for the day and i must be just that he and the last arno stands will have play to watch in venice this year. the big question is whether the world's oldest film festival can get them off the couch and back into cinema's. you watch the w. w business news is up next with kate ferguson. i will see you right here again tomorrow with sh, i'm just kinda, i want that's hard and in the end is a meet. you are not allowed to see you anymore. we will send you back. are you familiar with this with the smudges reliance of the what's your story.

ready i mean, wasn't, i was women, especially and victims of violence and take part and send us your story. we are trying always to understand this new culture. so you are not the visitor, not the guests. you want to become a citizen in phil migrants, your platform for reliable information oh, oh, another blow for a german golf supplies rush up, dan deliveries along the north, 31 pipeline saying it's closed for maintenance. we off can europe cope if supply don't resume all the coming out from then to on finished buildings in china,

leave home buyer is facing difficult choices and now plays off a 5th of its staff as a social media company struggle to stay relevant in a competitive market this is the only business i'm k. ferguson, thanks for joining me. russia has to spend at all gas supplies to germany through the north stream. one pipeline. state energy from gas from says deliveries will be stopped for 3 days for maintenance work. but there are days over weather gas will start flowing again on saturday. russia had a ready reduced with $31.00 flows to 20 percent of their normal capacity fighting technical reasons. the german government accuses the kremlin of using gas applies as a weapon to retaliate against western sanctions. for more in this, i'm joined by carl natalie, ceo of crystal energy. carol with a stop it really only last 3 days. well, your guess is as good as mine,

but many fear the stoppage is going to last much longer than that because we have seen the trust shine. it's not really a surprise has been using it gas supplies to europe as a weapon to achieve certain political points. and so that's why i think the markets here maybe factoring the source supplies not coming back to the market after 3 days. or if they do, they may not be fully back in supply. so we have to wait and see what i'm more on the cautious side. now, ukraine's president vladimir zalinski has accused russia of waiting an overt gas war against a united europe. do you think europe is united and its response to the energy crisis? what is to think of to describe europe as united because the countries are not, you know, they don't have one genius situation. partly because of their reliance on gas. so you see guessing a bigger role, for example, here in germany where i'm fitting then and so for instance,

by the neighboring countries. and it's not only the reliance on guess, it's also on russian guess. so germany has a much bigger exposure to russian gas induction. guess applies and let's say spain . so in that respect, it would be unfair to could decide you know, for not being united because that is countries and that's, we homogeneous. but it is fair to say that so far, they have displaced a united front against russian aggression in ukraine. ok, so they're showing a united front. but how equipped would you say europe is in the case that russia decides not to resume delivery through north 3? 1? i can't say the fully equipped otherwise you wouldn't be seeing the prices that you are seeing today, quite high prices, but they have been working very hard on reducing or minimizing the impact of losing their supplier and the local supplier that is russia and they've been working on it for, for a while now they knew,

and they still know that they cannot entirely on rush and gas because you cannot find immediate available supply out there. and that's why they have a non functional on coal, on oil, but they have not enough function on gas, but they are working on reducing their defense and russia. no said. and i think at 1st i did not know that there would be taking the stuff that they are taking today because the thing for the worst case scenario of not having access any more in the future to the market. okay. so it could be a really tough winter ahead. carol mosley feel at crystal energy. thank you very much. thank you. snap tubs, parent company says the video messaging up will be causing 20 percent of its stuff . the ones popular up has had trouble staying competitive with platforms like tick tock and is facing a steep decline in our sales. in july, the california based company reported quarterly losses of $422000000.00. stop that says it will restructure the company to focus on augmented reality and revenue

growth. let's talk more about this with d. w. financial correspond teddy also in new york. hi teddy, good to see, you know, snap is just one of several companies that hired really aggressively during the pandemic, only then to last job 2 years later. is this any more than a major miscalculation of the pace of growth? well, definitely, as a miscalculation, i'd say it's a grander miscalculation across the entire tech sector, which saw explosive growth over the past 2 years. and now we're seeing this contraction. and even as there is a red hot labor market here in the united states, the tech sector is rolling out these layoffs, as you said. even the big ones like meta and google, we are seeing hiring freeze is, but for snap, this may be run of the mill competition as well. staff is a relatively small social media company compared to some of the big ones, like facebook, like tick tock. but also the company has blamed apple for changing its privacy

