Make up your. Double made for mines. The euro hits a 2 and a half year high against a basket of currencies investors are bullish on europes recovery from the pandemic that has a strong euro but a strong euro rather has consequences for companies who bring you up to speed. Also on the show major Oil Producing nations agreed to bowl back some of their production pandemic production cuts can they ride an oil recovery or are they acting too soon. And the german state helps Small Businesses survive the pandemic by helping them go online. Welcome to the show. Stephen beardsley in berlin good to have you with us the euro is poised to hit a 2 and a half year high against a handful of rival currencies this week its the latest high point of a month long rally for the currency and it comes as rivals have weakens the European Unions common currency broke the 1. 20 cent mark as Inflation Fears hit the u. S. Economy itself against the pound sterling on fears that brags that brags a trade deal will not be done by the end of the year and the euro has also gain even more against the russian ruble and the brazilian rebel lets bring in carson jess the chief economist at i n g germany theres carson good morning carson what is this recent euro rally telling us. Well its telling us the Financial Markets are actually expecting this synchronise Global Recovery and this would be for the 1st time in a long while so it is it is less a euro strength rather than a dollar weakness because the dollar really depreciated lost value against many currencies so this is why investors are tracking out off the u. S. And trying to find other regions off which they expect more a return or yields on their investments going into 2021 with this Global Recovery coming. Do we have any idea how much higher the euro can go. Well you know no one has obviously of this Financial Markets dont expect really relational explanations obviously right now there is a tailwind for the euro so we see the euro kind of appreciated a little bit longer but then at the same time when you look at the Growth Prospects it still looks as if the u. S. Will have better Growth Prospects going into 2021 than the euro zone were going to expect fiscal stimulus coming out of that the new by an administration we expect still some problems in europe with this recovery front so i think there will be a natural cap to how far the euro really can continue with its strengthening should we expect to see it spike a little bit more go up a little bit more if a pandemic package goes through in the u. S. Well if this pandemic packets go through the u. S. This would rather argue in favor of a strengthening of the daughter again so this would crush rather keep the euro dollar at its 120. 00 we might even see then the idea europe dropping below the 120. 00 mark again so what we would need to really see the euro going up whats 125 or even further with the rolling of the vaccine very quickly in europe really clear signals that we are seeing this Global Recovery so not only the u. S. Not only asia but also to europe and other emerging markets really kind of engaging in a very strong and very fast recovery in 2021 then we could see a year and 125 or what you want 30 and then briefly cars if you can what does this mean for European Companies and exporters. All momently strong occurs is never good news for for x. But i think at the current juncture it is important that all these companies have different problems than the slight the strong currency there are still facing markets with less demand or no demand due to the lockdown measures so companies can deal with the current level of the currency obviously if these things go faster if we have really at corrupt changes of the change rate then problem then Companies Get into trouble but the current level is clearly not a threat to European Companies yet or a car suggests the chief economist that i and you germany thank you and now to some of the other business stories making headlines. U. S. Pharmaceutical giant pfizer has cut the number of doses of its Coronavirus Vaccine it might ship this year saying it can only produce 50000000 instead of the planned 100000000 doses thats due to delays and setting up a supply chain. U. S. Drug maker says it expects to have between 10125000000 doses of its covert 1000 vaccine available globally in the 1st quarter of 2021 and up to 1000000000 doses in the full year is the 2nd company to introduce a covert 1000 vaccine after biotech pfizer. Ryanair boss Michael Oleary says his airline is buying 75. 00 boeing 737. 00 max planes its the 1st major order of the jet since it was grounded last year following 2 deadly crashes the irish budget carrier already has 135. 00 of the aircraft on order. While they needed days to debate it and now opec nations and russia have finally agreed to begin raising Oil Production from january and the group had slashed output earlier this year after the pandemic gutted Global Demand thursdays agreement is a win for nations like nigeria whose budget is especially dependent on oil sales but it also carries risks. Opec member nigeria is one of the nations calling on the group to raise its production quotas oil is the countrys most important source of income and 2020 hasnt been a good year despite production caps the oil price continues to fall thanks to the economic downturn from the corona pandemic currently is under 50. 00 a barrel. For many opec members thats not enough to balance their budgets. Nigeria would need a price north of 100. 