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tv   Business  Deutsche Welle  March 5, 2020 7:30am-7:45am CET

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of slavery i think will truly be making progress when we all accept the history of slavery as all of our history. our documentary series slavery routes starts march 9th on t.w. . asian markets continue to recover from a brutal period of selloffs government stimulus plans reassure investors jittery over the coronavirus can china now boost hopes with a return of manufacturing take a look. all eyes on the opec oil cartel considers a production cuts of both are weak prices but it could face friction from within its ranks. also on the show can europe's biggest travel company survive an epidemic to eat cuts costs as the corona virus spreads. this is your business report i'm
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stephen beard good to have you with us asian stocks have been on the rise as governments and central banks take aggressive measures to fight the coronavirus outbreak and limits its economic impact on kong's hang seng index rose nearly 2 percent while in tokyo the nikkei index ended more than 8 percent higher shares also rose in southeast asia there are signs that chinese companies are slowly grinding back to life after weeks of lock downs and quarantines markets rallied after a surge in u.s. markets and the i.m.f. has announced $50000000000.00 in funding for countries hit by the epidemic. and let's go down to correspondent in taipei those on han. flickers of optimism there from asian markets you've been talking to managers and executives of chinese businesses do you see a similar optimism there. well i'm afraid to
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asian underground doesn't look so optimistic though the chinese government figures are fishel figures show that over 70 percent of the of the production has been restarted it and in some certain provinces like wandong it's more than 90 percent but they are mostly big companies small business reported that only less than 30 post percent of them are back at work but they do expect full production in april and almost all workers returning to their jobs in march. so the major production facilities appear to be gearing up again those small businesses you say that are still yet to really get going what's preventing them from really coming into swing here yeah i want to ask something like a small business they are the majority of employment in china for the the process of returning back to normal has been very difficult because they cannot meet the
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virus prevention standards set by local governments and they simply just don't have enough facemasks for everybody and even though the chinese government did offer some subsidies for example like charted trend of flies as well cash bonuses for workers but they are for big companies or stay on enterprises so the situation is still very difficult for small businesses. with the latest from our bureau in taipei thank you very much. now the opec oil cartel is considering output cuts to offset we can demand through the corona virus outbreak the 14 member nations and russia will meet today in vienna. the opec members are taking a hit from a 25 percent slide in crude prices since january the coronavirus having a devastating effect on factory output especially in major consumer china and it's also dampening demand for fuel in key sectors such as aviation but
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a possible output cut could be a hard sell for member countries who are already dealing with curbs. and for more on this we go to frankfurt now where financial correspondent only bards joins us. how important is this meeting today for economies and markets it is important it's unlikely that even if opec cuts production that the oil price will rise from not the countries with the price going lower are dependent on getting revenues and they'll probably pump quietly or clandestinely more than the commonly decided to cut my suggest or or let them produce but they need the money for the economy for most of the economy around the world to lower oil price is a very very favorable side of the equation at the moment it's of course a direct reflection reflection of the man going down as you said but imagine if the oil price were still higher people would be having in light of this coronavirus
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crisis a lot more difficult time making ends meet both businesses and consumers as one of the determining factors of any economies well being of growth or no growth up there along with foreign exchange rates and interest rates at the same time really the feeling that presents can't get too low. that's right because the oil industry as a big industry that's one of the reasons you can't put too much pressure on that that pressure translates to some stock markets like and u.s. or canada for example where oil corporations play a big role in the crude prices well lots of jobs also depend on it whole economies depend on it other countries like nigeria for example in the persian gulf countries and lastly if the price goes too low then refine the risk it close because it's not worth it and that again drives up the price later all the more and it puts fracking
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companies and a difficult situation high leverage companies with great financing problem for banks around the corner perhaps if the price gets too low for them right always the question of hitting that moving target really bards their force in frankfurt thank you now as we've been reporting for weeks now global exports have also taken a big hit to the coronavirus with a shortage of industrial parts from china disrupting supply chains around the world panic buying takes hold many countries including germany are limiting exports of crucial items such as face masks and other protective gear face masks and disinfectants is sold out in this building from the sea and as they are infamous these across the country when you zoom image to the gym these 1st coronavirus patients many people began stocking up no replacement supplies to come. masks and disinfectant so completely sold out we couldn't get hold of anything from
