bolsters its emergency measures to try and quell a bond market uproar over u. k. budget plans. and the lack of skilled workers in germany is casting a shadow over rising demand for solar cells. hello, welcome to the show. i'm seeing beardsley in berlin. a sharp uptake in the number of german firms beginning insolvency proceedings is raising eyebrows in europe largest economy. some 762 firms declared bankruptcy in september. but that's a 34 percent increase from the same period last year. and the upward trend is set to continue this month and the next that's according to the holla institute for economic research. according to their new report, by november, up to 40 percent more companies could be beginning insolvency proceedings compared to the same period last year. or the report blames not just a lack luster economic outlook, but an average period during the covey 19 pandemic. that's what insolvency numbers

actually fell. i asked economists, steph and mueller, how to interpret the new numbers. and the overall trend. it's important to put those numbers into perspective. so we have seen a declining bankruptcy numbers for almost 20 years now. and there was in petite, a dip over the corona pandemic. so the increase that we see now is indeed partly you return to normalcy, but only partly the rise and bankruptcy numbers are sort of the strong. and if it continues feel like the well have more bankruptcies to before and amec. so it has to do with economic circumstances. and now, having said this, we are still far away from a bankruptcy wave. i want to go back a many of our viewers may not understand why did insolvency is actually fall during the pandemic. one would think that they would rise as times became tougher for businesses. well, we have seen a lot of rescue measures during the a pandemic. so for a couple of months the bankruptcy was even not. um, i'll take

a tory even if you meet the criteria for bankruptcy, and many other firms actually just waited to see whether they will be viable after they've been demick. ah, so there was kind of a wait and see mentality. and the question is now whether the rising numbers are also positive, reflect kind of bankruptcies that have been postpone just are you in depend them or i so maybe bouncing back after that period of fewer insolvency is what is the biggest challenge the businesses are facing right? now looking forward well, one change of course, arising an energy cost, but this is mostly hitting energy intensive. well, industrial firms and indirect, he out of firms because of a depressed consumer demand. but there, this is not the whole story, right? we have at the same time or so rising interest rates. so our boring money is getting much more costly and this is in particular problem for weak firms. so

refinancing is much more costly than it used to be over the last years and it's going to be more costly in the months to come. then we see increasing wages and but it could have, he saw a shop hike in the minimum wage. just last week and increased by 14 percent. and on top of this, of course, we're going to go into recession. ah, the flaw demand. so that is a bundle of reasons that are well. yeah. can you do a dangerous situation here? right now in germany there's the discussion about capping gas prices, essentially, artificially bringing energy prices lower. how critical could this be for the number of insolvency we see in the months ahead. can you make any connection between this discussion and what we'll see with insolvency? it's actually hard to make a connection between those 2 things because the number of energy intensive firms calling backed up is relatively low. at the moment. we see quite

a few bankruptcies in retail. for instance, this is not an energy intensive sector. and so i would expect to see not a big influence of those well, and actually cost cuts on the bankruptcy numbers. all right, that stephan mueller at the hollow institute for economic research. thank you so much. thank you. well, the pandemic has also altered labor markets and much of the world workers are simply harder to find. that's also the case in germany. but there's even a demographics aspect to many skilled workers in the country or aging out without proper replacements. the consequences are visible, especially right now with soaring energy prices and demand for solar cells going through the roof. master roofers, sebastian tom chick and his team have been on site since 8 in the morning. they want to get done today because the next job is already waiting. the demand for photovoltaic systems is huge, but a lack of work has means that many jobs can't even get started. that leads to

frustration, yacht oscillator, i tonya state law tents and in a bad mood because their order is processed several weeks in advance. they think once is processed, workers arrive within 2 weeks, whether it's just not possible. and when we finally show up with an assembly team, customers are sometimes quite annoyed edison, but as a clinician, however, the country fail at the energy sector is booming and there's a lot of competition on the labor market. electricians and roofers are in high demand yards and it seems you want to proper we are quite a young team so we're okay. but i know folks between 55 and 65 i think many of them will retire in the coming years. and i don't think it looks like they get replaced of knock on tom chick and his team work for a company with around a 100 workers. the firm does everything from consulting installing to maintenance of photovoltaic systems. it has 15 job openings existing now hawks large increased order situation presents major challenges. here we have to yet increase the number

