expense of the others so this is now is following the gathering for us in seoul. shared recovery beyond the crisis is the main theme that of course means money the summit kicked off with a business forum and there president medvedev urged the g. twenty to create a favorable environment for medium and small business does he really believes that that will get global recovery going for the first day is very much set up for bilateral meetings president medvedev met with british prime minister david cameron there the dialogue very positive both saying they see eye to eye on many of the top priorities of the g twenty and of course the top top priority is the economy and you can't talk that without china president medvedev did meet with president hu jintao in bear they most likely spoke about the u.s. fiscal policy which the world is not very happy about right now the u.s. of course demanding and pushing very hard leon china to revalue its currency while at the same time pumping six hundred billion dollars into its own economy of course

devaluing the dollar so there is an air of hypocrisy and leaders around the world are seeing this protesters are seeing this artie's alice hebert takes a closer look at this high stakes battle for the world's currencies. there will be plenty of soul searching at this g. twenty for the south korean capital it underlines its economic but there are major . as country circle the wagons while others try to cool the shelves then that is the problem to the north. this year's g. twenty is being billed as the financial coming out of to south korea proof of just how far the country's come in the nearly sixty years since the end of the korean war once poorer than it's an old and communist neighbor and now the thirteenth the longest economy in the wilds north korea may just full kilometers north of this freedom bridge and demilitarized zone but economically the to paul's the threat

from the democratic people's republic leaves particularly large. and solace in taking any chances with security forces on high alert but it's another conflict on the g. twenty leaders minds the outbreak of the so-called currency war the us lead the charge accusing china of choosing world trade by also officially weakening its currency it was the one to be pulsed it the united states is going to try and saying we want you to commit economic suicide just like japan did we want you to follow the same thing we want you to revalue their currency we want you to squeeze your companies we want you to go bankrupt or you can imagine what the chinese are saying they're laughing they're thinking you know are you guys and yet washington stands accused of allowing its own dollar to windle wallinger merging markets his own currencies are rising strongly and damaging the export competitiveness can plagues intensified after the third reserve announced

a second print run of six hundred billion dollars the quantitative easing designed to get cash flowing but with other economies warry will flood bear market russia's president medvedev wants the summit to agree that when countries like the u.s. take big steps to save themselves they consider the ripples it causes and get permission from the g. twenty first the russian position is that we need more coordinated approach we don't want surprises from partners. we want. more. central banks. stability in the markets among other leading critics of germany the world's fourth largest economy its finals minister calling the us helpless i don't think the u.s. is making its case any stronger through the measures that is taking through printing dollars to weaken its own currency because that looks far too much like

a competitive the. well i think the european countries see it as a dangerous move because what it could do is increase the capital. around the world but that's not what barack obama wants to hear the president's call for germany along with china and japan to ally last all the dominant export markets and spend more to. death is the truth is that no one is happy with today's international monetary system especially the dominance of the dollar as a reserve currency and america's management of it and what business leaders want the g. twenty to realize is that nations will have to fight their natural urge to try and protect their own countries trade and foreign investment unless if it sells out of korea a struggle if you put dictions about g twenty now bring into the equation greg whitey's editor of the american based news website business insider greg thanks for being

with us tonight how do you think the currency standoffs going to play out on friday the mini us getting more flak and calls but letting dollar rates flag while expecting the chinese and others to do the exact opposite. we're right now it's the world against the united states and in terms of an agreement to deal with the currency war nun's going to happen there is no interest coming from china or germany the two other key players to solve this problem instead we're going to get a weak resolution that pretty much says nothing the u.s. isn't it is spending its way out of recession despite having the world's biggest debt. the world's paying i mean the world is paying the price through the asset bubbles that are being blown throughout the emerging markets you can see that in chinese inflation rates last night the amount of money that's being spent on producing new real estate in china is a sign of that capital flowing there and the world is going to pay when those asset bubbles come to burst which should let us because there's cloth other countries

have to of course when things are tight should the u.s. be doing this. well fortunately for the united states there's always a buyer out there for us dead and everyone uses the dollar and there is no alternative to that right now there has been some discussion about returning to the gold standard but that's extremely unlikely so right now the u.s. is in a unique position it doesn't have to worry about cuts like europe but what it can do is continue to spend as it wishes until someone can come up with a real viable political solution to this problem while it's got its big meanwhile your obsession is spreading of course. just about how unpopular that is we've seen it is indeed in britain over the last twenty four hours doesn't it show i guess how out of chew with each other the g twenty big guns actually are these days absolutely and there's really only two tunes being played one by the united states and one by the rest of the g twenty everyone's in opposition to what the united states is doing in terms of quantitative easing but the us continues to do it

