Discover. Subscribe to the documentary on. The. Market losses continue as fears balanced over the coronavirus wall street suffers a 6 day of sell offs with more businesses curbing their operations and lowering earnings forecast will bring you up to speed. Also on the show china is trying to get business back up and running with krone case members still rising it has a ways to go. And the u. K. Puts on its poker face for next weeks trade negotiations with the e. U. Brussels call it a bluff. This is your. Business report im Stephen Beard is in berlin thanks for joining us u. S. Markets fell for the 6th straight day on thursday as Major Companies continue to curve their operations and slash earnings projections as a result of the spreading coronavirus best p. 500. 00 tech heavy nasdaq index is each lost more than 4 Percent Crude Oil prices continued slide falling more than 2 percent to 52. 00 a barrel analysts at Goldman Sachs have even projected the u. S. Businesses could see no Earnings Growth in 2020 if the virus continues to spread. And lets go to our financial correspondent in new york yes quarter for more on this yes weve been talking about these losses for a few days now they seem to be getting worse can you put this in perspective for us how big are these losses its quite massive what were seeing into especially in the last hour of trading here we saw pressure even increasing chips and losing almost 1200 points down by almost 4 and a half percent and this week alone so far we lost more than 3000 points in the Dow Jones Industrial average we havent seen such a week since the financial crisis of 2008 to almost every day on almost every day we get more and more companies lowering their forecast through the corona virus then for the 1st time so far some investors are even talking about panic setting in here on wall street. Panic potentially setting and im guessing that means that a floor to this is not visible yet. Well its possible every time that we might see a little rebound after those heavy losses but a lot of the questions will not be answered any time soon the best would be if we would find a cure against the corona virus if thats going to happen nobody can tell at this point and you mentioned the prognosis from Goldman Sachs that there wont be any Profit Growth for the s. And p. 500. 00 companies this year im not quite sure. If it really makes sense to come out with such programs as that this point but what will matter is if the consumer actually is going to keep spending money the u. S. Is a country that does not live from trade but mostly from consumption as all that will be one of the keys if we can stop the bleeding here on wall street. All right yes quarter keeping an eye on things in new york for us thank you. China is meanwhile reporting a rise in new cases of the coronavirus and that puts a damper on talks of a gradual return to business as usual factory shutdowns have been widespread quarantine measures but some are reopening and container ports are starting to loosen a huge backlog of cargo the shopping district of 101 month into the Coronavirus Crisis some of the shops will probably be out of business for good. Experts believe that many of chinas small and medium sized businesses wont survive the corona epidemic. Its a heavy blow for around 80 percent of Chinese Workers who depend on such companies for employment the meaning of how far into. Fatah the government is taking action in the hopes of saving those jumps each year paid prime. The state councils executive meeting has decided on a temporary extension of loan repayments and on raising preferential loans. Good arrangements have also been made to increase support for home based companies. Should you choose. To hobble for with a small and medium sized firms as well as own businesses in who bait wont have to pay employees contributions for social benefits from now through june taxes electricity and gas rates have been lowered the state is also unlikely to help pay many workers salaries those infected with the coronavirus or under official quarantine and so far continue to receive their pay thats an item that Small Businesses in particular cannot afford for a long. And lets go back to europe now where britain and the e. U. Are putting on their poker faces with post brags that trade negotiations set to Begin Next Week heres a look at both sides stances now the e. U. Is offering a comprehensive Free Trade Agreement with 0 tariffs and 0 trade quotas but brussels has set some conditions on agreements 1st among them that British Companies comply with the e. U. Standards on Occupational Safety or environment for example the u. K. Rejects that very premises with london saying it left the e. U. To escape such regulations theres also a big dispute over this fish the e. U. Wants to maintain its fishing quotas and british waters the u. K. On the other hand wants to decide for itself who is allowed to fish in its waters but brussels says access to the e. U. Financial market which is critical for londons big financial firm. Were only be open to britain if all other issues are resolved 1st the u. K. Wants unrestricted access to the continents and it also wants that each element of a deal in a go she did separately from the others because its better to have no deal than to compromise thats the message coming out of london at the end of the transition period on the 31st of december the United Kingdom will fully recover its