also on our show, can a battery powered ship in norway help revolutionize traffic on the sea. we'll take a look on welcome to the show. i'm seeing busy in berlin. it's could have you with us. when increasingly volatile wind energy sector helped push german multinational demons energy to a half 1000000000 your loss after taxes in the 3rd quarter. the spike positive numbers from its gas and from its gas sector. seamans energy struggle to contain the turbulence hitting european wind turbine producers. where prices are growing and competitiveness is falling. a turbine producer, siemens mesa, which is majority owned by siemens energy salt, new losses in the quarter seem as energy is now buying a mesa's remaining shares of seem as energy is also in the middle of the unfolding drama. around rushes, falling gas deliveries to germany. the ceo saying monday with those new quarterly results that his company is still trying to deliver a gas turbine to russia, following maintenance. but that is, the delivery shouldn't really make

a difference for gas pipeline operation. as it's a spare turbine, a c o christian brought telling c n b c that he cannot reconcile moscow's emphasis on the single spare turbine. with its cuts to gas supply. a russian gas deliveries to germany now down to 20 percent of what they were. i spoke today with siemens energy chief financial officer, maria ferraro, about that turban. but 1st i asked her about her company's latest results and how it's going to reassure investors. look, i think as always, siemens energy as a group actually has gas and power and the wind portion of it. and you're absolutely correct that the wind or as, as jerry did way down the results. but for this quarter, however, how do i reassure, very simply on the gas and power side, and in estuary, from a top line perspective, we have a record order intake value of almost 94000000000. i think that underscores the

customer confidence. it underscores the importance of us as a company and the fact that the world needs humans energy for the energy transition that we've all committed to when it comes to cash. for example, this quarter again, our gas and power segment has delivered a very solid result. so yes, we know that there's issues in as cherry, i think the asiri management articulated that very clearly last week in their earnings call. but this together, we see a very bright future for both gas and parent estuary, in terms of the energy relevance of our company. we, we could also say not just s g r e, the entire wind energy sector is incredibly volatile right now. the order books are full, but we're seeing rising cost supply problems. and then there's growing competition from abroad. consumers energy really turn that around. and it's when subsidiary, when other major european suppliers are also having problems. is stephen,

you're right. i mean, this is a sector that it's interesting, isn't it? it's so absolutely necessary that we have success in the wind sector because of course, the energy transition can't happen without it. but you're absolutely correct that there is no global supplier at this point in time. that has or is making money. so something has to change there. and it has been plagued, if you'd like, with all of those macroeconomic challenges that we're all dealing with, such as rising in put cost, supply chain disruptions. and of course, imagine in that, in that sector specifically, how important logistics and transportation is in the fact that those costs have exponentially risen, has also not helped. so i think you're right, it's all a matter of how do we ensure that this sector is fixed? if you'd like going forward and that it's an area where a business model as such is viable. that's absolutely important. there's been much a do in recent weeks about a gas turbine that siemens energy has repaired in canada. and it was delivered to

germany, fort final destination, to russia, and placement in the north stream, one a pipeline facilities to help bring more gas to germany. that, of course, a critical situation right now, getting gas supplies in germany much has been made about this gas turbine. do you expect to deliver this to russia in the coming days as humans energy expect that? yes, steven, i think when it comes to the gas turban, everything has been said so far. i mean, it's ready. it's here. i think everything is there in order for it to be shipped. we're just missing one last piece, which is customer documentation that we should be receiving from the customer in order for it to go. i it from a siemens energy perspective. we fulfilled all obligations necessary and it is ready to go as soon as they want it. when asked you lastly, russia recently saying that only one turbine of i believe 6 needed for that pipeline is in service. has siemens energy been contacted to repair to fix others

about any of those other issues with turbines? ha, when regards to north stream one yeah. as i said, steven with respect to the last gas turbine, it's here, it's ready to go and in with respect to other gas turbans. no, there's been no contact or i maria ferraro is chief financial officer for siemens energy. as always, we thank you for joining show. thank you. steven. bye or germany's gas crisis means there's more pressure on renewables to pick up the slack solar energy is one answer, especially in the countries sunny south. but installing panels is just one part of the battle. take a look. yes. who's the man is checking on his power plant. he runs an energy conversion business near munich, and also owns a sprawling solar power system on the flat roof of a transport company in our, in the german state of bavaria. the sun's been shining on his panels for months now, but looking at recent performance charts, who's

