move the joint below to the elevator that's the gateway to the ground imperial truly the torch was the push you can to listen to tell the socialist that you see don't need to go and. read this in the kernel was her job as a retreat. rupert murdoch's media empire abandons its bid to take over britain's largest satellite broadcaster as the frenzy over newspaper hacking consumes both politicians and the public's. america's threatened with a credit rating made of stone wall the budget talks it's only the world's eighth largest economy scramble to avoid going down the plughole with greeks. the official death toll from russia's a pleasure cruise a bizarre start rises to one hundred twelve thousand five hundred time to find those still missing. the owner of the company that ring to the ball daria for its final voyage and a state shipping expert said it was fit to sail have been arrested for bringing all

the details in just a moment. and on business out see amid economic uncertainty investors are looking for safe haven assets gold is setting new records every day it's that fifteen hundred ninety two dollars an ounce and this hour more on that in twenty minutes joining. a very warm welcome from this is r.t. live from moscow i'm rory singh shy british police have announced a seventh arrest over the hacking scandal surrounding rupert murdoch's embattled media empire and follows a statement from his news corp company saying it's dropping its bid to take control of britain's largest satellite broadcaster and move isn't intended to head off public outrage over allegations that several of its newspapers were engaged in a rampant phone hacking. addle has grown to include the british government and

police officials who stand accused of complicity and corruption only time across the atlantic shocked us senators are calling for a probe into allegations that nine eleven victims were also targeted by murdoch's newspapers result he's a lawyer and it reports the media mogul's rise over the decades offered plenty of warning signs of what was to come. rupert murdoch's push to expand in british media has come to a halt the public and political rage overthrown hacking has forced news corp to drop its b. to buy satellite broadcaster b. sky b. but some say he's already killed the british press and they were saying it as far back as one thousand nine hundred eighty one that's when he went on a media spending spree and bought amongst others the world renowned times newspaper news international has been playing a toxic part of our public life for so long but it worked under his ownership circulation just kept on rising in a market that killed off others and sky t.v.

a loss making and obscure satellite network rocketed to become the biggest player in the u.k.'s pay t.v. market i do admire rupert murdoch because he's a risk taker when he bought the times and sunday times of london the newspaper business was absolutely in peril in the u.k. mostly because of the unions and because of some other economic factors in turn that around. basically there are people who will say that he saved the newspaper industry in london because of the whopping revolution in one thousand nine hundred six but now it's clear that success came with a heavy price tag morality murdoch's journalists kept the ratings high high violating and exploiting the vulnerable they hacked the private voice mails of families of dead soldiers and of murdered children essentially we've seen criminality and invasion of privacy on a staggering into scale not even the rich and powerful could escape then chancellor

gordon brown's baby was splashed over the front page of the sun his illness a sick headline royal family phones were hacked the scandal even goes right to the heart of the police force senior police officers were bribed by journalists for to ports on sensitive investigations private lives were made. now we've got is that. somehow going to gordon brown's private life you have to search your thoughts wonder what else is in and of course it's not only it's not just. blanket these are people who information what should be private sources by medical records tax records it's taken thirty years for the worst fears about the british press to come true but come true they have murdoch may own successful newspapers in an ailing market but their papers which have lost their greatest assets the

public's trust the u.k. has more c.c.t.v. cameras per person than anywhere else in the world i've counted eight just in this small car park so britain's always know big brother is watching but the question now is what speak brother watching for and more importantly who's trying to bribe him lower and it's r.t. . i want to get your you know your say on the scandal on our message board r.t. dot com the question is has rupert murdoch's son station and mr rush for profits undermined the public's trust in british journalism so i'm going to start and i will see what some of you were thinking there one of you believe this has jolted the public's trust and will result in the break up of stranglehold on both the british media and the government believes that modern journalism has sacrificed objectivity for the sake of sales have no say on the issue right now arts he thought. same a credit rating agency that sparked

a fresh panic in the u. s. now threatened us moody's says it's reviewing america's top triple a rating for a downgrade citing the political bickering that's deadlocked budget talks in washington and even if the budget is approved it's unlikely that a bill of a solution to america's part that's according to investor co-founder of the quantum fund namely jim rogers u.s. rating should have been downgraded years ago you know i don't know why they're just now getting around to it but we know that the rating agencies don't have much of a clue about anything but moody's is trying to save itself why don't make out great portugal three years ago five years ago or greece you know they're just getting around to reality it's like the sub prime mortgages they didn't downgrade anybody until it was already over they had many people that were going bankrupt radio to strip away something will happen they will announce some kind of deal it will look good on paper and maybe they will even be good for six months or so they have to increase it can't ceiling for the moment there's no question about their their

