to make way for his successor the trump model had real human hair which the sculpture said had been difficult to style a statue of president elect joe biden won't be ready for at least 2 months but staff are hoping it will be just in time let me just seems reopening later this year. so your news for now chris cover will be here in just a minute with all the latest business news i'm terry marsh and thanks for being with us. why are people forced to hide in trucks. there are many reasons. there are many answers.

and there are many stories. make up your. w. made for mines. as divided prepares to take office he's planning a huge stimulus package to rescue the united states economy from the effects of the pen demick will see what he has in store also coming up i'm going to marco says germany's lockdown will continue to build the middle of february as worries mounts over new. coronavirus strings. and chris cuomo welcome to the program and there is

no doubt that expectations are high when joe biden takes the oath to become the 46th u.s. president later today biden says getting the economy back on track cannot happen unless the pen demick is brought under control and he's prepared to spend a lot to make that happen his $1.00 trillion dollar american rescue plan includes a $1400.00 to die for $200.00 direct payments to most households $400000000000.00 in public health measures to control the pandemic now these include a national backs a nation program and a plane to plan to reopen school safely in the spring he also wants to raise the minimum rage from $7.25 to $15.00 an hour now taking a more long term view he's pledged to invest trillions more in infrastructure clean

energy and on buying american made products none of this will come cheap of course as well as boring a whole lot of biden is hoping to bring in additional cash by raising taxes on the wealthiest americans from $37.00 to over 39 percent now more statistics here 400000 people in the united states have so far died with covert 90 no other country has such a sad record and the failure to get the pandemic under control is not only costing american lives but jobs as well the new administration says it is demanded to stop both of these trends. almost a 1000000 americans made fresh claims for unemployment benefits at the beginning of january that's 5 times more than before the pandemic the unemployment rate in december was hovering at 6.7 percent big challenges for the woman set to be joe

biden's key economic advisor keeping people safe or getting them back to work better 1st. but then there's the longer term project we have to rebuild our economy so that it more pressed for more people and ensures that american workers can compete in an increasingly competitive global economy. no half measures here this last week joe biden an ounce to plans for a $1900000000.00 economic stimulus package interest rates will remain low as the federal reserve has already stated. janet yellen plans to make the most of this with new borrowing. right now with interest rates at historic lows smartest thing we can do is act big in the long run i believe in fits well for it we've the costs especially if we care about helping people who've been struggling

for a very long time and. the u.s. economy has shed $10000000.00 jobs during the pandemic the goals of the biden administration to reinstate those jobs and to revive the economy as a whole. here in germany where the coronavirus lockdown has been extended until february the 14th to try to stop could germany being overwhelmed by the new and then make wave measures also being tightened with stricter mask rules for people shopping and using public transport transit are going to mecca says the steps are necessary to protect people and economy from an exponential rise in the number of infections and potentially more infections new strains she said the coming weeks were crucial. now in a press briefing following the negotiations merkel said the new mutations very very

concerning. this to some us insight there's still time to contain the danger. but it would be completely wrong to think we have all the time in the wild side there that we must act now and yet that is what really got me and everyone else during the discussions today. to the. let's get the latest from our financial correspondent chelsea delay me in frankfurt chelsea lockdown measures are extended does that mean there's also more help for businesses. the determined government is definitely going to make more funds available for business we've seen the government basically putting about 10 to 15000000000 euros worth of aid to businesses that have been in fact affected by the lock down on the table every month since this new lockdown began starting in november again in just ember in january as well and what this aid is doing is basically helping to pay for fixed

costs for businesses it'll cover things like rent contracts electricity bills things that a company can't really avoid paying so they've been covering those costs for a lot of for a lot of companies a lot of retailers a lot of restaurants all of these businesses that have been shut down by the lockdown but there has been a lot of mishaps with this with this funding as well many businesses are still awaiting the november aid so what the government is saying now is that they will extend this aid but they also want to simplify the rules they want to get the money to fix this is faster they want to make it easier for companies to apply for this aid because that's been the big problem now it's been a cure chronic hang ups that have made this very difficult for the money to access the money and just the obviously extending the lockdown means that. the german economy stays shock as well if you talk to people there.

