tv Business - News Deutsche Welle May 20, 2022 11:15pm-11:31pm CEST
11:15 pm
that's it, you're up to date, mal world news at the top of the hour, rob watts will have your business updating just i'm i'm good with people in trucks injured when trying to flee the city center. more and more refugees are being turned away. border families, please see the reason for these correct only is with administrative people. lean extreme ross getting 200 people in around the world. more than 300000000 people are seeking refuge. yes. why?
11:16 pm
because no one should have to flee. make up your own mind. d, w. made for mines. ah, ah, ah, more st real is after a brutal week for us stalks repair market looms with inflation fears rising or hear from our correspondent at the new york stock exchange. joe biden is in south career at the start of his asia tor. the president hopes shoring up. tech ties in the region can help the u. s. compete with china and also coming up here. how and organic pharma is taking on one of germany's car giants in court
11:17 pm
stated business on robots in berlin. welcome to the program. now as inflation hits american wallets, whispers of a bad market to getting louder on bull street friday, failed to make up for days of steep declines on us markets. the highest inflation in decades means investors are bracing themselves for interest rates. height from the federal reserve, a bad market is looking all but confirmed to the s and p $500.00 nearing 20 percent below it's record highs at the start of the year. less cost to our correspondence at the new york stock exchange. teddy austrian discuss this bit further. teddy, just tell us why this week in particular has been said or a tough one. novel st. well, we actually saw shrivel of good news today as the s and p narrowly avoided a bare market that the decline of 20 percent from a recent hive in january. but yes, it has been a grueling week. we've seen the 7 straight week of losses for the s and p of it's
11:18 pm
the longest losing street since 2001 the dot com bubble. the dow jones isn't doing any better. 8 consecutive week of losses. that's the most. that's the longest streak since 1923. so we really are in some remarkable waters right now. and all of the fear is point towards recession, high inflation and the supply chain. disruptions from the pandemic and the war in ukraine. well, the last time we had risk, a recession was in 2020 bucks the last time we had a bare market as well. very short live time because the federal reserve pumped money into the economy, sending text stocks rallying. and that's what we've seen the past 2 years, but now the fed is doing the opposite. and we see that it's going to try to continue to contract the economy value. the fact is going to invest if someone spooks, but we saying the sell off across the borders effecting some sectors more than
11:19 pm
others. well, we haven't seen very many winners right now. the big news today is who the losers are actually. the saw several weeks we've seen tech stocks falling, but this week we've seen retail, wal mart and target posted their earnings did pretty much worse than expected. and so when big retail does poorly small retail is expected to follow. so again, all fears of this recession, we also saw tesla dragging the s and p down as well for a number of reasons. first and foremost is probably due to china, 0 coven policy, which is disrupting the manufacturing of the electric vehicles in the country. then we also saw the s and p s g index dropped hassle. that's been environmental social and governance standards for investors drop tesla from the index. finally you on mosque? well, we've seen some uncertainty around is take over a bit of twitter. all of this is dragging down the s and p,
11:20 pm
so really it's retail and tesla this week. ok, teddy australia, more street for us. thanks for keeping an eye on things. a thing in the united states and president joe biden is actually touring asia with the aim of shoring off economic ties in the region is 4 day trip has kicked off in south korea with technology ties high on the agenda. the us president is hoping to secure american supply chains and challenge china's growing dominance. after stepping out into the south korean sun, biden's 1st stop and his visit was purely intended to demonstrate the depth of technological cooperation between the 2 allies. as soon as the greetings were out of the way, at the u. s. air base near sol, the president sped off to samsung's nearby semiconductor plant. his new south korean counterpart, yoon suck y'all, was waiting to greet him. the 2 leaders then set off on a tool of the plant,
11:21 pm
the largest of its kind in the world, according to biden. the vase facility will serve as a model for $17000000000.00 factory. samsung is planning and texas boosting the production of the types of advanced competed ships made of the plant is a key goal of the president. as he stressed at the end of his visit, global semiconductor shortage is cause a shortfall and consumer goods, especially automobiles and contributed to higher prices around the world. and now food, brutal an unprovoked board, your grade. as for the spotlight, the need to secure our critical supply chain. so our, our economy, our economic and our national security, are not dependent on countries that don't share our values. why he also made clear his belief in the, in the pacific's future importance, or show much so much of the future. the world is going to be written here in the
11:22 pm
endo pacific of the next several decades. we're standing at an inflection point in history or decisions we made today, or a far reaching impacts on the world. we leave your children to morrow, the biden, those decisions may well include how to react to a new provocation from north korea. us intelligence is warned that the north may carry out another missile or nucular test during the president's visit to asia. now, russia's war in ukraine has had obviously a devastating economic effect worldwide. but no sectors have been harder. hips than agriculture and food exports of wheat. another staples down as is the production of essential fertilizers without them farmers worry for this year's harvest in venezuela, it's making an existing crisis, much, much worse. last preparations. the season's 1st big rain has fallen and the fields
11:23 pm
