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tv   Business - News  Deutsche Welle  July 7, 2022 5:15am-5:31am CEST

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top half a 1000000. that's more than double the number for euro 2017. beth needs scored the 1st half over england. who are e favorites? just before we go, a quick recap of our top story at this hour. british prime minister boris johnson is to find growing clamor for him to stand down over a series of scandals. dozens of his ministers and senior aides have quit over the last 2 days. etchings update if our state hearing for the business had lines coming up next. i'm clay richardson in berlin for me in the team. excellent watching. ah, ah, ah.
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ah, them to step up and say the true blue her women in asia season to this week. ah, ah, our natural gas and nuclear energy, sustainable european union, lawmakers have decided that yes they are. but that vote faces serious push back.
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also on the show demand for workers in the us remain strong. despite recession, fears or wall street correspondent tells us why. this is the w business. i'm janelle dumas on. welcome european lawmakers have voted to consider natural gas and nuclear energy as climate friendly sources. that means investment for a new nuclear power plants or new gas fired power plants can be labeled cream. the new rules are meant to help raise private financing to help the european union meet its 2050 climate goal of gnats, 0 greenhouse gas emissions. but the issue has divided yukon trees. germany for one was strongly against the plants. but unless a qualified majority of each member states decide to reject them, these new rules automatically apply from next year. it's a move environmental. it's have opposed for months. they're particularly concerned
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about the classification of nuclear power as sustainable. that's due to the radioactive waste. it generates critics in parliament say it's a political decision, not a science based one. and they are calling the decision green washing. yes, every child to day knows that nuclear power is dangerous for people and the environment. nuclear waste will pollute future generations for hundreds if not thousands of years in terms of carbon dioxide emissions. nuclear power plants do similarly well to solar. but gas fired power plants have much higher c o 2 emissions. nevertheless, they too are now seen as sustainable by the e. u. it's a decision with real consequences as green financial funds can now include nuclear and gas companies, handing them investment they can use for the construction of new power plants.
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detail they use that xander was following that debate in strasburg. he says the result was closer than some had expected. in the end, the parliament was just about 70 will shy of blocking. the commissions proposal on the e. u. taxonomy effectively putting a green label on nuclear energy and gas. now the eel taxonomy is supposed to serve as a classification tool and help investors determine and identify green areas of investment in this case and energy. and supposed to help the european union and its member states become climate neutral by 2050. now, including nuclear and gas. in this youth, exxon was heavily criticized, not just by environmental groups, but also by lawmakers across member states and across party lines. many have said that nuclear and gas cannot be deemed sustainable and cannot receive this free label, so to speak. but then others said that in that light of soaring energy,
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pressures across the continent, leg of the situation we are in right now. these energies are necessary as traditional tools and should receive the same label now on gas and other. she became apparent since the proposal was 1st publicized at the end of last year. that is that it's heavily reliance on russian sheep available gas. some critics say that this taxonomy was proposed in a different geo political reality, and it is no longer feasible today that a spider criticism this taxonomy will come into power automatically. at the beginning of 2023 alleged member states object of the upcoming which the w's max xander there. meanwhile, nuclear power has been given a boost in south korea, which now plans to increase the portion of nuclear in its energy mixed from 27 to 30 percent by 2030. the country's new president unions, so keel made expanding
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a nuclear power. a key pledge of his campaign fowling to boost investment and revived south korea status as a key exporter of safe reactors. interest in nuclear energy is growing across asia, in particular in south east asia, where demand for electricity is said to triple by 2050. countries there have growing populations and they're aiming to further industrialize their economies. dw susan hand told us why they're seeing nuclear as an answer. curly south, east asian countries do not have active nuclear reactors. but the situation may change. since the end of may, indonesia, vietnam and the philippines have expressed their desire to have nuclear power to meet the growing energy demand. and get rid of the depends on fossil energy. se asia imports 40 percent of his energy and curly relies on the middle east to for
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oil and gas with australia as the main source of coal in ports. se asia, energy's 80 percent fossil energy. the remaining renewable energy sources are mainly hydro power. in this context, atomic energy becomes very attractive now to some of the other global business stories making news. the french government is to fully nationalize the energy company e d, f. that's as the highly indebted firm struggles to stay afloat due to a series of costly nuclear reactor shut down. the french de currently already owns 84 percent of e d f, which is one of the world's biggest electricity producers. the norwegian government has intervened to end a strike by offshore oil and gas workers by imposing a settlement with energy companies. the decision comes amid concerns that the strike could up and the countries gas and oil output to the you were sitting, europe's ongoing energy crisis. german industrial orders
