human rights cso had said it was open to creating a compensation fund for maltreated catallo workers. that hasn't happened, but the upcoming fever club world cup was awarded to saudi arabia. that is feminine strict white glove, reddish cut out for me, it's about fif is credibility. it has to stand by the statements. it's president makes the most i have to admit, i don't feel that's the case. so i find it hard to offer my support type of infantile may not be flavor of the month in europe. but his huge popularity among the majority of 5211 members means his re election as president is likely to be a formality. ah, ah, imagine that you're eating a hamburger. and as you're biting into this juicy burger,

your dining companion says to you, actually that hamburger is not made from house. it's made from golden retrievers should meet. 2 2 2 2 2 2 2 in meeting cultures around the world, people learn to classify a small handful of animals as edible and all the rest they classify as disgusting. a docu series about our complex relationship with animals. the great debate this week on d. w ah, banking fear spread through europe, worried about credit suisse, trigger a sell off just days after a bank dealer in the us. raise questions about solvency. we'll ask an expert if there are a substance behind the panic. and south korea doubles down on nuclear power as it

strives for more energy autonomy. sol wants to increase, could have energy exports. welcome to dw business, i'm using 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 and fusion. 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 a on this, i'm joined by octavia moran z c of consultant, c. o. p mass. mr. moran, the credit suisse has asked switzerland's national bank for a statement of support confirming it is financially healthy. do you expect it will have to pay right more than just reassert reassurance?

financial support is simply not going to be able to pay those depositors. so someone is going to have the cosa gap and it looks like the swiss national bank is going to have to step of the fray and actually put some cash on the table. rather than simply having pronouncements about moral support for 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 system 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 to question, credit suisse credit suisse is an incalculable damage to switzerland's reputation as

a financial center. and i think was 1st national bank and this was government are 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 to bang collapses that we've seen happening in the us. this past week and how far is this related to what happened to the as me be, for example? well, i didn't have any direct connection to the credit suisse and as v b, i didn't credit suisse had a big exposure to silicon valley bank at all. i don't think the swiss bank had large deposits with as we be. so it's not a direct connection. but i think was happening overall is that we're seeing a, an environment where we had a very, very low interest rates for very extended period of time. and that's true in the u . s. and esther in europe as well in switzerland bit less the the s and b has been a bit more careful. thompson's management of this was currency, but over was in very, very low interest rates for a long time. and now suddenly we've seen interest rise very quickly, particularly in the u. s. and that is gonna break some things that's going to break

. some banks are very dependent on interest rates is 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 this a chris was, has done some hold the bunch of damage to itself outside of anything as v b is done. so or anything related as v vi. 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 you mentioned the interest rate aspect in the story here. now the easy is expected to increase interest rates again tomorrow, and analysts expect half a percentage point increased. do you think that today's events might factor into the easy these considerations for tomorrow? stephanie, i don't, i don't think the easy b 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 want to convey sort of

a sense of greatest ability 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 and 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 continuing increase interest rates. so the central banks, the e, c, b, and the fed included on 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 australia 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 pair some losses. however, we have seen some damage here in the united states. the s s p has dropped a point 7 percent. now really, the banks are the ones that have hot 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 b, 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 see be 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 insure a 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 would 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 officials secured around 44000000 euros worth of digital currency ship 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 or 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 pen demik levels before 2027. electronics join samsung ponds 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 a next report where the government wants to gain more energy autonomy because depending on other countries, for energy can be costly both financially and politically. russia, the 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. hunger boon 9. 07, north korea. and on 3 sides, there is ocean for counties and south korea as a 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 v b depends on trade one. in the near future, electricity will become the key power source of what we call the 4th industrial revolution. that means cheaper electricity will help us sharpen our competitive

edge when it's new, when you didn't go with the new south korea, the 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 reactive. 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 a $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 you're going to pop a strong function all for the construction period. south korean 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. ah, artificial intelligence can be an engine for economic growth in the indian state of corolla. a i is creating new jobs, especially for women fair pay, opportunities for advancement and equal rights are offering new prospects for well educated women. even those living outside major cities, made in germany. connect on t w. aah!

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