anyway of course simply there is no real strong argument against them there's no there's no binding agreement of these other countries to fight back yeah talking of nothing big nothing binding about what the g twenty does all thinks it through at the end of the day what difference does it make what they decide. well there's not much difference what the g twenty decides on you know over the next couple days the bilateral conversations that are going on today are far more important if president obama and president hu jintao can come to any sort of conclusion on these issues that would be far more progressive and far more helpful to the global economy but to be honest this is really a set of meetings that are going to achieve much sounds a bit dull do you think there will be any headlines coming out of it at all the next twenty four hours. well there are some discussions that there might be some side agreements on things like the derivatives over the counter derivatives markets and perhaps banking regulations but you know these things are going to be neat even

if they're passed so what we're going to get is very few headlines and just sort of this this positivity coming out of it that will in the end really fall away within probably two or three days will certainly be keeping our eye on what's going on over the next twenty four hours there gregory white thanks for your input editor of the american based news website business insider. and it's the latest twist in the summer's big spy scandal a russian newspaper says it discovered the identity of the man who exposed eleven russian agents working in the united states the coma son daily claims it was a form of foreign intelligence service employee but so far there's been no official comment about that. reports. community newspaper claims to have held its own investigation and the see that almost should've baku off an officer of the russian foreign intelligence service was a double agent it was him responsible for blowing the cover on his colleagues in the united states last summer which resulted basically in the biggest spy scandal

between moscow and washington since the cold war era the newspaper says that before this scandal erupted paula should walk off was offered a promotion by russian authorities which she rejected possibly because he had to take a lie detector test which could have revealed his activities as a double agent and also reportedly so a month before the scandal should walk off daughter left russia to the united states. and also this could put to him that she might have known that something was about to happen in june american authorities announced that they were arrested a group of people suspected of being secret russian agents who worked in the united states undercover for years in some cases for decades and they've all been arrested or found guilty by a u.s. court of being unregistered foreign agents and deported from the united states to russia in exchange for four people who are serving time here after having been found guilty of being foreign spies back then this summer everybody was talking

about on a chopper and one of the people in that group deported from the united states a very successful young businesswoman everybody started calling her the russian james bond girl and she really got most of the media attention now became a sun newspaper and is now also focusing on the one of the members of that group of deep ordered from the united states this man has already been deemed a super agent and this is mikhail was soon cool left of the soviet union back in the nineteen sixty's first to spain and then to latin america. he became a photographer and it became known under the name of one. traveled to the united states became acquainted with a lot of politicians and other officials and this man reportedly denied being a russian agent up to the very end and it was actually. course who presented to the

secret materials proving. it was a russian agent and it was all me very in that he actually said it is a real mean to the investigation so some really interesting details are now emerging despite the fact that the scandal itself erupted just several months ago. can offer appalling there britain's prime minister's condemned the rioting the broke out in london during wednesday's student demonstrations it was the biggest protest yet against the deep cuts the country faces to tackle its massive debt tens of thousands of students marched against a planned hike in chu issued fees which could see them travel to nine thousand pounds a year tempers boiled over outside the headquarters of the conservative party which is the main group in the governing coalition protesters burned banners broke windows and hurled objects at the police over thirty arrests were made in the clashes which left several spiking college costs and a harsh budget cuts come to top of course when the u.k.

is playing to send more money across the channel to fund the e.u. next year i spoke to david campbell bottom and he's a british he told r.t. that increasing the e.u.'s budget is pointless because of massive waste. we've only been clear really in the last week what's happening which. is a huge to change and of course the lib dems are a liberal democrats who are part of the coalition government promised to get rid of true efficiencies altogether so they been caught lying affectively a lot of anger but there's no excuse for this kind of violence on the streets of london when you look at where the money's going i mean the m.e.p. expenses account has gone up by it. five percent that's for entertainment you're getting film prizes there's money going on the hunting as states and to private golf clubs you know it's a huge waste of money there's no excuse for any increase in the e.u. budget in fact it should be coutts we think the economy has posted about this to

provide percent increases being great card relative to six percent that's what the european parliament here wanted a six percent increase which is outrageous really but to be honest this is not true it hasn't actually been agreed it's no it's called is only by the actual chief negotiator here the every negotiation involve the parliament has called this three point nine percent claim as being dishonest and the present the european union says it's an opinion not a decision so i mean to be honest you know where we are the budget could be far more than two point nine percent it could go up towards six percent in theory so we really are left in limbo here but there's no excuse for this kind of increase. the mail bomb sent from yemen and intercepted in the u.k. in dubai last month spread panic around the world but no reports of service suggesting they weren't bombs at all but simply a hoax by intelligence services to claim good foil the attack officials have said the packages were addressed as chicago's synagogues and get more on this one for

