but also in europe. they have been through margin expansion in the retail services sector and that's not really china contingent, it's more of consumer spending and supply. central banks everywhere will take everything they can get. china gives them a little room to move but it will not be the heart of the disinflation story over the next year. here, we are still dealing with the energy inflation shock. we still got some really big problems. jonathan: let's talk about u.k. labor, how bad will things get in the u.k. and across europe for that matter? >> the ecb will still hike because of the german influence on the anti-inflation story is intense. the u.k. is different and there's a reasonable chance that inflation can be averted but only if the new prime minister is just takes some more drastic action to bail out households. it's the forecast right now and i could be wrong. the u.k. could enter into recession by later this year but the politics is looking more aggressive and the effect it's having on hou

now they're not going to talk to anybody in europe because there's nobody worth talking to europe any more about it. it shows the lack of leadership there. they shed at any kind of responsibility that their citizens will go after them. sergeant schultz won't be there for much longer guaranteed. go ahead and washington abortion. well, the russians have tried negotiating with the european twice already when it comes to ukraine. date it was, there was the to 2014 january, 2014 power sharing agreement that was supposed to peacefully end the my don color revolution and the us backed and coordinated ukrainian. nationalists simply ignored it and took power by force. and then those very same nationalist when they tried to crush the rebellion in donnie, it's going to gone skin crimea by force and were defeated. then again turned to france and germany to broker a ceasefire. and that was the minced protocols. disease fire, which again they proceeded to completely ignore it. and what did the us do it sabotage these things that every step and the french and germans just went along with it and you

europe or china? >> in the last few months you've seen european buyers -- if you go back to preinvasion you saw a record pricing in november and december 2021 and you see a lot -- that does not mean that will be the case this winter. ultimately some of these issues will be political. at this point europe is the front runner for these problems by importing record amounts of lng in the last six months. kailey: speaking of the politics of energy come in germany there were plenty to phase out nuclear power by the end of this year and now you have the chancellor talking about how they might need to keep those plants running to have those energy sources given the constraints they are facing on the natural gas side. how much can nuclear be a backstop? >> nuclear can be weather dependent. it has been extremely hot. nuclear provides reliable power but it is not the answer. the fundamental problem with europe is the entire system is meant to take a lot of pipeline from the east and not the other way around. kai

at one time, sylvia was also shunned in europe. it was bombed on the says, who had dubbed outcomes today, fraternity between russia and serbia is being poisoned. sam's being forced to join european sanctions. however, so far without success. what we could say, a politician, they say one thing. they do another and they think 3rd. so i still hope that our president is moving in between these 3 elements. thinking, doing, saying, i still believe that he will find the space not to put sanctions because the sanctions are symbolic, easily put sanctions in russia. we spit on our past and know our history and on our christian believes which are leading us to the last bombardment that happened in 1999. this is cnn. wait, you knew. we must act now and call out close it. on the loss of nato, began a massive air bombing campaign. we will provide that knockout blow, military action, fail, gung ho bomb bomb bomb it is attacked. a sovereign state waves of planes are taking off native cruise missiles, land in serbia. it will all start again tomorro

but it's not something that europe can't adapt to. so a lot of european countries have already ramped up cold production. and it seems also that nuclear production may come back on the line in germany or discussion. surfers been pretty pessimistic. relevant. is there anything positive to say right now about the euro's own economy? tourism is expanding at breakneck speed. it, of course, took a large hit during the pandemic and now it's on a tear. so if tourism wasn't rebounding, it to the extent that it was now, we probably see a much deeper recession in the years own in the coming to quarters than we currently expect. mentally, there are concerns about how higher borrowing costs are gonna affect indebted nations. that's something i want to talk to you about a little more in just a moment. stay with us. we'll italy is among both countries. it has the 2nd highest debt burden in euro's own, and raising interest rates too quickly could high capitalize debt and make it harder for it to pay. it comes to the country faces political uncertain

the countdown is on in europe. this is "bloomberg markets: european close" with guy johnson and alix steel. guy: 30 minutes until the close. markets in europe, equities bid but only just, banks are up. energy acting is a significant anchor. china data a huge factor. brent lower. the euro is also getting ground. we are up around .5% in seen significant gains in the pound. thursday the bank of england decision, the market expecting 50 basis points from andrew bailey. the other story is the italian 10 year. we are seeing spreads compressing. yields nominally coming lower. the ecb delighted about that. kailey: and we are just looking to see what moves the ecb needs to make in september, which is next month. it is already august. i cannot believe we are here already. we are coming off in july that was the best for the u.s. equities since november 2020. we have seen fluctuation throughout the session but at the moment the s&p 500 is in positive territory to the tune of .3%. in the bond market we seal yields moving lower.

