celebrated football, world cup wind, linelle messy and his teammates have abandoned a victory parade through buenos aires in favor of a helicopter fly over hundreds of thousands of fans packed the city center blocking the team bus. you're watching dw, stay tuned for the business news with daniel winter. remember, there is much more news on our website. that's d, w dot com. you can also find us on twitter or instagram handling need. there is at dw news, i'm almeni's. the thanks for joining with sh her again that i work that time and in the end is a me you, i'm not a lot of to you anymore. we will send you back. are you familiar with this?

with the smugglers with lions, the. what's your story? with. ready ready women, especially a victims of vine and seen a lot of them take part and send us your story. we are trying always to understand this new culture. so you are not a visitor, not a guest. you want to become a citizen. in phil migrants, your platform for reliable information ah, coughing up the cache once again that wells fargo is find over 3 and a half $1000000000.00 follows a similar payout in october. where exactly did the bank go so wrong? we'll get the view from wall street. also coming up modular building has come in

and out of fashion over the decades, but could its time have come to produce cheaper housing foster? we'll take a look at that time again, d, w, a business, welcome. u. s. regulators have audit banking colossus, wells fargo to pay $3700000000.00 in fines and customer refunds. it's the largest fine. the consumer finance regulator has ever slapped on a bank. wellsfargo has spent years dealing with a series of scandals tied to its sales practices. executives have repeatedly said the bank was cleaning up at fact, but the fines have kept coming. who better to talk about this forest against quarter on the new york stock exchange against the settlement covers a lot of different allegations. so what was wells fargo accused of? yet any and wells fargo by assets is the 4th largest them, us bank, and the allegations are pretty rough. so according to the consumer financial

protection bureau, consumers were illegally assessed fees and interest charges on auto and mortgage loans. hit their cars, wrongly repossess that had payments to order and mortgage loan, so misapplied by the bank. so some of that misconduct happened years ago, but some, as recently as this a year. and so now you have a $1700000000.00 a penalty that is the largest him ever a given a from the c, f a t b. and then on top of it to external clients, customers, we're talking about $60000000.00 people and who got hurt, enable a get about to, to a $1000000000.00 in a payment, said back. so that's where this is settlement a sense at this point does our litany of allegations there and the bank was find $2000000000.00 in a separate case in october has well said how it's going to clean up its act.

well, i mean at least when we're talking about this current, an act and wells fargo has already, as started said to a repay sort of the customer. so most of this a, to a $1000000000.00 to find comes on top of it. but at the head of the c, f, a, p, b, a. actually a put said wells fargo is a rinse, repeat cycle of violating the law has harmed millions of american families. i mean, just in 20 as 16. there was a huge, a scandal, a width of fakes account with a wells fargo. so what has happened is that in 2019 and you c e o came in and he might do a bit better than am his predecessor. so and a lot has to be at the head spin done, it may be a one final word or 2 this, some agency, the consumer financial protection, a bureau, it's a rather young agency. it started under barack obama, didn't really achieve that much. and then it got a lot of the criticism under

a former president of donald trump, and now that they also have an u. m head at this an agency. and we will see if he gets this agency rolling this case we were talking right now. the settlement, as you mentioned, is the biggest of by far yet for this agency, westport wells fargo said that they cleaned up their act. we'll just have to wait and see against caught on the new york stock exchange. thank you. bye. i'm going to say in the u. s. e. long mosque is actively searching for a new twitter c e o. that's according to american broadcast a cnbc, as after twitter, users voted on monday in favor of ellen musk stepping down. the controversial new owner of twitter had started the poll himself saying he would abide by the result. mosque has come under criticism for suspending journalists from the social media site, changing its verification process and firing thousands of its employees. or earlier we spoke to internet policy research, constantino's committees. we asked him if there's an upside to this chaos,

considering the billionaire currently helms to other successful companies, tesla and space x. one thing that we really need to be very conscious about is the fact that twitter is not tesla and it's not space x. and what i mean by that is that, you know, both companies where he was succeeded are purely engineering companies. and obviously he's very keen at engineering and he has a visa not hosted how to do that. and also he set them up from scratch when it comes to twitter. he came already intercom, but me that was already founded and it had a lot of problems. and it's much more complex than a pure engineering company because it has issues of content, moderation, and speech. and it's a global company that operates indifferent to the stickers. and as we know, even the united states and europe, which are 2 democracies that other very close had a very, very different interpretation on facebook. so you can only imagine what's happening

in other places looking elsewhere. now argentina's celebrations of its wild cut when have given the country paws from its worries over its economic issues. but for some, there is no ignoring the hardship. farmers in the country are facing harmful effects of climate change including severe drought. the entire american development bank is lending the country, half a 1000000000 euros to help reduce the impact the money is desperately needed. this is normally a fertile area. but years of drought have left terrible scars on no arrow 100 kilometers west of argentina's capital born osiris. lake so dried up animals have died. farmers like ignacio boston. cheery say they are desperate with a name or caught on the if you see a the i'm experiencing a water shortage for the last 2 years. and this year we haven't even reached 50