policies on the app store, which has made it apparently harder for the company to test and track it the ad campaigns. and that's why we've seen snap stock go down pretty significantly in the past several months. it's up has a nice major restructuring plan as well. and tell me a little bit more about thought on whether you think it work well, it's a pretty radical restructuring plan. so the company certainly hopes it will work. but i'd say it's hard to tell at the moment because of the economic uncertainty in the economy. the company is trying to trim the fat if you will get rid of some of the hardware. it's been working on like augmented reality glasses, some drones, but also some things that were under it like games and other apps. but we have to remind ourselves where did this boom time. com in the past 2 years for the tech sector that came from the fed, putting a lot of money into the economy,

a lot of cheap money, and now we are seeing opposite interest rate high the contraction of the economy to tame inflation. and this is certainly going to hurt snaps prospects, and you'll be hard pressed to find, i believe that level of growth in the near future. it is such a competitive market. teddy australia, thank you so much. now to some of the other global business stories making news, microsoft a nice table create 36000 new jobs in ca, tara, by building a cloud data center. the technology giant hope's the move will help the gulf states in its effort to distance itself from the gas and oil industry once completion. the new facility will be one of microsoft largest international projects, up to a $120000.00 retail service firms, and it should be with going out of business over the next 10 months. that's according to business lobby con camacho, which warns that searching energy costs will force companies to go under. if the italian government doesn't to step in to help. they estimate 370000 employees could

lose their job. e commerce giant alibaba is among the 1st batch of chinese companies to be audited by us regulators. that's after beijing allied, the u. s. to vet firms in china and hong kong. the move could end a long running dispute that threatened to boot more than $200.00 chinese companies from u. s. stock exchange. russian gas di and gas problem which owns a majority stake in the north stream, one pipeline to price the market by posting a record profit of more than $40000000000.00 for the 1st half of the year. the shares stored over 27 percent following the news. gas problem is planning to extend pipeline project to china, which has not condemned russia. the invasion of ukraine staying in china, overt act of protest are not common there, but public anger of the country's real estate developers have been all too clear to

see. chinese mortgage holders have been withholding re payments on mass as they wait for their homes to be finished. as patrick fock reports, many borrowers have been left in dire straits, the zones as you approach this part of han and province by train. you see it bears all the hallmarks of china's growing crisis in the distance, unfinished construction projects scattered across the city. this is, drew my dea, a city of around 7000000 people in southern had an province meacham bought a home here in 2018 for just over half a 1000000 new on equivalent of around 75000 euros. the developer was meant to complete the project in 2020 but ran out of funds. lead in want to show his face on camera fearing possible retribution. but he was fed up and desperate to speak out about what's happened to him or the monumental longo. i bought the apartment in 2018 la. earlier on the it was agreed. it will be ready in 2020 raj,

another throng. why? they stopped working? 2019 issue and they're still not working on it now. the mayor was on the 3rd, the apartment has been left to rot ever since the law, illinois chandler, i'm here with the wall the day we visit other home buyers come to meet lee as well . among them an elderly woman with 3 young girls. and so she's their grandmother, their parents are migrant workers and live far away in the south saving for the family. she looks after them here. i'm with ya. she says she fears their home will never be finished and the girls won't have anywhere to live. one of the things that's really extraordinary here and really gives you a sense of the scale of the problem, is this whole road is lined with unfinished buildings, one after the other. as far as the i can see the homeowners here say there are thousands of people in tomorrow. dan, who bought on finished homes with nowhere else to go some or even considering

moving into these ramshackle buildings. but there are hundreds of thousands of others across china in similar situations who are simply refusing to keep up mortgage payments. that may be a problem on losses on him by the wrappers, as also father, father pans, and also for the economy as well. patrick wong is a real estate analyst with bloomberg intelligence. he says, policy makers mainly to shake up the practice of bias, pain developers before completion. nearly 90 percent of all homes in china, our pre sold a senior passes. we really rely on the pizelle conscious haunted sales to funder porch at the wellburn or to have fun if under internal financial resources or buying the land. the crisis has power pressure on the government and stud social unrest. many people have expressed sympathy for victims likely or do their shantora donning up soon. hi along. i just want everyone to be able to see that ordinary

people are drowning in misery lava. hey, our son hudson. what other people have nowhere to voice their grievances through his law, the yoke who was jose, irma if left unresolved for many, the consequences could be crippling. and that's all we have time for. thank you so much for watching, where you can check adobe dot com slash business. we're on the dw news youtube channel as well from me and the team here in berlin. as tickets with caught red handed to the massive ships, dumb, poisonous waste water into the world. ocean accused and n g o is investigating 1500 cases in b, u waters along but were there consequences?

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