with foxconn, they have been pushing back on recent reuter's reports.y said they were not factual. the company didn't say which part was correct recently, reuters reported that the company had gotten a green light to reopen two plants even though they only had 10% of the work force in place as of monday also another report which suggested that foxconn had planned to resume half of its production by the end of the month. we don't know which parts are connect. separately, the founder was speak from the heart whether he said that he believed that production should resume and the industry needed to rally he is a native of the province and went to university in wuhan. for him, this is person. there have been plenty of estimates that the industry could see a lot of trouble in the first quarter. analysts believe smartphone shipments could fall by as much as 40% because of the supply chain disruption and lack of confidence when it comes to consumers wanting to buy things. >> a lot of things to with this story. >>> chinese e commerce giant alibaba remains expose

foxconn has said its facilities in china remained closed for public holidays and would remain so untilve resumed standard operating hours. china is the world's largest producer of active pharmaceutical ingredients, and has 15% of the world's facilities that manufacture active pharmaceutical ingredients for 370 essential drugs. china also produces a significant portion of the world's supply of protective gear, such as face masks and respirators. let's get more on this story with tracey dawson, managing director of daletech electronics, a company that makes circuit boards. joining us from our studio in the north of england, how can what is going on in china affect what your business is doing here in the uk? good morning and thank you for inviting me. we manufacture electronic assemblies for diverse applications. the majority of our components and materials that are used in manufacturing are imported from the far east and china, through uk distribution and direct sourcing. so if there is a delay in getting those over here because the factory is closed for an extended new year holiday, wha

taylor: with foxconn creating the majority of the worlds iphones, what is the impact we will see? >> one spot of good news is that this is a soft time of year. at least outside of china, the upgrade cycles for phones is in the fall, the holiday shopping season is the big time of year for tech companies. so there is a good chance they could make up the shortfall later in the year. but we got an email from the chairman of foxconn who said he was lowering estimates for the year 21-3% growth. to 1-3 percent growth. you see a lot of companies are being cautious in terms of what this means, but foxconn is a great bellwether. if there's a hit, no one knows quite how big it will be. >> we saw a statement from tesla that they were prepared to restart production. at the same time, we are hearing some of these companies are not going to participate in this big, mobile conference. what is the sense here? can they get back up quickly or will this drag out? >> i think it will drag out for the foreseeable future. i think all of these companies are looking at it quickly and carefully. the barcelo

the ripple effects across the business landscape are continuing as well factories operated by foxconnchina's largest employer and apple contractor, remain closed after chinese authorities reportedly rejected its proposal to resume operations, citing fears over that outbreak now, this as e-commerce giant alibaba said it's extending its holiday break through february 16th, or perhaps even later. ali airbnb will suspend its bookings in beijing through the rest of february citing the outbreak for coronavirus is a concern and kia motors says it's suspending production at south korean plants due to parts shortages linked to the outbreak so, what does this all mean? our own eunice yoon is monitoring the situation live in beijing. as we talk about the movements for supply chain, technology and industrial manufacturing seems to be the most impacted. is that right? >> yeah, that's right. but a lot of factories in various entries are being impacted a lot today was supposed to bethe da when all of china was supposed to go back to work for most, that didn't happen what the companies are grappling

but we got an email from the chairman of foxconn who said he was lowering estimates for the year.ou see a lot of companies are being cautious in terms of what this means, but foxconn is a great bellwether. if there's a hit, no one knows how quite -- quite how big it will be. >> we saw a statement from tesla that they were prepared to restart production. at the same time, we are hearing some of these companies are not going to participate in this big, mobile conference. what is the sense here? quickly ort back up will this drag out? >> i think it will drag out for the foreseeable future. i think all of these companies are looking at it quickly and carefully. conference is important for the year. these connections are paramount. mention at to practicality factor. you have workers coming back from their holidays and facing transportation blockades, quarantines, it is simply impossible to get back to work. taylor: that was brad stone. and this week, several big companies announced they were pulling out of the mobile world conference over concerns of the virus. then, organizers scrappe

