and another possibility is that l g b, t, q people living in russia now could try to leave russia for good as they have to fear for their safety. now more than ever. and that is all the news for this. now up, next business news with chris cobra. it's coming up after a short break. i'm anthony out in berlin for me and my team here. thanks for watching and stay with the image of how many portions of lots of thrown out in the world climate change. the story faces much less the way from just one week. how much was going to really get we still have time to work. i'm doing this fast fashion as an environmental 9, a clothing graveyard image of land desert. this is where things wealthy industrial

nations no longer need and lightest textile waste gets stranded. fashion. watching on youtube the. the fossil fuels need to be part of climate negotiations. they had of cop $0.28. so which steps can be used in time of summit into by actually agree on to limits all the warming will have expert analysis also coming up will tell you why the and solve a c of austria and property and retail zion's signal has banks, employees and local governments on edge and we'll go to bangladesh. workers of the country's most important export sector of the textile industry are demanding

a higher minimum cost koval, welcome to the program. cup 28 you in time of the summit is on the way into bye and has started with controversial words from the defense host in his opening remarks, salt and osmond elder bear said that fossil fuels must be part of any deal at the cushion negotiations. automotive war, 2 weeks long talks come any pivotal moment for the missions. so rise for leaders have an urge to move quicker to a clean energy future for the world off track to keep things global. temperatures rises to low levels, but this here is called president shows a different tone to kick off events taking list. i know there are some views about the idea of including language one for for the fuse and you overs and then he watches the sex. we left every have the power to know something

unprecedented. in fact, we have no choice but to go the very unconventional way. i ask you own, we work together for more and a spring and claudia converge. she is an energy expert at the german institute freakonomics research. welcome back to the program claudia. the head of the cop meeting says that the role of fossil fuels must be included in a deal at these un climate parks. what do you make of that? as well as this goes in the completely opposite direction that we should have. i mean, what we need is a fossil fuel face out as soon as possible in order to reach 1.5 for so so. so global warming target would show we a met and this is not happening with this kind of statements. obviously, that interest conflicts. there was a comp president and the fossil fuel industry,

and that's not happening at the climate conference. so i hope that the countries will agree on an increase of you, you will energy, but the false a few phase out would be the right direction. i suppose the saying this climate, somebody needs to set up specific guidelines as a, as to the direction the global climate protection needs to be going in the coming decade. what specifically are these guidelines? yeah. what we really need now is a guidelines that we on the one hand increase, for example, the sheriff. renewable energy do more for energy saving and also step by step phase out fossil fuels. and these kind of guidelines i need it. i mean, we need the national commitments in order to phase out fossil fuel subsidies, for example, goals are way, way toward small renewables and to provide the right policy measures for this and

all this needs to happened. and on the other hand, we see on the global scale that a lot of countries are suffering from climate change. they need financial aid, and this will be discussed at the complements as well. it's now the u. k. government recently allowed for the 1st coal mines in the country to be opened up in the last 30 years. we see germany moving away from russian natural gas to liquefied natural gas and different suppliers. what do you make of the argument that some governments on more invested in fossil fuels that they should be in order to keep costs slow and to be able to power the transition to an affordable greener economy? yeah, that's really a pretty, i mean of those step backs are really problematic. the cost we are right now in the year 20. so to 2020 is we and we should do everything we can do not to invest into fossil energy anymore. not in coal mines. not in the liquefied natural gas instead and renewable energy and energy efficiency. otherwise,

we will never reach the climate goal that we initiated and the paris agreement we all are committed to. and this is the complete the wrong way, is that germany also u. k. by the many, many other countries of the world, we have other options on the table which are cheaper. and these are really renewable energy if we would invest into it. the whole costs system would decline and we both have a lot of economic benefit out of it. and this is completely not understandable by those congress deciding on it. claudia, comfort of the german institute for economic research there. and you can watch our entire conversation on the dw and use youtube channel, thought to some of the other global business stories, making news, to economy of the years. on the 2nd largest economy, france contract is likely in the 3rd quarter, or should you be pro, take down 0 point one percent from july to september. according to some data,

fresh authorities say the trend was due to slowing investments and for the next year as own inflation is to to a lower than expected 2.4 percent in november on the year consumer inflation rose at a smaller basis price pressure eased across nearly every sector, the latest data is closer to the european central banks, target inflation rate of 2 percent and raises hopes interest rates may have to china's manufacturing activity contracted for a 2nd straight months in november and at a quicker pace. well, non manufacturing activity have yet another low for the year. this suggests that was the 2nd for this economy made me more expensive stimulus for sure. it cannot be multi 1000000000 year or property and retail jain cigna finally declared and solve and see this week after desperate attempts to secure a fresh funding failed, making it the biggest casualty so far. of europe's property,

