tv Business - News Deutsche Welle March 24, 2022 10:15pm-10:31pm CET
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20 group of industrialized nations. ah, you're watching. he w as my colleague rob was, is coming up next dw business. i'm abby quote. awesome. thanks for joining us. with people and trucks injured when trying to flee the city center. more and more refugees are being turned away at the border families playing bomb attacks in syria to these credit on with people lean extreme around getting 200 people for something around the world. more than
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300000000 people are seeking refuge. yes. why? because no one should have to flee. make up your own mind. d. w. made for mines. ah, the economic consequences propping up the boot in western leaders meeting in brussels bow further sanctions against support is that the russian government, the u. s. president issuing a warning to china. meanwhile, u. s. and european companies who continue to operate in russia are under increasing pressure to pull out. we'll hear from the yell university team is keeping track of them. are moscow stock market search is, is trading reopened after almost
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a month, but rally is perhaps not all. it seems as to see to be a business on robots in berlin. welcome to the program. western leaders are pledging to impose further economic sanctions against the russian government. over the invasion of you crime that back to back meetings of the e nato and g 7 in brussels. they also promised further military a to the ukrainians. there was president joe biden says, countries expanding its sanctions to target members of the russian parliament and defense contractors. he also says he's warned chinese premier, she, jim ping against supporting hooton's regime. i made no threats, but i pointed out the number of american foreign corporations left russia as a consequence of their barbaric behavior. and i indicated that i knew how much he, because we had long discussions in the past about his interest in making sure he
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had economic relations and economic growth with europe in the united states. and indicated that he'd be putting himself at significant jeopardy. and those, those aims, if in fact he were to move forward or president by to mentioned that the hundreds of western companies have now halted operations in russia following the invasion of ukraine. but there remained some big american and european names still operating in the country. however, pressure to pull out is there any growing for the employees of this were no plant near moscow. the news came as a shock this morning at the start of their shift. they learned the assembly lines are grinding to a halt. a russian employee appears before the press and explains in french, the plant is closed for an indefinite period. all car production has stopped. it's a $180.00 degree turn around on the part of renault. just a few days ago, the french carmakers said it would continue to produce in russia despite the sanctions imposed in the end. the pressure from customers and politicians was too
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great. just this wednesday, ukrainian president volota musa lensky, spoke to the french national assembly via video link and appeal to their conscience . from lucy, combining orange companies must leave the russian market ha, renault, osha, the roy mella and others. we need to have started with his former ladies. they must cease to be sponsors of russia's military machine, with sponsors of the killing of children and women, all sponsors of rape, robbery and looting by the russian army are, all companies must remember once and for all of that values are worth more than profit is miss crippled, yale university in the u. s. has published a hall of shame, a list of companies that continue to do unrestricted business in russia. among them are the swiss bank credit suisse. gotcha, telecom and chinese computer manufacturer,
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lenovo. some companies such as nestle and astrazeneca are fighting back against the accusations and defending remaining in russia. they argue that they have a responsibility to continue supplying the russian people with a central food and medicines. while i've been speaking to jeffrey, sullen felt he and his team at yale school of management have been maintaining a list of companies have either pulled out or remained in russia. i asked him if he'd been surprised by the reaction of western firms to the invasion of ukraine. it's amazing how enthusiastically they and, and rapidly they responded. it was a across industry sectors and surprised by who moved in what sequence the korea graphy has been surprising to have big oil and energy companies on the frontiers of social change is not the normal pattern. and to have the controversial big tech
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companies engage so quickly. they've been of course, in a spotlight, a good deal of, of controversial is currently scrutiny and recent years. and then to have the professional service firms that would usually rather jump off a cliff than engage in and public conflict to actually get involved in controversy this early. it was quite remarkable. and has the actual presence of this list made a difference because it's been really quite widely distributed. and the see as of these companies clearly know that this list existed. so as the list been growing because the list exists, it's interesting a catalytic effect or maybe even a snowball effect. as you mentioned, i didn't, we didn't anticipate it. i got involved just because we saw the initial doesn't or so of the industries that i mentioned. walked out and courageously took a moral position and a dramatic one to withdraw from russia. then there were a lot of pretenders because the companies that weren't there were the consumer
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goods, companies package, goods companies, food companies, apparel, fragrances, companies that usually are on a leading edge of social change, mr. moment and but then they started their public relations spin my sters of their various efforts to create smoke stream that was very troubling. so that was a problem. we thought we should maybe be an authoritative source, so we have no were objective. we have no involvement with any of these particular companies that we could describe who is really doing something and who is not. and in that process, we wound up creating a catalytic effect of saluting the people who are the 1st movers. although we didn't necessarily intend to giving confidence to the next group that wanted to, but was looking around for, for peer approval, peer affirmation. and then the shaming of the last group, those who, who were digging in their heels, refusing to make a change, that that had
