Transcripts For DW Business - News 20240712

To sell the biggest composer. I cant even begin to imagine a world class one Player Center willers on a musical journey of discovery. 2 with the hope that mr september 16th. In the midst of a con demi queen my twit knows the worlds biggest i. P. O. Shares in chinese ecommerce giant alibaba jumped to a new record this morning a day after the groups financial on filed for a joint listing in shanghai and hong kong. Coming up new laws aimed at improving the lives of europes Truck Drivers could backfire we tell you why. Hello and welcome to do business i want to get Johnson Beilin good to have you with us and. Were starting with what could be the worlds biggest i. P. O. This year and to group has filed for a jewel listing in shanghai and hong kong and group of course is the Financial Technology arm of chinese ecommerce giant Alibaba Group back in 28 years it was valued at 150000000000. 00 in a private fundraising round making it the most valuable unicorn in the world but now its aiming for even more. The question at the checkout in china supermarkets is usually a simple one we chat or hourly pay barely anyone here uses cash the 2. 00 large chinese Digital Payment apps have cornered the market among the countrys 1400000000 strong population. Pay has the lions share with almost 55 percent followed by we chance Parent Company 10 cent with 39 percent. 10 percent is ahead in another area however we chat is a very successful social media app in china and now offers an all in one service where you can buy the latest trainers grab a pizza pay for other services all within the app itself in this realm has a lot of catching up to do after its i. P. O. It will certainly have the capital to do so. In this story lets bring in our financial correspondent in frankfurt thats Chelsea Delaney good morning to you and our man in taipei strong hands sue good morning to you too and id like to start with you. Because why if you will listing and both of those basically taking place in china. Well actually the end financial is not the 1st Chinese Company to list both in china and hong kong we know Companies Like net. And financial Sister Company the ole went to hong kong for listing and there are several reasons the 1st reason is because hong kong has a very special financial status so for these Chinese Companies hong kong like the United States is considered off Shore Investment with the stock market turnover comparable to other major exchanges and secondly hong kong as an International Foreign Exchange Trading center can always meet the demand for foreign currency fundraising especially in u. S. Dollars and compared with the Madeleine Hong kong alyson hong kong always attracted more coverage and more reports from Multinational Investment Bank and Research Institute thats not here to track overseas investors probably not usually more companies yeah that is if they talk on that that that is exactly the point where i want to bring in chelsea because when you talk about hong kong and its traction especially to Foreign Investors Chelsey Hong Kong is no longer the gateway to china it is technically speaking china now and will that affected states is in the financial world you think. Well after china introduced the National Security law for hong kong over the summer there was obviously a huge political blowback and many people thought that hong kong would lose their special status as really the gateway to china a lot of Investment Company as a lot of hedge funds were threatening to pull out but now that the dust has settled it doesnt really look like much has changed and if anything hong kong status has actually been strengthened because normally a company like and would have done a listing in new york in a listing and china as well now because of these tensions between the u. S. And china and these these really big attractive chinese firms are listing in hong kong instead of in new york so thats really bringing a lot of money and into hong kong and making it an even more attractive financial place for investors to write and of course were saying this is could very well be the biggest i. P. O. This year but we dont know yet when or do we is there a date out yet over chinas relevant authorities. Because the live work fine is shows i. P. O. And songhai had been done and all did and financials are here in hong kong was also set to so we can expect the earliest date to be in october. Ok well thats definitely when we will catch up with you again tells you a little question for you because i mean all of this is happening as we know now in shanghai and in hong kong whats the relevance of this i. P. O. From the european perspective than. Should really get a lot of cash from this from this i. P. O. And one theory is that they could perhaps use it to expand more in europe especially now that the u. S. Market is increasingly unattractive for investment for Chinese Companies and already has been expanding a little bit and europe theyve done some small acquisitions really focused on chinese travelers so far Chinese Tourists but potentially they could be doing more expansion going for it and after this i. P. O. Delay the reporting for us from frankfurt and some months to in taipei thank you so much to both of you have a nice day. Sometimes meaning well can cause harm than good the e. U. Commission for example aims to improve the working conditions of close to 3000000 Truck Drivers moving freight across the block all the laws coming into effect now require them to return home every 