installation visit by the dap in government delegation to the area on tuesday. it was the 1st such trip since a pace deal was signed. last month i aimed at ending a brutal 2 year conference. mother said, what was in still happening, you need fuel. and that's all the news for now. i'm anthony howard in berlin. good abbey company. and wherever you're watching have a good day and don't forget there's more to be found on have ranking, use up and on. social media handle unique. instagram. and twitter is at d. w. yes. ah ah ah, in the monday. oh, and

a lot you because i have a cool cool breeze. i live, but it was just me in the month. oh, ah. american energy giant exxon is taking the e u to court and saying it's windfall. tax against oil companies is illegal for get the word from wall street also coming up after a summer of shortage. now there are too many consumer tech ships on the market. producers are rating to cut production capacity. we'll find out why and prisons

cost of living crisis is pushing families to look for cheap of goods. now this snapping up expired projects to make ends picked. at that time again, the w business welcome. exxon is suing the european union in an attempt to force brussels to drop its windfall tax against oil companies. the tax is supposed to raise 25000000000 euros to help reduce energy bills. however, exxon believes the e, you doesn't have the authority to introduce such a task. tax. teddy austro has the story from new york force. teddy tell us why exxon is suing the in you. what's its argument here? well it's, as you said, exxon really is challenging the authority of the europe and commission to impose the so called solidarity levy. and it rests on a distinction between whether this tax is actually alleviating the energy shortage,

or it's just impacting the prices which have been crushing european consumers. now, exxon argues it is the ladder and therefore, the emergency that the european commission, that situation that it used to impose this tax without a unanimous vote. that means they did not follow the procedures and therefore it's been an abuse of power. this is what exxon is arguing, and i think it's important to mention that exxon, of course, does not want to pay its tax liability, which would amount to about $2000000000.00 euros. and this is during the year of record breaking profit. so this tax situation, it really is about eating into profits. exxon does not want that. ok, and what are the consequences that this could have if exxon wins and is that even likely? well, of course, the direct consequences would be that the european union would not have 20 the

$25000000000.00 euros that it would like to try to alleviate the price pressures on european to have been dealing with this throughout the pandemic. as well as during the ukraine war and now exxon of course is presenting and ultimatum saying if this tax does go through then well, europe won't be very competitive for their investments. they won't want to invest in energy infrastructure on the continent for the energy transition as well. now i would say this really has to do with setting a precedent because if this tax goes through, that means the european union and other sovereign nation would be able to continue with legislation like it. exxon does not want it. they want open season for oil companies. and other fossil fuel companies to be able to resist legislation like this and to protect their profits. we're already seeing more resistance in, in countries like italy with similar levies. and also potentially in spain or what a surprise, a big corporation doesn't want to pay more tax to the australia from new york.

thank you very much for wrapping all that up force now to some of the other global business stories making news. finland now has its 1st floating liquefied natural gas terminal. the f s r u exemplar mod wednesday at the southern port of income. finland was cut off from russian gas imports. earlier this year, the american owned exemplar has a capacity of 68000 tons of ellen, g, and a set to be operational from the beginning of 2023. in spain has passed a new 10000000000 euro economic age package in order to help ordinary spaniards facing mounting costs. under the plan value added tax has been removed. all lowered on many fruit staples, currently in force. rent and eviction controls are also being extended smartphones, games, console, pcs, consumer tech makers was struggling to get their hands on chips in the summer. but

now that's all changed with chip makers. warning as a glut on the market. consumers are buying fuel gadgets, leaving new tech devices to gather dust on store shelves. companies like h p and del say, they now have large inventories of products that are only recently were in demand micron, intel and am d, chip makers, all morning about high levels of inventory and consumer tech. i spoke to chris miller, professor at tufts, university, and author of the book, chip war, the fight for the world's most critical technology. asking him why the sudden swing from famine to feast will. the cycle certainly has turn for most chip maker is especially companies that produce consumer products like p c or smart phones. be incredible. surge of demand that we saw during a pandemic has now let up. and for many companies, there's now over supply both of consumer electronics and the chips that go in as

we've seen over the past couple of months, the number of companies and i think cuts and capacity. and also in some cases, job cuts as companies, i'm trying to adjust to this new dynamic of over supply. but it's worth noting that only certain types of chips are in fact over supplied. and so for the types of semiconductors, they go into autos, for example, we do see some signs still of under supplies. so it depends a lot on which type of chip you're actually looking at. ok, so let's step back and look at the broader context a little bit here. so the u. s. in europe a trying to up the game when it comes to chip manufacture. as we know, tie one currently holds the vast majority of capacity for the highest level chips, the most powerful chips. how critical is this? is race for computer chips for the u. s. is future for your future? would you say? why think there's no doubt that some i, conductors are going to be critical components of all aspects of the economy going forward. it's not just consumer devices. it's also the data centers in which

