cover all the economy. and in the business bulletin later this hour china suggests bilateral trade with russia by switching to the national currencies this story and more in about fifteen.

dreaming of a luxury see round trip with open air entertainments. a little min of exercise to get in better shape. and cuisine with all my healthy ingredients. in this case something to. our summer sales on our cheap.

this is dan c. welcome back the multi-billion trial that heard accusations of greed and design a stay as well as allegations of threats signed by dr evil will come to an end in london court in a few hours russian businessman roman abramovich the billionaire chelsea football club owner and self exiled of russian tycoon by reason results living in the u.k. will hear about extra day lower smith is and wonder. this verdict will bring to an end a case that opened up the secret world of the only guards with all it entails unimaginable

sums of money offshore bank accounts illicit payments glamour luxury cruises and deals done with only a handshake in five star hotels and ski resorts it's brought to the london call to squabbling billionaires and their own to raj is expensive lawyers menacing bodyguards and beautiful women it's a trial where both men have accused the other of lying corruption and greed the main points of the case that is old skis says he lost billions of dollars when abbott i'm over it intimidated him into selling his stakes in russian oil and metals businesses for a fraction of their value but at the time of it says it is not scheme never owned any shares and that the payments he received were protection money or creature a word that's now freely bandied about in legal circles here in the u.k.

as a result of this case but our mortgage those he made regular undocumented payments to belittle ski in return for political protection totaling several hundred million dollars with amounts of five million handed over in cash he also says he paid for but is also key to travel in a private jets for him a friend chateau and jewelry for his girlfriends and the sun at stake more than five billion dollars what but it's all ski fields he's vote on top of the one point two billion he was paid in two thousand and two. the civil trial one of the biggest in british legal history came to an end in january and involved hundreds of hours of court time and millions in legal fees chewed in for the verdict between now but imo it should but is obsolete later. now some other stories making headlines around the world two hundred seventy south african miners have been charged with the murder of all their colleagues despite the fact it was the police that shot the

national prosecutors say officers only opened fire because they were under time to buy onto protesters more than one hundred fifty of the miners being held playing. in the custody of the bloody scenes at a strike this month became the bloodiest incident since the fall of the apartheid regime. sentiment is threatening legal action over a book describing the details of this sealed raid that killed osama bin laden in may last year the department of defense as they also there is a former u.s. special forces officer had violated agreements not to divulge military secrets the book published next week apparently contradicts the official account award happened . republican presidential nominee mitt romney says america is less secure because president obama has failed to slow iran's nuclear program the white house hopeful accused dropped the bomb of abandoning poland the missile defense

romney made the remarks to close this three day republican national convention in florida dropped the bomb and will get a chance to counter his republican rival next week at a democratic convention before november. and later this hour when asked the research i've been even to discuss is the race for the white house and the actual significance of party conventions but here's a preview. actions in the us now are sort of a beauty contest they're not they used to be in the history they used to have a lot more effect the nominee was actually chosen at the conventions but now we have a party primary and caucus system which does that so it's just sort of a coronation of the nominee of the particular party and they script them pretty heavily romney has complete control over the conference convention either of his or a few ron paul supporters that kicked up a little bit of dust but largely even ron paul is playing the game inside the party

so you don't see hardly any disputes. this was the plant that was responsible for causing the world's worst industrial disaster and now it had been abandoned in a condition where it had become a source of pollution or the most recent study that was done shows that this water pollution and spreading. will continue to be in the more than hundred thousand people think logically it. looks like in effect the children see the children paul budde to be ten times more likely to be born with birth defects in children in the rest of. the scene as little as five hundred dollars for

lifelong injuries and the unpunished. those stores in here. who are going to load them into. my room. lol you. change your style. to. make your statement. the are.

moving on now with the you are seeing a functional sadia europe's biggest pay to angela merkel has ten days they german chancellor is in china clutching billions in contracts to be signed in bay during. nine eight from the european council on foreign relations believes china is a country worth spending some time with to make friends. the big hope in europe is that the chinese would invest in some of the new vehicles that have been crazy like the european stability mechanism. the chinese. offer lots of words of support today and yesterday but not much in the way of concrete promises to buy bonds in

