pasta bank that it was a deal to gays in the making german industrial giant to some koeppen india's tata steel automotives they european steel making operations that's high up which still needs regulation the approval is conceived to take on the flood of cheap chinese steel unbalancing world markets. the joint venture comes in response to the problem of overcapacity on the global steel marcus' the new firm which will be known as to some crop tata steel will become europe's second largest steelmaker are. paid if this is really the key issue to move successfully for the global existed as if he had also cost tremendous additional imports into europe imports into your about an all time high level which have additional increased the price pressure on that material. it's hoped the tie up will lead to hundreds of millions of euros in savings each year and satisfy investor demands for increased efficiency the marriage firm will employ some forty eight thousand workers in countries including germany the netherlands and u.k. and six specter to generation annual revenue of around fifteen billion euros. y

a merger of steel — tata steel and thyssen—krupp finally reveal their intentions for marriage to createe's second biggest steel maker and on the markets... this is how hong kong closed at the end of last week. they are closed today for a public holiday. investors are getting their heads around the news including dissension in the ranks in germany. the euro is weaker. left—wing candidate andres manuel lopez obrador has won a landslide victory in mexico's presidential election, exit polls indicate. his closest rivals have both admitted defeat and congratulated mr lopez obrador on his victory. his election comes at a time of disillusionment at unchecked corruption, violence and poverty. so, what challenges will the new leader — best known as amlo — face? the good news is mexico's economy grew by 2.4% in 2017, with similar growth rates predicted for this year. but the country faces several interlinked problems. the biggest is mexico's massive violent crime rate, with over 29,000 murders in 2017 alone. aside from the terrible human cost, this statistic also carries an economic weight — the m

tata steel confirmed a european tie up in c.e.o. also coming up trade war and disappointing economic done in about the market sell off trumps next tariffs the city china this week. i'm invisible and that's your business a global trade war and a political crisis in europe's biggest economy a lot to digest for investors this monday economists are concerned if germany's fragile coalition collapses little business here and right across the continent the government's fate is hanging by a thread over an elusive migrant deal interior minister jose hope for threatening to resign is a variant conservatives pushing for a showdown talks in the next couple hours a strong administration in berlin is vital in a goshi ating trade disputes with the united states and china experts fear the political wrangling will bogged down the development of important factors for germany's economic future like its high speed digital infrastructure let's see how the prolonged german government crisis is affecting markets cannot booze in is at the frankfurt stock e

a potential new medals giant is trying to fend of a crisis in the steel sector germany's citizen cope and india's tata are merging their european steel making operations after two years of talks that's of course of at the toss i thought he's approve of the deal which will lead to job cuts. the joint venture comes in response to the problem of overcapacity on the global steel market as the new firm which will be known as to some crap tata steel will become europe's second largest steelmaker. difference is really the key issue to move successfully forward. globally existed as if he had also cost tremendous additional imports into europe imports into europe all time high level which have increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts savings of hundreds of millions of euros each year the marriage family employ some forty eight thousand workers in countries including germany the netherlands and the u.k. and it's expected to generation annual revenue of around fifteen billion euros. this was not a merger but almost too big names in european re

two major steel producers tuussenkrupp of germany and india's tata steel have agreed to merge, in thee than a decade. the new company will be the second largest steel manufacturer in the region, employing almost 50,000 people. the two firms have been in negotiations for more than a year. they had previously warned that about 4,000 jobs could go as a result of the merger. tomos morgan reports. jobs have been cut, pension terms reduced. but now it seems the steelworkers have some security. port talbot is home to almost half of tata's british workforce, and today's news is most welcome to scott barmsey, who, along with several family members, has worked in this steelworks all his adult life. morale has been really low over the last few years. i think today has given us some sort of clear future and a bit of a weight off our shoulders. thyssenkrupp tata steel bv will be the second—biggest steel maker in europe. together, they will have a workforce of around a8,000. the 50—50 joint venture anticipates making cost savings of between £350 million up to £440 million a year. and due to the inc

