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tv   Business - News  Deutsche Welle  October 31, 2022 11:15am-11:31am CET

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about the table. let's have a look at it right now. the berliners have a one point lead again over by and that's after 12 games. fryeburg and dormant are 3rd and 4th. meanwhile, gladder have slipped into the bottom half and shelter or rock bottom. all right, that's a thing is updates my colleagues fatal simple been your the latest business years. that's after the break. there's more news on t w dot com on our breaking news app, and you can follow us one social media where i'll handle is at beat up. the news has been good having your company. i'll see you next hour. ah again they get all the harvesters, are immigrants, is thankful, everything you enjoy eating at home with your family, was harvested by people who are being exploited when it's done like this for free, and we're going to need durham, can we keep doing what we're doing?
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and that's why your green revolution is absolutely necessary. europe revealed the future is being determined. now, our documentary theory will show you how people, companies and countries are rethinking everything, and making major changes. europe revealed, starts november 3rd on d, w. ah, here is own inflation reaches another record high. the latest figures suggest the continents cost of living crisis is far from under control. we'll get expert analysis on why efforts to attain inflation don't seem to be working from employees fleeing factories to the closure of shanghai and disney resorts. we'll
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find out just how big an impacts china the 0 coven policy is having across the country. and fought happens when cold country becomes renewable. federal will take you to the heart of west virginia, where windmills are popping up on the fight of old mines. this is dw business. i'm kate ferguson. thanks for joining me. inflation in the euro zone. have his another record high with the laces figure showing prices rose 10.7 percent in october. the figures are a source of concern for governments across the block, unable fuel, more debate about what the right policy response should be. last week, the european central bank raised its interest rate by 3 quarters of a percent in an attempt to slow down price wise's officials acknowledge this could increase the risk of recession, but a taming inflation needs to be the priority for now continued war and ukraine is
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the major life of price rises, but other factors are also play. for more in this, let's talk to mock village senior economist at the university of center gallon in switzerland market. these latest numbers aren't exactly a massive shock, but they certainly indicate will be not out of the woods anytime soon. you've been following economic trends for many years. how boss is this crisis is pretty bad. i mean, 10 percent in europe or 10 percent in germany is more than we had in 70 years history . but i do look at these figures one otherwise more info, and that is that that figures so diversity, increasing diversity of national inflation rates in europe or eurozone would be bad words. but that doesn't happen. whereas the diversity of the death rates are significantly higher. and that's the problem. ok, so that in balance is a major factor that we actually don't talk about very often. but of course the main
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driver you could say of inflation right now is energy insecurity. and the e u has not been able to come to an agreement about introducing price caps, for instance, with countries mostly going alone. when it comes to energy policy. do you see any consensus forming on this issue? no, not really because energy supply sector and national economies not deal with it even though it should be dealt with in europe. so we see the germans situation deductible of chancellor show shows and as long as there is no common ground for, for, for an agreement. and you're going to see that the national countries and governments will go ahead. the question however, is whether we find a price tag, a price cap, which is less the signaling effect on the energy prices still work. okay, so another thing you can do is raise interest rates and that's exactly what the c b did last week. it rates and by 3 quarters of a percent,
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but it did acknowledge that this could a fuel, a recession. how effective do you think this policy have a potential to be e c, b was too late and to slow and know what the problem is. we need to look at inflation expectations and to sterling effect of prices. so the need to act very quickly and very tough on one hand. on the other hand, the question of recession belongs to an economic cycle as a natural being. so the question for the c, b know, is whether they want to have only a recession or only inflation. main concern is that we need to stack lation. so inflation plus recession and that's the worst thing that happened. so the e. c, b must pipe and take the recession, fear into consideration, but just raise interest rates are much higher than the half so far. alright, baka says senior economist at the university of center gallon. thank you so much. welcome. china's factory activity,
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how strong again this month as the countries strict pandemic lockson's humper businesses across the country. analyst expect i put to drop even further in the winter. i've disruptions to production on the service industry continues or hurts growth. some factories including at the folks con, plant in shang, you have even seen a stop walking. i was after our gene measures were introduced. the factory isn't important. locations for apple, which has been producing. it's lisa, so i phone muffle there. that's get more in this from d w correspondent william young in ty pe hi william, tell me more about this accident of fox con employees. what's going on? so this exit has started a few weeks ago when the plant agenda, which is in central china, started experiencing a spike of their covert cases. and as we all know,
