i'm with a quick reminder of our top story climate negotiations at the club. 27 summit in egypt have entered the final day with delegates struggling to reach a deal to mimic global warming. a surprise also from the you could see some movement on the issue of compensating countries bearing the brunt of climate change . i beg dw business with christy plants and i been present in berlin. it's a lot of exciting sporting terms, controversial political to where they're for youth with reports and background information. everything about the $22002.00 world cup starts november

20th on d, w. and we're interested in the global economy our portfolio d w business. beyond here, the closer look at the project, our mission. to analyze the fight for market dominance, is this is wes give ahead with the w business beyond with 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 claps 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 deed of your business, i'm christy platt. and berlin, millions of people across britain now face higher taxes and 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 dw as correspondent in london, big at mos bigot. how much will this budget help ease fears about the british economy being in major trouble? 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 rio wages. and the u. k. economy has not recover to prepare them 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, it will be clear that this is more, a long, medium to her 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 ta mile in the financial market. so just to be boring enough not to see, for example, the pound crash and that's their one big old there to have this out to restore

basically their credibility because the last budget and that was only a few weeks ago really brought that could their financial markets would a huge on ta mile and it, 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 more detail on, for example, a green transition bought by, by their own measure to you to one, 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 will it ultimately ease the cost of living crisis for ordinary britons? the cost of living crazes is very real in the u. k. and we have seen the feed banks who have seen there, the 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 and benefits. but people are 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 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 in london. thank you. while the crip, the current, the industry is bracing for further fall out from the bankruptcy of crypto exchange, f t x block fi and genesis 2. 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 regulatory, 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 changers. lisa, thank you for joining me. coin base has been relatively unscathed by this so far. how has the f d x crisis exposed poor practices and risk management within the crypto space in general though? well, there's no question that x, those are risk management 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 to pair crave . he hadn't 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 as it's not isolated case, even in traditional asset management, we have seen defaults occur from time to time, which can be traced to poor 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 currencies can be improved overall? it's an important question. so when this has been 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 and fiduciary that are holding customer assets in any form, whether that's fi on 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 criptos 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 so that you can feel competent and transacting in this space. so i think that we have a lot to look forward to is global regulators really look to what me to 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 alibaba 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 performance is widely seen as a gauge of sentiment in the chinese consumer sector, which is struggling as, as growth in the world's 2nd 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 to help 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 me on 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 $110.00 starbucks, darker starbucks 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 above their weight, and this will be a task of their fortitude and of the worker power petty 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 winds. this year's beaujolais, new vo officially goes on sale to day. the french read famously ferments for just a few weeks before being rushed on shelves. on the 3rd thursday in november, this years harvest was one of the earliest on record due to an especially hot summer wine growers across europe are trying to adapt to warmer dryer, growing periods, and wine connoisseur to say the difference shows in the taste that's all from us, thanks so much for watching. we'll see you tomorrow. with the end of the pandemic insight, we show what it could look like. return to normal. and we visit those. we're finding it difficult with success

in our weekly coven, 19 special. next on d, w. to the point in strong opinions, clear positions international perspective, russia has pulled forces out is the key ukrainian city of hassan. it's ramping up to missile attacks on critical energy infrastructure, leading millions of ukrainians without power after hassan, what russia strategic goals find out to the, to the point with d, w. ah, with that she's

said, can i get the country? i came up with an increasing number of women and less in america. i'm guessing i need to stop doing and depressing. net fighting against sexism, violence, and full access to abortion. pressure from the street has already proven successful . that opposition is on the rise beds up with menchie's. ah sauce, november 21 d w. ah . soaring inflation and rising fear. prices have worse, and the global economy already devastated by the covered pandemic. the challenging situation has inspired many people to come together and help each other cooking and .