the euro at .9889.ropping below that 99 level for the first time in two decades on the back of the announcement that the nord stream 1 gas flows have been completely turned off. equity futures pointing lower as well. more than 3%. reworking the gains of friday by some extent. how much more will be priced in? mark cudmore has been talking about this for weeks. let's get some analysis with yves bonzon, cio at julius baer. your reaction to this news. is it self, sell across european equities this morning? yves: i think we have an adjustment to the turnaround in u.s. indices during u.s. sessions on friday. and european markets -- there has been additional bad news with the news from russia that the pipeline will not reopen. after the temporary interruption. i think the whole energy complex is in a situation of complete disruption and dislocation. and i think the news from politics, not only on the front of the war but in terms of the measures, we see more sanctions and i think people increasingly doubt whet

alix: is the current energy crisis priced into the euro, is there something that puts the euro upsideis there another way to play that idea? esther: clearly. in european countries, we typically see an accelerated move so even if the euro is going down we do not see this significance with european countries and what were seeing is they are turning more cautious and i think this will -- with the eastern european countries. each day they are clearly we are seeing some upside potential there. alix: we appreciate it. thank you very much. this is bloomberg. ♪ as a main street bank, pnc has helped over 7 million kids develop their passion for learning. and now we're providing 88 billion dollars to support underserved communities... ...helping us all move forward financially. pnc bank: see how we can make a difference for you. guy: take a look at where european markets are. this is what all the sessions look like so far. a drift into the ecb. a bit of turbulence around that. what is leading us out of -- is the banks. we are in territory terms the rate story. from the supercheap rates. that's

and further demise in the euro. it into the fx column, the pound up to a quarter of 1%, nothing compared. the euro up fortunes of 1%. -- 4/10 of 1%. a hawkish narrative, more clear steps to follow if needed. you've got progress with the ukrainians against the russians. go the euro. dani: let's dive into that story. ukraine's forces continuing rapid advance in the kharkiv region, exploiting the collapse of russian forces. for more, we are joined by our europe reporter, maria tadeo. what are the latest developments? maria: what we see is a very quick but also effective advance from the ukrainian army in the east of the country. you mentioned the kharkiv region, but the pushback is still on the move. president zelenskyy yesterday was very clear -- "the liberation of our territory will continue." he says since the start of september, more than 10,000 square kilometers has been liberated in east ukraine for the ukrainians. this is a huge boost to morale the of really needed, and it validates the theory that heavier weapo

that gives portia evaluation of 76000000000 euros. while the initial public offering comes at a time when markets are inter moral, you to surging inflation and recession or worry, wagon expect raise over 9000000000 euros from the sale of portion shares. alright, let's cross over to frank for g and our correspondent actually find a has been following this market debut of portia. today, asters. there have been questions about the timing of this. i. p. o. after all financial markets have been in turmoil speakers. that's right. that's been the big question in that and of the, the ip your why now, why in the middle of a, such a difficult dimes in the middle of an energy crisis. and there is, of course, the recession looming. inflation is soaring at this, and at the same time the interest rates are going up with centered banks raising the interest rates. so it's been a big question, but it's certainly a bold move by folks bargain and you can see it. why behind me, there's been these crowds thronging to see the cars behind me, portia cars, t

o germany, the biggest i p o. germany has seen in decades, shares rose to 80 for euro's shortly after traders got the green light. it was a higher than expected star compared to the w neutral, asking price of $82.00 euros and $0.50. that gets portia evaluation of 76000000000 euros, while the initial public offering comes at a time when markets are inter moral you to surgeon inflation and recession. worry for wagon expect raise over 9000000000 euros from the sale of portion shares. alright, let's come over to frankfurt and our correspondent actually fund a has been following this market debut, of course, or today after they've been questions about the timing of this i p. o. after all financial markets have been in turmoil speakers. that's right. that's been the big question in that and of the, the ip your why now, why in the middle of a, such a difficult time in the middle of an energy crisis. and there is, of course, the recession looming, inflation is soaring at this, and at the same time, the interest rates are going up with centered banks raising the interest rates. so it's been a

