tv Business - News Deutsche Welle June 4, 2022 5:15am-5:31am CEST
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on the score tide at 6 games each in the 2nd set. but germany's fed f was unable to play on after turning his ankle and a doubt was through to the final. he faces either meyer in chile or casper route on sunday. well that's all for now. coming up next is at christy plants and who will be presenting completely new business and should be asking why long musket wants to to add size to has a workforce. and don't forget you can stay up to date. round the clock on d w dot com, or you can find us on our social media grants for me and the team here berlin say very soon take care. ah, hello guys, this is the 77 percent. the platform with issues and share ideas. you know, on these channels,
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we are not afraid to talk to young people clearly have the solution. good future with the 77 percent every weekend on d w making raring to read. mm. if there is any erotic events between them, you'd have to find it between the lines. he w literature, 100 german street. ah, iran musk cuts his company's work force and phrases, new hiring. the tesla boss says he has a super bad feeling about the economy, even as indicator showed strong employment growth. many strict rules remain in
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place for women in saudi arabia. but social reforms have led to more freedom on the labor market like the kingdoms. first, women training to become car mechanics and road blocks hinder europe's auto industry. surging energy costs raw materials, dublin price and supplies hard come by, thanks to russia's war in ukraine. welcome to dw business, i'm christy plaid sen. tesla c o e law mosque is calling for a 10 percent reduction in staff at the electric car company mosque also called for a pause on all hiring world wide, saying he had a quote, super bad feeling about the economy. his comments come as president joe biden says, the u. s. labor market is strong touting higher than average a higher than expect a job growth in may. when asked what he thought about mosques comments biden wished him, quote, lots of luck on his trip to the moon for more, we go to young's court at the new york stock exchange. now yann's electric vehicle
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sales are still going strong, despite a lot of headwinds. what is it that mosque is worried about? exactly. well, i mean, what do you learn? oscar? pretty much saying that some areas that this company are all of us that's going with that he does not mean production of cars of batteries or installing solar panels. he is pinpointing to office workers, but clearly in the past couple of weeks mosque has hinted here and there that team might or that he's concerned that there could be a recession at some point. but overall, he was pretty short on a detailed that without saying that there are those overstuffed area. ok, so you're saying he's going to continue hiring and summer is and not, and others well, but he is implementing a freeze. at the same time we saw new labor figures out of the us today, showing that hiring is strong across all industries. how do we make sense of these
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sort of different pieces of news? yeah, almost all parts of the industry. we did see a little lower and of when it comes to retail. so they're actually a couple of lost jobs. got lost in the month of may, but overall yes, the labor market remain pretty hot and unemployment rate of 3.6 percent. so the lowest, the unemployment rate was 3.5 percent in 1969. so we're almost there. and to, for the month of may, about $60000.00 jobs got created more than initially expected to go. the labor market is still pretty solid, even if it was the 1st month and about a year that less than $400000.00 subs got created. but then so there are small signs that there might be a little a cooling on the labor market ahead. but so far and the labor market remains intact . ok,
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well that's 2 big pieces of market moving news today. how did investors react to this? christy. not very well. i mean, 1st of all, look at test this talk was down by a good 9 percent. then what i find interesting with those remarks from ill on math, the super bad feeling actually ran. i saw the headline, i thought he was talking about his employees that he has to let go about. actually he was talking about the state of the economy earlier. this week we heard jamie diamond, the head of a j. p. morgan talking about a hurricane coming up to the us economy. so obviously more and more company leaders, them a warning that actually things could turn around to the verse when it comes to, to the economic outlook. and then was the labor market report? yes, it was still strong. it was the last big job number that we got before the next step meeting in about 10 days. and that is pretty much on auto pilot. and so that despite some science that the economy might be calling,
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the federal reserve is still going to increase interest rates probably by 50 basis points. and overall, there was a little tell a few on wall street and for the week we are traded down by a good one percent young quarter bringing us super good feelings out of new york. thank you so much. europe's automotive industry has had a rough patch sticking with cars. budgeting is a nightmare. raw material. prices like sheets still have doubled in just a few months and energy prices only know one direction and getting your hands on. car parts has also become tricky due to the war in ukraine. in this foundry, liquid aluminum is heated to more than 600 degrees celsius. this is what the automotive supplier, l m g and the german state of saxony and halt uses to press castings for both electric cars and combustion engines. well, usually at the moment it looks like this. the machines are at
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a standstill. most of the 160 or so employees are working part time. the reason the massive rise in energy prices for 5 days, managing director, christine, suzanna turn axes, will run the melting furnace at full capacity. then the machines are shut down for 3 to 4 weeks. this is how electricity and gas are saved. bouncing back you said i had the foot of a 1000 or 99 percent of our electricity and gas is consumed in the foundry. we need 1000000 kilowatt hours per month. i let me know if it over to the plant manager ralph, you'll catch often walks these empty halls almost every day. colleagues who are part time call him with questions or the gluten. he will colleagues who got through the coven period quite well there. now, i don't want to exaggerate, but they are afraid of the future. you. we don't know how long these conditions will last. how long can we stay afloat? what happens next?
