credit school has taken a knock financial ratings than standard and pools has downgraded the country by one notch deepening the euro zone's economic the agency also gave a gloomy forecast for the country the belief he gets out of trouble italy's prime massively about escapees criticize the decision calling it out of touch with reality what s. and p. said its meat was prompted by italy's weak economic growth and fears the government will fail to deal with its huge debt despite parliament we simply passing out. well this downgrade now means it could be more expensive borrowing money to pay its creditors meanwhile. the us has been given an ultimatum by you and i.m.f. officials and fools deep cuts if it wants to avoid going bankrupt next month. is a need to wait until october before ruling on whether to release the next eight billion bailout but economy fame or status measures as well. the reason that s. and p.

gave for the actual downgrade from what from a plus to a minus was the blue tickle situation is unstable well when has it never been unstable in italy i think as abuse picking on italy now. and you know it is no other agencies are downgraded i'm sure they're there to their political situation is is is it in flux i suppose it will get a fire under them to resolve their political differences but austerity is not the way to go the europeans are being run by unfortunately the german banks and the german banks are crying austerity you don't need a staring at a time like this you have to inflate the economy you have to create more money you cannot cut back and so unless you're being specifically the germans stop insisting on austerity for everyone yes it can get much worse. what is least credit rating downgrade is another blow for the already weak euro zone that's cause

live now to our business desk to find out the financial world reacting to all of this news you know what is going on with the markets despite standard and poor's downgrade of a to its credit rating yes the european markets are seeing a bounce and choose day trading and at the moment the german dax is nearly two percent up london's fitzy one point three percent higher and alistair saying the positive sentiment is due to investors bargain hunting and they say investors are having lots of cash and although most a very very cautious seven is shifting their cash into new opportunities that are popping up amid the turmoil but the overall sentiment is of course negative because italy is the use third largest economy and this downgrade will have a long term impact of this and we'll get a better idea of direction with german economic data out later today as well as of course the fed interest rate meeting which is on wednesday well back to you for the

moment alex ok many thanks for that of course we'll hear more from you in the business bulletin in around twenty minutes time bye for now. over to the u.s. now and president obama has laid out a plan to copper deficit and revive the economy with the wealthiest americans expected to pay more he said big earners and corporations. so that everyone should pay a fair share lining roughly three trillion dollars in savings upon explicitly promise to veto any debt reduction legislation that cuts benefits or failing to include higher taxes on the rich but republicans have described the bomber's approach as class warfare libertarian economist lou rockwell believes the president's plan targets the wrong people. we're getting poorer and it's absolutely true that government connected rich are getting richer so what do we do about their do we punish businessmen who are crude. jobs and creating wealth and making things better

or do we take some of the stolen goods away from the people in washington away from the oligarchy away from the ruling class i think that's what we have to concentrate on not let the guys at the top which you know but who obama is working for against soros and buffet in these kinds of guys not let them try to focus our attention on hating the guts of a guy on as a bunch of the subway sandwich shops he's not the problem he's the solution it's the bankers and all the people who've got rich wall street a military industrial complex big pharma it's these kinds of arms of the corporate state that are getting rich far too rich and you know they need to be cut back come back cut back government that's what we need to do and it's heritage economists and evoke while that israel has also to hold die right tools for the palestinians in new york is tennessee attempts to halt president abbas's ambition to win u.n. recognition the us old fellow opposes the page and there's been intense diplomacy to that crisis and even these honest if it's just you know reports on the count if

it's russia taking to see the palestinian plan a three. russian foreign minister sergei lavrov held an urgent meeting with the u.s. secretary of state hillary clinton now members of the delegation are telling us that even though this is a closed door meeting the assumption is that lavrov and clinton were negotiating the future of talks on the israeli palestinian relationships a palestinian bid for statehood at the united nations security council is really stealing the show this year we know that palestinian leader mahmoud abbas is expected to present palestine's bid for recognize statehood to the u.n. secretary general ban ki moon in the next days to come and this is something that we know israel and the united states are really not favoring they have been calling for the whole to negotiations between israel and palestine to kick start again on a bilateral level this is something that palestine is already seems to be tired of so it is taking these specific actions to try to get its state recognized within