euro-dollar, of the euro is weaker.d half of 1% despite a 75 basis point hike which comes with the ecb announced today. the pound is also weaker. dollar strength, stocks are up banks are having a good day. we will analyze this over the next hour. the former ecb chief economist joining us in the next hour. the closes next, this is bloomberg. ♪ guy: european stocks broadly higher but the pound is down in the euro is down. the countdown to the close starts now. >> the countdown is on in europe. this is bloomberg markets, european close with guy johnson and alix steel. >> in normal circumstances if the ecb came out to deliver a five basis point hike and sounded his hawkish as christine lagarde did today you would expect the euro to go higher. it did not. we are down by around half of%

and the euro stands at very low levels.ink that's going to be enough to convince the council to opt for 75 basis points. there have been voices supporting a more steady pace. so, we don't think it is a done deal but given what the inflation numbers are doing, we think that the more likely outcome. we do look for 75. the key is how they explain this rate move. here we think they will say it's an unusually large step justified given what inflation is doing but it does frontload some of the adjustment. francine: if you look at four things traders are watching, a story by ven ram saying it is the margin of interest rate hikes but also the forecast of inflation that has to do with energy prices, the protection instrument and what happens to the euro. out of those four, what is most interesting? jari: most interesting is the increment and the forward guidance, or the communication around that. i think the other aspects are worth watching out for, too. on the projections, i think the questions are how much do they cut growth numbe

euro-dollar holds onto parity.hey don't expect an implosion in europe but they think the energy prices -- crisis will take it down. i want to show you what happened in the immediate reaction to the building consensus that europe will respond with price caps, windfall caps, and energy demand caps. gas futures dropped by 8% at the close. dani. dani: let's get to some of the other top stories and our reporters from around the world. we will get the latest from maria tadeo in brussels. dan moss for a u.s. cpi print ahead. manus: jules has the very latest on the asian market. it is a pretty punchy pboc. the european union is set to proposed this mandatory target to cut power use. measures to follow energy profits to consumers. for more, we will get to our european correspondent, maria tadeo. it is a three-pronged attack, maria. this strategy, does it have consensus? will all three dynamic parts of this plan get through? maria: yes, and, manus, i would argue instead of three, it is going to be two for the time being beca

the euro is due to the gas situation.ve some solution to this. it is difficult to see a reversal move whether the ecb hikes 75 or 50. there is the interest rate differential. the energy story seems to be very important. if you think this through -- this could imply that the level of the euro wafted be lower. tom: we still do not know what liz truss is going to do if she has won the contest but there is concern about the inflationary impacts of her plans. the markets are pricing in 4.5% from the boe by the first quarter of next year. is that realistic? silvia: the bank of england faces a sharp trade-off between inflation and the reduction in economic activity. we still don't know much about the fiscal prospect. this will clearly be important. a more expansionary fiscal stance might require a more aggressive monetary policy. -- a more aggressive monetary policy response and we are currently factoring in but at the moment we are much more dovish in the market. francine: so we are dog not from -- sylvia ardagna from barclays,

now it's tough to $464.00 euros. the jump was caused by the massive increase in natural gas prices, which is a critical fuel for european power plants. according to figures of the organization for economic cooperation and development, we see d. the price a spike in natural gas is the main factor driving energy costs higher across the market. while the price of running natural gas power plants is the rise, the production cost for renewables remain largely unchanged. but businesses and consumers are still paying higher prices for power produced by environmentally friendly sources, resulting in large profits for energy firms. all right, let's get more of this from alex cobham. he is the head of the tax justice network, a group aiming to highlight and come back. tax avoidance, welcome to the w alex. let's take a look at what energy ministers have been agreeing on. so a levy on fossil fuel companies surplus profits, a levy on acts as revenues of low cost power producers. that seems quite comprehensive. is it? it's a prett

the new rule is aimed at preparing for crash, a switch to the euro on january 1st. and flyers will also be required to display wages and both currencies. germany will keep 2 of its 3 nuclear plants running. it says they will be kept in reserve over the winter as the country struggles to replace russian energy sources. berlin had planned to exit nuclear power at the end of the year, who was sticking on that topic all over europe. high energy prices are causing problems for people also for entrepreneurs and energy suppliers . now, countries are reacting very differently to the crisis. our correspondence in germany, france, italy, and spain explain how the german government has agreed on its biggest release package yet for citizens and companies facing the pain of soaring energy prices. after tough overnight negotiations on the weekend, the coalition partners decided to help vulnerable groups, including pensioners, students and people receiving social welfare support, as well as energy companies that depend on expensive imported fuel. the $65000000000.00 euro price tag

