Transcripts For DW Business - News 20240713 : comparemela.co

Transcripts For DW Business - News 20240713

Trying in all ways to understand this new culture. Or you are not of in a tourney are the guests you want to become a citizen. In for migrants your platform for reliable information. Much on. U. S. Retailers suffer their worst 2 month sales drop ever can businesses recover lost ground as they slowly reopen were the wave of bankruptcies in the making. Also coming up as if things werent strange enough europe is rooting for german football the bundesliga is starting back up. And with the car parts market at a standstill one German Company revs up its production lines to make protective equipment. This is your Business Report im Stephen Beers in berlin its good to have you with us. U. S. Retail sales plunged by a massive 16 percent in april far worse than analysts had expected as the crowbars pandemic kept americans at home and the retail slump puts the worlds biggest economy on track for its worst 2nd quarter since the Great Depression businesses are reopening as states and local governments ease travel restrictions the stores are operating well below capacity and there are fears a 2nd wave of infections could keep consumers out of the shopping malls. And lets talk to our financial correspondent yens korda in new york. State economies are slowly opening can businesses recover this lost ground or should we expect a large wave of bankruptcies in the future. Well some stores will come back and term some wont and if you talk about bankruptcies j. C. Penney that Big Department store chain here on friday hinted that it might have to file for bankruptcy protection if thats the case that does not mean that or the stores will event but there will be layoffs and some stores will be closed and definitely by the way not just talking about Department Stores there was a new estimate i wouldnt we always have to be careful with estimates but that one in 4 restaurants in the United States actually it might not come back even if the pandemic stops and that is also pretty bad news for the labor market because as you can imagine restaurants bars so also important employers. Even if companies file for bankruptcy protection i guess thats important not all the stores will be gone but we certainly can expect some more. Of bankruptcies and yes a lot of. Jobs will be lost and a lot of stores will not survive this crisis one in 4 restaurants that would be considerable hold on i want your thoughts on another business headline today a trade tensions between the u. S. And china ramping up again as washington plans to block shipments of semiconductors to Chinas Huawei from global chip makers President Donald Trump blames china for the pandemic and has even suggested he could cut ties with the worlds 2nd largest economy and in a move that will further anger beijing the worlds biggest contract chip maker t s m c from rival taiwan said that it plans to build a 12000000000. 00 factory in arizona. Back to us it looks like those trade tensions are back on how is this move by the u. S. Likely to pay out play out in the weeks ahead. Well everything is on the table but there was one market commentator from another t. V. Station actually who summed it up quite nicely he basically said were crazy thats really the last thing that the United States and needs we have an economic crisis we have a Health Crisis we might even see a financial crisis and then on top of it you would have a trade war because its pretty likely if the u. S. Really goes as a rule to block those shipments there would be some retaliation from china and that a couple of u. S. Companies for instance and we also saw on friday that the stock prices of the Big Semiconductor Companies Like qualcomm for example or intel they actually got to quite heavily if the United States will follow through on this threat remains to be seen but its clearly wouldnt be helpful but overall it was really fascinating to see once again here on friday so we had this news was a possible trade war or escalation of trade tensions between the u. S. And china we had those certain pretty terrible and historical slump in retail sales and what did the markets do well which rated to the upside but for the week everyone chips are down 2 percent. No one really knows anymore all right there for us in new york thank you very much. Ivan as we get. Over to europe now where the contents largest economy is now formally in recession the German Economy shrinking by 2. 2 percent in the 1st quarter of this year thats its biggest quarterly fall since the 2009 financial crisis virus measures have shuttered shops and restaurants wiped out tourism and provide a setback for manufacturing and the numbers will only get worse before they get better germanys g. D. P. Data is due me even if slowly but surely the lights of the economy are being turned on again. Folks like the countrys biggest carmaker opened its man volves plant a few weeks ago and despite distancing measures is edging towards full capacity as well as manufacturing the Services Sector is returning to normal hairdressers opened last week well its even possible now to meet friends for beer again some cafes and bars open their outdoors areas. While that suggests some hope a lot of damage has been done the german g. D. P. 1st quarter fall of 2. 