and some, 2 and a half 1000000 people are under evacuation orders. the government has prepared huge amounts of fuel, water meals and emergency personnel to try and mitigate what looks likely to be a full blown disaster. that's it. you're up to date. more world news at the top of be our statement bisley has your business updates in just a moment, looking at the impact of the surgeon dollar. i'm good with sometimes books are more exciting than real life. raring to read. oh. what if there's no escape? do w literature list laundry,

german ma street. no man has no limits. i love is for every body. love is live. i love matters and that's my new podcast. i'm evelyn sharma. and i really think we need to talk about all the topics that more divides and deny that this i have invited many deer and well known guests. and i would like to invite you to an end ah, growing evidence of a deliberate act after leaks turn up into gas pipelines in the baltic sea. what does that mean for years gas supply and it's critical infrastructure as it enters what's expected to be a difficult winter. also on our show, we'll look at how searching us dollar is putting pressure on other currencies

around the world. and of pakistan have suffered mightily from recent floods. now, another painful chapter could just be beginning as production falls across farm lands, threatening the food supply. hello, welcome to the show. i'm from beardsley in berlin. european leaders expressed concern of a growing evidence that a pair of gas pipelines between russia and europe were deliberately damage in the baltic c. u commission president ursula vonda lion saying member states would investigate the incidence of several other european leaders called the damage to the north stream. one and north stream 2 pipelines, deliberate or even sabotage. european gas prices climbed on the news. neither pipeline was in use, but both could now be out of commission for the winter. right from on this, i'm joined by my colleague cassandra son here in studio. because you've been following those. we've seen a lot of strong comments from european leaders. what exactly are they saying about

this? the comments are strong and they've been getting stronger over the course of the day. the swedish prime minister has called this sabotaged using that word explicitly. the danish prime minister is using words like deliberate actions with denmark's foreign minister headed to brussels to talk to the head of nato. about these leaks, the polish prime minister has been even more explicit saying that this is sabotage and directly pointing to russia as possible perpetrators. the ukrainians ratcheting up the language a bit more, a point to russia and called and quote, an act of aggression towards the you. meanwhile, the kremlin a comic books. i said he was extremely concerned about the incident because it affects the quote, the energy security of the entire continent and added that the possibility of a deliberate, deliberate attacked cat cannot be rolled out. neither of these pipelines, delivering gas for what we understand. and it appears that now they're not going to be able to for this winter, which as i just sort of expect it to be a very difficult one in terms of supply. does this have any bearing on supply? if these are out of commission, so this crumbling quote to me this quote,

kremlin spoken quote me, it was quite interesting because this idea, the effects energy security of the entire continent is something that the a german economy ministry has tried to pivot away from. they've said we don't see any impact on the security of the energy supply. so 2 different views on that right now. so. so in the short term, as you mentioned, nordstrom one was shut down slowly, kind of choked off by the russians. over the course of the year wasn't delivering any gas. nordstrom to never opened, that was an e, german response to the russian invasion of ukraine. but one thing that might just be a really a bit of shot in florida not shot for it. a really a pain point is it was filled with a 177000000 cubic meters of gas. it's now just literally evaporating into thin air . so in the short term, they weren't delivering any gas to europe, so much of an attack there, but the longer term, something that's kind of interesting right now is there, there appears have been 2 explosions in the hours around the leaks 1st being

spotted. if the damage was great enough, this could have damaged the pipelines through the winter, and we won't know when they'll be back on line or mccully, cassandra son here in studio. thank you very much. questions of a gas supply are putting incredible pressure on industries across europe and in germany, in particular, electricity prices are up tenfold since last year. and some plants are already shuddering production that's threatening a ripple effect on workers and communities. the production of liquid aluminum has a long tradition in german industry. this process is called few salt, electrolysis and consumes a lot of electricity. one ton of aluminum requires 15000 kilowatt hours based on electricity prices this summer. that means around 6000 euros. the company can sell the aluminum for round 2000 euros. so what are they going to do? think of, i think there'll be declines and production. we're already seeing that i very much

hope we can avoid industry coming to a standstill on a large scale. with over 2000 years of history, noises, one of germany's oldest cities today, it's a prosperous industrial city and is particularly affected by the energy crisis. there are 3 large aluminum plants around the city, one of which is already harvard. its production. fear is sweeping the region perhaps, rightly so. as not, i mean is that in a situation like this winter where we have a shortage of resources, it makes no sense to keep energy intensive industries artificially and production loss in quite simply because energy is extremely scarce. yes, we, therefore, it makes sense to do without energy intensive production right now, because the energy is needed more urgently elsewhere in the loop. so shut down everything in the winter for the aluminum industry, this is absurd. the process is expensive and complicated. they want help from the state. the mine is on the one hand, i think we urgently need a europe wide,

