people who -- >> are you threatening me? threatening me with physical violence? >> i am. stop hitting on my wife every time you see her, please. >> lively encounter with nick cannon. see the rest of that interview on monday, and that's it for tonight. >> a lively encounter with nick cannon. see that interview monday. that's it for tonight. -- captions by vitac -- www.vitac.com hello. here are the headline this is hour. lawyers for mladic are trying to stop him from being extradited to the hague. he's accused of war crimes in connection with the 1995 massacre. ultranationalist protesters in si serbia are demanding he be

treed. jacob zuma will try to convince moammar gadhafi of peace talks. his rival and another fifa executive have been temporarily -- a coalition commander has offered his sincerest apologies for an air strike on saturday that he says killed nine people in afghanistan. and earlier toll according to afghan and nato forces was 14. hamid karzai condemned the strike. those are the headlines. "world business today" starts right now. good morning from cnn

london. >> good afternoon from cnn hong kong. you're watching "world business today." here are our top stories for this monday, may 30th. fifa boss is cleared and ready to run for re-election unopposed after two other executive members were suspended for alleged bribery. the euro remains under pressure as greece's bailout plan falters. it's a dream job for the man in the driving seat, a ferrari. we'll take you to the luxury car maker's italian hq. let's check on european stock markets. they've been open now for about an hour. not all of them because both london and american markets are closed on monday. the suspicion is we'll be seeing some fairly thin trading. and in that thin trading in paris and zurich you're seeing

gains. one theme actually that we are seeing for german stocks is the fact that the german government has now decided to close all nuclear power plants in germany by 2022. so that is weighing on german energy stocks. we're also seeing a slight selloff for gold after it hit, what, 1536 last month. really the overbearing story here is not so much euro weakness, though that is a factor as well. actually we are seeing a fair bit of dollar weakness as well. sterling there 1.6464. analysts say we could well see the pound breakthrough 1.65 and go well above that in the next few days or in the next few sessions. japanese yen, 80.81, andrew.

>> charles, here in the asia pacific, the story still revolves around shanghai, down again today for an eighth con sective session. the hong kong market managed to finish higher. elsewhere the new zealand dollar has hit a 26-year high against the u.s. dollar. up almost 9% since late february as demand for new zealand produce grows throughout asia. closing numbers now for the markets, the shanghai market finishing down not much. remember, it is eight days in a row now it's lost ground. hong kong up, not by much. australian market down by about a third of 1%. a couple of stocks that investors are paying close attention to this monday, one is honda which was down 1.3% in tokyo. two reasons behind that fall. the first was a nikkei news report. the car marker won't go ahead

with the proposed buyback. that came after a weaker than expected forecast on profits. the other reason stemming from canada. hackers there accessing honda customers' personal data. another company no stranger to hacking is, of course, sony. that stock was down more than 2% in tokyo today despite the entertainment giant managing to get its playstation network back up and running throughout much of asia. the company has overseen a phased reintroduction of the service after more than 70 million gamers' details were compromised by hackers last month. they'll send an executive to the u.s. congress this week to testify about that breach. charles? futbal's governing body. by clearing the association's much criticized president and implicating blatte's only rival for the top job, they've done little to enhance their reputation. an executive committee member

was due to compete for the presidency this week. but he stood down just hours before his suspension on suspicion of bribing officials to vote in his favor. that just leaving one man standing for wednesday's election and that will still go ahead. >> there's no reason to postpone. the allegations and what has been said against blatter has been cleared. the other candidate withdraw before even the decision of the ethics committee came out. >> fifa will make the necessary changes in order now to avoid -- not to avoid to suspend people, but to make sure the institution has everything in place to stop this from happening again. >> his pitch for the job was based on what he said was his aim to bolster the sport's image through honesty, transparency and accountability. those commodities are in short

supply at the moment. as we've been reminded, really quite forcibly, not least by his own fall from grace. >> charles, this is going to get a lot worse before it gets better. the mud slinging has just startered. jack warner who's also been suspe suspended, he's been implicated. he's now also firing all kinds of accusations at blatter. he says blatter is the man who actually needs to be stopped. he has alleged he has an e-mail from the fifa secretary general saying he accuses hamam of wanting to buy fifa just like he bought the world cup. we are talking about serious allegations here going back and for forth. in the last few minutes fifa announced they'll be holding an emergency meeting of the executive committee and president blatter will hold a

