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tv   Business - News  Deutsche Welle  November 8, 2022 12:15am-12:31am CET

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you 1000000 are great, then let's get a reminder of our top story. just before we go, the ones called 27 climate conference. german chancellor, olaf sholtes pledged more international support for climate aid for the 1st time in the climate summits. history getting wealthier, heavy polluting nations to provide funds to climate vulnerable countries is on the agenda. attorneys update as our stay tuned for the business headlines and coming up next thing . making the headlights and what's behind them. dw news africa. this shows that faculty issues shaping the continents live are slowly getting back to normal. yeah. well, in the streets to give you in the report on the inside. our correspondence is on
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the ground reporting from across the continent, all the french stuff, the mazda u. d. w. who's africa every friday on dw? we've got some hot tips for your bucket list. ah magic corner trip hotspot for food and some great cultural memorials to boot w travel off we go with ah, twitter back tracks on staff lay off. some employees have been asked to come back, that's after new seo ellen mosque, let them go last week. what's behind the about face will go to wall street. also on the show, midterm elections are looming in the us where democrats could lose control of
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congress. what would a republican sweep mean for jo biden's economic agenda are corresponded in washington has more and will take you to norway, where an underground cemetery for unwanted greenhouse gas is taking shape. this is dw business, i'm christy plats, and in berlin. half of twitter staff was laid off on friday following ilan mosques, $44000000000.00 acquisition. but now twitter is reportedly reaching out to some of the employees that were fired and asking them to return. according to bloomberg reports twitter let go nearly 3700 employees by e mail. after mosques take over. some of those are now being asked to return as they were laid off by mistake. meanwhile, general motors and volkswagen are the latest brands to pause advertising on twitter after muskets acquisition. volkswagen said it is closely monitoring the situation and will make a decision based on twitters. if all evolution will for more on twitter activity,
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we go now to teddy austro on wall street. hi there, teddy back tracking on these lay offs. certainly not a good look for twitter now that it's under mosque. what happened here? what, what went wrong? yeah, it's certainly is a bad look, i'd say it and underscore is what appears to be pretty major chaos going on inside of the company. we are now entering the 2nd full work week of twitter under the ownership of you on musk and half of the staff is gone and it was done somewhat. have hazard lee. they found out when they couldn't get into their emails, they couldn't get into their slack, and dozens are being called back. right? saying they were mistakenly fired or they need them back to enact some of the new features. some of the new changes that you on musk wants to do at the company. now you could see this is just one perverse action done by an individual. but i'd say that this is actually part of a larger trend going on in tech of
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a major pullback going on right now. okay, well teddy, larger trends and tech exact next question. i want to ask you meadow. we know it's also gearing up for math last week. tell me about that. yeah, well the wall street journal is reporting from anonymous sources that we are about to see this week. one of the largest rounds of layoffs from the from meta and it's 18 year history. we're talking about thousands of employees being laid off. now there are specific issues related to meta, but really it does appear to be a part of a larger trend. in the 1st 2 years of the pandemic, we saw massive growth, massive acceleration, and many of these companies, higher up now, we are seeing with the threat of inflation on the threat of recession, federal interest rate hikes, a major pullback, major layoff as well. and we saw that most recently with lift and stripe, and we're probably going to see it further. that was teddy austria in new york.
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thank you so much for that analysis. we'll be checking with you tomorrow. well, monday was the final full day of campaigning before americans vote in their mid term elections. democrats, risk losing their narrow majorities in congress to the republican party. that would be a major hurdle for president joe biden. in the final 2 years of his administration . the white house has struggled to bring down skyrocketing consumer prices, caused by pandemic aftermath and an ongoing energy crisis. well, for more in this, let's bring in my college anal doom allow in washington, dc to now nice to see you. tell us how important is the economy to the mid term vote this year? well, christie, i cannot tell you how many times i've heard the phrase, the. it's the economy stupid in the run up to this vote. it's getting repetitive, but it happens to be true. the economy really has moved to the forefront of voters minds in this election season. and that's backed up by a pew research poll that shows voters are most concerned about the rising prices of
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food and goods of gasoline and of housing. now with inflation at 8.2 percent, voters are really starting to lay the blame for the cost of living crisis at the democrats feet, somewhat unfairly, as we know. because there are other factors that play like the war in ukraine, like supply chain issues that have led to the surging energy prices that we've seen . but it is, however, true that the democrats have fallen down hard on economic messaging, and that is expected to hurt them tomorrow at the polls. economy is certainly something we hear about every election, but inflation is definitely concerned this time around. so let's say republicans do sweep this vote, take back both the house and the senate. what would that mean for biden's economic plan? well, a republican victory would certainly insure complications for biden's economic plan, especially what his recent let legislative of victory is like the inflation
