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tv   Business - News  Deutsche Welle  April 14, 2022 5:15am-5:31am CEST

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oh, well that's it for now, rob, what says next with the top business stories and remember you can always get all the latest news on our website. it's d w dot com follows on twitter and instagram as well at the diabetes. i'm told me a lot ago any thanks for your company. what does more do to people are hatred and violence inherited from generation to generation and award winning documentary searches for answers for 2 years. the all camera companies that sell a fist family in northern syria insights into the isolated world of radical islamists and into a spiral of violence without end. a
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film about family, faith, masculinity with a father's and sons starts april 16th on d, w. ah . the sharp end of a global inflation spike. the latest figures show argentina could see prices rise 60 percent this year. we'll ask how it's ended up with one of the highest rates in the world. as germany is urged to stop importing russian gas, we'll visit a region banking on l. n. g being the future. estate of your business on robots in berlin. welcome to the program. inflation has become a global problem. but while european and north american countries are battling
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annual rates in the single figures in latin america, it is a different story. prices in argentina rose by 6.7 percent in march alone, putting the country on cost or inflation of over 60 percent this year. as their spending power plummets, argentinians are taking to the streets. they are sharing their meals and their concerns. demonstrate a sienna gen tina's capital bonus iris are demanding more support from the government as inflation and constantly arising from prices drive people to despair . never forget what, oh no matter how much we produce, we're still poor poorer and poorer because inflation is eating away from your home or is it the salaries? wherever you are, were you that in 2021. inflation was over 50 percent. the central bank has already raised the key interest rate 3 times this year, but even a staggering 44.5 percent is not enough to compensate for inflation. the situation
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is just as bleak in other latin american countries, peru us also experiencing historically high inflation. prices of sugar, potatoes, and carrots have doubled. meat has become an affordable for many with a boon daily, that healing the rise of inflation room is the same. the whole world has been experiencing since the 2nd half of 2021. and it's worse and due to the russia, ukraine, war era, ruthie, i will get on you many residents, so for a sub ups in lima can no longer afford to go to cheap soup kitchens. some of them even had to close. they were no longer able to buy enough affordable ingredients as a discussed situation, knowledge and tina and beyond and joined in the studio by have yeah, i'll get us from the d. w. spanish service. thank you very much for joining us in the studio. can you just take us through how argentina has found itself in such an
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extreme situation when it comes to inflation? well, of course, a situation like this doesn't happen over night. it's a wide array of mistakes in the past by argentina, but also by international lenders. and other governments that has led to this ultimate but there are 2 important aspects. first of all, argentina for decades has been spending far more than it can afford. and the country has been trying to relief all those economic problems by issuing more money on the 1st place, which of course causes inflation. and then also by acquiring more debt that the country has not really been able to pay for at least not in an orderly way. the immediate consequence is a lack of trust by international financial markets and investors who don't want to bring money into argentina, which is needed. and most importantly, there is no trust within argentinians themselves in their own currency. they try to save money and to buy products and services with us dollars, for example, instead of the national vessel. and this further weakens the currency and therefore
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it causes more inflation and says, looking to sort of vicious cycle, isn't it? interest rates of already 44.5 percent. so where can the central bank or the government actually go to get on top of this? unfortunately, there's not much the central bank or the government can do at this point because this latest spike in inflation is international and it is caused by external factors. i mean, if we want to buy a bottle of water in the vending machines here at the w, we have to pay a 10 percent more and we're not in argentina, we're in germany, right? so there's a limited range of action, but there is an internal problem within the argentinean government, especially between the president of benefit man this and his vice president could be seen of it. and under the kitchener, apparently there is no harmony within the government. and that again, it's a problem of trust causes even more lack of confidence in that the government has a plan and then it can actually implement any of the measures that will bring relief. it's not just argentina, there is that, i mean, inflation is particularly acute across latin america, one of the implications of that. well, the 1st implication, unfortunately,
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is that we'll have more poverty across the continent. because if people can't afford their most basic goods, they fall under the poverty line. but this can also lead to social unrest. and this is a problem in latin america because it can cause political instability. not only because people can essentially revolt against the acting government, but also because it can be easily used by populous candidates from the left or the right to actually make use of that discomfort among the populations. and therefore, put a government in place that can worsen eventually the problems in the countries. ok to us. thank you very much for taking us through one of them. now let's take a look at some of the other global business stories making the news. a group of twitter shareholders are suing a long musk, accusing him a failing to announce his recent acquisition of twitter shares in a timely manner. doing so would put him in violation of us securities laws. must cat announced at the beginning of april. he held 9 percent of the company stock,
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taiwanese iphone, make a peggy tron has halted operations. major subsidiaries in china, g debating strict 0 coverage locked downs, the suspension smart, the latest blow to apple in march. major supplier focused on how to operations in the chinese tech of, if sion, gen delta airlines has posted a loss of $940000000.00 for the 1st quarter. fuel costs for the u. s. carrier have increased by a 3rd since the end of last year. does a chef, however, jumped on use of a search bookings in recent weeks. let's gamble on this from correspondent on wall street. young core to young is good to have you with us. so things are starting to look out for us airlines wrap it to definitely dust and dust also reflect them in stock prices. you mentioned delta stock up by more
