degrees celsius in many cities, now the above average temperatures are moving for france. the peak of the heat wipe is expected to hit several european countries this weekend. experts say unusually hot temperatures will grow more common. as the fritz from climate change become more apparent, that's all the news for now. stay with us. christy plots, and we'll be with you in a moment with the business news and all the details of the federal versus latest interest right. high in 3 decades, stay with us, and i'll be back with more news headlines at the top of the a. c. w's crime fighters are back africa, most successful radio drama series continues, but all episodes are available online. and of course you can share, and as it goes on d, w, africa's facebook page and other social media platforms,

crime fighters, tune in. now what's making that headline is and what's behind them? dw news africa. they show that the issues have been the continent. life is slowly getting back to normally where on the streets to give you enough reports on the inside correspondence with on the ground reporting from across the continent and all the trend stuff. the mazda u. t. w is africa every friday on dw. ah, the fed goes head to head with inflation. the u. s. central bank announces its largest interest rate hike in nearly 30 years after consumer price has reached a 40 year high in the us, will get more from our market expert. also on the show, russia gas prom blames repair delays for lower gas deliveries to germany. let

berlin isn't buying it. we ask an energy expert, what the impact will be, and work less produce more can be done. british companies test drive a 4 day work week. i'm christy platt, and this is d. w. a business. the u. s. federal reserve has approved its largest single interest rate hike it almost 30 years. it's a signal that the central bank is serious about raining in the countries stubbornly high inflation. the 3 quarters of a percentage point increases the feds, the largest since 199094 and higher than the half point hike into that. in recent weeks, economists investors and investors began anticipating a more aggressive response. after the latest data showed us, consumer prices grew at their highest pace in 40 years and may with cost for food, gas, and housing all searching. well, here's how it fed chairman jerome pow, opened his remarks today. we at the fed understand the hardship that high inflation

is causing we're strongly committed to bringing inflation back down and we're moving expeditiously to do so. we have both the tools we need and the resolve that it will take to restore price stability on behalf of american families and businesses. well, for bar, let's bring in our correspondent johns corta at the new york stock exchange. hi there. yes. so the fed, they ultimately went for a bigger hike than they had originally indicated. put this into context for us. why did they do this? yeah, actually, christine inflation is a huge problem at the moment and your own power knowledge that the u. s. economy will grow so lower than originally anticipated, but at the same is true with inflation. i mean the other way around so that inflation is much higher than the federal reserve would like to see. and therefore, we're not just seeing the 75 basis point hike on a wednesday,

but we will probably see another 75 basis points at the next meeting in july that that leads to watch your own power into that. and he wants to ask if he believes that a soft landing is still possible, meaning increase interest rate get in place and down and don't kill economic growth at the same point. and he believes that it's possible. but if that's going to be to remain the b c. now young here they're on the floor, it's a stock exchange, you know, better than anybody here. what have with markets earlier this week, we saw them tanking on the news about inflation also about hence, but we're going to see the higher rate hikes. so how did they actually react today in response to the news? christy i was your on the floor when the decision got to publish them and it was pretty wild to swing that we saw we had to mark it up before before at 2 pm, a local time. then when we saw the youth across the wires, the dow jones industrial average briefly dropped, then we saw

a blue chipset more than 600 point. at the end of the session, the market was up a good $300.00 points, like a good one percent. what is interesting is that specially interest rate, tensile stocks, technology stocks. they did the best here on wednesday, the nascar composite being up by about 2 and a half percent, but i've seen it so often don't give too much on the immediate market reacts and traders often need one to leave over such a big decision. so actually the training session on thursday might be more selling than what we've seen here on wednesday, but sure. wild swings them here on wall street after this historical right decision . as you mentioned, the biggest increase since 1994. well, yeah, we'll definitely be checking in with you on what happens tomorrow. thank you. well, the european central bank also spoke out on interest rates on wednesday, the bank promised to create an unspecified mechanism to protect the euro area.

countries with higher debt from the market turbulence, which is anticipated as barring becomes more expensive in the coming months. my colleague, emily lesnar, has more the e. c. b is especially concerned about the sell off of italian and spanish government debt. that's happened since the bank decided to raise interest rates in july. it's 1st rate hike and 11 years. it's now promising a new program to bring down borrowing cost for those countries. bank officials say they can also make further dep purchases if necessary. the c, b is walking a tightrope at tamping down rising inflation while avoiding another debt crisis. like the one that nearly took down the euro currency a decade ago. some are saying the e c, b is not being aggressive enough other say it's going to far. that's one of the difficulties of having a single currency and one central bank for 19 different countries now to some of the other global business stories making this brushes war in ukraine, coupled with sharply rising energy prices is curbing the economic recovery in

germany. the fo institute has cut it's 2022 forecasts for german growth to 2.5 percent. that's down from 3 point one percent predicted in march. even expects commodity prices and supply bottlenecks to gradually ease. in the 2nd half of the year, brazil's electricity company, electro bras, has gone private in the 2nd biggest stock offering. worldwide this year, brazilian president j bilson are rang the bell at the sal palo stock exchange to mark the start of trading. the brazilian government stake and electro breast stands at 45 percent and that's down from 72 percent. before the launch pair of newly filed lawsuits accuses danish shipping firm maersk line limited of failing to protect employees from sexual assault in harassment. the 1st was filed by a former cadet who spoke anonymously of her experience last year. the 2nd was filed by a former in turn. a top german official said,

