that's helping the markets today we've got for example here in london barclays is one of the top prizes of the day so we are seeing strength in banks but it is like history repeating itself because similar levels of volatility we had three years ago in september two thousand and eight there was widespread short selling bans but over the next month financial markets still dropped another fifteen to twenty percent so again traders in europe at least so far are back convinced the short selling bans are necessary to change anything. so what should the investor do in these troubled times called treasuries and cash are all traditional safe havens for those wishing to stay in equities to buy from a dive or capital markets recommend steering clear of companies exposed to the global economy. that's helping the markets today we've got for example here in london barclays is one of the top prizes in the dice so we are seeing strength in banks but it is like history repeat we apologize for that technical issue that was not the bias but now obviously let's move to the markets in the u.s. the markets

that's helping the markets today we've got for example here in london barclays is one of the top prize them as i said we are seeing strength in banks but it is like history repeat we apologize for the technical issue and i was not surprised but now obviously let's move to the markets in the u.s. the markets make stuff a strong recovery on thursday as the data shows consumer confidence is fall sharply there for the dow jones as i point two percent nasdaq down accoutrement percent. european markets did fall immediately after the opening but have since been mining they've lost a bit of their steam in the past hour the latest french economic growth figures are a cause for concern as they show the years and second biggest economy was stagnant in the second quarter for these are two percent tax two point six percent. analysts take a look now what's happening in russia fifteen minutes before the clothes still looking positive the r.t.s. is up two point three percent so really below that threshold of sixteen hundred points myself one and a half percent now what's moving in my six right now luk

. >> mike: pga tex texas cup playoff, 125 players at the barclays.ld will be cut to 100 and it was shortened to 54 holes due to hurricane irene. new jersey, a little damp. snedeker birdies his first five holes then rolls in a long one on 7. a 61 sends him into the clubhouse with the lead. dustin johnson, shot of the day on four from the bunker. for eagle. nothing but net. gets him to 16-under. matt kuchar came in with the lead. great shot on 14. but shots a 68. two back of the winner and that's dustin johnson. par putt on 18. 19-under for the victory. his fifth career pga tour victory. >>> tennis. the finals of the winston-salem open. final tuneup for the u.s. open which starts monday. the native of nearby greensboro gets it together and takes it in three sets. nascar on deck. the night race in bristol, tennessee, we'll have that for you at 11:00. see you back then, and i guess we can go to a movie or something. >> alan: we'll watch the game later on. one last story. a lot of people filled the streets of oakland for a celebration of asian culture. a

barclays is supposed -- has posted a drop in profits to reduce costs but also cutting out the 3000 jobs this year. hsbc has announced plans to cut 30,000 staff. >> nato says they will send hundreds more peacekeeping troops to cosimo over the coming days following an escalation in violence. some 600 troops from germany and austria will john -- joined the force. serbia has not recognized goes of o's independence. >> ethnic serbs continued to block roads. they have come in their hundreds with no intention of leaving. this is despite an ultimatum from nato peacekeepers. ethnic serbs would like to contain control of 50 border crossings. belgrade has sent a negotiator to the province. once we will continue to fight for our interests in a peaceful way. this is not a ghetto, this is serbia. >> in fact, this is a state recognized internationally. this is a cause of the enduring tension. nato's peacekeeping mission is set to get reinforcements from germany. there is little sign that the latest flare-up is about to subside. ethnic serbs have vowed to continue their blockades until the demands are

the weather a little better in jersey where they're wrapped up a shortened 54 hole barclays. nothing but nut. fires a 6-under 65 for a story stroke victory. matt kuchar's fifth career pin on the pga tour. the 49ers offense pulled a disappearing act tonight against texas. most of their completion went to the other guys. a good night's sleep. woman: which means a little heat to keep us warm. and a good dose of support for my back. some over-the-top comfort couldn't hurt. and our perfect dream factory's been built. you're feeling sleepy already? nighty-night. [giggling] >> mike: the 49ers are hoping to get their offense unleashed against houston but they gave them problems. in the third preseason game, had to love the start. burris, easy money in the end zone. 7-0 niners. rookie water, kaepernick cook -- took over and got his welcome. looking at his receiver the whole way. 73-yard touchdown. it was ugly. starting quarterback alex smith not much better. another interception by troy nolan. here's collins. getting way ahead of it. sorry about that, chief. 73 yards. that made it 24-