of teams out there like we need electricians. but we also need to expand the back office to complete orders, and that's why we don't have enough workers on back at the office. there's a discussion with the marketing department about current job openings. not only can mister hemlaw asked his colleague, natalie to update him on where she is with the new job postings. natalie shows him the graphics and how a staff member will be presented online. and then they're talking about the platforms, the postings will go on of in county environmental sometime. natalie says they will be posted on social media, including facebook, linkedin, and instagram sofa. prima your colleagues will also be integrated into the marketing plan to spread the word. after all, word of marketing is often effective and hiring local unions often prima one thing

they know for sure, they won't be waiting for the government to come up with the answer to germany's ongoing lack of skilled workers now to some of the other global business stories making headlines, banks with female directors and board members are less inclined to approve loans to environmentally harmful companies. that's according to a recent study by the european central bank. it said the trend is stronger in countries where there are climate minded. female politicians, the e. c. b says the results strengthen the case for more gender diverse decision making in finance. investment banker, j. p. morgan expects the u. s. economy will dip into an economic recession in the next 6 to 9 months. ceo, jamie diamond, predicting the recession won't be like the 2008 crisis, but worn, that inflation big interest rate hikes and other factors have paved the way for a future of uncertainty. american electric, as

u. v maker vivian is recalling almost all of its vehicles, some $13000.00 to fix a faster that may impact impact the driver steering power. the move comes after a few customers report the issue without injuries. revene is trying to establish yourself as a reliable competitor to tesla. the bank of england says it will widen its bond purchasing to include inflation linked debts until the end of this week. buying up to 5000000000 pounds worth of the assets daily beginning tuesday. the measure comes with the u. k. struggles to call markets rocked by u. k. budget plans. announce last month. hillary ingram. as an economist at lancaster university. she joys me for more hillary. welcome back. the show, the bank of england taking these new steps on both monday and to day after so much more turmoil. how serious is the situation in bond markets right now? well, it's very serious because we know the, after you know,

the financial statement or many budget, what if you want to call it markets react badly. bank of england in part to rescue up pension funds, who are obliged to sell that gold. ready the price of its plummet that day intervened in the market and thought that that, but of course they announced that they would only be doing that until this week. but now, because of the continued uncertainty, they are going to be buy more debt. because of course, what has happened, i mean that there's still on certain thing about when we're going to get the, the, our independent view of government finances. the next statement was due on november the 23rd. it's not been brought back to october, the 31st because market florida says, and also the shoot. this school body has not publish something that actually says that the call of what the government of proposing could be in the region of

60000000000 pounds. and of course we think spend like that somewhere along the line, there's going to be cup hillary this, these measures announced by the bank of england. they run out friday. what happens then? i think they'll be a 3rd of the reassessment. and if things are, as you know, disturbed as they are currently, i think you might expect to see that they extend these programs like one short term measure after another. but of course, they don't want to commit to intervening in the markets in this way for too long. because of course, well that buying up this government that they're effectively putting money into the economy. i putting money into the hands of consumers just at the same time, i tried to buckle inflation by increasing interest rates. so they bought, you know, to very different conflicting roles that they're playing here, which makes life very, very difficult for them. very briefly,

to what extent is the turmoil we're seeing linked to competence in this government? can we really assess that? we can't attribute day on a one to one basis, but i think that there is a lack of confidence. i think there was always an issue for the private. ready because of course, she was not backed by anything like a majority of her own. m pays. and there are some very powerful people, like for example michael, go have gone. you know, to the back benches. there's be she so knock on his supporters. so she came really on a fairly weak mandate. she has taken some moves. so she's a point to the minister now. i was one of the she soon ack supporters. she went against what she was thought of going to be do about the treasury post that they thought was going to go to a treasury outsider. antonio romero now gone to a treasury in cider, whereas she's always back to the so called treasury orthodoxy. so she does seem to be raining things in slightly, but it's problematic. i mean, she's in

a very unpopular position. i think it was on her rating of minus 41 and be so unpopular. so quickly, i'm stepping in to not a comfortable place debate. i want to leave it there for now. hope hillary ingram at lancaster university. thank you so much. thank you. bye. all right, that's it for me and the d. w team. you can always find out more about these and other stories online. check us out a w dot com slash business. we're also on youtube or the d. w. news channel. i've seen beardsley watching with

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