. >> the countdown is on in europe. this is bloomberg markets: european close with guy johnson and alix steel. guy: a little bit of bullishness in european equity. i don't how much of a price signal there really is there. let's talk about euro-dollar. 99.8 is where we are trading now. the -- toggle euro-dollar .998 is where we are trading right now. a lot of people arguing it's all about price and what's happening in the power markets. this is one year ahead power prices, a look at that number. we are 900, your eyes hurts just looking at this. 10 times where we were a year ago. europe is in real trouble. we are up a 14% today. basically saying it will not be able to put out as much powers of thought going into the winter. that's another big problem with europe. kailey: it is so striking data to look at that $900 figure next equity markets gaining in europe on the day. we are also gaining on the day in the u.s.. so volume is lighter than usual. waiting for chairman powell speech at jackson hole. a real gain led by techno

or europe. that is one example where they have -- clearly in the currency markets as well and given the importance of export activity for them, they have the ability to maneuver their currency to support key sectors of their economy. in the use the regulatory switch rather aggressively too. they have the ability to support domestic exporters at the expense of other players. i think they do it more frequently, which in my opinion means they are more likely to intervene and support growth and other priorities. jonathan: good to catch up. mark howard of bnp paribas. brammo, that is an important dynamic in china. if they face some form of liquidity trap, not allowing things to happen -- it may be out of their control. lisa: especially miller yesterday was saying they have not put that much stimulus into the market. jonathan: we will build on some of this conversation around china. we will catch up with tina fordham in just a moment. futures up .2% on the s&p. this is bloomberg. ritika: keeping you u

it's been a, it's been a high wafer invaders traveling from central europe, central asia, into europe and vice versa. and so there's no stability there. there's really no state there. there's no, they're there. and it's divided between the russian speaking east and south, and the, and the, the ukrainian speaking west around the city of laval. and that is indeed the center of a very nasty, ultra right form of national. and it's just hard to imagine a viable state arising out of that. it's been a battle zone for years and likely will continue to be a battle down for years. and the u. s. empire sort of thrust itself into the middle of this kind of nether world. yeah, and that's gonna stand the same way. i mean, ask dana stands the border zone as well. always has always been on governor governor both. it's not so much a nation as a place where the other nations and, and the u. s. thrust itself into that completely thoughtlessly. and after 20 years of ended in disaster and something tells me the same thing is going to occur the grant. i absolutely agree with you allots one of the, one of t

now they're not going to talk to anybody in europe because there's nobody worth talking to europe anymore about it. it shows the lack of leadership there. they shed at any kind of responsibility that their citizens will go after them. sergeant schultz won't be there for much longer guaranteed. go ahead and washington abortion. well, the russians have tried negotiating with the european twice already when it comes to ukraine. date it was, there was the 2014 january 2014 power sharing agreement that was supposed to peacefully end them. i don color revolution and the us backed and coordinated ukrainian. nationalists simply ignored it and took power by force. and then those very same nationalist when they try to crush the rebellion. in dawn you can build on skin premier by force and were defeated. then again, turn to france and germany to broker a ceasefire. and that was the infamous minced protocols. ringback disease fire, which again they proceed to completely ignore it. and what did the us do it sabotage these things that every step and the french and germans just went along with it and yo

. russians can live a normal life travel in europe, be tourists. it is not right. stop they shoot to receive as to russians. visit in europe is a privilege, not the human rights are true from russia, shut down. it means washing and controversy should. these is neighbors to russia carried the belgian time to an tourist from russia. now the most important sanctions of the close, the board is because the russians are taking away some one else's land. the new coal. com as russians already face a host of travel restrictions after the conflict in ukraine started the e. u. shut his ass base to russian plains and possibly hold to the mechanism which short term shank and visas were issued, basically making it harder for russian officials and entrepreneurs to visit the region. 7 you nations had tightened the entry rules for russians and suspended the issuance of the european pass. and i made colds were converting this to an outright traveled ban the e u commission to rule the possibility out. citing the law of the land. political analysts or anthony webber r

, western europe could be impacted as well. if you crane continues this highly irresponsible behavior. well, for weeks, russia has been calling for the international atomic energy agency to come and visit the power plant. but the i. e. h chiefs stated that the last un security council meeting that quote, there is no immediate threat to the nuclear plant. now, while the u. s representative put the blame fully on russia and demanded a full withdraw russian troops who actually secured the plot and march and helping guarding it. ever since the cause of the situation that is if reaching facility is not a mystery. it is another tragic result of the russian federation decision to further invade. it's sovereign neighbor, ukraine, russia alone created risks, and it can eliminate those risks now by withdrawing from ukraine. so turning a blind eye to why the conflict in the ukraine stop, it is just covering up the west real intentions. now that's according to former us senator richard black. right now, there are such enormous force from t

