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tv   Business - News  Deutsche Welle  June 26, 2020 5:15am-5:31am CEST

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fans gathered at the club stadium and fill to celebrate despite calls to avoid mass gatherings due to the coronavirus liverpool one playing on thursday but they secured the title after their closest rivals manchester city lost to chelsea even club as a 1st german coach to win the english premier league. you're watching news don't forget you can get all the latest news on our website at speed of you dot com i'm talking a lot of thought in berlin and i'll be back at the top of the hour. when i subscribe to do you know where your books are something more in the world we may . capture for. me books are known to. beethoven is for me. beethoven is for you. beethoven is for help. for
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a token is for. plato for is for the. beethoven is for us. beethoven is for. beethoven 2020 the 250th anniversary here on. no crash landing for germany's biggest shareholders have overwhelmingly backs and 9000000000 euros the government rescue package. german film tax tech firm y. card files are insolvency what's being called a number parallel scandal. the lines keep getting longer yet more names on the
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u.s. jobless register. and we travel to ivory coast to see the disastrous impact of coronavirus on a community that hasn't even reached. this is deemed to be a business on robots in berlin welcome along the dancer shareholders have voted in favor of the german government 9000000000 euro rescue package for the airline the bailout for make the german taxpayer the biggest shareholder in the country's largest carrier with a 20 percent stake of dancer has struggled to stay airborne as the coronavirus crisis disrupts and travel across the globe. go here and clear across europe with. lufthansa pilot. opens the throttle on the service a 350 for a test flight in the skies over the toulouse assembly plant germany's biggest airline placed its order for the modern efficient aircraft some years ago the fact
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this acceptance flight is taking place during the biggest crisis in love chances history hasn't escaped the pilot's attention. and we think it's an important signal to my colleagues who are sitting either at home or on short term work these are tough times but it's important to look towards the medium in the long term to see that things do get better and things continue. working. the a 350 has a catalog price of 300000000 euros and look tons of specialists are checking every detail. before the money changes hands and puts the plane through its paces with a series of stomach churning maneuvers of transistor actually in the process of reducing the size of its fleet so the purchase of a flashy new jet is the subject of much debate throughout the carrier including its
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city line subsidiary in munich this aircraft is almost full much to the relief of staff in the cabin and cockpit but it's not enough to overshadow an uncertain future. course it's nerve wracking to see the shareholders holding this vote. with their hope for the best. but still worry about your job. into lose and back on solid ground. aviation analyst. thinks love times is turbulent times are to a large extent homemade and that blaming the pandemic is all too easy. we love our main mistake was to believe that they could get away with relatively small cash reserves. other airlines have done a better job of that british airways owner i.a.g. has much more cash and was a lot more profitable before the coronavirus crisis look at ryanair and easyjet 2
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which have managed with pretty much no government support. this a $350.00 has been named after the german city of fribourg but there's no guarantee that it will ever carry passengers anywhere full of tons of. now from riding high to rock bottom in the space of just a week former dolling of the german fin tech industry wire has filed for insolvency just days after 1900000000 euro hole in its finances was made public what it says say they found evidence of elaborate fraud at the company involving multiple parties around the world. it was a historic day at the frankfurt stock exchange and not for the most positive of reasons for the 1st time a company from the elite club of german blue chip stocks the dax is filing for insolvency. wire card shares have plummeted by 98 percent within the past week following the revelation that the company had a gaping 1900000000 euro hole in its books that news came out after the companies
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are to refuse to sign off on its 21000 accounts this in turn led to the resignation of wire card c.e.o. marcus brown that prosecutors are now charging brown with market manipulation and tampering with wire cards books he's been released from custody on 5000000 euros bail. the insolvency filing does not automatically mean the end of the company though wire card could regain solvent c. with the help of outside investors should not emerge the company will be dismantled and creditors paid by the sale of whatever assets wire cart own. shareholders however will come out empty handed. scandal at why god has put germany's financial regulators under pressure buffett is being asked why he didn't spot the problems out the listed company sooner or even cause for a parliamentary inquiry germany's finance minister has described the situation as
