tv Newsline WHUT July 10, 2012 7:30am-8:00am EDT
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containing the crisis. eurozone finance ministers try to work out a a al on how to a a indebted banks and states. european politicians have cut many checks over the last couple of years to help the region's ailing economies. now euro finance ministers have come up with a plan to prop up spain's financial sector. they've agreed to give spain 30 billion euros by the end of the month. the finance chief said the members are ready to provide a bailout worth about $37 billion in urgent aid for spain. the funds will be freed up by
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the end of the month. >> we are aiming at reaching a formal agreement in the second half of july, taking into account national parliamentary procedures, allowing for the first dispersement of 30 billion euros by the end of the month to be mobilized as a contingency in case of urgent needs in the spanish banking sector. on july 20th to finalize their >> the ministers will meet again on july 20th to finalize their agreement on the scale and conditions of financial support for spain. they also agreed to extend the deadline by one year, so until 2014, for spanish lenders to achieve a budget deficit target of 3% of its gdp. >> now we are joined by our correspondent, to explain outcome of the finance ministers meeting, so reiko it's hard to count how many times politicians have met to discuss their credit crisis, so how is this finance ministers meeting any different? >> well, their job was to figure
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out how far they could go to implement the plan eu leaders came up with last month at a summit, and the biggest outcome of this meeting is the result you just mentioned, the multimillion euro bailout for spain's troubled financial sector, however the ministers didn't have enough time to reach an agreement on the greek government's request to ease austerity measures. they have tried to come to terms by september on possibly reducing the bite of spending cut requirements. the delay is blamed on the fact that greece's new government experienced a bumpy start. some cabinet members have resigned and substantial negotiations have barely started. the finance ministers also said that they would release a detailed plan at the beginning of september, for using euro fund to purchase government bonds. this measure is designed to help struggling economies such as spain and italy, but representatives of finland and
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netherlands have expressed reservations about the plan. >> the eurozone debt crisis has dragged on for nearly two years. people might wonder why the finance ministers didn't finish their meeting without finishing what to do list so-called. what's taking them so long? >> well all the members are eager to calm the market, so there's an incentive to seek agreements, but when it comes down to concrete steps, they cannot give their consent so easily because they're using taxpayers' money to rescue other countries. that kind of thing doesn't go over well in prosperous countries such as the netherlands and germany. bear in mind, it took nearly a decade to create the single currency and bank ing and financial integration in the eurozone is proving far more challenging. mostly because of issues involving sovereignty, however, this crisis is already slowing down the global economy, including the united states, china, and japan, and eurozone leaders are striking a deal at
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their summit last month, but government and investors are demanding decisive actions to implement these plans and europeans traditionally take their vacations in late july, but that might not be the case for politicians this summer. >> all right, thanks very much, reiko. the bank of england governor has denied his involvement in the interbank rate scandal. he testified at special committee. suls pe he its suspected of having barclay's making a report. >> do you think, are you aware of libor having been manipulated by 2008 by any bank submitters? >> no. >> you are not aware of it or it hasn't happened? >> we are not aware of it other than what has started to come out of these investigations.
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>> tucker denied the allegation that he asked the former barclay's ceo to report the libor rate lower than what it was in 2008. the bank says, they learned of the phone conversation he interpreted as deputy governor telling him to make a false report. the office has begun an investigation into the libor scandal. a senior greek government official has quit over the handling of austerity measures, the minister for labor social security and welfare resigned. he was also in charge of the pension issue. he said in his resignation letter monday government should have pressed harder to renege gerenege -- renegotiate the bailout agreement. talks have begun over loosening the conditions of austerity measures the eu has imposed in turn for financial support.
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the first member of the new cabinet formed in june to reside over government policy. tax collectors have come up with tax and financial and reduce deficits in line in conditions set for a bailout set by the eu and other bodies. starting next year the new tax will be imposed on transactions at commercial banks, 0.1% of each transaction to a maximum of $25. it's expected to help boost tax revenues to $1.6 billion next fiscal year. hungary has been creative with new taxes, the so-called potato chip tax, targeting food products with high salt or sugar content. hungarians pay a telecom tax for phone conversations and sms messages. other members are eyeing a tax
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to bolster defenses against future crisis. in france, a similar tax takes effect in august to control speculative trading. foreign ministers from southeast asia are preparing for sensitive discussions with powerful neighbor. they have been meeting to talk about maritime disputes involving china. they agreed on their code of conduct for how to peacefully resolve conflicts in south china sea the area thought to hold reserves of valuable natural resources. foreign ministers from association of stheast asian nations are meeting all week in the cambodian capital. the asean members created legally binding rules to deal with territorial dispults. they're discussing the wording of a joint communique that will accompany their agreement. sources tell nhk, officials from the philippines wanted to unclued their concerns about recent confrontations in the south china sea. ships were locked in a standoff in the area for two months.
