now upon their intended simply because the chinese want cheap oil to power its economy all right all those stories coming up a bench as a one in one minute don't go away. or not or probably will not succeed in dividing us so that all not succeed in taking the people off the streets because we're tired of this dictatorship. taking

the stand global news that matters. made for minds. stories of people who world over information provided. the means to want to express g.w. long facebook and twitter up to date and in touch follow us. in the e.u. when a trade war with the us neither side blinks following to attack tire of some alast say no when it. approved deal china lends venezuela a helping hand investing in its saving the oil sector analysts say the deals more about powering the world's second biggest economy. and

a russian reform economists made like all the russians was. ready to work a little longer. and then what let's do business to germany to uncle americal says it's time for germany to try to avert a trade war with the united states to terrify kes from washington by e.u. levies of its own the next in the firing line is germany's treasure of sector is the chancellor. it is right now we're witnessing something full to which we've always considered a constant namely the role of multilateral organizations we now have tariffs on a limb in yemen still and we have a far more serious issue to should levees be raised on cars imported to the u.s. . involved with and ladies and gentlemen and all of this has the traits of a trade conflict i'm not ready to call it anything else just yet but it's a lot but it is worth putting all our efforts into trying to diffuse this conflict

before it does become a war that of course both sides have to be involved in over that's moving and that's really why is it. members speech came as european commission president heads to the u.s. for talks with washington the e.u. has a lot to lose in the trade conflict one compelling reason to stand together but analysts also say without reform the block is true week to win big battles. so is the e.u. ineffectual and bogged down a visit to athens might suggest otherwise after years of financial crisis greece with the help has turned a corner or so says european commissioner pm must give each. receive. on two feet. so that in. europe the city. those european partners now have three other economic headaches to deal with first

italy which is sitting on a mountain of debt some two point three trillion euros worth saving italy might prove an even tougher job than greece could this mean and it's alex it. then there's brics it britain is waving goodbye to the e.u. but what this will ultimately mean is anything but clear how much of a handle does brussels have on the situation and its costs. and last but not least donald trump he's threatening tariffs and the e.u. use valley to strike back with levies on some two hundred fifty billion euros worth of u.s. exports joining forces against trump for the e.u. that could be a show of solidarity and strength. it's talk about this with our financial correspondent in frankfurt conrad what sort of financial or fighting position is the e.u. actually in. as of course

a very difficult position let's not forget that the europeans to have a lot to chris to try to size because of the china some of those you know business practices policy practices they're one aspect might help the europeans when they talk to the united states if you include services financial services for example or the business of the large american internet companies then the european union actually doesn't have a trade surplus with the americans it's the u.s. who has a surplus this of course this aspect should be included if you talk about just and fair solutions in trade now here's a funny sidelines of the whole trade dispute trump has been very critical of harley davidson for wanting to pull out some of its production out of the u.s. and move it abroad to keep these europeans herefords. but trump is attracting internal ones to attract motorcycle companies from abroad the very companies that i guess he wouldn't want to be doing business in the u.s.

i don't know explain the situation to me. yes there's a certain irony in this as we're talking about companies coming from china from china from japan from germany you know b.m.w. produces motorcycles but this is probably not the aspect which is more most important to trump he wants to create more manufacturing jobs in the united states he's not interested in the well being of american companies per se the spat about harley davidson has shown this interesting stuff they're going to boozing with the analysis from frank before it's. china is pumping more money into venezuela and the venezuelans continue to pump crude at rock bottom prices to power the globe second biggest economy the south american nations oil sector is ailing and desperately needs a cash injection the china development bank is investing over two hundred fifty million dollars billions more could be on its way as the country's discuss

