tv Business - News Deutsche Welle August 23, 2022 8:15am-8:31am CEST
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biggest planet in the solar system, they show jupiter's famous, great red spots shown here in white, as well as faint rings around the planet. the images were originally photographed and infrared, and then colorized. afterwards they were taken by the james webb telescope, which was launched into space last year. so are you news for now? ah, coming up. we've got business for you. i'm terry martin for me in all of us here. thanks for want. ah ah ah ah ah ah, ended glistening place of morning the mediterranean sea. it's
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waters connect people over many cultures. seen it almost rock and to far dual korean drift along with exploring modern lifestyles and mediterranean. where has history left its traces. meeting people hearing their dreams, metty to me during this week on d. w. ah, european energy prices are surging as moscow plays the maintenance card on key energy infrastructure for the continent yet again. meanwhile, germany is chancellor, is in canada to secure alternatives. supplies also on the show could tar
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detained. a dozens of workers for protesting overlays pay just months before it's due to host the world. carp. this is the w business. i'm janelle delilah on welcome. european natural gas prices surged again on monday. benchmark gas rose as much as 21 per cent after rushes state owned energy giant gas . prom said it would shut down nord stream, one for 3 days from the end of the month. that's here. up single biggest piece of gas infrastructure fears. russia will keep the taps off past the scheduled maintenance period. have a once again highlighted the urgency behind diversifying energy sources on the continent, especially for gas hungry industry, have you germany. the need to seek alternative sources has brought german chancellor, olaf shots to canada for a 3 day visit,
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focused on energy cooperation. here's some of what he had to say be, i'm not really sure. of course, we also talked about the consequences of the russian actions for energy security in europe, but also in the world it. and that's why it's important that we do now what is necessary for the future food. first of all, we have to ensure that we can do business in a climate neutral manner that we develop our economy in such a way that by the middle of the century, our industry will be c o, 2 neutral you them met on the industry. earlier i spoke to energy analysts, thomas o'donnell, about how much green energy cooperation with canada can help europe out with its current crisis. carry the cannot supply any renewable energy that will make any difference in the current confrontation with russia. and they're spending some time going to a, a small city near the northern coast of canada. i believe in new brunswick to look
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at where canada says they will in the future produce hydrogen, green hydrogen. now this is sort of one of those things. it's very important to do when you meet a german chancellor and especially mister, held back the green, super minister of environment and energy. but really, what thereafter, i think in the media is minerals and we can talk about that. we are earths and so forth. and copper, but also l n g. but even then canada can't provide for some years l n g. i wanted to take that up. so today it was asked when will canada deliver alan ged germany and how much he said he was looking for the business case to do so. what does he mean by that? exactly. ah, that means he's not convinced he should do it. there's something i'll admit as the expert here, i wrote some articles on germany's real and g policy about 4 or 5 years ago in 2018 when the previous coalition decided in its initial treaty under
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merkel, that they would fund and support elegy import terminals in northern germany, which were purely for liquid for transportation, but it never happened. and during that time, one thing they did is they said they were gonna contribute to half a $1000000.00 in canada on the coast for building a facility that would export l. n g. nothing ever happened afterwards. it was, it died in here, there again, bringing it up in canada according to trudeau. seemingly isn't yet committed. so it doesn't sound like you think germany said count on canadian, ellen g, but we're seeing european energy prices spike again this week after this announcement of a 3 day shot down of nord stream, one at the end of the month. how do you rate germany's chances of successfully replacing, shrinking gas supplies quickly it's, it's simply not possible and don't take it on my authority. i listened to mister
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mueller, whose head of the network agency for the natural gas infrastructure in germany. he says, this'll be a crisis of 2 years. if potent cuts off the big pipelines, he said this publicly, he's absolutely right. if he cuts off the big pipelines, stuart a will be filled if you cut it off. now b, if any cut off later storage isn't enough, you can't replace those huge pipeline import. simply was doors after 23 months. there's a debate now, it would run out and this would be a quite a crisis. and there's no reason to believe this won't repeat for 2 years. it will take that long to find other supplies from other countries. thank you very much. energy analysts, thomas o'donnell there. thank you. now we spoke earlier there about the shift towards greener technologies, a transition affecting many sectors, including the auto industry. sadie austro joins us now. would some market news?
