lead to boca hyde, their identity. they're determined to defend their rights for as long as they can. well, that's all for now after the break, rob watts will be here with the business news. and don't forget, you can stay up to date on our website, d, w dot com, or you can follow us on our social media accounts. on pablo phone alias in brit in for me. the team here take care, see the top of the next hour. sh . i'm skin that i think that's hard and in the end these are me. you are not allowed to see you anymore. we will send you back. are you familiar with this with the smudges were lions as of the what's your story. ready ready he wasn't, i was women, especially a victims of vine and seen a lot of them take part and send us your story. we are trying always to understand

this new culture. so you are not a visitor, not the guests. you want to become a citizen. in phil migrants, your platform for reliable information ah, more st real is after a brutal week for us stalks, the bad market looms with inflation fears rising or hear from our correspondent at the new york stock exchange. joe biden is in south korea at the start of his asia tow. the president hopes shoring up. tech ties in the region can help the u. s. compete with china and also coming up here. how and organic pharma is taking on one of germany,

car giants. it caused me to be business. i'm bought in berlin. welcome to the program. now, inflation hits american wallets whispers of a bad market to getting louder on bull street. friday, failed to make up for days of steep declines on u. s. market, the highest inflation in decades means investors are bracing themselves for an interest rates higher from the federal reserve. bad market is looking all but confirmed to the s and p $500.00 nearing 20 percent below its record highs at the start of the year. less cost to our correspondence at the new york stock exchange. teddy auster and discuss this further. teddy. just tell us why this. we can tickler has been sort of a tough one normal street. well, we actually saw a shrivel of good news today as narrowly avoided a bare market. that's the decline of 20 percent from a recent hive in january. but yes, it has been

a grueling week. we've seen the 7 straight week of losses for the s and p of it's the longest losing street since 2001 the dot com bubble. the dow jones isn't doing any better. 8 consecutive week of losses. that's the most. that's the longest streak since 1923, so we really are in some remarkable waters right now. and all of the fear is point towards recession, high inflation and the supply chain. disruptions from the pandemic and the war in ukraine. well, the last time we had risk or recession was in 2020 of us last time we had a bare market as well, very short live time because the federal reserve pumped money into the economy, sending text stocks rallying. and that's what we've seen the past 2 years, but now the fed is doing the opposite. and we see that it's going to try to continue to contract the economy values if that is going to invest. if someone spooks. but we saying the sell off across the borders,

they affecting some sectors more than others. well, we haven't seen very many winners right now. the big news today is who the losers are actually. the saw several weeks. we've seen tech stocks falling, but this week we've seen retail, wal mart and target posted their earnings did pretty, pretty much worse than expected. and so when big retail, those poorly small retail is expected to follow. so again, all fears of this recession, we also saw tesla dragging the s and p down as well for a number of reasons. first and foremost is probably due to china, 0 coven policy, which is disrupting the manufacturing of the electric vehicles in the country. then we also saw the s and p s g index dropped hassle. that's the environmental social and governance standards for investors drop tesla from the index. finally, you on mosque? well, we've seen some uncertainty around is take over a bit of twitter. all of this is dragging down the s and p,

so really it's retail and tesla this week. ok, teddy australia, more street for us. thanks for keeping an eye on things. saying in the united states and president joe biden is actually touring asia with the aim of shoring, of economic ties in the region is 4 day trip has kicked off in south korea with technology ties high on the agenda. the us president is hoping to secure american supply chains and challenge china's growing dominance. after stepping out into the south korean son, biden's 1st stop on his visit was purely intended to demonstrate the depth of technological cooperation between the 2 allies. as soon as the greetings were out of the way, at the u. s. air base near. so the president sped off the samsung nearby semiconductor plant. his new south korean counterpart, yoon suck y'all, was waiting to greet him. the 2 leaders then set off on a tool of the plant,

the largest of its kind in the world, according to biden, the loss facility will serve as a model for $17000000000.00 factory. samsung is planning in texas, boosting the production of the types of advanced competed ships made of the plant is a key goal of the president. as he stressed at the end of his visit, global semiconductor shortage is cause a shortfall and consumer goods, especially automobiles and contributed to higher prices around the world. and now foods brutal, an unprovoked war and ukraine. as for the spotlight, the need to secure our critical supply chain. so are our economy. our economic and our national security are not dependent on countries that don't share our values. why he also made clear his belief in the, in the pacific peacher importance was so much so much of the church of the world

was going to be written here. in the under pacific of the next several decades. were standing at an inflection point in history or decisions we made today, or a far reaching impacts on the world. we live to our children to morrow. the biden, those decisions may well include how to react to a new provocation from north korea. us intelligence is warned that the north may carry out another missile or nucular test during the president's visit to asia. now, russia's war in ukraine has had, obviously a devastating economic effect worldwide. but no sectors have been harder hits than agriculture and food exports of wheat. another staples down as is the production of essential fertilizers without them farmers worry for this year's harvest in venezuela, it's making an existing crisis, much, much worse. last preparations. the season's 1st big rain has fallen and the fields

