a title over in the men's singles, the current champion also remained in the race to defend his crown. american taylor fritz showed his class by dropping just 3 games on his way to a commanding victory over sebastian by as a 6162. when showed off his fine form and you are watching d. w news from berlin in just a moment. marie c nerve from d w. business will be here with market reaction to worries over the us banking sector. i'm terry martin. thanks for with day was today we'll make the agenda here just in the gym. love on banning thing that way, but i'm not even know how to work my own car and everyone with later holes and everything today. just getting, are you ready to meet the german can join me,

right. just do it on d. w. a has to put, did you do the food? i played tennis testing. she survived osha bits. thanks to music and me. he was the nazis favorite conductor to musicians under the swastika, a documentary about the sounds of power and inspiring story about survival. music in nazi germany, watch now on youtube. d. w documentary. ah, markets tumble across the globe as the biggest bang collapses. the 2008 financial crisis stokes investor fears could collapse as hit the rest of the world. we take a look and also on the show. none aboard how a belgian start up is bringing remote work to the shipping industry and it is hard

to find staff in a fortress after rec, that capital owners in england struggle with 1st world problems. this is dw business news. i money's enough welcome the collapse of 2 american banks ascending shock waves around the world and putting pressure on markets. investors are worried about a contagion effect beyond the u. s. aden shares are seeing steep losses on tuesday and european banking socks. suffer their biggest drop in the year. you as president joe biden saw to reassure depositors on monday, insisting he will provide for the safety of the banking system. meanwhile, whole however, ratings agency moody's downgraded the debt ratings of collapse signature bank. deep into junk territory. moody is also place the ratings of 6 other u. s. banks under review for a downgrade. now helping fuel those fears over mid sized lenders is

the concern that many of them may be sitting on under valued assets because of interest rate hikes when interest rate hikes were low. banks like s v be deposited their customers funds into long term bonds. does interest rates have climbed dramatically over the last year? they lost money on those investments. now that's not no problem. usually the bank can wait until the bonds are repaid. but if the bank is forced to sell bonds and books the loss, the same time rising interest rates are customers in s v b 's case, the struggling tech industry withdraw money. so the bank had to sell assets. booking those losses because they had to meet withdraw requests that turned into a spiral of fear and to run on the banks. hon space i book us is joining me now. he is chair of banking and financial services at the university of who and hines and germany mr. book are at the heart of this story as we just saw,

our rising interest rates. and we're not only seeing those in the u. s. though the e. c. b, for example, is also jacking up rates. can we expect more collapses of these smaller regional banks to follow and other countries now look really became expected. what you must say is that the fast increase in interest rate, c, e, c, b was forced to undertake you to inflation leads to certain vulnerability, and this is very evident in europe. you should be, should have started one, you're always increasing interest rate. now he has to do it very steeply, and this means for a long term bonds lose a lot of value. and if you have to realize this value and be trouble. but it's a question about trust sep in california was a class of the bank run. when there's a ronald liquidity, no bank we survives that on this bank was badly place to cope with such a problem as it didn't even made

a proper risk management. also interest rate exposure. ok. so this seems to be contained likely to the specific bank. now the fed is meeting again next week to decide on interest rate increases before the bank collapse. investor is expected more rate hikes on the horizon. now do you think that the fed will continue its course of interest and higher interest rates despite the bank collapses? i mean, inflation is still there, it's, it's half office antibody fighting license. i think they'll be increased, but maybe to review stress banking systems or might be willing to get on more slowly towards the things go wrong. what some market that isn't said that interest rates might fall just would be single. that's in a deep crisis already. and i see this is signals affect what don't like the price. ok, so higher interest rates are a good sign. in this case, according to the bank,

a collapse has spooked investors worldwide, as we mentioned. and for many, it's conjuring up images of the 2008 collapse of lehman brothers, which really reverberated around the globe. it wasn't just contained to the us. now there are worries that this one will be the same. could you perhaps elaborate and how for it is similar, or how far does different well described. it shows that banks down the ball nor root the call, just want to pull to the on the b. so a tax on this liquidity, by doubting investors, will always lead to banking cries of the respective bay. but what's deaf the difficult aids we have this big u. u. s. housing market financing debacle. they're a lot of houses. we're find that have much less value than, than that was placed on them. and so we have asked a lot of from, from before you house own that to great degree. and due to the secretary of this

claim, this risk was prayer worldwide. we had a totally different black mouth if the be comparatively the big bang, but if not, predicate risk worthy will fly. it has some influence on the financing of small tech companies in some countries. but this can easily be replaced by other banks or if necessary by the state. so we are in a different situation at the moment, but must take care of this. this is price doesn't evolve in certain directions and can have the balding, the u. s. government and the fed are now guaranteeing businesses will receive their deposits from the collapse banks. do you expect that this move will prevent any further collapses and will really stop this panic that for detrimental right now? one thing is, do we trust in the bank? and there might be some doubts and states because there are some revelation. and similarly, the level which, where we have