percent of the average for the area where we are now. i meant that, but i'll a party to that. how i now, as the crops no longer i have a reserve of humidity in the underground profile, that if they are suffering much more with the drought which on my left ear, his wheat crop is not even half the amount that it's supposed to be at this time of the year because he didn't have enough water. the prospects for corn are not too bright eater is not possible to plant in some areas. the ground is simply to dry. argentina, agricultural economists expect consequences for the whole industry very deliberately . but with this harvest of soy and corn, we had to prepare ourselves for the worst scenario we have seen in the last 20 years. and that is what we are see. we are in a situation where things are looking very complex and a government that devil under argentina is one of towards the biggest exporters of soy and court. this year's likely poor harvest will therefore be a global problem. now to some of the other global business stories making news,

people in oil rich venezuela, queuing up perpetual stations, which have run dry, waiting for new supplies, production stoppages at refineries of the state. oil company of course, fuel to run out in several states. venezuela has had repeated fuel crises in the last few years to to crumbling refinery infrastructure. amazon has agreed to make major changes to its business practices in the european union that according to regulators in that you, your 9 shopping and tech giant has accepted legally binding commitments and include changes to its prime program and by box gain commitments offered by and germany in france, formally asked b u. s to open up its new green production scheme to include e u firms. the inflation reduction act sets aside $370000000000.00 and subsidies, but only for companies manufacturing in the u. s. or countries with the u. s. for trade deal, the u worries that will distort trade. the price of housing is shooting up in

cities in developed nations across the world. the solutions build more and build cheaper. well, time for the revival of a technique that's been tried in the past, modular building build a say it's faster and more affordable. could it be the foundation of a new wave of cheaper housing? or is it just another brick in the wall? a simple box made of steel and concrete. soon to be home to a student in berlin. it is one of $500.00 such boxes said to be part of a new building on a university campus. the builders are making swift progress because they aren't building brick by brick. but apartment by apartment, each module waste 30 tons. they are delivered here from bavaria straight from the producer, a real estate developer that specializes in modular construction. our thought own

i'm, it's increasingly challenging to put up more housing. and our modular way of construction is obviously one way to build fast. this is a huge opportunity for us nationwide, modular building has really improved in recent years. the quality is better. so it's interesting for all different sorts of developments. construction workers prepare the mortar board where a new module will be placed within a few minutes. the building has another room and it's immediately accessible, hidden within the walls, cable cent pipes for water and heat. it was built in off site at the factory and chest needs to be connected. also there's a bathroom, and some of the furniture is pre built to bed wardrobe and desk. that's good news for those living near the construction site. man can reasonably screw i am. we can work without much of the noise. we don't have to do most of the drilling and cutting through walls anymore. that's all been done before. of and

a half of the lation of group in bavaria makes them modules concrete is poured into the mold. it hardens within a few hours and it's then pulled out. the company has invested in the technology since 2016 since then. public housing authorities can't seem to get enough of it. i'm is, tom is aforesaid is also the traditional and this pre building technology has boomed whenever there was a major housing shortage. we've seen this before, right after the war for example. and then after german reunification, when housing was needed in the east. and now we're seeing it again as the government pushes for more housing to be built when born was back in berlin. the student dorm is finished with $453.00 rooms. students will move in soon. just a year after construction began on the fly had home it's time for a mind or the top business stories. the following for you is our us regulators

devoted banking colossus, wells fargo to pay $3700000000.00 in fines, and customer refund is the largest fine. the consumer finance regulator has ever slapped on a bank. and he loan mosque is actively searching for a new twitter c e o. that's according to the american broadcaster cnbc, twitter uses voted in favor of musk, stepping down. a controversial owner of the twitter had started the pole himself. and that's it. you're up to date with d w business. thank you very much for watching from us here in berlin, and hope to see you again soon. ah, europe's plastic waste recycling in disposing of it is a global business worth 1000000000, riddled with money laundering and corruption who profits from it

who suffers from it. and where does all the plastic waist actually end up global 3000 next on d w. m, i'm more precise than you. i was stronger and faster, more efficient and cheaper. your favorite products could be made for less money. eli musk. thanks. i'll replace you one day. i see that you're not convinced. let's talk about it. made in germany. 60 meters on d w. o ah, we're all good to go beyond the obvious well,

as we take on the world, 8 hours, i do all the fans, we're all about the stories that matter to you. whatever it takes, 5 policemen follow being paid. deal . we are, your is actually on fire made for mines ah ah, welcome to labels 3000 stacks of cash. what with the global tr.