it's crunch time with trade negotiators working towards a weekend deadline the canadian prime minister says no now the deal is better than in bad enough to deal also a coming of germany's banks the vote digitalize asian but now they have hope to bounce back. and who wouldn't want to be beautiful and popular but in the croatian city of gibraltar take residence a warning that tourism can be too much of a good thing. it is your business update on how in the home free in berlin thanks for joining me the u.s. government maintains its hoping to find common ground on trade with canada after reaching a preliminary agreement with mexico on a monday canadian and u.s. negotiators a still sitting down for talks which trump says all going quote really well he set a deadline of friday for the three nation pact. the talks to overhaul the free trade agreement have entered a crucial phase and canadian prime minister justin trudeau beliefs meeting the

friday deadline is still possible but he's not making any promises we recognize that there is a possibility of getting there by friday but it is only a possibility because it will hinge on whether or not there is ultimately a good deal for killing a good deal for canadians i said from the very beginning no live to deal is better than a bad nurse to deal and we are going to remain so for a look on that principle because canadians expect us to stand up for them and that's exactly what this government's going to do earlier canada's chief negotiator said she was encouraged by the talks and progress made so far. the earth thing that. you love the place together with the united states is significant. work here. yeah yet here we are in fourth step for us that it

has that stage for very intensive conversations and negotiations that work with the u.s. canada and mexico have been trying to hammer out a deal for over a year if they reach a consensus by friday that could pave the way for a mexican president and ricky pena nieto to sign it before he leaves office at the end of november. time to bring in our financial correspondent yes courts in new york yes the u.s. is essentially told canada take it or leave it we await the outcome meanwhile the u.s. congress also has to have its say right. certainly there do a u.s. president on and can sign a new agreement without the support of congress and it's very delicate if you look . states here in the united states like kansas for example who depend

a lot on agriculture from kansas twenty percent of their exports actually go to canada and was that is the most important trading partner and overall behind china canada is the second biggest market for the united states so there will be a lot of pressure to not just get any deal but the right deal so it's not going to be easy to hammer out a new agreement anytime soon and in other news yes with us g.d.p. numbers in how's it looking well the u.s. economy is on fire we saw economic growth in the second quarter by four point two percent that was a bit higher than expected and the biggest grows in almost four years but it's not just grows overall also if you look as u.s. corporations they just finished the second quarter was the highest of profit growth in about six years we see the unemployment rate at the lowest level in almost fifty years and still the federal reserve does not seem to be very extreme when it comes

to interest rate increases we probably will see a moderate pace so at least if you look at wall street and stock price it's an almost perfect environment and that's why we see a new record almost every day here on wednesday of the s. and p. five hundred and also the next day composite for the fourth consecutive day closed on a new record high and also a blue chip so the dow jones industrial average is closing in on a new all time high as well our financial correspondent yang's quarter on wall street yes thanks. poor results and tumbling the share prices germany's big banks are in trouble deutsche bank just lost the title as the country's most valuable financial institution to a startup in the tech sector and germany second largest bank could soon be ousted from the decks in their surprise and that bringing germany's banking giants up to speed is the focus of a conference in frankfurt this week is there

a way to shake things up without letting them full that's the challenge facing germany's big banks right now with greater competition from abroad and trade conflicts dominating world politics europe's financial institutions must pull their strengths says deutsche bank c.e.o. kristen's evening it's come flooding. it's clear the pressure is on to consolidate in europe there are five thousand five hundred financial institutions in the eurozone beefeater for not how many of them can manage risks in an increasingly confusing world economy medication or europe does it need as many banks as possible what it needs is strong banks. and bank plans to be among them it's retained its global aspirations under savings leadership. even took over running germany's biggest bank in april for the past three years the financial giant has suffered losses falling behind competition particularly from the us savings says that now

politics must play a part to. get it through all the period in order to produce true european champions and we need uniform regulations in europe we need a unified financial market and i know if we can finance more and according to saving a strong european financial center to say that europe can better focus on finding strong solutions to upcoming challenges like bracks it for example. the great streak in international trade has come to an end for the first time since twenty six in the trade of merchandise from the g twenty the twenty needing industrial nations this fall and exports dropped point six percent and imports declined even more last quarter that's according to figures published by the o.e.c.d. argentina brazil and experience the biggest fools those countries suffer from weak current season economic turmoil another reason for the decline is the ongoing trade

conflicts between the us china and other currencies. the argentine peso dropped to a record low against the us dollar on wednesday that softer president modi so mccree also the international monetary fund to speed up the release of bailout funds they originally scheduled to be spread out over three years and granted one as i as a fifty billion dollar credit line mockery tried to reassure his compatriots that funding for the coming year would bolster market confidence and help the economy return to growth now would be my say my now. we've seen a lack of confidence in the markets in the past week. specifically in our capacity to achieve funding for twenty nine teams you know where we are that's why i would like to announce that we've agreed with the international monetary fund to advance our older funds necessary and this is to ensure compliance with next year's financial program you know as you know that on your. that's part of the agreement

the i.m.f. released fifteen billion dollars to argentina in june and is poised to provide an additional three billion dollars next month the funds are aimed at supporting the budget and shoring up the pace so you. put on certainty over spiraling inflation and economic downturn and a ballooning deficit has sent the peso tumbling seventy percent against the u.s. dollar this year the weak peso increases the country's foreign debt burden and investors fear point us our is the. they have problems meeting its foreign currency debt obligation next year. to make matters worse on monday argentina's treasury minister said the economy would contract one percent this year compared to a previous forecast of three percent growth. in the poll of the adriatic that's what people call dubrovnik a popular travel destination on croatia's southern coast as seaside location and medieval sites attract thousands of tourists every day and they provide

a steady stream of revenue for shops and other businesses they also get in the way of everyday life and some locals have had enough. on a typical summer day in dubrovnik local resident to prof because she moon of each avoids the main streets they're packed with tourists in sydney or shops even normal businesses are thronged. these good people i have to stand in line at the supermarket for up to thirty minutes because it's full of tourists buying water fruit. we watch it. the mediæval city is on unesco's list of world heritage sites the u.n. organization has advised officials to cap tourist numbers at eight thousand a day but often more than ten thousand arrive especially when three cruise ships docked in the harbor simultaneously with two thousand or more passengers disembarking from each one the deputy mayor says the city is working to limit the

number of visitors. close it surviving the same morning are not arriving in the same hour there are like intervals. to prophecies the visitors is both a curse and a blessing she too lives from tourism charging ninety year as a night for this apartment she prefers longer rentals to older tourists. adios there go all the ones under forty are disaster they run around the streets with their bottles and they pee everywhere. their toys just like the nuisance caused by tourism the shipment of itches intend to stay they've turned down an offer of a million euros for their house oh joy this is my home i'm going to die here i won't sell. why not. because they enjoy so many moments in the historic city known as the pearl of the adriatic.

and that's what you're up to date with the latest from the walls of business i'll be back tomorrow with more same time same place at forty to see you that.

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