united kingdom for queen elizabeth, the 2nd will be remembered as a friend of germany. all the news for now coming up next business news with daniel winter statement for that. i'm william . good. craft will have much more view coming up at the top of the hour. no extra dig up w. com and our social media active use on twitter and instagram for the latest. thanks for watching. ah. people in trucks injured when trying to flee the city center. more and more refugees are being turned away at the border. families, planes on attacking the reason for the credit on its way located demonstrate people fleeing extreme ground. ross

getting 200 people from the juicy around the world. more than 300000000 people are seeking refuge. yes. why? because no one should have to flee. make up your own mind. d. w. made for mines. ah ah. wall street stood still for just a moment today to honor queen elizabeth the 2nd for the minute to find them on the new york stock exchange will find out more my correspondence. as european finance ministers meet in prague to discuss energy prices, we look at one struggling business. the glass maker now paying 20 times its normal

gas also coming up cubic currency hit a 30 year. lo will look at how already struggling cubans, a coping the was in the comp time, again the w. a business welcome tributes, marking at the death of queen elizabeth half poured in from all corners of the world. even american businesses honored the late sovereign, leading the tributes. the new york stock exchange, which held a minute of silence. before friday's opening fell in a sign of the queen's popularity in the united states and the financial world, the financial press also put aside to financial topics to lead with the news, as well as that of the accession of the new king charles. and let's get more in this ah, with a correspond against quarter in new york. and yet it wasn't just the new york stock exchange. it wasn't the only company to recognize the death of the clean to that.

yeah, definitely not to daniel was not your usual a business saying as i speak, by the way there is still the union jack flying on front of the new york stock exchange by jane fraser, for example, the head of m, as city said that sir. queen elizabeth the 2nd basically i was the only queen she ever knew. we had other corporate leaders to paying their respect to bill gates, the former head of microsoft, a magick, a base saw. so bob eiger, the former m head of a walt disney's a c o r for google, mary barrow, and the head off for jenner moto says, so just to name a few. and then an apple today actually started the pre order for the new iphone 14, but if you clicked on their website, the only image you saw a was the image shelf for queen elizabeth said the 2nd in the are from the early fifties. all right, well nevertheless, business did continue to day eat on mosque. says that he's looking at opening a lithium refinery in texas just looking at so far. so what do we know?

nathaniel, it's a very interesting move for elysium. in general, of often comes from south america and also from australia, but the same as with crude oil, you have to do something with it, right? you need a refinery. so to actually use this, lithium, and most of those refineries are in china. so, and now mosque wants to bring some of those refining business to the united states . that will be actually a file tor getting the allowance to, to start the refinery, probably in texas. and if you know what he's trying to do well, this, the price is shots where the roof in the past couple of years with all the demand, especially from battery and make us just this year low. and the price of lithium increased by a good to 120 percent. so it's all about securing that supply chain, but mosque said that it was a license to print money having one of these lithium refineries. so what stopping

him from doing it already? there must being mascot, me, and he compared basically the lithium business to the huge margin that you get to want to have some successful software product on the market. i mean, 1st of all he needs some of the support from the state. so he said if he wants to build this refinery in texas at the gulf coast, he would need some tax subsidies. he also said, okay, so if he does not get that from tx of maybe he might bring the business to louisiana. but then i guess there's also a reason why all the refinery businesses in china to begin with. so it won't be easy also with the environmental group. and also with, i'm communities said to start such a big project here in the united states. so we'll see mosque when he does get that license to print money. thank you very much. in port in new york,

the european union's 5 biggest economies have said they will introduce a global minimum culprit tax next year by any means possible. even if hungry refuses to end its opposition to the finance ministers of france, german, italy, spain, and the netherlands made the joint statement at a meeting of the e u counterpart. and proc hungary halted the blocks adoption of a 50 percent minimum tax in june. his what germany's finance minister christian now had to say is, is an enormous progress or form of fairness on the international level. and it allows us to reach the financial needs of our budgets without a higher burden for our people. and as this is why we are standing ready to transpose the international minimum taxation into national law if necessary. but of crosby i

in favor far coordinated approach is in the european union, and our member states are and invited to support as e, a minimum and taxation. and now to some of the business stories you is working on banning products and imports made with force labor according to voters you lawmakers are concerned about human rights abuses in the chinese province. she jang, the current draft rules are less far reaching than proposed due to legal constraints. french national railways and austin of unveiled the new generation of high speed t g. v train at the company's level shall plant the double decker, t g v m, consumes 20 percent less energy and 97 percent of its components are recyclable. it's expected to begin service in 2024 new data shows the true scale of the damage. russia's invasion is having on the ukrainian economy. you figures from the world bank estimate the initial cost at

