said the new war criminal wives whose subversion as well as foreign interference those convicted could be in prison for winds and barred from standing in elections . you're watching the w. news monica jones is up next with the w. business stick around she'll be right back. to you as is all this way to bring you more conservation. how do we make super screen or how can we protect habitats we can make a difference google ideas environmental series again google $3000.00 on g.w. and on mine. how does a virus spread. why do we panic and when we'll all be. introduced through the topics covered and i weekly radio show is called spectrum if you would

like any information on the coronavirus or any other science topic you should really check out our podcast so you can get it wherever you can get your podcast you can also find us at dot com forum slash science. cut. a bad day for boeing shares and wage an ash shuttle tonsils orders of almost 100 aircraft and demands compensation how much more can boeing take. also coming up who's to blame for the downfall of why it caught regulators of searching for answers as the investigation into in even solvent payment platform intensifies. and growing vegetables on a rooftop in paris europe's biggest urban farm gets 3 missions access to locally produced fruit and mitch. but continued on the business unlike in johnson berlin

good to have you with us now these are trying times for the aviation sector on both sides of the atlantic today abas announced it will cut some 15000 jobs citing the coronavirus pandemic for the move its main rival boeing so it shares tumble afternoon region air shuttle cancelled orders of 97 aircraft carrier said it terminated the purchase agreements for 5787 dreamliner and 90 $277.00 max planes the region also wants compensation for losses he says it hurts after the global grounding of $77.00 max jets and engine issues with the dreamliner. for more let's bring in our wall street correspondents caught it in new york looks like just another blow for a battered boeing is that you know clearly and it might not be here the last customer who cancels some orders says a lot of airlines under are under

a lot of pressure as far as i understand boeing still has about of good 4000 orders for outstanding orders for the 737. megs 8 plane that is still looking pretty good on that term and what also does help boeing is that the company is also a big defense or contractor and they are going actually to court to gain some orders in the past couple of weeks and months but clearly a lot of pressure on boeing as the stock down by almost i'm 6 percent and also if you look at the suppliers for boeing into state of washington for example we've seen thousands of layoffs there was the suppliers in the past couple of weeks you're talking about stocks down i mean they've been going up and down and interesting enough we hear that wall street is actually wrapping up its best quarterly performance in decades that we're talking about a quarter overshadowed by the coronavirus fund demi please explain.

yeah it's hard to put it in words because what did happen in the 2nd quarter is that blue chips are up by almost 18 percent and was that it has been the best quarter since 987 for technology shares of the nets the composition was even up by almost 30 percent in the past 3 months and all of that is summed up on a day where u.s. health officials are warning that if trends continue that we might actually see $100000.00 corona new corona infections per day so what is driving the market basically is on one side the hope that reopening swill stabilize the economy but mostly it's also the federal reserve pumping trillions of dollars into the system then all those aid programs the u.s. government so that's holding things together for now but some economists and also analysts are warning that actually we might be seeing a 2nd wave of layoffs no matter what hope it happens was the developer right of the

coronavirus in the weeks to come our idea is called we lost your visually for just a moment but we heard everything yanks call it in new york thank you so much. and a brief look now at some other business stories making news. scandinavian airlines is getting an aid package with some one and a half $1000000000.00 of an agreement with its main shareholders the governments of sweden and denmark will contribute to the recapitalization plan which they carry a needs to secure its survival amid the fallout from cope with 1000. south africa's economy continues to contract official data shows the economy shrank by 2 percent in the 1st quarter that by declines in mining and manufacturing the outlook remains gloomy amid the coby $1000.00 pandemic the treasury's forecasting a 7.2 percent drop in g.d.p. this year. canada's cirque de soleil has filed for bankruptcy protection since march the pandemic has forced the world famous that has operated to cancel shows

