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

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

chose to delay me is our markets correspondent in frankfurt chelsea crew prizes on the rise today will this attack have a bigger a long term impact or resist just a short term scare here. so foreign markets are looking this looking at this attack as a short term scale scare as you mentioned it didn't impact production so far so it hasn't really taken any oil production off the table but of course there has been a kneejerk reaction here we have seen in the past these conflicts between saudi arabia and many rebels really impact oil production about a year and a half ago in september 29000 we saw a record spike in oil prices after the yemeni forces attacked saudi arabia's oil fields and took about 5 percent production off the global market that's not the case so far here but investors are obviously looking at this a bit wearily of that we might see more more conflicts in the in the months ahead and jones news of course comes at a time when members you've. decided. yes and that's of course the longer term impact here. the oil market is right now really spiking we've seen brant crude the gl

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

meeting i just mention all 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 seei

time now for a quick check on financial markets chose to delay me as our correspondent in frankfurt chelsea let's take a look at tech stocks where the selloff seems to be continuing the nastase now down more than 10 percent since its february record and kerr currently officially in correction mode take stocks have sewer throughout the pen demick why are they falling now. well for the past year markets have really and lock down so all of these stocks that benefit from people being in quarantine staying home working from home amazon's apples the peloton were really really seeing very strong really strong growth in business and business and that helped to project to propel the overall market higher but now investors are starting to take more seriously this idea that we could be moving towards normality again so investors are dumping some of these so-called lock down stocks and investing more in real economy stocks at things like travel stocks bank stocks all of that is starting to see we're starting to see a bit of a rotation out of tack into it into other parts of the market. china auto sales

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

let's bring in a french or spawn it in frankfurt chelsea to lady good morning chelsea so what exactly does the eve believe that apple's doing wrong here. well the e.u. has been looking into whether apple is hurting its competitors whether it's hurting customers because of its dominance in this area so if you're a developer and you want to have your in the apple app store if you want to reach these 1000000000 people who have i phones then you have to agree to a lot of conditions that apple sets one of those is that you have to give out all 30 percent of the subscription revenue you earn from your op and other is that you're not allowed to advertise that there are cheaper options out there so if you want a spotify subscription you could potentially get it cheaper just by going to spotify his website so what the apple. is looking into is whether this is hurting customers whether these costs are getting passed on to customers and whether it's hurting other businesses as well josie any idea how big a threat this could be to apple. it could potentially be a big threat to apple of course the

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

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 cos

all right for more on this let's go to our financial correspondent in frankfurt 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 per

for more on this let's bring in our financial correspondent chelsea's lanie in frankfurt chelsea so what exactly does the e.u. believe apple is doing wrong here. well the e.u.'s been investigating whether apple is really abusing its power that it holds through its app store to the detriment of its competitors to the detriment of its customers so through the op store apple is able to take about 30 percent of their revenues of companies of developers that want to have an app in the app store that's the only way to get your app onto an apple device and there are you know a 1000000000 of those now so it's really crucial for a lot of developers to be in the apple app store but they say that the conditions that apple is setting is unfair the 30 percent revenue cut but also not allowing them to use outside payment services so we've seen some companies have to raise their prices to make up for the money they're losing to apple some have to sign it not to allow payments at all through the op store and that all is what the e.u. is looking at it whether that's hurting businesses whether that's hurt

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

more about what's 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 t

time now for a quick check on financial markets with chelsea believe me in frankfurt chelsea today is a particularly bad day for aviation stocks what's going on is a day of reckoning for the airline sector we've seen airline stocks actually doing pretty well this year there was a lot of hope and a lot were expressing optimism about the coming months about a rebound and the summer but things have changed significantly on the ground here in europe we are battling a 3rd wave of infections more and more countries are either introducing the new lockdowns travel restrictions or extending those that are already in place such as here in germany just about raises the prospect that european travelers won't be able to travel this summer but also that foreign travelers won't be able to come for their holidays either today a british minister warned it warned its citizens against booking travel to europe right now because of the virus situation so this does raise the prospect that this summer could be another last summer for the travel sector and many airlines are on life support right now in their

they meeting we 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 i

and let's go over to our financial correspondent chelsea delaney in frankfurt good morning josie we've seen already that the retail association of germany is calling for reopening to happen faster the been calling all week for this doesn't look like it's going to happen how dire is the situation for retail in germany. well the lockdowns have been catastrophic for retail it is a little bit difficult to put a number on this because until april of this year businesses don't have to file for bankruptcy and that obligation has been suspended but we've heard repeatedly from the retail industry association as well as other businesses and retailers that about half are on the verge of bankruptcy so there is the threat as these locked out of are extended that many will face bankruptcy in the coming months we saw yesterday that many stores particularly. and retail stores athol their their revenues were down 77 percent in january so many many are at the brink and the decisions made today likely won't bring them any relief and the coming months ahead it shows that we heard yesterday from u.s. presi

