The. Stories about people making a difference shaping their nation. And their continent africa on the move stories about a motivational change makers taking their destinies into their own hands d. W. Is a new multimedia series. D w dot com africa on the move. Is there a trade war in there over steel ministers of the g twenty the only c. D. R. Meeting in berlin to discuss overproduction dumping prices and tariffs but china seems reluctant to play nice. And its the biggest german i. P. O. In twenty years siemens will be listing its medical equipment business at the Frankfurt Stock Exchange next year. And after years of criticism australia is banks will finally be scrutinised by an independent inquiry. This is d. W. Business im in berlin trade ministers from g twenty countries have gathered here in berlin to avert an all out trade war over steel and as they say with regard to relationships its complicated china is under fire for throwing cheap steel on to World Markets to deal with its overproduction at home after its economy lost some steam recently the us post tariffs on foreign steel that in turn is irritating the e. U. Which said it would retaliate german trade minister get it supervisors warned that the chances of an agreement after this conference are slim heres what he had to say. If we do not find a resolution today i think we will miss a great opportunity. Because we must always remember it is a good reason why the countries of the g twenty set up the global forum global challenges need global. Well Business Correspondent she pointed she is at the meeting of the g. Twenty and always ministers economy minister a chip how are the talks going what are you hearing from delegates. Well. Chris germanys trade minister came in to make the Opening Statement and she was delayed a couple of minutes because they were in negotiations and speaking before the meeting was going to start and she described the talks so far as intensive and difficult those were the two words she used and so i think things have been really difficult and on the sidelines i spoke with pressbox person of the ministry who told me that china seems to be holding back on some of what has been agreed upon by all the g twenty countries that are represented here and as well as the o. E. C. D. Countries that are present so china seems to be holding them back right now china is now ready to disagree to agree to reduce its Steel Production capacity at this point. How important is this this meeting if theres no agreement being a reject the end of it what does that mean for the Steel Industry. Well we will know that of course in a couple of hours it will mean that the Steel Industry will continue to suffer from some of the troubles its had which is definitely dumping in terms of you know imports coming in from countries where steel is much cheaply produced china being one of them and so of course we know that the us has said that they might impose punitive tariffs on steel from china and the e. U. So its definitely going to be a bit of a problem weve heard about to some group as well potentially merging with. Tata steel we may be looking to jobs being lost in the industry and well definitely see the industry becoming smaller because obviously something needs to be done before you know if the industry is to survive the overcapacity that its going through right now to monitor that in berlin economy history thank you. And there are talks about another important commodity going on in vienna today where members of the opec cartel currently discussing to extend the cap on Global Oil Supplies for the next nine months the current agreement which limits the Oil Production to over thirty two Million Barrels a day runs out in march nono. Nono pleco producing countries rather attending the meeting as well including russia sources familiar with the matter say that opec and its allies are set to extend the output cutting deal. Fairly as big banks have come under pressure in recent years over a string of scandals the government had until now resisted the call for an independent inquiry but after a growing chorus of lawmakers in his conservative coalition vowed to support the demands australian Prime MinisterMalcolm Turnbull finally agreed is that the inquiry would help restore confidence in the Banking Sector australias banks stand accused of providing misleading Financial Advice avoiding Life Insurance payouts by using outdated medical definitions as well as rate rigging and failing to follow anti Money Laundering rules now australian Prime MinisterMalcolm Turnbull is heeding calls by other parties as well as members of his own government to start an official inquiry. Australians deserve and expect the highest levels of service and accountability and for the vast majority thats exactly what they receive. Since the financial crisis however they have been examples of misconduct by Financial Institutions some of them extremely serious and thats demanded a response from the institutions themselves and from government australian treasurer Scott Morrison wanted to dissipate any fears about an inquiry by sending investors a positive message. Astride these banks are unquestionably strong nothing that weve announced today china has this or gives any reason to question this on the part of the government the investigation will take about a years time banks across the globe have been handed ever tougher regulations perhaps in australia those rules werent tough enough siemens europes largest industrial complement chose frankfurt over new york for the listing of health nears its medical business which sells machines like m. R. I. Scanners of x. Ray machines to hospitals and