the court slightly reduced the original fine from over 4.3 billion euros to over 4.1 billion euros. the google. -- watchdog that launch the original complaint says the biggest losers are the users themselves. >> i believe consumers would be better off had they had genuine competition in the search markets. had there been one or two really significant competitors to google, we would have seen a difference in innovative search. >> this is the second eu antitrust case google has lost out of three. the firm could stand to be fined a total of 8 billion euros by regulators. alphabet is worth over $1 trillion. >> the u.s. is facing a possible rail strike on friday. the first in three decades. unions representing freight train conductors and engineers have been locked in a dispute for pay conditions. a federally mandated cooling-off period ends on friday, opening the door for 50,000 workers to go on strike if they choose to. a walk out on freight trains could cripple already strained supply chains and further stoke inflation. freight trains transport about 40% of long-distance trade in the

the euro is just likely weaker. lisa: when you say that, i think about that back-to-school moment we are in. once upon a time, those japanese bond markets, it would be a fiction. christine lagarde at 6:15 am how much can they give some sense of how they look at energy prices? they will be addressing liz truss on this. what is really driving these rate moves in the euro? and how much is tied to the members of the ecb. fed chair jay powell is participating in a moderated conversation with the cato institute, conflicting with christine lagarde. how much can she give insight when the market is pricing at a 75 basis point rate hike later this month? it is the summer of 75 basis points and that is how it feels. australia a little bit on the border there. we are also hearing other feds speak today. it is not just jay powell, although he is the headliner. interestingly, around 2 p.m., we hear from someone we are not hearing from. u.s. treasury secretary janet yellen, who seems to be hiding. we've been talking about gasoline

the electricity bill will increase from 600,000 euros to 2.5 million in 2023 .not pay and i urge other communes to do the same in the budget, a certain amount. and if you choose between meals in the school canteens of the entertainment center and with shields for the light, then i made a release, i will not pay. for electricity, the minister of economy, bruno li, the mayor recently assured that everything is in order in the country with a margin of safety, but that was before the presidential and parliamentary elections, contrary to what predictors say from morning to evening, who cannot think of anything else for their electoral campaigns with the french economy. everything is very good financial conditions have changed. and now, after desperate attempts to crush the russian economy is collapsing, it turns out that the french have a limit and additional spending of 20-25 billion euros on fuel is somehow proposed by some political movements - is it too expensive or other things should be abandoned, because we will soon hit the ceiling of our financial possibilit

they euro is the euro as well. they euro is struggling _ the euro as well. they euro is struggling as _ the euro as well. they euro is struggling as well. _ the euro as well. they euro is struggling as well. you're - struggling as well. you're absolutely right. we are not the only currency having trouble with the dollar — only currency having trouble with the dollar. we do seem to be doing rather_ the dollar. we do seem to be doing rather worse. the dollar. we do seem to be doing ratherworse. it the dollar. we do seem to be doing rather worse. it wasn't so long ago that the _ rather worse. it wasn't so long ago that the pound was worth a dollar 35. that the pound was worth a dollar 5 now— that the pound was worth a dollar 35. now we have hit a low today of a dollar _ 35. now we have hit a low today of a dollar and _ 35. now we have hit a low today of a dollar and 3 — 35. now we have hit a low today of a dollar and 3 cents. so quite clearly there _ dollar and 3 cents. so quite clearly there has— dollar and 3 cents. so quite clearly there has got to be some ki

their costs have recently gone up from $36.00 to more than $200.00 euros per month for making plans of which rooms we can hate. at the moment. i mean, it might be a case of just where blaring up and then of say, having blankets around to keep warm on august 20 sakes, gary, found out how much more his cost of living could go up. that's when the government set a limit for energy providers. previously, they could not charge more than $2300.00 euros per average household. now the limit has been up to 4100 euros. hundreds of thousands of brits don't know how they will be able to pay the difference. many are already depending on food banks to get by is very, very fearful because you're just thinking about how you're going to get the money to keep warm. how you're going to get the money to buy the food, which why is it gonna go through dog or heating? i think it's gonna be very hard for us. yeah. yeah. we try to live like people. the recent crisis has been hardest on the poor natasha and gary waterhouse have been supporting the conservative party. but they are disappointed. we flew up in a si

