Another rough day for stocks europe ends in the red the dow tumbles a thousand points of the u. S. Markets fall over three percent whats behind the new downward trend well get the view from wall street also coming up germany has just reported bumper trade figures but thats unpalatable makers they just cant keep up and turning off ukraines tap the country will miss out on vital natural gas in combat as the north stream two pipeline between russia and germany gets the go ahead. Im done your winter in berlin this is your Business Update volatility has plagued the markets all week following a broad sell off on Monday European shares closed in negative territory and thursdays session ending a short lived rebound germanys dax was the worst affected in europe closing down two point six percent in new york the dow finished over
there are so many factors involved that it can cause a bottleneck from the machines that make the pallets to the forests that produce the wood its an operational nightmare. The Family Owned Company and monster is running at full capacity now in its sixth generation that specialized in producing wooden transportation pallets forty years ago. The head of the family says theyve never had to cope with the kind of overwhelming demand they face right now. And they are the shed was piled high from wall to wall with pallets now its cleaned out. And why is that. The economic boom industry is literally pulling out pallets straight out of the dryer and straight on to the trucks we can hardly even manage to build up a small buffer as a reserve. Last year vingle hided took on twenty new workers now with a total workforce of ninety the company is having to work in shifts just to keep up
those still on the market today have extensive lead times we sometimes have to wait two or three years for a new machine. Even the mild european winter is a factor behind the shortages joint managing director Marcus Wrinkle Hider says its hard to get wood from Eastern Europe right now. Logging in Eastern Europe is done mainly in winter theres a lot of moral and they can only access the forests when the ground there is frozen and theres no swamp and they can get the machinery into fell the trees right now the ground wont support the weight of the heavy machinery. Think it is lucky it can process locally sourced wood in its own sawmill that means it can compensate for the shortage of Eastern European would at least. Germany has its foot firmly on the gas pedal after granting apartment for the north stream to natural gas pipeline from russia the first pipeline of the north streamRussian Energy needs to upgrade the Infrastructure APilot Project financed by dr bank and underwritten by german export guarantees will see the multimillion Euro Compressors successively replaced but the question is will they ever really be needed. The North Stream Pipeline linking russia and germany directly across the baltic sea see here to be joined by Second Street to construction is due to get underway later this year the new pipeline will be able to transport some Fifty Five Billion cubic meters of gas equivalent to two thirds of the Cast Transiting Ukraine On Average in recent years the projects critics in ukraine stream to would mean more than just empty pipelines and transit income. They say will increase europes dependence on Russian Energy and allow the kremlin to put political pressure what its called the Eastern European satellite states by halting supplies without endangering deliveries to its peak Western European customers feel that something north streams backers including former german
chancellor and current chairman have consistently rejected saying the deal is purely driven by economic considerations and provides additional capacity rather than replacing the existing pipelines ahead of ukraines state Energy Companies not convinced and hopes the project can still be stopped i have never heard of any major Gas Pipeline Project we believe is not a done deal there are still a lot to be done but for all the. Talk fears are as much about politics as they are about business for the past forty years this station and dozens others like it across ukraine have kept russian gas flowing west europe keeping households from berlin to the balkans warm in winter the fear here now is that if not stream to you is actually built europes Energy Supply will no longer depend on transit through ukraine and as a result European Policymakers will pay a lot less attention to keeping ukraine stable. But just a matter of months ago to construction to get underway ukrainian hopes now resting
brussels and washington to finally translate their vocal opposition to the project direction. Nicolas connelly reporting there from ukraine for investigations in hungary have reached Prime Minister viktor all dance family and bury him prosecutors following a recommendation by the European Anti Fraud Office to investigate. They suspect. E. U. Funds in thirty five public Lighting Projects in several towns they were carried out by the Company Controlled by law and he also says the investigations are politically motivated ahead of a National Election in april. Receives billions of euros in Development Funds every year. Im afraid of that whole your business if you want more you can check us out on social media facebook and twitter
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