as the people of east germany shortly after the fall of the wall. clamors for german unity journalist peter lim borg was at the scene. 30 years later he looks back on the tightrope interest in. storage december 19th w. . had a bit of. a crisis moment for global trade to u.s. pressure has finally hollowed out the deal we've talked court now is just hours away from collapse. georgia bank is making more cost cutting plans will look at its latest scheme to save $100000000.00 euros a year. and this year's nobel prize winners are about to get their medals to take you inside the factory where they're forged. faces d.w. business i'm rob what's in berlin welcome along. it's

a crisis moment for the global trading system the world trade organization is appeals court is on the course to collapse after successive u.s. administrations blocks the appointment of new judges global trade looks set to lose its ultimate umpire. the man is not for budging and unless there's an 11th hour breakthrough the face of the world trade organizations top of course has been sealed the u.s. ambassador to the w t o dennis chase says he'll continue to block the appointment of new judges whose job it is to rule on trade disputes. here is what that means the applet body is made up of 7 judges 4 whose terms have expired have not been replaced because the united states has blocked the naming of their replacements 2 of the remaining 3 are due to leave on wednesday with only one member remaining the court would no longer be able

to function and the director general said that he will be now holding intensive consultations of a political nature or get to his statement in a minute but what he said was that he thinks we need to dig deeper and we need to have a broader look at what we might be able to do in order to get a permanent solution to this problem involving the appellate body many of washington's objections center on rulings related to trade with china without of course the 164 member w t o would no longer have a binding dispute settlement system in a global trade environment that is a ready highly volatile that prospect has many feeling highly alarmed. for more on this let's speak to clements he's director of trade policy customs at transatlantic relations at the german chambers of industry and commerce welcome to the business is this really

a crisis for world trade. good morning from brussels look for german business the world trade organization is the best deal of the world we have a single set of rules for nearly all of world trade and a system to make sure that everyone is following these rules and as of tomorrow this ultimately. is the system is paralyzed. the german business is very highly reliant on open markets and rule based international system and. what we will see is that especially small countries but also the euro which is also based on organization based on the rule of law. will have a disastrous environment to navigate in and this is a crisis that we've. never seen before and it needs to be resolved urgently

how do you see resolution coming is it through reform of the w.t. or some sort of replacement organization. so the e.u. has brought forward a couple of. proposals. that that could help solve this. current crisis of the upper body but there has not been any form of solution that every member of the w.t. o. . wanted to accept so. the solution business needs certainty again and the best case that will probably now move forward is a system of a coalition of the willing that puts. a parallel arbitration system that at least among these countries the rule of law will prevail and that there is no. law of the jungle and mainly because more

nations and also small business will be hit worse because they are in the air and cannot rely 100 percent anymore on these rules because why would anyone follow these rules if the others don't have to howard business is within the feeling about this i mean they think the the us has a point that the we. isn't fit to deal with the climate that we have with for example the rules on china. well our businesses are severely hit by global trade tensions the increase of protectionism. and. the us actually they have a point in in some issues the rules of that every cio they have virtually literally been written on the typewriters 25 years ago and they urgently need an update we need modern and fair rules for example in subsidies for example

on the issue of e-commerce. saw. and also on the issue of the apple a body everyone would have to quit or a solutions saw the reforms are amazing one way or another really supports the resolutions that have been brought forward by the you well things are going to have to change on me thank you clements kober from the german chambers of industry and commerce. and now to some of the other global business stories making news folks are going to facing more legal problems this time in canada the carmaker is charged with breaching environmental laws. exported cars to canada equipped with emissions cheating devices during the so-called diesel gate scandal. chinese inflation data for november shows a surge in consumer prices food costs jumped almost 20 percent as african swine fever continued to affect the supply of pork chinese stocks fell sharply on the

news. one of europe's biggest lobbies euro chambers is calling for the e.u. to lift sanctions against russia it's time for europe and russia to focus on working together rather than against each other according to the association which represents more than 20000000 businesses. and the e.u. has approved 3200000000 euros in subsidies for the battery industry and the challenge to asian dominance of the sector the funds will come from 7 member countries and will be matched with private investment by 17 companies the move comes as europe gears up for electric cars to replace the petrol driven variety over climate change concerns. next up it looks like deutsche bank is planning to make separate german retail banking unit with its main corporate structure the financial times reports it could say up to 100000000 euros annually c.e.o. christiane saving is expected to announce details of the streamlining to investors

