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tv   Business - News  Deutsche Welle  June 20, 2022 12:15pm-12:31pm CEST

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preparation, it's taken decades for the truth about the circumstances of patrice rumors, murder, to emerge, congolese, people at home and abroad. hope it'll take less time for their nation and their hero to get justice. this is dw news lie from berlin, coming up, investors start to sour on the chinese market over corona virus curbs. chris kolber has the latest business news after the break. and don't forget, you can keep up to date on all the latest news on our website. d, w dot com, or of course you can follow us on our social media accounts on public holiness. i'll be back again at the top of the next hour. thanks so much. god bless someone else to god work. t v highlights it's selected for you. you every week in your inbox, subscribe. now. in many countries,
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education is still a privilege. tardy is one of the main causes. some young children work in mind. jobs instead of going to class others can attend classes only after they finish working with millions of children, all over the world can't go to school. we ask why? because education makes the world more just make up your own mind. d. w. made for minds a future investment in china. maybe not, you companies are reassessing their footholds in the world's 2nd largest economy. as beijing's covert curves continue to put pressure on revenue, imported by european union chamber of commerce in china fights all saltisha with
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crypto currencies being habit of the weekend. we'll get an expert's view on what the recent sell off as the bumpy economic economic wrote ahead. more likely to mean for bid calling and up and we'll go to yellowstone national in the united states were rather than prepare for visitors, residents are now trying to contend with the damage caused by flooding. unquote. cobra, from the program, germany needs to laure its gas usage is a so that its reserves can be filled up by winter says the country's economy minister robert hobbit, for now germany will ramp up the electricity production that coal power plant to make up for the limited natural gas appli, a move that will raise carbon emissions and then also plants introduce an option to compensate companies that lower their gas usage. this comes after rushes gas from announced it would be reducing gas deliveries to germany,
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citing technical reasons. the german government, however, says the move is politically motivated. meanwhile, as europe is getting less energy delivered from russia, it's a different situation for china, where oil imports from russia soar to a record level on may rising 55 percent on the year. trying to hire is our caching in on discounted russian all supplies and mid western sanctions on moscow overs, warm ukraine. until last lunch. saudi arabia was the leading supplier to china. the world's biggest crude oil importer. the latest figures also show that chinese, all refineries are still buying oil from iran, which has also been targeted by restitution sanctions where as energy supplies don't seem to be a problem right now for china, there are issues ramping up for that could hamper rose throughout. last year, business in china was good for you. firms with 2 3rd seeing their cells grow by at
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least 22 percent. but the mood shifted in april. the majority of companies lowered cells expectations for 2022. according to the result of a snap survey by the european union of chamber of commerce and china. companies are worried about the difficult geopolitical situation amid the war in ukraine. on top of that shipping costs arising and the closure of chinese ports due to bay jeans 0 cove. its strategy had a negative impact on business and january around one in 10, european firms said they wanted to move their investments from china to other countries by april, nearly a quarter of firms wanted to do. so. that's the highest level in a decade. and does more chinese labor conditions have worsened? says the e u chamber of commerce. firms are experiencing difficulty retaining workers or
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agile moralists calls over to bettina sure. and she's the vice president of the european union chamber of commerce in china. welcome to the w bettina. so the mode among european companies in china is turning increasingly sour, locked down, supply chain strains, political pressure. am i missing something? well, yes, i'm obviously you and really elicited also and the comment outbreak. it definitely is quite a, an issue and it causes a lot of uncertainty. then we have a slowing economy and the environmental business environment is getting more and more political. so this makes doing business in china more and more difficult for majority of our members. but what exactly is the impact we don't see an exit is of companies are doing no, we don't see an exodus of company is be course the market is for sure a very big and important. but it course is actually that headquarters will silo.
