will take a peek into the future and ride the rails with a clean running train powered by hydrogen. and italy frets of a rising gas prices and not just because of the cost of heating. we'll look at the sticky debate surrounding pasta blown. welcome to the show. i'm seen beardsley in berlin could have you with us. the german government is vowing rapid cash assistance for small and mid sized companies facing massive energy bills this winter. the german economy minister meeting today with industry groups from across the country. they've been pressuring berlin for help, as energy prices sore to record heights, leaving them unable to pass cost along to consumers. some firms are already lowering production industry leaders are meanwhile warning of growing insolvency. s o economists are now projecting a winter recession for germany, saying the economy will likely contract in 2023. recent figures are already drawing

and increasingly grim outlook. take a look. new data confirming an annual inflation rate of almost 8 percent for august . a higher price is cut into purchasing power, making it difficult for consumers to afford the same things this year that they could a year prior. now, behind that, inflation is soaring, energy cost led, in particular by natural gas. the european benchmark is now 3 quarters more expensive than it was this time last year. russia's war on ukraine and europe's response is largely responsible for that trends. another worrying figure is the growing number of insolvency in germany or the number of companies that cannot cover their own debts or liabilities. and that figure rose 6.6 percent in july from the prior month. and those are the let, the, the freshest figures that we have, i should say, a take a listen to the words of economists. katerina went aboard, i asked her what kind of winter german businesses we're about to face. i think this winter we will be the gemini,

me slipping into recession. this is inevitable. inflation is just to highest that consumers and will close that persus and not spend during the winter. and money will have to be kept and would have to pay energy and bills. this is a main concern of course. and then we also see industry shutting down production given the sky high energy prices. so this is gonna be a shot recession at the turn of the year, and next he is going to be a muted recovery because the damocles weren't of the gas supply. get this not going to go away any time soon. to what extent can government aid really help? here we've course. think about what happened during the coven recession, a very sharp fall off in all kinds of economic output. this is obviously different . can government help bridge the gap when we're talking about resources like natural gas, expensive energy, things like that? well, it just failed. the burden on governments is probably even greater than doing cove it. and i think on the one end, they have to really insure, for instance,

that and supply of energy and can be increased about finding new, a tentative suppliers. and in order to cover the russian gas supply, get em at the same time. they also need to implement vendors to shield the private sector from the sky high energy prices and here, and it's not just about a corporate this time, and i think the focus will be also much more on households. so in addition to, let's say, the traditional cobit instruments that we have seen like state guaranteed loans, am and a fellow for instance. and i think more focus will also be have to be put on households that really will and face a tough time to pay the energy pills and, and we need to see more action to not just avoid corporate insolvency this time, but also household influences so much talk about this coming winter. what can we expect in the long term?

you mentioned next winter for example, how long will we face this kind of economic challenge due to these energy crisis? so i believe that the risk of forced rationing and for this winter has decreased pretty low levels. and this is mostly due to storage facilities filling out sooner than expected. so this will help us get through this winter, but then we will have a gas supply get and next here, unless we really mobilize a ton of to suppliers. and therefore, and because this is an uncertain, mitzi adventure and my big energy prices to remain high. also next year, and therefore this will weigh on economic activity and book posts and one of the key headwinds to the recovery. and even in the 2nd half of next year. on top of that, we also have the normalization drive of the e. c. p a which will oppose an additional headwind and not to forget and lingering to political uncertainty. we're not going to go back to the situation as we had in

that say, 2021 or even 2019. and with regards to global and uncertainty, and that of course is an additional headwind for an export based an economy such as jenny paul roy, katerina with remote senior economist at all at allianz. thank you very much. thank you. those rising energy prices are giving new impetus to the build out of renewables. hydrogen in particular is seen as a promising alternative to fuels, provided that a network of producers, distributors, and end users develops into maturity. or that could take a while, but much of the work is already underway to day, including among some rail companies. take a look. the r b 31 regional train arrives in prim a further, a small town in northern germany. the train runs on hydrogen. a fuel cell on the

