i think many of that has an especially in the environment of that. so definitely every country has some as when some have sooner, st. my son, some as others. but everybody and everything we can contribute to sustainability and will be able for us to design sustainable data center in any country. and i want to thank you very much for that. that is the microsoft perspective on others 1st global data center, which is going to provide localized data as well as secure and easily accessible digital vision drive the distant b is frank to aspire to her. ah, what you all deserve me several robin in doha reminder of our top stories the year and human rights chief has released a damning report into china's alleged rights violations against the weaker population. just minutes before her term ended. we shall,

boshoway says that beijing's arbitrary and discriminatory detention of weekends and other mostly mustang groups inch in jang, may constitute crimes against humanity. it was 13 minutes before the end of her term, the end of the month that the report was finally released. and i can tell you human rights groups are pretty angry about that. pretty angry about the way this was done . but they also tell me that is probably indicative of the pressure behind the scenes that was coming from china. we have a statement from human rights watch, or the i commit is damning findings. explain why the chinese government fought tooth and nail to prevent the publication of this report. united nations inspectors have arrived in ukraine. southern said, here's a preacher there on a mission to prevent an accident at europe's largest nuclear power side there, which is under russian control. european union foreign ministers of agreed to suspend a visa deal with russia,

which will make it harder and more expensive for russian citizens to visit you countries. the decision comes after ministers met in prague, theory and state media says israel has all several and strikes togs and letters international airport, causing some damage. not for missiles reported to have hit the runway, and depos believes to contain missiles supplied by iran. the casualties have been reported say, fall focused on on me as on high alert for more floods in the south of the country . the industry there has been swelling for weeks threatening and of the way the flooding. meanwhile, army helicopters arrived in the area that have been cut off for days. britain, former chancellor, the exchequer and foreign secretary have promised conservative party members of el, cut taxes to tackle the cost of living crisis, where she soon, i can live trust. we're making their pitches at the final campaign event. before party members choose the u. k. next, prime minister. the result will be announced on september the 5th. you can follow their stories on our website without their adopt comes back to throughout the day.

don't go away. i'll be back with counting the cost on the other side of the break, and i'll see you getting off now with more nice to stay with us. examining the impact of today's headlines is that both hotline is what then? setting the agenda for tomorrow's discussions. i would likely is that, that ukraine is actually going to get the rebuilding support that it, me international filmmakers and war glass journalists bring programs to inspire government. i don't think i can return to my life anymore. thought is eroding some of it's almost 5 freedom on al jazeera. ah, [000:00:00;00]

with hello, i'm so robin, and this is counting the cost on al jazeera. you'll wiki, look at the world of business and economics. this week. resurrecting cole in europe several european nations, reactivate coal fired plants after a ban on russian fossil fuels good that fill the energy gap and we'll climate goals go up in smoke. also this week, joe biden. colds at the final piece of his domestic agenda. the inflation reduction act is the latest legislative when full, the u. s. president, tackling climate healthcare and tax, but is it enough? after years of exponential growth take, giant suffered painful losses this year. so why are investors ditching technology stocks? and is the party over for the sector? ah, the european union is trying to say gas full wind. as russian energy flows become

increasingly uncertain. but the block has to bend something else to fill the gap. and it's looking to cold, the most polluting fossil feel, despite to plan to cut carbon emissions in the coming years. the international energy agent. he says that use coal consumption is set wise by 7 percent this year . however, it could face a shortage in supply. a band on russian coal came into 4th earlier this month. the european union band, russian colon ports in response to the invasion of ukraine as part of sanctions in april. it says the measure is expected to cost moscow more than $8000000000.00 in last revenue a year. the block imports almost half of its coal from russia, with germany, poland, and the netherlands, the biggest buyers, almost 70 percent of the use thermal coal, which is used in power and heat generation comes from russia. now some member

