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tv   Business - News  Deutsche Welle  October 23, 2020 8:15am-8:31am CEST

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to stop the catheters from the interrupting each other present trouble doctors are more restrained turning biden renewed is criticism of the president's handling of the credible pandemic while trolled so little on actual policies. because up the export business there's thanks for watching. each session for spectacular pictures. each their passion for nature. it's their complete devotion. that makes them the best while most photographers in the world. miss meeting them to come out in a. confrontational and stirring. 5 adventures. one goal. the preservation of our climate. is not as an issue of heart and
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trees and certain kind is a more. exhaust system danger of surat. passion for starts november 6th on g.w. . guilty as charged goldman sachs is malaysians of sebree admits train charges of bribery it's possible a record settlement over the money laundering at the nation's state investment is also coming up the world is spending billions to shore up supplies of a possible culprit 19 vaccine will africa be left out. and this is not the time to go on holiday as europe recall it's more than 200000 new infections a day to. regions bracing for
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a tough winter ok. this is due to the business i want to get john's and then to have you with us now it is the 1st criminal settlement in goldman sachs's history as a public company the bank's malaysian subsidiary has pleaded guilty to bribery for its role in a major money laundering scandal at malaysia's state investment fund the guilty plea is part of a $2900000000.00 settlement with u.s. regulators who say goldman played a quote central role in the theft of money from the fund of knowledge ing institutional failures goldman's board of directors has decided to cost pay and bonuses for several executives including this man that is the current c.e.o. david solomon those directly involved in the scandal will also have to pay back millions of dollars prosecutors in malaysia and the u.s. a bond sales organized by goldman sachs and able to associates of former malaysian prime minister. to steal billions of dollars from the one m. d. b.
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fund that was supposed to support malaysia's economic growth. well so how much has this scandal actually damaged goldman sachs's reputation our financial correspondent ends caught with some analysis outside the goldman sachs headquarters in new york in general it's a huge and costly scandal already in july been agreed to pay $2.00 and a half $1000000000.00 to the government of malaysia so now we have another almost $3000000000.00 on top of that interestingly enough the stock actually did trade to the upside on thursday and there's a good reason for that because it was not goldman the parent company pleading guilty but it was their subsidiary from malaysia and that leaves that goldman itself probably gets away was no criminal charges and that is important because that way. goldman will be able still to do business with some big institutional
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clients those clients might not have been allowed to do business with goldman if the parent company actually would have to plead guilty itself so in that regard it is a bit of a relief at least for the parent company goldman sachs. the african export import bank is ready to raise up to $5000000000.00 to purchase covert 19 vaccines for african countries news agency reuters reports the head of the continent's disease control body said africa needs to be proactive in the race to secure vaccines but the problem of africa's health sector. with infrastructure being the biggest challenge. a clinic on the outskirts of kenya fasteners capital like to do to it's the final stop for a vaccine that's traveled from a factory half a world away now it needs to be stored correctly most inoculations are only usable if kept cold and that will be one challenge in delivering
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a future covert $1000.00 vaccine to developing countries. globally the likes of d.h.l. and u.p.s. have ramped up spending on their global cold supply chain but in africa the infrastructure is just not there especially in rural areas which could be lacking electricity altogether. we have problems of storage capacity for vaccine we have a lack of refrigerators. so if you say we have to vaccinate against the coronavirus for example we don't need a lot more refrigerators to keep the vaccines you know. we don't have these fridges . the next challenge is over pricing pressure is building up to make a future vaccine patent free to guarantee its affordability typically pharmaceutical firms enjoy a monopoly on vaccines they produce allowing them to set prices as a result diseases which have long been wiped out in rich regions like europe
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continue to exist elsewhere. and you know. in the past we've seen and continue to see that in poorer countries people are less likely to be inoculated in crisis regions like the d.r. see more people died of mules last year than of ebola and that has to do with the lack of vaccinations flu mentioned. the world health organization hopes to ensure this doesn't happen with covert 19 the new kovacs program was set up to deliver 2000000000 doses of vaccine around the world by the end of next year by investing in numerous faxing candidates it hopes to stir up healthy competition among suppliers over $180.00 countries have joined the initiative including china india and germany. the most important piece is really increasing the number of vaccines that are successful because a healthy market has always been defined by the multiple number of players who are
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in the market in the meantime the people who are urgently waiting for these vaccines hope the developed countries and companies will show some solidarity. with the coronavirus pandemic has said global ad travel down by 92 percent now a swiss not for profit has created a virus testing abit hopes will offer travelers peace of mind. here at newark airport volunteers on united airlines flight from london's heathrow were tested for covert 19 before boarding in the u.k. they uploaded their results at the airport and on arrival in the us showed they tested negative on their smartphones using a new app. it's developers commines project foundation hope the op will get people flying again by providing a convenient way through the international maze of travel bans national rules and different tests it's called common pass and it allows travelers to get tested
