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tv   Business - News  Deutsche Welle  May 17, 2022 8:15am-8:31am CEST

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willing flea ukraine's military says more than 260 ukrainian soldiers had left the besieged as of stell steel works in the port city of mario, pull up to being trapped inside for weeks. more than 50 boone, the troops were taken to hospital in a russian controlled area. you're up to date businesses up next with my colleague robots. i'm and you could make an am thanks so much for watching t w. a naturally spectacle in an improved world. the meeting of the loom wales sharks, the remote island of say, told me it is
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a testament to the quality of the waters. one of the many success stories from a bastion of biodiversity starts may 20th on dw ah, preventing the next big ship shortage representatives of the u. s. and e. u meeting in paris agreed to cooperate, to end their lives on the rest of the world. the semiconductors was coming up fast food john. mcdonalds is taking its restaurants out of russia, but asked why an icon of the country shift to capitalism. so this leaving for good on the warranty. ukraine has made getting goods from europe to asia, especially difficult, but vital route to scene as too important to block. this is need to be
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a 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 decisions been taken not the 2nd e, u, u. s. trade and technology council summit taking place near paris. the 2 sides say though each aim to domestic production and provide the maximum possible subsidies to the industry. officials are also planning joint measures against cyber attacks, especially from russia and china. and i correspondent, in paris on your phone, 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, the work we do on a semi conductors to fully understand why did we have the shortage to work together for the future to make sure that we remain strong. because i think that's
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a main task in the politics of today, that like minded partners, that we were much closer together than what we have done before. margaret of the stair was speaking to our correspondent sonton sonia found the car or less often. 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 trans atlantic relationship. but you're right the, this, the are the over arching focus has really been a rushes and vision of ukraine and the disruptions to global trade and supply chains that, that has caused. and one of the reasons for, for this focus on russia is that the treated 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 can be
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used for military purposes. so this is all been about kind of limiting rushes or access to advanced technologies for things like drones and semiconductors. we've also been hearing about her ways in which the eurozone you intend to co operate 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 contemplation 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 for your queen to you and us markets by temporally suspending customs duties on imports from ukraine. another big focus has been, you know, trying to figure out how to combat 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 would see 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 rusher. obviously really coming across as though the major out of history from this meeting. but at the same time as the specs of child china over the whole thing is in maverick. 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 you and us 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. you know, 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 renewables. 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 a local buyer for all of its russian sites,
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which will no longer be able to use mcdonald's name or menu chain says it's priority isn't showing, it's $62000.00 employees in russia. continue to be paid until the sale goes through . windows opened its 1st restaurants mostly among 30 years ago, shortly before all the soviet union. let's get more on this from a financial correspondent in new york. teddy australia. teddy, lovely to have you with us. can you just explain to was 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 a finance story,
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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 said elton, that it 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 into 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 consumer 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 seen 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 as sydney, symbolic isn't good. i mean, a lot of people will remember those pictures from 1990 of those long queues. people kimbrough is to get their 1st big mac in moscow. teddy aust show in new york for us . thank you very much. now see some of the other global business stories making news around the world. when i says it's selling it's majority stake in russian car company after vows to the state report leave for just one rouble. 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 zalinski says his country is facing a monthly $5000000000.00 budget deficit due to war related costs. ukrainian president brought up the spend increased your squeezed during a video conference with the international monetary fund saying afterwards, he's looking forward to working with the i,
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m f to maintain ukraine's financial stability. european commission has lowered expectations for the blocks economy, forecasting growth in the e u and euro zone 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 cost 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 at the moment cargo ships are having to make long detour as rush and ports are being shunned. as our rush and airports, western cargo planes are having to cover much longer stretches to avoid russian air
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space. here things can still be transported directly related to so growth is still in operation the route between europe's biggest inland, port induced form and china as 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 is in law. russian railroads have been put under sanctions to the extent that no one in europe can buy a trade. russian state owned rail bonds with absolute on pas bog, using russian rail or fulfilling existing transport contracts is not prohibited or under sanctions or been 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, everything has already changed. the ukrainian port of mar, you,
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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 warm and exporting 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, bought cars or great knowledge are both 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? so from us, good by ah, the return of the cinema, the 75th con film festival is everything back to normal. welcome to reality. the munich documentary film festival. no volley. a portrait of hooton's adversary. important owned timely arch. 20 more. connect on d. w. a pulse ah,
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