is that the right move keeping all this pressure on europe's biggest economy. i think all economists really agree that the best case for the economy is controlling the virus so i think most economists most businesses agree that what we need is to get the virus under control and then we can focus more on reopening once that's under control later on that really depends on how how much support the government is providing so the fact that the government is trying to make this simpler that is trying to support businesses that is a good step as well but we have seen a bit of a mixed effect on the german economy things like the manufacturing sector have been doing quite well even just by the lockdown measures while on the other hand you know the restaurant industry hospitality travel. retailers all have been hit really

really difficult having a really difficult time and with that we're seeing more and more concern that we will see a wave of bankruptcies later on in the year as someone starts to expire. to give germans the rights to work from hold how have political leaders address them into the negotiation. this was agreed upon yesterday and what they basically have said is that people who live or work in an area where there are more than 50 infections per 100000 residents are allowed to work from home if it's possible this comes as germany has really seen quite a bit of reluctance to allow workers to work from home so they wanted to make this basically a law that allows employees to do that there's also a lot of concern about exposure out work and people taking the train too much

people being out and about too much so they will give workers the right but i think there's still a lot of questions about how exactly it will determine who is you know who must work from home who can work remotely but it is something that they are pushing for in this likely will put more people and home offices chose to do live in frankfurt thank you. time now for a look at some of the other business stories making the news chinese state media say ali baba group founder jack ma has made his 1st appearance in public since october saying he held a video conference with $100.00 rural teachers china speculation had been growing that the billionaire businessman had fallen out of favor with china's communist authorities china's commerce ministry says foreign direct investment expanded 6.2 percent last year despite the pandemic it says it reached a record high of nearly $155000000000.00 service sector accounted for more than 3

quarters of that dutch and british investment group sharply shares netflix have climbed sharply on news it has topped $200000000.00 subscribers the world's largest streaming t.v. service added more than $8000000.00 new users last quarter despite a price hike it says it will no longer needs to borrow billions to finance t.v. and movement productions the beggar friend says to have thousands you could jobs and at least 170000000000 euros in assets have left the u.k. for friends and brags that london is still allowed to operate your of transactions in the e.u. for 18 months after that all your a financial transactions will have to be settled within the euro zone. now for decades it has been one of the staples of cuba's communist system the nation has been giving many items of daily life to its people nearly for free of cost regardless of how much they worked or not but this year the government is

implementing a deep financial reform that among other things reduces subsidies to help alleviate and economic crisis to many this is come as a shock. just $0.75 that's how much cubans would pay for a monthly basket filled with $19.00 basic products like meat coffee eggs or soap that was until the. last year now the price has increased almost tenfold and it doesn't and they're like well oh but riding the city bus now costs to pesos electricity and many other things have also become more expensive and shocking than lomotil a policy of. the government is increasing prices in the hope of boosting productivity and the economy 7000000 cubans are of working age and about 40 percent of them are not looking for employment getting by on what the state has provided them officials hope the higher prices will motivate many people to enter the workforce or they can

look forward to higher wages also only the cuban peso will remain in circulation. and this partial elimination of universal subsidies is sending a clear signal. if you want to be in a moderately comfortable situation you have to get a job. but then. the changes come as cuba struggles with the coronavirus pandemic which has crippled the island nations vital tourism sector to trump administration sanctions have also weighed on the economy with cuba's g.d.p. for last year expected to drop by 11 percent. and finally as one u.s. president makes way for another washington d.c. souvenir shops selling presidential merchandise also have to adapt trump dolls t. shirts hats all got to go that's being sold at low prices from shop

floor bargain bins to make room for a new product range this strop keeper says joe biden and common hairs merchandise is selling like hotcakes although he says more customers ask for harrah's dolls than for biden figures. what do you know and that's all from our show for this moment if you want more check out our website at b.w. dot com. the disco ball and thanks for watching there are still very successful. and this to face is a bookend to. sims 2 tourists disappeared some are struggling to make ends meet for others almost nothing has changed and they are always on the. this is how locals and digital nomads experience the crisis differently. 3.

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