in a pre trial detention scene, check his silence essay the blow to dwindling media freedoms and russia. his reminder of our top new story, a manhattan grand jury, is fighting to indict former us president donald trump, following upright into hush money. i to a porn star head of the 2016 presidential election trumps called the indictment political persecution and vowed to fight it in the business. news is up next. read stephen beardsley. after a short break junko with people and trucks injured when trying to free the city center more and more refugees are being turned away and the water families, planes on attacks in syria to the credit owners. we loaded demonstrate people's lean extreme around

getting 200 people with around the world. more than 300000000 people are seeking refuge. yes, the why? because no one should have to flee. make up your own mind. w. made for mines. ah. ah, i was the beardsley in berlin. here's a look at our top stories. american car maker ford announced another partnership with a chinese company as it raises to bill batteries. but will it supply chain pass muster with tightening us trade rules?

the white house joints calls for tighter bank regulations, amid recent turmoil us president joe biden wants regulators to focus on mid sized banks. years after they successfully pushed to be exempted from strict rules and switzerland shows off its finest watches. as sustainability becomes a selling point for more and more luxury buyers. welcome to our show. american car maker ford says it's joining a partnership for a $4500000000.00 nickel processing plant in indonesia. as it looks to ramp up battery production for electric vehicles. ford will join chinese firm jet young, y o cobalt and indonesian mining company p t volley in the venture. it's the company's 1st investment in indonesia and it comes as car companies are racing to secure critical minerals for batteries. that could be a risky bed as rules for a mass of american subsidies package, which will help electric vehicle. buyers remain unclear. those rules, banning companies from using too much raw materials from certain countries. gary

health bowers, a senior fellow at the peterson institute for international economics where he focuses on international trade. gary, welcome to the showed ford announcing its teaming up with a chinese company at a time when the u. s. is actively discouraging companies and carmakers in particular from including china in its battery supply chains. is this a bit of a gamble for the company? it is indeed, on this inflation reduction act that you referred to. i, it's a lawyers treasure. i mean, the rules will be very complicated as dodd if ford missteps, it got only risks money penalties from the u. s. government a but also, you know, the kind of hearings we've had for other companies doing business in china. so it's a gamble, as you say,

i assume they've all looked at it pretty closely. they think they're on the right side of the ledger. but let me add that the ledger keeps moving like keeps moving in terms of discouraging a u. s. firm from doing did just in china with china, et cetera, show sure it's a risk. companies expect things, or those rules to be clarified tomorrow, already in terms of what they need, where they can source from these companies face another pressure, and that is to keep costs low. how possible is it to keep battery costs low without the help of china, which sits on a lot of these minerals, and it's very active in battery building? well, you're right to raise the question. let me just say on the regulations, the treasury will issue. i used to write regulations and the tried very on tax issues and they are anything but clear. oftentimes they're kind of murky. so

clear crystal clarity will be elusive. but ah, yeah, you're right. china is the principal refining country for all these minerals, as well as the principal mining country. and the question will be whether some of the critical minerals, which are, let's say, used in japan or europe. ah, you don't have this chinese orientation or origin which is forbidden show it's taught. but right now you can't get a lot of these minerals anyplace else. i know that candidates talking about doing more mining and refining so in the us. so as europe. but these refineries, they're not built overnight. ah, they're very expensive. and just so it's a, it's a problem as you indicated. all right, that's gary. how far with the peterson institute for international economics?

talking about ford, it's critical mineral resources, and of course the inflation reduction act, which us that many of those subsidies off. thank you very much. thank you. now over to some of the other global business stories making headlines, germany's transport sector could face more disruption after unions rejected a fresh offer of a pay increase from employers. unions are looking for a 10 percent raise. they've been offered 8 percent on monday, a one day strike rob, much of rail and air traffic across germany to a halt. inflation in germany has rob, hello, 8 percent for the 1st time since last august. price is increasing by 7.4 percent annually. according to the latest figures that's considerable drop in the previous month. however, consumers can expect to see much relief with gas and food prices still high. in the near term. the white administration is pushing for tougher rules on mid sized banks in response to recent lender failures in the us. let's go to and quarter on wall

street for more ends. what do we know? what is the by the administration? pushing here for yes. even into what a difference in administration makes it not that long ago, under donald trump actually, when some of the stress that for and then some of the requirements for mid sized bangs were dropped back then by the way, also with some democratic support. so now a biden is looking for higher liquidity, extended through some of the bank threats, tests for mid sized banks. and what i also find particularly interesting, someone recently here on wall street says it's not your grand bank run any more of what we've seen. for example, with silicon valley bank. so now those stress tests are supposed to take into account high speed, digital withdrawals, and the ability of social media to spread information. so all of that, 1st of all, but also investigated what part of it plate in the recent turmoil and then also how

