no how ukrainian tax workers are keeping their id sector running, even from afar and criminal charges for the crypto king for mercy. oh, of crypto currency exchange, s t x. them bagman freed as appeared before a you asked court after his arrest in the bahamas. this is the w visits i'm done now than while our unwelcome european union energy ministers failed yet again to strike a deal on a block wide cap on gas prices tuesday night. for countries like belgium, italy and poland are demanding the measure, which they say would shield their citizens and economies from high energy prices. but that to put them at odds with germany and the netherlands, who worry that gas supply will simply bypass europe and go to buyers prepared to pay more. the ministers hope to be able to reach a deal at their next meeting on december 19th. carol nacley is the

ceo of crystal energy. welcome carol, can you tell us why it's so hard for you? energy ministers to agree on this gas price cap? hello, i mean the price scab on natural gas within the u has been quite a sony issue where governments are not a lie and in their view is for different reasons, including their dependence on natural gas, the importance of natural gas in the economy, their overall attitude towards government intervening in market mechanism and putting a cap. and also there is the fact that the opponents of the price scab cannot really find a sensible, evident, even there was even those who are for the price scab. that even if they agree on the principle of the car, they cannot agree on the level of that cap. so at what, what triggers what level of gas price we should see out there that should trigger the price gap and this is i thing,

why are we getting all these divisions and controversy is, was in members. but in the last meeting that you had, i think we are getting more positive signal that you are closer to reaching an agreement on the price gap. how should they go about it in a way that makes sense? if he were to design the gas price, kept their self. how would it look like? i wouldn't design one to start with. i would leave it to the market. i know this is economist speaking and not a political solution because you do have people across europe and elsewhere struggling with high gas prices and government feel the need to intervene to is a pressure the economic burden on the electorate. and also try to appease inflationary pressure, but we are seeing that inflation has started to slow down and some major economies . and actually things may take away from august to clear, but markets tend to be much more efficient than governments as solving a crisis. so i fear today was government, try to

a model was in pricing mechanism and entering relatively new territory for the u. that is much more complicated than easier said than imposing just a price cap on, on gas marcus. but i did as i understand the political rational, but economically speaking a few, there will be lots of hurdles not only in the short term, but also in the long term. so do you think this is a tokenistic move and gas price cap actually won't make that much of a difference. it depends on what kind of prices we're going to see out there in the market. if they are going to be way above the price guard, because mind you, you would expect gas prices to spike $1.00. for example, we have very called a blast. for example, we saw in the u. k this week, for example. so that by says it's quite normal to see it price spiking during the winter season for natural gas because people want to use more heating, they want to use more electricity, and the prices are increase more in countries that rely greater on

a natural gas. but how long would that spike would stay? that would determine whether the price gap would be effective or not? it's going to be toothless because if you have a price gas gas price above that price kept for a longer period, then yes, you can say that the cap is effective. but if it's going to be just a matter of few days and then it goes below the price, then what's the point of having that price gap? a complicated mechanism and success is not assured carol nacley, she's the ceo of crystal energy. thank you so much for taking the time today. thank you. you cranes tack workers are still very much hard at work. despite the hardships a war, many companies in the sector are still receiving contracts and a show of solidarity from clients that has thousands of i. t workers who flight the fighting, also signed up money home to help the country finance it's defensive efforts against russia. lou harkey shortly after the initial russian attacks in

march. never since the war came to ukraine, telecom experts are trying to repair cables and connections under difficult working conditions. whenever there's no electricity, they'll have to get by with flashlights and rely on help from colleagues abroad. noticed no marker, mostly our main problem today is that with no electricity and no network and we are no longer connected to all workers, not and many of our people are working in. hark, if bush and we don't even know if they are safe, then we're used to ah, that's why most 80 businesses have pulled the employees out of hockey entirely. one of them is natalia salem, aka. she's running her company's hockey office remotely from the polish city of

krakow virtually connected to 1400 i t specialist. every morning she asked how they're holding up the all keep doing our best we understand that we have to outperform, to make sure that the are, are successful and be able to support our country. yeah. yeah, i just wanted to show you a one of our best friends of these days work. i don't have electricity right now, but sir, the generator is working. the star link is working. there is some problems in here with electricity and water, for example, at my home. but there is no problem in office. so everybody gains do are good to keep on bad today and yesterday also here is the light. here's the coffee. so we keep going. this is what they'll worked, looked like before the war when 250000 ukrainians were working in the i t. the

