tv Business Deutsche Welle September 17, 2019 1:30am-1:46am CEST
the best of games. to go in 60 minutes on d w. earth. for saving google india's tell stories of creative people and innovative projects around the world ideas to protect the climate and boost green energy solutions. the environment series of global 3000. and on line. the food. prices are on the rise after a drone attack in saudi arabia after soaring up nearly 20 percent brant crude is starting to stabilize but possible military action keeps the markets volatile. and thousands of workers go on strike against general motors negotiations are underway to put an end to the biggest walkout in the u.s.
since 2007. also the show soaring through paris iconic river this startup wants to revolutionize europe and travel one vote right now to talk. business global markets have reacted to a surge in oil prices after a drone attack on 2 major processing plants in saudi arabia the lower oil production is not the only concern u.s. president donald trump says he is ready for military action against those responsible u.s. government officials have blamed iran as the main culprit sparking fears of escalating geopolitical tensions. these are the images that inspired dread in politicians and investors around the world saudi arabia's largest oil refinery up in flames and half of the country's oil production slashed at least temporarily by one airborne barrier. appearing on a t.v.
station sympathetic to their cause rebels based in yemen said they carried out the attack but the u.s. has pointed the finger at the backers the iranians want to reiterate that the united states whole heartedly can. iran to attack on the kingdom of saudi arabia. president trump went further saying the u.s. was locked and loaded to respond. with political tensions already inflamed the economic consequences became apparent as soon as markets opened with a new week with shares across asia seeing red. oil prices initially spike spike 20 percent before receding and settling around 10 percent of saudi arabia is the world's 2nd largest producer of crude after the united states analysts say the markets have just cause to be spooked. just put into perspective they think around
5700000 barrels a day of saudi oil production has been affected it's put in sprite so again global opec says around 100000000 barrels a day so this is about 5 percent of the global supply which saw see quite considerable hits emerge saudi arabia's energy minister visited the damage to oil plants on sunday following the attack it's unclear when it will be back on stream meanwhile the u.t.s. have warned that saudi oil facilities will continue to be a target. and that of course is a cause for concern for more on this we're now joined by our financial correspondent on wall street also who is they are always there is it's good to see you and what's the immediate outlook for the oil markets can the u.s. compensate for saudi arabia stamets capacities. as for now happier it seems that prices will keep rising since there is not an immediate solution to close the gap left after d. attacks as the top oil producer to achieve more crude oil internationally doesn't
saudi arabia in the united states seem to be a key player in the current situation u.s. show producers say it can move faster than traditional ones said to pump more oil but there is a catch here oil ports are already near capacity all the producers russia for example are pumping near capacity to with and maybe around $150000.00 additional barrels a day a bailable according to some experts but we also have hundreds of millions of barrels of oil in the strategic a storage here in the u.s. but also sold in china actually the international energy agency advises all its members it to keep it off 90 days of net oil imports in a storage so it is for now all depends on how long these outage lasts. higher oil prices of course mean bad news for many industries what longer term consequences could we expect. diverse one will be
a rising energy costs affecting as you said to a bar idea of industries from mph in but also transport and even retailers but higher oil prices could also mean higher gas prices and consumption this is important since until now at least here in the u.s. consumers have somehow shielded the economy from the i'm going to eat war with china but at the minute that the cost of pumping gas increases consumption you know other areas will be reduced as a result on wall street thank you very much for the insight. workers at u.s. carmaker general motors walked out on monday staging the biggest strike in the country in more than 10 years the action has spread across 9 states and involved up to $50000.00 employees it follows deadlock in negotiations over a new contract between workers the company. that's a minute to midnight the strike began the same time as the agreement between
general motors and its staff expired the united auto workers union says a failure to renew that agreement brought them to this point this is our last resort it represents great sacrifice and great courage on the part of our members and all of us and talks between the u.a.w. and general motors have failed to reach agreement on another 4 years of paying conditions the company says it's made a substantial offer that includes improved wages profit sharing for members and investment to create new jobs but the union wants more for workers who helped rescue g.m. from the brink of bankruptcy a decade ago. on the picket line strikers feel they're over due a better deal. our time to get. a little bit. take care. if those amazing looks like we're all war and everyone's coming together as a lunar this is a community. bring justice to all the workers who have been hired been working for
years and still make the same with some temporary employees more than 30 factories in america's auto making heartlands have been affected by the strike as well as a further 20 other facilities such as warehouses union hasn't said how long the action will last talks restarted on monday in a new drive for an agreement. u.s. drug maker produce pharma has filed for bankruptcy the company produces the painkiller oxycontin one of the medicines at the heart of the u.s. crisis with the move produced trying to settle thousands of lawsuits that say it's responsible for cases of addiction and death. to graves bear witness to a tragedy every 11 minutes someone in the u.s. dies from an opioid overdose 400000 victims in the last 20 years. over 2000 lawsuits including actions from nearly all u.s.