4 weeks oh yes fear this will hurt their business and it could be the Truck Drivers who actually have bad the brunt of. The 3 wells dont get any easier with time. But if im down his family came to send him off from the rumanian town potentially the truck driver is heading out on a journey through western europe Long Distance driving has been stiffened amins life now for nearly 6 years he enjoys it even though it wasnt easy at 1st. I can say that its the right job for me. But i do enjoy doing it even though there are moments when i would like to be home. And sometimes have 2nd thoughts about Going Forward with trucking. But every job requires sacrifices or. Truck drivers like him now worry that the new new trucking laws could mean even more sacrifices starting now drivers have to return home after 3 to 4 weeks on the road with their weekend rest will have to be spent in the hotel people by the company no longer in the cabins of their trucks these measures are intended to improve working conditions in an industry where drivers often spend months in the road but many of the roughly 60000 remaining Truck Drivers working in western europe feel discriminated against not only does distance separate them from the western markets tonight the hungry in Border Crossing illustrates another disadvantage. Romania is part of the e. U. But still not a member of the schengen zone which allows freedom of Movement Without border controls across most of the block each time romanian Truck Drivers leave their home country they. Find themselves here waiting in line for hours and hours on end with mandatory return to their home country now being imposed this line is likely to become a lot longer in the future or perhaps no more lines at all at the transport ministry in bucharest reserved great that these evil laws could change not only the face of the industry but of the entire rumanian economy. Were facing a major risk that these companies will relocate their trucks and families and taxes from romania to the west. We impose this is what were facing the in romania we dont want that to happen it is back to the border stiffen is not going to make the crossing in time and prepares for the night asked about what his future might look like he becomes thoughtful. If i work shorter time then obviously the money i earn more be much less if not have to live so im really thinking if this whole effort still makes any sense or going. Home no money no family. Can see the purpose of it any more fizz vos is already looking into packing up and branching out into spain steffen might have to follow food for now its lights out hes got a long journey in the morning. And on to some of the other Global Business stories making the news. Energy giant exxon mobile is to drop out of the Dow Jones Industrial average after 100 years in the index its one of 3 companies leaving the dow theyll be replaced by 2 Tech Companies Sales Force Dot Com and im jim and buildings and appliance conglomerate Honeywell International at the end of this week. The United Nations says the coronavirus has devastated Global Tourism with 270000000000. 00 euros lost in revenues in the 1st 5 months of this year the slump is threatening more than 120000000. 00 jobs the u. N. Says tourism is one of the largest sectors in the Global Economy accounting for 7 percent of global trade last year. Well and for almost half a year now weve been reporting on the novel ways in which businesses are adapting to the coronavirus pandemic and this time were off to mexico where a group of gym trainers have set aside their focus on top fitness and instead focus on survival its usually a place of such energy but this fitness club could barely be more quiet its one of the many mexican gyms forced to close because of the coronavirus pandemic hit stuff like its machines were left idled. That was until they began burning fat of a different kind. Welcome to mexico citys newest taco takeaway. Influences the result. Of the closure of jim facilities we had to think about how to move forward with a look for a way to earn income forma. Its been pointed out that converting a gym to attack urrea is not the obvious choice these are not exactly health foods are they. If overall its a really funny thing actually there are already a meals out there saying that weve become exactly what we set out to destroy. Them all this 3 years its also been a big leap for the gym staff whove gone from sculpting 6 packs one week to preparing meat snacks the next. Up and then i feel the fit in that would be very different for me because i havent cooked like this my whole life and now im learning in that. Itll be a while until they can return to their usual vocation in the gym. But in the mean time at least they may be generating some new potential clients. And they can work it all off later thats the Business Update here on d. W. From in the team banks which. Are so far optimizing city that minimizes emissions separates waste and in the best case. Can these visions become reality there urgently need in. The city the living space of the future with room for everyone. On. What secrets lie behind. Discover new adventures in 360 degree. And explore fascinating World Heritage sites. World heritage 363 get me out now. Welcome to global 3000. This week we take out all crystal ball and check out the cities of the future just what will life be like in our worlds urban centers in 205100 years we look at some of the fascinating ideas already being developed and learn about new technologies and innovations as well as