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tv   Business - News  Deutsche Welle  October 9, 2020 8:15am-8:31am CEST

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and that's what you go getting out of and for i had to believe population of red flag and i'm being harry becoming more and more did it go. people go from body into a flowing cat leaving in the can because you can and you can look and got exactly again soledad that being a black prophet thing could a emanuel's thank you sir very much very volatile situation there is a rigorous process right next to the leverage process thanks very much. that's all we have time for thanks for being here. why are people forced to hide in trucks. there are many reasons. there are many answers.
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and there are many stories. make up your. job made for mines. $4516.00 that's how many new coronavirus cases are reported in germany within the last $24.00 i was the virus is spreading fast and with it the fear of what it will do to the economy will speak to the president of germany's e-file institute also coming out this. bain's economy keeps sliding while the case
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numbers are rising in the states tries to ease the pain with stimulus with the help doesn't reach everyone. and no it's not a cure for covert 19 but can a business constant lot of other medicinal benefits and thailand wants to cash in on the. welcome to do business i want to get good to have you with us. the coronavirus pandemic is back not that it ever left but things are certainly getting worse all across europe including germany but lin has turned into a hot spot which prompted authorities here to introduce stricter closing times for restaurants and boss but things that even worse in neighboring france which reported a new all time high with almost 19000 new infections in a single day in paris all because of cafes have to remain closed for 2 weeks other cities in france could follow suit and in belgian the capital brussels to all bars
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and cafes have to close for a month scotland has ordered to the closure of pops in larger cities such as edinburgh and the whole of britain could soon join and meanwhile in italy it is now mandatory to wear face masks in public even outdoors and poland might even introduce a state of emergency this weekend to keep soaring case numbers under control so dramatic scenes here what's this escalating health situation mean for the economy well for that let's bring in claimants fusees the president of the institute like nets institute for economic research at the university of munich and he joins us now good morning to you up so i mean here in germany the situation is getting worse we can see that every day but politicians across all parties insist there won't be another lock down do you believe them. oh good morning monica i do believe they would like to avoid the lockdown but the truth is it's already coming it is not
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that general lockdown it's more targets of i think that's a good idea because the harm on the economy will be less the lockdown measures will be increasing so another type of lock down is coming that's unavoidable. in some ways it's also welcome because we need to rein in the americas as no where exactly of course i mean health comes 1st but the pandemic with or without a lockdown in whatever shape or form is already hurting business hospitality suggests at least 3 lances are left high and dry when do you see the so far not yet this it will insolvency tsunami which a lot of experts have predicted. i'm not sure it will be a tsunami but certainly a growing number of model insolvencies will be felt while a larger companies what we see is a lot of free runs and smaller companies in difficulties hotels restaurants and so
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on and here are the insolvencies are less visible what's going on it is that these people will be looking for other jobs and help from the welfare state we will see that increasing and of course. also weighs down on the economy as a whole because these people stop consuming these people stop investing and of course looking for other jobs those jobs 1st of all have to be available and we learned yesterday from the world economic forum reported that unemployment will be the big topic in the next decade so looking ahead hopefully at some point we will be able to control the pandemic what will be left of europe's economy the way we know it. i think the economy will be changed there will be more digitized but it will also be poor or it will be more he quote will be able loaded with that it will be more unequal because we are making it difficult for young people and the labor market we are shutting down schools and people are probably less educated
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background so there will be a lot of work for governments to to compensate for it we are facing difficult times writes this clements forced head of germany's think tank the evil institute in munich thank you so much for your time thank you. and spain is among europe's hardest hit countries the economy there slumped by around 18 percent in the 2nd quarter and the downward trend continues as tourist tanks and events are canceled the spanish government has launched an extensive social support programs including a short term work allowance which guarantees with a 70 percent of their wages but the virus has already left scars on many lives there. volunteers prepare over 800 meals a day here at this emergency food bank in palm of them a orca. mellow is working in the kitchen he's a top chef but he lost everything because of the coronavirus pandemic. that's when
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all the problems began i had everything and then came months during which i lost everything was no help or a lot of promises but nothing came. of. thanks to the food bank tiago lima de mello's surviving he invested all his savings in a restaurant thanking the pandemic and the lock down the restaurant how to close today he lives in a tiny room beside the kitchen. this is sometimes you don't know what you're getting yourself into as with but it all happened so quickly that i didn't have time to react you always think i won't teach you want all the time comes. that i think that. there are hundreds of thousands like tiago in majorca alone this grim social drama could get worse. than 85 percent of all families who ask for help of not being able to pay their rent for 2 to 4 months almost none receive the basic
