10 people was stabbed to death in the province of saskatchewan. i'm in a state. just intruder has described the attack as terrific and heartbreaking. that's all for us this. and we'll have more headlines for you at the top of the next hour, but day to now fidelity business. we brought wattsey has more on the gas prices late in europe for me and the entire team here. and then thanks very much. thank and departure to the to day this meet flying to a foreign planet in the 16th century, the mental being the captain and setting sail to discover

a route the world famous c. voyage of ferdinand magellan. i'd rather erase linked to military interests, erase linked to political and military, christy, but it was so linked to many financial interests and adventure full of hardships, dangers and death 3 years. and that would change the world forever. but jillions journey around the world starts september 7th on d, w. ah, gas prices leaf is europe. supply is squeezed, a russian decision to shut off the nod stream one pipeline and definitely takes its toll along energy costs. markets and the euro. and turkeys official inflation

figure edges of again it's now over 80 percent. the how reliable is that number 50 to be a business. i'm robust in berlin. welcome to the program. european gas prices again, reach near record highs on monday. you countries are digesting the implications of russia's decision to switch off flows down the north stream. one pipeline to germany announced late on friday. european stocks dropped to the stars of the week and the euro has been trading at his lowest value against the dollar for 2 decades . chimney's chancellor schultz insists his country can make it through the winter without russian gas. but your will need to reorganize its energy supplies. muscles per capes, does be. it's the smoother of more on their sled speak to mac dm a. maria de maps this deputy director of the brussels based economic think tank brew go. thanks a lot for joining us on t w business. this shut off of the no stream one pipeline we knew was gonna be shut

off. they said it was just gonna be for 3 days and then it turned out it's indefinite, but it's not a surprise. is it a no, not at all. it's not a surprise that the, the only thing is not so long as we are not making a decision by we, i mean, the european union, we suffer unpredictable consequences at the timing were put in decides and to inflate their pain. and so you know, we have to find a way of change and controlling the message here for as long as we dont decides and put in then it is capable of actually changing and turning the top off whenever lights so. so you're suggesting that it should be a decision taken by the european union to stop importing russian gas? absolutely, absolutely. but what would the impacts it's r b? i mean, there's a reason why that decision hasn't happened so far. it's that the unique russian gusto absolutely about the one we are the now that we're going to has to do without

it i am. we see it a happen, sir. i are the winds, offer of present button. what, what do europe me right now is to find a way of reducing consumption of, of all energy because all energy will need to be reduced and used to happen in a way that is control coordinated and corgan ised. this is while european leaders will be working for the september and alien october in the, in the following meetings that they have. and their difference would be that we will control that. we will manage that for the mom and we are simply reacting and as we are reacting. so is the market and we are seeing that the market prices are jumping unexpectedly or in a, in a way that is much more volatile than had it been at our own decision. and of course, the euro itself follows because it reflects the market sentiment. so do you think that european leaders are doing enough to try and prepare for winter without russian gasoline, chancellor shout soon. think that the germany is a good position to get through or at least to scrape through all day dave, that is the case. then we should take the decision much faster than this. they will,

they will not be any solution without the reduction of consumption. the question is by who, what pace? until when we know that next winter is going to be a difficult winter because we have to come from russian. energy always will happen by the end of the year. and gas, well, probably will have incentives, but it will not happen, but from us it will happen when the russians decide to do it, that is not good for the prices because it makes it much more volatile. i had european union come decisively and said we are cutting it off immediately or at the very dicks of all time pass. then all market will have organized themselves accordingly. and therefore, the price will be a lot more controls. this applies what it is, we cannot do anything about us, but what we can do is control the time table. can we read anything into patients approach here? cutting off supplies to europe in terms of what the impact of the sanctions of actually being for russia's economy. is it worse than the countries letting on

when i think very much of the sanctions given the decisions that was taken on the russian economy will only be in the medium term all the long term. let me care about this. he will because traffic for the russian economy, but we're not going to see this this winter probably for another 6 months or so. simply because we are still relying on energy on russian energy. and that of course, puts the price up. and it only benefits the revenue for the rushing economy. so that is the bit that i think we still need to fix that. we have to cut it off, bite the bullet, and forbid the russian economy for benefit thing from the huge incremental prices we've seen on, on energy. this is the issue that needs to be resolved the supply side. we have to cut it. but also let's be clear that the russian economy is going to make an enormous hits, but with some delay, i can read a message from brig. oh, thank you very much for joining us here on the to be business. now official data

from turkey puts onion inflation at over 80 percent for august us more than half a percentage point higher than the previous month. although some economists in the country and says the real rate is much higher while households battle extreme price increases. turkish industry is also suffering. it's an exasperating cycle, as prices for rent, electricity, and consumer goods rise, businesses are raising prices. as a result, customers have less money left for every day purchases. the textiles sector used to be a booming industry and turkey. now that's over. oh, we can't buy anything anymore. everything's too expensive. things that used to cost $200.00 lira about 13 euros a month ago. now cost $400.00 lira. we're just walking around here, but we don't buy anything. many shops are on the verge of bankruptcy, even smaller producers, the weaker turkish lira means raw materials that get imported are becoming more and more expensive. hudson, you know,

