another 1st for christine legarde after a marathon summit e.u. leaders decide on who's to get the union's top jobs and the 1st female leader of the international monetary fund is poised to become the 1st female president of the european central bank also coming up. in aggravation the whiskey wars the us is threatening europe with terrorists on scotch and more in a years old dispute and it's getting hotter and eventually the heat is going to hit the bottom line a new report highlights the impact of global warming on the world economy. i'm chris cuomo welcome to the program. she is the head of the international monetary fund the world's most powerful woman according to forbes magazine and now it looks like she will become the president of the european central bank christine legarde career might lead her to frankfurt and in her new potential position at least one thing will be familiar to her.

christine lagarde is certainly used to being labeled as the 1st woman to for example she was the 1st woman to become finance minister in france in the position she burnished shows as an international stateswoman during the financial crisis she played a key role in the global response as markets collapsed. valuable experience that certainly helped her get elected as head of the i.m.f. and 2011 also was the 1st woman ever to biggest challenge in that job handling the greek debt crisis. in 2016 a french court convicted of allowing the misuse of public funds as french finance minister she had approved the payout to a businessman. god didn't have to serve a sentence and the i.m.f. stood by its director. now she is stepping down to become president of the european

central bank of course as the 1st woman ever. of course the european parliament needs to approve christine lagarde in her potential new job for a closer look at her career let's cross over to washington and our correspondent helena humphrey how are the people at the i.m.f. sad to see christine lagarde go. i think there is certainly the sense case kristoff that she has a very strong legacy at the international monetary fund remember of course that she came to the fund out of a very difficult time 2011 we just saw the abrupt departure of dominique scalds kahn amid allegations of rape it was also the often off of the global financial crisis so a very tough economic period leading christine legarde to once famously quipped that had the lehman brothers bank been the lehman's assist is that the global

financial crisis might not have happened a toll so certainly a firebrand for more women in positions of economic leadership and power and of course the greek debt crisis is well very much put in the spotlight despite the fact that christine lagarde is not an economist by training but many people say that her management of the international monetary fund such a large multilateral organization of 189 members puts her in a very strong position to lead the european central bank christine legarde might not be an economist as you pointed out but she is a very skilled negotiator as was shown in the greek debt crisis in which the i.m.f. were heavily involved. absolutely i think it's fair to say that her skills as a diplomat as a negotiator are legendary at the international monetary fund and that was exemplified really during the management of the greek debt crisis she really

pioneered the release of those crucial funds your correspondent in washington thank you the united states had just managed to stitch together a truce with china now upping the ante against the european union an old dispute over aircraft subsidies united states releasing a new list of goods for tariffs on up to $4000000000.00 worth of goods it includes metals cheese cherries and whiskey the distilled spirits council of the united states warns duties would jeopardize american jobs and hurt consumers the world trade organization is from the 2 biggest play makers boeing and airbus receive billions of dollars of harmful subsidies it's yet to make it ruling. for more on the story of spring onions quarter in new york a yes how has the market responded to this fresh threat of terrorists. well initially

we saw a little bit of a hick up on a wall street and u.s. president donald trump in the past has received repeatedly claimed that the friends of the united states when it comes to trade have treated the u.s. worse than its enemies so obviously the trade dispute between the european union and the u.s. could teed up but then again it's $34000000000.00 it's not it's a lot of money but it's not the big chunk of trade between the 2 continents and as trading continued here we actually could recover from all the losses and the s. and p. 500 said a 2nd consecutive new record here on trading on wall street now a price is under heavy pressure on tuesday despite attempts by opec and others to prop up prices what happened there. yeah obviously sentiment seemed to change and we saw quite a drop in the price of oil at some point down by about 5 percent just in the

tuesday trading in the past couple of weeks we have mostly focused on the supply side sold the talk about possible cuts off production drove profit oil prices up by a good 10 percent in the past couple of weeks and now the focus shifts to the demand side and there is this fear that global growth might be cooling so less demand and that could mean a pressure for the price of oil yes court in new york thank you iran's economy is suffering under these sanctions from the united states imports and exports have crashing down and so has the value of iran's currency but all of these things have contribution it taste surprising side effect the iranian stock market is thriving. inside the terran stock exchange there's rest bite to be found from the nail biting economic situation facing iranian's traders here have been enjoying a 12 month bull market with the main index the tactics hitting record highs again

this week jangle who only a war breaking out could stop the market and political tensions aren't enough. for the past year the value of the iranian currency the reality is thought to have fallen by around 60 percent the root causes of that likely predate the u.s. withdrawal from the around nuclear deal in may 28th but the subsequent reimposition of trade sanctions has driven its value down further. the result into rocketing costs of imports have forced firms to seek local supplies benefiting companies who sell their goods within iran and benefiting stocks in tehran whether the doomsday scenario of a war ever plays out is up to the country's leaders but for all the traders bullish talk the current gains can't continue forever. and now to some of the other stories making news around the world france said on tuesday it was not ready for ratify a large trade deal agreed by the european union and forced south american countries

the e.u. and the americas sore nations agreed a free trade treaty on friday concluding 2 decades of talks between the blocks but growing opera among france's traditionally strong agricultural community has put the government under increasing pressure austria has become the 1st country to ban the controversial glyphosate weed killer following a vote in parliament herbicide which is marketed by buyers monsanto company has faced a flood of lawsuits in the united states over allegations that it causes cancer the move could set australian evolution course with the european union brussels has approved the use of glyphosate until 2022 and allows member states to only ban e.u. approved goods under special circumstances. last month was the hottest june ever recorded not only here across europe but worldwide soaring temperatures spark fires heat related deaths and mass migration to lake speeches and fountains and while this weather phenomenon hits productivity in the workplace

only in the short term climate change has the potential to do that in the long term and on a much larger scale. melting ice caps forest fires and widespread dry use these are just some of the devastating consequences of global warming now of reports has highlighted another impact of rising hese the cost to human productivity according to the international labor organization a $1.00 degrees celsius rise in temperature would lead to a 2 percent drop in working hours by the end of the century that's the equivalent of $80000000.00 jobs * costing the global economy 2.4 trillion dollars that comes on top of the $38000.00 extra deaths climate change is expected to cause each year from 2030 and that's not the only worrying economic effect the report's authors are

forecasting inequality will increase between countries and we found that the worst affected countries including. these developed countries jobs in agriculture will be most at risk as a result of rising she says pushing livelihoods in the poorest parts of the world and yet more apparel. and that wraps up this edition of the doggy business if you want more check out our website that's d.w. dot com slash business or simply follow us on facebook or twitter i'm chris corbett thanks for watching and see you back here tomorrow.

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the be. this is deja news africa coming up in the next 15 minutes the fight against climate change in africa it's being spearheaded by the use one woman in zambia is using the radio platform to educate her community about practices harmful to the environment but with governments across the continent planning a whole pile of grants are experts like hers in vain. and will meet the cyclist beating traffic in lagos and encouraging as this to do the same.