mean trick is for me. is for. me is for. you. and me to find is for. beethoven is for every. beethoven 2020. 150th anniversary here on d w. 15 percent down and no end in sight oil prices on the record lows traders fear an infectious disease the outbreak of the corona virus is affecting the price of oil and also hit sectors from transport to gambling. tells us as iraq a staggering 20 percent offer some good news from the world's now 2nd most valuable

comic. and in thailand small breweries are the sets of disrupt the beer market that has become the unfairly skewed to the big multinationals. this is your business update on the us in berlin welcome to china sneezes the whole world catches a cold that's a phrase now used to describe the country's huge influence on the global economy and the coronavirus presents a pretty good case study of that phenomenon in the past days stocks around the world have plunged on fears that the disease could have a major impact on company's bottom lines and the oil industry hasn't escaped the contagion effect demand in china has dropped by about $3000000.00 barrels per day as airports are closed to the airlines are canceling hundreds of flights as a result of the outbreak this is let a major drop in oil prices the in the past month the price of brant crude. as for

about 15 percent prompting members of the world's largest oil cartel opec to consider further production cuts now let's bring in ron paul barrett he's the head of market analysis at. europe and joins us now from london ranko explain to us the connection between the corona virus virus outbreak and the oil prices. well it's very simple as you said china is a huge part of the global economy about a 5th of global gross domestic product parity and it is of course the world's largest crude oil importer so if the chinese economy slows demand for crude oil is going to drop and that's just the 1st order effect which we're already seeing and reports of stockpiles rising in chinese refineries the 2nd order effects which could be much more serious as what crude oil markets are attempting to price now is a overall slowdown in global growth because of reduced demand from china and we think at this point it's very difficult to judge exactly how bad the shock to

global growth will be because we don't know how long that will take the chinese authorities to contain the virus so at the moment oil prices and oil markets are dealing with the problem of the unknown and of course investors hate uncertainty and that is why crude oil prices have reacted the way that they have the chinese government has stepped in and implemented some measures to help the markets do they work. well i mean at the moment what we've seen from chinese authorities is a pretty substantial money tree response so we've seen a couple of they keep interest rates lowered by 10 basis points on monday on both monday and this morning we've seen injections of hundreds of billions of yuan into into bank lending markets and certainly in the short term those interventions those monetary interventions have been effective this morning in improving risk appetite so seeing crude oil markets rally a little bit the brant benchmark because we've seen currencies associated both of

china risky and crude oil such as the norwegian krone. russian ruble mexican pesos they've already overnight as well and equity markets in trying to appear to have stabilized so it seems that for now these easing measures have a calm markets nerves what we don't know of course is will this outbreak be contained before they think it worsens. i think for now markets are expecting to hit 2 q one growth in china maybe in suing global hit but not an ongoing serious pandemic if that changes then chinese authorities the measures that they've taken will start to look perhaps inadequate berridge thank you very much for this analysis. air asia's colorful chief executive tony fernandez one of the aviation industry is best known faces on monday stepped aside as chief executive of asia's biggest budget for at least 2 months authorities and the investigating claims that plane maker airbus paid

a 3rd company connected to this $50000000.00 us dollars to secure a plane order. with its slogan now everyone can fly air asia is one of the best known brands in asian aviation but now the carrier is at the center of a corruption probe individuals associated with their bust were reportedly paid to security is very on its long haul unit area x. c.e.o. tony fernandez an executive chairman. will step aside for at least 2 months as the investigation continues they deny only wrongdoing. the fallout from a bribery scandal at airbus is reverberating across the aviation industry airbus agreed to set aside up to 3600000000 euros to settle a corruption probe by authorities in france britain and the us air asia is airbus is largest customer for single jets. fernandas famously bought the malaysian

carrier for one ring is in 2001 he and moran and will remain with the airline as advisors. says well up 20 percent at the beginning of the week it's the company's biggest gain in 7 years that comes after the electric car maker announces its 2nd quarterly profit in a row of view the result as a milestone for the company as it seeks to compete with established industry heavyweights. or general motors i sometimes success can go to your head. on musk in china last month unveiling the model why i detest the phone down losing himself in the moment and no wonder these are electrifying times for the economy car. 2 consecutive profitable quarters sales growing and a share price up 20 percent in