thank you for watching "culture ♪ meet cathy, who's lived most verywhere, from zanzibar to barclay squaret patty's only seen the sight, a girl can see from brooklyn heights, what a crazy pair! ♪ cathy: oh my, patty. did you find all your files? patty: finally! who knew it would be this much work when richard and i decided to retire! cathy: well, what are you going to do first? patty: we're heading down to brooklyn heights and start in on that social security paperwork. cathy: why would you do that? patty: what do you mean? cathy: it's so much easier to log onto socialsecurity.gov and file online. patty: what if i need to know how much money i'll be getting? cathy: online. patty: what if our address changes? cathy: online. patty: what if i want medicare too? cathy: online. patty: so, how did you get so darn smart anyway? cathy: online! ♪ when cousins are two of a kind! ♪

golf for horace and fraser is plenty to look forward to despite gloomy weather forecasts up the barclays the first event of golf's fed ex cup playoffs interrupted by rain but the american benefited from an early start to finish. off for the opening round seventy four of one hundred twenty five participants finishing the day fraser among them forty year old thinking a birdie on the sixteenth before ending on seven on for the lead. char. but there are yet to wrap up the round birdie time for jonathan byrd on the fifteenth he did finish the round type or single. the g. and b. just sing also concluded the run and six songs or he would set himself up for birdie on this seventeenth with this at. brings us to the diamond where the yankees have added another stripe of excellence to their history books new york becoming the first team in major league history to hit three grand slams in one game they blew i think this is being oakland athletics the home team well they're actually booed by the local bombs as the visitors rolled out to a seven one lead robinson first grand slam of the day on the sec

plenty to look forward to despite gloomy weather forecast of the first event of the fed explain barclays by the american benefited from an early start to finish as clubhouse leader despite rain interruptions on the opening day just over half of the participants finished their round on thursday for is there among them their old had a birdie on the sixteenth before ending on seven on the four there leads. william mcgirt who charmed match that score above to wrap up their rounds birdie time for jonathan byrd on the fifteenth he did make it through eighteen holes and is now tied for second place. sink hole so finished the round on six on the bar he would set himself up for goods you know the seventy's with that effort. now things are heating up on the form of the want track with eight races left to go this year reigning champions boston the tao is still the man to get sitting eighty five points clear of teammate mark webber the mcclaren pair of lewis hamilton and third and fifth respectively but they are aiming to drive on from their recent great drama for. two and three i thought i was. rea

planted to look forward to despite gloomy weather forecast said the first event of the fat explain the barclays by the american benefited from an early start to finish as clubhouse leader despite a drain interruptions on the opening day just over half of the participants finished the round on thursday for a same on them. had a birdie on the sixteenth before ending on so. to fall for their leads. that score bot they have to wrap up their opening rounds pretty time for johnson bird meanwhile on the fifteenth he did make it through eighteen holes and is now tied for second place. and big victory saying also finished the round on six on the ball he would set himself up for a birdie on the seventeenth here with that africa. and it's all the school for now the news headlines are coming up shortly but first is the weather stay with us. observe nature and discover its beauty. communicate with the wild and learn. test yourself and become free. to. see what nature can give you the. their childhood was overshadowed by this tragedy. these two feel the fear they faced. and remember every second of this nigh

