more than $10000.00 jobs are on the chopping block it's germany's premier automaker falling behind in an industry on the pressure. this is business as are your updates on asian and global business affairs on the w.r. as well come the coronavirus outbreak in china has rattled the global economy disrupting virtually every major industry the 1st sector to reel from the outbreak was the travel industry the world's biggest gambling hub macau has also shut down many airlines have scaled back services shipping companies are canceling calls to chinese ports entire supply chain stores motive tronic industrial are starting to creak. shut down operations in south korea due to a lack of parts from china warned that it production numbers could drop by 10 percent on those supply issues companies like starbucks have closed thousands of their stores across china so what could be the overall impact the global economy

grew by 2.4 percent last year and for this year the world bank estimates growth of 2.5 percent however many economists are warning that a further spread of the coronavirus could lead to a contraction of the global economy and possibly even a recession and the effects can be felt very clearly across the region the airshow in singapore for example is asia's biggest event of its kind last edition 2 years ago attracted more than $1000.00 companies but this year's event has begun against a backdrop of the core of a result break several companies have pulled out altogether and there are why the concerns about how the virus could impact the sector as a whole. flying in the face of adversity these chinese fighter jets did make it to the singapore airshow this week plenty more didn't. the biennial aerospace event opened on choosing but the deadly coronavirus outbreak has seriously clipped its wings singapore is

a long way from china but it has reported 45 cases so far. as a result over 70 exhibitors including major players such as military aircraft maker lockheed martin and the canadian plan maker bombardier have skipped the event at least 10 chinese companies are also not here due to a travel ban on those coming from the country imposed by singapore. well i notice that there are difficult bits which which are empty this morning i think some people didn't turn up and then this day they seem to have reduced presence. but this is still a major industry event boeing and airbus are in attendance among 930 exhibiting companies what is one of the biggest global shows of its kind organizers have imposed strict medical checks and handshaking is being strongly discouraged not that much of that was expected here anyway with few anticipating any major deals to be announced while the outbreak has hampered this event those attending are hoping

that the longer term impacts on the aviation and aerospace sectors will be kept to a minimum both with chinese g.d.p. for 2020 expected to lose at least one percent on the back of the outbreak that looks like an increasingly for lauren prospect. and meanwhile china is bolstering its economy from across of our us also the central government has already freed up tens of billions worth of dollars of government stimulus cities like shanghai cutting low rates and increasing lending businesses have already started snapping up that cheap credit suggesting the need remains significant. cities virtually deserted shops closed transport links at a minimum customers nowhere to be seen. with economic activity at a standstill in many parts of china hundreds of businesses are now seeking billions in loans to keep them afloat. banking sources in beijing have told reuters that around $300.00 chinese companies have sought loans worth more than $8000000000.00

u.s. dollars to try and soften the impact of the crisis that comes at a time when the chinese economy is already going through a difficult period of transition the government has already pumped more than $200000000000.00 u.s. dollars into the country's financial system to avoid volatility the president paying has made little comment since the outbreak began but he visited hospitals this week and talked up the government response very. let's fight this defense war this war against the epidemic with full confidence let's fight this people's war we must build up our confidence we will eventually win. fighting talk but a report published on shoes day by a senior member of the chinese government think tank says the outbreak could take at least one percentage point off china's entire g.d.p. for 2020 more bad news for the chinese economy which will inevitably impact the

wider global economy. now to some of the other global business stories making headlines today the u.k. says it wants closer trade ties with the asean countries now that it's left the european union britain's foreign secretary has been visiting malaysia as part of a tour of southeast asia the u.k. is on a charm offensive as it seeks new deals to replace new trade agreements. energy related c o 2 emissions across the globe last year despite expectations of another rise that's according to the international energy agency more a nubile energy and the switch from coal to natural gas to less emissions from developed countries slowing economic growth in emerging markets also played a part. di miller's profits have fallen by nearly 2 thirds last year that's the devastating admission german comic as c.e.o. or colonias as to what i had to make tuesday morning these are good prices strops

trade war and the move towards electric have hit the bottom line hard but hardest hit will be a say this mother's company's employees around the globe miss the colonias wants to get rid of at least $7000.00 workers media reports up 215000 jobs may be caught time a boss all or colonias attempted to downplay the disappointing figures with comforting phrases like investments in new technologies and special expenses profits in $29000.00 was 64 percent lower than the previous year at $2700000000.00 euros the results are much worse than expected if you not feelin i gave the city because until the financial results that we're presenting for 2019 are not those that we want to see in the future. again it's not enough tim bolen it's not fair to this good in proud company. name again i don't accept it and we're making new plans for

the future of us of europe for food it's a court but it won't be easy for the ailing car company time as electro offensive is sputtering due to a lack of high quality batteries and customers hesitating to buy and the diesel gate scandal is also partially sublayers for the lackluster showing time to spend lots of time and money on the next class pickups but production had to be cancelled due to low sales numbers the situation is hitting dimas employees hardest job and business daily hundreds plant reports that dinah plans to cut $15000.00 jobs worldwide. let's go to our financial correspondent leigh bonds in frankfurt profits that i'm not down for the 2nd year in a row how did shareholders digest all these figures. the news to digest and you know surprise surprise in this rally they seemed quite enthusiastic perhaps see

light at the end of the tunnel after the situation being as bad as this was but then it cooled off relatively quickly and the share drop you know shareholders noticing for example. promising higher profits for this year than last year not high profits but higher profits and 2019 and at the same time that you expect sales to drop back slightly for most of the vehicle lineup and that dividend cut a journey evident from 3 euros $25.00 per share to just $0.90 per share not good news for the investors. and then is has inherited a lot of the problems from his predecessor and what needs to happen. i think. in reference to the predecessor he needs to clear the area so far. who.

who provided the background for this result here he left with great numbers but now all the cleanness is cleaning up the mess he's still in line to take over the chair of the supervisory board and 2021 after a so-called cooling off period i don't think all the colonias can really sweep up with a clean hand freely liberally as he would like to and as as is needed according to analysts i talked to with dieter zetsche still in line to be his superior boss once again in a little time he won't risk that and it needs to be very clear it's such a it will be out finally. the boss i'm fine thank you very much. withstand the cost sector india has the capacity to be $1.00 of the world's biggest karma cards but it's got a long way to go of $1000.00 indians only 30 on a car in the rest of the world that number is $155.00 at the auto expo 2020 india's

biggest car show the industry hopes to turbo charge the business of the key to that is price. how that go down with the mass market in india hopes it will be music to the ears at auto expo 2020 india's biggest car show. the south korean s.u.v.s are popular with the smaller least which can spend the money on status symbols. the vast majority of indians buy cars the cost less than $10000.00 euros and even that can be bit too much sometimes last year the sale of new cars collapse by torching percent. of the indian market really wants a rituals and these were available at the show even electric rituals gernot a new on the indian market these days. india is very much that everybody that been evolving on that bought that next 5 years i would project something like 3530 percent of the entire make it population going electric. so will rituals lead the

charge for electro mobility in india until now only one percent of all cars are electric but at this auto show there is hardly a single standard that some form of electric mobility in the headlights the indian government has signalled that it will offer buyers of electric cars premiums of up to 2000 euro's that could give the indian car market the necessary boost to help it out of the trough. and that's it for me and the business team here in berlin more business news and background to them on our website as to w dot com slash business also make sure you follow us on facebook and twitter for we go here's a quick update on global markets at this hour thanks very much for watching.

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