ah, you're up to date now, stephen beasley is here next week. business use of course i'll have more headlines for you at the top of the hour. there is more on our website d, w dot com and on twitter and instagram to at dw. so i'm jerry dradian, berlin, thanks for watching. ah ah, what people have to say matters to us. mm. mm. that's why we listen to their stories. reporter every weekend on d. w. and started out with speaking condition and transformed into an orgy

of hate and violence. the history of the ku klux klan, the oldest terrorist organization in the united states. its members white for a racist state, ruled by white supremacy founded over 150 years ago, gets repeatedly died out but always been resurrected. the ku klux klan starts may 11th on d. w. ah ah, oil prices are high and could get higher. the world's top economies agree to ban crude from russia. the move could hit moscow square and it's war chest, but it's likely to push up already high petrol and grocery prices. also on the show, it was one of the biggest initial stock offerings in years. now, electric car maker livia is seeing its fortunes fall as it struggles with supply issues and the hyperinflation is played venezuela finally eases a bit, we'll take

a look at where the country's economy currently stands. i'm stephen beardsley, in berlin, welcome to the show. she 7 nations have committed to phasing out russian oil in a statement issued sunday, the countries including the u. s. germany and britain did not mention exactly how they plan to do so. in the u efforts who agree on a block y ban have already seen delays on the objections of several member countries, which say they fear the mood could backfire causing an economic shock. a rapid embargo of russian oil is also expected to send up the price of crude oil. at a time, an ordinary families are already feeling the pinch on the price of commuting groceries and other essentials are hitting consumers hard. we asked berliners what they make of the price at the pumps. on the hood, what can you say about it to apply the prices are crazy on it's not, and i don't believe that this just has to do with to warn you, crane or something like that. they're just trying to make money that i've done or

get my i, it's just crazy. there's never been anything like this before. and i've been in germany for 30 years and i've never p prices like this. i just looked at it frame. it's really extreme offer. it's not so bad for me because i drive a small scooter out. so nothing, i mean, but i basically just leave my car at home. i bought my scooter extra because of this to get around the city. what we did, we are all from out of it. it was begin by wednesday is that pleasant hold. obviously, don't want to lower the gas prices and they should lower the value added tax. and that's what i think is like how can a normal person afford to drive a car? it's becoming a luxury all to fun. with books, if i'm joined now by claudia comfort, she researches energy and climate policy at the german institute for economic research in berlin. a. claudia prices at the pump. our already hi. how much worse can it get with an oil embargo? well, we don't know, because right now we are in

a very severe energy crisis because of the russian war and we don't know what's happening. but this of course, a lot of uncertainty and the market there is enough oil on the international market . but a lot of expectations speculations, which drives, especially the oil price high. and also the demand is quite high still. so we don't know how far it can go, but right now it's quite high. do we have any understanding, economically speaking, how much pain a normal consumer can take when it comes to prices of gasoline? prices of perhaps, oil products, plastic things like that. well, what we see from the economic scenarios is that the inflation is already increasing . so the prices of all goods already increasing, that of course, reduces the income as other people have to spend more on the income side to, to, to get all the, the products that they need. and this is for sure also for the,

for the total economy. and hopefully we will get solutions out of this, not only by helping low income households, but also by reducing the demand of oil and fossil fuel in general by doing much more to save energy and also to do much more to increase a chef renewable energy the even here in berlin, there could be supply shortages. there are a couple of key refineries in eastern germany that are under discussion right now for what their future is going to be if there is an oil embargo. can this be managed in such a way that the public doesn't feel a lot of these issues, including these supply shortages if they took place? well yeah, i mean that there are preparations also from the ministry and a lot of government institutions have already prepared because right now it's only one refinery left. that is the refinery feed. well, 12 percent of the products the to the market are coming from. and this is still in

the ownership of austin. yes. so a russian company. so in case they should not deliver that amount of products of men or products and we could get also substitutes and to this is manageable and they are a lot of preparation. so i don't think we should get fear of such kind of shortages, but we have to prepare at the same time. is it fair to say this will be a tight rope walk for the government between inflicting the right amount of pain on russia and making sure the consumers are hit too hard? is that a fair assessment that it's not going to be very straightforward but, but could be difficult? of course, it's very, very difficult for all policy makers and decision makers these days. because on the one hand, we can, we need to get rid of russian fossil fuel. on the other hand, we don't want to get the oil prices and fossil fuel prices to such kind of high

level. because then the consumers and the whole economy is affected negatively. but on the other hand, we cannot go with russia further as we did in the past. so we need to get solutions . and that is to get fossil energy from all different kinds of other nations than russia, but also to save more energy and to increase said the share of renewable energy or quality comfort with the german institute for economic research and berlin. thank you very much. thank you. let's go now to some of the other global business stories making headlines. china saw export growth in april, 4th was lowest level in almost 2 years. exports grew just under 4 percent year of a year. that's down from almost 15 percent in march. the newly released figure is the latest to show the effect of china's harsh city wide locked downs. intended to curb the spread of coven 19, with a knock on effect, industrial production and international trade. dating at maker matched group is

