and no more could i write my french revolution book nowadays. the woman considered one of the greatest english language right. does on the century while died peacefully at her home, surrounded by family and friends, to ride, you're up to date. but to stick around after the break, rob wants will be here with all your latest business news and a closer look at the plunging british pound. and remember, you can always get all the latest news around the clock on our website that student dot com. you can also follow social media handle as at the to be news. i learned children. berlin, thanks for watching. sh her again that i think that tags and in the end is a me, you are not allowed to see you anymore. we will send you back. are you familiar with this with the smudges were lions as of the what's your story.

ready he wasn't, i was women, especially a victims of violence. 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 ah, the pound plumb, it says the u. k. sets in new course, new prime minister less trust and governmental slashing taxes and boosting borrowing. we'll look at the dramatic reaction from markets. i'm turning down the temperature. hey, how jim households. okay,

thing with rising heating bills. they sorta as the state of a business armor of what's in berlin. welcome to the program. the u. k is 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 gross, but analysts say quasi quire tangs measures are a huge gap. the package was a tranche of economic policy hawking back to fetch right. and reaganomics doctrines of the 1980s high tax rates, damage britons competitive, they reduce the incentive to work to invest and to start a 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 u. s. 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 purchases 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. we said the benefits would spread to the whole economy and the entire country, but we stamped 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 flawed 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. malesky more on 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 to 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 was raised. eyebrows is the fact that a lot of the major there been as again to benefit the wealthiest britons at a time when and households are really struggling in britain. so how is this mini 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

kicks are the economy. if you want to kicks out 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 bank as bonuses also are, are quite unpopular in the u. k. so the government is facing a lot of backlash over this. o 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 has 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, poor crew man. and, and, and he has said that britain is now trading like a developing country where to see fiscal year funds that 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, big mass in london forest. thank you very much. now to some of the other global business stories making the news. singapore has passed hong kong to become asia's most important financial hub. 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 year 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 and and the doc jones duster leverage dropped through the crucial 30000 point mark enough to accomplish it 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 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. it might be a good thing for a change and young just briefly, the degree warning that the market to leave christmas might be council this year and a santa claus riley. what do they mean?

yeah, i mean it's, that was really usually is the last 5 trading days of the year and the 1st trading that the 1st 2 trading days of the new year. but in a year as we've seen it right. or as you see 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 street. meaning, if we see pressure towards the end here in the united states, the same probably would 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 what they were a year ago. germans are looking for ways to keep the bills down and yet stay comfortable in dakota. months, do you, do 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 $1500.00 euros on natural gas this year, 3000 euros, and it's getting even worse. my family, as part of germany's middle class, we make around $4000.00 euros a month after taxes. 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 one to splurge own spontaneous per chases 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 southern 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 and natural gas to sort of make this section of the population responsible for this seems a bit unfair. that should be spread over the entire population. thomas o'donnell warriors, about recent gas price trends. even a 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're going to have a situation where there's simply not enough. you can't import as much energy as used to come through the pipelines for russia. so 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 miss mcgathen again. is that one in my money? i don't feel poor, but it's frustrating because nobody knows when this crisis would come to an end that's over main. the business, same hen, valenze commodity had over to the des youtube channel. you can actually check out our latest data we have business. special asking is europe d industrialized goodbye with to the point? strong opinions, clear positions, international perspectives. russia a sending more soldiers to the front, threatens to use nuclear weapons. emp repairs the annexation or full mold provinces of ukraine. what can the west do send more attractive?

will that stop the escalation? that's what we will discuss on to the, to the point. next on d, w, leaving islamic state, leonor as life back in germany. she seemed to be a normal teenager, but at 15 leonora disappeared to join the islamic state in syria. for 6 years, her father fought for his daughter's life until she finally came home, a story about guilt. and 2nd chance in 45 minutes on d, w. ah, how did she become an adult? hitler's favorite director. and how did he become a forgotten filled pioneer?

ah lady, he finished it and the unknown 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 and awe ice cold passion starts october 8th on d. w. rushes. further escalated it's war in ukraine. moscow is mobilizing $300000.00 additional soldiers and talks about using quote, all military means including the use of nuclear weapons. also, moscow is orchestrating for so called referendums to annex for ukrainian.