talk golf or horse and fraser has plenty to look forward to despite gloomy weather forecasts that barclays the first event of gold's fed ex cup playoffs interrupted by rain but the american benefited from an early start to finish. after a run one just over half of the suspense finishing the day fraser among them their four year old sinking a birdie on the sixteenth before ending on seven on her for the lead william mcgirt could char much that score but they've yet to wrap up the round birdie time for jonathan byrd on the fifteenth he did make it through it tied for second big for g.n.p. just saying also finished the run and six under he would set himself up for birdie on the seventeenth with this. things are getting serious on the four hundred one truck with eight races left to go this year reeling champion suppression vettel is still the man to catch some eighty five points clear of second place team at mark webber with the mclaren pair of lewis hamilton and jenson button third and fifth respectively the englishman aiming to drive on from their recent great run of form . two and three are

gulf now and dustin johnson won the barclays by two strokes out of a new jersey tournament was reduced to three rounds because of a hurricane that's when the seven year old made up for a bogey on the third hill with excellent out of the bunker on the fourth discard on the day included a total of five birdies. who had been in the hand for the top spot as well before the defining champions five birdies marred by consecutive. and so it seems johnson the found a more consistent on the day with a six on the ball sixty five winning the first fed ex cup play off of and he is now top of the fedex standings as the full two men tres big games for the sound mainland to look prize. and finally went to sportsmen are preparing for the new season including play as one of the most popular games here in russia and in scandinavia bandi but is liked as it may be it is still overshadowed by some more established sports or a small pool of fluid has this story. if you ask anyone outside of russia or scandinavia what is bandy a vast majority wouldn't have a clue however the game is very simple it's just like

in our case, for example, if you compare barclay's today to pre the crisis in mid 2007, the end of 2007, our core exbyty was at 7%. our leverage was at 20 times. 30%. we have 1 billion pounds every day. >> what about the zone in the european economy? what's worse off right now? >>>'s correct to be concerned about the u.s. economy for a lot of issues that have been talked about, and the economy has probably been slow in the first half than most people expected. we look at the second half of the year. there's good news, as well. interest rates have been lower than expected. we had oil off about 10%. we've had a faster recovery in japan after the earthquake and the tsunami and we're looking at 2% of growth in the second half in the u.s. >> thanks to bob diamond. >>> up next on "the wall street journal report," starbucks ceo howard shurlchultz to boycott political donations. can he teach washington about fiscal responsibility? >>> and later, it's time for shopping. back to school shopping. how to find the best prices. take a look at how the stock market ened the week. howard schultz to boyc

goals now and dustin johnson who won the barclays by two strokes on to the new jersey tournament was reduced to three rounds because of the hurricane that's twenty seven year old made up for a bogey on this hole with these excellent eagle out of the bunker on the fourth to start over again proving to no five birdies that had been in the hand for the top spot as well before the defending champions five birdies were marred by consecutive these are. and so it seems johnson apparently more consistent on the day with a six hundred sixty five when he first fed ex cup playoffs and he's now top of the fed extending as the full two men tres begins all the sound the window looked prize . and finally went to sportsman. preparing for the new season including plaza one of the nest gains here in russia and in scandinavia but is liked as a pain beta still overshadowed by some more established sports restaurant portland has this story. if you want anyone outside of russia will scandinavia what is bandy a vast majority wouldn't have a clue how or the game is very simple which is my field hockey playe

golf where we've reached the halfway stage of the barclays the first playoff event all the big money fed ex cup reigning champion mark char the man to catch on the new jersey creams shot all of the day though it belonged to webb simpson the winner of last week's wyndham championship chipping in for a birdie on the seventh he sets nine strokes off the chart of the three men at the top of the leaderboard at the end of her reign affected run long horace and fraser are was one of them but he fell back after sixty nine on friday just saying lies second along with this month dustin johnson big gene saying with just a single card unimpressive seven on the run but it's char who held on to his lead off the playing field country club a six zero in the round of sixty five meaning that floored. the need of both a one stroke advantage heading into the penultimate stage. sticking with golf which is a sport gaining more and more attention here in russia since becoming an olympic discipline that national youth championships held just outside moscow this week proving not to be true constantine to top

