and attempted to find a solution to the crisis there. she described the talks as extremely frank, and at times quite difficult that she needs update on our coming up next at troubles with wind turbines, for her record losses at one of the world's major energy companies. steven beardsley has the detail, dw business coming up after a short break. i'm quite richardson in berlin for me in the whole team. watching the videos and doing you belong to the 77 percent to come to i don't go to 65

last last those top 5 years, 31115. we're here to help you make up your mind. we are here on please find your mind. so all the topics, i'm much it to you from trouble fixed a new culture and in 15 minutes, let's say you stock the part of our community life on the research is now on the a terrible result for a major energy firm now hasn't rethinking it. strategy for wind power altogether. well, it could help simmons energy loss, almost 3000000000 euros and the latest quarter isn't out of the woods yet. also on our shoulder convoluted steven controversial,

the shipping routes for greens coming out of ukraine are now raising prices and frustrations and brazil is set to host to summit, around protecting the amazon rain forest. we'll look at how industrial pollution has it one community in particular. hello and welcome to our show. i'm seeing busy in berlin, and we begin here in germany. we're one of the world's major energy firms. ziemen energy says it's rethinking it strategy for wind power. that after i watering result in the last quarter, a 2900000000 euro loss due in large part of problems with 2 turbine models. and that's going to cost savings energy, specifically a whopping $1600000000.00 euros just to repair and replace flaws. and it's 4 x and 5 x on shore turbine models, both made by its spanish subsidiary, z means gum mesa. now that firm may, so it has been a problem, presume, is energy ever since the latter was spun off from industrial, giant demons in 2020,

in fact seem as energy has yet to close the fiscal year in the black. it's share price going into monday. was down 1717 percent this year alone, doing part of its own problems as well as problems in the wind industry in general . now here's what siemens energy c o christian book told c and b c. you said that the loss was really a quality issue in terms of going to fast with new products into the market. and help us understand this better. i'm joined now by feel a deal. she's a fund manager and analyst at when you on investment, which is a major investor in siemens energy feel. welcome to the show. um, you know, investors knew that this bad news was coming. this was announced in june that there were these flaws with the turbines. was there anything in this earnings released today that really struck you despite the fact we already knew some of this a hi, steven, and thanks for having me. um, under normal circumstances,

i would have had to potty today with the old income um that siemens uh, energy booked, as well as with a guest and po, a business. and we finally got this 1600000000 number on the table. finally, that we waited for a quite a while. um, but right now still a lot has to be done. um for a few minutes energy. um, i was one of the investors asking for the take over of me saw to have the full grip on this spanish business. and i had no clue about what would put the pop up next and that we had so many issues to solve here. i'm afraid is that clarity that we're seeing now. i got this number 1600000000 euros. we talked about a 4500000000. your loss for the whole year. is that clarity? is that showing you that z means energy really is in control? is that per provide any optimism going forward?

i'm afraid, steven. no, it's not. um. the problem is that the growth of the company is shifted towards the future. now we'll get another update at the capital markets day of see minutes energy in november with even more details. and the whole issue is not solved yet. um, we have to sort of still prove um putting and see how many more um, how much more money will will flow into this. i'm afraid. no, it's not the end to my mind. we're not over it. 100 percent. you already mentioned the um, the staggering order is actually for wind turbines in this last quarter or more than a 100 percent increase. i believe from the last quarter. what are the conditions otherwise strong for this segment to make money when we look at it as well? currently we have to see you how strong the margins are in the older book and to

really comb them through, as you will have noticed as well. and the revenue out look has been lowered because right now we have to work on historic orders of course, and we have to work on historic problems from see minutes. got me. so rather than taking our money to put it into our indeed going forward. and i'm thinking about hydrogen's, for example here, and also about your products and you solutions for customers. so we have 1st step to solve the costs. um, then we strength of the company and then we look forward to the future. but that will take a while and i don't think that will be done below 3 years from here. all right, that's fear of deals. he's a fund manager and analyst at on your own investment, which is a stakeholder in siemens energy fair. thank you so much. thank you, steven. and we go down to some of the other global business stories making

