this says wherever she goes as long as the jews are fresh in her memory so is the quaker. ok. hello there welcome to business russian mining giant not based in a call agree to pay one hundred million dollars in severance bonuses to its chief executive course so that all the details on this now cross over to the business desk at the tasa waiting for us to suffer why is he getting such a huge amount of money the sum is a rest because for most of us and he joined the peace nicole in two thousand and eight just four years ago absolutely but during these four years he was able to achieve something that many thought was pretty much impossible he helped resolve

a long running dispute between the company's two main shareholders i like their pasta and why did their part time in and he did that by bringing in another russian tycoon and that is a role model for a whole village who put in one point five billion dollars into the company and became pretty much a peace broker there in that deal but i've spoken to morgan stanley russia's chief today and he seems to think that one hundred million dollars is a lot of money to pay someone. it just seems to me a very large amount of money to pay somebody to leave a company when it's difficult to see that they are making a major contribution to increasing shareholder value and it also seems to be the bait so the company has been successful in increasing shareholder value during years is period is. to see on what basis he's got this hundred

million. he would have made this us right k.t. but you have to understand that he did the very thing some would argue that actually increases the shareholder value because the company was stuck in this long running dispute and it basically couldn't really move forward and it seemed like there was no end in sight whatsoever and mind you there was a lot to fight for and the rules committee is the world's largest producer of nickel and pleading them and it's one of the world's largest producers of plotting a rodeo and copper i think many people would agree with me is about considering the scale of the company this golden power is two is still big well it's certainly large it's a record by the russian standards as you mentioned and that's definitely true by by the international standards it's nothing i'm president of whatsoever actually take

a look at this there were a number of other people who received way more money than this jack welch of general electric actually received four hundred seventy million and exxon mobil's a leave three hundred twenty million dollars staley o'neal of merrill lynch one hundred sixty million when his bank actually reported a loss of ten billion and charles prince of citigroup in ninety nine almost the same as ski so overall katie what we're looking at is despite this very allowed public out. crying about these so-called golden parachutes over the past decade we saw about twenty c.e.o.'s who received one hundred million dollars or more in payments totaling four billion dollars in combined compensation natasha mouth watering amounts my goodness me thank you very much

indeed for that. let's check out some markets but u.s. stocks they fell extending yesterday's drop as a slump in apple and fall to talk concerns overshadowed a rise in industrial production and data showing that china's manufacturing make spans a farce of pace as for your of the markets and it makes us as investors watched u.s. lawmakers debate a new budget agreement to avoid automatic tax increases and spending cuts in the world's largest economy all eyes there at the moment the year a show more volatility the friday session but the pair is still posting and restive rally this week against the dollar you can see just that meanwhile the russian ruble finished up with such a low against both the u.s. dollar and the you're right the domestic markets here in moscow finished up the week on a positive note as you can see positive rather modest just eight basis points off the r.t.s. . standard and poor's is the latest of the big three credit rating agencies to

threaten britain with a downgrade of its triple a rating one of the reasons for as and b.'s warning is chancellor george osborne's fears of certain measures which the agency says is that she dragging on growth now earlier today i spoke to dick parsons from f.x. strategy and i started by asking him if britain will suffer as a result given that the foreign rights of france and the u.s. were not affected after their downgrades. ultimately credit is a relative measure aaa of itself would be of no use if everyone were aaa because the big no differentiation and so as long as some of our major trading partners and you mentioned the u.s. and france have already been downgraded then the stigma or the perception that somehow this would be a bad thing i think is not going to be too difficult to handle but we have seen that borrowing costs in france

a fall and despite them now being double a we've seen that in the u.s. borrowing costs continued to fall even after it was downgraded by most of the ratings agencies in august of two thousand and eleven it's not such a big deal these days as far as person is concerned is it a case of bad policies or in international passes what's to blame i think it's a mixture of bad luck and bad policy the policy for stare it's seemed to be a brutal one which was not well targeted that's to say that infrastructure investment was slashed rapidly but social spending continued to rise and we've seen benefit spending for the unemployed in the u.k. is gone up twenty percent over the course of the last four years so i think it's not been well targeted but it's been very very well publicized and that's created a mood of pessimism amongst both businesses and consumers such that even when we

get good news on employment and we've seen private sector employment in the u.k. rise to an all time high in november of this year that the good news is being crowded out by this constant austerity message and i think it's time for the government to play a new chew so it's bad politics domestically and bad luck internationally the fact that fifty percent of the u.k.'s exports go to the euro zone it's clearly been a factor which the chancellor had not been able to to envisage the recession that we've seen over in your land in the sovereign debt crisis it's simply decimated britain's export industries so it's been bad luck and bad policy time for a change. that's a business for today and all for maybe he'll head off to break with the latest edition of the take sake us to stay with us for that.

