holding back excess ray mortar is vital google and during droughts. it's important to retain as much water as possible in the ground. for example, by planting new forests. photo forests like mangroves, for instance, which protect coastal areas from storms and floods. pakistan and other countries threatened by climate change need international help to adapt. it brings you up to date on all the well use. i ben for solon up next dw business with christy plats, and i'll be back next out to see that with into the unknown. to day this means flying to a foreign planet. in the 16th century, it meant being

a captain and setting sail to discover a route, a race linked to military interests, a race linked to political and military, christy bush, but also linked to many financial resources. and adventure full of hardships, dangers and death. but jillions journey around the world starts january 19th on ah, the global chip brace is on. we'll look at how semiconductors could become a major battle ground for rival superpowers in 2023. also on the show from goldman sachs to goldman fact the investment bank lays off thousands as a global downturn weighs on markets. we'll get more from wal welcome to the w

business. this is christy plots, and back with you from berlin. it's becoming a major battle ground among rival superpowers. the u. s. is encouraging its international partners to join a plan ban of chinese computer chips. according to media reports. us ambassador to japan, rama manuel says the u. s. is in discussions with japan, the netherlands and south korea, nations critical to the industry supply chain. in an interview with bloomberg, he said, all the parties are at the table. all the parties have a mutual shared interest in the outcome. he said the deal must be multilateral in order to work. the korean government for its part has denied its and talks with the u. s. at the stage. meanwhile, another u. s. partner and the world biggest manufacturer of, of powerful semiconductors, taiwan has passed its own ships act to give tax breaks to key manufacturers. now, earlier i spoke to dan, i've a tech analyst at web bush securities and i asked him how significant a ban on ship making equipment would be for china. and we looked is who

send saying arm trace the tap and we're seeing more and more of a decoupling in the us between china because of especially with things like artificial intelligence and some other technology who's going to control it. and i think all doing, we're seeing a game, a high stakes poker, your apple plays a key part and comes from their chip partners. and i think this continues to be a key. what i'll call wild card in overall tack. going 2020 through. well, you mentioned apple. what do you think? tech companies are thinking right now and talks of bands like these get going. the guiding band is strong work. do you believe that you're going to start to see more and. ready more especially come as a gap or want to control their own echo system. i need one last geopolitical risk and that's something that i think is gonna play more and more of a role. also in terms of a tap in the us, why the tax incentives in terms of building ship manufacturing, u. c t s, you know,

in some other, you know, a semi players start to build now in the us. and this is going to be a big story because ultimately it's really what china is move in next year. does this start to become more of a, the coupling in the chip barm's race. ok, well you're talking about china's move, but i want to hop on what you just said about, you know, things being built out in the us, us, europe, they're both pursuing greater competitiveness in this area. when do you think we'll really see these efforts bearing fruit guys being for the 1st time we're actually starting to see a play. i know again this is not going to happen overnight in the semi food chain, and i think the power continues to be in china. we'd spend next 570 years. but i did, we were starting to see the siege of that in terms of play out in the us and throughout europe. but alive is going to be back competitiveness because these companies are not going to build chit facilities, making sure that ultimate,

they can compete from a cost perspective. it comes down to like a $1000.00. that continues to be mean china versus war in the us. the 2500. that was dan. i've tech analyst at web security. thanks so much for those insights . thanks just a bit. sticking with the topic, the u. s. is clearly racing to increase its best in this area. thanks to the chips act passed by the biden. administration, the country is investing billions to encourage research and development in the industry while the law just passed just last august. it's already having an impact on small players in need of a boost. d. w reporter alexandra williams went to a research lab in charlottesville, virginia, to find out more for us. now, she is a co founder of q. c. 82. it's a small start up burke from the labs of the university of virginia and the u. s. they're developing cutting edge semiconductors,

also called chips the red box as og 3 the laser. the 2 are because of an inside this chamber. ok? here i'm in the chamber, there is a very small chair. the cool thing is that everything here is at room temperature. and now other than the chip be, don't me and it, she works with hussein's id, the c e o of q c into sadie says q c, 82 ships may be microscopic. we can have a big impact. that's because they'll be used for quantum computers. these computers can do things like simulate the movement of atoms and molecules. this can help lower the cost and speed of manufacturing drugs, but much of the work that hussein through ye and the rest of the que city to teen does is theoretical. and it can be hard for a start up that so future focused to get funding the source intensive initially time ah, money, labor intensive in the beginning. but it also leads to much more scalable

