A senior fellow at the center for european policy analysis. He joins us from finland. Theyll walk into the show, help us put this deal into perspective. How important is, uh such a foundry uh for germany to so i think it is very important and theyre Big Questions around the giving of so much subsidies to build these foundries 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 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 in a Semi Conductor chain. So i think Big Questions at the same time, anyone say this is, this is an issue about supply, correct . Um, even though this is not a European Company coming in, its the world meter, a force and conductors, weve seen what a crunch and send me 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 u. S. Investments. And again, its, its producing chips, but there 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 or autonomy and resilience. And other dividing quantities, subsidies and for some countries can afford the more than others. Could this create 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 europe and 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. It says removal, re distribute 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 time. 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 winful taxes on the sector tale and bank shares dropped up to 8 percent in tuesday, trading gall call as president of the European School of management and technology in berlin. Youre welcome to the show. It really isnt the only country thats looked at siphoning, what it costs excess profits from its banks. Can we say whats behind this movement . Youre reasoning that is provided by the attorney government is that thats why the gap between the the Interest Rates shot by banks to the bar us and the interest space paid by bass to betty, 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 . Or i think overall this decision is a very difficult one and also a dangerous one because is really discretionary. So its not a part of the time which no one expects it in which i know what im careful see as, as long lasting effects on the reliability. Also the trust 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 seemingly on what is called excess process, its a discussion we see in Different Countries multiple different industries. Its not only the case for bass on the case, but its also 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 cost that 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 receipts itself, were talking things, but we also see actually drops and stock prices across the entire site. To do these governments maybe have a points that actually there has been such a divide between these Interest Rates. The banks have actually been doing well a briefly, if you could yeah, this is dustin, im on this whitening. Yeah. And its all this as bother me. Your question, im sorry to said you was competition rather than the with a tech savvy measure. So this means that if indeed the test, im sorry, your competition, all right, is 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. Then 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 technical 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 an out the 14000000000. 00 buyouts, once a symbol of japans economic might. The 147 Year Old Firm has been mired in turmoil, including a profit patting scandal, experts expect the conglomerate to put some of its units for sale. Once its gone private moodys, 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 as paypal, as long as the stable coined Digital Currency of us back by the us dollar. The debut of paypal, usb 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 tougher solar energy to but not everyone is a fan or puerto medic campaign or fiercely opposed the plans to build a mass of solar farm near his families land, everything is bigger in texas, they say no doubt when it comes to renewable clean energy. This springs to no other place in the u. S. 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 work in the past. Those one or 2 areas landscapes go 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 magnate t bu. Picking some dice, texas just east of south. Michael is active and a group of land owners who post a Renewable Energy project in the account. Hes taking us on a little tour to show us that a massive solar farm here is a bad id, mostly whitland and then sleep force that area, the impact on the environment of the bio and the cost system here is devastating. Yeah, its a business, its capitalism. And its maximizing profit, but you know, for us that level 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 from berry, 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 almost the economy in its growth. 3 big Solar Projects brought in investment of 800000000. 00 into the account for things are 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 increase of the fights and legal battles between preservationist landowners and the Renewable Energy industry. Many here on the sense of over and regulations preparation and solutions for the future. All right, and is there a motive or top business story were following for you a tie when hes 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 rules and, and attracting chip makers. All right, thats it for our show. Find out more online dot com slash business. Were also on youtube or the deed of the news channels. Thanks. A lot of the. So punch man has plenty of space. The ford f 150 lightning is a battery, electric horse power monster. We take a look under the rule of this giant b, b can and live up to its legendary gas powered cousin. Read the, the pretty clear through their own actions. Their ultimate goal is to wipe out an entire city, doing these 2 to send the week or the week of this in china and oppressed minority. The International Community has no right to stay silent, because silence is always the torture is a complex, spiritual, the door and 6 because my child was screaming, dont take mommy. Reset to my son. Your mom is not coming back. Over the february 2020 Russian Troops invaded the ukrainian city of computer. It was a re capture 6 months later, the occupation was hard. Work under Russian Occupation who resisted. Get out of here, little shoot. Who collaborated. Some people just remained to the posts during the occupation. How can life go on after all the terror . Everyone can endure the fear we felt every day. When russia starts august 25th on dw, the is dw news lie from dallas, west african nations, and the us search news, as who and to restore a civilian rule. Before a key summit on the 1st day talks with at the top us official failed to reach an agreement to put president s of 100, but soon back in office. Also coming up lead us from a south american countries