germany's blue-chip dax closed the session down by 3.23%. the euro zone 50 folollowi suit. across the atlantic's, the dow jones industrials in negative territory by more than 2%. >> 7 billion and unng the world has reached a milestone. one of the babies fromhe philippines has been chosen to recognize the number. the 8 billion markets closer than you might think. >>she was born shortly -- shortly before midnight in the philippine capital of manila. ahffiarent a cake to the proud officials. she represents a global population milestone, and unlike many ohe prsn the philippines, she is already off to a privileged start. her unreal title as e veh billionth baby comes with a college scholarship. but the world is concerned the world population is growing too quickl china is still the most populous country with 1.3 billion people, but china is expected to spa china in just one decade. they warn of the challenges of a growing population. >> we wanted to decrease population growth through education and planning. >> just 12 years ago, of annan and welcome the world 6 the billionth bab

. >> more on these stories we check with dax holt he joins us live from l.a. this morning. dax good morning to you. >> good morning. >> we are sad heavy d was one of the good guys. >> he really was you know one of like the nicest guys out there, always so friendly to our cameras everyone just really loved him and yesterday apparently he was headed home after doing some shopping, got to his complex was walking up the stairs having a hard time breathing, slumped over one of the guy that is live there, is a designer saw him he said i can't breathe i can't breathe so they ended up laying him down into this guy's lap and called paramedics the call was made about him being unconscious by the time paramedics got there he was talking, breathing, they got him over to the hospital he had a pulse and then passed away around 1:00 p.m. yesterday afternoon, some people in the complex seemed to thing it was a heart attack we cannot confirm that we have to wait for some time of coroner's report to tell us what happened, we do know he was suffering from pneumonia, recently, but you know obv

all of the shares in the dax were on the losing side. people are fearing real consequences for the real economy out there, if you will. banks are the hardest hit. it could have an effect on credit and dampen the economy. >> let's take a quick look at the markets. beginning in frankfurt, where the dax closed down 5%. it had been as much as 6% lower today. another index closed about 5.5%. but the dow jones industrials closed in negative territory, down 2 3/4 of 1%. the first day on a new job is always daunting and perhaps even more so if your job is to hold the eurozone together. mario draghi has taken the reins of the european central bank, taking over from jean-claude trichet. draghi as indicated the ecb will continue its highly controversial program -- has indicated the ecb will continue its highly controversial program. >> we will have more on that later. israel has hit back against unesco's decision to except palestine as a member -- accept palestine as member. israel is suspending the transfer of tax money to the palestinian authorit

after a volatile week, the dax finished firmly up, and positive territory.e is the report from the frankfurt stock exchange. >> on this last trading day of the week, hope returned to the stock trading floor. the dax had lost for a while, up to 4%, but ended trading on friday night with a weekly gain. the plans for austerity in italy were one reason for the good mood, just as consumer confidence in the united states, which proves to be stronger than anticipated by economists. and strong earnings reports came in, for example, from a steel maker and from the hamburg port operator. >> we will stay in frankfurt for a look at friday's numbers. the blue-chip dax went into the weekend up by 3.2%. the euro stoxx 50 also looking solid. across the atlantic in new york, the dow having a very strong session, up by more than 2%. and currency markets, the euro trading at $1.3738. europe's largest insurer is a feeling the effects of the debt crisis. allianz's profit fell much more than forecast, dropping 258 million euros, compared to nearly 1.3 billion a year ago during th

. >> time to check with tmz is that dax?t is dax. >> good morning. >> all right let's talk justin bieber we were all wondering what really was going on, and now it sounds like they are like okay, you are going to say that, you are going to say i am the dad, we will sue you. looks like someone backed down here. >> come on from the beginning there was something fishy about this whole story this woman claiming that he is the father of her baby i mean nothing was really matching up and bieber came out and said fine i will take a paternity test just to prove you wrong and once it comes back negative then i am going to sue you and your lawyers and everyone involved because this story is so ridiculous after he threatened that she decided to back down she removed the paternity lawsuit and the interesting thing that i think is more telling is the fact her lawyers quit her and said nope we are no longer going to be your lawyers. i think there was a major flaw in this story and i think the lawyers did not want to risk a lawsuit on them

