Socalled content monitors. For today they scrub terrifying images from hong line platforms. Risky job for starvation wage. The strain is enormous. And with. An interest pop theres something wall hopping. The cleaners social medias shadow industry starts tonight on t. W. Took to. Could the Worlds Largest economy shrink by a 3rd a top u. S. Banker wont rule it out so was wall street suddenly doing so well for you the latest. Also coming up airlines are on the brink putting millions of jobs in danger for better times ahead well ask an expert. And well go to india where businesses are coming out of a walk down but with a few strings attached. This is your Business Report im stephen theres the in berlin its good to have you with us. The u. S. Economy could shrink by a whopping 30 percent in the Current Quarter and thats according to chairman of the Federal Reserve Jerome Powell in an interview on c. B. S. News a 60 Minutes Program powell said that he expected growth again in the 2nd half of the year but that the economy would only fully recover once a vaccine for the new coronavirus was available he said that for Business Confidence to grow again people needed to feel safe powell also warned that reopening some sectors of the economy too quickly could lead to a 2nd virus surge that that would be a potentially disastrous setback the government had to reintroduce the social distancing measures and that you would have another downturn and that would be bad for confidence. So thats a risk we really want to avoid you know the virus hasnt gone away the reason that cases have gone down or declining is because people have been in their homes and not in their businesses and not out among crowds or right now im joined by yens korda our financial correspondent in new york yes 30 percent shrinking in the Current Quarter that would be historic but if i look at the markets today i see gains help me understand this difference here. Its an unimaginable figure especially if you look where we were just ending in early february where we were in the midst of the longest expansion phase here in the United States was an Unemployment Rate of lower than 3 and a half percent after one baby here comes the next great reason depression reads the sign behind me but actually thats what general powell does not believe yes its grim right now but he believes that the United States at least can prevent a depression but the stock Market Reaction in the past couple of days has been really quite remarkable just on monday blue chips up by more than 900 points one reason for that basically was also the company moderen out with news that the early stage trial of a c. In seems to be successful that stock popped up by at some point around 30 percent so this market all saw traits on hope to soon find a cure or if theres even better of deceit all right so a lot of optimism about the vaccine process in general there and you get the sense that american businesses and maybe even policymakers believe that the worst is now behind them. Thats the general sentiment and thats also the reason why the market is trading up quite a bit and Everybody Knows that even in the next couple of weeks we will get pretty bad Economic News Everybody Knows that the 2nd quarter we are in right now will be quite catastrophic but the belief at least is that yes the worst is behind us those are the worst figures were going to see. The crisis what nobody is really trading on at that point or believing that we might get a 2nd wave of the virus if that should happen then all bets are off but the general feeling is the country is slowly opening up i can see it here on the streets in brooklyn more traffic more shops opening and so there is this overall sentiment as bad as it is right now it might look better in a couple of weeks or months. Thank you very much. Delta Airlines Says it will begin flying some major routes again in june a welcome announcements for its employees and one that follows similar plans from ryan air and air france to reboot their operations of a pandemic and the travel bans that have gone with that have pushed the Airline Industry to the brink stakes for restart are high but expectations should not be. Grounded this could be any airport around the globe passenger flights are down by up to 90 percent since the coronavirus pandemic struck and stopped travel in its tracks airlines are facing billions of euros in losses and need to lower costs that means layoffs the International Air transport Association Estimates that millions of air travel related jobs are tourists in europe alone spain could be worst hit at 750000. 00 jobs that include suppliers ranging from Shuttle Services to caterers the country depends on tourism in britain over 400000. 00 jobs in the sector our trysts its a similar picture in germany france and italy which could also see hundreds of thousands of job losses we are not expecting for example the levels of traffic to reach the levels of 2009 until 2023 so its a very long quarter of the travel sectors was out also being felt in other industries suppliers like engine makers including the u. K. s rolls royce and european plane maker have us say theyre bleeding cash and considering massive cuts to their workforces so thousands could lose their jobs. Or lets take a look now at some of the other business stories making headlines. Ober will slash 3000. 00 more jobs as it navigates a path out of the pandemic roger platform had already announced it would strike 3700. 