Transcripts For DW Business 20240713

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A guest. Just tell us which german street is your favorite. Whats the most beautiful place in germany. What would you like to explore most to enter check in at g. W. Dot com slash travel good luck and enjoy some. No deal and site russia and ukraine can not to agree on a new long term gas transit contract just people in europe fearing theyll end up sitting in the cold also coming up mario draghi says it is time for more europe not less as he takes his lead from the European Central bank and lobster is big business in the northeastern u. S. State of maine but with the u. S. China trade war grabbing on others are now in for a big catch. Im chris kobach in the program winter is coming and fears are growing in europe that it could be a cold one russia and ukraine have failed to agree on a new long term natural gas transit contract thats raising fears of possible cuts and europe as russian gas bound for the e. U. Transits through ukraine disagreements over gas payments have long marred the countrys bilateral relations with russia and a controversial pipeline project isnt exactly helping to pacify the debates. This is the end of a very long pipeline 200000 steel tubes running 1230 kilometers under the baltic sea the energy megaproject nord stream to is almost complete. Russia says the old pipelines that brought its gas to western europe have reached their capacity limit north stream to abse to more lines but it also makes russia far less dependent on the pipelines that cross ukrainian territory and that makes ukraine nervous it needs gas but relations between the 2 countries are better russias existing gas contracts with ukraine expire at the end of the year and with north stream 2 coming online its in no hurry to renew them the e. U. Has tried to mediate in vain. The time is flying and given that they the thirtys and there must be a clear sense of urgency therefore i appeal to everyone there on the table to be as constructive as possible unfortunately i have to say that im disappointed by todays outcome and i say this very open. Moscow has so far rejected the european commissions proposals russia hopes nord stream 2 will soon give it a direct route to gas markets in western europe while freezing out here ukraine. Space tourism is about to go public starting today investors can trade shares of Virgin Galactic on the New York Stock Exchange for the 1st time since its founding in 2004 Virgin Galactic has raised more than a 1000000000. 00 to develop a commercial service to take tourists to space. For more lets cross over to our man on wall street. Is Richard Branson they had a Virgin Galactic looking for more money to fund you know what people perceive as personal moonshot what was going on here theyre about to do the i mean its a costly and ever and so you need to raise money wherever possible actually it was a good start a promising start at the beginning this shot up by a good 5 percent in early trading but by the end of the day all of those gains have vanished the wall street is basically asking how many people are going to be willed to really pay around 250000. 00 for a trip more than 600. 00 people already made some payment for their 1st flight so off to a promising start to wall street was a bit hesitant with Virgin Galactic and yet staying with things that could be spectacular l b m 8 should the luxury group out of france says it is exploring a takeover of iconic new york jeweler tiffany tell us more well the stock of tiffany went up by a good 30 percent and even if this offer from louis of utah is roughly at around 14 and a half a 1000000000. 00 that just would have been a premium of about 22 percent in comparison to fridays closing of tiffanys a wall street obviously believes a deal could be possible but not to that price so either and we need to pay a bit more maybe there might be other companies being interested in tiffanys its the 1. 00 iconic luxury brand here on or in the United States and. That was the big winner here in the monday session yes go to new york thank you. Now to some it is the person who saved the eurozone from collapse others say his ultra low Interest Rate policies are responsible for billions in losses for everyday savers mario druggies stint at the helm of the european trial bank certainly was controversial on monday he bid farewell as you might suspect from a central banker more cautionary than celebratory at a time of rising nationalism in some e. U. States mr braga said it was time for more europe not less. Emotional sendoff for my own donkey the european establishment praised him for keeping the eurozone intact over 8 difficult years among them german chancellor angela merkel. Who asked him when we can see you have never given the euro through turbulent sees it. You have not avoided controversies and today we can look forward to a successful currency that if you have the secured europe and the euro area and the stability of its currency and these are truly deep traces that you have left behind. Former i. M. F. Head Christine Lagarde takes over from the party she credit him with rescuing the single currency from disaster stewardship is now coming to an end and you leave with the euro more popular than ever and trust in the e. U. At its highest level since the crisis draw he in turn offered words of support to his successor. Of the time and his crown for me to hand over to Christine Legarde and of