cindy is almost similar charges risk to be given simila sentences like she has a received privilege most from here that fits your up to date more world news at the top of the our coming up next here on the w, steven beardsley has your business updates and of course, you can find out more around the clock on the w dot com or on the d. w app. with every journey is full of surprises. we've gone all out. you've used them 11 day in the, in the foot of the rigby home. i'm in your northern most count to play

with free time one very much a line d w channel. your guy to the special with recognizes where exactly it was fun. i learned a lot of our culture history. all their d. w. travel extremely worth a visit. ah ah, for land bite the bullet and announces a cap on gas prices to the tune of 200000000000 euros for kansas new measures help german households and businesses get through a difficult winter. all signs point to recession. also on our show

portion, big de butte does not disappoint. we'll look at how high share prices, how high share price is raised for the companies in hands. volkswagen response to brazilian prosecutors in their investigation of a legit slave labor at a former cattle ranch in the amazon hello, and welcome to the show. i'm steven busy in berlin. we apologize for those technical issues at the beginning. the german government has responded to growing pressure over rising energy cost with a $200000000000.00 euro plan to cap gas prices until 2024. chancellor,

olaf sholtes said a commission of experts will determine the exact price. ceiling is government is now throwing out its heavily criticized planned attacks gas customers per kilowatt hour. berlin has struggled to find the right way to distribute the hire market costs faced by gas utilities. without overwhelming gas consumers. energy costs have driven german inflation in september to 10 percent. that's according to a preliminary reading. all right, my colleague, cassandra sant joins me now in studio for more. cassandra, there's been a lot of concern about high energy prices trip, but high gas prices recent months. what does this new plan do for us? the thing, the 2nd for me is steven, was that this 200000000000 year old package is being funded by the same economic stabilizing fund that berlin used during the crone of ours pandemic, and the global financial crisis. so that was a big headline for me in terms of how seriously the german monet, big money, and

a big powerful tool used to fund it. but what the plan means concretely, there's some details in here that are interesting in terms of diversifying energy use to nuclear power plants or their usage is going to be extended through the next next spring, spring 2023. there's also an investment for liquefied natural gas terminals and more investment in renewable energy. and the sales tax for gas sales is going to be reduced. but the thing here that we, that average every day germans are going to be looking at is this cap. the cap right now is still an idea. there's gonna be an expert panel that's going to be talking about what's appropriate here. the tough line they're gonna have to walk is how high do you put it so that it discourages use, but still low enough to make sure that average everyday people can pay their bills or what's the pain threshold? in other words, i guess this means that this doesn't completely take consumers and businesses off the hook for prices. no, it doesn't. there's going to be a ceiling that's going to be lower than the actual market costs. and that difference is going to be paid by the german government, but where it is funding for the german government come from,

from taxpayers like all of us. so it kind of spreads the pain out a little bit. so to stay for gas users. now it's pretty much over exactly. so right now this cap is still a twinkle in someone's eye. we're still trying to figure out what that's gonna be. and the hard part here is figuring out how do we keep demand to low, even if this winter is a potentially a very, very cold one of this obviously would have something to do with inflation. i would imagine as well we're, we're seeing obviously this is this reading 10 percent inflation annually for september with bring it down. i imagine the government helps. yes. so the german finance minister, christian lindner said that these steps would act as a break on inflation, which like you said, hit its highest level in more than a quarter of a century in september. so there's hope that this will slow or lower inflation and thus slow or lower energy inflation, because germany is europe's biggest economy and it's really reliant on industry. and a lot of those industries are really energy reliant. so if you can lower exactly,

if you can slow or lower those costs, there's hope that the inflation as a whole will slower be lowered as well. what's going to be critical, like i said, is, and what no one can predict is what kind of winter we can expect in 2022 into 2023 . i guess we'll find out in the weeks ahead. i cassandra sun, my colleague here in studio, thank you very much and we'll take a look now some of the other global business stories making headlines. the e u has announced the legal framework for a price cap on russian oil as part of its 8th round of sanctions against russia. commission president or sullivan de lion seeing the cap is aimed at reducing rushes, revenues, keeping energy markets stable. the u. s. department of justice says the victims of bernie made offs. fraudulent investment scheme will receive a further $372000000.00 to help cover their losses. the decision comes nearly 40 years after the capture of made off ran a multi $1000000000.00 investment fraud scheme. through his securities business,

luxury sports car maker. portia raced on to the frankfurt stock exchange thursday with one of your biggest listings in years, leveraging its brand power to divide global market turmoil of portia shares treated as high as 86 years and 54 cents. and i reached evaluation of 75000000000 euros racing on to the trading floor. germany's iconic sports car maker porsha has made its market debut on the frankfurt stock exchange. it's germany's biggest i p o, in decades, auto gabriel, and saves another day. one of our biggest dreams has come true. the port portia is going public again. if you are adding a new chapter to pushes unique history, a historic moment for portia men a great day, a proud day for all of us. and so it's our talk. your other, the initial public offering comes at