states have extended the life of coal plants or reopened others to say, god, power supplies. others of ramped up supplies from several other countries, including colombia, australia, and the us. poland particularly relies on coal rock and gas for power and heating. the country is now facing widespread cold shortages after russian imports of fuel were banned. andrew simmons reports now from cut pizza. poland prides itself on its potential for being totally independent of russia for its energy needs, but there is a problem. it's a shortage of coal, not gas like the rest of europe. rough roads, coal center is normally stocked up for winter by now, but he can't find any cold to buy. and if he could, he'd pay almost 4 times what he used to use them. and gordon cam. i'm not a minor orridge y'all to just put the coal is right here beneath our feet. and i've been trying to buy it for 3 months with 0 result. he's right, this region is rich with coal,

that polish production is limited and the government has banned imported coal from russia, even though it's cheaper and more suitable for domestic use. we didn't invest in nuclear power yet, or we cannot rely on natural gas. so all we have is gold when it comes to the heating sector, the situation is even worse because we were heavily dependent on russian. ready co, poland burns, a lot of coal, 87 percent of the total for households across the european union. coal mines surrounded by cues of trucks can't meet the demand. and if people knew the level of profiteering going on, they be even more alarmed. there's a reason that truck drove us from all over poland or spending days on end and cues like these. it's because the loads may be small, but the profits are big. drivers are known to make at least a 100 percent profit from a coal yard dealer who will then raise the price by at least another 100 percent.

this driver admits the 2nd old will suffer, or we need to be tagged. what the government should do is get pension as a special allowance on coal delivered to their door. it's sick, i don't want to profit from human misery, but that's how it is. the government says an annual coal allowance of around $630.00 a year will help. and ministers say companies are importing coal ahead of the coming winter. polish companies are now importing call from other countries from colombia, indonesia, south africa, and replacing with that the, the quantities of called and we're coming from russia. it's a bit of a different logistics, so it creates challenges. but right across poland, people like this homeowner feel the government isn't doing enough. joining me now from berlin is professor cast and nor half no cost in these the climate policy department that the german institute for economic research and as the professor at the institute for economics and law at the technical university of berlin. it's

gustave with us on counting the casa, i mean the cold and has now gone into effect. i mean, how much of a coal shortage crisis is looming for europe, generally speaking? well, colors largely shipped across the globe. so m that, than in russian culture, us primarily means that we are getting call from other ages of the world. the prices have exploded on called global call markets. so i think that as f affecting everyone that uses coal, we have only one big issue right now due to the draught, a lot of the shippy in land in europe is a constraint that is the more bigger concern right now. so what do you make of that sort of situation in, in europe that coal is re emerging now as a primary energy source and it comes, as you say, at a cost. we see, i think the transition strategy over the next 23 years to have a bit more whole throughout this period than was planned at the same time,

the emission targets fully a 2030 our firm. and they will be reached by accelerating the renewable deployment . rather than by local beyond a very short period crisis right now. i mean many a still debating sort of the potential effect they want issues and the net effect really on climate change when the i e. a says the ease demand is to rise by 7 percent. does a considerable amount. even if it's in the short term, we're on the coal certainly, and we know that to produce one megabyte of electricity from coal. takes 2 for some called 3 times more c o 2 emissions than if you do that with gas. that at the same time, we do see big assets to safe gas across europe as much as internationally, and this will at the same time, also safer on emissions. so the net effect for european missions i would have to pay is going to be the reduction of emissions altogether due to the large savings

triggered by programs and the very high prices for fossil fuels. i mean the debate continues amongst critics. they often talk about the fact that europe was previously shutting down coal fired plants. it was still getting polluting fuel from russia in the form of coal. i mean, where does europe, for example, get its coal now in this dilemma that europe is facing because it's damned if it does and it's damned if it doesn't. well, i think fossil fuels. heather horrific footprint, and i think this indeed is something that you seen a policy arena where the public can make up really struggling hard to respond to the situation. you had called exporting countries both in the d like us or trailer, but also beyond this. and in a way, ne auto, she will you by had the footprint before it reaches europe, and then when you burn it in europe. so this is, i think that we use

a lot of policy makers tend to accelerate the phase of fossil fuels. and at the same time, want to balance this to ensure the energy is available and to some extent, you can talk about the fordable in this transition period. of course, the, the banum coal aims to sort of punish russia for its invasion of ukraine. how painful is still going to be for moscow in the short term and the long term in your assessment? so far as i can still export in the cold to some other parts of the world. and the global coal prices typically in the range of 50 euro have increase to something like $350.00 euro. so even if i'm running to sell at the discount, i think at the moment it a sudden is probably not very painful for russia. i mean, when we talk about renewables, it's all, i mean, how complacent has europe be not to have a backup plan in the years leading up to this particular event and the invasion of ukraine and all that's come with it when it comes to both gas and coal supplies