well. it's technology innovation all the list of elements from around russia we've got the future covered.

little bit of both of those. please listen please.

don't speak. her her. wish. me luck good. luck. and. let her. come out of my mind a little. but

i've done your post showed. the replay it's in this show coming up how to shift a trillion in debt. to money don't mix. and the fate of the euro in the three way should. credit banks still call nine hundred seventy three hostages freed off to a five day siege but the victims slammed their rescue us to saving them. both

defending and praising the terrorists. one hostage kristin even falls in love with one of the villains and dumps her fiance when she gets out. it's silly portugal greece and spain have full blown still colm syndrome finds a study hall stitched to crippling that bankers coerced for the loans and dependency and a terrifying twist the state's so-called rescue as the same as the whole stitched take because first greek premier papademos then it's a nice moment see elected a multinational because full stints of power don't call us and thing us develop the theory he joins us now why did you call it that. is because i can see there that governments are kidnapped by the s.p. kool-aid equality the people and. they are not defending that.

we can see that greece and spain mainly because. instead of. being able to work on our. ways to go out of crisis getting you know what's the solution these of course he's against the interest. of people can't well or these very issues and example they decided not to use. odious states in international law loans moultrie paid because taken against the interests of the people equate those debts repayment was. in favor of linda's like us chase bank president karimov declared it odious the billions saved doubled spending in hospitals and schools. as far as you could see into the future they were going to keep paying debt but would never reach

a situation where the country actually benefits from the foreign capital. greece's most popular pulse isa resources already declared the national debt odious if it wins the next election it won't repay the banks we're joined by michael hudson who advises countries like the us on economic policy professor is greece is that odious rate or minister radio your it goes up well wait a minute or if you're going to want to see it really surrender our autonomy there has to be a. democratic vote random and angela merkel said you can't have a referendum if you have a referendum the democracy will vote against it we're going to pose. a check at. a government you know instead of a referendum so all of this. not our kurdish and all political process but a subtle. be a requirement for getting on

a. spidering on the population with all if the population doesn't vote for that that if that is already democracy replaced by a ditto crissy but is this in the public interest when a bank makes a loan they're supposed to. think when a minute is just a moment but a lot of other words the borrower word and definition of credit. and the bar work on earn enough money off awkward all well. and they get repaid along with the interest it this or government and. government if you have a he's our and our rat yes that's what your assets take them away the terms of the bailout for greece to sell off its land. arrest lands its offshore oil resources the property all because that's

a good play that's not libel or civil it's reached the point today where finance is aiming at the same objectives that a military war banks now waging military wars let's speak to great journalist nicholas motorists was the effect of this on the ground since two thousand and nine . eight thousand suicide since inside appends by people who know their beds their grief just go more big loans from foreign banks does this at least bring hope eight we didn't go to the present crisis the depth of the greek government was two hundred sixty three billion euro. according to the recent be a hostile argument on the member of the governmental dept will be. pretty hundred forty six billion euro bond say to be reproduced make some painful sacrifices and the next ten years we're going to reduce the debt but.

dr. sacrifice like one in two jews out of work has bought the club made for this national debt in the last decade has skyrocketed most humiliating of all for greece portugal italy and spain the future only gets worse is how spain's buying slowed to one trillion on the tykes failed private lenders gambled and built three million houses people called to forward one of them thank you no runs off as it was of the national economy claiming that too big to fail government is nationalize them turning a plain crap bank into a bankrupt nation. the worst kept secret on the markets is no one will touch the euro while four of its members at least are on the brink. hardly anyone

actually train zeroes any more random walk of the drunken offspring of a failing marriage. bookmakers don't give greece a sporting chance they've stopped accepting bets on the country's euro exit it's all turning people not just off the road but of the european union itself. britain's anti e.u. party just beat the ruling tories to gain record support in elections checkmate the free citizens was founded by pizza mike a disillusioned boys it's of the country's president you prison rules he told me stop nations putting their house in order we have experience with chicle slovakia and after it to go slovakia wrote up in a ninety nine three. then the relations between czechs and slovaks have improved and currently the relation between these two nations are

