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tv   Business - News  Deutsche Welle  July 30, 2020 11:15pm-11:31pm CEST

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he also developed an absolutely uncanny ability to heal troubled waters. later in life to do is turn from protest to politics he ran for congress in 1907 and state for 35 years until his death on july 17th representative lewis was laid to rest at the south you cemetery in that land but dr martin luther king jr is also buried. c.w. business is up next with kate ferguson. eco india. how can a country's economy grow harmony its people and parliament when there are doers but look at the bigger picture india a country that faces many challenges and whose people are striving to create a sustainable future clever projects from europe and india.
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called g.w. . literature invites us to see people in particular that i like to see some as the kids find strength growing up her. might talk to the american worker for. 3 books on youtube. the u.s. economy suffers its biggest decline in post for history meanwhile germany announces a rack or dip in g.d.p. we'll get you analysis on what some are calling it the recession of the century. also coming up will america's tech giants help or hinder an economic recovery we'll look at how they're fairing during that hunt and neck. and airballs loses altitude
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coronavirus causes a you must in sales. this is the dumping business i'm kate ferguson welcome to the show the united states and germany have posted their biggest economic decline in decades business investment exports on consumer spending all dropped as lockdowns put the brakes on economic activity in both cases the record drops came despite major government spending programs. one ruiz's one of around 18000000 unemployed americans. the 56 year old accountant lost his job at a forklift manufacturer after a contract at covert 19. with no job to go back to he's finding it harder to find work than he had expected which. many people are losing their jobs because the companies they work for closed their doors in fact my company closed they said they
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were not selling and shuttered their warehouses. factories are closing small businesses to americans are tightening their belts and that's cause the country's gross domestic product to drop by a staggering 33 percent last quarter. but it's also worth mentioning that if the u.s. counted g.d.p. like europe does that it would have only fallen by 10 percent. making germany's g.d.p. drop during the 2nd quarter slightly worse than the us it is. however germany has seen less unemployment thanks in part to government backed short term work schemes satisfied by digital numbers for germany in q 2 are worse than expected but let's be honest we weren't expecting good news in terms of growth the important thing is to put the 2nd quarter behind us and look to the future so everything depends on the course of the corona pandemic. in germany infection rates are on the uptick.
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around 700 new infections were reported on wednesday in the us the numbers north of 60000. worrying numbers are one reason and he doesn't expect the economy to get back on track soon his wife and son work part time but they barely make enough to pay the family's bills. let's break this down with business correspondent jan squatter in new york yes the u.s. has been much more badly hit by cove in 1000 than germany has been why then are they posting similar to clients. well i mean their devil is in the details so if you look at certain numbers for example investments here in the u.s. almost got cut in half in the past quarter also if you look at consumption there was also a drop of about 35 percent and i know that you can compare the headline number there almost 33 percent decline in g.d.p. with a good 10 percent in germany that's like comparing apples to oranges but my feeling
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overall is that actually a country and an economy like the u.s. is fairing worse than that germany is faring better than the united states the economy here in the u.s. is driven by consumption it's driven by services and those were the sectors most during the past months of the pandemic. now against you know both of these countries very well how would you compare the stimulus response from both so far well i mean definitely the united states is throwing a lot of money trillions of dollars at the problem you also have the federal reserve supporting the markets and the financial system but overall i would say that germany at least for now seems to be better prepared and that's basically because of the soul solution social system that just works much better and much more direct to actually bring money to people where it's needed to bring it to
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companies to where it's needed just by the way it's not the fault of us president donald trump we have those social systems here in the united states for decades and it's just a very difficult to bring directly the money where it belongs to this is clearly something that has to be worked on for the future but as of now at least it feels like germany is do we dealing with the crisis better than the united states even if the headline numbers as you mentioned earlier are quite similar. quite talking to you. now to some of the other business stories making news symbolic boys government is to pay $3.00 and a half $1000000000.00 to white farmers whose land was seized over 20 years ago. say the seizure wreaked havoc on the agricultural sector it's unclear however the cash strapped country will afford the compensation. chinese telecoms giant huawei has