tata steel and thyssenkrupp tie the knot. warm welcome to the programme, briefing you on all you need to know in global news, business and sport. and wimbledon, kicking off later today. and we'd like you to be a part of the conversation, do tell us what you think about the stories we're covering, just use #bbcthebriefing. we begin in germany, where the ruling coalition is facing more uncertainty after its hardline conservative interior minister offered to resign over immigration policy. chancellor angela merkel has faced mounting criticism from horst seehofer, who is also the leader of the bavarian csu, and a traditional ally of her party. mr seehofer has been pushing for a tougher approach to asylum—seekers, and was reported to be unhappy about last week's european union deal on migration. my colleague david eades is in berlin. it looks like a glorious morning in berlin, but a very difficult time for the government? it is, and for all the sunshine, sally, it is shrouded in uncertainty at the moment. germans are waking up won

of overcapacity on the global steel market as the new firm which will be known as to some crap tata steel will become europe's second largest steelmaker. if this is really the key issue to move successfully for the global exist up as if he had also cost tremendous additional imports into europe imports into your about an all time high level which if you're decently increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the marriage firm will employ some forty eight thousand workers in countries including germany the netherlands and the u.k. and it's expected to generate an annual revenue of around fifteen billion euros. this was not a merger but almost too big names in european retail are teaming up britain's tesco and francis ford will work together to boost competitiveness and offer customers lower prices it's a move to deal with increasing pressure from competitors. they're calling it a long term strategic alliance european food retailing giant tesco and car for are hoping tha

of overcapacity on the global steel market as the new firm which will be known as to some crop tata steel will become europe's second largest steelmaker. compared to the if this is really the key issue to move successfully for the global excess capacity had also cost tremendous additional imports into europe imports into your about an all time high level which if your vision of the increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the marriage firm will employ some forty eight thousand workers in countries including germany the netherlands and the u.k. and it's expected to generate an annual revenue of around fifteen billion euro as. you just saw ahead of a he's ing at the c.e.o. or to sit in that report and we can speak to him now he joins us from brussels welcome to the program let me first ask you why this move now. i think it's about now you probably will come back to the pond did took us roughly two years to go forward what is the root cause here we have a structure ove

problem of overcapacity on the global steel marcus the new firm which will be known as to some crop tata steel will become europe's second largest steelmaker. if this is really the key issue to move successfully for the. global existed as if he had also cost tremendous additional imports into europe imports into europe are an all time high level which have only increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the marriage family employs some forty eight thousand workers in countries including germany the netherlands and the u.k. and it's expected to generate an annual revenue of around fifteen billion euros. when that press conference my colleague helen humphrey had a chance to speak directly with choosing hope chief executive. is what he had to say. we have a structure overcapacity first deal in europe and as a consequence out of that the utilization rates for all the steel companies were not high enough to really chinoy the directive returns going forward and for our employees

germany's to some group and india's tata steel have merged their european operations. the merger is aimed at dealing with problems caused by the flood of cheap chinese steel swamping global markets. if this is really the key issue to move successfully for. global exist as if he had also cost tremendous additional import into europe imports into europe. which have increased the price pressure on that much. soon after the announcement time that he zinger said he would be stepping down as c.e.o. he's been embroiled in a dispute with the supervisory board over the company's future direction a major shareholder and a u.s. hedge fund are pressing for an overhaul with a view to boosting shareholder value the tata merger alone is expected to result in four thousand job cuts and save hundreds of millions of euros a year. the merged entity will employ forty eight thousand workers in countries including germany the netherlands and the u.k. with expected annual revenues of fifteen billion euros. turkey statistics office says inflation narrows sharply in june topping fifteen percen

after ceo heinrich hiesinger offers to resign less than a week after sealing a landmark deal with tata steel. >>> and falling out of orbit inmarsat shares sink after rejecting a takeover bid from echostar >>> quite a positive start, positive day for u.s. equities yesterday. that was one day after the independence day liquidity was thinner than usual. the three major indices ended up in the green today the picture looks to be positive we have the dow opening up about six points higher. nasdaq about five points higher. generally speaking, the tech sector has been doing very well in the u.s. with the nasdaq having its best day in more than a month. switching to european markets, generally trading in the green we've seen xetra dax bounce about a quarter percentage point in the last 15 minutes or so so it looks like there's good momentum there in these early hours of trading what we've seen is ftse mib is outperforming today as well as cac 40 ftse 100 up 0.2% and is the underperformer on the week let's look at foreign exchange dollar/yen trading slightly stronger but no major moves there. euro/do

or to syncrude that merger with tata steel to make the second largest european steel company at a time well very difficult time for the steel ball pits are at that story coming up in one minute. is going to. the banks. and who was the language of the bank. speaking the truth global news that matters g w played for martin's. press in your seat belts.

