the courage of crunch time for the euro brussels expects me to present a revised budget plan for twenty nine romans. moved a good on election campaign promises. you wrote is at stake. coming up to shoot a fishing country meeting croatia looking for a way to avert the extinction of a much loved global delicacy. and china's even racing to position itself on the global wine market now and it's being backed by legendary luxury brands. this is your business update on how the whole frame but then glad you could join me the countdown is on for the government in rome has until late tuesday to come up with a budget for twenty nineteen which brussels agrees with european commission has already kicked out the current one saying it flouts a commitment to reduce the country's debt and that debt is sizeable the second

highest in the euro zone as a proportion of g.d.p. now brussels says if rome does not come up with the goods later it will start disciplinary steps against rome later this month. the italian government is not backing down over its budget despite e.u. commission warnings to dress tickly reduce its budget deficit target after talks with euro group president mario sentinel italy's finance minister said it would be political suicide to cede to the e.u.'s demands to take a bigger fold i mean. we are going to reiterate our budget fundamental characteristics and rationality and i join you and we will continue to discuss ways of bringing our position in line with the european commission has now gotten all supersedes your knee can see that we'll also take the worsening economic forecasts for europe and italy into consideration and that only confirms that our budget proposal make sound it's. more debt for more growth the italian banks aren't

convinced that deficit spending will end well a report says the country's five biggest banks are considering opening a two and three quarter billion euro credit line to the central banks deposit protection fund the credit line would serve to strengthen support for weaker lenders in the event of a banking crisis. and earlier we spoke to german economist you're going to start the e.c.b. he's former chief economist and also what was likely to happen next is what he told us at a certain point in time there would be a showdown the question is whether the italian government will hit the wall with the you commission or other european institutions over the markets i personally expect that you institutions will stand firm not to give in at this stage at least second that the rating downgrades will follow and credit spreads will widen further so in the end the italian government will have no choice than to soften its

stance to soften its position and to police to an extent to avoid the escalation of the financial crisis on the chances of italy going bankrupt. yeah i hope that this can be avoided and this would be the first case. i hope that the signals coming from the european peers from other european euro area member states but also from other european institutions like the e.c.b. president draghi was very outspoken in his recent press conference that italy cannot expect any support coming from the e.c.b. year it is not even within the men date of the e.c.b. to finance the fiscal deficits so i think the the the messages coming from the piazza futilely pretty clear but i personally expect that markets will behave more fiercely and signal to italy that it is a dead end continuing this wave of policy making. you can stop there now canadian

prime minister justin trudeau hopes to have a deal in place to end u.s. steel and on a million import tariffs by the end of the month trudeau told reporters he discussed the issue with u.s. president donald trump on the sidelines of an event in paris he hopes a deal will be in place by the start of the g twenty at the end of november canada was one of several countries hit with the jew cheese is one of the biggest on a medium export has seen the united states. and i want to bring in our financial correspondent also fishman's he joins me from new york sophie with american could see benefit in anyway from such a deal well has been out for months economists have character weight is the cost for consumers and companies and they have clearly warrant of the negative impact on the consumer and on economic growth us feel and element in prices have soared since the imposition of tariffs

a us still prized benchmarks or thirty six percent already between the start of the year and the start of july this of course causes prices of goods made with the metal to rise as well homebuilders are already reporting higher prices for metal goods plus it's impacting the job market for instance the trade partnership that's an industry group that analyzes free trade found that the steel and aluminum tariffs could result in up to four hundred thousand lost u.s. jobs and the layoffs are probably larger than the roughly thirty thousand jobs in steel and aluminum production that could be gamed so he should be with the hall of facts for us so see thank you. in a kurdish and seaside city all the dubrovnik a chain of fishing nations a meeting to decide the fate of one of the earth's most valuable thing the big i choose now it's a billion dollar catch has been severely over the fish in recent years. scientists

shocked many in the fishing industry last month when they warned that stocks of swimming bigeye tuna could crash within a decade or two. bigger toonies prized for says she me in japan. and canned for supermarket sales worldwide. so it current at current catch levels by within the next fifteen years that this stock is sixty times more likely to completely collapse than to recover and that is obviously very concerning and you know that the current catch level the current allowable catch would get us to that point a report in october showed that populations have fallen to less than twenty percent of historic levels this is partially due to the catching of young to know which depletes the stock before it can reproduce. husband be poor and disappears and that we believe that this is because you know the person

has a catching a small to juvenile to be good to preach or the best way i fixed the stock status experts calculate that cutting the total catch to fifty thousand tons per year would give big guy a seventy percent chance of recovery by twenty twenty eight. but some fishing countries are not party to any quotas and begun hauls last year topped eighty thousand tonnes high enough to drive the species to extinction a good red wine can set you back hundreds maybe thousands of your price tag of three hundred dollars while state isn't that much of a surprise whether why not from a largely on known region it's made in china experts say can hold its own against competitors from other countries even frogs and i legendary in luxury brands stands behind an event. the location of the vineyard of our union is described

and its name above the clouds it's not metaphorical these grapes grow at an altitude of twenty six hundred meters at the foot of the himalayas here the soil is rich and the climate is mild with moderate temperatures all year round the mekong river flows nearby for generations villagers here grew traditional food crops then the chinese government encouraged them to begin making wine instead operations got off to a slow start until more hennessy got involved the french luxury giant was impressed by the area and signed a thirty year lease but how did they believe connoisseurs will react to a chinese vintage. made in china does indeed have negative overtones but everything we do we do with passion. and we do it with the utmost precision to make the best wine possible to have the best wine possible. i believe

we are one of the companies that will help revamp the made in china label. making top tier wines requires deep pockets hennessy has brought both technical equipment and expertise to the region while the villagers have put in a lot of sweat pruning and harvesting the around three hundred plots and the collaboration is paying off. so. it's been quite surprising for our customers when they taste this wine most think it's a french bordeaux. but when they discover the bottle is from china all of them are excited they're quite surprised by the quality of the bottle. the oju unlabeled currently produces two thousand cases of wine a year but even though the national appetite for the beverage has matured and the

country's market is expected to grow to over seventy billion dollars the lion's share of the vineyards production is sold abroad the chinese as it turns out aren't that interested in local vintages consumption of imported wines continues to rise but demand for domestic wines has fallen five years in a row. two hundred thirty nine aircraft were sold at the ash or china aerospace exhibition most of the orders going to aviation giants boeing and airbus the events in the southern chinese province of one dollar also saw the first public appearance of a mock up c. on nine to nine the wide body civil jet liner being developed by china russia slated for launch in twenty twenty seven will have a range of twelve thousand kilometers now that is further than the route between beijing and new york chinese aviation sector is booming the number of daily domestic flights that is expected to exceed that of the u.s.

within the decade. that's it for me and the business team here in berlin faxes of a company ceasing. to. cut. cut cut cut cut. cut cut. cut. cut cut cut cut cut cut. cut cut. cut. cut cut cut cut cut cut. cut cut the food.

calling for the. digital technology to help make our oldest claims and received a login apology. to. the and you can tell a lot about a society by its garbage. the fitzmaurice looks for the rich look for many poor people it offers their only chance of survival a and i could be on for today just like us. our reporters travel to nairobi and organise ends meet those are true fellows courage. this has created a surprising parallel economy a model what does all this mean for economic inequality around the world as a starting place wark you know the response to that state mr b.

yes we all starting class want here because retirement. actually disrupt an economy the law the rich the and the truck snoozers report starts november seventeenth on g.w. . ok. ok. shift hash tag. a special program about internet equality with programming lessons for girls medical support by smartphone and life's little enjoy.