tv Business - News Deutsche Welle May 21, 2020 11:15pm-11:31pm CEST
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trip into the city last week about 20 of them including piglets from the family. they roamed in southern districts of saying the dog the police arrive to talk straight to home safely. this is d w news live from brother stephen biz they will have your business update in just a moment of world news at the top of the goodness. why subscribe to dig over your books you meet your favorite writer sometimes student calls me. you have to respond to the books. like. oh. my god says. food for the russians so.
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steve. so many different walks of life. some are pumping and honestly trying to put all of this comes straight from the heart to receive even when there's no more delusional. from the 1st glimpse of the long road to their final resting place the russians are t.-w. documentary. berlin is that's become tons of biggest stakeholder sore bureaucrats about to call the shots for one of europe's largest airlines will break down what a 9000000000 euro deal could look like. also on the show the jobless numbers keep rising in the u.s. it's what all american workers see when they look into the future for correspondent . and germany develops a public coronavirus album now plenty of debate and
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a lay. business report i'm certain there's in berlin it's good to have you with us germany's flag carrier lufthansa says it's close to sealing a deal with the german government to secure a 9000000000 euro rescue package and the airline and its subsidiaries have been hit hard by the coronavirus pandemic and the resulting plunge in travel daily passenger numbers in april were less than one percent of the prepared demick average for live tons a deal with berlin would be a lifesaver it does come with costs there have been weeks of wrangling leading up to this point between chancellor angela merkel the c.d.u. conservatives and the extent to left junior partners the s.p.d. the rescue deal is worth 9000000000 euros full of tonnes of giving the german government a sizeable stake in the company and here's what the government wants in return no dividend payments for shareholders limits and salaries for managers and 2 seats on
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the supervisory board. we have mixed feelings on the one hand insolvency is off the table create security on the other hand there are no stipulations as to what this tax money is going towards we've not seen climate targets for protection of workers' rights. lufthansa shareholders will still need to approve the deal and then comes brussels the e.u.'s competition authority has to give its blessing for the rescue to go ahead. so a bit of a slog by both sides just to get where they're at now and more left to do what with this deal mean for the tonnes a we asked our correspondent in frankfurt to break it down. it's taken weeks for the german government to work out the details of that they'll out and it hasn't been confirmed yet but we do know is this would be a 3 part package the 1st would be a 3000000000 euro loan from the german development bank but where the controversy really lies in the other 2 parts so that the german government would buy about 20
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percent of tonnes shares and in addition to that they would buy what's called a convertible bond and what that means is that it's debt that the government would be able to turn into stock if it wanted to if it would pull that lever they would have a 25 percent stake in left. and that number is really important because it's the threshold at which the government would be able to overrule all other investors if they wanted to block any sort of corporate strategy change they would have the power to do that with this 25 per cent stake the government has said that they don't plan to utilise these voting rights they plan to be a silent participant but they have said that they could use that that 25 per cent stake if for example the company is facing some sort of hostile takeover situation and that's what if situation is really what's worrying tons investors right now josie delaney their force in frankfurt over to the us nowhere nearly 2 and
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a half 1000000 people ploughed for unemployment benefits last week as part of the latest wave of layoffs through the pen demick u.s. labor department says over 38 and a half 1000000 people have now now filed for jobless aid since the coronavirus forced millions of businesses to close their doors were skilled down operations another 2000000 people have sought aid under a new program for self employed contractors and good workers who are now eligible for assistance for the 1st time. and that's good our financial correspondent in new york yen scored a. whopping 39000000 people now out of work in the u.s. what's the mood like among normal americans are they optimistic or pessimistic about the future well i'm not certain if i would necessarily call it optimism but at least there is some hope that most of sold the job losses are temporary if they had been a survey recently and 90 percent of people who lost their jobs believe that they
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will return to work soon that contradicts with a study done by the university of chicago with this week and the result of that study shows that 40 percent of those shops might not come back that sue and if i look around here in my neighborhood at least slowly some businesses are reopening the local flower shop but for example or the dry cleaner but as you might see in the background most store fronts i'm still are closed. the social safety net looks a little bit different in america than many other nations are unemployment insurance and stimulus checks enough for most americans who are out of work. well so far so good because the u.s. government extended the period for as long as you can get unemployment aged got increased by 13 weeks from 26 to 39 weeks old the big challenge
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actually will come later in fall also a lot of people are not paying their mortgages saw their rent but this money is not forgiven so the bill will come at some point in the future i also see it when i talk to people a lot of them have not gotten the full amount they were promised to to receive and some people haven't gotten anything at all so it really is pretty much also depends on the area on the states where there are vast differences as well but as i said so the big challenge will come and as off now a lot of people that can at least so why was this money coming from the government but those programs also will expire later i believe by the end of july and congress has already hinted that they might not extend some extra money that a lot of people who are out of work receive at the moment. in new york thank you.
