Economically is increasing to. A German Company taking measures to shore up business as its china heavy supply chain remains affected by the us. This is the business as in berlin Welcome Global stock markets are starting the week with phenomenal losses they are reacting to a 30 percent drop in the value of crude oil since friday driven by saudi arabias decision to slash its prices germanys leading stock index the dax tumbled more than 7 percent of its open in japan the nikkei lost more than 5 percent during monday trading stocks in south korea shanghai and hong kong all slid by more than 3 percent australia even bigger losses with more than 7 percent wiped off stocks a saudi arabia perhaps in the biggest impact on its equity market shares in. Down 10 percent at the start of trading. Now for a quick look at european markets lets go to. France with. Europe taking the whole thing. European markets are taking this very hard the dax is down almost 9 percent and earlier its parent losses a little better but this is still certainly one of the most dramatic days for european markets and in recent history and vespers had really already been on edge coming into this week because of the spread of coronavirus and the economic fallout measures to contain the virus that were seeing and this oil price disruption and the big shock in the market is not really what anybody wanted to see right now its going to add more pressure on to the Global Economy so i think theres really just a lot of uncertainty and a lot of a lot of panic about what the Global Economic impact will be. Through do as we truly does the Oil Price Drop out of today. Wheres the. I think the coronavirus is still really front and center its definitely. The bigger potential risk to for the Global Economy. If you think about just how widely spread the virus has been spreading and really profound Economic Impacts that thats going to have for example over the weekend we moved to quarantine almost 17000000 people and its a Big Industrial heartland thats going to really just scrap the business and consumers and that entire region and a lot of countries where coronaviruses really spreading right now are already very weak starting on the verge of recession clipping italy but also germany japan there are. Really teetering on the on the edge of recession this could push a lot of a lot of them over the edge. But then if you do. The Oil Price Drop into this thats also just another layer of risk for the Global Economic outlook and normal times. Lower oil prices would have more of a next effect on the Global Economy it would help consumers they would help a lot of a lot of businesses that consume more oil but at this point theres just no demand for oil and this is going to have a really difficult impact on Oil Exporters shows a demand in frankfurts thank you. Now that sliding all prizes we mentioned came after opec countries meeting with russia fail to agree a production cuts counteracting the effect of the core of our us outbreak the cost of crude hers foreigners weve heard 30 percent since then and heres how about or unfolded. This smiles betrayed an overriding disappointment last weeks meeting between opec representatives and russia was supposed to end with a deal to cut Oil Production in response to plummeting demand. And very few. The answer from frustrated opec leaders was no the russians saying they would not be lowering their output. Over the weekend saudi frustration boiled over with riyadh announcing its biggest oil price cut for 2 decades far from slashing production the saudis are now ramping up output from their fields to make up for lost revenues from already tumbling prices. But flooding the market with cheap crude has had the effect of driving down prices globally in a asian trading on monday they hit me a 16 year low. Can the 1st equity markets to begin the week posted extraordinary losses australias finance minister tried to reassure australians the economy was still strong after stocks in sydney tumbled us there was the same story on markets across asia what started with an attempt by Oil Producers to respond to the economic shock of coronavirus has ended with oil in equity in freefall because it 19 outbreak has just registered another symptom. And over in italy corona virus has sparked a real crisis the country is currently the worst hit by the infection next to china and the worst affected areas are the. Strongest northern regions like lombardi and sastre role. As the economy could lose 3 percent in the 1st half of this year alone. Romes Piazza Navona is normally overrun with tourists but right now its almost empty the piazzas hotels and restaurants wait in vain for guests but most of cancel their trips the situation is no different in venice and many other tourist regions inside only a few days the tourist sectors completely collapsed its vital to italy generating 12 percent of gross domestic product. The rest of the economy is also reeling sector after sector reporting cancelled contracts and profit slumps. The government launched an immediate aid package. The council of ministers has adopted several measures in particular we set aside 7500000000 euros to support families and businesses that are facing this emergency which as we have said is not only a Health Emergency but also an economic emergency. Italys economy was shaky even before the coronavirus arrived last year it grew a poultry point 2 percent making it a used tail light and listener say theres worse to come. A little earlier i spoke to mikhail a get out hes an economist and former undersecretary of state at the Italian Ministry ministry of