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tv   Business - News  Deutsche Welle  April 7, 2021 8:15am-8:31am CEST

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rone turned the town down with women out of work 1st and to migrants among the worst affected in its annual report released today a human rights group also accuses governments of using the coronavirus crisis to excuse as an excuse excuse me to stifle just. a nexus just with monica jones i'm sure telling it for lent it's for watching. what i subscribe to do double your books you meet your favorite writer living in china like to see myself as new kid style in the strange grown up world to this degree books on your 2. years. i was good times are good for the. warming from. douglas. card yet. the
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industry is controlling your thoughts the great books of the 20th century. present a hoax use. the public radio meet manufacturing new clothing store to a 3rd to. a silver lining on the horizon for the global economy the international monetary fund has raised its outlook for global growth for this year but it's a lot sided picture. of something else the i.m.f. has said it's in favor of a global minimum paul let's talk straight ask proposed by you is treasury secretary janet yellen to prevent corporate tax avoidance idea is also finding supporters here enjoyed that. german machinery manufacturers are world class now
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their expertise is needed to speed up the feeling of stare out called 900 x. one bios. clock up to do business i want to jones and berlin good to have you with us. oil prices edged high on wednesday on the prospect of stronger global economic growth after the international monetary fund said in its latest words economic outlook reports that unprecedented public spending to fight code 19 would push global growth to 6 percent this year a rate not seen since well the $970.00 s. but the rebound will be far from even and for some there might be permanent scarring take a look. if all goes according to plan it would be the fastest expansion of the global economy since the i.m.f. started tracking growth in 1988 the fund says such an optimistic forecast is only
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possible thanks to a rep and fiscal response to the pandemic but there's no doubt some sectors have suffered irreparable damage now because the crisis has exhilarated the transfer made of forces of digitalisation and automation many of the jobs lost are unlikely to return requiring work or reallocation across sectors which unfortunately often comes with sylvia earning penalties. swift policy action worldwide including 16 trillion dollars in fiscal support prevented far worse outcomes the i.m.f. predicts the rollout of covered 19 vaccinations and huge sums of government died will trigger a powerful rebound from the pandemic recession. but the funds chief economist warned the recovery would be unequal with already poor countries falling further behind without additional efforts to give all people a fair shot cross-country gaps in living standards could widen significantly the
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i.m.f. predicts the global rebound will gradually lose momentum and return to pre-code levels of just above 3 percent annual growth countries will once again have to deal with the same obstacles they faced before the pandemic including aging workforce as in most rich countries as well as in china. let's bring in our financial correspondent chelsea delaney frankfurter good morning chelsea tell us the i.m.f. growth forecast for the global economy going down here in europe. well this is a forecast that is as you said earlier very very lopsided what we're seeing essentially is china and the u.s. driving much stronger economic growth that will have some benefits for the rest of the world for europe for example which is a big trading partner of both the u.s. and china but other economies are going to be recovering much much more slowly particularly here in europe many economies are still struggling very much with the
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coronavirus pandemic but also poor economies as well so there will be a lot of a lot longer recoveries 1st countries here in europe and particularly in low and middle and lower and lower income areas as well but how much growth is actually driven by europe right now because the loss also. from the hope and success will that. some will find. europe is definitely behind it and it's going to continue doing so in the u.s. have already basically fully recovered from the pandemic in terms of their economy in europe is not expected to do that until the middle of next year and this is based on the assumption that the vaccine or a lot will start to accelerate we haven't seen that get europe is very much still in the midst of a 3rd wave of infections countries are still in lockdown potentially hardening
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those lockdowns in the weeks ahead and while european leaders are saying that they do expect to vaccinate the majority of the population still by this summer a lot of people are not confident and that any more so if there are further difficulties with the vaccine or all about would deal longer blow to the european economy there is some potentially good news for europe and the i.m.f. also commented on a proposal by u.s. treasury secretary janet yellen soberly. get back to chelsea to talk about that in just a moment because it was a declaration of war on tax havens around the globe u.s. treasury secretary janet yellen is proposing for a global minimum tax on corporations is met with approval not just from the i.m.f. dispassionately here in europe and it's causing some unrest in the cover of. the british virgin islands are highly prized by some corporations the ones that shift
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profits across national borders into shell companies in order to pay hardly any taxes u.s. treasury secretary janet yellen proposal for a global minimum tax rate of 21 percent was aimed at these companies washington urgently needs additional revenue because the pandemic is costing billions the u.s. treasury loses nearly $50000000000.00 a year to tax cheats according to the advocacy group tax justice network germany comes in 2nd and france is also among the top losers no wonder yemen is finding support in europe. the u.s. treasury secretary janet yellen said yesterday that she's in favor of the worldwide minimum corporate tax rate this is a matter that i've been working on for a very very long time. but let's take the american 21 percent and use it as a global minimum tax rate and base could fly and also and the business the tax havens own side if you will as well as in your. it's not only caribbean islands
