Future of the country i. Need to rethink that is drama. To me its all about a new i might show join me in the contest and beat up the. Post. Stocks fall into Oil Prices Surge as investors worry about new tensions between the u. S. And iran look at what exactly has markets concerned. Also on the show south africas struggling economy is bracing for yet another blow a 3rd junk status reading on its debt. And will hit the road in the u. S. And meet some hard travel amazon workers this is your d w Business Report im Stephen Beardsley in brylin good to have you with us. Global markets are watching closely as tensions rise in the middle east following the u. S. Killing of a top iranian general of special concern or oil the persian gulf is home to some of the Worlds Biggest Oil producers and theyre now in the middle of an escalating crisis. The u. S. Air strike has sparked concerns that regional tensions could escalate further but tension disrupting crude supplies the strait of hormuz located between a man and iran connects the persian gulf with why does the ways some 20000000 barrels of oil pass through this choke point every day any hint of trouble in the region since the price is climbing the persian gulf is home to 3 of the worlds top 10 oil nations when measured by oil reserves irans mainstream exports have already been squeezed by u. S. Sanctions but iraq has become one of the regions biggest exporters and now its ground 0 for the current crisis. News of the nation pushed brant crude up just over 4 percent on thursday where its at 69. 50 a barrel before settling its the biggest price jump since a mid september attack on Saudi Oil Facilities which briefly slashed output in the worlds top exporter by half Global Markets fell on the news of the latest strike investors bracing for worries turned to safe haven assets such as bonds swiss francs and gold which notched to a 7 year high late on friday. Now earlier we spoke to Christopher Haynes a crude analyst from Energy Aspects in london we asked to fridays shock to oil markets was just a fleeting scare or something more concerning. I think one of the biggest things here is that the playground where all this is happening is in southern iraq thats a very big Oil Producing region youve got about 33 and a half 1000000 barrels a day of or come out of there so any kind of threat to any disruption in the future is going to be a real problem and i think one of the challenges now is trying to understand when iran might might react to what they might do. Lets go now to our financial correspondent in new york ians korda. Yens good to see you almost 4 percent spike in Oil Prices Today can you help us put that in some sort of perspective. You know well times have changed so if you look back 10 years for example with incidents like today or yesterday we probably would have seen the Oil Price Spike by at least 10 percent or so but by now the United States actually is the Biggest Oil Producer in the world and sold there for at least the United States does not really depend so much on oil from the middle east and the longer and if you look at it historically take 994. 00 example the time when the 1st gulf war started gas prices and u. S. Pump spiked by a good 10 per cent or 7980. 00 around the iranian revolution gas prices increased by more than 30 percent so times have changed and yes we saw increase in oil prices but by far not by as much as we would have seen it probably like 10 years ago when the u. S. Was in such a dominant force when it comes to Oil Production he was the market reacted otherwise to the shock today. Youre clearly we did see a nervous environment and nobody really knows whats going to happen when we might see in iranian retaliation in a couple of days or so we did see the stock prices coming under pressure that was because of Higher Oil Prices the other side if you look at the stocks of the big u. S. Defend the contractors they actually were among the biggest winners overall chips lost a good point 8 percent in value so that wasnt too a mess of but the sentiment overall is clearly nervous all right quarter with the latest from wall street thank you. And one big winner today on wall street was u. S. Electric car maker tesla reached a new record for car deliveries in a quarter pushing out 112000 vehicles in the last 3 months of 2019 that milestone also beat analyst expectations the news which sent the carmaker shares soaring to new heights follows another production milestone for the company teslas 1st model 3 cars built in shanghai rolled off production lines earlier this week that could help the company solidify its position in china the Worlds Largest car market. Lets take lets take a look now at some of the other business stories making news around the world. U. S. Manufacturing activity contracted for the 5th consecutive month reaching its lowest point a decade thats according to the institute for supply management its monthly Manufacturing Index fell short for analysts who had been projecting a rebound theyll look has improved however given the u. S. Trade deal with canada and mexico and another with china. Bulgarian Authorities Say they will call another 24000 pigs after the detecting a new outbreak of african swine fever bulgaria has already killed 130000 pigs due to the disease many fear the highly contagious illness could decimate the countrys pork industry and there are concerns it could spread to other european countries. German carriers of tonnes of has announced plans to hire 4500 workers in germany switzerland and austria some of the jobs will fill will fill vacancies while others are new positions according to the airline more than half the jobs are for ground crew Labor Relations have been a sore spot for live in recent months. And to south africa now last year Foreign Investors unloaded nearly 10000000000. 