tv Business - News Deutsche Welle March 2, 2023 11:15am-11:31am CET
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available resource that we have at the county and the state that they can provide will be thrown at this incident with more snow expected in the coming weeks, residents will have to brace for the harsh conditions to continue your watching d w. news from berlin. i'll be back at the top of the hour up next is business news with steven beardsley? i'm terry martin for me and all of us here at the w. thanks for watching. ah ah, imagine that you're eating a hamburger and as you're biting into this juicy burger,
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your dining companion says to you. actually that hamburger is not made from kaos. it's made from golden retrievers. should meet. 2 2 2 2 2 2 in meeting cultures around the world, people learn to classify a small handful of animals as edible and all the rest they classify as disgusting. a docu series about our complex relationship with animals. the great debate this week on d. w ah, ah, inflation remains sticky across much of europe in february, keeping pressure on food prices. among other things, we'll look at what energy costs in particular have to do with the grocery supply in the u. k. falling consumer spending takes india's growth down
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a notch in the 3rd quarter, knocking some of the lustre off an economy that's been a bright spot in the pandemic recovery. also in our show, india's growing footwear market means more waste. on the back end, we looked at business taking a more sustainable approach. welcome to our show. inflation in the euro zone remains almost unchanged at 8.5 percent for the 12 month period leading to february. the latest sign, the rising prices in europe are sticky or refusing to budge quickly. the latest data and initial reading shows and inflation pressures are almost unchanged from last month. when the reading sort of 8.6 percent. analysts had been predicting a bit more relief early this week. inflation indicators in germany, france and spain had also come in higher than expected. all adding to pressure on the european central bank to raise rates of u. k is also struggled with inflation of the past year in large part because of energy costs, the same driver of inflation in the u. but other factors including brags and
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a stand off between suppliers and grocers, has created something more alarming and recent weeks. visible food shortages take a look not much here, empty boxes, a handful of tomatoes, a few cucumbers enough to make a salad, but certainly not enough for all the salads. people in this london neighbourhood wanted to make stores have put buying limits on fresh groceries. it's a problem for families and for restaurants. the shortage, it makes us to change from the motto based to wide base sources. because we're can with the we, we have to make a profit. while that, whether in spain and morocco has affected their salad exports, u. k, farmers are not able to make up for the shortfall. that's because of high energy prices and traditionally low food prices that cut their margins. we were talking about this, this tom last year and i think nothing was being heard very much. assigning because
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now you're saying empty shows that and here we're talking about again, even worse, there is no end in sight. more shortages are expected. apple farmers have not been buying plants and planting more orchards. so there will be a shortage of action plant because they can't afford to, they're not getting the price empty shelf. so something brits may have to get used to kind of, i thought as head of forecasting at the center for economics and business research in london. he joins us from his home in germany. chi, thank you for coming on to the show. you know, energy costs have been high across europe. why isn't the continent seeing the same shortages as the u. k? seeing right now. yeah, that's come to the right. you mentioned that if you've contact to see the high energy prices that both do you know, energy and natural gas in particular, also needed for the production fertilizer. so that a common factor and you would expect you to comment on your to be and that you
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suffer from that, but you k suffering in particular, maybe because the breakfast related factor. so in the one hand, you have lower food production in the case because, you know, workers can come into the country and easily because freedom of movement has gone with rex. it's, there's also a change over the system of subsidies that will be played out because the u. k is moving out, we use common agricultural policy. so there's a few kind of record and you case specific factors that are in place here. to what extent was this visible as it approach there was one grow or in the piece we just saw it was that hey, the same thing was going on last year we just didn't see the shortages. is this something that should have been seen coming? yeah, you know, the industry growers and farmers have one about this and have maybe been to the government that food security cannot be taken as,
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as granted that the needs to be quality support especially you know, the lack of even the workers are going to be harder that's something that you could really the already that this was going to be an issue. and i guess, you know, in the past years increase in parts have gas, electric domestic production in the u. k. and you know, while what supply for abundance, you know, what weather conditions were good for growers in spain and the north africa and the bird flew as one of the impact that has not you know, had such a huge impact of having now you know, the situation with the manageable but now with a lot of shots coming to european countries, markets breakfast revealing the weaknesses and u. k. u. k. policy makers, me to step up at the same time. grocers have been loath to pay suppliers more as they compete for market share against one another. are higher prices, one of the clear ways out of this to encourage more growing as well,
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higher prices that households are gonna have to bear. yeah, that, that would be one of the market solutions clearly as no growers get the pricing, know that it's worth to plan more. you know, that is there's a strong incentive to rental production domestic view as well. but there still, you know, the limited supply side on the labor supply is an issue. you can get people to pick the fruit and batch, you know, also higher prices are not really helping, at least not in the short term. you know, it would need to fall off you so that you could pay higher wages so that it's worth what people to come here. so it's going to take a while. i think there's 2 and a lot of the suppliers that kind of in the market to reduce volatility. you don't want to know prices going up and down a lot. so it's going to be interesting to see how quickly they can settle. all
