tv Business - News Deutsche Welle August 12, 2020 11:15pm-11:31pm CEST
the team has advance from the competitions quarter finals to the semis thursday will see atletico madrid take on german club lights. you're watching news coming up next business stick around we'll be right back. to any other surprises. alex. thomson. in the footsteps of the great. concerns. the fleet street. 3 times wanted to marry much. to.
germany. where exactly. are sculpture history. travel extremely worth a visit. the german government extends and another lifeline to travel giant to we are intended to get the company through the winter after travel restrictions left the firm on the brink of collapse. into the worst recession in its history we'll hear from a shop owner fearing for their livelihoods. and. the company. smaller scale investors. from new york.
welcome to the show german travel company 2 years getting an additional 1000000000 euros in aid from the german government the funds are intended to help the firm get through the winter after its business was decimated by the coronavirus 2 e. has already received a loan from germany's state development bank to one of the biggest travel groups in the world turning a profit before the pandemic. for more i'm joined by political correspondent find many young find out how important is to be for the german economy. well. one of the world's largest travel companies. is the world's largest travel company certainly the largest in germany that explains only. 1.8000000000 euros in state loans. prole the 1st law german company. 1000 employees worldwide 10000 of them in
germany and they have the revenues. of 18000000000 euros or more so it's a company with a proud history it's very important for the german economy they are the 1st. evidently wasn't enough how far is the german government willing to go to save the company. yeah that's the big question and it's hard to know of course if the travel industry will ever get back to where it was before the corona pandemic it may be that in future the travel industry is just a much smaller part of the economy than it was before i think where the german government is focused on jobs 2 he's already said that it's causing 8000 jobs worldwide and in a statement today the economics ministry said you know this is to help the company get through an unprecedented struggle and
a difficult time and above all to secure jobs but it's an expensive way to go and obviously they won't be able to keep up this kind of support for ever and are not germany in the thing a lot of money to protect better things than workers from the coronavirus are the policy of paying off well that's right those a 750000000000 euro aid package to sort of ward off the initial effects of the pandemic with the furlough scheme and then another $130000000000.00 euros in stimulus to get demand going including lots of things like tax relief for businesses and so on has it worked well germany hasn't seen a massive downturn in its economy despite the drop in export orders and of course germany is particularly vulnerable there but there haven't been the mass layoffs or insolvencies that are feared so far if a 2nd wave comes and if a 2nd round of these massive measures can't be afforded well then there could be
a lot of pain for the german economy i mean young thanks for speaking with us. authorities on the island of memberships have been working around the clock to contain last month's massive oil spill from a japanese owned cargo ship the prime minister says nearly all of the fuel has now been removed. war thousands of animal species are at risk of drowning in the polluted water is and that food security health and the country's economy are in peril. these coral reefs have brought re now into more rishis a tropical island nation beloved for its natural beauty and crystal clear waters but there's trouble in paradise a massive japanese freighter on route from china to brazil struck a coral reef there. gaping hole in its haul. from the belly of the ship thousands of tons of oil leaking out and pulling on the shallow
waters close to the shore threatening an ecologically sensitive area. the ocean is also the lifeblood of the mauritian economy last year 1400000 visitors came to the island. of a huge space you think there's a. review. of this. the south east 1st. fish and fish. i mean. residents along the coast have been collecting the oil sludge and buckets and the government says almost all fuel has been removed from the tanks of the ship but considering the scale of the accident longer term fixes are still going to be
needed. the british economy has fallen into its worst ever recession the latest quarterly figures show the economy contracted 20 percent a far bigger decline then other advanced economies but dismal numbers coupled with the fact that a scheme to protect furloughed workers is due to end it october has left small businesses terrified about their future the large good shop in south london is still open for business but the weeks long lockdown has pushed the owner to the financial brink now there are hardly any customers having to wear a mask inside is not exactly conducive to leisure browsing and shopping and many people are holding on to their money shopkeepers not just here worry that they won't be able to hold on for much longer. we're just very worried about the future . we warned about a 2nd wave of the corona virus hitting us especially with christmas coming we are not sure whether to have to commit to stop for christmas or not because we don't
want to be stuck with the same time if it turns out to be busy we don't miss out on sales so it's a very uncertain time small businesses in particular are suffering during the recession the borough market is london's oldest food market these days it's emptier than it's been in decades and it's not just because people worry they'll become infected. we normally get $21.00 of those people coming through autos each year this year will be lucky if we could free nearly 750000 britons have lost their jobs during the pandemic experts worry that that number could soon climb at some grounds it is a real risk when the firm and i skied means that there will be a job's blackball off as it were going to be a big increase in unemployment at that time and that would then not hold so the rest of the economy no problem a quick recovery is nowhere in sight still many shopkeepers here hope that they'll be able to somehow keep their heads above water in the months ahead. now to some of the other business stories making news one of the most famous names in
entertainment is 20th century fox is the no more the company's t.v. studios have been renamed 20th television the field studio wasn't ready renamed in january after defeat both the bulk of rupert murdoch's fox media outfits. meanwhile fox is launching a global streaming service for its news and business channels conservative leaning fox news is the us as most popular t.v. news channel but so far has only been available to domestic cable and satellite subscribers. kesler its stock for the 1st time in its history this month investors will receive 5 stocks for everyone. they currently own the move will not change how much the electric car maker is worth but it will make its shares more affordable the american company company went public just a decade ago last month it overtook toyota to become the world's most valuable car
maker. let's go now to business correspondent yes it's quieter yes tesla has had a stunning rise over the past few months why are they looking to attract a new type of investor not 0. well it's always nice to find a new source of income and well if you look at it in the absence of sports betting especially a lot of younger people have actually have discovered this stock market for themselves i do not believe that it's necessarily targeting younger people why tesla did this split off their stocks but overall yes if you want to attract them smaller investors it is helpful if your stock is not worth 1500 dollars but just i'm sorry $100.00 so that's what's happening here and tesla had been is stunna showing a run in the past couple of months a year ago the stock was at about $200.00 now the stock just on wednesday gained
$180.00 to the surprise $1500.00 per share so clearly an incredible run in general those stock splits basically are just of course medics but it does show that the management is quite certain that the stock should hold up at this level at least and as i mentioned you will attract smaller investors as your shares get cheaper one of the big questions for the near future remain if tesla will get added to the s. and p. $500.00 index if that happens then a lot of fund managers would need to purchase tesla stock and that could drive the stock price even higher but then again it's really been quite mind boggling if you see what's happened to the stock of tesla but obviously it's specially younger people are really attracted to all the all electric place where tesla clearly
belongs to mind body india and yet quite a new york banks have ever. and finally a modern but unique find a baseball card featuring mike trice of the law fantasy angels has been put up for auction with betting starting as a $1000000.00 and initial offers have blown past that figure are ready with the auction only to end on august 22nd that's already a tidy profit for so called a vacancy dave a sports betting consultant who said he bought the card for 400000 dollars 2 years ago. but an investment and that's all we have time for thanks for watching.
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discover the. plane. subscribe to the documentary on you tube. this as did other news africa coming up on the program fears of escalation in mali a split just as for 10 streets to be mounted on the president that resides but he's refusing so what is the way i'll be impasse. that we meet on x. convict incomers and whose training prison has to make face masks to protect themselves against the code of virus and. it's a race against time after leeds in uganda are hoping to get back on track after their current.