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an unparalleled scandal. a scandal like the wire card scandal must be a wake up call that we need more supervision and control of the financial markets than we have today we owe this to the shareholders or the employees of these companies and in particular to germany as a financial center and to all of us as citizens. and more americans filed for unemployment benefits than expected last week the number of new jobless claims is 1500000 but that is still much less than the 7000000 seen during a single week back in march the new data comes as new cover 19 cases jump in western and southern states with texas suspending reopening plans that could deal a new blow to businesses already struggling to emerge from coronavirus lock downs experts are warning that reinstating coronavirus restrictions could delay economic recovery. let's get more on this from our financial correspondent in new york
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thanks for joining us so the reopening of the u.s. economy not going as smoothly as some americans might have hoped it. clearly not meant specially quite dramatic developments that we see and this alison tells west of the united states you just mentioned texas and companies are also acting accordingly walt disney for example indefinitely it delaying the reopening off a disneyland in california we had apple in houston texas with at least the temporary closing 7 more stores we had another big restaurant chain with $700.00 plus stores that had to file for bankruptcy protection so clearly the reopening does not go really there as smoothly as the stock market anyway it was up a quite a big hit here in the thursday session and we're talking about the stock market actually because we've been hearing concerns about the situation for businesses in
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the u.s. particularly what's seen as a disconnect between the financial markets and what's going on in the real economy what is the international monetary fund been saying well basically they're saying that correction is pretty likely a correction meaning that the markets by dropped at least by 10 percent or one of the questions this what could trigger this selloff and the i.m.f. is saying that for example social unrest could be effect or also a 2nd wave of the pandemic but also if the monetary if the federal if the monetary policy should get changed and also if trade tensions might increase so those are certain scenarios where we actually might see that the market eventually sells off but for now well we all know it's the federal reserve pumping billions of dollars in the system that at least for now keeps the the stock market
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afloat. but a lot threatening the finances in the u.s. not only that unrest but the coronavirus in new york thanks a lot for joining us. now virtually no part of the world has been spared the effects of the coronavirus pandemic everything and everyone links to global markets is affected here's a look at how the coronavirus crisis is affecting people in ivory coast. this is miles away from the hustle and bustle of. the ibori and financial. market in ficus adu group in northern i recall sed. no cases of corona virus have been recorded here but called in 1000 measures have disrupted trade with the biggest city abidjan so its effects are being felt. i wanted to live our. lives yes i have 5 children. and it has
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really become hard to eat because of the coronavirus i want that i don't want this to last. has to go. but nobody really knows if and when the coronavirus will go this week the international monetary fund warned of what the 2nd wave could mean after seeing the global economy will contract more than expected in 2020. the economic impact is quite significant because our parents and the women who cultivate food crops can no longer get to our beach or. as long as the coffin 19 pandemic continues this part of ivory coast could remain cut off from the country's commercial hub. now is a gem of a story for you a tanzanian mine as the life changed in just 24 hours after he found 2 pieces
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2 of the biggest ever pieces of rough tanzanite ever found sunny new lies sold the 2 stereos weighing 9 kilos and 5 kilos struck them to the tons of in government for around $3400000.00 tanzanite gems are only found in the east african country where mining is a major industry there mining and production accounted for 17 percent of tanzania's g.d.p. in 2019. and that's all from the d. w. business team here in berlin if you want more from us do go to our website d.w. dot com slash business for you can also find us on facebook and twitter thanks for joining.
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us most. is the crisis also and. it's focused attention on the problems of. labor shortages overstretched health care spotty internet access.
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is it time for a major rethink. in germany. next. to the point strong opinions clear positions international perspectives. after weeks of large scale demonstrations against racism in the u.s. and many other countries across the world one thing is clear the violence and discrimination remain groups who do not all sides. join us on to the point short. term. put. it in 60 minutes of d w. like . oh. my god says love was food for the russians so. it runs to. so
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many different walks of life. some are pumpin and oddly. not all of them come straight from the heart to explore see you because there's no money delusion the mushroom in trucks come up. from the 1st glimpse of the road to their final resting place the russians d.w. documentary. the corona virus outbreak has been a disaster in so many ways from the tragic loss of life it obliterated international financial markets in one fell swoop it tore down.

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