surveillance program. and you're watching news i'm jarid reed in berlin before we go we'll leave you with some music with concerts around the world scrap for months to come many are taking to the internet to harvest free performances for their fans enjoy. it's cool. each step tells my story. on the people who planned to mean. to me. i am not too dumb to. understand mine.

and the centuries they built me they created something truly. too much as i must destroy. i have mocked my cities days for centuries to come to me my country. until the day i mean you've. done differently. dance and fuel and. some stock exchanges cool back games but not all straight despite central banks some leashing trillions in stimulus millions face job losses a crowd of buyers takes its toll. the world economic forum urges companies to work with governments to seoul face crisis and trade fairs go virtual to beat the

outbreak but leave carpenters and caterers high and dry. have been for so long that's their business the last time this happened was the 2nd world war but instead of producing weapons electronic giants sent textile factories a swiss. their production lines for the common good french luxury group which owns you would top and christiane do your is ditching perf you for hand sanitizer tell you textiles firm mean old leo is supplying the state with thousands of face masks smaller companies in italy are following its lead and us older manufacturers are looking at making medical equipment like ventilators which are also in short supply but retooling production lines is complex and costly well there's hope with all the stimulus announced european equities pushed higher friday u.s. stocks fell with new york the latest state people to stay home but firstly the british government is taking extraordinary measures it's promising to pay 80

percent of wages in the private sector it's to discourage bosses from firing staff over lost business from the virus finance minister richie sue knox says they'll be no cap on the size of the plan which the government will fund by selling more debt is also allowing companies to hold on to billions of pounds in value added tax over the next few months. let's look at how the virus is making business headlines elsewhere in the world. can no longer pay its bills the german restaurant chain has been forced to close almost all of its locations due to the coronavirus bankruptcy proceedings are expected in the next few weeks the company is hoping for government aid. luxury carmaker bentley will hope production in the u.k. for 4 weeks the decision was made to keep employees say they're also fears about shortages of parts the british luxury brand is owned by fox bargain which is reducing output across europe. the world economic forum is launching

a coded action platform the 1st of its kind drawing on its network of business leaders it aims to galvanize the global business community for collective action the group is open to all businesses and governments who want to offer their help. study as a he is managing director of the world economic forum thanks for joining us central banks and governments are throwing trillions in stimulus and aid at this pandemic and even then global equities local horrible how can your platform comment best is . so what we're trying to do is one be a source of sort of the best synthesized information from various experts and 2nd try to mobilize business and the service off helping solve the sort of health economic and social challenges that are emerging i mean let's be clear the health impact is what comes 1st but we need to start preparing for managing and

mitigating a lot of the social economic fallout that is to come you know you're absolutely right about that loss of confidence we asked a group of chief economist from across the banking sector the insurance sector and the consumer sector about their views on what the recession and recovery may look like and while a good 30 percent thought that this would be a sort of v. shape but it staggered the shape across multiple economies and there for you shape globally there was a good 30 percent that were completely uncertain and a good 5 to 10 percent that actually were thinking this is going to be an l. shape this is going to take a very long time and the reason for that loss of confidence is essentially because there isn't a belief that there is quarter nation between fiscal and monetary policy despite the very large sums that are being talked about that there isn't that coordination at the international level between various governments of the nature that we saw in

2008 and that there isn't really clarity on what are the pathways with which we are going to deliver it cash in 2 different households yes the kitchen sink approach but then how do we actually get it into the right ten's and then finally there is a belief that employers are particularly prepared right now you know we surveyed our employers and less than 10 percent had ever thought about pandemics as part of their current breast scenarios and less than 50 percent had ever experimented with even part of their team. working remotely that's of course just the white collar workforce so there is this overall sense of uncertainty and anxiety that you're of course seeing across the board so here's a for the loss of confidence there's also a lack of cooperation what makes you think countries and companies are going to start working together when everyone's withdrawing right now people are going local big bads on exports of mosques for example. as the europe has europe or the u.s.

