some think this made a mobilization east the movements last to gasp after multiple nationwide strikes. but these parisians say they'll keep up the pressure. and the bullet from this political battle may be felt for years to come home. you're watching d. w. news stay with us for business coming up in just a few minutes. i'm terry martin for me and all of us here at d. w. i to watch with journalism help us in overcoming divisions. register now for the d. w. global media

form 2023 in bonn, germany and online and increasingly fragmented world with a growing number of voices, digitally amplified. you see where this clutter can lead what we really need, overcoming divisions into vision for tomorrow's journalism. register now and join us for this discussion at the 16th edition of d. w's global media forum. ah, ah, american regulators sees troubled lender 1st republic. j. p. morgan snaps up the banks assets. it's just the latest chapter in a month long global banking crisis. or so on our show start ups after so more

to attract investors. we'll look at the scene in berlin. hello and welcome to our show. i'm seeing beardsley in berlin. us regulator seized beleaguered american lender 1st republic bank over the weekend. it's the 3rd us bank failure in less than 2 months. a banking giant j. p. morgan has won a bid to take over 1st republics, assets that you'll also finalize over the weekend. 84 1st republic branches in the u. s. were set to reopen as j. p. morgan chase branches on monday. a behind that banking crisis is the rapid rise in borrowing rates in the u. s. and elsewhere in recent months. that's also hit startups hard. a young growth at all cost companies had become accustomed to bucket loads of investor money. when rates were lower. now they're having to show a lot more to get the cash. ah, berlin is home to 3000 startups were employed, 70000 people. but after many years of an upward trend,

now financing difficulties are looming. launch lot startups such as claudina, tier, and get have already laid of many employees. here on the, all of these things that had suddenly appeared interest rate increases, economic development, ukraine crisis banking crisis. all of these had a fact on the start up seen. that means that investors are hesitant about their investments to a certain extent and reluctant to provide followup financing. that means that there is a market in wait and dive and mocked ah, around $10000000000.00 euros were invested in startups in germany last year. this is 43 percent less than the record high seen in 2021. efficiency and organic growth are now in demand. instead of rapid expansion, we are strongly promoting growth. distill one of the important aspects recently got

fixed, but now it's also about building a really solid business model. being able to handle the money and using the capital efficiently. if it's an id was s, these are good times for so called gov tech. in other words, for startups that deliver new solutions for the public sector and therefore having the state as a secure and stable customer. for detail, for example, automates operations for public administrations is unions from standard we are seeing a lot more interest now than before herself. is the start to for our sessional much data level because people are looking more carefully in aspects like however, she does. the business models aren't of how well the money is used. pot melissa, right? you also have financially sound customers for this bar. of course, the administration is something different than moody consumers who are concurrently changed their minds. sengleman. there's no might of mine. ah, even if the golden years are over now, there's still money and interest for startups. the difference is that now investors

are taking a much closer look at to companies. the start up market may finally be facing reality off true. well, the reality is it's been a jolting past few years for workers, coven inflation, now worries, over a i, and things aren't going to get easier. that's according to the latest future of work report from the world economic forum. it says that technology and the move to green economies will destroy some jobs, will also creating many new jobs. i spoke earlier today to saudi the hedy. she's managing director of the dubey of and i asked her to summarize her report as briefly as possible. it's obviously been a very disruptive period, but there is more destruction to come. that's essentially what we find with a quarter of jobs likely to go through some kind of a change about 12 percent likely to decline and about 10 percent that are likely to grow. all right, so a lot of disruption in this report. i want to talk about one of the 1st points that

i saw on this report is this idea of divergence within labor markets based on skill . now we know that there's always been a gap in incomes and, and, and outcomes for workers based on skill level, higher skilled workers to learn better, the lower skilled workers. should we be concerned that that gap is getting bigger and bigger with new technologies? and then in fact, it's becoming a gulf i think it's very clear that there is a hollow, hollowing out happening off the labor market based on skills levels in the last few years. it's really been about this concern around industrial robots. displacing those that work in factories, for example. now, to some extent there's been that displacement, but to some extent there's also been a lot of growth in terms of the advanced manufacturing workforce. a very similar pattern is now an emerging when it comes to artificial intelligence, where those that are at the lower end of the skills, around administrative and secretarial work. now risks being disrupted by

a i especially generated a i. and at the same time, there's a lot of growth in higher value ad roles. so we're seeing very similar inflection point now. and so there is some of that risk, but the net result is still positive when it comes to technology impacting jobs. um, you mentioned the this, this disruption that is this idea that jobs are going away, jobs are coming in due to factors such as technology, the green economy taking route. why is that we see a net positive and sort of a net negative when we look at, for example, automation. that's obviously something that's in the headlines we look at what's happened with generative a i, i imagine a lot of viewers have the feeling that they're going to be fewer jobs because they might be taken over, especially in the lower skill level. yes. so this is where on half of the companies that we surveyed actually expect technology to be a net job creator and about quarter expect technology to be in that job destroyer.