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that are among the world's most attractive tax havens e.u. members the netherlands and luxemburg are also among the top 10 that's why e.u. parliamentarians like sven gold are grateful for the support from washington this is the moment we were waiting for it we will take your tour and you won't rescind it we move to poland as basis for google. we have a chance this will become policy very soon because the public budgets it everywhere globally we simply need a month and so the pandemic could no make possible what seemed impossible for decades reclaiming huge amounts of tax revenue. or just tells you delay there. we heard amongst all those the german finance minister there was more than happy with the proposal is europe whole of
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a really united on the what about the corporates themselves what they say will be european have you waves are certainly behind this idea france and germany have been 2 key for says driving this proposal. for european companies it would largely be a good many european companies pay very high taxes here in germany the average corporation pays around 30 percent. or 30 percent corporate tax rate so it would be helpful to someone even even the playing field for these companies that are paying much lower tax bills other e.u. countries are likely to be more resistant as i mentioned in the report there are new tax havens like the netherlands ireland is also a big place where companies will incorporate some of those economies to stand to lose out if this proposal goes through a court and they also need still be some discussions ahead to the chelsea delaney in front of thank you so much. not just some of the other global business stories
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making news. a coalition of small business groups in the united states is targeting amazon on the anti trust it's calling for tougher antitrust enforcement in the country the newly founded small business rising group includes booksellers grocers and regional businesses it says its goal is to stop tech not place such as amazon from cornering the online market. swedish closing giant h. and m. says it will lay off more than $1000.00 employees and close 30 schools in spain due to the pandemic the retailer said it would prioritize voluntary departures wherever possible while sales at stores of foreign shopping online sales have jumped 40 percent of the past year. vaccination is key to ending demick restrictions but the rollout is slow in many european countries including here in germany millions of people are losing their cool they want to their covert 1000 jobs now vaccine manufacturers are barely keeping up with current demand now
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german equipment manufacturers a building the machines needed for filling and packaging vaccines and they're in high demand. one last test this equipment use for the sterile filling of vaccine files is running like clockwork they're ready to be packed and shipped off isn't much this machine fills 24000 miles per hour and can be operated around the clock they'll each file contains several vaccine doses the plant can fill up to $4000000.00 vaccine doses a day something which it needed during the pandemic german companies that build these plants for the pharmaceutical industry are among the most successful worldwide they export their equipment from southwestern germany to the entire world . and is one of them they boast annual sales of some 260000000 euros. the family business
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employs 1600 people. there but when we build the machinery for many components we take it completely on line until it works properly and then it's just mantles into parts again and shipped to the customer site you know their employees travel to customers in india and the u.s. and russia regardless of the pandemic it's a real challenge for the company. members and indeed we have to organize the journey from is over into the customer to stay on site the assignment at the customer's premises and the return journey to is over all in such a way for them that the risk of infection can be kept to a minimum and was equal. the order books are full on average it takes about a year to plan and build a filling plan for vaccine doses it would go faster if the pharmaceutical industry agreed on the uniform standards for plants but every customer wants something different they've reached their capacity limits they can't do more than keep on
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building maybe prioritize a bit but you obviously are in their current priority is the construction of filling facilities for corona. iris maxine doses but continues to supply pharmaceutical companies with a variety of machinery so that they can also fill doses to treat other diseases your mother course we have to make sure that other important areas of utilization are also being addressed for customers you have to bear in mind that cove it's not the only disease out there. the worldwide pharmaceutical industry is increasingly relying on domestic production to minimize the risks associated with international supply chains for german machinery manufacturers that means that demand for filling equipment will continue to rise. a quick reminder of our top story this hour oil prices edged high on wednesday on the prospects for stronger global economic growth the international monetary fund said in its latest world economic
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outlook report that unprecedented public spending to fight covert 19 would cost local grocer to 6 percent this year a rate not seen since the night incentives. but that's a business update and d.-w. from the in the team's plans for watching. we're all in this together it was the slogan on social media back when the corona pandemic started. around the world that a symptom or become clear to our social and. economic inequality in the bars the to reinforce. on. we've got some tips for your bucket list.
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corner. kataklysm. and some great cultural memorials to boot. the double trouble we go. welcome to global 3 thousands. this week we focus on one of our world's biggest problems inequality societies where the gap is huge between rich and poor where many people are being left behind and that was the full the pandemic. we go to indonesia which due to the coronavirus lockdown is currently in the midst of a baby boom it's making life tough for many.

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