What should be done with the stone or from africa. This is being hotly debated on both continents the stolen soul starts september 7th on g. W. In. The u. S. And china want to talk trade again high level talks aimed at strengthening the core ordination of economic policies later today and we get the latest from our financial correspondent in frankfurt also coming up india is in the grip of the coronavirus pandemic the Health Crisis also lays bare the countrys economic inequalities call life to delhi. And if you want to escape todays harsh realities and feel like youre living in the past well theres a free market just for you. Welcome to your business i want to jones and berlin good to have you with us the u. S. And china have resumed trade talks a day after president suggested breaking off economic relations with the chinese following a phone call between the white house and washington or beijing both sides said they were seeing progress despite the tensions the u. S. And china say they plan to stick to their preliminary trading agreement reached in january in an attempt to end their trade war. Mixed messages there certainly since yesterday for more lets bring in our Financial Market correspondent Chelsea Elaine and frankly chelsea yesterday we were there donald trump wants to decouple the u. S. Economy from china now both sides want to resume trade talks again what do you make of that. Well for anybody whos been following its trade negotiations for the past 4 years this is pretty classic donald trump he makes these big brash claims he threatens to cut all ties with china but then logic does tend to prevail for trump peace and a bit of a difficult spot hes going into an election he needs to position himself as very tough on china and china has not lived up to the commitments that made and january to export to import about 200000000000. 00 worth of u. S. Goods over the next 2 years thats in part because trade has obviously slowed down because of a pandemic they just dont need as much but for the economy is very important he needs a win with china and thats really driving this desire to resume trade talks so that the he can sort of boast that they are increasing these imports so if theyre talking again do you think were seeing a face to deal signed to before the end of the year i think if these 2 deal is going to be very difficult this phase one deals really just a warm up phase 2 was expected to include the really difficult thorny issues things like chinas subsidies for state owned industries and intellectual property theft things like that so that would those those issues are very difficult to negotiate it would take a much longer time and right now they really are just trying to make sure that the phase one deal is up and running so i think phase 2 is still quite a long way off too ambitious instead we take a little baby steps perhaps Jesse Delaney and from food thank you. Well to india now with the number of new Coronavirus Infections has passed the 3000000 mark indias west hit country in asia and 3rd only behind the United States and brazil in terms of number of cases though the virus is now spreading from cities like mumbai delhi and chennai into the sub continents rural areas hitting those who already struggle to make ends meet in fact the state bank of india feel as the economic fallout from the pandemic is causing more harm than good 19 itself until late march i was working 8 hour shifts at a plant in western india making boxes for chocolates he earned 146 euros a month but then his factory was closed under the nationwide lockdown the government hoped would control the pandemic now the 20 year old is back home with his parents in a small northern Indian Village meaning all that old boy my parents have sacrificed a lot since my childhood theyve been making sacrifices and are still sacrificing their lives and now when the time came for me to do something for them in return the lockdown happened to them and everything went haywire. Theyre still sacrificing as i have been sitting at home for so many days sitting idle and living off of them in their company. Every day he hangs around with friends in the muddy courtyard they jokingly call their office. The joel harlow Nehru University in delhi says rising unemployment will force at least 100000000 indians below the poverty line. Besides covert 19 malnutrition hunger and other illnesses are also on the rise. More people are turning to alcohol and drugs during the economic downturn some even feel driven to suicide. Given that do you think Unemployment Rate with 70 percent going into the crises and the future of these you that my duty to take reality is its very bleak oh no were heading into a very serious problem. Bank of india economist calculated that the economic fallout of the lockdown causes more harm and deaths than the actual coronavirus itself. From the lock down means his dream of building a little recycling factory one day with the money hes made hes on hold but it least he has the support of his family during these awfully grim times. Of pandemic has also had a big impact of course on other economies the German Economy and thats what they just figures suggest shrank by almost 10 percent in the 2nd quarter and one of the biggest casualties of the coronavirus pandemic certainly has been our confidence in Global Supply chains more companies here in germany want to end their risk of dependence on those supply chains but is that even possible and how possible are the german governments current plans for securing