the within the international community so an extremely busy week lies ahead at the united nations of course often the highlights of the week become speeches of world leaders addressing the general assembly hall and this year is promising to be no exception for a look back at some of the more historic moments that have taken place throughout the last two years let's now go to our report if only these walls could talk. take a pumped up wow factor and center stage drama would be their story every year for about ten days the united nations becomes a mecca for world leaders from the confrontational to the surprising to the out right the u.n. jeep pilgrimage never fails to impress what happens right here becomes a mirror image of what i mean gauging game politics can be over a hundred in one thousand members make up the general assembly to get attention leaders have to get creative if you want

a lot of the tension you could try to like streak the united nations nobody nobody has come in but naked. with a goat on their back i mean so far none of this has happened but i wouldn't rule it out in the future that's one of few tricks that have not been performed here yet i think the one that i remember the most i mean there was cut off the witch who i guess will never be back here again so it becomes memorable becomes it's a collector's item now his long speech and tearing up tearing up the u.n. charter and falling asleep so we have just taken your course you're out of corn is alive you are trying to get out because this is good the constitution comes from the record holder for speech length and indian envoy in the fifty's nobody remembers what he said but they remember that he went on for eight and a half hours exhausted the diplomat collapsed at the podium only to return and carry on the un is really owned it's owned by its member states so it's not really anyone's role to you know be kanye west and grabs you know you've got to when

they're up there they can go as long as they want they can also see whatever they want and accusations often go flying towards the us yes then i came here. thank you. reggie here and it's made as a sapphire still today and from the us the greatest obstacle to this future is that your rulers have chosen to deny you liberty and the media obsessed with creating legends out of these performances people who have firm she could be clad carla bruni becoming a headliner for the simple act of showing up to sob yet leader nikita khrushchev's right now legendary banging his shoe against the podium a grave for colonial slavery that should be buried deep the better half a century later the story is rumored to be a favorite among tourists visiting the u.n. the soviet leader so on says the episode is a legend as the shoe banging is never captured on video.

over the. whole. that you can believe in. to showcase word as deed officials pull out so-called facts sparring accusations backed up by wooden seal. the need to invade iraq by nonexistent weapons of mass destruction but we're giving you our faction conclusions based on solid intelligence the key players come and go. it was you who were the firm from one side. and just two so who are pure team and. deal with the fierceness clearly not for into this international political stage drama year after year is the number one guest to r.s.v.p. and r.t. new york. and in the west bank israeli settlers police and defense forces are

gearing up to bear the consequences of the palestinian aspirations for sovereignty as they expect massive marches in support of the move landmines are being planted alongside the border. is watching the preparations in israel. there's a growing sense of isolation among israelis for months they simply named it september and now september is here and with it the ease and uncertainty about what to do when palestinians ask the united nations to recognize they state i think the responsible thing to do from the idea of point of view is to prepare for any eventuality prepare for the worst case scenario and hope it doesn't happen the worst case scenario is violence there's even talk of a food into fodder the israeli army has been preparing for months beefing up security on settlements and planting new land mines along israel's northern borders but many complain these measures go too far out of trying to. maybe it's more come for. the last thing to live if one says

a repeat of the chaos at its borders three months ago when hundreds of demonstrators stormed the israeli syrian border in a show of sympathy for the palestinians twenty protesters were killed by israeli fire the area is littered with mines and added danger to those clamoring the mines are not necessarily very to deal with people who have peaceful intentions but mines are a legitimate form of defense many countries have mines on their borders for that reason in one of its internal magazines the israeli army said it was planting new mines in the area as a deterrent against any future demonstrations that might take place cards are expected to surge forward when palestinians put forward their case at the united nations and the army refused of requests for an interview the most they gave us was an e-mail response in which they said they were performing ongoing situation assessments and doing everything required in order to ensure that their daily routine and security on israel's northern borders was maintained but it wasn't

security there tore off the right half of salad bars body he lost in leg a hand and an eye when he picked up a mine when he was thirteen years old. what i bring to the you and sometimes. it was if he did because if you. continue to live he have. he got little sympathy from the israeli government that blamed him for being in an area infamous for mines but instead of hate and anger sally wants his misfortune to be a warning to others and is now dreading what will happen if thousands of people surged towards the borders later this week i feel very very very sad because i know you know or my own son. just

just buy. flowers or good life for the people it's nine months since the arab spring began and his palestinians lobby the united nations the last of the region's old certainties are being swept away but fears in the region are growing that what happens in new york city the stage for the next middle east crisis. r t israel or with more on the continuing turmoil in the arab world in just a few minutes five hours to finish off get out these remaining supporters in libya or the west anticipates singing or a new business opportunity in the country. ok let's turn our attention now some other world news this hour and turkish officials say fifteen people have been injured in an explosion center the capital and eyewitnesses claim to have seen. this thrown up. from any of their however if you just have a bomb planted on one of the cars one. tank in connection with the incident

