against them the last time around whenever the outcome, this rivalry is about more than just points. pride in bragging rights also on the line as our time, but after a short break chrissy plans, there will be here with all the latest from the world of business. this one is a special shell for so make sure to stay an extra tune up. really thank you so much for a company with so i was just rescuing daughter from a farm. this one the study globally. i found it like this and i couldn't just leave it there. i should meet her. this is such

a great burden with it was so dirty that cleaning your turn, the entire bathroom into maps. this is the water birds 1st swelled one of the most beautiful moments i've ever experienced. that a trip with a dock you series about our complex relationship with animals. well, i think i will live long enough to witness the end of factory farming. the great eat debate this week on d. w a ah, the u. s. and e u. find common ground on the inflation reduction act. the european commission president was in washington for a word with joe biden about his controversial subsidies for green business. we'll hear from our correspondent, also on the show. it's the largest bank failure since the took 2008 financial

crisis, us authorities seized control of silicon valley bank after a run on deposits. punch global banking shares into tor mile. we've got more from wall street, and the 4 day work week is proving popular, particularly among the small business. welcome to the w business. i'm christy plats and in berlin. u. s. president joe biden and european commission president ursula bonner lyons say they've made a breakthrough to resolve conflict over the inflation reduction act. the european union fears the massive package of subsidies for green tech companies in the u. s. could lower business out of the block up for discussion was extending the favorable conditions to e companies in hopes of avoiding a subsidy war. in a joint statement, the 2 sides said that they would start work on a critical raw materials agreement to end the dispute. 6 or for more we go now to d. w is mikaela cook. now in washington, mikaela, what came out of the talk center, they just finished up well, a very,

a well choreographed, of breakthrough on the inflation reduction act. that's some, almost 4 and a $1000000000.00 worth of subsidies on state support. an investment in green tech industry here in the united states. and that had left out european countries a simply a warrant within the umbrella of that agreement. because the, you doesn't have a trade agreement with the united states. now it was a funder lying came here, and this was, of course, very well prepared, knowing that they would need to have something to present. and what the 2 leaders of launched to day is more talks. yes, but with a clear target of actually reaching an agreement on those crucial role materials needed at fort green tech of the future that goes into batteries for instance. and that will make it easier for also e, you companies to get at least gain some access to the tax breaks and the subsidies

at that are under the so called ira umbrella. so at least something in foot was off on the line has to. so for this visit, that is more concrete than just pledge is of unity in this transatlantic alliance. i saw a lots of talk, a little comment. it sounds like progress has been a made. now talking about critical raw materials. i know we're also talking about minerals for electric cars. did they talk about electric cars and any progress they've made there? can you tell us anything about that? well, that really feeds into electric car production. what you're unlikely to see is that entire cars will be exempt from that and both sides are still and it's, it's an open secret, really competing for where there's industry's of the future will be base. but what both sides have now found is that companies are frank, be shopping around at fort worth, where they can get at the biggest subsidies, even if those subsidies don't necessarily determine whether they will build that

next battery factory. for instance, in the e u or in the united states and all the companies we spoke to here at this and also said that there are other factors that play into this, for instance, em skilled labor. that is a huge shortage actually in the united states, not just in europe. and so the, this looked like a good, a great times for companies to actually get subsidies without really a new investment decision in returns selling already made decisions as something new. and they're both sides have discovered a joint interest and have said that they will coordinate better in the future. basically let each other know about subsidies that they are planning and be talking to each other. and not just that companies shop around for the highest subsidies or may hale. i could not bring up insights from washington. thank you so much. us authorities have sees control of silicon valley bank to protect depositors at

the california base bank, as banks whoa! as a spark, fearsome contagion in the sector. silicon valley bank says it last $1800000000.00 in sales of securities in an effort to raise funds with interest rates rising sb be saw heavy withdrawals and needed more liquidity. sb be worked with over half of us tech and health care startups. it's shares dropped 60 percent on the news taking other us banks down as well. for more we have young quarter with us from new york. now young. the wall street journal has said that this is the 2nd biggest bank failure in u. s. history. how significant is this collapse? juliet is very significant and banks di overnight. so the saying goes, i mean this time around, regulators didn't even wait for the student, but they control during office hours, so to speak. it is definitely especially the speed of the call up so quite

breathtaking. the stock already got to hold it to before and a lot of other financial institutions. and also stocks got under heavy selling, a pressure here on the last the trading session of the week. sounds like an exciting day at the office for those people. i mean, this is the 2nd us bank failure this week after silver gate. is this purely a coincidence? or is this sign of a sign something greater happening in the space? i don't think that it's a coincidence. there is a lot of pressure building up. and if you see what happened, specially with the silicon valley bank, one of the problems is that the federal reserve with a rapid speed has increased interest rates in the last year. that on the other side has put pressure on price. this for a treasury, for bonds in general, and that actually is cost a lot of us bank to sit on unrealized losses. that is not

