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tv   Business - News  Deutsche Welle  August 4, 2022 5:15am-5:31am CEST

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continue to grow. well, he is a reminder of our top story. the sour china is stepping up, its military activity around taiwan, those tensions in the region rise us. how speaker nancy pelosi ended a controversial visit to the island pledging america's iron clad commitments to defending its democracy. you're watching the w news live from berlin. i'm really. mm hm. it's coming up next is over like his business with my colleague robots season. i nico he's in germany to learn jermel lewis, pinnacle. why not learn with him. d w e learning course, eco's fake. oh, by going to have it ended go listening place of longing, the mediterranean sea,
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its waters connect people of many cultures. seen it almost rock and to far dual career drift along with exploring modern lifestyles and mediterranean where has history left its traces reading legal hearing their dreams mediterranean journey intended those sorts. august 14th on d. w. ah, there was a brief visit but with potentially long lasting consequences. nancy philosophies, ty, one trip, sees china respond by placing a battle in ports of thousands of tie when he's fi products, but assess the potential impact jane the masters of maim stalks. but now little
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trading platform, robin hood says it's slashing its staff numbers as crypto continues to crash. and the war in ukraine has driven millions of civilians out of the country. but here how working online has allowed many of them to keep their jobs. this is data we have business, our robots in berlin. welcome to the program. and we begin in asia where the fall out from us. how speaker nancy pelosi visit to taiwan continues. she may have left the island already, but tie one's gigantic neighbour. china's anger hasn't subsided. if he is tiwana as a breakaway province in store for lucy's visit as an infringement of its sovereignty in response, beijing has banned in ports a thousands of taiwanese goods, mostly foods, but it stopped short of targeting the government in taipei most valuable asset. it's electronics industry. nancy pelosi surprise visit to taiwan,
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threatened to throw off course washington's find balancing act, neither affirming nor denying beijing's claim to the territory. a wes and chinese stock sank on the news policies retention to visit investors worry it could inflame tensions between the 2 powers. stability in taiwan is important for global supply chains. taiwan holds 20 percent of global computer chip manufacturing capacity. it's the leader, while the likes of china, the u. s. in europe like far behind, and look what happens when we focus on the most complex and powerful chips, those under 10 nanometers taiwan is by far the most dominant. trailing far behind is the only of the country making such complex chips. south korea, the manufacturing of these chips is so complicated that the production processes are extraordinarily hard for other countries to copy. tie ones tech industry has
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helped it become rich with a g d. p per capita of over $68000.00 more than 3 times higher than china's with it's large, but mostly poor population on the wall street journal. ever but the islands, long term future under china's shadow is uncertain. beijing sees the visit as a provocation. so investors and security experts alike are alert to anything that could tip the balance in the china, taiwan rivalry. the u. s. faced retail trading platform. robin hood is cutting nearly a quarter of its staff in slashing his work force by 23 percent, blaming high inflation. and falling crypto currency marcus, it's c o. it's mets that it had built of its staffing numbers based on the assumption that the boom in return investment during the pandemic. we'll continue into 2022, which it hasn't robin hood's revenues for the last quarter. we're down 44 percent on a year ago. let's get more on this from our correspondent at the new york stock exchange
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. teddy austro teddy good. have you on as ever. i mean, why is robin hood so exposed, i suppose, the misfortunes of their crypto currency mark while rob to answer that we have to understand why robin hood experience such explosive growth in the past few years. and that's because in 2020, 2021. when a lot of people were sitting at home due to coven restrictions, and had a little money, little bit more money in their bank accounts, due to the stimulus track. well robin hood was there to take in and whole new wave of retail investors. where did the investors go? well, this is where the mean stock frenzy of last year that i'm sure a lot of people have heard about comes into play when a coordinated group of retail investors, coordinating online and places like read it, invited a ton of new retail investors into the space to invest in under performing companies such as game stock such as amc but crypto currencies of course, where
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a huge part of this, i'm sure a lot of you have heard of those coin. well, this was a ton of the trading volume on robin hood. so when we saw the crypto market fall in the broader stock market fall, well robin hood took a hit and of course saw that they over extended themselves and now they have to do these layoffs. speaking, it could take currencies, as we've just had proposed, they'll put forward by a group of bypass that a group of senators in the united states that would aim to further regulate crypto currency. can you just explain to him, why did they explain why that thing came? yes, well this bill is trying to came the wild west if you will, of crypto regulation. that is that there's very little regulation of crypto and. busy all this specific bill, which comes after a few others that have been proposed would take crypto currencies under the authority of the c, f t. c. that's the commodity futures. trading commission, regulating them as digital commodities, as opposed to securities,
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which fall under the jurisdiction of the fcc. now this comes after trillions have been wiped off of the crypto market. in the past year, bitcoin went from 60000 dollars last year to $23000.00. and there's a ton of elicit activity that go on money laundering fraud. and this bill is trying to obtain that under the s s c f t c. and lots of let us also in new york for thank you. now, russia's gas problem claims the delivery of a turbine needed to increase flows down a key gas pipeline to europe is impossible because of western sanctions. moscow has been steadily reducing deliveries down north stream, one blaming technical problems, including the late return of the turbine from canada. but on wednesday, german chancellor, all shots inspected the turbine, which is in germany waiting to be sent on to russia. he insist gas prongs claims on credible and the turbine is in full working order. st. nick invite or nothing
