new story we're following for you at the sour ukrainian forces are reported to be recapturing territory in the south of the country. and their biggest breakthrough there since the start of the war and official installed by russian by russia acknowledge that ukraine has made advances and they are still in region one afford that russia you legally annex last week. all right, that's your news update of next is business news with rob watts. and remember, you can get all your news around the clock on our website. that's d, w dot com. and of course you can follow some social media as well. where a handle is at the w news. i'm here until berlin. thanks for watching. i has no limit. love is for everybody. i love is life. i love matters and that's

my new podcast. i'm evelyn char, mom and i really think we need to talk about all the topics that more divide and deny that this i have invited many a year and well known gas. and i would like to invite you with a credit suisse has tre, does sweating fairs over the swift lenders future that it shares to slump on monday? we'll look at what's behind the worry has been described as a financial buzz because that germany is planned as subsidized. gas prices to the

tune of $200000000000.00. yours is under fire. from his e. you neighbors and turkish inflation hit 83 percent last month according to official statistics. but independent experts believed it's even higher. we look at how texas is to see to be business on robots in berlin. welcome to the program. concerns appear to be growing about the future of banking. major credit suisse shares in switzerland, 2nd biggest lenders slumped by as much as 11 and a half percent on monday, reflecting market concerns as the bank finalizes, a restructuring plan is we laid out later this month. credit suisse is struggling to fix its reputation after 2 scandals. cost it over 7000000000 euros. and as rumors swirled around its liquidity, the banks leadership insists it's liquidity and capital a both knowledge. uh, let's cross to our financial correspondent in new york. yes quarter, i get

a bit more on this. yes. this restructuring plans not you out for a few weeks. so why invest is worried about this now. there are definitely a submissive moved sir. a rob been to him if you look at credit suisse overall in march 2021. the company was worth more than 30000000000 or swiss francs, and now it's down to about 210. and there is a saying on wall street. companies usually have some weeks or months before they go belly up, but banks actually die overnight. it's all about confidence. i'm not saying that credit suisse will not live another day, but at least bets on wall street, the embed of the company, my default on their bond payments in the next couple of years spiked a quite a bit. there was a memo out from the c o over the weekend had been over to the obviously did not calm down the market. quite the contrary. it backfired because it was not very,

a deep and detail. somehow a to fix or the trouble at that accredits was, is it? so this is all about the, the future of credit suisse is now one of the scenarios that are facing the organization. i believe it's october 27th. so that sir, when the restructuring pan plan is supposed to be published. hm. so a one of 2 could be that this restructuring plan, works of restructuring, credit suisse will cost money. there is talk about $4000000000.00 or one of the questions is how will a credit suisse arise? that money a probably a was a selling some assets and we might see a massive layoffs at the company in the next couple of years. there's also talk that credits with might be a bought by and another company em altogether, even if that seems a bit unlikely to me, at least them at this point, credits with has been involved in so many signal to the past couple of years. i wonder who would really by the company where any 2nd theoretic me something else

that could pop up. so i, i guess the best hope at this point is that the restructuring plan will work indeed against at test the shares also to hit on monday, falling as much as, as 7 percent after his sales figures fell below expectations was behind those disappointing production figures yet it's, it was really a rear to see of because some overall, a tesla actually had the best quarter in its company history when it comes to deliveries even if those deliveries were a bit shy of expectations. but i guess that does not really explain this mess of a moves that we saw in the stock price of, i believe the big question is where tesla sold the cars. and there were some signs that a demand might be calling in china tesla, actually an exported some cars that are made and in shanghai. so and, and china to overseas markets and seemed to cause some concern m on

a wall street. and then on top of it, tesla produced more cost, then they delivered. so there might also be a certain leg when it comes to the digital to the logistics, some at tessa at this point. ok, yes. cortez, the new york stock exchange for as thank valid next, the german government has been defending its plans to subsidize gas prices in the face or criticism from other e. you members arriving at a meeting of yours and finance ministers in luxembourg, germany's christian lin, nurse at the 200000000000 your package aimed at dampening the impact of ruinous energy costs. but other countries claim the measure could distort the use internal market with some nations unable to keep up with germany spending as a from our correspondent christine wonder who has more effectively what this means is that german businesses will qualify. we'll, we'll be getting a bigger subsidy and then their business peers within the rest of the european

union and thus getting a competitive advantage being given a competitive advantage. and that has drawn criticism, are from other member states who feel that it, it is unfair in a sense that an edge countries like germany and others who have the scope at to go bigger on these rescue packages, are effectively pursuing national interest at a time where you would want that solidarity that this is damaging to the solidarity of soaring power costs are a huge problem for many companies in germany. reducing energy consumption is an option for some while at the same time scaling down production as well. but some companies can't do either. it's high precision work for more than a 100 years. german company at lendy has been selling abrasive, groaning wheels. each one is custom made to the client's needs. most of their production is for export to ball bearing manufacturers. medical tech companies or

