right for more on this let's bring in our financial correspondent in frankfurt chelsea delaney chelsea do we have you. chelsea these business reopening that are happening today this is still a positive sign is it fair to say. it's certainly a positive sign for the hair salons that $80000.00 hair salons throughout the country for nail studios for garden centers that are allowed to reopen but i'd say the german economy many german businesses are still very frustrated with the government's approach here in part because there isn't a lot of clarity on what would allow for a full reopening of the economy many retail stores bars restaurants hotels are all still under some sort of some form of restriction and they don't really have much clarity on what what allow for them to reopen in the coming months so that's one thing that they're really going to be pushing for and these in these talks on wednesday because as we've seen a lot of businesses are really on the brink of insolvency now and yet we have these new cars there is how likely is it that these reopening that we're seeing today that they're short lived. the c

we're going to go to chelsea de laney our correspondent in frankfurt i believe she's standing by at the frankfurt airport chelsea do we have you. all right there is chelsea delaney right chelsea good morning 1st of all 6700000000 euro lost a record lost do we expect this result to surprise investors or had they already factored something. well investors were braced for a pretty just stressed year for air for loved ones and that's exactly what they got as you mentioned huge loss over 6000000000 euros thought they also reported that revenue fell more than 60 percent passengers were just a quarter of what they saw and $29000.00 so really a catastrophic year for a lift in their annual report they've really tried to stress the measures that they've taken to help shore up their finances they said that for example. they cut about 28000 employees last year and they also were able to bring down expenses quite a lot of course they only really survived because they were able to get a 9000000000 euro bailout from the german government last year so they are really stressing how much effort they've put into it to really bringing down the costs of their business because they d

just missed all right for more let's bring in our financial correspondent in chelsea in frankfurt rather chelsea delaney chelsea outside this time good to see you. chelsea where are we right now with these reopening what is that going to signal is that sending for the german economy. listening a signal that germany is starting to reopen but out of a very slow pace and here behind me is a salon here in frankfurt that's open for the 1st time in 2 and a half months there are about 80000 salons in germany and this is a big day for all of them but as you mentioned it's a very small part of really the german economy that's been able to reopen here so most stores most bars restaurants are still closed and we've really seen that patience among the retail industry in particular growing and the retail industry association estimates that about half of all retail stores are at their brink of insolvency so really there's a lot of frustration at same time a lot of uncertainty chelsey as new virus variants spread out across germany is there the possibility this whole thing could be short lived in terms of the reopening it's c

for more let's bring in chelsea delaney in frankfurt chelsea there you are good to see you chelsea give us a bit of context why is siemens energy ending up on the dax important. well for siemens energy this is certainly a reputational boost it's just 6 months old it's already joining this prestigious dax and x. that is the big vote of confidence from its shareholders but siemens energy is also you know representative of the broader inner energy industry right now they have a lot of business that's still focused on fossil fuels things like coal and oil and gas power generation those are businesses that are being phased out or are expected to shrink significantly in the years ahead 9 while they're investing a lot right now into renewable energy hydrogen wind turbines but these are markets that are very much and transition so the company is cutting costs they're cutting jobs but it's yet to be seen really when those investments will or if they will pay off in the future. they're in frankfurt for us thank you very much now today is world water day growing demand and a warming planet are sti

that's not the markets view on this with our correspondent chelsea delaney in frankfurt chelsea what do investors think here will this plan have the massive economic impact that political leaders in the united states are hoping for. investors do seem to think so this bill is projected to raise economic growth in the u.s. to about 6 percent this year that would be the highest since the 1980s so it is expected to really lead to an economic boom in the u.s. with these $1400.00 stimulus payments with billions of dollars going to things like the restaurant industry to trucking in and trees think rotavirus vaccine development but really the biggest impact from this from this bill is going to be for low income people in the u.s. this will bring about $3600.00 for each child for some low income families so that's really tens of thousands of thousands of dollars into the pocket of some of the u.s. and lowest income families and one poverty expert in the u.s. said this could be the largest one year we're doctrine in child poverty not just in our nation's history of the possibility and the nati

that's got more in this form our financial correspondent chelsea delaney in frankfurt chelsea successful covert vaccinations are key for countries and economies to go back to normal now they has been heavy criticism of the pace of the e.u. vaccine rollout is there any indication that will change soon. well there really isn't a lot of hope on the horizon for the e.u. vaccination effort the astra zeneca news is a major blow and astra zeneca is cutting not only their forecast for this 1st quarter but also they're expected to deliver about half of what they had pledged for the 2nd quarter as well so we will see a major shortfall of that crucial vaccine as well we've seen over the past 24 hours several countries stopping use of the astra zeneca vaccine including denmark romania and norway because of suspected death from blood clots after someone received the vaccine in denmark so that further complicates the vaccine and for the johnson and johnson shot this had been a big hope for the e.u. that that would allow them to really boost the supplies but johnson and johnson is saying that they aren

britain continue to escalate over access to astra zeneca vaccine for more let's bring in chelsea delaney and frankfurt chelsea the e.u. is doubling down on threats to block vaccine exports to the u.k. give us the back story. well at the heart of this is that the e.u. feels it's being shortchanged by astra zeneca you had placed really big orders with astra zeneca for its corona virus vaccine and astra zeneca has very much fallen behind on those deliveries to the tune of about 170000000 doses by the middle of this year and so this is been a big problem in terms of the vaccination campaign which has been going very slowly in the u.k. it's been a different story about how adults in the u.k. have been have gotten a 1st dose so far so the e.u. is saying it's not fair that doses astra zeneca doses that are being made here in europe at a facility specifically in the netherlands should be going to the u.k. when their vaccine campaign is going so much better than ours so this is why we've seen the e.u. proposed potentially banning exports to the u.k. chose to do neither and frankfurt 1st talking about leading tensions