barclay's michael gapen explains. >> so, what it's doing is changing the composition of securities that it holds in favor of long-term securities without changing the overall size of the portfolio. what that will do, is on balance, put downward pressure on longer term rates. >> reporter: here's the twist. the strategy also puts upward pressure on short term rates. fortunately, most economists don't think that's much of a concern this time, because the fed has pledged to keep short term rates low through mid-2013. there are other options the fed chief is likely to spell out, including the possibility of more bond purchases. but u.b.s.'s thomas berner points out the downsides. >> the more assets they buy now, if the economy starts to grow more quickly, and they want to unwind it, the longer it will take to unwind it and the more you have for inflationary risks down the road. >> reporter: bernanke is also expected to talk about the possibility of lowering short- term interest rates on bank deposits held at the fed. but economists think it's the least appealing option. >> if short-term rate

to look forward to despite gloomy weather forecast for the first event of the fed ex playoffs at barclays while the american benefited from an early start to finish as clubhouse leader the trade interruptions on the opening day just over half of that the to spend finished the round. among them the forty eight the forty year old had a good view of the seats for ending all seven on the ball all the leads. that are matched that score. that opening rounds were designed for jonathan byrd meanwhile on the fifteenth he did make it through all the eighteen holes and is now tied for second place big vision j c also finished the round on six on that he would set himself all the birds the seventeenth with half. as saying with a goal of the russian you championship has been held that puts him a book club just outside moscow every golf of anthrax more and more attention since has become an olympic sport and based on mental is no exception. for parts. former world number one tennis player you can think of may now become a good role model for young golfers the double grand slam winner was recently crown

golf nala dustin johnson has won the barclays by two shots off to the new jersey to the mental is reducedto just three rounds because of the hurricane the twenty seven year old made up for a bogey on the third hole with this excellent eagle out of the bar on the fourth his card of the day included a total of five birdies have been in the hand for the top spot as well before the defending champions five birdies were marred by consecutive. johnson apparently more consistent on the day with a six on the ball sixty five winning the first but it's cup playoffs he's now top of the fed at standings as the pool tournament trees begins for the ten million dollar prize. on boxing and alexander by kate remains on defeated in twenty two fights off the guy for the bacon w.b. heavyweight title on saturday night's the two thousand and four olympic champion to the bouts on a unanimous decision and is now the mandatory challenger to bludgeon that approach called the younger of the klitschko brothers but key to his belt following his victory over david haye in the unification bout but the thirty five year

golf and dustin johnson won the barclays by two shots off to the new jersey tournament was reduced tothree rounds because of the hurricane it's once a seven year old made up for a bit before the third hole with this excellent eagle out of the bunker on the fourth discard on the day included a total of five birdies matt couture headband in the hall and the top spot as well before they define the champions five birdies were overshadowed by consecutive bogeys own thoughts well it seems johnson apparently morgan says stands on the day with a six dollars sixty five winning his best winning the first but it's got playoff bound he's now top of the fed ex standings as the forward to mentoring is big. games will get ten million dollars prize. for staying stateside in the n.f.l. the dallas cowboys seem to be putting last is wu's behind them after wrapping up a preseason victory at the minnesota vikings former washington's quarterback donovan mcnabb appeared comfortable in minnesota's new offense the veteran found a very very end for an opening for two nine yards down catch them by the cowboys g

golden hour dustin johnson wanted barclays by two strokes after the new jersey tournaments was reduced to three rounds because of this hurricane the twenty seven year old made our. hole with this excellent eagle out of the on the fourth his card on the day so why birdies. had been in the hand for the top spot as well before the defending champions five birdies were marred by consecutive bogies on it's well found thirteen justin apparently more consistent on the day with a six under sixty five winning the first third ex cup layoff it is now top of the stone aimes as the pool tournament race begins for the sound melinda look rising the end of the season. boxing and alexander five it can remains undefeated in twenty two fights after beating ross launch a guy for the vacant w.b. heavyweight title in two thousand and four olympic champion to the ballot on a unanimous decision and is now the mandatory challenger to blood female can reach for the young goal of the klitschko brothers were created in his belt following his big shoulders david hate you know unification pals but the thirty five y

