after their work is done, old to ensure what china is cooling, a coded free games. oh i bet set you up to date more well news at the top of the hour of next to on the w business with watts, looking at the impacts of the ukraine crisis, some financial issues i with with josh, please listen carefully. don't know how with to the goal. ah, feel the magic discover the world

around you. subscribe to d w documentary on youtube. ah, phase of a russian invasion of ukraine move markets indexes in asia, europe and the us drop as in best is reckoned with possible impact of a major conflicts. also coming up has been revealed, banks invested billions in oil and gas last year. we'll ask if they're taking bad met 0 promises. seriously. we take you to bus at the heart of tech. he's automotive industry, black car sales, a grinding to a whole,

his date of your business on what's in berlin. welcome to the program. global financial markets have tumblewood as fair, gross every possible russian invasion of ukraine. mondays, losses began on key indexes in tokyo, hong kong and mum pye. that's after the u. s. government warned that a russian attack on ukraine could be eminent. there was also bad news across europe's to. germany is dax was down to percent the foot in london and the pan european stocks $600.00 also dropped. we should also take a look at the impact on russian stalks. well, both the domestic focus mo, x was down and the foreign focused art. yes. index also tumbled on monday all because of the possible economic effects of an invasion of ukraine. for more on this, let's bring in our financial correspondent in new york, yann's quarter. yes. or just explain to us how this is playing out our markets in the states there. well, i mean,

we already thought wall street diving on friday and term. it looked like a rather calm opening here on monday. but then at some point, blue chips dropped another more than $400.00 points. we could actually get away from that to buy the market or closer, the doll johnson only down about them, half a percent. but all those moves and swings, definitely show you that investors are very, i'm just nervous at this point. and that also translates when you look at other market. so the energy market, especially, we saw o price is climbing a 4 percent on friday. another 2 percent here on a monday and w t i at some point t on monday costs more than $95.00 per barrel at the last time we've seen anything like that was in a 2040. so what is, is specifically about an invasion of ukraine by russia that has markets so concerned i mean, 1st of all, uncertainty rogue, right?

because nobody really knows somehow that would turn especially work out. and then also that we might see disruptions and some major markets. if you look russia and ukraine being a big producers of palladium of, for example, for grains, for oil, for a natural gas for aluminum. so all of those markets could see some disruption and we're not just and those varied 10. so geopolitical situation spot on top of it, we also have the sky high inflation and if you have then on top of it disruptions in those markets that would make good prices climb even a more firm and saw that's why at this point an investor some yeah, a very nervous sir, when they are talking and speculating about any disruptions at any of those markets . yes. as itself and as with markets, so about uncertainty, yann's quarter in new york for us. thank you. moving on now despite net 0 pledges, major european banks are funding projects to expand oil and gas production that's

going to report by non profit share action $25.00 of the regions biggest lenders, including barclays, hsbc, and deutsche bank provided $55000000000.00 to energy companies. last year, and while that amount is nearly half what european banks financed in 2020, it is more than double the figure that 2018 international energy agency has warned that net 0 carbon emissions needs to be achieved by 2050 to keep alive, hopes of limiting global warming to below 1.5 degrees. well, let's discuss this further with illinois kellman from the institute for risk and disaster reduction at university college london. thanks for joining us on deed of your business. and we're not actually in a, a post oil and gas world yet, are we still need both to meet the world's energy needs? so why is it a problem that banks are investing in oil and gas projects? well, part of the reason that we're not in a postal and gas world is because the banks are investing the projects. no one's

asking for transition overnight, but we now have plenty we have enough to be able to avoid new investment. and that's what this report is about trying to avoid new investment, particularly when these banks have committed to not doing this. but we are saying investment dropping going, hsbc? invested half as much in 2021 as they did in 20. 20. and it seems to be dropping across the board if we're not expecting it overnight. what's the problem? yes, and this is very encouraging. it's very good trends. and the problem is that again, they've committed to ending their new investment. it could be done much sooner and much more rapidly, and the work that they're doing is very appreciated. but we've so many opportunities out there to avoid new investment in oil and gas. we know that we need this transition and we can do it. so the problem is that it's simply not fast enough and there is this you and lead net 0 banking alliance that all of these big bumps signed up to. does this suggest that they're not quite taking their

obligations under that seriously enough? well, it definitely suggest that they're in a very old mindset. they are absolutely not aware of the major major concerns which we have in continuing to expand oil and gas usage. and also all the alternatives which are out there. they are really digging themselves into deep hole because we know that oil and gas are so heavily subsidized by government. we know that society is pushing to end no subsidies. and to use the energy systems which we know are, are available now, maternal oil and gas. so the banks have the power, the banks have the impetus in the money. all they need is in knowledge in the will to say, you know what, we can do this quickly. we can take on board the criticisms and add to what they're doing in order to go much faster and much more substantively. you mentioned governments, and there's also obviously the companies that are receiving this money from the bank should we really be focusing on them rather than the banks?

