t 30 and it's not only about the money element, it's not only about the cost. actually if you look at the health and the well being benefits about the pollution reduction of stopping to use fossil fuels. there are huge and they're actually over much over than the what the mitigation will cost nina. so yeah, that's it. you're up to date on the full world news at the top of the hour. steven bits may haas, you of business update in just a moment. have a good a chance to booted you, do the food. i played tennis testing. she survived auschwitz, thanks to music, and 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, rearing to read. ah, everyone who loves books has to go insane. ah, the dw literature list, a 100 german must reads ah, i've seen beardsley in berlin. here's a look at our top stories. banksley to european market rebell just 2 days after the for sale of credit suisse gets my analysis. i am at green lights of funding the o for sri lanka. economic crisis has racked households for almost

a year or so on. our show visit gonna were young artists and a small label or giving new appeal to discarded clothing. global consortia, banks and regulators in europe breathed a sigh of relief after markets improved. falling plans for a $3200000000.00 takeover of swiss banking, giant credit suisse by rival you beat us. european indexes, continuing their gaines early tuesday, led by recovering bank stocks. the questions remain, however, with some investors bothered by the details of the credits. we steal, which was the bond and shareholders take big losses. the crisis began just 2 weeks ago in the u. s. sud collapse of silicon valley bank and signature bank go to christy plots, and frank for christy. investors seems to have rediscovered their confidence in banks. can we say that the worst is over while there's been a lot of shuffling around going on the last few days, even as you just said,

i mean u b. s. has taken over credits, we signature bank in the u. s. has also been taken over. i mean analysts in the space also decision makers have been saying to bank customers to investors that these were just instances of singular, weak links trying to convince them that this is not a greater systemic problem. and i mean, yes, what you do see i, if you take a look at the docs, the index behind me, of course, a, germany's blue chip stock index is a lot of optimism since the morning bell rang this morning that's building on a day of growth that we saw yesterday, and so i mean what we are seeing here, or what i should say is the fact that we're even talking about this problem with a swiss bank with these american banks talking about it here from the german stock exchange shows the global nature of this story, i mean, credit suisse is considered to be significant to the global financial system. so with this optimism that we're seeing in the markets today, it shows that the fire does seem to be contained, at least for now. we know at the same time that things can change very fast. what is most concerning when we look at this crisis, right,

i mean there are so plenty of concerns. the real question is whether investors and bank customers are convinced that this is not a greater systemic problem. we're seeing a lot of questions raised about how this was allowed to happen, how the situation could develop to this point. people are taking a greater look a closer look at other banks with renewed scrutiny. i mean, already we're seeing another california bank hang on for dear life after its credit rating was slashed over the weekend. another risk we're seeing is of course, interest rates. i mean, in the us, in the years on and other countries as well, interest rates are continuing to go up. and this has been bad news for these banks . a lot of these banks hold a lot of government bonds when the cost of borrowing goes up. those bonds go down in value that essentially means these banks are poor, they're weaker. so there's a few different elements here that are really weighing on bags and that could, could still have a negative effect. central banks walking that high plus the tight line. all eyes

are on the fed, which is meeting right now. it will announce a new decision tomorrow about interest rate. what can we expect briefly if you could? sure. i mean, it would be 12 months of their fed raising rates tomorrow. they were expected to do a big hike of half a percentage point, but with the chaos we've been seeming to the last week or so, it's likely to be a weaker hike of a quarter of a percentage point a height nonetheless. so certainly still concerning for the banking system. right? christy plaza and frankfort. thank you. over now to some of the other global business stories making headlines, banking giants deutscher, bank, and jp morgan chase must face lawsuits over allegations tied to the late finance your jeffrey apps. fc that's according to the u. s. judge, the 2 banks are accusing a series of lawsuits of enabling obscene sex trafficking one suit as well by the u . s. virgin islands. the judge ruled at banks was also faced proposed class action

suits by epstein's victims german car maker volkswagen will receive $1300000000.00 from the state of south carolina where plans to build a manufacturing facility for electric vehicles. subsidies are part of the u. s. inflation reduction act, which supports green investment. the u has been critical of the washington initiative, which it says disadvantages, europe, as the destination for investment. tree locker sets received the 1st batch of international monetary fund financing within the next 2 days. yeah, m f approving a nearly $3000000000.00 bill on the island nation and saying today that disbursements would be tied to reviews that are set to take place every 6 months. i my colleague, cassandra site is here in studio to help us understand the still more cassandra, we've been reporting a lot over sri lanka over the past year and the crisis there. let's start with this deal. what are the conditions of this deal? right, this is a deal many months in the making and from what i've been reading,

they're essentially 3 big pillars holding up the steel. the 1st one is debt restructuring. the i m. f really wants you longer to get its debt under control, back down to sustainable levels. and there is expected next month in april to be a debt restructuring strategy unveiled by the government. they've been starting to step up, are some talks with commercial lender, so we'll see the fruits of that labor next month. the 2nd pillar of the steel is inflation management. and now inflation is been hovering around 50 percent for a while. inflation is a word, a lot of us are used to hearing by now, but it means year on year if you bought something a year ago for 100 rupees, now costs a 150 is massive. and so why not seen an economic growth rate reported? so far, there is a targeted inflation band that sri lanka is trying to hit by the end of the year. and that's between 12 and 18 percent. so functionally sherlock as to more than half its current inflation rate by the end of 2023. and then the 3rd thing quickly is anti corruption measures which the government did agree to start to get into place

