is this our ukranian 40 say the nuclear power plant example rita was briefly off the power grid for the 1st time in its history earlier today. they say a cable is damaged by a fire that the plant was unable to deliver power to the surrounding area. fighting between russian and ukrainian troops for control of the facility is raised international concern about a possible nuclear accident. you're watching the w news janelle's of next week dw business news. i will see you tomorrow, with the stories that people of the world over to information. they provide the opinions, they want to express d, w on facebook and twitter up to date and in touch. follow us. mm hm.

with ah, ah, paul eyes on jackson hole. central bankers from around the world gather in wyoming for the annual summit. but if the signals from the federal reserve that markets are eager to parts and solar farm or through our church, one project in germany shows how land can be used for both. at the same time.

this is the w business. i'm janelle dumas unwelcome federal reserve officials and leading economists are meeting further annual symposium in jackson hole. fed chair jerome powell is due to give a speech friday, and investors will be looking for clues about the future of the central banks policy outlook. many analysts are expecting the fed to high interest rates by 3 quarters of a percent at its meeting next month, instead of half of a half percent. our financial correspondent joins us from new york, teddy austro. what can we expect from the speech to morrow? well maybe we can start with what jerome powell should expect from jackson hole, and that is a tough crowd as the financial times has described it. and that's because, well, last year, during the event at his speech, he declared that inflation was transient,

that it was acute that it should not linger on. well, we're a year on and inflation certainly is raging. so what we should expect is trying to shore up some of the loss, the credibility of the fed up, which has been responding to this inflation with unprecedented hikes in the interest rates. now, the markets will be expected to scour over the speech. i'm looking for any hints of what would be done a $75.00 basis points like a 50 basis points. well, john paul is unlikely to give any specifics, but will declare that the fed is looking at the data and will act accordingly. i'm sure i'll be asking you about that speech to morrow, but in other news, there is some new data that corporate profits are surging. despite the slow down that everyone's worried about, what more can you tell us? yeah, well this is new commerce department data showing that, well, a corporate america is actually having a field day right now. corporate profit margin is actually widened. i'm in the past

a quarter. they are as high as they were on in 1950. that's pretty significant. now this does actually tie into the inflation discussion because, well, there are some economists who believe that corporate profit is a driver of inflation in part. now, how does that work? it means that us of production prices go up for corporations. they pass that on to the consumers without taking a hit on to their profits. in fact, we have seen record breaking profits for the past 2 years. and we should expect some lawmakers to continue asking for higher taxes on those profits to address some of the inflation crisis. just wanted to say when for taxes, probably staying firmly on the agenda there. a thank you, teddy austro and new york for us now to some of the other global business stories making news. city group will close. it's consumer and commercial banking businesses

and russia beginning this quarter. the u. west bank expects to incur around $170000000.00 in charges over the next 18 months. the closure will affect about 2300 of cities. $3000.00 employees in russia, ukraine's economy minister says her country's economy could stabilize during the coming year and grow as much as 15 and a half percent. really, you william serv. danco said the growth depended on military development in the war with brush this year. ukraine expects a contraction of 30 to 35 per cent. cheap flights are coming soon to saudi arabia, hungary, based on budget carrier with air is considering basing a plane there. the airline is launching direct flights from 11 european cities to re jada. jetta and da mom, beginning early next year. it's part of an agreement signed with the saudi government. as climate change puts power and water services under pressure in the

u. s. a. utility company in central california is hoping to provide relief by installing solar panels over its canal system project. next us in the turlock irrigation district, aims to provide additional renewable energy in the state without taking moreland for solar and prevent water in the canal from evaporating. the $20000000.00 state funded project comes as the state attempt to meet attempts to meet its renewable energy goals. it has that a target of 50 percent clean energy generation. by 2025. we're joined by josh wymer. he's the external affairs manager at turlock irrigation district. welcome josh. with respect that seems like such a simple idea. why hasn't anybody come up with it before? you know, that's probably the main question that we get asked in theory. it seems so simple and so obvious. but, you know, in the past, when this has been talked about,

there just seems so many obvious barriers for why you wouldn't do it. so many potential hiccups and hurdles you would have to cross for not really too big of a benefit. at least that's what we thought. and then when the research paper from the university of use mer set came out, it really made us reconsider the entire process to see what would the potential water benefits be and also the renewable energy benefits. so that academic research really brought it into a fresh perspective for us. perhaps it can go a bit into detail about those benefits. what are they? so for us, what we're really interested in, we're both a irrigation district. we provide irrigation water to over 150000 acres and central part of california, some of the most productive ag land in the world. but we're also a retail electric provider as well. and so the dual benefits of potential water savings through evaporation loss and also a reduction in aquatic growth,

