supermarket, this height is prices to reflect what it says as a true cost state of your business on robots in bell and welcome to the program. can your wrestle itself out of it's kind of make funk date this week and the kinds of business activity in the yours are and declined as an even faster rate in july, done in june export because from germany this because i suggest it's straining to escape its economic down to the bank of england, or say, hiking interest rates yet again on the state, problems across the continent to appear to be assisting. so let's discuss the situation in your with your kramer chief economist, i commerce bank. thanks so much for coming on to give us your expertise on this at the end of a week. but if at all kinds of data floating around it, we got anything of a better idea of both the situation your van economies ended and i went ahead today we had a surprise increase in manufacturing orders in germany,

but this was only due to bike orders if you have tracked from this special effect, and you'll see then you'll see a continued downward trend to this important view to indicate as all of the side. all the signs are that the drummond economy is heading for recession and the 2nd half of this year. germans and many europeans of i've had a difficult yeah. even longer, in fact, with prices rising and such as always a point yet where your friends can start to, to think about recovery issues in the pricing themselves for a continued strain on the household income. well, let's put it this way. i think the pain in terms of inflation is using the inflation rate in the usa and has come down from over 10 percent to roughly 5 percent. therefore, this is better bought to don't forget that the c p had to race interest rates, buy more than the 400 for the 5 basis points. and the such rate hikes,

which we also see globally typically takes its toll on the economy a. this is a main reason why we expect that to use on a call 8 years on economy should also go at least into a kind of technical recession. that means that is not only a forecast for the, for germany, but also for the us on, due to the sheets increase in interest rates globally. okay. your claim from covenants bank, it's been really interesting to just get your reflections on the others. that strange data that we've been getting this week, some surprises in that some good, some bad, but thanks taking us through them. now let's take a look at some of the other level business stories that are making the news the and the your as a 197000 new jobs outside of the funding sector. we're created in july, that's slightly fewer than expected. you unemployment wrightfeld, i from 3.6 percent to 3.5. rising interest rates and increasing wages may not ex,

that's all saying the us labor market remains robust. china central bank is blessed to increase financial support for the countries private enterprises such as will make it easier for them to secure bank loans. china is currently suffering from decreased foreign demand a week in real estate sector, rising unemployment, sluggish domestic consumption. i mean, it's highly and low. a 5 minutes has passed a law or giving kansas the volume is the right not to declare the past condition to funds of insurance agencies effects. 1000000 people who recovered from cancer survive is often being refused to loans or cover because of their medical history. so my last already in place in front of portugal, i'm some other countries a cyber criminal couple have pleaded guilty to attempting to loan to have a $4000000000.00 with a bits claim they stole during a hack in 2016 at the morgan and lichtenstein were arrested last year in new york,

after police operation, the link, the assets to the crypto, christ inflation has seen many your fans paying an awful lot more for that groceries then they used to. but some environmental, this would argue, we're still not paying enough for the foods that we eat. now. one gem and supermarket chain has temporarily increased its pricing to reflect the true cost of each product sold out. and that's despite a 60 percent price rise. the organic yogurt at this berlin store of supermarket penny. so a price pump as part of a weak low marketing campaign across the country is $9.00 products, including yogurt, different types of cheese sausage and reagan snips. so part of the so called food costs campaign, drawing attention to the true impact of groceries on the environment. and event

costing to improve costs include the costs stuff, environmental effects, not just the value chain, which we have for the costs of the environmental effect. consumer prices could be different from what we have now. we do that researchers have calculated how various products affect climate change during production. for instance, honeywell waste and this impact on the climate, the amount of so degredation caused by farming how ground water is affected by production and the health hazards such as harmful pesticides. so products need to be significantly more expensive. 400 grams of sausage cost, 88 percent more but only 9 percent of the several thousands of products. it sells a part of the campaign of a discount here. it has also made other products significantly cheaper. many customers. i shocked about the high prices

