All of our meaning when we say theyre about never giving up the most exciting sport stories about people, passions and there, and dr. Sports flights every weekend on dw, the, the Worlds Largest chip maker agrees to a new foundry for advance any conductors in germany. Its welcome news for both berlin and the european union, which is worried about falling behind the us and china and the global rates for chips. Also in our show, it always cabinet surprises, banks where they proposed when fall tax non profits look at whats behind the move and its less with plenty of sun and wind. So why is the us state of texas increasingly opposed to Renewable Energy projects . Hello and welcome to our show. Im Steven Beardsley in berlin right here. The Worlds Largest producer of Semi Conductors has agreed to the terms of a new fabrication plan in the german city of tristan, the time when hes from t us m. C, announcing it will invest 3800000000 euros. The facility with german companies, bosh, and infinity, and, and dutch firm and x p, each holding another 10 percent. That joint venture of the German Government will guarantee the project with up to 5000000000 euros in line with new e u roles that loosen sate subsidies for chip projects. A t s m c. So as the new facility would create around 2000 jobs, construction will begin in the 2nd half of 2024, with production slated to begin in 2027. Right, Bill Erickson is a senior fellow at the center for european policy analysis. He joins us from finland, theyll walk into the show, help us put the steel into perspective, how important is such a foundry for germany or so i think it is very important and their Big Questions around the giving of so much subsidies to build these boundaries. Business, not the 1st one. Intel is also building a foundry for multiple billions of yours, and a lot of that money is coming from the German Government. So theres a big question of, of whether state money should be going to build these boundaries which are or building not perhaps what your needs most, which are, these are the most advanced Semi Conductors. Youre probably needs less Semi Conductor expertise, or, or the most advanced ones. But more for the car industry and so forth, the basic chips and at the same time probably should be spending its money on Something Else other than these very expensive boundaries. It should be spending it on its sprints which are in imaging and chemicals needed. And the Semi Conductor chain. So i think Big Questions at the same time, many with is this, this is an issue about supply, correct . Um, even though this is not a European Company coming in, its the world leader of force and conductors. Weve seen what a crunch and Semi Conductors can mean for burgeoning technology. Is this not a supply issue . And we look at also on a new level of why theres so many subsidies for this. Yes, i mean the, you share of the global Semi Conductor market has decreased dramatically over the last decade. Its down to around 10 percent. And the goal is to get it up to 20 percent. But the United States is also boring. Billions of euro is into subsidies. Uh, this investment isnt necessarily coordinated with the us investments. And again, its, its producing chips that they really are not that many consumers for here in europe. So the money could probably be better spent elsewhere in it, trying to achieve that sort of strategic autonomy and resilience. Another dividing quantity subsidies and for some countries can afford the more than others could disagree more Division Retention within europe. If we see a germany with the pockets compared to other countries, exactly, it has created tensions in europe because germany does have what you say. But the deep pockets of france wants to have some of these boundaries too. And it doesnt have quite as deep pockets. And then the small countries being finland be at the baltics. They dont have the funds to give a way to build and subsidize such a trip plants. So i think there is, this is something that is going to divide europe rather than necessarily united. Youre all right, thats Bill Erickson at the center for european policy analysis. Thank you very much, bill. Thank you. This thing in europe, italys government has agreed to hit banks there with a 40 percent winful tax for this year. Oh, it says removal, redistribute excessive gains, that lenders made from higher Interest Rates in order to help public finances as well as mortgage holders of the tax, which again is only for 2023 months still past due. Tell him Parliament Criticism has grown across europe and recent months the banks were not passing along higher Interest Rates to customer deposits. Countries such as spain and hungry have already imposed similar when full taxes on the sector. Battalion bank shares dropped up to 8 percent in tuesday trading. Your goal is president of the European School of management and technology in berlin. Youre welcome to the show. It only isnt the only country thats looked at siphoning, what it calls excess profits from its banks. Can we say whats behind this movement . The reasoning that is provided by the tony government is that theres a winding gap between the the Interest Rates saw by bad news to the borrower, and the Interest Rates paid by bass to better call the task. And this is used as the rationale for employee this task is does that make sense when we look at how deposit rates have actually developed over the past few months . Weve heard this complaint across europe. Is it true that in this case its lagging in many cases, or is it making slow progress . I think overall this decision is a very difficult one and also a dangerous one because its really discretionary. So its not a point of the time which no one expects it in which i know what im careful seat at this as long lasting effects on the reliability. Also the process that invest us shall this have in government actions. And therefore, they may always say that Something Like this may help them again. Is this something that we could see happening in other countries . Could they try and follow it was italys lead in this case . So the discussion on the seemingly on what is called