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tv   Business - News  Deutsche Welle  January 29, 2021 7:15am-7:30am CET

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his side's victory instead went to best event every winner in the 4 yearly race has so far been french. the fireworks marked the end of a remarkable race where heroism rather than speed was the decisive fact. ok.d. that the business is up next there is no stop to the game stop sabga robarts will have the latest on the wall street controversy says your. children to come to them it's. one giant problem and when you're in no mood to see a picture you. need a key change in the late fuel economy. how will climate change affect us and our children my. p.w.
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dot com slash water. w's crime fighters are back with africa's most successful radio drama series continues only this odes are available online and of course you can share and discuss song w. africa's facebook page and other social media platforms to crime fighters tune in now. here's the game stop frenzy. and game outrage among small investors after online brokers restricted the buying of the company's shares at the end of a why would we wall street. this year's world economic forum was consigned to online but that didn't stop major world leaders taking parts will ask the foreign managing director what was gained from this year's event. this is due to be
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a business owner of what in berlin welcome to the program now this week the goliath's of wall street's have met david the game stop shares frenzy has seen a surge of stock purchases by small investors leads to losses in the billions for hedge fund pros but now there's anger on the online forums where this rebellion was coordinated after brokerage ops to cash in to stop it. they're placing their bets a group of small time speculators not professional traders have been coordinating the purchase of game stop stocks in online forums even though the retailer is virtually broke this is being causing ship prices to skyrocket at the peak of the frenzy the stock could risen 2 and a half 1000 percent from its price at the start of the year. well it played out that those who are pushing this year prices higher are on the winning side but those hedge funds that are short the stock. leave that the price will be going down
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are getting squeezed and so the concern is that we maybe we end up with some hedge funds that have financial difficulties game stops rising ship prices already cause problems for some short sellers who had bit that nearly bankrupt stocks would drop in value now every penny they increase means a loss for the short sellers it's not good news for the individual traders investment platforms have started to limit trades on game stop putting pressure on the price whether the social media trade can regain its momentum is as yet unclear let's discuss this with our financial correspondent ashutosh can they he joins us from frankfurt so seen online brokerages take action on this why they actually felt the need to do that. to begin withdrawing her dog which has been the hottest hunting around for these the day traders all through the pandemic of
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this say that it's to save the company and traders from. the financial requirements for the company go up for the brokerages go up or when there is so much of what little itty they have to keep wall money mall fund with the clearing houses so that's one of the reasons that. robin hood. has mentioned. so what's the reaction to these restrictions being. well they've been this been a futurist reaction of from robin your users and also all the other day daily traders they feel that the company is now changed its sides and it is siding with the financial elite the hedge funds the bigger financial institutions so that's why that's where they are furious in fact they have taken to twitter to rally against the company calling it well not robin hood but rob in the hood that's how they put
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it there's also concern from the u.s. lawmakers the u.s. lawmakers have said that this is unacceptable especially given that hedge funds are being allowed to trade but daily traders are being blocked from making trades they were daily traders of also sued the company but legal experts see that there is not much that they are going to gain from it given that these brokerages do have a lot of power was. limited trading it's all mentioned in the agreements that the customer signed with the trade brokerages. still another day of trading this week on wall street today where the sound is going to go next. well. to begin with robin hood has said that it's going to ease some of the restrictions it has in fact tabbed into its credit line to be ready for the boston trading
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that's going to happen when those restrictions are easy but the broader saga it's very difficult to say which we it is headed how are the regulators going to be and how are they going to limit such a b. such behavior from daily traders given that this is actually leading to a lot of bubbles in assets which are actually deemed to have run their course. but on the face of it when you look at it what the daily traders are doing there's nothing illegal about it so it's interesting how the regulators are going to tackle this issue. ok watching ashutosh pandey thanks for joining us. now the world economic forum is 50 years old this year but its golden anniversary wasn't bigger and better than ever before with the corona virus pandemic making in person gatherings no go world leaders came together over the internet instead as well as driving the forum online the virus also dominated its agenda doubles
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hasn't been this quiet in decades no signs of the usual hustle and bustle instead a thick blanket of snow the locals like it that way. i enjoy it there are no greetings there is little traffic it is quiet there so your guests i would be happy to not have the w e f here anymore. i mean. you know. that everything is open no security checks a lot less people of course and like it goes. with the locals enjoy however is a painful sign of what has happened to the world over the course of the past year online world leaders offered their plans and solutions with regards to the ongoing pandemic and stressed that international cooperation is key to overcoming the crisis. it is how china will continue to take an active part in