press conference at 6:00 europe central time. we're in sus intense trying to figure out if the elections are still going to go ahead. >> in theory, they could be stopped. >> the member associations have to vote three quarters against having an election for it to be canceled. >> let's make a working assumption that the election will go ahead because three-quarters is quite some majority to muster at short notice. mr. blatter comes back in for another four year. he's been there for 13 years in which time fifa has become synonymous with corruption. one of the amazing things that he is the last man standing. yet people would say he is in the thick of it. >> charles, what's interesting to -- to analyze here is that fifa is a political organization more than it is a futball organization. this is my observation, but it's

also -- in an exclusive interview with cnn this past weekend he said exactly this. futbal needs to be given back to people who know more about the sport, not about politic. let's listen to what he had to say. >> fifa was like the ioc some years ago. i think we are at the end of the -- we are at tend of a system -- the future of this big sport, international company will be owned by people who a are -- not particular people. mr. blatter -- i think fifa has to come back to futbal. >> fascinating to see platini. criticism from right within the palace, as it were. i suppose the question is can

the governments be improved? is there the will pour power thn the part of blatter and on the part of other people including some of the stake holders like the corporate sponsors to clean up the stables? >> that's where the pressure has to come from in my view. if blatter stays, even if he wants to remodel and revamp some of the voting processes, statutes, rules that fifa has at the moment, there needs to be pressure from the stop tier sponsors of fifa's main events such as the world cup. a couple sponsors like coca-cola and visa were approached to see what their take was on the ongoing allegation of corruption. they said they're just focusing on the events and brazil, the next world cup in 2014, not on what's going on at the moment. i get a sense they'll wait, sit back, see what happens in the next week. this is a big week for the decisions in the present and

future futbal. if nothing seems to have been decided or cleared up or cleaned up we could see more corporate pressure on futbal's world governing body. >> one of the remarkable thing about the beautiful game is all of these things toedon't seem t cloud the horizon of the 2014 world cup. andrew? >> charles, a good point about the sponsors being very conspicuous by their quietness over the allegations. "sports illustrated" senior futbal writer tried to stand for the fifa presidency on an anti-corruption ticket. his memorable motto was, quote, cure the blatter infection. his response to the weekend developments. >> it's an interesting weekend. look at how great barcelona was on the field in the champions league final. you see how great this game can

be. at this point, all the world wants is for an organization running it in fifa to be a good organization. and so at this point we'll have to wait and see how that changes and if they're able to change their reputation over the next month with this investigation. if hamam and warner escape without serious punishment, the main takeaway will be this was all just one big political employ by seth blatter. >> grant wahl there. he's not the only individual speculating there may be more to those fifa suspensions than meets the eye. fifa's financing certainly are the source of much intrigue. it is a small organization. it had only 387 employees. as of 2010. but it boasts revenues totallying, would you believe, $4.2 billion. now, that number is revenues over the past four years. i sort of wonder then that stake

holders and sports fans alike are demanding for transparency. one area where there's some light, some light, is how much fifa pays itself. let's take a look at the staff salaries over here. you can see there, staff salaries not including benefits totalled more than $251 million over those same four years. about a quarter of a billion dollars. that may look insignificant here compared to the other bigger numbers, but it does mean fifa employees take home an average annual wage of almost $170,000 each. not bad earnings there. the biggest expense for fifa from 2007 to 2010 was the world cup in south africa. that set the association back by some $1.3 billion, as you can see. that's the main expenses going out there. but look how much money was brought in by tv rights. tv broadcast rights for the world cup alone just short of

$2.5 billion. that's the sort of sum you'd want to ensure was indeed in safe hands. now, one point to note, sponsors of the world cup bring in more than $1 billion for fifa. take a look at the marketing here. $1.072 billion, to be precise. they aren't directly being critical of the organization at this time as we've just heard from pedro. but the negativity which surrounds the ongoing debate is not good for fifa or good for futbal. charles, i suspect you could call that some understatement at the moment. >> definitely, andrew. let's move on to another thing which is very worrying. that's the nuclear crisis in japan. as i mentioned it's having a ripple effect in germany. coming up, more on a major announcement about germany's nuclear power industry. also ahead, the greek bailout is in the spotlight this week again. what's ahead for greece and for europe. all those stories when we come back. o nourish plus moisturize. active naturals wheat formulas

