volkswagen is europe's biggest car company. volkswagen is a huge deal here in europe. they rose by 11%. volkswagen is outlook is smashing it. the stock getting big. this is a huge story. you could not buy cars during the pandemic and now you can. they have a huge order backlog. it's kind of like the service story. stocks are up .85%. the pound is also a little bit higher today. you have a dollar rolling over a little bit. the cool story coming out of europe is coming from stocks of volkswagen and lufthansa. alix: services in the u.s. is really strong. you would've thought that meant higher yields and weaker stocks. here, is it about tech. tech is rallying and part of that is broadcom up 4%. they are forecasting a soft landing and that's helping the rest of the tech center. on the downside, cosco is down by 3%. it is a big bold retailer, you go there and you buy this much water, food and alcohol. sales have been weaker since the pandemic. but that's ok because were spending on other things like restaurants. the 10 year is down .04 so this feels like a little bit of buyi

volkswagen reported 22.5 billion euro in the annual profits with special items up 13% this year this is despite the 7% decline in deliveries. the cfo has told annette, our colleague, that 2022 was a decent year for the automaker. >> you have a big oversight in 2022 and profitability improving and the delivery of 70,000 electric vehicles. if you look at details on the kpi with the supply chain issues and semiconductor supplies, sales were down to 8.3 million the turnover, on the other hand, increased by 12% to 279 billion euro and our operating for special items increased to 22.5 billion euro net cash flow in the auto business achieved 43 billion which was driven by the successful of ipo of porsche it was a successful year for volkswagen >>> let's look at credit suisse. it confirmed the financial results for 2022 and released the delayed annual report. the swiss lender said there would be no proposal following the compensation with the disappointing results. the check on u.s. futures this hour has green with 50 points higher for the dow it does indicate some caution on the back of yes

but volkswagen isn't the only car company so operating there. a recent report by shuffled harlem university says b m w mercedes benz, toyota and ford. are among those still in change, young or using products made there? the researchers worn in fact that it's hard for brands not to benefit from force labor. if they're producing in the sheet. jung region, y'all can only all was one of the researchers for that report from sheffield hall university in the u. k. and he joins me now. you all can good. have you on the show, have to ask you 1st about this visit to the room. she planned by this b, w. executive use of the workers. there appeared happy to work there and they saw no evidence of forced labor. how do you look at this given the research that you've done? oh, hi stephen. thanks for having me. i think is problematic to say that the talking to feel is in a plan shows no force labor in the region because it is quite impossible to talk to weavers freely without their fear of punishment or penalty. so i would say that the force labor schemes, in the

ah, ah, i'm see from beardsley in berlin. volkswagen faces a backlash after a company executive says he found no signs of forced labor during a visit to the company's factory in china's shane john region where the un has documented extensive human rights abuses. also on our show plants for a deep sea port on george's black sea coast take on new significance of chinese video sharing app, tick tock on government mobile phones, a canada, and the european parliament parliament announce similar bands this week as the latest chapter in a years long dispute over a popular network with more than a 1000000000 monthly users. canada has band tick tock from government phones saying the chinese app carries an anal employees from downloading the app in future. were making the decision that up for government of employees for government equipment, and it is better to not have them access tick tock because of the concerns other people have in terms of safety. this may be a 1st step. it may be chinese own video platform from all government issued devices . contractors must comply with in 90 days. the

a huge market for volkswagen. there's this double-edged sword. you have this huge demand but also these risks. he saw with covid zero and escalating geopolitical tensions. what's the plan if something material happens here. a lot of these carmakers are in big trouble there. guy: all of these companies are racing to ev world. at the german government is saying not so fast. how does that work? >> very interestingly ve fuel debate is what you are alluding to and germany and italy pushing back against this. porsche played a central role in this and pushing for the fuels. this came up a lot over the last 48 hours in the sense on the one hand electrification seems to be universal path on where cars are going. what the porsche ceo and the vw ceo are suggesting is this is not to track from the electrification efforts to come up with these so-called ee fuels which pulls carbon out of the air and synthesize these engines. it's quite expensive now, but the question is, it also be applied to other industries where you're not able to electrify. alix: this was

volkswagen said it would prioritise its battery making to north america. it could mean a plant that was planned for eastern europe could switch to america instead. the eu has not set out its plans or incentives to attract new technology, particularly green tech. so what exactly is involved in building an industrial strategy to entice big companies to invest and create a thriving business environments overall. let's hear from the uk director for the environments overall. let's hear from the uk directorfor the lib political economy. thank you for being with us and talk about how the strategies are determined. we have seenin strategies are determined. we have seen in the case of volkswagen, there is an element of the chip shortage, country saying we want to protect our national interest, protect our national interest, protect our national interest, protect our technology and also we want those jobs to come to our country? want those “obs to come to our count ? , ., ., ., country? there is a lot of competing. _ country? there is a lot of competing, political

