Listen: New Delhi, India, Michigan Economic Development Corporation discussed on Marketplace Morning Report with David Brancaccio
"This marketplace podcast is supported by paychecks. Paychecks makes it simple for businesses of all sizes to pay and manage their employees they make payroll easy automatic and they handle benefits uh-huh with paychecks. They work with you the way you WANNA work learn more at paychecks dot com slash marketplace and by the Michigan Economic Development Corporation ever that's P. L. A. N. E. T. M. dot com slowing economic growth dims India's annual festival of lights live from London this is the marketplace morning we court from the BBC World Service. I'm Victoria Craig Good Morning we'll take you to New Delhi in a moment but first Indonesian investigators have blamed aircraft design flaws for the lion aircraft last year that led to a worldwide grounding of all Boeing seven thirty-seven Max jets a final report today concluded the accident was compounded by errors from ground staff and crew the BBC's Theo legged has more this report describes a catalogue of failures that led to the deaths of one hundred one thousand nine people a faulty part was installed on the plane and it may not have been tested properly it provided inaccurate data to a flight control system which repeatedly forced the nose of the aircraft down when the pilots were trying to gain height communication between the pilots who weren't aware the control system existed and poor flying skills appear to have played a part as well the Indonesian report is likely to add mysticism faced by Boeing and safety regulators the aerospace John says it's now redesigned the plane's controls to ensure such an accident can never happen again feel I get putting their let's do the numbers European shares are little changed in the pound is weakening two tenths of a percent against the euro as investors wait for more clarity on Brexit you leaders could decide today on a deadline extension for the UK's departure it still scheduled to leave the block next Thursday Softbank shares meanwhile slid as much as two point seven sent today after reports it's planning a write down of at least five billion dollars to its vision fund that would reflect the plunging value of some of its biggest investments including we work an uber to India now where the annual five day festival of lights known as Divulje begins today it's normally a time of celebration lavish gift giving but as the economy slows he must spending has really gone down to a record low across India across the urban and rural India and that's because of the farm crisis and in the Canadia jobs have not really increased people are not buying cars and scooters and really still when people really go out and buy consumer durables ask the buy things to upgrade things at home they buy new electronic products mobile phones it's the biggest festival similar to Thanksgiving and Christmas in the West so what kind of items are people buying today in the lead up to it she'll you know it's sort of a mixed message will be spending a lot on so tonight but not spending on certain basic items and in fact I had gone out today for a walk around my area of it I live in New Delhi actually saw people were playing drums outside a bike showroom near my house and they were trying to attract people to come and feed the Scudo than bikes on the plane the showroom that was really surprising because I've never seen anything like that I think brands are trying really hard companies are trying really hard to sell their products what is the mood like there do you think people are going into the shops are they buying gold today are they those items that they usually by it's right now but if if you look at the ground realities that have been used lots of manufacturing industry it's afford a lot which basically means that a big chunk of unorganized jobs have suffered an unorganized sector is a deep offend of India workforce so they are not willing to spend that much of the would normally do Kinjo Pandya from New Delhi thank you so much thank Argentina's economy is in crisis and on Sunday voter we'll have their say on the way forward when they choose their next president they'll pick either current leader Murray co macrey who hasn't yet delivered on his promise to spur economic growth or the in opposition candidate Alberto Fernandez from Buenos Aires the BBC's Daniel Gallus reports cool what utility bills in the past four years had a fifteen hundred percent increase in a family of workers that is unsustainable in a few hours away from cumulus up in the northern town of Sun Martine women are cooking for free these are volunteers that serve more than two hundred meals per day in a very poor neighborhood one of the residents of this neighborhood came to pick up a large bowl of rice and meat balls and tomorrow breath Argentina's Congress has declared a state of food emergency meaning the state now has to sponsor soup kitchens like this one this country is one of the in London. 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