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tv   Business - News  Deutsche Welle  October 19, 2022 5:15am-5:31am CEST

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car with a difference. this live sized lamborghini is built entirely out of lego. and it took 400000 pieces and a 154 different brick shapes. and for those who can't afford the real deal, a smaller version is available for just 450 year us now i assume it has no engine. okay, that's all for me now. coming up next is dw business with rob watts. i'm pop up on alias from the team here. thanks for watching. take care and i'll see at the top of the next, are people in trucks injured when trying to free the city center more and more refugees are being turned away in order families on the tax is the reason for the credit on it is with extreme
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us getting 200 people in around the world, more than 300000000 people are seeking refuge. yes. why? because no one should have to flee. make up your own mind. d. w. made for mines. ah, me you attempt to unite over energy. the european commission has set out proposals to help the block through its gas price crisis. will they be enough to bring members states together? the dollar goes from strength to strength, leaving other leading currencies in the dust. we'll look at the impact around the
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world that the historic drought ravages the american south west. we ask local pharmacy how they're coping in extreme heat. this is data we a business i'm of was in berlin. welcome to the program. a plan to see europe through the wind. european commission has set out proposals aimed at raining in surging energy prices across the u. among the ideas put forward by the commission as the signing of joint gas supply contract. but not included in the cap is not included is a cap on gas prices. the idea has split member states with germany making its opposition clear. it doesn't want to scare off is new suppliers. your leaders will discuss the proposals later this week. much explain more about what the european commission is proposing. here's our correspondent in brussels. terry schultz. well, european commission, chief ursula vander lion,
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is pleading with countries to cooperate more in bringing down energy prices as we head into winter. now, what she made her priority in the package of proposals she unveiled to day was that countries make joint purchases of gas. she says when they're competing against each other for gas contracts, it's just driving the price up for everyone. butter lion says this will also be an advantage for suppliers if they get larger contracts, and she's talking about reliable suppliers in her words and she, she means norway in the united states, primarily as a european union tries to further limits dependents on russian imports. now the other thing that she would like to see happen is putting a cap on what they call the dynamic price of gas. that would limit fluctuations on price in the market. and she very much hopes that of both of these proposals will be taken up by you leaders later this week and approved. but one of the measures that is missing from these proposals is the cap on the price of gas at some member states have been calling for. why has the commission has stopped short of yes for
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the reason that you just mentioned, some member states are calling for it and some of them, namely germany are against it. there is no agreement on capping the price of gas, and therefore the proposal wasn't worth mentioning today when a little under land unveiled her new package of proposals. again, as i mentioned, they're very much hoping that these proposals will be approved by leaders meeting later this week. at an e u summit, and that then energy ministers can hash out details on those proposals that will get agreement. the price cap on gas is something that will need more negotiations. but i think that ursula of underlying is very much determined to see that happen. ok more to come on this later in the week on terry schultz in brussels for us. thanks very much. moving on in recent months, the u. s. dollar has been going from strength to strength is risen. 18 percent against a basket of key current is since the start of the year, the federal reserves aggressive rates hikes intended to control inflation. having
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a major effect beyond american shores. as long as there are a current, there's a need for people who can fix them. but in this repair shop in nairobi, one of many in the neighbourhood times are increasingly tough. the business is struggling. customers are unhappy. the cause, the strong us dollar and a relatively weak local currency, which is sending prices through the roof. sometimes you find that they say increase about 10 to 20 percent in their cost of a fair fight within a period of maybe $5.00 to $6.00 as 6 to 12 months. we ship. why not expecting for us? like now? we are in wholesale and retail of pots, and you find that men, most of the customers complain a lot just down the road paths dealer, albert che, feels the same pain we are continuing to, to lose if i used to pick my children to what it is we cannot do those had holy does anymore, because i am at the of the equally sheila, it's
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a phenomenon which is hitting small businesses around the world across all sectors in istanbul, chill out culturally sells infant clothing and diaper bags in his 2 shops. the letter wasn't that we purchased material and paper manufacturing in u. s. dollars, but we sell in turkish lira. that's the problem. it's why kelly has to raise prices for turkish customers who have to pay him in the degraded local currency. arising dollar is causing pain overseas in a number of ways. it makes other countries info. it's more expensive. it forces central banks to raise interest rights to defend the currencies and keep money from fleeing the borders. it squeezes companies, consumers and governments that borrowed in dollars because more local currency is needed for loan repayments and those high borrowing costs we can economic growth and drive up unemployment. let's discuss how we got to this point with our
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financial correspondence in new york. teddy, australia, teddy, i just remind us why the dollar is so strong and has been for the past few months or as they say, the dollar always wins no matter the state of the economy. but right now the dollar really does seem to be rainy supreme. well, 1st thing to say is that the dollar, of course, is the world reserve, currency 40 percent of transactions are denominated in the dollar. many commodities are priced in the dollar, excuse me, our price in the dollar. and, and, but for us, for the recent surge, what we're seeing is that federal interest rate hikes are encouraging foreign investors to exchange for greenbacks. and we are also seeing that the crises around the world, such as the energy crisis in europe, such as the supply chain crises and the threat of recession is encouraging people
