Documents at his moral auto estate. At this rate, the former president could spend as much time in court in 2024. As on the campaign trail, christian salumi l g 0, new york environmental activism, panama threatening to hold more. Protests says the government moves to shut down the controversial copper line. The Supreme Court ordered the closure of the cobra pen to my mind in november, following widespread protests against the mining contract awarded to Canadian Company 1st quantum. Now the court said the contract was unconstitutional and then it blanked environmental sized scotts active. A submission was ordered by the court and not being enforced us armies most is done with him. Later on. Right now, we are in summit, but in a few months, 3 and a half 1000 millimeters of rain will fall. So we will have to control that waste Water Treatment area. And if i dont know, we are very concerned about the situation, we do not to allow to return to the streets if necessary. Notice, japan has successfully launched us new flagship rocket. The 2nd test, most of the edged 3 blasted off in the country south with its almost one year after its 1st motor fails, due to problems with its engine ignition. The rocket is seen as a possible competitor to spice x. This bell can 9 and could one day be used to deliver cargo to bases on the moon. All those uh, the headlines as a wise uh which side out is there a dot com has the latest sites here in the counting. The cost is coming up. The in the us is always of interest to people around the world. This has been going on for a number of hours. Youre not being used for surprise, but you see the report 34, thats an active perspective to try to explain to global audience why its important to impact your life at the height of the storm. Water was still high by hey, this is an important part of the world. People Pay Attention to this very good the bringing the news to the world. From here. The alarm adrian said again, this is counting the cost on al jazeera. Youll ricky, look at the world of business and economics. This rate is rails for us to have a Credit Rating down. Great. A negative outlook for the economy on cost is straining the nations finance cost of this week. Commercial real estate and the u. S. Is faltering beyond folding crisis is in regional banks as far away as japan and germany plus nations across the world of testing a full day work week. That doesnt really increase productivity and improve work life balance. The massive Ministry Spending a drop in revenues and a depleted workforce. Israel is borrowing heavily to fund a tool on gaza and its now intractable and one of its why this budget deficits this century worried about the fiscal and Political Risks. Moodys as low as well as credit racing for the 1st time. Now that will likely make it more expensive for the nation to borrow money. The agencies also full cost of negative outlook for the economy. Opening the door for a for the downgrade is rails finance minister slammed the decision as a political manifesto. Is it really challenges reports from occupied East Jerusalem . Within a stones throw of jerusalems old city, the Jerusalem Hotel has into 3 good times and bad. Since the 1940s, its old wealth palestinian chum appeals to the tourists who usually flocked to experience this ancient cities unique history. Yet since october, the 7th, most rooms have lain empty, is cancellations, rolled in hands to mon plummeted. We immediately lost 50 percent. And as time passes, losing more now we are running at 30 percent of what we used to have before the end of the kind of situation continues. It might become even even worse. Right . It is fall from the only one to have noticed that the war is bad for business here. The last we can move to is one of the 3 international credit. Racing agencies downgraded is rails Credit Rating from a one to 8 to now that still invested great is not junk, but it shows the strain to this voice putting on as far as the economy justifying the move. Moody sites, the ongoing military conflicts with how much its off them off and why the consequences materially res, Political Risk for israel, as well as we can, its executive and legislative institutions and its fiscal strength for the foreseeable future. Israel has never experience writing down grades before the moodies decision was a double. Why me not just the reduced rating, but a negative outlook to which means another downgrade could be coming. Is around the central bank estimates the will cost at 69000000000. 00. I have 820232025. Borrowing is going up to the a record levels. The countries 2024 budget comes with a deficit of 6. 