Canceled around the globe tourism and Hospitality Industries are the 1st to soft power long can hold sales an ally and hold out without state. This is the the new business im proud of has welcomed in a move that surprised analysts and markets the u. S. Federal reserve has announced its biggest Interest Rate cut in a decade the decision comes in response to the danger the coronavirus poses to the American Economy the new rate is down half a percentage point but the movie also reassure wall street which tumbles in the aftermath results in asia on wednesday more makes with slight gains in tokyo and seoul. Now lets check in with our financial correspondent only bonce who is standing by in frankfurt for us only mock reaction seem a bit all over the place. Yes thats right it was a tepid reaction in europe when the decision came. Just reaction really in wall street the market went south in a big way and asia the markets are kind of hovering wondering what to do with this the move was i think calculated to deescalate the worries and said it did not calm but escalated the worries and indeed when Jerome Powell spoke he did sound very worried that gave investors pause for thought of course we dont know what the reaction would have been if the fed had left the markets untended knowing the markets they wouldnt have appreciated that either i mean it really is a shot from the hip isnt it its a deviation from standard fed procedure why why is the. Thats right its a much clearer step than steps before the clearest move since the financial crisis and out of line with regular meetings that was i think Shock Therapy that was what it was aimed to have as an effect theres very little ammunition left in this is part of the reason investors realize this why the move didnt come across as clearly but i think the fed hoping that doing a lot now shocking would. Would allow it to not have to follow it up with a lot more because it doesnt have a lot more but that seems to have backfired live on sinn fein for thank you. But as the Global Economy starts estimates the coronavirus all of them on the shop down prices to opaque experts come together in vienna wednesday to discuss production cuts. The virus has been paralyzing Economic Activity and dragging on growth especially in china for weeks their shops have been closed but Assembly Lines of stopped air transport is also badly affected in many places thousands of flights have been cancelled with no letup in sight Global Oil Consumption highlights the problem as production lines and supply chains growing to a halt demand for crude has fallen sharply. That had an immediate effect on oil prices theyve fallen by 21 percent since the start of the year theyre currently floundering a 2 and a half year lows. Its come as a shock to all producing countries opec member countries are now thinking about throttling output again to try and boost the price and keep the governments revenues flowing. Correction that opec meeting is tomorrow of course with me in the studio is and hes the c. E. O. Of centurion thats a company that advises opec companies opec and all companies how has corona affected the old market thank you for having me corona. Are a market way has been a slowing demand and youre really seeing big issue prices have gone down and lets see do is somewhere around 6 holding our own 60 right now its already at around 50 and youre really seeing the market going crazy with what is going on with the current virus because theres very slowing demand is still in jet fuel demand and so its really really sending the market into crisis right now a big chunk of that slowdown in demand comes from china is it is that the main driver china not needing so much or the moment its one its one of is one of many i mean you have right now a lot of bases around india around europe around the United States that people cannot get together you have a lot of people staying home from from big godfrey and so you going to see a big big if for the decline we just feel. Industrialisation on manufacturing plants so its not just china china is part of it but its going to be big and its great now its even bigger than china and thats what he thats what calls for a global concern on the current virus especially our prices and to our markets what can we expect from you and im eating tomorrow opec is always a great place to be when we did negotiations on the back and forth just happens right now you have these big these big tent with opec plus so its going to if youre going to have. Have to actually be question do we go on e 32500000 cut to really make sure that you stop the lies of market so that consumers and producers can both live with do you are you going to walk in the supply glut that is what is going to happen so you going to see who wants a cut who doesnt want to cut but is big 10 would rushing clude it really gives a chance that consumers can really feel not continue to feel to pinch but also produces can feel that you can stop the lies and grow the market so who will be for production and who will be against it and why it really depends because you know right now you already have a lot of production of the market it under towels and barrels out of libya sent its going to sanctions against venezuela thats a lot of or thats already out of markets or used to be seen how saudi arabia which is one of the biggest produces to get out would russia how do can how how do can come together i think there is right now is a growing dynamic where the russians are really want to push way cut the deal i willing to have to in on i just stop the lights of market and the saudis are always orpen to seem to have an audit discussion most african states are small and some of the normal pick states would have to also share in dipping to make sure that the yes we all stop the lies the market and thank you very much frank you so much very interesting analysis. Us weve heard airlines