problem of overcapacity on the global steel market as the new firm which will be known as crop tata steel will become europe's second largest steelmaker air. defense is really the issue to move successfully forward. globally existed as if he had also cost tremendous additional imports into europe imports into europe all time high level which if the increased the price pressure on that much. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the mad scramble employ some forty eight thousand workers in countries including germany the netherlands and the u.k. and it's expected to generate an annual revenue of around fifteen billion euros. the world cup in russia favorites brazil come for the big beating mexico kind of client is here to take a story to. brazil games over what happens there quite effective shutting out the mage at the most once in madrid i mean mexico of course offense and it took them fifty one minutes to actually open the scoring neymar scoring that opening goal and mexico did fight back they try to score th

germany's to sinclair and tata steel as well r t unite tell us more about that much. well this will become the newly formed company will become the second largest steelmaker in europe and the legal seat of the company will be in the netherlands which means also that it's very likely that the influence of the unions in the supervisory board of this new company will be much smaller than it used to be at the otis and group still the unions agreed to the deal the competitiveness of the two companies was if they had stayed alone too much in doubt the right color had risen for us in frankfurt thank you conrad. the malaysian investors have started the week tentatively as they prepare for the u.s. to impose heavy tariffs on a range of chinese imports the levies on billions of dollars worth of goods and to come into force at the end of this week is a follow on the heels of data published over the weekend showing that chinese manufacturing activity slowed in june as the world's number two economy shows signs of a slump. another dramatic day at the world cup in russia with the h

well that's really one of the big stories in corporate news today finally tata steel and coupes steel businesses are becoming one it's going to be the second largest steelmaker here in europe and the legal seat of the company will be in the netherlands which also means that the influence of the unions on business the influence of the unions in the supervisory board of this company will likely be much smaller than currently at two thousand coupe at least still the unions have agreed to the deal because well obviously the competitiveness of the two companies if they had stayed alone was too much in doubt a financial correspondent kind of whose interest at the frankfurt stock exchange thank you can write. asian investors is sort of the we tend to play as they prepare for the u.s. to impose hefty tariffs on a range of chinese imports the levies on billions of dollars worth of goods itching to come into force at the end of this week they follow on the heels all day said published over the weekend showing that chinese manufacturing activity slowed in june as the world's number two economy s

comes shortly after to send announced a deal to merge its european steel business with indian rival tata steel. back over to sara now in plenty of world cup excitement absolutely we are heading straight to a moscow because we have our correspondent standing by it is the day that the fans of the eight remaining world cup teams have been waiting for sports correspondent all over moody is in the middle of it all in moscow good morning to you ali let's kick off with city's upcoming quarter final games what are we expecting here because we have your guys' match up with france. yeah france certainly one of the most talented sides in the world they showed in the last game against argentina. when they let loose in attack it can get really quite unpleasant for the opposition the main man for them again will be the likes of greaseman. and of course. in the last game was just too much for the opposition he was too quick and too clever for argentina and he and france will be hoping they can repeat that performance but france do have to be a little bit careful at the back they conceded three goals against

tata steel and thyssenkrupp tie the knot.

francine: germany's thyssenkrupp and india's tata steel have reached a final agreement to set up whatpean steel champion." the companies say they see synergies of 400 million to 500 million euros, and that the joint venture is for the long term. it is expected to come into effect in 2019. are you satisfied, more or less, with the outcome of renegotiations over the deal terms? heinrich: i'm satisfied. we've brought a two-year negotiation to a successful end, and what is most important is that we could address the four major issues for us. that we really address the structure problem to the steel industry in europe, that we create substantial value for shareholders with the synergies you mentioned before, 400 million to 500 million a year. and for the majority of our employees, we could secure a more promising future. but the fact that we remain shareholders, it is also a good cultural fit for our transformation. david: how does this joint venture that into a world where there is too much steel being produced? natarajan: i think that is why consolidation becomes very important, so we ca

major restructuring at the company thyssenkrupp has faced criticism for attempting to merge with tata steel. >>> and strong but not stellar that's how netflix described its second quarter, but investors appeared to disagree sending shares down 14% in extended trade. the streaming platform reported 674,000 new do mes ek subscrimec subscribers. the firm missed expectations for the first time in five quarters. netflix issued weaker than expected gee ed guidance for th quarter. julia boorstin has more on this. >> reporter: subscriber growth stalling short of estimates sending shares plummeting. the company adding 5.15 million subscribers, more than a million short from the 6.2 million it projected it would add netflix forecasting lighter subscriber growth in q3 than expected, 5 million new subscribers versus the 6 million analysts projects. reed hastings did not attribute the shortfall to competition but to challenges to the internal forecasting. revenue came in at 3$3.9 million an increase of 40% from the quarter earlier. hastings did address growing competition head on saying he believes ther