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welcome back from cnn london and cnn hong kong. you're watching "world business today." here are some of the other top business stories this hour. >> germany's become the first major industrial country with plans to permanently shut down its nuclear power industry. early on monday energy minister explained how his country will close all of its atomic plants within the next 11 years. >> translator: we've come to a decision in the matter of energy policy and the energy transition concerning the shutting down of atomic energy. the decision looks like this. the seven older nuclear power plants that are subject to the moratorium will not go back online. a second group of six nuclear reactors will go offline at the end of 2021 at the latest. and the three most modern, newest nuclear power plants will go offline in 2022 at the

latest. >> now, myanmar, one of the world's biggest defense contractors is itself on the defensive against cyber attack. lockheed martin says it's investigating a significant and tenacious attack on its system information network last week. the u.s.-based company says it discovered the threat quickly and fought it off. it says no information on its programs or its customers was compromised. lockheed martin is a supplier of major u.s. weapons stms including stealth fighter jets. speaking of fighting back, public reports say dominique strauss-kahn has assembled a team of high powered lawyers to help him battle sexual assault chargers. the former imf chief is said to have experts in the united states and france. strauss-kahn is under tight surveillance in a manhattan town house while he awaiting his next court appearance next week. he denies attacking a hotel maid in new york city on may 14th.

andrew? >> meanwhile, charles, french finance minister is starting a global tour in her bid to succeed strauss-kahn. her campaign to win support will take her to china, india, several african naxs and the middle east. lagarde hopes to overcome potential opposition. >> for whomever does get ahead of the imf, one of their big tasks will be dealing with the long debt crisis. greece very much at the center of that right now. "the financial times" reports european leaders are negotiating a deal for unprecedented outside intervention in greece's economy. that would include international involvement in tax collection and the privatization of state assets in exchange for new bailout loans. we expect the eu and the imf to respond this week to greece's

efforts to control its deficit. meanwhile, greek's supposed strict us asterty are getting angrier. for more on the purely economic angle, gupta of ing investment management, what will the ripple effect be if greece defaults? >> the fear for the eu is that the greek default will stem a rise of contagion across all of the other countries. that's the primary reason eu leaders are preventing another complete default scenario. the only way out of this is one of two things. either they keep financing greece and the other countries for a long period of time which is politically very difficult or they take concrete steps where they force greece to take the bitter pill to reform their economy. >> meanwhile, let's not forget ireland transport minister said his country may have to ask for

another loan from the eu and imf. he said ireland is unlikely to be able to fund itself in the government bond markets next year. still ahead on "world business today," petrol price controls and peaked environmentalists. india's booming demand for diesel is just ahead. while i've been sneezing from the dust in here, and the pollen outside. but with 24-hour zyrtec®, i get prescription strength relief from my allergy symptoms. it's the brand allergists recommend most. ♪ lilly and i are back on the road again, where we belong. with zyrtec® i can love the air®. [ male announcer ] get up to $6 in savings on zyrtec® products at zyrtectv.com.

let's check on crude oil prices. prices are inching up despite a report that the u.s. demand is

weakening. they were inching up. now down again. offset by falling supply and wor ris over unrest in libya and bahrain. off by about half a dollar. welcome back to "world business today." >> as crude prices rise so do, of course, the price of petrol. that's certainly the case of india with one exception. price controls there are keeping the cost of diesel fuel low. in new deli diesel is 40% cheaper than gasoline. consumers in india's booming auto markets are flocking to the cheaper fuel. >> reporter: india is motorizing rapidly. last year more than 2.5 million cars were sold here. a 20% increase in sales compared to the year before. businessman depak is adding to the fleet. he's among an increasing number of customers buying diesel powered cars because gasoline prices are shooting up.

>> gasoline prices are going up. it's almost double than the diesel prices. >> reporter: the difference is largely because of price controls on diesel. the fuel is widely used in freight transport, agriculture and power generation. industry leaders accept fuel pricing is playing a role. >> i believe the ratio has increased in the last one year at least by 10%. the gap between diesel and petrol is high. i don't think customers should look at only this gap. this gap might narrow down tomorrow. this gap is driving customer to buy diesel driven vehicles. >> reporter: environmentalists fear health risks will rise. >> change in dieselization of cars is really scary. in absolute numbers the diesel car numbers are still lower than gasoline numbers. but what is scary is the rate of growth of the diesel cars.

