tv Business Deutsche Welle February 7, 2020 11:30am-11:46am CET
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focus on hate speech prevention and sustainable local production. all of the sos are available online and of course you can share and discuss on g.w. africa's facebook page and other social media platforms. i'm fighters to news now. the coronavirus is increasingly hitting business and try to around the globe more and more companies report serious disruption in supply chains and many are shutting down operations in china altogether. and an investigation by an international group of journalists reveals the western companies involved in shady deals with angola's just some toss family. business your business. in berlin well. and again we begin with the virus
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outbreak that is increasingly hitting businesses around the globe ferocious speed at which the corona virus spreads as badly how to exports from china with repercussions all over the regions and beyond the world's top contain the lines for example mask a messy and c.m.a.c. g.m. have all john mattick reduced calls to china allen's travel operators and entertainment outlets are on high alert or closing temporarily shanghai disneyland for example is shutting its doors because also feeling the pain the world's most productive car factory motors in south korea is stalling production because of a lack of components from china and japanese casual clothing chain unique low temporarily closed around half of its 750 stores in china due to that break i'm now joined by maximillian can. he's
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a trade expert at the merrick's institute here in berlin and economic think tank max so we heard about these examples and they're coming in quite quick now how big is the overall economic impact of this outbreak well initially it didn't look as big as it is now but but with this these very high infection rates it's looking more and more serious all the time large parts of china is looking to be at a standstill and now the spring festival is coming so close the big question is if you if workers are going to be returning to factories at and producing at the same rates to did before if exports are going to be packaged and so on. it shows it's throws a spotlight on the dependency of many many companies large companies around the globe on things going smoothly in china and some industries to dependable china well as the saying goes all your eggs in one basket but china's a shoot economy and it goes with the nature of things if there was a huge disaster in the us most companies around the globe would be affected so it's
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unfortunately inevitable that when we see a large problem of descaler rocked in china businesses will be affected it's very difficult to not do business with china. does the current conditions in china to do that weaken the country in the trade negotiations with the us well so that the chinese argument was and large in a large sense they could stand up to the head economic and head winds to trade war with the us generated but now we have additional problems in it which is which is making it so the chinese growth might not be able to hold up us well which of course weakens the chinese negotiating hand somewhat. china's central bank has today said one of its deputy governors they said that they will step up support for the economy to cushion the blow and expects it to vittie to recover once the virus outbreak is is under control how do you think the chinese government and indeed the central bank have handled this so far i think generally speaking this is something
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they had to do in the sense that the chinese stock market for example is full of regular investors is very sensitive to changes so it's just not enough credit in the market we'll see big drops so they have to go in and defend stocks they have to go supply credit to 2 in 2 businesses that can't operate unless they get sufficient lending and indeed many many companies their profits are at such low low levels that if they if they have to go for a month with no business they will not be able to to keep going so overall how confident are you that the chinese economy will recover from this quite quickly well i'm not a big question is of course a health question question i'm not a health expert but if you look at how long it's going to take it right but if you look at the death death rates and if you look at the recovery rate of coronavirus again i'm not a health expect expert but i would guess that it would be that it would eventually subside or someone can face thank you very much for this analysis.
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while china was due to publish trade figures today about the chinese customs office said that it would not issue preliminary trade data for january it plans to publish combined january and february data next month chinese data early in the year is often distorted by the timing of the long lunar new year holidays but this year the coronavirus epidemic is affecting trade as well and might distort numbers for. fear of the corona virus is increasing people are doing what they can to protect themselves from infection that includes wearing face masks in taipei for example getting your hands on one takes time and patience with ortiz there are rushing the masts to a person per week many waiting for hours and even then often end up going home empty handed. and it's this rationing that of the mass that the government of vietnam now wants to avoid. the parts are tiny the tasks are
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fiddly but it's all in a day's work for the seamstresses at t.n.g. one of vietnam's biggest textile produces they normally manufacture jackets trousers and shirts at this factory in the north all destined for export to europe or the usa since the start of the month they've been making face masks. that to help prevent the spread of the epidemic we have mobilized everything including human resources and materials we're doing whatever we can help we're using our nano cloth which was for producing the shirts to make the masks right now we're making over 2000000 facemasks. since the outbreak began the price for face masks worldwide has shot up around 20 to 30 percent according to analyst estimates and the need for them has increased not only in china. although the employees have to work more shifts and longer hours we will try to produce enough face masks to fulfill vietnamese demand during the coronavirus epidemic. authorities here have put an
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export ban on the mosques they want to ensure the local population has adequate can if the virus should spread out in vietnam. credit suisse chief executive t. john t. quit after losing a power struggle within the blue chips with spock the move comes after a spying scandal last year former star wealth manager barque todd revealed he was being snooped on by a private detective apparently on the orders of credits with his ex chief operating officer dumb banks 1st african born c.e.o. will be replaced by thomas got stuck at off the balance swiss operation. now let's bring in our financial correspondent chelsea delaney tells you what's going on there. credit suisse what was this spying scandal all about. this began last year as really a personal reffed the tween to john t.
