to the shipping industry, and it's hard to find stuff in a fortress after breakfast, castle 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's also place the ratings of 6 other u. s. banks under review for a downgrade. now helping fuel those fears over midsized lenders. it's

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 climb 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, our customers in s v b is case the struggling tech industry withdraw money. so the bank had to sell assets. booking those losses because they had to meet withdrawal requests that turned into a spiral of fear and 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. booker, at the heart of the story, as we just saw,

our rising interest rates are, 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? no look really. we can't expect that one must say is that the fast increase in interest rate, c, e, c, b was forced to undertake you to inflation at leads to certain vulnerability. and this is very evident in europe is he should have started one year, always increasing interest rate. now he has to do it very steeply. this means a long term bonds lose a lot of value. and if you have to realize this value and the 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 where you survives that on this bank was particularly badly place to cope with such a problem, as it didn't even made

a proper risk management also in just for the total. 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 a tough office. antibody fighting license, i think being me to review stress bank and systems and might be willing to get on more slowly towards the things go wrong. what some market that isn't said that interest rates. my keys hall just would be sealed in a deep christ already, and i see this is signals effect will don't like 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 u. s. 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, this crime shows that bank down the vulnerable 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, that's the difference is, we have this big u. u. s. housing market financing debacle. they're a lot of houses, refiners that have much less value than, than that was placed on them. and so we have asked a lot of from, from before you how to great agree and due to the database of this claim,

this risk was prep worldwide. we had a totally different blast. now if we be comparatively the big bank, but if not, credit is risk. louis 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. thank you. have involving the u. s. government and the fed are now guaranteeing businesses will receive their deposit from the collapse banks. do you expect that this move will prevent any further collapses and will really stop the panic that so detrimental right now? one thing is, do we trust in the bank? and there might be some doubts in states because there has been some revelation and similar level which, where we have a lower level of regulation at the rate $250000000000.00 total s a 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 that they, all the small tech companies are seen as the guarantee for future growth and technology knowledge management. and if the company's get into trouble, this might have long term negative impact of growth 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 hand this book 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 bank says old ny 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 cost 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 evasion sector, as it seeks to diversify its economy and wind itself off of oil. a wave

of work or a shorter just hit industries across the board. following the pandemic, one of them is the freight shipping industry, well 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 a 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 a, as on the vessel or a small differences, but the system allows you to, to hear the engine ah, the small things that we can hear or listen to them makes that we are on the ship to remote work. the captain can steer 3 freight ships at the same time. belgians

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 his small carbon footprint. a single truck it causes for pollution, right? it's so gets an easy way of going from point a to point b, but by your per ton 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

add 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 sucrose sent out we want to be ready for the future on how to enable our employees and future employees to work in a modern environment versus not 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 instead of doctor shopping, that would be wiped down from the linden exchange, the wheel house for an 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 of staying empty and that work. her shorter dance 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 clare 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 that 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 and 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. after brags as its life imitating ours as the fortunes of high care castle mirror, the cutbacks sit down to knobby the show also dealt with a dwindling number of staff at the abbey over the years. and that's our show for more check out d, w dot com slash business, and they did all the news youtube channel brought on facebook for me and the business team here in berlin. thank you for watching with

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be our guest at frankfurt airport city, managed by frappe waterloo with ah ah . the state of are you near is leih from berlin? ukraine says its future depends on winning the battle for buck. most intense fighting has raged in the eastern city for a month with each side, suffering heavy losses. it opinion is divided over the strategic importance of the area. also coming.