and the japanese entrepreneur shows how to tackle the plastic bottle epidemic one app at a time. this is business as are your updates on asian and global business news here on c w m d a how to office south korean movie parasites who made history at the oscars last night by becoming the 1st ever non english language movie to win best picture that was one of 4 awards won by a movie that only cost $11000000.00 to make it has taken in close to $170000000.00 at the box office or that figure is likely to shoot up dramatically on the back of its triumph in los angeles last night south korea has one of the most lucrative movie markets in the world grows box office revenue was one point $6000000000.00 in 2018 the 5th biggest in the world behind the u.s. china japan and the u.k. and just over half of that revenue comes from domestic korean movies featuring

homegrown stars like joe young jong pictured here south korea's movie industry itself takes in around $2500000000.00 annually. last night streaming giants netflix also hopes to grab a couple of also has but it became a disappointing night for the streaming giant. in an industry worth close to $150000000000.00 annually when one of these can have a dramatic impact on a movie's 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 4 studios $11.00 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. monday marks the end of self-imposed closures for business and industry across china cities continued to grapple with the deadly coronavirus outbreak beijing has urged some industries like aviation to resume operations get

some large employers including ali baba and foxconn will remain closed other companies are asking employees to work from home the death toll from the virus rose to more than 100 over the weekend. the new coronavirus isn't just hitting the chinese economy tourist hot spots around the world have become reliant on chinese visitors in recent years now european destinations are feeling that 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 outbreak for the time being this is the last group the tour guide will be taking around the french city of nice. i think 2 to. 10000 they don't have a job or 2 mums that's a big of

a good. reason for their fingers in 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'd booked 10 rooms for 4 nights that means a loss of about $5000.00 euros for us so we 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 do what it takes 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 any day i.q. and they don't snore 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 paris stock exchange. but. 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 now the coronavirus is aggravating an already bad situation. that has also fresh inflation figures from china out this morning showing the highest rise in consumer prices in more than 80 years that's bringing runkle bears he's had market analysts that have monarchs and joins us from london runkle how much of that could be down to the coronavirus. well it looks like the increase in inflation was driven by food prices primarily so it looks like you know you could

make an argument that food prices are particularly sensitive to supply shocks you know perishable goods that sort of stuff so it is possible they were affected by disruptions in supply coronavirus however looking at the breakdown of the figures you can also see that a large part of the increase was actually do to pork prices which are up more than 120 percent year on year and that could be a it be a 2nd to specific supply shock that it actually begun before coronavirus so the stage is very difficult to tell with any certainty if this is coronavirus or just noise in the data and of course chinese data is very noisy around the lunar new year. about how bad will corona hit the chinese economy we just heard this morning that mongolia is suspending coal exports for example it's just one of you fix how about well we'll try to be hit well over the past week we've had the 1st batch of estimates really from forecasters global banks so and so forth the short answer is that no one knows for sure but if we assume that the outbreak outbreak will be

contained at some point by the 2nd quarter and if we look at the impact of the sars outbreak in 2003 we see that chinese growth will slow significantly by about a percentage point or a percentage point to the hof in here on the. course this is assuming containment can of course get a lot worse than that if the outbreak continues but if we look at the phase one trade deal that china and the us have signed a lot of the focus around are cultural products. will that be impacted overall china's position in trade be impacted by the koran of the koran other. you know there's 2 channels by which really the corona virus outbreak could have hit us china trade deal firstly chinese commitments to purchasing u.s. goods and secondly of course if the yuan depreciates and the trump administration decides it doesn't like that again if it's a mild outbreak it's possible that authorities will be managed will be able to manage both of these effects birds in london thank you very much.

german comic plans to cut $15000.00 jobs by means of severance pay and early retirement that would be a step up from its current cost cutting plans according to a newspaper report here in germany some common rules like the mysterious ask who pay will be discontinued comic or aims to lower labor costs by $1400000000.00 euros by the end of 2022 so your wallet colonias is expected to announce the cuts on tuesday. as bringing our financial correspondent we badly yet more jobs to go a dime now is that all down to the changeover to electric. no i wouldn't say so electric as part of the gloomy picture on the list i talked to today said the timer is lagging far behind there and that in terms of battery technology which is key to profitability and e-cards diameter is practically nowhere but of course in order to

build in order to catch up you need lots of caution a problem is the main business the one that's still generating the profit that's conventional driven vehicles and their time has been underperforming for years to yield the profit margin at mercedes much below that of most competitors even below opel and investors very dissatisfied so the c.e.o. is still relatively fresh c.e.o. although colin yes i'm sure is feeling that he has to do something whether it's enough for investors to have to wait for the story to play out further. what about in frankfurt thank you. know japan is the 2nd biggest producer of plastic waste per capita around the world off the united states the japanese government has promised action including introducing charges for plastic bags later this year impatient entrepreneurs are coming up with their own ways to tackle the

problem. thursday is rarely a problem in tokyo with drinks available on almost every street the problem is pretty much all of them comes in plastic bottles make up a big chunk of the 30 kilos of plastic waste produced by the average person here each year. that's why the my muse you up now exists he tells people where they can refill their used plastic ball reusable bottle with water for free you can just search the map for the nearest water fountain or business that's agreed to let you fill up. unsurprisingly the offices of the company behind it are a plastic free zone. kind of messaging to people is that you can have a fun and very prosperous life if you just shift your basic consumer behavior in a positive direction one of the businesses signed up is stock home roasting central tokyo the baristas here will refill your water bottle for free whether you're

buying a coffee or not the cafe is hoping to contribute to a change in japanese drinking habits. through the cooperation of cafes and restaurants and wider water fountain use japan could begin to kick kits plastic habit one bottle at a time. and that's it for me on the business team here in berlin more business news and back out of course on our website com slash business and follow us on facebook and twitter stay tuned now for the w. news that's up next right after our this quick update on global markets.

2 researchers in stuttgart playing ball in the heart. what's these concrete spheres discounts. the hollow moments for construction harmony and economical and the surprisingly durable . tomorrow today. 90 minutes to. take it personally your wedding with all the wonderful people and stories that make the game so special. for all true fans bombay a. leg up more than football long line. crime fighters are back africa's most successful radio drama series continues this season the stories focus on hate speech color of prevention and sustainable growth

production. all of a sow's are available online and of course you can share and discuss on africa's facebook page and other social media platforms. crime fighters to me now. have fun in pyongyang. the capital city of north korea is reinventing itself. but only a few can enjoy the benefits of those the allowed. kim jong un introduced and studious reward system to coerce allegiance to the regime claiming those who don't make it into the fun metropolis the often toggery. have fun in pyongyang starts february 28th on w. cut

above claim plane. this is due to the news coming to you live from berlin jail in politics shaken by earthquake over the far right the wanted to take over from john sigler macas standing down but on a good compound in balad insist there is no impact on the stability of jim these coalition government. also in the program the battle to contain the virus the deaths today is approaching one palace and more than 40000 cases have been reported across china retail from a couple quarantined on a cruise ship.