hello that welcomes event to capital with me katy perry will be in this week we're going to be talking about bankers salaries are they still too high we've got exclusive interview coming up on that one also the world's highest paid female athlete finding out who they are thanks forty with kate partridge artie's sports presenter coming in to talk to me about football and business as well as that we got corporate news and checking in at the markets desk with our in-house trader here i'll say that all to come by let's get started with us. because the official figure of sixteen trillion dollars seemed warningly high but according to a study by the university of california america's debt is actually four times higher at seventy trillion dollars so how much does that sum equate to willis compared to the world's most valuable company apple say we go there now as you can see this official figure equates to forty apple empire is bar professor how much

and start is found that the u.s. has over seventy trillion dollars of unaccounted for debts which would make up a total of one hundred sixty five ackles but it turns out that even seventy trillion may be an understatement a former economic adviser for president ronald reagan professor cortical of says it could be as much as two hundred and eleven trillion or five hundred times the world's most valuable company i asked author of street smarts jim rogers if he was surprised by the findings and how much longer such extraordinary debt levels can be sustained i am not proud of routed through the airport books were three one three more about that yes if you were to move us your group but we're going to grow to get it really you trillion if you get out the people there were thirty three hundred and you were there only thirty there is no way that american. they're.

going back to market. but eventually when we start having problems in the financial markets everybody is going to overthrown and they're going to know that american banks are. going to croak even more turmoil in the financial markets credit markets . the currency market going down all of us are a huge wave and moving on to bankers salaries the latest data from the european banking authority is likely to infuriate the average citizen struggling to make ends meet in these times of tough budget cuts the fake is revealed that the bank is at the three heart of the crisis three thousand of them are taking home more than one million years a year in pay and bonuses but most of that cash is being dished out in london's financial center accounting for three quarters of the seven figure salaries in the a year eight germany came in second with one hundred seventy bankers receiving

woman in your is a mall in france came in third with one hundred sixty take so as you can see there's a huge difference between loaned and the rest of the so the question really is all of these salaries justified patrick young right here from t.v. advisers to give me the lowdown on this so patrick i'll start right right there if i may great to have you with us although i justified these huge fat salaries what do you reckon well all one way yes they're justified before everybody switches off and fury let me make that rather clear as to why i'm saying so the whole point to boyd bankers salaries are that they're generally paid in investment banks in relation to high much money they mean it therefore if they make more money they get a higher salary but probably not a lot reasonable principle by which to govern these things however the problem actually lies behind the scenes of what's going on here the reason at the moment despite the economic travails for the rest of your. these bankers can make so much

money is because of the shambolic farce which has been government reaction to the crisis of two thousand and seven two thousand and eight first of all we had the whole situation where governments refused to let banks go bankrupt that was ridiculous all of a sudden banks became part of the government for a moment affectively second of all with a situation where the central bankers many of them former bankers themselves such as the recent arrival mr carney as the head of the bank of england these people the central bankers have simply gone on for the last five years with a frankly in same policy of hounding over money they call it quantitative easing they give away are sets free money free to the banks and they say they're going to help yourselves use this money in order to manage to rebuild your balance sheets so the result is they don't lend to ordinary people they don't lend to entrepreneurs instead they take something they've been given for free they make a lot of money are devitt out of course because of the rationale of bankers'

bonuses because they're making a lot of money they get large bonuses what about the bonus count thank you think that's going to work out so that's going to be introduced in london is not the answer. oh look i mean this is just an absolutely farcical example of regulators trying to do something to justify their political masters who have already managed to mess the whole thing up no they won't work we don't have bonus caps on footballers yet they get one hundred thousand euro as a week for kicking an inflated pig's bladder around a lawn why not because it's capitalism people should be allowed to earn what ultimately they can manage to make a profit that's a very reasonable and sensible assertion by which they could all end up paying more tax evasion and ultimately then helping government no doubt simply will not work all they will do is drive business out of the e.u. they'll go to somewhere like moscow where they've got a very enlightened tax regime and a growing financial center. from d.v. advisors thank you very much indeed for your time today very much appreciated.

