russia's president vladimir putin tells his american counterpart he's bowing out of next week's g. eight summit in the u.s. just days after settling back into the country seat of power. rescue teams find bodies of the crash site of a russian next generation airliner in indonesia as they reach the scene in the mountains. too strong explosions rock damascus with dozens reported dead and injured when warns the spate of violence could put its observer mission in jeopardy . and in the business bulletin following a pretty choppy trade on the opening the marshall markets opposed to a hefty gains in the first hour trade to get all the details in twenty minutes.

watching r.t. live from moscow eleven am and the russian capital lima avoidant has an expected lee pulled out from the g eight summit in the u.s. state of maryland that starts next week and stead he is sending prime minister dmitry medvedev if it's get the details from our correspondent peter oliver well peter this all seems a quite abrupt so what's caused this decision tell us more. well president putin contacted by phone to explain that he couldn't come to the summit next week in the u.s. because he had to make key cabinet appointments here in russia to remain in moscow in order to do that no two agreed that they would meet next month at the g twenty summit which is being held in moscow the white house said that the understood the situation. and i understood what. president putin had said and that they would be

happy to receive prime minister made good if as the representative of russia know it his campaign for the presidency vladimir putin was quite critical at times of u.s. foreign policy particularly concerning the on time missile defense shield that's proposed to be put into eastern europe and fact one of the first orders that was signed by president putin upon taking the oath of office was that he wanted to receive written confirmation legal guarantees from the united states that russia would not be targeted by missiles placed in sites in eastern europe. or in the slide and worried as a sleeve the delicate issue of missile defense. well the missile defense shield is going to be discussed at length next week a nato summit that's being held in chicago well the alliance is expected to give

the green light to turning on and activating interceptor missiles that are based in poland now time and time again washington has said this the missile defense shield is there to to target states such as where the potential threat from states such as iran and not russia however washington has failed to provide the legal guarantees demanded by by moscow that russia isn't the target of this missile defense shield or this is really a sensitive issue that is rumbled on for a few years now as my colleague alexy other ships he reports. these are only some of the label small sco has received in the west for expressing concerns over washington's controversial european anti-missile shield plans the u.s. wants to do you support for this missile defense system the russians i mean have you been. very mistrustful of the u.s.

global agenda and want to use this issue to issue up to us you know why it's there if you could post like that we should respond. and some ethical for you would be to make russia's position clear the defense ministry organized a special conference in moscow visualizing its warriors in a graphic clip experts say that by the year twenty twenty when the final phase of the shield will be ready nato bases in europe will be able to shoot down russian intercontinental missiles this moscow says violates the principles of nuclear containment and would dramatically shift the balance of global power. that it would have no objections to the will of the u.s. to strengthen security in europe but it cannot be done at the expense of our security security cannot be divided and that's one of the principles of the start treaty signed between moscow and washington the u.s. delegation again played down talks of a possible threat to russia now due respect. to.

security. interest if you will be very. strong. but words do not match actions according to moscow with washington unwilling to rubber stamp of those promises in a legal document until it does russia defense ministry says it will continue to grow military potential on its borders ready to act against america's a.m.d. ambitions even preemptively sujoy them just the reason you wish you could taking into account the destabilizing nature of the missile defense system and in particular creating an illusion of an un punishable strike the decision about a preemptive use of force will be made in a period of heightened tension the deployment of new offensive arms in the southern and northwestern russia including its can and missiles in the callinan grab region provides. the destruction of the european missile defense infrastructure. this

scenario is clearly seen as a last resort however moscow is standing strong in its position sending the ball firmly into washington's court moskos conference happened just two weeks before the nato summit in chicago where the alliance is expected to officially launch the first phase of the euro and deed and while nobody has any doubts that the points made here will not change the summits agenda they may eventually urge washington to provide legal guarantees that this system will never be used against russia something moscow has been demanding for the past several years let's see russia see reporting from moscow. now rescue teams have started recovering bodies from the wreckage of a doomed russian next generation airliner they have reached the mountain crash site in indonesia where the plane went down on wednesday while artist brace reader is in jakarta so let's get the very latest from her now so priya why do we now at this point. well marina as you just mentioned the indonesian authorities who are at