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china has been imposing the very strict 0 cov it strategy since the beginning of the pandemic. so the plant was actually demanded by the local government to impose this so closed loop while they can maintain their production. but somehow there were a lot of lack of basic resources and food and supplies. and the condition did not get under control. so a lot of the workers finally were not able to live under the circumstances and they had this exit is that was a 3rd thing in video circulating on chinese social media over the weekend. and that sparked the outrage among chinese medicines. and the local government had to intervene on sunday, and so far the government and also the company claimed that they had got the pandemic outbreak under control. but there were still a lot of discontent among the former workers and also the chinese people. okay, so
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a lot of workers are really fed up here, but this is also having a pretty critical time for apple because it's preparing to launch its new iphone in the next 2 months. how much will this disruption effect production? so the number is expected to be slashed by as much as 30 percent, even though fox con is trying to shift the production to its hub in sins and, but we don't know how much that can actually make up for it. and with the roll out of iphone 14 expected, at the, at the end of the year, towards the holiday season. this could eventually and potentially have a lot of impact on the global supply. china seems really determined to hold onto this 0 cobit strategy. and it certainly seems people are really fed up with them young. thank you so much for your insights. thank you to greece now where the tourism industry is experiencing a resurgence which will likely see it returned to the boom it was experiencing
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before the pandemic. but hope the factor could power a meaningful way out of the current economic crisis are being dampened by concerns about inflation and the cost of energy or the grand acropolis of athens continues to attract visitors from all over the world. and in 2022. it's in even more traffic than ever before. the booming tourism sector in greece is expected to outperform the record ear of 2019, went around 33000000 tourists, visited the country, bringing in revenue of more than 18000000000 euros. this year. the greek central bank is expecting tourism to rake him. 20000000000 euros. but the country struggling with high inflation of around 12 percent in our long winter waits ahead . i me to europe's ongoing energy crisis. the question is, i'll, we'll de winful from tourism, bused to the mercy voice. tourism has helped there's more revenue, people are spending more money. these are simple things,
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but how this is spent back on society, the house, and the magnitude of our problems. it cannot be predicted by any one of the person with abuses, a foolproof, this county. rapidly rising fuel and energy costs overshadow the expectations of economic relief generated by the tourism sector. hey, what if i made this for law and eventually it will be difficult. costs are rising after the these costs will have to be included in the product or the final sell price lisa shipple. so there will be a chain reaction of high prices, not the raising electricity costs will cause the price of a rug or a hotel room. and or a ferry tickets you to become more expensive enough. edible tourism in grees was hit hard earlier during the corona virus pandemic. now, it will be a tough recovery in the face of russia's invasion of ukraine and the global economics low down west virginia is america's most coal dependent states on has been tailing well behind when it comes to the green
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revolution. but thus could be about to change. west virginia has long been one of the greatest strongholds of the us fossil fuel industry. the coal mining museum is all about the old ways of coal mining. here we meet my colo. a retired minor is a war on fossil fuels here in america, you know that we got cohen dorothy, we got natural gas on dorothy vega there out and other countries vegan who he thinks climate change will be a key issue in the upcoming mid term elections. fossil fuels, all that's a big issue. it always is. every time they want clean air cleaner, everything right. the green transition is reaching even west virginia, cold country. right now. all renewable energy combined cover less than 7 percent of the states. net electricity generation, but west virginia governor jim justice believes that this is a 1st step into a green economy. how we're diversifying our state and moving forward in every word
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. at this former coal mine, dozens of windmills will replace the abandoned mining equipment. there are also investments in solar panels and electric school buses. but not everyone is happy with this change. jason bostic thinks the industry is here to stay. mike, it's the only we're in the world you're using some level of wash, which you call. and if the, you know the renewable slash norman build, al continues like, it is windmill blades go out, west virginia colon after winning the 2020 elections. democrats enjoyed a majority in both the house and the senate and could pass an important bill that support screen projects. even states like west virginia, who's representatives oppose this bill, can use this money. but with the mid term elections approaching, this push will be on the ballot. could a republican when, in the mid terms that hold this transition, climate change is
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a highly politicized question. and the majority of republican stone, one now at mid debt climate change, us human mate, that's the biggest general fear i would half with a republican dominance they would try to push and support again more to fossil fuel industry by, for example, giving more drilling permissions. but renewable projects like these in the heart of west virginia cold country show that change is hard to stop. thanks so much for watching. ah ah,
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with ah, with ah pico africa planting trees in supporting athletic talent. how does that work for you? this is all about is for us, it's bob based upon the result. it's a successful project. learn more schools are adopting the initiative,
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which is already helped to plan more than $10000.00 trees africa. next on d w. we've got some hot tips for your bucket list ah romantic corner track hotspot for food and some great cultural memorials to boot d w. travel off we go. oh oh i hello and welcome to a new edition of equal africa, deed abuse, environmental magazine. my name is sandra tween are you.

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