in 3 weeks and you're up to date here on t w. rob, what's has your business update after the break? tesla wants to shift production of car batteries from germany to the us, to take advantage of generous subsidies stay up in a few moments time. of course is more in d, w dot com and on social media to say, i'm jared read here in berlin. thank you with every day for us and for our planet, with global ideas is on its way to bring you more conservation.

how do we make cities greener? how can we protect animals and their habitats? what to do with all our waste? we can make a difference by choosing reforestation over deforestation recycling over disposable smart new solutions overseas said in our ways or is truly unique. and we know that, that uniqueness is what allows us to live and survive. google ideas, the environmental series in global 3000 on d, w, and online with, ah, a blow to your electric vehicle plans, teslas scaling back. it's jim and battery building ambitions in favor of chasing subsidies in the u. s. when it stoked the existing trans atlantic tensions regulators in the state of charge to south to re encrypt entrepreneur after invest

as last billions will discuss what went wrong for don't quan and how would you like to work a day less every week? well, a major trial in the u. k. being held as a success is the state of the business. i'm a boss in berlin. welcome to the program. tesla says it's scaling back. it's plans to produce electric car batteries in germany, instead, it'll focus on its operations in the us to take advantage of generous subsidies being offered that test. lo, which has a plant just outside of berlin, cited president biden's inflation reduction act. when explaining its decision, it's one of the 1st companies to make such a move, which the leaders were concerned might happen. if accused the u. s. of favoring their own produces at the expense of european businesses. or i spoke to our financial correspondence in new york. teddy austro, asking him whether tested decision proves the european union right about its concerns about the inflation reduction act. well,

it's certainly having its intended effect of the biden administration. right. use me, i'm on camera. intended effective the abide in administration to court electric vehicle companies to court battery companies to produce their product here in the united states. and that's because the inflation reduction act, right? it provides pretty significant tax credit to the financial incentives are very, very strong. now, tesla is just one of the 1st firms to state openly, right, that they are oriented more towards the united states because of the i r re, there could be other reasons such as the high energy prices in germany versus the united states. so there could be other reason there and now the you, of course, is trying to fight back with some of its own experimenting with a program of own, but i think we should expect to see this trend continue. biden bid him set some confession to try and locate the european union. leaders have been so upset about

this. so we actually say any sign of any changes to the i or re, to, you know, to, to, to ease those tensions. well, biden does have a lot of domestic pressure. i think that's important to state. for example, there's a lot of major labor unions that would like to keep those production jobs here in the united states. there's also environmental groups. there's also consumer interest groups abide and you're right, has sort of nodded to the earth in union, nodded to make promises to try to keep those incentives are interpret the law. can't really change much involvement to interpret the law to provide financial incentives to european countries which have free trade agreements with the united states. but really, it's very unclear. this is flagship legislation or bite. and they said he also at the new york stuff. he's changed a little bit busy things. now,

one crucial ingredient for tesla's batteries is lithium, and mexico is hoping to be a major supplier of the mineral. i suppose president abra door has signed a decree, nationalizing a lithium reserve found in the north of the country is a deal that is bound to interest tesla which has its eyes on building a factory that chandel mexican president, andreas manuel lopez abra door, is hoping his country will become more formidable force in the electric battery market. he signed a decree, nationalizing lithium reserves found in the northwest state of sonora, on the us border. a move he says, will prevent the resource from being exploited by foreigners, particularly russia. china and the united states. moreland is utilization has already been made. the law has been passed and the legislature and the lithium belongs to the nation vill tesla has expressed interest in building a plant in another northern region while president abra door welcomes the electric

car makers presence in the country. he's concerned the north might not have enough water to support a factory. he's touted the south an area where he's trying to draw more investment . and we're 70 percent of mexico's water comes from president abra door and tesla ceo. ellen musk are expected to discuss the issue directly. i know you had a written. now let's take a look at some of the other global business stories that are making the news heineken as struggling to pull out of russia almost a year after it's close to leave due to the war in ukraine. bruce, as it's still trying to find a reliable buyer for its business in the country, and it's best to sell a 300000000 euro loss more than 20 percent of the energy produced in the e. u between march last year and january came from wind and solar energy. according to research, think tank amber climate says the surgeon renewable energy production. load the need for gas imports, allowing the block to save 12000000000 euros. and staying with energy,

france is now partly powered by organic waste. total energy is new production facility has started pumping by o me thing into the countries gas that were it's a project that projected to eventually supply for $30000.00 homes each year. now u. s. regulators have charged a crypto entrepreneur of orchestrating a multi $1000000000.00 crypto asset securities fraud, and he appears to now be in hiding the collapse of dough cons firmed reform labs last year. wiped out about $40000000000.00 of investors money and shook global crypto markets. the firm had developed the terra luna and tara u. s. d tokens. the securities and exchange commission accuses kwan and tara form of failing to be truthful with the public about the crypto assets. still deeper into what starting to feel like

