jackson. i promise you that. michael is a gift from god. >> it's been fascinating. the book is a riveting read. thank you for sharing it with me. and it's a pleasure to meet you finally. >> thank you. thanks for having me. vrnlths i'm zain verjee at cnn in london. u.s. president barack obama has promised american troops will begin leaving afghanistan next month. later today he's expected to announce just how many will leave and when. sources say some 30,000 troops will be sent home by the end of 2012. greek prime minister george pop drew survived budget needed to prevent a default.

greece risks being abandoned by europe if it fails to get its finances in order. police clash with huneds of riote authorities say molotov dock tals were thrown as a large crowd gathered on the street separating catholic and protestant neighborhoods. in syria clashes erupted between the anti-regime protesters. there were reports that two people were killed and several others wounded. cnn cannot independent confirm that. those are the headlines, i'm zain verjee in london. "world business today" starts now. good morning from cnn london. i'm charles hodson. good afternoon from cnn hong

kong. the top stories this wednesday, june 22nd. >> george pap pan droe wins a no confidence vote. now the real wourk begins, convincing lawmakers to pass a stuff austerity plan. >> as qe 2 draws to a close, we ask can the world's biggest economy survive without it. and ryan air creates a stir, teaming up with chinese comac to help develop a jet. a quick look at the markets. after the great prime minister survives that vote of no confidence. stocks up on a second day. the relief rally continues that the greek debt crisis could be contained. in sydney the s&p was up by have a percent. metal prices rose on thursday. little movement in hong kong or

shanghai. the biggest winner, the nikkei up nearly 2%. that was in no small part thanks to the performance as the yen. as it weakened exporters gained, sony up by 3.7%, toshiba nearly 3% higher, hitch tach chi 3% higher. a strong rally for the electronics stocks in tend. notoriously volatile at the moment. charles? >> a look at what's going on in europe, just over an hour into the day's trading. in paris, the kak closed up more than 2% on tuesday. different story today, i think it's probably a fairly classic case of buy the rumor, sell the fact. clearly a perception in the markets that that confidence vote -- i said a no confidence vote, it was actually a confidence vote, of course, in the new greek cabinet would pass. so they bought on tuesday, selling a little bit, taking a

bit of profits here on wednesday. all of these markets edging back. zurich smi off by about half a percent. in terms of the greek exchange, that opens in 30 minutes. we'll take you there and show you the athens general numbers as soon as trading starts. a look at the currency markets, just really relatively flat. very scant gains for the euro against the dollar after the agreement prime minister won that confidence vote. the pound pretty much flat and the yen also up about .10%. we do say this every day, that is i suspect a level that japanese exporters are uncomfortable with. >> it's interesting. saw the exporters up today, charles. the yen anywhere around 80 is still way too strong in most people's opinion in japan. let's get back to our top story. investigators breathing a sigh of relief after the greek prime minister survived that

confidence vote in parliament on tuesday. but the battle to stave off a possible sovereign debt default is not over yet. mr. papandreou has to get parliament to approve a 78 billion euro, about $112 billion worth of tough austerity measures next week. that's not going to go down well with much of the greek public. >> police used teargas in athens on tuesday night as some of the thousands of protesters outside parliament attempted to storm the billing. organizers of the week's long demonstration against the austerity measures are promising bigger rallies before next week's vote. an economist at credit suisse says passing those measures is only half the battle. >> you have a whole series of things that need to be achieved,

first of all, the political dimension. the confidence vote, will the austerity vote be passed? them you've got, will it be implemented? the package last year for greece, obviously there have been some failures actually on the implementation of that package in may 2010. then there's the very vext issue of how the debt will be restructured. greece is incapable of repaying 330 billion euros. >> the political situation may be stabilizing, but the economic picture still looks bleak. the head of the company that manages the world's largest bond fund thinks the best way out of greece's problems would be default. that's the starting recommendation of pimco ceo mohammed l. arian. he says europe risks wasting more money on europe. charles, quite a few people are saying that, that maybe default