investigative journalist when one is looking at the story for us either way good to see you here you've always got you know zone of course for a potential scandal here must say anything you're mentioning here cause unsubstantiated at the moment tell us a bit more about these allegations or just looking at some of them surfacing here people claiming the us tara flight from yemen never was and that there are no batteries no detonators in those supposed bombs what's this all about. well i think we have to look back at past incidents for example the underwear bomber flying to detroit from amsterdam who was allowed to basically board the plane no questions asked we had the times square physical bomber where something fizzled in times square and and the guy was sitting there waiting to take off at kennedy airport and when the federal agents came in he said i've been expecting you know what took you so long i mean here's another case now we're being told that this u.p.s. cargo flight was either going to blow up over new jersey new york maybe upstate new

york maybe pennsylvania and maybe canada it seems like once again we've gotten one of these stories that may have been engineered prior to the election we're always sitting here in washington waiting for october surprises before major elections and this may have been another october surprise why why why why why would they do this . well i think to make president obama look like he was on the ball on national security issues obviously it's one of the areas he's been he's been attacked on i think the other incident interesting thing with this bomb that was supposedly found at east midlands airport prime minister david cameron was not informed for sixteen hours that this was such a major terrorist incident why did not he and the cobra team meet immediately to discuss this why did they wait sixteen hours this thing started to sound like they fit infamous shampoo bombs from flights from britain to the united states which

only resulted in a lot of airport security people up taking a lot of very expensive liquor from the duty free shops when the passengers were not allowed to board the planes with it when this all kicked off through the day i was on shift myself i was at home knows what the other news channels who climbed up to get on to this story the old job very very quickly got a lot of coverage do it didn't they what do we know about these counter allegations these people saying this didn't happen the decentest of the story if you like what is the prove what why did they know any more than anyone else well i think people don't you know there's always a very quick reaction to jump on to all these terrorist related stories obviously maybe some governments and some intelligence agencies have cried wolf one too many times so i think when we're seeing skepticism and cynicism about these reports i think it's because they've inundated the public with so many of these false flag stories people may have started to be getting wise to him and maybe some

people in the intelligence community are starting to leak the truth to blogs and things like that when we're a bit tougher time but why is this story going to go do you think we're going to a lot more on it. i don't think so there now in the united arab emirates is now looking at the incident with the crash of a u.p.s. plane in dubai we were first told that that was there was no terrorism involved but they're looking at that. but i think we've seen skepticism from the government of god or from yemen from the united arab emirates i think we're going to have to wait to see if there is any some real smoking gun evidence that comes out right now it's all very anecdotal and conjecture all at this point or i'll go across it with your help why it matters investigative journalist in washington d.c. thanks being on the line with us tonight. more news tonight doctors treating the russian journalist only question of pulled him out of a coma the report was savagely beaten in moscow last week but his wife says he

still has a long way to go to make a full recovery dozens of caution supporters have been gathering in central moscow . reports tonight. protesters have been gathering throughout russia's capital demanding a couple of things first of all they want greater protections for journalists secondly they want to have a speedy and thorough investigation into the savage beating of reporter and blogger of caution now he was severely beaten just steps outside his apartment building early saturday morning and witnesses say that two men were standing outside currently waiting for him and one of the alleged ugs was holding a bouquet of flowers which concealed a rod that was relator used to beat caution for more than a minute he suffered severe head injuries and broken bones including a leg and an upper and lower job he has now awakened from his medically induced coma we're told that he can answer yes and no questions that he knows his name to

he remembers what happens to him i would doctors are saying that they don't think that he has any severe brain damage but it's too early to tell if there are any they going to be the long term effects we're still early in the investigation but so far this case has been transferred to the country's top investigators they have a very good track record and they have experience with dealing with high profile cases so far forty people have been interviewed with so far a suspect list has not been released study supervisor correspondent over that story and of course the whole fortune of saga of the last week or two is chronicled on a website called me want to cut yourself up with the back story than what went on also in mind tonight on our home page of course israel buckles international pressure on its controversial west bank wall seems that others are finding ways to exploit the situation and cash and it's about to go also from us daryn small not from us dime one study kitchen utensils and limited edition sports cars not from us

this is in fact of the moscow millionaire fair the son of the thai people of twenty countries is taking a move. ten minutes from now we speak to a democratic congressman of the u.s. who says his party has to take responsibility for the country's troubles that's to come shortly after a thursday night business a couple of times with kerry. hungry for the full story we've got it for. the biggest issues get a human voice face to face with the news makers. in moscow she's available in hotels corsten. all those are all toto will publish it is congress motel east west never told moscow center no but. rather some s.e.'s lobby and sky park in sort of historical hotels of

