stories like this one is the heart of the story why does it matter who live in. the focus if you want answers to cut through the noise to get to the truth. my name is sarah kelly and i put it to death. better late than never the beijing auto show begins in china as the country tries to show the world that its car sector is getting back to normal follows a 6 month delay because of coronavirus. in the biggest spin off in german corporate history siemens energy joins the front stock exchange the question is is it green enough to grow. and as europe's summer holiday season comes to an end we'll visit one of the areas where the hordes of tourists never came. this is the day we have

business on robots in berlin welcome to the program the beijing motor show is finally taking place after an almost 6 month delay because of the coronavirus pandemic it's the 1st major auto industry fast since the covered 19 outbreak and comes just months after reports a drop in car sales a record drop indeed the manufacturers passers by the economic fallout of lockdowns the event off as an opportunity to showcase their latest innovations as they strive to gain market share in the world's biggest auto market one of the highlights is the array of so-called new energy vehicles that's electrics and hybrids which make up 25 percent of the exhibition this year. let's speak to aunt ellen cost too much analyst with investment advisors bernstein how important was it for the chinese government to get this event off the ground this year. well look i think it's

a hugely important to show the strength of the economy it's back the consumerist back we're handling the coronavirus relatively well in china and we can show the world that we're also dominating force when it comes to the automotive business. who has seen the likes of b.m.w. ford showcasing their new electric cars s.u.v.s this time around but at the same time chinese companies are also doing the same how it german comic is going to compete with chinese electric cars on their own. well firstly china is the biggest market for the germans it is also the biggest profit tool for the german auto industry so it's hugely important and we have the electronic 2 power train really taking over and china being a dominant force increasingly in the manufacturing of bettery cells but also in connectivity and software of the cars and they're more interesting because coming

to the market i think the landscape for electric vehicles will be more competitive in china for the germans then it's a traditional field of combustion engine so it's going to be it's going to be tough in china i think the germans will focus largely on the european market 1st but clearly they have to defend their premium image in china and also support it with electric mobility and what about outside of china with all these advances in chinese electric com making technology is there are threats that germany and europe's comic has could lose out in their own markets. i think that's a limited threat for now because these you know eating markets in the u.s. in europe still relatively small and the europeans and the americans aren't very strong market positions in the traditional markets it's more likely an area of lower profit margins in the future so i think the chinese will just focus more on that chinese consumer and other consumers in in asia. on telling host from

bernstein thanks a lot for joining us on day to be business. now siemens has listed its energy business on the frankfurt stock exchange shares in siemens energy debuted slightly lower than expected valuing the company at 16000000000 euros some analysts had been expecting upwards of 20000000000 nevertheless the i.p.o. is germany's largest ever. some 91000 people worldwide work for siemens energy division it's the largest division in the company it's also the company's heavy weight when it comes to sales volumes as well. with almost 29000000000 euros in sales siemens energy is the concerns largest revenue generator of the divisions like digital industries smart infrastructure and mobility unnoticeably smaller. medical equipment division siemens health the news went public in 2018 and recently posted sales of 14 and

a half 1000000000 euros. it's conventional power stations which generate electricity using fossil fuels siemens energy is also active in the wind power business through its majority holding in siemens commies or however that company is mired in red ink and it cost cutting program there seems likely. on this let's cross to our correspondent in frankfurt asked to talk pandey ashutosh just remind us how we've got to this point. rob it's part of an ongoing strategy of like you heard in that report a. theme of this actually looking at slimming down and this is one of the steps that it is taking it has already spun off its head division we thought it had 10 years was spun off in 2018 then it has also spun off its a window buying business again messa the idea basically here is to increase