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the ashaean's leader is aposed the idea. some members of the regional body are engaged in sovereignty disputes with the chinese government. others are trying to avoid antagonizing the super power. palestinian president mahmoud abbas is looking for answers about the death of his predecessor. he ordered authorities to exhume the body of yasser arafat and carry out an autopsy. a media report suggesting someone may have poisoned arafat with a toxic substance, triggered abbas' decision. al-jazeera release aid documentary based on a nine month. and the tv report, revealed researchers at a swiss institute, found traces of radioactive material on the podium and items falt fat was wearing when he died in 2004.
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researchers could not conclusively determine the cause of the lay president's death in the preliminary report, because of the material had dekad. officials will exhume arafat's ramallah in the west bank. palestinian thorlt investigators carried out their own probe after arafat died. but they were unable to identify the cause of the death. palestinians have long suspected he was assassinated. representatives of u.n. special envoy kofi anan are looking to in playment an agreement with the president of syria. and he describes his talks with bashar al-assad as constructive and effective. pushing to end the 16-month-old conflict. >> we discussed the need to end the violence and ways and means of doing so. we agreed on an approach. >> anan spoke monday in the
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syrian capital. this is his third visit to the country as a special envoy. the former u.n. secretary-general did not disclose the terms of the agreement but he says he will share them with the armored opposition forces. annan is now sounding more positive about the situation in syria than he did on the weekend. he told a french newspaper last saturday, efforts to find a peaceful solution had failed. leaders of the united states and other western countries want to remove al-assad from power. but russian officials continued support for the president. u.s. president barack obama has made an appeal to middle-income voters, ahead of november's presidential election. he asked congress to extend tax cuts for another year. >> i believe our prosperity has come from an economy built on a strong, growing middle class. obama wants to extend tax breaks for americans who earn less than $250,000 a year. he says people earning more
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should have a higher tax rate. republican rivals have been calling for across the board tax cuts, even for the rich. republican presidential candidate mitt romney said, raising taxes on wealthy americans will not help the economy grow. obama's tax rate plan will not have an easy time passing congress. it's likely to face continuing opposition from republican lawmakers. chinese workers who migrate to cities from poor villages play a role in china's economic rise. for their troubles most receive, low wages no social security and plenty of discrimination. in this report, we meet a former migrant worker who helps others get a better stake in china's economy.
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>> reporter: since leaving his village he changed jobs 30 times. last year his employer fired him because business was slow. >> translator: more than ten years have passed but i don't have a girlfriend, can't feed my parents. and don't own a thing. >> reporter: most of the migrant workers do not have stable jobs. so they receive none of the social security security benefits like citizens do. improving the standard of living, the 250 million migrant workers, is one of the biggest challenges faced by the country's leaders. this is a shopping center where migrant workers live. a clothing store opened especially for them. a lot of migrant workers shop here because the prices are so
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cheap. they can buy a shirt for only 80 cents. 1/20 of the normal price. >> it's very helpful, economically. >> one of the founders of a nonprofit organization that helps migrant workers. the organization opened the store. once a migrant worker hum se eee comes from the mongolian autonomous region. he wants to help people because he knows how brutal city life is. the stores prices are so cheap because the goods have been donated. now, more than 130 colleges and companies in beijings help. >> migrant workers and donors support us.
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the organization has also helped improve their education. this skillful migrant workers opened two years ago. one rented an old school using donated fund. he uses money from the sale of clothes to pay for the school's operating costs. he has been taking classes here since last december. about migrant workers learn how to fix computers. he things that with more practical education, they will have a better chance of finding higher paying jobs. the classes continue for about half a year. during that time -- the school gives the students a place to live and a daily meal. now he dreams of opening a computer store using knowledge he has learned here.
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>> this its a great opportunity for me. i think it will change my future. >> his activities are widely known on the internet. and by word of mouth. now his organization runs and plans to open two more this year. >> teaching skills can change one's life. we would look to support as many migrant workers as possible this way. >> migrant workers go to cities with dreams of a better life. but the harsh reality soon dashes their expectations. he is determined to help these people restore their lost hope.
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>> we are joined now from our beijing studio. how important is it to improve the living standards of migrant workers? >> there is growing concern that the widening gap between the china's haves and have-nots. migrant workers rioted. a variety of discrimination they endured pushed them beyond the boiling point. for instance in beijing, many of their children can't attend schools where they get accredited education. because the migrants can't afford the fees. he pushes for workers right and tries to make chinese understand the difficulties of workers migrating to cities. china's prosperity often comes on the backs of migrant workers. the country's leaders have promised to take action to help them, but there is a lot of work
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to be done. >> thank you very much there, susumi, u.s. sumi kojima in beijing. u.s. officials must be responsible for the safety of a troubled military aircraft that is being deployed to japan. expected to raise the mish to with leon pan spechlt etta late month. they're expected to stage training flights over wide parts of japan. but many residents oppose the flight, especially at low at tu -- low altitudes. >> translator: japan will ask the united states to ensure the plane's safety in line with our vital agreement on low altitude flights.