russia's controversial economic amnesty law has been back in focus this week the bill means a formal oil tycoon mikhail khodorkovsky and his business partner platter on the better of our serving in nine years sentence for foreign tax evasion charges and will now be released from prison two months early some of the economic crimes that qualify for amnesty include business fraud money laundering and tax evasion this new law has been embraced by the business community seen as a step towards making russia more investor friendly. and outside for some corporate news the owner of russia's biggest our minion producer roussel that a pastor is closing factories across russia i'm a ask the government for another bailout. so you provide a megaphone buys for the operator skull sell for one point two billion dollars. and this week russia's biggest carrier air flight to made the top five list of leading airlines in europe by revenue and now it's time to check in our markets

desk going to find out what's been happening to the russian markets was it moved in this way we got a ferry. thomas i'm afraid generous that we should only give you ten thousand us dollars today trading with an amateur but this is serious business well even if he tell us a lot about it how has the experience well there's good news and bad news as you mentioned i am an amateur so i kind of whether about this from a news approach or a commonsense approach and i figure what do people need what do the like need in this world of metal that's one thing that makes everything go around from aluminum cans to parts for computers so i kind of took a dive because i went to the roof saw the world's largest aluminum company and you talked about a little bit there before and it tanked down seventy percent so very good at all but i'm holding faith because the metals are rallying in fact i was out in

vladivostok this week and talked about looking to the east for the direction of the market china a big buyer of metals with their production is up so i'm looking to metals are going to have some faith in their passkey here but there was also some good news because i looked at the grid companies everybody means power right i mean in fact our television station wouldn't run without electricity i looked at the grid companies there are quite a bit or at least doing ok so i took a bath with metals i did ok with some of the great companies this week ok good stuff said mixed bag next week you don't have the excuse of being a beginner and i want to ask the woman i know what is that feel slave what we got plans what it could be sacked leg right indeed ok again from a common sense approach i was looking at the banks and the central bank basically not changing the lending rate so i'm thinking the financials might be one way to look at that and whenever they financials are study that means oil is going to do well at least in my mind so i'm going to be looking at some well and then also cell

phones right you have one i have one that we all have one people you just live off of these things and so. news about murder for purchasing scarves are expected to do good things are going to go for some cell phone action for the coming week you do that soon thomas thank you very much indeed for that and check in next week we want results for the purposes of arrived racial intolerance just that ok moving on forbes has named dresses tennis superstar maria sharapova the highest paid female athlete for the. million dollar contracts with nike racquet brand head and her own brand of sweep up of a has made a staggering twenty nine million dollars last year despite being the world's number one tennis player serino williams of the usa came in second in the cash stakes with a core twenty point five million dollars and fell

a tennis players made up third and fourth place with china's lead now with an eighteen point two million dollars pay our victoria as a ring of batteries with fifteen point seven million dollars the fifth place it went to a female racing champion danica patrick just a gorgeous woman girl power like it now moving and staying holds the billionaire owner of russia's most expensive football club is kind to slash the budget by two thirds mr solomon of russia's nineteenth richest man with a fortune of seven billion dollars is planning to sell some of the world's top players to achieve his goal and as you can see the stars they do not come cheap now this is a change of tactics for mr karimov who splashed out more than one hundred eighty million dollars last season one of the reasons for his belt tightening could be down to the fact that his potash empire euro calley recently took a battering on the stock market dropping twenty percent after the collapse of the

world's biggest cartel fell through it so for more on what's behind these cuts only the imp. occasions on the sporty side a thing of the three ladies it's here kate part it's all schools tell me what's make these cuts. and i think well first of all gone are the days when angie hit the headlines by signing big name players like samuel eto and villian that seems to be all over and it's not just no longer big signings it's also means wage cuts so all these bigger and as well be going. reported ten to twenty million dollars a year and it's not just the big name foreigners that we're going as well it's also russians the russian football system means there's a quota and you have to have four russians on the pitch at any one time this is pushes up the prices of the russians and their wages so they've got to go to so three internationals they've already left an aging so if you don't have established players where you get to take them from so the emphasis now is going to be on u.s. investment use development as part of the energy project mr karimov said we're

going to put money in local players in local druggist and players and encourage them and they could also be returning to dagestan because currently all angie's players live and work and train in moscow and fly to some eight hundred miles away for the home matches this looks like that could be at an end as everybody goes local or just i mean on the next as i say they're just looking at the league table and the stats the goals and all of that even with all these millions they haven't done. well have to say well that's only really so far this season when the announcement came in four games ago and so far two defeats two draws two points from a possible twelve points adrift in the top already fourth bottom however there's a tendency to look at angie and suliman kareem off and compare him with ramana promote and chelsea well you can't whatever my bitch put chelsea it was an established established history established everything was established angie wasn't and that's face it last year they were title contenders for the first part of the season they ended up coming third there in the europa league beauty is running

pretty impressive for a small club and now they have got to have coming back experience coach to steady the ship from korea so that so it's going to be an interesting season for us but also for angie a part. thank you very much indeed feel time i say it for this week's edition of events a capital you can join me same pesos same time next i have a great anger by. the interview.

and. explains the question really my colleagues and i will never shake mr secretary as hanscom i consider him a war criminal. and are being. played.

a pleasure to have you with us today. when i've done your bush or we expose the three tricks of the wall coming up.