choice though for the future is they've got to take an axe you know they've got to take a chainsaw to government spending and do something about it they're not going to do that they say they're going to say they're going to do it oh we should be very worried because america situation is dire and our debt is going up and we are a garden climbing standard of living is going to get worse we should be worried about their. i know you also heard from american economist radio host richard wolfe he says that the u.s. economy is in a really serious trouble and a political deadlock over the budget could make the situation on the cards here american the government can't pay its debts for a few days and that's the most that will happen it will do a very bad job on diminishing the credit of the united states in the world economy at a very dangerous time to be brutally honest neither side neither the president of democrats nor the republicans are facing the basic issues of this economy we are in serious

trouble we have very high and persistent unemployment and what we are doing is arguing over the technicalities of the debt ceiling that is going to be changed and raised as it has been every other time this theatrical drama has been rerun and meanwhile our political leaders are not dealing with the underlying problems we're facing an economic situation that is more dire than any i have seen in my lifetime of being a specialist on the american economy and i think we're seeing a growing alienation of the american people from the whole spectacle as they watch their real situation deteriorate and nothing really is being done. and still to come in the program here on our fiscal woes on the other side of the world europe's struggle the euro afloat takes another hit as the world's largest economy wakes up to the reality steeped in debt. israel's prime minister has to step out in defense

of an anti boycott the bill which are aims to support settlers has been dubbed an affront to democracy. divers have lifted more bodies from their watery to the sunken pleasure. it brings the official death toll from russia's worst ever disaster to one hundred twelve meanwhile the police have made the first arrests detaining the owner of the company that rented out the ship and the person who certified it as sea worthy of his time barton is out of sight for us. the first two arrests have been made in the ongoing criminal investigations the first is in new york she's been arrested because she was the owner of the company that rented a boat garri or pleasure boat for its final cruise and it's thought that she may have known about the poor condition of the ship but when she made that decision to rent it the second is yeah sure he is a state shipping expert and he cleared the ship as fit to sail some time ago and

it's thought that he may have been negligent in making that decision they will stay in detention for around a month to be questioned and then the case will go on from there in the emergencies ministry here on the volga the divers that are going out to the platform above the sunken bowl garia they say their final effort is going to be made now to try and recover the lost bodies. from from the ship and however there may be some complications with that they're hoping to finish sometime later today that they've searched most of the ship and they haven't found all of these bodies so if they're not on the ship some of them when the ship sank people may have unfortunately drowned in their bodies being carried by the currents to worst estimate up to two hundred kilometers downstream so the search area may have to be increased for them but they're hoping to finish this search so that two special ships that have come

up from volgograd further down the river can start the operation later on to try and raise the bulgarian from the bottom of the volga and when they can see the ship up in the open air they can try and work out why the ship sank and why it sank so fast leading to so much tragedy. we've got more on rushes of worth putting out to them on our web site. you can watch footage of the recovery. efforts of divers in the volga river there's also an interview with a former counsel of the game ship he says it was in no condition to long for the sinking. russia has proposed a new step by step strategy towards iran's nuclear program the i do suggest making a limited concessions to tyrone if it goes along with the demands of the international community the statement comes after talks between the u.s. secretary of state hillary clinton and russia's foreign minister sergei lavrov this was

a hearing his visit to washington and she also touched upon the libyan campaign with russia disagreement on the matter with some european countries parties garniture now brings us more on that. with regards to leave here both russia and the u.s. have the view that colonel gadhafi must step down and that would leave you should be able to choose their future leader it's the path towards those things that moscow and washington disagree i mean if you were criticizes the scope of the in the foreign intervention in libya moscow sees the actions of the allied forces the forces there as a violation of the un mandate minister lavrov said the resolution is being wrongly interpreted as anyone can do whatever they want prime minister laugh it off was also asked about why russia is blocking a u. and a shift to condemn the syrian president assad he said the attitude of the west is exclusively about exerting pressure on one of the parties namely the syrian government and president all side of moscow sees it as sees it as the wrong

attitude russia says it sends the wrong message to the syrian opposition prompting them to believe that if they remain insistent in the situation keeps getting critical of the west will come to help them the way it is happening in libya mr lavrov said it's unacceptable that the opposition resort to violence agitating peaceful protesters into engaging in armed clashes and if actively turning them into targets for the police and security forces take a listen we wanted to. see. exists not so condemn and score political points diplomacy exists just solve problems and make it condemnation without proposing any solution won't lead us to any breakthrough neither in syria nor in any other place there is a good example of how we are all dealing with the situation in yemen no one is proposing to condemn anyone or until the un security council resolution supporting one or another signs everyone is urging that she signs to see down and hold negotiations dance

a responsible approach that we hope will prevail. and to read more about the agreements reached during a visit to washington just log on to our website dot com plenty more for you there as well including find out why the first man in space yuri gagarin has been unveiled right in the very heart of london. and it's a happy ending for an escaped but work tricks which of course it was lost in russia sent me off to let me grab a log on to article three to find out how the. slip away in the.