the company foxconn is looking to 3% to 5% this year.d me they are going to cut the outlook by two percentage points. it has largely to do with the counter coronavirus measures foxconn is applying at its iphone base in the central chinese city. workers returning to the iphone city will have to go through a quarantine for up to 14 days and we can also expect it will implement similar measures throughout its chinese facilities when it brings workers back online on february 10. >> siemens has warned a market slump is set to continue after quarterly profit already missed estimates due to a steep decline in the automotive, machine building, and energy businesses. the results come on the same day as the annual shareholders meeting where the ceo is facing even more pressure from environmental activists over a contract to supply an australian coal miner. >> for siemens, numbers were weak across all divisions. the energy business is still suffering. both the renewable parts, the wind power business, which saw a loss last week and today, the healt

we received any mail from foxconn and they have told some workers to not come in.hey are clearly worried of the nightmare scenario of an outbreak in one of these manufacturing's facilities. creating majority of the world's iphone. what is the impact we will see flowed over to the big u.s. tech companies? good newsone spot of is that this is sort of a soft period of the year. the holiday shopping season of course is the big time of year for the tech companies. so there is a good chance that even if they do get slowly ramped up, they can make up the shortfall later in the year. we got an email from the chairman of foxconn saying that he was lowering estimates for the year. you see a lot of companies being cautious in terms of really projecting what this means. foxconn is a great bellwether. there is going to be a hit but no one knows quite happy will be. we have seen some statements out of tesla that they plan to restart production as planned. at the same time, we are hearing that some of these companies are not going to participate in a conference that will take pla

foxconn is a great bellwether. there is going to be a hit nobody knows how big what will be. >> be on that, we saw statements out of tesla that they were prepared to restart production as planned. sony also making similar comments. at the same time, we are hearing some of these companies are not going to participate in a conference taking place in spain. a big mobile conference. what is the general sense? can they get back up to business as normal quickly? are they willing to do that? is this just going to drag out? >> i think will drag out for the foreseeable future. it is a wait and see and following the facts on the ground. some indications say might be peaking. some of these companies are looking at it carefully. ofis easy to pull out barcelona. it is an important conference for the year but the safety of your employees and preventing any unnecessary infections is paramount. every company is looking at this to see how it plays out. i just want to mention a practicality factor where we have workers coming back f

for apple, that might be foxconn. beyond that, who are the suppliers' suppliers?s where the risks are larger. you fromsher can stop rolling out a large washing machine. that's how we look at it. large amounts of data, applying artificial intelligence, and having the ability in manufacturing, distribution, and transportation to react. paul: we did see a scramble to reorganize supply chains as the trade war neared its peak. now we have the coronavirus. is diversification of supply chain something you would expect to become more common after these shocks? >> fundamentally we think all supply chains are getting reconfigured. one of the approaches is a classic barbell strategy to borrow a term from your world of financial services. how do you have 80% of your core product running through your standard once? 15% cost between 5% to advantage on the basis of how they operate. on the outside, 20% of your product coming from other locations. it is dependent on the product you are manufacturing. we find that typically our clients ask us, where else can we go? in the area of

get operation by the end of this week maybe even early next week at the center of this though is foxconn which is mostly known for producing apple i phones which according to reports brought back 10 percent of their workforce to at least one plant on monday so what are your concerns as far as seen a delay in getting manufacturing back on track and we're still talking about possibly a backlog of months to get things back in order. yes i think i would be quite conservative about the speed with which these plants are going to be fully operational even if a plant reopens it doesn't mean that 100 percent of the workforce in that plant can actually be on the job remember the whole thing with the corona virus really came to a head during the chinese new year's celebration when tens of millions of chinese had already moved out of their hometown to celebrate with friends and relatives around the country many of them remain stranded and so the notion that these plants even if they reopen can be fully operational in the short term is perhaps stretching credulity and i mean it is interesting to poin

foxconn has said its facilities in china remained closed for public holidays and would remain so untilhave resumed standard operating hours. china is the world's largest producer of active pharmaceutical ingredients, and has 15% of the world's facilities that manufacture active pharmaceutical ingredients for 370 essential drugs. those active pharmaceutical ingredients make drugs work. karishma vaswani is in singapore. it is interesting, wanted to pick up, you talked about putting billions of yuan into the economy, the reverse repo, as it has been described but there have been pretty brutal moments on the market, hasn't it? yes. in the first instance it is important to remind our audience that the reason why we have seen this collapse or this slump in chinese shares, at around 9%, bit of a recovery towards the end of the day, is because chinese investors we re day, is because chinese investors were playing catch up. this is the first time markets have opened since the coronavirus struck. it was expected they would fall this morning and chinese stock markets are also dominated by retail