the price of everything from needles to thread have gone through the roof and we don't produce any of them, had neither the needles nor the thread in our own country. unfortunately, this is our biggest problem the turkish government is trying to support the leer as exchange rate, but president air to one is an avowed enemy of high interest rates. and that's contributing to soaring inflation rates. any tax is one of the biggest firms of its kind in turkey. here they die, and so fabric themselves. looking to compete with asian textile producers, this c e o says his company can do the job even more paying his employees well above the minimum wage. years all on your home, there was a 50 percent increase in the minimum wage, but the cost of living has doubled. that wage increase doesn't compensate for inflation. it's a difficult time and i don't know how long it will last long. florida knowles nicholas irving, his company could survive the crisis,

while many other smaller companies won't make it, leaving many turks without work and frustrated. for more on that, let spring in d to be a business reporter extra mckee g. thanks for being in the studio with us. 80 percent inflation now that's the least the official figure, isn't it? what's the impact is that having for household say, well that's official figure which is horrible enough. but the independent inflation monitoring group is suggesting that is actually 181 percent, which is which is even more horrible. it becomes a seizure it's, it's so much of a different way of looking at a more up to date, more realistic basket. as i understand it and the figure they come up with reflect the lives of wage laborers. and when you look at the supermarket, for example, in turkey, the food prices are through the roof and it's growing increasing almost every week . so, but 80 percent is already high enough to place turkey to the, to the, to,

to the list of highest inflation countries in the world as haven't. so, this is quite difficult. it's quite difficult to live in turkey right now, because when you look at your visual inflation figure, you will see that the highest increases in transportation and higher education costs. so it's really difficult to be a student. it's difficult to be moving around in turkey and it's definitely difficult to be of a laborer. i got elections coming up next year. haven't a social life is so much harder for so many people and inflation persists up until 2023. is that going to have an impact on the outcome of that of action? well, we will see about that, but what i can say is that i do on government does not seem to be changing course anywhere near anywhere soon. so, but for that,

we will need to see what is the concrete options from the opposition block, what they say, what concrete plaza programs they are offering? we have seen nothing yet basically. and when we look at the age of the government, they say everything is going on course and we will not sacrifice investment and production just for the sake of lowering inflation. so it's going to be all right, very soon we just have to go through a dark time. but when you look at turkish people, they are suffering a lot now, and i don't think they will forget it any time soon before the election. mckee, cheap from t t o e business. thank you very much to bring us that update. now let's take a look at some of the other global business stories making then use cfo of us retail chain bed bath and beyond. gustavo, our now has fallen to his desk from a skyscraper in new york city. the incident comes just days after the company said it was closing several stores. and after our now was targeted in an investigation

on a pump and dump stock trading scheme. jackie morgan plans to hire a team of retail bankers in germany is the biggest us lender, profess to expand his international consume of business. last year j. p. morgan entered the british market with a digital only retail offering. the bank has since signaled. it's aimed to expand this to other countries. 6 months after a government mandate to work remote to make remote work available to employees where possible, the option remains popular in germany 24.5 percent of employees still work from home as a new survey with experts saying it seems to be a long term work model now, lithium is vital to much of the technology that we use every day, including as far phones, for example. that's why mexico is hoping to make the most of its as yet untouched deposits. the government is setting up a new state company to oversee the mining of the metal. beneath these hills and

northern mexico lay large deposits of lithium. so far, the deposits have not been mind dot set to change, lithium as an essential raw material for the production of rechargeable batteries. in electric cars, for example, it's in major demand worldwide. the mexican government wants to allow commercial mining. this means awarding contracts to private investors said mexico's president andreas manuel lopez abra door who launched the plan in mexico city. no godaddy, it would not be enough for us if the exploitation of the lithium remained a public task. it requires a lot of investments young, but that he left, that is the government recently set up the state owned company, lydia part of mexico, which aims to organize and control the mining of lithium to meet surging global demand. the raw material is valuable without lithium and energy revolution moving away from fossil fuels, untoward sustainable forms of transport is not feasible. that's why the price of

lithium keeps climbing to record highs. but the environmental price of mining is also high. se critics. among other things, mining is very water intensive. and a reminder, the top business story we're following for you this. our european gas prices again reached near record highs on monday. your country's digesting the implications of russia's decision to switch off flows down a note stream on pipeline to germany, indefinitely. vessel from the business name. heron belin, from already had, i was a d, t v dot com slash business to next time ticket. ego africa. and you can only protect what you know is the motto for namibia is jarell. conservation is as many people know, are too little about these animals and doesn't get enough of keith. and when the

sea animals example it's you laugh from kenneth and infant, the giraffe conservation foundation wants to change this eco africa. next on d w, we've got some hot tips for your bucket list. ah, romantic corner chat hot spot for food and some great cultural memorials to boot d w. travel off we go ah, with most the force now feeling the effect of climate change. there is forest fires, drought.