is the best answer there. >> there are a whole bunch of different options there. default may be one, some kind of restructuring, whether it would be a forced restructuring, contrary to what the european central bank wants or not, these are all open questions. we'll get back to them on "world business today." let's ask specifically about where we're going to end up with greece now? are we going to end up with a default? is this package likely to go through that you and i were talking about. let's get on the line to journalist john sur rop loss in athens. he joins me now. john, clearly the vote of confidence was something papandreou could expect to pass and he did pass. no fraying at the edges. next week's vote on this huge package of austerity measures is likely to be a different matter, isn't it? >> it is. because the government has no leeway to negotiate. it's been handed down by greece's creditors, the eu, the

european central bank and the imf. they have to accept it wholesale and pass it. it's very difficult because it contains 4 billion euro's worth of public sector spending cuts alone and three more unpopularly, $3 billion euro's worth of revenue raising through new taxes. people say it's time for the government to start reforming the economy so we can begin to see new growth as we see public spending being cut so that the economy isn't shrinking by 4.5% for a fourth year in a row next year. we're already in the third year of recession now. >> john, let's have a look at that vote. do you think it will reflect a sense on the part of the greek people that they really have had enough of this, that defaulting would almost be better than having to put through this austerity package?

are parl aarons likely to take that issue. >> if greece chooses to default, the banks immediately collapse because half of the debt is owned by them, even though they're divesting themselves of it by selling off to the european central bank, still it would force them to collapse. it would force many german banks to collapse because they are more exposed than they would like to be to greek debt. finally, enormous recapitalization pressures on european governments to bolster the european central bank which has 45 billion euros worth of greek debt. it would trigger a new bank bailout, round of bank bailouts. it's not an attractive option. there's also the question of a gentler sort of default in the form of reprofiling of bonds by extending their maturity and

opening their interest coupons. that is seen by the ecb and ratings agencies as unattractive because it will be seen as a credit' haven't. don't forget the pressure from the credit default swaps market which says we've invested in betting against greece. if greece is let off the hook and allowed to default, we're going to lose our money. we've taken very wise positions because we never thought greece would make it. there are all sorts of arguments against default at the moment. >> okay, john, many thanks. the vote of confidence in prime minister george papandreou is just the first step on a continuing marathon journey to rebuild the greek economy and its finances. by the end of the month, he and his new finance minister need to pass another round of austerity cuts. >> the prime minister offered him a poison challis because if he succeeds, the prime minister will get the credit. if he fails, then he's finished

politically. by there is nothing in his track record to suggests that he can deliver large budget cuts and confront the public sector unions. >> let's look at the job cuts in the public sector which employs one in four workers. 150,000 jobs will go. for every ten retirees from public sector jobs, only one worker can be hired. so ten for one. state workers will see wage cuts of 20%. it's noted that 250,000 private sector jobs have already been lost and that unemployment is near a record 16%. it's even higher am plong greece's restless youth. at the same time, the government needs to raise rev flews, so vat which has risen to 23% will be extended to include restaura restaurantirestaurants and cafes. a 3% income tax on government

workers, emergency taxes on properties, yachts and even swimming pools. >> the government's priority should be spending cuts and they plan to achieve that through redundancies in the public sector. >> finally the government wants to privatize $70 billion worth of state-run businesses by 2015. that's a tough target and many greeks are strongly against that. they know selling those state-run companies will likely mean foreign ownership and more job cuts. andrew, it's going to be compared to what even a former conservative prime minister called selling off the family's silver when 20 or 30 years ago prime minister margaret thatcher was engaging in a round of privatization here in the uk. >> when you look at that list, charles, what the greek government has to do, it's an extraordinary tough call to make, given the fact that, as john was saying, the economy is already in recession.

