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tv   Business  Deutsche Welle  March 16, 2020 10:15pm-10:30pm CET

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division's chief executive christiane said that the health and financial security of all $56000.00 football employees remains the highest priority on tuesday europe's governing body you wave will does meet to discuss the future of the european championships. you're watching the news coming up next germany's economy grounds to a halt virus fears spread with stephen beard's we will be back right after this. to be a book. crime fighters are back africa's
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most successful radio drama series continues this season the stories focus on hate speech prevention and sustainable charcoal production. olympus odes are available online and of course you can share and discuss on because facebook page and other social media platforms. crime fighters now. europe's largest economy closes shop as the corona virus spreads germany follows its neighbors and shutters main street businesses in a bid to slow the al break its carmakers in airlines are also feeling the pinch. airlines in the us there they may not make it years in and now they want washington to guarantee 15. 1000000000 dollars in help. also on the show france is shutting
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down public life leading to worries about the availability of food and other necessities. this is your business report i'm stephen beard symbolism thanks for joining us the german government announced new measures on monday to slow the outbreak of coronavirus in the country closing many retail businesses shattering playgrounds and curbing restaurant hours the decision follows more drastic measures in neighboring italy and france where general quarantine orders have limited public life and hit small businesses especially hard in germany it's the large companies that have been feeling most of the pain so far as trading got underway in frankfurt at the start of the week there was no doubt left that germany and its entire economy had arrived in the coronavirus era the benchmark dax index plummeted to begin with despite a late rally the dax closed over 5 percent down and below 9000 for the 1st time
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since 2016 the carnage was even worse another european exchanges. on the downward momentum could hold for quite some time even though several central banks have opened the money taps wide. markets will remain volatile i think the worst is yet to come in infection and. then you have to see that a time will come where the number of infected starts forming and things come down then markets will recover but right now we're in the center of the virus crisis. cinemas theaters pubs and clubs child care centers all closed in berlin or as elsewhere in the country like the normally standing room only munich off bro house which is closing on wednesday there isn't a sector that isn't taking a morning from the microscopic monster and the longer it rages the worse it gets for small and large companies the coronavirus has paralyzed the tourism industry
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many tour operators including sector number 12 we are halting operations for the time being border restrictions and a demand slump of course germany's love towns have to cancel 90 percent of its long haul flights and 80 percent short and medium haul cargo flights are still operating . we consider it absolutely essential that air freight traffic continues to run smoothly this is necessary to ensure supplies to the population but also to supply manufacturing companies who could see and. the german government sees no requirement for economic aid for the hard hit airline industry it says existing measures such as short time pay service cities liquidity programs and taxi firm and should suffice. and meanwhile in the u.s. major airlines are asking washington for 50000000000 dollars in emergency aid to help them survive the sharp downturn in air travel due to the coronavirus the trade group airlines for america warned that large flyers could run out of cash by year's
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end it's asking for a combination of grants favorable loans and tax cuts airlines around the world have canceled routes as governments impose travel bans to prevent the spread of the virus. a carmakers including volkswagen and chrysler have scaled back production at their european plants as coronavirus restrictions put the squeeze on their production lines they're also facing questions of demands with more and more people forced to stay at home except for strict working needs many forecast a heavy fall in car sales in march folks have been looking forward to a bumper year after the diesel gate disaster but now it's slashing output it it's lisbon planned because workers aren't turning up portugal ordered all schools closed in response to the corona virus outbreak leaving many employees struggling to take care of their children. v.w. says it will suspend operations in practice law after slovakia declared a state of emergency over the virus meanwhile italian american company feel at
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chrysler says it's halting production for 2 weeks at most of its european plants to help protect staff and adjust to a slump in demand and just days ago as well as b.w.c. out unit announced temporary stoppages in spain that could last for days or weeks. and francis p.s.a. had hoped to capitalize on the car of the year award for its peugeot 208 model but now it's shutting down its european factories until march 8th well. the new sounds bleak and it is but analysts say europe's car industry suffers from oversupply which an industry wide closure could fix and people in the market for a car will likely still buy one even if they have to wait. and let's look now at how coronavirus is affecting businesses elsewhere in the world italy's economy minister says his government plans to pump some 340000000000 euros of liquidity