volkswagen ceo is saying he sees 20 as a decisive year for executing strategy. vw co also says the 2023 will be consequential in terms of how they shift electric vehicles. the company remains in focus. the world's largest automaker terms of supply chains, inflation, labor disputes as well. hopefully there will be more lines on that. when it comes to credit suisse, the context of the 10% fall yesterday, lines crossing around financial material weakness in financial reporting. the chairman forfeiting the fee, waving a fee and taking a pay cut. this is a story that we will get more details on. at the top line is that credit suisse found material weakness in its financial reporting. i will get the timeline for you because this is reporting procedures for the financial year of 2022 and 2021. they are adopting a remediation plan. conversations with the securities and exchange commission and the u.s. have apparently ended. we will bring you more details on this and when that stock starts trading at 8:00 a.m. u.k. time and it will be a focus for us. let's crossover to m

volkswagen says it will have a range of about 280 miles at a price tag around $26,000. no word on a u. s launch yet, but volkswagen plans and your ropy in release in 2025 next some good news for catholics hoping to enjoy some corned beef on the st patrick's day. they're not supposed to eat meat on fridays during limp, but most bishops around the u. s are granting what they call a special dispensation. lifting the ban. but for today, only, finally who's there? well, one house cat found out this cat in north dakota. so an owl lurking outside in the two met face to face puffing themselves up. thankfully there was glass between you would have one looks like he didn't find out. it looks like a hoot. top headlines next sometimes the lows of bipolar depression feel darkest before dawn, with capital ada. there's a chance to let the light shine through and light tomorrow with the hope from today this is a chance to let in the light is a once daily pill that has proven to deliver significant relief across bipolar depression. unlike some medicines that only treat bipolar, one bipo

volkswagen will build a 2 billion-dollar factory capable of building 200,000 electrical vehicles per year. the guy who leads that effort, along with the governor of south carolina are here next. ♪. known as a loving parent. known for lessons that matter. known for lessons that matter. known for being a free spirit. no one wants to be known for cancer, but a treatment can be. keytruda is known to treat cancer, fda-approved for 16 types of cancer. one of those cancers is advanced nonsquamous, non-small cell lung cancer, where keytruda is approved to be used with certain chemotherapies as your first treatment if you do not have an abnormal "egfr" or "alk" gene. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or ur

. >> adding urgency, volkswagen is looking to cash out on the aid that has been issued by the u.s. and the w could hit -- volkswagen could hit pause for plans for a factory in eastern europe and instead opt for a factory in the united states. the american carmaker tesla has already announced similar plans. others could follow suit, costing jobs and pay if the eu does not offer similar conditions. wall street struggle for direction a day after the head of the u.s. federal reserve said interest rates would remain higher for longer than expected. that makes close with the nasdaq up .4 percent. private employers added more jobs than expected, another sign that the american labor market has yet to feel the real effects. fairly muted close, the dacs outperforming in frankfurt, and he does closed 2% higher even after they cut dividends and warned it could face the first annual operating loss in over three decades as a direct result of its failed partnership with the wrapper -- rapper kanye west. as we mark women's day, we look at affordable health care, an issue that disproportionally aff

look at lufthansa and volkswagen in the push higher with hello fresh. there are some serious talk stories that are worth considering. services continue to push higher and higher. 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.

for some reason, the cia refuses to talk at the moment for some reason volkswagen tesla nl and several other large companies have already abandoned development plans in europe and are looking towards the united states on friday ursula fondleyn as a petitioner to meet joe biden in the white house mission of the head of the european commission is impossible. she wants her american colleagues to impose a restriction on own development plan. in order not to entice european business. experts are sure that mrs. funderley. there is no leverage at all on biden, the so-called act to reduce inflation, which is essentially a plan. stimulation of the green industry in the united states was created, among other things, in order to attract promising production from europe, the main amount of funds is about 370 billion dollars , more than 60 billion under the management of the us department of energy by the way, at a conference in houston, jennifer grenholm, who heads the ministry of energy urged even traditional oilers from all over the world to join the american green transition experts believe tha

