good at what is easier and with volunteers helping along the way. people from all walks of light can compete in berlin. right? you're up to date after the break. rob waltz will be here with your business news and a look at the plunging british pound. remember, you can get all your latest news around the clock on our website, that's d w dot com. you can also follows on social media where are handle is asked you to view news. i'm here until the berlin. thanks for watching. we've got some hot tips for your bucket list. romantic corner chat. hot spot for food and some great cultural memorials to boot

d w. travel off we go. sometimes a seed is all you need to allow big ideas to grow. we're bringing environmental conservation to life with learning packs like global ideas. we will show you how climate change and environmental conservation is taking shape around the world and how we can all make a difference. knowledge grows through sharing. download it now, feel free. ah, the pound plumb it says the u. k. set the new course, new prime minister less trust and governmental flashing taxes and boosting borrowing. we'll look at the dramatic reaction from markets. i'm turning down the temperature here,

how jim and households the coping with rising heating bills. they sell it as is data over your business on robots in berlin. welcome to the program. the u. k. 's new finance minister has unleashed historic tax cuts and a huge increase in borrowing a wide ranging policy announcement to the british parliament. the measures are supposed to boost growth, but analysts say quasi quire tangs measures are a huge camp. yet the package was a tranche of economic policy hawking back to thatcher. right, and reaganomics doctrines of the 1980s high tax rates, damage britons competitive, they reduce the incentive to work to invest and to start with business, they take the additional rate of income tax. at 45 percent. it is currently higher than the headline top rate in g 7. countries like the us and italy, coatings package included capping the highest marginal tax rate at 40 percent.

lowering the basic income tax rate to 19 percent from april 2023, doubling the tax free threshold for home purchasers to $250000.00 pounds. in addition, the cap on bank as bonuses has been lifted and planned rise in corporate tax has been scrapped. quoting said the package estimated to cost 45000000000 pounds, about 50000000000 euros by 2027. would reward enterprise and work plus incentivize growth. and we said the benefits would spread to the whole economy and the entire country start to fund the cuts. plus some multi 1000000000 pounds came to subsidize energy bills. the government said it would raise its borrowing this year by around 45 percent. the announcement floored financial markets with the pound falling to a 37 year low against the dollar. labor's shadow, chancellor said it was a plan to reward the wealthy and that it would not help average wages and low

income households. with critics calling it a returned to so called trickle down economics, malice get more in this from a correspondence in the u. k. big it's ma spigot, this circuit many budget as they're calling it in the u. k. does this represent a significant change in direction for the british government? very significant, and that's exactly what les tress and had chancellor has wanted. they said they wanted to break with so called treasury orthodoxy, which, for most people means balancing the books. so the previous government had to borrow like other government enormous amounts of money in order to, to help the economy when it was flattening during the cove at times. and now the previous chancellor had announced that he was going to put up some taxes in order to pay for the public services. this government is saying, no, we want to grow the economy. and this is what we're going to do, which is we're going to cut taxes. so we want to grow the pie one to grow the

economy and this will in the end, how everybody. now we have seen that there, it has attracted a lot of criticism because the government needs to now borrow more money. enormous amounts of money, and very many people have called is a big gamble and is not just the amount of borrowing. there's raised. eyebrows is the fact that a lot of the major there been as again to benefit that the wealthiest britons at a time when in households are really struggling in britain. so how is this many budget going to go down with the british public? the government is arguing that it's all about growing the economy. then when you grow the pie overall, then this will also help everybody including the people on lower income. and they've also said that they are not about redistribution, but they are about growth. but still questions remain. if you want to basically

kick saw the economy if you want to kicks are spending. why would you give most of the money disproportionately to people who are already well off and not to the people who are being squeezed and who have to pay have to face these high energy costs? and britain is already, one of the countries are in the developed world with their, their highest gap between rich and poor. so it is being criticized particularly bankers, bonuses also are quite an unpopular in the u. k. so the government is facing a lot of backlash over this. oh and bigots. regina actually grow dramatic reaction on the markets in the u. k. and also from the pound in response to this, what exactly is been going on? exactly, the pound has really fallen, plunged down to record lows against the dollar. and at the same time it's more,

it's more expensive now also for the government to borrow on international market. so that reflects an uncertainty of the market. whether this is really the right strategy and we had the nobel prize winning economist for crew, man and, and, and he has said that britain is now trading like a developing country. where perceive fiscal responses, irresponsibility is undermining confidence and the value of the currency. so that reflects one of the critics of this really very, very bald strategy of the u. k. government. ok, barry at mass in london for us. thank you very much. now to some of the other global business stories making the news. singapore has passed hong kong to become a his most important financial hub. that's according to the g, f. c. i index ranking world financial centers on commerce ranking fell to to china, increasing the authoritarian rule and drastic lockdown measures globally,

