in india she's available in the movie joy be a children's a movie that's a great way to turn the grand imperial shouldn't that george weston to school until you can a little closure return civility to go and. run the city the county was neutral as your school retreat. in sydney thinking i think of the asian stuff that sounds awfully good start here it's a credit rating consummating ten it's trading as its rights against europe's exchanges a bit and makes america. three years off to join john lynch to one scene to try and see in south assess yeah we need a bed with skulls a big tariff

a mediocre padlock it's. rampant you see and riots misplayed cinemas non-doing dolls in the boxes of injured trying to contain what started as a peaceful protest against things to make sure seem. very warm welcome to this is our scene live from the se asian stocks tumbled early on monday starting what's likely to be a string of torrid trading in europe and the us major investors are taking flight in america's government debt downgrade in europe's debt when that refuses to heal street is in asia is the third largest economy india with the latest outlook for the region. the asian markets of hearts humbling today which is what many analysts predicted on friday when this credit downgrading rating was released but obviously

this is what many financial analysts had predicted on friday we were already starting to see the markets tumbled on friday in reaction to the u.s. debt ceiling debate and these new credit ratings downgrade so good asian markets are reacting very strongly they have a vested interest in what's going on in the united states they are holding three trillion dollars in united states debt so everyone's watching very closely here to see what's happening in china is the number one holder in u.s. debt japan is number two they both have reacted very strongly to this crisis china calling all of this immoral and responsible and saying that the united states must to deal with this immediately and obviously there has been a lot of talk about moving away from the u.s. dollar as the reserve currency in the world and obviously there's been a lot of talk about cutting asian currencies into that of basket currencies that

would be used in substitute for the american dollar the cheese seven the leading industrial countries in the world actually had an emergency phone call yesterday addressing all of this and that was one of the things that they had to talk about they also issued a statement saying that the united states must deal with this crisis immediately so asian markets are definitely being impacted greatly by what's happening in the united states. with asian nations which hold the lion's share of the american government debt that armstrong is homes as a china hong kong based credit ratings agency has been telling all. probably. country will try to. come is that they're going to my boys are you survive a country gossipy my version of. mystic because giving such a. waiting and that's the. perfect. coming years.

the market will be quite one of all and coming coming years so. things definitely will tighten. many cooperation funds are. calling me a long term and short term. markets have to start and they're not they session after taking a hammering last week pushing this in russel's with the latest figures for us daniel how are the. yes market futures have suggested the stocks are down and will continue to slide over the course of the day asia brought this morning south korea's index had to be temporarily suspended when it collapsed there of course this is on the back of last week which was the world's markets worst performance since october two thousand and eight now this is the first more reaction to the historic downgrade of the u.s. on friday evening but the epicenter of this financial tsunami is europe where the crisis does appear to be spreading out of control in

a recession the announcement the european central bank said it will boil. dates which investors have been avoiding growing fears those who fall for all of them pay back those safe havens having a field day at the moment the swiss franc and gold have reached record highs as investors flee the dollar and the euro. and that no series of international emergency talks were held in the past twenty four hours happen any clues will decisions to come out of days. the g seven g twenty group or the leading economies have held emergency conference calls they've put out a series of calming messages south korea's deputy finance minister says there's no cause for concern now that has caused a lot of concern among investors around the world that's our leaders just don't get how serious the situation is at the moment italy's prime minister silvio berlusconi has also pledged to speed up spending cuts those. measures that are going to have

to go through to cut its that however economists are saying that that will make the situation worse because that will mean less job creation and a shrinking economy which is the last thing that it's really needs let's hear more now from an economic state. the italian government one point eight trillion euros now that means nothing to anybody but. the total government debt our lunch port. the gulf and greece put together before the end of this year it only needs to sell bourne's debt which is equivalent to the whole of the greek government bond market in other words all of the greek debt that we've been talking about for weeks and weeks and weeks is being looted razor's italy is huge lead is just too big to manage to in any way be rescued in the way that other economies have so far being bailed out by the e.u.