the stock and volkswagen down 3.4%. credit suisse and focus for us today. stock taking a hit once again after the drop yesterday. this was slender saying it will adopt a new brand to fix material weaknesses in its reporting of procedures over the past two years following conversations and talks with the securities exchange commission in the u.s.. credit suisse down on that. tom: john put it back -- francine: john put it best -- look at the premarket we are seeing this down yesterday now gaining 17%. pac west telecom gaining 12%. a lot of the focus is whether we found a floor. jim bianco said not so much. the one thing we need to watch out for is one day tightening on financial conditions. tom: tying into that is the broader banking sector. losses of 1.3% across the banking sector. a little bit more sanguine at the beginning. francine: coming up, the latest on the u.k. economy including employment data and the collapse of what svb means for the boe hiking cycles. we will get guilt and sterling and all u.k. assets. this is bloomberg. ♪ everything's changing

volkswagen. tesla in the earnings investor day, they did announce a cheaper car of $25000 but volkswagen said have one coming, would you buy it for $20000, a new id? the one ideas it's called, only 20k. stuart: that's the vw? that's competition for tesla. >> morgan stanley it says in the future, volkswagen might be the winner beating tesla in terms of sales. stuart: tesla is down a little today, thank you, we will see you later. coming up, minnesota's lieutenant governor allowing children to receive gender transition treatment is what it means to be a good parent. >> when our children tell us who they are, it is our job as grown-ups to listen and to believe them. that's what it means to be a good parent. stuart: listen and believe. elon musk responded forcefully to that. we will tell you what he said. kevin o'leary on the banking crisis, is it contained or what's? is on the show. dan crenshaw going after mexico as president again. roll it. >> this president is out of control. if you weren't sure

to the same volkswagen for the construction of a battery gigafactory somewhere in the prairies of texas rustam currency for today dollar 75 rubles. 45 kop. euro 80 54 and for now that's all thanks to me immediately after advertising briefly some of the central topics of the hour, but also our instructions on how to contact the bailiffs online. millions of people choose the warmth and comfort of intention juice. howe. buy from official partners closed a loan with a guaranteed rate service. it's nice. but that's not all, how not to pay everything on time, and the post bank will return the difference in money, having recalculated the delivery credit of 4.5% per annum , go to the post bank for money. the german government reported on the supply of weapons to ukraine for the week kiev received two self-propelled anti-aircraft installations cheetah and about 6,000 ammunition. and two more patrol armored vehicles in total berlin is ready to send weapons for more than 2.5 billion euros . and enhance transport security football the paris saint-germain club with the two best players of the year c

volkswagen is making changes after a vehicle was stolen with a missing child inside. police in illinois were forced to pay to renew a subscription to the company's car net tracking service during the urgent search for the vehicle. thankfully despite the delay, the child was found safe. volkswagen is now offering free access to carnet for five years for owners of its late model cars. we turned out a medical news and the shortage of a crucial drug for people with asthma. here's a b cs lionel movies. this morning, growing concern about a shortage of one of the most common asthma medications albuterol sudden my chest starts hurting, and i just physically cannot take a breath it's been on the fda is drug shortage list since october, but the recent shutdown of a major manufacturer could make finding albuterol even harder, illinois based acorn operating co. announced last month it was closing all its locations as it filed for bankruptcy pharmacies are now scrambling to keep albuterol stocked. we're checking secondary and tertiary vendors if our primary vendor doesn't have it

you'll find a gray volkswagen van that was supposedly used to run over a haystack. and go ahead, at least on all four sides, but i work where i want, and when i want, yes, otherwise i still somehow haven’t been given a separate office and you won’t wait. and why supposedly wanted, because the girl they stood, she in a coma personality is established did not have time to universal charging. that's it, come out it's useless to enter you will not learn. do you have time tonight, darling? all right, for now. so, i won’t remember the mark and the number of the car. still somehow unexpected. she ran out. i didn't even expect. you think you don't even notice me so much. and the coach is actually the team's doctor. and, of course, maria whom you build yourself on the stairs you train. damn, stop, die, i'm giving it my all. back off now. let whoever major kataev is in the police. what did you do last night at practice was the team look at me. he speaks the truth. before did you see jeanne ask him to move? he gave it to you on purpose. okay, why did i need to wonder, wo

volkswagen says it's particularly focused on expanding in china and the united states. the move is the first major strategy announcement by the chief executive, oliver blume, since he took over in september. earlier this month, volkswagen announced a plan to invest $2 billion to build a new factory in south carolina and build scout brand all electric trucks and suvs. time is 8 44. the fallout goes on from the failure of silicon valley back fact, people who have their money in the bank lined up outside to get their cash from the headquarters in santa clara. many want to get their money out in case there are more problems for that failed back. we still owe a lot of money to people we have hired and i'm here for them. many businesses have accounts at the bank. but the bank failures created challenges and problems beyond payroll in san francisco for affordable housing projects were financed with loans from svb. now those projects or on hold. underwriting is a lengthy process. um and as you know, we've all heard with affordable housing delays being more money. absolutely val

ah, i've seen beardsley in berlin. volkswagen faces a backlash after a company executive says he found no signs of forced labor during a visit to the company's factory in china's sheen john region. where the u. n is documented, extensive human rights abuses also are show plants for a deep sea port on georgia black sea coast take on new significance of chinese video sharing, app, tick tock on government mobile phones or canada, and the european parliament. parliament announced similar bands this week as the latest chapter in a years long dispute or a popular network with more than a 1000000000 monthly.