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to invest in the dollar. because it is seen as a safe haven, a pillar of stability and security in a struggling world. just saying i report some of the drawbacks for other countries when the dollars is so strong, but presumably it also provides challenges for some u. s. companies. if well, if you're an american tourist in japan or the u. k, you're having a great time right now. everything is cheap. that's not the case for all america businesses. if you're an importer, things are great, things are cheap. however, if you're an ex border or if you have international operations, you could be seeing some losses that because all these goods and services of course, are more expensive in foreign countries and we're seeing fall and demand. we have already seen some multi $1000000000.00 hits. in some cases, a lot of companies are suffering ideas, johnson and johnson. and if the dollar continues to serve, it's likely we're going to see more of this for american businesses. ok to the
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australia on a very busy floor, the new york stock exchange. thanks a lot. now let's take a look at some of the other global business stories that are making the news. exxon mobil says it has completely left russia after president putin expropriated its properties. the move from the russian leader followed months of discussions next on says it was not compensated for the assets, which i estimated to be valued of $4000000000.00. a russian court has find live streaming platform twitch for refusing to take down what moscow calls inappropriate content content relates to russia's invasion of ukraine to which received to fines totaling a $120000.00. same court has also submitted promotion against wikipedia. large financial institutions have increased their funding to companies responsible for deforestation around the world that's according to the forest and finance coalition
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. the angio says that such financing rows over 60 percent to 47000000000 dollars last year and philanthropist mackenzie scott, who was previously my a $2000000000.00 jeff bezos has pledged to donate nearly $85000000.00 the girl scouts of the usa in 2019 scott promised to give away her entire fortune so far. she's handed over $12000000000.00 to various causes and to relief efforts in ukraine. staying in the restaurant and extreme drought is changing. the parts of the united states landscape along the colorado river lakes are drying up and once 1st, our land is becoming parched. as this report from arizona shows is our traveling times for the regions farms 48 degrees celsius, with no sign of rain in sight. and that's worrying nancy kaywood. she's watching her land roy up before her very eyes. it's only received a 3rd of the rainfall. she needs sustained business. everything was dried out.
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there's land across the canal bank, straight to the east. and i'm all about is out of production because we just don't have water availability. less than half of our farm is in production. all we can do is watch things dry up. the reason the colorado river is running dry climate change is causing less snowfall in the rocky mountains during the winter and had means less water for the river. come to spring for putting pressure on 40000000 people across 7 u. s. states and mexico. the heart of the problem lies in lake meet the country's largest water reservoir. it's water level continues to fall and it's difficult to create a collaborative outcome when you have 7 states, a foreign country, mexico, the federal government, local governments, next year we will take 21 percent reduction in our water supply. mexico in nevada will take reductions, but california still will not take any reductions. hydrologist warned that such
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droughts will likely become more common and more severe in the future. personally i've, i believe that not enough people take the idea of climate change in human induced climate change. seriously enough, water is a limited resource. ah, many political science to say that it will be a battle ground in the future. ah, the lack of water creates political instability and the potential or conflict do it's, it's like, is this the most recent update to the u. s. drop monitor and reveal the startling figure. nearly 82 percent of the country is facing the abnormally dry conditions. if not worse, the highest percentage since the drop monitor launched in 2000. and just lastly cats are, i always is withdrawing flights or his international airport, not because of strikes or lack of passengers, but to make space for weld cut fans. the airline is halting services from 18
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destinations in order to accommodate the 1200000 visitors. they expect to welcome for the full time and next month, a spokesperson for hammered international efforts as more than $500.00 commercial flights. and hundreds of charter and private jets are scheduled to land each day. muscle from the business team here in berlin for more to head over to our website to see do we have com slash business? you can also find us on the d, w. news, youtube channel, and were on facebook as well as peter weve. tough business for me. and the team till next time, take care. ego africa. a promise of new jobs and well, a new pipeline across uganda. like environmental is a warning us about the consequences. energy security versus nature conservation.
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can this conflict ever be resolved? our lives in did lag ego africa next on d w. as small children. their parents took them to the distance for school. mm. they 1st see each other again 10 years later when they returned home i, i didn't know luxury. my minded, i am very nervous. must n as in include a nate, paul? no mind children. in 45 minutes on d w ah, with ended glistening place of longing. the mediterranean sea,
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it's waters connect people of many cultures. sanibel must 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, metty to new jersey this week on d. w. ah . welcome to these new edition of echo africa. it's good to have you with us. i'm chris alam snuggle state nigeria. i with me is my charming co.

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