situation. in the east london where the streets are full of police i'm told the streets are full of rioters i believe it is just about a hundred meters behind me a car is on fire the hair is full of i quit smoking you might be able to hear the police helicopters circling above me as police try to get control of the situation there are about one hundred fifty people in the street just around the corner we went round there but we judged that it was too dangerous to stay and it's not just here in hockney there has been violence in brixton big parts of florida on fire and we're hearing that the violence is also spreads writes to forming that there are all sorts of people on the streets but it is a big perpetrated by ethnic minorities that has to be said about arrests and this is certainly the worst violence that we've seen so far it hasn't been confined to the hours of darkness at this as i say has been going on for three nights so i mean business makes the parts of london that had soup are being affected and here's my

report from. london's burning rioters and police take over the capital for a third night as target yet more areas of london in a spiraling cycle of violence on monday night the violent shoot a few signs of abating in fact it spread further around the city center here in east london in hackney where rioters set fire to cars and tried to break into more shops meanwhile terrified residents of london could do nothing but no cordon police seal off the streets and treat whole areas as crime scenes with local communities trying to come to terms with the wave of looting engulfing north east and south london in enfield looted shops making off with whatever they could carry in nearby edmonton a man was stopped south in brixton riots as threw rocks at police and didn't tottenham where it all began the high street is a burned out shell the police the job center are the bang. everything that's

happening the recession you know there's a lot of anger about that no jobs nothing for the youths to do so yet. you know and it is sad that it's not it's the poor people that's suffering it was sparked by the fatal shooting by police of this man mark duggan tottenham once on says about why and how he was killed but his shooting was just the spark in an exceptionally dry tinder box tottenham and other london boroughs have long been simmering with resentment towards the police towards social injustice and towards unemployment this is a community which is fantastic precious by how levels of unemployment then are losing their lives and services he is clubs have been closed there is never an excuse for violence the community was attending. the war isn't concerns and

complaints about the death of. questions are far tottenham has one of the highest unemployment rates in london particularly amongst the young black people are far more likely to be stopped and searched by police than whites and together with hackney brixton walthamstow and lewisham which also still violence has become a victim of what prime minister david cameron is now calling failed multiculturalism this. powers are so many groups. these groups. you know that. i do not. know a racist. but. you know something should be done unless these gangs of youths tire of the violence that doesn't seem to be a real reason why this looting should stop it's unlikely the perpetrators who. jobs

to go to and school's out for the summer london residents fear more unrest on the streets in the coming days the losers aren't making a political point and hardly anyone in these communities supports them but many are saying that there actually is a political point that social integration in parts of the country is deplorable social mobility is nil and the relationship with the police is that bad as it's been for years and with cuts in government spending looming over the next few years the situation is very unlikely to get any better. in the east. well a team of our correspondents is currently in london bringing you the most recent updates on the situation on our twitter account you can follow all the developments there on the twitter slash r t underscore com call brother british committee that deals with the national crisis in the wake of recent developments the home secretary ruled out the use of water cannon he said the military presence meanwhile

police have so far arrested over three hundred people again you can log onto or to underscore call. with police stretched beyond their limits looters some as young as fourteen have been clearing the shelves of abandoned shops andrew gilligan for the british newspaper the sunday telegraph was just one of many victims of the violence i was i was mugged i was pulled off my bike and my bike was stolen by. on the way to the studio about forty five minutes ago i spent most of the day in scotland which is where it all kicked off being people who would lost their homes as a result of these riots and furious with the writers they say that what happened to mark duggan the man who was shot by police is absolutely no excuse at all for what happened to them blame the police for not being quick enough to contain the trouble in tottenham in the first place and quite clearly what's happening. croydon

and all the other places where this order has broken out tonight has absolutely nothing to do with the police shooting of a man ten miles away and it's not i'm going to i think it's criminality you are taking a bone to edge of what they see is a lawless situation and overstretched police forces to do their worst and help themselves to free goods. very quickly this kind of thing we've seen it in fact in the arab world we've seen it social media spreading unrest in the arab world probably for the good there but here it's spreading exactly the same way arguably for the by. lots of. blackberries and instant messaging and twitter and all the rest of it spreading the word about where the next rock is going to be and they might be able to move from austin the police i think perhaps i mean if this carries on like this it is quite worrying to seem to be breaking out in four or five different parts of london i can share your opinion of the u.k.