later on tuesday it's part of a wider plan by torture to downsize significantly and reduce its dependence on its struggling investment banking operations. well on this let's bring in our financial correspondent chelsea delaney who's in franc $100000000.00 euros a year how is this going to save that. i think we're going to be definitely seeing more details on where that could come from later on in the day but this this retail bank has been seen as a low hanging fruit for deutsche bank as it. goes through with this restructuring because it really is a really obsolete structure it's been around for about 20 years they initially created this separate legal entity when they had planned to spend their retail bank off they didn't end up doing that but because of that decision they basically have an entirely different structure for the retail bank which also includes other. they have their own accounting procedures they have

a different banking license they have. separate financial reports there's a very large sort of organizational infrastructure that they are now saying that they can merge into the into the corporate structure and save costs that way the important thing is that they're not that they're saying that this doesn't require them to cut any more jobs and this is balance of the broader restructuring do you know how that's going it's been a bit of a mixed bag so far they announced this restructuring in july it's one of the most ambitious restructuring programs in which a bank's history today they announced as part of this investor day that they're on track they're ahead of schedule in some places the investment bank which they've been paring back is actually doing quite well in the 4th quarter. some of their other banks are struggling with things like the interest rate environment here and you're out but investors are pretty cautious on this at this point because there are so many moving parts within which a bank and over the past several months shares have fallen about 9 percent since

they announced the restructuring and today they're down about one percent so i think investors are not quite sold on this yet ok thank you do we have financial correspondent chose to delineate in frankfurt. now the 10th of december is the anniversary of alfred nobel's death and the day when each year nobel prize winners on it it happens at a lavish event in stock home with lectures fine food and a presentation by no less than the swedish king when his receive money a diploma lifelong recognition and a medal made in sweden. the $2900.00 nobel prize medals this year there are 14 of them because there's more than one winner each award. each medal is engraved with its winners name it's the highlight of nicholas funch terms year. yes i am i am the only one who.

was doing this job. and why i think it's it's because of. that i have been doing it for 7 years and i know exactly how how to do it it's all begins with a thick 18 karat gold plate which has to cut so that it can go through the punch press. the punch goes through the metal as if it were chocolates. the gold coin alone even without the engraving is worth more than most swedes and in a month. i don't know exactly what it cost. crowns i think it's around 700-7000 euros. and the coins value increases once the head of the prize is found alfred nobel's is

imprinted on it then found packs it in a fine jewelry box that will be ceremoniously handed over by the swedish king is the most famous medal in the world. when i'm on one of those myself i'm unlikely to win one night so from a in the business team hair in bed linen if you will more from as you can check out our website w dot com slash business you know say find us on facebook and twitter about.

the famous naturalist and explorer. to celebrate. in 250 of the morning on the for discovery. expedition boy's. name is. in the. climate change. or soon. to be.

one of the for the future. dot com african legacy. the mechanic gives a clear answer. hello and welcome to news from the world about santa culture the golden globe nominations for film and t.v. are out i'll be discussing the favorites with scott rocks for also coming up we'll be talking about the 2 nobel prize for literature winners foremast year and this year will be receiving their awards in stockholm choose that. and in our continuing series $100.00 german must read an intriguing novel about a musical genius with

a supernatural sense of hearing. but 1st nominations for the golden globes have been revealed and this basically signals the beginning of the awards season in hollywood as always they are seen as whole tips for the oscars although we mustn't forget the globes are for t.v. is while i'm before i talk to my colleague scott let's have a look at the top runners in film and t.v. starting with martin scorsese's the latest star studded movie the hours from. what you would with a gangster drama starring robert de niro is a mafia hit man like picked up 5 golden globe nominations including best film and best director. both joe pesci as the deadly mafia boss and alpert shino as union leader jimmy hoffa we see supporting acting noms 3 and a half hour epic a story.