the epilepsy is not likely to fall into oblivion any time soon. it's good to hear you're up to date now my colleague daniel winters of next to the w business news. i will see you tomorrow. with one continent, 700000000 people. with their own personal stories. europe. mm hm. we explored every day life with what europeans feared and what they hope for focus on

european o. d, w. m. know, ah, rearing to read. ah, everyone who loves books has to go insane. ah, the d. w literature list, a 100 german must reads ah, it's me to day all the deja vu was brittan picks. it's new p n. richey soon i will take up the roll on choose date, the country looking to him to stabilize the economy. how can do it for speak to an x, but also coming up while the war in ukraine continues thought to turning to what come next? germany, ukrainian business and political li is needed to discuss rebuilding efforts. we'll

see what support the country leaks and all of europe is struggling with energy prices, but it's hitting some countries harder than most. we had to athens and see how greeks struggling to make ends at the time again dw business, welcome richie. sumac is said to become britain's 3rd prime minister in less than 2 months. soon, ack will face a set of economic challenges including the highest inflation in for decades. a growing cost of living crisis and an energy crunch due to the war in ukraine. speaking to conservative, m p 's on monday, soon act called for stability and unity. the united kingdom is a great country, but there is no doubt we face a profound economic challenge. we now need stability and unity, and i will make it my utmost priority to bring our party and our country together.

because that is the only way we will overcome the challenges we face and build a better, more prosperous future for our children and our grandchildren. and joining us now in his dw business debut, daniel mahoney is u k economist who handles bank. and thank you very much for joining us, daniel. and so how would you describe the market reaction to, to not becoming a prime minister today? after all, with trusts, we saw russians in the markets. what was the reaction with tonight? you know the reaction to stay in the market, so it's very positive. if you look at base yields and currency based suggested that they were quite positive about what happened during the day saying get you down by about 30 basis points and much more than european counterparts. and studying didn't really react to get the dollar. and the week before however, we did have a bit of a write a case study in terms of what happened with the financial market. say when jeremy

hunt took over his chancellor took over from coffee courting young notes and a number of you turns to fiscal policy and markets directed well to that. obviously less trust the prime minister. resigned later on that week, we didn't see much reaction from markets. volatility did return on the friday, and that was when boys johnson announced that he might be in the running. i think markets were slightly worried, but that could be a little turmoil. they, they didn't welcome that as well as be. so what happened today? he dropped out of the race and now we have brushes tonight, and yes, the market did react positively to that. right. so we build yield, you're talking about the government bonds, you take them in bonds and base it as an implied cost of borrowing for the country as well. says very, very important measure. but looking ahead tuesday really next expected to become pm . so what are the main economic challenges he needs to get started with fixing?

i think you have an immediate priority, which is to make sure that the markets remain stable. i think he's already achieved that somewhat, but you gotta make sure about position stays when there was trouble in the guilt market. that was over to this issue on pension funds and long day to go say 304050 years. and it was real issues that when, when the price of guilt was falling, it was calling economy a number of issues that we don't see guy again. of course. the 2nd issue, i'd say, was twofold. we are seeing a very high inflation re environment just like we are across the developed world just where double digit figures inflation, 10 point one percent. but at the same time, we've got a flowing economy and it seems pretty likely that we're going to be entering recession in the next in the next couple of courses. so having that jewel problem is going to be a major challenge amc not. all right, well like i said, you got

a challenge ahead of him. let's see how he does daniel mahoney. thank you very much for talking to us about that. look across the pond to the united states now and a busy week ahead for stuck watches. joining us from wall street is teddy australia, so teddy drawing the most attention this week will be tech stocks watch will a powerful as a huge week here on wall street. from here from amazon, apple. meta microsoft, really you name it. and it appears that the expectations are not particularly good. last quarter. we saw some issues. for example, mehta had its 1st decline in revenue in its history as a public company. and the see is maybe we'll see a continuation of ad revenues declining, as well as a demand shifts from the consumer from e commerce, from tech products that we saw earlier in the pandemic, towards more services. and of course,