valuation of the company as a whole as it looks to focus on becoming an industrial technology company for now there is a distinct limited discount. there so the idea is that as you keep spinning off your individual divisions they're going to focus better on their own. performances and as a result investors are going to see the right word and value in the company so that's one of the measures that's demonstrating as far as the energy division itself is concerned it's time to focus on its core business because it's critical time for this division it is already the biggest new generator for the humans and now with all the energy transformation taking place it's going to be very difficult for it to actually use side of what's happening so it needs to focus on future energy of prospects and it's going to be challenging considering that it is responsible for one 6th of the electricity generation around the world and 40

percent of that is by cool so to get rid of coal is going to be certainly a major challenge as far as the siemens energy is concerned and that's where the focus is going to be going forward you know the company has been in some under some pressure let's say for its involvement in. activity in australia has indicated in any way that it is going to be working away from that sort of thing. well yes that has been the indication at least but they have also a flag that they have to keep in mind the interest of the customers the shareholders and everybody they have to keep everybody in mind before they actually move ahead with the phasing out cold so that's going to be tricky and something that we should all look out for in the future. i should talk from day in frankfurt thanks a lot for bringing us up to date let's take a look at some of the other stories making news around the world. a federal judge in the u.s. has hold a country wide ban on short video up tick tock the decision gives chinese are in

a bite dunsmore time to conclude it's still with us firms oracle and walmart president donald trump outside of security concerns in issuing the original ban meanwhile the u.s. government has imposed sanctions on china's biggest chip maker s.m. i.c. the american commerce department claims there's a risk that equipment sold to the firm may be diverted to military use experts say the move could hold the company's development back several years the music label behind hugely popular k. pop band b.t.s. priced its initial public offering at $115.00 u.s. dollars per share on monday big hit aims to raise more than $800000000.00 through an october listing on korea's costly investor interest is already high with demand outstripping the number of shares being offered. a recently retired diamond see date is that she has withdrawn his appointment to head the comic

a supervisory board known even outside of germany for his ad appearances as doctors has faced growing criticism from investors over his legacy diamonds profits outlook has fallen the maid rising costs dipping sales and regulator penalties. this summer holiday season in the northern hemisphere is just coming to an end but for some of the usual hot spots it felt like it never really came you tourism ministers are holding talks about how to rescue europe's tourism. young philip schultz reports from spain. while the season is coming to an end in most of europe the real action is just beginning on the spanish island off where to into it each. has lived here for 15 years she runs a kite surfing school and after months of coronavirus restrictions she's now hoping for a winter vacation or some sub tropical climate here is pleasant in the colder months and it's nearly always windy. i hear and i should arrive. and

i so we we have a lot of reservation not like us for long. more like asking for information how this situation is looking like now there are a lot of people from all over europe interested in coming here and i hope it can be possible for everybody because it's far less optimistic he runs a small country hotel in the interior of the island the restaurant is doing reasonably well but he says the hotel business has collapsed because for months people all over the world have been warned against travel to spain he has already had to let go several employees on his small team and he sees few signs of improvement. they were really good employees they always did a good job one of them ended up on the streets without work and without any form of support i think the situation could get even worse people's fear runs deep it's

going to be difficult to recover from all the. about 2 thirds of all workers on for 7 to a dollar from to receive the crisis is sitting the african and south american migrant workers on the island particularly hard many lost their jobs from one day to the next and do not appear in any official statistics under itself migrants work without papers in the hotels and restaurants on the island according to local age organisations and like other residents they're not entitled to any government support and for them the absence of tourists is becoming more and more of an existential threat to the island government's doesn't even try to put a gloss on things it is now pinning all its hopes on a meeting of the e.u. tourism minister says the government commissioner's hopes rest on travel connery draws his government's idea on the arrival and departure of the island could test all the tourists for the corona virus and existing quarantine regulations could be

lifted a hole in that meeting and 28th of september in europe they are able to say ok all european countries decide how to proceed to make those tests in the airports on the ports the government of the coyotes a multiple time today we have to budget with that money to make it possible they could start airport tests as early as tomorrow the politician said it would be expensive but it would be worth it if planes finally landed on the island regularly again. so for me in the business team here in berlin thanks for joining us.

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