00 positions together the cuts amount to a quarter of the companys workforce but they dont apply to drivers who are considered employees. Qual way has warned that its survival is at stake after the u. S. Government announced stricter measures to cut the Chinese Company off from Global Semiconductor supplies washington is changing its rules so that any chip maker intending to Sell Semiconductors to huawei will have to apply for an extra license. And to play japan has plunged into recession as the 2nd biggest economy has reported a 3. 4 percent drop in Gross Domestic Product in the 1st 3 months of this year and tokyo has come up with a rescue package worth nearly one trillion dollars to help cushion the blow of the corona Virus Outbreak but the numbers are likely to get worse before they get better the corona Virus Outbreak has brought business and consumer activity to a screeching halt in japan the countrys lock down measures have weighed heavily on exports and Consumer Spending following g. D. P. Contractions in the past 2 quarters the full force of the pandemic is expected to hit the japanese economy and the Current Quarter economists are forecasting a drop of more than 20 percent that would be its worst performance since world war 2. Japan relies heavily on trade with china and the u. S. Which have been hit hard by the fallout from the virus the government is doing what it can to reassure citizens amid the covert 19 outbreak. The number of infected people nationwide has settled down considerably compared to last month. We will continue to make an effort to contain the spread of the virus and while listening to expert advice we also need to install our daily lives in stages gradually increasing the level of social economic activity. The government is expected to increase its current stimulus measures of nearly a trillion dollars to jumpstart the economy its also likely to lift the state of emergency in the next 2 weeks as life in japan gradually returns to normal. And staying in asia with a population of 1300000000 people india has the Worlds Largest lockdown in place and it was just extended until the end of the month and the 1st businesses and factories are opening again however with new protective measures in place take a look. Mobile phone assembly has started up again in la the International Spac tree on the outskirts of delhi it was shut down completely for 6 weeks now production is under way with reduced staff who have to maintain a safe distance from one another recording all down the road ill put it in good order. Now weve got it all going to get remarkably. Well before. I dont fix the problem again now we have really gone from being told unfortunately. Every employees temperature is checked with regular thermal screening hands and surfaces are disinfected frequently. And social distancing is also practiced in the lunch room and at the dining table 1 may have had one of the people fear that the coronavirus has not left india or for that matter the world on anything but we cant just stop working if we dont earn then what will we eat is not going to go we need to come to the office and work within the official social distancing guidelines that have been provided a little good and that even. Though its a relatively Small Company lava has become something of a poster child for Prime Minister Narendra Modis ambitious effort to make india a global hub for Electronics Manufacturing indias already the worlds 2nd biggest mobile phone maker and its determined not to let a virus stop it. A japanese tech giant softbank posted a record 9000000000. 00 loss for the fiscal year through march after its tech investment soured by the collapse of Office Sharing venture we work had already had the firm hard then came the coronavirus pandemic saw thanks 100000000000. 00 vision fine was supposed to identify tech going to corns that is startups valued at more than 1000000000. 00 but its now under water. And just to drive home the peril facing those startups softening c. E. O. Masayoshi song provided that animation of unicorns falling into a valley of the crown of ours look. Assesses nikolai on the bottle there however i believe among them there will be true unicorns with wings that fly over the valley. Only a nickel mud i believe we will see the birth of flying unicorns and the time of crisis. When theyre with us and there you have it and thats it for me and the Business Team here in berlin you can find out more about these and other business stories online at the dot com slash business and to check us out on Facebook Twitter im saving theres a thats watching. The virus has become part of the system. Is the world on the brink of a major transition some believe globalization is coming to an end while others think we should keep going full speed ahead of future for as long as we can. Is it time for a clean. Future scenarios for the economy and society for 3000. Targeted for preservation. Businessman bill pabst owns a large profit wildlife park in zimbabwe he organizes sustainable hunting tourism there are other Animal Protection activists in zimbabwe say hunting should not be allowed the danger of abuse is too great how trophy hunting can save species close on. 60 minutes off d w. One the risers cities will sink into the sea. Entire stretches of liable to be abandoned. When the water strives. To stop its happening faster than anticipated. Massive great players are supposed to prevent flooding but they only delay going to the. How will we live in the future. 66 may lies in the sea levels starts to fit on g. W. Welcome to global 3000. Trash in t. N. I. Del fuego Plastic Waste is in danger in wild life at the southern tip of argentina. The cannabis business
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