in a statement following her daughter's death, priscilla described to as the most passionate, strong and loving woman i have ever known. that is your news update this hour. stay tuned for the business headlines with my colleague christy plots, and that'll be coming up next. after a short break, and of course you can also get on our website at dw dot com or full social media at dw news and clare richardson in berlin for me in the team. thank you so much for watching into the note. today, this means 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 proceed. but also linked to main financial with adventure full of hardships, dangers, and death. but jillions journey around the world starts january 19th. nico he's in germany to learn german louis been equal. why not learn with him? d, w 's e learning course, eco's fake. oh oh, tesla slash that's prices, again, a sign of desperation or the 1st attack in an e v price war will go to wall street. also coming up. consumer is consumer prices and argentina jumped 95 percent in a year with stable foods becoming ever more expensive. we'll look at how

argentinians are making ends meet. and while a green future could rely on batteries made from where earth, the batteries themselves, post environmental problems of their own, we'll take a look at one possible solution. hello, and welcome back to the w business. i'm christy plaza with you from berlin. electric car maker tesla has dominated the electric vehicle market for several, several years. but rivals around the globe have been catching up and now teslas slashing its prices. in the us, in europe, tesla's cutting prices on some models up to 20 per cent. the company recently lowered prices and china and japan due to sales problems as well. well for more on this, let's bring and teddy austro, he's at the new york stock exchange for us now. teddy. hi. this is the 2nd price cut for testers. lower price models in 3 months. what did investors make of the news of this latest cut? well, christy investors aren't particularly happy, we saw the stock go down a little bit. however, investors haven't been particularly happy with tesla for the past several months.

they are distrusting of tesla to really keep it to market share of the e v. market to compete with all of these e v companies that are now springing up. but you know, it turned back to clark about a year and we are looking at fair profit margins. we are looking at a happy wall street. and now in 2022. what we are seeing is with the rising rates, with tesla, simply not meeting at sales targets, as well as the chaotic take over of twitter by you must, which made investors fearful that he would divert attention from tesla. what we're seeing now is investors, well, it's not a great start to the year for tesla to say it shortly. okay, so what i'm hearing is that just the market malays is also at play here. i mean, but you're talking about other competition in the electric vehicle market, give me some context here. what's going on in that space? well, we're looking at a pretty different e v market than even just

a year ago. simply, there are more views on the road. we saw sales job by about 2 thirds, so it's a pretty huge jump in the market. and of course there is now more of a diversity of e. v. 's on the road. tesla, of course, had 72 percent of sales on the market in 2021. now that is down to 65 percent. that got being filled by ford be filled by honda. so consumers are buying their e v 's and they are getting a boost right from the inflation reduction act which was passed last year. and that gave tax credits to the manufacturers if they meet certain guidelines for their e. v. 's. ok, well some people are saying that the price cut is a sign of desperation, but tesla can't get the stock to move. others are saying it's sort of a genius, strategic move to start a price for with these legacy automakers. i mean, do you think the prescott is likely to turn demand for testers around well,

test, the demand for tesla isn't going to go down any time soon. tesla is a major players still, and the manufacturer is other ones still have to catch up. and of course, this cut in prices probably will stoke more demand. that is because these prices have put the vehicles more of their vehicles into the threshold to get those tax credits. i was just talking about from the inflation reduction act. and that can be up to $7500.00. so consumers are certainly going to be looking towards the vehicles that will qualify for those tax credit to you. and mosque of course, was complaining about these guidelines. prior, i'm saying it's exclusive of test flows and other vehicle manufacturers, but the demand for test was, is down compared to years prior. and yes, we'll have to see whether these price cars actually are going to show up at that demand. well, that bono certainly does sound attractive, petty auster, thanks so much for that. well, here in europe,

inflation around 10 percent has hit people very hard. meanwhile, in argentina, consumer price growth hit nearly 95 percent in 2022. groceries are eating away at the purchasing power of argentines. cooking oil shut off more than 450 per cent last year. the price for milk more than tripled. the cost of living and argentina's out of control, despite the implementation of multiple price control schemes that the government set up in conjunction with supermarket chains and suppliers. what reality i'm effect in my daily life. inflation affects me, i suppose, like all argentines in all aspects. i mean, you have no security, you can't plan, you can't predict anything into the future. we effect i, alaya inflation affects me too. especially with food i c, k, m. and so unfortunately, i have to adapt and use all the promotions and coupons that they are offering us.