2 percent is a dramatic drop after years of relative stability it also means germany has now officially entered recession with 2 successive quarterly falls and the 3rd quarter will be much worse although the drop is sharp its not as bad as analysts feared and its better than most eurozone countries where lockdowns have been longer and deeper although that is not necessarily a consolation for the German Government given the state of the european economy as a whole. I believe that it will be very very important for the revival of the German Economy that the european economy is recovering to its full capacity. Because we are all dependent on suppliers all over europe were dependent on exports demand from all over europe its in our best interests that we do that as it does business. With berlins tourist hot spots still eerily quiet due to travel restrictions its a reminder that things wont fully get better anywhere in europe until they get better everywhere. In staying in germany football fans across europe are tuning in to germanys top league this weekend the bundesliga is the 1st professional league on the continent to resume matches following the krona virus lock down clubs across europe have warned that theyre on the brink without the revenues associated with playing and thats putting all eyes on this weekends games. Since mid march germanys football stadiums have fallen silent now the bundesliga aims to emerge from its coronavirus brick with socalled closed door matches without funds and under strict hygiene rules the idea to get back out on the pitch as soon as possible. Gets anyone who rejects close door matches neednt wreck their brains about whether the league will have 18 or 20 professional clubs playing in the future because in that case there wont be 20 professional clubs left sneaky its not only a make or break issue for the German League the other big european leagues are also deliberating how to emerge from a lock down. The English Premier League is the biggest money maker in european football followed by the bundesliga and by spans legen for the premier league and lega t. V. Revenue accounts for more than half of all income. Its slightly less than that for the bundesliga but theyre determined to get the ball rolling again even without spectators if thats what it takes to keep revenues flowing when matches are aired the advertising boards around the pitch will provide another financial boost in the Current Crisis the upcoming weeks will show how well the new concept works but there is no doubt that the game will be a different one has seen in south korea where the caley season kicked off last week gold celebrated with social distancing. A sign of the times. Or at the Zehnder Group has a storied history in germany as a high end car parts producer make components for high speed operations like mas roddy and g. Now like Many Companies theyre making medical supplies a temporary solution but not so fast according to the company. For decades german tuning and car parts manufacturer was right up with the best of them but now after financial downswings and damage crises comes the impact of the 1000. 00 pandemic you. Carmakers have cut production for us thats meant a loss of 80 percent of our orders how are things supposed to continue its clear that we cannot survive that long this. Has been around for 51 years and since its reincarnation as a German Italian enterprise and 2012 its been going from strength to strength with sales climbing by 50 percent in the past business year. But then came the coronavirus and that changed everything including the auto sector experts are predicting 100000 additional job losses in the german car industry. What we can see is that this is the biggest up people since the end of world war 2 and maybe even since before that and it will deal a tremendous blow to the calm market so not everyone is going to make it into the future. Send has responded and reinvented itself again instead of reducing working hours its changed its output from carbon fiber parts and interiors for luxury models to respirator masks saving lives instead of supplying car parts. Its heartwarming to see how the entire team is pulling its weight and sticking together and to see what a team is prepared to do if were making protective gear that is urgently needed that we are supplying the people on the front line were doing our part to overcome the crisis. And thats a good feeling this could just get through and the company says this is a model for the future with a certification for a hospital use the. Car Parts Company is now turning out 100000 face masks every day send out ones to keep people safe and keep its jobs safe. All right and thats it from a Business Team here thanks for watching. In good shape. Do you know those people who protect themselves from the sun god as the weather the risk of skin cancer is rising what about getting some essential from sunlight. Any doctor i would like to prescribe you some but. Dont use it and one of the. D. W. How does a virus spread. Why do we panic and when will all this tremendous 3 of the topics covered and the weekly radio show its called spectrum if you would like any information on the chrono larysa or any other science topic you should really check out our podcast wherever you get your podcast you can also find us at d. F. W. Dot com forum slash science. We know this is very time for the coronavirus is changing the world changing our lives so please take care of yourself good distance wash your hands if you can stay at how we do w. For here for you we are working tirelessly to keep you informed on all of our platforms were all in this together on together to make it to. Stay safe everybody. Stay safe stay safe please stay safe. Welcome to in good shape coming up. How dangerous is basal cell carcinoma. Of sunscreen really protect against the suns harmful rays. And how much sun is actually good for us. Hello and welcome to in good shape do you know balls

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