a systems are being trained. the data centers are nothing more than buildings full of semi conductors, so they're important going forward. but it's really important to also distinguish which types of chips different countries are producing. when it comes to the most cutting edge ships, the ones with the processing power to run, i systems, for example, it's really only taiwan, south korea, and the u. s. that have the capability to produce them. and so other countries are looking at different types of chips and they're planning to increase their domestic capacity. and so there's not just one ship race underway or one ship war between the different countries, but actually multiple different struggles at different countries. and companies are competing in, so will this push by the u. s. in europe, when them off taiwan entirely in the mid term, especially when it comes to a high level, let's say phone on me to 3, not me to chips. what would you say it unlikely to happen, even the u. s, which is a lot more capacity at the cutting edge of processor chips is likely to remain

quite reliant on taiwan produce chips for some time. and if you look at the new production underway, both by us firms and also taiwanese firms in the united states, only a small amount of volume that's calling on line relative to what the us buys from taiwan today. and if you look at europe, it's even more dependent on taiwan and south korea when it comes to the most advanced processor chips. so for both the u. s. in europe reliance and taiwan assumption is likely to persist for some time. chris miller speaking to us, they're well moving on. we're all generally aware that the expiration date on food packaging isn't an iron clad rule. often times package, snacks and drinks are perfectly good. well beyond that date, that's an important distinction in the u. k. at the moment, food bills are rising, eating into household budgets and making food banks more important. but food banks cannot accept or give out expire products, leaving a gap to be filled. take

a look salty chips past their expiry date, honey mustard, also a bit older. everything here is expired, everything here is cheap. that's dan parts. los business idea of their house near birmingham is bursting at the seams. in the u. k, the market for expired food is booming. 7 years ago it was something 30, something that big luggage done because so i wanted to save money on my return. you didn't have the disposable income. we're in the loss of news. we've sent a big shift. most customers receive the product by meal. keith mccallion picks it up himself, ships soda and chocolate for his grandchildren. food prices have gone up in the u. k by around 11 percent. i think there's no doubt about it. people will. it's really hidden. everybody i see in my line of work. people are really,

really keep the line a penny. so 1st them, it's all about saving money for others. their primary goal is to reduce food based . dan has about 16000 items in his collection. a delivery has just arrived with assorted supermarket goods. dan also acquired snacks with incorrect labels or from food banks that cannot distribute expired product. it's also crazy example of a bus before by february 20, so where a clear air freshener of this quality isn't gonna degrade down doesn't sell anything fresh. only packaged goods. the quality check takes place in his office kitchen. so ships from 2021. mccarthy till quite chris. i still perform the best seller though, is this t 2 and a half years old? the box usually goes for about 17 euros, and here it's available for $0.70. for perhaps you know, to stay in the cosmetic,

i'll organ oil has been used for centuries for skincare. now its popularity and a drop in production is driving prices are extracted from the seeds of the ripe berry fruit of the oregon tree. argon oil is world famous for its qualities and has become a house where name for hair and skin care. the oil finds its home in the southern region of morocco. however, a decline and production resulted in an increase in price. jo, how the, how early before corona, we used to produce about 10 tons of ogden oil. but after the pandemic, we started producing $2.00 to $3.00 tons and due to the high cost of the raw materials, it's price, which was approximately $60.00 durham as it is now about 100 darrow michigan. but even yacht would letting that there are 2 varieties of argon oil. one that we find in many cosmetic items and another which is edible. these qualities make ogden oil very attractive yet years of drought,

very little rain shortage of workers. and middle men with much power threatened oil production system. those were part of the industry in morocco, fear that they may not be able to justify the climbing prices for the oil. but with many market research as optimistic arguing oil may still be in your life. just a little bit more expensive than it was and you're up to date with the d w business . thank you very much for watching. innovation is ready to lift all progress and science will turbocharged the economy with lightning fast quantum computers and climate change resistance super plans. we take

a look at high flying technologies in our review. everything that matter is not made in germany. o d w into the conflict zone. the conflict in ukraine is only one of the was vladimir putin is fighting. who didn't, chief target in russia has been like say about me, my guess this week your next island london is one of the valleys associate. let me me, i shook up the group, is made me and shaming thousands of officials supporting more in ukraine for how far will that dent hooton's power conflict zone in 60 minutes on d. w. oh, we've got to understand the globalization works, but he does not reach more than 30 percent of the world population. very simple.

that facility that's very convenient for the chinese, after all the port, maybe for very excuse with the mediterranean, as potomac, kind of great sarcophagus. if anything he was proud of, it was to be a steal worker, like his grandparents and his parents. this is his business to come here for life. well the winners and losers. globalization, where do we stand? starts january 5th on t w. o. ah, ah, ah. the world doesn't lack for complex problems. think of the 1000000 variables involved in tackling climate change.