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overtaken samsung as the largest smartphone maker in the world that's according to market research company carlos analysts say china's early recovered from the coronavirus pandemic reinvigorated hallways domestic market where it sells more than 70 percent of its phones. knows some of america's biggest tech companies have announced their financial results for the last quarter facebook came out on top reporting an almost doubling in profits despite an advertiser boycott during the quarter meanwhile amazon posted its highest profit ever and applebee's wall street's revenue expectations but google parent alphabet announced its 1st ever a decline in overall revenue that was due to flocking sales. let's take a closer look now at how the u.s. tech sector has been faring during the pandemic to do that i'm joined by news
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arthur sullivan i thanks for coming on run me through just how it's an impact the coronavirus has had on the industry ok so it's not really been as simple as have a good it's been it's been a bit of a mixed bag now in a lot of specs the big tech industry was made for the bizarre circumstances that the coronavirus pandemic put people in because it's an industry that's obviously based primarily on 2 things internet usage and whether people will spend money on the internet or for companies like amazon that was obviously a very clear way that they were going to benefit during the pandemic because people were rushing on to their platform to buy everything from groceries to facemasks to whatever things that they weren't able to go to the source to buy for giants in the social media areas facebook or in the search area like google it was a little bit more challenging because what usage was of the opi per hour on facebook and google more advertising revenue was not necessarily 0 because so many small businesses which advertise in those platforms were no longer in a position to advertise because their own businesses were struggling for other reasons to do with the pandemic so in many respects big tech has benefited on like so many other sectors from the circumstances of the pandemic but it's not as simple
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as that because there are other challenges that the democrats for them i think seldom thanks so much for your insights. and hosted a quarterly loss of 1900000000 euros the plane maker says the coronavirus has presented the industry with its greatest crisis ever the company sells half as many planes during the 1st 6 months of this year as it did the same period in 2019. for residents of the tiny town of levine you're new to news it's a familiar event and the 3 year t. is on the way. whenever one of the aircraft is assembled in the nearby factories part of the fusion which has to squeeze through the tons narrow streets this time it's for plane to 17 to last the giant airbus a 380 has been discontinued after just 15 years in production i think that people would have loved to have the sec rough you know being produce for
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a longer period of time anyway again i think that everybody is very proud about the aircraft and what it means to help us know how the skills that we developed along those is very important then to pave the way for the future innovation. up to $850.00 passengers fare on a 3 day but times have changed airlines around the world are no longer looking for maximum capacity nobody want their aircraft to be cost effective and flexible the end of the a $380.00 couldn't come at a wash time for. they've barely recovered research and development costs and at the same time the company is dealing with the consequences of the coronavirus pandemic . is in charge of carbon design but today he's in charge of delivering a long haul here of the new $350.00 type to lift tons of. the pandemic he says
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has picked airlines around the world in a precarious position. is feeling the knock on effect. 911. we've seen crises in the past 911 the sars virus those were just small dates that didn't affect our long term growth less time the losses are big and they're going to last much longer that means we have to think in terms of years before things get better all. around the globe airlines are struggling with insolvency and cancelled orders airbus has had to cut production by 40 percent since the beginning of the pandemic employees like pilot thomas wilhelm see each delivery that takes place on shared you as a glimmer of hope. that once is the stupidest. it's important for us to keep our production stable even if it is it's a little level and it's a very good feeling and a positive sign that we're delivering big planes like the. causes for.
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the flight of the new a 350 was a success but stuff are worried airbus has announced plans to cut 15000 jobs from its worldwide workforce. and finally with all this economic doom and gloom you might be forgiven for just wanting to get away from at all no surprise then that the value of the so-called space economy has risen to an astronomical 400 and $30000000000.00 in the past 10 years spending on rocket satellites and other services has risen by more than 70 percent over 80 countries now have space programs. the sky's the limit i'm not following up time for thanks for watching.
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people. going to africa sometimes to. join them as they set out to save the environment learn from one another and work together for a. cause to overturning it for good.
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from nigeria that's what money would. send to. and successful beyond belief. this is the way we do it. would start aug 7th d w. when people hear the word bad they usually think of money but today we want to talk about a different kind of back one for things like beans the man is and body here what's being stored and saved feeds but right cheese adopted to the changing climate
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