golf now and dustin johnson won the barclays by two strokes after the new jersey tournament was reduced to three arouse because of the hurricane the twenty seven year old made. this excellent out of the ball on the fourth his card on the day so far i heard he. had been in the hand for the top spot as well before the defending champions five birdies were marred by consecutive bogeys on. johnson apparently more consistent on the day with the six on and sixty five winning the first fed ex cup playoffs bad is now top of the standings as the pool tournament race begins for the soundman don't look prizing the end of the season. boxing and alexander five yet can remains undefeated in twenty two fights off to beating roselawn should go for the vacant w.b. heavyweight title the two thousand and four olympic champion to bow out on a unanimous decision and is now the mandatory challenger to blood could reach core the young goal of the brothers with key to his belt following his speech over david haye in the unification ballads but the thirty five year old gave it up as it would have been years bef

golf now and dustin johnson won the barclays in new jersey by two strikes off the tournament was reduced to three runs as hurricane irene makes its way up america's east coast the twenty seven year old made up for a bogey on the third hole against accident after the bunker and. he spoke out on the day before they tied for the five birdies but that fish eye was also in the running for the top prize the defending champions five birdies were marred by consecutive bogus trast and thirteenth while johnson was the most consistent man on the day with a six under par sixty five to win the first set express event is now top of the standings the full twenty eight race begins with a ten million dollars this season prize. and finally russia will get their rugby world cup campaign underway in new zealand against the usa on september the fifteenth though the bears have now lost all four games in the woman top of britain which is on port reports. russia's tour of united kingdom was always going to be tough even though over four sides we played north hampton the dragons we ospreys i'm gloucester were al

golf and dustin johnson wanted barclays by two shots to the new jersey john meant was reduced to three rounds because of the hurricane and the seven year old made up for a bit of the order over this excellent eagle out of the bunker on the field is start on the day included a total of five birdies matt couture had been in the hands for the top spot as well before the defending champions five birdies were overshadowed by consecutive bogeys own feet swell found thirteenth johnson apparently more consistent on the day with a six prostates the five winning his first winning the first but it stopped playoff bound he's now top of the fed ex standings as the forward to an untrained speaking hold it's how million dollar prize. stateside in the n.f.l. the dallas cowboys seem to be putting last behind them after wrapping up a preseason victory of the minnesota vikings former washington quarterback donovan mcnabb appeared comfortable in minnesota's new york found the veteran found a very very important opening for say mind your touchdown pass them by the cowboys gerald sounds ball came up with a

golf now and dustin johnson longer barclays by two strokes to the new jersey on the mantle is reduced to three rounds because of the hurricane it's twenty seven year old made up for a bogey on the hill with his excellent ego out of the bunker on the field he starred on the dame proving big to blow five birdies. who sure had been in the hunt for the top spot as well before the defending champions five grady's well marred by consecutive birdies that's well and so it seems johnson apparently more consistent on the day with a six under par sixty five winning the first better stop playoff event he's now top of a perfect standings. as the fourth to mention race begins the sound may land a look prize. and finally when to sports men are preparing for the new season including players over one of the most popular games here in russia and in scandinavia bandy but as like as it may be it is still overshadowed by some more established sports original portland has this story. if you want anyone outside of russia or scandinavia what is bandy the vast majority wouldn't have a clue however the game is