it's all of us. and we need to focus on everyone. so the banks are making the decision to invest. that means that they should be part of the discussion. governments are making the decision to subsidize. they have to be part of the discussion. but it's also the companies, the fossil fuel companies are actively seeking investment. they're taking it and rather than going in to demand reduction and much more sustainable supplies, they're also saying, look, we can go for oil and gas. so this is about all of us, including our individual use and where we get our own energy from, we're all part of this planet, we're all part of society. so let's come together and do what we know we can do, which is much cheaper, much more effective and much better for our health and for the planets health. ok, lon kelvin from the institute of risk and disaster reduction at university college london. thank you very much. for joining us. thank you. now let's take a look at some of the other global business stories making the news. here as defense contract a lockheed martin is scrapping

a $4400000000.00 plan to take over rocket engine maker aero jet rocket di regulators in the states had sued to stop the deal. the federal trade commission argued it would lead to higher defense systems. costs is the 1st time in decades the f t. c. as opposed to defense sector deal. the world trade organization says truck global trade bottlenecks. it should ease in the coming months with the most pressure coming from demand spikes, as opposed to supply chain snacks. but the, the whittier is chief economist says supply disruption will be more obvious in the auto sector or in industry shifting to new manufacturing helps take his present reject tie a pair to one has announced that sales tax on stable foods will be reduced from 8 to one percent, as meant to give current customers some relief from the, with the official inflation figure at 50 percent or thereabouts tapped on flour and bread is ready. one percent speaking of which turkey's runaway inflation

has been making headlines for a while now. in berser, the hub of the country's car making industry residents are finding themselves unable to afford their own cities main product. bursar, southeastern bull, is the heart of the turkish automotive industry. more than half a 1000000 vehicles are built here every year. many of them are exported, but fewer and fewer cars are being sold here. inflation and high taxes are turning car ownership into a luxury. it's hard to gauge how workers here are getting through the crisis. security guards break up our attempts to ask them outside the factory gates and they threatened the employees. workers are more willing to speak up at the labor union offices that interested in cousin. i now are in twice the minimum wage here. because it's a good salary by turkish standards also, but even so, it's just not enough to feed a family of 4. if you could cut that,

our credit card debt has doubled up. even tripled has moved as much or the models turkeys. years of impressive growth are now over and the deep slum has people worried. prices for electricity, natural gas and food are exploding. president, wretched tie up air to one is promising a turnaround by the summer. but few people here believe him asking to do don't because they've now increased the minimum wage, but it's still not enough for my children to be able to support a family day. my husband is retired, his pension has also gone up, but it's only about a $160.00 euros a month on god. it's a joke. i think, shook i give it. people are now unable to make plans for the future. an apartment or a car are now out of reach, even for those with good paying jobs. like the auto workers here. i'm get it from us. i only how could i buy a house on my income? cars have been way too expensive for a long time now. i'm here, at least i have

a motorcycle and i'm praying. it doesn't break down what one growth market is used . cars prices keep rising almost every week at this dealership demand has also gone up because new cars are so expensive. people try to get their hands on a use one while they can still afford it for the slot customers might, for example, try to replace a 4 year old car with a newer model. wiley still can, and that's got the market moving dead off of those fisher mer. why should the pandemic inflation and high taxes have come together to make this a hard winter for turkish consumers? and just finally, lovers in many parts of the world have been celebrating valentine's day. it's a day to treat that special, someone, perhaps with a gift. and what could be more romantic than a big old bunch of flowers? it's a bump a day for those who seldom of course, hundreds of millions of beings out each year in the us. meanwhile,

if you go to vietnamese the vietnamese capital hanoi, an annual valentine's day parade, you can see here. these florists provide around a $100000.00 roses, to be lovingly draped i because buses and even bicycles. so from me in the business, same hand berlin from all to our website data, we dot com slash business. until next time you take a modem in cultural heritage and freshly level jewish museum around ah, 20 needs artists to right. know lightening freedom in from vice oregon. oh works with d. w. a pulse with the

beginning of the story that moves us and takes us along for the ride. it's about to perspective culture information. this is dw and d, w made from mines. o. ah, one of mankind's oldest ambitions could be within reach or what is it really is possible to reverse aging researchers and scientists all over the world are in

a race against time. ah, they are peers and rivals with one daring goal to help smart nature more life starts february 16th on d, w. d. ah, that's awesome. what you give to others remaining. what you keep for yourself is that ties still? ah, this is the, the not just going to so much but not music. they tried but they couldn't. and then it got put, oh, really opposite the end of the road. music is a beautiful thing. it's a religion to be.