a man sees that his power yield remains slow. oftentimes, no power flows from his roof to the local energy provider at all. for her, as in the southeast, griffiths via $200.00 days have passed so far and we have had outages more than half the time. and if you look at the proportions, it's on the days with high output that the system is interrupted on days with snow and cloudy skies. the installations work well. the problem, the energy who's among generates flows into power lines run, baker, it operator energy. but in sunny weather, the power lines are becoming overloaded, then the grid operator cuts off supply from the solar panels. the company says it can't handle that much. is in the surf oil, have i? we realize, and we are pleased that many photovoltaic panels are being built on a scale that we have never seen before. however,

a photo will take installations need one to 2 years before they can be put into operation. while the grid infrastructure, which has to be set up in parallel, takes between 5 and 10 years to senior or lack of infrastructure is hampering germany's attempt to become more energy independent. let's take a look now. some other global business stories making headlines. senate democrats in the u. s. past the inflation reduction act on sunday. the bill includes the largest climate investment in u. s. history, some $370000000000.00. if approved by the house, the new law would provide americans with a tax credit of $7500.00. when purchasing an electric car plus a 30 percent discount on solar panels. the government in ukraine fears that this year's wheat harvest will be down by more than 30 percent from last year. not only are their export problems, but many fields are full of mines. that's according to the agricultural minister. and so far, at least 20 farmers have died while working. you created the 8th largest we,

producer world wide. it's a big ship and perhaps a small revolution on the seas. in norway, a batter, battery powered cargo vessels making waves. not only is it fuel free, it's also autonomous. and that has ramifications for the environments as well as for the mariners on board the yeah, vehicle and could revolutionize nobody's shipping industry. there are no smokestacks blowing exhaust fumes into the air. the engines are powered by batteries. soon, captain thomas fever and his crew won't even be on board. the yard deer coolant will drive itself autonomously. here liber programmer, i looked up, pursuing the software will take over my function on board better currently it locks everything. i do in you know how i adjust to propellers and what routes i take as a result and the system learns the framework operations. annabelle bar 4 see in the

bottom afterward. and one of the holiday inn offered for lincoln to ensure safety captain fever and his colleagues monitor the ship from shore and can intervene to steer at any time. the crew on board is being steadily reduced, was oscar horn to wash puddled up over the next 2 years. we will add more autonomy functions and continue to test the technology all before the last 2 navigators, finally disembark, turn of what this innovative form of c transport comes from. fertilizer manufacturer, i gather each trip on the yacht, bureau coolant carries up to $100.00 containers, a fertilizer, 2 major ports from their cargo can be shipped a broad yet. and they've got shooters. no, until recently we transported every single container by truck each year. there was around $40000.00 trips. we now have shifted a c transport. the ship is electrically powered and will soon even seal without the

crew of elaborate on the water gotten. no crew accommodation means more space to squeeze on additional containers. it's the benefit for the environment and it eliminates the risk of human error. soon. people like thomas fever will have regular working hours in control center or land. instead of spending months away at sea. all that will be missing the classic seafaring adventure. over to latin america now argentina's new economy minister has pledged to tame the country, struggling economy. sir, your masa has announced multiple measures, charging inflation and the countries big budget deficit. but can he succeed where his predecessors have thus far failed? argentine has had 3 economy ministers in the space of just a month, but the latest sergio massa has started his tenure with a clear goal to follow the i m f guidance to help stabilize the economy. we must, so you will not be made out of your live that other day we had our 1st working

meeting with the i m f. like it was productive on the implementation of a financial program. inaudible. we agreed to continue the planned payments and to face the challenges with the measures that up pointed out laura felt handle about to do with that media. inflation is argentina's biggest challenge, leaping from a recent low of under 40 percent. during the pandemic, hitting 64 percent in june, massa says he'll end the practice of money printing to fund government spending. he'll also build up reserves of foreign currency, but there's an ideological battle behind the scenes, while massa wants to reduce deficit spending, vice president, christina fernandez to cash now believes the government must spend to shield citizens from inflation. hey, emily, i though you, i know a from i am a worker and just like every one else i am struggling to make ends meet with all this inflation go into effect. okay. yeah. but we can hope,

hope that things may change argentina's, economic woes, a decades old and argent times a demanding change. and finally, australian airline quantity is looking to handle its staff shortage in a very unique way. i like much of global airline. it's asking that is executives to volunteer to help fill the gaps at airports in sydney and melbourne. a quantity is struggling to return to regular service like many airlines laying off thousands during the pandemic and having trouble staffing back up. a quantas had of operations after 100 volunteers reports yet on how many have signaled they want to do it. that's it for me and arching, thanks for watching. ah, ah, with

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