so as audi and b, m w and mercedes, volkswagen group start making everyone go electron, they not realize we've got a problem. if we go all electric, we need less employees because we're going to sell less vehicles. and that's a problem because they're hurting their own economy. so we're starting to see that some of the politicians in germany are waking up to realize this is not going to work. we're not going to freeze out our citizens. so they're starting to fire up and nuclear power plants are starting to use coal again because they know it's not going to work in their particular case and it doesn't work. so again, this is typical, the green policy sounds great on the surface sounds. you're helping everyone, but in reality, the wheels are starting to come off the bus. when you notice companies like toyota, mr. toyota, who is the ceo of the largest car corporation. the world says, this is not going to work. we have to have a mix. and b, m w barry and motor works at a germany is saying the same thing. we're going to offer hydrogen, we're going to offer plugin hybrid. we're going to offer

so as audi and b, m w and mercedes, volkswagen group start making everyone go electric, they not realize we've got a problem. if we go all electric, we need less employees, things we're going to sell less vehicles. and that's a problem because then they're hurting their own economy. so we're starting to see that some of the politicians in germany are waking up to realize this is not going to work. we're not going to freeze out our citizens, so they're starting to fire up and nuclear power plants are certainly use coal again because they know it's not going to work in their particular case and it doesn't work. so again, this is typical, the green policy sounds great on the surface. sounds like you're helping everyone, but in reality, the wheels are starting to come off the bus. when you notice, companies like toyota, mr. toyota, who is the ceo of the largest car corporation. the world says, this is not going to work. we have to have a mix. and b, m w. bavarian motor works out of germany is saying the same thing. we're going to offer hydrogen. we're going to offer plugin hybrid. we're goin

so as audi and b, m w and mercedes volkswagen group start making everyone go electron, they not realize we've got a problem. if we go all electric, we need less employees because we're going to sell less vehicles and back for problem because they're hurting their own economy. so we're starting to see that some of the politicians in germany are waking up to realize this is not going to work. we're not going to freeze out our citizens. so they're starting to fire up into their power plants. they're starting to use coal again because they know it's not going to work in their particular case and it doesn't work. so again, this is typical, the green policy sounds great on the surface. sounds like you're helping everyone. but in reality, the wheels are starting to come off the bus. when you notice companies like toyota, mr. toyota, who is the ceo of the largest car corporation. the world says this is not going to work. we have to have a mix. and b, m w. barry and motor works at a germany is saying the same thing. we're going to offer hydrogen. we're going to offer plugin hybrid. we're going t

so as already and b, m w and mercedes volkswagen group start making everyone go electric. they now realize we've got a problem. if we go all electric, we need less employees because we're gonna sell less vehicles. and that's a problem because then they're hurting their own economy. so we're starting to see that some of the politicians in germany are waking up to realize this is not going to work. we're not going to freeze out our citizens. so they're starting to fire up and nuclear power plants are starting to use coal again because they know it's not going to work in their particular case and it doesn't work. so again, this is typical, the green policy sounds great on the surface sounds. you're helping everyone, but in reality, the wheels are starting to come off the bus. when you notice companies like toyota, mr. toyota, who is the ceo of the largest car corporation. the world says this is not going to work. we have to have a mix. and b m w. bavarian motor works out of germany is saying the same thing. we're going to offer hydrogen, we're going to offer plugin hybrid. we

here's what else is happening in business today. volkswagen shares jumped more than 10 percent on friday. the german car maker unveiled and optimistic earning forecast for this year as supply chain disruptions ease. it reported a net profit of $15800000000.00 euros for 2022 and that sales rose nearly 12 percent. nigeria, supreme court has ordered the central bank to extend the use of old narrow bank notes until the end of this year. the withdrawal of the old currency last month caused cash shortages, widespread hardship and anger. the replacement banknotes have been in short supply, making it difficult to pay cash for goods and services. business business and political leaders are pledging billions and aid to protect the world's oceans from pollution, over fishing and even mining the global to day. our ocean conference is being held in panama. the u. s. has already pledged $6000000000.00 towards dozens of projects, including green shipping corridors. the e. u has earmarked over 8800000000 euros towards research and monitoring. but many regions of the high seas fall outside of internation

