tv Business Deutsche Welle March 19, 2020 12:15am-12:30am CET
still more than 4 months to go and we will address. the real keep things in a responsible way. the news live from but we'll have much more coverage of the coronavirus and demick on our website including information on what to do if you think you've been infected. every journey is full of surprises moved up. to news from see anything in the footsteps of the bridge. in your. town the fleet street. 3 times you wanted. to marry my fellow. good guy to specialise in
germany. where exactly. are culture history. travel extremely. global markets fear recession and go looking for cash investors in companies abandon stocks on wednesday as well as typical safe havens like bonds and gold now governments are racing to prevent a spiral. also on the show we'll look at the start of a berlin that's proven to be especially vulnerable to the coronavirus. and we showed the way cargo companies like are dealing with the backlog of the pandemic keeping at least some supply chains. this is your business report.
it's good to have you with us. global markets continue their sharp sell off on wednesday after more key businesses sounded the alarm over worsening finances. and plans to freeze their activity now the dow and the price of oil both tumbling wednesday safe havens interesting lee were also hit hard gold falling as well as the yields on 10 year u.s. treasury notes as you can see there yields going up the interesting thing here is that that suggests investors and companies are looking for cash that is an unusual correlation there between stocks and bonds either to plug holes in operating budgets or because they don't understand what is a good investment right now and the bottom line over the last few days and vespers companies and governments appear to be reckoning with a near complete halt to economic activity for an unknown length of time and that's
an unprecedented challenge with an unclear solution. now berlin has been hailed as a european startup mecca but the coronavirus is sparing no sector analysts say startups are especially vulnerable now and one travel technology company and staff are working from home and bookings have plunged. travel company. makes its money about connecting travelers to local guides and businesses all over the world its headquarters are located in the german capital these days the usually bustling offices spookily quiet all of the company's 600 stuff have been working from home since last week. it's a devastating time for the entire tourism industry we all had a very good started to the consumer sentiment and january and early february was very strong before the coronavirus had italy and now within
a matter of weeks we've gone from strong growth to a reduction of more than 50 percent in the volumes of bookings. just one of lynn's more fortunate stone steps having raised you know french a capital for the next 2 years but the coronavirus will hit many startups in the city whose famous streets and i will also ghostly quiet no one is going to be exempt from the implications of corona started to especially are going to be very vulnerable they're already running on very lean budgets and as customers dry up a let's hear a start up that focuses on things you do in the house or delivery you're going to be struggling. despite government support for small businesses hit by the coronavirus when the crisis is past many of the smaller start ups in this top tech city may be no more than a memory of simpler times. and financial correspondent jose luis de haro joins me now from new york jose the u.s. the world's largest economy is still working on its stimulus plan to respond to
this outbreak this pandemic i should say where things stand. for now is stephen i'm bringing lots of news that the 1st ones we just learned minutes ago that denies the will close its trading floor is starting march 23rd and will star operating completely and fully electronically for a period of time and then also it's important to have in mind that the senate just passed the bill approval ready by the congress last weekend and basically these would bill will provide in hanes unemployment insurance insurers say that businesses that have fewer done 500 employees they can offer 2 weeks of paid sick leave to their workers and increases funding for food assistance programs has had from guaranteed pre-testing for decor on a virus but that aside from these there are all there are several plans being discussed between legislators and the white house to push federal spending up to
one trillion dollars over 4 percent of us that g.d.p. to bear with the effects of the virus among those plans discussed by the treasury there is hope to approve 2 rounds of direct payments to individuals which could mean up to $2000.00 for many americans a massive government intervention we should note that the president's a conservative republican who wants to let business markets generally run on their own except when it comes to stimulus such as tax cuts does he have support for this . probably not stephen and that's why negotiations for a forced to melissa package are taking so long we're to talking about direct payments to individuals bailouts for some industries and is skyrocketing the federal budget deficit a document that can be in full confrontation with 3rd and political believes here in the united states that it's why ward in the current situation is becoming important we have heard the president labeling himself as the wartime president all