expecting record no ticket prices once airlines return to full service let's bring in chelsea delaney of the frankfurt stock exchange for war certainly european airlines they must be looking with envy to china and how will they deal with all how are they doing it. well china is managing this 1st and foremost by controlling the coronavirus china hasn't reported any new coronavirus local infection since early february and that's allowed them to really reopen these travel passages they have removed a lot of travel restrictions testing requirements so that's one reason why we are starting to see in particular domestic travel really pick i think and it's a similar situation in the u.s. where they haven't quite controlled the coronavirus but they are much farther ahead than europe in terms of vaccination so people who've been vaccinated are now starting to book holidays vacations particularly within the u.s. but these are travel recoveries that are mostly for now being driven by domestic travel things like long haul flights business travel aren't really we're covering in the same way so is there anything eu

our financial correspondent chelsea delaney has more from frankfurt. it's been one setback after another for the e this vaccination campaign and the latest news from astra zeneca indicates that isn't going to be changing anytime soon the u.k. company is now expecting to fall well short of its pledge deliveries to the e.u. in both the 1st and the 2nd quarter so stretching into the summer as well we've seen multiple european countries actually temporarily suspend the use of the astra zeneca shot over melting concerns about the safety of the vaccine but the big hope for europe had been at the johnson and johnson vaccine which was approved this week but already european officials have tried to temper some of this optimism here in germany the health minister has warned the likely won't get any distribution we won't get any shots delivered and we just made to late april. now at a time when housing prices are going through the roof downsizing is starting to look more attractive for many in our next story we meet a former movie maker who says you don't have to

our financial correspondent chelsea delaney sent us this analysis from frankfurt. the main message from today's meeting is that they remain very committed to keeping borrowing costs low across the euro zone and they say they will significantly increase their purchases of bonds in the coming months and that should help keep borrowing costs for companies for governments for households quite low thereby boosting spending and economic growth for countries across the eurozone this comes after we saw a bond yields across the world including here in europe really start to spike over the past couple of weeks investors are now looking forward and anticipating higher inflation higher pricing pressures as the economy start to reopen around the world saying that's not what they want to see right now this tightening in financial condition especially now that countries here in europe are starting to see 3rd waves of corona virus infections as well as slow vaccine rollout saying that now it's really the time to double down on stimulus. now to some of the other global business sto

our financial correspondent chelsea delaney sent us this analysis from frankfurt. the main message from today's meeting is that they remain very committed to keeping borrowing costs low across the euro zone and they say they will significantly increase their purchases of bonds in the coming months and that should help keep borrowing costs for companies for governments for households quite low thereby boosting spending and economic growth for countries across the eurozone this comes after we saw a bond yields across the world including here in europe really start to spike over the past couple of weeks investors are now looking forward and anticipating higher inflation higher pricing pressures as the economy starts to reopen around the world saying that's not what they want to see right now this tightening in financial conditions especially now that countries here in europe are starting to see 3rd waves of corona virus infections as well as slow vaccine rollout saying that now is really the time to double down on stimulus. now to some of the other global business sto

our financial correspondent chelsea laney has more from frankfurt. it's been one setback after another for the eva sox nation campaign and the latest news from astra zeneca indicates that isn't going to be changing anytime soon the u.k. company is now expecting to fall well short of its pledge deliveries so the e.u. and both the 1st and the 2nd quarter so stretching into the summer as well we've seen multiple european countries actually temporarily suspend the use of the astra zeneca shot over mounting concerns about the safety of the vaccine the big hope for europe ben johnson and johnson vaccine which was approved this week but already european officials have tried to temper some of this optimism here in germany the health minister has warned the likely won't get any distribution we won't get any shots delivered and we just made to late april. now at a time when housing prices are going through the roof downsizing is starting to look more attractive for many in our next story we meet a former movie maker who says you don't have to live large to liv