. >> when you look at the dax, you are inclined to say, what a great day. indeed, the mood here is still a very negative one. pessimistic. the shock is still there. greece announced that it would hold a referendum over the bailout conditions. people say, how are we supposed to bridge the time between now and that referendum would so much insecurity? one is looking for some sign of hope, reassurance, from the summit in cannes. >> the u.s. federal reserve has slashed its forecast for economic growth and raise projections for unemployment. the fed now says gdp growth will come in at about 1.6% instead of 2.7%. it has put monetary policy on hold. ben bernanke suggested the euro debt crisis holds large downside risk to the american economy. he also said conditions were improving, the pace of the recovery is frustratingly slow. let's take a quick look at some markets numbers, beginning in frankfurt. the dax finished the day up 2%. across the atlantic, trading has ended as well. the dow jones industrial closed up by 1.5%. german retail giant is in talks with sever

the dax made up almost as much as it lost last week. the reason that these so-called the lead bonds would allow germany and france, may be the traders here, to put through their idea of how the reforms should look in the countries that are taking money from the rich countries. reports were denied, but still people want to believe in that kind of story for stabilizing the euro zone. a report denied, incidentally, that the international monetary fund would provide up to 6 billion euros to refinance italy in the next few months. >> let's have a closer look at closing market numbers. frankfurt, the dax closed up, almost 5% up, over 5% at 22.21. new york, the dow industrials are currently going over to% -- going up over 2%. despite the good newt -- good mood on the markets, the belgium and italy rates shot up at the bond auctions. belgium managed to raise 2 billion euros, but had to agree to a 5% return rate on 10 year bonds. compared to 3% one month ago. italy faced similar woes. they had to pay 7.2% for 12 year bonds. two percentage points

the blue-chip dax closed almost up 5% preferredthe euro stoxx 50 was 4% higher. in new york, the dow industrials were higher. and the root is trading at $1.3436. -- and the road is trading at $1.3436. >>> germany's finance minister said wednesday that germany is open to increasing the international monetary fund resources to bilateral loans. that reverses the stance that bergmann took earlier this month at the g-20 summit, but he said the ecb printing presses will not solve the crisis. >> the german finance minister is steadfast that fiscal discipline is the key to solving the crisis. he opposes extending the powers of the ecb to help member states. >> it would buy a few months relief but not solve any problems. >> some of his colleagues see things differently. sweden says the ecb should step up its role, given the low inflation risks in the eurozone. >> price stability is secure in europe, so there is removed -- room to maneuver. >> the eu finance ministers are doing all they can to save the common currency, the time to come up with a response is running out. >>

it the dax went down 1%. there has been some good news that helped lift shares from the lowest levels today, especially job market data from the u.s. helping a lot. >> looking at the numbers come starting in frankfurt, the dax index finished thursday at 1% lower. the euro stoxx 50 also down. in new york, the dow jones industrials finished lower, 11,740. >>> but that of the united states surpassed $15 trillion, during the country's annual gdp. a bipartisan committee is open to reach agreement on deficit reduction measures prior to next wednesday's deadline. a minimum target as 1.2 trillion dollars. the parties have been squabbling over the size and types of cuts, and democrats insist on higher taxes for the wealthy. >>> in new york, thousands of demonstrators have been marking the two-month anniversary of the occupied wall street movement in the financial district. they're protesting the power of banks and corporations. in an internet message, the organizers called on demonstrators to block the financial distr

