on the eve of a major summit aimed at strengthening tasks of next rob watts has dw business. we have the latest news from the european central bank. so stay tuned for that. there's much more news and analysis on our website as usual. it's d, w dot com for lawson social media as well, and the handle dw, told me or logical myself on the team with interest the global economy, our portfolio, g w business beyond. here's a closer look at the project. our mission. to analyze the fight for market

dominance, good is step ahead with the w business beyond your ski about them beyond that goes to nibble other, get out of media legal law, go up or down, but again, i will stop into that and i'll give you yoga or would you yeah, but sure to let up joel media dog. currently more people than ever on the move we'll divide in search of a better job every news minute. the key math one good or a get find out about on the story info my grants. ah, another hefty rates high from the european central bank has now let up in the see these assaults on inflation, but is it leading the euro zone towards the recession and a $100000000000.00 in

a matter of days? in d, as a donnie group, market value continues to tumble as it abandons plans for stock offering. this is date of your business on robots in berlin. welcome to the program. the european central bank has raised interest rates, half a percentage point. i'm sick, not yet another hike in march e. c. b has been increasing rates a record pace in the face of high inflation, fueled by the energy crisis that followed russia's invasion of ukraine. the latest 50 basis points height comes despite data, suggesting that your as an inflation is easing. it also follows the u. s. federal reserve announcing a smaller rights increase. the last one is here from the see be chief christine. my god, the governing council will stay the course in raising interest rates significantly at a steady pace and in keeping them at levels that are sufficiently restrictive to ensure a timely return off inflation to 2 percent medium to target. well,

let's discuss these, these latest rates, decision with cost and bridge s k, the chief economist at ion j. thanks a lot for being with us cost and b, c, b out. she hasn't followed the fed in phasing down the rate increases. how's it? so what does that tell us about the different stages of the 2 central banks? the rat. yeah, yeah. the more advanced in the, in the tightening cycle then the be still has some, some grounds to catch up. so they are still very aggressive. it's not only that the should be higher interest rates by more than 50 basis points, but they also more pre, committed to another rate like the march meeting. as the president christine or guard said that they tend to hi are another 50 basis points in march. again, and she didn't indicate that these rises are going to stop either. i mean, is there any end in sight? how long can this go on for? well, if you look at the and the u. s, it could still go on for a while,

but i don't, i don't think that the can go as far as when it comes to the level of interest. right. so i think my march is a done deal as well. and then we'll probably see another one on to re 5 before summer really starts. maybe smaller size is no longer 50 basis points, but $25.00 basis points because, you know, the tricky thing would be increasingly gets yes. they only have one job to do, and that is to bring down inflation. but the higher they go with their interest rates, the more hom they do to the read economy. and that is not what the reader has in mind. so, balancing, getting inflation down and not hurting the economy is getting increasingly complicated. so we will see an end to rate hikes before the summer. and we are already at the point where the, your, as an economy is, you know, virtually stagnating. is there a danger that we could go into recession as a result of rights hikes, knocking time from on her policy?

higher interest rates are probably the most under estimated negative in pay for the eurozone economy. this year. we already had $250.00 basis points, rate hearts. we're going to get another $1260.00 basis points. so total of $400.00 basis points in probably less than the year time. this is done an enormous mark on the read economy. just think of the housing market, just think of los and businesses in order to finance investment that we so urgently meet. so yes, these, these extreme hikes in monetary policy and interest rates will slow down the euro zone economy and are in my view, a big driver behind the stagnation that i expect for the year as an economy this year. okay? customer possess k from i n g. thank you very much for bringing us your expertise at now, let's take

a look at some of the other global business stories that and making the new british joy and oil giant shell has posted nearly 40000000000 dollars a profit for 2020 to doubling. if any is compared to a year earlier, and it's storing energy prices, the company also announced the record for the quarter profit on the $10000000000.00 exceeding analyst expectations. and matters. shares jumped on this 25 percent after the company reported better revenues than expected for the 4th quarter. 2020 to the tech giant, which owns facebook, instagram, and what also cut its expenses outlook for this year by $5000000000.00 and an additional $40000000000.00 or share buyback on that. let's cross to financial correspondent in new york in the quarter against the new york stock exchange for me. why is method done better than people that were expecting? well robin, the good question is also, why is the stock come up so much?

