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tv   Business - News  Deutsche Welle  March 25, 2022 4:15am-4:31am CET

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our main story today, b u has accused russia of war crimes in ukraine after a day of talks and brussels leaders gathered for meetings of nato, the g 7 and the youth. they promised new military and humanitarian aid to ukraine and announced more sanctions on russia. are watching the w stay tuned for our business update. after a short break avenue comes really from me and the entire team, thanks for your company with every day for us and for our planet with global ideas is on its way to bring you more conservation. how do we make cities greener? how can we protect animals and their habitats? what to do with all our waste?
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we can make a difference by choosing reforestation over deforestation recycling over disposable smarten solutions. overstate that in our ways, or is truly unique. and we know that, that uniqueness is what allows us to live and survive google ideas, the environmental series in global 3000 on d, w, and online. ah, the economic consequences propping up to 10 western leaders meeting in brussels bow for the sanctions against supporters of 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. i must get a stock market search as is trading reopened after almost
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a month. but rally is perhaps not all it seems as is due 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 even a so and g, 7 and brussels, they also promised further ministries to the ukrainians. u. s. president j 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 is a consequential, they're back barbaric behavior. and i indicated that i knew how much he,
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because we had long discussions in the past about his interest in making sure he had economic relations in 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 you were to move forward or president by to mentioned that the hundreds of western companies have now halted operations in russia following the evasion of ukraine. but there remain some big american and european names still operating in the country. however, fresh to pull out is only 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,
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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 great. just this wednesday, ukrainian president followed him years lensky spoke to the french national assembly via video link and appealed to their conscience from lucy. combining orange companies must leave the russian market, la renaud osha, the roy, melon and others. when it started with his forster, gladys, 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 value so 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,
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telecom and chinese computer manufacturer, 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 essential food and medicines. while i've been speaking to jeffrey solomon 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 had 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 um, 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
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social change is not the normal pattern. and to have the controversial big tech companies engage so quickly. they've been, of course, in a spotlight of a good deal of, of controversial is currently scrutiny and recent years. and then they 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 we've been really quite widely distributed and the see as of these companies clearly know that this list existed 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 to walk out and courageously took a moral position and a dramatic one to withdraw from russia. and then there were
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a lot of pretenders because the companies that weren't there were the consumer goods, companies package, goods companies, food companies, apparel, fragrances, companies that usually are on a leading edge of social change, missed the moment and but then they started their public relations spin masters 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 or we have no, we're 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 are. ready we didn't naturally 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,
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who were digging in their heels, refusing to make a change, that that had a huge impact and were just actually seeing some pictures of some of the firms that are taking in as you put it in your list, they're staying in russia. how are they justifying doing that? well, it is through some very unconvincing way. 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 and those compet of 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 it's, it's the idea that they're supposedly doing these clinical trials that well,
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those clinical trials could be relocated. and in fact, all that one or 2 of them did relocate, sadly, astrazeneca did not, but their competitors did. but they. ready would argue, i think very unconvincingly also some of them a coke industries of the u. s. that they are a paternalistic employer, which they 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 for 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're concerned about the well being of their 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 son and fell from your
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school management there. now for look at some of the other business headlines. making the news, retirees of l. 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 francis presidential election. the 1st rounds taking place on april the 10th. now also being protest in power acquires time over rising fuel costs. demonstrators blocked roads, burned barricades, and through objects police rising fuel and food costs have driven inflation to its highest level. in a decade, harrison stocks have surged on their 1st day of trading since the end of february. the moscow exchange was closed during one of the biggest fellows 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
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exchange on thursday, while shares can now be traded. the still a 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 on the side show at this point. it's more of a sentiment of indicator because oxy companies are not raising any money on stock marketing and won't be able to. 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 and investable for western multi nationals,
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and it will remain so as long as it continues its war in ukraine. most firms have already quit the 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 of almost also promised for the military aid to the ukraine's us president joe biden also said that his country was expanding its sanctions to target members of the russian parliament. and defense contract in russia's benchmark, stuck in vex, has jumped as much as 10 percent. and it's 1st day of trading and 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,
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you can head over to our website, its d to we dot com slash business. you file our programs on that were also on the d to be in use youtube channel. we should have over there and check out our business the on the stairs, the latest one looks at whether or not sanctions work. very interesting. i have to make it. and you can also find that goes on facebook as they do. we don't business until next time. is the end of the pandemic in sight. we show what it could look like will return to normal and we visit those who are finding it difficult to success in weekly copays 19,
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