the word from these radio me however is that they are all greedy for a ground offensive but that ultimately this is a political decision. for all to headquarters. and we do this with all of the week's big news stories in about ten fifteen minutes not before but couple of ok people be here with more the business. isn't done this same logic that the united states pursued in afghanistan you know from army relatively unknown to graft if they were to soviet that's was good enough for the united states and look what happened a couple of years down the line again the problem with american policy is a lack of staying power after the soviet union left afghanistan the united states essentially forgot about afghanistan that the pakistanis moved in to fill the void with the taliban that led to the growth of all with all the subsequent consequences

this was in the critique of pulling out of iraq as well. it's like you know when the bullets to start. because it's like. so it's almost like there's a the blue and then you just see the big sounds like a base. welcome to venture capital with me casey fielding this week we've come to the halls of the most financial center to talk about the recent tensions surrounding the global. banking industry we've also got coming up on the show our in-house investor

mr tim kirby he's still involved with his metals industry we'll see how he got on the second week running with service all that as well as corporate news and the world cup final takes place in brazil today but in four years time it will happen here in moscow we go to the free stadium where it all kicks off but does the u.s. so far it is they all camping down on the european banks especially at the moment for what they see as violating trade sanctions now this could potentially alienate the u.s. from its traditional allies of course we had the french bank b.m.p. power about fines nearly nine billion dollars then it was called must bank it's thought we find hundreds of millions for breaking u.s. rules now what does this mean for the u.s. could it mean they are seeing themselves from to dish no part as well as the us an expert right now i'm joined by on the clock from to me this oldest investment

banker on birds of the air thank you for joining me today some a rather glorious moscow would be ok do tell me we can have a bit of a stroll i think is the u.s. alienating itself or is it right to be enforcing such huge fines the european banks and actually all the banks in the world. start the u.s. dollar you know they have just no choice they have to apply it to avoid on one hand to their home rules or regulations. because the speech. was involved as well and on the other hand they have to avoid to respect the international order the u.s. regulations in all in this case you know it was something which was. unrelated so it's a very is interfering by the u.s. side because obviously it is a separate culture isn't it to suppress countries so all you can see all of the most important is interfering but on the other hand it is their own currency yeah so as long as you use you know this is a national currency. the central bank or federal reserve has in its alright for the

side of things as it won't be goes its own currency so this is the funny thing with the u.s. dollar is that on one hand it's the u.s. currency on each has to. work as a country rules and policy and currency point that's it yeah and all the other hand it is the currency of the world and is that the problem i do think with a very reliant on the u.s. dollar could we see a backlash towards the dollar if it bought a number of economists are saying that definitely you know trade should be made in all the currencies and not just the u.s. dollar not a french finance minister didn't he the rebalance the thing we have here there but president putin did say that a few years ago already and i think he's trying with the brics countries and to have these kind of alliance with china on to trade already and between different countries already in yuan or in russian ruble or in the indian rupee now what about european companies because some heads of french companies for example have been

questioning why is the rest are against them us as opposed to the u.i. design we see that's why the euro was introduced in the past right but emission national contracts you can use the currency we see that you won't if you want to use euro you can the problem is that it's. first of all the certain you know commodities especially oil and gas are basically linked to the dollar bills and and that's a this is international trade these may change over time obviously about you know you have the gulf and the gulf countries first of all their own currency is pegged to the u.s. dollar so it's basically almost exactly following the u.s. dollar so you know and they are the large by far if you take the u.a.e. and saudi arabia that are just oil produced in the world all the countries also oil producing mexico and venezuela very much into the u.s. as well so some some things you know like this will probably remain for for a long time now however. so there will be people say the reason fights you know

among countries to sort of a number of countries want to get away from the u.s. dollar and the u.s. general you know more so than a union pollers is becomes more a jew political aspect than just the financial is a political tool to think the us uses that as well each country you know is using its own tools to influence the others ok that to the u.s. as well tools. in the richest country in the world by phone all right on out the clock thank you very much indeed for joining me today from the free center of the moscow financial. and to king of global banking well the powers the five nations brazil russia india china and south africa aidid in brazil for the eve of the summit a message to finalize the details of the development bank now we've got a fairy i missed so call scotties in the country just now for

a stop to tell me what do i expect tases and what is on the agenda this week for the first is the development bank or the brics bank as it's going to be basically this is going to be a war chest for times of crisis is going to protect the five countries on their economies is going to act as a buffer if there is a future financial global crisis on the second part is the stabilization fund which is going to help support the emerging economies it's going to be seen as an alternative a rival if you like to the i.m.f. and the world bank let's talk about facts and figures because this new bank this new brics bank is going to have one hundred billion u.s. dollars in reserve and forty one billion of those are going to be provided by china eighteen billion will be provided by russia india and brazil h well south africa will provide five been good. and i suppose the burning question has to be do we need this bank or the fact of the matter is that the emerging. economies are

