ah, russian president vladimir putin has attended celebrations to commemorate the 80th anniversary of the soviet victory. all but german forces. the battle of stalingrad wouldn't use a speech to criticize, gemini was sending to you play up next is rob, what's with dw business, with all the latest news from the european central bank state june. that is more news and analysis is always on d w dot com. you can also follow us. social media handle is at b. w. news. i'm totally illogical. thanks with every journey is full of surprises. we've gone all out to give you some time with home. i'm in your northern most count to

play with 3 times one very much alive, dw channel, your guy to the potential with recognizing where exactly it was fun and i learned a lot our culture history, all their d. w. travel extremely worth a visit with. oh, another hefty rates hike from the european central bank has no let up in the se visa sold to on inflation. but is it leading the euro zone towards a recession and a $100000000000.00 gone in a matter of days in d, as a donnie group,

market value continues to tumble as it abandons plans for stock offerings. this is date of your business on robots and berlin. welcome to the program. the european central bank has raised interest rates, half a percentage points on signal 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 yours and inflation is easy. it also follows the u. s. federal reserve announcing a smaller rates increase the last one. as here from e. c, v 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, often inflation to all 2 percent medium term target. well,

let's discuss the seabees latest rates, decision with cost and bridge s k, the chief economist at ion g. thanks a lot for being with us cost and b, c, b actually 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 than the b, c, b still have 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 morris pre, committed to another rate like the march meeting as the president christine regard said that they intend 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 end, 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 to when it comes to the level of interest rate. so i think 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 sizes, no longer 50 basis points, but 25 basis points because now the tricky thing will 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 read 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 her session as a result of rights hikes?

i tired 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 times we're going to get another $1260.00 based on so a 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 off the housing market, just think of los and businesses in order to find an investment that we so urgently meet. so yes, are 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 stick nation that i expect for the year as an economy this year. ok, customer is asking from i and j. thank you very much for bringing us your expertise at let's take

a look at some of the other global business stories that are making the news. british joy and oil giant shell has posted nearly $40000000000.00 a profit of 2020 to doubling. if any is compared to a year earlier, it's storing energy prices. the company also announced the record for the quarter profit on the $10000000000.00 exceeding emily's expectations and matters. shares jumped almost 25 percent after the company reported better revenues than expected for the 4th quarter. 2020 to attack giant, which owns facebook, instagram. and what was that cut? it's expensive outlook for this year by $5000000000.00 and announced additional $40000000000.00 for share buyback on that. let's cross to our financial corresponded in new york again quarter against here. the new york stock exchange for me, why is method done better than people that were expecting? well robin 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 dropped the what wall street clearly like this that facebook or amanda is getting the expenses under control. they also announced 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 cause that could be come under control. and that's why what swede reacted, so i'll be meanwhile, 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 the initial look at the after reading from amazon or from the

google parent. dim alphabet, do not look too great, especially after both stocks actually increased about 7 percent during the session . so now, after hours, if we look at an alphabet, for instance, they clearly missed on the profit side. so that stock cuts under quite some pressure after hours. we see, for example, that the cloud business was doing as great as expected, especially corporate clients. they're pretty flexible, how to spend their money when it comes to the cloud segment, the same by the way. it's true with amazon also there the cloud business, a bit of a disappointment for the past quarter amazon beat expectations when it comes to revenue about the outlook for revenue, it's all over the place. so obviously, some uncertainty is there, and also amazon got under quite some selling pressure, at least initially, after those figures came out after the market tells me an interesting 2023, especially after all these companies now. so there's job loss of young corta in new

york for a thank you to india. now, the ambassador dani conglomerate, the industrial giant has now lost a massive $100000000000.00 in market value in just a matter of days after a short seller. i serious allegations about the companies tax practices. the latest plunge came after donnie was forced to cancel a massive shasta go. so my 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 high for despite the storm breaking over his empire, the acquisition of hyper bought also comes with a significant amount of real estate and i promise you that in the years to come down from the 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 u. s. activist investor group hindenburg research triggered the dramatic fall to report cast doubt on the value of the indian group and accuses the danny of market manipulation over indebtedness and accounting fraud. a danny, canceled the groups, share f p. o. but he assured investors that the company is healthy, the fundamentals of our company, automatic strong. on balance, it is heavy. and as ash robust got him down, he rose from the 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. aliana g 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 and a long time for thousands of farmers in the countryside, the round civil will affect the hour 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 slower. all this affects profitability smaller harvest, but a better price for kilo, however, that only partially compensates for the poor crop. the knocking on godaddy, i'm her laughing without these prices. we would not even harvest at all,

it just wouldn't be worth picking the olive secret laguna, the harvest is so poor because it hasn't rained in months and the temperature has half 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 level rental. i remember at the moment we're noticing that demand is falling because oil is becoming more expensive. figured out global consumption must have fallen by around 30 percent, because there simply isn't enough production. as in every dollar bargain, i notice you present the brovio produces and under 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. i represent them, but bank,

this is what the future looks like and it is very whiting. they got a full do them all the former ignacio logging has also switch the 1st plantations to irrigation, but in one he already lacks well water. just offer a mind of the top business story that we're following for you to south. european central bank has raised interest rates, half a percentage point a signal yet another hike in march. dca has been increasing rates at a record pace in the face of high inflation muscle for me on the business name here at d. w. if you will know from us, there had to be to be dot com slash business. all the data we unusual to own or not to own. what about a sharing economy? it's did a change in thinking is changing the

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