they euro is struggling _ the euro as well. they euro is struggling as _ the euro as well.e not the only currency having trouble with the doiiar~ — only currency having trouble with the dollar. we do seem to be doing rather— the dollar. we do seem to be doing rather worse. the dollar. we do seem to be doing ratherworse. it the dollar. we do seem to be doing rather worse. it wasn't so long ago that the _ rather worse. it wasn't so long ago that the pound was worth a dollar 35. that the pound was worth a dollar 5 now— that the pound was worth a dollar 35. now we have hit a low today of a dollar _ 35. now we have hit a low today of a dollar and _ 35. now we have hit a low today of a dollar and 3 — 35. now we have hit a low today of a dollar and 3 cents. so quite clearly there _ dollar and 3 cents. so quite clearly there has— dollar and 3 cents. so quite clearly there has got to be some kind of intervention, certainly from the bank— intervention, certainly from the bank of— intervention, certainly from the bank of england to, and the question is when _ bank of england to, and t

survive drought and loss of crops impact on the global economy 13 billion 200 million euros life in the dark partly switched off lighting on the streets in riga vilnius refuses to illuminate shops at night. improve knowledge using modern equipment in the capital medical college opened a laboratory for developing skills. and let's start with the news of the last hour of the sensation did not happen in the uk announced that it will become prime minister in the coming months , the track notes that she has bypassed the votes of her opponent , the country's former finance minister. rishi sunako for the candidacy of the track gave more than we more than 80,000 members of the conservative party. now she works in the government of her majesty as the minister of foreign affairs. truss, even in the most favorable cases for her, will occupy the cabinet on downing street for less than a year in 2023 , parliamentary elections will be held, in which the conservatives are guaranteed to suffer defeat, if it does not happen, the miracle leaf is once again a hawk in foreign policy and a supporter of acti

that means around 6000 euros. the company can sell the aluminum for round 2000 euros. so what are they going to do? think of it, i think there will be declines and production. we're already seeing that i very much hope we can avoid industry coming to a standstill on a large scale with over 2000 years of history. noyce is one of germany's oldest cities today. it's a prosperous industrial city and is particularly affected by the energy crisis. there are 3 large aluminum plants around the city, one of which is already hobbs. its production. fear is sweeping the region perhaps, rightly so. it's not, i mean is that in a situation like this winter where we have a shortage of resources, it makes no sense to keep energy intensive industries artificially and production low in quite simply because energy is extremely scarce. yes. we therefore, it makes sense to do without energy intensive production right now because the energy is needed more urgently elsewhere. indo losers. so shut down everything in the winter for the aluminum industry, this is absurd. the process is expensive

the picture is also one of euro surging. heard from the bundesbank president saying he is expecting more supersized hikes. and news in the ukraine and the fact that it seems to be gaining in the war against russia and that is boosting sentiment. treasury yields steady. that's get straight to the bloomberg first word news. laura: sweden's coalition of right-wing parties looks set to secure a victory. this hinged on the rise of the anti-immigrant party which saw the biggest gains to become the nation's second-largest political force with 95% of the districts counted. opposition block has 175 seats in the 340 nine seat parliament giving them a slender advantage over the rolling social democrats and its allies. ukraine has reported rapid advance. exploiting an extraordinary collapse of russian defenses. unconfirmed reports suggest troops have taken a key count 55 miles from the russian border. russia's defense ministry published a map showing the forces out of that region but without commenting further. japan is reported to be p

that historic i p o values portia at a whopping 75000000000 euros. it's almost as much as its former parent company folks fargo, and the company known for its fast cars is already speeding ahead or correspond ashatash. pandey sent us this from the frankfurt stock exchange. a big question in the run up to this idea was that why now? why is volkswagen looking to bring back portia to the public markets at the time and financial markets are struggling? their economies, on the brink of a recession, inflation is soaring, and central banks are looking to raise interest rates aggressively. it was definitely a board move. volkswagen was banking on the legion of fans for these cars, for decades. god enthusiasts have actually squared by this car company, the car brand, and that's exactly what the fox wagon was banking on and, and as after the i p o it stands vindicated because it did raise 9000000000 dollars, valuing the company at about $75000000000.00 almost at bar with volkswagen itself, which has so many other brands under his umbrella. now that $9000000000

