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tv   Business - News  Deutsche Welle  April 29, 2021 8:15am-8:31am CEST

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and to broil andrea has but each scored to give manchester city the advantage heading into the 2nd leg between the 2 on may 4th in manchester england. business is coming up next i'm terry martian thanks for watching. for the be. the 1st.
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time. the industry is controlling your thoughts the great books of the 20th century. present a hoax those. manufacturing ignorance starts may 3rd. u.s. president joe biden marks 100 days in office with a new spending plan for families and children it's his 3rd big legislative proposal taxing businesses and the wealthy to expand the role of government in the u.s. . also on the show of tons of post and other big quarterly loss the german flag carrier now says it's more pessimistic about the year ahead. welcome to the show i'm seeing beardsley in berlin the u.s. president joe biden unveiled his latest spending plans before congress on wednesday
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night $1.00 trillion dollars in new spending and tax credits aimed at families and children and the package would find its preschool programs lower child care costs and expand pape and expand paid leave for families would be funded by raising corporate taxes and personal taxes on america's wealthiest thereby. how do we pay for my job the family. i made it clear we can do without increasing the deficit let's start with what i will not. own lot of pose any tax increase on people making less than $400000.00. but it's time for corporate america and the wealthiest one percent of americans to just begin to pay their fair share trickle down trickle down economics is never were there is time to grow the economy from the bottom in the middle out. but of course came into the presidency with lofty ambitions he pledged to bring the country out of the pandemic fight racial injustice and to make
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a once in a generation investment creating what he called the most rather the strongest most resilient and innovative economy in the world $1100.00 days into his presidency he's poised to rack up quite a built $660.00 trillion dollars rather in proposed spending cost the total cost of his legislative proposal so far this year and the 1st $1.00 trillion dollars has already begun flowing into the economy including those $1400.00 stimulus checks for many americans biden has also proposed a $2.00 trillion dollar infrastructure bill which aims to update america's ailing roads and bridges also improving internet and electric vehicle networks and then that $1.00 trillion dollar bill aimed at improving child care and access to education biden plans to pay for this by raising taxes he wants to increase the corporate tax rate to 28 percent and the top of the top tax rate for america's wealthiest to 39.6 percent and for more on this i'm joined by stormy builder she's
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executive director of the aspen institute germany stormin welcome to the show 6 trillion dollars in spending proposals and $100.00 days what kind of a shift with this mark for the american economy to see so much money pumped into it . i would say it's really huge and it could be transformational for the u.s. economy is that it goes to the congress and would say that this really is the united states has the largest deficit in infrastructure in education and also in health care and biden wants to address this and he wants to reduce poverty and income inequality and i would say from does from that perspective the polls are spot on but as we heard in the speech it's really christian also how how these bending going to be fine and of course the question of whether they will go through congress this would mark a major redistribution of wealth in the u.s. as biden mentions he mentions from the bottom up and sort of trickle down can you
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clarify what he meant by that. absolutely and such it out is an idea of a concept which comes from actually the rent an administration and the idea is if you foster if you cannot with wealth and if you support them which share of the high income. of the society then everybody would benefit because there's going to be more spending one demand and one production with jobs and i also the poor and away income groups would benefit and the last decades really have shown that it doesn't work income inequality has been on the rise for decades poverty levels have been increasing also because of the blown up prices in his ideas to change then and supply the middle class and the low income brackets and created demand through through these approaches through and evening and even more americans to
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participate in economic growth through education and health care story by there's also a promise to rebuild america's traditional alliances including with europe 100 days and where does he stand on rebuilding those alliances with europe. well he's promised america is back and because he is back and this is just it's not just rhetoric but it's really also actions and he reached out a hand to his and i did especially the european union and a lot has already been achieved in x.m.l. for example is the cease fire in the airbus boeing case and the or at least temporarily not an ex thing off would tend to target terrorists but a lot of what needs to be done i think especially in trying to the u.s. to has the state the steel and the unions have in place and that is the big big stumbling block for the transatlantic relationship or
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a story bill their head of the aspen institute of germany thank you so much for your time thanks for having me. let's take a look now at some of the other business stories making headlines. apple's profits double quarter on quarter to over $23000000000.00 sales to china also nearly doubled and results topped analyst targets in every category the global semiconductor shortage that has hobbled many auto makers seems to have left apple unscathed. higher ad spending by businesses during a pandemic induced surge in online traffic provided facebook with strong business last quarter revenue grew 48 percent over $26000000000.00 beating market expectations earnings almost doubled year on year to $9500000000.00. boeing has paul's deliveries of at $737.00 max after more than $100.00 of them were grounded due to an electrical fault the planes were already grounded once after 2
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fatal crashes boeing also reported 6 quarterly loss in a row more than half a $1000000000.00. meanwhile rival air bus reported a profit of $362000000.00 euros that came after a year on year losses airlines cut or delayed orders during the pandemic the european plane maker says cost cutting measures and military sales put it back in profit. while germany's biggest airline lufthansa has posted a 1000000000 euro loss for the most recent quarter continue its own difficult path through the pandemic with most air traffic shut down to times also tempered his expectations for a summer pick up but there does seem to be a light on the horizon losses in the 1st quarter were less than before and an easing of travel restrictions is being planned. a stalled airline most of lufthansa's fleet has been grounded for months but the planes still cost money parked aircraft need to be maintained and don't earn anything.
