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tv   Business - News  Deutsche Welle  July 31, 2018 7:02am-7:16am CEST

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a wreck or drought grips germany's breadbasket pharma say they've never seen anything like it and they're worried about their livelihoods also coming up to involve 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 its cash crisis. and the new color all of caution analysts warn about investing in vanilla as the spice becomes more expensive than so. this is your business update on how the home free in berlin 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
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and they want government aid to the tune of one billion euros to make up for lost crops is currently unclear whether they'll get it or not. from horizon to horizon with the crops. from michael turner was harvest is history. we've got to raise the feed we've been storing for winter nothing in the fields we can put the young animals out to graze they get winter feed in the sheds because there's nothing else the fields are totally scorched. heiko turner expects his losses to top two hundred thousand euros and he's only one of the many farmers who face ruin. facing the worst harvest of this century existence many farms face the prospect of going under crop losses are in the range of fifty to seventy percent and we're calling on the government for a crisis aid program and. germany's farmers association would like
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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 likely to see any fast cash though agriculture 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 but that would make extreme weather events like to rental rain and heat waves more frequent. he wouldn't twenty one times across the world this year even the far northeast struggling with unusually high temperatures . well germany's wine producers are better able to adapt to the hot sun weather condition is a forcing bit as to harvest the grapes
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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 produce a very tasty tipple measurements taken in the wine growing region show that temperatures have risen every year since one thousand nine hundred eighty eight. now zimbabwe's economy is in tatters off the four decades of robert mugabe's rule of 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 shun 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
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hyperinflation and the exodus of memphis during the mugabe years. but the maker of protective gloves and shoes took a hit nonetheless so full on he had to reduce the number of staff 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 of a puzzle for clubs who. would we do have plans as to what is it that we need to upgrade. the design it 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 mugabi
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of ministration refinery farms and mines compensate whites whose land was stolen and stamp out corruption. experts hope that will allow the government to regain the trust of the international community and zimbabwe's people. if you're looking for a spanking as an investment how about vanilla there's nothing plain vanilla about it is one of the most expensive spices in the wall and up to six hundred euros per kilogram that makes it more expensive than silver but if you want to invest in the deli you bet it was so consider that it can be a risky business the smell of in the is 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 for decades so he's seen plenty of ups and downs the cost of madagascan vanilla has exploded in recent years. packman pays around six hundred dollars
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a kilo and he's still willing to he wants to have a constant supply for his customers. you're missing. we always 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 a hundred dollars against a prize of either all and then we make a loss. from a stunt on. the wrist packaged in heaven back into these cheaps ackman 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. and then it is known as black 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 made growing it difficult when vanilla
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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 ever expecting richer harvests next time that would be supply and hopefully demand in hamburg to. people always say the high prices make global demand go down work you know. it's people will just do without but that's still the mom to be for. because nothing beats real vanilla say the experts and it's subject to price fluctuations like almost any roll material in the world. the world's biggest earth moving equipment to make us caterpillar has raised its twenty eight hundred profit outlook after posting record or second quarter earnings revenues were up by almost
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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 expected to news revenues because of the u.s. china trade dispute. so special financial correspondent yen is core to on wall street yen is castable a 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 caterpillar just here on a monday announced that costs because of the terrorists this year might go up by as much as two hundred to million dollars they're quite confident that they can come up was that it was increasing prices and then holds all the overall environment is
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not bad for cater pillow we saw material prices go up they're also a big producer off equipment at machinery a fraud the mining industry and as you mentioned they hired there for cost for this year but wall street seems to be a bit skeptical that the stock actually traded to the downside by almost two percent talking about those tensions with the tyson the biggest meat produce 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 door export more than it imports 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
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prices are falling if you look at shipping bread for example or also. those prices hit their lowest in about nine to ten a years and that's why tyson food saw the need to lower earnings expectations quite a bit they will come out where's their earnings reports by the way next week and the stock got hammered by almost seven and a half percent. a new york thank you. joe klein is working for ryan and have voted to strike as they push for collective labor agreements that europe's largest low cost carrier off to weekend talks failed the cockpit union gave the carrot still the sixth of august to come up with an offer ryanair canceled hundreds of flights last week off to cruise in spain is really should go on and on and went on strike last december german pilots became the first ever to strike a ryanair but disruption was that limited cockpit says ninety six percent of pilots
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now favor a fresh walkout that will give twenty four hours warning ahead of any action. that set you up to date with the latest from the world of business from all find us on facebook photo us on twitter at d w on the school business right now here's a look at the global walk is i'll be back tomorrow see you then.
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for inspiration. means we want to stress to your facebook and twitter up to date and in touch. people make fun about their own social economic and political problems. in mozambique we say that you have to ask so you don't try to it's help people call me daily purposes. as a journalist i still talk about this focus and that binds me to less the look of. a lecture staff my day by checking all those jokes finding out what people have talking about what is moving them. my father taught me how to ask and confess to
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