excess process is but its got to be seen in different countries, multiple different industries. Its not only the case for bass, its on the case, but its also important on the case, the discussions that we see for utilities companies, for example, in germany, and also as we see a full bass in the country. So this is a, this is taking place, but as i said, its a dangerous one, getting the reliability that investors need to have in terms of what actually constitutes a tax payment. And also the difficulty is imposing in terms of what is going to happen in the future. So therefore, it needs to be discussed very carefully and we see the reaction in stock prices on the repeats itself. Were talking things, but we also see actually drops and stock prices across the whole united site to these governments maybe have a points that actually, that has been such a divide between his Interest Rates. The banks have actually been doing well. A briefly, if you could. Yeah, this is the whitening. Yeah. And its all this as bother me. Your question. Im sorry. He said you was competition rather than the with a tech savvy mattress. So this means if indeed the text, im sorry, your competition offering has come to the conclusion that there is, in fact a willingness by bass to pass on a high Interest Rates to, to the positive, very nice. And they should probably talk about the, the competition problems that come on that arise from such an action. But they should not do this in a tech. So the way, all right, eric, well quote is present of the European School of management and technology in berlin. Thank you. Thank you. And over now to some of the other Global Business stories making headlines. Toshiba has announced the 14000000000. 00 buyouts once a symbol of japans economic might. The 147 Year Old Firm has been wired in turmoil, including a profit patting scandal, experts expect the conglomerate to put some of its units for sale. Once its gone private movies, its got the Credit Ratings of several small to miss mid sized us banks. The agency warning that some of the nations biggest lenders could also be downgraded and warning that the sectors credit strength will be tested by funding risks and weaker profitability. The paypal has launched a stable coined Digital Currency thats backed by the us dollar. The debut of paypal usd comes as the crystal currency industry, faces hard times, trouble by the meltdown of f t x and the growing number of legal cases against the branches biggest exchanges. Well, the us state of texas has become something of a poster child for clean Energy Projects. Its already the biggest bruiser of wind power in the us and its well on its way to claiming that total for solar energy to not everyone is a fan, are important that a campaigner fiercely opposed the plans to build a massive solar farm your, his families land everything is bigger in texas, they say no doubt when it comes to renewable clean energy. This brings true. No other place in the us has more wind and solar energy plans and projects in the so called lone star state. So far so good bucks is about what makes texas interesting is 95 percent of the land in texas is privately owned. 83 percent of that land is were going to pass those why true areas landscapes, huge privately owned farms and cattle ranches for which texas is also famous for gave way for more and more equally massive wind turbine and solar panel projects all over the state. But thats no more. This is michael tickets were meeting the grandson of American Business mag 90 boom. Picking some dice, texas just east of south. Michael is active and a group of land owners who post a Renewable Energy project. And apparently hes taking us on a little tour to show us that a massive solar farm here is a bad idea, mostly whitland and densely forest and area the impact on the environment of the bio and the cost system here is devastating. Yeah, its a business has capitalism and its maximizing profit. But you know, for us that live over here. You know, what . 4th, 5th generation texan. Im use my home, michael says he and his friends and many of his neighbors will continue to push against what they deemed is the wrong place for a solar panel fall very well. Our san angelo in the west texas around here. The sun is almost always shining, the town has space a lot of space, large solar and wind Energy Projects makes sense here. Solar present, some really, really important advantages. Not only in terms of energy production, but in terms where im of the economy and his growth. 3 big Solar Projects brought in investment of 800000000. 00 into the cap, which brings us back to like pickens, you know, take it somewhere in san angelo. Theres a whole bunch of flat, treeless homeless land up all over the panhandle. You can put a lot of solar despite the bleak reality of ongoing and increasing the fights and legal battles between preservationist landowners and the Renewable Energy industry. Many here on a sense of over and regulations preparation and solutions for the future. All right, and is there motive or top business story were following for you a time when a Semi Conductor giants . Yes mc has given the green lights to a new factory in germany. Berlin is expected to pay up to 5000000000 euros and subsidies, in line with new e roles aimed at attracting chip makers. All right, thats it for our show. Find out more online, the w dot com slash business. Were also on youtube or the deed of the news channel. Thanks a lot of the take. It was a neck and neck way. A pulse. The beginning of a story that takes us along for the ride. Its about the perspectives culture. Information. This is either you news, the symbol i rent 16 times to greece is what i have to spend life from 50600 karen key more people than ever on the move worldwide in such of address in life. You know, is a very difficult journey and one is very hard. They beat you, they think, oh, everything on you know, stuff find out about some on stores in. So migrant reliable news to migrate the what he argues state is destroying the soils that he, that i know not renew or at least did so else how can we revive our exhausted cult plans the to the