beethoven is for me. is for. beethoven is for. beethoven it is for. beethoven it is for every law for the main $22200.00. 50th anniversary on d w. the 1st. more trouble ahead as the e.u. is chamber of commerce and china is warning business to get ready for much more disruption thanks to the coronavirus also on the program pure coincidence or a post breaks it's the e.u. is expanding its list of tax savings and it includes a british overseas territory and as arabian struggle under

a collapsing currency and u.s. sanctions getting their hands on foreign money has become difficult now and can help. i'm chris colfer in berlin good to have you with us the european union's chamber of commerce in china is warning businesses to get ready for much more disruption thanks to the coronavirus the cove in 1000 outbreak has forced a lot of companies in china to throttle back production or halted completely and that's having massive international mark on the facts supply chains are being disrupted by production shutdowns and transport shortages. now the european union's black list of tax havens is getting longer brussels says there are now 12 countries helping tax evaders conceal assets from authorities alongside older entries like oman and samoa there are now 4 new additions and those

are seychelles. the cayman islands and panama now the cayman islands all particularly notable here in this post brags that era because they are the 1st british overseas territory to be blacklisted. tax havens offer the chance to hide money easily and quickly in entities like foundations or companies that only exist on paper a straw man a woman function is there to chill or owners hiding the real owners everything is top secret until in 2017 the panama papers exposed it all to the bright light of day giving the public an idea of the scale of the problem celebrities like soccer star lionel messi or iceland's prime minister david soon were among those exposed a wave of outrage followed when politicians promise to get tough. the e.u. says the mere threat of a black listing was enough to put mines to work. we'll see that there's this least

. companies world wide to improve governance standards and strengthens the fight against that that's abuse to date docs systems 95 countries will be examined and most of them will comply it was good government standards apart from countries like the cayman islands that is until now british influence is shielded its overseas territory brigs it has changed that blacklisting the caymans is being interpreted as an e.u. warning there are fears that following brags that britain could become a gigantic tax saving on europe's doorstep the city of london already office several advantages in this respect and the caymans the only tax haven being protected by britain. for more on this let's cross over to frankfurt and our financial correspondent conrad who is in colorado what do you make of the timing here so it's about 2 weeks after britain left the european union and now the e.u.

is going after u.k. protected tax havens is that just pure coincidence. no it's not a coincidence that the united kingdom has nothing more to say in the group of government leaders of the european union so. something like the cayman islands so it's always been that tax haven is finally also called a tax haven and also we shouldn't forget that in about 2 weeks time boris johnson the prime minister of the united kingdom will come out with his budget he already talked about how this is going to be a very exciting budget of the government leaders of the european union will likely take a very close look of on what's coming out of london there also in light of you know the ongoing negotiations between the e.u. and the united kingdom yes and what are financial experts in frankfurt saying when

they look at the u.k. as a whole is there in these polls times. the danger that the u.k. might become a large tax haven themselves. well e.u. officials have already said that they definitely want to prevent the united kingdom from becoming a 2nd singapore which means those statements mean that of course the european union is afraid of it and of course people here in frankfurt in the financial world are taking a close look at the developments the make or break point will be the negotiations about the future of the banks of course the banks in london in future have a bit more freedom but europe is also an enormously important market for those banks so it's quite likely that also in the future the e.u. you know the commission the european central bank will have an influence on how business is done in london conrad burns in frankfurt thank you. let's return

to our top story now that used chamber of commerce in china warning businesses that there's much more disruption ahead because of the new coronavirus for more than spring indeed abuse old son han in taipei so what is the situation like what are you hearing well under current travel restrictions factory shutdowns and according to measures imposed on businesses a big portion of china's migrant workers they have the workforce it's still in limbo because according to the ministry of transport only less than one 3rd of china's migrant workers have returned to their job post and if we compare the traffic volume it's about 20 percent of the volume a year earlier so now the chinese government is trying to get people to do home offices but many affect terrain and service sectors they just don't have the luxury of working from home so that's why are now more and more local authorities they

