A meal time to complete the 2nd season of omega. 6 to about the environment so about society its still about us but all the planets come the bring the spokesperson for the person missing out on. The picture still only brings us to. The 16000000000. 00 deal to take over tiffany has evaporated the Business World scratching its head after french luxury giant l v m h abandons the agreements its as paris ordered it to do so citing threatened us tariffs. Also on the show 2020 has been an impossible year for event planners put a homburg where a concert organizer is testing the waters again. Globe of the show im Stephen Beardsley in berlin its good to have you with us french luxury Goods Company l v m h abandoned at 60. 1000000000. 00 agreement to acquire the famed new york jeweler tiffany saying wednesday that the french government had ordered to break the deal reuters now reporting that the french government says it merely advised the company to delay the purchase until january citing the current u. S. Threat to tax for its goods the acquisition was supposed to happen by august 24th the coronavirus however has undermined the luxury sector making a deal less attractive to l b m h. All right our financial correspondent in new york will help us make sense of this mess good to see you there. With this decision come from do we have any clarity on this well i mean this is really a wild and crazy story unfolding here what we do know is that l b m h a received a letter from the french government and there the french government obviously hinted that buying tiffanys by not be a good idea so we heard from their is chief Financial Officer of h. Im here that they have no choice but to basically last less call the deal was tiffanys off you mentioned at 16000000000. 00 as far as i know that would have been the biggest luxury deal in wall streets history and now on the other side at tiffanys its not just accepting it so theyre bringing it to the courts and delaware so we will see where this whole thing goes from here but clearly it does not look like a happy marriage at this point are easy as we dont really know how this unfolded but we do understand that the luxury segment has taken a real hit from coronavirus working tell us. You know clearly i mean just look what happened to sales in the 1st 6 months of this years was tiffanys basically cut in half in comparison to last years luxury change depend a lot on international on global terrorism thats not happening at this point and its true here im standing here in a brooklyn neighborhood in park slope an upscale neighborhood its one of the shopping my old seer and business has picked up but its still a far cry from where it used to be so what we did here is that l b m h actually thought about renegotiating the price was definitive after a business 6 year lease to the old quite a bit so we can only assume or speculate if might use of politics as a reason to push the price for tiffanys talking about price of tiffanys the stock price of tiffanys dropped by more than 6 percent here in the winter session all right fascinating story involving a very sort of company yes quarter with the latest from new york thank you. And lets go to some of the other business stories making headlines. Users of the hugely Popular Online video game fortnight will not be able to sign into play using their apple id as soon as thursday thats according to the games maker epic games apple and afaik have been in a legal battle since august when epic launched its own in app payment system. Regulators in ireland have informed facebook that its data transfers to the u. S. Do not comply with the recent Court Privacy ruling the wall street journal is reporting that facebook received an order to stop the transfers and the e. U. Court in july prohibited data transfers to countries where privacy cannot be assured. German auto parts maker scheffler will cut an additional 4400. 00 jobs in europe by the end of 2022 response to falling demand in the sector scheffler said it hoped to save up to 300000000 euros with the move the cut will fall mostly in 12 production sites in germany and 2 other european plants. All right thats not the only sector hurting hotels and restaurants around the world in pain because of the pandemic with many only able to serve just a fraction of their normal Customer Base the feelings especially acute in spain where a new rise in infections is hitting businesses once again and bringing the Service Industry out to the streets. Wearing masks saying save the hotels madrids hotel yes and restaurateurs took to the streets to show their fears for the future theyre feeling the effects of the coronavirus pandemic worse than other sectors revenues are down by half. Some of them emotional support and assistance for a sector thats dying and. Also. Jose up the organize the demonstration he says the outlook for the sector is grim rules are getting even more restrictive diners are only allowed to sit half of the tables. Thats getting a break on Economic Performance and consumption and makes people even more anxious. A sharp spike in coronavirus cases is making the situation worse tourists are staying away restaurants and hotels are closing down more than 1000000 jobs are in jeopardy. The Canary Islands a popular destination for european tourists is also a high risk area many bookings have been canceled and hotels pools are deserts its bad news wherever you look. And to me that this is exactly what we hoteliers were afraid of a lot of hotels will close down some of them this week already. How to protect against the coronavirus and at the same time support the economy spain faces a nearly impossible task. And of course not just hotels suffering but trade fairs large large exhibitions