tv Business Deutsche Welle May 31, 2019 5:02am-5:16am CEST
global markets try to shake their trade war worries and recover from the sell offs of recent days but the u.s. and china appear far from resolution and the outlook is looming. also on the show the philippines doesn't want your plastic waste rich countries must now figure out what to do with the ship loads of trash they send abroad. and is damaged art still art or just a write off we'll take you to an insurer's museum imperfections. i'm stephen beardsley this is your global this is your business update welcome lobel market steadied on thursday following days of sell offs over trade worries and a growing appetite for the safe haven of the u.s. bond market the german dax britain's footsie $100.00 and the dow jones industrial
average all ended in positive territory after days of sell offs global stocks have taken a beating over fears the u.s. china trade dispute is far from resolution festers have meanwhile streamed into bonds which are considered a safe haven during troubling economic times. and for more on this let's go now to our financial correspondent in new york jose luis de haro jose what is this investor rush to bonds telling us right now. well normally stephen investors buy bonds especially from the countries such as the united states so when they want to run away from risks and uncertainty doubts why do u.s. treasuries and notes which are basically our public debt each should buy due us government would differ in my charity meaning that the period of time payments on those bonds will be do you are also known as you mentioned before save haven are set into financial jargon bonds in general or for a lower yield on
a stock so investors get less return on their investment but at moments like the current situation where you have a trade war going on an increase the probability of a global is a low down or a hard break seat on the cards running to u.s. government bonds for example is consider a safe bet sense that they are among the world's safest in terms of the likelihood that their interest and principal will be paid on time those that we're hearing a lot more concern talk about this inverted yield curve of u.s. treasuries you explain what that is and why it matters. well dick your version happens when the interest rate also known as yield. of the resculpting holding a long term bond in this 10 year treasury for example is lower than do one on a much shorter note like a 3 month one why you we should be worried about these as stephen historically unimpaired the deal indicates that that recession might be coming in about a year but this is not a rule and there have been plenty of exceptions in deposit like the late 1966 or
1998 and aside from the probability of a recession coming need also implies that the investors believe that the federal reserve will lower interest rates as a way of avoiding a hard landing on the economy right now is stephen even if the fed promises patience and said it wouldn't make a move this year investors are already digesting up to 2 rate cuts by the end of the year all right so concerns about a recession and the expectation of rate cuts jose luis de haro there for us in new york of a trade war between the u.s. and china is already changing global trade and supply routes for evidence look no further than vietnam it's noticing a pick up in business from both american and chinese companies hoping to escape those high tariffs. tonally based textile factory produces garments for american brands such as hollister bonobos the next press the manager expects exports to the
us to rise by up to 10 percent this year. thanks to the trade war between the u.s. and china several sectors of the vietnam economy have benefited most or all. especially algon and sector. the. another reason more and more chinese companies are now setting up operations in vietnam to avoid the high of tyrus out of china. the 2nd they say ok maybe. when the u.s. supply tyreese on chinese products companies thought of the vietnam immediately because vietnam and china are quite close together and moving materials from china to vietnam and from vietnam to the us is the same as exporting from china to the u.s. . with no end to the trade war inside analysts say the
manufacturing shift out of china is likely to continue and could redefine global trade patterns vietnamese manufacturers hope that could end china stone and the factory for the u.s. but instead of the high of terrorists driving u.s. manufacturers back home countries like vietnam are getting the business. just hours after malaysia's prime minister urged wealthy countries to stop sending his nation their trash another country has rejected western waste a cargo ship has docked in the philippines to pick up $69.00 containers of canadian trash which the filipino government says never should have landed on their shores in the 1st place. 11000 kilometers is a long way to go to clean up your own mess b.m.v. bavaria arrived at subic bay in northern philippines tasked with picking up 69 containers crammed with trash and returning them to british columbia many filipinos will be pleased to see them go the government and environmentalist greenpeace say
they would deliver it years ago illegally. it is a deplorable practice that a lot of countries especially in the building there is do to get rid of the ways that they cannot process in their own countries so where ever we street happens it impinges on human rights of the people who accept that we. is expected to take the best part of a month to return the trash to canadian shores philippine president roderigo to tatty is making an example of canada as another nation says it no longer wants to be a dumping ground for anyone else's waste. and here's some other business stories making news german discount supermarket is to open its 1st 2 stores in china next week its flagship operation will be based in shanghai retailer already launched online sales and the world's 2nd largest economy in 2017 including china audi has over 6200 stores in 11 countries including the u.s. and australia. car production in britain was hammered in april output fell by more
than 44 percent year on year factory shutdown to sidestep the risk of a potentially chaotic no deal brags that in march that's when britain was originally slated to leave the e.u. the latest date is end of october. in an unusual move the head of a japanese business lobby says a planned sales tax hike should proceed as planned in october japan needs revenue to pay for bulging welfare costs incurred the industrial world's heaviest public debt burden some lawmakers had suggested postponing the hike on concerns that could tip japan and the recession. now to the art world fine art is big business artworks are being shipped around the world and some get damaged in the process the most of it isn't shirt of course often for millions of dollars but when a claim is made and damages are paid what happens to the artwork well it becomes property of the insurance company though they frankly don't know what to do with it
. is this no longer art is a damaged must a piece still a masterpiece these works have been taken off the market they have imperfections most likely cost in transit somewhere helmut newton photograph of margaret thatcher scratched indented. peter lindbergh's piece has a small split in the frame so should they be pinned or they still worth something and even parked at the here that's the question we have to ask the object stored total writeoffs meaning we paid out the full insurance value for them. but we could actually chuck them out but for me a financial write off isn't necessarily a cultural write off. this is one of the biggest asked insurers in the world just 2 years ago they started paying to keep the hair in storage and they say it's
not necessarily a graveyard it's a smallish guns fund or is the autism lost entirely we really believe it can be preserved so you never knew restoration processes that could preserve certain pieces about lives the p.s.o. to talia by georgia carrick i would probably be worth a 1000000 euros if the wrecking ball hadn't bashed into the wall it was hanging on for now it wait with the other rejects hoping for a new lease of life. what's claimed to be the world's 1st 5 g. laptop has been unveiled at a computer show in taiwan it's been designed by u.s. telecoms company qualcomm and hong kong tech firm lenovo it looks much like any other laptop but the central and graphics processing units have been combined into a single chip the manufacturers claim it will connect at data rates of multiple gigabytes a 2nd and has a long battery life that we don't show at taipei's computex tech exhibition. chinese tech giant huawei has unveiled its 1st open 5 g.
development center in south korea the lab will allow other companies to test their platforms because of its recent blacklisting by the u.s. government the launch was kept low key and behind closed doors and going trade war between the u.s. and china has left south korea in a difficult position between its crucial security ally and its biggest trading partner. and saying on 5 g. it's their last british telecom mobile phone provider eve has become the 1st in europe to launch a high speed 5 g.'s service a 5 g. now will be available in limited parts of 6 cities including london birmingham and belfast with 10 more lined up to follow vodafone is expected to begin its own 5 g. network rollout next month the 5 g. standard offers almost instantaneous data transfer its condition for internet 4.0 which will handle strategic sectors like energy transport banking and healthcare. and that's it for me in the business team i'm stephen beard thanks for watching.
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