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stands in the way of forwarding the turbine to russia. except that the russian customer service to see that they want it. and that they provide the necessary information to customers. all other permits have already been cleared. it is pretty simple. the turbine is here, it can be delivered. someone simply has to say, i want it is most humans are going to have all of shots there. in other business news now, the international monetary fund says, european nations should pass on the increased cost of energy to consumers in a bid to encourage them to save energy. the i m f, suggest that the current broader measures keep demand and prices artificially high . suggesting aid measures reserved for low income households. annual inflation in turkey is up again to an i watering 79.6 percent in july. president bridget type ad
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one has tried to take credit for what he calls price stabilization, but many economists are criticized his low interest rates. the central bank expects inflation to retreat to around 40 percent by this time next year in the 1st cargo ship to leave ukraine. since russia invaded has passed through danville on his way to lebanon, where it'll deliver it. shipment over 26000 tons of corn. are you on wednesday officials inspected the ship as part of an agreement with russia to ensure safe passage of ukrainian grain stops out of the country. germany is exporters have logged strong growth in the 1st half of the year despite the effects of the war in ukraine. statistics show that german businesses exported 750000000000 euros of goods. that's a 13 percent on the same period last year. value inputs grew to rising by 26 percent to $722000000000.00, driven by the growing cost of energy. we've been getting an assessment of the
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overall picture from claimants cobra at the german chamber of industry and commerce . our expectations for the german exports have still been quite damp and over the last couple of months. while the latest figures now may seem positive at the 1st glance, it is clear that a lot of these increases are actually due to price increases. and that's really a pity because you know, german exports with a ratio of 50 percent of the term g. d p means that every, every 2 percent increase were translate to one percent increase in g d p. and so these exports, mandy and imports, increases mainly being due to price increases means that in real terms, foreign trade is stagnating, which is not normal for germany. before war hits in february,
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ukraine's i t industry was one of its crowning glories. the country could draw upon a wealth of programming, talent, and startups with flourishing. since the russian invasion, the industry has proven its resilience with ukrainians, forced to leave their homeland still able to continue their work. it's a few last edits for diarrhea minutes before she'll take the stage and then networking meeting. she's one of many ukrainian i t specialists working from berlin these days since their full scale wars started the new frame. unfortunately, i was too scared to live in the country since i can barker more player and her. yeah, i think i can be more productive from the safe place than from like dangerous one. she's not alone. the german ukrainian organization feature has brought dozens of ukrainians, start up employees to the networking event we want to connect
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ukrainian and the german people and also to make people aware that her ukrainian companies, they are really cool. they are innovative and with them people and companies in europe and in berlin specifically, they could work and cooperate. re face is one of those ukrainian companies. and it's app has been successful internationally. on stage darya talks about how the startup found its own way to support ukraine doing the country's war against russia. barret wooden is the truces. i won't stop after destroying ukraine's independence. my muster plan is to restore the soviet in by parts a few cranes. economy will likely collapse due to the war. it's g, d, p haft. that's according to i, m. f. estimates. industry and agriculture are devastated. the booming i t sector however, remains mostly intact. it could be an important pillow for the country. many
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companies including re face, had to restructure amid the chaos, but they're still successful. i'll tell them. i really hope that the results of our idea in the state and our starts showed that we can, the bar occur maudlin and we can be effective and productive. nevertheless, re face has become one of the most popular apps in the u. s. sest area. most of its users, however, likely don't know that the company's headquarters lay in war torn ukraine. that's all from us by ah, into the conflict zone with sebastian. little is mona bobby, in the workings of the kremlin, especially with vladimir putin in power of my guest this week, former prime minister because cassiano what the bluetooth,
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nearly 2000. he knows what happened behind the closed door for the rocky governor. come with me on d w. lebanon's crisis ah. even after the explosion that brought me right to me years ago, nothing has changed. the corrupt ruling class is still driving the country towards bankruptcy. ah, rampant inflation is making survival id really struggle for the people in the 25 d w. oh, we're all good to go beyond the obvious
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as we take on the world. 8 hours, i do all the scans. we're all about the stories that matter to you. whatever it takes time policeman, follow me pain. you know, we are here is actually on fire made for mines. little is known about the inner workings of the kremlin, especially with vladimir putin in power of my guest. this week for my prime minister because cassiano worked on the putin in the early 2 thousands and he knows what happens behind, but close doors of the russian government. he says he feared for his own life after .

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