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both of us me is rising, prices aren't the only problem for automotive suppliers, like l m g, since the russian invasion of ukraine, many major companies have been running out of supplies that were previously coming from ukraine. as a result, when b m w volkswagen or diamond shut down their production, the demand for parts falls to the to k. no, cuz it's 50. so at this point, and it has of the ukraine crisis, it's really the case that overnight we lost sales or the volumes that we're delivering decreased, and that's by 40 to 50 per cent per customer, percent per condo. more and more spending on energy and raw materials and uncertainty about when customers will actually need an pay for the agreed upon quantities. but the situation could still worsen. for example, if russia stop supplying gas to germany and that has been submitted,
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the system is signed them and the quantity is reduced. we will try to use what we have as efficiently as possible here. but if we don't get any more gas at all, then production will be completely shut down. there's no plan b for l m g in the mid sized company. this would mean that the production site in eastern germany may have to shut down a big hit to jobs in an economically underdeveloped area. now to some of the other business stories making news today, used cars are getting more expensive and it's because of a rise in the price of new cars. and april and average 3 year old car was 30 percent more expensive compared to a year ago. coven, 19 a chip crisis, and parts shortages are all slowing supplies and driving up prices. germany's parliament has approved and increased to the minimum wage, raising it from 9 euros, and $0.82 to $12.00 euros. the move will raise wages for more than 6000000 workers in germany when it goes into effect on october. first. amazon is the latest
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u. s. tech company to scale back its presence in china. it has announced it is closing. it's kendall e bookstore in the world's 2nd largest economy. other companies like air b and b, linkedin and yahoo have also limited surfaces or exit of the country. they cite an increase in competition and harsh censorship. sex workers and activists march through the streets of mexico city on thursday to demand the right to work safely. the annual march aims to draw attention to issues of fem aside violence against workers and police and action. well, a few years ago, women in saudi way, a saudi arabia were still banned from driving. now the 1st female car mechanics of car mechanics are being trained, crown prince mohammed been solomon wants to modernize his country and that includes improving women's rights, which would help future proof the economy for a post oil world. this saudi arabian garage is cutting edge,
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especially when it comes to its mechanics. many of the trainee recruits on women like their male counterparts. they carry out oil changes, battery checks and wheel fittings. something of a shock for many customers, law, all the diagram us, the customers were really surprised. some of them came up to me and said, but you've shocked us. ah, i'm people are amazed that women are working in this field and ask us what it is about the job that appeals to us. that's the most common question. i had a fan of sympathy, alonzo saudi arabia's economy needs to diversify and reduce its dependency on oil. with this comes a need for more workers, and that's meant relaxing old laws. in the past, women were banned from working in manufacturing and construction. but that's now changing. and here at the garage,
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the women mechanics are even attracting new customer groups. one home, no one had been not yet, not women feel relaxed when they come here. and you on my hand and you been on the whole some of them feel shy when dealing with men before i know if i want to my job, they find it difficult to ask for things and they're scared to ask what's happening to their car when you have him on or be up, but with us it's different. they can talk to us with you. we amana, despite this spirit of optimism, many traditionally minded men in saudi arabia, continued to be skeptical about women working. and especially in technical roles. women are by far the exception here a fish and chips shop in england is getting an extra helping of attention. people flocked from across the u . k to check it out after being featured in a tick tock, a video where it's name been lead mega chippy was turned into a catchy tune. unbeknownst to them, hey,
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maga j fans have been taking photos outside the shop while they wait for it to open. sometimes for up to 3 hours staff say that customer numbers are 10 times higher than usual and that the attention is puzzling, but quote, absolutely brilliant. well, that is our show, i'm christy, platinum, berlin, for me and the whole business team. thank you so much for watching a joy ride through fascinating worlds. into uncharted deb with our guides and know their way around it with
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a strictly scientific trip to some pretty wacky places, a curiosity is required to borrow today. next on d. w. how to become a royal zuba fan, a cup of tea with the queen every day with a matching dress. and of course the see the new collection anita has one of the biggest in the world. your romance. in 60 minutes on d, w. o. it is a secret and a seemingly endless one action,
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the conflict between iran on the one hand and israel in the united states on the other with more than 40 years. the adversaries have been irreconcilable. there is never been any real dialogue. how did this confrontation begin? the greatest danger that it was spread? ah, milan war, he's real. you run usa starts june 15th horned d w. c turtles are remarkable creatures, but they're under threat. we had to kenya this week to meet people trying to help. also on tomorrow to day, why do humans have different skin colors and how do they come to exist.
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