and then to add that on top of a recession, tough times ahead indeed. if you look at the reaction in the markets, a little confidence that grooets may, in fact, pull it off. it's not just europe and the u.s. it's also wall street as well. they are anticipating a favorable outcome. at least they were during trading yesterday. the dow finishing with triple digit gains. a smaller-than-expected drop in sales of existing homes helping to fuel the rally. that's how the three key markets ended, the dow up by 1%, the nasdaq getting a bit of a rally, up by 2%. look at the broader s&p 500, up by 1.3%. so what will happen today? markets look set for a lower open, a bit of profit-taking perhaps when trading begins a few hours from now. this is where the futures currently stand. as you see there, very, very little move from yesterday's close. the arrows are still pointing in the wrong direction.

charles? >> qantas is predicting high altitude profits except on the international routes, how natural disasters are creating a new head wind for australia's biggest airline. i'm good about washing my face. but sometimes i wonder... what's left behind? [ female announcer ] new purifying facial cleanser

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the risk is real. take the next step. call today. papandreou. you're watching "world business today," live on cnn. >> europe's biggest budget airline ryan air is often in the headlines and not always for the best of reasons. now it's getting more positive publicity as it makes a foray into china. it announced a collaboration with the chinese plane maker comac. ryan will work with comac to develop the c-919 jet. that jet will carry up to 20 passengers and is being developed by china as a direct competitor as the boeing 737 and a bus aircraft. if all goes to plan, they'll

undergo first test flights in 2014 and be in service two years later. we heard from ryan air's bullish ceo michael o'leary. >> we really want to encourage them to develop -- the 919 is 174 aircraft. we've had a number of meetings with the chinese, very keen to understand what the needs are for low fair airlines in the west and we're going to work closely with them over the next 12, 18 months to help design a 188, 189-seater aircraft that will knock the socks offer boeing and airbus. >> speaking with the aviation industry, it took them a while. investigators did eventually find the black box flight record is from air france 447 which crashed into the atlantic two years ago. cnn's jim bolden spoke to the company that makes most of the black boxes, honeywell, about the lessons learned.

>> we're very pleased at honeywell that the boxes have been found and lasted almost two years down at about 12,800 feet, well beyond the design life we had established them for. we're extremely pleased because 100% of the data has been recovered for the french authorities to do their analysis on what occurred. what we believe is the design engineers and what they were able to accomplish from a robustness, we're very pleased with and will help us in future investigations as well. >> assuming that the pings didn't last for two years. obviously that was the thing that would be about 28 days or 30 days, but they were found anyway. is there something that can be done that maybe now thinking about some kind of connection with the boxes for a longer period of time? >> yes. the battery in the pinging is designed around 28 days. at the depth and level there's not a lot we can do because of the atmospheric pressure and the communication links to get to

those. so we're really looking at, can we extend the life from a battery perspective? what it really helps us with is how long under submerged pressure they're able to maintain integrity so you don't have corrosion and sea water entering into those. some of the greatest learning is around the life and time that we'd be able to search form those. >> having the black boxes under water that deep for two years is not really something you can test for, is it? >> absolutely. we do lab testing and accelerated life testing but haven't gone to the extent those boxes survived. it becomes a flu benchmark around our design criteria to ensure if unfortunate events happen like this again that we have the products that the airline and the industry would prefer. >> a whole lot of other technology other companies are look at, to make it safer, the landing and taking off. some of it is available now. how much of that will become mandatory by governments and authorities. how much will be decisions made by the airports and airlines

themselves. >> what we see in many safety technologies like the smart landing products, it helps with airlines as they're lining up into coming for a landing, ensure they have stable approaches, so not too fast, not too high, really looking at a safe environment for the passengers. and what we're seeing is, as you get an adoption of the technology, so the airlines will pay for them first in a one or two-year payback basis from a safety priority of how they value stuff for the customers, as it gets to 10% or 20% adoption rate and the safety has been demonstrated, many regulatory agencies will adopt it from a mandatory basis. >> a lot of people are surprised that airline technology is kind of antiquated. it's not about gps, but still radar. >> it's amazing that much of air traffic systems in europe and the u.s. are still radar ground based.