time now for a quick check on the markets with our financial correspondent chelsea delaney in frankfurt chelsea competition she told a german newspaper blood yesterday that she wants to build a tech alliance with the united states tell us more about. well this is an effort that will obviously be aimed at china both the e.u. and the u.s. share a lot of the same concerns about chinese trade practices and electoral property theft as well as china's increasing dominance in some new technology areas so we've heard it said the biden ministration took over in january increasingly that both of these sides want to work together to form a bloc against china this could include things like working together on electric vehicles on artificial intelligence but really they want to block some of this chinese power just a 1000000000 friends who think you. have become a regular routine during depend meetings on zoom and other services which allows to see and chat with our colleagues without sharing an office with them but there are difficulties to the concept like finding a quiet corner in your home a business in

to come for the tons or for that i'm joined by our financial correspondent in frankfurt chelsea delaney hi chelsea vaccinations have begun the warmer months are ahead at least in europe surely 2021 is more promising than 2020 was full of tonga. well tons is definitely hopeful that they will see at least some sort of recovery and 2021 the question is really how much for coverage they can bet on right now over the past couple of months we've heard a lot of optimism from baton fed from other aviation industry officials that we will start to see people flying again and that in the months ahead but a lot of that was dependent on the speed of the vaccine rollout here in europe it is going quite slowly so hopes that we would see passenger numbers really recover to 607080 percent of their pre-crime virus levels in the summer now look a little bit overdone a little bit too optimistic so that will pose long term challenges that already they're only saying that they expect a recovery by a full recovery by 2024 that could be extended if these. virus mutations can and slow rollout continue to delay the chills

and for more we go to our financial correspondent in frankfurt chelsea delaney hi chelsea a big dip in exports what does that mean concretely for german businesses. well there's so much attention paid to the how bad it has been for you kate businesses but it's also been a major blow for a german business as well even with the decline last year germany is sold about 67000000000 euros to the u.k. so if for some industries including the german auto industry the u.k. remains one of if not the most important market also for things like the pharmaceutical industry of the mechanical engineering industry it remains a very crucial market so now all of these businesses in germany are also having to deal with this new bureaucratic customs paperwork all of these things that have made it really difficult to keep exports flowing into the u.k. officials are trying to try to downplay to some degree how how big of a problem this is they say it's just teething problems and that it will get better but for now it's a major issue for this is on both side of the channel in shows you some of the new figures

from one of the crossover top financial markets correspondent chelsea delaney in frankfurt because chelsea it's unclear if this is actually a new statement why is it causing such a stir now well the timing of this is very interesting and as you mentioned a couple of days ago the u.s. the e.u. and the u.k. all to impose sanctions on china for its treatment of the minority of muslim population the rekers young so this does appear to be another former for a tally issued by the chinese government over the past couple of days the chinese youth league has been digging up these old statements from companies including nike but also h. and m. posting them online and we've seen this really morph into a big internet storm where social media and poor answers celebrities are all posting these statements and saying they're going to cut ties with these companies but we also did see big chinese e-commerce platforms like alibaba and j v dot com also were moving some products from particularly h. and m. from their websites as well can we expect some backpedaling from those companies given to china is not ju

for more i'm joined by chelsea delaney in frankfurt chelsea was going to foot the bill for this entire traffic jam and the fallout. well 1st step is going to be the japanese owner of the africa and they're going to be responsible for the cost of getting the ship unstuck as well as any damage to the canal they do have insurance that should help to pay or pay for that then you have these 152200 ships that are just sitting there waiting to get through it's estimated that about $400000000.00 worth of cargo goes through the canal every hour so it really is an enormous amount of money so some of those ships some of those those carriers may sue the africa vns owner for the delay some of them may have insurance themselves that will help cover the delays and then you also have the ripple effects higher oil place prices higher shipping prices in general so there will be a very expensive domino effect from this and of course people are waiting for goods to arrive when will your a feel the pinch. it will depend on how long it takes them to get the ship the ship out of the canal there are a lot of

chelsea delaney hi there chelsea we're healing hearing from retailers that they want full reopening and they're not really open to the idea of these sort of appointment shopping ideas or sort of half measures is that likely that they'll get that. it seems unlikely that that german nationals today are going to pull it crete to a full reopening and this is going to certainly i or a lot of businesses that have been locked down for 234 months now today we heard from the had the industry association representing hotels and caterer saying that this is the opposite of that opening plan and it is very complicated there are a lot of proposed rules many would allow for things 3 open in one case to go under 35 or 100000 residents but there are a lot of steps and that's really not what this is for hoping for you know chelsea germany like the rest of the e.u. is falling behind on vaccinations at least when it comes to major economies around the world the u.s. and the u.k. for example with 1st doses of around 15 and 30 percent of their populations respectively israel more than half its population china there you see it comes in 3 percent lower than germany but of course the situation there with tend to is much different very very few cases germany at 5 point one percent. you know the growing gap this growing gap between the e.u. and other nations what does that mean for businesses in these respective nations. well it means that the european business recovery is going to be much delayed a lot of businesses here and europe out then really counting on the fact that they would be able to reopen that this would start to pick up again and the summer especially for travel companies and travel to pendent economies like greece and spain they have how a lot of optimism about a recovery this year the fact that we are