you're watching t w news stay tuned for business coming up in just a moment. we'll be looking at lots of interesting stories coming up at the top of the next hour as well i'm terry marsh and thanks for being with us. beethoven in the justice did to did do. it is it is about a 60 bleak. project. many rubber bands of stolen beethoven. and of course the subconscious always one thing is clear the beatles is wildly popular all. i see is sure.

the words sound good just composers all the time i can't even begin to imagine a world class once they are similar so on a musical journey of discovery. with the whole thing. starts of temper 68 to tell you. it is the european country worst hit by the coronavirus and now britain has officially entered recession with 2nd quarter figures showing the worst contraction in europe also coming corona virus infections in spain are back on the rise and the country's tourism industry is again under threat and if the effects of the pandemic weren't enough german farmers say their weed harvest will fall drastically thanks to 2 years of drought. i'm chris colbert welcome to the program

economic growth figures for the 2nd quarter have been dismal across europe being have been hit by the coronavirus been demick the economy in germany shrank by 10 percent for example in france by 14 and spain by more than 18 percent but no contraction was as bad as the one in britain where the economy tanked by 20.4 percent in recent months and that's despite unprecedented government intervention. no country in europe has more coronavirus fatalities than the united kingdom the pandemic is also calls the economy to plummet. britain hasn't seen job losses on this scale since the 2009 financial crisis. everybody faces the prospect of losing their jobs and with you know with good sectors and you talk about problem particularly your most people in the airline industry think the recovery what happened for at least 3 or 4 years is the critical

aviation sector is among the hardest hit british airways has announced it's laying off $12000.00 workers airlines virgin atlantic and easyjet have also shed thousands of jobs he sectors like retail and construction are also reeling from the impact of the virus on top of that. the lack of a binding timetable for britain's exit from the e.u. increases on certainties about britain's the. to me. for a closer look at the you can harm me let's bring in holder's meeting he's the chief economist at bear and bank usually based in london but he joins me from his home office in berlin now good morning to you hunger other countries have also been suffering under the pandemic why is the u.k. economy apparently paying a higher price. the u.k. economy is paying a higher price simply because of the u.k. government did not react well to the damage in the early stages boris johnson hesitated too long before he imposed significant lot downs and in the early stage

when the case numbers were arriving exponentially but you lay off $89.00 days made a critical difference as a result of the pandemic raging worse in britain but in much of the continent through april and may the u.k. could ease its lockdown owned the late to the rest of continental europe the rest of europe and as a result the british economy tanked or fortunately now with lock downs having been eased in the u.k. and the pandemic now being under control the u.k. looks like you do have quite a good recovery in the 3rd. where you say the u.k. government acted too slowly too late was such a downturn that we're seeing now some one inevitable than. e.d.s. it was probably inevitable not the precise amount but yes the downturn serious downturn was in every table with decisions that then forced the u.k. to keep the lock downs on for longer the us alternative namely to also go for lock

downs a bit later outside new york but then to ease them early is showing up in the u.s. message rise actions recently so the u.s. will turn a tip which would have meant a bit less of it to g.d.p. in the 2nd quarter would have had a very different cost. in the attempt to finally get it under control of the u.k. reacted too late but then finally reacted the right way but then this is all coronavirus related or are there structural weaknesses in the u.k. economy that fueled this downturn. well there is the problem of breaks for the last more than 3 years already the u.k. comedy has been weakened by breck's it we've seen that in business hesitation we've seen that investment hesitation and that of course also plays a rote but relative to the bend that make that plays only a secondary wrote the u.k. has some other weaknesses but well other countries have the same other weaknesses

are not that you. are going to break that here in a 2nd 1st let me ask you some people are saying that economic activity is starting to pick up germany's economy minister said there will be a much better 3rd quarter do you see a silver lining there for the u.k. as well. yes ok the 3rd quarter will again be significantly better than the 2nd quarter roughly speaking the u.k. may like continental europe be able to erase about half the drop of the 2nd quarter in the 3rd quarter simply because the lock downs on no longer there to any major extent and with a little luck and with the bad good handling of the virus now we can avoid having to go into new lock downs going probably into only modest regional views like iran . briefly you mentioned begs the talks between britain and the european union about a trade deal have been stalled and it doesn't look like anything will come to pass by the end of the transition period doesn't. well there's