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into the financial system that represents roughly 20 percent of italy's annual economic output he also unveiled a 25000000000 euro rescue package to protect italians from the fallout of the coronavirus pandemic. the european union says it has no plans to ban the export of medical equipment to nonie you countries that's according to a press representative from the european commission who spoke after the commission adopted a measure requiring authorization from a member state before a company can export medical products. in belgium robots are being drafted into care homes to look after the elderly and chat with them on the program is being rolled out the coastal town of alston's a local company supplying $1000.00 of the machines which unlike their human counterparts cannot contract or spread the krona virus. and with paris is famous restaurant scene shuttered during the coronavirus clampdown a nonprofit group is making sure the leftover food doesn't go wasted its workers
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travel around the french capital by bike to collect food from restaurants and caterers before donating it to those in need. and speaking of france the country is bringing public life to a standstill as the country braces for that spread of coronavirus schools restaurants cafes and of those and other non-essential businesses all shutting their doors all french citizens are being told to stores stocking up on essentials across the country as they anticipated a lock down the removal from group i'm getting ready going to shop for my mother stocking up on food for her cigarettes because she's a smoker and then it seems that we are going to be put to confinement in our homes so i'll be staying at home. authorities say the panic buying is not necessary supermarkets and pharmacies will stay open but the lockdown comes after a spike in coronavirus related deaths in france owners of other stores though are
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already worried about their economic futures. and if we can't do anything we're forced to close and it's up to banks and insurance companies to take on the economic loss that is going to be enormous for everyone is so without them i don't think we can survive this crisis one or 2 months of closure for small businesses like this it's the end. people queued for fuel even though they may soon have nowhere to go the many are taking no chances. south korea is among the countries worst affected by the new coronavirus but businesses in the country are working together to share the economic burden from cova 19. korean landlords and tenants are sharing the burden of weathering the decline in business caused by the corona virus outbreak with reductions in rents large traditional markets especially needed the help.
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we used to get an average 300000 visitors a day. but since the corona virus outbreak began we've been seeing less than 110th of our usual number of customers. business owners here have been suffering immensely. not only domestic sales are affected as international trade has also dwindled especially for small exports. as. korea has a competitive global legend the fashion industry and its products are high in demand overseas but now that foreign buyers can't even enter korea coupled with slowing fabric shipments and fewer visitors to the market overall it's having quite a large ripple effect. in addition to the rent reductions market managers have also coordinated strict public health responses some landlords have provided up to 50 percent off in rent although smaller reductions are more common but even those
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providing the discounts argue for more state led measures. meant to be complementing revenues of the merchant's biggest concern so tax remedies are needed although the government has announced new tax breaks a lower income tax means little if merchants aren't making much to begin with so many want to see a decrease in value added tax. among. the large traditional markets rely on both tourism and elder shoppers both of which have dried up although more assistance may be coming merchants here insoles an empty moon market and around south korea are soon likely to get some more help from the federal government the national assembly is set to pass a multi-billion dollar supplementary budget to support small businesses and to help contain and mitigate the qubit $900.00 break. the so-called nice landlord trend
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has also brought banks into the movement with low interest loans as korea copes with a deepening kovac 19 crisis. and that's it from me and the business team here in berlin you can find out more about these and other business stories online at www dot com slash business i'm stephen beard so much for watching.
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the fields hard work done by. saving the cold means around the dominican republic. the sensitive ecosystem is under threat from the tourism i mean conclusion. conservation project aims to save the delicate coral because the reefs are an important ally down to. 3000. next on the.
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quarantine diary. journalist sebastian labelle zeek documents daily life in beijing where protective measures grow tunder every day. the state controls and monitors with a heavy. but there is resistance. which underpin close up. 60 minutes. each stop tells my story. of the people who planned to me build dedicated lives to me i am not too dumb to. be on the scene with a minute. in the centuries they built me they created something true in the rush. hour too much as i was destroying it. i have mocked my cities days for centuries the company my country my hours
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until the day i knew. not the time to leave dance and fall and. welcome to global 3000. mass tourism and climate change have caused coral reefs in the dominican republic to die off could liberate trade bred corals help restore them. tourism is big income by using it too but chinese investors are the main beneficiaries locals a notch the losing out. first we go to a plane.

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