are ready. it's time to plant corn and bring out fertilizer once the tractor is fixed. but besides the stubborn engine trouble. another problem has farmers worried they have run out of supplies. i came met as well here in venezuela. we currently need around 150002180000 tons of fertilizer. and what has arrived with the inventories we have is around $100000.00 tons. thou are rough in me pulling up the problem. most of the fertilizer comes from russia, ukraine, and belarus. or if it can't be replaced by product from other countries, the harvest will be weak. one hector of corn crops can produce 10 tons, but that figure can fall to as low as 3 or 4 tons if the conditions are not right. yeah, my, my thought was we're going to work with a shirt laser we half, but we know that it's not enough. in some parts, we're going to use under doses, which is serious because it affects not only the deal,
11:24 pm
but also the profitability of the farmers. for now, farmers keep sewing, hoping for ideal weather to make up for the lack of fertilizer and for the war to end and supply chains to recover. now some of the other global business stories making the news. russia is shutting off its gas deliveries to finland according to finished energy company chasm. the country has so far, refused to follow russia's demand to pay for his gas in rubles, and has drawn moscow's anger with his plans to join nato. ross's already cut off supplies to poland and bulgaria and reason weeds to produce a price is arising at their highest pace on record. according to the country statistics agency, there is over 33 percent in april compared to the year before germany's statistics office pointed to rocketing energy costs is $1.00 reason it means average consumers could see more rapidly rising prices in the near future. former german chancellor gerhard schroeder has stepped down as
11:25 pm
a board member of russian energy for ross net. he faced severe criticism in germany for his ongoing connections with russian firms and his refusal to condemn president vladimir putin. schroeder had held the lucrative position since 2017 saying in germany. and a farmer is taking on one of germany's biggest industrial giants in court friday. so the beginning of the civil case brought against folks fog and b organic farmer says emissions from the companies, cars destroying his business for 7 months, a year. if i have commerce kettle get to enjoy the green pastures of his organic farm, but the future is full of uncertainty for him. the bonds with farmers depend on an intake climate. we need this relative balance of nature which keeps the land fertile packet. and if we lose that venue, then we lose the most important thing we have to have. he says climate change has led to droughts in excess rainfall causing damage to his farm and neighboring
11:26 pm
forest. and he sees folks wagging as partly to blame for that. for various that's foggy w is the world's 2nd largest. so to ma, well maker and through all of its product is responsible for c, o, 2 emissions roughly on a par with australia or not. and that is why it is quite clear. major industries also have a responsibility and cannot shirking congressman, he things policy makers are not regulating the industry enough through the law suit out of comma ones to make the w take more to size of climate action and stop building cars with combustion engines from 2030 at the latest, he is determined and not alone. the farmer is one of several plaintiffs being supported by greenpeace, and a well known environmental lawyer. folks lagging, rejects, the claim. i told you w, it is the task of the democratically elected legislature to shape climate protection with its far reaching effects. disputes and civil courts through
11:27 pm
lawsuits against individual companies singled out for this purpose on the other hand and not the place or the means to do justice to this responsible task. globally, an increasing number of similar cases are being launched like in the netherlands, where comparable case was filed against shell and had success with a judge ordering the oil giant to drastically cut its carbon emissions. this motivates out of commer. he led the course of the last great hope for me is the legal way to him after ignoring my warnings of the intergovernmental panel on climate change, or you're ignoring the warnings of the young generations. it took to the streets and there hundreds of thousands, 3 years ago, and the warnings of tens of thousands of scientists advice. i don't know what else you can ignore, but you can't ignore court rulings. i guess i didn't come on board michigan, ohio with a law suit to 61 year old hopes to set
11:28 pm
a legal precedent in germany. and in turn do his bid for the climate the. so for me, in the business team here, berlin for more from us to remember, you can always head over to our website at c to b dot com slash business. we're also on the daily news use your channel handled. facebook hasn't t w, dr. business until next time until your weekend and take what? making the headlights and what's behind them. dw news africa. the show that faculty issues shaping the continent life is slowly getting back to normally where on the street to give you enough reports on the inside our corresponding with on the ground reporting from across the continent. all the trends doesn't matter to you. next on d w i, yes,
11:29 pm
i want to make a big change in the environment. being an echo warrior would have been from what are they demanding of ban on plastic toys in india. young activists are also thriving in pakistan. this little girl is designing eco friendly dolls. i call her facade because as i in earlier means environment, he goofy india. in 60 minutes on d. w. o. 0. one of mankind's oldest ambitions could be within reach or what does it really is possible to reverse aging researchers and scientists all over the world loreno race against time
11:30 pm
they are peers and rivals with one daring goal to outsmart nature. more life starts may 28th on d, w. this is dara benitez, africa on the program. today, one of the wealthiest terrorist groups on the continent. the us announces a fresh efforts to flash out asha bob from somalia. after years of insurgency, the group controls large parts of the country. we have a report on how it's funding. it's tara and africa's oldest president is seen in public for the 1st time in months. fielding speculation about his health for 40 years. poor b a has rule, camden wound with a heavy hat. could he now be losing peace.
37 Views
Uploaded by TV Archive on