when you compare the emissions, that comes from the diesel car and the toxicity of that emission is seven times higher than petrol gas. >> reporter: environmentalists contend the automobile technology to control emissions isn't as advanced as it should be. but car makers like the indian unit of toyota delivering both gasoline and diesel automobiles disagree. >> as for the technology concerned, we are using one technology in india. we are apart with europe. the diesel engines here is much better than gasoline. europe is highly concerned as environment. so are we today. diesel technology is quite advanced. and much cleaner technology. >> reporter: auto sales in india are expected to double by the end of this decade. last year the government decided to end price controls on petrol. it said it will do the same with diesel but the move might be gradual to minimize the impact

on consumers. the cost of fuel a big driver for buyers. cnn, hong kong. where's all the water gone? a dire drought in china with 35 million people affected. we'll bring you the details, next.

from the cnn london, i'm charles hobson. >> from cnn hong king, i'm andrew stevens. welcome back. you're watching "world business today." >> let's see what's going on in

europe with the markets 90 minutes into the trading day. the answer is not much mainly because the uk and u.s. markets are closed today for public holidays. so paris and zurich flat line at the moment. gains there by the xetra dex. energy stocks are weighing on that market following the news that the government in germany has decided that all nuclear plants in that country are to close by 2022. andrew? >> yeah. here in asia, charles, hong kong the only major market to end on a positive note. it followed those gains on wall street on friday, despite the fact there were some not particularly strong economic numbers coming out of the u.s. japanese investors today -- the nikkei down by about a fifth of 1%. the big story really, though, remaining shanghai. that's eight days in a row now

the shanghai composite has fallen. not much. still the trend is firmly down. fears about the state of inflation plus the state of economic growth in china certainly vexing investors. charles? let's turn our attention to the big one. that's wall street where the economy and the labor market are front and center this week. even if those markets are closed for today. alison kosik with a preview. >> monday is a holiday in the u.s. so the stock and bond markets will be closed. but the first week of the month always brings the most important economic reading. i'm alison kosik at the new york stock exchange. investors will be focussed on the may jobs report due out friday. last month unemployment rate edged back up to 9% ending a streak of four straight months of declines. but the labor market has been recovering with more than 200,000 jobs being added in february, march and april. however, the consensus is that job growth could fall short of that 200,000 level in may.

the weekly number of new jobless claims is likely to remain high, due to layoffs by the widespread flooding and tornadoes plaguing the u.s. also reports on auto sales and consumer confidence. some reports say tech giant microsoft may unveil its newest operating system, windows 8, this week at the all things d conference in california. speakers include the ceos of google, twitter, disney and hewlett-packard. finally the republican dominated house votes on whether or not to expand the federal government's debt limit. and this vote will be a good indicator at how far apart the sides are on this highly charged issue. that's a look ahead at the week in u.s. business news. i'm alison kosik at the new york stock exchange. outside of the u.s., there's plenty of other data to keep investors busy this week. particularly if we look at one of the fastest growing economies in the world.

on tuesday we get the indian gdp, gross domestic product. economists expecting it to have grown by about 8.1% in the first three months of the year down from 8.2% in the previous quarter. you remember there has been a lot of inflation concerns in india. seeing a cooling economy at the moment is not necessarily a bad thing. on wednesday we've got numbers coming out of australia. severe weather in australia as well as -- are expected to cut more than one percentage point off economic growth in australia for the period. that's been playing out in the financial system in the markets. finally on sunday, we get the general election in portugal. the prime minister socialest party has a tough fight on its hands. despite from struggling with record unemployment the country has been forced to go cap in

hand to the eu and imf for a multibillion dollar bailout despite three big austerity packages. certainly, charles, usausteritys going to be front and center in that campaign. people in spain getting more and more angry about the sacrifices they have to make getting their country back on track. he's likely to face a tough time. >> indeed. the situation for a lot of governments in the southern yeuo zone members getting tough indeed. china, the worst drought in years. rain desperately needed. the outlook from the international weather center, how bad has it actually been there, ivan? >> it's been horrific. in fact, for some of the farmers there that make their livelihood out of the farms there, the water has not been irrigating their crops. in fact, what has been irrigating their crops has been the three gorges dam releasing

water. as far as the rainfall we should and are supposed to get into a wetter pattern here as we get into june. but i don't see anything significant as far as rainfall over the next several days. the last one that hit really japan is where it left the water but bypassing china. let's fly you in and check in on the yellow river. it's the yangtze what we've been seeing problems with. the population dense as we take you into shanghai. we're talking now about over 6 million hectares of farmland that have been impacted as a result of the drought. some provinces, about five of them, it is severe. take a look at some of the scenes that have been ongoing there. they have been sending folks out, in fact, about 9,600 have been sent out to essentially pump the water that they can into the farmland there. and the three gorges dam has been releasing water. that has created a deficit on the other side. but it has raised the water levels downstream. do we have the video?

