his claim to the territory sofa talks have failed to find a way forward, dismissed costa, it is inconceivable. the 2 countries that did not meet should he recognise each other, will become members of the e. u. or else both sides. once again, for a clear commitment to this dialogue, according to shelter, they would then be able to join the e u something. the western balkan states have been waiting 19 years full. you're watching the w news, you w business news as of next with christie plants and have a good weekend. everybody welcome to the dark side where intelligence agencies are pulling the strings. there was a before 911 and an aftermath 11. he says, after $911.00, the clubs came off. where organized crime rules

were conglomerates make their own laws? work through us, vague. it doesn't matter. the only criteria is worked. we'll hook people. we shed light on the opaque worlds who is behind the benefits. and why are they a threat to us all opaque worlds this week on d, w? with? ah, the only way is up us inflation rises again. the cost of gasoline, food, and more, jumped in may forwarding economist expectations and pushing inflation to a for decade high. also on the show container ship congestion in the north sea,

a chunk of the world's cargo capacity is stuck at ports in germany, the netherlands, and belgium, and plans to miner uranium in brazil have farmers worried about their crops and their health. i'm christy flats, and this is the w business. u. s. president joe biden says washington must take action. that's after prices surged at the fastest pace in more than 4 decades. the latest government report shows, year on your inflation was what is at 88.6 percent in may. sharp rises in gasoline, housing, airline fairs, and vehicles drove up the consumer price index ramp. inflation is putting pressures on many families who have to pay much more for food, fuel and rent. economists say the war and ukraine and supply chain disruptions have contributed to rising prices. the u. s. federal reserve is expected to raise key interest rates next week, and again in july, in an effort to slow inflation on. the growing fears over inflation has given

financial markets their worst week since january both in the us and europe. stocks fell sharply with today's inflation data out of the u. s. adding to that pressure. well, for more, let's go to our financial correspondent, teddy austro new york to break this down. hi there, teddy. so investors and economists, they had expected inflation to start using somewhat last month. what did they get wrong? yes, chris, even the us treasury secretary janet yellen had to admit that they got this one wrong. but we're not actually looking at transitory inflation as for what they got wrong. well, we are looking through some pretty uncertain times. there's the russian war and ukraine, causing a food and energy crisis. there are supply chain disruptions emanating large re, largely from china, with their locked downs due to coven, and we are looking at a pretty unusual, unusually tight labor market. so perhaps you can't blame economists,

analysts and investors for getting this one wrong through such an uncertain period in the global economy. okay, well teddy inflation, it's heading upwards towards 9 percent. at this point, you're there in the u. s. hello. how are americans coping with these prices? inflation is hitting americans really hard. i mean, we're looking at gas price records almost every day. now i believe it's 12 percent on the year increase in grocery prices. it's. it's really just awful for americans . interestingly though, consumer spending is still pretty strong, but we are looking at some changes. for instance, dollar stores are actually having a field day right now, which maybe suggests that consumers are changing their spending to cheaper alternatives. also, credit card debt it's approaching and all time high. what does that mean? americans perhaps are coping with high inflation by putting off the pain of these

high prices for a later date. teddy auster with that great analysis in new york. thank you so much . well now to some of the other global business stories making, there's apple chief executive tim cook has sent a letter to a group of us law makers urging them to pass the federal privacy legislation. as soon as possible, the bill would give consumers protections and rights regarding the use of their data online. congress is currently considering several versions of privacy legislation. tesla has canceled 3 online recruitment events for china scheduled this month. this comes after ceo ellen musk threatened job cuts of the electric car maker saying it was overstaffed in some areas. the events were supposed to bring a new workers in sales and research. i'll germany's keel institute for the world economy says almost 2 percent of global freight capacity is currently stuck at

ports in germany, the netherlands and belgium and cannot be loaded or unloaded a german dock. workers strike has ratcheted up pressure there as well. this is forced huge container ships to drop anchor and wait outside key ports like hamburg . it's a different kind of traffic jam. just off the german coast, cargo ships wait to duck in hamburg around $150000.00 containers. just sit and wait on the north sea and around the world, 11 percent of global shipping floats at anchor consumers everywhere. our feeling the effects. a moment that this means that shelves in supermarkets and hardware stores are empty earlier than thomas vaughn. of ich, runs a large logistics company in hamburg. at the moment he asked to improvise a lot. his warehouses keep filling up, but there are no ships to take the cargo on board. when, when it's full, it's full just like a barrel,

