once you noted there's no stopping the fires. in the. colors. the old going up in smoke. conflagration the world on fire starts august 12th do you w. we have to are invited back. and dance with the big. gold prices hit a record high as investors seek safety in an uncertain world the precious metal is now more precious than ever. islands ryanair is priced at a quarterly loss after european lock downs because the grounding of the budget airlines fleet. and us cases their approach the half 1000000 pound south africa

is being helped in its coronavirus fight by some of its german trading partners. this is the doing business on robots in ben it's great to have you with us the price of gold has hit an all time high suppressing even the level seen after the global financial crisis a decade ago time again when uncertainty reigns we rushed to the relative safety of precious metal on asian markets gold buyers have been paying over $1940.00 an ounce. in this gold dealer in beijing business has been booming for weeks july sales were up some 30 percent on the previous month where there is jewelry or boss demand for the precious metal just keeps on climbing the gold price is now surpassed the previous record set in the aftermath of the global financial crisis knowing years ago. since the beginning of the year gold has climbed 28 percent on

monday asian traders were paying $1144.00 an ounce analysts reckon the price will climb above 2000 right now the perfect storm is brewing to send investors running to the safe haven of gold the uncertain business outlook francs to the coronavirus in demick the growing tension between world powers china and the usa and central banks which are printing money like mandarin to help the american economy the fed may decide on negative interest that it's meeting this week that will increase pressure on the already weak dollar and may well push the gold price even higher now jim a business confidence is climbing at a faster rate than analysts had predicted according to the latest figures from the munich based institute july saw the 3rd consecutive monthly increase in the face business climate index which is germany's most closely watched business confidence barometer the latest figures say the index climbing to 90.5 points in april to put

that in context the index fell to a historic low of 74.2 who has gradually recovered as the economy has been allowed to reopen the index surveys around 1000 german managers every month to gauge business confidence when i speak to claimants fish who is president of the if you info institute for economic research thanks for joining us so it's now believe it or not 6 months since the 1st coronavirus case here in germany all reason of business has got right now to be growing in confidence. well there are some positive signs of there is a recovery in china consumer spending in germany seems to be coming back so in some sectors of retail we see good numbers so there are some positive signs of course generally the economy is opening up again some of our neighbor countries are also

opening up and we shouldn't forget we are coming from a very low level so it's not surprising that the index is recovering but how much damage has the pandemic actually done to the german business landscape over the past 6 months. well there has been considerable damage not all of that is visible yet because insolvency legislation has been suspended to some extent so the expectation is we will see more insolvencies in the autumn we businesses are also dismissing more people than they hire so there are some damage happening now and some more damage ahead in the labor market so the impact is deep but nevertheless the economy is stabilizing here and from what you're hearing from businesses are they expecting to return to normal by normal i mean how things were before the

pandemic over the coming months there is a long way if we look at the reading for the current situation we are at 85 and the average long term average is 97 this shows that we are far from normal most businesses tell us it will take something between 10 to 12 months before they expect to return to normal but that obviously depends in the end about what happens in the autumn is there going to be a 2nd wave with the larger shutdowns that is all open so are there some is a lot of uncertainty ahead and it will take time before we get back to normal ok minutes faced president of the institute for economic research and you so much for joining us here on day to be business. ryanair has posted a loss for the last quarter its latest financial results to show the massive toll the coronavirus lockdowns across europe took on the irish low cost carrier and its

warning that it may be in the red for the long haul. as europe's busiest airline group ryanair had much to lose from corporate 19 and lose did to that unit of 100 n e t 5000000 euros travel restrictions hit hard with passenger numbers down 99 percent speaking on the ryanair website the airline chief warned that his biggest fear was a 2nd wave at this point we expect the for your traffic to fall by about 60 percent will fall from a 149000000 passengers last year to best 60000000 passengers this year would be entirely contingent on there being no 2nd wave of covert 19 in the autumn in the winter and obviously we've seen some recent spikes in places like barcelona that is impacting short term bookings the budget carrier is one of many low cost airlines restructuring ryanair plans to cut up to $3.00 and a half potion of its $900000.00 jobs the 2nd largest britain's easy jet plunged to

shed $4500.00 geary an airline weighs in 3rd place among the european low cost airlines wants to cut a 5th of its workforce. for ryanair bosses see the key to survival is cost cutting along supply chains and white bread mask wearing and hand hygiene on its flights but even those are no protection against a bumpy road ahead. on this let's bring in our financial correspondent chelsea delaney she's joining us from frankfurt chelsea we know it's a tough time for the airline industry in general but how's ryanair been fairing in comparison with other carriers. well as we heard in that report they they also are being absolutely devastated by the pandemic they have seen. travel basically all but stop on their on their flights so they are being impacted and