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the foreign minister will brief them about the situation if the united states carries out the flights. considering steps to ease local anxieties. people in japan have been wary of nuclear power since the crisis at the fukushima plant last year. an nhk poll, indicates half want to reduce nuclear energy but not aban don't. more than 1,000 people took part in the survey last weekend. they were asked about, government proposals for the role of nuclear power in the year 2030. nuclear power accounted for about 26% of total power supplies before the march 11 disaster. officials have pro posed three scenarios. the first is that japan completely abandon nuclear power. the second, is that 15% of energy supplies come from nuclear plants. and the third is that nuclear power accounts for about a quarter of all energy supplies.
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about one third of respondents of the poll, favored getting rid of nuclear power entirely. 40%, support cutting the rates to 15%. and 12% wanted the rastio to be one quarter. the poll asked about decision to restart two reactors in central japan. 42% had a positive review of the restart. 52% were negative. asked if more reactors sh s shoo back on line. the rest were w undeciundecided. the sound of jack hammers and drills are, echoing, city officials want to upgrade roads and bridges before a meeting in september. gateway for exporting natural gas and oil to asia. japanese companies aren't missing out on the chance to got a piece of all that development.
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nhk world's correspondent has more. >> reporter: last month, a conference was held in malaysia. officials outlined the plan to expand the measure. >> devil offi developing econom demanding more energy. >> reporter: the largest port city in russia's far east. it serves as the country's best for energy exports to asian nations. the russian government has already built a pipeline stretching from gas fields of the coast of sakhalin to vladivostok. and the pipeline from oil fields in eastern siberia is expected to be completed this year. it is part of the country's
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attempt to push all export to asia. to promote these exports and also to prepare for the summer in russia, vladivostok is improving its infrastructure. a suspension bridge, city's symbol, has just been completed. it is the longest bridge of its kind in the world. the distance, between the two main towers is more than 1,100 meters. and the university campus has been built on the region where the epic summit will take place. it will be connected to the city's central district by the suspension bridge. >> translator: an unprecedented amount of infrastructure invests
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have been made in vladivostok in recent years. it is the only city in russia where such huge projects are going on. >> reporter: japanese companies are frying trying to cash in on projects. the machinery maker, developed the gas pipeline that will deliver power to the summit. the gas turbine has an 80%, energy efficiency one of the best in the world w. the two companies are hoping that the summit will prove to be the first step to marketing turbines in the russian province and siberia. >> translator: a gas pipeline has been completed in russia's far east and a strong demand for gas turbines. we have already received inquiries, so we plan to do some aggressive marketing.
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>> reporter: russia is pushing the development of its far eastern region, with rich natural resources. japanese companies are eyeing russia for business opportunities. lots of sunshine here in tokyo. it is getting quite hot as well. time now to check the world weather forecast with sayaka mori. >> let's start with japan. another sunny day. in tokyo the high temperature reached 30 degrees. as of 1:00 p.m. definitely a hot day. things will change from tomorrow. we have got a seasonal frontal line, right now affecting the southern islands of japan. producing heavy rain and thunderstorms. starting to move tonight and spread to the southern half of japan by tomorrow.
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so, wet and a little bit cooler temperatures, will be -- coming in from tomorrow. out towards the best. we have a low-pressure system. and the front producing lots of heavy rain, particularly in the provinces. that will be moving into the whole of the korean peninsula as we head into wednesday. temperatures will drop into the mid 20s in seoul. down towards the south, remaining dry across southeastern parts of china. all right, heading into the americas, we have got two hurricanes, over the eastern pacific. this one right here, with clear, is a category 2 hurricane. emelia. this one right here is category one, system. danielle could get close to the hawaiian island, remnant, later this week. high waves and rough seas a concern along the coastal areas of the hawaii island later this week. as for north america, rain band and the low-pressure system is
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dragging cooler air from the north. as the it does, temperatures are returning to more average levels across the areas, north of the front. but the southwestern corner of the u.s. is a different story. still on the scorching side. 46 degrees in phoenix is your daytime high. on your tuesday. and 30 degrees in los angeles, with plenty of sunshine. the heat is starting to affect the intermountain west, up into central canada. 30 in winnipeg. likely 35 as we head into wednesday. all right, finally. let's go over to europe. several low-pressure systems are bringing unstable weather across the scandinavian peninsula and central europe. let's take a look at some video coming out of hungary, this is northern part of hungary, which was hit by rain and hailstones monday when the temperatures suddenly dropped 20 degrees from 39 to 19 scelsius. rain damaged homes.
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and rain brought extensive flooding. south cenal sweden, a river burst its banks following torrential rain. homes, roads were in undated. the bridge was destroyed. more rain and thunderstorms in the forecast. because a low-pressure system will hover across the same area. to the south. thunderstorms developing from alpine region into eastern europe including hungary where you have seen in the video the risk of hail as well as thunderstorms will likely continue throughout the day. and then widespread showers are affecting much of the british aisles. we have got 19 degrees for the daytime high in london on your tuesday. still on the cooler side here. to the south, heat is building. 30 in rome. 39 degrees expected in athens. here is your extended forecast.
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