landfall on the u.s. territory of puerto rico and it's been downgraded to a category four the capital some one has been pummeled by top to wrench the rain a powerful winds in the strongest storm to hit what a ricoh in living memory that it left the island of dominica stream with debris the government there said most housing had been significantly damaged or destroyed and at least seven people i'm known to have been killed. the deadly news still to come the merger of two giants d.w. speaks to the chief financial officer of germany's tousen group about his company's proposed merger with india's tata steel to how many jobs will have cost. that's with benches it was to make. sure that people for t.w.

on facebook and twitter. to date and in touch. follow us. yeah. and i think one day this war will be considered a cruel and unjust war over. and certainly all citizens of ukraine every man woman and child is she not the only friend their homeland of the enemy invades. no one wants russia here and on the eastern which is the. rebel against the mighty global news that matters. d.w. made for mines. a mega merger in the steel industry germany's tousen corp and india's tata agreed to a joint venture how will they size up to the mighty china aids. and conflicted fed

prepares its policy update a big test for the us dollar. i'm paying for school and let's do business the scene is set for a jobs battle german industrial giant to some corp is teaming up with indian group tata emerging this steel operations in europe it's the result of a massive global steel glut the news has sent governments scrambling to save jobs. protests have already begun at this to some coke plant where workers have set up a vigil for the jobs they're afraid to lose two thousand in management and another two thousand in production split evenly between the two companies some fear these cuts are only the beginning. here not in the form i don't expect much good to come out of this it seems that after initial cuts there's also a restructuring planned but probably not the problem is that we have to shoulder the burden of the merger we definitely stand against this if we can't stop

a merger at least we'll try to get as many concessions to workers as possible. joins us which this most important for us is how many jobs will be left where they keep all the plants open can we get our trainees into employment that's what we're fighting for. with workers worried to some cop c.e.o. highly he's inger is defending the move. in your line of mine if you can if we had continued on our on the risk to jobs would have been far greater and the extent of restructuring even farther reaching than without the joint venture ventures if that's because cheap steel imports from china have been challenging the european market in recent years and while just won't break the top ten of global sea of producers even after the merger if there will be a better position to in europe set to produce twenty one million tons of steel per year that's a clear shot at second place tested only by luxembourg's our sell on mittal.

markets responded well to the merger news with shares for both companies rising on the prospect of six hundred million euros in synergies also the two companies complement each other well tata strong and industrial steel and to some cope in steel for auto manufacturing. he joins us the chief financial officer of course if the german firm is turning its back on steel. no that is clearly not the case i mean take a look at the history of to some crow as the name already to some trouble as a result of mergers coming from the past it was towson and was crap it was first it was run style and we've seen over the past that mergers happened to address all the issues of over capacities in the steel industry in the past this now for us is the next step of a merger addressing the issue of over capacities the stable to a bit we could amanda in europe so we think together with tata who is moral as the

same cultural values as we have in our company that this merger will allow us to address the challenges in these markets a lot better than do it stand alone so if there is a little kind of create this number two in europe ok so it is a kind of survival strategy and as you say you hope to create number two in europe i know that the c.e.o. of tata chandrasekaran has called this merger just a few moments ago a momentous occasion tata steel is of course a major rival also of to some corp what exactly are those synergies that you're looking for. you know we're looking to four hundred to six hundred million of synergies and you know lead to achieve in the merger and the phase one we definitely see synergies in general administration but in the production side as we do it as well we definitely think on r. and d.

on procurement but on better capacity utilization as well across our assets that we will then commonly share we can have a better position and realize synergies we couldn't realize each of us standalone and therefore we think with that this will have less impact on the employment than we would have if we were to can continue both standalone you just built the perfect bridge there for me because we do hear that some four thousand jobs will be lost how do you want to handle this transitional period to work well for us well i think again four thousand in that period of time to come given the base of forty eight thousand is by far not as big as many have expected to come and again if we see work reductions we have taken in the past and we would have to address found alone i can clearly say that would be bigger numbers i think a lot of the threats which we couldn't address so far on now open on the table and

now we can work out with the employee representatives across the regions what that means and how a plan will look like how we can realize this from my personal expectation i must clearly say i think this is a situation that is not good no job losses or redundancies are good but that should be handled it's something we can handle given the size of the two companies and the timeframe we have to realize it keeps the national of sort of titian cope ttyl catcalls talking to my colleague monica jones there delving into the reasons behind this i asked analyst david buick if the business is no longer profitable. the fact the china manufacturer is reams of steel plate and you see it sitting idly in many of their warehouses tells the story because they can produce it felt cheap for the novice but there again we've got a world problem to deal with and when you look at what they've contributed something over six billion pounds since two thousand and two threaten to close down