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rose by point one percent in may, leading analysts expectations of a sharp downturn. despite the good news of the economy, ministry still warned of strong headwinds in the near future. due to the ongoing war in ukraine and the threat of a disruption in russian gas deliveries. u. s. job openings remain high and may according to fresh data released today. while vacancies did drop, they were still at over 11000000 in may. that points to the possibility that the federal reserve will keep a pushing interest rates higher. the fed is hoping to time down on demand for labor in order to bring inflation down u. s. inflation is currently close to 9 percent for more, i'm joined by your financial correspondent in new york. teddy austro study. when
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you think of a recession, you'd think that workers would be running towards jobs. why has the labor market remain so tight? yeah, janelle, well, despite the warning signs of a recessionary economy, we do still have an extraordinarily tight labor market as for why? well, i think this story is like a lot of stories these days. it's about the pandemic. think of the labor sectors that are the tightest right now. they are the same sectors that were hit incredibly hard in 2020. we're talking about services, accommodation, health care and education. these are the essential workers, the frontline workers who had a really tough time. they died, they got sick, their families got sick. and what we're seeing is that workers resign. worker said, well, we're weighing the risks and we take our lives over a jobs and the companies that were able to entice their workers back while they entice them with higher wages. that's why we've seen such high wage growth. so does that mean that the high demand for worker is necessarily translates to favourable
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condition for those workers? well, workers actually are having a tougher time than one would expect with such a strong labor market. actually, unfortunately, inflation is eating at those wage gains. i was just talking about workers are still suffering under high gas prices under high food prices under high prices across the economy, and we're seeing them actually a fight back. this is a sign of their discontent. we see a resurgence in the american labor movement organizing it. companies like amazon as well as starbucks and apple. so workers aren't having the best time at the moment. but briefly study, there are some signs that demand well cool. yes . so we are seeing some sign job openings, they're down from their high of 11900000 to quit and re, well that's actually going down to lay off. we're gonna have to wait for new
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numbers v as the tech sector, just got hit. we're seeing layoffs, we just got hit by the federal reserves interest rate hikes, but whether or not the cooling of the labor sector will tamp down on inflation. and that's one question. but certainly, if the fed continues to increase of interest rates, well, we're definitely going to see a cooling labor market. teddy australia, thank you very much. the last years i've seen dozens of vineyards in the south of france bought up by chinese investors. we visit one couple was taken the lead from advising wine investors from china to running their own vineyard. this renier in columbia region into sato, france, has the chinese touch damping. go and shoot. gow left china for france 2 to 6 years ago. to build a new life now they worked together in shuttle or busted, producing wine with her, but it wasn't always easy for them. i said i lived in this region,
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it was difficult for them to be accepted. he said that madame gar proved to be simple, honest od working, she proved she could run away, dimension and do some good at all. if you starting out as advisors for chinese firms investing in french vineyards, the girl couples started their own 7 years ago. they wine is now sold in tub. clos, restaurants. guess if i develop the commercial part of the business, that's my job. i put it this way. now the influence of cold beer wine has reached everywhere, bought in france and the whole world. oh, also was he bianco? solomon bounce now. bingo has no plans to retire. she's committed. the next servant, the girls are working to make shuttle or busted a fully organic winery. and finally, it's one of the symbols of european unity and it's for sale. the sculpture of the
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euro symbol has stood near the former headquarters of the european central bank in frankfort since 2001 that was before the euro. coins and bank notes for even issued . but the bank has had to pay thousands of euros for maintenance like repairing vandalism. and now the foundation that owns it says it's had enough. it set up a website for anyone interested in taking home the 14 metre high, 50 ton symbol. maybe get some help. that's our show. thank you for watching. with conflict zone with barraged banner g. russia claims it has captured the nuanced region in ukraine's east ukraine. losing this war, doug walker is
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a former us ambassador to mater, and he believes the worse should be doing more to support ukraine, but good growth in the western alliance dealer in long term support for ukraine. conflict zone. next, on d, w. m b o nor da da vinci's, mysterious masterpiece is perhaps the greatest leonardo masterpiece in the collection of the louvre. and no, it is not them. on elisa, it is the virgin of the rocks. was there another symbolic meaning to this beautiful painting that perhaps we just don't understand? the search for answers. ah lou. sh. please
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listen carefully and don't know how those 2 things you need to be a girl. ah, feel the magic discovery of the world around you. subscribe to d w documentary on youtube. russia claims it has captured the nuanced region in ukraine's east. it is also stepping up attacks against civilian centers like residential buildings and shopping malls, ukraine's civilian casualties and troop losses. i'm mounting as well is.

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