our financial correspondent chelsea delaney has more from frankfurt. it's been one setback after another for the e.u. stocks a nation campaign and the latest news from astra zeneca indicates that isn't going to be changing anytime soon the u.k. company is now expecting to fall well short of its pledge deliveries to the e.u. in both the 1st and the 2nd quarter so stretching into the summer as well we've seen multiple european countries actually temporarily suspend the use of the astra zeneca shot over mounting concerns about the safety of the vaccine the big hope for europe have been the johnson and johnson vaccine which was approved this week but already european officials have tried to temper some of this optimism here in germany the health minister has warned he likely won't get any distribution we won't get any shots delivered until at least mid to late april. the braggs a trade agreement between the u.k. and the e.u. has been in force since january and it's already having a massive impact on the exchange of goods german exports to the island have f

chelsea delaney with the lowdown on day trading. the beating heart of germany's financial industry the frankfurt stock exchange but it's a little more down people used to. trading has moved from stock exchange floors like bees to our phones and laptops deals are done while waiting for a friend or for a coffee and by people like you and me even my mom's doing it amateur investors have flocked to stock markets like never before since the crown of iris endemic and while it has devastated many people's lives and jobs other people have found themselves with extra time and money during lockdowns and this record breaking rally we've seen in global markets has made many people already very rich. that's and p. 500 in the u.s. was up 16 percent and 2020 but that's nothing compared to this day trader favor at tesla more than 700 percent i've been covering stocks as a journalist for years but i'm ready to get off the sidelines and try my hand at being a pandemic the trader. 123 platform when a lot of people think about trading stocks their mind conjures up a scene like this thank you. and while you still can trade stocks by calling up a broker

our financial correspondent chelsea delaney is following the story for us from frankfurt she sent usthis assessment the initial spike in oil prices did moderate during monday's trading session in part because saudi arabia said no production was impacted but this does add a geo political element to this market that's already under strain this year we've seen oil prices surge more than 30 percent and that's as economies around the world are starting to reopen and this requires we'll so demand is recovering but oil suppliers are continuing to keep production at a lower level so that's really the primary driver of the oil price right now this will be a big concern for economies around the world that we already have many developed countries very concerned about rising prices about rising inflation higher oil prices will only fuel to that fire. chelsea delaney there the german democratic republic hasn't been around for a while but new registration figures show that the iconic g.d. archibong cars are still going strong in germany tried these have become a cult favorite in recent years even

our financial correspondent chelsea delaney is following the story for us from frankfurt she sent ushis assessed. the initial spike in oil prices did moderate during monday's trading session in part because saudi arabia said no production was impacted but this does add a geo political element to this market that's already under strain this year we've seen oil prices surge more than 30 percent and that's as economies around the world are starting to reopen and this requires we'll so demand is recovering but oil suppliers are continuing to keep production at a lower level so that's really the primary driver of the oil price right now this will be a big concern for economies around the world that we already have many developed countries very concerned about rising prices about rising inflation higher oil prices will only fuel to that fire. chelsea delaney there the german democratic republic hasn't been around for a while but new registration figures show that the iconic the g.d.r. turbine cars are still going strong in germany try bees have become a cult favorite in recent years even t

chelsea delay me with the lowdown on day trading. the beating heart of germany's financial industry the frankfurt stock exchange but it's a little work down between stable trading has moved from stock exchange floors like these to our phones and laptops deals are done while waiting for a friend or for a coffee and by people like you and me even my mom's doing it amateur investors have flocked to stock markets like never before since the crown of iris endemic began well it has devastated many people's lives and jobs other people have found themselves with extra time and money during walk downs and this record breaking rally we've seen in global markets has made many people already very rich. the s. and p. 500 in the u.s. was up 16 percent and 2020 but that's nothing compared to this day trader favor at tesla more than 700 percent i've been covering stocks as a journalist for years but i'm ready to get off the sidelines and try my hand at being a pandemic do you trader. the one to 2 platform when a lot of people think about trading stocks their mind conjures up a scene like this thank you. and while you still can trade stocks by callin

in frankfurt the dax the big the dax biggest loser today is the details which is also getting hit online for in china for these statements as well all right so so there are some jitters there chelsea thank you because. this week the e.u. together with the u.s. with canada they imposed sanctions on chinese officials beijing didn't take kindly to that but do you feel that the west is now ready to actually take on china i think i think what we've seen since biden has come in since joe biden has come into power in the u.s. we're seeing basically a much more concerted effort by the west to address these issues whereas before was a very fractious kind of approach and i think that's really going to be i think what's going to start playing out of this could be interesting to see what germany does because germany has really been behind this this trade deal with with china it's very important for the german economy now it's going to be a huge question for the big european powers like germany and france of course whether they're going to be able to balance the need for economic growth coming from china with the political requirement with the blues a go aspect about human rights and other are