foxconn is one of the major companies we do watch for for an impact on inphoiphone sales and apple. maybe they got permission to resume production but a lot of workers cannot make their way back to work and the factories >> you mention there that estimates have been coming down for china gdp growth estimates this year. to what extent are experts expecting that to come back later aided by spending and stimulus from beijing? >> if you look at the markets, it is surprising how we have the coronavirus concerns on one side but the markets are staying afloat we often say it is the hopes of a china stimulus and perhaps the pbocs and the authorities that say we have ample policy room to inject liquidity perhaps they've got that room but how much can they go the inflation numbers we got to, does that throw cold water over this prospect because their room is quite limited at this point they got inflation concerns. maybe they don't have that much room for policymakers. sure, a lot of houses do say that q1 will be painful but the rest of the year, things will get made up. how much of a makeup i

the iphone could face big production troubles ahead even as manufacturer foxconn got the green light to reopen two of its chinese factories today. josh lipton is in san francisco to lay out what's next for the tech giant. >> so china is a key link in apple's supply chain and investors are focused on foxconn specifically and for good reason it is the largest manufacturer of apple devices its factory is reportedly back open for business. only 10% of workers are apparently back. still that is important because this plant is described as the most critical iphone production site it's located about 300 miles from the epicenter of the outbreak in wuhan, and reuters now says that another foxconn plant in shenzhen is coming back online, too. set to resume partial production but will apple be able to make enough phones given the challenges to meet demand. some analysts think the company abo will ship 10% fewer phones in q1 could this disrupt plans of that low-cost phone expected next month. >>> china is also a key consumer market for the company apple operates 42 stores there the company has e

of its services to the mainland china bosses blame the op break out a significant drop in demand foxconn says it won't be able to return to full production in china until the end of the month because of the coronavirus. production next week the taiwanese company makes smartphones for global brands including apple and says.

of its services to the mainland china bosses blamed the outbreak and a significant drop in demand foxconn says it won't be able to return to full production in.

have started their factories that and others like apple supplier foxconn plans to in the next couple of weeks so while it's not back to normal it could definitely. it does seem like we're at least not at a standstill any more. so it's maybe a frankford thank you very much. now european the plane maker used the singapore asho to unveil a prototype of what it believes could be the passenger jet of the future. is a model of what's known as a blended wing body and crofts revolutionary design is to be 20 percent more fuel efficient than the passenger jets you and i use today claims that would give travelers a. new experience of the challenges was working out how to prevent passengers at either side being thrown about too much in the app often. it's. a foldable smartphone for the 2nd time the flip looks like a large make up compact but when open it looks like any other smartphone the difference is almost $1400.00 samsung launched its 1st full handset the galaxy fold in september forties screens forced an initial recall. from me and the business. business all website. business before we go

plus — the latest on the coronavirus. iphone manufacturer foxconn is now to start making surgical masks bid to try and reopen its production lines making electronics. and from bath toy to big business, the unbelieveable story of how the humble rubber duck took over the world. and we'll be getting the inside track on the world of sonic branding and jingles. how do you identify a brand with a sound? it's often a few seconds of sound that has become big business. a bbc report has revealed dieters in the uk are being targeted by firms that ask you to place a bet on how much weight you might lose, and if you do, you win money. what do you think? let us know — just use the hashtag bbcworklife. hello and welcome to worklife. good to have you with us. we start with uber, because the bumpy ride continues for the taxi and food delivery giant. its latest figures show another huge jump in revenues. it has promised to be profitable by the end of next year, but for now, it's still losing money. let's show you the details. uber made revenues of more than $4 billion in the last three months of 2019. th

