they, the government, under johnston's leadership, is no longer competent or acting in the national interest. in russia is stepping up . it's a tax on ukraine's eastern tonight's region, after seizing all neighboring new hampshire. the city of love, yonce came under relentless shelling on tuesday to nets because governor is urging the remaining 350000 residence to flee a series update at this hour. stay tuned for the business headline that's coming up next. ah ah, every journey is full of surprises. we've gone all out to give you some tips with. i'm in your northern

most count, please. ah free time in the long but still very much alive that when you travel you'll go to the central hospital in germany, europe. i recognized where exactly it was fun. i learned a lot. our culture history. all their d. w. travel extremely worth a visit. ah, ah, germany to rescue a gas giant, the government approves plans. so help prop up unit berg. the country's largest buyer of russian gas and prices are rising fast across europe. will take you to the country where they're rising,

the fastest. this is the w business. i'm janelle dumas on welcome. germany's largest gas supplier is on the brink of ruin. as a result of russia's war in ukraine unit for, as it's known, is struggling, threatening to bring down the country's entire gas system. currently, the group is losing an estimated a $900000000.00 euros a month. uniform is forced to buy at high rates in the current climate, but is required to sell the gas cheaply because of long term contracts. if you end up or fails, municipal utility supplied by una per would no longer receive gas. millions of customers would face a cold winter. companies would face shutting down production. the company is now hoping for help from the state. the german government is planning a fund to support the energy industry, amounting to 9000000000 euros gas suppliers who have payment problems will receive

aid money in return for providing the government shares in their company. as bankruptcy looms for germany's largest energy supply, a unit per berlin says it's ready to take drastic steps to protect the rest of the economy. your damaged. so we will not allow this to have a system wide impact on the german and europe and market. because it will have a domino effect with one companies, bankruptcy threatening other sectors than even the security of supply as a whole order. godly performs gardens cuz i'm the 1st route. and there's another important reason to save unit per. the company is building germany's 1st liquefied natural gas terminal on the north sea coast. the building permit has just been issued. the terminal should be ready in record time, early next year. this all comes ahead of a week of uncertainty for germany in the next few days, the all important nod stream one pipeline is due to undergo maintenance. that means

russia will cut off the gas flow for 10 days, and it's an open question whether it will ever be turned on. again, my colleague, emily gardena, joins us now. welcome, emily, emily. let's start with a bailout for who nipper. how would that look like? so the german government is looking at a set of measures including loans, taking a stake in the company, and also passing on some of the extra costs on to consumers and other blueprints. all of this is the loved hands of a lot during the pandemic. so at the time, the german government provide loans to lufthansa, but also took a 20 percent stake in the company. so what we're likely going to see now in the next coming days is on friday. the down government will provide a bill that is going to set the legal framework for all of this. and then as soon as that is, has gone through parliament, it can actually act immediately. and am we're going, we're expecting

a similar scenario to lufthansa. now we mentioned nord stream one earlier, what's germany going to do if after nord stream, one scheduled maintenance, moscow actually doesn't switch the taps back on so the german government has actually been preparing for this scenario for a while. so german economy minister about how, but he's also the energy minister. he has been traveling to different countries to find other suppliers of gas to be able to substitute russian gas on which germany is heavily dependent on at the same time. and g terminals are being built across the country, but all of this is going to take time. and in the short term, that leaves germany in somewhat of a pickle and you know, german, german industry is very heavily dependent on, on russian gas. and if there's not enough, then they will be unable to continue their production. and at the same time,

germany also delivers gas to other european countries. so this will also have a ripple effect on to other countries. the german government, you know, it's only been in office for about 7 months and when it set out, it said that it wanted to transition from fossil fuels to renewable energy use. but it certainly didn't expect that this would have to happen within weeks. and it's, it's really leaving it in a very vulnerable spot and the atmosphere that has being that has been carried from the government into the fire to use that. you know, germans will have to tighten the belts and it is in effect, co sort of paying the price for decades long policy decades on policy that relied on russian gas. thank you very much. emily guardian, there for us time now to check in with our financial correspondent in new york city, austro teddy. we've been talking about the energy supply crunch,