because at the end of the day they have implemented those green policies as quickly as many would have liked. what do you think the agency is now? is there an urgency to get that impression from the noise is being made from various capitals across the continent. i think the scene, but everyone, the urgency to really make additional energy available to replace gas, particularly strong now and obviously colon by 2030 as well. and this, i think, is reflected in this additional increase of the renewal target from 32 to 40 percent of all energy to be provided by renewables. by 2030 europe. this obviously they need to be backed up by a set of policies to finance investments renewables. locate the integration the grids and to do all the things around our energy systems to allow for that faster shift. and i think if you look across your piece ministries and in brussels, everyone has been working throughout the summer to kind of help to make this

regulatory framework fixed up to this school to get your insight and your thoughts as well. professor cast no have joining us from bell and thanks very much for your time. thank you very much. the. the high prices are suit, housing, and energy, and let incomes overstretched pulling suggest millions of americans. angry about the rising cost of living. president joe biden has said, taming inflation is top priority, and he signed into law a sweeping $750000000000.00 tax healthcare and energy bill, which ends to lower prices and tackled global warming is a major victory for the president and the democratic party ahead of mid term elections in november. this bill is the biggest step forward on climate ever, ever as gonna allow. gonna allow us to boldly take additional steps toward me. all my climate goal was we set out we ran. we're going to cut the deficit point out by

another $300000000000.00 with inflation reduction act over the next decade for cutting deficit to fight inflation. by having the wealthy and big corporations finally began to pay part of their fair share, a larger $2.00 trillion dollar spending package known as the build by better act stalled in congress last year. the new legislation, though less than biden originally wanted aims to achieve many of the same goals. one of its top priorities is making health care more affordable. the bill will give medicare the power to negotiate the prices of certain prescription drugs. expiring health care subsidies will be extended for 3 years, and it's the largest climate investment in american history. almost $400000000000.00 in new spending will go towards clean energy and climate projects to help cut carbon emissions by 40 percent by 2030. much of the money to fund the initiatives will come from tax reforms including a new 15 percent minimum tax on large corporations. the inflation reduction act is

the latest in a series of legislation delivered by congress that could help form the core of president biden's economic record. his wins include an almost $2000000000.00 su plan to help get workers and businesses through the pandemic which was approved last year. plus a one trillion dollar infrastructure bill and around $280000000000.00 in spending to encourage domestic semiconductor manufacturing and scientific research to counter china. i'm joined by so each are in geneva. he's the chief economist at lombard and he a bank good. have you with us on the program? i mean, we've been discussing the impact to burning more coal in europe on those climate goals. how much would sort of the new us climate bill law help to save the planet if at all? well, the short answer is that it is not necessarily a short term game changing because of this is leisha. now it's not the less

a pretty well designed bill address is significant challenges when we think about analogy and climate and health care. but it is a 10 year plan. it's relatively small numbers when you think about the scale of the us going to me. when you think about immense challenges that we face when we think about climate and it is on a 10 year horizon. so, you know, perhaps on do margin it is going to, has it is necessary, but in the short term, the impact is going to be productive. these more, of course, we have to consider inflation. i mean, this act is called the inflation reduction act. but how much does it really tackle inflation in the federal reserve really and its decisions on interest rates really determine where inflation sets absolutely. when the transmission mechanism to limit inflation is mostly reduction into deficit. but also trying to

reduce headscarf costs. so it might have a minor impact, but again, it is a 10 year plan. the fed is facing inflationary pressures and has to try to dump them in the next 3 to 6 months. this is not the kind of time horizon in which we expect a lot from the r a, d i r a, so relatively limited impact on the short on the short term. but in the long run, you know, limiting deficits also means that fiscal policy is moving in the same direction. that money re policy. and that is a good thing. i mean, what do you make of critics blaming by the name of the pandemic stimulus plan? and how that infected inflation is, or is, or was that policy part of the problem? and, i mean, it didn't generate a very significant demand, boom, that's now results in inflation. but it was a policy choice. we also have to keep in mind that, you know, perhaps doing fish that we have today is the price that we have to accept to pay