. >> the countdown is on in europe. this is bloomberg markets: european close with guy johnson and alix steel. guy: the european map is green it, in reality it isn't. this story is all about heat. it's all about too much heat, how hot can it get any europe? that story will develop. it feels like we are in a hiatus. we are waiting for the date it to come through. we are waiting for news that they will close for traffic. we've got every single sector in positive territory. even the euro is catching a bit. despite the problems in italy, the downgrade could be coming for italy. both on the economic front and the global front, we will see s&p do that. we've got that story continuing it to develop. we've got the euro-dollar this big. this is about what is happening with energy costs in europe. this continues to track higher day by day. you are already seeing demand in europe. prices have dipped a little bit today. the cost of energy is up fourfold. that is going to have an industrial effect in europe. >> that is a structural

what is happening in europe right now? yes, thank you. and that was there. i am, i have been doing in the last when years of may get here. what is happening now is basically that the utah fees are facing $1.00 of their worst drought. also combine, we, the sequence of waves started quite early, non duty god during the summer feeding. how could the, sorry, contingent let it be a combination of the 2 lamb at extremes, the ease the impacts of a beautiful how would things here in europe look in a decade from now? do you think is no mediation strategies? effective mitigation strategies will be put in place that n a projection to show how are these are this kind of extremes and become a ready meet century, the new norm. i mean that, that they are projected to occur almost every year. of course, this is not going to happen in the coming 10 years, but of course we are going to see something called eat and that we did long term a tendency that these projected by clement model simulation. so we, all, europeans rather complain a lot about problems that have long been pr

central europe, on the countries are dependent on the economy. all right, well we have run out of time. we're going to have to leave the conversation there. thanks so much. all of our guests or rick bruckner, nick sitter and who bear to sport. and thank you for watching. you can see the program again any time visiting our website of 0 dot com. and for further discussion, go to our facebook page, that's facebook dot com, forward slash ha inside story. you can also join the conversation on twitter. handle is at e. j inside story from him, how much i'm human, the whole team here, bye for now. on kindly with costs, rivers drawing up and crops parched could drought, worse than europe's cost of living. crisis wants delaying the global recovery in youth employment plus can the tale bomb fix? i've got his dad's economic crisis a year after they took power. counting the cost on al jazeera. ah ok. it, it is like god. because you creating, shunning a career and building full glory. yes. mean, laurie shifts her attention to the design district and regions of

it's been a, it's been a high wafer invaders traveling from central europe, central asia, into europe and vice versa. and so there's no stability there. there's really no state there. there's no, they're there. and it's divided between the russian speaking east and south, and the, and the, the ukrainian speaking west around the city of the above. and that is indeed the center of a very nasty, ultra right form of national. and it's just hard to imagine a viable state arising out of that. it's been a battle zone for years and likely will continue to be a battle down for years. and the u. s. empire sort of thrust themselves into the middle of this kind of nether world. you know, and that's gonna stand the same way. i mean, afghan stands the border zone as well. always, it has always been on governor governor both. it's not so much a nation as a place where the other nations and, and the u. s. thrust itself into that completely thoughtlessly. and after 20 years of ended in disaster and something tells me the same thing, it's going to occur the grant. i absolutely agree with you, you know,

the countdown is on in europe. this is bloomberg markets, european close with guy johnson and alix steel. ♪ guy: 30 minutes to close in europe. the energy market is doing well, energy stocks arriving quite nicely today in europe. the norwegians are having a good day. health care sector is -- has a certain drag on the market, astrazeneca, the euro is up but the dollar is down. after that week pmi data we got on the services aside from the states, we are still below parity, which is worth bearing in mind. the story we are so focused on in europe, what is happening with gas prices. big move yesterday, the trajectory continues to be more elevated. that is europe's big problem. kailey: we saw -- thought europe's problems were bigger than in the u.s., our pmi data very weak. you mentioned that composite number coming in the lowest number since may 2020, second straight month of contraction. it looked like we would be resilient in the face of that, s&p rose .5%. we have given back that game, down .1% on the s&p 500. the

here is what europe looks like tonight. because this long, hot summer gives way to what officials worry could be a bitterly cold winter. skyrocketing energy prices have put europe -- what is described as a hybrid war. russia uses resources uses resources "like it does food." food prices have doubled, coal prices have quadrupled, and natural gas, now seven times more expensive than last year. >> turns out if you don't have cheap natural gas, you can't run the continent. having a graduate degree in the beginning of a city in the united states come he might have been shocked by this, but fossil fuels were on their way out any day now! he met a floppy because our own -- you might have thought that because our own leaders have told us that for decades, that the future is here! as recently as eczema -- as recently as next month, the world economic forum says -- $1 trillion in economic costs by switzerland's renewal, but this might not shock you. they had no clue what they were talking about. they knew nothing about the subject, s