wealthy british style. market. why not what's really happening to the global economy. with. a no holds barred look at the global financial headlines.

and back in with the law from moscow right now it's just not a quarter past the currency crisis gripping the e.u.'s taken a turn for the worse by a string of ruinous market downturns is knowledge baiting emergency spending cuts trillion dollars the world's eighth largest economy has been struggling to remain competitive since joining the euro zone but it's that has spiraled out of control

a fact overlooked by many of the more pressing problems in the e.u. it follows. that junk status serious blow to the euro zone as. its weakest economies you can. see that the latest developments prove the single currency union is simply not working. always about politics it was not. the idea that you can. in the mediterranean in line with economies like. growing economies like germany was never going to be great to get around for this mess is for those countries to go back home for their national couldn't see the value. of their exports going up the moment they can't use their because they couldn't see these are controlled by frankfurt they controlled by the european central bank they're not controlled by athens or even top of the people out on the streets in athens and i just wonder how long it will be before the people i was. in rome. this

thing is contagious this thing will move right across the continent specifically in the mediterranean and the big issue now facing the european union is really. the eurozone the largest economy in the world i think you can actually cope with greece from portugal very small economies. the whole thing could cave in because italy goes. intertwined with spain's under spain go there and we are in serious trouble. that plague sweeping be used spreads through italy assays much closer in states you have got discussed whether the country's gold reserves might be making it a bigger target because reports coming away in just the time of this time but for now there's a pretty. point four hundred tons of gold and only the second biggest position in the euro zone and that's the mother lode that i think that's been a target all along the green the ireland portugal those are side shows there are little micro-cap countries not much of

a deal there but italy's got actual gold that the i.m.f. and the people who support the i.m.f. the terrorists as i mentioned like eric cantor they're helping to facilitate the feeding of that twenty four hundred tons of gold because that is meaningful. all right only twenty minutes past the hour now here in moscow it was a turbulent session in the israeli parliament as the prime minister himself had to defend a new bill outlawing consumer boycotts of products from settlements on occupied palestinian territory the law imposes fines on boycott organizers and allow settlers to sue them for compensation and opponents of called it a blow to israeli democracy and free speech one the peace movement called. has positioned to the high court against the new law the bill has punished has pushed the already distant possibility of peace talks with palestinians even further away

that's the view rather of philadelphia a spokesperson for the shake and solidarity movement. obviously this is not the only and only democratic law but it also shows that in a sense in a very deep sense the settlements already lost a large part of their original resolution was in the interest of community only because that is the only that is the only reason why you need to stay and she said such petitions as the growth of quickly. current regime in israel is not really interested in promoting a very big peace accord with the palestinians this move is not only another bash in the face. of the chances to where to reach a peace accord but also. in a sort of a very strong step forward diligent always being the israeli peace striking for if you're going through additional support i don't know if you are mr r.t. is to meet with the business news up another that's got some other headlines from around the world. and i think i'd come and have killed at least seven people and

injured dozens overnight in the early hours of the morning in pakistan's largest city of karachi vehicles and car tires a little fire throughout the city the violence which has been raging for five days has already claimed at least ninety three lives it was sparked by the decision of the city's most powerful political party to leave the federal ruling coalition and join the opposition. last has ripped through a mosque in the afghan city of kandahar during a service for the president's half brother who was assassinated earlier this week at least four people were killed among them a top cleric and the provincial council reports claim it was a suicide bomber the information has not been officially confirmed. israeli warplanes have bombed its three smuggling tunnels along with another reportedly used by terrorists in northern and southern gaza the attack came in response to two rockets fired from gaza into southern israel which caused minor damage to our house palestinian medical officials claimed five civilians suffered slight injuries while

the two are missing israeli military officials say rocket fire from gaza has been increased recently. right up to date on all the news here on r.t. except your business news so i want to start by dimitris here just to get. those on the fallguy. lucullus international sanctions as it takes place in prose on july ninth and since. this living collections by russian designers is the most beautiful gorgeous city of central russia. this is a living thing children's function shows slowness like presiding over the festival . russian president james mrs.

