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tv   Business - News  Deutsche Welle  July 28, 2022 5:15am-5:31am CEST

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top of the hour in the meantime, don't forget, you can always find all the latest news on our website or on twitter article freely for me and the entire team here in berlin. because so much for watching ah, a lender contrast of ambitions of inequality. 75 years ago, mahatma gandhi peacefully led the country to independence, full of ideals. what is the remainder of his vision? what's the status of human rights and social justice in what's called the world's largest democracy?
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we see the ahead it. this is the pulpit tour unleash on violet bass. and rick, imagine these teachings for relevance to gandhi's legacy store to august 6th, phone b, w ah, the u. s. federal reserve, it raises rates, yet again, by 3 quarters of a percentage point this time. it's the 2nd significant rate hike in as many months as the fed steps up. it's battle against inflation. also on the show, love tons of workers go on strike the wealth germany. the airline has counselled almost all flights into and out of the country will pay a go up or will the planes stay down and more on labor. i mean,
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amazon workers in the us are pushing for unionization, but it's a difficult journey. or us correspondent has the story. this is the w business. i'm janelle dumas on while gun the us federal reserve has raised its benchmark interest rate by 3 quarters of a percentage point. it's the 4th rate hike this year as the fed fights to rain and reject inflation in the country. here's what fed chief to rome. powell had to say. we, we do see that there are 2 sided risks. there would be the risk of doing too much. and, and, you know, imposing more of a downturn on the economy than, than was necessary. but the risk, the risk of doing too little and leaving the economy with this entrenched inflation . it only raises the cost if you feel the deal with it. in the near term, it only raises the cost of dealing with it. later, i'm joined now by gerald coin. he's the chief economist that the keenan institute of private enterprise. welcome gerald. so we just heard j powell there about the
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risk of doing too much versus too little. do you think today's fed decision fell along either of those categories or is it just right? i think it's just right for the conditions, economic conditions that we have and, and in particular, the inflation is the inflation and am a very hot job market that we have. i think the fed is facing this dilemma that they feel like they they, we have very high inflation. ready people are really worried about it, it's affecting consumer behavior the their greatest concern. and this is the lesson learned from the 19 seventies and 1880 s is that it becomes in train, the u. s. it is that it becomes entrenched. and so people start to, to behave as if inflation at, you know, very high rates is going to continue. and then the cost of tamping that down as the u. s. learned in the, in the, in 1000 early, 980 is, is very painful. so i think he's saying we're willing, hoping not to,
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but willing to, to have some pain today or in the near future to a who are in more pain tomorrow. so the point is to make sure that consumers avoid baking inflation into their decision making. but this policy of raising rates alongside a slowdown is not without its detractors. is the fed really correct to risk of recession in order to town town on inflation? so i think this is the challenge again. i think the fed is hoping to avoid a recession, but if it really feels like that's what needs to be done, you know, i think i think they're willing to do that. the challenge is that, that the policy making is extremely hard. you know, you're having an impact on economic conditions, 6 months from now a year from now. and, and so you know, in your and the day that you have is, is stale. and so you're kind of looking in the rear view mirror and, and so it's very hard. i mean that's why these policy mistakes occur. and generally
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at some point the fan over does it and you know, that's definitely the risk. but i think at this point, they're saying the risk of doing that is, is, is where the consequences of doing that are worse than the consequences of, of that are better than the consequences of not doing that. but it's, it's, it's a challenge. i mean, if, if we could, if i chris a waller the feds because of all really clear, then it would be a much easier call and, and i should say to be very clear, even though it's very likely that the u. s. experienced the 2nd quarter of negative g d p growth, and with that they will be released tomorrow. morning $830.00 us eastern time. that is not a recession because the job market and, and other economic indicators are really strong and, and many of the drivers of economic activity consumer spending will still remain positive. it's just, you're having some inventory adjustment trade adjustments that are causing this,
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the to negative quarters, gerald cohen. he's a chief economist at the keenan institute of private enterprise. thanks very much. thank you. lead, frankly, get some market reaction to that fair decision. our correspondence had teddy austro is standing by, so he will had a tight road to walk. he needed to show he was serious about fighting inflation without moving the markets. did he manage while the stocks are certainly rallied today? the indexes are up after the fed meeting. this is perhaps indicating that the markets do indeed trust the federal reserve and fed chair jerome powell and tammy inflation, which is raging across the united states right now. but let's remember that the stocks have rallied after several of these fed meetings, and that doesn't necessarily indicate that these gains will actually hold. the question now is tomorrow, what we'll see,
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what the g d p figure figures. markets are still haven't forgotten about that are, were recession. we'll see where the wind blows, powell of coursing, we are not in the recession, but as we say, there's not, that's not the only thing going on in markets right now. the big foreign tech are releasing their earnings this week. what do we heard so far? well, the talk of the town today is the meta figures. we are actually seeing that and better has done its 1st revenue decline in its public history as a company. so this is coming after microsoft an alphabet doing better than had been anticipated spending stocks rally, but we'll just have to see what amazon, what, what apple, what info and qualcomm have in store for the rest of the week. thank you. teddy auster there for us. staying in the us, as the pandemic reshape the world of work, there has been a resurgence of the labor movement with unions becoming more popular in april,
