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tv   Business - News  Deutsche Welle  May 17, 2022 5:15am-5:31am CEST

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is nesbit, my colleague rob watson, remember you can always get all the latest news and analysis and our website, d, w dot com. i'm told me, laddie block, any thanks for watching. ah sh her. i'm scared that i think that's hard and in the end is a me, you are not a lot us to you anymore. we will send you back her. are you familiar with this smokey's reliance beef? what's your story. ready ready i mean, like numbers, women, especially victims of violence in a lot of them take part and send us your story. we are trying always to understand
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this new culture. so you are not a visitor, not the guests. you want to become a citizen. in phil migrants, your platform for reliable information ah, preventing the next big ship shortage representatives of the u. s. e u meeting in paris agreed to cooperate to end their lives on the rest of the world. the semiconductors was that coming up fast food just mcdonald is taking its restaurants out of russia, but asked why an icon in the country shift to capitalism. and it's leaving for good on the war. and ukraine has made getting goods from europe to asia, especially. it's bus one fight over to seen as 2 important to block.
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this is need to be business on robots in berlin. welcome to the program. brussels and washington are to set up an early warning system to detect shortages of semiconductor chips. the decision has been taken that the 2nd e, u, u. s. trade and technology council summit taking place near paris. the 2 sides say though each aim to boost domestic production and provide the maximum possible subsidies to the industry. officials are also planning joint measures against cyber attacks, especially from russia. in china. and i correspondent, in paris on your found the car has been speaking to you, competition commission and margaret of a stair. she asked about the new plans to shore up semiconductor supplies as the work we do on their semiconductors. to fully understand why did we have the shortage to work together for the future to make sure that we remain strong.
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because i think that's a main task in the do politics of to day. that like minded partners, that we work much closer together than what we have done before. i go to the stair was speaking to our correspondent sonton sonia found the car, alaska, mo, from sonya, i asked her why the meeting in paris had particular importance this year. the u. s . you trade and technology council was, was initially set up last year as a, as a mechanism to, to smooth, treat tensions in the transatlantic relationship. but you're right the, this, the are the overarching focus has really been a rushes and vision of ukraine and disruptions to global trade and supply chains. a bachelor's cause. and one of the reasons for, for this focus on russia is that the trade and technology council has been actually the one that has been driving coordination between the when the u. s. when it comes to sanctions against russia, as when the so called, you know, do, will use export controls. now, these are globes on companies that have been exporting goods to russia that could
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be used for military purposes. so this is all been about kind of limiting rushes access to advanced technologies for things like drones and semiconductors. we've also been hearing about ways in which the eurozone you intend to cooperate on certain things. i like semiconductors. why have we been hearing from the meeting? was the result of it all been well, what we've got to do from delegates on both sides is really a lot of condemnation of the ongoing russian aggression in ukraine. also a lot of solidarity for ukraine and, you know, efforts to rebuild its economy. one thing that has been discussed today is facilitating easy access, the ukraine to you at u. s. markets, by temporally suspending a customs duties on imports from ukraine. another big focus has been, you know, trying to figure out how to combat a information manipulation and misinformation, propaganda from russia, as well as disinformation campaigns from russia,
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incurred countries relating to its invasion of ukraine. and the tod big area i would say is really about semiconductors. what you mentioned really trying to figure out how to diversify and secure supply chains, but also try and pinpoint and predict, you know, further shortages and disruptions in the future. russia obviously really coming across as though the major out of history from this meeting, but in the same time as the specter of child china over the whole thing is unmarried. so essentially there isn't that what this e u u. s. counselors is all about competing with will you right, rob? i think china is really the elephant in the room. you know, the biden administration tends to see the trade in technology council as a platform to, to kind of combine u and u. s. economic and military might to, to counter china's emissions. many of the initiatives of wisconsin were initially directed to china, but if you look at the joint statement that was released today in paris,
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there's hardly any mention of china. so the, so that there's a real disconnect there and i think one of the other problems with you has a completely different approach. officials in the you are always keen to stress that this council is all about working together and is not directed at any one country. but i think the fact remains that many of the things discussed today. you know, whether it's supply chain, semiconductors, even europe, green transition. china does tend to play outside role in these areas. you know, just to give you one example. china is a dominant player in key parts of the value chain. when it comes to renew boots, you know whether that's solar, whether that's wind or even electric batteries. ok, so you're falling car in paris for us. thanks for keeping an eye on that summit for us. moving on mcdonalds says it's pulling out of russia for good. the u. s. fast food chain had said it was temporarily closing 850 out as shortly after moscow sent troops into ukraine. the now says it's looking for