of overcapacity on the global steel market as the new firm which will be known as to some proper tata steel will become europe's second largest steelmaker are. prepared if this is really the key issue to move successfully for the global existed visited also cost tremendous additional imports into europe imports into europe of all time high level which if only increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the marriage firm of employ some forty eight thousand workers in the countries including germany the netherlands and the u.k. and it's expected to generate an annual revenue of around fifteen billion euros. after the press conference my colleague helen humphrey had the chance to speak directly with physical chief executive. is what he had to say. we have a structure overcapacity first deal in europe and as a consequence out of that the utilization rates for all the steel companies were not high enough to really chinoy the directive returns going forward and for our employe

will talk about the joint venture agreement with tata steel.tle bit of a selloff when it comes to equities. stocks offer lower futures at the start of a crunch week for global trade. the pound lower. this is bloomberg. ♪ ♪ francine: german chancellor with her ition partner. chris vis in the biggest economy. b.m.w.'s trade warning, the lobby againsts to tariffs. wins in ft-wing leader a landslide. what does that mean for with its relationship southern neighbour. francine in i'm london. tom is in new york. tom, we look at global markets. on the downside. the ean markets following asian markets. investors want to position hemselves in case trade wars escalate. tom: may be uncertainty over the weekend. twice, three times - proclamations from the white hours.nd reversed within it was back and forth. given some uncertainty this morning. it has.: let's get strikes to the bloomberg news in new york city. is kaillie. >> hi, for the first time in mexico elected a left-wing president. 54%won in a landslide taking of the votes. fix the mised to and avoid t

to get the move comes shortly after to sin announced a deal to merge its european steel business with indian rival tata on to the other topic that is keeping us busy this week the trade dispute between the world's top two economies us showing no signs of letting up with just hours to go until china and the us impose billions of dollars worth of tariffs on each other the question is not only how this will impact business but what will happen next. u.s. tariffs on chinese goods go into effect on friday. the twenty five percent levy will apply to a host of technological products the value of the measures thirty four billion dollars china's response a range of tariffs on american goods also worth thirty four billion dollars also from friday and this could only be the beginning washington as a ready threatening further action prompting china to accuse the u.s. of fueling a trade war. which will you all move on to your notion that the us has again threatened to impose new tariffs on the five hundred billion us dollars worth of chinese products. and not only that it's also made this kind of threat to other co

. ♪ >> germany's tata has reached agreement to set up a european steel champion.rgies of 400 million to have hundred million euros, and that it is for the long term. are you satisfied, more or less, with the outcome of renegotiations over the deal terms? >> i'm satisfied. we've brought a negotiation to a successful end, and it addressed the four major issues for us. it addressed the structure problem, that we create substantial value for shareholders with the synergies you mentioned before. for the majority of our employees, we could secure a more promising future. but the fact that we -- it is also good for our transformation. >> how does this joint venture that into a world where there is too much steel being produced? >> that is why components become important, so we can be much more competitive. we will not be able to achieve the kind of operation we can achieve together and that is why the consolidation makes more sense. >> the ceo has resigned, bowing to shareholder pressure, stepping down days after the company signed a deal for a joint venture that was str

tariffs a potential new metals giant is now trying to avoid a crisis in the steel sector germany's tizen corp and india's tata are merging their european steelmaking operations after two years of talks that's of course a factor trust authorities approve of the deal which will lead to job cuts. the joint venture comes in response to the problem of overcapacity on the global steel market as the new firm which will be known as. steel will become europe's second largest steel making or. if this is really the issue to move successfully for. global existed as if he had also cost tremendous additional imports into europe imports into europe all time high level which if additionally increased the price pressure on that material. to tie up is expected to result in about four thousand job cuts and savings of hundreds of millions of euros each year the marriage firm will employ some forty eight thousand workers and countries including germany the netherlands and the u.k. and it's expected to generation annual revenue of around fifteen billion euros. that's all for business now expect to feel for more political leaders h