come as g seven leaders gather near a quick back in canada get elvis takes a look at the summer's economic and trade implications. here how about if he's business updates in just about which i'll be back with you at the top of the hour any time haven't. you accidentally shed some trying to get to the truly. stunning time in the field. how can you get out. with him because of that knowing seeing. the shift this week on d w. it's all happening. pretty. sure link to use from africa and the world. your link to exceptional stories and

discussions opinion will come student news after getting program tonight from bernie jenny from the news of museums and wild with say d w two it comes to africa join us on facebook t w africa. and. the g. seven summit is getting underway in canada and that massive trite tensions between the u.s. and its partners including between donald trump and french president my call so far only on twitter. and could imagine between germany's two biggest lenders be on the cards with the old suggest a dodgy bank wants to revive talks with come out spot to create a more solid player in the global financial world.

this is g.w. business live from berlin i'm going how the office the g. seven summit kicks off today in quebec canada every g. seven summit of course is watched anxiously by many stakeholders around the world but this one comes at a time when the very concept of free trade is under threat the leaders of seven globally influential countries are taking two days out of their schedule to talk shop all the nations together responsible for more than sixty percent of the globe's net worth no wonder the current trade tensions are high on the agenda two of the participants are engaged in a fresh and rather serious public spat via twitter french president or says that six other countries could go it alone on free trade without the u.s. his counterpart donald trump rebuses the common saying it's the likes of the e.u. who are responsible for unfair trade many hope this summit will yield results that ease tensions between mainly the u.s.

and its biggest trading partners our correspondent phenomena is covering the summit for us and joins us now from there the argument there that we've heard about is heating up does this summit increasingly feel like a last ditch effort to avoid an all out trade war. this topic is of course of stay on top of the agenda here and this is a particular important topic for the europeans here they match on the sidelines of the summit and seem to have agreed to have a joint structure g how to deal with the president and his protectionist trade policies they want apparently to push for references to free trade rules and remains could be signed here to morrow and it shows there are apparently not believing anymore that it would be possible to convince donald trump

here at this g. seven summit to change his trade policies and we know talking to the you asked a geisha that donald trump is determined to continue his aggressive trade policies which is not just donald trump against the rest of the world is it one of the battle lines that are drawn at the moment. well you know there are always differences and disputes when we talk about trade and this was always the venue for the richest countries in the world to coordinate they trade policies and to reach agreements and at the moment i have to say that it's really the g. six against the you ass and it's particularly the europeans who are trying to show a united front to confront mr trump and he's trade policies well we shall see how that plays out the next two days and some of phenomena there in come

about for us at the g. seven pts. well it's all the acrimony over trade let's get something straight when donald trump keeps complaining about the u.s. trade deficit with the european union he's conveniently leaving out a huge part of the equation let's call that part the facts fairly even data released by the american department of commerce paints a very different picture it's true the e.u. exports around one hundred fifty three billion dollars more in physical goods to the u.s. than it imports in return but when it comes to services like banking or insurance for example the opposite is true there the u.s. trade comes to one hundred seventy six billion dollars so when the imports and exports of all goods and services are taken into account drums deficit disappears altogether in fact it turns into a surplus of fourteen billion dollars in favor of the u.s.

it's just not a fact it's. come back to germany where the chairman of deutsche bank part reportedly been taking sheldon's temperature about a nerd share with competitor comments buck according to bloomberg talks have not reached a formal stage the two biggest german banks was said to have broken off merger negotiations two years ago speculation is growing about a possible marriage of the two biggest german banks since private equity companies settles capital took a share in both bonds. and let's bring in early buyouts our financial correspondent from frankfurt. and come out spring two of germany's financial heavyweights the two biggest lenders getting together is that a good idea early. i think it is least according to most of the people i've talked to because one of their number one problems is cost and they're way

above what comparable banks in europe or in the international realm are having and if they merge then of course they could reduce costs drastically much more than they can by themselves they're already restructuring slashing thousands of jobs but together this process would be accelerated accentuated and it would help them but probably yield more profit the downside is there are would be jobs getting lost and integrating a merger is always difficult not guaranteed to be successful in the end because of the people involved. the further evening here in europe just wrap up the week for us how was it. it was a lively week besides deutsche bank and come out funk there was a merger talk with the unit credit and societe generale two big european banks they

might exploit each other's strengths it was told no confirmation there then there was the trade dispute between donald trump in the e.u. the e.u. levying tariffs on among other things bourbon and her davidson soon and of course the european central bank its chief economist spelling out that the e.c.b. would soon talk about ending quantitative easing that is all that bond buying all that money. put into the economy that sent the euro up and shares down a lively week the docks at the end of the week pretty much unchanged compared to last friday only advance and find things for this ramp up. argentina and the international monetary fund have reached an agreement for a three year fifty billion dollars standby credit in a range that the government says it sold financing to provide a safety net and void the frequent crises of argentina's past the i.m.f.

board still has to approve the bailout low the deal marks a turning point for argentina for years argentina shunned the i.m.f. after the economic crisis of two thousand and one two thousand and two many argentines blamed that crisis on austerity measures which the i.m.f. had demanded and they took to the streets again in protest against president treason a go she ations with the fund sergeant tina requested i.m.f. assistance early last month after its peso currency weakened sharply in an investor exodus the chairman of the central bank and the finance minister announced the deal on thursday it was. stunned by we've agreed on standby access the amount of fifty billion dollars this is eleven times greater than argentina's quota which is reflective of the support of the international community for argentina it's very good news the integration of argentina to the world which allows us to have this

level of support. but it means that. if i need to. the agreement will hold the argentine government to its promise to reduce its deficit to two point seven percent this year the government will also send a proposal to congress to reform the central bank charter and strengthen its autonomy duke of me said the country aims to be in surplus by twenty twenty. well as largest furniture company is stepping up measures to reduce its environmental impact sweden's ikea says its products will be made from sustainable and recital materials by the year twenty thirty and in the next two years it plans to remove all single use plastic products from its in-store snack about. others good news because today as well oceans day an initiative by the united nations to help us better understand the big blue blanket that covers seventy

percent of our planet but in recent years this blanket has come under threat mostly from plastic pollution some eight million tons of plastic washed into the sea every year. five gigantic marine plastic garbage islands float around the world's ocean currents. the great pacific garbage patch drifts between hawaii and california it's four times larger than germany. happily the floating quagmire could get something of a purge this summer. the ocean cleanup is the brainchild of churchmen boy and slant it's a boom which drifts more slowly than the plastic which collects along behind it to be recovered for recycling to clean up this it will automatically gravitate to those places where most plastic it's and that now causes the efficiency to be a lot higher because there's just more plastic in front of the system and therefore we can outplay you have fifty percent of the batch in just five years old.

collected over thirty million dollars in donations to develop the ocean clean up it's already been tested in the north sea if it's successful in the pacific it'll be employed against the garbage carpeting other oceans as well. but that won't solve the root of the problem that will only change when people change their habits producing and using less plastic and recycling what does get made more efficiently . be a good idea and that's it for me and the business team here in berlin harvey i guess we'll have a formal course in the next before you go. check on this thank you. scott.

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it comes to the fans of the film and to see the right to fold who have decided to put their trust in us the name is johnny carson edward at the top of the. alone a very warm welcome indeed to focus on europe with me peter craven and we begin in italy which finally has a new coalition government a coalition however that blames brussels and above all burley in for italy's world courts war both coalition partners the anti establishment five star movement and the far right league say they're going to say.