tv Business - News Deutsche Welle April 30, 2020 1:15am-1:30am CEST
more news on our website it's d.w. dot com follow us on twitter and instagram as well we at the news told me a lot of folks these are drugs. it's a deadly sin. and the whim of nature. motivates us. and threatens to ruin most. greed. musician the desire for me. to move to that drives out. puts it in danger.
why don't we greedy. we go in search of answers when a documentary film. starts may 21st w. . the worst economic hit since the global financial crisis figures show us g.d.p. fell by almost 5 percent in the 1st quarter to the downturn is just getting started . meanwhile the german economy is heading to a record breaking recession this year. this is the interview business on robots in berlin. the u.s. economy has seen its biggest quarterly dip since the global financial crisis. well
here's a go to the page frank by 4.8 percent during the 1st 3 months of the year as the coronavirus pandemic took a heavy toll us economy over it shut down during the last 2 weeks of march since then more than 4000000 americans have applied for unemployment benefits a drop in g.d.p. and the united states longest ever period of economic expansion. and on that let's bring in our financial correspondent young's quarter in new york he looks bad but it could be worst on the way in that clearly things will get worse before it turns better if you look at the past quarter the locked on hasn't really started before at the end of march so there are some estimates that in the current quarter the u.s. economy could contract by 30 percent plus before we might have things to
brighten up a little bit in the 2nd half of the year especially consumer spending was down quite a bit and then also the service sector obviously got hit especially hard. the federal reserve has just tell us today they've been discussing guiding u.s. economy through all this mess what's come out of that meeting. where there was one phrase that was quite telling from fed chairman jerome powell he said lending is not spending so the federal reserve is trying to do whatever is possible but at the end of the treasury department it's congress so that really. gives more money to companies and to the u.s. population the federal reserve can lend money but they will need to get the money back at a later point but this lending is very crucial because what the federal reserve
tries to do is to prevent at least the financial crisis even if it can not do much to prevent the health crisis and also the economic crisis so but the federal reserve also said they are going to do everything possible in their power to soften the impact of the coronavirus and also the economic lockdown of the markets overall by the way they reacted to positively the dow jones industrial average was up by more than 500 points so that was another gain of more than 2 percent. thanks young's quarter our correspondents in new york and sticking with. something of a flurry of results coming in joining wednesday let's bring in the main headlines that. boeing says it plans to cut production and shed 10 percent of its workforce around $16000.00 people u.s. playmakers says the aviation market is frozen because of the coronavirus pandemic
it's based on a 641000000 dollars loss for the 1st quarter of the year. meanwhile european rival airbus says it lost $515000000.00 during the period. facebook's or endings climb as its user base grows during the pandemic the social media group of $4900000000.00 in the january to march quarter more than double the amount it made last year and we've also heard from tesla which has exceeded analyst expectations for revenues it posted its 3rd straight quarterly profit electric car making creased revenue by almost a quarter to 6 1000000000 dollars in the 1st 3 months of this year they're also managed to boost deliveries despite destruction caused by the corona virus outbreak . other coronavirus crisis is also hitting germany's economy with full force the government predicts this year will be the worst in its history with g.d.p. or even further than during the global financial crisis but there's at least some
hope for a better 2021. the german economy minister has nothing but do you mean clean to offer on wednesday the global knock down because of the coronavirus pandemic has left a trail of destruction german exports are predicted to slump by 11 and a half percent this year. should this be german economy has been struck hard both internationally and domestically. we believe that this year the german economy will shrink by 6.3 percent they will send its own $6.00. the aim now is to preserve the very fabric of the german economy requiring billions of euros of investment from government coffers he sat among the proposals on the table our premium on new car purchases. while easing lockdown restrictions will help restart the economy there is no quick fix. even if we will see