around the world are under pressure amid attempts to contain the coronavirus many have slashed their flight schedules and growing numbers of passengers are not showing up for their journeys share prices are taking a beating as a result its a shakedown that could take a toll on their Balance Sheets but some say the crisis will separate the wheat from the chaff the. Damage limitation is the order of the day for European Airlines the likes of a france k. L. Lamb and germanys love trans are canceling flights to italy alongside those to asia flights to the u. S. And europe are running a reduced service the head of the irish low cost Airline Ryanair says the virus will help separate the wheat from the strong change in technology it will clearly be called you know bankrupt airlines looking for state aid or bailouts they shouldnt be in facilities because those airlines couldnt make money before called made the virus and they would make money after it either so we would or airlines like Ryanair Easyjet be a air france are strong we will find fly all we through this may be less like the next number of weeks but we dont need government aid to survive perhaps ryan as boss is taking things a little too easy after all his airline doesnt fly to asia and so is far less affected than the competition that could be rest bite on the horizon though the industry hopes the upcoming spring with its warmer temperatures could at least the celebrate the spread of the virus until autumn it would be a Welcome Break for a world worried about the coronavirus. Beijings decision to ban all group travel and stop package tourists from leaving china was hailed as a sensible step to contain the container corona virus but its how much Global Tourism many destinations are relying on chinese visitors these days and especially local hotels and restaurants who specialize in catering for tourists from china are fighting to survive. The fairy tale castle of noise. Normally the various prime to its detraction peacefully aloof visitor numbers have been tumbling steadily since the coronavirus outbreak. Neighboring towns normally host 70000. 00 tourists a year from china over all thats only about 5 percent of the people who visit this area but for those Hotels Restaurants and shops which have specialized in welcoming chinese tour groups the virus has quickly become a real problem. Its effects are selective it hits all the businesses hotels and guesthouses which work closely with the Chinese Market d with Chinese Group tours for instance theyre feeling the loss of revenue very very strongly and it cant be compensated for it all in the short term. Like this restaurant which specially targets chinese travel groups now closed until further notice and this hotel and pub have also shut down for the time being companies tailor made for asian tourists are located here and around the castle they include a range of businesses pottery watches and jewelry made in germany made in switzerland. Fastrack shopping tax free and with a direct connection to asian payment systems. Chinese tourists in this area seem to have absolutely no time on their hands. Or. Cover several countries inside 10 days its clear that sightseeing and shopping are on their agenda when you can combine them both in one location and thats a major time gain on the share deal and a huge advantage. Its still too early to estimate losses this 4 star hotel had a Broad Customer base serving tourists from all over the world less than 15 percent come from china but the increasing number of cases which are appearing in other countries and the mounting number of travel restrictions could become a problem. To have a few cancellations due to the virus hasnt hit is too hard up to this point and were hoping it doesnt continue for any length of time and at some point things will stabilize and get back to normal the high season is only around the corner and everyone here is hoping that the situation will ease by then even if that doesnt look likely right now. Well japan meanwhile is preparing to host the tokyo summer olympics as planned thats what the government top spokesman said there is going speculation the games could be postponed until later in the year because of the coronavirus top u. S. Closely cooperating with the International Olympic committee and remains committed to starting the games on july 24th. And thats it for me and the Business Team here in berlin our web site thats t w dot com slash business and follow us on facebook and twitter for arts and culture with current. They were forced into a nameless mass. Their bodies your tools with. The history of the slave trade is africas history. Just. Before our entropic plummeted an entire continent into chaos and violence. This is the journey back into the history of slavery. I think will truly be making progress when we all accept the history of slavery as all of our history. Our documentary series slavery routes starts march 9th on d w. Hello and welcome to our arts and culture news of the lights the book fair is the latest casualty of the coronavirus scare across europe well have more on the ramifications of a global outbreak for the cultural scene and also coming up. How do top chefs keep coming up with new and exciting ideas problem each one of their secret weapon food scouts. And critically acclaimed electronica artist dance name. A self proclaimed music nerdy type whose new album suddenly tackles the big. The 1st casualties on the cultural front in the wake of the coronavirus outbreak were of course in china cinemas and theaters were quickly shut down there and Film Productions were halted but now is countries here in europe scramble to contain outbreaks the effects on the european art scene are unavoidable and here are some of the high profile cancellations thus far. Then this is almost recognizable past tourists stay away in droves st marks square is almost deserted. See the famous venice