repairs it's roll out of 5 g internet. following years of delay, we'll look at who stands to benefit and think of it as a large thermos bottle. new warm water tower near berlin could serve as a model for storing renewable energy. hello, welcome to the show. i'm from beardsley in berlin is inflation in the world's largest economy peaking. that's the glass half full outlook after wednesday's reading of u. s. price growth, annual inflation in july, falling slightly and remaining unchanged from the for decade. hi reached in june. markets in u. s. and asia responded enthusiastically to the new reading. investors hoping the u. s. federal reserve will now hold back from a higher interest rate hike. that would cut deeper into business profits. carson just he is chief economist for i n g germany. he joins me for more. carson, or we celebrating too early is peak inflation in the us. now, what can we really say, and what can we not say?

well, i think where we can, we're celebrating turn in all honesty. yes, it might be that next month in face was to continue to come down. why's that? because energy prices have come down as the price that comes out at the same time. we still see that way you saw rising in the us. the labor market is strong, so i think we're celebrating to early, even if an inflation might continue for a couple of months to come down. or is that the view in the us? what about here in europe? does this reading in the us? does that tell us anything about what we can expect here in europe? well no, no, not really well. it shows us that when. ready global global energy prices come down, we should also benefit from it in europe, but don't forget, global energy prices are in boston, us dollars and we have a very weak are you right now. so this should almost offset the drop in global energy prices. at the same time, we see with germany, for example,

that governments have introduce relief packages. they put some cap on prices, which artificially has brought down inflation. but this understandable so year in germany all in the entire year the, we'll see that inflation will continue to remain high. it could even increase after the summer and will only start to come down on the very end of this year. no, we're close to the 2 percent. the c b is aiming to what extent our energy prices caused by ukraine war separating the dynamics that we're seeing in the u. s. and in europe either is very easy. the u. s. is a net exporter of energy. the years a year is a net importer of energy. this tell it to the entire story. so these high energy prices to some extent can be beneficial to the entire yours economy. while in the europe, in the euro zone, high energy prices are please burn on households on companies and will make

that the european economy will enter a recession in the 2nd half of this year. which, which shows us that there is a clearly to speak, recovery to speak, nama development is going on, us being much stronger than the european economy. to what extent can the european central bank try and control the framework around inflation? try and, and put the brakes on it to some extent. but there is no way they can bring down energy prices. what the european central bank is currently trying to do is to break down inflation expectations to show people to some financial markets, to show companies that they, there will not be a so called wage prices are going on. so this is why they will continue my interest rates at least another part of the september meeting. i think 50 basis points to

show their determination to get a great on inflation expectations. there is very well they can do to bring down the current in place numbers. they will have to focus on 20232024. all right, carson jesse with i n g germany. thank you. and let's take a look at some of the other business stories making headlines. disney has added $14400000.00 subscribers to its disney plus streaming service in the past quarter, bringing its total to $221000000.00 subscriptions and passing netflix for the 1st time. disney also reports strong numbers for the whole company, boosted by parts revenue. recovering from the coven crisis. german gas storage facilities are almost 75 percent full and on track to be target set by the government. despite reduce russian gas deliveries. for weeks, germany has been buying gas in the global market while conserving energy in an effort to fill the national reserves head of winter over to india now,

which is beginning its roll out of 5 g internet deli holding its 1st auction for networks spectrum. just last week, and that's much later than many other countries in india account, the 2nd highest number of smartphone users in the world, a number that even increased 20, some percent year on year and 2021. so that's what's what, that's what was at stake in the recent auction. now, billionaire mac, i'm bonnie's reliance geo, when the lion's share of 5 g spectrum followed by bar t air tel and vodafone altogether, the auction generated some 19000000000 euros for india's telecoms regulators. the companies expect the roll out to begin later this year with a focus on 13 major cities at the beginning, including deli, mom, buy on china and shy. and those are among india's most populous areas. i recently, or i spoke earlier with our deli correspondence and asked him what 5 g would mean to the average indian. here's what he said. well,