a gradual relaxation of restrictions we hope that the data we receive in coming days will permit us to do this but even so we will not be able to revive the entire economy at once. experts think the crisis will bottom out in the 2nd quarter and then things should start to pick up but the economy minister says it will be 2022 before we see germany's economy functioning preclear on a virus levels again. and half of the global workforce of 3300000000 people could lose their jobs because of the coronavirus that's the alarming find the international labor organization anyway which says workers in the informal economy likely to be the hardest hit. nearly 1600000000 workers without proper contracts or on short term contracts are in immediate danger of losing their livelihoods because
of the coronavirus pandemic we estimate that the average income of informal economy workers around the world the hit will be 60 percent these are people who don't earn a lot of money in the 1st instance so the voles the most vulnerable desperately need international solidarity assistance simply to survive hundreds of millions of enterprises are struggling to survive during the prolonged lockdowns the international labor organization says governments will have to provide assistance to companies in the most vulnerable economic sectors to prevent job losses that's retail and wholesale its manufacturing its business says we are seeing that some 436000000 enterprises around the world on that high risk of going on as governments across the globe stepped up assistance to counteract the crisis the i.l.o.'s urging them to speed up procedures for unemployment benefits
extend support to independent workers and fast tracked access to loans for small and informal businesses that will help preserve jobs now and boost labor demand once the recovery phase begins. coronavirus is also having a devastating effect on the 22000000 in the citizens who work in agriculture and portugal where farmers are deeply reliant on exports to elsewhere in europe and return to normal business called come soon enough these cabbages on a farm near lisbon are ready for harvest and good weather means it will be a good yield but cost doro from the cooperative aren't sure that they'll find any buyers. no nothing just says there's a so i see the beginning of the week a customer can say they want 3 or 4 pallets sent to them by the end of the week but
by mid-week they change their mind because they don't have any transport and then i'm just stuck here with this produce i can't sell you some 30 new conceive ended up with. rising transport costs and declining demand are $2.00 major problems and at a crucial time 80 percent of the vegetables are usually exported between april and may which i think i'm sick on the scene when you work in agriculture you always have to factor in weather but now we also have this situation it's creating a lot of uncertainty and we don't know what we're going to do or what the future holds let's let down. just a few kilometers away a farm is harvesting new potatoes it's a product that's usually sold domestically but hotels and restaurants are closed and the farmers are starting to feel the absence of the usual tourists. there are just a lot fewer people in the country right now which means there's a lot less demand for our producers cost me the bill i'm now. traders at the
wholesale market in lisbon are also seeing the effects of a crisis on the locals the country is cooking in crisis mode. will be there consumers are focusing more on staple foods like vegetables for soups potatoes onions and cabbage. but the whole so workers generally seem more optimistic than farmers that things will go back to normal soon. funny acosta is tending to the leaks that should soon be leaving these fields for spain and france because he's a not only the damage is enormous so we have to save seeds for the next harvest scene but if we can't make money from this one then we won't have the means to do that let us put off is it. this uncertainty is weighing heavily on the whole country the international monetary fund predicts that the portuguese economy will shrink by at least 8 percent and the unemployment rate will double. and finally
here on day to your business during this crisis we have seen all sorts of creative ways of dealing with the economic pressure well one cash strapped buffalo farmer in southern italy converted production of his prized catch a fellow cheese into a unique investment opportunity to help keep sales going introducing catchy obama buyers pages 70 morays each for a teardrop shape for the cheese and receive a bomb promising delivery once their traditional speciality a spacious enough to enjoy with some bread a bit of flying sounds lovely great stuff thanks for joining us.
take the opportunity to focus on the impact that the corona virus pandemic is having on human rights around the world there are reports of invasive surveillance authoritarian power grabs my guest is the head of human rights watch kenneth nofollow many limitations are people willing to accept in order to fight a threat like coronavirus conflict. 60 minutes on d w. happiness is for everyone szymon penises are very different from primates we have already totally ridiculous romanticized view of nature david and this is climate change regular sex how fitness improves books you get smarter for free you know with works on. the global