6 percent of g. D p only the current video to 2020 was higher. Still the market response sofa is being told her in the Interest Rate for is really bones have increased. Ok, even before the rating were going down. And this is netra. But isabel, because its a bit industrially very, very strong country. The fundamentals themselves havent been hurt much, far right financed. Many said bets it outs much. Rich slammed moodys downgrade is politicized. Prime minister Benjamin Netanyahu in system is rouse credit, racing will bounce back with the was and but no one knows when that will be or what will follow to a better time. Some invest is like riots, tourist might choose to stay away. Rolling trends. How does era for counting the cost occupied East Jerusalem . Joining us not from london, danielle, bang, keep that ill is associate professor of finance at Queen Mary University of london. Will welcome to dante, what do you make of this decision by movies to downgrade is really officials to say that is not consistent with micro economical fiscal figures to the primary, the primary reasons why moody dominated the uh, these really uh they start 80 uh ranking is due to Political Risks and youll need to cut rates, which are likely to persist even after the conflict ends up. So the fiscal situation is projected to be the to do they think, uh, in fact, almost a god bless the how the, how the comp that goes. So what are the, the financial repercussions of moodys decision, especially on invest as well as the investment grade. So usually youll see a substantial increase in Interest Rates when, when, you know, gets, gets out of the investment straight investment, grades, and ranges. Uh so uh, certainly the borrowing cost with increase but not dramatically, but really what is most easiest to pronounce that the, the, the fiscal situation, the, the, the budget, the budget is such that the setup 6. 6 percent the g d p moving forward. And this is compared to a 2. 5 percent the was projected to be pre conflict. So is really the 1st consideration and that includes the borrowing that worries, movies, and can and, and the market street, you say that the borrowing costs are going to rise, but not dramatically, but theyll be a drag on the economy. Went the especially if the war goes on is as well. A risk of default in any way. No default, i think is a stretch. But certainly if hes got to tell the nation the, the direct uh, and then gotten a cost is being estimated by the bank reserve to be around 13 percent of the gdp. Thats a huge cost. And its gonna definitely take control on the economy moving forward. In fact, mode is talks about persistent freaks that gonna drive the economy. Uh well before what . Even after the conflict of us, we hook is really a government officials of, of to food bodies downgrade, but all of the Credit Ratings agency is gonna follow suit. Oh, thats usually the case, but its never given. Uh, it really depends. Uh typically does these raping agency, they have similar models within the motto. So uh there is there is that, you know, the likelihood that, that the items would follow, but its not necessarily give them the as rarely federation of Business Organization is on the tennessee based micro center for political economics of joint plate for cost of the war is going to contribute to the pleasure of what some 30000. 00 small and medium sized businesses and in various sectors of do you think theres going to be increasing internal pressure on the government to, to, to sort this out to the end as well as businesses go boss people lose the jobs their incomes definitely that wed be internet price or any fact if you look at the modest decisions a lot of the Political Risk is, is actually what is going to be of the government top of the complex. And thats possible clear. Uh, so definitely that would be into the pressure bar. You know, if you look at the pools, this seems to be that, you know, huge support from the population to devote out front at the moment. So im not seeing the pressure for the foreseeable future as a key factor here. First of all, whats your end anytime soon . How quickly what as well as economy recover in the past, its recovered, but its relied heavily on its on its the tech sector, but that has taken a hit of late to absolutely absolutely got him is to be seeing how the conflict ends when the contract ends and under which single status is because theres always a chest that theres going to be escalation up north with the has the law these, what was the, you know, the didnt is always they known 0 trust is going to be able to get a call today. Uh so um, as far so clear how the economy kind of call the ethical but and how. So all of those are you just said with these, which is part of the reason why moved is gave, gave a downgrade. What are you making for language . Step mode is yours as well. It, it highlights of the lack of, of a long Term Solution to, to the war. And it specifically emphasized these ready governments rejection of diplomatic proposal spearheaded by, by the us, of dealing with the, the, off the mouth of the what i mean, what do you make of, of the fact that mr. Booties as being that political, if you like it, its in its statement. I dont see that as a political statement. I see that as you know, saves me based on facts and Political Risk plays a huge role for the economy. I mean thats, thats true for everyone. And especially if you are not in a conflict, so its not, its not a political statement is really just stating the fact that these huge Political Risk that is going to take a full on the economy for a variety of reasons that acting on that i. And that seems to be a little way out. So i dont see that as political statement is, is just stating facts as far as im concerned, the countries dealing at the moment with a depletion workforce to farm workers have left us the buying on palestinian workers. And it is costing a heck of a lot just to keep things taking a long at the moment. Economy wise, isnt it . Absolutely. If you look at the government, deb