states and many local governments accused of faulty promoting oxycontin by downplaying the risk of addiction. last week per 2 reached a deal to settle most of the lawsuits with us federal states it allows the company's assets to be sold to provide over $10000000000.00 to address the opioid crisis but many states still oppose the settlement. half the states have dad agreed to the settlement with produce and many of them are expected to object throughout the bankruptcy process which could make it longer than it would be otherwise a bankruptcy can take months or even years even without serious objections. the deal is to protect purge you and it's owners the soccer family from lawsuits but other clouds loom the new york attorney general's office has tracked $1000000000.00 in wire transfers including through swiss bank accounts suggesting the suckers
tried to shield wealth. to asia now and terry go founder of apple supplier foxconn has dropped his bid to become taiwan's president overturning expectations he would run as an independent candidate that's after failing to secure the nomination from the opposition china friendly kuomintang party he had stepped down as fox const chief earlier this year in order to concentrate on the upcoming general elections but analysts said during his campaign that his close business and political ties to china could turn off the voters wary of tightening chinese hold on the. the world trade organization approve their request by the u.s. government to impose punitive tariffs on the e.u. for subsidizing its main aircraft manufacturer airbus they use trade commissioner cecilia moms from expects the tariffs worth $11000000000.00 any time soon similar tariffs could be slapped by the e.u. on the u.s.
for subsidizing its own plane maker. and paris is the city of love that's also thanks to its famous romantic boat trips down the sand river but a start up is planning to use the river canals for everyday writes the so-called see bubbles our little boats that seem to lift off above the water if approved for public transport customers will soon be able to order of them with an app. they look almost like they're flying but these bubbles actually work like hydrofoils. when they reach a certain speed the boat seems to lift off. lower the speed and the bubble sinks down again. but the result in the boat to electric gunjan wings in the water and which with the speed of the wings to leave the boat to do reduce the drag a few of us certainly a faulty a person the less drag or the cabins hold up to 4 people and soon the bubbles may
start cruising the same test phase has already been approved and the start of founders are sure the french authorities will give the water taxis the green light all shields. and parents the traffic on the streets and bridges moves at a snail's pace. oh look this is absolutely nobody on the radio and we need to use what our words of because with oh a bowl of no waves no noise no pollution no it's certainly nicer than being stuck in a traffic jam many other cities around the world are hoping to soon get on board. and now we thank you for getting on board next time in the double business to care for the food.
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a football stadium on inflation. imagine a possible memorial to the environment in a feature. and in our series 100 german must read don you can run measuring the world imagine the contrasting lives of 2 geniuses of the german entitlement. all his life he tried to make an angular world a little more organic to do away with right angles and bend his will only to the rules of nature. was a maverick among designers crazy about cars and famous even though many of his designs never actually saw the light of day he has passed away at age 91 and that was our cue to look back on his legacy. was a visionary and one of germany's most eccentric designers his career.