rescue had quarters are now saying that they have found bodies of the forty five of many of the forty five people who are on that plane the indonesian authorities are saying that there are no signs of survivors we also have a source who was supposed to be on that airplane who is telling us that now paratroopers have finally arrived onto the scene and the plane was found early this morning by indonesian air force helicopter as the plane went down yesterday it went missing off of radars about twenty minutes into a demonstration that was supposed to last for thirty minutes on it was the second demonstration of the russian. one hundred that was going to take place in jakarta yesterday on this was all part of an asian air show the plane had already gone to kazakhstan and me on mar and was set to head to laos and vietnam nat's there were

several indonesian passengers on that airplane as well and many of their family members spent the night at the airport waiting to hear word from the rescue the rescuers of what had happened to the plane and we're getting pictures in from the now many of them are grieving it's a tragic day here in jakarta obviously a huge loss of life and the rescuers it's in a very mountainous area the plane actually crashed on a mountain which is a dormant volcano so it's taken teams almost three hours to get there on only just now are they starting to reach the actual crash. cover those bodies. as you mentioned earlier. the region so how had it been fairing before this tragedy. nothing like this is happened before with the russians

one hundred on this is the first commercial aircraft built in russia since the end of the soviet union it was built in two thousand and seven and the first task of that aircraft happened in two thousand and eight the first commercial flight of this aircraft happened just last year in two thousand and eleven only about a dozen of these aircraft exist but they cost around thirty five million dollars there's already been about one hundred eighty orders from around the world that have been in place some indonesia just signed a three hundred eighty million dollars deal for this airplane back in august and that's one of the reasons that the airplane was here in jakarta to demonstrate its performance to many major airline executives as of right now you know the main focus of today is on the rescue operations and calming the members of the families

of the passengers who were on that plane. thanks very much for bringing us the very latest. reporting from. and still have for this hour here on r t the financial crisis budget cuts in the u.s. forced people to leave their homes and even seek legal solutions to find out more just a few minutes. to large explosions have shaken damascus syrian state t.v. says dozens could be dead or wounded the capital has recently been struck by a number of blast mainly targeted military installations on wednesday a roadside bomb exploded near a monitor's convoy in the city of the raw casting doubt on the future of the server mission in the country the u.n. envoy to syria warned his peace plan is the last chance to avoid the civil war brian backer from anti-war coalition says until rebel stopped receiving weapons from abroad violence will continue. you have to look at the bombing and see who is

the material beneficiary from the continued escalation of violence and i would have to say it's not the syrian government but those who are for mental and civil war in syria that would be parts of the armed opposition and the armed opposition is getting arms from turkey from other arab regimes and particularly saudi arabia and the gulf states and of course the backing of the nato powers they're not seeking reconciliation they're now seeking a brokered peace every effort by the syrian government to enforce a cease fire or to make concessions is met with armed opposition groups who are having weapons funneled to them from the outside we know this not only from the syrian ambassador but even from kofi and the u.n. delegation which is acknowledging the flow of arms from outside into syria who would do that and why well the only ones who would do it would be those who don't want to settlement don't want to negotiated peace want in fact a civil war leading to the eventual overthrow of this current independent

government in syria. while you can go deeper into a story that r.t. dot com so online you can find out how ukraine's jailed expert here is no longer on hunger strike. moved from prison to hospital after ending her nineteen day protest and the claims of abuse from prison guards. and sounds of true impressive military hardware and helicopters brush it off and its veteran celebrating sixty seven years of victory over the nazis in the world war two with a spectacular parade on red square to watch the action on our you tube channel. he used to.

be official. from the. video. and. now in the palm of your. hands to form a coalition have so far failed in greece's far left leader. reject the proposals by the parties this comes after sunday's parliamentary elections in which no party managed to secure an overall majority without the deal greece will be forced to hold a new auction in june german chancellor angela merkel said any new greek government must stick to the of sturdy plan agreed upon exchange for the bailout economics

experts warn her demands are unrealistic. is speaking as if. the implementation justin. that these agreed to between a government and the european union is a matter of will that if greece wanted to implement it then you would be able to do to do it. this is a very profound error greece cannot implement this plan because this plan cannot be implemented by anyone it flies in the face of economic activity. if greece doesn't try to implement it as it has been doing over the last year and a half or so all that will happen is that the day is going to get worse that the session is going to deepen and this often connie is going to enter more into its kind of coma so what mrs merkel is asking the greeks to do is mission impossible