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they will decouple their companies here in china. they localize the stuff, they localize id and data storage systems, and the onshore supply chains. and another effect is for sure that this regards to future investments, which would normally have going to china. they will reset it and shifted to other markets. the course with uncertainty is not a good crowd to invest. tell us about the silos that you mentioned. what does this mean for precisely well, yes, as i have mentioned, and they actually need to set up 2 systems with regards to i t and data storage, which with regards to supply chains, one for china and one for the rest of the world in which we got to i'm stuffing dispositions here. we see now that more and more companies, they localize actually positions from junior staff to board members. this leads 1st
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were to a decoupling course to have a diverse team with forming us working here in china. and also chinese going to the headquarters is leads to more exchange and mutual understanding. and this is crucial for doing business here. no one could also argue that having more chinese individuals in chinese nationals in the sort of positions of power could be a good thing when it comes to understanding the market. it is 1st were important that also the chinese have the opportunity to develop and work in these position. it must be a good mix, but the experts working here and going back in the orders, they act f ambassador. they are marked by us because they can report about the experiences in the china market. we always, they try nice to fitness center. so you work here. so we experience the dynamics on the ground. it's very important to make the headquarters understand how china is
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working and going, but you know, sure, and vice president of the european union chamber of commerce in china. thank you for your time. thank you. and now to some of the other global business stories making you, it's pretty surprises in germany. rows of record pace and may industrial products cost. $33.00 and a half percent more than a year ago. the national statistics office says soaring energy and motor fuel prices are to blame. price increased since 949. want to say germans will have to brace for higher consumer price. an apple store in maryland in the united states made history by forming the company's 1st union. and majority of the 110 employees voted to unionize, demanding a say, and to show decisions on wages and working hours. the joint growing push across american service and tech industries to organize for greater will please protections. bitcoin is falling below 20000 years. dollars for the 1st time since
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2020, with central banks raising interest rates. many investors are selling risk. your assets, like the food c, that's also been turbulence in the market as stable con tara imploded last month. devastating floods have decimated road homes and portions of the protected landscape in yellowstone national park in the united states. the area has long been a popular summer destination, rather than prepare for visitors. residents are now trying to contend with the damage cost by the flooding, both to the environment and to the critical tourist season. ah, the flooding didn't just wipe out roads, homes and infrastructure in this part of yellowstone national park in montana. it also took with it hopes for a bustling summer tourist season,
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which businesses here rely on to get them through the year. ah, i'm getting phone calls from business people saying their reservations are cancelling clear through september and it is devastating for them. they're kind of in a state of shock right now. what are we gonna do where we're gonna go with us? many businesses are also grappling with a costly clean up the mud and water didn't have serious damage. all of my 13 rooms on the lower floor were flooded, have 5 feet of standing water in m. m. we've got it pumped out, but the damage is catastrophic. the flooding has for some establishments to shift focus, serving their community instead of tourists. we've chosen to change our efforts into the community, delivering water on bottled water to the elder in their homes and then around the
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town and certain areas that people have access to. members of this montana community are now hoping that their work will pave the way for better seasons ahead it is targeting and out where 12 of the richest country were just families in the country able to increase their wealth during the pandemic. that's according to german foolish a bunch foundation. meanwhile, for much of the rest of the society in argentina, it's becoming increasingly difficult to deal with soaring prices. this is monte grande, a suburb in southern buenos aires garcia. california is a sociologist who lives here with his partner, nice to leave, and their daughter, nor almost everything in this house, from the jam, sugar, t v cable. and even the telephone said are from companies of the 12 richest families in argentina. the paganini, blackwell's noblest only became richer in the last 2 years. those in the middle
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class bracket are now seeing high inflation reduce their income. whose wound ago it is an increasingly unequal world where the rich get richer and where the working class just survives. so and the poor get poorer and poorer in argentina, there are all the gospels, and that makes wealth concentrated, and so, sequencing below to get last year's partner, naya, lost her job in 2020. during the pandemic, she got it back last august, and now is studying to become a teacher for disabled children, ma'am. multi warfield, it motivated me to continue studying. i was just in case of but i don't want that in another pandemic. we find ourselves again without money in the law, which wasn't much for either journal. how the richest families in argentina increased their wealth through the pandemic, while thousands of others struggled is a question then hernon lecher wants to answer. he is the author of a research focusing on how millionaires in the country became richer through the
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last 2 years. he was on the floor, the pandemic, we measured annually $29900000000.00 approximately spread among these rich people. you mentioned, although there is a small drop with the pandemic. m. yeah. but in february 2021, they were already worth more than $32000000000.00 in the next year. february 2022. it's approximately $36000000000.00 missionary, las lecher attributes. their quick recovery and rise in wealth to the fact that seals recovered and prices increased after the initial impact of cove at 19 but analyst christian layers who had research at one of argentina's leading brokerage firms, puts in perspective the growth of these large companies are gonna come if you compare the numbers with the historical highs of 2018 argentine stocks, so 60 percent or more below those numbers in thought for the record or math. this one moment us in 2018 argentina saw
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a currency crisis. some companies couldn't recover from the fall in argentinean pesos value 10 percent on the there are companies where you see a greater interference of the states that i'm particularly utilities and banks either run. after the pandemic, the prices are now rising due to the war in ukraine, would oscio naya and north booth stop consuming branded foods and opt for cheaper ones. instead, everything has become more expensive food clothes, cars, and people are ready to get that social. i'm chris colburn. berlin, thanks for watching. the result was successful ah gigantic, gotten an sustainable the new national museum in oslo for museums combined into one
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a mega project and possibly the new cultural hotspot in europe. euro macs next on d w. they want to know what makes the german here just in the gym. loved and batting thing that way, but i'm not going to have to work my own car and everyone with later holes in every day getting. are you ready to meet the german gun join me, rachel stuart on d. w. ah ah, find that which important event to well, cindy.


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