it's failed to convince equity markets across asia and europe so far find out why. nearly two months after the us stock tariffs on steel from the e.u. how are european manufacturers fairing get out first we'll have those stories and much more for you coming right up and visit. me take it personally i think with all the wonderful stories that make the game so special. for all true fans. more than football online. time for an upgrade.

sure that grows all by. house with no room. for design highlights you can make yourself. trends tips and tricks that will turn your home to special. upgrades yourself with g.w. interior design channel on you tube. the current c m freehold the stock market in decline and a president of the conspiracy theory he's economy is in dire straits and war is about contagion are growing is europe sufficiently protected from the full of surprises on the. europeans warry of all the flood of cheap steel looking for. new

markets after u.s. terrorists were imposed the one company seems to be in a good position. but this is business on d.w.i. as well the instability of the turkish economy and currency and the possible contagion effect on other emerging emerging markets international markets jittery after losing more than twenty percent of its value on friday turkey's currency the lira has been covered slightly but is still closed to all time lows the same time the government promises a plan to stop the lyrics for you for several problems hitting the turkish economy at once finding effective solution solutions will be a tough call. turkey's president at all one has responded to his country's economic crisis with a plan to boost investment meanwhile the lira is in freefall and while the turkish central bank has announced measures to help banks weather the storm ordinary businesses already feeling the pinch. and showed it to him i mean trade but my

business is interrupted because i sell imported goods and therefore will date the prices today because the prices we pay for goods increased twenty percent as a result of currency fluctuation of which there would eventually people be affected by that. hard work on measure down through debt. and the central banks proposals have done little to quell the markets the euro has hit a one year low against the dollar prompting some experts to warn of contagion. the fall has certainly been dramatic the lira has lost about forty five percent of its value against the dollar since the beginning of the year. that means it has become extremely expensive for turkish businesses to service loans to foreign creditors if the euro tumbles further corporate debt could explode and some foreign banks could lose billions of their turkish default on loans. well let's look into that

crisis in this run in chorus financial correspondents in singapore and in frankfurt response and andrea start with you the turkish central bank has intervened promising liquidity for turkish banks is that enough. no it's not enough and it shouldn't be the first step either what people here in the market are looking for is a real signal that the central bank in turkey is ready to act and to actually go to the heart of the problem and that is to raise interest rates now president erda one doesn't like that and it looks to the market as if the central bank is bowing to the president and that message is just very very harmful undermines the confidence not only in the central bank but also in the currency and in turkey as a viable debtor on the whole and what the central bank should do is raise interest rates and raise them now and raise them in a sensible way and emphasize that it's ready to do more if necessary and even if it

raises rates now that won't stop the crisis there are other elements is as well involved the political ones like the sanctions and the fight between trump and everyone but even if the first rate hike is a welcome signal it will take time to bring down inflation and bring the currency back up. also worries about contagion meaning that a crisis could trigger another meltdown in europe why is that. but one thing is the euro losing towards the dollar that's because a lot of people are fleeing into the safest haven they know and that's the dollar u.s. treasuries at the moment in the situation but major european banks are involved in a major way in turkey they have billions of credit there that they gave and the e.c.b. is reported to be monitoring closely the situation in three big banks b.b.a. of spain and then you know creditor of italy and b. and p. parry france and the problem is nobody knows how deep the problem is but if banks

have problems it's clear it's not limited to one or two or three then you have contagion because they're all interlinked it's not that far yet but the fear is that they're. coming to you in singapore the crisis in turkey is also affecting asian markets especially emerging markets currencies seem to be vulnerable to the lure of crash once the. well there it is of course general nervousness from investors ripping through the markets today. in stocks but particularly now that you mention emerging markets they were particularly susceptible to the lira situation and that is because it's experiencing the same situation as turkey and that is the double deficit of the twin deficits where they're running both siskel as well as the current account plus also had indonesia also have has