we can deal with, well not your grand parts, but your grand kids background in their month and years took up some more rigor being called for from these banks i would imagine they're not too excited about this proposal. well, clearly, i mean, hardly anybody is excited when there will be a tougher requirement and also when it comes to putting aside more capital. but i mean, this is pretty fresh idea that biden is coming up with, if it will get through. also remains to be seen. the why tell us actually believes that they can make those changes even without the majority and congress. right. that the court in new york, thank you. and shifting gears more than a year into russia's invasion of ukraine signs are growing that moscow is

struggling under the weight of ballooning military spending. it's now classified or left unlisted, a 3rd of its spending, while the public might not know the specifics. one thing is clear. war expenditures are crowding out much of the countries budget. russia's defense minister inspects his supply lines. but munitions like these are running in short supply, and my new weapons is an expensive business. and when russia is hoping to keep out of the public eye, according to russian finance, ministry, data, unlisted or classified spending has doubled since last year, indicating around a 3rd of the budget is likely connected to the war effort. $31000000000.00 in total, dwarfing all other publicly listed government expenses. each of those stood western sanctions also continued to bite according to russia's president didn't leave for his key italy, mickey, he legitimate restrictions imposed on the russian economy. the medium term can indeed have a negative impact on it. versus this regard, we need to ensure a sustainable increase in domestic demand in the situation. but it becomes the

leading factor in economic growth. i wish it you, you put in was saying the opposite just a couple of weeks ago. so what could this mean? i think it means that who it and is realizing that this war is gone to be longer than he anticipated. and that it will be more costly and that it will also demand a lot more sacrifice from the russian population. and so i think what he's trying to do right now is to prepare the public. and also, the elites that does has gone to be longer and more expensive than originally thought. it's unclear to kremlin, can kick start domestic demand according to russian official figures. the country went into a slight recession last year with g d, p. contracting by just over 2 percent. however, that factors in increase military spending, indicating rushes domestic consumption is likely ferrying worse than it seems at 1st glance. meanwhile, in russia, a wall street journal reporter engaged kevin has been detained on espionage charges

. his latest report from moscow focused on the russian economy, slow down amid western sanctions and with more and more arms needed to keep russia in the fight. moscow's war machine is when heavy on the kremlin coffers. while sustainability often comes with a higher price tag for luxury watch buyers, that's not such a problem. and watch makers are getting the message like at a recent trade there for swiss companies. they seem to be floating in time and space. even the company enables horse has elegantly taken off, and miss watches are extremely desirable for collectors, rich collectors in particular, as they retail for thousands of dollars, much lower than the price, the company's ambitions when it comes to sustainability, a mis aims to achieve net 0 emissions by 2050, other than that, the firm says sustainability is built into the product because it's meant to be

treasured forever. to school with all nerves, we do everything to the products. i've had it last along a ton of history repaired. of course that always will watch, but we will. yeah, i phone we were i, our backs is full, the object to the lifespan of up to 50 sequels. yohina has also, i would say that i've never told you that i respect full of the entire mac. drew's, however, more can be done and more has to be done as swiss watch makers are facing increased pressure to prove their commitment to sustainability for its current collection. oldest works with straps made of recycled polyester, recycled plastic as the source port dial some other models. luxury and recycling, not mutually exclusive, says another watchmaker was innovative models feature an oil bubble display controlled by magnetic fields. that to the indeed the sh were the materials we chima level to watch or either recycled over my productions as

them in which we have our confidence dos and we want to be booked and watch or fight. i need it, but i also wanted to yarmouth. that would lead a certificate for social and environmental sustainability for some. it's part of the feel good factor when wearing the luxury time piece and that's our show for more about these and other stories. you can check us out online. d, w dot com slash business for also on youtube or the deed of news channel or even on facebook for me in the business he likes watching a minor crisis all the beginning of a new claim. several us banks are in trouble. well, credit suisse, one of the biggest bang in the well does on the brink of bankruptcy. how does it

come to this? what exactly is at stake? and what makes thank systemically, relevant, made in germany next on d. w. time as an odd to conditions are about far more than science, raw materials and trade. the arctic is on strategic importance for the middle kingdom. is this an attempt at we shuffling the cards on the world stage. in 45 minutes on d w. o. you become a criminal pre climb aol already knows that kind of to

take talk with him about hackers and paralyzed me tighter societies computers that out sure. you and governments that go crazy for your data. we explain how these technology work, how they can only go super fast, how they can also go terribly. watch it on youtube. oh mm. mm. the drama that's hit some of the world's biggest banks in recent weeks can be downright frightening for anyone. scrolling the latest headlines.