here and windsor team already a soon surgery in, and it means that i made it through at bay was still alive. that did that. oh, good rubens, 2022 a year with its fair share of highs and lows. now all that's left to do is cross over into 2023 and see what the new year has to bring your way into a $30.00 gift card. well, that's all for now. don't forget there's more to be found in our breaking news app . and on social media, the handle for instagram and twitter is f t w's a. mike, a local in berlin, from me, in the rest of the team. thanks for watching. ah, we've got to understand that 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 will be for very excuse with the mediterranean, as potomac, kind of great sarcophagus. if anything he was proud of it was to be a steel worker like his grandparents and his parents. this is his business, the company of all that lives. who are the winners and losers. globalization, where do we stand? starts january 5th on d, w. ah, ah, american energy giant exxon is taking the e u to court, saying it's windfall tax against oil companies is illegal for get the word from wall street also coming up after our summer shortage. now there are too many

consumer tech chips on the market. producers are rating to cut production capacity . we'll find out why. and presence cost of living crisis is pushing families to look the chief of goods. now this snapping up expired projects to make ends meet. it's that time again. d w. business, welcome. exxon is suing the european union in an attempt to force parcels 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. excellent. assuming the you, what's its argument here? well, it's, as you said, exxon really is challenging the authority of the european commission to impose this so called solidarity levin. 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 latter, and therefore, the emergency that the european commission, that situation that it use to impose this tax without a unanimous vote. that that means babe 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 it's tax liability, which would amount to about $2000000000.00 euros. and this is during a year of record breaking profit. so this tax situation, it really is about eating into profits. exxon does not want that. okay, and what are the consequences that this could have if excellent 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 an 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 for us 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 gee, and a set to be operational from the beginning of 2023. and spain has passed a new 10000000000 euro economic aid package in order to help ordinary spaniards facing mountain 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 were struggling to get their hands on chips in the summer. but now that's all changed with chip makers wanting. there's 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 all through the book, chip war, the fight for the world's most critical technology. asking him why the sudden swing from famine to feast? well, the cycle certainly has turn for most chip makers, especially companies that produce consumer products like p c or smart phones. the incredible serge of demand that we saw during a pandemic has now let up. and for many companies,

there is now over supply both of consumer electronics and the chips that go in them . as we've seen over the past couple of months, the number of companies announcing cuts and capacity. and also in some cases, job cuts as companies i've been 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 sign 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 europe's future? would you say? why think there's no doubt that so my 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 that data centers are nothing more than buildings full of so my conductors. so they're important going forward. but it's really important 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 in their 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 these high level, let's say for 9 am 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 on a volume that's calling on line relative to what the us buys from taiwan today. 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 us 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 in to 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 parker . those 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 freak flooded done because i wanted to save money on my retention didn't have the disposable income. we're in the loss of news. we've seen a big shift. most customers received the product by meal. keith mccallion picked 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 keeping an eye in the pennies. first some, 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 requires snacks with incorrect labels or from food banks that cannot distribute expired product. it's also crazy example of a bus before by february 22, where clear air freshener of his quality isn't gonna degrade down. doesn't sell anything fresh. only packaged goods. the quality check takes place in his office kitchen chips from 2021. mccarthy, dale, quite chris height still performed. the best seller, though, is this ti 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 skin care. now its popularity and a drop in production is driving prices are extracted from the seeds of the ripe berry fruit of the r again, 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 organ 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 city, is now about 100 dear own. i said you could have them, you would let in 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 and morocco, fear that they may not be able to justify the climbing prices for the oil. but with many market research as optimistic, ogden 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 superclass. we take a look at high flying technologies in our review. everything that matter is now made in germany on d. w. she's ukraine's 1st female train operator victoria coach. this has always been her dream job, but just a few years ago getting it was unthinkable. discriminatory regulations prevented ukrainian women from working in traditionally male professions. but the war has changed everything. i'm a focus on europe in 60 minutes on d. w ah, in decreased in questions

about life, the universe and everything to you the answer. well, in give it here. the answer to almost everything we're documentary series with clever, crazy, grand groundbreaking questions. can we go into the afterlife or are we getting dumber and dumber? how can we feed every 1? 42. the answer to almost everything starts january 15 on d w. ah . ah ah ah, the world doesn't lack for complex problems.