Who want to do yours today how for their future. D. W. Dot com africa make a suit against the king to give him some clues to. Invest as a left shaken not once again as the true impact of the coronavirus becomes increasingly clear one of the worlds most valuable companies outpolled warns profits will fall short of forecasts thanks to the outbreak. And this is getting longer Cayman Islands is the latest territory to be officially designated a tax haven by the new. Threats it bites into the news budget promise food with brussels not 10 leads them stopped of subsidies. This is due to be a business on robots in berlin welcome along. Were seeing the shops and the close fact trace but the Financial Impact of the coronavirus is only now becoming clear firms are starting to count up the costs of the disruption to their supply chains by problems in china apple is among the 1st to say that the thing is not looking good. Shopping malls and Stores Closed across the country city streets empty as millions remain confined to their homes. Factories shot a reopening at a snails pace none of this is good news for apple the worlds most valuable tech Company Makes i phones of various sites across china and also sells millions of them at stores around the country the profit warning underlines just how serious the corona Virus Outbreak is for a business like apple which is heavily reliant on its supply chains in china as well as its Strong Customer base there apple had already been facing challenges in china before the outbreak in 2019 the company made sales of 44000000000. 00 in the country a fall of 12 percent from 2018 and the relative value of the Chinese Market for uppal has been declining in recent years in 2015 the country accounted for 25 percent of apples total revenue dunn has fallen steadily last years figure accounted for just 17 percent. If it is not contained the corona Virus Outbreak could dramatically increase apples difficulties the company has already said that worldwide i phone supply will be temporarily constrained due to their bric. A lets get more on this from a correspondent jose luis a heroine who joins us from wall street. So how is apple buffering itself against this expected downturn. In the short term mainly muddling through with low levels of capacity available in china their main goal what do you say a point for the company is a to make sure there is not a significant sort of its products to consumers we can also see some changes the new products are rumored to be a scuttle to launch in the coming spring like a new version of a low cost but in the medium long term the current experience of my forest aapl to why alternative countries had to build up its mine factory in camp abilities decades of indonesia brazil or even india but all these changes are need some time and planning so investors at this point hope activity can go back to normal in the coming weeks or. Also for recovery in the coming quarters now apple is often seen as a bellwether for companies that have got big sort of International Networks what do we expect from other firms given what happened is have to say. When it comes to Consumer Electronics mainly look for high Quality Manufacturing alternatives ells were outside of china which is not easy also there could be a major demand for outer mayhew now robotics to replace low cost workers but some of these are measured who take time it depends also on the industry for example toys they can be rearranged to be manufacturer in mexico or clothing and in canada singapore colombia or brazil are some of the alternative supplier countries that could take the lead when it comes to the top products imported from china. I would say thanks for joining us jose luis to harrow in new york. Now while Many Airlines struggle with the fallout from the corona Virus Outbreak private jet operators have seen a spike in requests from passengers who want to charter planes although they can be priced at up to 6000 euros an hour private jets are proving more and more popular so much so that are available aircraft and crew are actually growing scarce big operators like my jet asia and vista jet say inquiries over the past month have nearly double. Now the e. U. Black list of tax havens is getting longer brussels says there are now 12 countries helping tax evaders conceal assets from the authorities along alongside older entries like oman and samoa there are 4 new additions see them here forgot seychelles palau panama and the Cayman Islands now the Cayman Islands is an interesting case in itself because it is the 1st british overseas territory to be blacklisted. Tax havens of the chance to hide money easily and quickly in cities like foundations or companies that only exist on paper for straw man or woman function as the titular owners hiding the real owners everything is top secret until in 2017 the Panama Papers exposed it all to the bright light of day giving the public an idea of the scale of the problem celebrities like soccer star lionel messi or icelands Prime Minister sigmund or david soon were among those exposed away with outrage followed and politicians promise to get tough. The e. U. Says the mere threat of a blacklisting was enough to put mines to work. We shall see this least in cottage Countries Worldwide to improve government standards and strengthens the fight against the tax abuse to date systems to focus on 3 still being examined and most of them not comply it was a Good Government standards report from countries like the Cayman Islands that is until now british influence is shielded its overseas territory brigs it has changed that blacklisting the kerryman is being interpreted as an e. U. Warning there are fears that following brags that britain could become a gigantic turks even on europes doorstep the city of london already office several advantages in this respect in the caymans the only turks are even being protected by britain. Now for a quick look at some of the other business stories making news europes biggest bank has announced it will be cutting around 15 percent of its Global Workforce h. S. B. C. s interim head set the tone for the next 3 years around 35000. 00 jobs are likely to be slashed worldwide nearly all of the banking giants profits come from asia where the u. S. China trade war and new coronavirus have raised uncertainty levels. The United States has blacklisted a subsidiary of rosneft the Trump Administration accuses the russian oil giant of propping up the Venezuelan Oil sector and the daunting sanctions as part of an attempt by the United States to cut off a major source of income to president Nicolas Maduro his regime in the country. Sticking with oil a court in the hague is up held an appeal by shareholders of the Defunct Company you cost boosting their claims to as much as 50000000000. 00 of compensation the russian for bankruptcy nearly 14 years ago leaving investors in the lurch russias government is therefore likely to have to shoulder any payout. Now the boy scouts of america are filing for bankruptcy protection as the 110 year Old Organization seeks to compensate victims of sexual abuse stouts are facing claims from several 1000 men who were molested decades ago recent changes to the law has allowed the case to move forward on a list say the scouts presence across 50 states makes this one of the biggest and most complex bankruptcies ever seen. Now brack said has opened a u. K. Size hole in the us budget making spending cuts almost inevitable 1st on the chopping block subsidies like those paid out to farmers hundreds of them are taking to the streets now to tell brussels they cant do without the help. Most days these forklifts carry heavy bales of hay to day political messages pleading for help from vegetable and tobacco farmers fighting for dignity in spain food prices have remained low for decades low production costs have gone up farms have shut down and farmers are asking their political leaders to step in. There are more 3. 00 or no we have been charging the same prices for products for 30 years and we cant go on like this enough is enough with tobacco 30 years ago we earned 3 year olds 40 per kilo and now its down to to 30 yards or more on the low road when. No doubt brussels will hear the farmer swartzs but still there are subsidies might get cut after all agriculture contributed only 1 point one percent to the blocks Gross Domestic Product while subsidies to the sector account for 38 percent of spending in france protests have started november and never really stopped. To schools all we know is that unfortunately if you look at the prices was sell our products for we need those subsidies to survive right now thats the only thing we know for certain. Ahead of thursdays e. U. Summit leaders are divided over the size of the budget and Spending Priorities the farmers are doing all they can to help them make up their minds. And finally in a surprise announcement the worlds richest man has said hell be spending 10000000000. 00 of his own money to help fight Climate Change in a post on histograms i was and founder jeff bezos said this summer hell start funding scientists activists and nonprofit organizations amazon has come under fire in the past for its own climate record the september base as promised the Worlds Largest online retailer will be Carbon Neutral by 20. 3 yes. And thats all from us here in berlin for me and the Business Team thanks for joining us you can check us out on our web site did we dot com slash business or us on facebook and twitter. A sustainable closed loop economy. Traditional t. V. Production consumes vast quantities of morning. Now pressed sugarcane is meaningless to drive the leaves. Turning the news waste into a valuable commodity. 3000. 00 and. 60 minutes on d w. 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