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well turkey's economy was facing hard times well before the pandemic and now it's in crisis mode business has plummeted and the value of the nation's currency the lira has fallen much of turkey's debt is in foreign currency and that means it's getting a lot more expensive to pay down. patel owner definition the motion now has to drink his tea alone. the once bustling streets in istanbul's world famous hooten ahmed neighborhood are empty and the mosul hotel has been closed since mid march. to resume season here kicks off in march and then we usually have some very busy months until november but so far we were only able to make 10 percent of all your only earnings if it goes on like this we'll have a loss of 90 percent. and it's not just the hospitality business government revenues are also taking
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a hit due to the lack of tourists turkey's government will need to service an external debt of some $170000000000.00 by the end of the year the turkish lira has now tumbled around 15 percent against the u.s. dollar since the beginning of the year. meanwhile turkey's president recha type at all one has blamed the iran's plunge on foreign banks and he's calling on citizens to nato to those in need during the pandemic a little comfort for those who've lost their jobs the cost of living is rising. kissin nicholas my weekly shopping was less than 150 now i need 300 lire and still not enough everything is so expensive. i suffered a lot my company didn't support us the state isn't protecting us no one is helping . tell owner. doesn't know what will happen next and he has bills and debts to pay and no incoming revenue it's
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a bleak focused ahead of what would have been a profitable summer season. well straight singapore norway just some of the countries that have developed in mobile app to combat the spread of across a virus missing from that list is germany its own effort to create an app has turned into something of a mess with data privacy concerns looming large over the process now things finally seem to be moving forward. the german coronavirus app will look something like this for a few days now the demo version has been available simple designing easy to use so what's all the fuss of the last few weeks been about the german government isn't taking any chances they've commissioned s a p germany's launch a software company with the apps development and s a p is collaborating with another tech giant georgia taylor come the contract was awarded at the end of april its specialist name as a spokesperson for the company we knew immediately that we had
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a lot of work to do and if it's an obligation but of course also when honor expectations are high that the apps can we develop quickly to cut. in april the chancellor's office was in. trouble it had proposed an app that gather data on centralized servers data privacy groups warned that the system would be too hacker prone the government switched to a decentralized solution where the data stays on the phones. the app uses bluetooth to determine which other smartphones have been close to you and for how long if an app user tests positive for the virus all the people who that contact with that person for a longer period of time receive a warning message until america has now made the project a top priority that's identical solve it it's nothing new that the development work can take time and the app has to inspire confidence but the work is now being fast tracked not. experts say that around $50000000.00 germans would have to use the app
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to really make a difference in the fight against the coronavirus i love the title. of the parties involved be it the participating companies or the federal government who promote the idea of german citizens using oh yeah it's him it's the must. do we have to make it clear that this out of will not suddenly eliminate the virus instead we have one approach out of several to at least slow down if not stop the chain of infection allston many so go into question cohen still the project is gaining a lot of attention the german corona app is scheduled to be launched in mid june. that's it for me and the d w business to see if there's like it's watching. environmentally
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school eco africa. next on t.w. . conflict in march prime minister open secured an open ended right to rule by decree in order he said to fight the coronavirus problem that makes my guest this week from budapest this fall i should have a geek a home getting any piece from the ruling field best party is the government being honest about his motives or is this new law just the latest move to cement the oath or attorney in lieu conflicts of. being 60 minutes on the job. when the water rises cities will sink into the sea. entire stretches of land
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to be abandoned. and the water used. to be stopped it's happening faster than anticipated. massive greek chorus are supposed to prevent flooding but the. only delayed the inevitable. how will we live in the future. 66 me busy sea level street starts to set on g.w. . a very warm welcome to this week's episode of africa i am saundra to know coming to you from kampala here in uganda the pago buffet where we do start by asking you did
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