a culture in the city. called small. meadow elegant i've been told club district for leicester tropicana hotel. hello and welcome to a business problem with me coming in malakand good to have you with us that's our first news for g. twenty summit in south korea where russia's finance minister aleksey couldn't has warned that if some nations continue to weaken their currencies it could force other countries to respond but. i think this problem may get worse if some countries will strengthen for example the ruble by weakening their own currencies and trying to gain competitive advantage of course it can force other countries to use different defense measures tariffs or import restrictions so we need to find a common path without mis balancing the interests of different countries should it

however could it also was hopeful that the g twenty would approve measures to avoid another financial crisis speaking to r.t. he outlined the steps. first of all the rules of financial regulation on the markets to avoid similar bubbles and big corporate bankruptcy now banks will have to meet basel three standards but if we talk about the i.m.f. and the reform of other organizations this summit outlined new quotas and plans for these institutions examine the rules in the current crisis how to avoid future crises and how to create an accessible credit network. it's not only currencies that were on the agenda in south korea politicians and financial leaders failed to reach agreement on the issue of trade imbalances like a craft check all the ports other divisions sell. reports of raised voices behind closed doors contrasts sharply with the image of unity two years ago then the

leaders of the g. twenty studio united in their efforts to avoid an acid crash turning into a global depression now member countries are divided on key issues the last g. twenty meeting pledge not to pursue currency wars since then the u.s. and around six hundred billion dollars of stimulus to drive down the dollar this conflict a problem please through a more volatility of the. currency market. i think it's a very of a bet for the world economy even former us federal reserve chairman alan greenspan stepped into the fray saying that the u.s. should not devalue its currency the move has divided emerging markets brazil condemning russia welcoming a new wave of capital inflows russia could actually benefit from that emulates in a different situation to the other say so-called bric countries russia has not had a substantial amount of capital inflows in the last couple of years in fact quite

the opposite flaws in the last two years of total almost two hundred billion so it actually could do it reversing some of that in taken some money back a proposal from the head of the world bank for a new reserve currency met with silence in contrast with a desire in two thousand and eight to create a new world financial order on trade the g twenty is also struggling to get the world's leading manufacturers not just to sell goods but to buy them as well along with china germany opposed a u.s. suggestion of targets for cutting exist trade imbalances one ray of hope however is that all leaders did agree to avoid protectionism. michael business auntie. time to see how the markets are performing the russian stock markets finished in the red on thursday raising virtually all the gains since the beginning of the week the r.t.s. ended half a percent lower from isaac spell over eight percent he grabbed bank and lost telecom were the biggest losers falling over two and two and a half percent respectively most european stock markets and at thirty session low

as well investors had to lock in some of their recent games on worries over ireland's financial health germany siemens the negative trend up to announcing a seventeen percent increase in its dividend and setting out missions growth targets siemens shares gained two point six percent helping the dax index. and pretty much the same picture across the atlantic where u.s. stocks declined sharply with technology companies especially battered after cisco systems gave a disappointing energy stocks are also fighting their way back to the flat line holding onto much of their recent run up that's despite losses in the broader equities market. and some good news for foreign gold mining as russia could lift some restrictions on gold mining in the country the natural resources ministry plans to lift the threshold for state owned deposits of copper and gold it means foreign companies will not be able to exploit deposits of up to two hundred tons before they are declared

a strategic reserve the previous threshold was just fifty times that made gold mining in russia impractical for foreign companies as the head of overall gold tim explains. you start with something small sort of becomes big now what does the government come by and see if. you have a commission that has to decide within that you can have you say wait a minute i've already spent you know one hundred million dollars on this thing you know you could tell me i don't own it. so by having that risk removed. against the risk of the unknown whatever it happens to be the fewer there are the better and by having the barrier raised up to two hundred tons it helps remove a lot of those risks. and that's all we have time for for this hour but join me next hour for another best update.

wealthy british style. that's not on. the. market why not. come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into cars a report on our. lives is just

a parliament building in urban. but then. sixty five years ago. it was the final target i'm going to ask me drew from some from an army took its country and became the symbol of the fall of the financial tsunami. and the fig tree omer nazi germany. the fallen moon on r.g.p. . very good evening from moscow it's some past hundred ninety here now on. with our top story the leaders of the world's twenty richest nations are putting their heads together in seoul as they brainstorm a financial revival but the threats of currency wars is casting

a shadow of the summit with some countries being seen to use exchange rates to keep themselves afloat at a cost to other. interests of the transatlantic spy saga as a newspaper reveals who it claims betrayed eleven russian agents in the u.s. this russian daily cites a former foreign intelligence service employee known as colonel should recall. britain's joining other europeans outcry over deep cuts to jobs and benefits because displaying yet of public anger tens of thousands of students descended on london against a massive hike in university fees well more money was poured into prophecy at the same time. next republican victories in the u.s. midterms underlined voters' growing anger with the current government did success abated by the lengthening job queues of political infighting over how to sort out the mess one democrat congressman though is taking it on the chin he spoke to a c said that with all the problems there.