least china has postponed its biggest trade fair for cars in beijing the coronavirus is to blame. was ju-ju restart production today but will keep its chinese facilities shut brands make over a 3rd of their global sales in china. it's not a good time to be selling cars in china in january kara's sales in the country fell by 18 percent from the previous year as the effects of coronavirus restrictions hit showrooms analysts at swiss bank u.b.s. expect a 50 percent plunge in february. as if that weren't bad enough extended factory shutdowns and supply chain destructions are said to lead to a massive drop in production who by province the center of the outbreak is a key manufacturing hope for the car industry. german car makers are being hit especially hard china is a key market for the folks wagon group and its various brands the company sold 4200000 cars there in 2018 that's around 40 percent of its global total

but january was a bad month all of the v.w. brands combined sold $343000.00 cars a drop of 11.3 percent compared with last year the outbreak has come at a time when the car industry worldwide is already facing many challenges the diesel gate scandal and the difficult switch to electro mobility are among the biggest for german car makers if the current crisis in china goes on much longer it might come to rival those other problems. as it was pandey is tracking this story for us as a lot of stocks paint a different picture today they're cheering on china's latest stimulus efforts to curb the economic impact of the coronavirus is that going to save europe's carmakers that. well investors certainly believe so i mean at this point of time all the automakers are among the top performers and that's so clearly the investors have different ideas they are hoping that the cheaper money is going to drive

economic growth in china a key market and that is going to actually boost car sales and they're also factoring in the fact that perhaps core no wires may be peaking at this point of time and so that's driving the sentiment as far as the stock market is concerned so with a cut like it's going to be able to ride this one out you're ahead. in the short term no i mean if you talk about this quarter we can expect gas here is to fall by as much as 20 percent there is just no or incentive for people to go down to the showrooms and people are not stepping out at this point of time it's clearly buying cars is clearly not their priority at this point of time even if there is enough invented there to make up for the supply chain order the production issues but people are not buying but in the long term analysts tell me that perhaps the carmakers would be able to make up for the shortfall as a pundit for us at our street is thank you very much. well

a quick look now at how the crowd of viruses 19 is impacting other places in asia data from japan point to a recession the economy suffered its worst poorly defined in over 5 years a crowd of buyers deadly typhoon and a tax hike of all combined to take that toll. i think pacific has issued a profit warning after the virus outbreak forced it to cancel the early hotfix flight from february and march for cathay it must add another blow off the turbulent times in hong kong where street protests depressed flight traffic. macao will reopen its casinos from thursday they've been shuttered the past 2 weeks to prevent the spread of the coronavirus large numbers of mainland chinese flock to the world's biggest gap spending 100000000 dollars a day. and robbers have stolen hundreds of toilet rolls during an early morning delivery at a hong kong supermarket coronaviruses led to shortages of everyday essential panic

buying has made toilet paper in the territory. the virus is also hitting the international trade hub of singapore officials are predicting a major economic downturn the city state may even plummet into recession. passengers at singapore's changi airport are going through rigorous temperature checks after all 75 people have tested positive for the corona virus in the city state so far more than any nation outside china the government has provided masks for every household images from hospitals are standard fare on television at the moment they're meant to show that singapore is prepared. but they haven't stopped some kinds of stockpiling cleaning products in particular are in short supply as are some food stuffs. the government is worried singapore's economy will grow a maximum 1.5 percent this year forecast suggest it could you can shrink by around

half a point that's. because the tourism sector has already taken a major hit and people are avoiding restaurants and shopping centers last week prime minister lee hsien long warned that 1000 had already had a larger economic impact than the sars crisis 17 years ago back then the number of visitors to the city fell by 60 percent in a single quarter and the government said losses due to sars totaled around 5000000000 euros. a jury in the united states is awarded a peach grower $265000000.00 in damages in a suit and by and b.s.a. if the claimed aside sprayed on fields near his orchards drifted on to the trees seriously damaging in killing them it was the 1st american case to rule on the we kill or die camp made by the 2 german firms bias says it will appeal. french train make up has confirmed it's in talks to buy the rail equipment division

of the embattled canadian company. the wall street journal reports that allston has reached a preliminary deal to buy the unit for more than $7000000000.00 buddy is a big employer in berlin but is heavily in debt and seeking to expand to compete with china after the e.u. blocked a merger with zemin israel the vision. is following this one for us from our frankfurt offices so is the e.u. going to. give the green light for this one do you reckon. well then it's likely that the anti trust watchdogs will impose a few conditions on this deal as well mainly in the business of smaller trains you know regional trains travel trains underground trains it's very likely that the new train maker 4 of us on trains and you will have a bit of a dominant position in this field at least here in europe but the big difference compared to the failed merger of siemens trains and us tom last year is high speed

trades here bought by g.e. is not active at least not as a train builder it's just a supplier here so no dominant position here which means that it's quite likely a few conditions will be applied but the anti trust watchdogs will likely not completely block this deal ok some of those trains we could see they're running behind you on the screen or actually built by bomb body but the company is struggling and what i find really strange is the rail travel is so popular right now. that's true for many many years was the global market leader when it came to train building up until this chinese this huge chinese competitor was formed c r r c but paid a high price to maintain this position as you said it has a huge amount of debt and this financial situation will lead to problems with quality in many different fields in the recent years has problem has had problems

with customers you know software didn't work deliveries were delayed the pro quality of the works were not satisfactory and that really caused a lot of problems for bob id in this business which is also highly political you know customers which are often governments often who also want the jobs in the country where you know they buy trains and bombards is simply was not flexible and quick enough to operate in this competition so do you think buddy and olson would be a good fit to take on china. most probably you know a. merger would have made more sense if you look at the global scale but the e.u. and trust watchdogs didn't want it and we shouldn't forget the chinese are paying a lot of money in order to enter those markets to no european competitor really has this kind of financial backing it will be very difficult for the new company to

compete against the chinese even with 75000 employees and 15000000000 euros of turnover oh. thank you. well the returns just won't good enough general motors is pulling out of a straight a new zealand and thailand it will mean the end of the road for the iconic holden brands come any ozzy's grew up with and love it's even got their prime minister fuming. g.m. plans to withdraw its chevy brand from thailand and sell its factory to china's great wall motors by the end of this year. new zealand the common factories says they will wind down sales for its historic holden brand in 2021 g.m. doesn't see a future in a market share has dropped from over 20 percent in 2002 to just 4 percent. this was not a decision we took lightly it was an agonizing decision many of g.m.

simulators have a very strong affinity for this brand this iconic brand. working here. and it's no reflection on the capability and commitment of. the employees that there are problems. holden has been in the car business for more than 100 years and was an affiliate of g.m. since the $930.00 s. over the years holderness manufactured cars not only under its own moniker but also for asian brands like toyota and nissan and australia the decision to shut down was met with shock and anger especially since the company had been given a quarter $1000000000.00 bailout less than 10 years ago of course disappointed not surprised i think the fact that they took money from. just. watch i think is disappointing and i think at the end of the. throwing.

money at them at the end of the. respect at the end of the. g.m.'s withdrawal and stronger focus on its whole market in the us will affect 1500 jobs in thailand and just over 800 in australia and new zealand. business with here. mob. the body.

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this is the news. live from berlin china reports a nother increase in the number of people infected with the coronavirus the figures have gone up after 2 days of fewer cases being registered nearly 90 percent of the new infections are in the city of more than 70000 people have now been infected by the virus also coming up blocking the weapons fueling libya's civil war the european union agrees to renew a naval mission in forcing the u.n. arms embargo but will it be enough and in the buddhist fire.