there are countries in europe, one particular europe who doesn't subscribe to these a find values. oh, who doesn't see that? the way to resolve the problems in don't my, on the, in the don't but is to apply the european convention on the production of minorities, but which has launched an unprovoked invasion. and i'm afraid that to defend ourselves against the revision is aggressive. vision is part is with counter power and, and, and germany has not fully absorbed his lesson. let's talk for a moment about the, the russian economy. the west has made huge sacrifices. we know to hit moscow with what they call punitive sanctions. how concern though, are you that the. a effect of those sanctions now seems to be waning. the ruble is now 30 percent above its pre invasion level and is the world's best performing currency this year. that's not exactly what the west hope for is it? no. and then we know the reason for that, namely that we have to buying the russian carbohydrate and we need to, we need to, we not cells away from them. we need to diversify. if saudi arabia stop pumping oil, the

and given the obvious concerns at the moment in europe, as well as in other areas, in europe specifically around gas supplies, that is probably going to continue. one thing i would say is that europe has its fair share of quality strong balance sheet companies, and they have been outperforming in the european market quite strongly. peter -- lisa: peter, given that you do see a more dire picture in europe and the u.s., i was looking at your gp calls, and you see europe doing better than expected, at a than the consensus. and you see the u.s. economy doing worsening consensus. do you think it is time to buy into the european story because have been beaten up so much, because the consensus has been too bearish, in your view? peter: i think we do see a recession in europe. a relatively modest one. there are support and -- important supports that are worth emphasizing. private-sector balance sheets are quite strong. households have accumulated lots of savings. that has been true in the u.s., but they have been run down more quickly. those things don't prevent a recession, but they may moderate

and this united europe was born as a peace project with in urine ducklings was. it's objective lot was to ensure they would never again be war between its member states. even today, it is up to us and to continue to develop this promise act piece by enabling the european union to safeguard it. security its independence, and it stability from host also in the face of challenges from without the lessons of garbo robbers. madame on ladies and gentlemen, as europe's new pieces, mission was worthy mice and all that is the rights of robbery. mosul shall invest members of the public expect if you are a bosa west anti mister far content. luckily, here it is so far a stroke of good fortune that the presidency of the council of the european is currently being held by the check republic, which is a country which has long since acknowledged the importance of this mission and is steering europe in the right direction wonderful, go check yas, germany's full support for this and i'm looking forward to working together with prime minister fiala pearson to find the right to europ

no, it varies across europe. we see that in spain and portugal in italy, agriculture is in huge trouble. we see that in france, energy production is in trouble because it needs water from the rivers for cooling . and it can take enough to produce energy. in germany, we see actually the shipping in the u. k. recei groundwater levels falling. so it's all across europe and depending on where water is used most in different countries, we see the problem areas occur. so how long do you see this out? so go on. well, it will ask to be longer. we will have those thunderstorms and small periods of rain, but that is not going to be enough to wet enough to soil so that it can even receive freely the water that the soil needs and that the ground water needs. and we probably are into september when at least the forecast at the moment suggest that it might become more normal conditions again. and then we will look for prolonged periods of rain to recover the system. now, what is the role of climate change in the extreme dr. ho

by 2030 europe. this obviously they need to be backed up by a set of policies to finance investments renewables. locate the integration the grids and to do all the things around our energy systems to allow for that faster shift. and i think if you look across your piece ministries and in brussels, everyone has been working throughout the summer to kind of help to make this regulatory framework fixed up to this school to get your insight and your thoughts as well. professor cast no have joining us from bell and thanks very much for your time. thank you very much. the. the high prices are suit, housing, and energy, and let incomes overstretched pulling suggest millions of americans. angry about the rising cost of living. president joe biden has said, taming inflation is top priority, and he signed into law a sweeping $750000000000.00 tax healthcare and energy bill, which ends to lower prices and tackled global warming is a major victory for the president and the democratic party ahead of mid term elect

quite countdown is on in europe. this is bloomberg markets "european close," with guy johnson and alix steel. guy: 30 minutes until the close. this is what prices look like. european equities are hanging in there. energy doing well. oil prices are higher, but we are seeing a significant hit in the health care sector. there are fundamental reasons for it. we will talk about gsk. that is what is happening there. the crew price is where you want to focus your attention. crude beginning to roll back a little higher. 98.54 is where we are tracking right now. i talked to damien courvalin from goldman sachs. fascinating where he sees u.s. gas prices going. then the story in europe from an energy point of view is this. french power prices -- this is one your head -- worth of six kilowatts an hour. there is talk of them going significantly higher than that in winter. these are records that are being toppled on a daily basis, and this is going to have a meaningful impact consumer confidence, and a meaningful impact on industry