riots by participating in our latest poll just log on to our web site r t v dot com to contribute to today's topic and we're asking you what's the driving force behind the u.k. riots well so far the most popular response is the dismay over the economy a quarter of you say it's the failure of multiculturalism and some of you think that criminals are good for profit as well as heavy handed policing are to blame. moving to america now or the stock markets or a freefall as investors rush out in reaction to the u.s. losing its aaa credit rating and that's despite president obama's speech in which he declared america was still an economic powerhouse or port ny has more now from new york. market reaction to the historic downgrade of america's credit are short in the worst day on wall street since the two thousand and eight financial crisis all three major u.s. stock indexes plummeted between five and seven percent on monday now all of this

coming just after standard and poor's downgraded the u.s. credit kicking america out of the triple a club this is already creating a climate of uncertainty or increasing this climate of uncertainty and lack of confidence among investors when they look to the stability of the u.s. economy now the u.s. president barack obama of course tried to inject some optimism into the public and into the markets on monday saying that america has been and always will be our aaa economy he says that washington's problem is not a lack of policy or plans but a lot of lack of political will and he says many lawmakers have been insistent on drawing lines in the sand and now it is urgent for all parties to come together to come up with a long term approach on how to reduce the deficit in the u.s. the u.s. has a debt of fourteen point three trillion dollars and growing and at this point many

investors as we saw on monday are selling now and asking questions later clearly the markets have not been reacting favre favorably to the fact that standard and poor's did downgrade america's credit for the first time ever in history well later we visit one american city that highlights the devastating consequences of an investor retreat once a buzzing urban suburban area is now an abandoned with more than half of the population running away from national despair. asian markets have been hammered amid fears the u.s. is heading for a recession but india has real. acted with optimism saying it's ready to implement a reforms to encourage domestic consumption and withstand the economic struggles are bringing us the latest on the financial situation in asia from new delhi. asian

markets have been tumbling in reaction to the latest news of the aston p. downgrading of the u.s. economy but actually many politicians and many analysts in india think that this country will only be affected in the short term by what's happening in that they're actually better equipped than many western countries especially your p. in countries to handle what's going on in the united states we have indeed finance minister pranab mukherjee coming out and saying that this is only going to be really a short term impact analysts are thing that the bric countries will in the long term be last the fact that by what's happening in the united states that actually if investors move if they continue on this risk aversion path and move away from u.s. treasury bonds they might actually feel more comfortable investing in these emerging markets like china and india china has taken a much stronger stance on what's going on they've called the u.s. . bait immoral and irresponsible and they're saying a chinese newspaper recently said that the united states really needs to move away

from borrowing its way out of its messes but india on the other hand has had more of an optimistic response to what's going on in china and they're really hoping that in film way they might be able to benefit from all of this. of course artie's business desk is keeping a close watch on the world's markets us cross over to marina now so how were a russian stock markets responding this hour also so there was a sign of a rebound earlier in the day but the markets have since nose dive deep into the red and the arts yes actually moves in six percent this hour oh my sex is down four percent but we have all the latest figures for you in our business bulletin later in the program. very shortly thanks very now. of the european stock markets are plummeting on tuesday after a big falls in asia and the u.s. and as a euro zone members join forces to save their common economy one

a new state is happy it isn't bailing out the single currency poland was supposed to adopt the euro next year but those plans are now on ice with eager to stay out of the crisis. reports. rioting in greece from the country's economic crisis were felt across the european union shaking international markets worldwide while parts of europe have been teetering on the edge of economic abyss bolen has remained stable in the storm along with this currency. there is a widespread belief in the country that being outside the euro has helped keep poland out of trouble. if we were part of the eurozone then we would have been obliged to help countries like greece and portugal how can we help out someone else without solving our own problems it's almost guaranteed that prices would go up. which would damage my business recent opinion polls suggest that more than sixty percent of balls want to keep their own currency a dramatic turnaround from just

a few years back a few years ago the euro was seen as the euro club was seen as something very exclusive. they wanted their country to join the euro now the name of the euro has been so. by the troubles. greece and italy polls don't want to be dragged into this crisis if the government forced the euro issue try to bring. it could be political suicide poland has fared much better than many of its e.u. partners in the global crisis several countries like greece ireland and portugal are on the brink of disaster partly due to a boring binge allowed by your membership and associated low interest rates being outside the euro zone meant poland could not join the party but now it does not have the hangover poland was meant to have the euro by next year the time when the country is co-hosting the twenty twelve european football championship but with the

latest developments these plans may be shelved for another four years e.u. rules say poland is obliged to adopt the euro once it meets the economic rules for joining but polish politicians are now much cooler on the idea with minister saying the eurozone needs to get its house in order first place very important for us. the need for institutional changes. governance of euro zone. crisis management. for euro zone before. target date will be. set up the game has changed and the euro everyone once wanted to join may now be the invitation no one wants to accept.

