chancellor merkel heads to the white house amid growing us complaints that german business isn't playing fair. plus, a yawning hole in our finances. we lack of sleep could be if??? g; l??? “inhiiéiuféfiif billions from the global wiping billions from the global economy. welcome to world business report we start in the us where president trump will be hosting german chancellor angela merkel at the white house later. coming up, singapore has its best month for trade in five years. now, back to the us, and their meeting w eit‘fiteetitiq germany later. the two nations are major trading partners — but there's been growing concern on the us side that their relationship is simply not fair. the rhetoric has raised fears of a damaging trade war. let me show you why. last year the us sold $49 billion worth of goods to germany — everything from boeing airliners to pfizer'medicifieif—'——'—'—*— ., ———— — ——— that sounds like a healthy figure until you look at this one %“: elli; $531e§3§'5§§z5“§; that's a lot of bmws — not to mention everything from industrial machinery to medicines. it's more than double. and it puts the difference — known as america's trade deficit with germany — at $65 billion. that's a bigger deficit than the us has with mexico — and in fact any other country except china and japan injanuary one of president trump's top trade advisors accused germany of using a "grossly undervalued" euro to "exploit" the us. chancellor merkel rejects the claim — and points out the thousands ofjobs created by german investment in the us. she says she will remind the president that bmw's us plant exports more us—made cars than gm and ford put together. the bosses of bmw and another huge employer in the us — industrial giant siemens — will be travelling with her to make the point. we'll be getting the views of a frankfurt—based economist in 20 minutes‘ time. carsten brzeski is chief economist at ing—diba and joins me via webcam from frankfurt in germany it seems clear that her tactic during this meeting is going to be focusing on trade and the benefit that germany brings to the us and not the other side of the coin. she makes a point clear by taking these business people with her. she will try to teach . trump a lesson in try to teach mr trump a lesson in trade economics, trying to let him know that german exports are a good thing for the global economy, that germany is a big employer in the us economy and the trade sanctions to germany would be harmful not only to jump germany would be harmful not only to jump germany but the rest of the world. they had widely differing views in terms of things like the environment as well. do you think that will be of brought up in the meeting? that do have a lot of time but it is a issue for angel merkel. there are many things on which they do not agree. the environment, refugees, and i don't know if they have the time to go through all these points. i think it will be more of a courtesy visit to the more of a courtesgvisitiojhe time, to exchange views and first time, to exchange views and shake hands have doubts over whether they will have shake hands have doubts over whether they will- have an in—depth they will really have an in—depth discussion. there is a feeling among discussion. there—isefeelingfamefigu— some and, particularly in the trump administration, that germany is getting the best deal as far as the euro is concerned. it has a huge trade surplus because of the relatively weak euro compared to the state of the german economy. there is some truth in that, isn't there? obviously, as with so many people that the trump administration has said there is a tiny bit of truth there and the fact that germany is running a high trade surplus has been criticised not only by the us but by the european commission. the other thing is that it you cannot blame the germans for producing good or you oryou can blame or you can blame the products. or you can blame the germans for is that they import too little comment little. they need more investment in germany and then the surplus would automatically disappear. let's stay with the subject of trade and go to asia now where there are some very positive news from singapore. the citystate is seen as something of a barometer of global trade and it has posted its biggest jump in of global trade and it has posted its biggestjump in exports in five yea rs. its biggestjump in exports in five years. rico hizon has been looking at for us. years. rico hizon has been looking at - for us. if you take a look, at that for us. if you take a look, if you take a look at the february domestic exports grew at the fastest pace since september 2012, fuelled by demand for tech products and a sharpjump in by demand for tech products and a sharp jump in shipments to china. the petrochemical industry was also a major bright spot for the economy. so the stronger than expected data adds to optimism now over a manufacturing revival for asian exporters. but despite these exporters.—but:despitethesesnumhers a nalysts exporters.—but:despitethesesnumhers analysts remained cautious because it is still a trade dependent economy and that could change at any time. there is concern over trade protectionism and geopolitical risk. the annual rise in february was the biggest in five years students strong shipments to china and south korea. the united states is also korea. the united statesisralsem .. , ,, and korea. the united statesisalsem .. . .. and the economy has been rebounding and the economy has been on the ropes over the last few years with growth slipping . a seven year with growth slipping to a seven year low in 2016 as exports slowed amid gliégbfi global low in 2016 as exports slowed amid qfaf global growth. low in 2016 as exports slowed amid emigfizlgj; global growth. thank you sluggish global growth. thank you very much for that update. and, one of those trade figures, if that gives you have your eyelids or, like me, you start work at three a.m., this may wake you up. a lack of sleep is costing the world economy billions of dollars in lost productivity. today is world sleep day and our reporter as being to find out why nodding off instead of logging on could be good for business. we all know that we need sleep. scme= people probably need more sleep than others. but what happens if you do not get enough? what does that mean or not get enough? what does that mean for ‘ability not get enough? what does that mean for ! ability to do yourjob? to not get enough? what does that mean for! more, to do yourjob? to not get enough? what does that mean for! more, i) do yourjob? to not get enough? what does that mean for! more, i have vourjob? to not get enough? what does that mean for! more, i have come b? to not get enough? what does that mean for! more, i have come here» not get enough? what does that mean for! more, i have come here to find out more, i have come here to the clinical research centre at the university of surrey in southern england. the experts he will look at what happens to your mind when you a nap and what happens if you take a nap and what happens if you don't get enough sleep. take a nap and what happens if you don't get enough sleeplj take a nap and what happens if you don't get enough sleep. i will go every few things that we will do after we finish wiring you want. this doctor is a research fellow at the university. 