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social income and many have not yet received the short term work allowance if they were entitled to toll. live in madrid is painfully aware of this problem she's a dancer but she can't perform she's been trying to get support for months she also hopes she'll get a basic income that would give her 460 euros a month. yes us here ya go mall it's my last attempt to get any help the aid for art isn't coming i don't get on employment benefits either you. know one of the ministries involved can say why the aid is flowing so slowly the spokes person is not available for comment so we asked the trade union to explain. the situation came as a complete surprise like the pandemic itself but on the other hand the idea of basic income is something completely new that has never been seen before and these are new applications new permits me. back in majorca tiago only sees his wife every
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few days she now lives in a neighboring town and also only has a small room to grow out of are separated the mood is getting worse. or lawyers are dominated by fear and worry but you don't know what decision to make this uncertainty. this year an estimated 1500000 people are reliant on food aid from the government and charitable organizations. and how is the market holding up amidst all of this let's ask. in frankfurt chelsea good to see you so the coronavirus funday make is coming back in full force here in germany some states won't even allow tourist from national hotspots to stay overnight at 70 bad news for hotels in the rest of the sector right. absolutely this is a major concern for the hospitality sector which has already been struggling enormously over the past several months in particular because this likely will
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impact domestic travel within germany which had been really the bright spot for the for hotels and for the broader hospitality industry here in germany many people had and sort of going to spain or to greece over the summer really started to travel within germany so that had really been helping to support the overall industry for example in august we saw foreign travel and foreign hotel stays down by about 5055 percent but that was a much larger decline for domestic gas so now that we are seeing more and more restrictions on domestic travel that will impact hotels but also as you mentioned restaurants and also other industries that serve tourists and are really aimed at helping taurus. to blow just briefly if you will skips investors on their toes now at the the end of this tumultuous week all eyes are really still on the united
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states investors are still watching these stimulus just discussions very closely we've seen a lot of back and forth between the white house and democrats over whether there will be a stimulus effort it does appear that those talks are back on but that will be obviously very closely watched as well as the out outcome for the u.s. election all right chance to do a new front food thank you so much. now a brief look at some of the business stories making news. the world's oldest computer company i.b.m. is splitting itself into 2 units to diversify away from its legacy businesses and focus on high margin cloud computing i.b.m. will list its i.t. infrastructure services unit with new name by the end of 2021 i.b.m. stock was 7 percent up on the news. a french court says google must open talks with publishers in france about paying to use their content paving the way for an
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industry wide deal in the country the ruling compels news aggregator google to sit down with publishers and news agencies to find a way to pay them for content to use under e.u. copyright s. . now that is not a cure for covert 19 but it can help ease chronic pain and conditions such as multiple sclerosis and epilepsy cannabis and there's plenty of it in thailand and now the government there hopes it could also be a look at if exports hit. elsewhere it's inconceivable the health minister the man in the middle aging in the cultivation of cannabis a newton child of iraq will join the hundreds of employees of the thai government pharmaceutical organization g.p.o. in this ceremonial planting the shrubs will be used to produce medicinal products completely legally and on behalf of the state. had one lakh and p. oed over that that market up but the greenhouse can control various factors about
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the growth of the cannabis i had nonfat my teeth out fine and that enables us to extract large amounts of cannabinoids from the plants you know the numbers like that and they reduce the cost of producing it as a product in the future has been picked up and up by that. for almost 2 years it's been legal to cultivate cannabis in thailand under controlled conditions it's going well with some of the crop even being exported. for now only massive state run facilities like this one can grow it but the thai government is already planning to put medicinal marijuana plants in the greenhouses of private growers. and finally this just in your next is buying the land stock exchange for 4330000000 euros and we'll have more on that later that's all thanks.
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i'm. one continent. 700000000 people. with their own personal stories. we explore every day like. what europeans fear and what they hope
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for. on their own. d.w. . first girl who could have 0 knowledge. in some. degree about. exactly. you're going to gain me me me. me. hello and welcome to a new edition of focus on europe we begin today's show with a conflict that might be far away from europe geographically but still has a direct impact on our continent witness says of the syrian war
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a tale harrowing stories of arbitrary arrests torture and killings by the syrian secret police.

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