there was great fanfare in tokyo this week as the e.u. and japan signed the world's largest ever trade deal. the agreement removes trade barriers at a time when global free trade is under threat. to the signature of the u. you can only see the ribbon is a moment ago but if we used together you call them is the calling for the third of the world's g.d.p. and to over think some of. the talks got off to a rocky start requiring four years to complete. but as u.s. president donald trump ratcheted up protection its rhetoric over the last year and a half the negotiators committed themselves to sealing the deal. but.

there are currently rising concerns about protectionism globally. within this context i believe it is extremely meaningful to japan and the e.u. are sending a message to the world. about the importance of free and fair trade. and the. japanese automobiles currently face ten percent e.u. import tariffs those will be completely done away with. for the europeans the food industry is the big winner of the deal it will now be much easier for producers to export cheese chocolate and meat to japan a nation of prosperous consumers. the e.u. expects boot exports alone to jump at least by one hundred eighty percent that will create new jobs and boost g.d.p. the signatories sent a clear message to washington free trade not walls stimulates markets.

four point three billion euros that's the record fine google is facing after a year regulators found the company in breach of antitrust rules the charges relate to google's android operating system used by phone makers including samsung on why e.u. officials say forcing manufacturers to pre-install apps like you tube and google maps in exchange for enabling the download of other android run ups amounts to unfair competition google maintains its within its rights to set preconditions for the use of its services you competition authorities reject that argument accusing the company of marginalizing its rivals. in this way google has used android as a vehicle to cement its stance inst as a search engine these practices they have tonight rivals a chance to innovate and to compete on the merits they have denied european

consumers the benefit of effective competition and it's very important why it's fair. this latest ruling comes a year after a un t. trust regulators fined google two point four billion euros for unfairly favoring its own shopping service google won't have trouble finding the cash to pay its fine . the company reportedly holds several tens of billions of euros in cash reserves. but being forced to change its business model could hurt the company more. the phone makers are no longer forced to pre-install and drop outs. to present revenue could be hit hard. so the internet giant says it will appeal to fine. big machines big profits aircraft are state of the art products with sky high price

tags manufacturers like airbus and boeing take orders in the tens of billions and looking to the future boeing estimates commercial airlines will need over six trillion dollars worth of new aircraft over the next twenty years. projections like that make airline companies fairly optimistic. i don't think demand is being put out there will always be demand for at travel because this is the last safest easiest way to travel from country to country and. that it was for us and the industry monitor i utter focus that there will be. traffic especially in the region where we are situated. and not just in the middle east a boeing study predicts that in ten years china will replace the u.s. as the world's biggest domestic travel market. boeing already exports

a quarter of its production to china but the escalating trade dispute between the u.s. and china could easily cloud the u.s. playmakers china business. but there was no trace of global trade disputes at the farnborough airshow outside london the fact that aircraft components are made in many countries could mean trouble for british industry post brags that. but if she was worried british prime minister to reason may didn't let on. i want to ensure that the u.k. remains one of the best places in the world for aerospace companies to do business to continue as world leaders in innovation to make the most of the huge opportunities that exist because this is an incredibly exciting time for every space not only is the huge growth potential but many of the developments taking place have the potential to transform the way we fly. the u.k. will likely have to take over more control of its defenses post brags that the

government announced plans to invest more than two billion euros to develop a new fighter jet until now european countries produced the euro fighter jointly but uncertainty over britain's future could make such cooperation no longer possible. in response to u.s. moves the european union imposed tighter steel tariffs this week a new twenty five percent tax does not apply to all steel imports rather only those in excess of normal import volumes. this is the e.u. tries to avoid steel intended for the u.s. being redirected to europe. there's currently a glut of steel in markets due in part to of a production in china. trade disputes with the trump administration in washington brought china and the e.u. closer together this week. at the twentieth even china summit in beijing leaders on

both sides confirm their commitment to rules based trade deepening their strategic partnership and reforming the world trade organization. there was finally some good news from deutsche bank this week germany's biggest lender is projecting a second quarter profit of four hundred million euros far exceeding expectations the announcement sent the bank's share price soaring new c.e.o. christian saving is restructuring the bank cutting thousands of jobs and scaling back its investment banking division. warehouse workers of on line giant amazon stage strikes in european countries this week a walkout started in spain on the company's amazon prime day its annual global sales event employees are demanding labor contracts that guarantee better working conditions including higher pay and paid vacation activists called on amazon customers to stop buying its products.

because turkeys economy continues its downward spiral the price of basic items continues to rise onions potatoes and tomatoes are also far more expensive than they were a year ago. countries in the grip of crippling inflation and everyone seems to be feeling the effects. yet. we can't afford the things we need we can't go on holiday. we have to limit ourselves sadly. president richard tired out of one has promised his people a glowing future. but he says he needs to consolidate his power to make it happen his control now extending even over the central bank. some analysts say they're living in an autocracy. no central bank but all institutions and in this country are on the sweat. and we don't

have any freedoms. in the simplest solution. per. the ones influence over the central bank has accelerated the turkish leaders depreciation global investors have been pulling their money out of the country for months sending the lira tumbling twenty five percent against the dollar since the start of this year. that's made imports much more expensive. businesses are increasingly this is a. more for. economic growth tops the list of better ones priorities that's why he continues to avoid raising interest rates but that policy in turn is contributing to the rising inflation it's a vicious circle that's accepting a lot of turks. some economists even joke that the lira is turkey's last remaining

opposition policy. making bells as a labor intensive and time consuming process the gallon aapl this family has been making them for over two hundred years theirs is the last remaining bell making business in greece when the financial crisis struck brothers christos and tomas refuse to give up the trade their forefathers began generations ago. but as the economy soured output plunged by sixty percent along with lucrative church donations. the brothers now in their fifty's refused to shut down the family business instead they focused on exploiting their customers crafted chimes. certainly a moral sense is action that comes with continuing something your friend father did great grandfather did your great great grandfather did it's quite a significant thing. now more than half of the golen opulence brothers production

is ringing out in countries like australia africa and the us. christos and thomas his sons will continue running the business much to the relief of their fathers who feared it might end with them. there was no way i was going to let all my fathers and uncles efforts in building all of this be lost and secondly as a trade i love it i like it i enjoy it. that will be music to the ears of the local priest who swears by gallon opulence bells. he likens them to the call of god.

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