. >> the countdown is on in europe. this is bloomberg markets: european close, with guy johnson and alix steel. guy: 30 minutes till the close, this is how indices look europe, up by .3. we are watching what is happening in the u.s. we are getting a lift. take a look at the demand side, there is no coincidence the european tech stocks are leading the charge in europe. the u.k. 10 year ahead of the bank of england, we are certainly seeing a move higher in yields, watching prices under a little pressure, so we are down. we are watching the bank of england tomorrow. are we going to get 50 basis points? probably the move driven out of the space we are watching carefully. obviously, the reaction post what happened over with the ism data coming through are similar to what we saw yesterday. probably one of the most interesting story out of europe right now, what is happening with our prices? what is happening with the rhine river and other europe rivers? the drought is calling rivers to come down and france said it has caused

europe going sideways today. this is bloomberg. ♪ millions have made the switch from the big three to xfinity mobile. that means millions are saving hundreds a year on their wireless bill. and all of those millions are on the nation's most reliable 5g network, with the carrier rated #1 in customer satisfaction. that's a whole lot of happy campers out there. and it's never too late to join them. get unlimited data with 5g included for just $30 a line per month when you get 4 lines. switch to xfinity mobile today. guy: you opinion equities feel -- finishing the day higher. the dax is of higher 1% today. some single stock names we are focusing on. that is a picture we are watching. generally positive. this is how the session is developing. let me show you how the economy is looking like throughout the day then we will talk about what is happening in europe. seeing more of a fade over in the united states. it seems to be stabilizing a little right now. that is largely because of the influence --. high rates for equ

today and the poor planning and if it is europe or the u.s. or the west in general, we've all been moving forward a much greener future from the energy side. the problem is it seems like the powers that be had been taking policy advice from small ngos and teenagers talking about the need to reduce carbon emissions in the world and not putting together a comprehensive science based, math based approach to energy transition. i think the question you set me up for is is there a problem on the horizon in europe? i just spoke with a good friend who is in germany who is in the u.s. armed forces who told me their average monthly power bill has gone from 150 euro a month to 800 euro a month at the last bill as you know, those people don't make that much money when you have a power bill moving almost 600% within a year, and power bill has doubled in the last three months, but they're up price per mega watt hour is up more than 14 times in europe i think they have a problem. imagine whatever your monthly bill is for electricity or power, imagine multipl

, western europe could be impacted as well. if you crane continues this highly irresponsible behavior for weeks. now russia has been calling for the international atomic energy agency to visit the power plant. but as had told the last un security council meeting that quote, there is no immediate threat to the nuclear plant. now, the u. s. representative that the blame for the situation at the plant foley on russia and demanded a full withdraw. a russian troops. moscow though, claims its keeping the site secure. the cause of the situation at the zip reach, a facility is not a mystery. it is another tragic result of the russian federation decision to further invade its sovereign neighbor ukraine. russia alone created risks. it could eliminate those risk now by withdrawing from ukraine. turning am wind, i to why the conflict and ukraine started is just covering up the west real intentions. that's the claim of former us senator richard black. right now, there are such enormous force from the west, from the us, from nato, from the u

she sees europe is more than being geographically close to the west to her europe is the future and she's made it her life's mission to fight for it. i think that georgia deserves to be a proud member off you opin union, but i know that there are a lot of problems today, and that's why i'm also doing my best and just leaving for these changes. ah marian, pico, chatty, says, one of the problems is george's neighbor, russia. she took us to an area where the issue is quite apparent at the border with a partially recognized separatist republic of south or city. most of the international community views the territory and the caucasus mountains as part of georgia. it proclaimed independence 30 years ago, but heavily relies on russian aid russian money control south of santia. the russian military is stationed there. and after russia's attack on ukraine, georgians fear they may be next with it took 2 and a half hours to reach the destination. the village of continuity lies right on the border with south of santia. and the people complain the border here changes constantly. they say russian soldi

she sees europe is more than being geographically close to the west to her europe is the future and she's made it her life's mission to fight for it. i think that julia deserves to be a proud member off you up in union bad. i know that there are a lot of problems to day and that's why i'm also doing my best and just leaving for these changes. ah, marian cake, who chatty says, one of the problems is george's neighbor, russia. she took us to an area where the issue was quite apparent at the border with a partially recognized separatist republic of south or city. most of the international community views the territory in the caucasus mountains as part of georgia. it proclaimed independence 30 years ago, but heavily relies on russian aid russian money control south of santia. the russian military is stationed there. and after russia's attack on ukraine, georgians fear they may be next. when it took 2 and a half hours to reach the destination, the village of continuity lies right on the border with south of santia. and the people complain the border here change is constantly. they say russian