blair and welcome to business r.t. precious metals are enjoying another strong session as investors look for a safe haven from the storm brewing in the world's biggest economies gold is posing fresh record highs seen as a traditional store of values being driven by concerns over the u.s. debt situation and the prospect the federal reserve will print get more dollars now joining me is the last thing in trade that e.t.f. capital hello to you but i was so what do you think is the biggest driver of the market the prospect that the federal reserve will print more money and therefore inflation or the worsening that situation in europe and the u.s. . well i think it's an amalgamation of all these factors dimitri is pushing the price of gold higher it did look like a few weeks ago that the price of gold was going to come in lower but in here you're starting to see increased eurozone concerns increased inflationary concerns and as you mentioned the prospect of more quantitative easing more stimulus spending from from the federal reserve we thought that that finished at the end of june now in the last couple of days or so there's an increased likelihood that the

federal reserve could start to print more money and that is going to go to two areas are going to go to gold and into equities are most likely gold at the moment so he continues to push on higher gold is currently trading just under six hundred dollars on the spot market but there's no reason why you can push through that exactly we're seeing gold of fifteen hundred ninety two right now where do you think is the talk of this rally. is very very difficult difficult to call because it's making new highs at the moment and as long as it's making new highs there's no ceiling there until you get to the round figure so obviously sixteen hundred dollars would be an obvious level for the gold to hit and then you start to see some profit being taken off the table but then you could push through that and as there's no ceiling you could carry on going to seven hundred eighteen hundred dollars these are difficult pools right what if what if lawmakers in washington actually got a grip on reality and did something about this whole deficit situation do you think

in this case gold could come crashing down. i don't think so because that's just one of the factors that would need to be resolved in order for gold to come back down again we still have ongoing eurozone debt concerns which is pushing investors to shift their money out of equities and bonds and into into gold we still have inflationary concerns which is again money moves away from inflation sensitive products to safe haven assets such as gold so solving the debt situation in the u.s. would just be one of the factors that would affect gold price so would you actually recommend right now investing into gold for those who didn't jump on this bandwagon before. it would be worthwhile having gold in a portfolio but then you've got to be wearing a buying such levels and gold can be physically for this i think it can be particularly sensitive to any economic use and what we have seen

a drop twenty thirty dollars even in a day or so so if you're buying by small all right in this case that investors are actually getting worried a gold is getting too high are there any other safe haven assets worth considering . is this very fear of the moment do you think that the dollar would be relatively safe but we've got the shoes in the us even the dollar which has seen a bounce in the last couple of weeks is starts to come back down again so unfortunately you only have gold and then you have secondary assets such as silver and platinum but that would pretty much be on the back burner gold is pretty much the only one out there no gold is actually setting record highs every day whereas silver used to it came up to something like forty seven the dollars per ounce now at thirty nine wouldn't that be a good option. could you repeat that again because we've all silver is actually a thirty nine dollars per ounce the highs were more than forty five dollars per ounce and i'm not mistaken when that then be a good option. it would be silver is

a lot more volatile and it has a lot more industrial uses the gold and it's not often seen as a city safe haven a place to park in money and silver was experiencing almost bubble like qualities a couple of months ago the experience back in the night so is basically volatile and you could find that you could be going silver relatively high and you could be seeing on some heavy losses a couple of weeks down the line all right now and i was i was hearing a trader from e.d.s. capital thank you so much always a pleasure. i was moved to the markets then the european markets are trading in negative territory they're driven by the overall uncertainty over debt problems both in the e.u. and the u.s. banking group is putting on two percent is bucking the trend in london and frankfurt metro a.g.m. commerzbank are actually seeing losses of two point six and four percent respectively one carmakers b.m.w. volkswagen and dima are strong. russia's markets in negative territory

but they are coming back from the losses that they saw soon after the opening so the obvious down point two percent nice six point three percent take a look at some of the main movers energy shares like gazprom a new core down one point three percent for gazprom there that's on the uncertainty of where the oil will go it's high enough and ready financials like sperm bank was losing point six percent gross telecom is seeing one of its most volatile sessions yes again this month it's a down one percent it's you know you're all over the place pretty much or i will join my colleague martin across russia will be here in one hour's time with a business update.

hungry for the full slim we've got it first hand the biggest issues get a human voice face to face with the news makers. first of creaming the old cold a clear cutting. second to explain so charlatans to blast in a deeper than the fears. surface of the remains are removed by machinery and. finally the someone who'd soil is deposited in vallecito. top legal team.