the dax fell 4%. traders were not sure the summit deal was enough to do the trick before the announcement. it now adds more uncertainty. >> they will say no, and good news, because they have to go out. otherwise, i see an end to the eurozone. >> a note of surprise in the german government reaction. they say it's a matter for greek domestic politics. they say they do expect greek obligations to be met. >> germany's economic minister until recently said it sounded like greece was trying to wriggle out of the deal. one can only prepare for the insolvency of greece. if it does not fulfil the agreement, turn the money off, he said. even in greece, there was some surprise at the decision to hold a referendum. >> [speaking foreign language] >> error calling for a referendum after everything has been decided. why are they doing this? i do not consider this right. >> leaders of the world's 20 most powerful nations gather in caan at the end of the week amid the tightest security. they will have more to worry ab

in frankfurt, the blue-chip dax closed up almost 1%, 5799.e euro stoxx 50 closed up just over 0.5%, 2234. in europe, the dow industrials are going up, 0.5%, 11,582. and the euro is treading for $1.3326. before germany's finance minister left for brussels, he gave testimony to the country's highest court. constitution court judges are considering the legality of the special parliamentary financial commission pit of the government said it up to decide on eurozone rescue funding, but two opposition lawmakers say the commission which convenes in secret makes a mockery of parliamentary democracy. >> to what extent should german lawmakers have a say in the country's response to the euro crisis? an urgent confidential decisions be decided by nine-member parliamentary committee instead? those are questions facing the judges at the constitutional court. the opposition lawmakers who brought the case say it is a fundamental issue of democracy. >> the electorate quite rightly expects important matters to be decided by the lawmakers they have elected, a s

the dax finished down by 1.4%. the your socks -- euro stocks 50 also finishing out -- down. on the currency market, the euro trading lower at a value of $ 1.3330. nokia has announced plans to cut 17,000 jobs within the next two years as part of a radical restructuring plans. the cuts at the finish german partnership would amount to almost 1/4 of the firm's jobs. the move is designed to cut annual costs by 1 billion euros. observers said up to 1/3 of the work force based in germany could be affected. >> thanks. the yemeni president has signed a deal to hand over power, ending 33 years of rule in the country. he would hand over power to his vice president in the saudi capital. a spokesman for yemen's opposition, protestors rejected the deal and have called for demonstrations. protesters have been on the streets of the capital since january. bahrain's king pledged reforms after it was found the security forces used excessive force and torture detainees in a much crack down on protests. hours before the reports were released, clashes continued. dozens of young people in a majori

off by a quarter percent for the xetra dax and the paris cac current off by 0.5%.nt gains for the zurich and the smi. andrew? >> having said that, investors in this part of the world seem to be buying. wall street had a strong run on friday and that rattled through to the asian markets, obviously encouraged by developments over the weekend in italy. all the major indices finishing healthily high. the nikkei up 1%, after japan unveiled its latest economic growth numbers. the economy expanding by 1.5% in the third quarter. which is a healthy number if you annualize that. extrapolate that growth after a four-year, that means the japanese economy is growing by 6%. that growth being helped a lot by a rebound after the march tsunami, the earthquake and tsunami which really hurt manufacturers in large parts of the country. as i said, hong kong and shanghai up almost 2%, australia up but not by nearly as much. now, in other news, the shanghai stock exchange says that foreign companies will soon be allowed to sell their own stock in mainland china. that could lead to a numb

the blue-chip dax finished down by more than 2%. the hero stoxx 50 indian down 4.3%.n new york, the dow down by more than 3%. 11,801, not looking good. the euro trading in the value of $1.3544. a german government panel of economic advisers is now also predicting that the eurozone sovereign debt crisis will put the brakes on german growth next year. the so-called panel of wise men says the eurozone is caught in a vicious cycle and then not even europe's leading economy will be able to escape. >> a big read for the chancellor, 300 pages in which her economic advisers bisect the iraq crisis and germany's economic situation. there find it -- and dissect the year of crisis. this year, analysts expect robust economic growth of 3%. 2012 will be slower, with the economy growing at less than 1%. still, they do not expect the jobless rate to rise to the report says unemployment should stay below 3 million in 2012 it policymakers get a grip on the eurozone debt crisis. >> in an age of global capital and monetary markets, anyone wanting to reap the benefits of open markets must

is down one point nine percent declines on the dax are led by deutsche bank and i'm sure. they're moscow the markets are down also with the one point two percent lower than my six hollow percent know so the situation has improved since we last looked at it still banks some of the biggest losers with burbank declining almost a percent make up the vast here's a low up around two percent that's despite reporting a boost of net profit to why five and a half times of poor russian accounting standards quarrel is also down half a cent on the world. that's all for now the headlines are next with that do stay with us. five thirty pm in moscow these iraqi headlights peaceful protest but a rough response to your.

