ah, don't forget, you can always get d w news on the go. just download our app from google play or from the apple app store. it'll give you access to all the latest news from around the world as well as push notifications for any breaking news. that's all for now after the break. it's dw business with christy plots in the world bank is warning a global recession is likely i'm ami annisa from me in the team here. thanks for your company. ah ah, every journey is full of surprises. we've gone all out to give you some tips with i'm in your northern most count

please. ah, for a timeline still very much alive, dw channel, you'll guy to the special with recognizes where exactly. it was fun and i learned a lot our culture history. all their d. w, travel extremely worth a visit. ah, ah, the 2nd recession in 3 years, the world bank says the global economy is perilously close to another recession in 2023. the insider tells us what's at risk. also on the show, microsoft sets of sites on artificial intelligence was talked to invest billions in

open ai, the firm behind the boston station chat, g p t. we'll look at what microsoft hopes to get out of the deal. and a mild winter might have saved europe from a disastrous energy crisis. but the warmth isn't welcome at the continent. ski resort. hello from berlin? i'm chrissy plats and bringing you d w business. the global economy is growing ever slower under the weight of elevated inflation. higher interest rates, lower investments, and disruptions caused by russia's invasion of ukraine. that's according to the world banks, latest global economic prospects report released this week. the global economy is projected to grow by just 1.7 percent in 2023 and 2.7 percent in 20. 20 for the sharp downturn and growth is expected to hit both rich and poor nations. given these fragile economic conditions, any new adverse developments, such as abrupt interest rate hikes, a coven, 19 resurgence, or of course, an escalation of geopolitical tensions could push the global economy into

a recession. i spoke earlier today with world bank manager francisco own saga about what the greatest rifts are. a number of risk that could be available based on auto pay in mind that our current baseline most likely scenario is already a downside scenario that we have to consider just 6 months ago. a lot of the rest of the anticipated 6 months ago have come to pass. and now this year, as a result, what used to be out on site scenario has become a baseline scenario. as you said, growth is expected to be 1.7 percent. let me just add 1.7 percent growth in 20. $23.00 is the lowest growth rate in 30 years outside global recessions. this is literally on the brink of a global recession. it's hard to raise us edge. one more shock, one more cut. the outlook would send a global recession in the global economy into recession and the number for 2nd be that cuts that, that risk materializing one risk that we have a related in

a scenario analysis is that of greater foster anticipated monetary policy tightening. we estimate, for example, that an additional one percent went to increase in global short term interest rates because of honesty, tightening advanced economies would tip to ignoble into a global economy into a global recession with decline above capital. 5 incomes of point 3 percent. obviously a very sensitive situation. what parts of the world are going to be hit the hardest by all forecasts is flawed, owns in advance to con me growth a steeper than in emerging market and developing economy growth in advance economy . the policy tightening that's currently on the way is a sharpie weighing on growth. it is much necessary much needed because inflation has turned out to be much higher for much longer than we had anticipated in even just 6 months ago. 6 months ago we expected a consensus forecasts expected inflation in advance to con me. in 2023,

it will be not that far off. inflation targets of 2 percent. at this point they expected inflation is expected to be on 5 percent of that. so of course, central banks, a tightening policy, have to type on the scene more than anticipated, and that is weighing on growth. now obviously a very concerning situation, but do we see any silver linings? any positive developments, anywhere we know food and energy price spikes have come down somewhat. for example, what are your thoughts on this the food come to a commodity price. surgery we had seen earlier in the year has now on wont to a large extent, most commodity prices are back to p. p invasion levels. so this has, this has taken some of the pressure of food insecurity. some of the pressure of energy security in some countries. however, it is just one factor when at the same time, there are a lot of headwinds facing emerging markets and developing economies. you have to

bear in mind that you know a baseline scenario. if nothing goes wrong, that didn't visit messages, but capital g d p growth in emerging markets and developing countries other than china and has a different story. other than china of 1 point, one percent. so just about one percent, that is just about in line with per capita g d. p growth in advance economies point 9 percent. so for $20.00 to $3.24, there isn't going to be much in comcast capita income is more a question of emerging markets and developing economies just about keeping pace with advanced economy. so what we were hoping as a developer to go that does the income catch up, that is unlikely to happen over all for customers. francisco own saga manager at the world bank. thank you so much for that. now let's look at some of the other global business stories making those take talk seo shoes. a true is in brussels meeting with officials to discuss e regulations. the meetings come

