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tv   Business  Deutsche Welle  February 27, 2020 10:15pm-10:31pm CET

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1st tentative steps outside the unnamed cub and its mother have been holed up in a den since it was born in december. the youngster will undergo a bitch mary check in the next few weeks to find out because we still don't know whether it's a boy or girl. still waiting for him and you're watching the news stephen beardsley will be up next with business stick around we'll be right back. have fun in pyongyang. the capital city of north korea is reinventing itself. but only a few can enjoy the benefits of those the regime alone. kim jong un has introduced n.c.v.s.
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reward system to coerce allegiance to the regime. those who don't make it into the fun metropolis often tom very. kind of fun in pyongyang starts february 28th w. . story so that people will hold on for t.w. on facebook and twitter up to date and in touch follow us. market losses continue as fears bounce over the coronavirus wall street suffers a 6th day of selloffs with more businesses curbing their operations and lowering earnings projections we'll bring you up to speed. also on the show china is trying to get business back up and running but with coronavirus case number still rising.
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it has a ways to go. and the u.k. puts on its poker face before next week's trade negotiations with the e.u. brussels call its bluff. this is your business report i'm stephen beers in berlin thanks for joining us u.s. markets fell for the 6th straight day on thursday as major companies continue to curb their operations and slash earning projections as a result of the spreading coronavirus best p. $500.00 tech heavy nasdaq index is ease each lost more than 4 percent or crude oil prices continue to slide falling more than 2 percent to $52.00 a barrel. analysts at goldman sachs have even projected the u.s. businesses might see no earnings growth in 2020 if the virus continues to spread. and let's go to our financial correspondent in new york yes quarter for more on those years we've been talking about these losses for a few days now they seem to be getting worse can you put this in perspective for us
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how big are these losses it's quite massive what we're seeing in especially in the last hour of trading here we saw pressure even increasing chips and losing almost 1200 points down by almost 4 and a half percent and this week alone so far we lost more than $3000.00 points in the dow jones industrial average we have seen such a week since the financial crisis of 2008 to almost every day on the almost every day we get more and more companies lowering their forecast to do the corona virus and for the 1st time so far some investors are even talking about panic setting in here on wall street. panic potentially setting in and i'm guessing that means that a floor to diss is not visible yet. well it's possible every time that we might see a little rebound after those heavy losses but a lot of the questions will not be answered any time soon the best would be if we
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would find a cure against the corona virus if that's going to happen nobody can tell at this point and you mentioned the prognosis from goldman sachs that there won't be any profit growth for the s. and p. $500.00 companies this year i'm not quite sure. if it really makes sense to come out with such programs as that this point but what will matter is if the consumer actually is going to keep spending money the u.s. is a country that does not live from trade but mostly from consumption that will be one of the keys if we can stop the bleeding here on wall street. keeping an eye on things in new york for us thank you. china is meanwhile reporting a rise in new cases of coronavirus and that puts a damper on talks of a gradual return to business as normal factory shutdowns have been widespread in
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the quarantine measures but some are reopening and container ports are starting to loosen a huge backlog of cargo for the shopping district of 101 month into the coronavirus crisis some of the shops will probably be out of business for good. experts believe that many of china's small and medium sized businesses won't survive the corona epidemic. it's a heavy blow for around 80 percent of chinese workers who depend on such companies for employment let me know how fond of. fatah the government is taking action in the hopes of saving those jobs each year by across. the state council's executive meeting has decided on the temporary extension of loan repayments and on raising preferential loans. the good arrangements have also been made to increase support for home based companies. should you try. to hobble
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full with a small and medium sized firms as well as all businesses in who won't have to pay employers contributions for social benefits from now through june taxes electricity and gas rates have been lowered the state is also likely to help pay many workers salaries those infected with the coronavirus or under official quarantine have so far continued to receive their pay that's an item that small businesses in particular cannot afford for a long. let's go back to europe where britain and the e.u. are putting on their poker faces with post bragg's that trade negotiations set to begin next week let's take a look at both sides stances now the e.u. is offering a comprehensive free trade agreement with 0 tariffs and 0 trade quotas but brussels has sets of additions on agreements 1st among them the british companies comply with e.u. standards on such things as occupational safety or environments and the u.k. rejects that very premise is saying that it left the e.u. just to escape such regulations and there's also
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a big dispute over this fish the e.u. wants to maintain its fishing quotas in british waters the u.k. on the other hand wants to decide for itself who is allowed to fish in its waters but brussels says access to the e.u. financial market which is critical for london's big financial firms will only be open to britain if all other issues are resolved 1st and the u.k. wants unrestricted access to the continent and it says that each element of a deal should be negotiated separately from the others this of. it's better to have no deal than to compromise that's the message coming out of london at the end of the transition period on the 31st of december the united kingdom will fully recover its economic and political independence we want the best possible trading relationship with the e.u. but in pursuit of a deal we will trade away our sovereignty sovereignty britain wants to make decisions without being forced to abide by e.u.