later the winner of the nobel prize for economics going as joseph arrow tells r t how is terry is not the way forward for greece or the entire euro zone. about the tendency which is partly through the united states but much more true in some parts of europe of too much austerity when we have. a condition of deep deficient demand massive unemployment i think the idea that you want to stimulate the economy. through government spending or some other good tax decreases is pretty clear he was interesting greece had had not been in the euro they probably would have been able to borrow the money they did but that was going to lead to drachmas because they were. nobody but the demand i disagree i think they made a mistake by not the forty year old. said that they have because of sells a little bit trouble. overspread that it was no i think is any conceivable course

they write up with a deficit that was. during times of prosperity that was. not could not sustainable. and watch the full interview with nobel economics prize winner joseph arrow in just over an hour here on r.t. . violence in syria and iran nuclear program will dominate talks as russia's foreign minister of business china the two countries generally see eye to eye when it comes to global matters jones the chain from making university says it makes sense for both sides to work closely together. every major global power really benefits the most from global stability both countries but entire world stands to benefit from a peaceful resolution to the crises in syria and what's happening right now between israel and every ad so both countries sent about it from each other i would say if

you were to say who but it's more than what was said what exactly china because you could argue that russia the russian economy is self-sufficient whereas china very much is it it's economic growth it's very much dependent on global stability and global economic growth you could argue that after the fall of the berlin wall the united states started to retain just. proportionate and really a new reasonable and ultimately unsustainable amount of global wealth and power and now what we're seeing basically is that we don't see where russia china and the brics countries are slowly rising in in florence and i think that's the way it ought to be for too long we've been a huge you know polar world and that has great a lot of issues more slowly moving towards a multi hola world which i think is all to me more reasonable and more sustainable . opposition rallies are continuing into their fourth day in moscow with several dozen people still making a stand in the city center some of them spent the night there being unsanctioned

most of the protests during the week have been dispersed while several hundred people have been detained opposition leaders like senior vonnie and sergei lifts off have been sentenced to fifteen days imprisonment for resisting police mass walks and sit ins across moscow starting on monday the day they were put in was sworn in as the new president on sunday the white ribbon movement called for a million man march which turned ugly when some protesters started throwing stones and trying to provoke police. do what you are to buy from moscow now let's take a look at what else is making news in the world football fans class with police in the spanish capital overnight thousands poured into the streets celebrating athletico madrid's victory in the europa league final violence erupted want to small group of fans started throwing bottles and stones at police were trying to push the crowd back several people were arrested after the confrontation. believing and riot police have fired tear gas at an anti-government demonstrators

and clashes broke out when thousands of workers protested over pay and work conditions the laborers were joined by union members united in their opposition to the president and it was a very different scene in the city of contraband where people gathered to show their support in solidarity with the government. roc obama has become the first american president to back same sex marriage he said gay couples should be able to legally use us ending months of dodging a direct answer about his position a bomb also mentioned it's important to him that all american troops are able to commit to marriage their mark follows a vote on a constitutional amendment in north carolina that makes it the twenty eight states to prohibit same sex marriage. how more than two point five million homes in the united states have been repossessed. by banks since the financial crisis struck the country anger over the crippled economy is deepening as people struggle to find work pay their bills and keep hold of their houses and that's forcing increasing

number of to turn to lethal ways out of a has a story. dozens of police and swat teams sworn in on the small central california town not what you'd expect for what was supposed to be a routine foreclosure but at this point we believe the suspect is barricaded inside of the apartment complex we don't know anything about him we don't know what the motive is behind this shooting all we know is that we have two people dead apparently forty five year all jim richardson a rarity oh had his motives he was losing his condominium because of her fifteen thousand dollar home and with the loan he could no longer afford to pay the condo was sold to the auction for a knock down price and ferrero was handed and eviction notice it proved to be the last straw for the former security guard who barricaded himself inside his home and refused to walk out to live without and worryingly such an extreme act it hasn't