the recent reduction in natural gas deliveries from russia is likely political in nature. kind of miss minister, robert ha, back said the russian claim of pipeline maintenance was a pretext. he said moscow wants to further drive up fuel prices. russians state on supplier gas prom reduced flows to the north stream, one pipeline to germany by 60 percent on wednesday, citing an overhaul of a compressor turbine. well, earlier we spoke with energy analyst, teary bruce, and asked him if there's any merit to german concerns where i do expect that in the grand scheme that we, i think since the last year i eat the wip invitation of gas, we have to be prepared as a speech seeing a gas from stopping se spot saved back in 2021. not repeating the gym and storage. at the end of mid the 2021. we've seen the stop up throws in for 4 different, 5 different countries. and this is another thing that the credit is throwing at us

. rushes invasion of ukraine led to concern about oil and gas supplies and worsened . soaring energy prices, trickling down to customers, filling up at the pump. high gasoline prices have hit people across europe and in the united states, prompting governments to pass measures to try to ease the pain the average cost of filling a 55 liter family car has now gone well above 100 pounds. at the end of last week, petrol, at some u. k, pump soared to the psychologically significant price of $2.00 pounds per liter. the automobile association said the price hikes have been a huge shock for drivers and urge the government to intervene. it makes it sick with believe that it was looking at why i was spending every week and i'm not gonna foreign holidays. it was on many go and i feel like we'd already been doing club about the british government in march, announced a fuel tax cut of 5 pence per liter to help drivers after record jumps and pump

prices. but many motorists argue that the tax cut reduce the cost of filling up by only a tiny amount prime minister boars. johnson's government is under pressure to do more to help britain struggling with fuel and food prices. amid the severe cost of living crisis. what i want to see is those cuts in taxation not just swallowed up in one gulp without touching the gullet of the of the, of the fuel companies. i want to see, i want to see if those are those, those cuts having an impact on the pumps. however, there are growing concerns that fuel retailers are not passing on the tax cuts to customers. and it's people on low incomes were feeling the pinch, most of sticking with the okay. it sounds all right, working one last day for the same salary and producing the same amount or even more . this is the challenge that 70 british companies will take on over the next 6 months. a pilot program wants to identify the pros and cons of

a 4 day work week. after the pandemic showed that new ways of working are possible . lewis bloomfield is cleaning kegs of beer at the pressure dropped bery in north london. he was eagerly looking forward to june to only work for instead of 5 days a week. but he also sees some challenges, remarked to just compact our workload into smaller timeframes, which might be low, harper. i honestly can't say that i was about the royal society of biology. another participant hopes is shorter working week and help retain employees at a time when you k. businesses are confronted with severe staff shortages and job vacancies. hitting a record 1300000 and so on. motivation really has been driven by what happened over the last 2 years with the pandemic where i think the role so to polish along with many, many, no, oh, oh, glaciers of religion. are you from work or differently of unless encouraged, it's

a thing to look at ways in which we can be more flexible. the pilot program shouted, as the world's biggest so far includes $3300.00 workers from 70. you pay companies . it aims to help companies shorten their working hours without cutting salaries or sacrificing revenue. similar trials of also taken place in spain. iceland, the united states and canada, australia, and new zealand are scheduled to start theirs in august. you know, the, that the real question is will the productivity increase of losing a day will that boost the output that you've lost on that day? and i think that's probably the key part of this trial. if it does brilliant, if it doesn't, then we're going to have a really tough time sustaining a 4 day week without also sacrificing some growth in the economy. i think that's probably the, the crux of the martha lewis bloom's field, at least already plans to use his extra time to get involved and charity work.

start a long overdue course and particle physics and spend more time with his family. here is a reminder of the top is no story we are following for you this. our u. s. federal reserve has approved its largest single interest rate hike in almost 30 years as a takes a more aggressive path to raining and the countries stubbornly high inflation fed officials agreed to a key rate hike of 3 quarters of a percentage point. that's our show for more you can check us out a d, w dot com backslash business for me and the whole team. thank you for watching with oh, they have to get house out of the hotels on the ball game in black sea coast. ukrainian refugees of la keating, their rooms for the tourists. but where can they do from gary is considered

a tourist. you country still and out of some the guaranteed for how much longer. i focus on europe next on d. w into the conflict zone with sebastian. as rushing forward, his advancing ease of ukraine here is warding allies good massively out gum. my here as we come home is rabbit sikorsky with both barra. i'm with a member of the european paulin. ethan flows prepping for a quick see spark a wrong with 60 minute do. with europe, we love diversity,

and anything unusual. no mountain is too high. no road is too long. in search of the extraordinary we are the specialists of lifestyle, europe, euro macs on d, w. enjoying the views and come take a look at this tv highlights every week in your inbox, subscribe now. with hello and welcome to focus on europe where we begin by taking a closer look at the refugee crisis, sparked by the russian invade.