>> yes when things get negative, peel get too negative there's a reuters story this morning about basfical company, saying the ceo sees sharp second-half downturns. not true with frank who checked in with them not true at all. they don't foresee that. they're also talking about how there are some issues involving inflation but -- >> let's make this clear a reuters story saying that the ceo foresees a downturn. who is frank -- >> frank mitch is my go-to analyst. i followed up with the company, headline is misleading, taking quotes out of context. potential consumer demand impact, they reiterate their guidance so it's not foresees second half this is just wrong, okay but if you read it and know this is as equal to exxon's chemical division, basf, they own this company town and i just think that the idea that basf is doing poorly, this is not true, it will matter, by the way, if natural gas stays high >> could it be a reflection of what we've seen overall in commodities this morning >> i'm talking about something that's not as gloomy and if you think about this, it's conceivable, i'm posi

yes, and all over the world, the german chemical complex basf was under threat of closure, and thesereason is obvious lack of russian gas, as wall street writes, jonal, the entire business model of the german corporation was built on affordable and high-quality raw materials from russia, and gas is not only a source of energy, but also raw materials you produce components, materials for household chemicals, cosmetics, medicines, and so on, but perhaps the most painful in the current conditions is ammonia, the key to the production of fertilizers. germany has already refused supplies from russia and now german farmers are at risk of facing with an even tighter deficit on the eve of the passive one. and in the united states, the work of one of the plants of the largest american aluminum producer has already been suspended since monday, the reasons the company indicated skyrocketing energy prices assessment period. downtime up to a year during this time , the corporation expects energy prices to return to acceptable levels, which is very unlikely, given the reluctance of western politic

we heard from basf this morning warning about the second half of the year, that stock is down more thanfixed income we are seeing more demand for fixed income markets as investors pull money out of equities they seem to be putting some of it into bonds, yields lower across europe. 10 year gilt here in the uk 2.5%. >> thank you very much now to your top corporate stories. silvana is back with those >>> a group of uber and lyft drivers are accusing the two companies of price fixing as part of a new lawsuit. the drivers claim if they were able to offer lower prices to passengers, consumers, they were be provided with the most competitive compensation the suit adds by preventing drivers from doing so, uber and lyft harm competition with consumers paying more and drivers earning less the complaint misconstrues the fact and the law, uber said. lyft did not have a comment. >>> boeing warning supply constraints will likely continue into next year saying labor shortages and sub tier suppliers are an ongoing issue. adding demand for freighter jets did not get impacted during the pandemic and he b

. >> the journal had a big piece about basf. about having to shut production because of energy and security in europe. the option of doing europe instead of u.s. and said a little weaker? >> it is a company town. it is way too big a town for the germans to just forget. it is where all of the chemicals are. >> were talking in terms of chips. >> i think that if you give the chip companies enough money, they will come. i know they have the chemical gadgets to make it happen. and i know that pat gelsinger is a great american who is committed to ohio. he has made this is life's work. he did say that we know that the president said that he had a bad year. so trying to work out where he is with the avalanche to figure out. >> where if it's in. the playoffs. i wish, by the way, can i say they wish that all these people is stop invoking god or at least figure out where god is in the standing? >> secularism has taken a hit. >> yes, it has. you can kneel in the middle of the field and that's fine. we pray before every win and every game an

against this background, the largest in europe and throughout the world, the basf chemical complex waslosure, the reason is obvious lack of russian gas, as they say on wall street, jonal, the entire business model of the german corporation was built on affordable and high-quality raw materials from russia, and for chemical industry gas is not only a source of energy, but also a raw material bass produces material components for cars household chemicals, and cosmetics medicines and so on. well, perhaps the most painful in the current conditions is ammonia, which is key for the production of fertilizers, germany has already turned out to refuse their supplies from russia; now german farmers are at risk of facing even more severe shortages on the eve of the sowing season. but now, to understand the scale of the problem, integrated chemical complexes are 200 plants. but meanwhile, just a month ago, western media wrote that due to a decrease in russian gas supplies. at germany suffered only small and medium-sized businesses. it is not surprising that experts are now talking about the closed

recently, gm posco and basf announced a major cam facility less than 100 miles from vermont and maine. the cams developed in quebec will power gm's next factory in michigan, as well as facilities in ohio and tennessee. the gm posco plan is approved, together we can create jobs on both sides of the border. for ev manufacturing in north america to be globally competitive, it needs to be truly north american, to be truly competitive. like in the u.s., mining products in quebec require numerous permits and transparency. through authorizations. we have streamlined these processes while increasing social acceptability and transparency. through government reforms and the new permits coordination, we cut administrative for now it is cut by over 30%. cutting red tape generated substantial savings for industry, without, of course, weakening our environmental stewardship. the industry knows that social acceptability and sustainable development are paramount in quebec. companies are adapting globally recognized and sustainability certifications and standards, and sustainable development and susta