fever across the u.k. overnight leaving a trail of destruction smashed windows looted shops and thousands of cars on fire in a number of cities all sparked from what was initially a peaceful protest over a police shooting in south london as ivor bennett is following the story there's no guarantee things won't flare up again tonight like they have done the last three nights because last night certainly in several areas of london the police simply didn't have any control whatsoever the word to describe it is lawless he was complete mayhem in places like ealing in west london clapham in southwestern croydon in the southeast where it was widespread looting buildings and vehicles being set on fire and when i say the police didn't have any control for example in clapham they weren't there for over an hour and the looters and the use had to have the free run of the main department store there for well over an hour and all the shops in the main high street were smashed in and just and around santa really and . now people were just taking what they could mobile phones trainers and things

like that and there has been. some real shock by residents in that area who are speaking to me last night saying how can this happen here that's quite an affluent suburb and they thought they were out of the trouble they're. in thing they would be affected but it just so nowhere is safe at the moment from this trouble because last night the police and we didn't have much control there has been some criticism of the police last night they had six thousand police officers on the streets tonight they get to that and so the hope is that will get things under control but that already all the police cells of those in london over four hundred fifty arrests have been made and so it's being taken out of london to cells of the free in areas outside of the capital. as i say they're going to bring in more police officers to the. situation under control for more on the possible causes of these riots in london here's my colleague laura emmett who is in east london last night.

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 few signs of abating in fact it spread further around the city to head in east london and hackney where writers set fire to cars and tried to break into more shops meanwhile terrified residents of london could do nothing but no call the 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 and golfing north east and south london in enfield wages looted shops making off with whatever they could carry in nearby edmonton a man with south in brixton riots has threw rocks at police and in tottenham where it all began the high street is a burned out shell the police the job center all the banks 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 our source straight from america you know and it it just sad that it's the 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 draw a tinder box and all the london boroughs have long been simmering with resentment towards the police towards social injustice and towards unemployment this is a community which is a fantastic precious farhad levels on a ploy moment than losing their lives and services youth clubs have been closed those never an excuse for violence the community was attuned to pull. the war isn't concerns of community about the death of this. question as

a former 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 saw violence has become a victim of what prime minister david cameron is now calling failed multiculturalism this. charm of the groups. these groups. you know that. are you. know racist. but. you know something should be done unless these gangs of youths tire of the violence there doesn't seem to be a real reason why this looting should stop it's unlikely the perpetrators have 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 on 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 feeling is and with the cuts in government spending looming over the next few years the situation is very unlikely to get any better nor at its height in the east. there a live update on the chaos in the u.k. on our twitter feed at our underscore kong here's the latest tweets from our correspondents working at the scene. along the riot but without briefing on measures they can use they'll still be hamstrung driving through london riots armored vehicles deployed on street yelling and he. can also you can log on i

should say to our twitter page at r g underscore com and keep an eye on the best videos on our you tube channel about the day. british prime minister david cameron has called the riots pure criminality speaking after a meeting of the country's emergency committee he promised that looters will face the full force of the war but the telegraph's andrew gilligan was one of many caught up in the war with. i was mugged i was pulled off my bike and my bike was

stolen by. i spent most of the day in scotland which is where it all kicked off interviewing people who had lost their homes as a result of these riots and they are 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 they blame the police for not being quick enough to contain the trouble in tottenham in the first place and quite clearly what's happening in hackney and. croydon and all the other places where disorder has broken out tonight there's absolutely nothing to do with the police shooting of a man ten miles away in north london it's purely up it's purely opportunistic it's not anger at all i think it's pure criminality and people are taking advantage of what they see is a lawless situation and and overstretched police force do their worst and help themselves to free goods and the trouble is it spreads very quickly this kind of thing we've seen it in fact in the arab. we've seen 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. instant messaging 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 faster than 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 perhaps even more. but we want to know what do you think on our website r.t. dot com we're asking what's the driving force behind the bryants in the u.k. so far the majority blame it on the struggling economy and the failure of multiculturalism in europe others believe it's criminals trying to grab anything they can and the brass think it's the result of heavy handed policing i'll join the discussion have your say drop us a line at r t dot com. now from the crisis on the

streets of britain to the crisis in the global markets now european shares have plunged as the central bank chief warns the region's financial system is in the worst crisis since world war two that's despite the banks starting to buy government bonds from spain and italy to prop up their struggling economies our europe correspondent daniel bushell has the details. this is becoming a blog last week was the worst for. you yesterday became known as black monday plummeted today has become even worse and even the cheerleaders for the euro or depressed. the european central bank said this is the worst crisis since world war two and it requires quote unconventional measures now central bankers the famous for their calm for being reassured and when you hear someone like that coming up with such radical phrases you want the investors and the markets upon making. he