rachel is speaking, its 67 percent. And that was, you know, compared to 55 percent projected before. So were really talking about 1215 percent of the gdp into years. So thats the huge cost and is as soon as possible theater, how that can recover from this. Certainly in the short term uh, even assuming that the conflict, the conflict ends and so good to talk to you, profess so many things being done, you know, for being with us. Im not counting the cost. Thanks for having me. Well, this real sage, relentless bombing and ground operations of up ended old man of life in gaza. The International Monetary fund was that the Palestinian Economy is facing a grin. Few chips, the Organization Says the Economic Activity and the strip has dropped 80 percent from october through december. And its the document of terry and situation unlimited deliveries and the occupied westbank is in sped eva activity. That is down some 22 percent. A number of factors are contributing to this, including israels withdrawal of what permits of the withholding of palestinian tax revenues. Payroll fast food John Mcdonald says that its missed its course of the sales target for the 1st time in nearly 4 years. The companys blaming the decline on israel is war in gaza at a boy called by customers in the middle east sales growth in the region. China and india felt fall short of expectations reaching only not point 7 percent of the us brands, including starbucks and k of see it also slash the annual sales, full cost of the kind of the time that it may be over. But Remote Workers havent fully returned to offices buildings across the u. S. A. M t, and the value of commercial real estate is fully well borrowing costs increasing. Thats causing problems for landlords who rely heavily on debt. Now that lenders, the banks of worried about the impact of bank loans on the Balance Sheets, the past week of board concerns over mounting losses on lending to the commercial Properties Select up revived memories of last years banking crisis. When 3 american regional lenders collapsed. But how much of banks in other countries, a risk . Lets explain it all in the us. Banks have approximately 2. 00 trillion dollars in commercial real estate loans out. According to goldman sachs, small and mid sized banks are responsible for around 80 percent of these loans. Analysts say that building 2. 00 trillion dollars that is due to mature in the next 5 years, and thats raising concerns about the banks ability to recruit funds. So last week, new York Community bank co reported an unexpected loss of 252000000. 00 in the full course. Thats a significant downtown from its performance in 2022. But the prices isnt confined just to the us. Banks in japan and switzerland a feeling the strain, well real estate land up p d b in germany says that its preparing for the most severe dropping commercial property values. In 15 years. The situation embarrassed the 2008 financial crisis. And there are concerns that it could spiral out of control bus us Officials Say the problem is manageable. What are you hoping believe it will not end up being a Systemic Risk because of the Banking System. The exposure of the largest banks is, is quite low, but there may be Smaller Banks that are stressed by these developments. Joining us now from london, which i think ill richard, is a Senior Investment analyst avalon, the based Financial Institution ambrose, the capital good time you with this richard. So we had a crisis or not right now, almost a year ago, we saw the collapse of s b b is. Is this a different situation . It is much different. Um, the regulators have been marked cover of the past year just regarding the medium sized bank. If youd call them new york commercial bank, this service go back to medium sized bank with assets all over 100 billions. And this is one of the reasons for the price is supposed been somebody that asked it to take mattress to charge is capital. And i talked to split investors along with the unexpected loss, but i would say that while we need to monitor the exposure, says commercial banks to commercial real estate, particularly in the large cities, were not nearly a point where we should be predicament, crisis dressing, yet certainly nothing like last year. Okay, but is it a problem of the short term fix or is this something thats going to keep bubbling away, nagging away for some time, yet it will continue powerfully because the us Banking System is already on consolidated. There are course, the top 4 or 5 banks which dominate the country system. But there are literally hundreds of large Regional Community banks, spread truck delighted states where baron calling the role just because of the nature of the banking bottles, their assets being very large relative to the capital. And thats a confidence crisis occurred as the deposits if we write quickly by today, i think the regulators have done a good job of preventing wide scale panic, which could have happened after the so kind of the same price as of last year. With shop quite, im timely and started with the Credit Suisse crisis just as you say, well, banking these days. I mean it is, its banking is a global affair that theyre all interconnected. As we said, there are banks in japan, in switzerland, in germany, that, that of that, of feeling the strain. But you, you say that theres no risk