our ambassadors of peace, symbolic, he flying over to the palace every day and bringing lights, the lights of christmas time to foster understanding reconciliation and solidarity . right now, that's more important than ever before. geopolitical turbulence and economic uncertainty, not even holiday music and energy saving lights can keep them and tidy at bay from this year's christmas markets. ah, and that's all the nice for now. business use with daniel winter is coming up after so break. remember this more at the website of d, w dot com, matthew outs debit. with many foolish floods thrown out in the world right now, climate change very hot the story. this is my place,

the way from just one week. how much work can really get we still have time to go. i'm going on with foot 5th. his some scribe. a morning is like the up to date. don't miss our highlights. the d w program on line d, w dot com highlights. ah, russia opens a new gas field as part of its peasant to china. meanwhile, fresh export data shows a slight uptick in german business with russia. why? we'll get the expert for you and with holiday shopping. well, on the way we stopped to think about what happens to all the on one to yes,

it's our time again dw business blocker. we begin with russia. president vladimir putin has inaugurated a new natural gas field in east in siberia that will allow russia to increase exports to china. the kremlin hopes to augment gas sales, as it's european trading partners divest themselves. russian energy. moscow wants to boost guess sales to china. gas income is critical to the kremlin, to bankroll putin's war against ukraine. but until now, russia has had very little infrastructure to pump gas eastwood's. now putin has announced the development of what he said would become the largest gas field in easton, siberia, plus the infrastructure to export the gas. and eliza, the implementation of projects such as the co victor field, the power of siberia to the far eastern route will make it possible to increase gas supplies to the east to 48000000000 cubic meters 520-2588 1000000000 by 2030 east

to west. still, that's still not even close to what the west was buying from russia before the war ship with you because of his put in claims. the new guests field in the east coast region has recoverable reserves of 1.8 trillion cubic meters. that would make it around the 15th biggest in the world. ahead of gas prom alexa miller says that the co victor field is ready for operation and would soon begin pumping gas eastwards. russia is desperate to get the project on line as quickly as possible to replenish dwindling walk offers. but the projected timeline to build the infrastructure shows that regardless of the outcome of the war, the kremlin expect to russia will be cut off from western markets for a long time to come. and stay with russia fresh day to result, showing german exports to the country have increased slightly to 1200000000 euros and value in november. it's down over half on the same time last year,

but still higher than when sanctions began in march, i spoke to alexander littman, professor of russian politics at the for university of berlin. he points out that there's still plenty of trade not subject to sanctions. would example, a pharmaceuticals pharmaceutical experts are also down, but only by about 10 percent as opposed to the pre war state. it was one of the biggest export articles of germany to the russian federation. okay. and done, you know, the, so we've seen that and this is the amount as i round harvey since at the start of the, of the war, the invasion of russia in ukraine. and is this to be expected? would you expect this to continue to go down to, to stabilize? where is this going to go? that's difficult to answer because it massively depends upon what we're going to happen in ukraine, how the war is going to develop. and also how the general state of the world economy of the german economy is going to develop. so on the one hand,

a german companies did have long term interests in russia. but on the other hand, the russian economy is now ost experiencing what looks like a prologue to it long term stagnation. and this could massively reduce the interest to deal with russia regardless of the political situation. so it's difficult to tell. okay, i want to switch to energy now. so the, you agree, the gas price cap earlier this week, will this significantly harm russia in any way? what do you think? i don't think so. i mean, we have to be realistic, or most measures which you introduce is when the energy market, ah, go in to reduce rushes capacity to export with you the already reducing it now, by the actually, what's relevant for russia is the budget effects and budget effects given still persistent opportunity of russia to export gas and oil to other countries outside the europe or european union outside the united states, which are not part of the sanctions. m. so as long as russia has this capacity,

it still has a budget revenue at ease. so i don't expect their harm to russia to be big enough to really change though war developments while across that fits into what's happened today with the russian president, opening a new gas field with the goal of supplying china. how significant erase, specifically for russia, to what extent can it possibly replace the european market for russian energy? i mean, i don't expect china to replace european markets for russian energy. this is definitely not going to happen. and i also expect the price as russia is going to receive for its gas in china to be lower. and also the technology needed to, for example, sustained the exports to china. it also depends on european delivery. so things are not going to be easy for russia. but on the other hand, they're really relevant question for put into government. now is not whether you're going to replace europe, whether they're going to get enough money to maintain the government apparatus, the war machine and the control over the country. of this most likely is going to