we are getting some news about volkswagen. it's saying it has come out with an affordable electric vehicle for $26,000. beating elon to what he said a few years ago that he wanted to do. are you concerned when it comes to tesla, the competition. the competitive world is heating up here. >> we think tesla's competitive position has improved. i would like to see the specs behind that volkswagen. my guess is, like for like it has either less range, less power, otherwise given the way the battery cost structure is today with tesla's battery cost structure so much lower than the industries. if they are selling a like for like car they are losing money on it. what elon is doing is unbelievable in terms of the number of factories that he has on the drawing board. and the automation and robotics, i think in order to make our expectation that it will scale to 20 million units from 1.3 last year, they will have to populate the world with factories and they are moving faster than anyone else. liz: these high technology companies -- i am

thanks so much on now to some of the other global business stories making us volkswagen is facing criticism from human rights activists and its work council. after the head of its china business said he saw no signs of forced labor when he toward a plant engine. jang, earlier this month, the un meanwhile, has documented forced labor ended detention camps across the region. germany's leading airline has unveiled its new 1st class suite beginning next year. lufthansa passengers will enjoy large video screens and wide seats that can be turned into flat beds. as part of the 2 and a half 1000000000 euro investment, the carrier is also revamping its business and economy. glass cabins well surging energy prices over the last year are pushing more countries to get serious about shifting to renewables. but with constant power cuts and the economy and shambles for a country like pakistan, the green transition is easier said than done with crumbling infrastructure decades old power lines, massive blackouts, and high electricity prices. this is life for millions and pakistan, especially in rural areas.

well now to some of the other global business stories making this volkswagen is facing criticism from human rights activists and its work council. after the head of its china business said he saw no signs of forced labor when he toward a plant engine jang. earlier this month. the un meanwhile, has documented force, labor and duct detention camps across the region. germany's leading airline has unveiled its new 1st class suite beginning next year. lufthansa passengers will enjoy large video screens and wide seats that can be turned into flat beds. as part of the 2 and a half 1000000000 euro investment, the carrier is also revamping its business and economy. class cabins well surging energy prices over the last year are pushing more countries to get serious about shifting to renewables. but with constant power cuts and the economy and shambles for a country like pakistan, the green transition is easier said than done with crumbling infrastructure decades old power lines, massive blackouts, and high electricity prices. this is life for millions and pakistan, especially in rural areas. bu

a good indicator for the cost of living. russian authorities have ordered all assets of car maker. volkswagen be frozen within the country. russian car maker filed a lawsuit against b. w. after the german group ended its cooperation with them in august. the company puts the damages of the equivalent of 194000000 euros german arms manufacture. ryan mas hall is now in germany's glued ship stock index, the dax 40. that's after the company share price, more than doubled since russia invaded ukraine in february last year. round mattel's predicting rapid growth in 2023 european countries boost their military spending over the hungry now, which is welcoming chinese plans for a major battery plant on the project. provides a booth for hungry green transition as well so much needed investment for a government that seen some of us you funding held back was not just brussels that's earned by the plants. a major chinese investment in europe right here on this hungarian field. the c 80 l corporation is building a new battery factory for 7300000000 euros engineer eva cosmo, however is not convinced. this is

a good indicator for the cost of living. russian authorities have ordered all assets of car maker. volkswagen be frozen within the country. russian car maker filed a lawsuit against b. w. after the german group ended its cooperation with them in august. the company puts the damages of the equivalent of 194000000 euros german arms manufacture. ryan mas hall is now in germany's glued ship stock index, the dax 40. that's after the company share price, more than doubled since russia invaded ukraine in february last year. round mattel's predicting rapid growth in 2023 european countries boost their military spending over the hungry now, which is welcoming chinese plans for a major battery plant. the project provides a booth for hungry green transition as well so much needed investment for a government that seen some of its eve funding held back was not just brussels. that's hurt by the plants. a major chinese investment in europe right here on this hungarian field. the c a t l corporation is building a new battery factory for 7300000000 euros. engineer eva cosmo, however, is not convinced. this is

a good indicator for the cost of living. russian authorities have ordered all assets of car maker. volkswagen be frozen within the country. russian car maker filed a lawsuit against b. w. after the german group ended its cooperation with them in august. the company puts the damages of the equivalent of 194000000 euros german arms manufacture. ryan mas hall is now in germany's glued ship stock index, the dax 40. that's after the company share price more than doubled since russia invaded ukraine in february last year. round metalli's predicting rapid growth in 2023 european countries boost their military spending over the hungry now, which is welcoming chinese plans for a major battery plant. the project provides a booth for hungary green transition as well so much needed investment for a government that seen some of us you funding held back was not just brussels. that's hurt by the plants. a major chinese investment in europe right here on this hungarian field. the c a t l corporation is building a new battery factory for 7300000000 euros engineer eva cosmo, however, is not convinced. this is

