this is profit falls, sharp lever, says it's reluctant to take over at credit suisse is not to blame. and mechanical cooks in the canteen, meet the robot chef that could revolutionize how companies feed. there is a state of your business or what's in berlin. welcome to the program. the world bank is calling for better migration policies across the globe and its latest world development report. it says, there's an opportunity to make migration work better for both wealthy and low income countries. the report says that many industrialized countries are facing diminished populations and intensifying global competition for workers. while low income countries are expecting rapid population growth, adding pressure on young people to find jobs, the world bank is also pointed to the number of refugees tripling over the last decade with climate change threatening to feel more my question. well,

let's bring in savvy a direct or the co director of the world development report. so one of the authors of what we've just been hearing about and can i ask you, are governments failing to grasp the importance of migration to their academic futures? many countries are facing a huge demographic challenges. think about this, italy, by the end of the century with have it's a population could by half spain by one 3rd. so the question of all these country it is, how's it going to find workers to actually take care of energy condition? but what's also interesting is that it's not only about which countries even meter income countries are facing similar challenges. countries like bo, gladish, india, mexico, turkey, tunisia, all have both rates that are below replacement levels. and so in this context, migration becomes absolutely critical for countries to maintain their current levels of prosperity ought to advance in their development referrals. but

nevertheless, in many countries, immigration is actually unpopular among the civil population. so how do governance go about making the case for bringing more people into society of thinking a time like now when we have economic strife in so many places? well, one much star. he was bugs door, you know, she, she months ago, they were used by eggs and demonstrations in france because of an extension of the retirement age by 2 years. but if you think about it, there would be a need for a much longer extension of a retirement age. is the demographic changes on which dressed? you see when the pensions systems were established, there were on average $5.00 to $6.00 workers for each retiree. today got 2 and a half. i had still going down. so maybe these are in poland fights that can help

basic debates on it. i can help with the debate from a different bit is i'll just look as a number of the shortage of housework as a quasi. you, once again the val are issues that, that need to be, that was, there is a fact though that one could start fun, which is already lives by medical doctor is from india. my kids economy through choice. i'm ga the guy who came to repair my ac the other day and i'm, it's your job. my cleaning ladies from columbia. you know, it's been open wrong with you so many migrants while making a strong contribution for our daily lives. but do you not get the feeling that that argument isn't currently being won the argument in favor of the benefits of migration given you know, how populism has been, i was take hold in so many places in anti mike and rhetoric remains a big problem in so many countries is that argument being one, but he,

what we have to do is to us, so we can now note all night, most of the same. one micron spray skills that are strong match for the needs of the decision economy. everybody games, romance, the decision country, the country origin i'm. that's what we see when people come with a, you know, nurses, the engineers, all these are just, you know, special i, factory workers, congress. all right. i think the challenge is, what do we do when people do not bring sub skills and how do we my charge now, this is a relatively small number of miles compared to a vast majority of it. but the reality has been extremely difficult to my heart and situations in a manner that is both effective and, and you made a lot of debate about my question folks from the situations i'm from the difficulties in biology such sort of problems. so he had

a victim there from the world banks. well development report, you actually see an extended version of that interview on the d. d to we news each of channel and see dot com slash business. now moving on, swiss banking giant u. b. s. has reported a profit drop of 52 percent for the 1st quarter is due to higher expenses related to ongoing litigation in the us surrounding the supply market crisis according to the company. additionally, u. b. s was recently forced into taking over failing capacity credit suisse. yes. is that it helps to complete the takeover deal before july that $3000000000.00 deal was pushed through last month by the government, central bank and financial regulator. let's actually discuss situation us further with hans paid a call from university of holland high thanks a lot for being with us. would you be us really rather not having to to handle the credit suisse take over the management?