euro is down through parity. we are back at 99. .5% weaker the lowest level the euro has been in the last 20 years. the pound as well at the 1.14 mark we are close to breaking that on the down side. down .30%. the dollar is gaining momentum especially after the jackson hole meeting we have negative news on european currencies today. >>> and we have talked about natural gas and this is how wholesale prices have opened up 13% the dutch ttf. 273 euro per megawatt hour you see this morning, huge shoot upwards 30%. julianna >> what a challenge for european leaders. >>> germany announced a 65 billion euro relief package to help house was flinflation and winter costs it will have a price cap imposed on renewable energy firms. olof scholz says they are making strides over the price of gas which has soared as joumanna outlined finland and sweden are providing $35 billion in guarantees for power companies following a spike in natural gas prices. finland economic affairs minister is likening this situation to the l lehman b

but if er not euros, not dollars, it is obvious that the yuan.arations for the upcoming summit, that in samarkand the idea of ​​​​a possible some kind of common reserve currency , the possibility of coming to pay, is being discussed. uh, all trade within the shanghai organization. uh, with the help of national currencies. eh, this is indeed a serious alternative and a serious challenge. this dollar-euro system is a way out for russia, uh, quite right, in general, this is a meeting of samarkand and this is a triumph for putin , because, after all, he created the sco among those who created the sco, he is the only one that retains his state post. and now, after 2001 , when the sco was created, he can see. eh, the flourishing of this organization, because at first it was not taken seriously, including in moscow, by many statesmen and the press and experts. and so, now look shos. e. the sco includes four nuclear countries, four nuclear powers more than nato. the economic potential of the sco is colossal and based on this economic potential. now you c

the permitted standards of euro-3 and euro-4, which were temporarily allowed there by the governmentause well, in addition, i am not sure about the health of a modern euro-5 euro-6 car after meeting with euro-3 fuel, especially this applies to diesel cars, which are very capricious and very demanding about the quality of fuel and unfortunately, we see that first prohibited checks of the state e-e and quality and tax reporting and so on. and unfortunately , this whole situation is, er, we already experienced this in 14-15 years, when the war also began , er, the authorities were focused on other issues, and there were also these populist decisions regarding exemption from inspections and this gave a very tangible and very powerful impetus to the shadow market, that is, taking advantage of the fact that no one controls, no one checks, it led to the fact that in kyiv alone there were 300 illegal gas filling points and remote ones, while there were only 200 legal points. well, then i i want to tell you that we see almost exactly the same mr. serhiy, i want to say that usually at such gas

this could go up to 500, 600 euros per month.he government has started to move against that, there will be subsidies to households of around 300 euros, so that's not going to really help it, and there will also be supports for the energy prices. overall the pressure on household finances, there is likely to be a recession in germany and households will have to curb their spending on other goods. so it's rather bleak, i would say, we are in for a recession in germany. manus: that's pretty bleak, does that disavow the possibility of 75 basis points from the ecb? >> actually, i don't think so. whether they raise the rates by 50 basis points or 75 basis points, from the speech given at the jackson hole summit, it also has to do with some very high-level military surprises here. it's a tenfold increase from before the ukraine war started. that's had a big impact on inflation rates in your area. we actually inspect -- expect inflation your area to rise to 11% and to peak at around 12% in germany in the winter. this is a dramatic increa

time france, germany, euro area and u.s.. kwasi kwarteng is likely to announce a cut to national insurance contributions and scrap a cut to corporation tax. and chair powell is scheduled to speak at an fed listens event at 7:00 p.m. u.k. time. it is every nation for itself as the almighty greenback batters global currencies. we will speak with parisha saimbi from bnp paribas. and more on the u.k. mini-budget later on the show. ♪ >> i think it's giving a signal but they are uncomfortable with how quickly things are moving with this intervention with huge moves in yen but i don't think this is going to be effective. >> the reason for that is every central bank is competing with every other to bring inflation down quickly. >> the bank of japan and ministry of finance is actually fueling liquidity in the market, and as a speculator i am bleeding today, but i will take back all those positions and i personally think 155-160 is still on the cards. dani: bloomberg tv guests speaking about japan intervening to support the yen. let's