. >> the countdown is on europe. this is bloomberg markets european close with guy johnson and alix steel. ♪ guy: european equities are lower as we head into the close, 30 minutes away. the dax is probably hitting the hardest, the industrial stories. italian yields, we are seeing it higher once again. turbulence in both of these countries are worth keeping an eye on. to the main story, what is happening is energy. today, it's about oil, not about gas a key pipeline has been closed out of russia running down through ukraine into hungary into the czech republic, this is a key pipeline you want to pay attention to. the russians of effectively shut it down as result of an argument over transit fees. this is another key hit. security is coming for a time of high temperatures, potential he headed into a winter to deliver low temperatures. neither of those are what europe needs right now. alix: it's a big important conversation we will have next. let's look at the u.s. markets. risk off decidedly, i have a cascade of bad

it in europe. so this is, i think the reason that a lot of policy makers attempt to accelerate this phase of fossil fuels and at the same time want to balance this on to actual energy is available. and to some extent, if you can still talk about the fordable in this transition period, of course, that the band on coal aims to sort of punish russia for its invasion of ukraine. how painful is, is still going to be for moscow in the short term. and the long term in your assessment, so far as i can still export on the coal to some other parts of the world. and on the global cold prices, typically in the range of them, 50 euro have increase to something like $350.00 or so even if them rationally to sell at a discount. i think at the moment it certainly is probably not very painful for russia. i mean, when we talk about renewables as well, i mean, how complacent has europe be not to have a backup plan in the years leading up to this particular event and the invasion of ukraine and all that's come with it

it is to europe. why now and the past decade, the south american country has gone from being dependent on fossil fuel imports for power to a renewable energy pioneer. almost 100 percent of its energy now come from renewable sources. but that also comes at a price. caddo pharma, jemina bolos property is surrounded by a wind park. and while the turbines don't belong to her, they bring many advantages to the farm. the company that built the wind farm also repaired al paths enrolled and installed fences and gators you. that's why we said yes to the wind turbines. after our initial concerns, that wind turbines financed by foreign investors rotate on geisha manas farm, paying her a $160000.00 a year in rental income. thought again, it is that we use the rental income from the wind turbines to buy cattle on his seed and she so i lab land that for his that moves as forward you when are you good . i got enough. dozens of wind parks like this one. have allowed uruguay to meet nearly all of its energy needs from

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ah, ah, this is dw, live from berlin as an unprecedented crowd hits europe. the continents mighty rivers are drying up. effects of record breaking heat reveal how much europe depends on its waterways for trade and for energy transport on the rhine river, germany is key shipping artery is now at risk of grinding to a halt. also on the program, kenya declares it's next present, but the battle may not be over. will the brutal winsted tightly contest the grace but several election officials say they will not stand by the result. ah, i'm good. how both as well come to the program. a summer of record breaking heat is drying up rivers. across europe, around half of the continent is facing an unprecedented drought. now, shipping companies in germany are preparing for the worst. as water levels on the river rind dropped to critical levels. authorities say many vessels will be unable to navigate the t shipping route. if levels drop much further, scientists want that climate change will lead to even more frequent periods of extreme heat and drought. the ws samantha bake

these places in europe or smashing all the records, stepped into a bold adventure. it's the treasure map for modern globetrotters. discover some of you are to record breaking news on google maps, youtube and now also in book form, i learn german with d. w and any time any place using video, nevada. yeah. but like if it was someone's to sing along to download a t from super munsey a tie. i buried courses, put us into active exercises, are available at d, w dot com slash don't plan on facebook. oh, in the lamb gym and for free with a vibrant habitat ended listening place of longing, the mediterranean sea, a star, and to far a dual career drift along with exploring modern lifestyles and mediterranean meeting people out hearing their dreams ready to re journey this week. do you w ah ah, this is dw news live from berlin. russia blames ukraine for a political killing in moscow, raising tensions weekend camp plumbing, kill the prominent ultra nationalists daughter. the father is an ally of latin, a potent and supports his invasion of ukraine. cave says it plato pot pakista

welcome to bloomberg markets europe. mark cudmore joins in singapore to take us there all the market action this hour. your cash trade is less than 60 minutes away. here are your top stories. a summit like no other.

europe is running a current account deficit now. that's the first time that's happened in a decade that is another change in terms of the flows we see and that's something that drags the euro lower through time the other thing i would mention is euro is not cheap from the big picture. yes, versus the dollar, the euro is low the effective exchange rate? the euro is not cheap. we could cheapen another 5% and only then start to get into stretch valuation level. that is why euro has further to go >> sounds of structure drivers that keep the euro stressed in the months to come what about sterling? trading below $1.17. the same question to you the pound here, to my mind, creates more upside risk >> it is a very similar story to europe we have the same type of inflation pressure and wage squeeze and weak consumption i would say a couple of things relative to europe where the uk potentially got upside i'm not saying bullish, but in the context of what is happening in europe. we have potential for fiscal stimulus after the leadership electio