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we have bmw and porsche and volkswagen as well. wednesday is u.k. budget. a little more room to maneuver. will he have felt business with investment rates? thursday is a massive day, ecb day. we have a fantastic lineup. and then you have olaf scholz, it looks like he has a halo. at the back end of next week. it speaks to this regional security issues that were all thinking about at the moment. japan a huge ally to the western alliances and it is a critical part. i think it will be an interesting narrative for germany to think about what's happening there. emmanuel macron and the british prime minister. alix: first republic is commenting on an a for a filing that their liquidity positioning a strong and they are well diversified and that stock was down 51%. they are commenting that their liquidity position is strong. u.k. prime minister meeting with emmanuel macron. this is what they had to say in a press conference. >> clearly i would say a reunion and a new beginning. it marks a shared well to speak to one another to better coordinate new prospects. >> i h

so other western companies have done this. volkswagen has done this in germany. they've also said that there's no labor violations of their plants in, in change young. but it's just one of those examples of things where he really, he really faced a grilling and didn't come up with the goods you use, the word installed as if he's not the real face of this company. is there anything that you could've said to reassure congress in this case? i think there's been a lot of things. i mean, since the trump donald trump, basically try to put tick tock up for sale a few years ago. and then he changed his mind also because the chinese stood up, the chinese government basically they love the algorithm that runs tick tock. and that row that runs the in which is the chinese version of to talk because tick tock is actually found in china itself. and they so it, rather than give up their crown jewel, which is the tick tock algorithm, they basically put on the list of band export items. and which they, at which point to talk that we're, we're not going for sale and then trump mov

so other western companies have done this. volkswagen has done this in germany. they've also said that there's no labor violations of their plants in, in change young. but it's just one of those examples of things where he really, he really faced a grilling and didn't come up with the goods you use the word installed as if he's not the real face of this company. is there anything that you could have said to reassure congress in this case? i think there's been a lot of things, i mean, since the trump, donald trump, basically tried to put tick tock up for sale a few years ago. and then he changed his mind. also because the chinese stood up, the chinese government basically they love the algorithm that runs tick tock. and that row that runs the in which is the chinese version of to talk because tick tock is actually found in john itself and a so rather than give up their crown jewel, which is the tick tock algorithm they basically put on the list of band export items and on which they at which point to talk. so we're, we're not going for sale and then trump moved on

judge ruled at banks was also faced proposed class action suits by epstein's victims german car maker volkswagen will receive $1300000000.00 from the state of south carolina where plans to build a manufacturing facility for electric vehicles. subsidies are part of the u. s. inflation reduction act, which supports green investment. the u has been critical of the washington initiative, which it says disadvantages, europe, as the destination for investment. tree locker sets received the 1st batch of international monetary fund financing within the next 2 days. yeah, m f approving a nearly $3000000000.00 bill on the island nation and saying today that disbursements would be tied to reviews that are set to take place every 6 months. i my colleague, cassandra site is here in studio to help us understand the still more cassandra, we've been reporting a lot over sri lanka over the past year and the crisis there. let's start with this deal. what are the conditions of this deal? right, this is a deal many months in the making and from what i've been reading, they're essentially 3 big pillars holding up th

judge ruled at banks was also faced proposed class action suits by up seeds, victims german car maker volkswagen will receive $1300000000.00 from the state of south carolina where plans to build a manufacturing facility for electric vehicles. subsidies are part of the u. s. inflation reduction act, which supports green investment. e u has been critical of the washington initiative, which it says disadvantages europe, as the destination for investment. sri lanka sets received the 1st batch of international monetary fund financing within the next 2 days. yeah, m f approving a nearly $3000000000.00 bill off the island nation and saying today that disbursements would be tied to reviews that are set to take place every 6 months. or i, my colleague, cassandra site is here in studio to help us understand the still more cassandra, we've been reporting a lot over sri lanka over the past year and the crisis there. let's start with this deal. what are the conditions of this deal? right, this is a deal many months in the making and from what i've been reading, they're essentially 3 big pillars holding up th

judge ruled at banks was also faced proposed class action suits by epstein's victims german car maker volkswagen will receive $1300000000.00 from the state of south carolina where plans to build a manufacturing facility for electric vehicles. subsidies are part of the u. s. inflation reduction act, which supports green investment. the u has been critical of the washington initiative, which it says disadvantages, europe, as a destination for investment. sri lanka sets received the 1st batch of international monetary fund financing within the next 2 days. yeah, m f approving a nearly $3000000000.00 bill of the island nation and saying today that disbursements would be tied to reviews that are set to take place every 6 months. i my colleague, cassandra site is here in studio to help us understand the still more cassandra, we've been reporting a lot over sri lanka over the past year and the crisis there. let's start with this deal. what are the conditions of this deal? right, this is a deal many months in the making and from what i've been reading, they're essentially 3 big pillars holding up the st

