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subscribe to the documentary on you tube. profits plunged. us china trade tension 2025 banking look at how it plans to. program facebook. news content as it continues to bog the government. publishing the. crucial textile industry has been badly hit close sales. in europe in the u.s.

. this is doing business on robots in berlin welcome to the program london based h.s.b.c. has seen its 2020 profits plunge by a 3rd the asia focused banking giants took a hammering from the coronavirus pandemic and spiraling tensions between china and the west reports of profit after tax came in at $6100000000.00 which the bank blamed primarily on higher than expected credit losses another bad debt sparked by current economic crises. speak talk correspondent in singapore andrea hang about this a tough year for h.s.b.c. so what is it planning to do to improve things well rob h.s.b.c. has spent the last 3 years conducting something of an overhaul and this involved culling some $35000.00 jobs a globally and that makes up about 15 percent of the entire workforce at h.s.b.c. now this is all part of his b.c.s.

pivot to asia where it sees a lot of potential for substantial growth and it's also seen as a homecoming of sorts going back to its roots in asia you know why is asia seen as such an important market for h.s.b.c. now. yes exactly especially since you know they've gone global and you know with the headquarters in london now moving back to asia now it has b.c.'s global asset management just to give you an illustration robot managed to flow though $506000000000.00 u.s. dollars in assets in 2020 and asia represented about a foot of this another moved to asia while the economic conditions are allowing it and pushing it it's also seen as a as a cost cutting measure but beyond that we have chief executive nor quinn was says there's much business to be had in asia and even in the middle east so asia becomes a gateway to that and in the wealth management has the should be is well the great

a big area in china and south asia even there's a lot of potential for growth according to mr quinn h.s.b.c. is an unusual position isn't it with such a big presence in your but also in china hong kong of course is it a particularly vulnerable position given that particularly with the increasing tensions under the west. absolutely rob given its you know relations with china and being in the middle of china western tensions. in a vulnerable position a lot of it has to do with the global criticism that's release of the year regarding the crackdown china's crackdown on dissent in hong kong and you know that's become a large pill for each as the sea to swallow so coming back to hong kong is a little bit closer to you know to

a little bit closer to china i beg your pardon and the proximity from that also allows it to a little bit more freedom of movement and also getting also normal quinn has been summoned by the u.k. courts to testify over the closure of a bank account of a now exiled activists hong kong activist we saw all the suppression points are what pushing h.s.b.c. to come back home so to speak and to hang in singapore for us thanks for bringing us up to date. now to some of the other global business stories making the news shares in brazilian oil company petrobras tumbled more than 20 percent after president jaya both sonora replaced the state company's boss fuelled fears that he might try to block further energy price increases as he eyes reelection also criticised better grass raised fuel prices by a 3rd this year. microsoft has announced it will work with european news

publishers to set up a payment system similar to australia's proposed new scheme it requires companies like google and facebook to pay for articles they link to. and speaking of that facebook has agreed to lift its news blackout on australian pages out of the country made changes to its proposal to make internet pay for content the social media platform had blocked uses there from accessing news in response to that tropical. let's discuss that further with our financial correspondent in frankfurt ashutosh pandey so why has facebook done this you ted. well it's simple because it got many of the amendments that it was seeking from the australian government it says that now the new changes that the government has agreed to address its core concerns and they recognize the value that our platform

provides to publishers. relative to the value view to see from them so facebook has clearly maintained that it's the publishers who use its platform to reach a wider audience unlike say a google which actually chooses to publish articles on google news it's not the publishers who are doing it while entirely there so this is one concern that has been addressed the australian government has given more time to online platforms to reach agreement commercial deals with the publishers before any sort of arbitration kicks in and i think there's also an element that facebook was very that its strong action was perhaps the fiasco of bad p.r. exercise in other countries which are also looking to rein in these big tech companies you're speaking of which you were just saying about microsoft working with news publishes in europe what are they hoping to achieve. well it's again it's a similar case but. the european publishers are