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a huge impact. and we're just actually seeing some pictures of some of the firms that are digging in as you put it in your list. they're staying in russia. how are they justifying doing that? well, it is true, so very unconvincing ways. some of the oil service companies are talking about the importance of what they're providing on humanitarian grounds. notice that's fueling the, the war effort. some of the drug companies who have argued again, a humanitarian argument, which is just not true. we don't know what's happening in those labs. we don't know what kind of research is being done. the, the european and american companies that had oversight on those compet and those drug labs don't now. and we don't know how they could be re purpose for any kind of nefarious bio warfare or whatever. but is, it's the idea that they're supposedly doing these clinical trials that well, those clinical trials could be relocated. and in fact, all the one or 2 of them did relocate. sadly, astrazeneca did not,
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but their competitors did. but they would argue, i think, very convincingly also some of them, a coke industries of the us. that they are a paternalistic employer, which a never had a reputation for being such an employer of choice anywhere else that now when it comes to russia, they want to take care of their long service loyal employees. and we hear that from se johnson, a big consumer products firm that makes air fresheners and floor wax and things like that that they, they're concerned about the well being of their employees. if they are concerned about the well being of the employees, you'd recognize that the average russian citizen is in great danger. if we're on the brink of world war 3, this is a way of making sure we're not delivering bombs and bullets to these people. but trying to use a, the last recourse of peaceful government change jeffrey sun and fell from yale school of management there. now, for a look at some of the other business headlines, making the news,
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retirees of health protests in around 20 different cities in france, demanding higher pensions, and better access to health care, particularly in rural areas. the protests come around 3 weeks before frances presidential election. the 1st rounds taking place on april the 10th now also be in protest in power acquires time. ever rising fuel costs demonstrate is blocked, roads burned barricades, and through objects of police rising fuel and food costs have driven inflation to its highest level and a decade. no russian stocks have surged on their 1st day of trading since the end of february. the moscow exchange was closed during one of the biggest sellers in the market history. russia's main index rebounded by as much as 10 percent on thursday, but trading is far from back to normal. it wasn't business as usual at the moscow exchange on thursday,
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while shares can now be traded. this de la ban on short selling and foreigners are not allowed to exit local equities. that may have helped prevent a sell off that many had feared with the index rising nearly 4.4 percent on thursday. well, the stock market really is, is on the side show at this point. it's more of a sentiment of indicator because of 2 companies are not raising any money on stock market and that won't be able to. and so it reflects just a sentiment amongst investors, very likely we will find out that the main buyer has been one of the government banks are one of the government funds. the russian government says it will spend at least $10000000000.00 on shares in the coming months to help support prices. but would that be enough? russia is largely an investable full western multi nationals. and it will remain so as long as it continues its war in ukraine. most firms have already quit the
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country. our reminder of the top stories that we've been following for years this, our western leaders have pledged to impose further economic sanctions against the russian government over the invasion of ukraine. i've been back to back meetings of the nato at the g 7 in brussels. latest have almost also promised for the military aid to the ukraine's u. s. president joe biden also said that his country was expanding its sanctions to target members of the russian parliament defense contract. in russia's benchmark stock index has jumped as much as 10 percent, and it's 1st day of trading in almost a month. only a handful of shares were allowed to train. that's all from me and the business team here in berlin, if you would like more from us, you can head over to our website, it's d, w dot com slash business. you can buy will have programs on that. we're also on the
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d, w, and use youtube channel. we should head over there and check out our business the, on the sears, the latest one looks at whether or not sanctions work. very interesting. i have to make it and you can also run, it goes on facebook as they do. we don't business until next time with nina learns playing the piano, but now she's fleeing from wor juries world revolves around soccer. but now he's stuck in a bomb shelter. catarina is in love, but will she ever see her boyfriend again? war in ukraine cries for help from how focused on europe next on d. w. o is the end of the pandemic in site. we
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show what he can look like will return to the normal and we visit those who are finding it difficult. he sees his successes and in our weekly coping 19 special over 90 special in 60 minutes on d. w. o. with the memories of a woman, ali from syria is born in a female body, forced into marriage. great to escape will be the journey of his life. far from home, ali can finally become the person. he's always wanted to be alone,
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despair badly. oh, in that re credit and we'll go through with it. i was born in stuart's march 30th on d, w. ah, ah, welcome to focus on europe now in germany's capital berlin and around the world. people have been taking to the streets to demonstrate the outrage over russia's ongoing assault of the people of ukraine at the brandenburg gate, a sound of peace event appealed for an end to the bloodshed over $12000000.00.
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