the pictures? yes? there we go. let's take a look at some of the scenes there. in the worst drought in 60 years, no question about it. downstream about three meters, that's how much we've been able to raise the water as a result of the dam releasing more water there. but five provinces all seeing significant drought situation there. those are the provinces that are in a lot of trouble here. there's the three gorges dam. what a contrast here as far as the situation in the united states with the mississippi, too much water getting through. not enough at this point here. they are likely going to have to, charles, continue to release water in the three gorges dam area there over the next several weeks just to help out the farmers there that need water desperately. it's not falling. >> okay. it's getting bad here in europe. nothing like as bad as it is in china. ivan cabrera, thank you so much

for briefing us on that. we're going to go back to markets. we've shown you the numbers coming out of asia this day. that eighth consecutive fall for shanghai, japanese markets also having a pretty tough time of it as well as the strong yen continues to hit the country's export. bigger macro stories coming out of the u.s. and also the euro debt crisis. to preview what we can expect from this week is kerry evans, global head of equity strategy at hsbc. good to see you again. >> hello. >> where do we start? what do you think specifically is going to be on investors' minds and pushing markets this week? >> we're going to get quite a lot of data coming out on the u.s. economy. the last few weeks it's becoming a bit clearer that growth is starting to slow. probably only a mid-cycle correction. markets are getting a bit nervous about that. we have the u.s. manufacturing ism. sounds a bit technical but probably the best indicator of the u.s. cycle. that comes out on wednesday. the nonfarm payrolls, best unemployment numbers come out on friday. those should give us a pretty

good steer. >> what's happening in the factories. >> exactly. >> you describe this as a mid-term cyclical correction or a blip for the u.s. economy. nothing more serious? >> i think that's the most likely outcome. we're two years into recovery. we've had inventories built up. companies are manufacturing lots of things. they're not selling quite as much as they were. the amount left in the warehouse is starting to go up. 10% year on year. >> you're not worried about a longer term slowdown here? china obviously is showing signs of showing as well. europe is in trouble. so the engine, the two big engines are stalling at the moment. yet the u.s. -- you think the u.s. consumer will tern things around for the u.s. economy sooner rather than later? >> let's take those two things. china, a bit of a slowdown is a good thing for china. it's been growing too fast. it's got an inflation problem because of that. slowdown for china means 8% to 9% gdp growth. hardly a disaster.

if we look at europe, yes, there are lots of worries about sovereign debt, greece. growth in the core european economies, germany and france looks pretty good. our economies just revised up their forecast for this year for euros, 1% to 2%. >> when you look at where global stock markets are at the moment, what are they factoring in as far as the global growth stories? glass half empty or glass half full at the moment? >> they're a little halfway between if you'd like. they have started to correct a bit. global markets are down about 5% over the last few weeks. valuations are pretty cheap by historical standards. >> what would you say? time to buy? >> i think probably sell in may, go away. >> which we've seen. >> which we've seen. probably come back in october. i think there's a few head winds that are going to blow for the next few months. but i think fundamentally equities look fine. i would like for a buy opportunity perhaps late summer. >> what would trigger to you

that buy opportunity around october? >> i think it's when we've seen the growth really slow. people start to get nervous about that. say it's a double dip, near recession. everyone gets very bearish. that's the time to buy. >> thanks for coming in. garry evans, chief equity strategist with hsbc. >> that always takes a bit of courage. let's head off to the middle east next. compared to upheavals in places like libya, egypt's revolution was a tidy affair. the economy is in ruins. we'll take a closer look at that, just ahead. on the seventh bunk bed and you developed vertigo, and that's why you couldn't become a pilot and you had to study engineering. you patented 367 inventions, but only 3 made it to market. that's why you don't have an apartment on the 16th floor and you have it on the fifth, but that's where you met carmen. with her, you had 3 children. the fourth ended up being a dog. numbers change your life. that's why you should take control of your credit score

by paying your bills on time. for more tips, visit numberschangeyourlife.org. ♪ sing polly wolly doodle all the day ♪ ♪ hah

welcome back. the arab spring is giving way to the arab summer as pro-democracy up ricings continue. what happens after revolution? you'll remember these images of egypt. three months since protester