we had to adjust. that means we had to look carefully to figure out what to buy the costs. we thought that would be a roast on the weekend and that's it. you know, roast and knows to every 2nd day and quickly even though so produce the farm. us don't get anything they need it. that's where it's justified. some of welcome to pennies effort to raise consumer awareness. but others including the farmers association and food watch. consider it green washing, that's because the discounts are, isn't ready to pay for juice's, adequate prices. what speed is on to infinity. the many farm us also see it as a bit hypocritical when a company that spends all its time trying to push the purchase of prices down and buy some degree cultural products at low prices. and then suddenly comes up with ideas like this. you know the ones, the campaign ends next week, the products will be returned to the cheaper prices at penny,

despite how much they harm the environment as well. let's discuss this a bit further. with larry's on the phone from data we were environment. good to have you on the program. so what are we looking at here? is this uh payoffs done to the greenwashing are they actually highlighting and relevant points? i think it's a little bit of everything. there are definitely groups that are cooling the company out for green washing and accusing them of hip hop, christie too, because walters prices have gone off from those 9 products. they are still being pushed down on other products with little regard for the environmental cost of those. but they're all organizations as well, like green piece, for example, that of praise. the campaign for bringing focus to what is a big problem um for production costs is around a set of greenhouse gas emissions and also causes other wider impacts the environment. so it's good to have the attention brought to that. yeah. so what is it that people do need to know about the environment,

environmental impact of the production of the fear that they buy in the 6th pocket? well, i'd like to start with an example. i'm sure there are a lot of people who have had buckets for lunch, for example, and beef is a big problem when it comes to the environmental impact. a lot of land is cleared to make plays the castle launches. this is a big problem in the amazon, for example, where it accounts for 80 percent of deforestation. not only does this stop those trees being able to sequester carbon dioxide, it also kills off uh or damages habitats for animals and for plants. um they're also crops, for example, where we use pesticides, which are responsible for killing insects. beads, for example that we need for public pollination. and then the 3rd a foot slices, which will say washington to our rivers include cause problems with bite of s t, but also for human health. how does this will relate 3rd to how much we, we pay for it, i guess. what are the harmful processes make food? chief s o. is it just the fact that we're ready we are paying through the profit?

i mean, some experts would say that we definitely need to put the price off. now for your general need to help cover these costs and also begins direct impacts of the environment. a, sorry of be a food production blogs. um, some organizations have advocated, for example, for taking away tax from plump based fluids, which are generally better. so the environment, i'm putting higher taxes on meat and dairy products as an example, but there are worries, but obviously this could have a negative impact on consumers with lower incomes were already struggling as a result of installation. let's say that's so that's interesting. so we could get, you know, cheaper organic phase, more expensive of your top. there is also one thanks so much for taking us. so last that drought is taking a dramatic told one of the most important was the ways the panama canal authority

has announced plans to restricts the number and the size of ships passing along the route. the measures could mean as much as $200000000.00 of trade is lost. next year . more than 14000 ships went through this waterway last year. that's the highest annual numbers seen in the panama canal in a decade. but that set to change this year and next, due to a drought the, from the survey to evaluate the current crisis is unusually severe. it's a good one robin started from now until september, next year. i think we should be operating under very tight restrictions. the drought is the major challenge, and the peculiar feature unique to the panama canal makes it worse to go to that look at the major disadvantage. the dependent canal has compared to other maritime

routes, is that we operate with fresh water, while the others use salt water. what do these are? the panama canal needs rainwater to operate smoothly. a drop in water levels limits the number of bolts that can pass through. that will hit the panamanian economy as the waterway accounts for around 40 percent of its economic activity. and just lastly on the program ready, freddy. freddy mac uri's possessions up for auction in the u. k. about $30000.00 objects. the guy under the hammer, including the queen, front mans royal road, and crown was sent to face of the auction is a baby grand piano, which he composed some of queens biggest hits, including a human reps. it's expected to rise at least $2000000.00. that is, funds can see all the lots for free at surveys in london until september, the se. so from the end of business team here in berlin, from o at to d,

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