doctors in the last Quarter Health in is was the largest of siemens nine divisions by revenue and its also the most profitable profitable one part of the i. P. O. Siemens is expected to sell a Minority Stake of up to twenty five percent listing at the Stock Exchange is a deal to take place in the first half of next year. Lets cross over to our financial correspondent on the cold in frankfurt donna whats the difference between issuing a share in new york for. Well garrett i mean you have lived here in frankfurt before as well why you need manhattan when you can have mine and here basically thats what investors here are telling me as well we are hearing that it was kind of like a close race between the new york Stock Exchange and frankfurt but at the end siemens decided for frankfurt because. Its saying that now also with breakfast at frankfurt as a Stock Exchange is getting more and more important and also very interesting for that defense Similar Companies like healthy new years are also being traded here on the Trading Floor such as dizziness and such as medical care as well the start off the i. P. O. By the well will be organized here by Goldman Sachs and the other company that because of rex it is moving many of their employees from london now to frankfurt. On a slightly different note siemens forced to come under fire here in germany recently for cutting thousands of jobs in their Gas Turbine Division is that justifiable while the Company Makes good profits. Yeah thats a very interesting question get i was just looking at the numbers in two thousand and sixteen and seventeen. Earnings went up by eleven percent sales also by four percent so of course there is more a question if the mens because they were just announcing that they were cut about seven thousand jobs here in germany many politicians have called this as a very irresponsible but of course you also have to take into consideration that the gas turbine business is really not any more as a strong also because of the energy turn ours here turn around here in germany so if these investors are telling me that they are understanding this decision but of course they also feel bad for all those people right now being very worried about their jobs hope thank you very much. In the u. S. The Republican Party is split about Donald Trumps plans to cut taxes to the one point five trillion dollars over a decade now Senate Republicans put forward new demands to cut the proposed rates tax rates even further from twenty two percent down to twenty percent the bill was passed in the house votes two weeks ago and the senate is set to vote on the measure thursday night president tom out of the legislation at an event in the sun charles missouri on wednesday saying the changes will cut waste from the tax system critics say mainly the rich will benefit but the president doesnt agree with americas tax code is a total dysfunctional mess the Current System has cost our nation millions of american jobs trillions and trillions of dollars and billions of hours wasted on paperwork and compliance it is riddled with loopholes that let some special interests colluding myself in all fairness is going to cost me a fortune this thing believe me believe this is not good for me. Meanwhile the u. S. Economy continues to expand the government just posted a three point three percent rise for the last quarter thats the quickest in three years and thats despite the nation being hit by two big hurricanes Business Investment is up a strengthening economy would also warrant continued rate increases but ours have slashed Fourth Quarter growth estimates due to a slowdown in Consumer Spending and sluggish wage growth. American airlines has inadvertently given too many of its pilots time off over the Christmas Period due to a Software Malfunction that leaves around fifteen thousand flights scheduled without a captain copilot or both according to the pilots were usually stuff occasion requests are automatically denied if there arent enough pilots to fly the plane but passengers dont need to worry just yet the airline plans to fix the error by calling on its reserve pilots and offering enticements like overtime pay. Include a box of chocolates and thats it from me on the Business Team here in berlin ill have an update for you in the next hour meanwhile check all the twitter and facebook feeds if you havent already thats it for the moment thanks for watching bye bye. Hotbeds of jihan. French prisons. I asked recruiters have it easy here thousands of prisoners are squeezed into overcrowded jails which model home for their futures. Country mokhtari was one of them he explains how she nearly became a terrorist. Next d. W. Entered the conflict zone a new president has taken the oath of office in zimbabwe but you see any different from the old one my guest here in london is nick by one of the u. K. Representative of the countrys ruling zanu p. F. Party with thirty five years of bloodshed on the house and the economy doing really has no Business Today have continuing to adopt it. In sixty minutes t. W. Every journey begins with the first step and every language with the first word i looked in the. Nico is in germany to learn german why not learn with a simple online on your mobile and free stuff for d w z learning course nikos basic german made easy. G. W. True diversity. Where the world of science is at home in many languages. On top of programming go on there you know. That with us our innovations magazine for any. Of us from every week and always looking to the future fund d w dot com science and research for asia. Hello and welcome to focus on europe glad you could join us hes responsible for