tv Business - News Deutsche Welle November 19, 2020 7:15am-7:31am CET
the top story we're following for you here today on t.w. news. the u.s. death toll in the coronavirus pandemic has surpassed the quarter of a 1000000 people. the country's largest city, new york district, closed all public schools again thursday. as it fights a resurgence of the bars. that's all you news from the business news is coming up next with monica. i'm sorry, mark, thanks for watching from let me come to bobbie popstar, rails against homophobia violence despite coming from a poor family to become president. and
he challenges are credible story starts december 10th, g.w. . can the e.u. agree on a fiscal response to the code 19 crisis national interest on the new budget, which includes a much needed 751000 rescue funds? we talked to a number of germany's economic council also coming up a sooner than expected vaccine approval. we get some reaction from the trading floor deal or no deal. time is running out for brussels in london to ensure its trades
come january the 1st along. welcome to do business on want to get johns in berlin. good to have you with us. well, your leaders in brussels today are trying to fire. emily, reach an agreement over the blocks, coronavirus pandemic response and possible financial aid for the hardest hit member states. hungary and poland have so far blocked approval of the e.u.'s budget, which included a $750000000000.00 euro coleridge recovery fund. as the political wrangling continues, member states have adopted their own fiscal stimulus measures to support their economies. germany is providing almost 40 percent of the last year's g.d.p. to provide relief. the stimulus measures include government participation companies, the 80 reduction and short time work allowance. and how does all of that work out? well, for more i'm joined now by she is a member of the german economic experts council. the so-called bush standing
upright and she search air of comparative economics at the newsweek maximillian university in new nick good to have you with us. now i understand that you and your council colleagues expected germany to cope well with the pandemic. why is that? well, we actually have seen a strong recovery in the top quality of the year after this very beginning. so things look actually quiet or hit as long as the 2nd wave of the interaction can be contained. i mean, there is a fine, it's up to all of us, how we behave, and whether it will be possible to contain the 2nd wife. indeed, i mean, right now, the latest figures show just again out by the robert capa institute, that numbers are up again. so yes, we'll have to hope for the best and all do our bit to contain this pandemic. but compared to other major economies in the west, i mean,
let's look at the united states. they've provided around 40 percent of last year's g.d.p. in coronavirus relief, britain around 25 percent of its g.d.p. . now germany is actually quite a generous with its support in the long run, how sustainable is that? well, germany is in the very bad position that the far cry as a society, its debt ratio was down to 60 percent from 80 percent, which we had 10 years ago after the financial crisis. and so within 10, yes, we actually measuring to yourselves that rational, very considerably. and this is now gives us the chance to take on debt favorable interest rate and negative interest saved even. and that gives us the you wage will actually give generous or parts to the companies who are affected by the prices at the same tam even thought there is this very generous
a relief package received at our 2. now it's not to be used for leaves are, there is still a large are some part of it may have been there any use if the grasses should be getting worse. right, and i of course, i don't think anybody, only very few people are actually looking to a sort of state run economy. even though right now we have all those subsidies to this thing that this crisis is going to be a game changer in the kind of economy, the kind of system as we know it is a party even an opportunity for, for real structural change. oh, expect. so we see a major detestation course and that is going to change bad a bit. so we see people working from home. we see less crime. you want to not are, i would expect that a lot of travel or are they just business related or will be reduced our air that could be a major, major change, which is good for the guy and that it's not so good for the bad business. are we
also see people even market online trading? ours are now shocking. and again, there will be a major change at this crime. people who are very aware that this will lead to a war and our city center. again, it's a question of how you are going to as things are you do urban planning, saw that there can actually be a chance to make that in a city has a track that has as places to meet again. and once there it is our right now looking beyond germany and all those national measures because we're not living in a bubble, we're part of the european union and the e.u. struggles right now to get its relief fund up and running. there's a political squabbles going on. what's this tell us about the e.u.'s fiscal responsibility?
well, it tells us if we're not managing to get this recovery from now on the raj, that we are in trouble. that something needs to be changed structurally passed, or it was such a positive signal that the members agreed on. this are strong markets. and if you're not making this available now, something's wrong, it really is a bad sign for our, the e.u. project as a whole. and so this makes me very, very much hope that people call themselves together and actually make this happen because it's needed so that all of the current release that was from the pandemic actually made a move forward. and we can now invest in things that happen to grow the pandemic, and that is what we need when it has notes of their member of the german economic expert council joining us from munich now. thank you so much. thank you.