headlines. a german industrial production sell more than expected in june dropping 1.5 percent. the percentage point more than economist had expected german industry is experiencing weakness and the lower demand from china, higher interest rates in the fall out from the energy prices. the german government has announcing new federal aid program to accelerate investments in d. colonization companies will be able to receive up to $150000000.00 euros and direct grants or tax benefits for activities and so called transformation technologies. the program is part of a new e u framework for state 8, the target screen investment. saudi state run oil. john a remco has posted a shortfall and profits in may 30 1000000000 dollars in the 2nd quarter. that's a decline of nearly 40 percent when compared to the same period last year. remco blames declining energy prices much like it's peers,

which are also seen falls in revenue. a can grant export from ukraine cord we rape seed make it to market without going to the port city of odessa. and that's still a big question. in the weeks after rush refused to extend a grain deal negotiated with united nations. now, producers and ukraine or a desperate search for workarounds. but with every solution comes new friction. take a look. a russian missile attack on the green storage of the training company. grain alliance captured by surveillance camera. $16000.00 tons of we are no longer usable green alliance grows wheat, corn, and rapes seed, and ne ukraine on $60000.00 hector's. before the war, the harvest was ex forwarded all over the world through the port of odessa. everything's changed since the russians took over the fords and stopped. we exports from ukraine seats and we think general it was going

to indonesia and markets. china was primaries market for form from ukraine. unfortunately, it's not there because making the, the west coast bar. so it's like seaports closed is not still possible at this moment. so those markets basically for you. great on what's existing for the to as as a to be now the company is relying on a rail route through slovak. yeah. for transportation green alliance has purchased an entire fleet of wagons hoping to free itself from expensive freight rates. but in slovakia they have to reload the green onto narrower european wagons. this is time consuming and drives the price is up again. and there are bottlenecks in further transport because we have to come up with the release through the border. wait the using the border then to transferred from one by going through another by

means of silas elevators. and then to seek for you, i guess you were being diagnosed because availability is not that competitive. as i said, these a new train, the port of broadcast in northern germany here, the ukrainian grand alliance managers have found a german buyer with the buyers do with the green grain alliance doesn't know. maybe it's susan germany there's a noise. farmers like all right, more. who also grows grand on his farm in the state of lower saxony. he fears prices will collapse for him, it would be better if he crating grain would be transported to germany, only for export. from an economic perspective, it would be sensible if the you were to provide funds for subsidizing the freight of ukrainian weak towards the north and baltic sea. so that this week and then also

go to developing countries and alleviate the greatest need there. whether such, e u subsidies will come is unclear. the managers a great alliance are running out of time. they need to sell their harvest now they can pay their employees and receive their fields. i will be getting it tomorrow. an amazon summit in brazil, we bring together leaders of 8 nations to talk about protecting the vital landscape and habitat. it's written by illegal loggers and gold miners, animal smugglers, even drug traffickers. but industry has also left its fingerprints on the region. here's a look at one community the city of bel, them at the mouth of the amazon river is the main entry point to the brazilian rain forest. it whole several leather town rays which have been dumping their waist into the river for years, killing wild life. and preventing fish in the area taken away, the livelihoods of many people who live just 5 minutes away from the city. well,

the past, the water was crystal clear. not like it is today. but 10 or 11 years ago we began to change. today we don't have the abundance of fish and friends anymore, and we don't have many of the things we used to enjoy from the river. we can no longer use the river and we'll watch since 2004 communities of made claims again, several level. a ton of res. research has found that the toxic element chromium is using the letter preparation process and that increases the chances of developing cancer. to the veto power institute, an organization which monitors the safety, eliza of belgium residence, find the summit, hypocritical, many, many, not even one environmental inspect to a came to visit us. is it? we are ben and inside the city. we are ben and i'm sad, and by this summit they were supposed to come to visit us to see what the people of

the river side lemme going through. but we are being trampled by human greed don't yonder, but i've got news and a settlement. the public ministry of the state of power a function for companies, hopefully using the river and the university of power caliber rates with the firms to provide technical solutions to decrease pulled ition. but the residents here say the lifeline. the river continues to die. and then finally, the pink wave is still going. barbie has now hit the $1000000000.00 mark in the global box office credit. garrett wig becomes the 1st female solo director to have a hit film hit that my step, that milestone other barbie success appears to be opening doors for other products like films for my tell, which is floating. i do a feature length films for the likes of other children's clothes, including hot wheels and polly pockets shower, pulling up my roof. that's a show check us out online dot com slash business. i think there's like

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