in the next coming months. so the i mess is going expected to be really tough on all of these criteria with reviews, expected every 6 months. and disbursements are dependent on these reviews the i m. f wants to see progress on all these fronts. so a lot of requirements here for sri lanka. what does this mean for the country's economy? well, the economy, the outlook in the near future is, is not quite so bright right now. they're expecting a 3 percent contraction in 2023. it's a little bit better than last year, which saw 7.8 percent contraction, which was a record. by the way, the light at the end of the tunnel is analysts so far are expecting some growth in 2024. but the big problem for the real economy with folks on the streets are going to be dealing with is still this inflation your, on your consumer. inflation has ease from 59 percent december to 53 percent in january. but these prices, this probably still seem to be going up for a lot of people. we know that these i'm of plans are rarely popular on the streets of these countries. at the same time, we've also report on the food shortages,

electricity outages of fuel of runs. how is this likely to be greeted and sri lanka? well, it's from what i've been reading. it's not been met with great enthusiasm, so far as if these feelings include weariness. these deals. this big deal has been talked about for months now to this idea that this is a bitter pill to swallow, that things are going to get worse before they get better. and frankly, i don't think this help is going to be felt immediately by the average person very soon at the high, at the moment. we've still seeing high food prices fuel prices, a high income taxes of up to $36.00. st. power's been going up, power prices had been going up by about 66 percent. and analysts, i've been reading of these kinds of, i, m f deals basically say that one of the things that really makes them effective is austerity. and that's not going to be welcome news for a lot of average reluctance or i this cassandra sons here in studio. thank you very much. so one estimated 20000000 items of

clothing from western countries arrive and gone at every week. almost half ends up being discarded, filling up landfills and littering beaches. some fashion designers and artists are now tackling the issue during to up cyclic, meaning that they add new value to those items. that means more jobs and hopefully less environmental damage. these fashions from the canadian capital, a young, urban and above all mega hit, you can look good and take responsibility exam. so that's the message from a cross. young design is like in the shop awful and video behind the non profit label of the revival euro papa and qua, may not darzy voice. and as we all know, matures years, including on, on by to credible most of them. and then they have a very negative impact on the environment when it's being des pulled. so we are trying to deconstruct the idea off what waste to really means when it comes to

textile, when it comes to flashing at this studio in a crop. the 2 men mix different materials and pre loved garments to create something, need used clothes that arrived and gone up by the ton from the u. s. europe and asia are a source of inspiration. and this is where the men from the revival source, their materials come from until the biggest market for 2nd hand clothing in ghana and across west africa is more than $15000000.00 items change hands each week though due to their poor quality. roughly half of them end up in the trash. i know it's not all that good. hey, so you open it's and not only did you get rocks that's given rise to flourishing up cycling, business income tomato, where many text i'll mention, still try to find, take his within those policy with some local initiatives, add

a dash of color to faded fabrics to attempt to potential bias government. the mountains of 2nd hand textiles keep growing in ghana. what starts as fast fashion soon winds up here, often strewn on the beaches and in the sea. to dates in gonna its been mainly activists or artists like miko. gov is given much thought to how to use the clothing waste that's already in the country. i thought is a beauty surround dot and people are buying. so i took it upon myself to also buy them to create my pieces natalie for, for their beauty. i'm a so m greeting awareness for day and borrow meant because these are some of them m martinez that you finding to be in their beaches,

us waste and mitchell got us to cheap clothes can even be transformed into art. it's one of the creative ways of dealing with the waste, from fast fashion impulse. and finally, is a german icon running out of time? well, the country blue some $385000.00 clocks last year according to new figures. that itself is a 16 percent drop between 20112022 look at this is the production of handmade cuckoo clocks fell the most humbling by more than half in the past decade. last year, less than $25000.00 of the time pieces were made. the cuckoo clocks, especially of germany's black force region, and it's become a popular souvenir. the terse with blue or it is reminder of our top story. banks and regulators in europe

breathed a sigh of relief after markets approved on the news of the 3 point. $2000000000.00 takeover of swiss banking. giant credit suisse arrival u b u b. s. excuse me. european indexes, continuing their gains early tuesday by recovering bank stocks. bless our show, you can always find out more online e w dot com slash business, which also check out our youtube channel. d w. news fall with ah, listen. hearing loss is often the result of injuries to the eardrum, addressed in team of scientists is researching artificial replacement,

a chance for people. so i'm wondering from the condition to morrow to day. oh d, w at these places in europe or smashing all the records slip into a bold adventure. it's the treasure map for modern globetrotters. discover some of european record breaking sites on google maps to and now also in book form the human body is truly amazing. with all that, it's able to do what can the way we move reveal information about our overall health class could bacteria fe to is provide the answer to antibiotic resistance and can we repair broken bones even more effectively.