years to complete but soon as many as six hundred people will be riding it to the top every hour. thanks for watching your daniel winter we'll have your business headlines coming up in one minute. when i'm traveling to be comfortable. but i also want to stay up to

date on all the latest news events. and d.-w. makes them part of traveling easy because it's available and thousands of hotels resorts and cruise ships worldwide. or have you found a domain sign on the subject that shows d. w. in your room you can read a great price or two d. w. dot com travel quiz. the sky is the limit for love titan's are it's likely the airline will get the green light from the e.u. to take over parts of today but will the deal punish consumers also coming up. donald trump says his new tax is a crisp. to the u.s.

but if americans didn't ask for. this is your business update. it looks like clear skies ahead full of tons of with brussels set to approve the german airlines partial takeover of. yet lost hands or grows so do concerns that it could become far too. opportunity in the demise of its one time rival with barely passed the faction carrier could take on new groups as well as the aircraft and employees to service them. it's a originally proposed to takeover that included two subsidiaries that plan sparked e.u. concerns over competition tenser responded last week with a more modest proposal dropping the purchase of austrian flyer nicky all together and instead of the original eighty one aircraft it wanted to buy it would now buy just sixty a green light from brussels raises other questions first among them who will buy

the airline nicky which remains insolvent there are already a number of interested buyers including the original owner former austrian racing car driver nicky lauder yet another decision for a turbulent european airline market. is in frankfurt for a semester if the deal does get the green light the e.u. would be approving a monopoly on some routes is that a cause for concern. well it might be a cause of course of concern to consumer protection groups that was saying their concerns already now because what we're witnessing currently is that the prices are actually going off for certain routes inside germany the phones are saying that's because demand is so high and they couldn't add already more carriers to those rules having said that if they are winning what is mostly expected widely expected

the average parts of belin and that goes through the competition authorities then those capacities will increase once again and so i think what brussel is doing that going forward is they will monitor the pricing policy off love turns out quite carefully at the same time and what is said to remedy the situation is that lufthansa is set to pull out from their rights to. parts of their rights to lead and be part of. collapse as hit all the businesses hard as well the likes of hotels and museums. yes and that's especially the case of course in berlin germany its capital which was a service quite a bit by air berlin so currently the touristic authorities are saying that tourist volumes are down by six and seven for spend respectively in november so

it's quite a big deal for for berlin for the hotels but also for musicals and theaters going forward that should be remedied though if tuns has taken over those capacities and then they will also increase of course their flight volumes into berlin to look tons of hoping to meet demand and survived on the sunset strip exchange thank you very much for the. the irish union representing ryanair pilots says the threat of industrial action has receded that's after the company confirmed in writing that it would recognize the union for collective bargaining purposes the impact union called off plans strike auction action last week after ryanair announced it would recognize trade unions for the first time in its thirty two year history but it said it would reverse the decision unless written confirmation was supplied. it's a big win for donald trump the u.s.

congress has finally voted in favor of a big presidential campaign promise tax or for advertised as a christmas gift to the american people the new bill will likely not be signed until after the new year that'll delay potentially painful spending cuts until after the mid-term elections after all the controversial form is not very popular economists say that most of its benefits go to large corporations and the wealthy or as low and middle income earners will likely bear the greatest burden. cutting taxes has been republican orthodoxy for years the argument goes that businesses the spend less money on taxes we use those savings to create new jobs and fresh investments experts say that hasn't occurred with past cuts in the united states has tried to do this cut taxes corporations and hunker individuals and expect growth has not happened yet and so this is another experiment and see if this works the. history is not regard for the new cuts go further than ever

before republicans say that economic growth from a post tax cut supercharged economy can pay for the one point five trillion dollars price tag analysis shows that's almost certain to be untrue no credible outside analysis has found this to be true at best what many analyses show is that we would see a nischelle bump of growth in twenty thousand and twenty nine thousand but after that it would start to falter in the long run it wouldn't have any meaningful benefits for the pace of economic growth the bill isn't even a finished product tax analysts say glitches and drafting errors are likely to be found in its text much as they were an older versions that means future rewrites other aspects of the bill expire raising difficult political questions as beneficiaries see their taxes rise again the fact is the way it's structured means lawmakers are going to have to keep revisiting its provisions for years to come so

while president trump and his republican allies take a victory lap it's likely that this is just the latest stage in the marathon debate over u.s. tax policy. i'm going to get more on that now in the studio with me is last how to business reporter at last while wall street correspondent as well donald trump can finally breathe a sigh of relief oh absolutely it hasn't not too much has worked out for him in his first year in office obama care repeal didn't work out building the wall this is now the first big campaign promise that he is actually delivering on and it's not only important for donald trump to get the tax reform through but for the entire republican party they have her at their own fights with their president not always agreeing with them but one important thing they wanted to do with him and that was tax reform and now they got that but it's a big one so the republicans got it got that tax reform but at what price at a huge price in many different ways first of all financially this is blowing a huge hole into the budget debt is going up by about

a trillion dollars in the united states that is a ridiculous amount ridiculous specifically because the republican party stands behind this entire concept and maybe that is the bigger problem for them the republican party stands to lose their reputation that they're always held on asked the fiscally conservative fiscally responsible party that wants them on trial for generations and this bill if you read any and all the analysis by any of the economists is just not the fiscally responsible bill because it goes up the debt and does it really only benefit corporations and wealthy people a lot of people saying it's trickle down economics and we've long synced suppose discrediting that economic theory well you have to discredit it because it doesn't work it has never worked and the whole trickle down idea that you gift tax cuts to corporations and then they hire more people or pay higher wages that has not worked

and we know that it's not working that nobody is planning that companies hire people when demand is up for the products and not because they have money lying around somewhere so it will not work. and the tax cuts that we're now seeing of course they are going mostly to wealthy americans and to corporations though when they go to corporations they also of course benefit shareholders but down here who are shareholders mostly also wealthy people or at least upper middle class poor people low income people don't even have the money to have a stock portfolio so they are out of that equation as well ok briefly if you can why is the bill not going to be signed until next year what has to do with the midterms coming up this year because delaying the signing off the bill delays some of the painful spending cuts to go into effect next year twenty eighteen and we know those will be painful whether that is social security or medicare medicaid any of these programs we're going to see huge cuts and if they happen before the election the republican party knows that they will come back to hurt them ok the

true effect of this bill is still gets to come thank you very much for that analysis now it's hardly a new accusation but officials in china are upset after the e.u. called the country a distorted state run economy the union has also threatened to use tougher measures to fight against the dumping of cheap chinese products on global markets china calls the e.u. was remarks about its economic development thoughtless the e.u. had given china's special attention in a report on how its economy is distorted by the state omen. the report by the e.u. makes irresponsible remarks about china's economic development fabricates excuses and develops discriminative and just restricted to measures towards china it doesn't mention its own acts that violate rules this way of comedy using double standards is really hypocritical hewing. the report states that beijing

excerpts a decisive influence over the allocation of resources and influences prices in a very significant manner it further defines that selling product for export at the load a message prices is considered dumping the e.u. sees such dumping in chinese exports of steel aluminum chemicals and ceramics. and on that note business update. social media. business website dot com i'll be back in the next hour with even more business although until that.

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surfers fighting against unseen pollution the city starting in january seventh on g.w. . it's . funny i don't think it. tells them too and i make. them tell of the famous potato. welcomes a year max thanks for joining us for this seasonal special week today we focus entirely on wind to food and drinks out.