they certainly have a lot of a lot of uncertainties ahead of them given the continued growth of infections throughout the world but they have been doing slightly better than than most other airlines especially here in europe like a lot of the airlines like air france that they didn't have a they didn't have to seek a bailout they they still are quite solvent they had about $4000000000.00 in cash in this quarter so they do still have a pretty strong financial position and they are seen as pretty likely to come out of this ok because they they have a very low cost structure so they can really cut costs and hopefully gain some market share coming out of this ryanair is solely increasing the number of flights it operates i think is trying to be around about 40 percent this month they are starting to increase travel around europe how is the industry's recovery go.

it's really rocky and there has been a lot of excitement over the past couple of weeks about about travel restrictions being eased borders reopening but as we've seen today especially that can change really quickly the u.k. is now implementing a quarantine on people coming from spain that's really pummeled the rest of the airline sector. and really just underlines that even as we do see things normalizing there can very quickly pop up hotspots like like spain and that's will remain a big concern for the for the sector just a delay any financial correspondent in frankfurt thanks a lot for joining us now to some of the other global business stories making the news. australia's competition regulator has accused google of misleading consumers in order to use their personal data for targeting advertising the australian competition and consumer commission says that in 2016

a search engine started combining information from uses google accounts with their browsing activity on known web sites without sufficient consent. british pharmaceuticals astra zeneca has signed a $6000000000.00 cancer drug deal with japan's daiichi sankyo together they'll develop a market and market targeted treatment in the 2nd major cancer collaboration between the 2 companies that is going to see astra zeneca pay a $1000000000.00 upfront to daiichi sankyo. meanwhile u.s. drug maker model says it's receiving an additional $472000000.00 in government aid to develop facts nation against corona virus a test of the vaccine on $30000.00 participant participants starting today. now more than 600 german companies are established in south africa making the country germany's biggest african trading partner with more than 4 140000 cases

south africa has become one of the printers worst affected by coronavirus now is german business partners are trying to help it. use course than plant in. south africa until recently this was an assembly site for engine blocks with financial support from the german foreign office re w. is converting this space into a field hospital with 19 patients. the director revokes wagon south africa is checking up on the site with $4000.00 beds it would be the largest hospital in africa but if you have almost 70 years as folks walk in . a factory and you would make this is the biggest producer of cause in south africa we export a lot from here into the world so that because part of all the all the supply chain the factoring set up so fast it's nothing unusual to spring into action and you can see that. many german companies offered their help mercedes in east london produces

personal protective equipment b.m.w. and per toria provides hundreds of hospital beds and clinical oxygen together with south african partners siemens pledged to build 20000 ventilators by the end of august. the so-called national ventilator project is at the heart of the government's response to the virus xena down no more is the c.e.o. of siemens in south africa her company provided the digital platform to design and build the ventilators audience to experience from other countries specifically italy and spain we have seen that you know numbers can increase quite rapidly and it was clear that is a force in the world africa might not have the 1st priority and we decided to immediately stop these dishes solutions to help develop that product which is now

on the market hard in early lockdown put many south africans out of work but it did succeed in delaying the major covert 1000 outbreak this provided valuable weeks to increase the capacity of hospitals after 3 months of construction the 1st phase of the field hospital in nelson mandela bay is inaugurated the south african health minister is impressed is has been now a step peace within record time and demonstrates that efficiency and a very. strong. and free jenny is full of surprises moved on hold out. some sit in the footsteps of the right. in your. most town the fleet

street. for a time you want to kill marry much alive you travel good god exists in germany. recognizing where exactly. this. morning lost our sculpture history. details travel extremely worth a visit. this week on world stores is the fear of the coronavirus driving alcohol addiction in russia and more and more children have to work in mexico. but we begin in france. hundreds of supporters from europe are awaiting their trials in northern syria and

camps. just like many other families a father in france is trying to bring his daughter and her young son home. on trying is used to standing his ground the former trade unionist has defended workers' rights his whole life but when 5 years ago his 26 year old daughter suddenly left to join isis in iraq he had dropped bottom. him if he's warm but if you don't also. it was my house came tumbling down on top of me. she had. been a good student and we didn't see this thing coming at all our family is ignore stake but she converted to islam without telling us what i told to do you know what you're getting yourself into and who these people are that you're joining he. last year his daughter was captured by the kurds and brought to the whole camp he kept in touch with her until she and her baby born in syria then his 5 weeks ago on one

is today saying his face on camera for the 1st time he says he has nothing left to lose. so i don't know.