for getting out of depend demik extremely quickly with relatively limited damage to the job markets in the long run. of course, i mean, if you will see damage to the economy, as you say that the cost of living for every individual, including many americans, is the big issue. what can the president do to reduce the pain here? what it needs to keep moving in the same direction as the federal reserve, right? the policy has to be committed into limiting, short term inpatient repressor. it's pretty clear that the u. s. federal reserve is going to shift to a restrictive stance and probably stay they will know more relatively soon on on the wrong. so basically the us government has to act in the same way and basically not put forward policies that might actually increase spending and bethel inflation . the if the president and the federal reserve are working, you might say independently,

they all have to work together to tame inflation. and that comes with its own risks, isn't it? because there are many factors that are influencing global inflation right now. so what direction do you think or do you see the american scenario following? well yeah, 2 sides. know, 1st of what we have to accept show or demand. there is going to be a gross cost into fighting in faith. and it does mean that we will have to see some damage to the labor market, but again, there are 2 scenarios. it can be very significant, an uncontrolled damage, or it can be relatively mild and well, well organized damage. thinking about my refresher, know the soft landing despite, despite the fact that they will be some cost. so that's one engineer, slowed down and demand hoping that that slowed down won't be too severe. and the 2nd part is make sure that the supply side of the economy continues to operate in the right way,

making sure that the supply side stress continues to to i bait. so with the chinese reopening here, we're thinking about commodity prices as well. we're thinking about the cost of shipping and also potentially labor shortages. so it's really about the supply side and the demand side of the economy going in the same direction for an improved inflation outlook. and of course, you know, any policy has to be a win win policy financially for the public at large. and as we sort of had towards the end of the summer and into the autumn, a win at the ballot box in mid term elections is very important. so is money in the pocket, the positive difference americans will vote for in your opinion? well again, what is, what is very important today for the administration is to, is to be budget. because all or that has been designed and the i are a, making it a budget neutral piece of legislation. so yes, there is increase spending that they are

a credit subsidies. but the idea is that, you know, you raise basic, you count on raising revenues from minimum time and, and some other elements. so pretty clearly whatever happens in the mid terms, it's not going to be easy for the administration to have the same level of freedom of action when it comes to, to legislate. so that way that we'd be a home government in, in a way of some formal position, which means that whatever device administration wants to do, it has to do it before the november election. because after that, we're going to be in some form of a party because gridlock. interesting times, good to get your insights on each other from lumber, chunk in geneva. thank you very much. the pandemic has wrecked havoc around the world in the past 2 years from travel and tourism to manufacturing. but one sector has reported. i watering profits tech giant's apple, for example, had so much extra money that it bought its own shares with more than

$90000000000.00. that's almost as much as kenya's annual g d p. now the, as the world opens up, people are relying less on technology to shop, work and play up last status as the most valuable company in the world. ali the share. shares of technology firms like shopping fi, and netflix have been in free fall in the past few months. plummeting as much as 70 percent tech companies like amazon and apple recorded better than expected results for the 2nd quarter earnings. but many firms are skating back hiring and slowing down spending plans. well to discuss all that i'm joined by daniel i's from new york. daniel is the managing director and senior equity research analyst when bush security is good to have with us and counting the cost. i mean, in general terms, daniel, what do you make a sort of the tech giant sales and profits in, in this quarter? i think overall it's better than feared. i think many were expecting armageddon. i think you all to me will, can microsoft, apple,

amazon across the board holding up firm than expected. but clearly here is darker, storm clouds and the horizon given what we see in the macro. why are investors and in ferry selling off shares in stock in tech when these companies have been on a winning street for decades? i mean, why they being ditch now? look, i think in tech stocks overall. i think the over corrected earlier this year. but, but it's a rubik's cube, mac or, i mean, given what we've seen in the fed given recession and the hiking of interest rates, i think what we're seeing is just the risk off across the market and tax the actual front and center. so i think there's a fear of what's around the corner is the guns, the 2nd half in 2023 with the recession. and i think that's what you've seen. tech stocks under such pressure. and even though this is been said, sort of golden darwin, but the last years, that's why multiples of compressed to have me talk about recession. i mean, the global economy is a, is

