for fancy master violence surrounding the 1st leg in germany, which napoli one to nil 9 people we understand were detained afterwards. wow. business use is up. next. i will see you tomorrow with, [000:00:00;00] ah, what people have to say matters to us

a little. that's why we listen to their stories. sh reporter. every weekend on d w. imagine how many pushing of lunch and out in the world climate change, very often story. this is my plan, the way from just one week. how much was can really get we still have time to go. i'm going all with what? 5th. ah, banking fear spread through europe. worries about credit suisse. trigger a sell off just days after a bank dealer in the us. first questions about solvency. we'll ask an expert,

is there a substance behind the panic? and south korea doubles down on nuclear power as it's drives for more energy autonomy. sol wants to increase lucrative energy exports. welcome to dw business. i'm an easy no worries about the stability of the banking system have spread from the us to europe. shares and credit suisse fell to a record low after its biggest shareholder. saudi national bank rolled out a new cash infusion. the lender has appealed to the swiss national bank for a public show of support. concerns have been growing about the banks liquidity on both sides of the atlantic, falling the collapse of silicon valley bank and the u. s. a week ago. now for more on, on this, i'm joined by octavia moran. see he seals, consultant, c, o, p mas, mr. moran. the credit suisse has asked switzerland's national bank for statement of support,

confirming it is financially healthy. do you expect that we'll have to provide more than just reassert and reassurance, financial support? maybe i do expect the going to have to actually put some money on the table. the simply making these pronouncements is not going to do be enough. i mean, credit suisse is on the severe attack, people are pulling out money of criticism. a furious rate and credit suisse is simply not going to be able to pay those depositors. so someone's going to the coast guard, but it looks like the swiss national bank is going to have to step of the freight and actually put some cash on the table. rather than simply having pronouncements about moral support for a credit suisse. what would the impact of such a bill out be on the european market? if a swiss bank out of all countries would have to be bailed out? well, i think for the, for the swiss financial market center is going to be an absolute catastrophe. i think it has been already, so people have put their money into switzerland in large amounts in the private

banking and wealth management spaces and asset management. in large part because switzerland has this idea of stability and conservative investment of your assets and capital preservation. and that's the kind of clients that are swiss banks of attracted, that's all. now put the question credits with credit quizzes in countable damage to sort some reputation as a financial center. and i think the 1st national bank and this was government, fully aware of that. and want to make sure that this doesn't go any further. now this is all happening, of course, in the context of 2 bank collapses that we've seen happening in the us this past week. and how far is this related to what happened to the s b b, for example? well, i didn't have any direct connection with the credits with an s v b. i didn't credit suisse had a big exposure to silicon valley bank at all. i don't think this was bank had large deposits with as we be. so it's not a direct connection. but i think what's happening overall is that we're seeing a, an environment we've had a very,

very low interest rates for very extended period of time. and that's true in the u . s. and it's true in europe as well in switzerland bit less the the s and b is bit a bit more careful in terms of management of the switch currency. but overall, we seem very, very low interest rates for a long time. and now suddenly we've seen interest rates rise very quickly, particularly in the u. s. and that is going to break some things that's going to break. some banks are very dependent on interest rates. it's a very core part of their production process. and as you see big changes that some banks are not going to be able to keep up and compound with that, i think a credit which has done some hold the bunch of damage to itself outside of anything as the b is done. so or anything related recipe. so there's been some monumental missteps, credit suisse in terms of risk management in terms of investments. and that's came back to haunt the bank. now the, you mentioned the interest rate aspect in the story here. now the easy is expected to increase interest rates again to morrow. and analysts expect half

a percentage point increase. do you think that today's events might factor into the easy be considerations for tomorrow? definitely, i don't think the easy be wants to give impression there. panicking and responding to the latest news and by the minute making decisions about where to put interest rates. so i think they were to convey sort of a sense of greatest stability that and thought about how they're going to approach interest rates. that being said, there's going to be tremendous pressure on them now on the e. c, b, and on the fed who are both making decisions as weak about and strengths to not continue with these big increases at interest rates. because there has to be some losses involved in that. basically anyone who's sitting on bonds a bond portfolio or a loan portfolio like banks or is going to have to take losses as a result of these increases. so the banking industry is screaming out for the central banks not to continue with these increases the central banks, on the other hand, have to still fight inflation. and the only way they can do that is by continue to increase interest rates. so the central banks, the e c, b and the fed included are in a very,

very difficult bind right now. difficult times for a central bank. thank you, dr. young randy. now let's get the latest from wall street on this, and these developments and teddy, astro joins me from new york teddy have there been recruit repercussions from the banking self in europe in the us. well, credit suisse is a global financial institution, so it's of greater consequence, right? than silicon valley bank than signature bank, which we did see fail this week and cause broader turmoil in the market here in the united states. now, the pronouncement pronouncement by the swiss national bank to support credit suisse is going to paris some losses. however, we have seen some damage here in the united states. the s and p has dropped a point 7 percent. now really the banks are the ones that have not hit the hardest goldman city group. sliding regional bank certainly sliding. but what we're looking

