you look over. what he's going to be going to give him i never work for roger donald trump and not in your putin's were 2 part documentary analyzes the difficult relationship between russia and the us and between their presidents how does their rivalry and their dangers mutual admiration for the rest of the world prism bullies trump and putin starts august 3rd on d w. the biggest drop in modern german history germany's g.d.p. shrank by a 10 during the last quarter as coronavirus forced the economy to shut down. german lawmakers are demanding a full inquiry into what happened why it caught after grilling cabinet ministers over the scandal. and continues to lose altitude as the european

plane maker made a net loss 1000000000 euros during q 2. this is deemed to be a business on what symbol and it's great to have you with us the german economy is going through its biggest decline on record new figures show g.d.p. fell by more than 10 percent during the 2nd quarter household spending business investment and exports all collapsed during the coverage 1000 pandemic wiping out nearly 10 years of economic growth. neither the stock market crash nor the oil price shock managed what this tiny virus has done the fruits of 10 years of growth were wiped out within weeks the german economy collapsed in march but the federal statistics office says the full force of the crisis is only now being reflected in the numbers. a 10 point one percent decline in the 2nd quarter there's never been anything like it everything has suffered exports imports services investment

it's only thanks to a mess of intervention by the state that unemployment hasn't gone through the roof around $7000000.00 germans are currently on so-called short time work they work less and the state pays part of their wages economic observers are divided some say the german economy is already on a recovery course others are bracing for a tsunami of bankruptcies. but let's delve deeper into those g.d.p. figures with stefan court see he's head of the forecasting center at the kiel institute for the world economy here in germany welcome to the program set 10 point one percent drop in g.d.p. how does that actually compare with what we were expecting today. well actually it's slightly milder than our forecast it is more or less in line with the for the consensus estimate. but clearly it is are the

most severe slump in economic activity ever since a roll call or 2. but the good news is that the recovery is already underway east so their deepest point of the crisis was april and from me on wards we already see our 1st signs of recovery but there is the slump was so deep that even stronger growth numbers in the upcoming quarters. will not compensate for the loss of economic activity that we have gone through and it will take probably until the end of next year until we see pre-crisis levels again and how is germany daring in comparison with other countries like the united states and other parts of europe. astonishingly enough the german economy is fairing complera believe will. although

it is the most export oriented economy in the world. compared to the most important competitors but the reason is probably that the shut down measures were not and as strict as in other countries like in italy or in france or spain where even the production sector was closed down for a significant period of time nevertheless the weak point of the german economy is not domestic consumption due to a lack of incomes on the contrary purchasing power is not the bottleneck for consumption to recover but the most important problem for their german economy is the export sector of this economy is focusing on

investment goods and due to their distressed situation in practically all countries in the world. the investment environment will be very weak and therefore export performance of the german economy will be under stress for a significant period of time and of course all of these predictions depend upon that not being a major 2nd wave coronavirus stefan courts from the killing institute for the world economy thank you very much for bringing us your insights my pleasure. now german lawmakers are calling for a full inquiry into the scandal a former darling of the dax why a cod financial technology firm collapsed a month ago after admitting that 1900000000 euros missing from its accounts probably never existed chouse day so parliamentarians interrogate some of the

government's most senior figures on how no one seem to see it coming. an awkward smile from german finance minister all of shorts as he arrived for his grilling lawmakers see he knew trouble was brewing at wire card and failed to intervene. for. the musician to question is why the minister made wire card a top priority so he's got this letter where read alarm signals for a lot of finance ministers because the mission of the lawsons informant's like he didn't get politically active or. outside the closed door hearing or growing calls for a public inquiry to get to the bottom of the scandal. total it was all social school form i think a committee of inquiry is inevitable and not because i would particularly enjoy things in there but it does get museum oppression that we need to finals. allegations of financial impropriety why a card 1st emerged in 2019 no the banking regulator is accused of turning

