that s according to new data from global forest watch the fees to live defense against climate change and the researches have called for urgent action against deforestation the loss is equivalent to pretty foot four feet every minute. merger talks between germany s two biggest lenders dortch a bank and comments bank have been called off potential risks and restructuring costs was cited as reasons the deal was backed by germany s finance minister who wanted to create a so-called national banking champion but the idea was met with opposition critics fear the loss of some thirty thousand jobs. a financial correspondent ali bots is tracking that story he joins us now from frankfurt what gets more about why these talks collapse and what this means for deutsche and commits buying. well one group spokesman the group spokesman for the bank addressed journalists just
in the kraut naturally coach caught under an aussie said his side had asked for the match to be suspended three times because of the chance. time some business news now with ben and some wild swings on global exchanges then is getting very exciting as the year comes to an end so much for that rip roaring post christmas rally on wall street yesterday the biggest ever points boost today investors fear is a returning as quick as that wiping out most of those gains in new york stock exchange sliding back into bad territory fallen by about two percent some traders calling wednesday s surge a dead cat bounce a brief interruption of an otherwise downward trend most of this month has looked bad worries over slowing economic growth weighing on sentiment the picture in frankfurt to the dax struggling to a two year low in asia markets what makes. we asked our financial correspondent ali bots to fill us in on thursday session the rally on wall street
a case of hang on to your hats again. well asia struggle to mount a recovery today but there was a strong rebound in european markets let s bring in ali bots he s been tracking the dax the main index of german companies in frankfurt and it s one of today s best performers only the germans know something the rest of the world doesn t. i don t know if they do but i think i think they suspect that probably the losses incurred here in the german market compared to the losses elsewhere were a little bit unfair perhaps were a little bit exaggerated when you consider the state the economy is in here in germany compared to other markets and countries that were affected by this turmoil last week and when you look at the stock market valuations which for most of the major german shares are still quite reasonable i mean they re high but they re not really overly high and i think that goes for the present situation as well but