had hoped the european central banks boy up of spanish and italian beds which no one wants to touch at the moment would help but it hasn't as you can see the reaction on the stock exchange is experts actually fear what the e.c.b. is doing is only bringing defaults closer it's forcing a huge states to slash spending less money going in to create jobs and build things when really the only way out of this crisis is for the countries themselves to grow their economies which means putting more in spending more on the economy and creating new jobs now barack obama has consulted with the heads of spain and italy which are the latest countries to join this euro storm now economist warned that the united states has a common problem with the eurozone they both have unsustainable bets with no real plan b. and as our correspondent alex a euro ships reports new countries are being put off from joining the euro. while parts of europe have been teetering on the edge of economic abyss poland 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 that we join the euro zone 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 polls aspired to this they wanted their country to join the euro now the name of the euro has been sullied by the troubles in greece and italy poles don't want to be dragged into this crisis if the government forced the euro issue to try to bring into the euro zone. 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. they need for institutional changes. in. governance of euro zone.

crisis management. for euro zone before. target date. set up the game has changed and the euro club everyone once wanted to join may now be the invitation no one wants to accept. warsaw in poland. well our business desk is keeping an eye on all the latest developments on the global markets to me that means it's in charge of that daunting task today the russian market still dropping in view of this global financial turmoil turmoil aren't they well in three words yes they are i mean they have been dropping since last tuesday so that's another that's five sessions in a row now and you'd think that monday's drop of eight percent on the. more than five percent on the my six you'd expect some kind of correction but it seems right

now panic has really turned into fear fear of investors whether politicians in the united states can do at least something to prevent this turmoil from unwinding even further so all eyes right now on the fed meeting with fed chairman ben bernanke he will be making an address giving some kind of hint whether the united states will go ahead with the first wave of quantitative easing that is printing money to buy back as they bourne's. most investors have been reading up and interviewing say that this is a done deal pretty much the fed might be very careful in its wording although it doesn't the stand pretty much that something needs to be done to calm the markets down because the dow jones and the s. and p. saw a very massive drop yesterday right now futures are looking positive however but the russian market is still down five percent in the r.t.s. two percent the mice are right now everybody watching closely and we'll be listening closely i should say to what bernanke has to say later today will join us

shortly for more details in the business world thanks for that stock markets like i do mean there was saying in the u.s. or in freefall true they've seen the worst drop since the crisis of two thousand and eight president obama insisted the u.s. economy was still solid despite standard and poor's downgrade of american credit but it looks like his insurances have so far failed to calm that stores are doing important as across the latest in new york. market reaction to the historic downgrade of america's credit are sure it 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. on

a more positive note asian markets recovered some of the early losses suffered due to uncertainty over what's happening on wall street and india's finance minister expressed confidence in his country that they country can weather the economic storm and attract investors economics professor chin tangata says the potential flied at the price of commodities could actually work in india's favor part of their initial sell off was was panic and i think the panic responded to the downgrade in credit worthiness of u.s. treasury bills after the initial panic his has outlasted i think investors realize that emerging markets like india have strong fundamentals they have strong structural reasons going into the future such as a positive demographic trend high savings in investment rates the medium term growth outlook for india looks robust it's in the eight point two to eight point five percentage range and the strongest indicator for a debt g.d.p.

ratio is strong income growth something that the european union doesn't have that's something that bodes well for the indian economy there are other things as well if there is a recession in the world as is being talked about that's going to reduce the price of oil into imports a lot of oil so that's going to reduce its import bill there are other factors if there's an expected depreciation in the value of the dollar in other words of the dollar weakens and if india's rupee therefore strengthens views of you the dollar it's important it will go down as well the risk is somehow whether india can finance its current account deficit because of the general climate of risk aversion in the economies that investors are less willing to invest in emerging markets how does india continue to finance its current account deficit. it's coming up to twenty minutes past the hour a look at some world news in brief for you the head of libya's rebel movement has sacked the entire executive committee which functions as a cabinet it follows the assassination of the commander of opposition forces last

month members of the national transitional council libya's highest rebel off already support the reshuffle saying they hope it will and you crisis in their ranks. hotel maid who accused. of sexually assaulting her has filed a civil suit against him he sought to do ya low accuses the former i.m.f. chief chief of launching a violent and sadistic attack against her when she arrived to clean his manhattan hotel suite in may and has pleaded not guilty to the charges and has been released on bail amid doubts over the mate's credibility. and former soldiers have turned themselves into face charges they killed six priests and two other people during el salvador's civil war former defense and vice defense ministers are among the defendants they were indicted in spain under its international jurisdictional law to prosecute the killings of the priest most of whom were spaniards salvador will