but oil prices are actually taking a tumble to day. what's going on? recession, recession, recession, that is the fearful phrase that is bouncing around the minds of oil traders today, causing the price of oil to go down by about 10 percent. that's brent crude and west texas intermediate. the ladder of which is now trading under a $100.00. now keep in mind, just a month ago, they charging a $100.00 per barrel. so it's quite a significant drop we're seeing now is there is this steady drumbeat appears that we're going into a recession. this is by financial actors the world over. now if there's a recession, that means that demand will decrease, the demand for oil decreases the downward pressure on the price of oil. this is of course, contesting with the tight supply we've seen from the war and ukraine, as well as the supply chain disruptions from the pandemic. it seems that oil

traders today are saying, look, we're going to have a recession and their pricing it in or a session recession, recession hard to think of anything else, but are we expecting this price decline to continue teddy? while there is a lot of bearish attitude, city group says that if we go into recession, then we can expect the price of oil to drop to $65.00. that's at the end of the year. here in $22036.00 about $45.00. they say there are some balls in the arena like goldman sachs, but the end of the day it comes down to the forces of supply and demand on the supply side. it's not looking too good. the russians are constricting gas pipelines to europe, wrecking havoc on the economy. and in norway we're seeing strikes disrupting the supply as well as in libya and opec plus can't seem to meet its quotas for oil production. so it's not looking great there on the demand side,

while the federal reserve is hiking interest rates, people are scared that that's gonna hit demand. we're already seeing consumer demand and industrial orders start to slow down a bit, but we are having quite a strong labor market here in the united states, which is making economists think that we might not be in for recession for the next year or so. so oil prices there volatile during these volatile times tele austro. thank you very much. now to some of the other global business stories making news norwegian, offshore. oil and gas workers went on strike over pay on tuesday. the countries, oil and gas association said the strike has already closed 3 fields and could cut nor waste gas exports by more than half by saturday. scandinavian airlines says it has filed for bankruptcy proceedings in the united states as

a part of restructuring plants. the decision came one day after s a s pilots walked out on strike, leaving many passengers surrounded an airport. the european union will set up a platform to coordinate the rebuilding of ukraine after its war with russia. you commission president ursula fonder lion said the e u has mobilized 6200000000 euros to help ukraine since the start of the war and quote, more will come to estonia now, which is by many measures of the wealthiest among its baltic peers. but currently it has the highest inflation in the euro zone. our correspondent killian buyer reports that a para, with a warm greeting under linda invites her next batch of guests into the museum where she's working now to get a call to honda. the 78 year old former artist speaks for languages and has a deep interest in history. may be on that on so much,

but she's not here by choice. rising living costs have driven her to pick up a summer job posted e car. he not, every price increases scary in a sense. i have tried to live frugally so as not to give myself even greater fears than the price increases already create. so this job is very necessary. the flexor near to darrell gave me none regarding prices have been on the rise for months across the u. the warn ukraine isn't helping but it's estonia that ranks above the rest. inflation rocketed to over 20 percent in may 2022. the countries building industry has been especially hard hit higher energy costs and the effects of war sanctions have made building materials grow more expensive on these workers are constructing a 150000000 euro building complex in talent center. it's price has risen

significantly if you are building apartment said that it means that every apartment will be 20 percent more expensive for anybody who wants to purchase it. estonia central bank expects inflation to begin slowing in 2023, but says price is for consumers will remain high for years to come. at the moment it's mostly i have poor people who suffer more because of these kind of costs and take up a larger part from there and monthly expenditures. people like on a linda. she doesn't profit from rising wages because she's on a government pension. this means her disposable income remains unchanged while the price of living climes she's had to adjust. my is how can i can buy expensive food?

i need to look at the price, especially better. the price differences can be quite large. but i don't want porridge without butter, my weight, my, the harpoon and a linda says she's trying to eat less and use as little electricity as possible. she hopes that prices will go down some day. in the meantime, she's left to tighten her belt. and as her shell, thanks for watching, awe, death threats, illegal dumping, destruction of livelihood. an indigenous tribe in brazil, fighting for the right to exist. the land of cody bona is legally protected. but the state does little to curtail illegal loggers and trespassers. now the carry

puna are suing the government, global 3000. next on d, w. a level the tylen times of crisis, bread and gasoline. high prices, full fuel, and staple foods are a button on the world's population, hunger and poverty threatened to disrupt society. and how can we stop this chaos and what options do politicians and business leaders have made in germany? in 60 minutes on d, w. o a little nar, do da vinci's mysterious masterpiece. ah,

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