i think steven the biggest take away for the average and in consumer is better speeds that has been promised that 5, you will have 10 times foster download speeds, then for g, this is likely to improve a video. streaming experience is likely to really ample. the gaming experience, that is something that gamers are really excited about. and in general, just give a better connectivity even in areas where there was there of which, which used to experienced color drops and data drops so far. so up, that's the biggest take away. there's just a handful of telecoms in india right now. you and i were talking about this yesterday. they used to be a lot more. how could that affect the build out whether that's true, steven, of, or till about a ticket ago, there were more than a dozen telecom service providers in india. and now that i just 3, there are 2 more which are government run, but they're not doing very well and they do not have a lot of market share in the country. so effectively there are 3, only 3,

the telecom service providers right now, at least 2 out of those are heavily stressed because of various complications in the sector itself has been going through. now in the last couple of months, we have seen that the government has extended announced a sort of below package and is also working on more packages to help the telecom companies. it is expected that 4 or 5 g will lead to better our pools. our average revenue per unit for the telecom companies, which are likely to which they are likely to short up their finances and help them relieve this stress a little bit. stephen, when we go back to touching on our 1st point, this idea of the rollout beginning with cities, we talked about gaming a little bit. some of these applications. how wide spread, though, are those benefits likely to be in india for starting just in sort of these, these urban areas where to begin with, the benefits are likely to be limited to earlier than it is as you said. but

eventually of maybe in a couple of months from now, as the infrastructure improves, as the fiber position of telecom dollars improves as more and more smartphone and the cheaper smartphones. 5 g unable smartphones cookie coming in, coming to the indian market. the benefits are likely to move on to the hinterland as well because those areas that are a lot of those 8 as are already seeing $3.00 and $4.00 g speeds. so experts expect that it will not take too much time for 5 to go into those areas. as well as student a brief intro, have to ask you one of the big debates around build out of 5 g and recent years has been a participation from chinese network supplier, huawei india was under pressure to cut them out as a supplier pressure from the u. s, i should say, what do we know about always participation? well, it's true, steven, better india wanted her will be and that deal to, to be out of this. but in the, i did not a band them. it did not put out a restraining order. i did not ask other companies to

a not to give the contractors who are bay, but does the who have the contracts been given to has not yet been announced. but there has been several media reports that the company that have a wonderful idea spectrum big they have given the equipment contracts to other providers like nokia, like a dixon, like samson. so b and d have effectively been left out of the race, steven char carts. okay, from our daily bureau, thank you. about to europe as germany tries to speed up, it's built out of renewable energy. one problem has been figuring out how to save unused energy for days when renewables create less energy. energy storage systems have become more important and they take on different forms, such as the mass of water tower just erected near berlin. think of it as a kind of thermos bottle. a 45 meters high energy storage facility is under construction. new berlin is the largest of its kind in germany,

built by the major energy company. what temper, weekend store energy in the form of warm water will put it in the grid and then the customers can have a hot shower or in the winter heat up their homes. it's very difficult to store the energy coming from renewables. often the potential of windmills and solar panels is wasted because their energy is not needed at that moment. thanks to this tank, that energy can still be used to warm up water that will be stored and used later on. this tank can hold 56000000 liters of warm water, about 350000 backups. so if you, for example, a go out on a day trip in the morning, you make your coffee nice and warm, you put it in a thomas 3 hours later. you still have your warm cup of coffee, that's kind of add the idea. but the transition to renewables is slow. so far, only a fraction of the water in the tank is heated with green energy. the strategies to

stop using fossil fuels by 2040 or 2050. to achieve this, the entire infrastructure must be transformed. i mean, these are huge things before you have this plant engineered. constructed that takes time the we all would like it to go faster. as worries over russian gaskets mount storage tanks like this can help relieve some pressure, but much of the energy use to heat up the water still comes from fossil fuels. massive investments and renewable energy is, are necessary to make the process more sustainable. and finally, it's like selling ice at the north pole. that's what critic said. when u. s. pizza chain dominoes opened its 1st take out a brit franchises in italy. that's the motherland. pete's of course, couldn't even work. well, it turns out that it couldn't, after setting an ambitious goal of over $800.00 stores and raising hundreds of

millions of dollars, cells work, what the company had hoped for this week. the last of the mere 29 stores that had actually opened or shuttered right. his reminder of the top business story were falling for you. consumers in the u. s. are hoping that inflation in the world's largest economy has peaked after new numbers, show the annual rate falling slightly in july markets in the u. s. and asia responded enthusiastically, it's the new reading that's it for me. and the dw business team find us online, the ww dot com slash business in beardsley. watch with awe. with

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