any case the chinese don't tend to make their bond purchases public so we don't know for example how much the chinese invested in european bones in the last two years since the euro crisis began anyway and we probably won't know so there's a lot of there's a lot of uncertainty about in the case of their boss obviously this is a european company and so it will benefit not just germany but also france and other countries in europe the loss of the deals that have been signed. off the german companies rolled into european companies and so in that sense there is a competition going on between germany and other european countries germany seems to be winning that competition if china doesn't ride to the rescue of the euro germany's already having back to the future for plan b. and paste all of the day's halles of old school savings. here in germany the don't try are still very much alive and kicking in fact in

a store in central berlin the good old they market is still accepted as legal tender when it comes to purchases with an exchange rate of around two dogs marks to the euro the store's manager says that there's still enough of the old currency around to warrant them taking it went on to name the reason we accept which marks is there are still plenty of people with the old currency we get quite a few people wanting to spend them in our store fast for it's not just in shops that they're accepted if you find a few demarche coins down the back of the sofa germany's public telephones will happily take them off your hands in germany they surely dropped the old money for the euro over ten years ago in two thousand and eleven alone though over eight million marks were brought to the bundesbank to be changed into crisp new currency but where is that cash coming from. that he had that is not any one of my ugly

relatives gave me the school and it's a gift so i decided to send them into something it could spend it's on television. we've had them lying around the house for ages we've only just got around to getting democrats changed or there are those though who say they won't part with their marks as a minister yeah i've got some i keep them as a souvenir i'm not going to change them into euro and according to the blunders bank there's still more than thirteen billion dollars each marks in circulation they say they get returns from as far away as brazil and new zealand so unlike some eurozone members the bank won't place a time limit on accepting old money. so we will continue to take them as long as people can bring them it's something of a tradition here that currency from years and years ago will always be exchanged for legal tender there are conspiracy theories. though who say that in the banks vaults are trillions of marks being stockpiled should the euro crisis deepen so if

the cash that's returned isn't being kept for a rainy day what happens to it and once the exchange is complete those deutsche marks the shredded ending their days as very expensive confidential feature all of a r.t. . and of course you can find plenty more stories on our website also home and here's a taste of a book because i have right. to riot lay down with a spray from the movie and just roach as you point out why the russian punk band is being linked to a grizzly double my. friend also dying of sports results a cake recipe all maybe the latest updates on the new us military drone attacks all available with the new iphone.

and time now to cross over to the business desk that touches that the look good morning to you china is insisting on switching to national currencies in bilateral trade to explain well that's the idea and it's been able to do it with some other trading partners and russia could be next all the details in just a couple of minutes but first let's go straight to the equity markets and see what's going on there asia first down we're seeing pretty much already across the board but japan's nikkei is losing the most on disappointing july industrial output numbers medaled producers are really feeling the pinch over in the states overnight equities also lost some ground more than one percent for the nasdaq as a matter of fact as investors are anxiously anticipating a speech by the fed reserve chairman ben bernanke you later in the day the markets

to the most margin not anticipating bernanke to to announce any stimulus measures but some clarity would be very timely on the currency markets the dollar the salaries of treating to the european currency the russian ruble on the third of the last against the currency basket ending at the lowest level to the dollar since the and the july. i will bring you all the latest. as soon as the russian markets reopen in less than two hours time and here in moscow the equities ended thursday's session billed losses the stock fell to the lowest in more than a week and crude of course didn't help more than that in just the second day of gals problem and bear banks were among the outsiders orders gold and believed to be well managed to buck the downward trend a lower approval heard the russian equities on thursday dropping to a two week low after worries about the her account isaac subsided but we're seeing a different picture this hour of crude is actually demonstrating modest gains as

you can see and. hopefully the russian markets will open higher as well and privatization of russia's state assets could soon go online the state has agreed to this terms of selling its properties through electronic auctions analysts say that would make the privatization easier and more transparent but online sales don't exclude privatizing state assets through more traditional means china wants to turn a trickle of cross border trade a new one on into a stream beijing uses its national currency one trading in hong kong and also in singapore but also hopes latin america in the middle east could be next meanwhile russia has long been and favor of moving away from the dollar and trading in the national currencies hong kong's financial secretary john sung splines to business r.t. how it could work. what is happening now is

a great deal of trace. in the national currency so in terms of for example between russia and china they would be doing a lot of settlement in un or in ruble this way you can we reduce the currency risk that may incur and that is already happening i think we should expect to see a lot more of that and as these two currencies become at some stage of currency for for the rest of the world. while making our ruble a reserve currency is certainly something that would make some of russia's financial authorities very happy right natasha thank you very much we'll see you next hour see them all right now they're back with our top stories in just a couple of minutes stay with us.

