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tv   Business - News  Deutsche Welle  May 22, 2020 1:15am-1:30am CEST

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you've got to increase military transparency. here watching t.w. news don't forget you can keep up to date with all the latest on our website texting w. dot com you can follow us on twitter and instagram terror m k richards and friend then from me and the entire team thanks for watching. the global corona traces you can find more information online at g.w. dot com and on t w social media channels. this is some. cities will sink into the city of. tire stretches of land will be
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abandoned. and the water striders. massive mortars are supposed to prevent flooding but they only delay the inevitable. future 66 meters rising sea levels starts june 5th on g.w. such. berlin is such become live tons of the biggest stakeholder sore bureaucrats about to call the shots for one of europe's largest airlines will break down what 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 out plenty of debate and a look. this is your business. pork i'm certain there's
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a bill and it's good have you with us germany's flag carrier says it's close to sealing the 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 of but while a deal with berlin would be a lifesaver it does come of costs there have been weeks of wrangling leading up to this point between chancellor angela merkel c.d.u. conservatives and the authentic 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 on salaries for managers and 2 seats on the supervisory board. we have enough feelings on the one hand insolvency is off
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the table or 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 or protection of workers rights. of terms of 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 matan set to work out the details of that they allowed and it hasn't been confirmed yet but we do know is this would be a 3 part package the 1st would be a $3000000000.00 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 percent of tons of 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
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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 percent stake the government has said that they don't plan to utilize these voting rights they plan to be a silent participant but they have said that they could use that that 25 percent 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 look tons investors right now. josie the lady there for us in frankfurt over to the u.s. now where nearly 2 and a half 1000000 people applied for unemployment benefits last week as part of the latest wave of layoffs through the pen demick the u.s. labor department says over 38 and
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a half 1000000 people have now now filed for jobless aid since the coronavirus forced millions of businesses to close their doors risk ill 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 tilts the job losses are temporary that survey recently and 90 percent of people who lost their jobs believe that they will return to work soon that contradicts with a study done by the university of chicago with this week and the result of that
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study shows that about 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. and 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 aid to got increased by 13 weeks from 26 to 39 weeks old the big challenge actually will come later in fall also a lot of people are not paying their mortgages saw their rents but this money is
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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 of now a lot of people they can if needs to 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. or a us court with the latest in new york thank you. well turkey's economy was facing hard times well before the pandemic and now it's in crisis mode businesses
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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. the telephone or devilish and a much now has to drink his tea alone. the once bustling streets in istanbul's world famous hooten amid neighborhood are empty and the mussels will tell 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 early earnings if it goes on like this you'll have a loss of 90 percent. and it's not just the hospitality business government revenues are also taking 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
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now tumbled around 15 percent against the u.s. dollar since the beginning of the year. meanwhile turkey's president wretch of type at all one has blamed the iran's plunge on foreign banks and is calling on citizens to donate to those in need during the pandemic a little comfort for those who've lost their jobs the cost of living is rising. kissing nicholas you get my weekly shopping was less than 150 now i need 300 lire and it's 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 out. a telephone or devilish and doesn't know what will happen next and he has bills and debts to pay and no incoming revenue. it's a bleak forecast ahead of what would have been a profitable summer season. well australia singapore norway just some of the
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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 a demo version has been available simple design 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 telecom the contract was awarded at the end of april its. name. as a spokesperson for the company we knew immediately that we had 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 be developed quickly to cut.
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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 switch to a decentralized solution where the data stays on the phones. 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've had contact with that person for a longer period of time receive a warning message until america has now made the project a top priority. it's nothing new that the development work can take time 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 to really make a difference in the fight against the coronavirus i love the title. all the parties
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involved be it the participating companies or the federal government to promote the idea of german citizens using oh yeah it's m it's the must all come behind us we have to make it clear that this album 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 venesa got a 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 in the d w business teamhair bill and see if there's a as watching the for.
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this woman is defying the regime. but one must move has been searching for her husband and son for years both might be victims of syria's secret service now there's a ray of hope. to spectate henchmen of us on our own from. in germany.
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environmentally conscious living. with maximum comfort. from tanzania is helping make it possible he started with sustainable ideas. he's inspiring others to innovate at his invention school for. in 60 minutes on. carefully. to be.
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discovered to. subscribe to a documentary on. the. hello and welcome to focus on europe and liz show the corona crisis has been dominating headlines for months so much so that it has overshadowed all other topics like the ongoing war in syria.

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