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tv   Business  Deutsche Welle  July 20, 2019 3:02am-3:16am CEST

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base. the global grounding of the $737.00 max drags on boeing now says it will show up billions to compensate airlines so why is the plane maker stocks going up. also on the show the island charms of mykonos covered a hefty price tourists are facing sticker shock on the famed greek isles. and a new kind of electric motorcycle is throttling up get ready to pedal up to 80 kilometers an hour. this is your duty of your business report i'm stephen beard's in berlin thanks for joining us deadly crashes in indonesian ethiopia a long list of lawsuits and the aircraft at the center of the controversy still hasn't been fixed boeing hopes to get regulatory approval to return the $737.00 max
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to the skies in the 4th quarter but that timeline is only an estimate and with airlines losing money on the model the plane maker has now announced it will set aside billions to compensate them. it's the company's best selling plane and a model that's become synonymous with tragedy regulators grounded the 737 max in march after the deaths of 346 people in 2 crashes blamed on faulty software. the move led to the cancellation of thousands of flights. for which no one is now counting the cost the company has set aside $4900000000.00 to compensate airlines and their customers boeing has also reduce production that will cost the company around another 1.7 $1000000000.00 it has warned investors to expect profits to plunge as a result. the announcement comes just days after the u.s. house of representatives held a hearing on aviation safety. among those who testified was paul. who
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lost his wife and 3 children and the ethiopian airlines crash in march or in should not be allowed to act like a mere investment company extracting world to supercharge shareholder returns at the expense of safety and quality their leadership should change in favor of engineering safety forecasts. earlier this month the plane maker announced it would be creating a $100000000.00 fund to support the families and communities of the crash victims the figure is around the same as the list price of a single 737 max boeing says it expects the model to be back in the air by the end of the year but the shadows of the ill fated model will be cast far longer than that dozens of lawsuits are still pending and boeing's reputation for safety may have been tarnished for ever and let's talk now to our financial correspondent in
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new york yes quarter yes boeing setting aside a pretty big chunk of change there so why the company's shares go up today. and shares to get did go up quite a bit actually they went up by about 4 and a half percent and was that boeing was by far the biggest winner in the dow jones industrial average here shortly before the weekend wall street sometimes had its own reasoning what wall street likes to see is certain price take to get the numbers they can play around with and calculate how the financial software will be affected but as you mentioned earlier those of roughly $5000000000.00 that only covers the clients or the airlines we are not talking about what's going to happen with potential lawsuits other costs related to the grounding and we also still don't know when the f.a.a. will eventually allow boeing so that those machines can lift off again sold the 4th
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quarter is an estimate but it could also drag into 2020 we will get more financial insights next week wednesday when boeing is out with their quarterly results and certainly we had was a bit of a surprise that boeing so much on that news now u.s. markets are on track for another month of gains and that's based largely on the expectations that the fed will cut interest rates at the end of this month so what makes investors so certain that this will happen briefly if you can. well basically we had a lot of members of the federal reserve making statesmen that leave no doubt that by the end of the month at the next meeting on july 31st there will be a rate cut richard florida for example the vice of the federal reserve 1st said that might be wise to a rather sooner than later so that you act before the downturn actually really happens we had other members were saying pretty much the same the only question at
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this point seems to be if it will be a cut by $25.00 or by 50 basis points but the outlook for cheaper money in the u.s. that really got the market going in the past couple of weeks even if in this week the market would last about a half percentage and it well you know but we are still just a half percentage shy of new records on wall street so a lot of time before that meeting of course with the latest in new york. finally saved up for that greek island vacation you might want to save a little more at least if you're going to make a nose the popular island is seeing a surge in prices to match a surge in tarus now the government says it's getting involved. making notes is known for its turquoise blue waters glittering beaches and blitz white buildings but lately tersely prices here are out of control. the price gouging stems from the government leasing of beaches to businesses who then set their own prices in fact