well, some good news. hopefully he wasn't european regulators could approve price and biotechs experimental code at 9000 vaccine. as early as mid december. that's according to the german company's boss, following results of clinical trials which showed a 95 percent success rate with no serious side effects. the u.s. food and drug administration's vaccine advisory committee is expected to meet in early december shares and jumped nearly 5 percent on the news. and pfizer is by more than one percent. well, before christmas knowledge should be music to investors, ears, and advice, but joins us now. in frankfurt, and there's a how optimistic are investors here in europe, that a vaccine will come our way sooner than expected? well actually there was a lot of fixie in optimism already in the markets. we have seen a almost record at most likely a record rally for november when it comes to accurate to say in europe. so there is
a lot of optimism and a lot of hope that the vaccine comes from earlier than expected by one actually also has to look at the reality. and that's what investors are now doing as well. they're kind of, it's a bit of a more of a sober approach now because clearly, even if they have a fast track to approve of the 1st japs could be out by early january. but they value in texas also saying that they most likely in the 1st round, can provide some 15000000 doses, which them would mean a vaccine for 25000000 people. so it is only going very slow in about process, but of course that's good news and that's already priced in. i would say a little bit of a silver lining in a very long and dr. rice and of us both in france and thank you so much. and now to some of the other global business stories making news. the u.s. federal aviation authority has cleared boeing, 737 max to fly again,
provided the aircraft are fitted with software upgrades and pilots are given special training. the planes were grounded last year after 2 crashes which killed nearly 350 people. both accidents were forced by force and the flight control systems. the cost of damages from cybercrime is rising steadily, says europe's biggest insurer, allianz, and analysis among several insurers. over the last 6 years, shows claims related to cybercrime have grown to $660000000.00 euros at a rising each year. and also says hackers are increasingly selling their software to other criminals so we can add, has asked an irish court to oversee a restructuring of its massive debt as it tries to stave off collapsed during the pandemic. last week, norway's government rejected a request by the low cost carrier for more aid. the airline has wanted could run out of cash in the 1st quarter of next year. another big
topic at the e.u. summit today is going to be yes, you guessed it breaks it. the transition period ends in a little bit more than 6 weeks from now. and then will there be a deal to ensure smooth trade between the e.u. and the united kingdom, or will there be chaos come january, the 1st of many companies braced for the last of these goods have to arrive on time. otherwise, this transport company will lose customers. that's why 20, fully loaded trucks leave from this depo in southeast england. every day. they deliver to france, italy and spain, among others. but starting in january, the chaos begins. what for our company was going to be? it's going to be pretty bad obviously because most of our t.v. it is going to be over europe obviously is going to delay all our operations. i mean, is it going to cost is a vast amount of money,
a trade deal, or a hard bricks. it with high customs duties, no $1.00 knows what will happen after the transition period. lorenzo is doing all he can to prepare his drivers, but he feels ignored by politicians. to make custom clearance these permits and everything else. they should have had one or 2 companies. on the trial period of 6 months and see how it works. the company can see where all its trucks are from the control room. the green they see now will soon turn red after brakes it experience on the 1st of january. there's going to be either lots of chaos around these parts of europe, into an interview on our part of our focus right here next to the highway. the government is building a customs clearance facility, measuring more than 100000 square metres. hundreds of trucks will be processed at
this site every day, but britain's breaks it preparations still have a long way to go with just 7 weeks before the brakes a transition period and it's still not clear how things will proceed starting january the 1st. only one thing is certain, there's going to be chaos. that is your business update here on g w at this hour for me to check out our website. do double, you could dot com slash business. we're also on facebook and on twitter. so do as up there for me in the team and berlin in the meantime. thanks for joining us. you know that
with different languages. we fight for different things. that's fine. but we all stick up for freedom. freedom of speech and freedom of press. giving freedom of choice, global news that matters, made for minds. just when things were looking up, everything shot down again. the 1st lockdown was a nice chance to take a bit of a break for us lucky ones. and if you managed to remain untouched by the bars, fix a few things around the house. read lots of books, learn to bake bread, but it did drag on and now partly because some people let that god down.