tv Business - News Deutsche Welle August 18, 2022 1:15am-1:31am CEST
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your call rocker is scheduled to undergo its 1st and then test at the end of the month. well that's it. you're up to date and my colleague steven beardsley is up next with the latest headlines from around, from the world of business rather. and remember, you can always get all the latest news and updates on our website. that's d w dot com. i'm aaron chilton, berlin for me and the entire team. thanks for watching. sh her, i'm just kinda. i think that's hard. and in the end it's a me, you are not a lot to see you anymore. we will send you back. are you familiar with this? with the smudges were lions of the what's your story. ready
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i mean, wasn't, i was women, especially and victims of violence take part and send us your story. we are chain always to understand this new culture. so you are not a visitor, not the guests. you want to become a citizen in full migrants, your platform for reliable information. ah ah, europe notches growth in the 2nd quarter, but how long will last clouds are gathering on the economic horizon as energy prices skyrocket? and the war in ukraine continues, could recession be around the corner also on our show, the supersonic passenger jet a 10
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a come back. major airlines are already putting in orders for a plane that right now only exists on paper and uruguay has turned renewables into a freight advantage. but it's come at a steep price for households across the country. blown welcome to the show. i'm see from beardsley in berlin. is the european union entering towards recession. the question today as the block released new growth figures for april to june, output for the quarter increased by 6 tenths of a percent compared to the 1st 3 months of the year. and that's just under expectations, but with a bit of divergence between economies, spain, italy, in the netherlands seeing more growth, germany, meanwhile, stagnating, now germany is one of the economies most exposed to the fall out from the ukraine war with russia limiting gas flows that power the country's industry and warm its homes that's pushing up costs. i spoke about this earlier with maria de mer to us. she's deputy director of the brutal institute in brussels. i asked her if europe
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might soon see inflation as high as the u. k. where price growth right now is in the double digits. well for, for some companies in place, and it's much worse than bad for others. it's lower. so not making the, even the eurozone inflation numbers are not as bad as they are in the u. k. s. i c k, whether my sense is that the beginning of the winter will be the tougher spirit had both in terms of inflation rates, but also in terms of economic growth. so my sense is that the toughest times are yet to come result with these new g d p numbers, the europe is still eking out growth, at least in the 2nd quarter. but there are so many concerning signs ahead. is a recession imminent? well actually the numbers that came out a day about as a new information for the latest quarter are, are not as the as so pessimistic as a had originally thought for some countries, sir, i'm thinking here of the netherlands, but also there were the numbers for greece or after a very strong to his spirit, actually quite strong,
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much stronger than i would have there are dissipated for others growth numbers in the 2nd quarter, or between 0 and 11.5. and of course, the big issue here is germany with their ag did be gross and 2nd, puerto exactly 0. i always basic units that are, you know, the next numbers and next quarter will probably be negative. so that is really, there are the, there one country to watch. we also have a few quantity of 4 that have called already one quarter of negative growth. and so yeah, they're huge, a certainty ahead of us say, an is not obvious what will happen. yes, but i think as i said, germany is a, is the country to wants here because it is really the engine of growth for the european economy. interesting as the u. s. is already in the recession, technically in the recession. both quarter want any quarter to have been negative numbers or sol, u. s. c, u s. growth, and the u. s. canada is really, you know, safe in already. how dangerous could have me put a euro's on that is the 19 nations that use the euro. if there is a recession later this year. well, i wish had to recess in also with
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a pandemic. so where, you know, danger isn't really the right number of suppose we were hoping for a quick growth asked of them. but of course, now with the war in, in russia, this is not going to happen either european economies, a strong economy could. whether this, i think what's important was here is some really the weakest, the how they weakest will be hit. primarily because this is an energy sunni will affect households, mtv, the poor households in ways that are, you know, who we need to be, need to watch for this. the european economy hauling the will. recovery said as it is, we are talking about really the winter after that many things will be different pay marlena. decoupling of european energy consumption from russia or other and means of any providing branja william, they found so really their next 6 months on was was enough to that. i think i will be out of the woods. i maria de merits us with the brutal institute. thank you very much. let's go now to some of the other global business stories making headlines.
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german utility juniper, which secured a $15000000000.00 euro state bill out last month has reported a loss of more than $12000000000.00 euros for the 1st half of the year. that's due to lower russian gas flows, which forced it to buy it higher prices elsewhere, occurring costs that it was contractually unable to pass along to customers. apple is in talks to produce its smart watches and laptops in vietnam. the company suppliers have started testing production in the country as a seeks to diversify production away from china. vietnam, which already makes apple tablets and earphones is its most important production hub. outside of china. german airports have hired fewer foreign workers than planned. the german government had plant a fast track work permits for several 1000 foreign airport workers, mostly from turkey, to help to ease travel chaos over the summer. however, only $150.00 such workers have been hired. frankfurt airports, parent company says most of the workers available did not have the necessary
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qualifications. new york to london, and roughly half the time of a normal passenger plane. that's the promise behind this jet. the boom overture, a supersonic flyer that exists only on paper at the moment, but as already racking up orders. united airlines wants 15 of them. and just yesterday, rival american airlines announced that it was putting in a non refundable deposit for up to 20. and the company behind the plane boom, supersonic promises that it will take as little as 3 and a half hours to fly from new york to london. and it says, a 3 day transit lennox business trip would turn into a day long round trip. and also valves, the flights would be carbon neutral, relying on a sustainable aviation fuel tickets won't be cheap likely between $4.00 and $5000.00 according to the company for the aviation industry. it's a gamble. the predecessors of the overture, the supersonic concord stopped flying some 20 years ago due in part to low demand.
