On safety grounds, and in some cases residents are not getting enough to eat or drink. Now on bbc news, all the latest Business News live from singapore. Despite all the scandals, samsung still appears to be making a lot of money. And the 620 meets in germany. We look at how americas protectionist stance is affecting its global position. Hello and welcome to Asia Business report. I am sharanjit welcome to Asia Business report. I am shara njit leyl. Welcome to Asia Business report. I am sharanjit leyl. From exploding mobile phone batteries to its Chief Executive being behind bars, samsung has had its share of scandals, lately. Despite all about, has had its share of scandals, lately. Despite allabout, it has had its share of scandals, lately. Despite all about, it is more money than apple in the First Quarterfor more money than apple in the First Quarter for the first time, with profit coming in at over 12 billion. And as this mobile research a nalyst billion. And as this mobile Researc
particularly that really bad hit had really delirious effects. as you list these off it s almost like job, right. there s a supply constraint coming out of covid and then there s this war on the european continent. the other one is we ve had two of the biggest bank failures in american history just a few months ago. pretty close to each other, i guess we had three total that went down, wound up auto. there was real worry of like, okay, is this the kind of black swan event. this thing s been humming along, people call it a honey badger economy. it s been churning, it s been managing to deal with all the shocks. there was concern that shock might be the thing to knock it off course. how confident are you that that s resolved? i think thanks to the intervention of our regulators we stemmed the bleeding there really quickly. they stepped in to make sure that all the depositors that those banks were made whole and had access to all their money. immediately that was crucial to
50% cleaner than coal. it had nothing to do with a government incentive but everything to do with markets. we were producing more here and reduced costs. we want to export that progress around the world. unfortunately we don t have a policies in place to do it. bill: we were doing it. dana: we are headed into summer months, warmer and when the government decides to change fuel blends, gas prices already on the way up. secretary granholm yesterday on what she says they are trying to do to reduce gas prices. the actions we took last year in the wake of the war and supply constraint was to release from the strategic petroleum reserve. gas prices fell about 1.50 a gallon at that point. oil traded on a global market, opec decides to cut production. that s a problem. we want to encourage domestic production. this year we ll be at a record level of domestic production in the united states. dana: those members of congress must have been
just inflation, but actually of the growth impact and the growth damage of hiking aggressively. we believe that in 2022 the focus is really around the politics of inflation, which is why not only are we seeing the ecb but also the bank of england aggressively hike rates. but at some point, first half of 2023, we believe the focus is going to shift from the politics of inflation to the economics of inflation, ie, the damages of hiking aggressively the growth outlook, and at that point we believe central banks will have to pause their aggressive rate hike cycles and decide to lead with inflation, especially in an environment shaped by supply constraint. the inflation we are seeing right now at this juncture are not easily solvable by central banks hiking rates aggressively because hiking rates does not
solve supply bottleneck constraints. solve supply bottleneck constraints. , , . ., constraints. very difficult to manage- constraints. very difficult to manage. the constraints. very difficult to manage. the central - constraints. very difficult to manage. the central banks| constraints. very difficult to i manage. the central banks do not have the power they would hopeful but in terms of inflation in europe, so many people are trying to predict when it is going to peak or if it has peaked. your thoughts on that? ~ ., it has peaked. your thoughts on that? ~ .. ., , .., it has peaked. your thoughts on that? ~ .. ., , ., that? what we have seen so far is the energy that? what we have seen so far is the energy component - that? what we have seen so far| is the energy component coming down quite quickly, look at the price of natural gas in europe and also look at the price of oil, but in an environment shaped by supply constraint going beyond the energy market, we are actually expec