a day after internal market. commissioner teary baton, said the chinese social media company needed to respect e rules and be transparent about his algorithms. coca cola and pepsi are under preliminary investigation in the u. s. over their pricing strategies. the little known robinson patman act prohibits suppliers from offering better prices to large retailers at the expense of their smaller competitors. the investigation is part of the biden administration's effort to rein in big companies and flex its anti trust muscles. boeing has reported 2022 as its best in the past 4 years of business. last year, the aircraft manufacturer received $774.00 orders for plains. that's a major rebound after a drop in sales due to the pandemic, and to deadly crashes involving at $737.00 max jet european rival, airbus says they've also had their best year with $820.00 orders. virgin orbit has suffered a setback on its 1st mission to launch satellites from western europe. a modified

jumbo jet carrying a rocket encountered a problem about 2 hours after take off from southwestern england and had to return . the rocket was supposed to take 9 small satellites into orbit for mixed civil and defense use. well, for a rack of reaction, let's go to young quarter at the new york stock exchange now. now yes, we know that this space mission was a failure for britain's space ambitions, but, but virgin also got creamed in the stocks. how bad is this for the company? christie? i remember where we well, when morbid when public in the summer of 2021, they actually had a rocket launcher out on time square. so close to the next, the market side. the way the company started trading at about $10.00 a piece today. the stock is worth less than a 2 bucks them and the stock actually has never really taken off. so it is clearly a disappointment. it is a very competitive marketplace, launching those

a satellite. so satellites on board as far as i've heard our last so it's definitely not a good day for or virgin orbit neither at the stock market, nor for the company in general. ok, well yeah, let's turn to our next story here. microsoft is in talks to invest $10000000000.00 in open a i, that's according to people familiar with the plan. the company's a shop. i can gather information, imitate human human conversation, and it's led to speculation. it could one day replace millions of jobs. young, how things are significant, what a deal like this be for microsoft. what are they going for here? and open i and the chat part is all the rage shown here. and you said for quite some time, i mean for microsoft, it definitely is supposed to help the search engine being a grading, gaining some ground. i mean, if you look at search engines overall, most people use google and hardly anybody use us being so for microsoft that that's

supposed to change with their investment. eventually they will probably own about 49 percent off. open a i and talking about open a i itself, i mean running the operation running the checkpoint is pretty costly. i've seen estimates that you need a lot of computing power that could cause the around $100000.00 a day. as far as i understand. if microsoft is spending this money, they buying the shares from existing shareholders, so there's no direct cash flow for open a i. but it would bring the valuation for open. i to almost the $30000000000.00, meaning if they get a new investors in the future, they have to pay definitely more to also get a piece of the kick. young carter who know bought could ever replace. thank you for that. and unusually mild winter here in europe have had its advantages.

it's meant people needing to heat their homes left and so helped alleviate the pressure on the continents energy supplied. however, it's also raised obvious questions about the true pace of climate change, and it poses problems for businesses who prefer to keep things cold, hardly any snow. and if there is it's artificial, this winter has been unseasonably warm and lace in switzerland. the skiers here are disappointed platforms west. it's heartbreaking. the sea i've been coming here since i was a little girl and to see the sky slope like this. the ski resorts staff are doing an amazing job, but it's heartbreaking to see such little snow to position. i think the climate change is really scary. i'm also nervous for the people who make their lives in the winter mountains and the you know, their livelihoods are very much connected to tourism. and if there's no ski, there's probably not as much tourism. the local economy is deeply connected to skiing, the restaurants and hotels,

equipment rental and stores. everyone is concerned including the cable car operator . all need will to do. we've had a decrease in usage of around 35 to 40 percent compared to last year, which was a very good year. if we compare it to the last 5 years, we have a decrease of nearly 20 percent while debatable sol through the pony bus house. in neighboring austria, the situation is hardly better. stammering is also a well known ski resort. it is unusually greed and mild and locals hope for snow. the little dog. and the last few days. it hasn't been that cold, not that wintry. our guests winter torres, they probably don't really feel like skiing or sledding. maybe they'd rather go for walks in the park. again, leave with less foot ceiling bog or to the swimming pool. the ski resorts in the alps which have made good money for decades, may have to reinvent themselves if they want to continue as hot spots for tourists

. and here's a reminder of the top business story we're following for you this. our global growth is slowing sharply in the face of high inflation and interest rates and rushes invasion of ukraine. a new world bank report forecast global economic growth at just 1.7 percent in 2023. that's our show for more. you can check us out at d, w dot com slash business, and the d. w knows youtube channel. we're all on facebook for me and the team. and berlin, thanks for watching. i don't set how uncommon dream the young man rule india joined the band relations are jeopardized by cultural

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