to you as president joe biden has praised his boss is better than expected results in tuesday's mid term elections. with a number of contests, still undecided, it's still unclear who will control congress and with the democrats will be able to advance beth political agenda over the next 2 years. as if you're up to date, i'll have more world years to the top of the our business news is next. i've got a spectacle in an improved world.

the meeting of the little wheel sharks, the remote island of say a testament to the quality of the waters. one of the many success stories from a bastion of biodiversity say don't starts november 18th on d, w. mm ah, the u. s. mentor elections have delivered some surprises, but several seats are still too close to call. our correspondent breaks down how pivotal the economy has been in the results so far. also on the show, 11000 jobs acts that meta as the firm, struggles with costs and

a weak advertising market will get the word from wall street and feeling pressure from the communist party, taiwanese producers and china consider moving production abroad. hello, i'm chrissy plots, and in berlin, this is the w business. after voting in mid term elections on tuesday, americans are still waiting for the final results of key races that will decide which party holds the majority in congress. and what president joe biden can accomplish over the next 2 years, republicans had counted on high gas prices and inflation pushing voters into their corner. our correspondent, washington d. c. janelle de allow, has more thank you, christie, anyone who is watching the results of these midterm elections come in, can see that the much forecasted read wave is not in fact happening. given that inflation and the economy where the top of mind for voters in this election, does that mean that voters are in fact happier with how the democrats have handled the economy than initially thought?

well, no, not necessarily. the democrats are still poised, lose the house. the race for the senate remains tight. all that means at this stage is that the democrats are not losing by as much as they could have. also, the absence of a red wave could perhaps indicate a more nuanced collection of voter concerns. one, where access to abortion and climate change also play a role alongside the economy, especially in the minds of the young voters. but with inflation at 8.2 percent. and the risk of recession practically on the front steps of the united states. the challenge remains for this incoming set of lawmakers to find the correct policy mix to deal with these unprecedented economic circumstances. and it's back to you in berlin. christy. thanks for that to now. so facebook parent company meta has announced it'll flash around $11000.00 jobs, met his boss, mark zuckerberg says the massive job cut amounts to 13 percent of the company's workforce. the company said the math lab will affect its research lab focusing on

the meta verse as well as apps which include facebook, instagram, and what's app. it is the biggest job cut in the history of the company. well, for more in this, let's bring in teddy austro on wall street. he, what does this mean exactly for zuckerberg, big met averse ambitions? well, christy, it does appear that meta has chosen the met averse over the 11000 employees that were just laid off, truly staggering number layoffs that will be across the board of the company. but specifically in the recruiting and business teams. now zocker burke says that this is a result of an over extension by metal over the past few years. massive growth, massive hiring. and this is a tell we've heard across the tech sector. now that there's this major pullback, and we're seeing a number, a number of rounds of layoffs around the industry. but another factor that's to be taken into account is the staunch support for the meta verse,

billions of dollars spent on it. despite many consumers, many investors, and even employees within the company, believing that this isn't necessarily the future of the internet. this is, of course, not what mark zuckerberg beliefs. teddy austria, thanks so much. now to some of the other global business stories making, this bitcoin tumbled more than 5 percent on wednesday to its lowest level and almost 2 years top of investors. mine's the financial help of a major crypto exchange, f t x. even with the rest of the rescue deal from bigger rival finance in place, the company agreed to buy parts of f d x to help cover a liquidity crunch at the rival exchange. thousands of great public and private sector workers went on a day long strike for lower taxes and higher minimum wage. that's the soaring energy prices, push up the cost of living fairies stop sailing. schools were shot and hospitals

were running with reduce staff. the monthly minimum wage increase is $700.00 euros . germany has blocked the sale of 2 technology companies. important to chinese investors almost semiconductor and ers electronic. berlin is toughening its stance on foreign attempts to scoop up critical assets. semiconductors are core components in the manufacturing of computer chips. while the german government's panel of independent economic advisors has forecast that europe's biggest economy will enter a recession next year. the 5 member panels report recommends keeping nuclear power plants on the grid as the country faces surging energy costs. they also propose a so called energy solidarity tax on high earners to help the government fund relief measures for those who need them. in a press conference about the report, councilman met council member, dr. monica chanitha said the energy crisis is making all of germany poorer. i spoke with her afterward and asked what she meant by that. well,

we are importing gas on other kinds of and achieve from russia and from other countries and did you to all the shortages. the prices have increased the lot. so whatever we employed now, we pay a lot more money and that means as a country we have become poor because we pay more to other countries. now, at germany is home to several energy intensive industries, chemicals, glass, et cetera. what does the loss of cheap russian gas mean for german industry in the mid and the long term? well, we will see you and that she prizes to go down again the same for gas on, but the prices won't come down to the level that we had before the law. and therefore those companies that really rely on cheap gas. they will have a hard time how hot the time would be for them. that also very much depends on the margin they can make. so, to what extent they are faced with competition,