a time when markets are in turmoil due to surging inflation and recession worries. despite that volkswagen made over 9000000000 euros from the sale of portia shares to be invested in future plans. fortunately i had to do that with me. with these additional funds, volkswagen will get more financial flexibility for transformation towards digitalization and e mobility. our strategy has even greater tailwind. now everyone will come out stronger and we're excited. shortly after trade has got the green light pushes share started rising. that historic i p o values portia at a whopping 75000000000 euros. it's almost as much as its former parent company. folks, fog. and the company known for its fast cars is already speeding ahead. of course, by the us or touch pound, they sent us this from the frankfurt stock exchange. a big question in the run up to this idea was that why now, why is folks looking to bring back boy should do the public markets at the time and

financial markets are struggling very, calling me on the brink of recession, inflation is storing and centered banks are looking to raise interest rates aggressively. it was definitely a bold move. folks of organ was banking on the lead. you know, fans for these cars, for decades. got into the us, have actually swear by this car company, the car brand. and that's exactly what the folks bargain was banking on. and after the ip your, it's that vindicated because it did raise $9000000000.00, valuing the company at above $75000000000.00, almost at bar with the folks who are going to sell, which has so many other brands under its umbrella. now that $9000000000.00 is very useful for folks vargas which is looking to make a very expensive transition to electric vehicles. and what does this mean for the pores and peach family when it gets them some control over the partial?

brad once again or corresponding ashatash funded their over to brazil. lawyers for volkswagen presented their 1st official response to an investigation by local prosecutors and to the abuse of working conditions including a legit slave labor on a v w prop property in the 1980s. the meeting and sal paulo came 3 months after prosecutors presented a 90 page investigation to a former volkswagen one cattle farms and the amazon faces. former workers there recount feedings, rapes and force labor from beat of you. hired managers. elected abuses occurred during brazil's military dictatorship of the question is, what will be the position of force about in this case, the federal prosecutors opened this case in may this year, and they had a 1st meeting with fords back in june. and now flexible had to deliver, had to send the official statement to the federal prosecutors until tuesday this

week. but folks logan did not do this, they, they refused to make a position and to show their way of thinking. and this is really disappointing. the federal prosecutors at this moment and they're really unhappy with the behavior of a forks like in this case. what exactly is volkswagens a legit role in this affair? according to investigators. yeah, folks like ahead of farm in the seventy's and eighty's in the north and some of them stayed in brazil and they were in contact with the many tater military dictatorship. and therefore it was a vent, it was of their benefits to have this farm. and on this, from hundreds of workers worked in slavery like conditions and it was a closed farm and they received not a regular payment. and there were many of uses of human rights also happening. and this has end over many years. v w has admitted to many of these allegations in the

past, i believe. so what is this about this, this invest nation about? it's about the slavery work and the former for a workers. they now want to have a compensation for the abuses they suffered and fog smarten knows about these allegations and the case. and since 2017 because the forks viking historian, already m. yeah, showed up with a lot of information about this farm in the amazon. but until today for tomorrow is not able to am, make an official statement. and that's really for the prosecutors. a really disappointing scenario until this moment. mathias, you've been following this from the beginning. what are the next steps that we can expect? i think that the federal prosecutors will now put on more pressure on fog smog in order that the company has to deal with this case. and they were oiled show up with

more pressure. they will included the, the media here in brazil, and they want to have a positioning, a statement of forks value so that they can go on and that compensation might be paid to the workers in the next month or years to come. that state of you corresponded mathias able in sal paulo. thank you. what is well, that's our show. you can find out more online at w dot com slash business. we're also on youtube. you can find us under the d w news channels. i'm seeing beardsley, thanks for watching. off the coast of greece, russian oil is being sold illegally an investigative team. humans, the criminal activity on the you can see as greek ship owners hunt oil from

russian tanka. they violate the you, oil embargo on the massive scale focus on your next on d. w is the end of the pandemic in sight. we show what it could look like. return to normal. and we visit those who are finding it difficult to success in our weekly coping 19 special in 60 minutes on d w. oh, sometimes the b. c. i t the highlight for she knew it every

week, not them up. i was interested in the global economy. our portfolio d w. business beyond. here's a closer look at the project. our mission. to analyze the fight for market dominance. east, this is west. good. instead with d w business beyond with hello and welcome to focus on europe. it is good to have you with us. we're more than half a year now into russia's war on ukraine.