i think employees would prefer not to do so. i mean that would work and how to get back on a good track and all that. a good track and their neighbor hasn't done his work and now they get his work on that table. they really hate that at all though with regard to competition for you b, as you could say, they have less competition to switzerland. but on the other hand, is large banks as a global bank. so their competitors are not necessarily it's what's a lot. so it leads to a lot of trouble inside the bank to get back on track with all the new employees coming over from credit space. and if the profits they can additionally get from this take over will cover the last we don't know at the moment it looks like a fair deal. the price of b s. price of so she has a was i was more or less read was before we heard from credit suisse the extent to which deposit has done withdrawing money just before the rescue. $70000000000.00 was taken out of credit suisse. we also heard from just recently our 1st republic

as well as a 100000000000, was withdrawn from them in the 3 months before that crisis was the actions taken by the authorities in switzerland and in the us enough to prevent contagion that have almost so. so, so worried about and for a much wider crisis to develop well, did you react very fast and with lots of strong decisions? so similarly for the moment that was a master question is how many more cases like that we will, will we get in this phase of increasing interest rates? it definitely lead to trouble and the balance sheet, all the bags. so are they able to react the same way again and again, and how many of this case we have to cope with? it's something we can see right now. that might be some cases. is that too many might get into trouble? and how close do you think we actually came to seeing credit suisse collapse. now that we see just how many, how much money was taken out by well, that's outside of you, but inside our safe, very close. because it's the only justification plus a harsh and very,

very speedy bear. so say i've got took to save credit suisse and get it and does the umbrella of u. b. s. otherwise, there would be much room for discussion. and there are some people criticize. let's use this decision for now, but actually we see from the price of b s. b s got more or less a fair deal. they don't really profit from that. ok, hands pay to back off. thank you very much for speaking to us here on the w. this pleasure now to some of the other global business stories making the news. netflix has announced plans to invest 2 and a half $1000000000.00 in south korea over the next 4 years, all to produce korean t. v series movies and unscripted programming. this movie doubles the amount. netflix has invested in the market since 2016 se squid game is netflix, as most watch series. for mcafee restaurants in russia have reopened in moscow as raw sticks. the new owners say the food will be the same as the former kasey man

here. the 1st one opened shoes day, but dozens more. expect it to happen. next month, casey's parent company left russia after it debated ukraine last year. next, the rise of robo chef international catering company. aramark believes that mechanical cooks could revolutionize work canteens around the world. and we've been to meet the bell in based start up. that's developing the tasty technology this past. this was not prepared by a human being. it was made by this cook and robert. it has been operating in the contain of an office complex in berlin for the past 2 weeks. orders are placed on the touch pet or wire and mobile app, and there's a variety of pasta dishes to choose from. a meal costs 8 euros 50. once payment is made to robert, start cooking the machine. mix of everything together, hits it up, and it's ready to eat in 5 minutes. ah,

i think it's fantastic. i'm very surprised about how tasty it is to thank you. transport, it really is good lunch dinner. those were slightly under cooked to let us know, but i think the machine can be fine tune this can be really compared with the contin foot and it's freshly made. so i think it's even better because it's not, you know, boiling in this sab preparation of pants a berlin bass start up 8 me develop the robot. it's founder emerald. pollard, worked at the delivery service. the massive shortage of skilled workers in the catering factory gave him. the idea is in as again we see it as a wage supplement, regular contin at lunch time. not to relieve some of the lower junkers on what it would especially be useful at night or on the weekend when there's still a lot of demand so long. but the regular contin would be too expensive due to the number of employees it needs, and the amount of ingredients that have to be kept on hand and kept warm. as a result, the contents are frequently closed at these times. for the head of german contin

operator remark sees a bright future for the robot because of a shortage of workers. he ordered 5, robert straight away since the 1st one started cooking here is be receiving calls from across europe. as is today, he who does the lack of skilled workers as a worldwide problem. we notice it everywhere. that's natalie. we are just having more and more trouble finding well trained people or getting people to train for the job for the common lawyer. you see that in spain, in the czech republic, as well as here, take it from the public and other than that was the classic contain kitchen isn't going anywhere. they see the robot as help, not as competition, but still the chef is a bit uneasy. as mine, my cousins have once failed us, then my wish would be more than robots to stay in a support role and not do the cooking for us. it's important to me personally that we keep on cooking the way grandma did it and build on one foot right off in the kitchen, has all from a on the same hand. berlin for head over to

d to we dot com slash business. and we'll see you next. ah, with

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donation one back to the gun. find out about robina story. in some migraines, reliable news for migrant. wherever they may be. ah ah, you're watching the w is coming to live from berlin. joe biden asks you west voters for more years in office. he was president releases a campaign video formally announcing he will stand for a 2nd term in the 2024 election saying he wants to finish the job. also coming up on the show, fresh clash has threatened to up.