concerts canceled in large swathes over the past year to the detriment of the businesses involved but also the organizers well crowds of those organizers took to the streets wednesday in berlin demanding Financial Aid from the government there groups behind the pro. Say event organizers are seeing revenue losses of 80 to 100 percent and are threatened with closures unless something happens. Some are trying to get creative in the mean time organizing events that it hears regulations but still struggle to make money heres a look at one concert and homburg. Live again at last belgian singer songwriter millau. Was about to get through stuff with the right in the middle of homburg port where cruise tourists would normally park their cars for the duration of the. The effort behind the event is enormous everyone in the audience gets a firm seat swapping seats is strictly forbidden and only 1000. 00 tickets are available and no more. But weve got exactly the same inputs and we still have to cover the same floor area with sound. Basically a concert like any other just with far fewer fans and lower sales sized dust plus what it means is that everything on stage and all the technology personal we need would normally be enough to cater to the final 10000 terms for the city told were only allowed 1000 you can easily see that what were doing is not very sensible from a business point of view. And low profits are also affecting the small vendors who sell food and drinks at events. Cocktail mixer mr mandrel lost all his contracts when big events came on to the lockdown in spring this year hes grateful for every concert that offers him a platform even if his sales remain low. On the list it offers a glimmer of hope and a little touch of normality. Yeah. Yeah definitely this is basically our 1st concert sense to lock down and were happy to be here today and were going to have a great evening. The tickets here start at 51. 00 euros not overly expensive it costs 10. 00 euros more for a seat in a wooden box the event agency had made using pallets 1st super social distancing. Fresh air lovely weather quite a bit of sun again what more can you want. As it seems even more currently than pretty corona. Looked closer in. For the event agency the open air concerts in homburg port are a success but not a long term solution. Just the crux of the matter we really want to know if we can take up again next year where we left off last year and without that prospect the entire sector will just cave in completely since. Unfortunately right now no one anywhere is holding out the prospect of better times ahead. Right over to africa now once one of the largest exporters of wine to europe algeria saw its Wine Production dry up in the 1990 s. As the countrys islamic government crackdown on alcohol now an economic crisis means Wine Production is back as the government needs to boost revenues. Cd bella best provence used to be a wine growing center in algeria but production stopped during the countrys decade long civil war in the 1990 s. Now a move money wants to revive production in the region just bought for sellers under 40 had to have been you know it. Dont go on here and we used to be among the worlds premier one exporters we used to produce about 22. Heck to leaders during the 1940 s. 1950 s. And 1960 s. And now weve lost the market we only produce about 400000. 00 head to liters per year for me because. During the French Colonial era algeria produced some fine vintages and a man who wants to produce wine that is good enough to export and breaking back into the market takes time and it costs money. Honestly the whole say may or not the new policy could want to revive it but we need help from the government to plant the grapes. We cant keep up with the demand of the month plus we have the local market and the external markets to think of it much of the loss or loss of their will not a much until they accept them on a says that this years vintage is excellent and hopes the boosting algerias Wine Industry can help lift the country out of the economic doldrums. And best of luck to them thats it for me and business team. Political dissent in russia can be life threatening poisoning alexina is just one example. Of this in leaders who refuse to be intimidated. Human rights are disregarded. Freedom and justice dont exist here you can spend 30 days behind bars just for calling for a protest. Song on your. Own d w. At any time. Ive come to any place using names video novellas the back of the car songs to sing along to see this to come from super funds. For. Interactive exercises. Like everything is online metafile and interactive learn german for free 50 w. By dusty boots muddy tires and drums we deliver urgent life saving boxes we give our everything to reach those who need us the most every ball feeding their futures. Boxes for the farm help of life saving fruit and or some more small down roads with no names we feel asleep to live a relentless you know promise to make every delivery special long and not just next day but every day. Thousands of children are still waiting for their delivery sponsor approx today so together care and that their lives inches. This is good i mean years after this coming up on the program the challenge to ethiopias ill be asked me defiant voices than all of them to grab everything should have gone ahead with all the mainstream actions that Prime Minister have you asked me if government has deemed illegal so how will i just about but responded. And we speak south africas ruling party after donald trump and it is said late now also mendell that destroyed the country. We dont want he needs for me to go. I dont need to go through this kind
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