a severe foreign currency debt that is amounting to thirty percent of its g.d.p. at this moment. of weakness there isn't that. exactly. it wasn't the only don't want to drive before the asian markets a day the ripple effect from last friday a decline in u.s. stocks also send a lot of asian stocks and numbers crashing to whether this will extend into the near future remains questionable but it does look bleak according to some economists they believe that area once a current policies are going to paralyze financial situation and as we all know that ripple effect is going to continue and very likely affect markets globally including the asian markets here. close

on the situation thank you very much for. shares in german chemicals john plunged ten percent after friday's decision by us courts to order months some to buy a reason the acquired to pay two hundred eighty nine million dollars in damages to a ground round people when johnson who suffers from lymphoma claims his cancer could have been caused by his contact with monsanto's round up killer the jury agreed ruling that monsanto should have warned buyers that the product could cause cancer service believe thousands more claims could follow baez says the court's decision goes against overwhelming scientific evidence. two months ago the united states and opposed to twenty five percent tariff on e.u. steel imports it was outrageous talk of a trade war and

a peacekeeping trip to washington by e.u. the use president a commission president. so far to no avail so european steel makers had to face the music and find ways to stay competitive on the u.s. market. the blocks of steel emerging here have a temperature of a thousand degrees celcius making them pliable for the gigantic presses which give them their final shape the b g h stainless steel works near fi talon eastern germany processes a quarter of a million tons of steel every year mostly for the oil and chemical industries managing director sun kevin to hog ten percent of its plants annual act put to the united states. since this kind of steel is barely produced in the us the tariffs have had little effect on sales but the effect on prices has been significant. we have no alternative but to keep passing on the cost of the twenty five percent punitive tariff to our customers because our american buyers can't source what they

need on their domestic market they have no choice but to absorb the increases. the stainless steel producer is in a relatively comfortable position because its products have little competition but plants making cheap steel for industries like construction are much more vulnerable their u.s. customers can obtain supplies domestically tariff free but german chambers of industry and commerce analysts far cateye is worried about a more pernicious side effect of trumps tariffs countries like south korea india and china which used to export cheap steel to the us now need new markets. they won't be able to sell as much of the us now this will lead to a diversionary effect meaning more will make its way to europe that's ok as long as the economy's doing well but overall then we look at things we can see some very dark clouds gathering in the skies of the global economy.

managing director venter haga is also worried about walkout happen if the global economy falters a slump in demand could lead to price dumping across the entire european steel markets. it's orders itself or to pull our weight approaching it is simply to keep our eyes on the costs we're busy taking a close look at our production processes here we're investing in our smelting technology and our rolling technology to make them more efficient and to remain competitive in any price war in the future as well. but even to hog are also hopes that american businesses will get trump to relent and drop the tariffs because in the end guitars make a lot of product over their more expensive leaving us consumers to foot most of the bill. the heat wave that has been hitting japan for the past few weeks is now also impacting a true institution of japanese culture the famous pre dawn tuna auction at

the world's biggest fish market fishmongers here to keep cool in cool trucks until the last moment. conditioners are struggling to keep temperatures in the market falls down the zuki markets opened in nineteen thirty five is said to two or more inside you know they spend as. little bit. more. and that's it for me on the business team and berlin for you in the next hour in the meantime to check out our social media feeds on twitter and facebook for go here's a real time check on global markets this. club. likely

i can say misleading stuff to them to such a the face a. crunch . can a name change the fuss compacts and still be. trying

to say next on the don't leave. i've. just been whipped. any time any place. is a new. video never as. captain of the benefit of pop. songs to sing along to download superstar combo from soup. to do such. a varied course is put into active exercise is the kind of thing about that debt when you don't come to ash don't plan on facebook in the uk still. demonstrate w. . his creations. his brand stiegel

colonoscopies this icon of the. book what do we really know about the man behind the torch. what motivates him how does he think and feel private moments in the life of a great fashion designer going through some small. stuff that starts september ninth w. hello and welcome to drive with the d.w. motor magazine today an all electric s.u.v. from south korea hyundai kona electric c.e.o. it's developing new mobility concepts at its metropolis lab in barcelona and sunshine in the open.