a familiar story with sam kessler from crypto news website. coin to ask is great to have you with us, sam. you know, just tell us a bit more about who daquan was and where it went wrong with her form. yeah, thanks so much for having me. so, so like you mentioned, kwan was a south korean crypto founder. he went to stanford and he created tara watching ecosystem and tara, from labs the company behind it, at the core of this ecosystem, with something called a stable coin. so in the ball, the world of crypto stable coins are kind of the juice that fuel the entire, the centralized finance ecosystem. because they, they stake pegged to the price of a stable asset. in this case, u. s. t, tara stable wednesday unpaid to the price of $1.00 us dollar. and unlike other stable coins that have $1.00 in the bank for every crypto token, this token was supposed to be the centralized meeting. there was a quote unquote algorithm that kept it at $1.00, but we see for the store is going,

the algorithm did not work. so $40000000000.00 went to virtually nothing in just a couple of days. back in 2022 about a year ago. this next month, and so i'm just like, is it normally enough to get the c c involved? so what are they saying that the count has done wrong in the telephone? the wrong? yeah, so it's not as simple as just like a business failing, even though i'm terrified labs and no one will tell you that's the case. but like you said on the s c. c content that tara form and joke, one committed securities fraud and they had a lot of pretty big claims in this complaint that they filed against terror form and joke on. so 1st off, they say that call himself personally cashed out funds that belong to the ecosystem . millions of dollars to personal accounts, they say also that he learned in the users to the ecosystem using a centrally false promises and really predatory incentive schemes. and they did

things that essentially misrepresented the algorithm as being more safe than it actually was. and just put a bunch of money into this ecosystem from retail invest. there's largely who had no idea what they were actually getting into some just just briefly few is going to notice the pattern here with the and i will be thinking of some by going afraid of the nice thing that i can tell you guys are getting themselves into a lot of trouble. how high is confidence in the crypt marcus these days? briefly, if you can it's not as high as it was. i think most investors will tell you that the space is a lot larger than it was last time. there was a fair market a few years ago, but yeah, this is definitely her confidence because these things that were, you know, there's criminal filings against them. it wasn't just simple failures. they were core, they being at t x and tara to the entire crypto ecosystem. so their failures, their, you know, outright wise and, you know, you know, frauds as you know, we're,

we're led to believe now i have definitely had a chilling effect. ok, well some kessler think the stain across that or is that some cancer from coined for me? now, how does a 4 day working week sound in the u. k, the world's largest trial scheme align work, is that an extra day off each week is being held as a success. most of the companies in bo say the benefits that made themselves clear and they're not ready to go back just yet. fay johnson smith brings homemade cupcakes into the office. she likes to bake in her spare time, which she now has more of her employer is one of 60 companies in the u. k. that took part in a 4 day work week trial. i found that just having that one extra day off her week give me so much more time to recover right after having such an emotionally draining and demanding job, it would take a lot for me to look for

a job bouts. why now staff have reported better overall well being, but the payoff has been big for bosses to one expect can see was the so much was the, the dropping absenteeism as much this increase in happiness is reduction and tiredness because i think we were most concerned about was this idea, would people become more towards a more stress because they were trying to compress their hours? and that's not been the case. businesses reported that revenue increased 1.4 percent on average, and 9 out of 10 companies in the pilot say they will keep the 4 day week. some experts predict that not adapting to the emerging model may put firms at a disadvantage. so you're going to say that right, what's causing jobs? so i'd say we just aren't going to get the best times buying. so once we get that tipping point, it's not a question of whether companies want to be in the new bugs. it's question if

they're not seeing this movie, it's not going to get the police, they need convincing other companies to go. the new route may end up being the toughest part of the job. now, so for me, the business team here in berlin, if you are more from us, you can edit a d dot com slash business they'll find is on the d to we and use youtube channel till we see you next time with conflict. the war in ukraine got a problem for international squat life. this past week. i level politicians method, community purity conference, to discuss more and the 8th grade. my guess this week is a ukrainian m p. i went to a gun to ranko who's for that policy to feel promising. international support,

country and more powerful weapons with a willing, emergent, but glue shia is really at the what was the relationship fortune was kept dories deals shifting us plus yes sir, this is to consequence for settlement. folks. i'm to find out 10 voices, one european war conflict in ukraine. in 45 minutes on d, w. a. gen these had 1111. not a single one. mission is the 1st female jannen. israel has

a gender gap in space exploration. germany's 1st female astronaut, it has been waiting for years to get her turn. a private initiative is pushing to make it happen. me personally. it's just a dream of who i sat. i've always wanted to see the us from a distance for face starts more changed on d, w. the war in ukraine got a powerful international spotlight this past week. almost exactly, year after it began. i level politicians math at the munich security conference to discuss more and foster aid to ukraine and to try to cement their unity and commitment to the countries victory. my guest this week is the ukrainian m p.