inflicted. in 60 minutes on d.w.p. . students people who world over information provide. the pennines they want to express g.w. on facebook and twitter up to date and in touch follow us. could the spreading coronavirus force the e.u. to loosen its budget rules with case numbers growing in italy germany and spain more member states are considering taking on more debt to drive the battle against the disease. also on the show buyers says its chairman is stepping down early as the company continues to wrangle with tens of thousands of lawsuits over the we kill or round up. and cash strapped cuba began selling used cars if only the

average cuban could afford them. this is your business report and i'm stephen beers in berlin it's good to have you with us tourists numbers are down and concerns are rising across europe the spread of the coronavirus is already hitting economies across the continent many of them dependent on chinese tourists who haven't been coming for weeks now with local cases of the virus also on the rise in italy spain and germany more governments are considering debt heavy stimulus packages a top e.u. official has now signaled approval. the eiffel tower is a must for tourists visiting paris afterwards they might go on a shopping spree normally there's a long mine in front of the louis vuitton store on the show said easy but not today the economic effects of the coronavirus can be felt in this duty free shop as well . and you know business is bad 60 percent of our customers

come from china that means 60 percent less business doesn't want brussels made no prognosis on wednesday about how strongly the e.u. economy will be affected by the coronavirus outbreak of g.d.p. but in many e.u. countries people are talking about economic stimulus packages the e.u. economic affairs commissioner made it clear there could be exceptions in the e.u.'s otherwise strictly regulated debt policies and austral. as it stands right now the stability and growth path it. contains clauses for flexibility. that should cause it's own that they're linked to exceptional circumstances. in the coming months we'll talk with our member states about the conditions under which these exceptional circumstances can go into effect will give you. the

stability and growth pact could help italy in its time of need. it's one of the most heavily indebted countries in the e.u. that's why brussels has imposed austerity measures on rome italy is also the e.u. country most affected by the corona virus outbreak and it's not just the tourism branch it's affecting the industrial center of the country lumbar to the entire towns have been cordoned off companies are canceling work related travel and many are now working from their homes. of going to new york now and talk with our financial correspondent there yes korda yes wall street was pretty unsettled by the krona virus on monday and tuesday is there any better news for the markets today wednesday. well it was an extremely wild trading session here on wall street at some point it did look like quite a comeback kid blue chips up by more than 460 points or about. one and a half percent but then all of

a sudden the market started to drop and by the end of the day blue chips traded to the downside by a good $120.00 points a dropping below the crucial 20000 point mark because of those wild swings actually automated computer systems might have played a role but overall the story is that most investors on wall street are convinced that earnings of big u.s. corporations will suffer due to the coronavirus and that we actually might see in other year of pretty much flat earnings growth here in the united states and we also did see pressure once again on the price of oil and therefore we saw some of the big oil companies being among the biggest losers so no real comeback here on wall street yet the heat on wall street is still on or a court of the 1st in new york thank you. let's look now at some of the other business stories making headlines. apple chief executive tim cook said the company

will open its 1st physical retail store in india and 2021 speaking at the company's annual shareholder meeting cook said apple would start selling its products online and india this year and will open its 1st apple store there next year u.s. president donald trump visited india this week. microsoft has lowered its revenue estimate for its personal computing business in the current quarter company said the corona virus outbreak in china will impact its supply chain and that will weigh on sales of windows software and surface tablets the news that microsoft shares lower in after hours trading. air france kaylin calls the coronavirus impact on the airline industry brutal its carrier cayle it is making budget cuts due to slowdown in business it's cutting back on hiring new staff and external consultants delaying new i.t. projects and office refurbishment plans as well as significant significantly reducing travel expenses. the german airline tuns is also feeling the pinch

announcing a recruitment freeze its cutting costs after flights to mainland china and hong kong were put on hold due to the corona virus outbreak tons of shares have suffered over the past week falling by 14 percent. now another company grappling with the growing impact of the corona virus outbreak is french car giant p.s.a. peugeot citroen when the firm actually defied a sales drop to report record profits 421000 head of its merger with chrysler thanks mostly to rising sales of price your s.u.v.s but the company racked up major losses in china and it was forced to stop production at its plant in china which is the epicenter of the corona virus outbreak. buyer has announced that its chairman vanna venning is stepping down from his post at the german drug and chemical giant 2 years earlier than expected the company is due to present its annual report for 21000 on wednesday but the focus will be on its legal conundrums over the we kill

or roundup. then a vending seen here on the right was chairman of the board during the company's acquisition of u.s. seed and farm chemical company monsanto in $28.00 teen but the $63000000000.00 takeover turned into a problem due to exposure to legal troubles involving the weed killer roundup. users have filed thousands of lawsuits in u.s. courts alleging that the active ingredient in the herbicide seat causes cancer in august $28000.00 a california jury awarded almost $300000000.00 in damages to a groundskeeper in the 1st round of lawsuit. the amount was later reduced but juries of found buyer liable in 2 other cases prior denies the allegations and is appealing all 3 cases the company says the weak killer is safe fighting the costly lawsuits has weighed on the value of partner shares since the acquisition of

monsanto in june 28th seen the share price has fallen sharply though it has recovered some of the losses in recent months shareholders have criticized the company's executives for underestimating the risks when it bought monsanto last month the german business daily hundreds but reported that fire was considering stopping retail sales of rifles seat while continuing to serve farmers. over a lot american our cash strapped cuba desperately needs foreign currency the government has now ordered that highly desirable products like cars can only be sold in u.s. dollars including at one secondhand dealer and havana. a typical cuban vintage the tourists love them but they're not exactly practical many cubans dream of owning something a bit smaller up to date hence the long queues at the 1st dollars sale they say man is one of the lucky ones. to put. the price was still

a bit high. but never mind you just do your best to get your family around. the prices are indeed some want steep this exchanged hands for $80000.00 twice what it would have cost me us. but if i want to pay that. for a car no way. and we hope that the government has a rethink and starts lowering prices. just one in 20 cubans. most people here have barely enough money to survive and so as long as the prices for used cars remains so high most will simply have to hang on a while longer. then over to the us where it's the end of an era in entertainment disney's long serving c.e.o. has stepped down bob iger lead the company through its takeover of 21st century fox

and its recent launch of streaming service disney clus he has the keys to the magic kingdom to another longtime company insider his resignation surprised many disney c.e.o. bob iger longtime head of the multi 1000000000 euro and iconic entertainment empire . he oversaw some huge acquisitions over 15 years as c.e.o. 21st century fox pixar and the star wars studio lucasfilm and more recently launched a netflix rivaling streaming service disney plus. under iger last year's top 5 blockbusters walt disney movies and the box office record was also set by disney disney plus its streaming service already has $28000000.00 sign ups widely seen as a successful start business is booming despite several parks being shut in east asia due to coronavirus fears hurting disney stock prices in the short term as a result. his success is the reason for change according to uyghur now is

a good time to make the handover to another long time disney insider bob. ordinarily urged by. and this weekend sees riyadh host the world's richest horse race the saudi cup which has a purse of $20000000.00 now the race takes place at the king abdul aziz racetrack and is expected to attract up to 10000. spectators gambling is illegal in saudi arabia but the country is keen to learn tarus and polish its battered international image the winner of the cup trots off with a cool $10000000.00. that's it for us thanks for watching.

cutting through the noise. where i come from people are known for being tough but fair to your computer loud people tell it like it is. they call it the concrete jungle melts in congress city that never sleeps it's this energy that makes it feel like home but amid the hustle it's important to listen and pay attention because it's not just the loudest voices who needs to be heard we all have

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