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teddy? so ford says it's cutting $3000.00 jobs and it's citing the transition to electric vehicles. as it's reason, what is the story there? well, john, out of these layoffs are actually in a couple different countries in india and canada. and here in the united states is most concentrated in the michigan era area. where many of these car manufacturers are based a 2000 salary positions. it's 1000 contractor position. so it's quite significant for the company. why is it? well, it's just as you said, it is the shifting of investments, the re prioritization of the electric vehicle manufacturing side of a company. they are trying to compete with tesla, with river and other e v manufacturers. but this is also part of a, a broader trend in the sector to try to cut down on labor costs. of course, we're seeing out billions being invested in the american south shifting facilities, shifting operations down there. because there are locks labor laws and they are
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able to hire non union labor and cut down on those costs. now you've mentioned it industry wide. you've also mentioned tesla. so few weeks ago, ted tesla also announced its own a job cuts that was not particularly well received by investors. what's the reaction been to ford's words this time around? well, investors aren't particularly happy with ford. we're seeing that the stock price is down about 5 percent, but this could be a confluence a factor as we saw on wall street today, a decline worse in 2 months. but also it appears that the decline in the stock price was more related to another announcement to the jury. verdict in a lawsuit against the company related to a car crash which killed people relating to potentially faulty parts in the vehicle . and now the company has to pay $1700000000.00, so that's certainly scooped investors and other fears across the market plot
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thickens. teddy auster there in new york for us. thank you very much. now to some of the other global business stories making use, the euro has dropped below parity with a us dollar 2020 year low. the decline comes and made rising inflation and fears of a potential energy crisis. as russia cuts supplies of natural gas to the u, that could also lead to a recession in the euros on british airways as canceling around 10000 flights this winter. most of the cuts affect short hall routes, but some long haul destinations will also be affect it. it comes after britton's largest airport heathrow imposed a limit of $100000.00 passengers per day. now there's less than 3 months to go until the football world cup kicks off in guitar. it's a tournament that has been dogged by international scrutiny, especially given katara, a record of poor treatment of its workers. labor activists say the gulf nation has
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not done enough to improve conditions for them. now reports have emerged of the government attaining a dozens of workers who are protesting over late pay. a football world cup requires world class facilities. back in 2010 katara was awarded the 2022 men's world cup and said it was ready to put on one of the biggest sporting shows on earth. that's meant a lot of labor to get these new playing facilities up and running. many of these workers are foreign born and have fewer rights than to tories. these workers in doha say they haven't been paid by the privately owned al bundari international group. some for weeks around 60, were arrested for protesting, and advocates say some have already been deported. critics are concerned firstly that we have a system to spot all the talk of reform and cutoff that still punishes workers when they complain about the situation that despite that workers aren't getting paid and
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it's very efficient at punishing them, kicking them out of the country. and yet, and when it comes to simply getting these workers tied is very, very slow. the guitar, a government says it's already investigating outstanding payments. some changes have been made in co tory labor laws over the last decade, including a higher minimum wage and an end to a system which said some employees needed their bosses permission to quit. but critics say it may be a ruse. have these reforms really just been a cover for what is the reality that's not meant to be changing? activists are calling on the government to do more, to protect the workers who have built so many of these stadiums. from the pitch up . it's been a year since the communist lied. government reversed a ban on private enterprise in cuba. the one strict regime has even started allowing for modest for an investment in small businesses. but entrepreneurs are
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hoping even more reforms around the way thanks to a $40000.00 loan from abroad. ricardo fernandez has been able to implement critical upgrades to his advantage base dried fruit business. he was able to replace outdated equipment with state of the art, the hydrating ovens and a packaging machine. and also from again, it's a family business. my brother, my father and i have seen the possibilities of foreign investments. we were able to increase what we're already doing again, with a lot of effort and difficulty during a year and a half of work. we imported our 1st equipment and export it. our 1st batch of products thought i was while oscar fernandez has seen gains. economists say more needs to be done and fast. la, hey, lucky, the rules have to change. you cannot give the private sector the same treatment there was given to the state own company in the past. the new rules with the
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private sector a different but they have to be more flexible and they must allow direct foreign trade and any investment amount in any area in what get audio. the dehydrated vanna company is just one of more than $4500.00 small and medium sized companies. now, legally operating in cuba. they're hoping more reforms will continue to fuel their entrepreneurial spirit. and that's her shell for more checkout d, w dot com slash business, and the d. w. news. youtube channel are also on facebook from me and the business team here in berlin. thanks for watching. and arts $21.00 summer special. ooh, experienced a festival full of life. you know, mystical location, ah, musicians and fresh young talents and to write down music festival. to
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20 d w. a pulse with the beginning of the story that moves us and takes us along for the ride. it's about to perspective culture information. this is d w. news and more. d, w. lead from mines. oh. and all dead and right wing extremists. this rites progressed in again, well, maybe a couple of great and burned in south africa, people with disabilities more likely to lose their jobs in the pandemic. black
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lives matter. shine a spotlight on racially motivated police violence, same sex marriage is being legalized in more and more countries, discrimination and inequality are part of everyday life. for many, we ask why? because life is diversity. to make up your own mind. mm. d. w. need for mines. ah ah, the locations absolutely beautiful and i also enjoy the audience. i think it's a great audience that comes, ah, yeah, scribbling offices here, you really do get a sense of the history and everything that's happened. oh.
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