business had been booming for years. even growing by 23 percent this year. the year the war started, hospitals were among those benefiting we invest in the nate a lot in defense of andre, so we beneath harkey, we id be within a while than $1000000000.00 grieving us. and we continue to do it. oh, the fact they're still able to do this proofs. one thing ukraine's i t sector is more resilient than most people knew. now to some of the other global business stories making news. germany's recession is expected to be milder than previously predicted. that's according to economic research institute e, phone analysts, their expect germany's economic output to shrink by point one percent in 2023. that's less severe than the point 3 percent previously predicted. britain's

inflation has fallen to 10.7 percent in november and fits at a slightly lower level than many had feared consumers continue to pay much higher prices for food and energy. though economists are still expecting the u. k. to dip into a recession, the world's largest tourism operator to we is expecting to soon return to profitability. strong bookings in the 2nd half of this year help the company cut its annual loss by 90 percent to come out of a pandemic slump. bookings for 2023 are expected to be solid. goobers, food delivery platform in spain has agreed to pay severance to more than $4000.00 drivers. it fired in 2021. that's after the introduction of a new law in spain that forced food delivery companies to hire couriers as staff. instead of self employed contractors, now the collapse of crypto platform,

f t x has rocked the trading community around the world. after being arrested in the bahamas on tuesday, the former f t x boss is facing criminal charges. sam bagman freed has denied knowingly committing fraud. now that claim could be tested in the us courts from the pinnacle to the pit, sam, bagman fried the disgrace crypto tyco, was arrested in the bahamas. at the request of the united states seeking to charge him off to the spectacle of collapse of his crypto currency platform f t x. the 20 year old crypto celebrity became an object of attention last month, as he suddenly filed for bankruptcy as f t. x suffered the liquidity crunch. the company left more than a 1000000 clients unable to access their funds. the liquidity crunch was caused by a t x users pulling $6000000000.00 from the platform in 3 days. and it came after back mo fried secret, the mo, $10000000000.00 worth of f t x customer funds to another. one of his company is

called alameda research through a digital back door. at least one 1000000000 of debt has reportedly vanished completely. finally, on november 11th f t x filed for bankruptcy protection and mac mo fried step down as chief executive. the united states securities and exchange commission north has charged bank, min fried with orchestrating a scheme to defraud investors. bank when fried has previously apologize to customers, but said he doesn't personally think he has any criminal liability. earlier we spoke to nicholas dave and kind ask about the downfall an eft. he acts and asked him whether the story could shake the confidence of crypto traitors. one of the biggest things about f x is that it had gone for months and years saying we are the reliable company. we are safe, we are something people can trust. and a lot of people talked about the word. so, you know right now the fact that we're looking at

a bankruptcy where there could be potentially over a 1000000 customers who need, you know, have lost access or funds not to mention the other companies that kept their own funds on f t x. assuming you have to actually be safe. the ramifications are huge. there is definitely a lot more scrutiny. i think, of utter cryptic companies like f t x and a lot more question. the are a lot more, you know, uncertainty about whether or not these companies are indeed safe for consumers. and finally, eli musk is no longer the richest person in the world. his wealth has been cut in half due to the plummeting price of tesla shares, and his re sent twitter purchase. the serial entrepreneur lost the prestigious title to brenda arnold, the ceo of luxury group, elvia mich, that's according to the bill. bloomberg, billionaires and forbes index are, knows net worth is around $171000000000.00 is company on several brands such as the, your tiffany and the we've a tall and a reminder of the top is

a story we're following for you this hour. you energy ministers failed yet again to strike a deal on a block wide cap on gas prices. that's the thumb members of the block fear the markets could bypass the continent for higher paying buyers, putting their economies and even bigger trouble. and that's all for me. and of his team here in berlin for more you can always go to d, w dot com slash business. thank you so much for watching. ah, ah, with

ah, more aside, ukraine's technology sector continues to boom, with growth of 23 percent last year alone. ah, natalie, is it alma and her company herbal heart of the success story? how is this even pa, under conditions like a made injured with on d. w. is the end of the pandemic in sight. we show what it could look like will return to normal. and we visit those who are finding it difficult to success

in our weekly coven 19 special. every thursday on d. w. they breathe. ah, they have body and soul. the houses that dental leaders can construct for more than just building his ideas. bold and passionate. you have to be radical. that's a radical mean. go back to the roof. he is the son of jewish holocaust survivors. how lucky that i was able to bill to just present berlin because it's very closely related to me as a person who is architecture is a celebration of democracy and it's more buildings. the biggest thing in the world is the spirit in architecture of emotions. architecture

is kind of a mystery. believe me. it starts december 25th on d w. ah ah, this is d w. news line from berlin. russia launch is more drone strikes against the ukrainian capital. ukrainian forces either shut down 13 iranian made drones during the attack on key city center. also on the program trading large sums of cash favors in the european union. the charge against greek law maker eva kylie.