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tv   Business - News  Deutsche Welle  December 11, 2020 7:15am-7:31am CET

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but this year's event was without the crowds to decode the 19 and was streamed live online instead. you're watching the news from berlin up next is business and the economic fallout from the kona virus here in germany there's more news after you dot com and you can also follow us on instagram and on twitter i'm like a local for me in the entire news team here thanks for watching. every day counts for us and for our planet. in the ideas is on its way to bring you more conservation. how do we make cities streamer how can we protect animals and their habitats what to do with
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all our waste. we can make a difference by choosing reforestation over de forest recycling over disposable smart new solutions oberstein said in our. earth is truly unique and we know that the uniqueness is what allows us to live it and survive good why do you as be a modern mental soup to global 3000 on t.w. and. 2 coronavirus cases soar in germany raising the likelihood of wider more serious lockdowns across the nation with major consequences for businesses and workers look at what it might mean for europe's largest economy. europe's central bank says it will do more to help lead the country's b.c.b. boosting its bond buying program to keep cheap cash flowing around the block.
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welcome to the show i'm stephen beers in berlin. germans woke up thursday to a shocking headline nearly 30000 new coronavirus infections registered in one day the most yet in a single day and the latest sign that the 2nd wave is careening out of control in the country and could take parts of the economy with it one more reason for broader help perhaps to that end the european central bank announcing thursday that it's expanding its already massive monetary stimulus program as the pandemics impact on the eurozone economy drags on the e.c.b. said it's adding an extra $500000000000.00 euros to its bond buying fun taking the total pot to $1.00 trillion euros rather it's also keeping interest rates at historic lows. the record number of new coronavirus cases comes as a shock for many germans and it suggests tougher lock downs are more likely than ever. store owners could suffer from stricter measures they may have to close
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nationwide this christmas season and the most important shopping event of the year . the head of the european central bank christine like out now says the lender will do its part by keeping powering rates low for longer in hopes that money finds its way to ailing businesses and into the wider economy. preserving favorable financing conditions over the pandemic period will help to reduce uncertainty and bulls to confidence there by encouraging consumer spending and business investment and ultimately underpinning the economic recovery and helping to offset the downward impact of the pandemic on the projected pilot of inflation. the e.c.b. is helping markets by its pandemic emergency purchase program or pep it began in march with a fund of 750000000000 euros and was ramped up by 600000000000 in june now the
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e.c.b. has added another 500000000000 bringing the total for the stimulus tool to 1.85 trillion euros the frankfurt based central bank promises more emergency bond buying that's expected to last until march 2022 and that will give banks cheaper access to money the hope is that it leads to increased spending with governments and corporations investing as much as they can to work themselves out of the deepest economic crisis in decades. all right for more on this let's bring in our financial correspondent frank search chelsea delaney chelsea good morning this decision was expected actually actually what does it really do for europe's pandemic response. well the message here from the e.c.b. is really that they're going to be here to support the european economy and still a long after this pandemic is over so the size of the expansion 500000000000 euros is really not that much it's not a bazooka but what's really important is that the e.c.b.
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has extended a lot of their programs through 2022 and in some cases through the end of 2023 so they are looking at a very long time horizon here and saying they're ready to add more stimulus to the economy and as well this comes as you leaders on thursday finally reach a breakthrough on this 750000000000 euro recovery find that will also really help those the economies of both the monetary and the fiscal side are signaling that they are ready to give more support to the economy and chelsea 323-0000 new infections in germany in one day that's a single day record raises the likelihood of wider lockdowns should we expect europe's largest economy to come to a halt again. it seems pretty much set in stone now that we will see harder restrictions coming and germany given infection numbers a number of state ministers a number of politicians here in germany are calling for
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a hard lock down now that will have a much harder impact on the economy than what we've seen through this lockdown light and that means that in particular the retail side of the economy other businesses are going to get hit a lot harder the big question is what this will mean for the industrial side of the economy and whether that will be impacted as well because that's been really the bright spot and that's what's been keeping the economy going chelsea lately in frankfurt thank you. we go over to russia with a pen dimmick in the steep drop in oil prices have taken a bite out of the country's economy that's increasingly visible in the country's currency now a year ago one us dollar could buy you 62 roubles. the currency dramatically weakened in the spring and is now in a slow and painful recovery but it's still lagging at $72.00 rubles pradelle are and that discrepancy is weighing on investors but is not the only thing a new survey of german companies and investors in russia shows that some 70 percent
