widen is handed out medals ivana to some of the biggest names in american culture. among the $22.00 recipients were roxan bruce springsteen and legendary sol singing gladys night at least also included comedian julia louis dreyfus and designer 0 wang. the national medal of arts is the highest official accolade in the u. s. for advancing arts and culture. it was biden's 1st towards sarah mean since taking office because of pandemic restrictions. and you're up to date, daniel winter is up next with your business up days after a short break with a nice it's evelyn sharma. welcome to my podcast. love matter. i. i lied celebrities influences and experts to talk about all playing loved effect from day to day. and again, today, nothing less the south,

all these things and more in the new season of the pot. come, make sure to tune and wherever you get your pot path and join the conversation. because you know it love matter in these places in europe are smashing the records stepped into a bold adventure. it's the treasure map for modern globetrotters. discover some of you up to record breaking sites on google maps, youtube, and know also in book form ah, all banks bouncing back banking stocks rise as investors in the league at 1st public up here. assured treasury sector john yellen saying that the government is ready to provide more support to struggling small lenders. get the view from wall

street. also coming up, fishermen from the you are left in a pinch. norway says no to crab catching around its waters around small bars. and we'll visit garner where young artists and a small label are giving new appeal to discarded clothes. it's that time again, d w business, welcome. the u. s. banking sector is stabilizing after recent worries over the state of u. s. banks and some high profile collapses rattled the industry. the beat assessment comes from the us treasury secretary, janet jaelyn speaking at bankers association, meeting on tuesday, saying that the steps taken to protect deposits had shown us banking system, was safe and had strength and public confidence. she also said, authorities were ready to take similar actions to protect small institutions if they suffered, runs on deposits. and james sweeney is in new york with more on this. james allen's

comments appear to be helping to lift a banking stocks in tuesday, trading with 1st public leading the pack that's. that's correct. janet yellen is pretty much come into the rescue today. her comments are low, lead the way for more than 50 percent in today's search today for 1st republic, a much needed bounce back for that company. and for those wondering what you said, well, you're pretty much pledged to support the u. s. banks in a bit. the ease, the financial or the fears of financial contagion. you'll him told members of the a be a, that's the american bankers association, that the federal government is ready to step in to help out other trouble lenders after the collapse of silicon valley bank and signature bank. saying that the steps we took, we're not focused on eating specific banks and that our intervention was necessary to protect the broader us banking system. and more importantly, she said that similar actions could be warranted if smaller institutions suffer. deposit runs that post the risk of contagion. so if you're wondering what does this mean? treasury secretary, you're pretty much taking

a val today to come to the rescue of troubled regional banks and regional lenders and the response positive as expected, the del. busy just closing up nearly one percent 1st republic soaring just under 30 percent, that a key core us bank or jumping more than 8 percent packed was of nearly 18 percent of a big change from yesterday. well, let's fix this for right now, but they're also early suggestions on their new possible permanent safeguards for the banking system. what do you see? what suggestions are on the table? are there suggestions? yes, there are. are there guarantees? no, there are none right now what i'm seeing, what's what i'm seeing and what i'm hearing is that jenny dylan is indicating that investigations of this crisis, the bank failures in particular, they're coming and then apparently includes discussing the effectiveness of the current rules. she wants a full account of what happened the review was coming in, in our own words. she said that we will need to reexamine our current regulatory and supervisory regimes and consider whether they are appropriate for the risk that banks face today. and what does this mean?

it means that just like back in 2008, don't be surprised to see some post crisis reforms after these investigations are complete. changes were made to adjust to the risk of the that they faced back then and the same will likely happen. now. could this mean a permanent expansion of the f d i c deposit protection above 250000. possibly it was just lifted. read to protect customers of the field, silicon valley bank. but again, it's justice as a suggestion, not a guarantee. in their own words there's, there's a lot of talk going on here, but we should find out more the facts on the coming weeks or maybe months. all right, well let's look ahead to wednesday because it looks like the fad is got his biggest old brother most difficult decision that has had to make it a while. does it keep right? steady and risk inflation or high crates and risk hurting banks? i have to be straight forward here. it's not going to be easy being fed sure. powell tomorrow at 2 pm eastern, which is when the fed will make its decision with him as a case to be made for and against the $25.00 basis points. hiker. simple,

the fed live rates that shows competence hurry, the fed can then say it's managed to contain competence so far and that it compress a head with its great fight against inflation. at the same time, lifting rates could possibly increase concerns about the status of the stability of the banks themselves. why high grades when this may put more pressure on these regionals, is the federally that convinced that recent efforts to support these smaller banks or more than enough? i mean, the fed could also put hikes on poles this go around to, you know, do no harm. but some can also view no action as a reason to be concerned about the bank's comments. like look, they did nothing. you know what that means. they're doing nothing. obviously there's an issue here. simply put, we'll find out to morrow, but whatever is announced, it's pretty much unknown how the markets will react. and fred sher, jerome powell, he's going to be front and center to morrow guarantee him. all eyes will be on the fat to morrow. but james sweeney. it's been a pleasure. thank you very much. thank you. now to some of the other global business stories making news,