competition from outside the european union, because it's those other regions, like the u. s. in particular, that's a benefit from lower gas prices, so that will be the decisive factor. does russia have a role to play as an energy partner for germany or europe in the future? well, that very much depends on how this whole situation will be resolved. but i'm sure that whatever the solution will be, that russia will never become as much as a supplier, as it is right now. because one thing we have understood now it's not a good idea to become totally dependent on one country to that latch extent. so say the solution is there would be peace and things would turn out to be more normal than perhaps something like embodying 10 percent would be something people will be able to discuss. but at the moment, this is completely out of the question. now you and your colleagues mentioned

solidarity i in terms of, in europe, in germany, in this crisis. what does that mean? why be see that? now a lot of relief mesh as i take and the government wants to support. so people who cannot afford these high prizes, but so far we don't have the right instrument. that is that allows us to target exactly the group of people that is paula and cannot afford this high price or so we leave will be given to everyone. everybody will benefit from the measures that are going to be taken, and that means in order to balance this whole package, all one should ask those who can afford these high prizes to show it a bit of the burden by for instance, for some time, for a year or so pay higher texas. how can germany manage an energy crisis and at the same time the climate crisis? is it acceptable for example, to build out fossil fuels like ellen g, when we need to focus on reducing carbon emissions? we all have as expected to use small gas

o to replace code. that was the transportation that be invisible to on. at this point the problem is we have gas and we have to use color to replace gas. that is very unfortunate about it's only father shaw tom and perhaps the ne jim tom and we do have to focus on new extending allah renewable energy. and that has to be the focus of whatever we do. monica spencer. thank you so much and growing number of taiwanese companies are looking to shift their businesses and supply chains out of china. that's due to uncertainty is crated by china's 0 covered strategy and rising geopolitical tensions between taiwan and beijing. d. w . pollen, wang reports. all kinds of footwear are displayed on the shelf in the showroom. they are all produced by a taiwanese shoe manufacturer in the city of ty, john, one in 5 pairs of football boots globally comes from the company or chin day.

currently we are producing nighties, mercurial football boats, which will be seen at toward couple higher even another product as predator football boots from i did us. the new generation will be unveiled at world cup to day to go to town. candid making football boots is complicated. it involves raw materials for many different suppliers, labor and shipping. but the pandemic has led to global supply chain disruptions in by the client understand the situation is challenging, that they will schedule product orders when major cities are in october. we have to make arrangements because many materials are imported from china fully. after china ramped up tensions with tie one, he made taiwanese business men like patrick chin and company, spaced in the mainland. china feel like they're walking on the fine line. a survey conducted by center for 30 take and international study, so that most high one is friends doing business in mainland china have moved all

plan to move some manufacturing or sourcing elsewhere. the survey also reflect the military conflict with the leading concert, even before china launch. drill o g, she to china's president sheet him, he has secure a historical 3rd turn as communist party leader to lead deputy c o. at john plot, institution for economic research believes is a wakeup call for businesses to cleared high song puzzle. punching by most businesses in mainland, china will follow a so called china plus one strategy was a wineship toward in other words, haven't, i don't, they will maintain a certain amount of production capacity in china either and look for another location to set up a new production line outside china and that you with low labor costs and trade agreements with many countries, se asia has become a popular location for international firms in recent years. we're, we're luck. i don't want to walk away and i've told many people that have you ever

been cut by a knife? if so, am bullets hurt even more than that? i can tell them either little and i think a benevolent ruler or an entrepreneur should always think about the next step. instead of only focusing on the present decision, patrick chan says their factory, indonesia should be ready by 2025. meanwhile, his next step is also looking forward to expanding production lines to europe anyway. that's our show i'm christy. platinum. berlin, thanks for watching with ah, renewable energies, an electron mobility dependent on the battery industry can maybe produce sustainably? absolutely. says europe. what about our own material minute,

and what are the alternative for electricity storage? made in germany next, on a d, w. sweden, of virtually infinite forest landscape. but looks are deceptive years and the 4 stations threatening the woodland. but protest led by green peas and local reindeer herders are proving successful. and now many trees are left standing. focused on europe. in 60 minutes on d. w with hello guys. this is the 77 percent the platform for

africa. you beat issues and share ideas. you know, or this channel we are not afraid to happen delicate topic because population is growing and young people clearly have the solution. the future belongs to you is 77 percent every weekend on d w ah, ah, ah, what happens when people leave their home countries to go work in another? that's the big question will.