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tune in. now, i discovered stories that can change your mind just to click away, find out best documentary on you to see the world already subscribed. now t d w documentary ah, bowl mas warning has wall street worried u. s. retailers save price pressures on shoppers will hit that bottom lines this year. we'll cross to our correspondents in new york to south africa is in a state of disaster over its electricity crisis. we'll ask if there's any end in sight and then an exclusive interview. the fed philippines,

foreign affairs minister explains how his country plans to balance us and china trade with debris, business and robots in berlin. welcome to the program. america's biggest retailers are expecting inflation to hit the bottom lines in 2023. us change wal mart and home depot have both offered cautious forecasts for the year ahead. think price rises a hitting some consumers. walmart is the u. s. is biggest private employer. will st stocks tumbled on tuesday as news of inflation precious rates, and best of fears that the federal reserve might need to take a more hawkish approach interest rates hikes? set them on this, that cross to the new york stock exchange speak to teddy, also correspond on their teddy. so what exactly have we been hearing from walmart and home depot? home depot. well,

what we're looking at is that in these annual projections is at home depot. wal mart, these retail giants believe that the macro situation here in the united states is going to decline that inflation is going to continue to hit americans wallets. and of course, those sales are gonna come down. now wal mart earnings did better than expected, but they seem to be still, their consumers are getting hit by inflation. we're seeing sales down in, in things like apparel and home goods. but it is a bargain retailer. right. americans are buying their groceries at wal mart. now at home depot, we're seeing that a decline and forecasts because of a $1000000000.00 investment. they claim in wage increases in retaining their staff . so as the reaction been like that where you are well, wall street isn't particularly surprised or frightened by wal mart. however, at home depot that $1000000000.00 investment in the workforce, that is bringing that stock down. but really the news today on wall street is

across the indexes of the markets really are scared that the fed is going to continue down its hawkish path. we saw at the beginning of this year recovery calculation that there might be a pivot that the fed will be cutting rates, but indeed there seems to be a return on that calculation. okay, so the also the new york stock exchange, thanks a lot for the update. now south africans have suffered years of rolling power cuts, but just recently things have gotten much worse. earlier this month, the country's government declared a state of disaster with energy utility. ask them in deep crisis, left quite literally in the dark. many south africans are now wondering when their electricity struggle will end. forced to so by candlelight fraser. caswell, a seamstress and cape towns, mitchell's plane township has had to give up a lot of her clients due to rolling power outages that have become a part of life across south africa. i couldn't take a look, so it was just home,

but i never disappointing. so i always try to finish up. we us, so community close with south africans left out a 10 hours a day without electricity because of rolling blackouts by struggling state utility . ask on the city of cape town, aims to have power cuts for its residents by 2026. or you can go in economy with the power. so we would not be having this discussion as a city, if it is commas working. if the statement awfully was working, but like many stake monopolies around the world, it is not working. it is very ineffective. it has not invested adequately. it is very bloated. it is very, very corrupted. is that the center of south africa stud kept a scandal of the last few years. so it does a require moving away from cape town, issued a 200 megawatts or energy tender last year and expects to follow with another in the next few weeks. officials plan to procure up to 500 megawatts from private

power companies by 2026 to provide roughly a 3rd of this city's annual tricity needs. ultimately, we would look at producing as much all it was from the school as recruit. um, but i would say for the next 5 years or so, certainly still the majority of the both the power will come from his home. but to the center, we will be able to reduce the demand to the point where the amount that we have to ship 5 per stage would obviously drop. other cities, including johan iceberg are looking at issuing similar contracts with private power companies and sore energy tenders. but there are major challenges, for example, so far it's mainly just large businesses and wealthy residents who can afford to install solar panels. alternative energy companies now want to help low income households. i shopping, i think in the sunni, able to the city. and it is like that we do dressmaker phase that

caswell hope. so one day she will also be able to afford solar panels to easy impact of the persistent outages. so it's actually being done to en, south africa's electricity crisis. well, as the question that we put to alice von held her reporting from kicked well, it's clear that africa will need older, extra power. it can get sold as many plans, many projects. for example, wind energy, solar energy, i think, as well last year during the climate change conference, the hope was that i forgot maybe really go green. well, the government is clear, we still need coal. we still need nuclear energy. so to go to work on all these projects, what they are going to do is going to be easier for private entities to have a solar form or have a wind farm and filled up electricity. and also consumers,