now have to decide whether to extradite them. to grant is canceling evacuation orders for some areas around the crippled fukushima nuclear plant officials believe the risk of exposure to radiation has fallen in the zone beyond the twenty kilometer radius about twenty five thousand people were told to leave their homes in case conditions at the plant worsened after the double tsunami and earthquake in march. syria's neighbors are increasing pressure on the government to end the ongoing crackdown on protesters several arab nations have recalled their ambassadors from the country turkey has also joined the growing chorus against president also demanding an end to the violence but it comes as. government forces intensified the assault on opposition strongholds with tank and artillery fire more than three hundred people have reportedly been killed in syria over the past week the bloodiest in the five month uprising against the regime earlier pledged

democratic and political reforms which he says will take time to implement well political analyst patrick hayes believes the president is on the verge of stepping down from power. plumping 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 so powerfully but even so in a very tired way there is a sense from assad really 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 party as the only guarantors of syrian stability but is now talking about major constitutional reforms i mean 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 he seems very toys that he 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'll meet the same treatments that some of barack is now seeing. you can also get the latest updates videos and blogs on our website or to dot com here's just a small taste of what's lined up for you today belorussian activists forcing a revolution through social networks find out what behind quiet of silent march is aimed at fighting fear and bringing change. and they believe they could fly thousand looked on from the banks of the moscow river as a colorful a ray of homemade flying machines take briefly to the skies you can find out more into some great pics of that at our dot com. business is next

to me three. hundred saloon welcome to business and see emerging markets plunging to their lowest levels in months bumble cocktail of a u.s. credit downgrade and the eurozone debt crisis that's prompting a broad selloff on financial markets russian equities are among the worst performers are still in a freefall this hour so first reports from the headquarters of the stock exchange. well it seems to just keep getting worse here a 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 own great situation in the u.s.

and throughout the year you say has continued to weigh down on the oil prices and that's really having quite an impact on the oil and energy mages here in the country and now we see the markets reacting to the standard imposed decision over the weekend to downgrade the u.s. one notch of it 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 to post to the fact that the take for we still the european central bank going to prop up its sleeve 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 aren't necessarily buying that there's still a lot of uncertainty here and we think that continuing today is being said volatility and turbulence really remains the name of the game. so you look at the markets now

and latest figures. did drop more than eight percent today but it's come back since then almost five percent dropping now my sixty two percent that's after the worst session since two thousand and eight which was on monday take a look at what's moving the mice and energy majors up top loses gas from both deep in the red bucking the trend this precious metal mine upon the matter was getting around two percent by the record high gold price we'll look at them in the second european markets also rebounding from the lows low. the footsie is actually now up by a notch when it did fall below the five thousand point mark the first time in over a year this is ahead of the opening of the u.s. markets which is pointing positive right now ahead of the fed meeting which is crucial for investors at this time gold has hit yet a new record high the second day in a row investors are looking for safe haven options of course silver ever is coming

down two percent. and oil prices are down to the lowest level in more than eight months prices said fifteen percent since the beginning of august way by fears that the economic recovery in the u.s. has hit a rough patch then a pause downgrade of the u.s. debt alone prices down six percent on monday. russian ruble is reflecting what's happening on the oil market has fallen to a seven month low versus the dollar is currently hovering just below thirty roubles to the dollar analysts are suggesting that the russian government now needs a managed devaluation if we see is a. decreases the price of or bribes it is not. even by the price of one of those. so the government should find out some ways to finance is that is the end. amount of social obligation so if you can do a little maybe you thirty or thirty one. gives

a budget maybe ten fifteen percent of additional. income and he says next with the headlines you say that if you get.

emission free critic a should three times for charges free. range month free. three stooges free. download free blog just some of the video for your media projects a free media oh god r t dot com. at

four thirty pm moscow time these are the top stories on our c outnumbered and beleaguered police struggle to restore order in. british cities locked in a spiral of violence and looting over five hundred people have been arrested after riots the british prime minister called pure criminality. europe's top bankers says the continent is going through the worst financial crisis since world war two the turmoil has already come to some nations to halt plans to join the once much desired euro currency club. the european stocks are volatile following the biggest slump in the u.s. for years caused by fears the downgrade of america's credit rating could worsen the slowdown of the world's biggest economy. now with the current financial turmoil in the us and europe talk about a new global reserve currency is mounting.