i was in russian controlled, asked face living towards the russian border, but that he went down on its b w, a business update is that here in just a moment, i'll be back at the top. i'll be out with more world news, and of course it's available around the clock on d, w dot com on the t w. have a good day. sometimes. so right now tv highlights with free week. not come up. will you become a criminal? mm franklin mayo already know that

with hackers, paralyzing between your societies. computers that are some of you and governments that go crazy for your data. we explain how these technologies work, how they can go in for, and that's how they can also go terribly. watch it now on youtube. ah, banking stocks begin to bounce back a day after the biggest us bank collapsed since the 2008 to financial crash. but is the crisis really old, but we lost connects, but also coming up more job cuts that meta is facebook's parent company kicks off

so called year of efficiency. but as the company on the right path will ask al correspondent and no novel. and how a belgian start up is bringing remote work to the shipping industry. if that time again, d w, business, welcome. it could be time to breathe a sigh of relief as worries over us banks appear to subside recent days, shook us businesses after several tech and crypto focus banks collapsed, threatening to take big companies down with them. but efforts to contain the crisis appear to be working stops in the us and europe rising on tuesday, including many u. s. banks, which had appeared to be under pressure. it wasn't all good news, though, with ratings agency. moody's cutting its outlook on the u. s. banking sector from neutral to negative. 13 sasha stephan of the frankfurt school of finance can tell us more from new york, sasha. thank you very much for joining us and stocks starting to turn around but

the outlook is down. can we breathe a sigh of relief, or is it too early? i mean, the, i think the immediate fallout from the collapse off as will be blank or what, but he gave that so to speak. but of course, the, the underlying structural core groups remain specifically in the banking sector. i . but i think as the, the immediate problem that we've seen, particularly over the weekend on friday, i think that that has been stopped for now. okay, why i'd like to dig into is, you know, the recent bank claps as were significant silva gate signature, silicon valley banks where they all rare one off events due to poor management. or is that something broader and systemic to be worried about. on the one hand, these things was very specific in the sense that for example, as the banker was a bank that has extremely highly concentrated and therefore very less diverse high

deposited base and a huge amount of a government long term government securities. but there's a broader problem in the banking sector in general, and that was coming from the also very lex monetary policy, specifically of the corporate. and that was basically a portfolio of, of, of deposit, so to speak, that has been collected under has increased a lot of the last couple of last couple of years. and this, and this is very short term. and then on the other hand, you have a relatively long term assets on the side, and that becomes a problem and a deposit of the amount of money back. ok. but i'm looking at the kind of bond investments that are the likes of actually been making that has been commentary saying that right, the raising rates too rapidly was a big problem. so looking at the u. s. central banks role, is this the feds fault?

i mean, of course, i mean we had to relax monetary policy for a very long time and then a very rapid increase and interest rate. but also that's what was coming with with some kind of warning though, i'm kind of forward guidance from the fed saying look, we have have been, have been, have been low for long, but know, given in place, we're going to need to adjust. and we're going to adjust quite a bit. and so on the other hand, the banks basically decide to tell them south, maybe even a while ago given depress margin, to take more interest rate risks. so with the, basically the, the knowledge that is going to increase, they should have taken action and terms of mitigating the interest rate exposure. so of course that wasn't part of the bank effectively. ok, and looking elsewhere, we saw european banking stocks taken knock. i'm thinking most prominently of commerce bank, for example, the big german bank. is there a reason to worry about other banks beginning to struggle in this kind of environment,

or is all of the panic basically over this point. currently specifically in the pentagon county was currently subsided because they had to reserve and government and basically given a blank check covering all depositors making it less likely that the depositors are going to run at the moment. i think the stock market decline of the european banks, german banks for was a little bit of exaggerated because the, the problems around much deeper in the us banking system. i think specifically for taking as the b as an example, given the size, it didn't have to adhere to the same liquidity rules. for example, as does the german dodge a bumper mass bank, which has a much, much larger quality position. my so from, from, from that perspective the banks are very different. this is why i'm not thinking that the problems in the us will become an immediate issue in the european banking

sector. ok, so at the moment, reasons perhaps to be optimistic looking ahead. stephan. thank you very much for that. thank you. let's turn to a massive new round of layoffs. meta the company behind facebook, and instagram will cut 10000 jobs as part of what the phone calls it year of efficiency in an email to measure employee c, e o. mark socket bucks at the new round of job cuts would affect middle management positions, and thousands of other roles would not be refilled as the u. s. tech sector, braces for an economic downturn. this comes off to metal already slashed $11000.00 jobs in november. let's go to court on this year and why a 2nd wave of job cuts daniel markup are going to so may more actually appointed to a new economic reality, pointing to geopolitical tensions also to the higher interest rates. and you could to translate that into there is no free lunch anymore. there isn't money just for

the graps on the streets of money with higher interest rates, cost something. and that is definitely a being certain burden for the technology industry. probably overall that in general, when it comes to facebook, i mean, the whole market has cooled off quite a bit, and all of that mean a lot of pressure for facebook. and so the mother company, madam. okay, but sometimes we can impute something from these kinds of decisions. does this tell us anything about matters, new strategic outlook, going ahead into this year of efficiency at any markup, i wasn't too specific about that with this latest announcement of a job cuts. but what we do know is that meta is investing heavily into the so called better worth, i mean, that's also why the company have renamed itself from facebook to

a meta. but this transition costs a lot of money reality laps. that's the division that is responsible for developing the met averse and that part of the business last, almost 14000000000 dollars last year. interestingly enough, by the way, there was one area that is obviously all up for those job cuts the meaning lower costs. what street actually are we acted in a very positive way? the stock of metal was up here on tuesday by 7 percent. and since mete announced the 1st round of job cuts early november's since then, the stock of meta has more than doubled. okay, we'll just when we thought the job cuts will over another weight comes in quarter. thank you very much. now to some of the other global business stories making the news g p t for keeps getting more intelligent. the new version of the chat bought can outperform. 90 percent of humans on standardized tests and scores, even higher on a bar exam,

that's according to the company behind it. open ai which say it exhibits schuman level performance in their announcement to day, the new model will be available to paid subscribers. inflation in argentina has talked 100 percent year on year for the 1st time since it experienced hyperinflation more than 3 decades ago. the official rate of a 102 percent came as bonus iris reached a deal with the i m. f for the disbursement of another $5300000000.00 as part of an assistance package. a wave of work shortages has hit industries across the board since the pandemic. one of them is the freight shipping industry. while transport companies have been flooded with orders, they remain understaffed. now, a belgian start up found a way for ships to set sail without their captains on board. a freight ship in the safe hands of a captain who's a 100 or 30 kilometers away. there's no one aboard this vessel just cameras

broadcasting global. i'm from the lyndon's office and 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 there or listened to that 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, is of all 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. fever 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 as small carbon footprint. a single truck, it causes her a pollution right. it so it's an easy way of going from point a to point b, but where you're to, 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 to enable our employees and future employers to work in a modern environment. vast me 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 will be wiped down from the linden exchanged, 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. and that's all from us. thank you very much for watching. in good shape is about love and enjoyment, but some times it's complicated. why is it so difficult to be satisfied? healthy? i'm fit sleep, delusions, detox promises and dubious trends enough with

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