a problem unless clients come and want to have their money back, because at that point, banks are forced to sell an essence of treasury with a big loss. and then we have the problem that silicon valley bank is facing. so it is not unlikely that other smaller regional banks might also get under quite some pressure. what i do here from experts in general, nobody really believes this is a situation like 2008 when we had the big financial crisis. but it all depends on clients and the mood overall. if we will have more runs on the bank in the days and weeks to come as an exciting, close out to the week. that was the court in new york have a great weekend now to some of the other global business stories making news. the u. s. government is reporting that employers added more than $300000.00 jobs last month, despite beating expectations. analysts say the federal reserve still might increase

interest rates again as a way to combat inflation. when the fed type is credited typically means higher rates on mortgages, cars and business loan as was credit card borrowing german rail operator deutsch. a bon is wording while way, a $68000000.00 contract to supply components as it undergoes a digital overhaul. germany recently said it was considering banding, the chinese company from providing parts for telecom infrastructure, citing security concerns. the deal was made in december, but had not been previously reported. france u. k. relations are getting a renewed start french president in manuel macro and u. k. prime minister. soon after our meeting to discuss closer economic and political couple cooperation between their country. it's the 1st bilateral summit in 5 years time between the 2 countries have often been rocky. britain voted to leave the european union. now i'm talking to you on a friday and if before day work week were in place, then i should well be into my weekend already. now that's not my reality. but small

businesses in london have held onto the shorter work week model beyond a pilot program. why they considered successful? the last customer of the week comes in on thursday, because in this bicycle workshop frames are only repaired for days a week and fridays are off. a dream for shop own anna, who's throwing all fears overboard with the customers. going to be upset because they enter, they can only come monday to thursday. you know, we're going to have problems with suppliers and getting things when we need them. but then there were other things like and are we going to create some kind of halloween? monday to thursday is just really horrendous. for the past year. her employees have been coming to work half an hour early to this allows them to organize the day to compensate for the hours. they don't work on friday. also increasing productivity.

all the while getting paid the same. that makes you want to work harder. you know, you don't mind putting in the effort because you know that your, you're getting it back and you feel, i think probably feel more valued. it's a model that's been working in other companies to the largest trial in the world. $61.00 british companies tested the 4 day week for 6 months. the majority want to keep it that's because 39 percent of employees were less stressed. the companies reported 65 percent a few sick days and increased revenue by 1.4 percent. a key factor in this with employee satisfaction, according to the studies authors, health and wellbeing of employees themselves. that has been around effect, so not just and basically working people to the bone. you also increase the quality

of their work increase in the loyalty and half of happiness, not having to recruit all the time or will struggle to retain staff. in fact, you have a strong company with workers who are happy and attentive. it's the same at the bike repair shop, although his workload has remained the same. jack feels much less stressed with the 4 day week. it's great. it gives you time to relax and unwind and still have time to get chose down to the house and spend it out with it with the pon a so it's a huge improvement. say general balance here. they want to stick to the 4 day week and wish each other a nice weekend when they leave work on thursday evening. and let's have a another look at the top business story that were falling for you. this our u. s. president joe biden, and european commission president ursula vander land say they've made a breakthrough to resolve conflict over the inflation reduction act. the 2 sides

said that they would start work on a critical raw materials agreement to end the dispute over green manufacturing subsidies. oh that's our show. if you'd like more you can find us on v w dot com slash business. we're also on the dw news, youtube channel, and on facebook, i'm christy plants and coming to you from berlin for me and the whole team. thanks for watching and have a wonderful weekend and well, making the headlights and what's behind van d. w. news africa. the show, the faculty issues have been the continent. life is slowly getting back to normal. you are on the streets to give you enough reports on the inside of our cars,

funds and was on the ground reporting from across the continent. all the trend stuff. the mazda you next on d, w, india, sand mining up to coast. mm hm. bye. driving bus. and legal $1000000000.00 business with a devastating impact on the environment to this to my lead, stood up against the mafia. and thrash him down to tack multiple times. eco, india. in 60 minutes on d w. oh. hello guys. this is the 77 percent. the platform for

africa, you to repeat issues and share ideas you know, or this channel. we are not afraid to happen delicate the topic because population is growing and young people clearly have the solution. the future belongs to the 77 percent every weekend on d w this is d, dublin years, africa coming up on the program, the wounds of war and if the opium with sexual violence used as a weapon of war, we hear the harrowing testimony of a 16 year old girl who was raped, she says fine ethiopian soldier, also coming up taking matters into her.