blue queen elizabeth the 2nd will be remembered as a friend of gemini. that's all the news on the death, the queen for now. but stay around cuz coming up next is business with daniel winter . of course you always get the latest of everything going on in the world at t. w dot com and on instagram and twitter at d. w. news will have more for you at the top of the hour. lame woodcraft? thanks for watching. ah sh her. i'm scared that i want that tags and in the end the some me, you are not a lot us to you anymore. we will send you back. are you familiar with this? with the smudges were lions as of the. what's your story?

with numbers, women, especially, and victims of vine and seen a lot of them take part and send us your story. we are trying always to understand this new culture. so you are not a visitor, not the guests. you want to become a citizen. in phil migrants, your platform for reliable information mm hm. ah, wall street stood still for just a moment today to honor queen elizabeth the 2nd for the minute have signed them from the new york stock exchange. will find out more my corresponding as european finance ministers meet in prague to discuss energy prices. we look at one struggling business glass maker now paying 20 times. it's normal gas. also coming

up cubic currency hit a 30 year. lo will look at how already struggling cubans are coping the worst in the comp time, again, the w business. welcome tributes, marking at the death of queen elizabeth hath 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 on 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 them.

yeah, definitely not the daniel was not your usual business day. and as i speak, by the way, there is still the a union jack flying on front of the new york stock exchange by jane fraser. for example, the head of a city said that 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 magicks, a bay so. so bob eiger the former m head of a walt disney's a c o for google. mary barrow and the head of general motors says, so just to name a few and then an epl today actually started the pre order for the new i phone 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

that, daniel? 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 a crude oil, you have to do something, was that right? you need a refinery. so to actually use this, lithium, and most of those refineries are in china. so and now ill on mosque wants to bring some of those refining business, said to the united states. and so he actually a file for of getting the allowance to that to start the refinery, probably in texas. and if you look what he's trying to do, well, lithium prices are shots were the roof, and the past couple of years was all this demand, especially from a battery and makers just this year, a low and the price of elysium increased by a good 220 percent says all about securing that supply chain, but musk said that it was a license to print money having $1.00 of these lithium refineries. so what's

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

the european union's 5 biggest economies of said they will introduce a global minimum corporate tax next year by any means possible. even if hungry refuses to end its opposition to the move. finance ministers of france, germany, italy, spain and the netherlands made the joint statement at a meeting of their e you counterparts. and proc hungary halted the blocks adoption of a 50 percent. minimum tax in june is what germany's finance minister christian now had to say is, is an enormous progress of form or 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 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 that he was working on banning products and imports made with forced 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. v train at the company's level shall plat the double decker, t v 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, new 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 where the most affected sectors. most of the destruction took place in the regions located on the front lines of the war. dawn asked to hans khaki and surprises 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. the report also shows it could cost nearly $350000000000.00 to rebuild ukraine. we spoke to an a be under the president of europe and central asia, 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 pension, and also support to internally displaced. but we also need to focusing 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 couldn't 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 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 to be able to meet the needs of recovery and reconstruction. and so here i would emphasize again education,

but also help 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. dry lakes is one of the world's most prominent glass producers, 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. with, in these conditions, our production lies are worthless, your coldly for maintain production, our energy cost, you could represent up to 40 percent of our turnover, which is untenable. looking at another, do,

relics needs lots of energy. it's gas fired furnaces met glass turning it into tableware at $1400.00 degrees celsius. the current one to lety 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 we are look for the future is complete and not so you will hold the lucy o'connor 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 at this havana. cafe is now a head scratcher, the value of the cuban pencil. is it

a 30 year low on the black market? the cafe owner has had to raise prices to pay for more expensive ingredients. every want to so above the price of other things will rise because the dollar rules in the shops, the u. s. dollar determines the prices are the cubans are trying to replace the apostles with hard currency as a survival strategy. again at purchasing power of cubans as decreased. any one who doesn't have foreign currencies out of luck, or shortage is in the shops, basic necessities, under the products that amount of us 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 favourable rate, but the government's attempt to stabilize the peso have failed, 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 so that i'm not sure. so this rate doesn't

impact lymphoma 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 in belinda. thank you very much for watching to the point a strong opinions, clear positions, international perspective. russia's war on ukraine maybe stalling, but that didn't stop vladimir proteins from staging. a massive military drill with some help from his friends brushes, war games with china and india. the star as

a global arms race, find out on to the point with next on d. w. departure 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 and adventure full of hardships, dangers and death. magellan journey around the world. in 45 minutes on d. w. o. a ended glistening place of morning. the mediterranean sea. it's waters connect people of many cultures

seen of almost rock enter far abdul karim drift along with exploring modern lifestyles and that it to rain where it has history left its traces. meeting people hearing their dreams mediterranean. during this week, d, w rushes more on ukraine may be stalling, but that didn't stop. vladimir putin from staging a massive military drill with some help from his friends. the week long exercise at 7 locations on land and sea involved 50000 troops. russians, side by side with forces from china, india and countries still further afield. the 2 asian jaya.