a huge question mark for many countries around the world. and for the businesses on, in those top 10 states, i mean, what are the main challenges for companies anywhere in the world, whether established, look, i think there's uncertainty across the board. i think the bigger worry is you know how this is going to. busy play out if it's going to be a software or hardware and how is that that consumers as well as the enterprise environment. now, so it's a complex geopolitical as well. but i think when you look at big tack as well as you know, i work in the, even my tasa across the board. you can said the man around the edges come off, but we're still very bush and tax documents. the 2nd half of the year. i think tech over cracked and i can tell you cover and tack over the last few decades. it's extremely negative in terms of the sentiment on wall street. i mean, it's hard to say the bubble bursting perhaps full tech giants in the us to the public domain when,

when the public at large and look at giants like apple. i'm the rest of them. i mean, it only takes one good idea, one new development. so to, to make things quicker, faster, more efficient, and those tech jones back on top again. i mean, how do you see that development happening in the years has, i think, protect the rock of gibraltar. they've almost become utility. it's for the average consumer. and that's why you look at apple, you talk about install based mon, almost 2000000000, you know, in terms of consumers. and even when we look at i phone 14, i look down the road. ok, apple in terms of have an a r b r. that would be apple blast and we alternately, we baffled car in 2020 bad. you could the cloud in terms of microsoft, amazon, google does not go away. we're going to have clearly recession, but we believe it's going to be short and ultimately on the other side of this, that's why we want to be on impact in tech stocks, in my opinion, needs the best ways to get there is

a couple of new developments happening well in the last few days, one was president biden sort of investing through his new legislation into the 70 conductors. and chips also were looking at becoming an apple thinking about moving their operations from china to countries like india. perhaps. i mean, there's a lot of movement, there isn't. what do we have to look out for us as sort of the big game changes? look, i think there's movement, but realistically, probably the next 57 years. i mean, you may be of 34 percent that moves away from china that should the us in the or some other countries. i think reality is that the supply chain is cemented in asia . if investors are questioning where they put that money when it comes to investment, especially in tech stock, what do tech companies then have to do besides in been something new perhaps to attract those investors back? or at least give investors, being courage meant that they shouldn't be left behind. i think one thing is really

around cutting some cost and making sure margins the firm during a re, sasha. i think you've seen that from apple, microsoft, google among others in terms of cutting costs, but, but also they have to make sure that the growth stories continue. and i think that some of the challenge that you're seeing with networks. but then on the other hand, if you look at facebook, i think that's where they're going to such a massive transformation in terms of the matter versus really away from social media. but, but ultimately it's really holding their hands during these transitions. that's why alternately in this market name's a gap or amazon, microsoft. those are some are favorites based books and example of a company where, you know, they have to really get through that transformation to the metaphors for investors to leave the debt to be successful. interesting shot, get your insight daniela's the managing director of what. thank you. there it is in new york. thanks so much for joining us on counting the cost about so i'll show you

the sleep get in touch with us by treating me so underscore rahman. and to use the hash tag h a c t c. when you say or drop us an email, counting the com, that's out there a dot net, that's our multi online account. is there a dot com slash ctc? that'll take you straight to our page, which has individual report links and in time episodes to you, to catch up to the tradition of counting the come to i'm so he'll run from halting . joining us. the news is next here on algebra. ah ah. the latest news, as it breaks,

doctors here tell us that they're desperate to get more antibiotics and other medical supplies between those who are injured with detailed coverage for k walker . then there you and young's a plastic container of their fry until that demand for bag is matt from around the world given as the new king to parts a warrior. he needed to see his praise. brenda lloyd, a loyalty. frank assessment, the heat waves we're seeing now, are they a product of global warming? we will say more of these events. what is happening is that climate change it making them work in depth analysis of the days headlines inside story on al jazeera . ah, china is detention of muslim league isn't changing, may constitute crimes against humanity. according to a long delayed, un human rights report charges on bassett or to the un tells al jazeera the report