now let's look at some other top news from around the world the leader of libya's rebel movement has dismissed as executive committee and response to the killing of the opposition military chief last month members of the national transitional council this libya's highest rebel of forty support the reshuffle they saw the move was in response to the incompetence surrounding the general's protection and subsequent death meanwhile nato airstrikes continue in tripoli the ongoing civil war in libya started over four months ago with nato forces joining in march. the hotel maid who accused former i.m.f. chief dominique strauss kahn of sexually assaulting her has filed a civil lawsuit against him enough he sought to diyala who is seeking on specified damages claim she was left humiliated by the ordeal was detained in new york back in may and was originally placed under house arrest well he has pleaded not guilty to the charges and has since been released on a one million dollars. the united nations refugee agency has airlifted

humanitarian aid into the war torn capital of somalia for the first time in five years it comes as the country battles with a devastating valve it caused by the worst drought in sixty years well the first of three planned planes delivered tons of emergency supplies including shelter materials the shipment was made possible after a local islam was groups who earlier prevented a deliveries pulled out from mogadishu more than twenty nine thousand children under the age of five have died in the last ninety days in southern somalia alone. now syria's neighbors are turning up the heat on damascus to end its crackdown on protesters saudi arabia kuwait and rain have recall their ambassadors from the country and turkey's foreign minister has also arrived in syria with a quote tough message for president assad this comes as government forces. are stepping up their assault on opposition strongholds with tank and artillery fire more than three hundred people have reportedly been killed in syria over the past

week but bloodiest and a five month uprising against the regime all asada earlier pledged democratic reforms which he claims damascus needs more time to implement political analyst patrick pace thinks the president is on the verge of stepping down from power. clamping down on freedom of speech and freedom of expression which is the cornerstone of any democracy is not sending out a message to the syrian people that he can be taken seriously or trusted in his promise is a tool of diplomatic consideration is no largely absent in assad's regime they're clinging on. but even so in a very tired way there is a sense from assad really that the ease by which he started to say this is the end of single party rule and he will start to think about elections and the way in which he previously portrayed himself and his polity as the only guarantors of syrian stability but is now talking about major constitutional reforms means that

really there's a real uncertainty about what he's trying to do there very isolated they don't really know where they go into a kind of stuck between a rock and a hard place they don't know what to do but the sense i get from assad is a seems very tied that she almost willing to relinquish power at the moment but i think there's a reluctance to want to relinquish power because i suspect he is very worried he will meet the same treatments that some of barack is now seeing. more news on syria for you on our website r.t. dot com along with the latest updates videos and of blogs and here's a taste of what you'll find there right now the so-called hacktivists have carried out an attack against the syrian regime by hijacking the country's defense ministry website. and have a secret tapes of jackie onassis sharing who she felt was behind her husband's assassination have been on earth and will soon be released to the public.

now american financial struggles have left many wondering how much worse things could get in the future but for us towns already going through economic hardship a new blow could be too much to handle an associate shark and i visited one such city. this is america's ghost town. just twenty five miles from downtown chicago gary indiana dubbed the symbol of urban blight by some compared to post evacuation chornobyl by others there's a sort of feeling that really is. very depressing. when you see something like this in this kind of condition to just continue to. continue to fall apart this is the city methodist church built in the one nine hundred twenty s.

first a place of worship leader a community center it is now at the forefront of gary's decline we used to be a symbol of architectural might and brought the people of gary together is now an enormous space filled with ruins where the only form of life for the pigeons that flying through the walls and the ceilings urban explorers historians and architects are saying that the chances of this place ever being rebuilt are close to zero so it looks likely that this place as well as many others throughout gary. on their way to completely seizing to exist. founded by u.s. steel corporation in one thousand and six the town of gary once blew into it manufacturing jobs but competition from overseas led to a ninety percent cut in the workforce the one industry urban center came crumbling down once the steel plant. suffered its loss of thirty thousand jobs. that meant that the population would grow smaller that

revenues for the city would go down and so that accelerated and sort of snowball gary's population has been cut by half as many fled in search of work it is now almost exclusively african-american over eighty four percent up to one third are poor in one of the top ten most dangerous cities in america twenty nine allen has had no work for three years there's really no right job opportunities here. you know the pay is what you're looking forward to but then again. nothing here in the downtown area is now no town the main commercial street and urban desert door shut windows locked mom and pop shops abandoned the two growth businesses are strip clubs and. truck stop meeting places city hall stands right across from a former hotel a haunting sight during dairies he clears places like this would become

