here's a reminder of the top story we're falling for you. argentine is enjoying a national holiday. the celebrated football world cup when the, you know, messy and his teammates have abandoned a victory parade through wayne as iris in favor of a helicopter fly over hundreds of thousands of fans pack the city center blocking the teams bus, watching dw, stay tuned for business news. with daniel winter, remember there is much more news on our website, that's d, w dot com and you can find this on twitter and instagram to handle. there is dw, thanks for watching us. i'm on east. every journey is full of surprises. we've gone all out to give you some time with home. i'm in your northern most count to

play with train times along very much alive. d, w channel. you'll guy to the special with recognizes where exactly it was fun. i learned a lot our culture history. all their d. w, travel extremely worth a visit with coughing up the cash 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. more 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 ordered 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 the 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, a rough. so according to the consumer financial protection bureau,

consumers were illegally assessed fees and interest charges on auto and mortgage loans. had their cas 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 year. and so now you have a $1700000000.00 a penalty. that is the largest him ever a given a, from the see if a p b and then on top of it. so clients, customers, we're talking about $60000000.00 people and who got and hurt it, able a get about to, to a $1000000000.00 in a payment, said back. so that's where this settlement stance at this point does. our litany of allegations there in 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 term act term, 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 as 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, his heart, millions of american families. i mean, just in 2016, there was a huge, a scandal, a with a fakes account with a wells fargo. so what has happened is spent in 2019 and you see old came in and he might do a bit better than am his predecessor. so a lot has to be at the head been done. it may be a one final words to the 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 was from 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 very much. i'm going to stay in the u. s. e. long mosque is actively searching for a new twitter c e o. that's according to american broadcast, as cnbc at after twitter uses voted on monday in favor of elan mosque. stepping down, the controversial new owner of twitter had started to pull himself say he would abide by the result. musk has come under criticism for suspending journalists from the social media site, changing its verification process and firing thousands of its employees will. earlier we spoke to internet policy research on 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 ex. one thing that, that we really need to be very conscious about is the fact that twitter is not tesla and it's not stay sex. 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 was a vision that housed and how to do that. and also he set them up from scratch when it comes to twitter, he came already into icon, but me that it 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 his pictures. 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 and looking elsewhere. now argentina's celebrations of its world cup when have given the country pause 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 inter 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 narrow 100 kilometers west of our gentlemen's capital born osiris. lake so dried up animals have died. farmers like ignacio boston, should he say they are desperate with any mclelland if you see 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 have a reserve of humidity in the underground profile, they are suffering much more with the drought which on my left ear. his with crop is another one 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. it's not possible to plant in some areas. the ground is simply to dry argentina, agricultural economists expect consequences for the whole industry very, very badly. but with this harvest of soil 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 delta dental of washington is one of towards the biggest exporters of soya 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 at petrol stations which have run dry, waiting for new supplies, production stoppages, 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, you, online shopping and tech giant has accepted legally binding commitments and include changes to its prime program and by box scheme 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 that moving construction workers prepare the mortar board where a new model will be placed within a few minutes. the building has another room and it's immediately accessible, hidden within the walls, cable st 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, of, and

a half of the lation at group and bavaria makes them modules concrete is poured into the mould. 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 has come to 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 reminder, the top business stories, the following for you is our

u. s. regulate as avoided banking, colossus, wells fargo to pay $3700000000.00 in fines, and customer refund is the largest find the consumer finance regulator has ever slapped on the bank. and elan mosque is actively searching for a new twitter c e o. that's according to the american broad costa cnbc 20 uses voted in favor of musk stepping down. controversial, owner of the twit 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. oh, africa ah, rising sea levels whose a growing threat ticked on us coast with more and more communities are getting swept away. scientists are desperately searching for

solutions. is it too late? eco africa. next on d. w. one of the most dangerous places in the world, the gulf of naples millions live here surrounded by volcanoes. but they're right on top of the ticking time bomb. a super volcano interruption is possible at any time. will it be the next pump paying me? under the volcanic threats in 40 dw, with what our sports all about in winning

fighting scoring, we say they're about never giving up the most exciting sport. stories about people passion and their dr. sports life every weekend on d. w. enjoying the view and come take a look at this tv highlight school every week in your inbox. subscribe now. ah ah, a great beauty jane, as for the next half hour in which will be looking on to some for me, a big issues.