and, and, you know, increasing use of, i come by the ammunition and what i just described in terms of the kind of deployment of troops is just that the government is struggling with actually managing and controlling the spread and intensity of the protests that was come, run martin, they're speaking with me earlier from the university of sussex. you're watching dw news up next, the w business news with christy plants and i will see you tomorrow have a good evening with people and trucks injured one trying to flee the city center. more and more refugees are being turned away. order the families, enrollment theory for the credit on its way located demonstrate people being screened around

getting 200 people from imaging around the world. more than 300000000 people are seeking refuge in the line because no one should have to flee. make up your own mind. d. w. made for mines. ah, ah, a new budget for britain. and it looks like it means higher taxes for millions of people and for energy producers will get the details from our london correspondence . also coming up the collapse of major crypto exchanges. spooks markets, which we'll hear from one crypto executive who says the industry would welcome more

oversight. welcome back to another d w business. i'm christy plats and in berlin. millions of people across britain now face higher taxes in energy bills after the government announced an emergency budget that's meant to tackle inflation and restore credibility on markets. finance minister jeremy hunt said the $55000000000.00 pound package of tax hikes and spending cuts will show britain is committed to paying its bills. the budget also calls for a windfall tax on energy companies. this comes just weeks after his predecessors spark market market panic by calling for tax cuts without saying how they would be paid for. well, for more now we cross to d w as well. the fact is that the u. k. economy is really not in fantastic shape, so we're having inflation over 10 percent. ordinary people have seen a squeeze on their real wages. and the u. k. economy has not recovered to pretend i

mean levels as yet, and is actually ferrying worse than other g 7 nation. so when the chance less announcing that it's all about stability and growth, for a lot of people who will be clear that this is more, a long, medium town plan and nothing that for them what happened in the near future. now it was the budget that caused the last prime minister to leave office. what's different this time around? well the new government out wanted to you and she had one big objective and that was not to cause tamayla end of financial markets. so just to be boring enough not to see, for example, the pound crash and that's their one big goal. dare to have this out to restore basically their credibility because the last budget and that was only a few weeks ago really are brought are they could, their financial markets would a huge on ta mile and it brought down the whole government. so by that measure of

that has been a success we haven't seen, for example, the pounds, sterling, humble. now what we haven't seen is would some people would have hoped on that more detail on, for example, a green transition bought by their own measure to you to want to restore credibility. yeah, i think it was boring enough to achieve that. certainly. well, i mean, you said that this budget is really going to be more of a medium long term. i sort of results, but well, it ultimately ease the cost of living crisis for ordinary britons. the cost of living crisis is very real in the u. k. and we have seen the feed banks who have seen there that people queueing on just of just many, many more people having resorting to, to the help of food banks. people were a while in work, and that's really new. so the most vulnerable in society, they will be protected by this budget to a certain extent pension, as for example,

and also those on benefits. but people on low income and that could be nurses, for example. they will see because of the rising inflation, they will see their wages continuing, their real income continuing to be squeezed. so and no, i think the cost of living crisis will continue to be a problem for many ordinary written for, for a while to come. while we're certainly check back with in your back with you on that in the future that was big at mass and london. thank you. well equipped the current, the industry is bracing for further fall out from the bankruptcy of crypto exchange, f t x block fi and genesis to firms with exposure to f t x or it's trading firm automator research have suspended customer withdrawals. f t x new ceo said there had been flawed, regular regulatory oversight and a lack of corporate control of the exchange. well, the scale of the fall out from the f t x collapse continues to reveal itself for a look from inside the industry. i'm joined now by alicia hops. she's the chief

financial officer of coin base, one of the world's largest criptos changes. lisa, thank you for joining me. coin base has been relatively unscathed by this so far. how has the f t x crisis exposed poor practices and risk management within the crypto space in general though? well, there's no question that tech success purpose medical practices for f t x. so today's bankruptcy filing, there was a quote from the new ceo of f t x that in his 40 years of experience compared to crave, he had seen a worse control environment. so i think that this is an important lesson for the industry on the criticality of risk management. and i mean, it's taken a fundamentally different approach to then these unregulated offshore exchanges. from the beginning, we placed an emphasis on responsibility on being the most trusted on investing in risk management and controls. and we're really proud of where that positioned us to be able to navigate the storm. as a publicly traded company,

we place also additional emphasis on transparency and security. customer funds are not sent anywhere. unlike financial decisions, we do not lend out customer funds. they're kept 100 percent safe in native units for the security of our customers. so well, f tech's not an isolated case, even in traditional asset management, we have seen defaults occur from time to time, which can be traced support, risk management. so we really advise investors and participants of the ecosystem to take a closer look at who they're interacting with and what investments they're making. well, as you just said, coin base has really sort of been a leader in terms of creating trust in the crypto space. but we'll, if we look at what this collapse has done for crypto in general, how do you think trust, encrypt currency can be improved overall? it's an important question. so, when this is lynn leaning into regulatory clarity simply are founded. and i do