of contagion. You dont think the system of the blogs and control a reckless. This is one of the blessings im to skies. If we could say this about the troubles for the new york bank and that its set while theyre large. Um, its very heavily connected to the new york police or marketing. But its not very involved in the also bias market and its not interconnection nationally or internationally. By contrast to the bank, such as bank of america, is a very broad natural presence across a Broad International presence. So if there were this type of unexpected loss of more significant rise and expectations about the loss, is that a bank which is internet internationally connected . I think we would have to be very, were not in this case, at least not yet. Or i do Interest Rates, play any pos and, and what, and whats happening right now to some extent, but its much different. Last year the effective Interest Rates was to cost bosses on the polio. And bank such as Silicon Valley bank or s b b, or as at present it is more of a traditional impact of rising Interest Rates. Meaning its more difficult for the bars to a back of loans. But i would also stress that data losses on n y, c, b colors have been quite small. By contrast that warning about the possibility of large choices in the future. Should investors be worried about about whats happening right now . I dont think trust yet, largely because the market concerned has been limited to one bank. I think in a time like this investment would be for an over the Balance Sheets of every bank and its pamper. And to the extent that this is probably a underwriting agency, sometimes as well, and they havent found any falls elsewhere. And edition has real estate and what has become for the a commercial Real Estate Advisors of the banks and non de, an extra institutions. They do seem to be pockets of risk, but they largely tend to be in the separate Business Districts of the mattress cities. And while that doesnt work for them, the rest of it seems to be at the levels which should encourage investors to be worth more broadly. In the us, but lower the rest of the world. But i would also that, that there are these risk elsewhere jiggling Type Research is leaving germany. And its possible that those risks away to contention. Although i dont think were there yet either. Okay, richard, stay with the 2nd. I just wanna ask you a question about something related but completely different. Really . 16 percent of american millennials lived with the parents in 2022. How that trend is spent on the rise for the past 2 decades. One of the reasons not to move out is finding rent a lot more expensive, but it was a few years ago. But the us still lacks far behind countries like multiple where 70 percent of adults younger than 35. 00. Still live at home with the parents, at least they did in 2022. So richard y millennial was staying at home and not moving out a how is that going to impact the Property Market . It will have a material impact. There was a lot of trauma, as you said, and my Youngest Congress is quite traditional. Its also quite traditional Southern Europe for children to live with the parents for quite a long time. I think it will have a big impact on a change and the relationship model and how the economy falls over time in terms of the house for me and residents for me and things like that. I think though it is inevitable, those as prices have risen overtime and Interest Rates as well when Interest Rates were lower than when it was rachel to the point has is, but was a combination. But the part of Interest Rates in housing, guys, its just become a possible fund over time they will, they trust they will raise their savings and they will be able to. Ready join the house in laterals is called the new k. I think its for the most part, just a matter of investment. Richard, its been raining, good to talk to you on catching the cost many thanks. Indeed for being with us. I can not bosses want their employees to work hard to cost somewhere because they, they can actually achieve more by working spots. But how about working fuel days with the same workload and getting paid the same salary . Well, advocates of the full day work weeks, a could increase, work up productivity and improve work life balance. That principle has been put to the test in Different Countries around the world. Germany, for example, is the latest nation to explore it in an experiment that will last for 6 months. The country already has one of the shortest average working weeks in europe. But companies have been struggling with a shortage of Skilled Labor of the nations of embrace the idea with belgium, the 1st country in europe to legislate for a full day week. Joining us from oakland and usually lives andrew bonds. Hes the founder of the full day week global, which is conducting the largest ever trials in Different Countries, including the u. K, to us, south africa, and germany. Good teddy with a center. So is the full day working week. The future of look what are the advantages of it . Oh, good evening. I do. Well, yes, i think the advantages appointments, generally, not only do you get an improvement in productivity. Indeed, a trial in america. Revenues increase by about 30 percent across the co who was going to the truck. But critically you also get benefits the flow for him to