growing in our canals that got this very interesting on the water supply side. and then on the renewable energy side, we have renewable energy mandates that we must meet from the state of california. and so we are always looking to add new carbon free solutions into our retail electric next. and so, combining those options, being a dual benefit project made a lot of sense. we have 250 miles of ours in our service territory. and so the idea of using existing land that we own that's already disturbed in putting canal, putting solar panels over those canals, made sense. and it made us really look hard at the potential benefits and the cost to see if it's something that we should pursue as a pilot project. now earlier you spoke of hurdles. what kind of hurdles are you facing with regard to this project? yeah, the, the main one is how do you span canals?

we're solar panels. we have to are 50 miles and canals. all different shapes and sizes, some as small as 20 feet wide, but others over a 100 feet wide. and so really we're going to be starting to locations a one, a 20 foot wide span, and the other $110.00 foot wide. and so how do you span that without in any way disturbing your ability to deliver that irrigation water and maintain those canals? so we can post with an arc anal banks. we don't want to do that, that could potentially limit our ability to maintain and operate our canals and also potentially impact the integrity of the canal system. so from, that's where the highest level is just the concern about maintenance and operations of the canals. and so we're in the midst of our engineering and designed to be able to span such a large with of a canal system. and so really, that's the main hurdle. fascinating stuff, a josh wymer. he's the external affairs manager at turlock irrigation district.

thank you so much for your time today. thank you for having me now to another solar project that does require land, but increases options for that lands use. here in germany, farmers and solar energy scientists are working together to reap actual fruits and the fruits of renewable energy. apple trees down here, solar panels, so top, can fruit and electricity be harvested on the same field? that's what they're trying to find out on this 3000 square meter project in the german state of rhineland palatinate list enact. i says his trees needed cover. anyway, there caught more frequently in hale and heavy rains. big a bank of our guns club report from cooper foot stems. it's pretty simple and we need to protect the plants from and when we can combine their needs with an option to generate solar power, what i, which we can either use ourselves or sell them. we're having really good synergies

. the whole idea leads to something useful and positive from further proof of the solar panels. us semi translucent, allowing for about 50 percent of the suns light to still reach the plants beneath. much like plastic sheets. the panels cover 8 different kinds of apples. scientists want to see how they will develop the electricity produced by the panels isn't yet connected to the grid. critical parts are still stuck and delivery. much of the form is already running a solid electricity. for example, the apple sauder, the new panels should come on line in the fall for the article to vote heigenbeck this act affordable tag project is meant to support the general power supply. looking at the size of our plant, we expect that we can power up to 50 full household. so before of on for

solar power, scientists agree that the potential is huge. if i know my max tom stoffer, his team, a co ordinating the test run here, they have calculated that solar technology on just 4 percent of germany's agricultural acreage would generate enough energy for every one. but there's a lot of red tape and continue who gets as in the process to get a permit for agra photo will take plants is a real problem right now. that entire process needs to be simplified, especially for small fields of less than 2 hectares. that would enable gardeners to join farmers in this field, and garden bo, balancing a growing need for power and food. experts are hopeful that their tests work out, and they can't double their harvest. and finally, speaking of food, food inflation is putting millions in a tight spot in thailand,

the government has now a law allowed the 1st that price hike for instant noodles. and 14 years the new price for $3.00 major brands will be 7. but that's one bought more than what ties have been paying the 15 percent hike is not easy to stomach for all. that's i so far more checkout d, w dot com slash business and the d. w. news youtube channel for also on facebook for me and the business team here in berlin. thanks for watching. oh, the ryan is drying up. at certain places along germany's longest river, the water is not even one meter. we take a trip on one of the few, ferries, still running on the right will the drought soon lead the entire shipping industry

high and dry? focus on europe. a. w is the end of the pandemic in site. we show what it could look like. will return to normal and we visit those who are finding it difficult with successes and you know, we're weekly coping 19 special in 60 minutes on d. w o. into the unknown to day. this means flying to a foreign planet. in the 16th century, it meant being

a captain and setting sail to discover a route a race linked to military interests, the race linked to political and military facilities, but also linked to my financial venture full of hardships and death. my children's journey around the world. sports, september 7th on dw. ah, this is focus on europe. i'm laura babylon. welcome to the show. europe is drying up. a new report by the commission says the continent is experiencing its worse drought in 500 years.