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the 1st successful amazon union in new york made headlines across the world. many of the retailing giants, workers in the u. s. want the same, including one organization in north carolina. the adobe went there to find out more . or brian brown is on a mission. he's on his way to his workplace, and amazon warehouse in gonna north carolina. his to president of course, carolina, amazonian, st. united for solidarity and empowerment. a group trying to build a union at this facility. it's one of the only handful across the u. s. ryan and his fellow organizers say they're fighting for better working conditions. because amazon has unrealistic expectations and they want better pay, living wages. our number one priority is that we work a hard, green hours. we worked on an honest job and we generated so much, well for jeff bezos. but then wealth didn't,
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none of that will trickle down, so's amazon tote as their work is do, receive competitive salaries and peg. and this is what they told us about unions. our employees have the choice of whether or not to join a union. they always have as a company, we don't think unions are the best answer for our employees. our focus remains on working directly with our team to continue making amazon a great place to work. back of the warehouse in north carolina. these 4 cas say they are determined to organize and confident it will happen. i believe peter hagler, we are going to do the leaves near to happen and that we will be ignored. let you know we're here. you see that you see us here today? ah, to be quite honest, they don't know what to do. if they do, they will face an uphill battle convincing amazon to join them at the negotiating
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table for collective bargaining. german airline, lufthansa has cancelled more than a 1000 flights due to a strike by ground stuff. unions want a nearly 10 percent pay rise for $20000.00 workers. perplexed, look at flight display boards. long lines in front of counters were stranded. passengers hope to catch an alternative flight. the latest strike lead by the very union has paralyzed germany's largest airport in frankfort. we had to cancel basically all of the flights for today from frankfurt, and from munich. that means that way, over a 100000 people are affected by the strike. many of them are passing through to get to their next destination. and many of them feel left behind. i got a cancellation message to the same morning were traveling a, but nothing more. i've tried to reach them by shots and by, by phone,
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but there's nothing not coming through these people who are on strike. i think they have reasons. i did not follow on this, but somehow maybe that can be better organize or parents. they're traveling to nigeria. so it's like when, if we don't get a fight back in like a few days, then we'll be able to see them like almost 3 months. the number of travelers spiked during the summer, but the number of staff had been thinned out during the pandemic. many of the remaining employees complain about being overworked, they're also demanding significantly higher wages in response to high inflation. the omnia hotel, i know many employees are taking part to day. and from our viewpoint that shows that staff here are completely overworked, look, love, time to let go too many people during the pandemic. and now it's having a hard time replacing them yet they need a clear signal at their pay will go up and that more jobs will be created. noise
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has on either phone and yet the union is already threatening additional strikes. things are not looking good for those who want to take a relaxed vacation after staying put during the pandemic or a correspondent christy plaids, and told us what she'd seen at frankfurt international airport. the line of lufthansa passengers behind me waiting to be re booked on to new flights has gotten shorter throughout the day, but it's still just a fraction of over 90000 passengers that were affected by flight cancellations. here in frankfort today, lufthansa told d w that their main priority is this court sorting out this chaos as soon as possible and getting their customers on to their destination. but they are already looking ahead to next week when they plan to go back to the negotiation table to talk to their employees union representatives. the union said they are willing to strike again if we're transit does not come back with a more generous offer for their employees. and they're not alone in their protests . scandinavian airlines employees as well as airline employees in france,
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have also strike the summer. and now spanish employees of ryanair said they to will start striking in august. the airline industry has struggled to keep up with massive travel demand the summer. and it's employees that are feeling the brunt of that work and also feeling the bite of rise and consumer prices. d. w is christie, plaids in there, and you're up to date with d. w. business. thank you for watching into the conflict. so with sebastian, more than a 100 days of war in ukraine, on the back over intensified my here. this week from brussels is new book to both got the advisor to ukraine's armed forces. how long can care rely on west long as evaluation? committee really trust conflicts on d. w hunting down islamic state fighters,
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a network of private citizens and journalists has been trying to track down. she had been hiding here the time and time again was tough because escape who's wounding them. of a being protected by the authorities. hello, fit legacy in 45 minutes on d, w. ah, hello guys, this is the 77 percent. the platform for africa is used to beat issues and share ideas you know, or this channel. we are not afraid to happen delicate the tub because population is
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growing fast. and young people clearly have the solution. the future belongs to you. is 77 percent. every weekend on d. w. a. more than a 100 days of war in ukraine and the battles are intensifying. ukraine's losses have been severe. since invading russia has occupy the 5th of the country and is pounding leased and dumbass, which it seems determined to occupy. how long can care, rely on western arms and ammunition? who could really trust my guests this week from brussels is lou both to both go advisor to ukraine's armed forces, along with her government. she's been angered by president macros, phone calls with vladimir putin, and he's want.


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