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 to the second week running with service all that succumb 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 first a u.s. so far it is a 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 being people care about fines nearly nine billion dollars then it was commerce 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 partners what is an expert right now i'm joined by on the clock from to me this all this investment bank on

both of the air thank you for joining me today nicholas some a rather glorious moscow ok do tell me we can have a bit of a stroll i think is the u.s. alienating itself is it right to be enforcing such huge fines the european banks and actually all the banks in the world. stark 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. subsidiary of. you was involved as well and on the other hand they have to avoid to respect the international order the u.s. regulations yeah although 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 surprised countries so all you can see all of one somebody who's 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 and the central bank or federal reserve has in is it's all right to 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 the ties 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 heathier backlash towards the dollar if it bought a number of economists are saying that definitely you know trade should be made you know the currency the not just the u.s. dollar i'm not trying to finance minister didn't he the rebalance the thing we had 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 us to use them us as opposed to the u.i. is obviously that's why the euro was introduced in the past days but emission national contracts you can use the currency with you that you won't yeah 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 pay 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 the peg for 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 to take the u.a.e. and saudi arabia by falling on the largest oil producer 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. you know however 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 of a geopolitical speck now than just the financial is a political tool to think the u.s. uses that as well each country you know is using its own tools to influence the others in the gay that are similar to the u.s. as well tools and largest and richest country in the world by phone all right on the clock thank you very much indeed for joining me today from the three 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 and message to finalize the details of the development bank now we've got a ferry i missed so called scott he's in the country just now for

a stop to tell me what do i expect asians 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 there. and i suppose the burning question has to be do we need this bank for the fun. 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 that's purely because traditionally cars however the tide is turning and times are changing and that process could be accelerated by what happens here in brazil a bridge twenty forty k. 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 nikki stadia which right

now is being reconstructed at a cost of seven hundred million dollars and that's to get it up to speed to standard and to facilitate eighty one thousand people to get those take it 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 laborers 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 most a city buildings to this way serbia has signed a two point one billion year i contract with a gas problem that subsidy jury to call them stops these sounds stream pipeline across its territory this is despite the increasing pressure. the e.u.

to suspend the projects because it claims it breaks competition no. question of budget carrier dubrave that has pace paying to loads of flights to use the 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 restructuring. let's go over to the headquarters now and see what tim cabby has been up to on the business desk because he was stuck with sevastopol once again so how did 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 and 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 is to lucius two it contains no animal parts so well i hope you like it because there's 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 it you'll see create can you just talk a story what 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 to the legendary mr tim cabby bad looking forward to seeing you and next week it is time for me to say goodbye from the financial hub of the last day well the financial action and trading takes place by scenically.

this is about making the business survive. corporations don't love your parishioners told the corporations have no feeling. for parishioners to care about you or me corporations or occur for. people come to untouched for sins and leave massive bleeds for the sea come on. we're not going to quit we will not stop until it is done what is more precious music more moving. than this family logic that the united states pursued in afghanistan you know for army relatively unknown a graphic from the jackie deans to soviet that was good enough for the united states and look what happened a couple of here is 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 the pakistanis moved in to fill the void with the taliban that led to the growth of al qaida with all the subsequent consequences this was in the critique of pulling out of iraq as well. we speak your language. news programs and documentaries in spanish what matters to you. use. this story. the spanish. visit.

welcome back you are indeed here in our t. international let's start by saying that germany has won the twenty fourth. world cup defeating argentina one nil in extra time earlier r t correspondent paul scott spoke to us from rio de janeiro. well germany are the football world champions and in securing the title like become the first european nation to win the fee for world cup on south american soil it was a close edgy affair against argentina and extra time was needed to separate the two sides but in the end a cool composed finish for mario go was enough to win it for germany now inside the famous american our stadium behind me there were eighty thousand spectators including german chancellor angela merkel and although the argentina supporters far outnumbered the german counterparts it's those fans who have made the journey from europe who were celebrating on the streets of rio the same thing also inside the

stadium with russian president vladimir putin with the responsibility for the faithful walcott now being transferred to russia who of course host the tournament in four years' time and with the cuts in coming down in brazil twenty fourteen attention is turning to russia twenty eight eighteen my colleague neil harvey is in one of the future host cities. twenty eight hundred fifty five both up later on jan the man of a to be organized. i back in two thousand and ten it was all smiles as russia defied the olds to be nine host of the twenty eight world cup. victories came last three sleep promotional video pledged to develop woman and she's. with another big selling point was russia's ambitious plan to build several new stadia in which will keep games could be plate so four years on how exactly is.