taking google's parent company to court. it says the suit as a last ditch effort to prevent alphabet from removing its dating apps from the app store. alphabet threatened to boot the likes of tender ant. okay, cupid, after match group refuse to share the required 30 percent of in app sales. but in the u. s. doctor was re continued to slide among the days losers river automotive. the electric car maker slumping nearly 21 percent and monday, trading sell off, came after restrictions expired, preventing some major investors from selling stocks after the company went public last year. afford a sold a large portion of its shares and river to day. the companies last more than 3 quarters of a share price. or let's go to our financial correspondent, james sweeney in new york for more. james revene was a massive i. p. o. last year, one of the biggest years in fact, and now it's, it's suffering this course right now. what's going on?

well, if you're asking what happened, it's more like what didn't happen because after going public out during it's valuation of $90000000000.00 less november shares. they come crashing down to earth, them more than 77 percent. so for this year, and it's due to a combination of factors. look, here's you take away points, ribbons gains. they've come from speculation, speculative growth. and then in early march, the truth finally came out. the company reported a near $5000000000.00 loss in 2021 and $1.00 that supply chain issues with lower production this year. and following that release today, martha companies, i feel like a period coming to an end, and it came from early investors a chance to get out while they still could write early investors like ford, pulling out 8000000 shares. cheapie morgan looking to sell about 1315000000 shares on behalf of an unnamed investor and speaking afford, why would ford keep us money and really in a company that it could not even reach an agreement with last year to create a vehicle and ford, they went their own way and that was somebody delivering, it's f $150.00 lightning pickup, which is a direct competitor really ins, pickup truck. right. so ford is let the production expectations and river in the

story has been the same expectantly. 25000 this year. we're doing okay. we could be better. hang in there, we'll get there. but it's going to take a while. no positivity, lackluster results. that's what happened. that's what happened. veridian. james, you also mentioned the supply issues as to what extent are they affecting evie producers across the board? well, i'd say the problem of supply issues or across the board, but it's really heavy for ribbon because little use for it as an example. the f 150 lightning has so much demand. it's back ordered for the year. it can't be bought, production has been doubled by 150000 trucks next year. and this is also amid the same high inflation of supply chain concerns that really and blame for poor results and 2122 people in the street to talk about mercedes, the, to west tesla cyber truck, the ford mustang, the b and w. you know what people are not talking about. i haven't once heard people say yet that really and i can't wait to get one. that's the coolest car ever. and that's an issue that they brought upon themselves. all right,

james sweeney in new york. thank you very much. over to latin american now venezuela is finally seeing reprieve from the hyperinflation of recent years. of the growing use of u. s. dollars in transactions there has helped still the countries currency is hardly back to health. neither is the economy sales have been improving it. francisco valentino, fruit and juice stand in caracas. aid hears a viper, inflation r, behind. now he sells more, especially in dollars when in order that us yeah, well now, thank god, there has been an improvement for me in terms of sales. people are a little more comfortable with a dollar level before they were afraid to consume or spend because with me or they got that at the stall run by gustavo marchina, sales of holds increased customers can pain dollars, ball of ours, or electronically. right? now things are very even to give you an average. they pay me hoffman, believers in health in dollars. ms rela,

was able to curve my very inflation. but the ball of our, the official currency is so devalued that it is only enough to pay for candy or public transportation. the maximum that can be withdrawn from banks is 30 ball of ours per day. about $5.00. for economists like ronald barza then as well as an official dollarization. it's not the only reason why prices have stopped rising to get a loan of to see the dollar is useful seat the boulevard is new so both can be used as means of payment. of said they are not the cause of the reduction of hyperinflation, nor of the apparent improvement of the economy. that only focuses on the commercial sector or tourism, but does not focus on the provision of health services or public education. for example. dollars enter mostly through the frontier or come from savings and remittances, but salaries are still paid in balls of ours that generates demands for wage

increases and protests. a symptom that ye, economic crisis in venezuela still hasn't patched. that's it for me. and the dw business team, you can find out more about these and other stories at our website, d, w dot com slash business. check us out on youtube as well under the dw news channel . seem beardsley, thanks for watching or of russia traveling to the edge of the it on the borders of finland, norway and lithuania, the war and you crave army. in the past, contact with russia was close and commonplace. how is he dealing with the new thread encounters at the border? tucson on dida with

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feel the magic discover the world around you. subscribe to d w documentary on youtube. with a large scale military drill in the arctic involving 30000 nieto troops in a defensive exercise. not far from the russian border. with the worried about developments in europe. well, we can expect, tense time has been lucky that we go to mother. there's a widening rift between east and west. something few people saw coming

all these did with the war which grew.