and the japanese entrepreneur shows how to tackle the plastic bottle epidemic one app at a time. this is business as are you all day 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 is 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 $1600000000.00 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 so young jong pictured here south korea's movie industry

itself takes in around $2500000000.00 annually but last night's streaming giant netflix also hopes to grab a couple of oscars but it became a disappointing night for the streaming giant. in an industry worth close to $150000000000.00 annually winning one of these can have a dramatic impact on the movies fortunes parapets branding power doesn't always guarantee success this year is 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 irish man 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 ne on 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 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. but 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 was 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 sense. 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 generally will be taking around the french city of nice. i think that 2 to. 10000 we don't have a job or 2 months that's a big of

a good. reason for their fane hours 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 viruses 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 we've turned down in the us you know any day out here on the ends nor 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 ok 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. there's 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 berry she's had market analyst and joins us from london rocco how much of that could be down to the growing of ours 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 price is a 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 due to pork prices would drop more than 120 percent year on year and that could be a it be a city just specific supply shock that it actually began before coronavirus so at this stage it's very difficult to tell with any certainty if this is chronic virus 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 explodes for example it's just one of you thinks help out will will be hit. well over the past week we've had the 1st batch of estimates really from forecasters global banks so on 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 it 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 u.s. 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 others. you know there's 2 channels by which really the coronavirus outbreak could affect u.s. china trade deal firstly chinese commitments to purchasing u.s. goods and secondly of course if the yuan depreciates and the trumpet ministration 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 a dima now 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 likely to say these 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. 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 cash and a problem is the main business the one that's still generating the profit that's conventional driven vehicles and their time what 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 a further 20 votes 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. first 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 thoughts why the mine misses you now exists it tells people where they can refill they used plastic reusable bottle with water for free you can just search the map for the nearest water fountain business that secretes to let you fill up. and surprisingly 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 his 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 why the water fountain use japan could begin to kick plastic habit one bottle at a time. and that's it for me and the business team here in berlin more business news of course our web site that's com slash business and do follow us on facebook and twitter now for. up next right after this quick update on global markets.

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this is the w.'s wife from german politics shaken by the far right woman tipped to take over from chancellor angela merkel is the step down on the ground. insists that decision will have no impact on the stability of the country's coalition government also on the program the death toll from the coronavirus approaches a 1000 with more than 40000 cases registered across china will report from chinatown in the french capital paris president says the virus has also cause an outbreak of racial discrimination and.