economic and political independence we want the best possible trading relationship with the e. U. But in pursuit of a deal we will not trade away our sovereignty sovereignty britain wants to make decisions without being forced to abide by e. U. Regulations one of the main arguments of braggs its supporters but brussels insists that there will only be a Free Trade Agreement if britain continues to comply with european standards in the future we want competition to defeat europe but most to be fair fair and treat free and fair the e. U. Is demanding that Worker Protection environmental regulations and tax planning meet e. U. Standards british Prime Minister Boris Johnson says thats absurd the whole objective of doing what were doing is the u. K. Can do things differently and better well were not going to engage in some race to the bottom we can maintain the very highest standards we want is you know mutual recognition of each others high standards and access to each others markets. If theres no agreement by june britain is threatening to cancel on the go she asians and brussels has also signaled that its prepared if the 2 sides failed to seal the deal. Now to some of the other business stories making headlines. Air france says its cutting 1500 jobs mostly ground staff by late 2022 the carrier is also slashing costs to offset the impact of the corona Virus Outbreak air france is one of Many Airlines that have suspended flights to china. A u. K. Court has blocked plans for a 3rd runway at Londons Heathrow airport as a landmark fix for environmental campaigners ruling could sink the 18000000000. 00 project which aims to make europes Busiest Airport even bigger the court said the plan didnt take into account the Paris Agreement on climate change. Chinese telecoms giant huawei is planning to build its 1st european 5 g. Manufacturing plant in france the worlds biggest maker of telecoms here wants to soothe fears that beijing could use its equipment for spying while way chairman young quasi said the mobile base station plans will create 500. 00 jobs. And after link the process to find the right suit or germanys ailing steel and industrial giant to send troops as finally sold its profitable Elevator Division for 1000000000. 00 the buyer is an Investment Consortium led by advents and sin vin and the op with davi investment authority. Now urban farms are sprouting up across major cities around the world they found a clever neech supplying sustainability minded restaurants while highlighting efficient Ultra Compact farming techniques entrepreneurs in brussels now have their own take on the idea there are growing mushrooms using grain from the countrys famous breweries. A belgian beer in mushroom form. On the right side you have an army corps production urban farming entrepreneurs in brussels growing fungus in the city center in a film a slaughterhouse. Orange and also very gloomy so use it in these are so purchased a nice press preparation so many so they were already sustainably growing micro greens and had heard a rumor. We had heard that spend grain from beer could be used as to Grow Mushrooms but we didnt know if it was really true or if it was just something that worked a bit so we tried 1st in small quantities then bigger and bigger and then we found out that it worked really well actually used grain from belgiums famous breweries is a nutritious basis from which to Grow Mushrooms the grain would otherwise go to waste. The company shop in your to brew sell supplies local shops and restaurants by bike its an example of a locally connected sustainable urban business. And speaking of beers the coronavirus appears to be hurting one of the worlds most popular beers some people are confusing the mexican beer corona with a new disease theres been a massive increase in online searches for the terms corona beer and virus according to data from you gov the socalled purchase intent for the beer of young adults in the u. S. Has plunged to its lowest in 2 years the damage has worsened in recent days as infections spread shares of corona brewer consolation brands over 8 percent this week in new york. And thats it for me and the Business Team here in berlin as always we wish you a good evening and thank you for watching. Tonight run dry. No. Water is very big business and its getting worse gas. What do we have to do not to end up high and dry. Do we have to rethink the wars the industry. Made in germany. Next to w. Egocentric of. The South African same club better environment. 2 men are taking on a new approach to Waste Recycling players garbage was polluting their community but nowadays to do all have become recycling experts and their planning of the great future of. Folks. The 1st. 60 minutes on d w. I think is everything challenging 1st on how to make a muslim. School much different culture between here and there still challenging for him to. Lead. To some of the same i think it was worth it for me to come to germany. Got my license to work as a swimming instructor. And now our 2 children 100. 00 anstice one of the toughest. Whats your story take part charity on info migrants dot next. To me. The worlds most important resource a given for many regions but experts warn 2 thirds of the global population could face water shortages in the next 5 years like so often in life you only notice something when it starts becoming scarce. And by that time its often
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