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international corporation and corporate 19 containing the koran of ours is the most pressing task for the international community to lose the employee doesn't it we need to choose a multilateral approach a self isolating approach won't solve our problems we see that 1st of all on the question of vaccination since it's the root out of the pandemic and that's fearless and that's an up chickens under the haitian people blame to lose we are all not safe in some countries. rocks ability to have people in other countries on the docks in a city we all must act together in combating a current artist because it affects all of us equally working together across the globe and event streamed on the worldwide web might be a good start and yet there is hope that the forum can return to its usual grounds
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again. for joining us from davos is a even monk managing director of the world economic forum welcome to the do we business i mean we heard some of the world leaders there that cooperation particularly when it comes to vaccines is going to be a key way of getting out of this pandemic do you get the impression from what you've heard this week that there is a consensus building on how to do that. thanks for that i'm actually in geneva where the world economic forum spends about $360.00 days of every year so davos is just somewhere we go for one week of the year. i think what you've seen in doubles this week is nearly 30 world leaders heads of state coming together to tell you what they're going to be doing in 2021 to ensure that the virus can be brought under control and that really does mean vaccines that also involve some of the
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major vaccine produces and having this opportunity the beginning of 2021 to really bring all those people together have some of the conversations both publicly and privately is a really really important move and that's something we've been able to do with this virtual dabbles in a way almost unparalleled i mean it's almost been easier to coordinate some of those conversations online that in real life there's a lot of insistence that any pandemic recovery is got to be sustainable from what you've been haring are you confident that there's going to be a concrete efforts to actually bring us about what we've seen this week is something like 50 different measures from businesses and governments that are being coordinated both publicly and behind the scenes here on line and you know one of the major announcements really speaks to today exactly which is this announcement on so-called e s g measures that seem viral mental social and government's measures you got 60
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of the world's biggest businesses and corporations coming together to actually do something to track how they make an impact on society on the environment and on the way they do business and that kind of move i think is pushing us in the right direction so that when we come out of this crisis we're not i mean left with the same old rulebook that got us here in the 1st place. i think changed since the last 4 in which a lot of people will remember is the man in the white house do you think that having joe biden as president of the united states has made the tone somewhat different this year. a new administration means big changes for everyone and you know joe biden is no stranger to the world economic forum he's been with us as vice president a couple of times he's been to other meetings that we've held around the world so you know we know the president and you know we're looking forward to working with it we had john kerry his climate speaking this week on the plans that the united
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states has to really get back behind the wheel in terms of driving the agenda on climate change so i do think there's a whole number of different ways in which this administration will make a difference but it's not just the u.s. you know i think one of the things we've seen through the crisis is that every single major economy has a role to play and i think hearing from those leaders and seeing that we're now in very much a multi-polar world has been a big part of what travel stis week online has been about. yes it has been online it's been without the private jets and the all the trappings of a usual davos a green a divorce this year could this online to be you have to hit and stay. funnily enough you know you say that but actually private jet traffic into davus is no more than a busy week in 0 fat in actual fact emissions in dallas the town go
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down during devil's week so the air is cleaner pura and nice when we're in town that when the locals are left to themselves with boxes cars and everything running through the center of the lovely alpine town but it has made a difference to us in one very important why it's enabled us to bring in many many more people into these conversations and the impact on line has been enormous is something like 5 or 10 times the number of people who normally join in the world of me for my thing like 30000000 followers across social media that number has gone exponentially higher this week so it really has been for us a fantastic experiment not one we planned for but nonetheless a great experiment in bringing in new voices and really sharing what we're doing online. editor among managing director of the world economic forum thank you for
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joining us on data we have business by its very month. and that's all from me and the business team here in berlin if you do want more from us you can check out our website city to wheedle com slash business we're also on facebook and twitter so next time the fun and tech. he sits in jail. he is everywhere. they now call me the russian opposition leader is a man is in mass protest. despite talking only silenced young people especially are protesting corruption and state despotism they're now taking to the streets everywhere across russia some displeasure.
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they want to know what makes the devil you just put it that you're in love and banning them away from. another one of those my own caught everyone with lead a holes in everything. are you ready to meet the germans and join me right just do it on w. welcome to focus on europe we're glad to have you with us there are dramatic scenes unfolding in russia at the moment people across the country are taking to the streets protesting against.

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