in five euro of finnish tourism income.is not in vain near its most popular product in the store in finnish it's suckers. they wrote salmon in russian. now let them write only in finnish fuckers. lisa girson. boris khalfin irina chernyshova and vladimir vyplitsky broadcasting company tv authorities of montenegro declared six russian diplomats persona non grata local foreign ministry decided to expel them from the country the department said that the mission staff allegedly violated the vienna convention on diplomatic relations. what exactly they are accused of by the authorities of montenegro did not specify and for the action in the selection in the russian embassy for an indefinite period closed consular offices. for all questions, compatriots were advised to contact the diplomatic missions in neighboring countries. in our video, they said that moscow will respond to the exhibition of employees. at the beginning of this year, montenegro has been declaring russian diplomats persona non grata for the fourth time. a new gas

now the limit has been up to 4000. $100.00 euro's hundreds of thousands of brits don't know how they will be able to pay the difference. many already, depending on food banks to get by is very, very fearful because you're just thinking about how you're going to get the money to keep warm. how you going to get the money to buy the food? which way is it gonna go through dog or heating? i think is gonna be very hard for us. yeah. yeah. we try to live like people. the recent crisis has been hardest on the poor natasha and gary waterhouse have been supporting the conservative party. but they are disappointed. we flew up to a sinking abandon ship her. there's nobody at the home steering has in the, in the right direction, the squabbling monks themselves, and they're not focusing on the true thing. that's the voters, the people of his country. people like natasha and gary who are unsure how to get through the coming winter. ringback ringback and for more on this, we spoke to analyst, susanna streeter asking her whether the on at higher energy costs mean consumers are holding on to their cas

the electricity bill will increase from 600,000 euros to 2.5 million in 2023 .ay and i urge other communes to do the same budgeted, certain amounts. and if you choose between food in the school canteens the work of the entertainment center and with billboards for the light then i made a throwout and i will not pay. electricity minister of economics, bruno li, the mayor recently assured that everything is in order in the country with a margin of safety, but that was before the presidential and parliamentary elections, contrary to what predictors say from morning to evening, who cannot think of anything else for their election campaign with the french economy. everything is very good financial conditions have changed. and now after desperate attempts to crush the russian economy is collapsing, it turns out that the french one has a limit of possibility and some political movements somehow suggest additional expenses of 20-25 billion euros for fuel - is it too expensive or we need to give up other things, because we will soon hit the ceiling of our financial possib

what impact will that have on the euro. big reason why a moderately on the side of 75 basis points. i think 50 would be a different point for the market. moderately leans toward 75 basis points. if if basis point hike would be a dovish surprise, a small dovish surprise. and that would cause the euro to tumble further. alix: what does the press conference look like if they go 75? do you think they will double down on the hawks? megan: i think it will end up being a more dovish fed conference but what i'm looking for is two things. where christine lagarde sees the long run rate relative neutral rate. how much they expect to have to tighten and be in restrictive territory to bring inflation down. we may not get a sense of that given dave been clear they are not looking too far ahead. secondly i would be interested to see what their conversation is around quantitative tightening. there's not much chatter about that in the euro zone and there is a question of whether there should be quantitative tightening given dave -- given th

the dollar a whole lot weaker against the euro and u.s. sterling. euro-dollar 1.0138.charles iii touching down in edinburgh, making way for the god of -- guard of honor. an hour later, something deeply emotional to witness, tom, an hour later, the king will be behind the queen's coffin, from the holyhoodhouse. tom: what we saw over the weekend was the queen's coffin into edinburg, but i would suggest all the symbolism of the moment begins with i believe a meeting of the resurgence of the scottish parliament, which is just across, and we hope to bring that to you. jonathan: equity is firmer, tom, yields pretty stable, and a dollar a holdout weaker. tom: ubs, fx, microstrategy, as we try to frame the picture of where we are. the symbolism we see in pound sterling, if we move beyond the period of mourning, king charles iii, his domain, what are the challenges that can move? >> the domestic political challenges are pretty clear, and i think they have been largely outlined by the bank of england, and some of their recent communications. really the risk of a deep downturn, i

he lived in the house and paid 400 euros for electricity in august of this already 1.300.or 12 months. a total bill of more than 15,000 euros is advised for those who live in apartments to save from seven to 10,000 euros for that that not many bankrupts could pay a thousand before, of course, this is not a crisis caused by putin, but the crisis that europe brought upon itself by abandoning its own energy production, according to belgian economists. about 60% of the inhabitants of the kingdom will find themselves in a difficult situation. of these, 40 are below the poverty line. i dealt with stock exchange in 2008. i tested. in my own skin and i now have an almost animal physical fear the same as 14 years ago, when i see that this crisis is now happening much more seriously. than covid will civil acts disobedience and many enterprises will go bankrupt suppliers use various tricks to hide the real inflation, or simply raise the price sharply. and then the buyers refuse to fill the shelves with such goods, or they put less inside the packaging. this also applies to chips and

