journey. i got my license to work as a swimming instructor sure now our 2 children come to us with just. what's your story take part cherish on info migrants die. german auto powered di miller will cut even more jobs than expected as it tries to leave a diesel emissions scandal behind and reassure jittery investors. also on the show workers in china trickle back to their job sites on monday but many companies and factories remain closed as the cook as the coronavirus continues to sweep through the country. and did hollywood send a signal to netflix the streaming service was nearly shut out from the oscars. this

is your business report i'm stephen beers in berlin thanks for joining us german carmaker diam lernout plans to cut $15000.00 positions by means of severance pay and early retirement and that would be a step up from its current cost cutting plans all of this according to german business daily hundreds blot some car models like the mercedes s. cupe will be discontinued according to the report the car maker said in november it would cut 10000 jobs and lower labor costs by $1400000000.00 euros by the end of 2022 dime their c.e.o. o'laughlin us is expected to announce the cuts at its annual news conference this tuesday. and i'm joined now by g.w. financial correspondent in frankfurt. what more he tell us about the issues that are plaguing dimer. wherever you look the issues are plaguing dime learned that's the problem of the whole group if you look at mercedes cars the profit

margin the timer is achieving there is around 4 percent that's below its 6 percent target and it's also below what opal the former problem child of the german artist auto industry is currently achieving if you look at its peak cars strategy it's really nowhere there people are worried that it might not be able to cut up in the end and if you look at the transporter section albeit not the largest contributor to the group. results but somehow seems to call for the kind of worries that people in the financial markets have here these transporters these light trucks they're in high demand it's a booming market with all that e-commerce with all those packages into liver to your door but i'm lower achieving making losses on this billions of losses so people in the market are worried and this news today it's seen as a little step i think because the shares going up it's leading the pack in the market that's generally trending downwards here in frankfurt. and these problems

just mention who investors see as the problem behind them cleanness is relatively new c.e.o. . that's right he's only been in the driver's seat for about a year since the last shareholders meeting but already people have found occasion to be disappointed in him he announced in november. in front of investors what he had planned and that was seen as a disappointment he's already had in this short time in office 3 profit warnings which is never good for a c.e.o.'s reputation but he's at such a long time c.e.o. is seen as the main person responsible for this now we have to ask you before we go very briefly something of a political earthquake here in germany where the current power metal chosen successor for the concern. the party has said she will not follow a medical supposed ups and run for chancellor or any reactions there. yes there are just see behind me on the board the dax a lost about 100 points when the news came then it went up again people speculating

oh this might be good for the c.d.o. and for germany now going back down again so people really at a at a loss to find out what this really means for the future i talked to one it's economist for example after the news he was hoping for less reactive economic policy from now on but more active policy moving forward and giving germany a better chance with a new leader perhaps a new chancellor all right german markets following some big german political news bards their force in frankfurt thank you. let's move over to china now where monday marks the end of self-imposed closures for business and industry across the country as cities there grapple with a deadly corona virus outbreak beijing has urged important industries like aviation to resume operations get some large employers including ali baba and foxconn will remain closed other companies in cities like beijing and shanghai are asking employees to work from home the death toll from the virus rose to more than 900

over the weekend. now the new coronavirus isn't just hitting the chinese economy tourist destinations around the world have become reliant on chinese visitors in recent years now with more of those tourists forced to stay home many european cities are feeling their absence. more than 2000000 chinese tourists visit france every year they're becoming a significant factor for the french economy the chinese group tours and travel packages have now been suspended following the coronavirus out pretty for the time being this is the last group the tour guide will be taking around the french city of nice. i think that 2 to. 10000 they are we don't have a job or 2 months that's a big a. risk but they're saying that there's. the hotel industry is also feeling the pinch as chinese groups cancel like in this hotel in the old town we

just have a cancellation for a group that reserved for carnival they booked 10 rooms for 4 nights that means a loss of about 5000 euros for us so you know. this hotel near the swiss border has been asked to reimburse down payments for chinese tour groups to prevent further spread of the virus says this letter from a chinese tourism association groups won't be coming for now but what attacks leave will have to react will put the reserved rooms back on the market and we'll get in touch with groups of other nationalities that would turn down on us you know he did he on the ins norm in paris signs targeting chinese tourists offer tax free shopping. chinese visitors to the french capital spend more than a 1000 euros each on average more than most tourists from other countries. that's probably why shares in luxury brands have declined sharply on the parent stock