a $100000000000.00. and that was just on during the 1st 3 months of the conflict, housing and transport, commerce and industry were the most affected sectors. most of the destruction took place in the regions located on the front lines of the war barnett's hands, hockey and his apertures year. in addition to areas which the ukrainian army has now liberated the world bank projects a tenfold increase in poverty with a round one in 5 ukrainians expected to fall below. the poverty line report also shows it could cost nearly $350000000000.00 to rebuild ukraine. we spoke to an a piano president of europe and central asia at the world bank, asking her which sectors all projects should be prioritized for a quick recovery. first and foremost, we need to do what we've been doing, which is to continue to support the government of ukraine in their delivery of cor, essential services to the population. and here i'm talking about health education,

social taking at pensions, and also support to internally displaced. but we also need to focus on activating the economy, and that's the recovery and reconstruction part. and here we would very much like to focus immediately on helping you prepare for the winter. so this isn't showing, there's enough sources of energy for heating, but also for industry and for businesses. and thirdly, a very important part of your current economy is agriculture. and here again, a lot of efforts is being put forward to help farmers for the next planting season . but also making sure that the infrastructure and the just sticks in the countries such that there's access to market by the farmers. and finally, i can only emphasize human development more broadly. we need to make sure that the human development and the human capital of the country continues to be strong because they're going to need skills in ukraine and to be able to meet the needs of recovering reconstruction. and so here i would emphasize again education,

but also health services rushes war also has the rest of europe on edge as europeans are urged to save energy this winter to avoid shortages. for some companies that's impossible, leaving no choice but to shut down production. due relics is one of the world's most prominent glass produces, but it soon won't be producing at all. the french company says it's halting operations for 4 months this winter due to the cost of gas and electricity. jo, jose luis jacqueline asked, is no other way to save the business. li predictably, between january 2021 and january 2023, the price of electricity will have be multiplied by $22.00 and gas by 18. in these conditions are production lies. are worthless, your quote before maintained production, our energy costs could represent up to 40 percent of our turnover, which is untenable. looking at another, do,

relics needs lots of energy. it's got fired. furnace is met, glass turning it into tableware at 1400 degrees celsius. the current one to lity of energy prices is a nightmare for the company's boss. that we are filled with. the 1st thing i do when i wake up in the morning is look at the daily change in electricity and gas prices. it again, it's a family, a roller coaster, and the outlook for the future is complete and not so you jose, lucy aqona says if the crisis goes on, it would mean the debt of the industry as he knows it. and finally, cuba peso has hit its lowest value against the dollar since the 1990 s. that is, cubans are experiencing the worst economic crisis since the end of the soviet era. life is more difficult for cubans even making basic dishes this havana. coffee is now a head scratcher. the value of the cuban pestle is at

a 30 year low on the black market. the coffee owner has had to raise prices to pay for more expensive ingredients. simply while also above the price of other things will rise because the dollar rules in the shops, the u. s. dollar determines the prices cubans are trying to replace the epistles with hard currency as a survival strategy. again, after purchasing power of cuba has decreased. any one who doesn't have foreign currencies out of luck. there are shortages in the shops, basic necessities, under the products as opposed to, to monetize yakima. looked up at old. official cuban currency exchanges opened again for the 1st time in 2 years. last month. they exchanged cash at a favorable rate, but the government's attempt to stabilize the peso have field and the black market has not been swayed. i had a, we always yelling the government currency exchanges and the banks account for a tiny share of currency transactions are not here. so this rate doesn't impact the

informal market because it represents a small part of the total number of transactions. it lets you while cubans are now scrambling for foreign currency, it's becoming harder and harder to get, especially with tourism still dampened by the pandemic and trade hampered by us sanctions. little cash is flowing in. most cubans have to hold on to watts of pencil notes, which are losing value every day. and you're up to date with the d w businesses from me and the business team here. and belinda, thank you very much for watching. what's making the headlights and what's behind van d. w? news africa. the show faculty issues have been the continent. life is slowly getting back to normally where on the streets to give you enough. reports on the inside of our cars. funding is on the ground reporting from across the continent.

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ah, feel the magic discover the world around you. subscribe to d w documentary on youtube. versus did the news africa coming up on a program? queen elizabeth has died out to 70 years on the throne. how will she be remembered across africa today and i can be reached. i follow since i wasn't child. so i must say it's very sad news. she's lived a very historic.