order suppliers, the companies order books or full. but the $200.00 employees are concerned about rising energy costs. electricity prices doubled in recent months, and the price of gas has gone up $6.00 hold of revenue as we were forced to sharply increase the prices because we expect energy prices to continue to rise. saying that we're now budgeting is the current high price. and so the question is, and our hope is that our loyal customers will continue to order from us because our products are of high quality and are quite simply necessary for madison. when i fuck him off, then the traditional company has to buy gas and electricity on the so called spot market because it previous energy suppliers so filed for bankruptcy. that means atlantic can't make any long term agreements for their energy needs. rising gas and electricity prices are having an immediate effect on production costs. that's because these wheels have to be baked in high temperature ovens this al,

adding substantially up to now there's been no support at all from the state. we've applied for support for the high energy prices. but the application was extremely bureaucratic like and it almost seems as if obstacles were being deliberately put in the way so that as few companies as possible could receive support. i'm at work this vanish montana in law, had understood from hong kong. if energy prices continue to rise and a recession materializes, a company like atlantic stands to lose a significant number of orders. with our tag, we wouldn't lay off employees, we'd put staff on reduced hours like we already had good experiences with this during corona virus. how it but it would still be difficult for us economically. we have certain costs that even this measure count cushioned over backwards. i miss outfit icon. but some businesses can absorb the rising costs, like this bakery in bon. after more than a 125 years, the family business is closing its doors. from until one up for 1900 euros of

electricity a month, which is a lot for a small business to 3800. you can compensate for that with higher prices. it's just not possible off on gasket on finish. even if a government rescue package for small businesses materializes for some, it's already too late. now, some of the other global business stories making the news. the british government is dropping one of the most controversial parts of the code. many budgets amount by 5 minutes or less trust as team 10 days ago. treasury chief quality qual, thanks as a 45 percent tax rate for high end as well and no longer be scrapped. the u turn comes after considerable pressure from within the ruling. conservative party u. k. 2 largest mobile network operators, vodafone and 3, are intensifying discussions over combining their operations. the goal is to have a deal in place by year's end. both operators based rising investments as they

build out 5 g networks. i think plus is considering an oil production cut that sources. they could top a 1000000 barrels per day from previous estimates if agreed to it will be the largest and damage again. delegates and the reduction figure has not been finalized reality television. star kim kardashian has agreed to pay a $1260000.00 payout for unlawfully promoting a crypto currency. according to the u. s. financial regulator, she broke the rules when she counted e max tokens on her instagram account without disclosing. she was paid $250000.00 by their max for the post. i inflation in turkey has jumped to a new 24 year high a week after the central bank cut interest rates. again, inflation hit 83 percent in september according to the state statistics agency. however, an independent inflation research group claims the actual right to more than double

that turkish government has said, inflation would fall with its new economic model, which prioritizes low interest rates, to boost production and growth. well, we've been asking people in a stan bull how inflation is affecting them. their prices are high. we're really struggling. we have 2 children who go to school. we're only earning minimum wage and it's hard to make a living on the position. they met 19 years old and i'm not hopeful. i don't think the situation here in turkey will improve. you have also could i'm, i don't see a future here. i actually want to go abroad. this is true for most of us on which and then we get a child in phil's home and you think i don't think inflation is around 80 percent. it's much higher. i don't know whether the official figures are true or not for buffalo, that the inflation i feel is much more like you. that's why it's getting harder and harder to live. she'll give you. and finally, it's been a battle all the bunnies and now chocolate. make a lint has one legal case,

either one of its most famous suite treats switzerland's. highest court has ruled that a chocolate bunny from 2 local units of discounts if market leetle is too similar to the famous lint versions shown here. the gold wrapped rabbits with bell is one of linds flagship products. the swiss company has gone to court many times recently as to protect its trade muscle from the business. same heron berlin from all head up to our website. tito, we dot com slash business until next time. i can chronicle of a skin documentary and anti semitism on the 15th world art exhibition and cause it wanted to promote understanding,

but it was overshadowed by a bitter dispute over anti semitic imagery. and, or course the documentary scandal, kluso. next on d w. take off. what's going on here with who do they think they are? good questions. you can find the answers here. all the games, all the goals. who does the go highlight? kid, go 60 minutes on the w hulu with when you haven't had ended the listening place of morning. the mediterranean sea,

it's waters connect people of many cultures seen of emma's rock. and to far abdul karim drift along with exploring modern lifestyles and mediterranean, where has history left its traces, meeting people hearing their dreams mediterranean during this week on d. w. with . oh, well famous south exhibition with wax that cause discount or lens online. we saw these anti semitic trash.