rob watts stay tuned for the i'll be back at the top of the next hour until then you can get all the information you want on all our stories from our web site that's it dot com you'll find social media too i'm terry moore thanks for. the life curse good morning to you coming to you and. joy get to coincidence. that 10 previously the earth was just a messy chemistry lab taught me to play. the impossible but

some good news from the creation of our solar system with our planet is a bit like winning the lottery there is a good. one 1st. start feb 11th on t.w. . will it be super mario to the rescue all the head of the european central bank mario draghi is set to lead a new tally in the government can he guide it's a leaf through its pandemic and that crisis. which a bank is expected to have returned to an annual profits during 20 twentieth's will discussed how it turned things around during the pandemic. and tens of thousands of check workers cross into germany every day we'll see how they're coping with the

news content ratio. this is going to be a business. welcome to the program. former e.c.v. chief mario draghi has accepted the task of forming a new it's highly in government the previous government of prime minister giuseppe conti fell when his coalition collapsed last month after meeting president said in rome druggy said he was confident of securing sufficient backing in parliament many see as the right man to stay asleep through a double crisis the country has been hit especially hard by covered 19 while its economy has been in crisis mode since long before the pandemic hit let's get more on this from our financial correspondent frank conrad they call him mario draghi for a reason because of his handling of the eurozone debt crisis but does he have what it takes to stay in italy through this crisis he certainly has

very very strong credentials rob and not only in europe but also italy itself and you know it's the italians who have to be convinced that reforms are necessary to allow the country to stay a member of the euro club reforms of the pension system reforms of the system how italians are encouraged to join the workforce of course this will not happen in one day and it will need many more sentences many more talking than just one whatever it takes maybe mario druggies chance really is that at the moment nobody wants a new election italy the country like everyone else in europe is going is still going through this pandemic. the news is just settling in italian government bonds racked. up a loss spread the spread between italian government bonds and german government bonds which describes the risk that investors attached to it tell you in bonds this spread has narrowed it has gone down so obviously investors are

a little bit hopeful that drug druggy can manage to reform this country and reform the finances of italy and after all druggy would really have a lot of money to spend the country is the number one beneficiary of the european union's corona rescue fund. contribution in frankfurt thanks for bringing us up to date. next bank is expected to post its 1st annual profit in 6 years the bank will report its 2020 financial results later this morning germany's largest land has benefited throughout the pandemic from surging investment banking and trading revenues that's helped offset the impact of over a low interest rates and higher loan defaults due to the pandemic or sense of profitability would be the latest sign that a massive restructuring effort launched in 2019 is starting to pay off.

but let's discuss that with hans peter birkhoff who is a banking expert at the university of oregon i'm thanks for joining us on do we have business so a return to profit in a pandemic yeah how has tortured bank been able to do it. well i think the windfall came from the pandemic as well so all clients have to restructure their financing situation in mass need for capital market transactions only loan they need their over tears to jack their response fall into situation and all this is good for the larger bank because they can provide a full service or 2 man on that or the other and well the restructuring was to some degree successful especially the ability of the link to to calm down the internal conflicts was in dodge about between investment bankers and commercial banks which have to totally different cultures to some degree this has been also helpful to

pacify the bank to get it moving in the right direction other pandemic problems still to come so well with potentially more people or more businesses defaulting on their debts in the coming year. and i'd say so yes for sure the 4th will come later and they all are for sure leave the traces in the balance sheet of any bank that will be active and loan business that what are the banks bilious under greece but on the other hand there are also the positive sides with my work in favor of german banks and along with it you get into contact with a good client and this client for many years didn't need a loan because the capital was available for them and then they have a nice profit for in 10 years of economic growth so there is a new business coming some form of bank might draw a little bit out of the german market because they're concentrating on the whole market and all this together might help boys to get on a better track in the future after well. run through the sick pay off accepting

