a moment. carol l. first is up next now see you at the top of the hour with the latest headlines. look. great yourself with d w's interior design channel on you tube. and. this is. somebody who is my hero but it was also here that everybody around the world is named to. me being. a good

genes from news of the world to this day. in age using your hands. on the one hundredth anniversary of his birth the legacy of nelson mandela. july eighteenth on t.w. . at the. song red good news from germany's top lend up georgia bank says its second quarter earnings will exceed their expectations to share as sauron the news bob many analysts remain skeptical saying that much more to do for a new c.e.o. christiane saving. the e.u. were just the u.s. china and russia to ease global trade tensions warning that could spiral out of control at the e.u. china summit in beijing both sides oh. it is step up their trade top. this is

g.w. business live from berlin and as welcome for change some good news from georgia bank germany's biggest lender says it will make a second quarter profit of four hundred million euros far exceeding analysts expectations that impressed markets and sent its share price soaring new c.e.o. christiane's even is restructuring the bank cutting thousands of jobs and shrinking its investment of dividends that has led to lower costs and spending on legacy litigation is also down savings says the higher profit shows his reforms are working banking heard a huge full year loss last year. but there's still a lot of ground to cover for the budget bank and its new c.e.o. before the share price can recover properly as our financial correspondent only bartz reports. but your bank not only held onto its game thing about seven percent higher. price but also it's above the level for the first

one since the month of may and that's when they're buying to investors who are waiting for the dark a bank in the market. but the fair. warning it's an important coming from the second quarter results but who are terrible years. in the position of improving its profit though their credit. program is not coming quickly . maybe benefited by one our. legal. benefits from selling. revenues. may not bring. quickly enough down earnings quickly enough in order to effect. around. corresponded when you bought staff that china international capital

corp or c i.c.c. has chosen frankfurt for its european hage to china's number one investment bank wants to operate freely throughout the uso it needs to be firmly located inside its borders frankfurt is germany's financial capital and home to the european central bank with all the uncertainties surrounding briggs it london is now much less attractive cities like dublin and paris are drawing some of their business but frankfurt is leading the pack so far with twenty four international banks opening new offices there. the european union has asked the united states china and russia to ease global trade tensions saying there is a danger they could spiral out of control european council president donald tusk was speaking in beijing today at the opening of a summit between china and the european union comes at a time when both the e.u. and china find themselves targeted by u.s. house. it's trade tensions continue to flare elsewhere there are signs that the

economic relationship between the e.u. and china remain stable the two sides say they're close to reaching a bilateral investment agreement that commitment comes as fears grow over the impact of america's unpredictability. the europe china and the. american president trump and russian president putin can give. the fact. that the architecture of the world is changing before our eyes. and to this our common responsibility to make that change for the better. china and the e.u. also signed their first joint declaration since twenty fifteen the document mentions the need to address overcapacity on the global steel markets officials also discuss plans to reform world trade organization rules based on the same day

that china filed a w t o challenge to u.s. tariffs on chinese goods. to june china and the e.u. are willing to talk about reforming and improving the w t o's on the basis that it maintains its core principles and continues to operate based on rules that foster free trade. changes. while china continues to post strong growth there are fears that a further escalation in its trade right with the united states could slow down the economy the latest figures show the chinese g.d.p. grew six point seven percent in the second quarter that's slightly less than in the previous three months the e.u. is a key trading partner for china and as relationships our elsewhere beijing is especially keen to maintain core deal trade ties with the bloc. of national correspondent for asia joins us now from singapore and read donald trump has just called the e.u. a photo on trade is now the time for europe and china to strengthen economic ties.

are you scared it would be a good time for china to pacify the trade pact with the e.u. particularly after multiple rounds of complaints from european companies of china's an. sending is when it comes to setting up shop in european countries so right now the ball truly is in china's court when it comes to widening its street gates perhaps this could be the push the that they will need to finally make that happen just briefly how much does the trade dispute with the u.s. china china does stand to lose a good portion of their heavily reliant export market with many consumer goods assembled and reshipped out of china. to the u.s. so the terrorists will actually hurt the us more when it when china poses on those price hikes and to hang in singapore there for us thank you german pharmaceuticals

and technology company map is stepping up its presence in china the company has signed deals with ali baba health open to technology center in shanghai and will open two hundred fifty million euro factory in the tong next year all these moves mark the company's three hundred fiftieth anniversary this year. it all started here with a pharmacy in dollar start that humble shop grew into what's now the oldest pharma company in the world and three hundred fifty years later still run by the founding merck family but now the company is a global player. now has annual sales of more than fifteen billion euros last year's profit was two point six billion and they employ around fifty two thousand people. the company now has several divisions mix pharmaceutical sector is under a lot of pressure to research and develop their own drugs and bring them to market

that includes drugs for cancer and multiple sclerosis they also make lab equipment which is a steady business their third division is making liquid crystals for l.c.d. screens and in that field they're up against fierce competition from china. we are joined by stefan chief executive how important is the u.s. market for you currently and i concerned that off the german cars companies like yours the fun and cell phone trumps tariffed list. the u.s. market is very important for us especially in the field of pharmaceuticals also life signs and electronic materials we actually have as many employees in the u.s. as we have in germany a lot of research and development as well as manufacturing in the u.s. i was to think that our products are very important to make the u.s. by taking this tree and the u.s. electronics industry competitive so yes there is some concern about changes in the

global trade system would be believe that we as a company are somewhat less exposed than others. what can you do if if donald trump decides to put companies like yours on his tariff is what are you going to respond to that. well as i said we manufacture a lot of products in the u.s. especially for life life science good so researchers biotech companies almost anywhere in the world including the u.s. depend on having access access to our products and they're actually being manufactured manufactured in the u.s. so we've looked at what kind of exposure we every might have to rethink that in our case it is limited. is you're increasing your exhibit he's in in china is that also part of the strike at such a g. to counter any kind of isolationism tendencies that are coming out of washington.

well something like fifty percent of our company's growth in the next couple of years depends on china and chinese economy is transforming rapidly china's becoming one of the most innovative and digitalized societies on this planet and the chinese government and their strategy made in china twenty twenty five they put a lot of emphasis on innovation in the country as as we in our business model we support public companies including chinese chinese company. and the feel of buy a ticket. or health it's only natural that green based in this area in china. mack has on the go to massive restructuring why has it restructured itself and how . well you know the market is changing very very fast to see that these two sort of markets in retreat work the electronics industry research by a take industry the pharmaceutical industry changing very fast sciences is changing

rapidly so a company that has a history of three hundred fifty used could only have such a long history because it was continuously changing adaptable actually being ahead of the curve when it comes to scientific developments so maybe change our company we change our portfolio we've moved a lot of people something like forty billion every day comes to our and to our business is second to that is a tradition we have created create you have a long tradition of changing. stuff on us now that she does it's all about thank you very much. that's it for me and the business team didn't know until now but update for you in the next hour stuff.

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and death with the few. twenty first on. into tomorrow and today. here's what's coming up. work out for the brave. exploring the moon but now this is the latest luna probe. how children's toys shaped gender identity and.