a temporary home for out of towners visiting this place the hotel is now deteriorating there are no windows left and the police cars outside making sure squatters don't get in there's no other hotel left in this town there are no investments flowing into this area nowadays instead there's only hopelessness building up it does two things it makes me sad maybe piss me off but it's like it's like. well i think it would be best if i relocate you know the way i see it anywhere is better than here another. very bright but legally there is not much to be found elsewhere either well gary is the symbol of collapse industry has been dying all across the u.s. promises of a manufacturing revamp are all the rage while places like this are being a racist from a map of america and. gary indiana will have more of the day's news headlines in our special report coming up but first this the business news with marina.

hello and welcome to business here on artsy emerging markets are plunging to their lowest levels in months the talks a combination of u.s. credit downgrade and the euro zone that crisis is promising a broad sell off in financial markets russian stock exchanges were among the worst performers on monday with the arts yes there's an eight percent and the my six over a five percent well that's not cross live starts the self-worth goes up the headquarters of the arts yes stock exchange hello to sara now bring us the update for this hour. well it seems to just keep getting worse harris second day of losses safe following a disastrous day of trading yesterday russian markets continuing today's dive hit with thing much the same story across the european markets as investors a dumping never discusses looking for a safer place to put that money you know what was think particularly affecting

russia is that this oh i'm going situation in the us and throughout the year you say has continued to weigh down on the oil price is not really having quite an impact on the oil and energy mage's here in the country and now we've seen the markets reacting to the standard imposed decision for the weekend to downgrade the u.s. one knowledge of a aaa rating that's really had a very negative impact in interventions by the political leaders that we've seen to try and stabilize the market haven't had the positive effect that was hateful we saw the european central bank going to prop up its lead in spain and step in that to stabilize the situation president obama trying to calm the markets calm investors by saying that he still considers america aaa rated country whatever the ratings agency may has said but investors are necessarily buying that there's still a lot of uncertainty with thing that continuing today is being said volatility in

turbulence really remains the name of the game. all right thanks for the update now let's take a look at the markets and the latest figures and russell there was a sign of a rebound thought it was short lived r.t.s. is down over seven percent while my sex is losing almost five percent this hour let's have a look at the individual sir moves on the my socks and there are two majors are the top losers are also left are both deep in the red gold producer paul whose gold is also trading and negative territory despite the gold prices surging through record time. i will tell you about those in the second let's take a look at european markets they have reversed their earlier gains then are heading south the footsie fell below the five thousand point mark for the first time in over a year the footsie is now losing three and a half percent while the dax is down almost five percent. in asia stocks closed in the red after the sell off on wall street's hang sang lost more than five and

a half percent and among the worst performers were banks and x waters bank of china was down over six percent and so only lost over one percent. gold though has set a new record high for the second day in a row as investors look for safe haven assets but silver is making losses that's now losing two and a half percent it's a different picture though with oil prices are down to the lowest level in more than eight months all prices have shot fifteen percent since the start of august whereby fears that the economic recovery in the u.s. has hit a rough patch of them poor's downgrade all of us that alone sent prices down by six percent on monday. all major b.p. is taking this russian shareholder and that's ventured seeing k b p two courts or sunday live reports that b.p. has charged one of its russian partners run of a group of breaching the shareholder agreements under the agreement b.p.

shareholders must include the others in any ventures in russia and ukraine run the hall which holds twelve and a half percent seeing to b.p. shares is currently operating its energy assets in both countries alone for its part when the us says it's ready to defend itself in courts to b.p.'s russian shareholders have earlier blog the shares will deal between b.p. and also left. and that's all the business is for now the headlines are next with tessa.

bringing you the latest in science and technology from the ground floor should. we dump the future or covered.

welcome back again here's a recap of the main stories we're covering today on r.t.e. britain is on a full scale alert scenes of violence and destruction of london after three days of clashes between rioters and police the prime minister has cut short his holiday to hold emergency government talks on how to deal with the mayhem. stock markets are diving after wall street hits a low not seen since two thousand and eight as product investors abound in global stocks the deepening euro crisis is fueling antagonism towards the single currency . america's latest economic slump despite a public message of defiance from president obama but as the u.s. credit downgrade triggers a freefall on global markets india claims its economy could actually benefit from the situation. coming your way next we'll look at what south such insight.