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80 percent of the beaches on me canopus are privately run. at one beach the cheapest bottle of wine will cost you 170 year olds and a bottle of water will set you back 10 euro zone. i think that would be too bad. that. we paid a white guy leave. it be photos of job dropping restaurant bills have spread across social media one man posted a check for $591.00 euro's for 6 pieces of column ari authorities on the island have closed several restaurants as a reaction to similar posts we call we go all the mayor goals they can see. police sometimes to let tourists know where to go and not go if somebody is not good with tourists the greek travel and tourism sector grew almost 7 percent last year authorities are hoping to keep that industry growing by keeping tourists and businesses happy. and i hear there are other greek islands over to germany fire has
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welcomed a call from a u.s. judge to cut a damages award to a california couple a jury found its glyphosate based weed killer caused their cancer but the judge says $2000000000.00 was too much and once the case retried earlier this week another judge lowered the damages in a similar judgment against buyer the german chemicals company faces huge legal bills over the heaviside roundup which is produced by its subsidy subsidiary excuse me monsanto. well saturday marks the 50th anniversary of the 1st moon landing but setting foot there wasn't enough space for space agencies and now private enterprises with earth's growing appetite for raw materials the race is on to find minerals on the moon and beyond. just days ago the japanese space probe high abuse a 2 landed on the asteroid reuse over 300000000 kilometers from. its there to
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take samples from beneath the surface and bring them back. together with france and germany the japanese space agency and aims to find out what the asteroid is made off and if there might be any valuable role materials hidden within. i'm sick i have small project is a world 1st with multi sampling to landings and a collection of under surface samples will move through its or something like with . the u.s. space agency nasa is also examining an asteroid with it so desirous rex probe it's taking samples of the rock to find out what it's made of and hopefully gain some insight into how the earth was formed nasa has also been looking for rare resources on the moon for years the rocket crater could conceal valuable treasures metals such as gold platinum iridium and helium 3 gas have all been detected there now
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it's trying to figure out how to break down these raw materials and transport them to us. it's not a bike it's not a motorcycle it's an a rocket an electric pedal driven motorcycle in today's fast moving world of all things electric mobility well this weird hybrid find a place take a look and decide for yourself. heads turn when this 2 wheeler whizzes by it's too fast for an e.p. but a motorcycle with pedals. the rocket is the name of this electric motorcycle and it's also its mission it was developed in berlin and production models are set to hit the streets later this year without a throttle. i turn the pedals with my feet that's like the throttle here. but the pedals aren't connected directly to the rear
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wheel like on an e.p. . instead hits an electronic unit in the front that measures how fast the pedaling movement is and how hard and therefore what the desired speed is this is an intelligent pedal drive. the top speed is over 80 kilometers per hour and the battery lasts for a good 120 kilometers it can be recharged with a normal household socket in just 5 hours the electric motor cycle sells for 12000 euros in germany and there's no noise or exhaust fumes globality in the game ability doesn't have to mean doing without it has to enrich our lives it has to be fun but most importantly we have to stop burning gasoline and that's coming from someone who's burned an awful lot of gasoline in his life but if we want to leave something clean for the next generation that means not using gasoline in any form it's over this is for life and family hopes that more and more people will see
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things his way then the sight of a pedal powered motor bike may soon be nothing extraordinary. and that's it for me in the business team you can find out more about these and other stories online at www dot com slash business i'm stephen theirs and the lead thanks for watching.
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we know we were. given 1st americans at some point in our lives will experience hardship. i'm not going to think. well i guess sometimes i am but i said nothing when for example when the german thinks deep into the german culture of looking at the stereotype quirk in your syntheses of the country that i know i. needed to take his grandmother there. it's cold out there. i'm a joke join me to meet the germans on the w. . post.
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one out of 8 people suffering from hunger. the world food program is fighting over. join the fight. this is speed up the news africa coming up in the next 15 minutes a gesture from the germans and not effect beautify be clearly listed the late 19th century is finally on its way back to namibia we are if that goes far enough. to be unsafe lovelace said to africa the pop moguls new album inspired by the
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lighting is out today it features multiple african artists and producers but some east africans feel excluded.

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