00 a barrel to keep their governments from taking on new debt. Hopes an economic uptick next year could allow them to up their production targets and next year the Global Economy is forecast to return to growth in spending my is the made at 4. 4 per cent and Oil Demand Growth is expected to be behind but rising prices could trigger more competition from the usa prices above 50. 00 would once again make fracking a profitable proposition which could serve to keep prices down despite growing demand. Or Retail Shopping has long been moving online or for some Small Businesses it took a pandemic to shock them out of their digital denial and now theyre beginning to sell online and finding that they need help in germany as a coach for that. Because business is starting to pick up again even if its still not as good as it used to be before the pandemic has shops online store selling furniture and decorations is starting to grow. And i wouldnt say that when you open up an online shop business goes through the roof overnight its the same as opening any other Business People arent waiting to get in but in the long run its the right way to go. Before the pandemic online sales seem to complicate it to her the technology and legal issues like Data Protection scared her away then the 1st lockdown came her store had to stay shut for weeks the only choice left was to set up shop online. Weve been thinking about going online for many years but honestly never found the time and we were scared to do it all because it really wasnt our main business. Now shes building or Online Presence step by step with a little help from the german state of north rhinewestphalia the state provides Small Businesses with socalled digital coaches i. T. Consultants like my ts lish he visits the retailers 2 or 3 times for a few hours of consultation in indigo and then write me on. Their confidence when they see a Digital Skills coach by their side someone they can always get in touch with to navigate different situations and who speaks both languages the language of trade and the language of the Digital Economy. Knowing how to thrive in the Digital Economy is vital for Small Businesses here in cologne this inner city there are far fewer pedestrians around than last year surveys show that sales have fallen tress tickly. The owner of this pet store was unsure about which products the store should stock how can he be sure what the customers want the digital coach was able to give him some good advice. What really helped us out was one of his ideas to ask our customers on facebook and instagram and thats what we did and it helped us choose the products to sell and thats been working really well. And if sales are anything to go by the products he chose were just right. Well call it an aberration in the obscure mink fur market the discovery of a new variant of the corona virus in denmark sneak farms has led to an estimated 17000000 animals being cold and to an unexpected boom in chinese for farms as farmers there ramp up their production that has some observers warning that china could be opening the door to a new vaccine resistant strain of the coronavirus. Farms like this one in the bay province have sprung up throw china to take advantage of a shortfall supplies after a mass calling in denmark but Animal Rights experts warn the often cramped and inhumane conditions are perfect breeding ground for diseases like teen. For is a lucrative product for farmers with pellets fetching up to 10000. 00 at market and traders hope supply disruptions will further drive up the price. Never never denmark is at the heart of the supply chain if there is a crisis it will certainly cause supply problems which will increase prices. Chinas growing middle and upper class has a growing taste for the finer things in life like these for coats but with little regulation in the industry some fear new strains of covert 19 may soon start to spread. And thats in our of course im worried about now everyones talking about it you know i dont know what china can do if it happens what happened in Denmark People like us cant predict when or if it could happen here so im going to. Use a smart family often the chinese authorities have put some checks in place but it seems unlikely that beijing will crack down on an industry that earns an estimated 50000000000. 00 a year. And finally robots an Artificial Intelligence are ever more present in offices and factories but some people are making sure things dont get too impersonal at work. Meet spots in rivets as they prepared to begin their shifts on the Innovation Campus of Wichita State university for about a year the 2 smart dogs have been residing there working on behalf of Consulting Firm deloitte each dog has multiple cameras on its body and underneath a sophisticated set of machinery spot and rivet are in a testing phase and could one day be used to inspect construction sites do nightly check ups on inventory. Especially. Thats it for me and the Business Team here. Com slash business as always thanks for watching. Monk without a sign of. The crew of italian fishing boats. Disappeared after a caution with the libyan militia. They were off to sea to earn a living and got dragged into a power struggle which is about a lot more. In just filling the fishing nets some can spawn. Next on. What secrets lie behind. Discover new adventures in the 360 degree. And explore fascinating World Heritage site. W World Heritage 316. Now. Hello and welcome to the program liz show for a long time russian authorities acted like they had the coronavirus and then make under control they issued relative low infection rates and even developed the for