18 studies what happens to a sleeping brain and has analysed how insufficient sleep can have damaging effects on health and performance. sleep deprivation can lead to a mental state which is very similarto lead to a mental state which is very similar to being drunk. in part, because you are not aware of your inability to focus or perform at your best. and yourjudgement is paired you, your speed is impaired. we have some instructions now from the control room. this comes at a cost. analysts say that lost sleep can cut economic output by up to 3%. in the united states costs to $411 billion a year. injapan, 138 and in the uk, $50 billion billion. and in the uk, $50 billion just over £40 billion. people who do not sleep enough died prematurely compared to those who slip a healthy number of hours. they are more likely to die of cancer, cardiovascular disease or to have a cardiovascular disease or to have a car accident. and the other end, we know that people who sleep enough know that geogle who sleepenouuh! more likely to come into work are more likely to come inttrwrjriir be are more likely to come inttrwcrrk be productive compared to people and be productive compared to people who do not sleep enough. sacrificing sleep to work long hours may impress your boss but it may be dangerous and could be costing your jail}! your boss but it may be dangerous and could be costing your gaff; a ! and could be costing your company a great deal. so was a lack of sleep is really costing economies billions, what can be done about it? employees can help themselves by not staying up so late at night when they have an early start in the morning. employers can help i not morning. employers can help by not sending so - late—night in mouse sending so many late—night in mouse and perhaps dividing a nice quiet co mforta ble and perhaps dividing a nice quiet comfortable place for their workers to have a well earned nap. if you excuse me, this reporting business is tiring so i am going to have a nap. always know where to find him in the newsroom. a quick look at the newsroom. “— the newsroom. a quick look at the newsroom. —— market. and i dropped slightly. —— the japanese yen —— market dropped slightly. the dollar has continued slide that began after 93.5 continued slide tigg; ggggg gig; federal hg; continued slide iiggi lggggg giig; federal reserve was unlikely to the federal reserve was unlikely to speed up military tightening. wall street was subdued after strong gains following the rates decision from the fed. now a think tank is warning that the average secondary school in england could seed funding drop in real terms by nearly £300,000 by 2020. the education policy institute has been looking at the impact of the proposed new funding formula. i says it national funding formula. it says it could be the equivalent of six fewer teachers at every secondary school and two for at every priory school. pa rents parents and pupil in cheshire protesting last month about a lack of funding for their schools compared to other areas. subject terminology... the government has plans to redistribute funds more fairly and it says that at £40 billion a year, school funding in billion a vear, schoolfundingin is higher than it ever has england is higher than it ever has been. however, a report has concluded that no school will avoid a real terms cut in budget over the next few years. schools face budget constraints. the cost of running the school increases, rising number of stu d e nts school increases, rising number of students and from local authorities having less money to spend. so while the distribution of money may be the atnhfnn er mnnemau se ‘ there is simply the atnhfnn er mnnemau se ‘there is simply not enough fairer there is simply not enough money in the system to meet the pressures . money in the system to meet the pressures. the education policy institute estimates that by 2020 the average real terms lost funding per primary school. be £74,000 and primary school will be £74,000 and postsecondary school, the average cut will be £291,000. that equates to every primary school losing two cut will be £291,000. that equates to every and ary school losing two cut will be £291,000. that equates to every and every 1ool losing two cut will be £291,000. that equates to every and every secondary two cut will be £291,000. that equates to every and every secondary school teachers and every secondary school losing six. the government says it is recognised the pressures that schools in england are facing and is helping them to make savings. the uk's biggest everfine the uk's biggest ever fine for river is likely to be imposed pollution is likely to be imposed today. the crown court will hear that the company spilt raw sewerage into waterways at six different sites in 2013 -14. the into waterways at six different sites in 2013 - 14. the company sites in 2013 and 14. the company was fined l january for repeated so was fined in january for repeated so rich. pollution —— sewer. i'm james menendez. the top stories this hour: britain's electronics surveillance agency, gchq, has described as "utterly ridiculous nonsense" claims that it was asked by president obama to spy on donald trump during last year's us presidential election campaign. hungary is pressing ahead with the construction of 2 container camps for asylum—seekers on its border with serbia, despite a chorus of international criticism. by the end of march it plans to keep all asylum seekers in detention there. activists say more than forty people were killed when a mosque in north—western syria was bombed by unidentified warplanes. the syrian observatory for human rights said the mosque we start our news review with the telegraph online. it reports that britain's communications intelligence agency — that it helped former us president obama allegedly wiretap donald trump. gchq says the claims against it are "utterly ridiculous'" and should be ignored. the financial times has the unveiling of mr trump's budget plan, which would cut spending on the environment, diplomacy and foreign aid. the military and a mexico border wall, are set to get funding. in thejapan times — us secretary of state rex tillerson on north korea. he made the comments while in tokyo but no specific details were revealed. mr tillerson is now in south korea. tie’fziefifi euf-q eeiffieiee : l that's the headline in the times, which reports an investigation has found uk government advertising on youtube has seen money go into the pockets of extremists like banned hate preachers, rape apologists and anti—semites. a diplomatic row between turkey and the netherlands has escalated this week. and in what might be one of the more unusual breaking of ties turkey's now said it doesn't want prized dutch cows that it has, and they'll be sent back to the netherlands. that's in the gulf news. joining us is broadcaster henry bonsu.