jasmine, chuck zoloft salts has visited the white house for the 1st time since roches invasion. if you cried, president joe biden sank sholtes for what he called profound support. and you're up to date coming up next to chris steve plots and has your business update. there's more bad news for those of you who aren't crypto currencies. billed me. i'm john radio, berlin, where you're watching. have a good day. ah ah, every jenny is full of surprises. we've gone all out to give you some tips one day in the 4th grade. i'm in your northern most count,

please. ah, 3 times longer, but still very much alive, d w, travel, you'll go to the special with recognizes where exactly. it was fun and i've learned a lot. our culture history. all their d. w. travel extremely worth a visit with another crypto crisis, hips coined prices. crypto companies are cutting business with silver gate after the crypto under warned it's future is in jeopardy. what's it mean for digital currency is that we'll find out also on the show german sir olaf schultz is in the

us to have a word with biden, about a massive package of green subsidies that could hurt investments in europe. and global leaders are pouring billions into saving one of the biggest economies, the world's oceans, expert gift price tag. i'm christy, platinum, berlin, back with a another d w business show shares in silver gate. a major crypto currency lender have tumbled more than 50 percent after the bank warned of a possible collapse. silver gates woes are the latest to be triggered by the bankruptcy of f. t x, a crypto exchange whose former seo is accused of fraud. f d x says billions of funds are still on accounted for, and that includes money lent to be exchanged by silver gate. the california base bank has delayed its annual report and announced it would sell more of its assets in order to pay payback. it's dense. well, let's get how a volatile and also how interconnected to the crypto market. it's now silver

gate is maybe even facing a bankruptcy. i mean, it's not given a yet, but that stock used to be a $200.00 stock. now it's down to about $5.00 a piece. so it definitely is some alarming and development clearly for a silver gate, but it also shows if one thing happens in the crypto market and other parts, not just the crypto world, but other areas of the financial market also could be impacted. you could say, thankfully the traditional banking system is not so deeply intertwined to into the crypto world so that we are not facing anything like a financial collapse or anything even close at this point. okay, well i'm glad to hear that. but looking at the crypt space, specifically, i'm getting quite used to announcing these little crises, or i don't know if there is a little, i mean, what sort of shape is the crypto market in overall right now?

it goes in and this is really been very interesting if you think back in november of and f t x collapse the coins themselves. so the crypto currency itself hardly reacted. i mean, we did see quite a fall out earlier last year. bitcoin, for example, about a year ago that so that around $40000.00 a piece. and now it's down to about $20.00 to $23000.00. and in the past couple of money, besides all the scandals, all the fall out from f t x and the like says not effect that the coins in decrypted currency. it's so much. but now investors definitely get a bit more uneasy at the risk the latest that we, that we've seen. now bitcoin, for example, losing about 5 percent of the value of this friday, a bit co and sir. so those 2 coins or 2 jenner missouri together last the markets here off about $24000000000.00 here shortly before the weekend alone. so definitely

not really a good week and a day of further across the industry. certainly not that was yonce car to new york . thank you. well, german chancellor, olaf shalt is in washington d. c for a meeting with president joe biden. the war and ukraine top the leaders agenda. but schultz also wants a word about the inflation reduction act, which creates massive financial incentives for green business in the u. s. europe fears it will lower investment away from its own borders. and this fear is not without reason. european firms say that they'll go where conditions are best at the company burglar, they're particularly proud of this machine, the laminator, which presses photovoltaic systems from various individual parts and dust, so particularly quickly, they can produce up to $116.00 panels an hour buckler cells. these machines mostly to asia, but to the rest of europe to these and largest bethesda,

this plant in particular, will stay in europe. but of course, future plants will increasingly go to the usa afterwards. partly, or even completely due to the program figures for homes. that's because the new $1000000000.00 subsidies in the us now make it particularly attractive to produce green technology there, including solar cells. robert geyser has already traveled there to make contacts and deliver his machines. as machines also as a mechanical engineer, you say fine. so the project will take place somewhere else as long as you're involved somehow, ah, but when i see this personally as a european, these investments are needed in europe and have now been cancelled by investors and manufacturers and are being relocated to the usa wouldn't been in the was awful lot of like here many entrepreneurs are hoping for solar boom and europe, seeing it as a technology of the future to help mitigate the climate crisis. time is of the essence. we have no, not,

we only have 20 to 30 years left. then there's no going back on the seo to issue. we have huge problems and in such a significant situation, we have to act. in other words, at the e u. subsidies so far are insufficient to attract investors to europe. meaning the continent is lagging hopelessly behind the year where now quite late. europe's perhaps the last major industrial location in the world to get on board. so we can learn from what other countries are doing. what have they done well, to ramp up industry there to form it's hoped that could trigger a new boom and european green technology, which well that kaiser thinks will lead to more customers closer to home, unsecure jobs. you're going all we need customers in partners, especially in europe with whom we can work together to supply them the next generation of equipment and develop accordingly by lincoln. he feels that without quickened on bureaucratic help,