a blind eye that's left investors billions out of pocket is a big hoax wirelessly so in this case the fraud is not only unique in size and dimension it has been going on for years and that's under the radar of the financial supervisory board which is actually responsible for monitoring listed companies in germany. formal wire cards your markers brown has been arrested with criminal investigations well underway and sought to know the political backlash the purpose of the parliamentary inquiry is to ensure that regulators have the power to get involved and that they use it. or not some of the other major business stories making the news chinese telecoms giant huawei has become the world's largest manufacturer of mobile phones according to the market research company can now this huawei even only took its main rival samsung in the 2nd quarter of this year selling more smartphones analysts say china's early recovery from the coronavirus

and then it reinvigorated twa is domestic market where it sells more than 70 percent of its phones. or has halted its plans to move its asian headquarters to hong kong it closely follows china's imposition of a new security lower over the territory right heading up company is planning to remain in singapore until at least the end of 2022 now. and french can make a run no suffered a record $7300000000.00 euro loss for the 1st half of the year the governor was already struggling before the pandemic made things much worse blamed its japanese plan and miss sam the vocal for a loss adding to existing tensions between them. however us has posted a quarterly loss of $1900000000.00 euros a plane builder says the coronavirus pandemic is present at the industry with its greatest ever crisis it's planning to cut more than 10th of its workforce

a sales of its planes hit rock bottom. for residents of the tiny town of levine you need to lose it's a familiar event and the 3 years on the way. whenever one of the aircraft is assembled in the nearby factories part of the fusion which has to squeeze through the tons narrow street this time it's for a plane to 70 to last the jane eyre bussy 380 has been discontinued after just 15 years in production i think that people would have loved to have the sec rough you know being produce for a longer period of time anyway again i think that everybody is very proud about the extra aft and what it means to albert's the know how the skills that we developed along those is very important then to pave the way for the future innovation. up to $850.00 passengers fit on a $32.00 decks but times have changed airlines around the world

a normal looking for maximum capacity nobody want their aircraft to be cost effective and flexible the end of the a $380.00 couldn't come time for us we've barely recovered research and development costs and at the same time the company is dealing with the consequences of the coronavirus pandemic. is in charge of carbon design but today he's in charge of delivering a long haul here of the new ether theory type to lift tons of. the pandemic he says has picked airlines around the world in a precarious position. is feeling the knock on effect. in the in 911. we've seen crises in the past 911 the sars virus those were just small dates that didn't affect our a long time a group less time the losses are big and they're going to last much longer that means we have to think in terms of years before things get better. around the globe

airlines are struggling with insolvency and cancelled orders airbus has had to cut production by 40 percent since the beginning of the pandemic employees like pilot thomas wilhelm see each delivery that takes place on shared you as a glimmer of hope. it was in this group. it's important for us to keep our production stable even if it is it's a little level and it's a very good feeling and a positive sign that we're delivering big planes like the. group. the flashlight of the new a 350 was a success but stuff are worried airbus has an engine plans to cut 15000 jobs from its worldwide workforce. finally european oil companies shell and toto managed to make small profits in the 2nd quarter this by the massive collapse in fuel demand caused by the pandemic the company's trading units offset big losses

elsewhere trading units to make money during periods of market fluctuation by buying cheap oil and selling it back at a higher price however the companies made massive write downs of their assets in the 2nd quarter shell slashed the value of his assets by a huge $16800000000.00. and also from a in the business team here in berlin if you want more from his check out our website. joining us.

combating the corona pandemic. where does research stand. what are scientists learning. background information and news. hour corona. 19 special next on d w. hijacking the news. where i go from the news this being

hijacked journalism itself has become a scripted reality show it's not just good 1st is evil us forces them why and why. in countries like russia china turkey people are told that it's us and if you're a journalist there and you try to get beyond it you are facing scare tactics intimidation and i wonder is that where work has it is well. my responsibility as a journalist is to get beyond the smoke and mirrors it's not just about being clear and balanced or being neutral it's about being truthful. when he was for golf and i work in the. blood. and it's nice.

to. some 660000 people have died so far from cope with 19 according to official statistics poor rich young old famous the virus doesn't discriminate. even care as doctors and nurses who were there to help succumb to the illness. france and spain are among the few countries that held public memorials to honor the dead and whose departure has been especially de.