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a supply is. but most small samples where i can get hold of 3 or 4 bottles. but then the sold out inside 5 minutes. protective clothing is running out production lines in china stood still just as the whole world wants to stock up on musk's and disinfectants the shortages of from to the gym and government to ban explosive protective gear and they've also raised industrial alcohol for emergency disinfectants on top of that major events of being canceled or postponed in germany the latest the huge turnover industrial fed has been pushed back to july. now another sector feeling the coronavirus pitch is aviation. says it is grounding $150.00 aircraft due to the outbreak this after it already suspended flights to china until late april tons of group include swiss and austrian airlines european
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airline executives warn that the worst economic damage is yet to come but say travel demand could stabilize in the weeks ahead now a major british airline budget carrier fly b. has collapsed and canceled all flights amid its own struggles with the coronavirus outbreak flabby fleet is grounded and the airline is unable to arrange alternative flights for its passengers which employs 2000 people has failed to turn around its fortunes since being purchased by a consortium last year and initially owing to meet demand and fierce competition. now let's take a look at some of the other coronavirus related stories making global headlines. the producers of the latest james bond film say they're pushing back the release date no time to die i was supposed to hit cinemas in april but is now being put on hold until november m.g.m. and universal the companies behind the film hope more moviegoers in places like china will be able to get to theaters that. ronald toilet paper in australia
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has 4 supermarkets to impose strict limits on the amount that shoppers can buy that's one of many countries around the world reporting frantic buying of groceries and other household staples amid fears over the corona virus epidemic. police and tax inspectors have carried out a series of nationwide searches of some of portugal top soccer clubs this includes the so-called big 3 but a figure of porto and sporting c.p. as part of an investigation into suspected tax evasion the operation is called offside. the travel industry in europe saw one of its biggest shake ups last year when british tour operator thomas cook filed for bankruptcy that opened up market share in a tight sector but the competitors best position to profit are facing a new challenge of the chrono virus which has them focusing on their own survival. at least the fishermen in the harbor of puerto dillon cruise look relaxed but for
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many the coronavirus is a major headache. tourism magnet tenor reef is popular with both the british and the germans but now the sun seeking holiday makers look more eat each morning they wake up to gloomy headlines not exactly the recipe for a relaxing vacation. the koren team hotel maybe far away in the south of the island but weeks of bad news about the 7 infected individuals intent on reef is having a negative impact on the tourism sector but they're not part of the debate it's affecting the home market restaurants hotels we're seeing fewer guests at the moment compared with last year. we're really feeling the loss of the customers but of course we hope that it will all blow over quickly but in most cases where she was forced to not that much. for the canaries the coronavirus panic is just one of
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many major problems. breck's it and the bankruptcy of thomas cook one of the biggest holiday bookers are making the crisis even worse the local office in part a delicate cruise has stood empty for months a list of excursions can still be seen and so can a notice about the company's sudden collapse thomas kook's insolvency presents a great opportunity for a german travel company to eat the germans want to take over thomas cook's market share they'll have to be well prepared for the coming summer season i will address in the us we are trying to get a more mobile it's more more rooms on the other hand so of course we have the 5 capacity and in total we are expecting for deliver a half a 1000000 customers in germany a german custom us an additional $1000000.00 of british customers because to moscow one of the markets. but the coronavirus hysteria could forth their aspirations
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share prices of the world's largest tourism company have recently fallen sharply which mean lead to relegation the situation on the canaries has calmed down somewhat and most of the cells isolating hotel guests are at large once again but overall there is great concern in spain over tourism one of its most important economic sectors. and that's it for me and the business team here you can of course find out more about these and other business stories on lot at the dot com slash business i'm stephen burns thanks for watching .
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my 1st by saying the sawing machine. women are falling by this ocean for. something as simple as learning how to ride a bicycle isn't. good i want to have a bicycle off my. game bob invented by me and i say but britto with the sewing machine sewing i said. it was more appropriate for girls than writing advice and no. woman back home were bones by the
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force for good and informed them about deadbeats and writes my name is the about of the group and they were seated. greetings from berlin and a warm welcome to the latest news from arts and culture i'm karen how it started here's a quick look at what's coming up on today's show. meet the germans it is back and in honor of international women's day my colleague rachel stewart gives us the lowdown on how it is to be female in germany today. and we'll be meeting up with a photographer on a mission to find the hidden and unlikely places that classic cars go to.
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we start with an explosion of energy in the form of one nicholas curl up he hails from fireworks in southern germany and even though he's only 15 years old he's got star quality on stage as a dancer all at the recent world dance cup in baja guy in portugal he was named dancer of the year from a field of $6000.00 participants not poetry in motion doesn't come easy. you let go you let your body do what it wants. to do everything to take the audience with you the. one you've got.


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