that. situation in the united states is also worrying investors our correspondent more important now looks at the situation. comedian george carlin always spoke frankly about his nation the only true lasting american value that's left by and big. things people spend money they don't have on things they don't need today country longer than by borrowing and consuming is in desperate need to cut it spending u.s. defense and security spending has remained untouchable soaking up seven hundred five billion dollars or twenty percent of federal funds every year since two thousand and one for the one point two trillion dollars have been spent on the wars in iraq and afghanistan but now with fourteen point four trillion in the hole some economists say it's time for the u.s. to compromise and world domination for domestic stability also probably have to see a significant request for questioning and downsizing of the several hundred foreign

military bases we have given the size of the budget problems and the growing issues around the national debt on the debt ceiling it is fairly well assured that the budget will be caught for defense and it probably needs to be cut more than is presently proposed for the pentagon priorities may be different it department reportedly spent twenty three billion dollars on global hawk drones alone this year taxpayers are estimated to spend one hundred twenty two billion dollars on the war in afghanistan the same amount that could cover an estimated twenty five million americans with low income health care an empire costs a lot of money because you have to spend a lot of money to defend that you have to spend a lot of money to promote it you have to have a lot of people working on various aspects of economic support for imperial adventures around the world the consequence is the money is leaving the united states going to other places not to the places in the united states that need it

the most needing it most is the country's neglected infrastructure and jobs that come with rebuilding according to the american society of civil engineers. a quarter of america's six hundred thousand bridges are listed as deficient and nearly half of american households don't have access to public transportation ongoing federal budget cuts are expected to force thousands of post offices and fire departments more than forty million americans on food stamps they also make sacrifices we just cut the food stamp budget by twelve billion dollars we have multiple experimental ongoing programs in the defense department each of which is large enough to offset the food stamp cuts and i think if we have forty one million people already who are dependent on government aid for food getting food to them is probably a first priority but defense secretary leon panetta is looking further afield for his priorities we are a nation at war. we face

a broad and growing range of security threats and challenges. but our military must be prepared to confront from works to remove nations government. of china nuclear capability. with regime which. always look at those to determine whether or not we will in fact a strong defense here and throughout the world eyes on the world while citizens peace mounting struggles at home that's what the owners count on the fact that americans will probably remain willfully ignorant of the big red white and blue. because the owners of this country know the truth it's called the american dream because you have to be asleep to believe marina r.t. new york. lost his business that kind of the world saw on the close watch the movie is. really about how the russians are suspending all this well the russian markets

are obviously respond the same way as a lot of markets around the world there are losing both the arts yes and the my six open deepen their right to extending for either losses and currently they're trading lower by about three percent and that's because investors are of course cautious about where it's their money and will of course have all expert analysis as well as more reaction about the russian markets in our business call it to and about ten minutes from now. two days of angry clashes in parts of north london have seen twenty six police officers injured on something. you can as a peaceful protest to mullins's just to save the death of twenty nine year old who was shot by police say that things turned ugly when demonstrations began attacking police and setting fire to cars and buildings. it is that. these are the scenes in

enfield town center tonight prior to this actually it's. taking over the town i'm standing here in enfield retail park behind me you can see legions of police in riot gear they are going round mopping up what we're saying is between one hundred and two hundred rioters essentially people who are looting the shops that you can see around me behind me is their choice of just that it's curries we've seen young men mainly but some women as well looking out of the shops with literally anything they can carry in their hands from televisions to vacuum cleaners but there's also bike shop here in some of the moves rid off on the bike shop stores police obviously are coming in to quell these these disturbances they're breaking out but this has been going on since saturday evening here in north london stores he didn't talk to them which is not very far from here where there was a sighted big show to protest the shooting by police so someone could mob so good

three hundred people turned out at the police station to off questions about how that shooting that fatal shooting taking place and what's in future it's very much the scene the easy bit tonight lou to see young people some people reportedly as young as seven year old children are being arrested police in these shops and there isn't an easy relationship kid and if these kids have no funds it between the people here on the police and this is people say a manifestation of that it's. a long definitely a c.c. on they're trying now and there's one group that has an extreme submission to its troubles to report passing on my last legs want to lay down a sheria nor the british capital is not going down well with as find out more of their plans to get stripped the synods. and the flying high oh not small sorry hold to know those pug competition foulness aviators to at least