the losses from all the engagement that will last year with a crisis there's a solid capital buffer now in most banks or to buy a particular well so their moment of crisis that runs out at the expected to run out now there's no threat to stability to the back in this attack and in particular to talk about you mentioned other banks i mean germany 2nd biggest lender comments bank didn't have such a good year last year a loss of 2900000000 euros why are they having such different fourteen's well i mean they were deeply struck by the debate on thursday we thought about that all the political move from the minister of finance but it cost the commerce time a lot of the trust many medium and large companies had and the bank can deal with as a specialist on this kind of the. special than as a mere businesses and so there's

a lot of trust was household. that had internal turmoil as well so that they're not passive type in terms of like deutsche is at the moment a lot of reputational issues hanspeter berkoff from the university of holland i'm thanks for joining us. there are time now for a look at some of the other business stories making the news dima plans to split itself into the stock got automaker says it will spin off its truck and bus operations into a new company to be listed on the frank stock exchange the remaining business will house its car operations and be renamed the sadie's benz. the e.u. and the u.k. are looking into nvidia's $40000000000.00 acquisition of british chip designer arm competitors say the company will have an unfair advantage arms chip designs are widely used by apple samsung and other smart users.

now every day tens of thousands of people from the czech republic cross the border into germany for work many of them are employed in industry or in the health care and hospitality sectors but coronavirus restrictions are making the crossing a lot more complex. 7 in the morning in fulton violet on the czech german border yuri burma is on his way to work in germany to enter the country he has to show a negative coronavirus thirst every 48 hours his appointments are made online the test done in a former customs house we're not allowed to film inside there a doctor takes a nasal sample to see if you use dealing with a corona virus infection. after a 20 minute wait relief comes in the form of a text message on his phone. i opened it opened early i'm

negative now i can get into germany it's fought in the czech republic as much china corona virus infection rates than germany the rapid tests for commuters are aimed at keeping the border open and lowering infections. 10 minutes later uribe burma is at work in the printed circuit plant of his employer deltec. a qualified electrician is responsible for several production lines which make printed circuit boards for the auto industry. his wife and their 2 small children live in the czech republic a mere 15 minutes away from the plant but he still doesn't feel like relocating to germany. i've bought a house there i've got mortgages and needs renovating the situation is too difficult to stay in germany right now it's not. over 2 thirds of the company staff commute to work from the czech republic deltec couldn't function

without them. most of them are well trained in electronics. and we're grateful we can employ people like these. $4500.00 cross border commuters come to the district of. many of the highly qualified specialists who are in high demand the district chief administrator wants to keep the border open for commuters otherwise a lot of local businesses would go bankrupt that's why the state of bavaria is paying for the tests. they pay their income taxes here painter our social security systems. and that's what justifies the free state of bavaria to pay $18.00 euro's for a fast antigen test just 18 euro's it's the same thing we do for the local german population as well. with almost $25000.00 commuters in the area alone that adds up

to quite a sum of closing the borders don't be far more expensive and the terrorists don't bother yuri burma too much he just doesn't want to lose his job pays him a 3rd more than he did earn back across the border. and we can now bring you some breaking news deutsche bank has confirmed its 1st full year profit since 2014 with an overall profit before tax of $1000000000.00 euros last year in the last quarter of deutsche bank is expected to post its 1st annual profits in 6 years sorry that's obviously an error the bank is going to report so i. clearly the the words that are out in front of me are not quite correct but germany's largest lender has benefited throughout the pandemic from surging investment banking and trading revenues that's helped offsets the impact of ultra low interest rates and higher loan defaults use of the pandemic a return to profitability would be the latest sign that

a massive restructuring if it launched in 2019 is starting to pay off in the us and just said before tax profits of a 1000000000 euros for 2020. other reminder of the top story we're following for me mario draghi has accepted the task of forming a new italian government many see druggy as the right amount to stay it's only through the pandemic i'm going to ongoing economic crisis. and that's all from me on the business team here in violent if you do want more from us to head over to our website. slash business you can check back on previous shows that go to all of the latest business news from around the world and find us of course on facebook on twitter just ahead i was there a search for business thanks a lot for joining us and until next time and see. what

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