better at it than ever and. the reason is that each nation is responsible for its own mattress reads well need to morrow until it leaves the euro zone so i think we did eventually do euro so we'll have to break up anyway but how do you actually quit the currency wolfgang when shells research just that's at the financial times he joins us now so how do you leave the euro. e.u. law that stops you know that stops greece from imposing you know the default there would be emergency laws naturally i mean you would have to you know you would have to basically collect all the money stamp of the existing bank notes to you know make them greek euros and so it's quite a bit of quite a bit of stuff that you need to do in order in order to get to and you need to

impose bank holidays so this is not doable in a weekend single probably have to close down the bank so what are we here greece goes what will happen portugal is in between spain and greece it is it has some of the characteristics of a very poor country and it has some of the characteristics of spain with a high private sector indebtedness especially foreign indebtedness supporter go you know if greece if greece could go then portugal could go its rather these are the two countries that are most like most in danger you know if spain were to go for some reason the eurozone would be in danger in real trouble right greece looks weak but that actually puts things in a strong position talk about stockholm syndrome there is a certain certain amount that they become kind of voluntary captives in the system seven european countries that have been only reason democracies like greece and spain and portugal there is a certain fear. among political class it's best to stand up to germany you have to stand up to the c.p.a. to say look unless we get this this rescue done on our terms of even leave the

eurozone and then you know you take the losses i would assume that joni what not like bonds and germany would really be scattered for anyone who leaving the euro zone because there are risks involved and and the german political leadership is very risk averse at the moment so so so i think they will probably have the greeks the spaniards the police probably would have a much stronger hand and then they think. you know if they stood up to germany. so if greece stood its ground. the banks. greece. and. what constitutes one to go down say in the show delta they know. this is the truth six.

months or is that so much seven and there's a huge decision by the french toast divided against itself the sunni shia conflict rages across the arab middle east and beyond is this sectarian division being used .

he is under siege for. destruction without mercy. what could have been just ruins. saved by a great sacrifice. and restored by huge efforts. a remarkable reminder of courage and selflessness. beauty is of more people. the russian the song i. choose your language. because you know if. someone. chooses the least the concerns get clinical. choose the opinions that invigorating the good. choose the stories get into a good life choose to access to your office. live

. live. olympos. her mother.

the speed. her her. mum will. sleep good luck good luck to her mum just see the mummy mummy mummy mummy. mummy i'm a little. you know sometimes you see a story and it seems so for lang you think you understand it and then something else you hear sees some other part of it and realize that everything is ok you don't know i'm tom hartman welcome to the big picture.

in this remote siberians in which people still sing the songs which russians sang in the middle ages and they cherish the practice by the rules that our church before the seventeenth century the old believers here is signed area our conservative community they're known as the simi skia a word which refers to family meeting. the duly elected leaders need there yet again i feel. i know i'm the first to tell you that.

i. people here are happy to show their way of life to tourists and teach them how to dance in the local star. use of prayer and the girl needs to watch her legs don't go up too much during the dance she must be a modest. seventeen year old nanda is from the same village she now studies in the city and dances at a club. she puts on her costume and the traditional amber necklace only when she comes to visit her grandmother. ok. i didn't ask on time for her dad says because i want to keep up to date with this morning world but still i would like to have camp my brain around how my sources layered and this is my treasure very attachment to the church brought not just an

sisters to this remote glen east deflate by called. more than two hundred fifty years ago they were exiled and persecuted for not agreeing to the orthodox who forms introduced in russia in the sixteen hundreds they wanted to maintain their time honored rituals still believers still baal and cross themselves with two fingers not with three as they do in modern orthodox churches in russia and never knew when praying but his father said he says it's not so much the rituals they cherish as the moral principles he does not approve of what ninety's doing is akin to an old believe a woman must never show had naked legs and because this thing started spoiled during the soviet union. was more and more young people leaving for big city it's the fear is the old believers culture could be imperiled nowadays young people prefer urban life to devoting their life to agriculture but it's not necessary to

leave the insides for us to remember that and try to think that no you know your plans to continue her studies abroad to grandmother says wherever she goes as long as the jews are fresh in her memory so is the culture ok.