new york and london top the index with singapore. placing 3rd boeing will pay $200000000.00, making misleading public statements following airplane crashes. in 20182019 e securities and exchange commission says boeing, new of ongoing safety issues after the 1st crash in indonesia, but kept them from investors insisting the 737 max jets was safe to fly. now a miserable friday has talked a tough week on u. s. market so week that saw the fed high interest rates by 75 basis points. let's cross over to our financial corresponding to new york. he ends quarter and get a bit more on this ends. the s and p $500.00 is as low as point for a year. during the course of friday. i mean, what's eating investors in the moment and the johns industrial leverage dropped through the crucial 30000 point mark the nasty composite to last

more than 5 percent of the value in the course of the week. i mean, clearly it's all about inflation. how the federal reserve and other central banks around the globe fight it so that this might eventually lead to a global recession. so that's pretty much the mixture that we're seeing at the moment. and it's not just stocks that have been down here on a friday. and during the week, oil prices, for example, in new york had dropped more than 7 percent for the week dropping under $80.00 per barrel. and to one of the reasons why all is dropping and similar to stock sold this, this fear of a potential recession that could cause less demand for oil, at least at this point, is pushing that price lower. but, well, i mean, talking about a lower energy price, this might be a good thing for a change. and young just briefly, degree was boring. that's for the market to leave christmas might be council this year and a santa claus riley. what do they mean?

i mean it's santa claus really usually is the last 5 trading days of the year and the 1st trading day, the 1st 2 trading days of the new year. but in a year as we've seen it right. or if you see it right now. so in the mac market has been down so much, it is unlikely that we will see the santa claus really. and what happens on wall street does not stay on wall speed. meaning, if we see pressure toward the end here in the united states, the same probably will also be true for financial markets across the globe. ok, again, go to new york for us. thank you very much. now jim and houses are gearing up for an expensive winter with energy prices many times while they were a year ago. germans are looking for ways to keep the bills down and yet stay comfortable in dakota months. either we use multi audi schmidt reports. i'm facing 3 problems. i'm using natural gas for heat to boil water. and for cooking.

last year i've spent about 1500 years on natural gas. this year, 3000 euros and it's getting even worse. my family is part of germany's middle class . we make around $4000.00 euros a month after texas, but ever since prizes started to go up, i'm wondering how much longer we will be able to manage. i live in berlin. i'm not want to splurge on spontaneous purchases because i am aware of rising energy costs . russia has stopped gas deliveries to germany almost entirely. prices have gone up 80 percent and more to protect gas and porters from sudden bankruptcies. gas customers will have to pay a levy starting in october,

an additional $3.03 per kilowatt hour, including texas. now this levy will hit disproportionately that half of the german population that heat their homes are natural gas. to sort of make this section the population responsible for this seems a bit unfair that should be spread over the entire population. thomas o'donnell, worries about recent gas price trends. even if storage is full. ah, that will last only about 2 and a half months in the heating season. so end of december, sometime if there's depends on how cold is we could use it a very fast, then you can have a situation where there's simply not enough. you can import as much energy as used to come through the pipelines for russia. so. ready it's going to be rationing. the big question is, what's the low temperature we can stand in the winter time. it's obvious. the

cooler the room temperature, the bigger the savings. my wife has found another way to save around 20 euros per month. we have to switch to natalie again and again. it's not one in 9 months. i don't feel poor, but it's frustrating because nobody knows when the crisis would come to an end. that's over main. the business, steam hand, berlin from old. you had over to the d t o e news youtube channel. you can actually check out our latest data we business. special asking is europe d industrialized by ah, what's making the headlights and what's behind them? dw news africa. they show that faculty issues in the continent. life is slowly getting back to normal year on the streets to give you enough reports on the inside

of our cars. funds is on the ground reporting from across the continent, all the trend stuff, the mazda to you next to on d w. and then like views on with a free cruise, eat the bikes, 1000000. that's the tile the sustainable with. and then what one does on the streets of africa. let's take a closer read 60 minutes on d w. oh. how did she become adult hitler's favorite director. and how did he

become a forgotten filled pioneer? ah, leaning, he finished and unknown to fund between hitler and hollywood. in 1932, they sent out into the icy wilderness of greenland to create a life threatening a film project that became a major milestone in their lives. love, seduction. i school starts october 8th on d, w. this is deed of lini as africa, coming up on the program, the world health organization says africans are living longer. but how is this happening? one factor is advancements in tech. they're helping to improve critical health services for women. in cameroon, we take a look at one innovation and here from it's develop a.