>> captioned by the national captioning institute --www.ncicap.org-- here are the headlines this hour. headed for trial, he is on his way to the tribunal on charges of genocide. stronger trade ties visiting india with top business executives. and germany's unemployment rate dropped to the new low as businesses continued to grow and invest. he is no longer europe's most wanted war crimes suspect. he is in the netherlands now

where a helicopter transfer them to the war crimes tribunal just a short time ago. the former commander of the bosnian serb military is accused of war crimes including genocide. he is believed the man behind the massacre that left 8000 muslims dead. >> a government jet transported him to the netherlands. later, it taxied into a hangar. in at the touch of a political thriller to itw the journey began after a serbian corps refused his appeal against the transfer. the government welcomed the ruling. >> they have moral and international obligations. they need to prove that they

will meet our commitment. >> he was hot in this vehicle. they tried to confuse journalists within the space of an hour. he will be held at the international war crimes detention center where journalists gathered hours ahead of his arrival. crimes against humanity in connection with the siege of sarajevo and the war of the 1990's. >> in the hague, we asked of the trial will proceed from here. >> the first thing that happens is that they did the detention center. there will be an initial

appearing in front of the judges. he has the chance to plead guilty or not guilty. that is the first step of the process. >> how long as the trial expected to last? >> wheezy the trial that started in 2009 takes longer than expected. it will last for for five years. many people think the case will take the same time. it is very hard to prove that is a job -- the chief prosecutor might have to come by the cases because the two of them don't like each other. i don't think it is likely they will be a witness against each other.

they have something really strong in common and they don't accept the authority of the court here. >> for germany's chancellor, is about better ties with india. top executives and fro companies have traveled with her. they want to tap into the growing middle-class market. there is a lot of potential here. china, for example was nine times as much business as germany does. >> that to occur to a meeting with the indian head of state. germany is india's largest trading partner and they want to increase the business even further. there on the agenda with earlier

talks between the german and indian government organizations. unlike germany, his country wants to reduce it. >> we want to meet emission targets with a maximum possible emphasis being laid. >> on the german side, will do our best to ensure a very high safety standards maintained at nuclear power plants. >> but at the center of the talks was trade. the exchange between india and germany is already between 15 and 16 billion year as. >> syria oppose the president

has declared amnesty for political prisoners serve -- political prisoners. they show the latest demonstrations. activists have dismissed it as too little too late. it is a major legal setback for the russian oil tycoon. it is an unexpected victory. he was jailed back in 2005 on tax evasion. >> he is behind bars. in 2003, the zero oil billionaire was arrested and went on trial and was found guilty.

many of observed the the kremlin not targeted him because of his political activities. they believe they wanted to neutralize a potential presidential rival. his company was broken up have sold off by the state. it is a symbol of the ruthless hold on power. and i see him as the most famous victim of the authoritarian regime. he refuses to maintain his innocence. they say he violent -- he violated his rights. >> russian police have accused a man. the suspect was arrested at his parents' house in chechnya according to his lawyer.

he has been on the run for several years. she has been an outspoken critic against insurgents. we're going to switch gears. my colleague also ends drives this evening, you have the good news? thus the experts are saying that the economy might slow down, but the figures are looking good. that is also on due to strong demand for german exports. the german labor office says the unemployment rate fell 7% in may, lowest level since reunification. >> many firms are increasing

production. the number of new jobs is on the rise. more than 40 million people had a job in april. in other words, the big picture shows the german labor market is in good shape at present. it is now important to support this high-level and continue building on it. one of the biggest challenges is making up for the lack of skilled workers in germany. still, prospects remain positive. many experts predicted the number of unemployed to stay below the mark for the rest of 2011. >> of the company said it would cause billions. it is also seeking compensation from the german government.

extended the life of the nuclear power plants. they have decided to abandon nuclear power by 20, 22. the numbers out of germany helped shares. >> of the equity markets had a really positive day with setbacks. on the one side, they see really strong economic data coming out of germany. traders are hoping there'll be a solution. media reports that they are working on a second rescue fund, germans don't want a debt restructuring area other reports

are suggesting that they have given the green light to the next payment. as well as european banks. >> the have been riding high on those reports. fishing up strongly at 7293. also ending the day higher. hero trading at $1.43. the ratings agencies have been busy over the last year so. it cut the sovereign rating is aa to a. credit from dree funds make up about 1/3 of bank assets.

the agency fears it could have negative consequences. the country itself is struggling with growth. we'll be taking a closer look later in the program. >> a swedish woman has died from the e coli bacteria that contaminated the food supply. it brings the number of deaths as mainly affected germany. they were contaminated with spanish cucumbers imported to germany. the vegetable did not carry the bacteria. the german media and is usually restrained when it comes to the private lives of celebrities. the trial of a prominent swiss whether forecaster was accused of rape by an ex-girlfriend.

he was acquitted today, but the case has raised serious questions about the role of the media. >> tuesday's verdict marked the end of the trial had the end of a feeding frenzy in germany. his private life has been laid bare. observers questioned with the judges would be able to act independently. >> they have been quite un scrupulous. i think it is sometimes on the verge of violating human dignity. >> was the best kwn tv personalities suddenly accused of rape. for months, they pored over the story presenting them as evidence for the prosecution or for the defense.