course her said many times her repeated now i have every confidence that you would be a superb leader. And so it was time to ring in a new era with the changing of the guard to look guard. She takes the reins of the European Central bank on november 1st. And now to some of the other Global Business stories making news Argentina Central Bank has sharply tightened Currency Exchange controls the banks head says he aims to stem a surge in capital flight the bank is also said to buy pesos to stabilize the currency this comes after a left wing peronist i better fund for numbers one the president ial election sparking fears of protectionist policies and a debt crunch germanys commodify saw an unexpected jump of profits in the 3rd floor of the sale of a subsidiary lower overhead and costs from bad loans led to a 35 percent profit 5 year on year to almost 300000000. 00 euros recently the lender announced plans for a radical restructuring following collapsed merger talks with deutsche bank. U. S. Trade representatives are reviewing south africa as duty free access to the u. S. Market the move comes after companies complained that south africa is. Doing enough to protect us copyrights their view could mean new terrorists on as much as 2000000000 euros worth of goods. Lobster is big business in the northeastern u. S. State of maine and the industry have built up a thriving trade with china now the tariff dispute between the 2 countries has caused exports to collapsed and canadian fishermen are seizing the opportunity while u. S. Seller scramble and search of new markets. Maine is renowned for its rocky coasts and indian summers a week or 2 of warm weather that often comes and fall when the brilliant hues of the leaves are a major tourist draw now the adel extended up in the northeastern most corner of the u. S. Has also become a battleground in the trade war with china lobster fishers there are being hit hard by tariffs lobster exports to china are down 80 percent and Michael Libby is feeling the pressure. Weve got a good Chinese Market we ship directly there we get these terrible shelves that are buying for us the buyers mackerras dad but theres theyre buying our products from kara because theyre special terrorism to the chinese from here its just its kind of frustrating. Theres a lot of hands on labor in catching lobster like bathing the traps michael and his crew men have put out 400. 00 today. The industry in maine is strictly regulated to ensure it remains sustainable michael has to measure every single animal caught and he too small have to be thrown back. Theyve got around 500. 00 of the cross stations today in Portland Harbor part of the catch and up with a distributor that packs the animals for transport around the world. Last year the u. S. Exported around 5 and a half 1000000 kilos of lobster to china this year it looks like itll only be around a 1000000. Not long ago china raised the tariff on them from 25 percent to 35 percent bad news for Business Owners like tom adams. We need all markets its a big industry its a big business for the state and they cant be any kind of secluded from 2 major market places due to tariff disadvantages is really makes it that much harder for our business to private. Canadian competitors have now seized around 90 percent of the lobster trade with china to make up for collapsing exports manes lobster industry has to unlock new markets fortunately other Asian Countries like singapore and malaysia have begun to develop a taste for the product. As the trade war between the us and china drags on Michael Libby is now also seeking to sell as many of his lobster as possible to local restaurants. He doesnt get as much for them as he used to. But at least the beer at the end of the day is on the house. And thats our show as usual you can find more on the w dot com slash business or on our social media its of course called rambling thanks for watching and yourself a success. Secret drugs trials in the us. Have psychiatric patients in a hospital in romania. Being used as guinea pigs without their knowledge or consent. On behalf of European Drug companies and research institutes. Close up in 60 minutes on d w. Earth. To millions of species a home worth saving. On those are big changes and most start with small steps globally 2 years tell stories of creative people and innovative projects around the world like to use the term Climate Change to Green Energy Solutions and reforestation. They create interactive content teaching the next generation about Environmental Protection and more determined to build something here for the next Generation Global ideas the multimedia environment series on t. W. You know that 77 percent blockage younger than 6 oclock. Thats me and me and you. Came to know what time all voices. On the 77 percent talk about the issue. From the point of a flash from housing boom boom town this is where. Welcome to the 77 percent. This weekend on g. W. This is the the news africa coming up on the program the results are going on now about tensions remain be expressed as you see how swanny landslide victory in exists and that elections by the main opposition were novel as rejected the results so now what. Also coming up more room for improvement of units who says that the ogoni house weekend as democratic republic of congo has slowed down but its still a global imagines. One of the country that successfully toggled a killer virus

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