technology that has much more don charity. but their vision may be getting more support thanks to the chips and science act. it's a $280000000000.00 technology package designed to promote chips and high tech industry in the united states. the thing is they'll be asked to sign into law in august of last year. funding hasn't actually been drawn down yet, but it's still driving interest and investment and small semiconductor startups run out of research institutions, just like q c 80 to richard chillen works on funding for many young, high tech start up learners. suddenly we have companies whose technology is related to semiconductor industry and suddenly they're finding a lot more investors wanting to talk with them. interested in about having conversations with them about funding their next round of technologies. the chips and science act is already bringing in $200000000000.00 worth of private investment

to the industry. that's according to the u. s. semiconductor industry association, semi conductor factories in syracuse, new york, and charles rescued. $20000000000.00 do the same in ohio de, q c, $82.00 teen produce their 1st chip prototype without billions of dollars. it's an accomplishment that they're proud of. regardless of what might come. you're literally pushing you unknown a little bit further. it's like, of course we want to, you know, make their plumbing a bit of work. eventually. even if it doesn't happen as long as we push a tube, we push a technology to what human being can possibly push it to. if it does work to ye hussain and the rest of the q. c. 82 team want to take things even further. one day, they hope to design their entire range of products from start to finish on us soil . that is, if the chips and science act delivers on its promise. now let's have a look at some other global business stories making us today. members of the public

will now be able to blow the whistle on companies flouting antitrust law in the u. that's thanks to way hop i and set up by the european commission. the tool allows individuals to report merger breaches and other anti competitive practices. the fcc is charging the former head of mcdonalds for defrauding investors. ex fios steven easterbrook was paid more than $1000000.00 in severance, claiming he was terminated without cause. when in reality, he had been fired for having an inappropriate relationship with an employee. goldman sachs says it will cut $3200.00 jobs more than one 3rd of the cuts are likely to come into lenders cor, trading and banking units. earlier us banking piers, morgan stanley and city group also cut thousands of jobs as they expect a weaker economy this year. well, for more on this, we go out young quarter at the new york stock exchange. hi there again. now, goldman had been on a hiring spree just a few months ago into the pandemic recovery. what's changed since then?

yeah, well chris is in, so david, tell him, i took over goldman good for years to go. employment actually has increased by a good 30 percent, especially if you look at 20202021. we saw an exploding ip market. a lot of companies came to the market. so we also got a lot of support from the government for consumers and for a company. so we did not see a lot of losses of credit. the people were able to pay their mortgages to all of that help and that might be changing. and now, so we see higher interest rates that makes it more difficult or actually the highest the debt blog for consumers also for companies that we will see if we will be higher delinquency rate. the banks are getting ready. they're putting money aside for possible credit losses. and that's why the entire environment that's got gotten a bit worse at this moment for bank. right. yeah. you're talking about them preparing

for the worst. i mean, we're seeing a general overall economic slowdown. i wanted to ask you if, if banks are prepared for this yeah, sure. i mean, christy, that the outlook for economic growth globally, it's actually worsening. definitely makes it all a tougher for a bank. it's what we are probably going to see this earning season and also the next couple of quarters. the banks will put much more money aside to be on the safe side for possible credit lawson. so that could be a burden on the balance sheets. and also we will have to see if the ip market of mergers and acquisitions pick up at this point. it doesn't seem that likely in the near future. but having that said, we also are in an environment of higher interest rates, and that usually is an environment for banks and to print money. it's not all as bad, and i'm quite certain the big banks will come up with

a 1000000000 dollar profit, even if the profits might not be as top and as high as we've seen in the past couple of quarters. ok, so you're telling me i don't need to lose sleep over the investment banks, but we know quarterly figures are out friday for the banking sector. what do you think we can expect? yeah, what we will see. yes. and that will be the key thing. will banks war and that they will be putting more money aside for possible credit losses? we'd probably be billed the profits to decrease a bit, maybe revenue even increasing a bit. but how much money bank i'm putting aside that will be great. thank you. and and finally, a modified boeing $747.00 nickname, cosmic girl is bound for the skies in a 1st for the british space industry. it's taking off from southwest and a virgin orbit rocket under its wing. the rocket is carrying 9 small satellites that will be deployed once it reaches earth,

slower orbit. the new spaceport gives europe options for launching smaller satellites at a critical time after the ukraine war, cut, accessed with use of russian saw use vehicles. this is virgin orbits. 5th commercial, lots. that's our so thanks for watching. ah, ah ah. yes. oh awesome status. and it works of compose alicia prod, agile, hitler's obsession. oh has ever been better background music for megalomania,

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