actually what the pilots in the sky see, airbus and boeing have been helping equip planes in advance of actually many of the countries utilizing satellite-based solutions. it's not a matter of retrofitting aircraft. it's utilizing systems in the plane today to create more efficiency and lower emissions for many of the airlines. >> does this mean higher costs for passengers? >> we have not seen that. >> you're watching "world business today." still ahead, u.s. government support for the economy ends next week. as qe 2 fades away, will it take the strength of the stock market with it? hear me? just hold the bag. we need a portable x-ray, please! [ nurse ] i'm a nurse. i believe in the power of science and medicine. but i'm also human.

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welcome back. this is "world business today." the skies are getting busy over australia not before a second round of ash cloud disruptions earlier this week grounded thousands of flights. qantas say it is cloud from a chilean volcano cost it $22 million through monday. for the year the airline expects natural disasters to set it back by some $219 million. qantas says it's getting $100 million as compensation for a man-made disaster. we have details of all that. james, are flights now all back

to normal? >> obviously very much the patience of travelers have been tested over the past couple weeks in terms of flights on the mainland of australia they have resumed. there was very much a backlog at major airports at the moment including sydney, adelaide and melbourne. qantas, virgin, australia and jetstar working overtime. they brought in more planes, bringing on more stuff to try to work through the backlog. they are expecting to i suppose get that dissipated by the end of the week. the bad news, though, is for those people looking to travel to and from tasmania or new zealand. those flights still canceled at this stage. that second chilean ash cloud you mentioned is starting to thin out, dissipate. but it is moving over the as the man, hence the issues with tasmania and new zealand. jetstar says they will look to put flights back to and from as

mania by 10:00 tomorrow, new zealand, they'll re-evaluate by midday tomorrow. in terms of the passengers, i suppose when it comes to safety, that is the number one concern. this time around they seem a little more prepared for the waiting around. still big, big queues. we did see a lot of passenger terminals a bit deserted. checking regularly the updates on the airlines, not quite the level of frustration and anger. still many people looking forward to finally getting on a plane. >> i'm sure they are. james, just talk to us, too, about this compensation payment that qantas is talking about. >> obviously a rather big point when it happened, november 4th when there was that mid air engine failure, one of the rolls royce engines on the qantas flight. there have been on going negotiations between rolls roigs and qantas. they announced today through a

statement they have agreed on a price of $98, or at least in terms of their profit and loss statement there will be a $98 million increase to profit on the back of that. in terms of the specific details, they have remained confidential. it was part of a wider profit update that qantas announced today. beforehand, earlier in the morning, qantas had been going into a trading hold saying they would be announcing market sensitive information. the market went rampant with speculation that we would get a downgrade because of the ash cloud. as you mentioned, they will be looking at a full year of some $500 to $550 million. that's despite loss of international routes. they have announced a large review, the announcement that the plans of which will be unveiled on august 24th. >> all right james dag gar nick son, sky news in sydney joining

us. you're watching "world business today." ben bernanke is expected to signal an official end to qe2 later today. can the u.s. economy cope without it? that divisive debate when we come back.

from cnn london, i'm charles hodson. >> i'm andrew stevens at cnn hong kong. welcome back. you're watching "world business today." let's have a quick look at the european stock markets. we're now 93 minutes nearly into

the trading day. we have been seeing in terms of the big three markets a little bit of selling, certainly close to the flat line after decent gains on tuesday, still losing about .5% for the zurich smi for slightly separate reasons. we did have that strong run-up. so a look at the athens general now. that's just opened about three minutes ago. the reading we're getting there is it's a good buy signal if you like there, up by about -- getting on for 2/3%, between half and 2/3 percent of athens stock following the confidence vote won by the prime minister george papandreou. what about over in asia, andrew? >> that confidence vote is certainly helping to calm some nerves in asia, although there was also local issues affecting the markets. certainly as you see, helping