americans to sacrifice a together and war it's been referred also by u.k.'s prime minister boris johnson or french president my normal. case of missing gene the crisis as a war may allow him to keep implementing measures that the normal circumstances will probably take a bigger political toll all right a good reminder to remember just how disruptive those stimulus measures were 12 years ago in the u.s. jose luis the heart of the force on wall street thank you. let's look now at how the coronavirus is making business headlines elsewhere in the world millions of poor indians may get compensation for income lost due to the coronavirus state of products home to the famous taj mahal is the 1st to begin counting who qualifies the state which is one of the poorest in india will make online payments to poor and daily wage workers if they lose work because of the pandemic. b.m.w. shutting down all car production in europe and south africa until lease the end of
april german car maker saying it needs to protect the health of its employees the company already had at least 3 cases of coronavirus at its r. and d. center in munich. and that announcement follows a similar one from volkswagen homes that evolved the announcement that the company's closing plants there starting friday is setting the scene for an economic world when we talk to some of those will face the full blast of the shutdown it's. complex involves a shift change more than 63000 people work in this factory on friday it's set to close to protect them from the coronavirus the shutdown is planned for 2 weeks but that could easily turn into 3. weeks well mine is what they have to do the earlier the better it's a bit tricky with payment we don't know what happens from here own. we work this thousands of us elbow to elbow the contents being shut the restrooms weren't being cleaned anymore other companies weren't allowed in but we still had to work with
our colleagues. well sprint has around 124000 residents and hardly anyone is still taking taxis. yes we're probably going to have to discontinue no taxi operations when the folks in factory shuts down at the moment we do maybe 2 to 6 trips a day why we think. before the coronavirus struck the city center used to fill up at midday but most of the businesses have closed now many and while sprigg think that's the right thing to do. you think i think so yes if it's already gotten so bad with the coronavirus it had to be done through. the v.w. factory closure will reverberate across business sector this not stand owner says he's already lost 90 percent of the sales. and much of the world's air cargo travels in passenger flights that means the travel restrictions currently in place
around the world are affecting not just passenger traffic but the global are just exchange now of tons of is trying to catch up to the back load. this boeing triple 7 owned by tons as freight subsidiary is set to fly to shanghai full of machine parts in medications all of those tons as cargo aircraft are fully booked as dispatchers worked to reduce the backlog of goods from weeks of cancelled flights amid the coronavirus crisis that's become more complicated but it's far from the only issue. normally we would do a direct flight for example from frankfurt to shanghai we're currently operating in a security mode a caution mode over novice a beer skin eastern siberia that means a stopover and that allows us to have a crew change there and avoid spending the night in mainland china was in the cargo area of frankfurt airport containers and pallets are stuck and ready to ship canceled passenger flights from lufthansa have caused the pileup the german airline
grounded thousands of flights across the world due to a virus really to travel restrictions and in the belly of almost every passenger plane cargo was meant to be carried. the threat of live tons of cargo faces a problem many of his 4000 employees are working despite the big backlog of orders . fans of the force that's for if you imagine that 50 percent of our capacity is in the bellies of passenger planes and that there are no longer flying or just to a limited extent then of course we're short on capacity and since we lack a passageway we also lack employment yes of course we're thinking of short time work with. stephanie meyer is in a similar situation he's ahead of a medium sized air and sea freight company he's seen a 10 percent drop in assignments compared to a normal january and february because of the limited transport capacity and high prices his company has to turn away orders from some customers so tight is deployed
at the moment planning is almost impossible we're living day to day not thinking about tomorrow we've come to grips with the situation in china but other markets are coming like the usa which we're. having to that concern our worries around additional corona outbreaks in germany if too many employees fall ill some branches may have to shut down completely. and that's it for me and the business team you can find out more about these and other business stories online at the dot com slash business i'm seeking this watching.
the global corona crisis you can find more information online at e.w. dot com and on t.w. social media channels. the conflicts spike from a sister respect to move the goal nigeria's government sponsored by the international community of serious human rights abuses i guess this week here in london is a live comment the country's information minister how does he defend against the country's many critics when the evidence of wrongdoing is so compelling. the full. steam of. literature invites us to see people in particular.
i like to see how some of the kids find instruments grown up her. objective is to share with her friends. you know the books on you to. welcome to global 3 thousands. that's 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 in cambodia too but chinese investors are the main beneficiaries.