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than 6 percent and the rent their session are low and other airline stocks also traded to the upside. boeing, the play maker was the biggest winner in the del jones industrial ever. it's, i mean, clearly at the beginning of the year, the situation for the airline industry was the tough with ami kron not just the passenger side away from flying. but also you had crew members who had pilots getting infected and thousands of flights and had to get cancelled, but things clearly got better, especially in march and the ceo of delta actually called march the best month in the company history. so we are basically in records territory, and even if capacity is still not at 100 percent red, used to be before the pandemic, the airlines are capable of increasing at the price. and that helps them even to deal with those sky higher fuel costs that we're seeing. and the outlook of also seems quite positive. delta, for instance, believe that they will manage to be profitable in the 2nd quarter that scott is not
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okay in quarter in new york for us now, the german government is under growing pressure to stop importing russian gas, chancellor, olaf shouts accepts the country. does need to end dependence on moscow for a significant proportion of its energy, but appears to favor a more gradual approach. liquefied natural gas is seen as one of the great hopes for replacing russian imports. and one part of germany. it's getting ahead of the game. sometimes progress comes in small packages, in this case a box containing a $7000.00 page application for a new liquefied natural gas terminal. in the town of starter, none of the other ellen g sites have reached the application phase as of yet. but you'll get german bureaucracy can be as fast as the autobahn because we are now lot of pressure. it's scary. it had to come to this that the warn ukraine and the guess
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independence we want to establish what is forcing us to speed up in terms of infrastructure developments. partial to political will paves the way the plan tankers will begin delivering liquefied natural gas to germany via this terminal as early as 2020 for 2 years earlier than previously plant. but the terminal could be too little, too late. germany currently relies almost entirely on russian gas pipelines. lindsey pays if you are totally dependent on pipelines. then in a political crisis, you have no way of importing liquified gas quickly input here. but let's say lindsay, if you have a guess terminal, and there are problems in one supplier, country, then you can still sent the tanker to another country. and under the luncheon, until ellen g terminals are built in germany, special ships like this one could be a temporary solution. they convert the liquid back into gas, they mo bile and could be rented with one said to be stationed in val helms,
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half next year. potentially replacing a 5th of the russian gas germany currently in ports. but more infrastructure is needed, such as a 20 kilometer pipeline, connecting the ellen g terminal to storage facilities. the company's been given 8 months to build. it was i, the owners took the final investment decision last week. so we've already ordered pipes at the stage. and although we don't have any official approval yet, we're hiring engineers, planning a turbo speed without approval. it won't be an easy right. as the gas pipeline is set to run residential and conservation areas. he's of these ellen g terminals i hazardous operation. it's like got to be properly licensed and you just can skip the environmental impact assessment of what the process is already expected to trade. a law suits from residence and conservationists and the pipeline will be expensive to 100000000 euros have been budgeted for the starter and
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williams half terminals. 250000000 for another influence bottle. the amazons i've off, but recently have to realize that energy security isn't free, it costs money. it's a public good us and in my view should never be left to industry. are global markets alone will buy and math lesson via gas instead of renewables. the war in ukraine is forcing germany to act. in the long run, however, the terminal inch daughter is supposed to help protect the climate as well. instead of fossil n, g green, hydrogen could one day be imported there. to cipher reminder of the top business story that we're following for you. this. our prices in argentina raced by 6.7 percent in march alone and putting the country on cost for inflation and over 60 percent this year. thousands of demonstrators have taken part in country wide protests over living conditions and recent nato from maine. the
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business team here in berlin, if you like, mo, from us, you can head over to our website, that's d to we dot com slash business. you can also see cuz out on the news, youtube channel one out, check out, check out our series at business, beyond the lakes of the bridge is about the new space economy. we're also a facebook, as well as w dot business next time with into the conflict zone with sebastian fresh allegations with russian forces my big ukrainian civilians outside kiev rapidly found my way to the un general assembly. because russia really care what the world thinks about the invasion, my guess is week from moscow was a former deputy for a minister on very few other conflicts own next on d. w. how long does
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a or an eternity time? it can be measured precisely. and yet each person experiences it differently as if there were different forms of type type of phenomena, a dimension and illusion. in 45 minutes on d w with, ah, we're all good to go beyond being obvious. as we take on the world, i do understand we're all about the stories that matter to you.
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whatever it takes to find policeman a deal we are here is actually on fire made for mines fresh allegations with russian forces murder, ukrainian, civilians outside key f, have rapidly found a way to the un general assembly 93 countries voted to suspend russia from the un human rights council, a humiliating move of moscow, immediately condemned as illegitimate and politically motivated. but as russia really care what the world thinks about its invasion, my guess this week from moscow is perform a deputy foreign minister. i'm very few other up. as russia finally acknowledges significant military losses that mr.


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