00 u. S. Dollars worth of South African stock and bonds the largest selloff in over a decade president Cyril Ramaphosa has failed to jumpstart the economy after 2 years in office and indications are mounting that the country is sliding into recession and that it stands to lose its last Investment Grade Credit Rating in the coming weeks. Many South Africans were buoyant at new years celebrations in cape town. 29000 was an experience by expect 2020 to be a match and i have High Expectations for 2020. But investors have other expectations and theyre bracing for another kind of a bang in february. South africa already has a junk rating at fitch is and standard and poors and moodys mode its outlook to negative at its last review sparking fears the country will be relegated to junk status at the next trading in february the world bank has lowered its growth forecast for the midterm from 1. 3 percent last spring to just less than one percent for last year the job outlook remains weak with unemployment at 29 percent and Government Debt is now projected to grow to 71 percent of g. D. P. By 2022 up from 57 percent just over a year ago more and more public spending is going to distressed state owned Companies Like power utility eskom and National Carriers south African Airways if south africa is rated junk by moodys analysts say it would trigger a massive selloff by institutional investors. Is it the new American Dream at the road live by the seat of your pants or Customer Relations for amazon for some americans thats no dream its a reality show even as many workers complain that the growing gig a commie leaves them feeling untethered others say it works for them correspondent oliver salat caught up with a few of them. The recreational the hey kill the r. V. A symbol of freedom. Home is wherever you take it and were ever work may take you. A campground near an Amazon Warehouse and cheaper on kentucky is home to a round it doesnt work camp purse its 2 pm time to get up for Robert Barker he works the night shift. Good morning good morning robert how you doing and good how was your shift it was great ok yeah easy money man you know basically robert you have your whole life inside that van yeah ive been living in my van for 6 years now. Working Seasonal Work for amazon and ive done some also ive worked a job in alaska salmon cannery have worked a beat harvest and. Amazons been really good to me and its really easy money and allows me the freedom to do what i want. Robert is 46. 00 he has no partner no children and very few expenses amazon paces camp side his Health Insurance and 15. 00 an hour when he works managing customer returns its a temporary contract for a couple of months. The cantor family lives next to robert. Ivan 3 to our new. 80 year old ivan cantor is the oldest employ yet amazons hebrew and warehouse he and his wife law rain work to top up their pensions and they say to have a better life personally i need a home base ah but. That the ferment i hope i can get out capital and the gift of the opportunity to do that. More Financial Security but you have to hit the road to get it perhaps not everyones dream but it seems to work for some. In a lot of criticism about amazon and concern about what the growing off life trade industry would mean for work environments in the United States but one thing seems to be clear though the work campers in kentucky not quite happy with the lifestyle a job. And thats it for me and the d. W. Business team more do check out our website d w dot com slash business im saving theres a blend its for watching. Go africa. Or your animals are trying to tell a lot of attention but dont overlook these Little Farmers very endangered. You can do something to protect them. Free Success Stories from south africa. Identifying rare plants for replanting them. You know when you kill a cow for gone in 60 minutes. What secrets lie behind them swallow. Discover new adventures in 360 degree. And explore fascinating World Heritage sites. P. W. World heritage 363 get here now. We can start rewriting the software of sample back through also. Word of 3 years ago our growth were rewriting the blog the salt were all weve all been over so all were going to redesign the veil will have Different Properties i dont know what blue world will but important changing their behavior as we go off the earth will prove that there was better person to go to serve using fossil fuel. To bake plaster. Because they have wired or give a sample size to the ball field to the right. But. Were just learning this is going to feel. This is due to every news africa coming up in the next 15 minutes is africas wealthiest woman guilty off the bat is about all santos has had her assets frozen in angola the government accuses her off causing the states lawsuits but she says the charges locked politically motivated. And this secretive traditional practice inside
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