and lay off staff the entertainment group has a ready laid off 95 percent of its workforce but says it hopes to rehire the majority of those employees once lockdowns on defeat it. now who's to blame for the downfall of wildcards it's now one week since the german fin take superstar announced that almost 2000000000 euros went missing from the company's books and best against us are looking into possible fraud and politicians wonder if oversight was too lax now regulators that debating how to strengthen controls to avoid similar cases. when german fin tech wire cart filed for insolvency last week many outside the financial center since the world shrugged their shoulders after all the company once a shooting star that made it right into germany's plute ship dax index was all but unknown to them consumers would likely not know whether or not they had any business with wire card but millions of customers of banking apps like her pocket

or ana money found the assets frozen and banking cards not working today many were advised to refrain from non-urgent money transfers so as not to overwhelm the fragile system meanwhile master card and visa half want to clients that they could find themselves locked out of payment networks to. a scandal like this one must be a wake up call that we need more supervision and control of the financial markets than we have today we all this to the shareholders the employees of these companies and in particular to germany as a financial center and all of us as citizens. among the institutions task was supervising financial firms german regulator buff and as well as the european central bank according to reuters regulators fail to classify why our card is a financial holding and hold it to higher standards as for why

a card score business experts stand by it i'm sure this is. in the end we should actually count of companies like why our card is a business with a future of this kind of payment technology. we know that our banks are past their peak and why a card looked like it had a golden future. believe however that promise only holds if tighter regulation ensures customers can trust that their payments are processed correctly . and as to the role of regulators the chair of the fin tech working group at the european parliament stresses yakka luna's told us earlier that others also failed in the y a cot scandal is what he said the orders external audit is were failing to apparently they were basing their findings on the internal audit so they were so we're told it's probably about where failing what we're talking about supervision and so was really has to be improved of course not only germany because germany probably was

the last country which would have the scandal but for all 3 european union so there are there are lessons to be there are improvements to be made for sure. to the u.k. the country will speed up infrastructure spending in an effort to boost its flagging economy prime minister boris johnson touted $5000000000.00 pounds of investment most of it in already announced projects that will now be fast tracked johnson emphasized he would not cop to public spending as prior conservative governments had the british economy shrank 2.2 percent in the 1st quarter according to the latest figures. to paris now where europe's biggest urban farm is starting to open up the business the timing is perfect given the pandemic lock downs and disruptions of supply chains have made locally produced fruit and vegetables even more desirable the saloons reports from paris. this rooftop in the south of paris will harm by europe's biggest urban foam the aim is to bring about

a new era of increased sustainable agriculture and the covert $1000.00 crisis has even more made the case for such a model. now. in our project incarnates what we in france call the world of tomorrow it stands for urban resilience new kind of city with more solidarity and proximity and local food networks of high quality. you know. the plants attached to vertical pillars are held in horizontal contain as a 3rd of the farm is opening now with a whole project launching in 2022 half of the 400000 euros for the project were raised in a crowdfunding campaign. we are using so called hydroponics and our opponents methods they are based on a closed circuit where water and nutrients are being channeled to the plants and that allows us to use 90 percent less water than in traditional agriculture but

this expert says that even during biggest urban farm has its limits that could reach. the never be able to field of all city we also need traditional agriculture and yet the developer say the urban farm has another function apart from just producing fruits and vegetables such as strawberries and salad for sale parisians can rent $135.00 little vegetable patches for $320.00 euros a year. but. many people in big cities don't have access to vegetable patches here at ben they can reconnect with earth and literally go back to their roots or. leave. for now the developers only farming on french troops but success here could take the model beyond france. and before we leave the coronavirus fund demi has dragged down off his property values in new york city by

10 percent management of the 102 storey empire state building expects less than a 5th of workers to return soon most os to working from home as dozens of companies try to figure out when and how to reopen their offices and a 90 year old symbol of america's economic might but in the mean time tourists will have more space to enjoy the magnificent views of the big apple from atop the os deco skyscraper. and that's your business update here on u.w. from me and the team in berlin thanks for watching. sandra's

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