exchange. that you have plenty of the worst case would be what we experience with sars in 20033 or 4 months without any tourists that would be the worst or at least . the ongoing strike in france against proposed pension reforms has already hit the tourism industry hard and now the coronavirus is aggravating an already bad situation. well getting to bragg's it was hard getting to a trade deal could be even harder london in brussels are beginning to go she is this week as britain seeks access to the e.u.'s coveted single market though many of the e.u. are urging a hardline european parliament for example wants london to agree to more environmental and labor regulations then called for by the european commission members of parliament saying that that's necessary to prevent wage dumping subsidies unfair competition but british prime minister boris johnson says he will

not accept the e.u. standards johnson meanwhile says he wants full control of u.k. fishing waters and that's a 200 mile radius around great britain but there are currently actually 5 times more fishing boats in that area than british ones and brussels would like to keep it that way through a long term deal london however wants an annual deal which should it could renew or reject as it wishes now the u.k. and e.u. are girding for well a fight not the best sign for a quick resolution between the 2 sides now for more on this i'm joined by business reporter rob watts he's been following it for us rob good to have in the studio i guess the 1st question is both sides seem to know what they want the u.k. says it needs a deal done by christmas is that feasible. say if they are to avoid. a new deal breaks it and boris johnson is to keep his promise of no extension then they need a fully comprehensive deal between the e.u. and the u.k. covering just about everything you'd be hard pushed to find any analysts who say

that that is possible now there are a lot to say that there are a few things that can be achieved and in that time for example a deal on manufacturing a deal on agriculture but the big question is over the services sector and that's a really big question huge money maker it's that you can make that the vast majority of the u.k.'s economy to a financial services sector you know london being right one of the hopes of the world for that not being able to come to agreement on that by the end of year is looking extremely likely serving increasingly we're hearing boris johnson talking about some sort of off the shelf deal that's already been done with somewhere else what he's usually talking about is a canada style deal he's now said that's his preference because the e.u. has struck a deal with canada it took 8 years to hear barbara correctly did but hopefully i think the thought is that the vast majority of the work has been done because it took all of that time but also that deal between the u.k. obvious to me and canada does little to help with services it would also mean

border checks to things that the u.k. could do without briefly does this mean that all the cards are in the u.s. hands in this case now doesn't there's a lot of talk about this is the u.k. up against the might of $27.00 countries but each to each of those $27.00 countries has its own unique relationship with the u.k. that it wants to protect to some extent for example for example don't think about things like the danes so huge amount of pork products to the brits the brits love bacon they want to keep that going we've also got various countries like germany slovakia who impose a lot of costs the u.k. so e.u. unity is going to be tested over these negotiations or it will be keeping an eye on it rob watts business thank you very much fresher. now when it comes to the movie business oscar wins remain well a very valuable currency and that's one reason why streaming giant netflix spent big in an attempt to muscle in on the industry's most prestigious awards last night in los angeles yet despite $24.00 nominations it was a mostly disappointing night for the company thanks in an industry worth close to

$150000000000.00 annually when he one of these can have a dramatic impact on the movies fortunes parrotlet spending power doesn't always guarantee success this year's big winner was the low budget south korean film parasite produced by the indie studio neon it had a budget of just over $10000000.00 netflix reportedly spent 10 times that figure on the awards campaign alone its big offering the irishman directed by martin scorsese fails to win any awards and while it did secure the most nominations of any studio it took home just 2 oscars for best documentary and best supporting actress parasites for wins gives neon joint top spot as the most successful studio this year alongside established industry giants disney fox and sony with 3 awards universal also took home more awards the netflix which won the same amount of oscars as warner brothers for studios won one award each despite its

modest tally of oscar wins netflix has clearly transformed the nature of the movie and television business in recent years although it has debts of more than $10000000000.00 the streaming service has prompted the likes of apple disney a t.n.t. and others to launch similar services of their own. according to the motion picture association of america a trade body streaming services now have more subscribers worldwide than those with a cable connection oh that's it for me and the business team to check us out online dot com slash business i'm seeing music thanks for watching.

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with all the wonderful place to music that makes the game so special. for all true fans. pick up more than football long line. this week on the world stories. the united states hostility toward jews. gonna tomato growers struggle to get by. but our 1st stop is china ever since the coronavirus burst onto the scene many of china's megalopolises seem like ghost towns even the capital beijing. a rare sight in the dry winters of beijing

the gate to the forbidden city covered in snow a few people have come out to take in the spectacle but getting inside is out of the question just like almost all public facilities beijing's most famous historic site remains closed i think it's good that the government took these measures we support them we'd appreciate even stricter measures. business activity has largely come to a halt across much of the capital this is usually a bustling commercial street lots of souvenir shops knock shops tourists who visit beijing usually come to spend time here today i'm the only one. every day human interaction has become suspicious this shop ask its customers to stay outside.