a good indicator for the cost of living. russian authorities have ordered all assets of car maker. volkswagen be frozen within the country. russian car maker filed a lawsuit against v. w after the german group ended its cooperation with them in august. the company puts the damages of equivalent of 194000000 euros german arms manufacture. ryan natal is now in germany's glued ship stock conducts the dax 40. that's after the company share price more than doubled since russia invaded ukraine in february last year. round natalie's predicting rapid growth in 2023. as your pin countries boost their military spending over the hungry now, which is welcoming chinese plans for a major battery plant. of the project provides a booth for hungry green transition as well. so much needed investment for a government that seen some of its ease funding held back was not just brussels. that's hurt by the plants. a major chinese investment in europe right here on this hungarian fields. the c a t l corporation is building a new battery factory for 7300000000 euros engineer eva cosmo, however is not convinced. this

so other western companies have done this. volkswagen has done this in germany. they've also said that there's no labor violations of their plants in, in change young. but it's just one of those examples of things where he really, he really faced a grilling and didn't come up with the goods you use the word installed as if he's not the real face of this company. is there anything that you could have said to reassure congress in this case? well, i think there's been a lot of things, i mean, since the trump, donald trump, basically tried to put tick tock up for sale a few years ago. and then he changed his mind also because the chinese stood up, the chinese government basically they love the algorithm that runs tick tock and that row that runs the way in which is the chinese version to talk because tick tock is actually found in john itself. and a so rather than give up their crown jewel, which is the tick tock algorithm, they basically put on the list of band export items and on which they at which point to talk. so we're, we're not going for sale and then trump m

judge ruled that banks must also face proposed class action suits by up seeds victims german car maker volkswagen will receive $1300000000.00 from the state of south carolina where plans to build a manufacturing facility for electric vehicles. subsidies are part of the u. s. inflation reduction act, which supports green investment. the u has been critical of the washington initiative, which it says disadvantages, europe as a destination for investment, tree lockers that's received the 1st batch of international monetary fund financing within the next 2 days. yeah, m f approving a nearly $3000000000.00 bill of the island nation and saying today that disbursements would be tied to reviews that are set to take place every 6 months. i my colleague, cassandra site is here in studio to help us understand the still more cassandra, we've been reporting a lot over sri lanka over the past year in the crisis there. let's start with this deal. what are the conditions of the steel right. this is a deal many months in the making and from what i've been reading, they're essentially 3 big pillars holding up the

so other western companies have done this. volkswagen has done this in germany. they've also said that there's no labor violations of their plants in, in change young. but it's just one of those examples of things where he really, he really faced a grilling and didn't come up with the goods you use the word installed as if he's not the real face of this company. is there anything that you could have said to reassure congress in this case? i think there's been a lot of things, i mean, since the trump donald trump, basically try to put tick tock up for sale a few years ago. and then he changed his mind. also because the chinese stood up, the chinese government basically they love the algorithm that runs tick tock. and that row that runs in which is the chinese version of to talk because tick tock is actually found in china itself. and they so it, rather than give up their crown jewel, which is the tick tock algorithm, they basically put on the list of band export items and on which they at which point to talk that we're, we're not going for sale. and then trump mov

have a fresh response as well from volkswagen in response to the german automaker telling cnbc, we are still evaluating suitable locations for our next cell factories in eastern europe as well as north america no decisions have been made yet, we will stick to our plan to build cell factories for about 240 gigawatt hours in europe by 2030 for this, we need the right framework conditions that is why we will wait and see what the so-called eu green deal will bring. >> that's a fascinating response from vw there, clearly trying to ramp up the pressure on the eu to do more to respond to the ira. >> all of this, i think, will certainly happen ira has certainly created a few industries to look to the u.s. and say, well, we could get more benefit and more bang for our buck out there, but we do want to be loyal to europe. so is there a way we can work around this? >> right, absolutely we'll see what the eu comes back with on that front, president biden will meet with the president at the white house this week. the two were expected to focus on the act he's hoping the block will be nondiscrimina