the nikkei up 1.79%. the s&p up by half of 1%. metal prices rising on tuesday. and that helps. coming back to the nikkei for a moment, there was a lot of support for the exporters, the yen a little weaker against the dollar. that's pretty strong, 1.8%. remember the nikkei has been under the hammer for some time now, charles. >> indeed. u.s. markets for their part look set for a lower open when trading begins later on wednesday. here is where the u.s. futures stand in the pre market action, reaching the point where these are really quite significant in terms of what's going on. i think, ken, it's ep kating the european pattern if you like or perhaps the european pattern is replicating what we're seeing on the u.s. market. the u.s. futures off slightly after decent gains on tuesday, andrew. >> charles, it's widely expected

that the federal reserve will signal an official end to qe2, its quauntive easing stimulus program when ben bernanke speaks later today. america's second round of quantitative easing. will there be a qe 3. maggie lake has been speaking to mohammed el-erian of pip co-the biggest bond holder in the world and also to laura tyson from university of california who chaired bill clinton's council of economic advisors. >> what is going to happen to the economy when the fed withdraws this extraordinary stimulus they've put in place? >> well, i think that the fed has made it perfectly clear that it's going to do it. it's made it perfectly clear when it was going to do it. i think the market has absorbed that information. the fed has also made it perfectly clear they're going to continue with their low interest

rate policy for the foreseeable future. they've made all of their reasoning apparent. so i actually think it's not a source of uncertainty in the markets. there's a lot of uncertainty out there. there's the greek debt uncertainty. there's oil prices. >> people -- i think there's concern that the economy has been on life support and it's not strong enough once you take away that. do you think it can stand on its own without that support? >> i think the view has been clearly articulated that for now at least, given what we know about the economy, the economy has slowed down a bit. the reading right now is that the slowing down has been for a variety of transitory factors and that for now this seems to be, as i said, well absorbed into the marketplace. it is not to say all support for the economy is going to be withdrawn because the fed has made clear that the continuation of the interest rate part of their unconventional policy, will continue. the fed has made that signal

very clear. >> mohammed, what is your perspective? it is telegraphed. we know it's coming. but is the transition going to be that smooth? >> i'm a little more cautious and i live in the marketplace. it's not because it's not telegraphed. everybody knows qe2 will end at the end of this month. the reason why there's uncertainty is there's fundamental disagreement on the analytics of qe2, how qe2 operates. some people feel it operates through a stock effect. some people think it operates through a flow effect. the fundamental issue is we don't know, plus there's no historical precedent. so while the market knows that qe2 is going to end, the market is less clear as to what the consequences of that. in fact, you have people taking very extreme positions because they disagree on the analysis, not on the fact it's going to end, but how do you analyze it. >> pimco is one of those entities taking an extreme position, and a lot of people have taken the other side.

you think this is going to be difficult, it's going to be bad for u.s. treasuries. are you still sticking by that? what is your forecast? what happens once qe2 ends to interest rates? >> maggie, we look at it very simply. we are involved in the different treasury options. we look around to who else is buying. and when a big buyer -- and the fed has been buying about three-quarters of what the treasury has been issued. when a big buyer steps away, any investor has to ask the question who else is going to be buying? we can't find another big buyer to step in when the fed steps back. we can't find a new buyer. but other things being equal, that means higher interest rates unfortunately. >> i take the point that you have to worry about where the demand for the treasuries will come. but on the other hand there are a lot of other things going on in the global economy right now