such supply chains. Since the beginning of the corona virus pandemic market being clear has been in constant stress will components like this fan even arrive asking such questions is being closed job the only spheres production disruptions. Endemic has definitely had an impact on our supply chain some of the lockdowns continue to this day and if we see that a supplier in india cant deliver we can turn to another supplier in china that way we can continue operating is. One of we have been. The company. Hes based in southern germany and manufactures data storage devices which store data on magnetic tape. The components originate from hungary india the philippines but mostly from china. Based on our experience in recent months well have to reassess our Supplier Risk management taking into account the influences we have seen recently. Inevitably it means well have to rely more on suppliers in europe. Think this company is investing in slovakia next year this factory will be delivering one of the main components that currently comes from china. What we call us on that is a continuous. Journey on automatic sation and digitalization off of our. Business if we are focusing on that with ultimate sation then maybe there will be a few workplaces left right now but the remaining ones will be so much more secure Going Forward that is a part of continuously making sure that we are competitive in a european context. The German Company will still be ordering components from asia in the future thats because European Companies are not capable of delivering at the same price as their chinese rivals thats via its new building for the moment the majority of the components come from asia its a big issue at the moment south korea china thailand and japan do a lot of manufacturing it can only work on a limited basis were not saying that we wont buy anything from asia anymore its. On. Up to now they have acquired 80 percent of their data storage components from asia but the Company Wants to reduce that number to 40 percent and that means fewer headaches trying to get the needed parts during the pandemic. And on to some of the other Global Business stories making the news. Leading car makers including ford tesla urging u. S. Regulators to take further action against qualcomm over its practices a micro chip maker requires its customers to sign peytons license agreements before it will sell to them the practice has been criticized as anti competitive. Facebook has agreed to pay more than 100000000. 00 euros in back taxes to france it covers money made in the country between 20092018 facebook also says it will pay over 8000000. 00 euros in income tax france is pushing for an International Tax on major tech companies. Quander says it will cut a further 2 and a half 1000 jobs on top of the 6000. 00 redundancies its already making the news comes just days after the Australian Flag carrier posted a huge financial loss 200 of its planes are grounded and its not expected to resume International Flights until the middle of next year at the earliest. Fluorite time for a little bit of escapism now from london memorabilia to classic cars a huge flea market in russia is bringing together thousands of artifacts many from the soviet era visitors come to buy or just to relive a little off the past. Memories of a bygone era can be found at the living history retro market in the village of our congo school west of moscow this is the 1st market of its kind in the region from metals to badges soviet id documents and military uniforms some of the items on sale here are very turbulent eeks others are trinkets imbued with the spirit of soviet history. The star ship the everything here is more than 30 years old that is we try to keep things within the era of the soviet union and that means you can find here things that cost 10 rubles and things that cost a 1000000 bucks is in new york. Philly and markets are common in russia. What makes this one stand is the automobile section the classic car section of the market which includes western models has been running for 2 months during which time the whole 3 cars have been sold in 1981 mercedes the soviet made lot of them are a fun under soviet era s. U. V. The living history retro markets are set to continue through september if the good weather holds. Right speaking of treasures a group of teenagers in israel and earth 425 gold coins while volunteering on an archaeological dig the clay vessel in which they were found was over a 1000 years old at the time they were buried the 24 korat gold coins well enough to buy election we home in one of the best neighborhoods to find is not keepers theyve had to hand the coins over to the israel antiquities authority. And thats all for a Business Update here and a w. From me and the team in the end thanks for watching. Levanon in the group. The socalled party of god controls large parts of. The oceans on the shore the situation in the entire country has taken a dramatic turn the Political Climate is a monster a country held hostage. To. The ideas his holiness wish to bring you more conservation. How to make signals greener how can we protect have a chance we can make a difference the engineers fundamental series of the founders of g. W. And all mine. Anonyma has struggled for years under a severe economic and political crisis a country on the edge of the abyss. Then on august 4th disaster struck 2750. 00 tons of Ammonium Nitrate exploded reducing large parts of the city to rubble
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