so overall i think the outlook is positive rather than negative, especially when it comes to overall numbers. and i think in part this is because of the possibilities of the application. so some of the largest gains in jobs are going to come, for example, from the agriculture sector, about 4000000 new jobs. some of the largest gains are in education, about 3000000 new jobs. when it comes to the green revolution, about $1000000.00 new jobs and each one of these rolls is going to be in part enabled by these technologies. so i think it's not quite as simple as technology taking away people's jobs. there's a lot of additional augmentation and growth across sectors that technology will also create that was sold you the heating with the world economic forum, and you can find that full interview online on youtube. under our d. w. news channel with u. s. as kicking off its annual for day investment summit today, which this year seems more like a victory lap after all,

overseas firms are already rushing to get part of the more than $400000000000.00 in climate related subsidies as part of the new american inflation reduction act, well, that act has europe worried? could the continent lose even more supply chains for renewables as companies rough rush across the atlantic? well, that's what i recently asked professor michael berda at humble university in berlin . take a listen. it will be difficult because of the use hamstrung being a union of many jurisdictions with different tax authorities makes it very difficult to present a single tax break for investment in the european area. and each country for itself is not a solution. in addition, europe has this predilection for, for going for, for direct subsidies, giving money. but you have to apply for it. you have to go through a lot of bureaucracy and you have to learn how to do it takes a long time. and this is the european problem, i think when we look at the u and their response to the american

plan, inflation reduction act de point to the green deal, which is a plan of a much longer term. it says that they want to build up resilient supply chains, and they point to the u. s. and they say, this is big money, but is it going to be there for the long haul? do they not have a point there that there is a longer, more structural plan that you completed the u. s. u u has one advantage of the us doesn't have because there are several jurisdictions there, many different ways to get to room. so there are many different paths and, and establishing durable or resilient value added chains really involves lots of different points of contact. and i think that could actually be affected be would act in europe's favor, but a general over the overarching policy to establish a durable value added change. i don't see much in and i see competition among the states establishing more reliable alternative. d risked sources of

inputs for european industry. when we look in general at the way the trade environment globally is moving reset, of course, the inflation reduction act, which has a lot of protectionist measures in it, in terms of where people can produce, where firms can produce in order to get these subsidies. whereas there are other things like chipped act, the you has it's carbon border tax that's going to come up for too long. are we seeing the as we see these protectionist measures? what does that mean for prosperity in general? we look at the look at the world. when we move away from a global i system trade. i think the crises of the past 10 years have pointed out that as a trading system, the world is a bit bit vulnerable. and i think the natural reaction, especially respect to the politics and the war in ukraine, has been to, to withdraw to a sort of a regional approach. and i hate to use the word, but multi polar approach seems to be emerging where the united states and its

satellite trading countries in the u, which is a very large trading block. and then of course china and it's trading partners. this is and development, which is not great for rural prosperity because it will certainly reduce the inter linkages between these trading blocks on average. and this will mean higher prices for us. it'll mean less opportunities for, for asia, for example. and it may mean less lower standards of living unless economic growth over the medium term could we expect us to also, for you to, in a sense, choose sides more geopolitically through trade. have to make decisions and trade. they're going to affect you politically. this is a real problem because the united states has used the strong arm of the networks that controls in, you know, in a way that sometimes doesn't appeal to european policymakers. and europe is asked

to choose between a rock and a hard place because the alternative would be to go with china. and we've seen this that recent statements of my call and other politicians criticizing chinese statements on the baltic. states is a great evidence that europe has to sort of establish its own existence and, and probably do so very quickly. michael bird university. thank you very much. thanks. and his reminder of our top story, us regulators seized a beleaguered american lender 1st republic bank over the weekend. the 3rd american bank failure over the past 2 months, making giant j. p. morgan has won a bid for a full takeover of the company's assets. and that's our show. as always for more about these and other business storage, you can find it online, w dot com slash business. we're also on the dw news youtube channel, and see there's a black watch which

superstition or reality. they are hunted to this day. d w reporter, counting him. it follows in the footsteps of her ancestor who was at the stake is the mythology of which is really a thing of the past parts dw, kick off. what's going on here? what is he doing? who do they think they are? good questions. you can find the answers here, all the games,

all the goals. the point is the highlights. in 60 minutes on d, w. we are all set and we're watching closely. we are all aim to bring you the story behind the news. right? we're all about unbiased information. fremont done. ah ah, they fly through the air on broomsticks. they cast spells, conjuring both good and evil. they can be hideous and frightening or sassy, seductive and downright sexy. which is r. a mainstay in western pop culture. my pretty you're now dog.