some industries like aviation to resume operations get some large employers including ali baba and foxconn will remain closed other companies are asking employees to work from home the death toll from the virus was to more than 100 over the weekend. the new coronavirus isn't just hitting the chinese economy tourist hot spots around the world have become reliant on chinese visitors in recent years now european destinations are feeling that sense. more than 2000000 chinese tourists visit france every year they're becoming a significant factor for the french economy the chinese group tours and travel packages have now been suspended following the coronavirus outbreak for the time being this is the last group the tour guide generally will be taking around the french city of nice. i think that 2 to. 10000 we don't have a job or 2 months that's a big of a good. reason for their fane hours in the hotel industry is also feeling the pinch as chinese groups cancel like in this hotel in the old town we just have a cancellation for a group that reserved for carnival they'd booked 10 rooms for 4 nights

coronavirus comes to an end the move means that awful supply chain could soon open up again its supplier foxconn says they will resume operations on 2 a something lines meanwhile chinese president xi jinping visited workers on a hospital in beijing he says his country will strive to meet its economic targets for the year despite the impact of the virus meanwhile the world health organization says new cases outside china could be a spark that lights a bigger fire. on staying with the coronavirus the price of oil fell to under $50.00 a barrel on monday as investors worry about the impact of weakening demand from china a technical group of the opec oil producing cartel called for i put cuts over the weekend but it remains unclear whether members will follow the committee's advice the price of crude has dipped more than 20 percent so far this year. and for more on this i spoke to our correspondent in new york and squat to i started by asking him about the chances of opec production. well it's open we have opec on one side and then we have the so-called opec plus group on the other that includes $23.

is warning of a global shortage of protective gear electronics make a foxconn says it will stop manufacturing face masks alongside apple products at its factory but in taipei getting your hands on one takes time and patience the authorities there are rationing the musts 2 per person per week anyway daoist and often end up going home empty handed. is something the government of viet nam wants to avoid. the parts are tiny the tasca fiddly but it's all of the day's work for the seamstresses at t n g one of vietnam's biggest textile produces they normally manufacture jackets trousers and shirts at this factory in the north all destined for export to europe or the usa since the start of the month they've been making face masks. in the back up with that to help prevent the spread of the epidemic we have mobilized everything including human resources and materials we are doing what ever we can help we are using on now no place which was for producing the shirts to make the mosques right now we're making over 2000000 face mosques. since the outbreak began the price of face mosques worldwide has shot

of its services to the mainland china bosses blame the outbreak and a significant drop in demand foxconn says it won't be able to return to full production in china until the end of the month because of the coronavirus it hopes of partly restart production next week the taiwanese company makes smartphones for global brands including apple and says the disruptions will hit profits. german sportswear added this is closing a considerable number of shops in china as the corona virus continues to spread it's still assessing how big an influence it will have on business experts fear the virus would have a major impact on the chinese and by extension global economy. and chinese are not welcome in india's auto expose because of coronavirus contagion fears chinese automakers say the stands are being staffed by indian employees china is an important player in the exhibition chinese companies around 20 percent of the space . let's bring in analyst steve sung to talk about this and these developments 1st of all with that statement from the european central banks christine the god speaking of a new l

operates 3 plants here all of which are currently closed at the behest of the government in beijing foxconn the chinese computer manufacturer is also affected here to what should start on monday . in shanghai there are very few companies where production is busy but this is one factory that's been working overtime they produce breathing masks and protective suits the rest of the city however isn't very lively no the fear is that the any activity will spread farther afield. the german village of boasts the country's highest density of cars and it produces most of the. the success of the electric vehicles and of car sharing contradict the. ability and the sharing economy work in cities. and i deliberate all village in the far north of germany. pocket near the danish border is bucolic but far from a sleepy place when it comes to new mobility concepts. we probably have the highest density of electric cars of anywhere in germany more than 20 electric cars for $250.00 residents that's quite special longbows in fact that's an e-card to people ratio that's $25.00 times higher than in the rest of ge

volkswagen and foxconn a big apple supplier are hoping to open reopen their supply chains very soon. alright chose to delay any tracking it all from frankfurt thank you. well the e.u. is calling it the most extensive trade agreement its ever reached with an emerging economy to deal with vietnam which is up for approval today in the european parliament would slash tariffs on goods and services and it would most likely further cement vietnam status as an upcoming economic player in the world but there are concerns. sports shoes could soon get cheaper for european buyers german sporting goods maker has been producing sneakers in hoti minh city for years footwear is a big export for vietnam with 15 percent of all germans walking on shoes made in vietnam most goods leave the country via high. port the e.u. imports products with around $38000000000.00 euros from vietnam and it's not just shoes there are a lot of elec tronics and agricultural products european cuisine might be a bit less spicy without vietnam as it accounts for nearly half of all pepper imports. the agreement would mean the