forced president hosni mubarak from office. despite the political shift, the country's economic situation has worsen. egypt's economy is virtually at a standstill with the imf forecasting growth of just 1% this year. tourists aren't coming into the country and neither are investment dollars. the french daily estimates that the economy is operating at only about 50% of capacity and egypt is losing some $40 million a day, andrew. >> charles, just last week g-8 leaders suggested development banks provide $20 billion to support reform in egypt and tunisia. will that help most egyptians? a look at whether for some people the cost of revolution outweighs the gains. >> reporter: customers have been few and far between the fruit star. he believes people are reluctant to spend their cash because they don't know what's coming. i asked if things were better for him when hosni mubarak was

in power. then there were no robberies or chaos, he says. the revolution has caused a lot of trouble with theft. sayed hadn't heard about the tunisian fruit seller who set himself on fire in protest. the incident that ignited a wave of protests across the middle east. but he listens intently when i tell him the story. we have a man who sells fish right behind us, he says. he killed himself 20 days ago because he couldn't afford life's daily expenses. it happens. so this is the shop? we all followed to the fish seller's shop. locked and derelict. the man in the business upstairs remember their neighbor well. an entrepreneur who started importing clothes from turkey until high taxes, they say, forced him to shut that business. >> the government doesn't help

you. once the government see you have a good business, where is our taxes? >> reporter: he says revolution and regime change made no difference. even though the government was changing the -- >> yes. because this changes doesn't have change this time. but a long time, maybe my children. >> reporter: right. in the meantime, how to survive? >> no, no, no. at this time like all time. >> reporter: there are a lot of different theories about why things are so tough economically right now. the finance ministry will put it down to a soaring public deficit to the loss in exports and to the fall in tourism all because of the increased security concerns in egypt right now. but there are the people who say that the deficit was just as high under mubarak and put today's problems down to the

unfair taxation system, wage disperties and the construction of the past regime. this government knows it's under pressure to turn things around and fast. sayed says all he knows for sure is that his debts are bigger than they've ever been. he fears if he doesn't pay by the end of the month, he'll be arrested. cnn, cairo. let's turn to something on the other end of the scale. for decades, they've been iconic luxury sports cars. just ahead, we'll be talking to the head of ferrari about the mechanical mastery behind the machine. stay with us.

welcome back live from cnn long congress in london. you're watching "world business today." >> since its first road car rolled off the production line 65 years ago, ferrari has become a mainstay of the luxury sports car industry. what makes ferrari cars so unique? >> reporter: he's a very busy man. the 62-year-old has been ferrari's chairman since 1991 and he has one of the most p

prestigious jobs in italy. ever since the former racing driver ferrari started building his own cars, the scarlet machines with the black prancing horse have inspired love and inspiration. the merchandising of the brand is sold all around the world. even has its own theme park. and its from the company's factory based in marinilo where these ideas and dreams continue to be made a reality. but what is the key element that makes a ferrari a ferrari? >> ferrari has to be like a good-looking girl. for me, the beauty, the design, the traditional and innovative mix of internal design are absolutely crucial together with extreme technologies. >> reporter: design is important. but the ferrari legend is one that has been built up over

decades of mechanic mastery. so perhaps the magic ingredient is its history. >> the history, the past is something we have to keep, we have to remember. we have nice historic ferraris here. and we are -- we have a lot of collectors around the world. and this is something very special for ferrari. >> reporter: i imagine this would be a hard company to leave. do you have staff here that stay for a whole lifetime? >> yes. we have many people from where they left the school until they retire. >> reporter: when you train your staff, how do you train them to be a ferrari employee? can you teach that? >> yes. we're doing this. we're telling them the story of the company. telling them about my father.

>> reporter: ferrari's formidable reputation has always been built on racing. primarily in formula one where they're the only team to have competed in every season during the history of the sport. no other team can match their pedigree. clearly, the history, the design and the racing pedigree are important. but the one thing everybody here tells me is that it's the fun that makes a ferrari a ferrari. let's see. hang on.

my heart is absolutely pounding. all right. so perhaps ferrari test driver helped me with some of those track shots. but the point is made. >> you know, when you drive a ferrari, you don't drive a car. you drive a dream. >> sure enough. not a lot happening with uk and u.s. markets closed. paris up a little bit. zurich the upward kind of flat lined. xetra dax up by nearly half a percent. that's it for this edition of "world business today." >> charles and i will be back a little later this day with the second edition of "world business today." make sure you join us for that.

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