come up with like food transportation or stuff that they transport for them in order to get these workers to come back to their work post as possible and so if the e.u. chamber of commerce in china now is essentially saying there's much more trouble ahead what does that mean for these businesses already facing difficulty. well it means more job losses and leave without pay because nobody knows how long this situation will last and it goes very closely with that the men of the outbreak and the chinese government's senior medical advice has said that this outbreak is hitting a peak this month and will probably end by april april is the key month for many small business to survival because their cash flows are really tight right now if the government cannot control the disease by april and more and more business would have to move their production line is that of china to places like taiwan and south

korea and japan and by then we probably will see the world moving into a completely new paradigm and what impact will this have on the chinese economy well the impact is very clear if we look at the g.d.p. as the nation china has a $6.00 g.d.p. growth last year and it was widely expected that before the outbreak it would now's the g.d.p. growth target for 2020 by around 6 percent but now more and more experts believe that the g.d.p. growth would jump would drop to 3 percent in the 1st quarter and 5 for the whole 2020 so things just don't look great now. don't be correspondence old sign hannan type thing so thank you very much it's around now and the currency there of the rio has been plummeting and there indians have trouble getting their hands on hard currency because your sanctions have cut off

their country from markets that makes life particularly difficult for those who want or need to travel or study abroad some see cryptocurrency use as a tool to help solve the problem and the arabian startup is providing a tailor made. exchanging currency on the black market on tehran streets for most iranians it's the only way to obtain dollars or euros at the moment united states sanctions have completely isolated the country from international financial systems many of forced to accept the cutthroat rates imposed on the black market business people who want to travel to europe for instance or young people studying abroad who can't pay their bills their withering in rio. studying in france face the same problem to listen to your old discover to know while visiting back home in tehran that allows users to transfer their reales into western countries via the bitcoin platform yeah are you alternatives the only

solution left for me these 2 go back home and take money with me every month the fast chain app was developed by a tehran startup the young entrepreneurs behind it operate an online platform which uses bitcoin to transfer small amounts in euros dollars or swiss francs the founder say they can handle any amount of to $4000.00 euros and it works the other way around as well if someone wants to pay for an iranian hotel room from europe for instance. when tourists come to iran they can use our software and simply pay with their visa card. and we convert the currency. and the recipient like a hotel gets the money in iranian reales from us. you can also use the platform for other e-commerce operations. it could also

be interesting free reign in companies wanting to buy goods in the west. or europeans who want to do business in iran but using crypto currencies is not easy. head of germany's terran chamber of commerce says foreign companies especially have to follow the laws and regulations down to the last letter. this country it's never clear what's been approved such as how crypto currency is can be used for medium sized enterprises indeed for a prospective to be honest i hope we can get rid of the sanctions before we are forced to fall back on cryptic. he could have to be a. change found emma and his team see all sorts of uses for their portal but their hopes for growth are riding on the $20000.00 or so rainy and students studying abroad students like saga who spread by word of mouth and

transfer as much as 10000 euros a year with. and finally italy's biggest lender intense has launched a $5000000000.00 euro takeover of smaller rival u.b.i. baca made the bid after u.p.i. announced it would cut 2000 jobs together the banks would have revenues of 21000000000 euros have long called for consolation in the italian banking sector which is vulnerable because of his exposure to italian government debt. and the program if you want more go ahead and check out our website at v.w. dot com slash business i'm chris thanks for watching.

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a home worth saving. google ideas tells stories of creative people and innovative projects around the world is the protect the climate boost clean energy solutions and reforestation. using interactive content to inspire people to take action google audience and series of google 3000 on t.w. and on mine. hello and welcome to arts and culture when we think of classical greek and roman sculptures we usually see them in white marble but that's not how they were meant to look to german archaeologists husband and wife team have recreated these figures as they appeared thousands of years ago that story coming out and

a vegetarian chef with a michelin star takes us into his kitchen and out and so the garden to explain his sustainable food losses. but 1st filmmakers and stars are descending on the german capital for the 70th brylin international film festival today it's one of the biggest film festivals in the world but 7 decades ago the festival was a lot smaller for bally nala as it's also called was actually started by the u.s. military in what was then occupied post-war germany a new photo exhibition shows us berlin's changing glamour through the years. gary cooper. and jane fonda since $951.00 movie stars have enjoyed coming to the international film festival. and fans love the chance to get up close to stars like george clooney and léonard to cap. the exhibition in

a book features highlights from more than 6 decades of pictures taken by.