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on and. on and it's really spilled over and become the sensational scandal especially by the standards of discreet swiss bankers this this really started whenever khan was not happy with his role inside of credit suisse and he decided to jump ship and go to u.b.s. credit suisse its rival credit suisse was concerned he would take clients with him and so they hired private investigators to follow him which led to a very dramatic car chase there with theirs or ak and this was a scandal in itself but it became much more dramatic whenever credit suisse came out and said that they had done this to other executives' before and this just raised a lot of questions about leadership and things like corporate governance and it led to this big rift between the board and particularly chairman or is around or. the team did have a lot of support from from shareholders and a lot of them were not happy with this decision and we've seen this reflected in
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the stock price today which is down about 4 percent so that's a delay me in frankfurt there thank you very much i'm golas the oil reserve could make the country rich both corruption and nepotism have impoverished his leaks files and also just the family of former president jose. tolls the state farm's especially his daughter is about as been under the spotlight recently she is known as the richest woman in the africa and golan the authorities are now also looking into wrongdoings by western companies according to research by the international console the investigative journalists. the end goal in capital luanda in 2019 the beer was flowing at the country's 1st october fest organized by beverage producer and distributors so deep. it's luan diena beers brewed in angola using german technology the company owner proudly presented the brand on instagram
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is about the santos reportedly the wealthiest woman in africa while her father shows their daughter at a santos was president of angola the government gave her tax breaks to support the domestic brewery project help also came from germany machinery for the $50000000.00 euro brewery plant was supplied by the corners company from bavaria and a loan that helped finance the construction came from germany's k f w e text bank in 2015 the dust santos family allegedly built up its fortune and then gola one of the world's poorest countries through decades of unscrupulous deals were germans unmatched in nepotism and corruption conus says it didn't know the company was owned by the president's daughter we spoke on skype to mario dillies c.e.o. who negotiated the conus deal the sort this is really a case of people running totally wild. what the death sentence family was doing was
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daylight robbery partic so last you could say you know they suddenly set up hundreds of companies and used them to tap into all kinds of different industries you can just be in and get shot. the extent to which isabel does santos and her associates ran wild is evident in more than 700000 leaked documents they come from over $400.00 firms linked to her $100.00 of them in tax havens like merchants and malta oil is the sector in which angola's elite amassed most of its wealth president a santos appointed his daughter head of state owned oil company sonangol even on her last day there $38000000.00 were transferred to accounts in dubai santos appears to have felt secure in all her business dealings but when after 38 years her father had left office angola's prosecutors now began to take an interest in her business dealings in december 29th teen a court ordered
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a freeze on her bank accounts and assets in angola alleging that she her husband and an associate owed the state over a $1000000000.00 in a b.b.c. interview isabella the santos denied any wrongdoing there is an orchestrated attack by the current government that is completely political motivated is completely unfounded like i say my holdings are commercial. there are no proceeds from contracts of public contracts or money to have been deviated from public funds the so deeper brewery was among the frozen assets of dust santos conviction won't make the situation for the germans involved any easier.
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i'm secure in the they work that hard and in the end there is a me you are not a lot of the and more he was and you. are you familiar with this. with the smugglers with miles of. what's your story ready. i mean when i was a women especially are victims of violence. take part and send us your story we are
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training all waiters to understand this new culture. another villa to another years you want to become a citizen. in for migrants your platform for a while information. cool. hello welcome to news from the world of arts and culture we'll be looking back and talking about the amazing career of hollywood legend douglas who passed away on wednesday also coming up slow fashion is all the rage at the moment long lasting clothes made from sustainable materials. and music legends as seen through the lens of linda mccartney on the show in western germany.
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douglas was born out of it impoverished jewish russian immigrants so his life really was a rags to riches story unlike other screen idols of the post-war era he manage the transition to more serious roles and also became the producer of some of his major films like sponsor kiss he made over 80 movies and stood up against the blacklist in hollywood in the mccarthy era a true legend of the cinema who's died at age 103. in film and in life he was the underdog who refused to take things lying down. his most famous moment was as a roman gladiator who led a slave revolt in the 1960 movie spartacus i was like champion trying to punch my way to success. you see.
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