industrial electricity price fuel and that would stabilize the situation for our industry. this is of anatomy, but of course that's not something you can develop and roll out within a couple of weeks. so it's not going to work unless there's emergency aid on the ski in iceland. of thought, if there's a distribution problem, households, transport and service providers also need energy and within the industry itself, there are different needs these sectors, you 3 quarters of all, industrial electricity, they're in danger. and unions are worried by job losses. in the, in ag, he intensive within the energy intensive industries. we're talking about 800000 of jobs in germany. that's an asset we can use to our advantage, especially when it comes to politics. the government tough to decide to give emergency aid to keep the energy intensive industry than business, or help employees find new jobs that could prove expensive for german taxpayers.

let's take a look now. some of the other global business stories making headlines. the international monetary fund has criticized the u. k. tax cutting economic plans, saying such large and uncharted fiscal packages will likely increase in quality the i m. f. also warning the measures could undermine the bank of england interest rate policy. since the package was announced, you case finance minister has pledged measured measures to cut debt in november the british pound has recovered slightly after hitting historic lows against the dollar a fall that came as investors reacted to those mentioned economic measures that the pound currently buys around $1.07, and it's still lower than where it was a week ago. surging strength of the u. s. dollar has also added pressure to the currency. or let's go over teddy austro in new york. teddy, it's not just the pound. also the yen and the euro under pressure from that us dollar. can we expect it to maintain the strengthening course for the near term?

no, to answer that question, we may also have to ask when the federal reserve of the united states is going to stop hiking the interest rates here, which is definitely a major contributor to the surging dollar. now, why is that the case? well, hiking these interest rates does seem to cause some instability in world economies . now combined, that with the supply supply chain crises of the pandemic, and of course the energy crisis in europe. and there is a high demand for buying up a lot of dollars of 1st stability for security, the dollars of course, the world reserve. now. so that means that as long as these rates continue to hike, as long as we see these crises, essentially, world instability, we perhaps are going to continue to see the surge in the dollar. strong dollar sounds good if you're an american, but what does it really mean for businesses and investors there?

no, all there is a simplistic view. a surging dollar must be great for americans, and perhaps that's true if you're an american tourist and if you're an importer, if you're an american business, that imports product spot purchases products abroad. yes, the strong dollar means that what you purchase purchase is going to be cheaper, but that isn't really the entire story. there are lot of american companies that are exporters that have international operations and of course, experience the opposite of fact are when a countries outside of the us park have to buy things and they are expensive. we may see decline and revenues and that that, of course hurt the companies and hurt the investors that are close to the austro, they're in new york. thank you. over to asia now where the impacts of a changing climate are becoming more and more palpable in pakistan. for example, the floods that recently ravaged the country were bad enough or then 1500 people are estimated to have been killed. the government, meanwhile,

estimates losses of around $30000000000.00. now another danger may be looming, hunger flood damage has hit wide swaths of agricultural land critical for the country's food supplies. wheat for example, is a major crop in the province of send. one of the most affected regions. the trains on to running any more after the flat damaged infrastructure. here, it's devastating, not just for travelers, but also for the many porters who worked the line stations that been jobless. as the rain submerged large parts of pakistan. my conduct could i get it now? will i pay rent? somehow? i saved my family from the flood that brought them from my village to karachi, thinking i would earn money and support my family. but i haven't been able to earn anything because trains aren't running planning bundari, i began the deadly flood submerged. a 3rd of pakistan. farmers in affected regions don't know how they will feed their livestock. but he loves you

what you say. yeah, god got probably yet this grasses rotten because of the floods it has turned black . it can't be fed to the livestock. that means that the animals will starve and die as a result of what i got all my guy. yellow. around 700000 head of cattle drown during the floods alone, according to official estimates, the livelihood of many here wiped out. it's a catastrophe. many are trying to sell their surviving livestock at the market, but no one is buying because there's no feed or the little there is now too expensive. rewarded monga result of that is that here we have been destroyed by the floods on our animals, our dying corner monarch. no one is bind them on. it were helpless. i'm sorry. we appeal to the government to buy these animals from us and we have nothing to eat as

are ready. how are we going to feed our animals, our corner? i've got all my luggage out. her people are desperate. the facts of the disaster will be felt for years. pakistan not only needs billions to rebuild. it also needs hope and that's our show to check us out online for more of these stories and others d, w dot com slash business. we're also on youtube under the dw news channel. i'm seeing beardsley watching. patriotism on the right. how does the nation define itself? a question or from austin, the former soviet faith. the war in ukraine has given me some new urgency, a report questions? what's behind the vassal over national identity?

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