staying with banks. switzerland has ordered credit suisse to suspend paying bonuses, awarded before last year. unions had demanded a stop to the payments after the trouble bank was taken over by rival u. b. s. and a deal involving billions of dollars of public money. but the government says some bonuses will still be allowed. the european court of justice has expanded the rights to compensation for owners of diesel car's equipped with illegal emissions, cheating devices. so far they could own only sou if carmakers intentionally deceive them. now in a case against mercedes benz, the court says, negligence is all that's required and opens the door to wait fresh wave of diesel gate compensation claims. german comic halts. wagner received $1300000000.00 from the state of south carolina, where it plans to build a manufacturing facility for electric vehicles. the subsidies are part of the us inflation reduction act, which supports green investment. the u has been critical of the washington

initiative, which it says disadvantages, europe as an investment destination. now to a new norwegian court decision that's making waves abroad, the country's top court has rejected the case brought by a latvian fishing company. it ruled that only norwegian fishermen are allowed to catch slow crabs off a group of islands in the arctic sea. but it doesn't just stop at crustaceans. the ruling has changed the game for natural resource extraction and the region. in the depths of these arctic waters of snow, crab scramble across the sea bed. they are considered a delicacy in asia and can fetch fishermen a good price. but norway supreme court has ruled that unless you're a norwegian vessel, you're not allowed to catch them off the country's fall bard archipelago. the decision has implications way beyond the shellfish at the center of the case.

it's a principal decision. it means that so all sort of resources that this, this interpretation will, will affect the fisheries will affect oil and gas and all, all the resources. so not just the snow crap is the principal decision amounting to also so. ready resources actually that, that exist or are or are, are in the, in the water situation to, to small. but judges agreed that norway can ban foreign vessels from fishing. a central treaty of firms where we can sovereignty over the archipelago, but grants other nations, the right to extract natural resources. crabs and also oil gas and minerals. only russia now does. it operates a coal mining community there, but the tree doesn't define boundaries. russia has long taken it to mean the whole continental shelf. thanks to the snow crap case. norway has taken a much more restrictive view. an estimated 20000000 items of

clothing from western countries arrive and gone every week. almost half is discarded, filling up landfills and littering beaches. some fashion designers and artists are tackling the issue, turning to up cycling, not simply recycling, but adding new value to the items. that means more jobs and less environmental damage. these fashions from the dna and capital, a young oven on the above all mega hit. you can look good and take responsibility. so that's the message from across young design is like elisha both full and video behind the nonprofit label of the revival euro papa. and chrome may not does the voice. and as we all know, what you're including on by credible most of them and, and that they have a negative impact on the environment when it's being displaced. so we are trying to

deconstruct the idea off what waste really means when he comes to textile when he comes to fashion at the studio in a crop, the 2 men mix different materials and pre left governments 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 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 is not all that good. hey, so you open it's and not only did you go rocks that's given rise to flourishing up cycling business in come to monta where many textile mitch and still try to find,

take his were there no fantasy ways? some local initiatives, add a dash of color to faded fabrics to attempt to potential buyers. hello job. the mountains of 2nd hand textiles keep growing and gonna what starts as fast. fashion soon winds up here, often strewn on the beaches and embassy to date in gonna it's been mainly activists or artists like miko. gov. you've given much thought to how to use the clothing waste that's already in the country. i thought is obese are owned or people are no buying. so i took a job myself to also buy them to craig, my beaches natalie for, for the beauty almost all screeching all when as for day and barrow maint because he thought salvo m martinez that you finding a b in

a beachy sauce waste and mitchell, god got as to sheep clothes can even be transformed into art. it's one of the creative ways of dealing with the waste, from fast fashion imports. remind of our top business story, us treasury secretary, janet yellen says the banking system is stabilizing in the wake of the collapse of 2 banks, saying authorities were ready to take further action if needed and job to date with the d w business. thank you very much. for watching eco africa, walla, we can focusing on energy nutrition and education. denisia aims to make if schools more sustainable and better equipped the market. our boarding school is leading the

way run like a small business. it is self sufficient and economically successful on d. w. but syria rushes test love. the war of aggression on ukraine is the only war being waged by vladimir for the past 12 years, he has also been supporting bashar assad in the civil war against his people. this report gets to the bottom of russia's military operation in syria, in 45 minutes on d, w. o. ah, to journalism help us in overcoming divisions. save the date for the d.

w global media forum 2023 in bonn, germany and increasingly fragmented world with a growing number of voices, digitally amplified. we see where this clutter can lead what we really need, overcoming divisions into vision for tomorrow's journalism. save the date and join us for this discussion. at the 16th edition of d, w. c. global media forum. ah, a climate change is transforming a wallet, causing us to question all will certainly tease and.