tv Business - News Deutsche Welle August 14, 2020 11:15pm-11:31pm CEST
in terms. of the day to world have more world news at the top of the next act takes over sometimes when they don't mean business a good. place to any spoilers surprises moved on. to something that's going to play the footsteps of a great. town the fleet stretched slower. 3 times wanted. to marry a much alive challenge to specialists in germany. where
exactly. are no laws are sculpture history. travel extremely worth a visit. as the rate for a cove is 19 vaccine heats up german biotech company karabakh goes public in a bid to raise cash for clinical trials u.s. president donald trump is among those who'd be keeping a close eye on the company's progress. also coming up the u.s. and china are prepared to resume trade talks the backdrop of a global pandemic and washington's threat to bomb social media giant take top.
business i'm kate ferguson thanks for joining me. it was a hotly anticipated i.p.o. and it turns out to have been as lucrative as analysts expect it german biotech company karabakh has made well over $200000000.00 in its debut on the enough stock stock exchange giving it a total value of a bite $2800000000.00 for firm is working on a covert 19 vaccine and wants to use the funds to pay for clinical trials. for more let's bring in business correspondent yes quite to yes how much of a boost is this for a cure back. well it's clearly helpful i mean a good $200000000.00 that is very promising and it was a very good start here in midtown manhattan at the stock up by 250 percent so it more than tripled in the 1st trading day but you're of it already said that they're
going to need to more money probably hundreds of millions of dollars maybe from a safety co-founder a deeper hole pool is one of the big investors in a cure a victim also of the bill and melinda gates foundation are in vested and if you look at other companies that already listed before the pandemic started they actually sold. to see if successful for billions of dollars and they're also getting hundreds of millions of dollars from some governments to speed up the development of the vison so clearly this i.p.o. money wise is helpful but more money will be needed. so you can search for a vaccine is turning into something of a modern day basic race where when you place your back in a list. well i mean right now if they're already in the early stages they got just got the thumbs up for phase one trial they will then soon start was clinical trials of other companies if you look at nowak so moderna pfizer was the
german partner company on take most of them already started phase 3 trial so it's early in the game but even the more every dollar is needed to speed up the process for finding a scene as soon as possible in school i think in new york thanks as ever. to some of the other business stories making news. germany's finance ministry has denied allegations of insider trading at the country's financial watchdog it said the increase in employee trading of wire card stock was not unusual compared to other volatile companies' wire cards filed for insolvency in june after a $2100000000.00 hole was revealed in its accounts. the united states has seize the fuel of board 4 iranian tankers banning for venezuela
disrupting a key supply line for both terror ron and caracappa asleep to fight u.s. sanctions the u.s. justice department says the cargo amounts to over a 1000000 barrels of petroleum making it the largest ever u.s. seizure of iranian fuel. the turkish lira has full into a new low wakens the us dollar after years of declining value it's now worth just over $0.13 making it one of the worst performing currencies among emerging markets rising inflation a result of a cheap loan policy has added to pressure on the lira. google says it will no longer respond to data requests from hong kong the move follows beijing's introduction of a new national security law in the territory critics say the legislation is designed to target protesters and free speech. in
the united states on china are due to resume trade talks this weekend 8 months after agreeing to phase one of a trade deal the contentions couldn't be any more tense the world is in the grips of a pandemic which u.s. president donald trump blames on beijing and washington is in the middle of a crack on chinese tech giants. the popular video service to talk is facing about and. 8 that's what president donald trump wants citing concerns over the chinese state's potential access to the user data take top collects then tick tock happens to be very successful in the u.s. it may yet avoid a ban if an american company takes over the video platform and its 100000000 american users until september 15th. both microsoft and twitter have registered interest and negotiations are ongoing. is already banned the
messaging app is a must have in china and most chinese smartphone users have it installed in their phones phones they take with them when they move to the us to work or study but the number of we users is far behind that of tick tock these are only the latest battleground in the fight protect supremacy between the u.s. and china but it takes 2 to play the game american social media platforms like facebook and twitter have been banned for years and chinese tech conglomerate huawei has been a bone of contention for the u.s. despite washington sanctions however while way still managed to sell more smartphones than any other company but whether that success will hold is another question while ways struggling with challenges to its smartphone production mostly due to u.s. trade restrictions against china that prevent american chip producers like qualcomm from providing wall way with processors their supply is only enough for
a few more weeks even while way might have to stop producing phones as early as september. let's bring in james under a new if he's the director of the technology policy program at the center for strategic and international studies in washington d.c. james welcome to the show how big a role will chinese tanks play in this next round of talks. well i think it will overshadow them it's surprising if they're making any progress there's areas like cultural products where there's still room of the president we welcome progress on agriculture but tech overshadows everything ok now washington is threatening to take talk on national security grants not a way to look at this is that america is simply threatened by at chinese success story what do you think about no it's not a threat of the chinese success story it's the threat of chinese espionage and
chinese censorship and of chinese influence operations fortunately there's good evidence that china is doing this we know they're censoring things on to talk there's a deep concern in the government that they will use to talk as a platform to spread chinese propaganda that they've done it the other areas and finally there's the whole question of what happens to the personal data there can be collected over by defense it's best to see to talk not as an individual case that part of a larger pattern groups in health care companies and insurance companies china's vacuuming up u.s. person data to populate a surveillance database and that's the primary grounds for concern on that question of data about us present donald trump educating chinese companies of mining you say state as you say i'm the likes of facebook and google doing exactly the same thing . they are but they don't have prison camps engine jank they don't violate their
agreements in hong kong they're not a state and so china is the world's largest surveillance state it's the world's largest police state it's not a democracy it doesn't respect human rights or the rule of law that makes it fundamentally different facebook and google can't throw people in jail china can. and what do you think beijing strategy will be then in the next round of talks. oh i think i'll look for retaliation i mean as you mentioned going into this of course us social media platforms are banned in china so even some chinese are told me we understand why you're doing this you're just using a page from our playbook but china will look for other areas where they can retaliate and when i do that since you know i'm sore and investments are something else we're showing it will be careful to do this in a way that doesn't hurt their own economy but they're looking for ways to retaliate and we'll probably see that relatively soon now these negotiations come on an
incredibly volatile time for the global economy what i the chances of a breakthrough. i would say a major breakthrough it's close to 0 progress in some areas they're trying to ministration would like to see some progress because of the election i hope the chinese don't overestimate that the chinese keep saying well he's doing this because in the election it will help him that much you know will hurt him that much i mean the americans do vote their pocketbook but the trade talks won't really change a lot of the fundamental issues so minor progress the best thing would be no rupture at all because a rupture would send a very bad signal to markets and so if we can just keep kicking the ball down the road a little bit might be best for now i'll keep that ball downing james andrew lewis thanks so much thank you and finally we'd like to take you to the wine growing
region of me that in the fight a front of white muscat then have been enjoying as if actually early harvest 10 days ahead of schedule to be exact. very warm temperatures at the end of june added to an earlier ripening of the great fat make mufc out why which is naturally life on face the face. and that wraps up our show for more check out our website e.w. dot com slash business we're on facebook and twitter to me on the team it's goodbye and taken.
to the point of strong opinions clear position on some international perspectives of. comfort to treat us in germany over the north st john's pipeline linking germany with russia to boil over the american science pondering to come to probing trust interaction find out more on to the point. to the point. of the 60 minutes.
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