are ready. it's time to plant corn and bring out fertilizer once the tractor is fixed. but besides the stubborn engine trouble. another problem has farmers worried they have run out of supplies. i came by this well here in venezuela, we currently need around 150002180000 tons of fertilizer. and what has arrived with the inventories we have is around 100000 tons by our long rough im, me pulling up the problem. most of the fertilizer comes from russia, ukraine, and belarus. if it can't be replaced by product from other countries, the harvest will be weak. one hector of corn crops can produce 10 tons, but that figure can fall to as low as 3 or 4 tons if the conditions are not right. yeah, mama, la quinta, we're going to work with a shirt laser we half, but we know that it's not enough. in some parts, we're going to use under doses,

which is serious because it affects not only the yield, but also the profitability of the farmers. for now, farmers keep sewing, hoping for ideal weather to make up for the lack of fertilizer and for the war to end and supply chains to recover. now some of the other global business stories making the news, russia shutting off its gas deliveries to finland according to finished energy company chasm. the country has so far, refused to follow russia's demand, to pay for its gas in roubles, and has drawn moscow's anger with his plans to join nato. ross's already cut off supplies to poland and bulgaria and reason. weeds to produce a price is arising at their highest pace on record. according to the country statistics agency, there is over 33 percent in april compared to the year before germany's statistics office pointed to rocketing energy costs is $1.00 reason it means average consumers could see more rapidly rising prices in the near future. former german chancellor gerhard schroeder has stepped down as

a board member of russian energy for ross net. he faced severe criticism in germany for his ongoing connections with russian firms and his refusal to condemn president vladimir putin. schroeder had held the lucrative position since 2017 staying in germany and a farmer is taking on one of germany's biggest industrial giants in court friday or the beginning of the civil case brought against volkswagen. b, organic farmer says emissions from the companies cause a destroying his business for 7 months, a year. if i have commerce kettle get to enjoy the green pastures of his organic farm, but the future is full of uncertainty for him. and we farmers depend on an intake climate, we need this relative balance of nature which keeps the land fertile back. i mean, if we lose that venue, then we lose the most important thing we have to have. he says climate change has

led to droughts in excess rainfall causing damage to his farm and neighboring forest. and he sees folks wagging as partly, to blame for that for very satisfied. w is the world's 2nd largest, so to mobil maker, and through all of its product is responsible for c, u 2 emissions, roughly on a par with australia. and that is why it is quite clear. major industries also have a responsibility in kenner cherokee congressman. he thinks policy makers are not regulating the industry enough through the law suit. i'd have comma wants to make the w take more decisive climate action and stop building cars with combustion engines from 2030. at the latest he is determined and not alone. the farmer's, one of several plaintiffs being supported by greenpeace, and a well known environmental lawyer folks wagon rejects the claim. it told the w, it is the task of the democratically elected legislature to shape climate

protection with its far reaching effects. disputes in civil courts through lawsuits against individual companies singled out for this purpose, on the other hand, are not the place or the means to do justice to this responsible task. globally, an increasing number of similar cases are being launched like in the netherlands, where comparable case was filed against shell and had success with the judge ordering the oil giant to drastically cut its carbon emissions. this motivates, out of comma he let the course of the last great hope for me is the legal way, not in after ignoring the warnings of the intergovernmental panel on climate change, or you're ignoring the warnings of the young generations to, to, to the streets. and there hundreds of thousands, 3 years ago, and the warnings of tens of thousands of scientists. i don't know what else you can ignore, but you can't ignore court rulings. i guess. come on board michigan with a law suit. the 61 year old hopes to set a legal precedent in germany and,

and turn do his bit for the climate. and so for me, in the business team, harry of berlin, for more from us, dear love, you can always head over to our website at c to b dot com slash business. we are also on the daily news use your channel, and on facebook as t w dot business till next time, tell you we can take one, making the headlines and what's behind van d. w. news africa. they show that the issues in the continent. life is slowly getting back to normally well in the streets to give you in the report on the inside. our cars funds is on the ground reporting from across the continent and all the trends doesn't matter to you. next on d, w and charlie and

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with we are your is actually on fire made for mines. this is dina. i've been years africa on the program today. one of the wealthiest terrorist groups on the continent. the u. s. t announces a fresh efforts to flash out asha bob from somalia. after years of insurgency, the group controls large part of the country. we have a report on how it's funding. it's tara and africa's oldest president is seen in public for the 1st time in months. fielding speculation about his health for 40 years. poor beer has ruled cannon wound with a heavy hat. could he.