i mean, clearly it got to hemorrhage in the past year, but actually this earnings report wasn't that, stella. yes, revenue came in a bit better than expected, but still for the 3rd consecutive quarter. actually a revenue a drop, the what wall street clearly like this that facebook or amanda is getting the expenses under control. they also announced the less investment in some businesses for 2023. so mark, soccer burke, the head of meta it was talking about that 2023 will be the year of efficiency. that doesn't really sound too exciting, but cos that could become under control. and that's why what swede reacted. so our beat me, well, after the bell, we've had some a big tech results. haven't weighed there. how's the rest of the sector looking? well, i would have to say are the initial a look at the after earnings from amazon or from the google parent. m alphabet. do

not look to a grade especially after both stocks actually increased a good 70 percent during the session. so now after hours some, if we look at an alphabet to for instance, they clearly missed on the profit side. so that stock got under quite some pressure after hours. we see, for example, that the cloud business wasn't doing as great as expected, especially corporate clients. they're pretty flexible on how to spend their money when it comes a to the clouds a segment the same by the way. it's true, or was amazon also there at the cloud business? a bit of a disappointment before the past quarter. amazon a beat expectation when it comes to revenue about the outlook for a revenue, it's all over the place. so obviously some uncertainties there. and also amazon, or got under a quite some selling pressure, at least initially, after those figures came out after the market close to me. an interesting 2023, especially after all these companies announced others job losses yann's quarter in

eoc for us. thank you. to indian now and the embattled darney conglomerates. the industrial giant has now lost a massive $100000000000.00 in market value in just a matter of days after a short seller, a serious allegations about the companies tax practices. the latest plunge came after donnie was forced to cancel a massive shasta, gautama danny, just a few days ago. still smiling bravely, though no longer the richest man in india, promising lavish investments in the israeli port of heifer. despite the storm breaking over his empire, the acquisition of hype art also comes with that significant amount off. realistic . and i promise you that in the yellow book um the red band sponder skyline. we see around us salaam, a done, he is now in considerable trouble. his conglomerate has just suffered the loss,

estimated at more than a $100000000000.00 us dollars on the stock exchange. a report by the us activist investor group hindenburg research triggered the dramatic fall to report cast doubt on the value of the indian group and accuses the donnie of market manipulation over indebtedness and accounting fraud. i. danny, canceled the groups, share f p. o. but he assured investors that the company is healthy gum fundamentals of our company are very strong. our balance, it is heavy. and as ash robust got my down, he rose from a school drop out to become the richest man in asia. his $220000000000.00 empire is building a large part of india's infrastructure on government contracts and supplies. india with energy and armaments. the 60 year old rejects the hindenberg accusations, but a donnie is involved in so many sectors of india's economy. that analysts fear the

fall of a donnie could be the 1st in a chain of dominoes. now the energy crisis is not the only reason the life has been getting more expensive europeans, unseasonably hot weather has hit harvests across the continent, driving up prices in spain. it's affected a kitchen table staple. the olive harvest is almost complete, was the shortest harvest and lowest yield in a long time, with thousands of farmers in the countryside. the wrong civil will affect the out why? because of the lack of water of the olives did not take on the black collar, they should have also, they are smaller and the fat content is lower. all this affects profitability, small a harvest, but a better price for kilo, however, that only partially compensates for the poor crop. seen. i cannot godaddy, i'm relaxing without these prices. we would not even harvest at all. it just

wouldn't be worth picking the olive cigarette laguna. the harvest is so poor because it hasn't rained in months and the temperatures have been high. it was clear early on that the production of olive oil would be reduced. now there is a shortfall of more than $600000.00 tons on the world market. that only dollar amanda at the moment we're noticing that demand is falling because oil is becoming more expensive than europe. global consumption must have fallen by around 30 percent because there simply isn't enough production as in every dollar bug. and i notice you vision the brovio produces and, and lucia could survive one bad harvest. but the next few years could again be too hot and to dry. more and more olive trees are being artificially irrigated. and that sets a vicious cycle in motion. look as see i north yeah. whitely are facing our higher temperatures and increasing water shortages are add a printer. but bank,

this is what the future looks like and it is very worrying. we got a full doodle. olive farmer, ignacio logging has also switch the 1st plantations to irrigation, but in one he already lacks well water. just to remind of the top business story that we're following for you to sound european central bank is raised interest rates, half a percentage point a signal yet another hike in march. the c, b has been increasing rates at a record pace in the face of high inflation muscle for me on the business team here at d. w. if you want more from us, there had to d, w dot com slash business, all the data we unusual channel into the conflict zone. some of the worst violence in years has broken out between the israelis and palestinians. us could you say i'm going to bring to him cold on both sides to calm tension instead of 2 state solution was the only way to end the

conflict. my guess is week is that of the palestinian mission to the u. k. on the believe that's possible conflict with d. w to the point in strong opinions and the clear positions international perspectives. as the rest agreed to supply heavy about, done, ukraine started to demand for mo, insulin ski mel by the jets and stuff. money u, as in germany, have to fuse others. wonder if diplomacy could be the way do and to walk to the point a, d, w. a . hello guys. this is the 77 percent. the

platform for africa. you to beat issues and share ideas. you know, or this channel. we are not afraid to have to and then you could because population is growing and young people clearly have the solution. the future belongs to you. the 77 percent every weekend and d w some of the worst violence in years is broken out between israelis and palestinians at its height last week, a palestinian attack outside the synagogue left 7 people dead. unprovoked white spread condemnation, including from the arab world a day earlier, israeli forces had rated the janine rep.