a special low prices for convinced way there is don't buy corruption mismanagement and stolen in basements and there's little foreign currency around aging is now its main foreign investor over the last decade it's lent us a total of sixty billion dollars which the government is we paying in oil supplies or what andrea hang our asia correspondent on the line from singapore how is this still going to help venezuela. open this two hundred fifty million could help them to be led ramp up production in a very pretty to conditions at the refineries could also cover the site these high production costs etc it could also even weed out the rampant corruption in venezuela's oil industry as you mention this is part of the five billion dollars credit due that china already has been as we have which is possibly the start of

some improvements in the industry considering all those huge numbers you're throwing around does china now basically own venezuela's oil industry. virtually does been china is formally you know venezuela's biggest customer and it's also its biggest creditor over the last ten years in fact as you mentioned china has ploughed in more than fifty billion dollars to venezuela as an oil slick off a loan agreement in order to secure what's happened to venezuela's reserves and secure energy supply for china but that seems to be doing thing at the same time china's getting really cheap oil. it is for now but it won't be for long in fact august loading prices are already up independent chinese refineries have been told or have already begun looking for alternative supply and that's going to be mighty expensive also on the line p.b.s. which is the venezuelan state oil company is facing legal trouble as well as having

some struggle shipping oil existing oil orders to china due to eighth in essence in the caribbean ports in terminals and really briefly what about china's experience finding corruption could it help out they. very well could if it could do it in china it could help boost any kind of any kind of situation in venezuela it's so desperately needs underwriting thank you very much for your analysis politicians atory as for saving disappointing announcements for a busy news days and just as football's world cup rolled around the russian government said it's pushing up the official retirement age well come for naught the reform is facing resistance you know we use sort reports. it's been a long day and older plate minge of a needs a cup of tea after thirty years of working as a hospital doctor she was planning to retire next spring and just on

a bit on the side but now the fifty four year old fears there's little chance of that the russian government wants to gradually raise the age of retirement from sixty to sixty five for men from fifty five to sixty three for women. they don't notice the money my pleasure but the most it's turned everything on its head i want to change of jobs yes i'll focus more on myself and less on earning money it's finances their annual growth. and she's not alone russia has an aging population and too few people paying into its pension pot the retirement system needs an overhaul. the government wants to modernize the country but needs to invest more in health and education as communication choices can seem a little in that doctor to announce the retirement reform at the start of the world cup hoping perhaps that the football tournament would distract people from its

intentions these two. it's a puzzle it's mum. the form would enable us to increase pensions and create something like an inflationary adjustments the kremlin has otherwise kept quiet on the issue president putin appears keen to distance himself from the reform. process we can see the trade unions and opposition politicians believe he's the one behind it all you know they've organized demonstrations and collected millions of signatures in protest of the us more. all of the pension reform as a way of stealing our money for much zelig new designs called reform is making citizens poorer we will do everything to prevent these measures from being implemented on the most which is the meter. column and has to give its approval before the reform can go ahead and not all members are in favor independent analysts also skeptical.

speaking as an economist such reforms are only necessary when you have strong economic growth youth or not enough workers. neither of which is the case russia's economy is sluggish and the country has a huge workforce and few businesses actively hi older people so we'll all go platinum schivo end up having to work a few more years in little. used because of everything my generation has seen but i really don't hold out much hope for good news. and if the reform is implemented it will hardly bolster people's trust in the russian government. western business.

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life style you of. the moment. oh boy oh boy. oh boy. they live to surf much. danger lurks in the water we were there all your own surfing into waste and and polluted water not only being the witness but a kind being victims i mean was it your troubles or gastric troubles. basically in this case it was always most in fact coupled with a measure unfolding i was once in a shelf. job human sewage completely untreated i'm stone walls are coming out of these frights considering about an absence of want to call most must

try me yet sas. recently didn't want to go somewhere every day and seems more more . robbie sheets tiniest pursuit gives me everything the waves the wind i have to give something back i feel obliged to do the ok to miss him too many of those. waves surfers fighting against unseen pollution in the city starched july fourteenth w. . i want to welcome to another exciting edition of your max with me your host meghan late from surfing has fights to sing your heart out we have a mixed bag on the show today here's a look at what's coming up.