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people say a standing at plane is the world's most expensive billboard that means an aircraft on the ground not only doesn't pay for itself it also incurs costs if it's least for example they're also leasing costs. gemini's biggest airline reacted quickly to the collapse in passenger numbers as the pandemic hit pilots flight attendants ground and backroom staff were put on part time. airplanes for parks and fuel guzzlers like the giant ab us a $380.00 but completely jettisoned on top of that instead of relying on business travelers who buy business class tickets left chances now targeting tourists. as the situation because it's out of the market. this week at the moment so so there are not so many. operators on the other side ok we've to see if there's still a high complexity high costs. on
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a look trans aside so they're not really able to manage across space which is really competitive. with more people gradually getting vaccinated left and 2nd look forward to the end of the pandemic. passenger traffic should soon be increasing it specially from the us as the e.u. starts planning to east chance that mantic travel restrictions. let's bring in conrad boson in frankfurt conrad good morning new quarter new losses full of tons of hefty losses again what are investors going to say. well stephen there are not too negative about it the share price here in the trading down one percent i have to say it could be worse of course love tons of with is 60 percent decline in sales last year compared to 2019 you know the previous
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business was down so low that now. with these numbers they cannot impress but they don't come as a big disappointment i have to say as well tons of course the coronavirus putting such a strain on business at the group that financially now they have to come up with very innovative ideas they do this by issuing new bonds and they're also paying back they got from k f w. state and support bank right so we've done the still enjoying a lot of government support there but it's been especially difficult time for its employees hasn't. absolutely and they all have gone in part time and short time work schemes because of course all these planes were grounded and you don't need all the pilots you don't need all the flight attendants they stay at home a lot and they have a couple of days a month so that they can hop on
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a plane and do some work but it's coming back. says with the holidays coming up they're hopeful and so are of course all these employees who had to deal with you know fewer income during the months of the lockdowns. rikon adieus in frankfurt thank you. in turkey coated cases are on the rise approaching 40000 new infections predict a president ed one has responded by putting the country on a nationwide full lockdown beginning thursday and lasting until mid may it's a tough burden on turks were already financially struggling as the economy suffers from high inflation and trouble businesses. times have been tough for turks for a while the economy in tatters prices up and stores empty on top of it all the
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news this week come thursday everyone staying at home except to buy food other stores are closed and store owners obviously concerned. you can do to them it will be difficult for all of us because we have taxes reigns payments to pay we have children and they have to study we have to bring food home and we live in a period where everything is very expensive we will go through a troubled and difficult period. but the current pandemic situation in turkey demands strict measures if the country can't get its current numbers down the economic pain will only get worse as summer comes and with its tourist season like a little dismayed the lock down is necessary to bring the cases down because tourism is our everything for the tourism season to open the cases need to come down to a certain number i think this is necessary. for at least 3 weeks now turks will be staying at home hoping to do their part to save the summer and manage an economic
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recovery. that's it for me and the business. line for more. business facebook. cryptocurrency. than just an experiment. counseling commodity. how does. that. how do you use it and how secure is that strong money made in germany. next on d w. i
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haven't invested in any yet myself i should try to currencies are playing an increasingly important role in the economy companies like tesla accept a bad call as payment even some fund managers recommend investing in digital assets but how do they work what are their implications for everyday life.

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