Economic Development and i asked him whether he thought the ito in government was undertaking the correct measures. I dont think so i think they are they i think they failed to understand a thing or the end of the. Ferry and understandably when you dont have a full information you tried to chase the problem or rather then that anticipated this solution and so they have been on a mode that basically trying to you know stock you know just like when you have a faulty problem and shoot it instead of stopping the work or for coming in you try to pack it here and there in even the this and b. Dont know package it is a is a good thing it is way way below what is needed were looking at in excess of 40000000000 euros of losses already in the next a few months. They need to do everything at the same time because the situation of the experts tell us that the only way to stop we were is quarantine and where and then need to be 100 percent they cannot be done and we took the leap to it doesnt work people move around and it becomes you know effective for killing a russian speaking. The coronavirus has almost paralyzed large areas of the Global Economy and the German Economy is not to be you Many Companies here rely on complex International Supply chains with and with china on virtual standstill business has to move quickly we took a look at it pops the Global Market leader in electric motors and fabs for. Production is still running smoothly e. B. M. Pops in southern germany. One of the worlds leading producers of fans and electric motors it supplies companies around the world and sources many of its components from china thats why its formed a task force which meets several times a week to monitor chinese production and supply chains pat says theres been no bottleneck so far. As the feeling of Risk Management high priority and we dont put all our eggs in one basket if one topples over theyll be another one somewhere that takes its place on the list alternative suppliers are decisive now still the company can do entirely without china but ports in china are clogged up air freight is available but its expensive that were not going in and even if the unpleasant side effect is that costs are exploding where we used to pay 1. 00 euro a kilo base rate now weve reached 10. 00 to 20. 00 euros a kilo as that we get. Was higher costs more effort e. B. M. Pops Storage Facilities are full and theyre set to grow the company is stocking up on supplies to cover a 12. 00 week period besides china italy is now under scrutiny. Yes into english but i have known some if we were in touch with our suppliers and were bringing their advance production here that way we can secure supplies for our plants in germany by the n. C. F. Assaulting could say 50 also tops the agenda in germany with employees undergoing a cultural shift even when we greet each other we dont shake hands anymore in a fight. Truck drivers on the italy run are given protective clothing the fears are not unreasonable germanys Electrical Industry association is gauging the costs of the coronavirus to the sector in china alone in the wide net respect were looking at deliveries under threat right now worth half a 1000000000 to a 1000000000 in advance payments the coronavirus has been testing the economy for over a month highlighting how vulnerable supply chains have become metaphors they commit to long term shocks like that offer us a chance to ask if we should reposition our value added chains and production lines more locally thank you not easy you know to your credit but we dont want knee jerk reactions for they could threaten the enormous gains in efficiency weve been able to make in the past and give you know its a forgone hybrid of thats the. One thing is certain that that maker e. B. M. Pops and many of the German Companies the coronavirus will weigh on the bottom line just how heavily is still not clear. And thats it for me in the business scene here much more Business News on our web site thats to slash business and to follow us on facebook and twitter for us a lot of them stay tuned to the w. Heres a quick update on Global Markets this very minute. Happiness fears for everyone schuman penises are very different from primates you know we have many totally ridiculous messiahs view of nature david and this is Climate Change crisis sex how to improve books you get smarter for free looks on. Not all think. Well i guess sometimes i am but i stand up and whimper that. Thinks deep into the german culture of looking at the stereotypes aquatics that is think the future of the country that i now long time. Needed to be taken as groundhog day out to me its all about. Nothing i might joke to join me for meet the gentleman from d. W. Post. Such. This week unboiled stories. The search for a challenger to trump in the u. S. Colombias fight against sex tourism. But we begin in turkey thousands of refugees arrive at the greek border carrying false hopes they want to enter the e. U. But europe is. Using it stores an increasing border security. The sign at the greek border says well come on but thats just not the case. A chaotic makeshift camp has sprung up open to the elements people try to stay warm lighting fires and dense smoke drifts through the air sometimes its tear gas fired by the greek police. Feared us and his family said to little further away 5 years ago he fled from the syrian city of homs to turkey its here where he met his wife and its here where their daughter was born now theyre on the road again a but. We heard on the news that the borders to europe are being open in the. Set of immediately by a bus and taxi from ismay