a good chance that something will come i would say 35 percent probability that indeed we do still get it both sides seem to want it to the e.u. has made a concession here and there and we know from boris johnson remember last year that sometimes in the last minute he makes that decisive concession so it doesn't look too good but i wouldn't rule it out there still is a chance that in terms of the economic disruption at the end of the year which is that i will be you know make it. close meeting thank you. you're welcome. just 7 weeks after bringing its 1st corona virus wave out of control spain is once again grappling with the worst infection rate in western europe the health ministry says there are currently more than $500.00 outbreak clusters in the country germany has extended a partial travel warning to the spanish capital madrid and to the basque region it's more bad news for the tourist industry already struggling to adapt to

a pandemic business model. the platen maior in madrid is normally full of tourists but it is deserted like it was during the lock down hotels and restaurants have long since reopened waiting for guests but nobody comes. here for this moment july in madrid has been really unusual due to the worldwide pandemic there's been a freefall in the occupation rich in our case it's gone from 70 percent to just 10 percent. for many shops and souvenir stores opening up is not worth while some will remain closed forever cafes and restaurants hope for at least a few guests but the situation is dire. need if you were in a normal summer like in 2019 you would have around 50 percent occupational compared to now you have 2 tables and 3 tables the city center here is scaled up to service 10000000 tourists and now we find out they are nowhere to be found. that

someone thought i was going to fleece the british people typically make up a large part of tourists here but they're staying away current u.k. rules said they have to be in quarantine for 2 weeks if they return from span the spanish tourism association expects a loss of around 40000000000 euros and many jobs the industry is now demanding that these huge losses be at least partially offset by the e.u. and phoned. us carmaker tesla will split its stock for the 1st time in its history dismount investors will receive 5 stars for every one they currently own. the move will not change how much the electric car makers worth but it will make its shares more affordable the company went public just a decade ago and its market value is now higher than germany's dime or b.m.w. and forks like and combined mind you. let's get more on this from our financial correspondent on advice both in frankfurt what does want to accomplish with this

move well if your shares are so highly prized then you are not accessible to many investors so they want to be more accessible also for retail investors small investors and also the employees who would bet and can afford to buy their shares because currently with the share price approaching $1500.00 it might not be easy to everybody to buy it well tesla has a market capitalization of let me be correct here $230000000000.00 more than any car maker is that way too up front to catch up for the traditional car makers. well it kind of depends tesla is also be on the highest price share on the market in the united states so it's 0 so yes i think the share price is free flecked a very positive idea about how the electricity and electrification of the car

market is going and whether this is going to be true or not remains to be seen bad one thing is clear for all the other comic it's kind of hard to catch up when it comes to electric pieing their fleet but it's also about the mass market for example paul krugman is going to cater more to the mass market have less prized cheaper biko's in place than test another one frankfurt thank you. it is august high summer here in europe and slowly but surely toilet for farmers to bring in the harvest initial estimates say germany will see a lower we target as this year following 2 years of drought the coronavirus been damaged of course will show its impact as well. stefan de takes combine harvesters wheat in eastern germany after 2 years of drought there was enough rain this march

and april to ensure an average crop of $5.00 to $8.00 tonnes per hectare. and those 2 drought stricken years dittrich made barely any money with wheat as the yields were much too low to get paid quickly the farmer now sells about $1.00 3rd of the harvest directly to a dealer about 1500 tonnes or $38.00 containers full are stored he's betting on rising prices in the winter months even though storing the grain costs money. or interventionism and it's like like if i ended up giving it up again at the same price then as everyone knows i didn't do it right. so i'd like to get 15 to 20 year olds new yorker time so that it more or less justifies the effort was just the price for a tonne of wheat a set far away from these fields in the cereal markets of chicago and paris the current price for a metric ton is about $180.00 euros baka on the north sea as a key export harbor for grains if the trade dispute between china and the us

worsens wheat from here may also make its way to china distributors are keeping a close watch this have bottled up until now the us was the main supplier there and we'll see how things develop politically if it will remain the same side there could indeed be opportunities for wheat exports from the e.u. usually one given since humans from the e.u. have so far been better than in previous years the price for wheat has stagnated farmers define deeply he still needs a lot of patience before he can sell his crop for a higher price. it's social thanks for watching and ever so for success.

this woman is on a mission to let child ellis and new homes. whether they're used for work or as tourist attractions in thailand concerns are often severely abused the animal welfare activist organizes complex mostly missions in her champ elephants can finally move freely again and 3000. next.

on the show that of us are. in support. of. the debris of. welcome to. this week we meet south african safari top races hoping online alternatives keeps them afloat. we check out the italian island of capri which after weeks of quiet is welcoming tourists again. and we find out about the plight of elephants in the.