the area has been sealed off with an investigation underway the residential district also houses miscible offices on the part that. it's turkey is considered to have a high terror threat kurdish separatists recently intensified their attacks killing over forty turks in the past few months. activists in yemen say security forces have killed more than fifty people in the past two days during clashes with anti-government protesters across the country in the capital sanaa smyth is a friend fired from a rooftop shooting among others but estrogens and those filming the violence the crackdown that follows reports the country's vice president could sign an initiative arranging the transfer of power something protesters have been calling for for months. a policy that banned open to homosexuality among service members in the u.s. military's been repealed the practice known as don't ask don't tell was introduced

in one thousand nine hundred three in the clinton administration under the rule gay people were allowed to serve in the old forces as long as they kept their sexual orientation private the gay community has held it scrapping as a historic day for equality. now we have heavy rain in southwestern china school severe flooding and landslides that have claimed at least thirty seven lives with dozens still missing floodwaters have reached new highs and millions out in force to evacuate the trench will downpours turned streets into muddy rivers that swept away calls toppled times on blocked roads forecasters say more bad weather is expected in the coming days it was already the worst rainfall in looking for. now the european human rights court ruled but russia's decision to launch a tax fraud case against the now defunct oil giant in your calls was not politically

motivated but judges also found that between two thousand and two thousand and one moscow rushed the proceedings leaving the company with little time to prepare its defense the freezing of its assets left you cause with no ability to operate cause . thing its eventual collapse you call switch was once headed by jail time. demanded almost one hundred billion dollars in damages but the court says it needs more evidence from both parties before ruling on that play. the turkish president is in berlin discussing e.u. membership in issues of face by some three million living in germany today the multiculturalism debate comes at a time when the country's marking fifty years since inviting in a wave of turkish work is to help boost efforts to build the wall tom boston looks at the changing demographics of one of the world's most ethnically diverse countries. it's the end of school for thirteen year old malik college in frankfurt germany. his grandparents escaped from morocco in the one nine hundred seventy s.

joining a largely white german society his mother nadia grew up here and she's seen things change and we have a time where everything was perfect you know we don't feel like that we have. met and that like since my son was why there's a after five here then i feel like something's happened the politics not just problems are at least partly down to a massive demographic change statistics show that the overall population of young people in germany has fallen by two million in the past decade i can see you cannot make a situation also a population. increase so. not to have as much children as we need increasingly wealthy german is seen raising children whilst holding down jobs as a waste of time and money the only parts of the population that are growing by

immigrant communities the changes in culture and ethnicity are leaving some germans feeling threatened the islamism leaders forty years law make model of society it is very different from it in a classic german money we find that islam prevents people from properly integrating into germany for instance if we see ten year old girls being sent to school wearing headscarves we can already put it there are developments. too late say immigrant communities arguing about immigration now is outdated and may even border on racism here we're still have a discussion about the his that being now we are like the middle age. and with a serious labor shortage looming experts say germany needs all the workers it can get. so you. for demographic problems we need people and the only people. make the people these teenagers from poor immigrant backgrounds

are being welcomed into a new education program great start which helps them with money and support towards their final school exams or believe. we were poorer than others my family was discriminated against it was a very difficult time for me now without warning so much about money i can focus on my studies and graduate from school. the demographic future of germany is difficult to predict but if programs like this work they could help germany accept these students as part of its multi ethnic feature the changes in germany's population and the debate surrounding them will take many years to play out but life goes on and by the time these teenagers have children of their own it seems likely the face of society here could look rather different tom watson r.t. minds. more stories music videos a way to our website r.t.

dot com he's also online right now before cocktail pilot error and whether investigators find traces of alcohol in one of the crewmembers plane that crashed in northwestern russia enjoy. it while in the us a study finds a car crash tests are full but drug abuse deaths rise find out what's behind the switch on r.t. dot com and while you're online check out our you tube channel the latest video from around the world. it's. easy.