we know foxconn was ready to jump back into business and the government said wait, slow down there. it has slowly come back on line. how does apple try to manage those issues >> i think that's what apple has been good at the supply chain does the manufacturing from everything to the parts to the shipping. apple can shift assembly to places like india and brazil where foxconn has set up other assembly lines this is a situation where it is not going to hurt apple but other cell manufacturers and service providers and also the wearable apple is pretty good at moving the supply chain around. over the long haul, that's what apple is really good at. >> citi sent out a note that said each week, no sales in china is a reduction of about 1.3% how sustainable is that for apple? is it a blip on the radar. >> when you have north of $200 billion on the balance sheet, it is not going to impact them being able 20 being able to do what they do. if you look at the cruise business or airline business, when somebody doesn't fly or fill that hotel room, you never get that purchase back when someone del

operate 3 plants here all of which are currently closed at the behest of the government in beijing foxconn the chinese computer manufacturer for apple is also affected here to what should start on monday at the in shanghai there are very few companies where production is busy but this is one factory that's been working overtime they produce breathing masks and protective suits the rest of the city however isn't very lively know that the year is that the any tippity will spread farther afield. correspond to delay me from frankfurt chelsea how months damage is this virus of doing it can only. it's going to have a severe economic impact especially in this 1st quarter most economists had been expecting the chinese economy to grow about 6 percent in the 1st quarter they're now expecting something closer to 4 percent a lot of people right now and do expect that this the spread of this virus will peak in the next couple of weeks and then factories will really start to ramp up again and that could really moderate the impact there at the full year so hopefully by the end of the year the chinese eco

more optimistic at least some of them seeing the possibility that perhaps the virus has peaked even foxconn is up 3 percent right now how do business people in the region see it themselves how do the businesses see it are they optimistic or is it way too early for that while there are more fear and uncertainty among tens of billions of business in china they are expecting huge losses this season because the core of the virus outbreak happened during the chinese new year holidays which is the most important the largest sells season of the year that have impacts on many business for example like the retailers and best friends. they are now have to actually rely on governments rescue plan and before they have to close for good they lost almost half of their annual income or write an important point there about the importance of the lunar new year holiday so it's going on for us in taipei thank you very much. and let's say in asia it would be the most extensive trade agreement the e.u. has ever reach with an emerging country the deal with vietnam is up for approval today in the european parliam

foxconn, the largest manufacturing company in china which is responsible for making things like the iphoneknock—on effects of that for manufacturing in this country which requires those parts, whether it is for iphones, cars, whatever, it could be substantial. let us go to the ft. the interesting election in the republic of ireland. sinn fein doing very well. mary lou mcdonald, a picture of her smiling, celebrating, because... we have a lwa ys celebrating, because... we have always thought of it as a 2—party system there. it has been for donkeys years. a bit like the uk with conservatives and labour. sinn fein have come storming through. they were not supposed to have a seat on the irish television channel debate between the leaders but because they were doing so well, they were given a seat. when i last looked i checked before coming on ale, —— air. they are leading and looks like leo varadkar who i think has been a pretty good prime minister, i think, has been a pretty good prime minister, ithink, has probably, he has lost his place. i think there is something about a fifth count because

you see companies like apple saying there foxconn plant in china has been affected, that will affectof iphones as that factory was closed and workers are now returning. but big consumer brands like starbucks, which operate in china, it is a big market for them. they are seeing community demand dropped off, they have had to close stores. united airlines and delta are basically looking at the spread of the epidemic to countries like italy, saying they are going to offer waivers and flights to allow customers to change the dates of their travel to italy as a result of the spread of this epidemic. so thatis the spread of this epidemic. so that is the kind of thing that you are seeing, this economic cost mounting. and while it is still too soon in many ways to predict how long this will go on for, but is essentially what investors in wall street are trying to do. they tend to look forward and are trying to anticipate where this could go, and that is why you are seeing these falls day after day after day. michelle fleury with the latest from the us. that's jack on asian markets. mariko oi