no one else would you be looking at honestly speaking to the c.e.o. or to syncrude without merger with tata steel to make the second largest european steel company at a time while a very difficult time for the steel markets are at that story coming up in one minute. there is no longer. my managers to know who to day. you know the banks to mine and so was the language of the bank money. speaking the truth global news that matters w made for mines. stress in your seat belts.

look at the. movie. trouble guarding w. . at the. chaos in merkel's coalition makes for an uncertain mood on the markets european stocks slide as investors wait to find out whether germany's interior minister will resign and a showdown over migration coming up. to some koeppen ta-ta steel confirmed that time up to make europe's second biggest steel group facing down competition from china about four thousand jobs all set to go in the process we'll be speaking to the c.e.o. club. and the e.u.

and australia are all talking at trade today with grave sites hoping to draw up a fruitful free trade dealing with. bass is your business update i'm heading home free agent thanks for joining me well the ongoing political crisis here in but it is a lawmaker vestas and business economists all concerned that were the coalition to collapse it could weaken germany's business sector experts fear that important factors that germany's future for example the development of high speed digital infrastructure will become bogged down in political wrangling and of course as europe's largest economy germany needs a strong government to negotiate in trade disputes with the united states and china earlier i spoke to mock marco boggo he's the chief economist at germany's possed bank and i asked him what further uncertainty in the german economy could mean for the stability of the euro zone you know of course we would also have another

negative impact on the other you countries or e.u. countries when germany's growth comes down because there's very close trade relations between these countries and also on the other hand we have. maybe some sort of postponement in new e.u. reforms which are quite necessary given the vast. imbalances we have seen in the past years so if we see another crisis and we don't have any more economic referring reforms on and you basis or level than the might end and maybe even end of it break up of the in you or you. the thoughts that all of the chief economist of germany's pasta bank that it was a deal to gays in the making german industrial giant to some koeppen india's tata steel automotives they european steel making operations that's high up which still needs regulation the approval is conceived to take on the flood of cheap chinese steel unbalancing world markets. the joint venture comes in response to the problem

of overcapacity on the global steel marcus' the new firm which will be known as to some crop tata steel will become europe's second largest steelmaker are. paid if this is really the key issue to move successfully for the global existed as if he had also cost tremendous additional imports into europe imports into your about an all time high level which have additional increased the price pressure on that material. it's hoped the tie up will lead to hundreds of millions of euros in savings each year and satisfy investor demands for increased efficiency the marriage firm will employ some forty eight thousand workers in countries including germany the netherlands and u.k. and six specter to generation annual revenue of around fifteen billion euros. you just saw a head of a he's ing at the c.e.o.

off to sit in that report and we can speak to him now he joins us from brussels welcome to the program let me first ask you why this move now. i think it's not now you probably will come back to the pond did took us roughly two years to go forward what is the root cause here we have a structure over capacity for steel in europe and as a consequence out of that the utilization rates for all the steel companies were not high enough to really chinoy directive returns going forward and for our employees they were forced into restructuring programs each and every three to four years so we finally want to address that issue so we had four elements in mind one is that you dust a lot cheek take over capacity and solve that problem secondly generate significant value for our shareholders which is given by the four to five hundred million

synergies but also give a more reliable more promising future for the majority of our employees and the fact that we remain a fifty percent owner is also good for our culture so it's been a stain of a package going forward by another name that is the problem not china and overcapacity of steel. i think we have a global excess capacity but one is clear we cannot solve the issue of china with the european merger but we can also not only let's say put the finger on china if we are not ready to do our homework so the civi is really addressing the structural overcapacity problem in europe the chinese problem need to be solved in china as you point out there are manifold problems facing the european steel market at the moment one of them is the terrorists the united states slapped on european steel how is this affecting your business. i think we

have to distinguish between the direct impact and the in direct the direct is the volume which we are delivering in to us luckily in our case it's only three to four percent of our sales so we don't like it but we can manage it i think or be but also the other european steel companies are more concerned about the indirect risk if all the volume which is not anymore allowed to go into the u.s. might be redirected into the european market we have already an all time high of imports into europe if this will be a good come in addition then hopefully the european trade commission would find appropriate measures to protect our industry here so they in direct risk is higher for us than the direct one what all of those measures what would you like to see happen. i think i cannot speak for the great commission but naturally if a country is closing the borders i think the need to also be appropriate measures

to ensure that we have a level playing field we are not shy of competition but competition need to be done as i said on equal terms briefly very briefly you understand around four thousand jobs is set to go in the prices of this merger what will happen to those employees . if first of all i think we have given our long term commitment to a more than forty thousand employees commitment for eighty years i think this is a unique in our industry but on the other hand we are one is saying in order to achieve the four to five hundred million soon a cheese broker be on either side up to do sellers and shops probably will go away but both companies in the past have all this done it in a socially responsible way so we committed for example in sherman e that will not have forced layoffs right hind they ceasing as c.e.o. of to sync up thanks very much for coming on the program. thank

you. asian investors have started the week tentatively as they prepare for the u.s. to impose hefty tariffs on a range of chinese imports the levies on billions of dollars worth of goods are due to come into force at the end of this week they follow on the heels of data published over the weekend showing that chinese manufacturing activity slowed in june as the walls number two economies show signs of a slump. now the european union and australia are meeting today for talks aimed at reaching a free trade agreement the negotiations come as the u.s. adopts an increasingly protectionist starts leaving its traditional allies looking for a new economic partner and one group of people who will be keeping a close eye on what goes on our australian wine grows. with only three hundred inhabitants qualifies as a town by australian standards it is a two hour drive north of sydney and at the end it's

a small vineyard. peterhof and his wife have been running it successfully for the past three decades. we are in the middle of the hunter valley southeastern australia's second largest wine growing district its winter a work intensive time for peter the great funds have to be pruned but we need to wait for the volunteer become dormant and for that we need water to frost so usually it's mid winter before we get the frost for the orange to go to sleep unlike other wine growing districts in southeastern australia there's still little mass production in the hunter valley the region is known for its high quality wines only a small amount is being exploited many regions of the world seem to protect themselves against foreign winds through restrictive tariff barriers one of those trade barriers would be coming down. it will be probably very good for the hunter because

we are warm climate and we have sure rez samy on now shiraz does not like cool with it loves the heat where there is no way we can produce a reason to go something to compete with the german one so that would be a waste of effort trying to compete with the those german wise but no we need to export but that only makes sense if they have more customers and they are hoping for plenty in europe. trade between the european union and australia is not that easy it involves a lot of paperwork sometimes it's even harder to export something like wine from australia to the e.u. because wine exporters do not only have to obey the e.u. laws but the separate laws of the different twenty eight countries as well and that might change in future not only for australia but for new zealand as well now

better late than never they say in tesla chief you know musk has met his goal the electric car manufacturer has managed to produce five fountain of its lower priced model three sedans the last car rolled off the assembly line at about five am on the first of july just a few i was off to musk self-imposed deadline he wanted to make that number of cars by last december but had to postpone due to technical problems. today you see. them coming. up.

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a movement. that thinks differently. about. taking stock of the rapid changes at play in the german couch. with the shower special on. sixty minutes. birth. home to millions of species a home more saving. which is on those are big changes and most start with small steps global one thousand years tell stories of creative people and innovative projects around the world like news has created

a climate boost green energy solutions and reforestation. to create interactive content teaching the next generation about environmental protection and more determined to build something here for the next generation global ideas the multimedia environment series on d. w. . i have down benedict one welcome to pop explored the place the beef all things german pop coming up on today's show.