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a local buyer for all of its russian sites, which will no longer be able to use mcdonald's name or menu chain says it's priority is ensuring it's $63000.00 employees in russia. continue to be paid until the sale goes through and almost opened its 1st restaurant in moscow month 30 years ago, shortly before all the soviet let's get more on this from a financial correspondent to new york teddy australia. teddy, lovely to have you with us. can you just explain to his exactly what's behind this decision from mcdonalds, how they explained it? well, it's just an important to mention again, just how major a shift. this is for russia and for mcdonalds, as for the reasons we can talk about the politics of it. there are major political pressures on the company to not do business in a country that's invading ukraine. we can talk about the sanctions and the difficulty of legal compliance, but i think this is
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a finance story. really mcdonalds is making a bet that there is no good business to be done in the country, at least for the foreseeable future. and there are going to be major implications beyond the corporate sphere because of it. so somebody comes down to business. if mcdonalds is taking this business decision, now we got to be seeing other american firms taking a similar one. well, let's remember, mcdonald's was kind of a pioneer in to russia 30 years ago when they opened up shop. 30000 people came on opening day. this was a moment of promise for russian people of integration into american and western consumers society. and now it seems like we're seeing a reversal of that and mcdonalds is just one player. we see. we've seen starbucks, we see in pepsi, co, we've seen coca cola all make la limits to their involvement in russia. so i think this moved by mcdonalds, really is just a part of
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a trend of american firms leaving the country at sydney. symbolic isn't that, i mean, a lot of people will remember those pictures from 1990 of those long keys. people came for hours to get their 1st big mack in moscow. teddy aust show in new york for us. thank you very much. now to some of the other global business stories making use around the world. when i says it's selling it's majority stake in russian car company after vows to this state proposed leaf just warm rubel. and there is a 6 year buyback option is the 1st major nationalization of a foreign business in russia since the war in ukraine began. laudermill polanski says his country is facing a monthly $5000000000.00 budget deficit due to war related costs. ukrainian president brought up the spend increase your squeezed during a video conference with the international monetary fund saying afterwards,
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he's looking forward to working with the i, m f to maintain ukraine's financial stability. european commission has lowered expectations for the blocks economy, forecasting growth in the e u, and your as own of 2.7 percent this year. as down from the previously expected 4 percent, inflation is expected to hit above 6 percent this year, driven largely by energy costs before falling next year. to below 3 percent. nourishes war in ukraine has thrown a massive spanner in the works for the movement of goods around the world from bombarded ports to closed air space. the hurdles facing logistics companies are significant, but one route it seems, is too big to fail. the rail route, connecting europe and china. now at the moment cargo ships are having to make long detour as rush and ports are being shunned as our russian airports. western cargo planes are having to cover much longer stretches to avoid rush an air space. here
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things can still be transported directly related to so growth is still in operation . the route between europe's biggest inland port induce book and china's economic centers is part of china's belt and road initiative. the new silk road. it's 11000 kilometer rail root carries some 200000 containers annually and partially crosses through russian territory for china and the e. u. it's an important project and for that reason has been largely spared from sanctions. you also shall bomb in law by russian railroads have been put under sanctions to the extent that no one in europe can buy or trade russian state owned rail bonds or the absence on using russian rail or fulfilling existing transport contracts is not prohibited or under sanctions. of in the commission has made it clear that there were land root between china in europe is also in european interests. of course that could change at any time. here,
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everything has already changed the ukrainian port of mar, you, paul, has been completely destroyed before the war. it was an important export hub. ukraine originally had 3 big ports. the crimean city of sylvester boy was annexed in 2014 by russia. mar, you poor has been devastated in the latest invasion. and odessa is under russian bombardment. the ports are vital for transporting grain. before the invasion. ukraine supplied food for 400000000 people. 10 times the number of its own population production has dropped because of the war. and export in grain has become more difficult. what was once transported by ship now has to be moved by rail. the problem there obviously is finding enough cars or great knowledge. i bulk haulage ability. so take the,
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the volumes that used to go out. i share the cost on at least double weather in the cargo shipping air or train sectors. the war is presenting logistics companies with challenges. ultimately it's consumers worldwide who will pay that's office to buy. fearing the ocean, portugal is terrified of the high atlantic tide. the waters are flooding stretches of its coast. villages aren't risk of disappearing. and the residents feel powerless. give us how to start to see coastal crisis in portugal. tucson next on dw,
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she came to party, but found dead. and american tourist amberlynn died from an ecstasy overdose, a tragedy. but for insiders, not a 1st with the world famous hardy, seen in germany's capital, his jewels by drugs, dancing drugs and death to 45 minutes. d w. o. listen carefully. don't know how with to the goal. ah, feel the magic discover the world
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around you. ah, subscribe to d w documentary on youtube. ah, the atlantic coast of portugal and natural wonder only 900 kilometers long. the portuguese and the sea have long been connected with another because relationship is in danger. the coast is crumbling away and to see his already swallowed uphold the brooms of houses. i fulfilled fulfill login to the new fizz negative.

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