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regulations one of the main arguments of bricks and supporters but brussels insists that there will only be a free trade agreement if britain continues to comply with european standards in the future. we want competition to free true that most to be fair share and treaty treaty and share the e.u. is demanding that worker protection and environmental regulations and tax plan. meet e.u. standards british prime minister boris johnson says that's absurd the whole objective of doing what we're doing is so the u.k. can do things differently and better when we're going to engage in some race to the bottom we can maintain the very standards we want. you know mutual recognition of each other's high standards and access to each other's markets. if there's no agreement by june britain is threatening to cancel on the go
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she asians and brussels has also signaled that it's prepared if the 2 sides failed to seal the deal. and let's take a look now at some of the other business stories making headlines. air france says it's cutting 1500 jobs mostly ground staff by late 2022 the carrier is also slashing costs to offset the impact of the corona virus outbreak air france is one of many airlines that have suspended flights to china. a u.k. court has blocked plans for a 3rd runway at london's heathrow airport as a landmark $53.00 for environmental campaigners the ruling could sink the $18000000000.00 project which aims to make europe's busiest airport even bigger the court said the plan didn't take into account the paris agreement on climate change . chinese telecoms giant huawei is planning to build its 1st european 5 g. manufacturing plant in france the world's biggest maker of telecoms gear wants to soothe fears that beijing is using its equipment for spying on huawei chairman
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young quad said the mobile bay station plants will create $500.00 jobs. well after a lengthy process to find the right suitor germany's ailing steel and industrial giant to send troops has finally sold its profitable elevator division for $19000000000.00 the buyers an investment consortium led by advents and send in and the aboud dobby investment authority. urban farms are sprouting up across major cities around the world and they found a clever new supplying sustainability minded restaurants while highlighting efficient ultra compact farming techniques entrepreneurs in brussels now have their own take on the idea they're growing mushrooms using grain from the country's famous breweries a belgian beer in mushroom form. on the right side you have an. urban farming entrepreneurs in brussels growing fungus in the
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city center in a film a slaughterhouse. orange and also very gloomy so use it. means a soap press preparation so many so they were already sustainably growing micro greens and had heard a rumor. we had heard that spend grain from beer could be used as to grow mushrooms but we didn't know if it was really true it was just something that worked a bit so we tried 1st in small quantities then bigger and bigger and then we found that it works really well actually used grain from belgium's famous breweries is a nutritious basis from which to grow mushrooms the grain would otherwise go to waste. the company to brew sell supplies local shops and restaurants by bike it's an example of a locally connected sustainable of business. and speaking of beer the corona
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virus has claimed one of the world's most popular beers some people have been confusing the mexican beer corona with the new disease there's been a huge increase in online searches for the terms corona beer and virus according to data from you gov the so-called purchase intense among adults in the u.s. has plunged to its lowest in 2 years the damage has worsened in recent days as infection spread shares of corona brewer a constellation brands dove 8 percent this week in new york. and that's it for me and the business team thanks as always for watching.
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into the conflict zone with tim sebastian 16 months of go guy since the saudi justice jamal khashoggi was killed by agents of his own state my guess is. the saudi minister of state for foreign affairs while this still so many unknowns have questions about the wind
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a massive crackdown on human rights activists inside saudi of. conflict and the deal with the world in 60 minutes the phone d.w. the. lawyer. culture. hair. superman. superfood stylish style icon. lifestyle you're a hero. on w. w's crime fighters are back again africa's most successful in radio drama series continues. this season the stories focus on hate speech culture of prevention and sustainable chocolate production. all of a sow's are available online and of course you can share and discuss on africa's
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facebook page and other social media platforms. crime fighters now. i'm sure that it goes on. in support of. what's able. to be about. guns. this is. coming up on the program taking on the top gun students gets the france court hearing after. 70 full blocking him on twitter also coming out. of germany's presidents visits refugees in alton kenya where food is scarce and expensive. hot and no one using to break down the
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bars in conservative tokyo.

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