johnson won the barclays by two strokes on to the new jersey on the mantle is reduced to three roundsbecause of a hurricane that's why the seven year old made up for a bogey on the said hole with these excellent eagle out of the bunker on the field to start over again for the big low five birdies. had been in the hunt for the top spot as well before the defending champions five birdies were marred by a consecutive these are the twelve and so it seems johnson apparently more consistent on the day with a six under par sixty five winning the first big step playoff event he's now top of the fabric standings as the full two men tres begins all the sound so low prize. and finally went to sportsman. preparing for the new season including play as well thought of the most popular gains here in russia and in scandinavia bandy but is liked as a beta still overshadowed by some more established sports original portrayed has this story. if you want anyone outside of russia will scandinavia what is handy but those majority wouldn't have a clue how the game is very simple but just right field hockey

talk golf for a horse and fraser is plenty to look forward to despite gloomy weather forecasts the barclays the first event of golf's fed ex cup playoffs interrupted by rain but the american benefit of from an early start to finish off for the opening run just over a half of the distance finishing the day fraser among them the forty year old sinking a birdie on the sixteenth before ending on seven for the lead. char much thought score but they've yet to wrap all their runs pretty time for jonathan byrd on the fifteenth he did make it through it dean is not tied for second place pick for g. and b. just single so finish the round on six on there he would set himself up for birdie on the seven with this effort. to the diamond we go where the yankees are valid yet another addition to their history books new york becoming the first team in major league baseball history to hit three grand slams in one game they blew out the visiting oakland up lex the home team who were actually booed by the local crowd as this are cool to a seven one lead robinson came those first round some of the damage second

justin johnson won the barclays by two strokes on to new jersey on the mantle is reduced to three rounds because of the hurricane and twenty seven year old made up for a bogey on this hole with these excellent out of the bunker on the fourth the start on the day too big to blow five birdies. sure had been in the hand for the top spot as well before the defending champions five birdies were marred by consecutive these are it's twelve and sixteen johnson apparently more consistent on the day with a six under par sixty five when he first did it stop play off of and he's now top of the if that extends as the full two men trace begins all the sound really and cries. and finally went to sportsman. preparing for the new season including play as well as nest gains here in russia and in scandinavia bendy but as like as it may be it is still overshadowed by some more established sports or poor fred has this story. if you want anyone outside of russia or will scandinavia what is bundy but those majority wouldn't have a clue however the game is very simple which is why field hockey playing online. m

gov now dustin johnson was able to weather the storm with the rain shortened barclays in new jersey the twenty seven year old clinching the title after three rounds of the tournament tremendous hurricane irene makes its way up america's east coast johnson making up for a bogey on the third hole with a girl out of the bunker on the fourth. on the day included a total of five burdens that crucial was also in the running for the top prize the defending champions five birdies were marred by consecutive focus on the twelfth and thirteenth johnson a more consistent man on the day with a six under par sixty five first fed ex cup playoffs event is now top of the standings for torment race begins the ten million diffs season promise. now russia will get their rugby world cup campaign underway against the usa on september the fifteenth however the team's warm up tour of britain probably won't be filling them with much confidence the bears didn't manage to claim a single victory after slipping to four heavy losses which is on portrayed as more . russia's tour of the united kingdom is going to be c

call for a horse and fraser has plenty to look forward to despite gloomy weather forecasts that barclays that first event of course fed ex cup playoffs interrupted by rain but the american benefited from an early start to finish leader for the opening round just over half for the distance finishing the day fraser among them the forty year old sinking a birdie on the six. before ending on seven under for the lead swimmer girths char marched out score but if you had to run the run birdie time for jonathan byrd on the fifteenth he did make it through dean tied for second big g.n.b. just saying also finished around and six under he would set himself up nicely for a birdie on the seventeenth but with this effort. things are getting serious on the forty one truck with eight races left to go this year reeling champion sebastian vettel is still a mountain eighty five points clear of second place to meet mark webber with the maclaurin of lewis hamilton and jenson button third fifth the english men claiming to drive on from their respective recent great run of. it was. really the show of strength