the portal but still works and other still works around the united kingdom which would have been an absolute disaster area so this deal frankly is manna from heaven ok the seven thousand jobs in south wales four thousand i'm at as i understand it point told that two thousand jobs have to go and two thousand jobs supposed it will go to to syncrude though i suspect that mattel the trade union will have an awful lot more to say about it than perhaps we have over in this country but it will do and they cannot cut in as easily just having to go to the important it seems to you know i think so i think it's inevitable to be honest with you but if i could just cut in here very quickly and say i think what comes out of this deal more than anything else is the understanding of industry business and call most of the problems the brics it offers which the politicians refuse to understand they know that the united kingdom is the second largest assembly of cars next to germany and

wouldn't it be great to be able to take optional matel on in their own backyard as the second largest steelmaker in europe and i think it makes huge sense and i'm glad to see that both sides see the benefit of a deal of this nature david buick that the u.k. is preparing to off a twenty billion euros towards its brags that to force bill as according to a report from the financial times london is not yet confirmed the figure i mean is the tories amaze expected to make the announcement friday in florence the e.u. says the u.k. of set up to one hundred billion euros as part of the brains of process the issue is a major source of friction between the two sides. only days after casting thousands of flights over stuffing issues ryanair is offered pilots a bonus of up to twelve thousand euros if they agree to work just an additional ten days the discount carrier is in damage control and this is a major p.r. disaster stranded passengers others not knowing if their flights are affected and

many are able to get a refund or compensation the airline says it's now allocated replacement flights for more than half the customers whose trips were cancelled late last week but many more have since been canceled and the costs for the company keep climbing. financial markets are looking to the u.s. today investors awaiting the conclusion of the federal reserve's meeting for clues as to whether a third interest rate hike is on the council. economists say the federal reserve is unlikely to announce a rate hike today it could instead begin to unwind its massive four point five trillion dollars bond portfolio those assets were purchased by the fed during the financial crisis as a stimulus solid job growth in a stronger economy have recently pushed the board in the opposite direction it has already raised interest rates twice this year we conflation remains a concern the fed is expected to raise rates again in december global investors are also awaiting the news out of washington the booming u.s. market in a weaker yen or positive signs for japanese exports in particular japan's nikkei

exchange finished tuesday on a two year high the nikkei was quieter wednesday as well markets across asia traders are acting with caution before the fed announcement i asked our financial correspondent daniel cope if the fed is waking up to the fact that it's stuck in a low rate era which could be even longer than many thought. well that's exactly the question that many people here also on the trading floor are raising at least in the united states we have the situation that they're considering to stop this bond purchasing program you know it's a completely different scenario here in germany mario draghi didn't give any statement during the last e.c. be meeting you know regarding this issue and investors here basically are crying for you know a change and they're saying you know the euro the european economy is so strong ok inflation rate we heard yesterday is not doing that well but forget about that you

know the economy is so strong why is still all this you know action going on basically. the trump administration is preparing to make it easier for american gun makers to send sell small arms including assault rifles and ammunition to foreign buyers or is news agency reports the changes could be implemented without congressional approval president donald trump wants to shift oversight of international nonmilitary firearm sales from the state department to the commerce department the government says the changes would cut red tape and regulatory costs boosting exports of small arms and create jobs in the u.s. . last doing business with you i'll see you again very soon here on to the.

jury the conflict zone fronting the powerful. this week on your job is a long good day closer to your night trade union my guest is the union's general

secretary leavitt makowski to some nice hard life activists to voice to capitalism of the trade union leader who simply wants to bring about a fairer and more equal britain what's the truth. now. with. stories of people who were rolled over information from. the unions they want to express g.w. on facebook and twitter up today in touch follow us. concentrated solar power consists of using mirrors from your solar drive year from concentrate it and then you'll see it just like in a coal fired power plant to generate electricity. the energy in efficiency

can be improved also further by having my p.t.o. thought can function like even higher temperature because that's unlimited now you can only concentrate on what solar power before might be there to begin to melt. concentrated solar power it feels more expensive about fossil fuels but with a new technology the whole base of the price will be brought down. this week conflict zone is in london at the headquarters of the unite trade union the biggest and most powerful baca of britain's labor party and its leader jeremy call been to my guest is the union's general secretary len mccluskey just some he's

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