at is investors panicking, looking around at the financial sector at s p b at signature bank at credit suisse and saying this is incredibly unstable or pulling out their money and trying to find investments that will pair their losses . now we were just speaking about the difficult situation that central banks find themselves and right now that you tv, especially because of the interest rate. hi, tamara, how might the fed react to this volatile economy? well, the fed has 2 objectives, right? it's to ensure financial stability in the economy and to tame inflation. now the ladder of which it has been doing from unprecedented rate hikes here in the united states and it does appear to be bringing down inflation. however, it is causing some financial instability. we can certainly say it contributed to the failure of silicon valley bank and subsequently signature bank. there are also

some issues there about the fed supervisory issues, but with inflation, right? we have seen inflation cooling here in the united states. the fed isn't fully happy with the pace, which is why their expectations that they will continue to high rate. however, now with the financial instability we're seeing there are bets that the fed is going to do a low hike or a no hike after they're meeting. next week, so all eyes on central banks. thank you very much. teddy austro now to some of the other global business stories making news. german authorities say they've taken down the world's largest crypto currency laundering side and saving the online platform, chip mixer official secured around 44000000 euros worth of digital currency. mixers . operators are suspected of laundering money for drug dealers and russian to russian military hackers. among others, about half a 1000000 workers in the u. k. are striking, causing major disruptions, teachers, doctors,

and london underground staff among others walked out. most of them demanding higher pay. the country has been hit with a wave of strikes in the past months. as workers react to double digit inflation. now, this comes as the u. k faces its largest fall in purchasing power in 70 years. that's according to a government commission study. it says, household income will continue to drop, and living standards won't return to pre pandemic levels before 2027. electronics join samson, cons to invest more than $230000000000.00 in building 5 new chip factories and south korea over the next 2 decades. comes as a part of the south korean government's efforts to develop a mega semiconductor semiconductor hub in the country. and we stay in south korea for our next report where the government wants to gain more energy autonomy. that's because, depending on other countries,

for energy can be costly both financially and politically. russia's invasion of ukraine was a stark reminder of that. now soul wants to boost its production of nuclear energy . by the end of the decade, nuclear is supposed to make up a 3rd of its supply. south korea imports more than 90 percent of its energy resources, boil coal natural gas in uranium for nuclear power. and unlike many countries, it's not connected to another electrical grid. and so must rely on its own power infrastructure at all times. 100 miles. oh, there is a north korea and 3 sides. there is ocean for county. south korea is it kind of energy island is home. that was so we have to create our own energy and be self sufficient. that's how we had and how yeah. so 3 already has $25.00 reactors in operation which can take up to 10 years to build sol plans to resume construction

on to reactors this year. and ramp up nuclear power to more than 30 percent of total energy production by 2030 significant portion of south korea's g e. b depends on trade one. in the near future, electricity will become the key power source, kind of what we call the 4th industrial revolution. that means cheaper electricity will help us sharpen our competitive edge. when a new one you didn't go with the new south korea is a top 10 global energy consumer with energy intensive industries, especially electronics, ship building, and petrochemical, driving the country's economy. reducing energy costs is paramount. russia's invasion of ukraine is at least partially influence increases in the cost of those energy inputs. so 3 is public utilities reacted raising prices with the cost of home electricity spiking almost 30 percent in the past year. but so 3 is not only

relying on nuclear energy in its own country. it also exports reactors, for example, to the united arab emirates in february. the 3rd apr or $1400.00 reactor will begin operation there with another to follow. so 3 also hopes to compete in the new market featuring smaller modular reactors with hopes to capitalize on its 20000000000 dollar u e. project target. the pie. so nuclear power is shown function all for the construction period. south korean the succeeded in thumbs up on time on budget delivery of the plant. so in that regard, i think oscar has a good advantage. thank you for watching lulu cattle at this live stock market are being exchanged for young women. half of all

girls in south sudan are forcibly married. many are abused and raped. the pope's visit has raised high hopes, but can his words really help the country's female population, global 3000. next on d. w. artificial intelligence can be an engine for economic growth. in the indian state of corolla, a, i is creating new jobs, especially for women therapy, opportunities for advancement and equal rights are offering new prospects for well educated women. even those living outside major cities played in germany. in 60 minutes, d, w. ah, did you become

a criminal pre climb aol already knows that kind of to take told me about hackers and paralyzing the tire societies. computers that out were you and governments that go crazy for your data. we explain how these technologies work, how they can make it in for, and that's how they can also go terribly. watch it now on youtube. ah, ah ah, ah, ah,