and also santa fe santa argentina has been grappling with an economic crisis for years. there are many causes of inflation, including a persistent budget deficit and external factors like the warn ukraine that has affected energy and grain prices. that's why latin america's 3rd largest economy now has one of the highest inflation rates in the world. and since incomes and pensions do not keep up with rising prices, almost 40 percent of argentines live in poverty. now. while g 7 countries in december agreed to allow russian oil imports under the world market only at a maximum price of $60.00 per barrel. that move was meant to put pressure on moscow over its war in ukraine, as well as stabilize the global price, a global oil price. now, just over a month later, progress on both fronts seems to have been made. since europe stopped importing russian tanker oil, it's priced has plummeted,

especially for crude oil that was destined for the european market. this is causing heavy losses in revenue from commodities that are important to the russian treasury . according to a new analysis by a finish energy think tank, it's costing russia an estimated $160000000.00 euros per day. if additional measures are taken before february 5th. the economic damage is expected to rise to 280000000 euro a day. the import band and price cap lead to a 32 percent drop in russian oil revenue in december. we can actually say that as it's very close to what the original gauze off these measures we're now what we don't know is exactly which measure is causing which effect. so we have on the one hand, the you, which stopped importing most of russian oil in early december. so this is basically russia losing a big market. and on the other hand, we have a shipping band which makes it very hard for russia to send or to other markets.

and both together are sort of causing russia to, to have it all at to, to have to salads are very cheap. now. russia's trying to sell its oil to other regions like india, but that can only be done at deep discounts. now to some of the other global business stories making this in an unusual move, apple. c o tim cook is taking a voluntary pay cut of more than 40 percent this year. he said it was in response to shareholder feedback, but fear not, he won't suffer too much. despite the cut cook's compensation for 2023 will still be $49000000.00, and probably more once bonuses and stock rewards kickin. bosnia herzegovina is the latest country to hop on the electric vehicle bandwagon. it's locally produced, its 1st e. v which has a solar power panel on its roof and can cover 100 kilometers with one charge. it can also carry a load of up to $300.00 coca cola kilogram kilometer, kil,

sorry. rare earth are an essential component of many green technologies, especially batteries used in electric cars and for storing excess wind power. but mining rare earth is destructive in its own right. and a battery company in germany thinks they found a way to make do without them. traditionally, lodge batteries contain lithium or cobalt. extracting these materials is tough on the environment. here in the southern german province of franconia, a new organic battery system is set to revolutionize how we store sustainably generated electricity. cl, blues, organic, solid flow battery doesn't use re earths. once the battery misty are organic, solid flow battery is based on fully recyclable, organic materials that are available all over the world. these plastics are all recyclable and also biodegradable you about. it was pete. a gaggle is idea to come up with a groundbreaking new way of storing electricity. the medical doctor founded c. m.

blue with a seed capital of 80000000 euros. to help with that of hurdles, i became very interested in how nature generates transports and stores energy and human cells. and it's a fascinating field, especially when you consider that nature uses only organic molecules to store energy and doesn't use any metals or even gardens. mackarath the company hopes a pilot project in mid 2023 will prove the new technology works on a large scale in practice. the plan as to produce the large scale green battery, insignificant numbers. first in germany, and then in the usa in 2024. was in the gums club, visally, we have to follow the markets. you have to go where the technology is in demand on a large scale. america is simply further ahead than europe. but i think europe will follow. and we're looking forward to that. we'll bobbitt forward on the forum on

call. the company currently has a 170 employees to ensure it keeps growing. c, m blue is negotiating with new investors. they're looking for more than $200000000.00 in fresh capital. the demand for batteries is expected to grow strongly. lithium batteries will continue to be used in computers and cars. but when it comes to bulk energy storage, the new technology on c, m. blue could prevail had of, of quinton 170. they sickly. this is a very serious proposition, and it's also an exciting and thrilling technology. it promises to significantly improve electrochemical storage on a large scale. hello dorothy. hi, beth m. c m. blue wants to establish a large part of its production in the u. s. to begin with, but research and development will stay in germany. and reminder of the top business story we're following for you this. our electric car maker tesla has slashed prices

by 20 percent in the us in europe to try and hold on through its domine of the electric vehicle market. that's our show for more. you can check us out on the w dot com backslash business. i'm christy plots, and thanks for watching to the point. strong opinions, clear positions, international perspectives. western countries are accelerating this support for your trade. um of vehicles. okay. be done at the time. all veterans double seems to have passed on to the boys via bang for you. 3. is the west joining the all to the point on d. w. ah,

yes. on doris. thousands are making their way illegally to the usa, escaping poverty and violence, and risking their lives in the process. murderous gangs facilitating the exodus are making a killing. but that does not deter the desperate. in 45 minutes on d. w. o. is increasing every year in many im gonna working on lunch with holiday destinations and drowning in plastic weiss, we read wine and happy to look at the causes every year of exposure. 1000000 tons of plastic with there. another way, after all,

the environment isn't to recyclable. make up your own mind. d. w. made for mines. ah. the dime of bethany table has buzzed. that's what ukraine's foreign minister, d mitchell, calais, barode, and a facebook both this week. he stressed that this year ukraine will finally receive arms from its allies, which at fantasy lost in britain and poland have confirmed that they will to send martin heavy towns to ukraine.