think regulation is a critical part of building trust with centralized intermediaries that are serving a fiduciary that are holding customer assets in any form, whether that's v odd or crypto. and so i think that this will be heightened expectations to derive regulatory clarity for global consumers. and we're really looking forward to that outcome. i also think that this is a moment for crypto to pull together and really innovate on more cryptographic proof as well. and that is something that we look forward to be leading, voice and well hopping off of this regulation point. what would a well regulated crypto crypt currency market look like in your eyes? so i think that we can look to the us, what was passed with mika is a really currently the gold standard of global crypto regulation. so it's purpose built for digital assets. it provides clarity of the rules. it provides transparency and what disclosures are required to the user can feel competent and

transacting in this space. so i think that we have a lot to look forward to with global regulators, really look to what has done, and i hope that other countries will follow suit. that was coin bay, cfo alicia hoss. thank you so much for your insights. thank you. now to some of the other global business stories making news, china's alley bob, i lost nearly $3000000000.00 in the 3rd quarter. the company has reported. the e commerce giant has been grappling with an economic slowdown and an, and an anti monopoly crackdown. pardon me, ali baba's performance is widely seen as a gauge of sentiment in the chinese consumer sector, which is struggling as, as growth in the world. second largest economy, sputters german industrial giant, siemens doubled, it's net income in the 4th quarter. according to company reports ending its fiscal year with 4400000000 euros and profit. strong growth in order in order has helped the company raise its profit outlook for the current fiscal year. shares and the

company jumped more than 7 percent at the beginning of trading. while workers at more than 100, starbucks stores in the u. s. have gone on strike. they say they're seeking better pay more consistent schedules and more staff for busy stores, stores and $25.00 states planned to take part organizers said it's their largest labor action since a campaign to unionize. starbucks began late last year, and it comes on red cup day one of the companies busiest days of the year, where customers get a free re usable coffee cup. well, for more than that, let's go to petty officer in new york. teddy, no pumpkin spice. lots for you today. what are these strikes about and why today? well, it is, as you said, the busiest day of the year for starbucks, but it also happens to be one of the most stressful days of the year. use me, i'm on camera. it is also one of the most stressful days of the year,

given that the working conditions, what the influx of customers. well, it's very, very tough according to starbucks workers, and that is why we are seeing the red cup rebellion. this is over a 110 starbucks darker. so starbuck stores around the country are on strike. and it is not only because of these conditions, but also because the starbucks workers union, which has unionized over $260.00 stores around the country, really leading the uptick and labor activity around the united states. they say that starbucks is not coming to the table to bargain fairly. they say that they will not let starbucks workers see, sit in on those talks over zoom. right. looks like your buddy. there hadn't had a coffee yet today. so do you think starbucks is going to concede to these workers demand well, it's hard to say the workers certainly hope so in their clearly being strategic, right? they're hitting them where the money is on one of the busiest days,

but it should be known right at starbuck. multi $1000000000.00 company has spent a ton of money trying to crack down on the union. the n l r b, the national labor relations board has even charge the company with breaking the law, saying that they're firing union activists, which is against the law, but also a number of other actions, right, that they call union busting, closing stores that have unionized as well, as flooding stores, the supervisors, perhaps trying to intimidate workers into not voting for the union. now this is certainly we're seeing the workers try to punch of their weight, and this will be a task of their fortitude and of their worker power. teddy auster, new york, thanks so much for that. while moving from red cups to red wine, it's a big day for one of europe's most storied wines. this year's beaujolais, new vo officially goes on sale today. the french read famously for mense, for just a few weeks before being rushed on shelves. on the 3rd thursday,

november this years harvest was one of the earliest on record due to an especially hot summer wind growers across europe are trying to adapt to warmer dryer, growing periods and wine connoisseur to say the difference shows in the tast. that's all from us. thanks so much for watching. we'll see you tomorrow with my power is my wars says journalist patucci jen gets it has been for years since the murder of her fiance jamal kush ok to this day. the crime has had no political fallout. minimum di continues to fight for him. the journalist who was silent, who focus on europe. next on d. w,

is the end of the pandemic in site. we show what it could look like will return to normal and we visit those who are finding it difficult. a successes on you know, weekly coven, 19 special in 60 minutes on d, w. o. you become a criminal pre climb ai. already know those kind of to take talk with them about hackers and paralyzing the tire societies.

computers that out sure. you and governments that go crazy for your data. we explain how these technologies work, how they can go in for, and that's how they can also go terribly. ah, watch it now to a with hello and welcome to focus on europe. it is nice to have you here with me today. ukrainians are celebrating a huge.