try to reach for the sky watch their attempt. asshole. three years ago the people of the small republican south ossetia came under attack by neighboring georgia a brief for a war in which to b.c. trying to reclaim its old territories hundreds of lives due course for those in the south of the city councilwoman morial service is being held do you all standing on a very poignant sport right now says that it's an effective. tact suddenly a round. of the first tried to happen hand russian peacekeeping base now what you can see behind me i was based around two hundred fifty soldiers over and they

fought all night waiting for the russian troops to arrive russia sunstein troops to protect the republic citizens maybe also useful russian passport holders and also many were hiding and basements and a bombed out buildings now overhead twenty three soldiers were killed and many more were injured and as we spoke to some of them they told us they want to keep a building untouched in memory. i mean do you know what about the memorial services in the republic what's going to be in place. well the memorial services began last night so they will be housed throughout the day. a level thirty five pm that's exactly the time when you are open to fly over the city hundreds of people came last night at the central square to light candles and pray for those who died at three years ago in the brief destructive conflict many came with the small children everyone was holding candles they were listening to the rack ram and

also they released why did we lose him to this guy in memory of those who were killed at the war lost it for five days but hundreds were killed and so many more injured pinball was mostly destroyed after the bombings but though the face of the city has changed within these years still a locals are trying to restore their lives and we managed to speak to some of them while still struggling to bring their lives back to normal. and come here almost every day i sit and talk to my son. next to my dear boy. for the last three years stacey said nick has come to the cemetery in self-assertive where her son is burritt five days unorganised two thousand and eight split her life into a before and after. when her son view wallachia medical college graduate heard the republic's capital teen vaal was under attack from

georgia she rushed home to how the injured she joined in her arms us they lay trapped for days on to the rubble of their apartment block that was in the georgian i'll tear ease firing line. he says the only thing that makes her life worth living now is her twenty year old daughter they now live together in a newly built house to wrong by families with similar tragic stories. this area will leave special to go to those families who lost a lot of points and were left with nothing in that house across the street lives of men who lost two children and to the homes opposite lives a man who lost both his wife and his child. all these people are of their terms of georgia's military aggression in all those two thousand and eight when you try to retake control of the downed breakaway republic of south ossetia

a russian peacekeeping mission in the region also came under fire nurse maya based i was on duty with them and witnessed average thing that happened that night for it's i saw him fall on fire when you know it was going to be our last night it was still carried out peacekeeping mission and try to become. more school santry enforcement to protect its citizens and prevent more civilian deaths within five days georgian troops had been repelled three weeks later russia recognize that he has a dependence. the last three years have changed the face of this thursday a new residential area where new roads sharp and have been burst and have been built. but. the conflict remains this behind my back up slapped a big russian peacekeeping post for those who lived through the horrors of the brief but now the conflict in memories are still. missing the question when i see

reporting from symbolic suffer such. as a u.s. citizen who lives in south back in two thousand and eight and it. is for these bombings where he recalls the news from the american media pool and little resemblance to reality. the american press was very biased in in reporting the whole conflict i was here in the city and my family my my siblings and friends in america and i spoke with them and there was nothing in the press about the georgia attack itself was that it wasn't until russia responded that it was being televised that russia is attacking georgia my sister after i told her the truth about what was going on she saw a live t.v. show on fox thirteen they're talking about the war and so she called it in and she

said what you people are talking about is not the truth she said my brother is there he called me he told me what what happened with foreigners and they basically cut her off. with a saucy we here in more detail about the difficulties the southwest and people had so overcome on their way to a peaceful life. the history of this place runs through the centuries. a paradise rocky ologists zoo ologists and ecological tourists. one sees some nice shots destroyed the harmony of life. how does your public. think dreaming retreat in.

saudi arabia has pulled this ambassador from syria adding weights to the international condemnation of president crackdown on protesters more than fifty people were forced into killed as violence continues across the country on sunday will syrian forces stormed the eastern city of. crush antigovernment protests during the muslim holy month of ramadan heavy shelling was reported after a black clouds of smoke was seen lines in from buildings in the system northern seventeen hundred people have been killed since the uprising began in march international relations expert with among our ministers syrian policy it's good instinct. or good parents who are going. to practice or weapons are.