the official auntie application. from the. video on demand. now in the palm of your. dot com. to libya now where anti gadhafi forces claim they'll cross from a resistance from the colonel supporters within the next few days but their progress is taking three besieged cities with ground often switching hands several times throughout the day loyalist forces are dug in deep and i said to be using civilians as human shields meanwhile libya's new ruling body the national transitional council is having trouble forming a new cabinet huge disappointment among its members without the himself been on the

run for months now whereabouts unknown nato still bombing the colonel supporters on the pretext of protecting civilians but some analysts believe the west is simply gunning for its own. it's very hard to believe that they are getting involved militarily out of the goodness of their hearts but of course as we've seen lately there was a promise conference held very business interests were discussed and the whole purpose of that meeting was of course to make the military adventure worthwhile and to discuss business opportunities involving the rebuilding rebuilding of libya with energy companies and the telecom firms and construction companies from britain and france in a very good position to get a very lucrative business deal with those who don't believe in the national transition. consol has made it clear that he wants to reward the countries who took the lead role in backing of the rebellion but we also have seen resistance from

jodi's movements who have called for the members of the national transitional council to resign and who are making it abundantly clear that they are determined not to lead the west plunder the country's assets. in the program we'll be showing you our special interview with one of the advisers to the palestinian leader who says the bid for u.n. memberships not the end game but first let's get all of his business news with you dear. frank salih hello and welcome to business sarsi great to have you with us the russian ruble continues to retreat against the main currencies it has made the lowest level against the u.s. dollar in ten months the central bank says the value of the free floating ruble will be decided by the market. new very deeply appreciate it actually very seriously so you have no god it's in the strange way to change the law the legal the supply demand and the most it goes you've. said you're going to push your issue

to believe that the united nations even though it's a good habit it could be judicious for both george. let's have a look at the markets right now the oil prices bounce upon it from the losses in previous sessions where escalating fears over the eurozone debt crisis continue to stoke concerns of a demand wide sweet is currently trading at around eighty six dollars a barrel while brands as around one hundred ten dollars per barrel. european markets are trading on a positive note the sentiment is supported by speculation greece could receive the next eight tranche from international credit is that they russian markets are also on the r.c.s. is gaining point seven percent while the my six is a one point eight percent of the south. let's have a look at the index moves on the minus six bodies on the rise on speculation it might increase demand of shares to be converted into depository receipts they were treated to sectors also in the positive territory in russia is continuing gains

after two reported and almost sixty percent increase in the profit for the first hopeful to get six is among the gain is in the retail sector the company's first half profit has jumped moment forward as it significantly extended its network. russian equities maybe seeing a bit of profit taking this week but michael stein at crete here believes the high oil price will continue to make commodities stocks look promising. given the very high level of uncertainty out there a word by using our clients to take advantage of the fact that the world prays through means that stubbornly high and also noting that the ruble has weakened a lot we like the world stocks which benefit from ohio personal one thing and also the impact the favorable impact of the we can rule another stock that merits attention right now given investors desire to shelter themselves from the commodity price volatility is a company called g.t. for this is a power generation company which is trading at attractive valuations it has low cash flow volatility and yesterday the company released

a very favorable first half an inch results showing a five percentage point improvement in the profitability of the dollar bill and also very strong topline growth. germany's siemens is squishing its nuclear joint venture with the russian energy corp the engineering giant says it's now going to focus on alternative energy two years ago the companies agreed to jointly build new generation nuclear reactors they expected to construct four hundred plants by twenty thirty requiring a total investment of more than one trillion euros but following the disaster in fukushima siemens decided to phase out its nuclear powered business the collapse of the tie up could put on hold as a nation state stand its international reach. tehran have agreed to join to develop the world's largest untouched zinc lead to pulls it in central iran it will be run by russia's rostik and the loggy and the biggest private bank of iran b s i analysts estimates the project to be was up to one point two billion dollars however its implementation could be hampered as you bring in bank is subject to un

sanctions. that sort of business news for you this hour for more stories you can always have to our website that's all t dot com slash business. in

the faraway land where human life is ruled by nature. of planet earth is carefully preserved by the per. inch anonymous lie hidden in the deep permafrost. and for those who deal with them through stored times are still. wealthy british style scientists and. markets why not. come to. find out what's really happening to the global economy with max cause or for a no holds barred look at the global financial headlines in two kinds a report. it's

up to us down here in moscow this is a sea room on the right as the euro zone is the largest economy take the half of it and its credit rating going down and sparking fears of an even deeper financial crisis it's the latest of six euro zone countries to take a credit tumble against. israel calls for peace talks with the palestinians but plonked some lines on the border ahead of the palestinian bid for a seat at the u.n. this friday today in a pandora's box. multicultural under the microscope and so it has president bush then trying to break down to one of the issues facing immigrants in germany it comes to us on the germans say they feel threatened by the ever growing wave of immigration. now with a nice three days left before the palace to.