a step before ahead here because the licensing there is reforms already in these popular tools it didn't in 2819 and those rules actually say that there should be these commercial the struggle between online platforms and news publishers and musicians but now these companies the news publishers are very that these small publishers but has may not have the heft or the financial might to strike fair deals with these big companies like google and facebook and that's what they're saying that this should be a provision of arbitration and online platform should agree to and now be ration so that a fair deal is reached. thanks. now the text on industry in bangladesh employs around 4000000 people but it's in trouble knockdowns in europe and the us of many orders by major clients have been drying up it's

a disaster for an industry that makes almost all of its money from exports nazri doctors can spot anything the bangladeshi garment factory worker chick's children shirts for production flaws most of them will be exported to germany the young woman and her colleagues have a difficult year behind them german stores have been closed down due to the lockdown restrictions and that hurts the seamstresses. i wasn't very afraid of the coronavirus but there was a concern about the pen demick situation i was worried about whether my factory would continue operating will i be able to continue my job those were my concerns the women so for the german fashion company kataki a european wholesaler. several buyers cancelled orders in the past year and that's been keeping entrepreneur mohammed how tom up at night. we've had 30 percent less orders than we normally have 30 percent less.

the german company has its rina and staccato brands so on here they also produce clothing for the irish budget retailer prime mark. we don't have any prime our quarters none yet 0. current lockdown in germany has meant the entire winter collection hasn't been sold in many stores the textile trade association estimates that half a 1000000000 articles of clothing haven't been bought as a result this bangladeshi company barely survived last year mohamed how temp a does employees with loans from the state bank but now he has to pay those loans back meanwhile cotton prices are rising so customers will have to pay more if the company is to survive. the current situation is daunting for nasri in october she's the only one in her family who still has work her husband lost his job and

had to leave the city because it was too expensive now her whole family depends on her factory income of $125.00 euros a month. with this little income now i have to run my family it's a situation full of hardship my parents will have to manage their expenses at home on their own and. many of her neighbors are now unemployed 100 textile factories in bangladesh had to shut their doors for a 1000000 people work there most of them women ultimately it's shoppers in europe in the us who determine whether or not screen actor gets to keep her job. and most african economies saw their g.d.p. drop last year as a report from uganda where every 3000000 jobs have been lost to the coronavirus crisis. originally moranis a teacher but since mid last year she vents fried cakes in her neighborhood in

kampala. she stopped teaching when the government closed schools last year too limited a sprig of corporate 19 now for us in the private sector. where we've not been paid by then when be. up. so the life is really very high and the upper up close of employment has pushed on to find an alternative livelihood she has told herself to make fried kicks but she's struggling to make a profit i have this skill out of the lay down but often that i can move something but i'm stuck because i don't have the. outermost business as i wait for. and even when during one of these do something because this situation i spoke and i was

opening my mind. thousands of schoolteachers in uganda have lost jobs and their notes the only ones facing the rough of the coveted 19 so sure economy impact across africa robot cars we borrowed money from a commercial bank to open a bar in kampala but his business has been closed for. he wants the government to lift the country away to night time curfew until it bans a pirate i think it's all about giving us a chance to come up with our own. money the numbers coming through then we can get opened up because really this is really really really long overdue we can operate at minimum numbers that for example we're getting the full capacity 100 people it can work on recently started ok but we get moving local researchers in uganda reports that more than 3500000 jobs with temporary lost last year

due to the pandemic. and with a projected slow recovery many africans like a moron may not be able to improve their livelihood at least in the short or medium tom. and that's all from a in a business team here in berlin to check out our website either way dot com slash business about. movies bridge of mine in new zealand time for thousands of residents. in 2015 we followed 3 people through their daily lives with his hard ship. now the bush is in danger of being demolished in a desperate situation. comes up. next on d w. what secrets lie behind the swap. discover

new adventures in 360 degree. and explore fascinating world heritage sites coogee w world heritage 360 get kidnapped now. that the. huge construction project is underway in kenya's capital nairobi they're widening one of the main freeways. this bridge is due to be torn down it's located in the impoverished district of containing. robey correspondent sabina borland calls it the bridge of minor and holes in $2015.00.