a single day tesla is no valued at a staggering $140000000000.00 u.s. dollars for context that's more than b.m.w. and volkswagen combined and general motors and ford are also left far behind how did it 48000000000 and 35000000000 respectively. and november must park his tanks on the competition's lawn announcing that he would be opening his 1st european factory in this forest near bell and tasteless rice is now a real threat to the dominance of the big beasts of car making like vultures wagon b.m.w. and dime la all of whom dogged by the diesel emission scandal in recent times. tesla meanwhile continues to create a star with products like the cyber truck. questions still linger as to whether this inventor cum shulman. can bring long term success when dimanche

moves on crux of. the delay and he is standing by in the front for just that said prize up 20 percent does that really reflect the value of the company by really any conventional valuation metric it really doesn't if you if you look at if you compare to something like well it's like and volkswagen delivered almost 11000000 vehicles last year tesla hopes still for about 500000 this year so in terms of the actual business these that these companies do a tesla is really one of the smallest auto makers a lot of investors don't think this is the right way to look at it they think of tesla more as a as an amazon as a game changer and they shouldn't really have to play by the same rules and tesla has sort of turned turned a corner financially they are posting more regular profits they are meeting their. production guidelines but clearly there's there's there's

a lot of hope for the future and that they're going to really be the future of this evil industry baked into this into this market value at this point so the delay me thank you very much. thank you todd now a brewers born rod anti bev dominate the country's beer market with a bronze single and china together they control more than 90 percent of the market legislation helps the big bruises on the thai law only those with the passage of at least 10000000 liters per year out loud to brew and sell beer in stores small a business is practically illegal but now a number of microbreweries are set to disrupt the market. every beer from his tap is an act of rebellion. for 8 years we sank now has been running an illegal microbrewery on the outskirts of bangkok for brewpub to be legal

in thailand it has to produce at least $1000.00 hectare leaders per year cycle aus open air bar falls far short of that. the illegal we get caught 5 times already about everything because. i've the average encourage me to get grueling what you're doing is oh good good for roco you calling me good by the people. in addition to brewing and selling his own beer sykes now teaches other enthusiastic follow his example. of fundamentalism to heat the most in water to 70 degrees then the starch will be converted into sugar might get that far since launching cheap beer in 2012 seconds so has had to pay 2000 euros in fines. lag in theory he could even go to jail for violating the decades old law but his status as a colonel in the thai army seems to protect him from any severe repercussions. but

over the low. whether we do i'll be waiting for the lottery james i'll be generous they are and i think i i do the 2nd option yeah. dixit's. can't take that risk the german brew master runs a beer hall in bangkok with an annual production of only 120000 liters he's allowed to sell his beer on site but not in stores that privilege is reserved exclusively for thailand's industrial scale breweries if we don't like it and we have massive losses in sales because of it but there's just no way around it the penalties are quite a deterrent. officially the law was designed to protect beer drinkers from unqualified amateurs. but derek's total says it's in fact thailand's 2 beer dynasties that benefit the most from the protection. of any of us let's just say there are certain

areas that are run by very wealthy families they have a say and can influence lawmakers to their advantage. they argue that they can then invest more pay more taxes and so on and so forth it's their property in the chits side close view nothing should stand in the way of free market competition so he continues to build up what he calls an army of home brewers to eventually bring about change to thailand speer long. time and that's it from me and the business to. business news and lots of stories of course on our website. business well stay tuned for updates on global markets at this hour thanks for.

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for 2 part documentary. power of music. hearts and john the songs pieces of history. songs like that don't go away stay with us for all time by. the sound of fresh starts february 7th w. . and welcome the 5 to a triumph for the british film 917 look up the highlights in just a minute also coming up. the greats renaissance innovator a young fan in the biggest exhibition of his works ever assembled. and it's

been called dystopian soul but the music of american band algiers can't really be pigeonholed they've released a brand new album. since. the bafta took place in london on sunday nights they are the british oscars really very much a precursor for the academy awards which are coming up next week there has been criticism of the lack of diversity in the bafta nominations this year and this was addressed by a number of the stars who either got or presented prizes and as i said a very british film scoop the major awards. the same mendez world war one film 1917 was the big winner at the bafta that's it won 7 prizes in total including best film best british film this direct or and best cinematography. thank you bafta for giving us

a really wonderful night thank you very very much and thank you for all the people who've gone to see this movie in the cinema.