businesses are the biggest investors in taiwan, 45 billion euros.ean business will take 90% of the top end shifts that come from taiwan, so it is essential for us to keep mitigating to the chinese government that it needs a change of being less aggressive and being more focused on the good old virtues they have had in place for so many years. dani: have your members been preparing themselves for further u.s. and europe sanctions on china? what do those operations look like? joerg: have to do your homework because if you get caught, it is going to be costly. in many ways, one is where there is a portfolio that is canceled with the sanctions, but also we can see a divergence of the situation right now of machine builders from europe to produce american-style. meaning there is note chinese influence -- no chinese influence there. and we have a product that has no american portfolio, so many of these companies are small. they have to make three different products, one for china, one for america, and the rest of the world. it is very complex. they might

the company has already soaked up a government rescue package worth close to 20000000000 euros. but now the diesel off based gas importer needs more help. in july berlin offered a rescue package which included buying a 30 percent stake. i'm diving by unity per now. chancellor will have sholtes, as government is poised to increase at stake above 50 percent, giving the government a controlling interest. full nationalization is also under discussion, but for that to happen, universe finish parent company for t. m. majority owned by the finished government would have to give its approval. finland recently announced its own multi 1000000000 euro energy sector, bailout b. my gun and soccer you had on last month. you know, the recent strong price fluctuations in the electricity derivatives market mean the government has to take quick measures to ensure market stability while yahoo and on welt on it. while the annette was to lay adelaide, the government's economic policy ministerial committee has advocated for a 10000000 euro stability package for companies producing electricity and fin

also coming up, ukraine sends bits, prime minister to berlin, as germany announces a 200000000 euro aid package to help those in ukraine, displaced by the war. and in formula, one dutchman, max for stopping winds his home graham pre for a 2nd straight ear. ah hello, i'm terry martin. thanks for joining us. in chilly voters overwhelmingly rejected a progressive new constitution and a referendum to proposed constitution was aimed at boosting the rights of indigenous people and women. it would have replaced the one adopted during the piano, shay era? chili's current president has bowed to press ahead with efforts to overhaul it, or then 60 percent voted no to this re right. oh ah, victory said the no. can. she lay in voters rejected the proposed new constitution by a far wider margin than poles predicted. they said no to what would have been one of the most progressive constitutions in the world with a focus on social welfare, gender equality, environmental protection, and indigenous rights. l rule for ragman, it is a really surprising triumph. and that means chile is a country that reject

oh, that's 5,000 euros. i never saw that. yes yes, yes, i'm listening.s is not moscow local the writers haven't screwed up yet. they never saw that kind of money. consider their salary for two years. yes, i understand. will be done. yes, i specifically drove up to catch you. petlyakov came to see me yesterday and told me about your trip to the morgue. so what? there are no results of the examination yet, but not only. but i have collected here for you something on the activities of pavlovsky, everything that we had, by the way, in our city operates through tv bank, this is one of the subsidiaries of his holding, but we have just the one the moment when they started to buy up, the taxis of this one, they are just right for me yesterday a series of articles was ordered and a lot of money was paid off, well, 5,000 euros in advance and 10,000 at the end of the work. nehilo kir i hope you understand that this kind of money just does not pay. yes, in general, it looks like a bribe. for what? okay, you think you only got to decide about one thing. be careful. c

yes, in fact, the law was adopted. 100 euros per thousand liters of gasoline, diesel, and 52 euros per liters of liquefied gas. on average, it is one and a half times less than it was before the war, the tax burden will now be about 7-8% of the final sales price. i believe that this is very little , for example, for comparison, before the war in 2020-21 , the tax burden per liter was set to 50% in separate periods when, for example, in the 20th year due to covid-19 and if you remember, oil prices fell to 15 dollars per barrel and, accordingly, the cost of petroleum products decreased , but the tax component remained stable, and accordingly its share in the price has greatly increased , that is, now the tax burden is small, as far as 20% is concerned. i believe that it is a very correct decision not to return the full rate of vat because it is the most likely criminalized tax and all the abuses we had in the fuel market before wars, they were mainly related to vat, e.e., this and the trade of cashless checks, and fictitious sales of fuel in order to reduce the tax burden on companies in