which may, by comparison to other opportunities, u.s. treasuries, ten-year treasuries an attractive place to park your money. >> this is what i believe you were referring to, mohammed. can you be right about quantitative easing but it doesn't matter because everything else in the world is so uncertain. does that just buy us time or is that a longer-term development? >> we've seen two things happen over the last few weeks that pushed interest rates down despite the end of qe2 that's coming up. first there's been an enormous downward revision in estimates for this quarter's gdp growth. i've never seen anything like it. people were expecting 4%. now people are expecting 2%. that is a massive change for a current quarter. secondly, we have a big mess in europe that's making people more cautious. the question is, as one of my colleagues often said, can you go to heaven twice for the same deed? how much can you push interest rates lower and lower when

evaluations look out of whack. we'll find out over the next few weeks. straight ahead, a tasty episode of "the boss" whether it's cakes or cocktails. the bosses of these businesses know when to take a clans on something new. [ female announcer ] imagine skin so healthy, it never gets dry again. can your moisturizer do that? [ female announcer ] dermatologist recommended aveeno has an oat formula, now proven to build a moisture reserve, so skin can replenish itself. that's healthy skin for life. only from aveeno.

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gold is up for a seventh straight day as the price now, $1.22 rise per ounce. it's now at $1546. welcome back. you're watching "world business today." in this week's episode of "the boss," risk is the main ingredient as michael wu's experimental chocolate cake hits the shelves, not before steve hin difficult releases a lager with a pop. it's rising on strategies, tactics and taste.

previously on "the boss," a summer selling spree. steve hindy unveils seasonal tactics. >> getting that beer to the customer and creating a demand for that beer is the real tough part of the business. >> in hong kong, michael wu plays up the celebrity factor. >> she cares about the community. she cares about hong kong. so we think that time of image resonates with the brand. >> michael knows, no amount of marketing will help if the product is not right. >> back in december he tasted, tested and named the verona chocolate cake. >> i think it's good. i like it. i think it will be a very good

top seller. >> now, six months later, the cake has hit the shelves, and michael is key to know how it's being received. >> at first i thought maybe people would think it was too sweet, maybe it didn't have fruits, they didn't know what it was. but the response was very good. so we decided to launch our mini cake just in time for father's day. so far it's doing very well. it's amongst our top mini cake sellers. >> knowing your customer is one thing, but michael must also have confidence in his convictions. >> usually our cakes in our maxim's cake shops are with fruits and they're with cream which suits the chinese taste. we very seldom launch a pure chocolate cake. so this is something new to our customers. >> to get the results, you have

to take the risk. but michael has confidence in his experience. >> this is a strategy we like to use. 20 years ago when i first launch tear rah mees sue, people were saying it wouldn't work in maxim's cake shops. after ten years, it's become our best cake seller. >> new cakes in hong kong, new beers in brooklyn. people are queueing up outside the brooklyn brewery to try the newest product, a beer with a taste of a cocktail. >> thank you so much. have a good time. >> i'm not worried about what people will think. i don't read the blogs. i know our brewers do and sometimes they get upset about things they read. but to me, it's all good because people are going to have a good time tonight. they're going to try something like they've never tried before, and i think they're going to go away and talk about it.

>> finding the right name for this beer was no easy task. the original idea was "the tonic" until the u.s. government said that sounded too much like a medicine. so it was back to the drawing board. >> the name actually that i came up with, the brooklyn concoction was approved. so we're changing all our posters and all our marketing materials to say brooklyn tonic is now the brooklyn concoction thanks to uncle sam. >> luckily for steve, the taste is making a better first impression at the launch. >> really nice for the summer, clean, crisp. >> not very hoppy. >> steve knows niche products like this aren't for everyone and they need careful marketing. the brooklyn concoction will only be produced in small batches.