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of respondents believe political relations between the 2 countries were worsening majority also believes that russia's economy will stagnate or sink in 2021 and for more on this i'm joined by. who covers russian politics and business good morning mikhail. how much of this when we talk about the russian economy how much of what's going on right now is related to the shock of this pandemic oh well make is said only a big factor for the russian economy but it supposed natural problems of the russian economy in the tase. in the 1st line it's the russian economy model which is stagnating oil and gas. experts just don't boost the economy further so the reserves are basically empty and that's the
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one. main factor the other toy is certainly the weak ruble only this year it lost around 30 percent of its value so these are the main and key factors to look at here would you say then that when the coronavirus threat sort of receives a say vaccinations take place greater human human herd immunity rather is achieved and oil prices rebound with the russian economy then b. and a better place or where those with the structural issues start to come through regardless . well you know the structural issues are here to stay and that's the 1st point the 2nd point is that to a certain limit the russian economy east he's going to be better off with a pandemic over and oil prices on its way to recovery so but with the political system in place. and with the russian economy
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model in place we are not going to see and other economic miracle there in the east why do investors right now see relations between russia and germany being so bad political relations well just one comment on dot i wonder why they were so upset mistake all the way. i'm pretty glad to see that the rationale now is gaining the upper hand because the relations has been declining all the way it started many years ago and it was boosted by the expiration of crimea this is a nation of some political fruits of the kremlin etc etc so i think now the german interpreters are kind of bottom to the earth that's that's the
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point all right mikhail was sure of with georgia vella thank you very much thank you well as you may have heard the u.k. is set to leave the european union later this month rather i should say it's already withdrawn the trading rules are set to change the in this month and yet as negotiations go on no one knows what will replace those rules among the worst affected by the uncertainty are british farmers. these fields have been cultivated by monte andrew's family for 5 generations the farmer they take right rex it he hopes to reclaim the freedom and independence of pre e.u. days wanted to take things back into his own hands just like boris johnson promised . but now with bricks it looming he says he feels abandoned by his government. well it's like driving into a fog with no lights is made. i don't know i don't really don't know if you if.
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we want to do it or do it up there is no to think of just a lot of talk on the television but there's no what do we do. andrew's dream was for britain to become an independent trading power again after brics it. but independent still requires structure a framework. will there be trade agreements or not if you go to the standard what it's doing at the moment it doesn't so we're on our own we'll go back to the wall again. but don't worry we're you know we're we're resilient people we know will come through it. like i'm sorry no more than. you know you. wheat farmer andrew brown forced to stay in the e.u. with its common agricultural standards. these are higher than those in the u.s.
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the country boris johnson wants to close a trade deal with. a trade deal that could spell ruin for farmers like him. the way they treat their animals i think is absolutely appalling that they're saying they won't allow low standards food into the u.k. that is that is produced at lower standards than ours that they refused to put back into into law. but yet such a law would grant protection to british film as brown and others like him simply can't compete with the known costs of industrial farming but so far only has a vague promise says and you guarantee that imports will have to be at the same stand of the week drug yes absolutely there's no point in having on the environment with a high and i'm a welfare stand is if you lend a lot of them to be on the cop right side and ultimately if you have high standards
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here and then you alive food in from elsewhere you're not really contributing to animal welfare or higher environmental standards you're simply offshoring those low standards and that's wrong but with rex at less than 3 weeks away an actual nor guaranteeing this is still not being passed. and finally it was the biggest i.p.o. of the year and it turned out to be even bigger than expected shares of the vacation rental company air b.n. b. more than doubling during the technology giant's long awaited stock market debut devalues the company at around $100000000000.00 and that despite air b.n. b. being hard hit by the pandemic it's rental numbers collapsing. and that's it for me and the business team here berlin to check us out online dot com slash business. let's watch.
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journalists montenegro. just. brutal crimes are commonplace in the west country. drug lords biased legal system and corrupt politicians are responsible. for.
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these. next. what secrets lie behind small. discover new adventures in 360 degree. and explore this amazing world heritage sites. p.w. world heritage 360 get capped now. a warm welcome to this week's edition of focus on europe thanks for joining us today more and more migrants are hoping to reach the u.k. now because they fear exit deal may make it tougher to enter the country dreams of a better life are leaving them to embark on the risky journey from france across
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the british channel some are getting on i need boats using shovels as cattle.

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