happen. ok, so could be a strategically important even if europe isn't displaced there, alexander ligman, thank you very much for that. thank you. now to some of the other global business stories making use 100000. i t specialists of left russia this year as a horton to the minister for digital development in moscow. the start of the war in february and the mobilization and september, each triggered waves of departures. the majority fled to neighboring countries, including georgia, armina, and kazakhstan, to avoid the draft. germany's 1st import terminal for liquefied natural gas has started receiving fuel via pipelines from the ship hook, esperanza, the facility at vill homes. half mon, germany's north sea coast started its test phase a day earlier than planned. a floating terminal will receive l. n. g imports. converting the liquid back into gas for german pipelines and now it's time to check in with the word on wall street ends quarter is therefore as, as always,

hence consumer confidence or is the word today lifting the markets were, can tell us no, i mean the consumer confidence to reach the highest level in a month and what is making people happy is lower gas prices. so if you compare it to earlier the summer and americans pay on the national average about $2.00 less per gallon of a fuel than they paid in a june. and then on top of it, we also see it's still pretty strong a labor market. the lowest unemployment rate is bill almost at a 50 year low. so all of that combined actually led to this jump in a consumer confidence in the past month. ok. but the big question on everyone's lips is, of course, has to be, is this enough to give us some optimism to the american economy going into the new year? daniel, at least, is

a glimmer of hope looking ahead to but clearly, i mean all the effect that we're going to see from higher interest rates here in the united states. probably an increase in unemployment, probably less investment from corporations. that is going to put a certain direct on the economy next year if it will lead to recession. we don't know yet, but there was also another hopeful site. and we got some earnings reports from a nike. and they came in better than expected. partly also because all those issues with the supply chain, so that a lot of cooperation and had to deal with not just in the united states, going a bit more or a bit smoother. so the stock from nike, by the way alone, is up by about 30 percent on all of that together. also push the stock market higher in the wednesday session. so it won't won't be as smooth sailing in 2023. but there is a little bit of help when it comes to the supply chain and also that consumers so

far, still rather uppy. well, that's exactly what we want just before christmas, a bit of she has some good news. thanks for bringing that to it again, of course, and you christmas time is almost upon us here in europe and the u. s. as well. tis the season for shopping, of course, but also returns a logistical nightmare in and of themselves. refunds and exchanges. i'd nothing new for retailers, but online shopping has made the whole process a lot more complicated. what is wrong with this washing machine or these mattresses, or any of these large furniture items? well, that's objective. all these items were returned by customers and sent to this huge storage facility in the germans city of loon. by just one online retailer, it turns out online shoppers have all sorts of reasons for returning purchases and

couldn't afford her. i'm her one customer wanted to order a freezer, but accidentally ordered 4. so 3 of them were sent back. that's one example of product wars or large tv screen. some customers ordered them without realizing how big they really are. and then they find out they don't have enough room by the gun forester. every return, no matter how big or heavy has to be unwrapped and checked, was there any damage? are there any dense or scratches, or most returned goods can be re sold online furniture store, home 24 has opened showrooms, where customers can sit down and get a feel for the product before buying it. and the machine is them. i find it difficult when you're at home in your living room and, and you just looking at furniture on a computer screen. it's hard to imagine what the pieces really like. sometimes you just like to see it before you buy it. and i think, and i'm shown at home 247 percent of all purchases are returned. that's pretty

good. says the company for fashion retail as it can be up to a half of all items, a major problem and not just for cost about he now it is not in his out there. there's also in by the mental side to the equation, but very important each return as a carbon footprint. we have to pick up everything from wrap and pack it up. i have to move good coin and bother and lag. i'm having this return facility in luna has received less furniture since the company started sending fabric samples before customers ordered online. the firm is also working with manufacturers and advising on changes to packaging to prevent damage. while the holiday season will keep them busy, they are hoping for fewer returns next year. and it's almost time for us to go. but 1st, a quick check in on our top business story for you. president vladimir putin has opened a new natural gas field in easton, siberia,

the aim of allowing russia to increase its gast exports to china. as comes as german overall exports to russia, ticked up slightly to in november to 1200000000 euros. and that's it. you're up to date with d. w. business. of course you can find more on our website at d, w dot com slash business from me on the business team here. thanks for watching. ah, i'm more precise the new. i'm stronger and faster and more efficient and cheaper. your favorite products could be made for less money. eli musk. thanks. oh, replace you one day. ah, i see that you're not convinced,

but talk about it made in the next d w. ah, i have read daniel bernstein will do anything to prevent his children from going hungry. present brisson, that's not easy at the moment. the country that's actually rid food distribution that help the poorest. but the number of people in need is exceeding capacity. when will the government tell? focus on europe? in 60 minutes on d, w. o. a in many countries, education is still a privilege. tardy is one of the main causes. some young children work in mind.

jobs instead of going to class others can attend classes only after they finish working with millions of children, all over the world can't go to school. we ask why? because education makes the world more just i make up your own mind. d. w. made for mines with me. ah, i just love it. whenever i'm too lazy to take my bike to work or walk all the way to the subway station.