>> we use honey from upstate new york. >> brew master garrett oliver explains why in this case less is more. >> these are deems we dream up every once in a while and will stick around for several weeks and they're gone and we move on to other things, kind of like the chef's specials at a restaurant. >> steve has given his creative team free reign to experiment. he says he doesn't see it as a risk. >> i trust garrett implicitly with this. he's got a great team working with him, and they're really good at this. this is a great example of a pretty abstract notion to get into a glass of beer. but they've done it. next week on "the boss" -- >> seeing yourself on tv, it's great self-awareness and think i've learned a lot with that. >> we've shared the highs and lows, witnessed past successes an learned of his future plans. now almost a year on since our

first visit to maxim's, it's time to say good-bye to michael wu. that's next week on "the boss." this is "world business today," and that is an emperor penguin on a beach in new zealand, thousands of miles from home. find out what he's doing so far from home just ahead. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night britta told me about a tradition in denmark, "when a person dies," she said, "someone must open the window so the soul can depart." i smiled and squeezed her hand. "not tonight, britta. not tonight." ♪

welcome back. you're watching "world business today." >> multiple tropical storms are aimed at southeast asia this hour. severe weather is eyeing the united states. for that, our meteorologist joins us from the international weather center. good morning. >> good morning, we talked about the flooding issues across china with the monsoon season. a different story taking place right now. i want to show you the live perspective out of victoria harbor. this is tropical depression hyma, the outer bands beginning to impact portions of hong kong. wind gusts as high as 50 kilometers per hour. just the satellite image of how it looks from space there, on satellite imagery and the weather pattern, there it goes,

that's the detour right there. well to the north in central china, eastern china. now the round of rains is focused on southern china. this will make landfall in the next eight to ten hours with winds about 45 to 50 kilometers per hour. the gusts approaching the 70 kilometer per hour range. it will be a very wet evening and eventually thursday for much of areas within hong kong and westward upwards of 15 centimeters, perhaps 25 centimeters as you approach areas within high nan and high queue. it will be interesting to see how this works out in southern reaches of china. active weather also across the midwestern united states. i want to share some video coming out of this area across the state of nebraska. the world series, college world series baseball competition taking place out there on monday. severe storms roll in and they have the tornado sirens go off

to the point where they had to actually evacuate the buildings, send the fans out. you know what's happened out there across the united states. we've had multiple areas of large sit tease getting hit with tornadoes. folks certainly on edge, not trying to mess around, certainly no confirmation of a tornado touching down. at least people are taking the proper precautions in the united states. charles? >> ped ram, thank you very much, joining us from the national weather center. andrew? >> charles, new zealand as we know is flown for its flightless birds. the latest strange bird to show up on a new zealand beach is no i can which. he's a very long way from home. chrissy more ro explains. >> a majestic tourist from the south poll looking well out of place on the coast. locals came to catch a view of this rare site on the beach. >> i want to rescue it, poor little thing. >> beautiful.

so nice for him to see it as well at such a long wage. >> a long way from home, the flightless visitor is usually found in the antarctic, up to a meter tall and weigh up to 30 kilograms. >> a bit little or big? >> big. >> this one would have been among this year's crop of chicks. usually they stay and feed on fish and squid and criminal, this one has kept going north, a very long way from its usual range. >> this juvenile only the second emperor penguin known to have visited new zealand's shores, the first one on the beach in 1967. >> to have one this far north is very exceptional. >> first time in 40 years and we get to see it, just very special to be part of it. >> the department of conservation advise z people not to disturb the penguins and dogs should be kept on leads. >> dogs are often walked on

leads. >> three motor bikes came flying past early and that stressed it. >> who do you think he might be missing? >> his friends. >> reporter: it's thought if he gets too lonely, he'll eventually head back to a more familiar, colder climate. chrissy morrow, one news. >> we wish him luck on his travels. don't forget if you want to comment on any of the stories you see on the show, get in touch with the whole team on the facebook page, facebook.com/cnnwbt and let us know your thoughts. that's it for this edition of "world business today." charles and i will be back with maggie lake later in the day. for the moment though, good-bye. >> i'm charles hodson in london. we'll be back at 2:00 p.m., 9:00 p.m. in hong kong and 10:00 p.m. in tokyo. world one is next. -- captions by vitac -- www.vitac.com