euro-dollar is slightly softer.t has been a story of euro that has been able to post backup above parity. perhaps it has to do with european energy prices falling for three consecutive days about 60%. finally, bitcoin, what a bruising session. at one point it was down 6%. it is now trading above $19,000. really would not see the volatility by looking at the headline price but it is a sign of a market under stress, that is volatile the head of these central bank earnings. let's check in on how the asian markets are faring. here's juliette saly. what are you looking at? juliette: it is all about the reopening trade in hong kong. chief executive john lee and officials are close to coming to an agreement to end hotel quarantine and instead insulate a seven-day mandatory at home monetary system. this is the reopening play if you look at the likes of cathay pacific. many of us waiting to get back into hong kong. all rallying and outperformed what you have seen in the broader hang seng index over 2022. this is the greenlin

so instead of the usual 2.000 euros. he is required to pay 51,000 telephones at the power company's office. no one picks up emails or answers. the baker of difficulties - he went crazy or the energy specialists went crazy. germans and other western europeans on the sea coast are trying to escape from such a disaster to turkey, they are offered the so-called winter tour packages for a room for a month without meals in a five-star hotel, which will cost 700-800 euros. it is known that the demand for winter tours to turkey has grown one and a half times. however, this is not a solution to the problem due to the absence of the owner of the garage. we have to to pay at least a minimum communal apartment, and for an ordinary european it will be completely unbearable in winter. there is a coal hunt in poland . it has almost disappeared from sale, and where it can be found it costs almost 1,000 euros per ton, the authorities say that they have concluded contracts with suppliers and there will be enough coal in any cold. true, qu

and educational day of the belarusian literature was delivered to dobrush by the holy fire of the euro, as the currency came to an end, record gas prices and a foreign trade deficit bring the economy, the eurozone to the default of popular indignation. increasingly, the macron breaks out in the once prosperous european countries, slogans are shouted out in resignation, protesters in paris the heat has gone, but there is almost no rain, and it is still very dry in belarus, an emergency fire danger has been declared. belarus celebrates today holiday writing day. this year it takes place on the famous gomel family, in a hospitable dobrush, the president congratulated the participants and guests of the celebrations. vitaya svyato became the accompaniment of the folk symbol of the eleventh slavs of the mind of the union of spiritual kashtovnosti yakiya in order to improve the memory of the proto. e about their high wide-love native land and shake the postings of the minovet of writing. i think these feathers have passed and she will save shiyak for evelik shikarp. belarusians have the consc

she says it will save her around $80.00 to $90.00 euros a month. i was out a bit of money and i would like it to be permanent because it would make things less expensive and we can move around more. what good, what if anything that benefits citizens is good. of course, in terms of the economic and political situation, it helps for us. it's a huge benefit and we're thankful for that is when get on, man, if you're almost half a 1000000 people have already pre ordered the free transport cards and state own railway operate ran for expects the scheme which runs until year end to result in $75000000.00 free railway journeys. it will cost $221000000.00 euros. and as part of the latest aid package to mitigate price rises. now to some of the other global business stories making news. germany is planning to lisa 5th, liquefied natural gas terminal. the floating storage and re gas if occasion facility will be located in finance hoffman. it will be able to process 5000000000 cubic meters of ellen g per year and will be ready for youth in the winter of 2023 . d

ah, ah, berlin bite the bullet and announces a cap on gas prices to the tune of $200000000000.00 euros. but canada new measures help german households and businesses get through a difficult winter. all signs point to recession. also on our show portion, big they view doesn't disappoint. we'll look at how high share price is raised for the companies. i. p. o. and volkswagen response, the brazilian prosecutors in their investigation of a legit slave labor at a former carol ranch and the amazon loan. welcome to the show. i'm seeing busy in berlin. the german government has responded to growing pressure over rising energy costs with a $200000000000.00 euro plan to cap gas prices until 2024. chancellor, olaf sholtes said a commission of experts will determine the exact price. ceiling is government is now throwing out. it's heavily criticized plant, the tax gas customers per kilowatt hour. berlin has struggle to find the right way to distribute the hire market costs faced by gas utilities. without overwhelming gas consumers, energy costs have driven german inflation in september to 10 percen