actually mainly creditors for the developed nations meaning that they are financing the developed countries of the developing world accounts for around seventy five percent of the world's total currency was a watt power of wealth distribution why is very much still with the west not purely because traditionally cars however the tide is turning and times are changing and the process could be accelerated by what happens here in brazil a bridge twenty forty ok thank you very much mr postcards in brazil for us now talking of the country where the final of the world cup will take place today i went along to the stadium here in moscow where the opening game of the twenty eighteen event to take place here in russia. the winners of the twenty fourteen world cup will be announced in brazil today in fast forward four years and it we happening here in moscow for the twenty eighteen a vent the final will take place just behind me at that is nicky stadia which right

now is being we constructed at a cost of seven hundred million dollars and that's to get it up to the standard and to facilitate eighty one thousand people to get a ticket sales coming in in order to make up the price tag which at the moment is sitting at around eight million dollars but it's set to eclipse the brazil prize which was around twelve billion to be the most expensive world cup in history now at the moment only three of the twelve stadiums have been finished so the pressure is definitely on the labor is to build as well as the investors to make money and the football as this goal. right now is scientists in corporate news that find out what's been moving in shaking the mosque a city buildings at this weight serbia has signed a two point one billion year old contract with a gasp from subsidy jury to call them stumps the sunscreen pipeline across its territory this is despite the increasing pressure from the e.u. to suspend the. projects because it claims it breaks competition no. question of

budget carrier dub really has a case painted loads of flights to see beaches but this is due to a failed agreement on the cost of the food services with the city's cocoa apple. precious state and bank the e.p.a. has said it will not take part in a bailout of met the indebted mine has been hit by weak prices for its products and was taping for a convertible bond scheme from the bank the company has already gone through several debt restructurings. let's get over to the headquarters now and see what tim cabaye has been up to on the business desk because he was stuck with sevastopol once again so how does it walk out for the second wave well not as good as the first time i lost sixty five dollars but that's ok i'm still way ahead and waste of money also meant that you had to spend a hundred u.s. dollars on what have you found said last time it was pretty certain what to do.

well how are your thoughts since it's summertime most people in america might have a cool coca-cola or something but here's the summertime drink costs for russia you know i will tell you what's in it because it'll sound unappetizing but tell you two things one solution to it contains no animal parts so well i hope you like it because there are sixty more of these in your office waiting for you but anyways katie i think it's time to find out what we're going to invest in but certainly we can invest in for a crust. maybe both to make squash i forget well let's see is it going to be baltic or is it is it no it's not it's going to be zero rosso diamonds which i believe worked out pretty well but a cross might be cheap but for me it's a lot better than diamonds now tim you've done exceptionally well overall what is you'll see create can you just talk us through a war has been happening plays my secret oh i think. complete and pure luck i don't

know we just put major russian companies up here it could be also the fact that a lot of the really really big and reliable companies trade and the more medium and small sized companies really don't so maybe the selection in russia is a little bit more reliable i don't know. i can say thank you very tame cat. and next week it is time for me to say goodbye from the financial hub of the last day well the fine until apps in and trading takes place get by scenically. when people talk about human rights violations you should evolve some pro western protesters getting beaten up in response with mainstream media is usually to bomb

somebody somewhere so good thing they haven't picked up a story from detroit that the un is calling a human rights violation residents of the motor city or sadly the motor city who are hundred fifty dollars or more behind in their water bills are getting their water shut off completely the water and sewage department is five billion dollars in debt and that is the justification to crack down on deadbeats on the surface the seems like an open and shut case of course everyone has the right to water especially detroit which is near a huge bodies of fresh water that other cities could only dream of but on the other hand if the poor don't pay for water then us taxpayers will be paying for it for them and that's not fair i think this is not so much a case of a right to water but a right to disemployment and a corruption free city government back when people in detroit had good salaries and a government that wasn't flagrantly corrupt they would have any problems paying for their water bills but that's just my opinion.

dramas that can't be ignored. stories others refuse to notice. this is changing the world right. to picture. from around the. globe. this is art international with me kevin owen and more the big stories of the week russia's presidency in brazil the third and final stop of his latin american tour where he's at met with the german chancellor angela merkel with whom we discussed the crisis in ukraine let's get the details in from paul scott is in rio de janeiro now hi there paul what was said.