europe will once again become dependent on other countries for a key technology of the future. here's what else is happening in business today. volkswagen shares jumped more than 10 percent on friday. the german car maker unveiled and optimistic earning forecast for this year as supply chain disruptions ease. it reported a net profit of $15800000000.00 euros for 2022 and that sales rose nearly 12 percent. nigeria, supreme court has ordered the central bank to extend the use of old narrow bank notes until the end of this year. the withdrawal of the old currency last month caused cash shortages, widespread hardship and anger. the replacement banknotes have been in short supply, making it difficult to pay cash for goods and services. business business and political leaders are pledging billions and aid to protect the world's oceans from pollution, over fishing and even mining the global to day. our ocean conference is being held

in panama. the u. s. has already pledged $6000000000.00 towards dozens of projects, including green shipping corridors. the e. u has earmarked over 8800000000 euros towards research and monitoring. but many regions of the high seas fall outside of international jurisdiction. scientists say roughly half of the oxygen we breathe, comes from the ocean, making conservation crucial. or for a deeper dive into this ocean story, i'm joined now by hines. come out, he's written a book on the economic significance of the world's oceans. now hines, can we put a dollar value on our oceans? i mean, what are they actually worse than economic terms? yes, we can do. there are different ways of looking at it. if we're live by lucky aside, for example, we can say that 90 percent of all goods are transported on the oceans. globalization would not exist without the oceans. and then we have well yours, that cannot be expressed in monetary terms. you mentioned the oxygen out to express

the value of oxygen that the oceans produce. the oxygen of every 2nd priest comes from great trust and the oceans that do photosynthesis, predominantly from bacteria. now you mentioned leaving aside biological aspects of the ocean. i mean, of course, there we're talking about ocean plants, about fishing. what is the economic value of those the, the biggest economics who l. u. s. the food supplied, especially for the poorer countries. fisheries are worth about $85.00 bill young with the low, you and illegal fishing is additional for about $25000000.00 west or you know, maybe even $50000000000.00 that is fatal for stock of fish stocks, especially for expensive and therefore rare speeches. if you get $100000.00 us dollar for atlantic roofing or not in japan,

of $50000.00 gustavo way shock in china, you will always find some fishing them illegally. and this is really a big threat. tourism is also very big economic, fuck. so for example, in australia alone, 65000 people live off the crate for right now, i know that you've said that the coral reef is the most important economy in the ocean. why is that aside from tourism? yeah, the different reasons, the tropical core roots really, really special about the 1000000000 people depend economically on functional reefs. this concerns the tourism industry, the food industry and even new medical agents. but the greatest value, however, is the coastal protection, coral reef protect, for example, the coast. so from $5.00 to $100.00 countries because they take about 97

percent of the energy from the waves. so by a look just made estimate the, well you of course, risk to year at about 375000000000 till 10 trillion to as follow. this is a really huge money. in comparison of 2022 profit was about 89000000000 westerlo. so that really pales in comparison. that was heinz claim our author an ocean expert. thank you for joining us. you're welcome. sticking with the ocean, if you have a few 1000000 euros to spare, what better way to get around than on your own? luxury super yacht from the do by boat show. the soaring as she's known as a 68 meter long boat, a virtual mansion on the sea, with luxury interiors worthy of any high class residence. and she can be yours for mir pocket. change at just $88000000.00. the super yacht is just one of many are on

show until sunday. the global yacht market was worth around 9000000000 euros last year with the middle east, a key growth reach, and of course, wealthy individuals and rental companies were the biggest buyers. that's our show i'm christy. platinum. berlin, thanks so much for watching with what's making the headlines and what's behind d. w. news africa. the show. the faculty issues shaping the continent. life is slowly getting back to normal here on the street to give you enough reports on the inside. our cars funds is on the ground reporting from across the continent. all the trends about the mob to you next to the w. everybody knows, fuels made from petroleum,

goes large amounts of c, o 2. are synthetic combustibles noticed he feels a little tentative. we scientists are researching that production. how exactly does it work? and do e fuels have a west energy balance rep? in 60 minutes on d, w o u king was like a stepping point to, you know, i bought you into that board. you want to me, finish your studies. now you have a certificate from crane. you can choose to go back or somewhere else. currently, more people than ever on the move world wide in such a better life. so why do i want to go back and i j like i don't have any reason to,

but there's no reason that's moving for me that yeah, i believe something great is coming very, very soon. and yeah, can we learn more about la valise story in for my rely will need so migraines, wherever they may be. ah, this is deed of the news africa coming up on the program. nigeria decides on its next president, but with questions over the credibility of the election ballot to noble will be the next leader of africa. most populous country will review the process that brought him in and ask why my jury had its lowest avvo voter turnout.