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i for more and then more on this let's go to jens quarter. are corresponded in new york at. yes, we're talking about a plan that exist only on paper right now we're talking about a fuel that really isn't even in commercial production at any large scale right now . how realistic are these plans? yeah, and you mentioned that a cause had been an issue. i wish the concord to but also noise by the way, and now boom claims that they might have found the technical as solution so that it won't do that. you won't hear those banks or when of our plans, actually a break in the as sound a barrier assault well, and i have heard some reports that maybe even in the later part of this year or next year, we might see the 1st the test flights and it actually could be possible for passengers to book those flight the starting the year a 20 a 29 as there is some talk a was a rolls royce,
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a rolls royce might deliver as the engines even if that deal isn't a finalized yet. so there are still a couple of obstacles, but at least according according to a boom, there seems to be some progress and obviously as some airlines believe so, otherwise we wouldn't see those orders as some airlines, but not all airlines. there seems to be some questions about the demand for supersonic flying. well, sure, i mean on one side it is appealing. if you think about that, the plane is supposed to take only or less than 7 hours going from a to kidney. it's all there. you're really talking long travel, usually the flight takes you about 15 hours. that probably won't be the mass to transport and pay for the future. also, if you look at the costs and then, and if you look at supersonic travel, one of the issues is the fast food you go, the more if you will, you will take that also the tech feel. the sustainable fuel is much more expensive
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than the fuel that you have today. so there are quite some question marks. the airlines are interested you mentioned some m altar, virgin atlantic, the us air force seem to be interested as well as some alan from japan. nora in court in new york. thank you. we go over to latin america uruguay as one of south america's pioneers and renewable energy like nearby paraguay. it produces almost all of its electricity from climate friendly sorts of sources, such as wind, and then makes good money by exporting much but to neighboring brazil. but your guys build out has come at a price. kado pharma, jemina bolos property is surrounded by a wind park. and while the turbines don't belong to her, they bring many advantages to the farm. the company would have built the wind farm, also repaired al paths enrolled and installed fences and gators you. that's why we
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said yes to the wind turbines. after our initial concerns, that wind turbines financed by foreign investors rotate on gauge a man has farm, paying her a $160000.00 a year in rental income. so looking at aysa, we use the rental income from the wind turbines to buy cattle on a seed, and she so i lab land that or is that moves as forward? you, when are you going to nag? alina? dozens of wind parks like this one have allowed uruguay to meet nearly all of its energy needs from renewable sources. this small south american country is now a climate champion. and the center of this development is here. you take the technological university has specialized in renewables. it trains engineers for wind and solar energy tech as part of the country's energy strategy. eto phone. camille is something wouldn't change, no energy resources,
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has ensured that we no longer import oil export massive amounts of renewable energy to brazil and argentina, for example. in that he hasn't been able to see look window, but at hinting. and that's also because the government makes solar energy palatable to businesses with huge tax incentives. this has menace advantages. whenever the wind blows, all the sun shines hydropower from west was isn't needed. it's only use when really necessary. so it's all, well in uruguay. no, not at all. ordinary consumers are paying the price of the expansion of the renewable energy production. poor families are spending up to 15 percent of a monthly income on electricity, according to experts. so you buy them, we caught it, the cost of renewable energy somewhat lower than fossil fuels before, but it's still very high. that's be calls your g y is a small country that has had to make significant investments with foreign partners
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for the wind farms and transmission network. go to the source on the left body. so lucas kick off. don't know, black jemina also pays high electricity prices, and yet she cannot imagine her new life without it as a cattle and wind pharma. that's it for now you can find out more about these and other stories online at d, w dot com slash business. to check out our youtube channel as well, or the d. w. news channel. i've seen beardsley watch with little odessa on the spanish coast, olga and hook honey to found a new home in the port city of cut in when the movers pout the ukrainians were here on a business trip. now village knife is enriched by the young families who want to
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stay with them on dw, into the conflict zone with tubes of ass. jen, how worry the russia 5 about the progress of the war? small bonds of investigative journalist managed to pierce the veil of secrecy. among them, i'm very cold. bertha found a guarantor of website which tracked russia who can do services is really difficult for psychological eval on plate zone. well, because only about 60 minutes on d. w, with
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