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before they travel upload their results to call us and then document that they have actually been tested satisfied what other requirements exist for their countries are traveling to for the purpose of being able to board the flight and tour the country testing is seen by airlines as a way of reassuring passengers and allowing people to get quarantines it helps authorities know that if someone is coming to their country they've actually gotten tested before they travel. or the app is very simple q.r. code name negative test result and that's really it but simple much information. not for profit has completed trials between london new york hong kong and singapore and it's planning to widen the scheme as airlines and passengers alike continue to wait for a vaccine the north american branch of bankrupt online payments for. has
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been sold for an undisclosed sum liquidator has accepted a bit by u.s. based company. why a cot in north america was among the most valuable assets of the defunct german payments company. of whom want to bring in our financial correspondent jessica lange in trying to chelsea what more do we know about that company sinking and its plans for why a car north america. well as you said where current north america was seen as one of the best subsidiaries of the of the wire card family so there was a lot of interest and the in the subsidiary itself it was bought by wire card from citi group back in 2017 and what this business does it is really issue a lot of prepaid credit cards the kind of car you could get from for example a starbucks or a gas station and this is really a booming business right now in part because of the coronavirus many people don't
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want to pay with cash right now so they're increasingly going to these prepaid cards so seem to pay is really trying to build up. some dominance in that area they've gone through a wave of acquisitions recently and this is just the latest for them so why good north america is in good hands so what's happening to the rest of the company all wired heard is very quickly being sold off they've already sold off their their u.k. branch their singapore branch was shut down the romanian branch is also in talks to be sold and what the administrator for the bankruptcy is trying to do is get as much money as he can to be a payback wire cards creditors they have about 3000000000 euros that wire card owes to to its creditors and their assets are only valued at about 500000000 euros so many people are going to be left left out here as that still goes forward the big question is really what's going to happen to the european side of wire cards
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business there is interest with that but we haven't really seen much progress on the sale of the european business chosing to maining from crude thank you. coronavirus cases in europe more than double it in 10 days crossing 200000 daily fictions by now and while authorities try to flatten the curve by urging people to stay at home tourist destinations like on the lucianne spain brace for some very quiet months ahead. here in under people stick together day after day szilvia and many other vices stand in front of this small grocery store collecting food donations to distribute to residents who have lost their livelihoods juda the coronavirus crisis. we started in april with 6 or 7 families now we hope 20 families and the number is rising unfortunately the coastal regions and the lose your thrive on tourism far
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fewer package holiday makers came this summer making the quiet winter months ahead even harder than usual well though this little town has only 40 coronavirus cases the numbers are high in the region only a few foreign residents have returned to their 2nd homes on the costa del sol due to warnings against travelling to spain what they like and then are we depend on german customers and we're sorry to see they can't come here more chill they're not what i am but at that. we have expenses and have to pay back loans but where's the income but obviously lying to us all. to iraq says empty the mayor is doing everything in his power to stop this new situation and protect the village from the consequences of the pandemic. is the thousands of germans who come here all the time. she'll be advised to live as the groceries to spaniards and
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germans alike nancy sizing has been living and working into iraq for 25 years she never thought a day would come that she couldn't support her daughter and herself. i do cleaning work and at the moment with so little tourism there's no work and no money of course and then you can feed yourself anymore the situation is pretty drastic now. but it's going to help despite the economic crisis and the coronavirus these immigrants from germany are staying in torah they hope a vacation as will soon bring jobs back to the coast. about a business update thanks for watching the face of. the for.
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past to silence and. brags it is threatening frank and languages family business like many english sheep farmers business depends on european explorers without a free trade agreement with the e.u. that could soon be over just like the future of farmers in their sheep only time town. you're up. next.
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and on demand. video. thank you. for. your gas. tank. welcome to focus on europe it's great to have your company today the 2nd coronavirus wave has arrived more and more european countries are reporting record numbers of infections and this has led to fresh car fuels lockdowns and national states of emergencies the small country of belgium has one of the highest infection rates in.

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