yours or your. girl. and her or or. intrigue or longer harm director or are. the real danger is. the war inside of. on r.t. more on the situation in syria and the arab world when we talk to iraq's foreign minister in the next hour on a very fluid now and other world news in brief in the u.s. has launched an investigation into stock today's helicopter crash in afghanistan that killed thirty american servicemen seven afghan soldiers and a civilian in tapper so it's the greatest single loss of american life since the beginning of the cold plate twenty two of those who died belonged to the unit that killed osama bin laden in may investigators say the aircraft was hit while

departing from helping a u.s. ranger unit that was under fire. from as well as presidents awaiting a second round of chemotherapy in cuba hugo chavez the how the pelvic tumor removed in june the exact nature of his cancer has not been disclosed bill is has been costing down so even his fitness to stand for reelection next year but president chavez insists he's responding well to his treatment and plans to go ahead with the campaign. the most powerful storm in decades is heading towards eastern china topical storm a move for high winds and to wrenching rain causing huge disruption over the weekend more than three hundred barrels of the evacuees to safety around shanghai thousands of homes were left without power in south korea as the storm brought down power lines and trees its effect to reach western parts of north korea by monday.

i'll be back with a recap our top stories shortly but first the latest business days earlier. hello and welcome to business here on artsy global markets have been under pressure for weeks spot have now reached a sudden crescendo and asian stock markets continue to slide with exchanges and tokyo hong kong dropping its wien to end four percent russian markets have opened sharply lower following losses in asia let's now cross live to ickes sara firth who's at the headquarters of the r.t.s. stock exchange. now what can you tell us what's the sense of it in the market right now. well we through the russian market they've been doing in negative territory this morning that was not expected after the decision by standard and poor's this weekend to downgrade the u.s. from its aaa rating down one notch now the russian markets are currently tracking

the asian losses we've seen r.t.s. and might take a dropping around three percent in the last hour another key leaders being the oil and energy majors are rough not look or oil and gas crawl we've seen invested get is about the economic situation in the u.s. and in europe at fishing the price of food all down even lower however there are still some stocks today trading in the black we've seen gold prices continuing to rise as investors are looking for a safe place to put their money but certainly a large amount of uncertainty remains waiting to see how this plays out now we've heard from the deputy finance minister the russia has no plans to alter its investment policy the u.s. downgrade that we've heard from other honestly because this is the first time in the u.s. history now that if you see this downgrade certainly a blow to his reputation offensively going to cause a lot of concern amongst investors and some people despite that downgrade as

a wakeup call the u.s. well as investors of that decision stance really we could see increased volatility in the global markets continuing this week and here in russia of course. the russian markets have actually minimize their losses slightly and they're losing about two percent this hour so maybe the losses won't be as recover some song friday well thank you very much for that report well let's take a look at those markets will start with gold which has a fresh from her house investors trying to asses what all from us for us both us out of over forty dollars per ounce while silver is gaining a dollar fifty there so. look at oil prices the bay are lower following the downgrade all the world's largest oil consumer there's no confidence in the market and investors are concerned over future the mad for crude both light sweet and brands are losing over its suit dollars this hour. i mean asian markets are in

negative territory banks are not simply lower and exporters are also on the pressure amid worries about future the mandan all of this is of course the result of what's happening in the u.s. and europe prints and market jitters. all here in moscow as we just said both the markets are open and they are in the red both the arts yes and the why psychs are losing just over two percent this hour. but a western from athens says with a downgrade monday is inherits the last weeks here. this week we're back in business again and people will be looking at the new news flow of the data flow extremely closely because the markets are extremely volatile and there's no conviction for any sort of strong recovery in my view the situation there were problematic class read are still problematic this week so any improvement in data will you know support the market but it could also be

a very short term advantage looks like we could have the dow falling to eleven hundred i think without any problems. and that's all the business news for this hour for more stories you can always try out our websites r.t. dot com slash business in the meantime statesman for the headlines without us.

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