even tried to learn from china's handling of the outbreak because i don't think they have. you know a lot of what we're trying to do as sort of there is of course a call for push for working closely with various international organizations use the forum sort of platform to push for a lot more of that collaboration but the 2nd thing that needs to happen is in addition to the current sort of emergency there's 2 things that need to happen one business needs to be mobilized a whole lot more to actually help deliver some of these solutions that's a large part of what we're trying to do at the world economic forum particularly when it comes to those health related supplies and the 2nd element is we need to start preparing now for understanding what is going to be the impact of these fiscal policy measures that are being put in place in very different ways in different parts of the world what might be the distortionary effects of that what can be done in terms of corrective measures and very quickly crowdsource from the

best experts you know what is the best approach is this about cash transfers directly to households is this about small and medium sized business is this about bailouts of specific industries or some combination of the above and what is that optimal combination i think we have to do at this moment in time rely on expertise rely on information and then make that information very very public very quickly quick and to private businesses on that bailout topic deserve public funds like like boeing for example. you know i think there's a lot of debate on this right now there's quite a bit even before this crisis unfolded there was a lot of views from experts and academics that the situation has gotten to a point where we do need to start thinking about having some sense of better distribution of risks and returns in between the public the public sector and the private sector so i think you're going to start seeing much more of that debate

play out as any of these measures go ahead of course different economies have different sort of almost cultural views when it comes to this and i think that's going to be a huge part of the factors that are taken into account as well as audio message and director of the world economic forum thank you very much thank you as public life in germany slows one sec to really hurting is a vents in addition to the concerts and conferences that have been cancelled trade fairs a struggling. for the time being there's still some work for d. for projects building modules for the interior fittings for a museum normally this workshop is a hive of activity $26.00 carpenters and painters usually turn out stands for trade fairs in germany and abroad but those fares have been cancelled or put on hold for now. and those parts worth the i t b they came straight back on opened. over there you've got singapore i was also

canceled. the whole stand for singapore all scrapped the cancellation of the i.t.v. international tourism fair and other exhibitions means that d. for project is only making 15 percent of the sales it made at the same time last year that's only enough work for 4 or 5 employees 2 weeks from now there's nothing on the schedule what happens then. i have no idea at the moment we've applied for short work subsidies we've been authorized to cut back on working hours starting today and we will we started today but we began in the back office and will have to extend it to all areas beginning in april we're hoping that by then the state will be helping us out in a big way. from start to. exhibition and in that cater a veto is also feeling the crisis where normally there would be piles of small snacks and tidbits now all empty a veto founder alexander shot has put most of his staff on home office for the time

being the few remaining are working on new concepts for the current landscape. and if it is that we haven't had a lot of socializing lately that means we've obviously had a few olders trade fat as conferences meetings being cancelled people are working from home from the home office they cater is now trying to concentrate on critical employees who cannot work from home and puts together lunch boxes for them . in berlin future events are. still in jeopardy officials want to build a hospital that would treat up to $1000.00 corona in fact patients and one is now an exhibition ground that's bad news for the event's industry and for if there's going to be a hospital it's logistics base now won't be enough room for future trade centers for me that's going to be a massive limitation change and so far industry association estimates show that event sector companies have lost 2000000000 euros due to coronavirus related

cancellations but that number could still rise significantly. french bookseller's a calling for restrictions to be lifted to allow them to open for at least a couple of hours every day they say if online retailers are allowed to keep selling their wares so should they maybe in germany has ground to bookstores exceptions france's economy minister poor man has pledged to look at the issue saying book shops are an essential business. and one sector in which jobs are growing our supermarkets some of the big retailers the rapid sizing for tens of thousands of temp stuff to deal with the panic buying will need lots of people to stop their shelves with toilet paper nice and business with it.

on the road with our superhero. my mission is clear. and to me constantly should explore germany. and everything else there's a lot going on in. germany tried and tested change in. mood

on d w. how does a virus spread. why do we panic and when will all this. just 3 of the topics that we've covered and the weekly radio show it's called spectrum if you would like and the information on the coronavirus or any other science topic you should really check out our talk cast you can get it wherever you can get your podcast you can also find us at d.f.w. dot com one slash science. news day it is. to get over now live on the show that of us are. in support of. what's a big what's able. to be a book. hello

and welcome to tech and today i want to take a little break from traveling but that doesn't mean we haven't prepared an interesting show for you i'm standing in front of berlin's museum island which is

a unesco world heritage site all across the globe there are more than $1000.00 designated sites and every year the list grows along.