rooftop and an electric engine make the wheels turn. the environmentally friendly train replaces diesel or commodus passengers on board. don't see any disadvantages. this train is driving very smoothly through the landscape of diesel train. on the other hand, what make noise and what state a train like this would need 800 liters of diesel a day of hydrogen is better. one downer, the hydrogen used comes from a nearby chemical plant and is still produced with fossil energy. so it is not c o 2 neutral, but that will soon change dot to we're currently planning to build an electrolysis plant at the service station and them. a further electrolysis plant will be powered by wind or solar energy, which are this will enable as to produce green hydrogen on site. the train will

then be c o 2 neutral nor tire foreign colonel. the train from french manufacturer i'll storm was developed by german engineers. the hydrogen train is a truly international product. the cars come from poland, the fuel cells, a manufactured in canada. it's the world's 1st hydrogen train to be mass produced or by europe is certainly the driving force because this is where the technology is most widespread. and the legal framework is the best. we expect inquiries from all over the world, followed as tom's competitor. siemens is sending the mirror your plus age into the race and is cooperating with thought shavon. however, the seamans train is still making its rounds on a test track. and its 1st public test run was a success. but the 1st siemens trains won't be used on regional lines for at least

2 years. there's still a long way to go before railroads are diesel free. and pipe, however, declared war on the $3000.00 diesel locomotives, which we would like to sideline in the interest of the climate by 2040 at the latest, which is when we asked why javan also want to be completely climate neutral, mano toddle whether hydrogen trains will replace diesel locomotives depends on if there's enough inexpensive, green hydrogen available plus hydrogen trains will have to continue proving themselves out on the tracks of coon, out of some of the other global business stories making headlines you case. unemployment has fallen to a record low dropping to 3.6 percent in july. more british workers left the labor market in the 3 months leading to june, potentially adding to the countries inflation woes. indian conglomerate vedanta, anti once fox con, have signed an agreement to invest nearly $20000000000.00 in the construction of

a semiconductor factory. in india. the indian government says it will subsidize the project with incentives that include cheaper energy. the venture is expected to create up to 100000 jobs. a majority of twitter shell shareholders have voted in favor of the company's $44000000000.00 sale to ellen musk accepting an offer that's a 3rd higher than the current stock for value mosque. however, still maintains he won't go ahead with the acquisition, arguing he was misled over spam accounts. heating costs may be the big discussion in many european households this winter. but for italian households and restaurants, soaring gas prices are also opposed to the gut. a debate is now raging about more energy efficient ways to cook pasta. and as left some cooks fired up. most italians will tell you that cooking passed out without a burning flame is a no no. but with energy costs going through the roof. a growing minority argue

that once the boiling temperature is reached past i can be cooked with a stove flame turned off. this summer tino restaurant in rome has been in the same family for almost 100 years. the owners are also concerned about rising energy costs. minimum, 40 down, up on them. we were just coming out of the pandemic army that really knocked us out . and finally, now that we are working again and making some profit without or suffering because of the increases in our gas and energy bills, bengal, ami saudi. we listen, creating a lot of problems for our business because we're trying not to raise prices running . but i'm not sure how long i can reserve yoni. but she doesn't think that saving on guess is a viable solution. her restaurant proudly displaced evidence of world famous dinah's hoof praised the food and her customers one pasta, alden, tay, which means firm to the bite and not over cooked. she's not alone in her strict

adherence to the laws of passive. hello, jeff was not in tampa. is that donna blaze said hello, stay so i'm no the result. can't you the same because without flame, we're only softening the pastime. we're not cooking it in any ela, didn't backdoor, alabaster boiling water is necessary to keep the cooking at pasta at a constant temperature. if we turn off the heat, we give the starch is the chance to get out from the pasta. and she had a pasta will become much heavier to digest allowable. the leading italian pastor produces association estimated that turning off the flame early could half the gas used. but traditionalists have their own energy saving tips, useless water, and keep the lid on the porch while you bring the water to a boil. or it is a reminder of our top business story. the german government is vowing more

assistance for small and mid sized companies facing massive energy bills. this winter, the country's economy minister meeting today with industry groups from across the country. they've been pressuring berlin for help, as energy prices soar to record highs. and that's it for me and the dw business team, as always you can find out more about these and other stories online. g, w dot com slash business. check us out on youtube as well. we're under the d w news channels. i'm from beardsley watching. ah ah, with

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