golf now dustin johnson won the barclays by two strokes after the new jersey tone that was reduced to three rounds and oregon irene has of america's east coast well a twenty seven year old made up for a bogey on the third hole with this excellent eagle out of the bunker on the fourth . was tied on the day he did a total of five burgess but not too sure was also in the running for the top prize the defending champions five bird is were marred by consecutive bogeys on the charts inserting and paul johnson was more consistent on the day with a six under par sixty five when the first fed exed after event is now top of the standings for two in the race begins with a ten million dollars and susan violence. boxing and alexander that can remain undefeated in twenty two fights after beating was lunging for the bacon stubby a heavyweight title and two thousand and four olympic champion sebastian a unanimous decision to become the number two challenger to the new mexico young man of the disco rather they cater to the styles after taking it from david haye the unification back but the thirty five

golf man dustin johnson won the barclays by two strokes after the new jersey tournament was reduced to three rounds as hurricane irene heads of america's east coast well a twenty seven year old made up for a bogey on the third hole with this accident and he got out of the bunker on the fourth. and was proud of the day he did a total of five burgess but much to show was also in the running for the top prize the defending champions five but is were marred by consecutive bogeys on the trot inserting it while johnson was more consistent on the day with a six under par sixty five to win the first fed ex cup qualifier event is now top of the standings as the full tournament race begins the ten million dollars under susan clients. boxing and alexander put it in remains undefeated in twenty two fights after beating last month for the vacant a heavyweight title the two thousand and four olympic champion took the bat on a unanimous decision to become the mandatory challenger to make which go beyond that its goal rather like peyton to start after taking it from david hayden unification back but t

in russia also and when it doesn't yes chairman of the board of directors at barclays corp michael our franka he's an analyst at ferus and stephen cousins he is partner in the p.p.c. group in the moscow office of c. m. s. oh ok we're never going to go to you first give me the bad news just how bad is russia's infrastructure in two thousand and eleven. that ok not so excellent and in a way a lot of opportunity to improve our position in a way like this project there's a lot of challenge for you starting from a low base you say not so low but it's not enough yes and in a way we we are already we are ready to help but exactly plan how they realized this project in this case because of course there was you said what you have no idea what it will be next time it was not but not enough like all projects around we start with this position and they have to improve that situation ok let. me know what are you betting your sector if you're in the electricity sector i think we have number of targets on one target we're going to bring in new or stick not because verse three have to benchmark agains

in russia also live cousin yet chairman of the board of directors at barclays corp michael franca he's an analyst at ferus and stephen cousins he is partner in the p.p.c. group in the moscow office of c. m. s. oh ok we're never going to go to you first give me the bad news just how bad is russia's infrastructure in two thousand and eleven. ok now one percent excellent and in a way with a lot of opportunity to improve our position in a way like this project has a lot of challenges so you're starting from a low base and you're saying not so low but it's not enough yes in any way we we are ready we are ready to help but exactly planned how did it all last with projects in this case because of course there was he said what you have now and we have no idea what it will be in next time it was not but maybe not enough like all projects around the start of this position and they have to date improve the situation ok well you know they're going to you're optimistic not me no wait are you betting your sector you're in the electricity sector i think we have number of targets here one target would

in russia also a cousin yet chairman of the board of directors at barclays corporation michael our franca he's an analyst at paris and steven cousins he is partner in the p.p.c. group in the moscow office of c.m.s. oh ok we're never going to go to you first give me the bad news just how bad is russia's infrastructure in two thousand and eleven. ok not the one percent excellent anyway because a lot of opportunity for all opposition anyway like these projects there's a lot of challenge so you're starting from a low base and you say not so low but it's not enough yes in any way we we are ready we are ready to play exactly how we realize this project this case with up of course as he said what you have no idea what it will be in next time course not but not enough time like all projects are out we start with this position and they have to improve the situation ok with a little bit you're optimizing or you know what are you going your sector if you're in the electricity sector i think we have number of targets one target we're going to bring in new was the call because obviously we have to ben