the employees. Yeah, so with my boss, but actually translates to actually the connection with the company engaged in schools, for example, seem to go up about 20 percent on average. And companies that introduce a review south week. Okay, everything has a balance. So i bo critics argue that it creates more stress, it impacts creativity. Its difficult to measure productivity, and its not a clickable to, to all industries a comp it on every right. What do you make of us . I wish i had a dollar where everybody said, well, you know, it impacts productivity. The answer is most companies dont measure productivity is what they do is they use the times of, sorry for productivity. At the hospital proposition is a thing we call the 100 a 100 percent pay 80 percent time provided we get 100 percent productivity and that also extends to customer service. Now what we see on average is companies that excuse fits, that productivity overall goes off of mount 0. 25. We also find teamwork creativity. Schools go stress levels markedly. Draw a match primarily because people are learning how to look smart rather than just the and sick leave. Andrew cost, the job, it economy Something Like 28000000000. 20. A does a 4 day working weekend practically the tool. Absolutely it does. We see again across all the process being quite consistent in from south africa to the us to the gate will straighten the city, actually draw spike tossed in some instances up to 60 percent. So its not was translated into the government, the economy, you know, there is a 14000000000 your goods to the economy of. Its a similar statistic indeed in the united states. So what we see is that people stop quite taking cloud sick days. Now some of that because the sick, the, some of that of course is that theyre doing home actually on the excuses. Were sick. All right . So when you can substitute that for planned the next, if you makes a big difference without or i productivity as you say, is likely to go up or, or thats what theyve been experiment show that, does that mean that the, the bottom line is affected to the prophets rise in line. Absolutely it does. We find in our own company weve now been doing this for about 6 years. We are twice as productive one of the capital bases in terms of revenue. As on nearest competitor, it does make a difference. I mean is extremely sustained and values regardless of the industry that you are rich. And presumably, andrew, all of this mean means that the big the economy overall is much more dynamic. Absolutely, because if you think about it, its not just the economy, just the output, but youre guessing what the trip but you might actually go time to do cycle more time to upscale. Use a very critical become the countries that are thinking about how they react to the impact to then i actually you get back to family to each more time spent. Children, the whole service flows through to better education. While we see this is something where every when you start to focus on the length of time and productivity, rather than just sticking with a 5 day week, which is a construct, oh, you know, the early 20th century repetitive man actually st. Fast. The nice thing andrew manufacturing, theyve really enjoyed that. Thanks for being with us on counting the cost. 20. And thats, ill show for this week. If youd like to comment on anything that youve seen, you can get in touch with us. Im at a synagogue on x. Try to remember to use the hash tag h a c t c. When you to contact us, you could also drop us a line caution the cost without a 0 it dont. That is our email address. As always, most plenty more for you online. Ill just 0. Dont com slash dtc. That takes you straight to a page and day. Youll find individual reports links at a time episode to use to capture. But thats it for this edition of counting the cost. Im adrian said again for the whole team here, though, thanks for being with us. The news on al jazeera is next an unsettled top upfront takes on the big issues. There is a close to what is happening now. It is of call thanks. 3 question. Question about 5 upfront without 0 was discussing the defining issues of our time. We are the subject of a i, were not the users of a i going beyond the Artificial Intelligence hyphen, big tech propaganda to explore how to code the sites an ethical ai, the racial biases, get worse. You get more about, you know, those in power are the ones with the resources to decide where its used. How do we change this paradigm in the studio b, b, a i series on a jersey to this is took. Took is the 1st country in the world to develop a comprehensive national, Sustainable Tourism program. In partnership with the global, Sustainable Tourism comes village life here retains its charles. Every meal is like a feast from the farm to the tape. Hundreds of excavations and restoration. This country is a place to slow down and enjoy the simple things coming to discover the natural, historical and cultural beauties. The. Ready the youre watching that is our life or my headquarters, and so how im getting you navigate all coming up in the next 60 minutes. The scramble for food and gaza as israel prevents deliveries of humanitarian supplies, born into a war zone. Health workers struggle to safely deliver babies and of the International Criminal court. Warrens effect perilous situation, india fast in