just beat those hopefully have the future but in the present global inequality is growing incomes of bosses and employees diverged undermining confidence in capitalism but some

including trade unionists voice qualified approval of a revamped kind of capitalism that guarantees basic rights. i welcome the concept it's it's better much better than the short term shareholder capitalism that we have that dominates right now my my it's doubt is that it can't happen without a real shift in power it's got to be real it's got to be give have more power to workers to actually shape their own future negotiate their own future and rules so in future balance sheets might not just reflect sales and profits but also a company's global supply chain and how it pays its workers some of the ideas being discussed it could lay the groundwork. and joining me now from davos is d.w. senior business editor ben physical and ben as we heard in that piece businesses are under increasing pressure to focus on the public good are they especially being asked to do what governments won't and is that fair. basically

in many cases that's how it is the thing is that technology is moving so fast and that this climate emergency is upon us. we can't wait for bureaucrats businesses are moving because customers are demanding it shareholders are too this is about the long term profit and many economists say it's not about balancing trying to get growth rights and preventing climate change it's the fact that being green and being environmentally friendly is going to pay off in the long run. not been china's green push is on the agenda at davos today how is the world's biggest polluter and 2nd largest economy balancing sustainability with growth. well the british economist lord nicholas stern pointed out that someone is going to win this green race and the most likely candidate of the market is china it's making so much progress it's moved from being just a production house to becoming

a leader in innovation and technology and it's this technology that could provide the next great leap forward according to pm module the chief economist of the people's bank of china spoke to the davos crowd this morning and said it's all about harnessing technology he says he already has the data to name and shame polluters and can ensure multinationals that their supply chains in china are green if they refer to their green commission's lists that they've drawn up it's all about green financing as well and he says the chinese banks are all behind that i also spoke about innovation with a managing partner of ernst and young julie teichmann and i asked her how innovation can make companies greener. innovation is a great mechanism to really support making businesses more sustainable and greener by allowing technology to look at new business models allowing technology to make businesses more efficient in what they're developing and how they're working with people it's great for the planet what about people because so many people say

digitize ation is going to be. oh no i think digitalisation will actually change how jobs work in the future we're using technology to change how people collaborate together how people can be more inclusive and frankly how work can be more motivating what about the people who just want a simple job quite happy with that are they going to get left behind i don't think so because i think ai will help us as well as digital tools to make the job itself more enriching just because you have a simple job doesn't mean that you have to do routine tasks every day not official intelligence you mentioned it is something that's still being developed and being developed by men what about the women what about their point of view what about their molding of the future well you're absolutely right artificial intelligence is being developed largely by men and it's one of the things we have to protect against to make sure that as we leverage artificial intelligence we're taking those

biases into account and adjusting for them ensuring that artificial intelligence actually helps us be more inclusive and it can do that by adjusting the algorithms respectively so what would you say to women. be part of the game be part of the game and get out there and what go to university learn about technology and get involved in the in the sick absolutely everyone needs to chill skills and today we know that 44 percent for example of europeans don't have the skills they need everyone and every age can quire these skills with a lot of online platforms it's available part of the scheme to live in tuchman thank you very much thank you it's a pleasure. or been otherwise today davos hong kong's chief executive kerry lamb what can you tell us is going on it was he said to convince investors that the financial hub is open for business as you know those protests have hit hong kong's

economy the tourism sector is suffering small businesses as well and kerry lamb wants investors to return there's a big hope that there will be some sort of return in 2020 some analysts such spoken to say that this year will not see hong kong he'll rather hong kong will face to and that the problems will only become inflamed all right t w senior business editor ben facility there for us in davos thank you. a saying in hong kong the territory has just announced its 1st case of the new corona virus that has infected 100 since emerging in china in december hong kong airline cathay pacific says it will allow flight attendants to wear surgical masks while working on mainland china flights chinese health authorities said a pathogen can be spread through human contact cathy's cabin crew union said it had received numerous messages from employees worried about catching the virus it's feared the flu like illness could spread further as people travel for the lunar new year holiday and for more on this i'm joined now by correspondent phoebe

kong in taipei phoebe's so this illness has now reached hong kong how are companies there are companies in mainland china in taiwan preparing for the possible spread of this virus. while the companies and business activists in the mainland china and taiwan they are very vigilant on the developments on the newly found that lead car alone comb corona virus outbreak here across the greater china region that they are very careful and aware of the developments and they are taking many precautions measures some of the companies they are we quest as staff and then ploy use not to travel or even cancel their business trip to 100 and other places while we have already found confirmed cases of the newly found that only virus cases so they already are one to aim

at these situations from getting worse at the worst case that businesses might have to shut down if they found any help their staff in fact has so they have very well aware of these kind of situation that especially many of them have learned a lesson from this sauce outbreak in 2003. called before and i want thank you very much. german carmaker dime lawyer has said additional charges related to the diesel emissions scandal will cost the company a further $1500000000.00 euros this year the mercedes makers said the product recalls an ongoing court cases would weigh down results for the year ahead $2900.00 profits were down 50 percent in the previous year the company has pledged to tighten its belt in the face of rising costs in e-cards and automation. and let's go to our financial correspondent frankfurt conrad booze and conrad not

the best news there from diane laura but things are otherwise looking good in germany's leading stock exchange what can you tell us. well stephen i can tell you about a record high off the german share index dax the index it's managed to climb about 13600 points here for the 1st time ever the dax has been a little bit slow to come up with such a record high compared with other indices with other markets there's so many sectors in this index so many shares a common occurrence for example shares in deutsche bank for example companies and sectors which had really to go through troubled times in recent years now optimism really has returned back to the trading floors there are more people or people at the stock exchange who believe that the manufacturing sector here in germany this year will manage to recover and also from donald trump the man who has cost so much

trouble for the german economy very few people here expect a lot of negative policies in this election year 2020. all right in there for us in frankfurt thank you very much. and that's it for me in the deed only business thanks for watching.

every 2 seconds person is forced to flee their home. the consequences of the disastrous our documentary series displaced depicts dramatic humanitarian crises for. forgetting we don't give them anything i didn't go to university to kill people. in the field for their cars and their future

so they seek refuge abroad but what will become of her story behind it's a. battle my husband went to peru because of the crisis that if he hadn't gone. there we would have died of hunger on account. displaced this week to w. . a chopin nocturne played by claire why and see who has been called the most expressive chopin performer of our generation she'll be my guest in studio in just a few minutes time. we begin today though with an exhibition in the western german

city of asking which features pictures of 75 survivors of the holocaust you know exhibition was opened on choose day by the german chancellor and the number 75 is significant because next monday will be the 75th anniversary of the liberation of the auschwitz death camp in 1945 the exhibition is one of many events marking this anniversary. these people were persecuted by nazi germany and to survive. the portraits on display in the german city of s. and. the title of the exhibition is survivors faces of life after the holocaust. the 75 photographs by martin shiela german who lives in new york. what i think really brings these people to get a certain kind of optimism and strength i don't know if you can see that but

there's also kind of a pride and a lot of them.