if they do have the means to boots solar panels on the rooftops, and they have extra power left that they're not using for the household. they can send it back to, to sit african government. so many plans but not a lot of confidence because that african say we've been hearing is for a long time. now this is a crisis that has been in the making for many, many years. if you look at the power stations here, on average, i think they're like 40 years plus olds. so the infrastructure has been agent has been breaking down. there's been a lot of mission management and corruption as well in the, in the power utility s. com. so people have actually lost hope. this is not a crisis that's going to go away soon. so africa is playing catch up and not a game. you're going to win and winter's coming. so the fear is a might all get worse. allison held that now the government of the philippines is

hoping to perform a diplomatic balancing act, a want to increase trade type with china, while also building relations with the united states can really be a friend to all as the government that claims philippine foreign minister and re came in knowledge has been speaking to d, w businesses. janelle dem allowed secretary manella. thank you so much for joining us today. it was a hope of the previous administration, of course that china will deliver a lot in terms of infrastructure in terms of investment, not that much of what was promised actually delivered in the end the current government of ferdinand marcos. junior, he is also looking to pursue deals in infrastructure, agriculture, tourism. how confident is he that the chinese would deliver a little bit more for him than they did for the therapist? well, we're hopeful because when he, the president visited china last month, and there were a round of meetings amongst businessmen, not government,

the government business. and quite a number of them. investment pledges were made almost $22000000000.00 worth. so where hopeful that that this will actually materialize because there was definite interest on the part of the chinese investors to come to the philippines. so we really have to see how much of these can be translated into actual projects. we hope it does, because that would certainly be a big boon to our economy and also, you know, be a source of employment, i suppose, because there is a key difference between now and then between when do there at the made these deals? and when marcus has now made these deals, and that is of course, the positioning towards the us, why would they deliver more for the philippines now? well, i would benefit china. i think also for investment wise it's, you know,

in terms of business and the whole idea is to see how we can promote economic ties and then make pro and then get the business men and the people to profit from this . and we have also recently signed into the our sip, the regional comprehensive economic partnership with china is also a member with 14 other countries. so i think these are meant to, these are actually, you can nominate or business transactions. so i basically would go in there only if you would benefit and i think that's all china would, would hopefully that's how they would perhaps just speaking from the perspective of germany, there's been a lot of review of the idea that economic engagement brings countries into the community of nations and germany has learned this lesson of the hard way with regard to russia doesn't the philippines have similar worries with regard to the entanglement with china, like not a democratic state and authoritarian one. well,

we don't actually have a policy to prevent what we do is have a policy of diverse diversifying our interests. so for example, when we say we are friends to all that includes also economic ties. so just last week the president went to japan and we also had a number of investment agreements there, monday to almost $14000000000.00. and we have extensive arrangements with, with australia and other countries. so we are trying to not put all our eggs all in one basket, and that's exactly what we mean, or that's part of the meaning of our independent foreign policy. so while we have no particular policy to, let's say, minimize relations with any countries, we seek to maximize relations with as many countries as possible. thank you very much. thank you. and just lastly to spanish transport officials have resign day or

a quarter of a 1000000000. your order for trains that could not fit through some tunnels. operator ren fe, ordered the trains in 2020, but the following year manufacturer a calf realized that the dimensions it had been given were inaccurate and stopped construction. the spanish government says the mistake was spotted early enough to avoid financial loss, however, the region of contemporary is demanding compensation. ah, so from us until next time. ah. a rising out of comedy bank. this is the dream is diego nope, is from colombia to private foundation. he can give out his passions together with other children, from the poor neighborhoods in bocca town. thanks to dedication and perseverance

with golden, 3000. next on d, w. one years of war in ukraine. how has it affected the economy, our sanctions against russia working? our overview covers booming ukrainian. i. t firms supporting their homeland skyrocketing natural gas prices and an evolving cyber war that's more dangerous than ever made in germany. in 60 minutes on d, w. o. mind is with getting ahead, using tech as our documentary series of founders valley foliage africa.

to meet the founders empowering their continent through digital innovation. all the transformer work and health, and living conditions in their country, and inspiring the world with their ideas. founders valley after talk to the watch now who w documentary. do? oh, welcome to global 3000. let me dance a young man from columbia defies norms proving that dreams can come true.