she sees europe is more than being geographically close to the west to her europe is the future and she's made it her life's mission to fight for it. i think that georgia deserves to be a proud member off you up in union, but i know that there are a lot of problems today, and that's why i'm also doing my best and just leaving for these changes. ah, marian cake, who chatty says, one of the problems is george's neighbor, russia. she took us to an area where the issue was quite apparent at the border with a partially recognized separatist republic of south or city. most of the international community views the territory in the caucasus mountains, as part of georgia. it proclaimed independence 30 years ago, but heavily relies on russian aid russian money control south of santia. the russian military is stationed there. and after russia's attack on ukraine, georgians fear they may be next with it took 2 and a half hours to reach the destination. the village of continuity lies right on the border with south of santia. and the people complain the border here change is constantly. they say russia

she sees europe is more than being geographically close to the west to her europe is the future and she's made it her life's mission to fight for it. i think that georgia deserves to be a proud member off you up in union, but i know that there are a lot of problems today, and that's why i'm also doing my best and just leaving for these changes. ah maria, pico chatty, says, one of the problems is george is neighbor, russia. she took us to an area where the issue was quite apparent at the border with a partially recognized separatist republic of south or city. most of the international community views the territory in the caucasus mountains, as part of georgia. it proclaimed independence 30 years ago, but heavily relies on russian aid russian money control south of santia. the russian military is stationed there. and after russia's attack on ukraine, georgians fear they may be next with it took 2 and a half hours to reach the destination. the village of continuity lies right on the border with south of santia. and the people complain the border here changes constantly. they say russian sold

energy not only to turkish customers, but to europe also. so i suppose our european partner should think turkey for providing continuous transit of our gas to europe latimer pollutant. and regina hybrid won are always in touch. they can always pick up the phone and make a phone call or meet face to face like they did in the radium capital to wrong 2 weeks ago. well now they are meeting in san sheet. why that often? well, when western governments are putting maximum effort into isolating russia, moscow is expecting anchorage to become more than just a partner. boosting trade is what both sides want, including boosting trade in national currencies and a special memorandum on that is going to be signed today. and mister vladimir putin thanked time, bear to one for that. and also he thanked his counterpart of for mediating the so called ukrainian grain deal, which allowed the ships with the crating crops to leave the port city of odessa and also unblocked some of the russian exports now ahead of an election campaign in turkey, the turkish presid

an average across much of europe . right, and that was what you're expecting when you, when you just expecting warm and dry, we're expecting things to sort of reach the sort of crisis levels that would, that was c. see extreme events like we've seen throughout the summer. quite challenging to predict ahead of time. but what we have observed over the last 12 months to july 2022. it's been much dryer than average across all of the hydro. logical indicators, either much in western and southern europe. we're looking looking ahead as well. our multi modal ensemble as suggests that the seasonal forecast going forward into autumn and winter is also likely to be dry by is a little too early to be definitive. ok. so with that, that's, that doesn't sound like good news. but here's the thing. we see that marine chime every oxy river, about seeing the same sort of thing, a drought and record low water levels, a mo deploying cloud, seating rockets to try and bring rain. so perhaps you could explain to us what that involves. a why w

now they're not going to talk to anybody in europe because there's nobody worth talking to europe any more about it. it shows the lack of leadership there. they shed at any kind of responsibility that their citizens will go after them. sergeant schultz won't be there for much longer, guaranteed. go ahead and washington abortion. well, the russians have tried negotiating with the europeans twice already when it comes to ukraine. date it was, there was the 2014 january 2014 power sharing agreement that was supposed to peacefully end the my don color revolution and the us backed and coordinated ukrainian. nationalists simply ignored it and took power by force. and then those very same nationalist when they tried to crush the rebellion in dawn, yes. can, will gun skin premier by force and were defeated then again turned to france and germany to broker a ceasefire. and that was the infamous minced protocols. ringback disease fire, which again they proceed to completely ignore it. and what did the us do? it sabotaged these things that every step and the french and germans just went along wi

this is a very major drought that is impacting europe right now. as much as 47 percent of the european continent in some level of drought. danger of that 47 percent about 17 percent is considered in severe drought right now and the other areas are moving in that direction. so we haven't seen droughts like this too often. 2018 was a very, very bad drought year. 2018 was considered a one in 500 year drought. this is a 2nd one in 500 year drought. and this means that europe needs to prepare for for a different kind of climate in the future. and now we're seeing the transport of coal, we're seeing those hydro power plants, nuclear plants, they're also being impacted by this drought. right. what's that going to mean for an already critical european energy situation? you are so right, right now the rivers in europe are at historic, close the po river in italy, ryan river, traveling from switzerland through the netherlands. and the water is so low that we are no longer able to transport many kinds of materials by barge, which means that they have to be sh

