thus the latest developments. you're watching the news always back at the top of the hour with the headlines don't forget you can get all the latest news and information from around the clock on our website. thanks for joining us. each step tells my story. on the people who climbed to me built dedicated mines to me. finally i'm not too dumb to come. on the scene of a mine. in the centuries they built me they created

something truly rushing. out to lunch as i was destroying. i have monta my city's gains for centuries kind of company my country turns fine because until the day i mean leave. not tied down to families stands a fool and. europe's largest economy closes shop as the corona virus spreads germany follows its neighbors and shutters main street businesses in a bid to slow the outbreak its carmakers in airlines are also feeling the pinch. airlines in the u.s. say there they may not make it to year's end now they want washington to get.

$150000000000.00 in help. also on the show france is shutting down public life leading to worries about the availability of food and other necessities. this is your business report i'm stephen beardsley bilin thanks for joining us the german government announced new measures on monday to slow the outbreak of coronavirus in the country closing many retail businesses shattering playgrounds and curbing restaurant hours the decision follows more drastic measures in neighboring italy and france where general quarantine orders have limited public life and hit small businesses especially hard in germany it's the large companies that have been feeling most of the pain so far as trading got underway in frankfurt at the start of the week there was no doubt left germany and its entire economy had arrived in the coronavirus era the benchmark dax index plummeted to begin with despite a late rally the dax closed over 5 percent down and below 9000 for the 1st time

since 2016 the carnage was even worse than other european exchanges than the downward momentum could hold for quite some time even though several central banks have opened the money taps wide. markets will remain volatile i think the worst is yet to come in infection and. then you have to see that time will come where the number of infected starts forming and things come down then markets will recover but right now we're in the center of the virus crisis. cinemas theaters pubs and clubs childcare centers all closed in berlin or as elsewhere in the country like the normally standing room only munich house which is closing on wednesday there isn't a sector that isn't taking a morning from the microscopic monster and the longer it rages the worse it gets for small and large companies the coronavirus is paralyzed the tourism industry

many tour operators including sector number $12.00 we are holding operations for the time being border restrictions and a demand slump of course germany's love terms of to cancel 90 percent of its long haul flights and 80 percent short and medium haul the cargo flights are still operating. if you can afford and we consider it absolutely essential that air freight traffic continues to run smoothly this is necessary to ensure supplies to the population but also to supply manufacturing companies who are at sea and. the german government sees no requirement for economic aid for the hard hit airline industry it says existing measures such as short time pay subsidies liquidity programs and tax deferments should suffice. and meanwhile in the us major airlines are asking washington for 50000000000 dollars in emergency aid to help them survive the sharp downturn in air travel due to the coronavirus the trade group airlines

for america warned that large flyers could run out of cash by year's end it's asking for a combination of grants favorable loans and tax cuts airlines around the world have canceled routes as governments impose travel bans to prevent the spread of the virus. carmakers including volkswagen and chrysler have scaled back production at their european plants as coronavirus restrictions put the squeeze on their production lines they're also facing questions of demands with more and more people forced to stay at home except for strict working needs many forecast a heavy fall in car sales in march folks fagen have been looking forward to a bumper year after the diesel gate disaster but now it's slashing l. put it it's lisbon plant because workers aren't turning up portugal ordered all schools closed in response to the corona virus outbreak leaving many employees struggling to take care of their children. v.w. says it will suspend operations in bratislava after slovakia declared a state of emergency over the virus meanwhile italian american company free at

chrysler says it's halting production for 2 weeks at most of its european plants to help protect staff and adjust to a slump in demand and just days ago when only sam as well as b w c out unit announced temporary stoppages in spain that could last for days or weeks. and francis p.s.a. had hoped to capitalize on the car of the year award for its peugeot 208 model but now it's shutting down its european factories until march 8th well. the new sounds bleak and it is but analysts say europe's car industry suffers from oversupply which an industry wide closure could fix and people in the market for a car will likely still buy one even if they have to wait. and let's look now at how coronavirus is affecting businesses elsewhere in the world italy's economy minister says his government plans to pump some 340000000000 euros of liquidity

into the financial system that represents roughly 20 percent of italy's annual economic output he also unveiled a 25000000000 euro rescue package to protect italians from the fallout of the coronavirus pandemic. the european union says it has no plans to bend the export of medical equipment to nonie you countries that's according to a press representative from the european commission who spoke after the commission adopted a measure requiring authorization from a member state before a company can export medical products. in belgium robots are being drafted into care homes to look after the elderly and chat with them and the program is being rolled out the coastal town of ns a local company supplying $1000.00 of the machines which unlike their human counterparts cannot contract or spread the coronavirus. and with paris is famous restaurant scene shuttered during the coronavirus clampdown

a nonprofit group is making sure the leftover food doesn't go wasted its workers travel around the french capital by bike to collect food from restaurants and caterers before donating it to those in need. and speaking of france the country is bringing public life to a standstill as the country braces for that spread of coronavirus schools restaurants cafes cinemas and other non-essential businesses all shutting their doors all french citizens are being told to stay behind their own doors and that's prompting some panic about the availability of food and other goods. people swarmed grocery stores stocking up on essentials across the country as they anticipated a lock down. the. group i'm getting ready going to shop for my mother stocking up on food for her cigarettes because she's a smoker and then it seems that we are going to be put to confinement in our homes so i'll be staying at home. authorities say the panic buying is not necessary

supermarkets and pharmacies will stay open and the lockdown comes after a spike in coronavirus related deaths in france owners of other stores though are already worried about their economic futures. and. we can't do anything we're forced to close and it's up to banks and insurance companies to take on the economic loss that is going to be enormous for everyone this without them i don't think we can survive this crisis one or 2 months of closure for small businesses like this it's the end. people queued for fuel even though they may soon have nowhere to go but many are taking no chances. now south korea is among the countries worst affected by the new coronavirus by businesses in the country are working together to share the economic burden from cova 19. korean landlords and tenants are sharing the burden of weathering the decline in

business caused by the corona virus outbreak with reductions in rents large traditional markets especially needed the help. we used to get an average 300000 visitors a day. but since the corona virus outbreak began we've been seeing less than 110th of our usual number of customers. business owners here have been suffering immensely. not only domestic sales are affected as international trade has also dwindled especially for small exports. as. korea has a competitive global legend the fashion industry and its products are high in demand overseas but now that foreign buyers can't even enter korea coupled with slowing fabric shipments and fewer visitors to the market overall it's having quite a large ripple effect. in addition to the rent reductions market managers have also

coordinated strict public health responses some landlords have provided up to 50 percent off in rent although smaller reductions are more common but even those providing the discounts argue for more state led measures. complementing revenues of the merchant's biggest concern so tax remedies are needed although the government has announced new tax breaks a lower income tax means little if merchants aren't making much to begin with so many want to see a decrease in value added taxes and then in. the large traditional markets rely on both tourism and elder shoppers both of which have dried up although more assistance may be coming merchants here in schools and empty moon market and around south korea are soon likely to get some more help from the federal government the

national assembly is set to pass a multi-billion dollar supplementary budget to support small businesses and to help contain and mitigate the cove of $900.00 break. the so-called nice landlord trend has also brought banks into the movement with low interest loans as south korea copes with a deepening kovac 19 crisis. and that's it from me and the business team here in berlin you can find out more about these and other business stories online at d w dot com slash business i'm stephen beard so folks are watching.

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