tv Business - News Deutsche Welle August 12, 2020 12:30pm-12:46pm CEST
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he is sure. to sound the biggest composer of the time i contemplate begin to imagine a world class one player several more lives on a musical journey of discovery. with a healthy. start september 16th b.t.w. . it is the european country worst hit by the corona virus and now britain has officially entered recession with the 2nd quarter figures showing the worst contraction in europe also coming up for many people it's been a vacation of a lifetime and with stunning natural vistas and exotic wildlife uganda has come to rely on tourism but visitors are staying away thanks to the and. i'm chris cuomo welcome to the program economic growth figures for the 2nd quarter have been dismal
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across europe heavily struggling with the impact of the coronal irish coronavirus pandemic the economy in germany for example shrank by 10 percent france by 14 and spain by more than 80 but no contraction was as bad as the one in britain where the economy tanked by 20.4 percent in recent months. barra's johnson visited a building site this week a trip and of boosting confidence in his country's flagging construction sector. but there's no plastering over the cracks of the u.k.'s battered economy. figures released on monday showed that british g.d.p. collapsed by a massive 20.4 percent between the 1st and 2nd quarters of 2020. that is the worst of europe's major economies a substantially more damaging drop than that suffered by germany and countries like italy france and spain.
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those figures are from the time when britain was in a very strict phase of lock down. the economy has since reopened and there have been signs of a modest recovery the hope johnson is clinging to. obviously we don't want to see is a return to economic vitality and health and some parts of the economy undoubtedly showing great resilience but clearly there is going to be bumpy months ahead and a long long way to get those potentially bumpy months we'll have more than just the pun demick to contend with. the prospect of a no deal breakers that by the end of the year still looms over the british economy . talks of the e.u. have yielded little progress so far time is running out with the 2 sides still quite far apart. let's get more on this from craig earle in his senior market
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analyst at wanda in london and our financial correspondent on the device both in frankfurt craig let me start with you other countries' economies have also been suffering under the ben demick why is the u.k. apparently paying a much higher price. well i think one of the reasons is because of the importance of the service sector to the u.k. calling if you can a shot so if you a shot all shops all the. old pope's. it is going to take its toll obviously we've also been one of the hardest hit by the virus itself we were in the last countries to go into shutdown so it's likely that these of post how that impacts as well not just on the length of time that businesses have had to shows but also in the speed in which people have written to work the speed at which people. say use these businesses as well so i think the combined in part to this is meant that we have the most of a recession body of the country in europe and it's going to be
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a very difficult job to follow spock the encouraging thing of course here is the june them but the monthly reading was quite encouraging once the shops have reopened an 8 percent growth in hopefully they'll something that can be carried through to the 3rd quarter another overview in frankfurt tell us how the british pound is doing amid this recession news. that actually compared to the euro it hasn't really moved to la that is kind of close to record lows compared to think arrow i mean the fact that he has sat at a big cloud over bad. over sterling if you compare to the u.s. dollar it was a little bit more of a movement i mean back was it a little rally also on the bad than expected number for g.d.p. in june because up by 8.7 percent expect it was 8 percent so one could argue that the pick up in economic activity is also stronger than expected for the u.k. a great big to you 730000 workers have been removed from payroll since march and it
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looks like the unemployment figures aren't going to look much brighter for the foreseeable future. the the we have to understand the moment the job started so that was seen for the u.k. it's a bit of a difficult pitch it's a read the photos scheme does distort it quite heavily the belief is that maybe 25 percent of those furloughed workers the jobs are going to be at risk this runs have a 1000000 people here in the u.k. that have been the currently use lies enough. so the picture is going to look a lot clearer over the course of the next few months for warchest employers are going to be forced to culture view towards start furlough scheme cost so we are going to start seeing of an employment rate right now at 3.9 percent it's not really reflective of what the actual situation is as you've already alluded to the numbers that we've seen the drop in employment figures are given a bit more over flexion but even then very minor will have to wait few months to see what the full impact is is going to be the don't be surprised if we see
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unemployment close to double in the u.k. between now and the end of the year and that in frankfurt the bank of england has been providing stimulus so that of this crisis and it is in to that it will continue to do so how much of an impact will that have but it will have a huge impact in case of the bank of england stepping out that stimulus after i mean us seeing all of the bosses being ready. to support it by any stimulus measures and of of course also economic activity is supported by more stimulus but for now they're not planning any of they are just saying that if the economy is not calming fact as good as they are currently expecting there is room for more stimulus currently the bank of england is expecting a very strong economic rebound in the 3rd quarter with them saying that actually g.d.p. could buy as much as 18 percent to make up for that see rear drop in activity
