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tv   Business - News  Deutsche Welle  July 31, 2018 3:02am-3:15am CEST

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a wreck or drought grips germany's breadbasket farmers day they've never seen anything like it and are worried about their livelihoods also coming up the symbolic way decides or is it the economy that will decide this election investors watch closely to see who will be charged with pulling the country out of it cash crisis. and the new color of caution analysts warn about investing in vanilla as the spice becomes more expensive so. this is your business update on how at home for a good to have you with us i hate to rain on the parade of everyone enjoying these sizzling temperatures but the fact of the matter is that here in germany it hasn't rained for police since april and it's a real problem the record drought is threatening the livelihoods of many farmers and they want government aid to the tune of one billion euros to make up for lost crops is currently on clear whether they'll get it or not. from horizon to
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horizon with the crops. from a high coterminous harvest is history. and we've got to raise the three that we've been storing for winter nothing in the fields we can put the young animals out to grow they get winter feed in the sheds because there's nothing else the fields are totally scorched. like a turn of expects his losses to talk two hundred thousand euros and he's only one of the many farmers who face ruin. just beyond the we're facing the worst harvest of this century existence many from space the prospect of going under crop losses are in the range of fifty to seventy percent we're calling on the government for a crisis aid program. germany's farmers association would like a billion euros from berlin it says that would go some way at least to ease the effects of harvest which are projected to be well down on last year. farmers aren't
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likely to see any fast cash though margaret culture minister yulia klugman wants to wait and see what the final losses are before deciding at the end of august climatologists say the parched fields droughts and rising temperatures mean the future could already be upon us by the money because we keep going like we have been then by mid century we'll be at a two point four degree increase that would make extreme weather events like to rental rain and heat waves more frequent of all you wouldn't twenty one towns across the world this year even the far north east struggling with unusually high temperatures. well germany's one produces all better able to adapt to the hot summer the condition is a forcing bit as to harvest the grapes a lot earlier now again picking one week from now so on the sixth of august the german wine institute says this is the earliest harvest ever and it's expected to
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produce a very tasty tipple measurements taken in the wine growing region show that temperatures have risen every year since one nine hundred eighty eight. now zimbabwe's economy is in taxes off the four decades of robert mugabe's rule a few things symbolize this more than this it's the one hundred trillion dollar banknote that the country issued a few years ago during hyper inflation the country is suffering from a crash cash crisis and whoever wins monday's election will have the difficult job of fixing it investors shown the country under the rule of robert mugabe but he's not running for the first time in about forty years. so for learn egypt anglais did something extraordinary he kept his company james north in business through hyperinflation and the exodus of memphis during the mugabe years. but the maker of protective gloves and shoes took
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a hit nonetheless. he had to reduce the number of stars from four hundred to one hundred fifty in the last fifteen years he hopes the new government will attract foreign capital. having access to. capital will enable us to upgrade to the delivered play puzzle for clubs or for which worried we do have plans as to what is it that we need to create. the desired upgrades can only become reality as part of a wider economic recovery. zimbabwe's g.d.p. nearly half between two thousand and two thousand and eight alone. this caused the official inflation rate to surge to two hundred thirty one million percent in two thousand and eight. the new president will have to reverse mistakes from the mugabe of ministration revive farms and mines compensate whites whose land was stolen and stamp out corruption. experts hope that will allow the government to regain the
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trust of the international community and zimbabwe's people. if you're looking for a stake in his investment how about vanilla there's nothing plain vanilla about it is one of the most expensive spices in the wall up to six hundred years per kilogram that makes it more expensive than silver but if you want to invest in that they had better or so consider that it can be a risky business the smell of unmistakable but you need a good nose to sniff out the top quality stuff. like battle. field has a wealth of experience the trader from hamburg has been in the business the decades so he's seen plenty of ups and downs the cost of madagascar has exploded in recent years. pays around six hundred dollars a kilo and he still willing to pay he wants to have a constant supply for his customers you're missing. we always
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need to have it installed. and of course there's always the risk that the market will collapse and the price will drop to fifty or one hundred dollars against a prize of either all and then we make a loss. for most of the problem. even then there is packaged in how back into these cheaps packman used to sell to all three million of them and now it's less than a million he thinks one reason for the high price is people buying it speculative plain. vanilla is known as gold and. the country produces an exports around sixty percent of the global demand pool harvests also cause the price to go up that were heavy thunderstorms last year that make growing it difficult when going to lead becomes very valuable it's stolen from the fields farmers get nervous so they harvest too early and that causes a considerable drop in quality they're expecting richer harvests next time that
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would be supply and hopefully demand in how. people always say that high prices make global demand go down to you know. it's people will just do without but that's still demond not for long. because nothing beats real vanilla say the experts and it's subject to price fluctuations like almost any role material in the world. the worlds biggest earth moving equipment to make cats a pillar has raised to twenty eight hundred profit outlook after posting record second quarter earnings revenues were up by almost a quarter to ring in fourteen billion dollars the illinois based company credits the result to rising global demand especially in its business with china as well as increasing oil and shale gas production in north america caterpillar has been
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expected to use revenues because of the u.s. china trade dispute. so it's difficult financial correspondent yen score to own a wall street yes cassava seeming to shake off any of those trade tensions with china tom we expect this to last. there are some challenges ahead of caterpillar especially if you look at the higher tariffs on steel and. that in q greece's costs quite a bit to cater piller just here on a monday announced that cost because of the terrorists this year might go up by as much as two hundred two million dollars they're quite confident that they can come up was that it was increasing prices and then olds all the overall environment is not bad for caterpillar we saw material prices go up there also a big producer off equipment machinery for or the mining industry as you
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mentioned they hired there for cars for this year but wall street seems to be a bit skeptical and the stock actually traded to the downside by almost two percent talking about those tensions with the tyson the biggest meat producers in the u.s. issuing a profit warning to the ratcheting up of those trade tensions i mean tell us more about that. yeah the broader agricultural industry usually is one of the few industries here in the u.s. where you see a trade surplus meaning that those companies of the sector are export more then it imports but knowledge especially was tariffs was counter-measures from countries like china or mexico we do see that there was quite some pressure on the meat industry prices are falling if you look at shipping bread for example or also. those prices hit their lowest in about nine to ten
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a years and that's why tyson food is all the need to lower earnings expectations so quite a bit they will come out with their earnings reports by the way next week and the stock got hammered by almost seven and a half percent. yes corset a new york thank you. joel klein is working for ryanair have voted to strike as they push for collective labor agreements that europe's largest low cost carrier off the weekend talks failed the cockpit union gave the carrot till the sixth of august to come up with an awful ryanair canceled hundreds of flights last week off to cruise in spain. and on and went on strike last december pilots became the first ever to strike at ryanair but disruption was then limited cockpit says ninety six percent of pilots now favor a fresh walkout that will give twenty four hours warning ahead of any action.
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that set you up to date with the latest from the world of business from all find us on facebook followers on twitter at d.f.w. on the school business right now here's a look at the global markets i'll be back tomorrow see you then.
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