supposedly they got a of the action, too. >> they just think everyone else is doing it so we will look, too. that is how many media outlets cut into the story. >> they have criticized the media for their behavior during the trial. he may have a case for defamation. >> of the governing body faces mounting pressure to delay the presidential election planned for wednesday. they will postpone the vote in light of corruption claims over the annual congress. the successful bid to host the 2020 to world cup, an ethics committee said the suspended officials from duty amending a

full investigation. this is the time of year that contemporary art lovers played for. they get underway later this week and is a showcase for art. we have a preview. >> our customers are descending on venice for the most talked- about exhibition of the summer. over 80 countries arehowcasing works here. among them, the united states with its tank converted into a treadmill. there were plans for the german pavilion to be designed by the german artist. but following his death from cancer in 2010, the pavilion houses a tribute to his work. often politically and motivated, he was a remarkable figure in germany.

>> over the years, he created extremely convincing works in a wide variety of media. i would say he was one of germany's greatest artists. >> arab artists have a high profile after an absence of 35 years, iraq has returned in a residential district. the aists are exiles. bringing artists across the globe in the dialogue on the venetian waterways. >> and they show no signs of growing old. this year's list of participating countries reads like the less of the world. hideous of national pavilions is

far from outdated. >> stay with us, we'll be right

the world food program. >> when they speak, the world listens, the three big ratings agencies. the issue grades on the financial fitness of our countries. they're all american and based in new york. their judgments can even put on the economy further into danger as in the case of ireland, greece, and portugal. not everyone likes what they have to say. there have been mass protests in europe against the the decisions of the ratings agencies. the country's very financial survival can put lives in

jeopardy. that is why the european union wants tighter controls on the agencies. that might be too little too late. >> agrees. portugal. ireland. the news report paints a scenario on the brink of financial ruin. three new york based firms essential to the crisis known as ratings agencies. standard and poors, fitch, and moody's. they have the ability of companies and nations to pay their debts. aaa is the best rating, c or d the lowest. these can make or break a country.

>> they intensify a process that is already under way. with government bonds, these ratings decisions can make a crisis worse. the taxpayer has to step in. >> germany has had to guarantee hundred and 68 billion year as an allowance and paid 22 billion into the rescue fund. economic experts discussed the power wielded by the agencies. one man at the conference, like all ratings agencies, he avoids speaking in public and he plays down the company's influence. >> ratings are not a mechanical output of methodologies. the help formulate our way of thinking. >> but how independent are those judgments?

we tried to ask him, but he declined an answer. the agencies are facing increasing criticism that act with impunity and without oversight. >> when the agency's rate national economies, their advice is often contradictory. countries must cut spending, but on the other hand, they reduced their ratings. it is a contradiction in terms and it shows how absurd whole business is. >> the command 95% of the global rating market. please determine the future of the entire european countries like portugal. at the same time, portuguese are taking to the streets to protest against austerity measures

proposed by the imf. the union movement has spearheaded many of the protests and is very suspicious of the role played by ratings agencies. >> in the ratings agencies are partly to blame for making the crisis worse. there was a point where portugal could have been more productive and was. when they reduced their rating for portugal, the mountain of debt grew bigger no matter how productively we worked. >> of the protest movement was fuelled by the realization that the economic status is on par with that of the u.s.. for example, when national debt is compared, it goes to pay off the nation's debt. that figure is 92.5%.

portuguese economists have blamed the agencies, accusing them of pursuing their own interests and exploiting a but awfully over the market. >> these are not independent institutions. there are owned by private investors and can profit in certain ways from the decisions taken by the agencies. what's more, they have and make use of inside information about budgetary policy of the business practices companies and other market participants. >> in the ratings agencies are

partly backed by investors such as warren buffett. they are putting shares of movies as well as other companies. portugal's public prosecutor has begun investigating the activities. they are independent credit analyst. that investigated the agency's. and he says they favor companies from their own country. the u.s.. >> having a aaa rating gives huge advantages. as we see, it should have been stripped of the aaa status a long time ago. that is a huge difference. the official rating means low borrowing costs and gives the u.s. the huge competitive

advantage. >> the agencies give the impression of using scientific methods to reach objective conclusions. but they don't publish the assessment criteria. there is no oversight over their methods. they have successfully downgraded the one after another to junk status. first degrees and no portugal. since january this year, the european authority has state -- a place tighter controls hot agencies. >> they are overlooking issues like government transparency and independence. it will improve the quality of ratings. >> it is del not enough. private companies should not be allowedo dictate where the

financial markets. >> billy want ratings agencies to play a role in the regulation framework? if not, we must remove the agencies from the important role that we play. >> they have not yet taken shape. the struggling economies will continue to look nervously. >> appoint a postscript, it is important to remember that the ratings agencies did not warn of the financial crisis before it happened. the power of the ratings agencies, thank you for the company.

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