and the last drop then causes it to overflow. and that's how it is here. a german duck worker strike is only adding to the chaos. ships are not getting unloaded. the workers are demanding a pay raise for their non stop work during the pandemic. you know, i think the people here in the port gave it, they're all doing locked down, and they're still pushing themselves to the breaking point to ensure that supply chains are maintained. for thomas vaughn, in which the strike still means more unfulfilled deliveries that leads to gaps in the supply chain and shortages for consumers. and the really big shipping volumes from china are still on their way. while earlier we spoke to vincent demo from germany as q institute for the world economy and asked him if there is any way to put a price tag on this traffic jam. is bir difficult to put a plastic on this particular traffic jam, just because it's very young. i'm bus traffic jams play the one of me the last 2

years and they have the last 2 delivery delays. all good to have managed hire transportation costs. transportation costs have risen dramatically in asia, europe and the delivery delays have let in 2021 to $2.00 percentage on lower economic growth and we would have expected. so the delivery delays from traffic jams actually led to the rebound, germany on me to be a little bit lower and we actually would have expected well, for decades, brazil left us largest source of uranium untapped over fears of endangering the water supply than the war broke out in ukraine and authorities suddenly gave the greenlight to mind $2500.00 tons of uranium annually. that's for use of nuclear energy plants. residents are worried, but mining is expected to start in 2 years. and tony and joe, selina grow fruit for a living. they both belong to a co operative

a family businesses and they swear by organic farming. here in brazil, hinterland, your washer. you. i think that without family farmers there would be no brazil, as we know it. farmers have settled on and built on this land as you, as you wish to know where we can go to for many of the couple and more than 200 local farmers grow dozens of fruit varieties for juice that is sold to schools. but they're worried about plans to miner uranium nearby while cavs, i made all the people in this region will suffer if there is a leak or an accident of this uranium mine are water sources would be contaminated with radioactivity. noisy thought jesus of the get that of himself at that point boldly stud, luciana, for a mountain range with brazil's largest uranium deposits is visible from their plantation. a state run company has now unexpectedly received permission to mine

uranium. it could soon look like this. if thousands of tons of uranium were mind each year, the ukraine war may increase demand for brazilian uranium in part to keep europe's nuclear plants running. just alina thinks, uranium mining is a health risk brian, this mine will be lucrative for its operators and customers. but for us, on the other hand, not at all because of the waste and pollution, the mining company rejects this criticism, f o, it will monitor everything. zach worker's health, the river water, the soil, and the fish stocks. we will rigorously apply the norms of the national nuclear authorities. last eagles, malcolm sola knology. and if you scientists, josie cono's, our roseville has his doubts. he sees risks and the way uranium has been mined in brazil, north name you wish. there's

a real danger of accidents due to improper use of the uranium plant. cynthia, we've already had such cases and brazil because there is seldom regress controls rule. not opt you skaggs. awesome. we used to sit on the my school could ab joselyn, as co operative has been a success so far, but her juice production could soon fall victim to uranium mining. it was a, yeah, that would on you, who many will probably buy uranium from here because of the worn ukraine. and they have no clue as to the negative consequences that this will have for a farming noise gaggle daughter for media vital mas elissa the repercussions of the ukraine. more can even be felt here in brazil's idella hinterland. and finally, the golden arches are disappearing, and russia, a local fast food chain is set to begin opening at some of mcdonald's former restaurants. on sunday, it comes after the u. s. chain announced it would sell its restaurants to

a local licensee. the rebranded company has a logo with 2 french fries and a hamburger patty reminiscent of an em. but without revealing the name of the new chain, mcdonalds opened its 1st russian location in 990, amid thawing cold war tensions. but it's now one of many western companies exiting the market after russia's invasion of ukraine. and a reminder of the top business story we're following for you this. our us president joe biden says, washington must take action after consumer prices surged at the fastest pace and more than 4 decades. the latest government report shows a year on year inflation hit 8.6 percent in may. the growing fears over inflation has given financial markets their worst week since january both in the us and europe. stocks fell sharply with today's inflation date out of the u. s. adding pressure to that in almost 2 percent of global freight capacity is currently stuck at ports in germany, the netherlands in belgium, and cannot be loaded or unloaded

a german dock. workers strike has ratcheted up the pressure. well, that's our show for more. you can check us out at d, w dot com backslash business, and the do dw news youtube channel. you can also find us on facebook from me and the whole business team here in berlin. thank you so much for watching our show. have a great weekend with making the headlines and what's behind them. dw news africa, the show that typically issues shaping the continent. life is slowly getting back to normally where the streams to give you end up reports on the inside of our

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