been an isolated incident in this area and public safety as a whole has been affected by the economy just like everybody else live there isn't anybody in the community that hasn't been affected by this economy last year the town's foreclosure rate was the third highest in the country with one in after a nine thousand properties reposed by the banks the entire region is ravished by an employment and budget cuts and it's a story being repeated nationwide with a quickly bloody consequences in phoenix a man opened fire on police when he refused to leave his house in ohio an old married couple killed themselves when the faced with a vexation while in florida and then was gunned down by police after he said his recently foreclosed tom house on fire these doubts by foreclosure killings have been going on quietly around the country average since the financial crisis threaten to pull the rock from those only surviving on credit i think people get desperate and they don't. the light at the end of the tunnel but you know it's

ok if i lose my home and i move somewhere that i can afford and i can rent and i just think we really get attached to home and. and are very reluctant to give it up and i think it brings on. desperation. was no sign of any recovery in california's economy and stubborn unemployment it means the body count looks to only grow in the months ahead x. prayed for because the huge church in home foreclosures this year while the threat of a shadow inventory of soon to be foreclosed homes continues to hunt housing markets there is a question how many more depressed people forced from their own homes and with nowhere else to go are pushed to the very edge determined to do anything it takes to stand by their property till the bitter end of course no archie reporting from

california. and right now is to go what's happening in the world of business natasha's there hi there hello it seems to be a sentiment change on the markets doesn't what's going on well i would certainly hope that there would be in fact at the moment most the global indices are actually gaining value including the european markets that opened less than twenty minutes ago at the moment both the footsie and the dax are gaining as you can see there the dots already managing to put on more than three wars and for sound wildly footsie is gaining around a quarter percent and here and russia the sentiment changed as well at the moment to both my sex and the r.t.s. are in the positive territory after a having a pretty trompette opening in fact the r.t.s. was losing value in the first hour of trade but let's take a look at some individual shares on the my sex and the t.v.

and it's a bear bank are among the top gainers is very bank posted a fourteen percent in greece and first quarter net profit but that's according to the russian accounting standards and the oil majors including olu corals are doing quite well and that's a despite the world being lowered not only is. lower today but it's actually it has been losing value for the past six trading sessions sessions it's the longest losing streak so far this year and that's not surprising considering ballots such major european economies as france and greece choose the choose not to elect the leaders that supports austerity measures in fact europe is in the main doctrine that has been driving the global equity markets currencies let's take a look at those at the moment the euro is gaining ever so slightly against the dollar but as a general trend of course with all of that uncertainty about the state of the

european economy the euro has been trading around a three month old low as everybody's piling to the u.s. dollar and of the russian ruble is actually losing value against both the greenback and the euro and now on to asia where trade is still pretty active at the moment both the nikkei and the hang seng are shedding value and high end to p.o. the nikkei is under pressure mainly because of the tax talks there's a lot of uncertainty cisco group of global leaders cisco is actually reporting its outlook is on a certain amount so putting pressure on the tech stocks and export results under pressure because the yen is pretty strong and in hong kong the investors are extremely disappointing disappointed over chinese trade data it came out with exports are rising less than five percent in the month of april compared to the same period last year and that's way below expectations and in the united states

and wall street overnight we saw some losses in fact the dow jones industrial average is now boosting the biggest a losing streak since a lots of august and all of that is mainly on worries about the health of the european economy as i already mentioned you can read. is failing all attempts to form a coalition so far at least there are now concerns that it might drop out of the euro zone the near future on wednesday the eurozone rescue fund said it will transfer four point two billion euro to greece on thursday as part of its rescue package but that's one billion euro less than planned the european financial stability facility explained as decision by saying the remaining one billion will not be needed until june and it will be dispersed depending on the financial needs of greece and now staying with the euro zone spain has decided to partly nationalize its fourth

a largest lender among key to clean up its financial sector the deal will give the state a forty five percent in direct stake in the struggling bank which has more than thirty billion euros of exposure to troubled loans the government is expected to land or give up to ten billion euros in aid but some analysts say it will certainly not be enough. and that's all the latest from the business desk i'll be back in about fifteen minutes might in thanks very much andy for the sound of there in the business desk and coming up here on r t is j.p. morgan's chief stealing your money back skies or is god the answer that's after the headlines don't go away.

wealthy british style. is not on the tightest. markets why not come to. find out what's really happening to the global economy with mike's concert for a no holds barred look at the global financial headlines tune into cars a report on our.

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