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and greg briefly if you can how much of this downturn is here to stay. it's very difficult side of this moment and just how much i think it is going to be a toll from rod bach i think the next 2 years is going to be told for the economy in a couple of years time we're back to where we where i think most people will be relieved by that there is going to be a permanent aspects of us on employment we are going to have $7.00 to $0.08 unemployment that's going to take time to get bazza anywhere near the levels where at the start of this year craig are live in london and an adviser in frankfurt thanks to both of you. just 7 weeks after bringing its 1st coronavirus wave under control spain is once again grappling with the worst infection rate in western europe with more than $500.00 outbreak clusters germany has issued a travel warning for the capital madrid and the basque region that's war bad news for the tourist industry already struggling to adapt to
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a pandemic business model. the plot the 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 month july in madrid has been really unusual due to the worldwide pandemic there's been a freefall in the occupation rate 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 british people typically make up a large part of tourists here but they're staying away current u.k. rules say 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. and staying with the tourist
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sector uganda has reopened its national parks to visitors to help salvage its struggling travel industry while the locals can now visit the country's attractions and enjoy while the far east tour operator say that domestic tourism cannot sustain the sector as a whole is an important part of the ugandan economy that brought in over 1600000000 dollars last year mainly from foreign visitors. this couple is enjoying a good view of much use unfolds in uganda. the park was closed for tourists for 3 months. come from compiling. to the chance to travel here right after the coronavirus shut down it was nice to. plan the way in if there was this. but what out. in that alone would go that. route. and we had.
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what followed was a lot. of almost. we all probably up to the hotel it is not business as usual. the stuff like keeping good distance from the guests and there you just smile is he did behind the mask. all guests must allow the mandatory deceived fiction of their private rooms even when they have not checked out. to look at over tellings because before we could. take one capacity. or the wrong office of a home school we could put one in each room sometime but currently of course were guided by you know the woman is a pro. on the. international standards that every time you're
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keeping clients you have doctors to jump in with the next one unless they are all one family. and 2. against 6 yeah you cannot win against innocence and room for the next at least $40.00 so you didn't so i go but i see leave it uganda as just reopened its national park to target locals. but if you can afford to so far you treat that cost about $300.00 especially in the aftermath of the financial stress for looked down. but even before the pandemic uganda's tourism was heavily dependent on foreign visitors as. europeans and americans brought in most of the $1600000000.00 and from tourism last year. and before they can return tourism here is still far from recovering. and finally u.s.
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carmaker tesla will split its stock for the 1st time in its history this month investors will receive 5 star for every one they currently own the move will not change how much the electric car maker is 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 b.m.w. and fox wagon combined. and that's a show as usual there's more on. slash business i'm chris colbert in berlin thanks for watching ever so often successfully.
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and beethoven is for. beethoven is for covering. beethoven 2022 min 50th anniversary year on d w. the new coronavirus has already killed hundreds of thousands of people across the world and it's up in our lives changing the way we work and who we can meet problem is we can't see it stars close to is an invisible deadly threat that could be lurking anywhere. but not everyone believes that. this is now at night it's pure panic now i don't know anyone who's sick in march and you think people ski holiday makers and others. news in how it is nearly
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a year because we believe only scientists following the guidelines of the government are being listened to. clearly many only believe in what they can see where does that leave us when an enemy is invisible. welcome to you covered not in special here indeed all the news i'm monica jones and glenn good to have you with us now for months you have seen representations of the coronavirus like this one behind me but does the virus really look like this and does it matter yes it does because the better we know the virus the better we can fight it and luckily there are people who can make the invisible this appeal. brothers ben and had planned to be with their grandparents in england right now the corona virus pandemic made that impossible so what does the virus which is making so many people frightened actually look like. then.
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