downturn owned by austria and tycoon. that any bank goals signals portfolio spend jeremy's best known department store berlin's cottage aid to the country's top high street chain galleria and the futuristic l tower skyscraper project. this super york belonging to businessman renee benco has just come on the market for nearly 40000000 bureaus. the empire of the self made billionaire from austria has been crumbling for some time. rising interest rates and folding property valuations have now led to the bankruptcy of bank coast, cigna holding company a construction on him books l patella has come to a halt. another cigna project, the 950000000 euro skyscraper was designed as a prestige project for the city, but build a cigna can no longer pay its bills. using titles,

i think the rise of cigna began around the year 2000. at that time, vanco acquired numerous properties and desirable locations at 1st in austria, and then internationally. since 2019, the company has owned the i clinics, chrysler building in new york, cigna. it has also been active in retail since 2013 would. bank code took over germany's trouble department store chain costs. until recently, the group had steaks and retailers in switzerland and the u. k. well, bank who is considered media shy to maintain strong contracts and also for you and politics and politicians that now down playing the effects of the companies bankruptcy. these degree it's and it's important that the financial institutions remain stable, beautiful, that it's done. uh,

then it will become interesting for austria as a destination for investment, but it looks well balance for now. and that's the most important thing in this situation. also this is going to be in dc to, to on. it's my, the sophistic step, the insolvency administrators. now have a hockey leon task to scrutinize the complex corporate network of renee benco to bangladesh and workers in the country's most important export sector in the textile industry are demanding a higher minimum wage. they've demonstrated in the streets, tax factories, faults with police and bern. vehicles to press home there in advance, at least 3 workers have been killed in classes with security forces. the 40s have announced 856 percent increase and the minimum wage would work or say that's not enough. w's night undermined reports. angry government workers have been protesting on the streets of talk, a fond of dish for the last couple of weeks. they are fighting for higher wages and

fee. let's down by politicians telling me that we've come to the streets so that the government saw surprises and helps us survive the same i took part in the protests because she's worried about the nutrition and education of her children. she gone match the living costs with her income, the. the price of everything has risen. we've gone to manage the house. trend has been increased with suffering. that's why we are demanding a minimum monthly wage of $22000.00 costs. that's $210.00 us dollars. more than 4000000 people, mostly women, work in bangladesh is ready made government industry. the countries main explode sector. the minimum monthly beach government was on is the lowest in the world because of inflation and skyrocketing costs. so if everybody, goods was a struggling to make ends meet the villages barely cover living expenses for half

a month, bundle of dishes government factories generate near the 85 percent of the country's exports, amounting to 55 $1000000000.00 annually. but fact, you own us say they can't do more. and i'm ready to cobit 19, the one ukraine and now in gaza. these 3 factors have pushed the whole worlds into a recession. we see sales down, so all of us here are low to. so we formed a wage quote and fixed the minimum monthly wage and about $115.00. a salary increase of 50 and 6 percent is no joke. in this conflict, the workers don't receive any support from the government. the lima does not understand what the state is taking action against what goes like a says she believes or demands justified the best. i mean, we're only demanding better wages. we're not committing any crimes. we're not saving a rubbing. so why did they talk to us? and the unrest in the government industry means unrest in the countries overall

economy. it's unclear how the conflict with and especially for the workers and just a reminder of our top business story for you. the call 28. you in time and so i'm going to started into by our leaders holding crucial negotiations and global warming. the controversial hurts from the events host, salton and alger bear. he said that fossil fuels must be part of any deal at the summit to be talks committed, pivotal moment when emissions still price that social thanks for watching, having successful the into the conflict. so with sarah kelly was slow progress and the counter offensive

and winter setting, and there is a growing number of voices call me for a we think of what the priorities crane and how to achieve them from the berlin foreign policy for and i'm joined by ukraine's invest alexi, montana, getting closer to being forced to consider health compromises. com click next on d, w to the point. strong opinions, clear positions. international perspective. germany is facing a bunch of crisis following an emergency spending freeze, the was todd largest economy is in trouble. it's on to the point we are discussing today. problems made in germany. no more money for the future. to the point in 60 minutes on d w,

he's got any issues with a lot say who the of the, the slow progress and the counter offensive and winter setting in there is a growing number of voices calling for a re think of what the priorities should be in ukraine and how to achieve them on the special edition of conflicts, soon from the berlin foreign policy for him. i'm joined by ukraine's ambassador to germany or lexi my task. is ukraine getting closer to being forced to consider tough compromises invested in the k. welcome to conflict, so thank you for me. there's been slow progress and the counter offensive and you're facing a lot of challenges including worth.