by 2030 for europe. this obviously, that needs to be backed up by a set of policies to finance investment renewables. facilitate the integration the grids, and to do all the things around our energy systems to allow for such a shift. and i think if you look across european ministry, some in brussels, everyone has been working throughout the summer to kind of help to make this regulatory framework fit for purpose. it's good to get your inside and your thoughts is all professor cast no have joining us from berlin. thanks very much for your time. thank you very much. for the higher prices for a suit, housing and energy of left incomes overstretched, pulling suggests millions of americans. angry about the rising cost of living. president joe biden has said, taming inflation is its top priority, and he signed intimate a sweeping, $750000000000.00 tax healthcare and energy bill, which aims to lower prices and tackled global warming is a major victory for the president and the democratic party ahead of mid term

weak growth in also in europe or in germany in particular. and in that sense, it's been, it's a bit mixed picture. i guess what we can read into that is that the high uncertainty in the current situation is making life particularly hard for countries as germany or producing machinery, for example, with goods in general. because uncertainty is always a bad thing for investment obviously. and this is what is dampening growth in germany. so interesting, and speaking of these risks, we have the warning of the i m f saying that the german economy is most exposed to these a full address of the war and ukraine. and that has been data showing that the journal economy already contract it slightly in july. so how big is the risk for germany here? i think we don't see too much in the current figures yet, but the outlook is definitely extremely weak. i. i think we should expect for the 2nd half of the year for the 3rd and 4th quarter, we should expect negative growth. and this is obviously related to the current situation in eastern europe, but also rela

now they're not going to talk to anybody in europe because there's nobody worth talking to europe any more about it. it shows the lack of leadership there. they shed at any kind of responsibility that their citizens will go after them. sergeant schultz won't be there for much longer guaranteed. go ahead and washington abortion. well, the russians have tried negotiating with the european twice already when it comes to ukraine. date it was, there was the to 2014 january, 2014 power sharing agreement that was supposed to peacefully end the my don color revolution and the us backed and coordinated ukrainian. nationalists simply ignored it and took power by force. and then those very same nationalist when they tried to crush the rebellion in donnie, it's going to gone skin crimea by force and were defeated. then again turned to france and germany to broker a ceasefire. and that was the minced protocols. disease fire, which again they proceeded to completely ignore it. and what did the us do it sabotage these things that every step and the french and germans just went along with it and you

it is "daybreak europe." tensions over taiwan. urging beijing to refrain from aggressive action over nancy pelosi's expected visit as joe biden's has a u.s. strike killed a key planner of the september 11 attacks. asian stocks and u.s. futures selloff while treasury yields decline. keep a wary eye on the development in taiwan. three times 50. the reserve bank of australia hikes rates by 0.5 for the third consecutive month but says there is no preset path. the aussie dollar drops. that is what you call a dovish hike according to our chief economics correspondent. we will get to enda curran in just a moment. let me show you the equity narrative. we snapped three days of gains on the equities market. 56% have reported. 52% have beaten. that trailed the past five quarters. the results are better according to goldman sachs. they are looking into dovish messaging from the fed but there are a lot of deniers of this dovish messaging from the fed. not least speculation on a fed pivot is overdone and counterproductive. stocks drop as the if

the false coddling move to europe. south africa has filed a complaint with the world trade organization claiming the new standards that's totally necessary for the ceo of a sunday's rivers. citrus company says export is from south africa. i just facing discrimination. we believe we are being treated unfairly in the me, his we, if they can, the results that the head really open about it is not something that you know, that has happened with us before. and it's really difficult to ship and african speculate. and as i say, we have really good relationships in europe and want to know like, you know, at the end of the day. exactly why this was done in such a manner. you know, at the moment we are focusing to try and fall and do things as well as we can. and also obviously to get the salvo that is being held up in europe release as soon as possible. we believe the program says he made and regardless of the fact that we, we dispute the process, you know, we are trying to operate at this point. that is basically all we can do,

another attack on europe's busiest nuclear power plant. so i, we will ask a nuclear scientist if this could be another chernobyl disaster in the making. he said there was enough evidence to justify the search. and a tense way for the result of kenya's presidential vote. and hope for afghanistan's sick and wounded children. i am brent goff. to our viewers watching us on pbs in the united states and to all of you around the world, welcome. ukraine says it europe's biggest nuclear power station has once again come under artillery attack. the u.n. is warning of a potential nuclear disaster. chuck castro worked on the aftermath of the nuclear accident in japan. >> the threat grows with each attack. whether it is intentional or unintentional. >> the rest of europe, i know they're worried in ukraine. should the restopbe preparing for a worst-case scenario? as i understand it, this facility is not built to withstand the constant shelling that has been seen recently. >> that is great. it is not resume shelling by utility. we typically plan for a di