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god our teeth dot com. dreaming of a luxury used to seem roundtrip with the open air entertainments. a little min of that to size to get in better shape. and cuisine with all my healthy ingredients. in this case something to remove our summer sales on our chief. the funds technology innovation all those developments around russia. we've. covered. a story.

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back this is see i will trickle the headline. to i keep pushes for foreign nations to intervene in syria to protect civilians but it's a refuses to allow taking action beyond the one security council. on syria is a wildly topics in children and soldiers late stage the latest interview the whistleblower promises nor we feel it's revelations and claims the media's been manipulated or what's happening. tyson's a longtime court will give its verdict in the multi-billion dollar legal battle between two russian oligarchs live in a case full of accusations of dirty dealings and threatened. with mitt romney now

specially named the republican nominee for u.s. president. talks to a school and research i've been in and about the race for the white house. what do you read into the g.o.p. convention. well conventions in the u.s. now are sort of beauty contests they're not they used to be in the history they used to have a lot more effect than nominees actually chosen at the conventions but now we have a party primary and caucus system which does that so it's just sort of a coronation of the nominee of the particular party and they script them pretty heavily romney has complete control over the conference convention there observe you ron paul supporters that kicked up a little bit but largely even ron paul is playing the game inside the party so you don't see hardly any disputes or anything like that over the platform or anything

else and no surprises all the romney started at the very beginning of his campaign was very rough there was a lot of competition a lot of other candidates who basically discredit ahead and yet now at the convention it seems as the g.o.p. just wants from need to be the president yes well they've all that's the tradition in american politics usually is they have about a battle during the primaries call each other all sorts of names criticize each other's policy and then all of a sudden you see people who are criticizing him before when he gets enough electoral i mean convention delegates he flip and then start supporting him so as it ran this time they think now for the u.s. well usually they're on the republican side they they nominate the person who lost last time the next in line the democrats are a little bit more if he but but i think basically comes down to these conventions

and surf surface phenomena at the don't really mean much people who actually study elections in the u.s. say it's not really between two candidates it's a referendum on the current administration so you know they get almost anybody running and the economy is bad and it's going to be very close but i think some of the models predict obama still eking it out of a. close victory but it's going to be close so those models could be off as well but i think obama has an intrinsic. advantage in the electoral college because in the united states you know we don't. as we saw in two thousand election we don't elect the president on the popular vote it can sometimes be different than the electoral college so we really don't have a national election we have a state by state election and so the. candidates have to win so many states which add up to two hundred seventy electoral votes and so that can sometimes

differ from the national popular vote totals so this could be another election where that happens we'll see obama as a slight edge in the electoral map and they kind of means that romney's policies are too far to the right and he seems as if he's moving even further to the right choosing paul ryan for instance a lot of people like his and accuse him of wanting to assert to the right wing of the republican party do you think the u.s. is moving in that direction or is it just politics that brought him here well the republicans seem to think that they can energize their base more than the democratic base because the democratic base is kind of disappointed with obama in certain respects and if they can energize their base they can win that way but i don't know that's a bit iffy i think they may have made a bad choice in paul ryan and i think that's choosing him said ok we're going to mobilize our base instead of going for independent voters because he would have picked romney would pick somebody that was like chris christie or somebody that was

more moderate to go out to the center and there may have been a mistake because most of the conservatives are going to vote against obama. and so they really didn't need paul ryan they needed somebody to get people in the middle particularly. suburban women and you see these comments by the republican candidate. one of the senate candidates on abortion and rape. you know that really. disaffect women so the republicans led that's what happened leading up to the convention so they don't really want to talk about that the republicans want to talk about the economy and they want all those social issues which are very divisive and might turn key voting blocks like suburban women against them so in a close election they really need everybody on their side do you think he's able to move to appeal to the to the middle well not as much i guess somewhat it's hard to

say where he stands on many issues he's kind of moved around enough that's believable but after you do that and now if people you know stick you with the flip flopper type thing flipping back and forth between you know like john kerry was labeled with that. a while back for the demo on the democratic side you know if you're inconsistent on your and mitt romney has been inconsistent on abortion assault weapons ban and even on health care yes in fact obama and mitt romney have switched positions because used to be obama was against his own what became his own healthcare plan because hillary originally proposed it during the primaries and of course mitt romney was the guy who dreamed up the whole thing is governor of massachusetts and now he's against that sort of thing so you never know what's going to happen or what position they're going to take but that changing of positions don't you think it's going to weaken his campaign running his campaign especially now.