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reduction act this land bar, climate tax and health care bill. also parts of the infrastructure bill could come under scrutiny. now, while republicans won't be able to repeal any part of the law without running up into president, jo biden's presidential veto. what they might be able to do is make their implementation very difficult. we might be facing again, the kind of obstruction ism that we saw in the late 2 thousands with obama and obama care. we could be seeing government shutdowns subpoena as endless investigations into funding. republicans will say that it's all in the name of oversights, but are given at dod saw republic. a republican victory is a distinct possibility. democrats are probably bracing themselves for these developments to now. dom allow many thanks a new trade war between the european union and the u. s. is in the air. the u. s. upset about jo biden's inflation reduction act. the $738000000000.00 act aimed to boost clean energy and
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reduce the cost of prescription drugs in america. it also includes tax breaks for electric cars and batteries, but only when they're made in the usa. brussels says those benefits for american vehicle makers would put e cars made in the u at an unfair disadvantage on the lucrative u. s. domestic market. u. s. president joe biden is on a last minute campaign to her in heavily contested districts trying to head off democratic losses in tuesday's mid term elections. and he talks about the issue most on voters minds, inflation. we also know folks are still struggling with inflation. and so our number one priority, that's why with my children scotch off i shot inflation reduction act to bring down the cost of everyday things and we talk about around the kitchen table. but the act is raising eyebrows in europe and asia because it includes a $7500.00 tax credit for americans who buy an electric or hybrid vehicle. but only
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when it rolls out of a north american factory with domestic batteries. it's no problem for tesla g m or ford. but it's a big problem for manufacturers like toyota, hyundai, and b, m w. the german car maker has 8 electric and hybrid models, but only the 2 it makes in north america qualify for the tax credit next year. like cars made here and its spartanburg south carolina plant. but not the ones it makes in europe. its america 1st, at its worst, critics say the american inflation reduction act is a matter of concern, not only for france and germany, but also for all european countries. so we need to work on the adequate your pan and responses to this american inflation reduction act which might jeopardize to different thing field between of 2 continents. european officials threatened to
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take retaliatory measures against the united states on monday, calling the subsidies contrary to world trade organization rules. to avoid a tit for tat trade war, brussels and washington have set up a task force to try to hammer out a solution. the cop 27 un climate summit is taking place in egypt this week where delicates and policymakers from over 200 countries hope to rally a goal to avert the worst impacts of climate change and burning fossil fuels has increased the chance of climate disasters, and made the more extreme for decades norway has been extracting oil and gas from beneath the seat. now it aims to use this experience to put c o 2 emissions back in the ground d, w mac founder reports this building site doesn't look like much just yet. but the technology being put in place, your norway could help cool down the planet norwegian prime minister,
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eunice castille. that has come to visit. he has made this project a top priority towards 20132015. there's no way we can reach our targets without c c us. so take cement production. we will continue to produce the cement to take waste plants. they will be c o 2 that you can not do away with. you can capture it and you can store as safely that this critically important. c c s stance her carbon capture and storage. the northern lights project belongs to a norwegian government program, norway, in partnership with energy companies shed total and equi, nor today marks the opening of the visitor center visitors from around the world to be able to learn from the experience gained here in norway construction here again, we'll go on for one and a half more years. and after that, the goal of northern lights is to store $1500000.00 tons of c o 2 each year, underneath the seabed. the idea c o 2 from carbon heavy industries will be captured and brought to norway by ship. from here it is pumped out to see via pipelines and
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then injected into rock formations, 2600 meters underneath the sea bed. ready ready the technology has been tested in smaller industrial projects and norway since the mid ninety's or excess c o 2 is pumped back into the ocean floor, instead of releasing it into the atmosphere. back on shore, in the city of bagman. at the norwegian research center, scientists have been exploring the storage of you to go about despite critics raising the issue of safety researchers like sarah gast, i believe there is little to worry about. there's a lot of natural barriers under ground that keep it from coming back up again. then over time, nature sort of takes over and will eventually dissolve all that c o 2 and it will for minerals and these processes can take decades and hundreds of years. but the point is, is that nature will, will do its work and, and prevent that c o 2 from,
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from being released again, storing carbon underneath the sea could help slow down global warming. but to really have an impact. it has to be done fast. a reminder of the top business story were falling for you. this hour. twitter has reached out to some employees it laid off last week and asked them to return to work. the social media company initially fired around half of its staff, following its acquisition. i test the billionaire you on month. that's our show. thanks for watching. ah. with enable climate can actually end up harming the climax. why? because the time isn't subject to any laws,
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the regulation. the truth behind climate neutrality. close up with d. w. o t golf. what's going on with the day are good questions. you can find the answers here. all the games, all the goals. the point is legal highlights. 60 minutes on dw hulu with using can't be destroy what you can try, but it's impossible to move. ah,
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she performed for her life and oh, schmidt's. ah, was the nazi ah, to musicians who lived beneath the banner of the swastika, assume about the sounds of power in spanish story about survival. music under the swastika starts november 19th on d, w. all climate neutrality, fewer emissions stopping climate change. that's what everyone these days claims to be striving full. fremont outside the climate neutral climate efficient climate, whatever every term has climate at its heart is is i also think.

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