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tv   Business  Deutsche Welle  May 22, 2019 3:02am-3:16am CEST

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venezuelans feel the bite of u.s. sanctions gasoline is scarce leading to long lines at the pump and growing tensions we'll give you the details. also on the show as the greek economy emerges from crisis is the country's real estate boom a blessing or a curse. and celebrity chef jamie oliver loses part of his business empire and hundreds of his employees stand to lose their jobs. welcome to business i'm stephen beard's in berlin thanks for joining us life in venezuela has been hard in recent years and occasionally crushing from the country's hyperinflation to its lack of basic goods and declining medical care at least gasoline was always dirt cheap and generally available but now that's under threat u.s. sanctions are making fuel more scarce take a look. money doesn't count for much these days in venezuela hyperinflation is
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rampant and u.s. sanctions are making things worse. gasoline has been heavily subsidized for years in the country and now costs practically nothing to contrast with other items is stark going to merely a candy bar the candy bar costs more than gasoline a full tank of gas that's all it costs to. boil is the venezuelan economy and normally accounts for almost all its exports but to be refined to make it into gasoline for the domestic market it needs chemicals from the u.s. these are no longer available because of the u.s. sanctions. this is led to shortages and long queues at the gas pumps in recent days there were reports of 24 hour queues for gasoline in america about the country's 2nd largest city but the impact of u.s. sanctions would only get worse many importers of venezuelan oil have been granted a grace period before they will be subject to the sanctions the grace period ends
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this month. the united states has temporarily eased the ban on selling technology to chinese tech giant weiwei washington is delaying the band by 90 days the u.s. claims the world's leading maker of mobile network equipment is a security risk and has called on european allies to exclude while weighs equipment from their next generation wireless 5 g. networks the company's founder has downplayed downplayed the restrictions saying walk away has supplied back ups if it loses access to u.s. components. and let's talk to our financial correspondent in new york jose luis de haro who is it markets responded positively to this delay but it doesn't quite reverse the u.s. decision against huawei does it. it isn't the stephenie does not change your march but it buys time especially for you as a company to make all the arrangements and time is also key for investors who are still considered decision leaves the door open for some kind of negotiation as i go
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from the positive reaction of tech companies and chip makers here on wall street markets are waiting for any kind of signal that will imply the possibility of the u.s. in china starting those talks easing of what ways that restrictions will last about 3 months and meanwhile china won't increase it starves on u.s. imports until june 1st and the u.s. one be able to impose new charges over chinese products until late june and by then you as a president donald trump and chinese president xi jinping will meet in japan for the 20 so this and so far is that both countries are praising each other more and more escalating tensions but not enough to completely close the door to resume negotiations currently on hold but at the same time both are walking a very thin line which could end up in some kind of resolution or in a full blown and tech war and briefly jose what's been the reaction from wall way to this alert. away play their fans saying they're accused of
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bullying and european lawmakers not to follow the lead of the white house also stated that the u.s. government underestimates its power especially when it comes to development of 5 g. networks as in the east horo their force in new york thank you. and now to a 7 year battle over the rights to a name between a company and 8 latin american countries online retail giant amazon has provisionally won the right to the dot amazon domain and that's a blow to the coalition of governments fighting for the title on the basis that it referred to bare geographic region the decision will be finalized following a 30 day public comments period. and back to europe greece is experiencing a tourism and investor boom property prices have risen by 2 percent since last year when the country's eurozone bailout program came to an end construction permits
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have risen by more than 10 percent while such growth is good for the economy local communities in athens are feeling the pinch here's the rebecca rivers. from an economy in tatters rises a city in the not long ago athens lay at the heart of the country's debt crisis now tourism is fueling a real estate revival but the knock on effects aren't always desirable to the locals but they were stranger and because a lot of people because the older virtually throw them out in order to explode department stores or be tourists who come here for just 3 or 4 years we don't consist of society or you know something to to mingle with with locals. to shop owner has lived and worked in the city his whole life he says the stories of addiction have become commonplace a fate he himself has so far escaped although his rent was nearly doubled at the start of the year so it's very difficult because i have also
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a family who have 2 kids so we need a reporter and. for people to stay there and it's far more difficult for other people to not all of the neighborhood and the whole of the some of the reporters here it's a lot of people in the. greece had a record breaking 33000000 visitors last year a desire by homeowners to capitalize on the influx has led to an uptick in short term rentals. in athens alone air b.n. b. listings have nearly doubled in the last 2 years making it increasingly difficult for people in neighborhoods such as this one to find affordable accommodation but it's not only tourism that's driving mousing shortage gold in the visa program residence permit with the purchase of a whole joy in 20 for teen agree started offering golden visas a $250000.00 euro investment buys you a property as well as a 5 year renewable visa an attractive prospect for many but i want to hand.
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it would say that the most popular candidate is out of. bed. and out apic and he's the biggest volume for. investors from today but they're not obliged to stay instead most rent out their properties from abroad adding to the high prices and housing shortage the owner of this building didn't want to speak on camera but said he'd recently sold to a chinese investor all his tenants were kicked out there along that matter and i was being affected sort all this out of bed because they all moves but fair to keep their properties and put them. in standoff. even then. and that while that may be good for investors in the economy it's local communities to paying the price. and let's take
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a look at some of the other business stories making news sure manufacturers and retailers in the u.s. have asked president donald trump to remove footwear from a list of proposed tariffs on goods imported from china they said the move would be catastrophic for consumers and the economy as a whole last year the u.s. imported over $11000000000.00 worth of chinese made for where. u.s. justice to park. is set to oppose a $1000000000.00 merger of germany's t. mobile usa with its rival sprint it cites competition concerns that's according to a report by bloomberg it comes after the chairman of the communications regulator put his support behind the deal. the german chemicals group buyer has confirmed that monsanto kept watch lists on journalists politicians and interest groups in at least 7 european countries buyer bought the controversial company last year and is facing thousands of legal claims that month's antos roundup weed killer
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is connected to cancer. over the u.k. where british celebrity chef jamie oliver has announced that his restaurant chain is insolvent requiring the closure of all but 3 of his 25 eateries and leaving more than 1000 people out of work oliver who is credited with changing a generation of british attitudes about food and school menus blame stiff competition and rising costs he was the man who made british cuisine sexy. jamie oliver's informal approach to good food that made him world famous hand phenomenally successful that enabled him to open his own restaurant chain in the u.k. in 2008 with dozens of outlets popping up across the country. today all but 3 of those have closed as a result of what was described by administrators k p m g as a very difficult current trading environment. the writing has been on the wall for
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some time the celebrity chef began toes and struggling restaurants back in 2017 and last year named briggs as the reason for closing 6 of them saying rising food and stuffing costs as well as a weakening pound we're posing challenges up to 1000 jobs are now at risk trade union representative say that while restaurants are not help by the current economic uncertainty businesses that expanded rapidly like all of us did are the ones most in danger of going on. now it's got a bit of rust the interior has seen better days and it smells like a musty old folks' wagon beetle but these expects the very 1st porsche sports car made will bring in at least 15000000 dollars at auction the type $64.00 was built by the original government owned volkswagen in 1939 and it belonged to the company founder ferdinand porsche it was built for race between berlin and rome never took place through the outbreak of world war 2 it goes on auction in california in august. and that's it for
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the me and for me and the business team here but i'm stephen beard as always thanks for watching.
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