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going to years do they have the future. g w dot com africa megacities the most. clear cut or. harley davidson takes a sharp turn america's best known motorcycle maker is slashing jobs as it tries to reverse its falling fortunes. also on the show france isn't eating enough cheese now it's piling up we have the details. and it's the world's most expensive parasite that right now the highly coveted caterpillar fungus is a vulnerable species. full welcome to the show i'm seeing there's a in berlin american icon. harley davidson is cutting $700.00 positions worldwide

as it restructures to to save costs the company said the decision was based on long term factors and not the coronavirus pandemic which has temporarily closed its factories and it's still affecting production sales of harley davidson motorcycles have been falling for years in the u.s. company's core market especially as baby boomers age the milwaukee based company employs 5600 people worldwide and let's go now to our financial correspondent yens korda in new york yes is harley davidson in trouble well i mean overall you would expect that during a pandemic or riding a bike is pretty good for social distancing but as you mentioned the reason for those layoffs is broader restructuring efforts specially to resonate with younger riders so yes holly is in trouble for quite some time already and you also wonder

how the which the corona crisis with global recession and also in the u.s. was huge debt loads i'm also with the consumers and how many people will actually spend 10 thousands of dollars to buy a new about a motorbike and of course we should mention the holy davidson was involved in a lot of the tariffs back and forth between the u.s. and china one of those companies that was sort of singled out speaking of job losses there's more bad news on this front for the u.s. what can you tell us. well 1st of all on thursday we got the weekly unemployed figures and they were not as worse as they were expected but they're still not good for the 15th consecutive week we had more than 1000000 americans filing for unemployment rates and the consecutive. hours for getting a stand at a good 18000000 also less than expected but still really not great so this is one

side of the medallion but then we also have all those on it dolts not just with ali but in the pos couple of days back bath and beyond for example the retail chains are now on saying that in the next 2 years they will cut 200 stores this week we heard from united continental that they might furlough 36000 people we heard from brooks brothers this more than 200 year old chain that they are filing for chapter 11 walgreens big drugstore also announcing layoffs we heard the same from a libra so all over the place we hear from more and more companies that layoffs are planned or will happen so clearly the situation on the u.s. labor market is definitely everything but good at this point all right a bleak outlook there yes quarter for us in new york thank you. now

eurozone members have chosen irish finance minister pasqual donahoe to lead the blocks financial policy making arm the euro group donahoe styled himself as a consensus candidate for both northern and southern single currency numbers and had the backing of the european conservative parties he best in spanish deputy prime minister not you call vino who is favored by southern states like france and italy done a whole now oversee the e.u. 750000000000 euro coronavirus recovery plan. german industrial giant siemens as one shareholder backing to spin off its energy subsidiary part of a larger move toward a coal power free future over 99 percent voted in favor of spinning off the unit which is valued at around $17000000000.00 euros now energy which includes oil and gas gas turbine and power transmission divisions could be launched as soon as september siemens has long sought to shed the division into wood into a separately listed company and here's our frankfurt financial correspondent conrad

with his take on this move the energy business that siemens wants to spin off consists for lots of part off technology for power plants that are driven by fossil fuels by coal and gas not an easy sale in times which are all about renewable energy but the unit also contains a message which is the wind energy unit of siemens and a spin off would make all kinds of different strategic opportunities possible for the unit which are impossible right now for example merger of the business with a competitor also convinced that what is going to remain off the digitalisation business the railway train unit and the medical technology unit will have a much better standing on the financial markets the spin off. or at our financial correspondent conrad who is in there for us and frankfurt let's take

a brief look now at some of the other business stories making headlines. french train maker i'll stop has offered to divest parts of its business to ease european commission concerns about its planned purchase of canadian firm rail business last year the commission blocked plans of merge with the real business of german industrial giant siemens. disneyland paris will gradually reopen from july 15th following a 4 month closure due to the corona virus while mickey and donald won't be wearing masks the staff will be it's also mandatory for visitors along with advance booking disney says the paris park accounts for over 6 percent of france's tourism income. while executives had to have defended the chinese companies cutting edge telecoms technology the u.k. parliament terry hearing always faces increasing pressure from the u.s. led campaign aimed at persuading allies to shun its products over espionage for years while we insist that at the hearing that there are no back to words and its

products. science is planning to ramp up production of its antiviral drug rim does appear that's according to the company's german had drugs been shown to alter the course of covert 19 it's been approved by the european union but the u.s. has bought most of the global stock for the next 3 months german carmaker volkswagen could face a new wave of lawsuits the european court of justice has ruled that owners of cars in the e.u. with the emissions cheap devices consume volkswagen in their own countries not just in germany admitted in 20 fifteenth's using illegal software to cheat on emissions tests. well piles of potatoes vats of unpurchased milk produce around the world has piled up in recent months as pandemic lockdowns take away traditional buyers such as restaurants and export markets now it's french cheese that's affected a cultural commodity as well as a big industry. more breather he knows what to do with lockdown measures in

france has made it hard for morgan call home to sell his high quality soft cheese now it's past its peak. as of today we have a 1000 more patches of pleated more than we need they're drying out at the moment and really they're no longer actually fit for sale. morgan's usual buyers include restaurants and markets in paris and surrounding areas he produces a 1000 tons of debris every year and pirated milk from a nearby farm he couldn't bring himself to cancel the orders us you want for the sake of solidarity we can't just cancel all our milk orders even if it will be very hard to find buyers for this cheese. cheesemonger is across france are experiencing similar problems a 1000 tons worth of teeth is currently in storage the only kind being bored is the

regular stuff you get in the supermarket restaurants have recently reopened which is especially good news for artists and cheese makers who haven't been able to rely on state aid. to melissa measures no matter how big are very important the survival of an entire sector is at stake. the hope now is that after locked and the french appetite for arses and cheese will be bigger than ever. right it's a fungus that eats caterpillars and it's prized by the chinese for its supposed that medicinal qualities that now over harvesting is threatening the caterpillar fungus and the prices are rising. prices for caterpillar fungus range from 25 euros a gram to 250 depending on things like size shape and place of origin the beijing manager of the company claiming to be china's leading producer says people used to buy caterpillar fungus manias gifts but no more for themselves. caterpillar

fungus has been accepted by more and more people who are wealthier than before they're paying more attention to their own health care than ever before to many products of caterpillar fungus have become homeless as cities. a fungus is a parasite that preys on caterpillars absorbing all the nutrients from its host during summer until it dies 73 year old dr of traditional chinese medicine lead him in says it is recorded in ancient traditional chinese medical books but that it's not something that can cure a disease the original. although they're there for if it works on people in a slow manner. it's not like you're sick with your lungs and your kidneys and you take caterpillar fungus and you get well it's not like that. always something that works on you through a long and slow nutrition process. however with traditional

chinese medicine increasing in popularity caterpillar fungus has become a lucrative business which has led to over harvesting and populations falling 30 percent in 15 years. now the international union for conservation of nature has classified the fungus as vulnerable just one step away from endangered. right and that's it for me and the business team here in berlin as always you can find out more about these and other stories online at the dot com slash business do check us out on facebook and twitter i'm souvenirs like toys that's watching.

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