tv Business Deutsche Welle July 1, 2019 11:15pm-11:31pm CEST
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band doris crane the moment arrives. join during a tank on her journey back to freedom. in our interactive documentary. bring in 10 returns home on t w dot com to tang's. propping up prices as the global economy slows and a higher u.s. oil output is weighing on markets the opec cartel and other nations decide to continue restricting their production also coming up critics call it cruel some sushi lover scandal breaks the 1st commercial whaling ships in decades set sail from japan and paris cleans up its act by banning diesel cars from dark driving on its famous boulevard. welcome for the program the
world's big oil producing nations continue their fight to prop up the price for crude on monday the organization of the petroleum exporting countries and $10.00 other nations agreed to extend supply cuts until march 2020 that's according to several sources weaker global demand as a result of the us china trade spat have fueled fears that they recently rebound and price would come under pressure again. if you're looking for an insight into the state of the global economy. and the status of geo political relationships the oil industry is a good barometer. because prices are still in danger of falling opec heavyweights saudi arabia and nonmember russia have agreed to extend current production limits for another 9 months. to put. everyone's support of the proposition to
extend for 9 months the limits agreed to in december. opec 14 member countries and its allies like russia account for about half of the world's crude outputs. benchmark brant crude has climbed more than 25 percent this year after the white house tighten sanctions on opec members iran and venezuela. but prices could see renewed pressure as a slowing global economy squeezes demand and u.s. oil floods the market. our commitment to balance the market our commitment is to bring down inventories our commitment is also to call our colleagues to do the same. the extension of output cuts are likely to anger us president trump they could lead to higher prices of gas stations something he sees as a threat to his reelection campaign our country is less than intentions between the u.s. and iran could also mean that price volatility remains
a challenge for oil producing nations. all right for more on the story let's cross over to wall street and spawn a quarter yes opec countries and others are said to extend their production cuts that that show on the oil market. you know we certainly saw another uptick in the price of oil after best texas intermediate so the oil that we trade here in new york already shot up by almost 10 percent in june so now it was the beginning of july we saw another increase and. knowledge trades almost at $60.00 a barrel what also is effect of why we saw a recent increases in the price of oil is the dollar you do trade oil in the u.s. dollar and whenever the dollar drops that often actually increases demand for oil from outside the u.s.
and that actually is an extra boost for the price of the dollar traded a bit lower in the past couple of weeks also has been effect europe and yes monday it was the 1st day of trading of the 2nd half of the year and stocks got off to a positive start. no well i mean this so-called truce between china and the united states when it comes to trade was good enough to make the s. and p. 500 to a new all time record high the dow jones industrial average is just shy of few points of all to reaching a new record for the month of july by the way the u.s. started its 11th year of the economic expansion so this is the longest expansion phase in the history of the united states other than that this week there was for the force of july holiday i guess it will be a rather light trading and everybody is waiting what happens in the next 2 weeks
when the next earning season kicks off his coat in new york thank you. the g. 20 summit in osaka is over and japan is going back to normal and that new normal is not pretty at least if you ask around in the japanese economy a key survey of businesses shows the mood of japan's biggest manufacturers is at an almost 3 year low it's another sign of the strain put on the world economy by slowing demand and the u.s. china trade disputes. every 3 months japan the central bank carries out its 10 can survey of business sentiment the latest shows the country's manufacturers are in need of a lift. each survey produces an index figure calculated by subtracting the percentage of businesses who say conditions are unfavorable for the percentage saying their favorable back in march large scale manufacturing had an index of plus 12 this time it slipped to plus 7 that's lower than economists had predicted and the lowest
since september 26th seen. the survey covers a period just before the weekend's cordial meeting between presidents trump and she the resulting announcement that u.s. china trade talks will restart should give manufacturers a boost however they'll still have to contend with slowing global demand. a positive from this quarter's time can result is that service sector sentiment is improving companies are planning to continue their spending plans suggesting solid domestic demand may at least be taking some of the weight off the impacts of weaker exports. it's like a scene out of moby dick whaling ship setting sail on japan's 1st commercial hunt in years conservationists call it cruel and outdated some japanese can't wait to sink their teeth into it. it was all hands on deck before setting sail on a hunt that's been 3 decades coming these are the men that will bring fresh local
whales back to japan harpoons are ready and sort of the crew. to do bigger and fatter whales means better meet your dog will transport it as fresh as possible so that all people can taste it and remember the old days of. communities like stand ready to cash in is japan defies international outcry and pushes ahead with the practice. to send off commercial whaling ships for the 1st time in 31 years is very emotional for those of us who've been working for the resumption of i'm happy from the bottom of my heart. in recent years japan has got its fill of will meet through scientific cons but local see it never produced enough. many traditionalists in japan see whaling as more of culture than conservation though not everyone agrees with a hormone called i've never eaten
a whale before i don't know if it tastes good so i'm wondering if i should buy them are not. to. knock them a bit thin i don't really need to eat whale. that's another major whaling town this time and quite minister shinzo own constituency there were celebrations the crew set off in a bid to help revive japan's controversial love affair with will meet. and now to some of the other global business stories making the news britain's economy has lost more momentum in the 2nd quarter the latest manufacturing purchasing managers index showed u.k. factories are being hit hard by the slowdown in the world economy plus the effects of drugs that june was the worst month for manufacturers more than 6 years and consumers increase their borrowing at the slowest rate since $24.00 to unemployment of the european union has hit the lowest levels since monthly figures started being compiled 19 years ago and maybe even as jobless rate stood at 6.3 percent however
the situation continues to differ greatly between the $28.00 member states zimbabwe's rise to battle its currency crisis by printing $400000000.00 new zimbabwe dollars it's the latest step to shore up the local currency after the government of horror last week suddenly prohibited foreign currencies officials say zimbabweans can still withdraw u.s. dollars from their banks but that businesses will face restrictions and a new law from now on requires new electric cars to be fitted with a noise making divines the move follows concerns that no emissions vehicles are too quiet and may put pedestrians in danger the system kicks in when the vehicle is reversing or travelling at speeds of below 9000 kilometers an hour making a. conventional engine like more. and staying on the road last year greenpeace label paris western europe's worst city for the pollution caused by
diesel cars these legends had been hugely popular in europe but authorities are now closer to driving them out of the french capital altogether these are cars aged 13 years or older are now banned from the city center. the bicycle borne municipal police of paris have wasted no time in acting the new laws now even more motorists a barge from central streaks anyone who tries to bring in a diesel vehicle made in 2005 already faces a fine of at least $68.00 euros even if the rules slipped their minds. i already knew 2 weeks ago that we shouldn't drive from now on but i completely forgot and i think my company forgot to. sit in pretty deep it's a regressive policy and not one that takes is for it if you want to be extreme than paris for non electric cars that sort of thing. monday's changes bring all cost scoring a $4.00 out of 5 in france's emissions rating system into the banned category
petrol cars aged over 21 years were already barred parse aims to phase out those entirely by 2024 when the city on the send hosts the olympic games. and that's it for me and the business team here in berlin for more business news and analysis check out e.w. dot com slash business or simply follow us on twitter or facebook. thanks for watching see you back here tomorrow and here's a quick look at how global markets are trading at this hour.
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