the cost of fuel is expected to hit the bottom lines of vehicle makers and travel companies to yeah, we're going to hear from southwest jet blue general motors for now is for airlines . it does look like there's some resilience there. we saw american airlines did quite well record breaking revenue. it does seem like americans are going on vacation. they are taking those flights. now, automakers, it's a little bit different expectations are lower because of the cost of fuel because of continued supply chain snarls. but they are insistent that demand is so high and that their profit a guidance actually hasn't been cut for the year. okay, so it's gonna be a busy week ahead and teddy, you'll be walking us through that. thank you very much for that from new york to look now to ukraine, where russian missile and drone attacks have taken their toll on the countries critical infrastructure. the i m f. believe's,

ukraine's economy will contract 35 percent this year. but where some c destruction others see a chance to rebuild the cranes prime minister saying in the meeting of ukrainian and german business leaders. on monday he studied up $500.00 major investment projects with $400000000000.00. all that's left is to attract the funds. russia's daily bombardments of ukraine are leaving housing roads, railways and power plants and ruins and is not in sight. but the german government is already preparing efforts to help rebuild ukraine with winter approaching ukrainians. need electricity heating and water. german chancellor, olaf sholtes is hoping to attract investors with a prospect of e u membership for ukraine. these inside of this decision, since a signal to private investors, those who now and the reconstruction of ukraine are also investing in a future e u member. and that will be part of our legal community and our internal market.

some 2000 german companies are already active in ukraine. and despite the war, most every made their numbers likely to grow with many helping to rebuild the country. the most was needed to restructure quickly and efficient ukraine and energetic system. and especially in the field of this control, the zation of supply demand because they target in this huge former soviet union and electricity to station it, it's very simple to shut down lash cities, for example, keel or deliver it from there for the electra city, the head of a large logistics company based in the city of denise pro, is eager to find some investors. it's a good time to invest to rod truck solutions for transportation sounds into ukraine. i would also noticed better housing as long as we have

different gods with between european community and ukrainian railway infrastructure. it is very good time for in the west and to dry ports on the border between european community and ukraine. for this moment. a lot will have to be done to rebuild ukraine and it could take decades. but the infrastructure is likely to be better than before. the war is far from over. but reconstruction efforts are already beginning. another consequence of the war, natural gas prices of sword across europe, but some countries are hit harder than others. just take grease, which uses gas to generate most of its electricity. despite government support, families are struggling to pay the cost of higher fuel bills. dimitris margolis and his daughter vasily key like to play in the living room. it's the largest rooming there. 55 square meter apartment in athens,

but pain the power bill has become a challenge. it will blew. now. i used to pay 40 euros. suddenly the price jump to $95.00 euros. that's despite subsidies for private homes. the states spain almost 80 euro's of dimitris power bill. without that help, he'd have to pay almost 175 euros. the high electricity costs are forcing him to cut back on things like food, dimitris and his wife have a yearly income of around 23000 euros. the reason for the exploding prices is simple. grease produces the majority of its power from gas. last year off of that gas came from russia. now that changed around 2 thirds of grease is liquefied natural gas comes from all the sources. but the

high price is evan budged, mrs. huff, core, reese's largest company producing and processing copper products. it's one of many energy intensive companies in greece. after years of economic crisis, greece is industry has bounced back the spider corona pandemic, but production costs of balloon 40 percent since the start of the year. i think, i think there are branches, including many energy intensive industries that have already started to shut down. there is a lot of uncertainty their, their survival chances are in good, even gone with after the export increase that we've seen in the last few years. the energy crisis is a massive setback. fussing is to say yes already. palindrome easy. grease is government had already started to shift to renewable energy sources before the gas crisis. and it's continuing to do so. but the government had planned to stop mining brown coal. and now it's just reactivating several cold power plants. it's also

pain, $2000000000.00 euros in power subsidies each month. but it can food to bill for ever. and that's it. you're up to date with d w business. if you want more, as always, you can check on our website, d, w home slash business, also the d w. news, youtube channel with all of our business specials on there as well. for me and the business team here in berlin. thank you very much with with do you like it with do you want it? okay, then bucko up, put the pedal to the metal and let's ride with

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