i can't comment on the plans of volkswagen group in east europe because i'm here in southern europe, in spain, and i can confirm that we are doing our investment here for the battery electric plants and for the battery plants here. i think you also need battery plants close to where you produce your cars. and we produce small electric cars in spain. so it makes a lot of sense for us to have that battery plant here in spain. there's another factor, however, that i'd like to bring to the table, not just the subventions, and that's if you're going to build battery electric vehicles with zero emissions, then you need renewable energy to do that. it doesn't make sense to build batteries, electric batteries with fossil fuel generated electricity. so i think, particularly in the case of spain, with 50% of energy sourced from renewable energy and the potential of that becoming more... you can see behind me, i mean, downtown barcelona, the sun is shining. the sun shines here 300 days a year. so we have a huge potential of renewable energy. and i think that plays an important role and has play

so think about it, you know, there's real cost to building factories, versus if your volkswagen or porsche automobile holdings, they have a lot of assets that we don't think are correctly valued use the spinoff of porsche earlier this year, that company is worth roughly about what volkswagen trades for on the open market. so there's a myriad of assets that aren't exposing to value. for ten years, kelly, people didn't want to touch europe, because no money was made. one other thing, go back at look at the history of the dollar what happens is when commodities do well, the dollar does poorly. there's also a translation effect that will happen as the dollar weakens >> so people might think you have to look at the energy majors others have said they're more attractive you say maybe not so fast. why? >> yeah. because -- well, real quick. there's a company in seattle where i grew up, and they would teach you how to use less natural gas. he told me, never own a company that teaches you to use less of their product. and that's what the european majors have been doing hey, we're oil and gas busines

. >>> volkswagen revving up electric car market. it plans to invest $193 billion over the next five years in areas including battery production. the profits were up 13% from last year with battery and electric vehicle deliveries rising 26%. volkswagen is hoping to expand the slice of the growing market for battery powered cars. that's a check of your money watch headlines. >>> let's check our forecast. a lot of people are heading out the door and it is a wet one. >> it is windy too. i wish i could show that really well on first alert doppler but all you see is green. that indicates light rain with heavy pockets isolated in the yellow colors. let's zoom into local areas starting in the south bay from san jose on into santa cruz mountains. we are starting to see the rain kick up. that's the case for the next couple hours. as rain starts kicking up, so will the winds. to antioch we go, we saw these showers and that's tracking north. moderate rain from napa and even near fairfax. taking a look at the atmospheric river that we are experi

car maker volkswagen could focus on the us for battery production — after the country launched new incentives worth $10 billion to attract greener tech. the move could mean it ditches a project planned for eastern europe. but nothing is yet finalised, according to the financial times you're watching bbc news. let's go back to our top story — reports that a pro—ukrainian group was behind september's attack on the nord stream pipeline, which kyiv government denies. and let's just bring you a little more information on the nord stream project first. the pipelines stretch 1,200km (7115 miles) under the baltic sea from the russian coast near st petersburg to north—eastern germany. they were capable of supplying 170 million cubic metres of gas annualy, helping to satisfy german gas needs. this was seen as an important foreign policy objective for germany, but proved controversial with its allies — the baltic states, ukraine and poland in late september 2022 four separate leaks were observed in what danish police believes were powerful explosions blowing holes in the pipe and its newer twin,

the volkswagen atlas. more room for possibilities. [cheers and applause] >> john: welcome back to "the daily show." you know, one thing i love doing is educating people about new york's latino culture. [cheers and applause] that's right. so i went on the street to do just that. but things didn't go quite as i planned. yo, yo, what's up? i'm out here on the streets of new york city and i'm doing a latinx iq test. what's your name? >> i'm kendall. >> john: where you from? here's a simple latinx iq test. can you point where the dominican republic is? down here? >> john: sorry! you don't know. next? what is your name? >> d.j. >> john: where you from? >> the bronx. >> john: here is a simple latinx iq test. can you tell me where puerto rico is that? >> puerto rico. >> john: yep. >> somewhere on this map. >> john: that's a good start. what is your name? where you from? >> new york city. >> john: can you tell me where that i make interpublic's -- >> are you john leguizamo? do you know who this is? it is john leguizamo. he did the boys have sa

car maker volkswagen could focus on the us for battery production — after the country launched new incentives worth $10 billion dollars to attract greener tech. the move could mean it ditches a project planned for eastern europe. but nothing is yet finalised, according to the financial times as the firm waits to see how european policymakers will respond to the us proposals. don't forget you can get in touch with me on twitter, i'm @bbcbenthompson much more on the business pages of the bbc website. you're watching bbc news... we are bringing you a round—up of some of the other main news today. a blast of arctic weather has been sweeping across parts of the uk, causing widespread travel disruption. the met office has issued several yellow weather warnings today for snow and ice in parts of scotland, northern ireland and southern england. it's been the coldest night of the year so far with temperatures plunging to minus 15 degrees in the highlands. the bitter conditions are expected to last until the weekend. jenny kumah reports. the gritters were out in force across south—west england over