a lower level of regulation at the rate $250000000000.00 total f bank with little bit less than $250000000000.00. we've already very big bang and have a time to be systemic. so i think there's some problems in the regulation nighted state through the state have to cope with to come back to the main reason, i think for this guarantee was a different one. it about silicon valley, silicon valley. it's very important to notice they, all the small tech companies are seen as a guarantee, a future growth and technology knowledge, class management. and if the public get into problems is might have long term negative impact the united states and on its position in world economic power. so i think that's why biden was willing to guarantee all the, all the, although she was not obliged to do hon. space i broke off. thank you very much, bye. now to some of the other global business stories making news. in the midst of

an economic crisis, argentina has reached a deal with the international monetary fund for the disbursement of another $5300000000.00. it's part of an economic assistance program by the i m f that has now sent almost $29000000000.00 to the ailing economy. nigeria central banks, as old nie run notes will remain valid until the end of the year. the move is aimed at relieving an acute cash shortage. the old bank notes were initially supposed to be taken out of circulation in january, but a shortage of new bank notes post and caused anger and unrest. boeing is expected to sell nearly 8077 dream liners to, to state our own saudi arabian airlines. the list price would be nearly $37000000000.00. but airlines typically get undisclosed discounts when buying planes. saudi arabia is keen to boost its aviation sector as it seeks to diversify its economy and wind itself off of oil. a wave of worker

shortages hit industries across the board. following the pandemic. one of them is the freight shipping industry or transport countries. a company, sorry. i've been flooded with orders after the reopening, they remained understaffed. now a belgian start up found a way for ships to set sail without their captains of freight shipping. the safe hands of captain, who's a 130 kilometers away. this. no one aboard this vessel, just cameras broadcasting to put on from the lyndon's office, an antwerp he steering remotely on a computer. it's almost the same as her as on the vessel or a small differences, but her system allows you to, to hear the engine ah, the small things that we can hear or listen to that makes that we are on the ship to remote work. the captain can steer 3 freight ships at the same time. belgian

start up see far has developed technology to address a shortage of captains. it's been a growing problem for the industry as ever more goods are set to be delivered on the waterways. thus benoit at o hm. that means that we will need captains and crew to man these ships and this kind of personnel. if you look at how things stand as really hard to find, it's become a massive problem for any shooting company to keep their fleet running. home for future in our line dish efforts over time. that's why this shipping manager installed c 4 technology and 3 of his freighters, his company, transport, soil, sand and rocks within belgium and tries to keep a small carbon footprint. a single truck, it causes her a pollution right? it's so gets an easy way of going from point a to point b, but by your proton exhausts are quite high. and so it comes to the fact that one truck can transport $1731.00 water truck. you can transport 17 trucks worth of soil

and the smaller ones, and our larger ones can double that. german companies want to make use of the technology as well. like this company that has placed an order to equip 5 vessels. they hope the tech will help make the job of a captain more attractive. the maintenance concern out, we want to be ready for the future on how to enable our employees and future employers to work in a modern environment versus move as good as includes not being tied to working aboard a ship, but to do their job on land. it gives us a chance to offer an entirely new work life balance. i've been on the job shopping that will be wiped. i'm from lyndon exchanged to wheelhouse foreign office. the reason is because i started the family. i had a child and i missed a child. and this kind of work allows me to still sill and also be at home. as of today, c for technology can't be used in germany. it hasn't been approved by authorities

yet. the company hopes that will happen soon. and freight ships aren't the only unexpected place or staying empty and that work. her shortages staffing crunches can be especially isolating. if you live in a castle like the one fans know from the t v series. downton abbey high clerk. castle used to be a famous event venue, but that was before breakfast. meet the countess of high care castle in southern england, lady fiona canarvy, anne and her husband. the earl simply can't find staff to hold large weddings anymore. she says they only have people to cater for parties of 20 or fewer. we cannot find them when we go to our usual agencies and try to find people they are not there. if we ask for 13 might turn up. we've gone to all the local colleges, there's nobody we haven't asked. lady canarvy blames, brags s e u students attending university in britain used to be

a vital workforce. now they're no longer available to work. weddings here aster brags as its life imitating ours as the fortunes of high castle mirror, the cutbacks at danton abbey, the show also dealt with a dwindling number of staff at the abbey over the years. and that's our show for more checkout d, w dot com slash business and the detail, the news youtube channel brawls on facebook for me and the business team here in berlin. thank you for watching. the german mineral resource agency is sounding the alarm? is the country supply of key minerals at risk. geologists are looking for new sources of these raw materials and are offering council to industry and government . the biggest concern,

the valuable metals are difficult to obtain and are becoming increasingly expensive . to morrow to day. next on d, w o o german dw was singing, cheer board with this award winning offer is available worldwide. and for every language level, learning german has never been simpler. german to go with energy saving nights, smart phones, computers, electric cars, wind turbines, we need metals for all of these things. but mining them is not just energy intensive. it homes, the environment is we cycling an alternative or could we so as role materials from .