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right, that's kind of i thought with the center for economics and business research. thank you. thanks for having. well, shifting gears a bit, india's growth flowed between october and december. the world's largest democracy only growing 4.4 percent year on year in the 3rd quarter of its fiscal year. that's a significant drop from the previous quarter. the results showed contractions of both manufacturing and private consumption. despite the drop off, indian central bank is still expected to raise borrowing rates again. it's lifted them by 2 and a half percentage points since last year was going to choke our to k in delhi, charo from rino to s a p. we've seen that more multi nationals are looking to india for strong and safe growth these days. these new figures, especially the falling private consumption that we're seeing. does that take some of the shine off the countries economy? well steven, it does because the atheist economy, it's been
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a real bad picture about the economy. 4.4 percent growth. some said these are unexpected lines, but some economists are saying that these are not really not at all unexpected lines. and what's making these figures look worse, is that what the statistics department, the federal government has done, is that it has revised the growth estimates for the previous 3 financial years as well, and the it, and department advise them upwards. so these figures are looking even worse, but irrespective of whichever way you try to interpret this trade data, you cannot deny the fact that manufacturing is showing a contraction. you cannot deny the fact that there's weaker consumption demand. government expenditure was also very low. so overall, a growth momentum appears to be slowing. that seems to be the verdict. in this goal is 7 percent growth. at the end of this fiscal year it has one more quarter to go. it will have to pull off growth of over 5 percent. and as despite rising interest rates, a central bank expected to still a high cup interest rate is that realistic is called sam percent growth, which we should say is well above what other major economies are aiming for. well
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yes, isn't that part of the of the expectations is correct. ok. that's how the situation stands in yoyo still among the fastest growing economies of the world. and irrespective of whether it meets the 70 percent prediction or not, it is likely to be a remain at that spot. but then that doesn't say much about the situation at hand here in the country. ah, urban, you're right about the interest rates they've been rising in the i b, i has been hawkiss. it has been raising interest rates for 6 consecutive o quarters now. and in spite of that, it has not been able to get a better handle of inflation. so rising prices have brute have proven such a damper that there's, that consumption is just falling. and unless consumption rises, how do you expect to meet the 5 percent mark curve for, for one quarter? and that's really what economists are worried about at this point of time. steven, alright, my colleague charo carter k in delhi. thank you very much for staying in india.
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it's the 2nd largest global producer of footwear, after china, manufacturing $2000000000.00 pairs a years a year rather involving hundreds of production stages that consume energy also drive from burning coal, such as this waste the production process itself, places a huge burden on the environment. st site cobblers have long been a fixture of city life in india, their small shops, dutch residential neighborhoods, and market part of a traditional repair. and we use economy that extends the shelf life of shoes. it's a sustainable approach, but it's on the decline in the as economic growth has opened up new opportunities for the marginalized communities that long pursued this profession. it's also given consumers greater footwear choices and money to spend on them. to day the massive foot window st. john's out products made predominantly of synthetic materials. they're harder to repair and recycle, and often end their life dumped in the environment.
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to former athletes from delhi began looking for a way forward and started a social enterprise that uses part of its profits to provide shoes to people who can't afford them. being there, no very close to shoes running, renewed our doodle every day for my vehicle, gender. so, so that's where we thought, or let's go deeper into it. i research and found that there are $50000000.00 choose which will to learn who the teacher. and at the same time, there are people who are walking barefoot. so this is a clear connect whether if we start repairing the to the, to start up cycling the soon we can of rwanda from going to landfills and give it to someone who requires it green. so it has set up a large network of collection centers across india where people can donate unwanted footwear thousands of old or damage shoes. slippers and sandals are then processed for up cycling. the entire process is done by hand transforming the separated parts
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into function of footwear. proceeds from sales have helped provide more than $500000.00 fairs of footwear to school children in rural areas. another company is turning footwear production to cut the warrior of junk in the environment more by based start up. but docs makes shoes from discarded, tire tubes, cork, and fabric. this as you're seeing right now, is that directly from the dial from the goddard diadem that usually ends up in the landfill. this is the upgraded version which also ensures the finance. this is a mixture of or die or with some other elements that i'd executable. unsustainably by definition are truly sustainable. shoe needs to be durable, made from non polluting or recyclable material. and it should be manufactured with renewable energy sources. but experts say the best way to minimize foot,
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where's ecological footprint is for consumers to buy less and prolong the lives of the shoes. the already have. his reminder of our top business story. inflation in the year zone remained almost unchanged at 8 and a half percent for the 12 month period leading to february, laid aside that rising prices in europe are sticky or refusing to budge quickly. or that's our show more checks out of line d, w dot com slash business with nieto india. and you're just reducing the amount of water that sitting around and, and not reduce those amount of methane that's being produced. and the field rice, a food staple, and a kyla killer, asian rice,
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farmers are conducting experiments with more environmentally friendly agricultural methods. eco can deal next on d w. o, what people have to say matters to us got am. that's why we listened to their stories. reporter every weekend on d. w ah, human interventions have transformed the word, but many hom, the environment demanding a change in always.
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