usually it's the dax. today we have the cac 40 up to the tune of 0.75%, partly because a number of the french banks are the ones that everybody is worried about. they're the most exposed to greek sovereign debt. we've also gotten over the strong performer in today's session. it is financial stocks. let's look into some of the french banks in particular. paribas up to the tune of 7.5%. is one of the banks particularly exposed to potential writedowns coming from greek sovereign debt, also deutsche bank as w l well. that bank up as well. one of the reasons we have the dax up 2, a little bit less than the cac 0. we have big rallies for the likes of alpha bank in greece and ing, this company is largely moving on the back of earnings forecast. it's third quarter earnings beat analyst estimates. as you can see it's up to the tune of 10% in the first 11 minutes or so of trading. in the meantime, let's move along and talk about asia. investors broadly speaking picked up on the positive sentiment we saw coming out o

certainly the london ftse and xetra dax are off. a bit of a selloff going on in the eurozone, andrew. >> after pretty good numbers yesterday, charles, we've seen a pullback here in asia today, not surprising at all given there were those low numbers in the eurozone and also on wall street overnight. this is how the region's leading indices ended up. we've included india. i'll get to that in a moment. certainly the rise in bond yields suggesting there's still plenty of moves to watch in the eurozone before this finally settles down. you've got the nikkei down by about three-quarters, hong kong by about 4/5 or so. shanghai is flat. australia down by .5%. one stock defying gravity is king fisher airlines. it jumped more than 5% on monday. despite announcing today it lost twice as much money in the last quarter as the one before, it's still gained in trading today, up by almost 1%, even though some commentators are saying the airline is close to collapse. on the broader market, the sensex still down by more than 1%. charles? >> okay. in

the last time we looked it was the dax. speaking it is those euro zone markets that yet again, one day after the next, are suffering the most. >>> absolutely. a very similar picture on this side of the world with a notable exception of the australian markets which finished higher today. as you see there, australia up by almost 0.5%. shanghai, you'll note, the standout, down more than 3%. and that's in response to a comment from one of the economic leaders in beijing that don't expect any easing of monetary policy. don't expect interest rates to come down any time soon. if there's going to be any movement on trying to keep the economy motoring along in china, it's going to come through fiscal means, not through the monetary policy which is things like interest rates. that certainly didn't impress investors in shanghai. the broader issue here remains what's going on in europe, particularly the financial stocks, the s&p downgrade not helping much. and just as i said, australia was up there. energy resource stocks leading the g

third quarter of growth figure the footsie is a powerful percent of all the dax is down just a notch after spending much of the day in the black coat was back was topping the losers list on the dax down over eight percent. and here in russia stocks finished in the black my six has pared four point eight percent decline on monday the biggest in seven weeks let's look at some of the movers on the noise six banking stocks among the gain is on tuesday would be ending point eight percent in the black adam kalos point two percent of the mining companies looking to buy an australian. producer of flinders mines and fertilizer maker. is among the talking is that it's reported an almost three fold increase in net profit for the first nine months of the year. well equity markets are extremely volatile and nesting in or related stocks could prove a good strategy that's according to whether you can provide creative there isn't really a seed have in one markets you can find a relative shelter in russia and from that point i would recommend the oil and gas sector the oil has been particularly resil

it's actually point three percent no one in europe but pretty similar situation for one percent the dax still in the red. euro zone debt worries once again weighing on investors all eyes are now on rising spanish and italian bond yields and declines on the dax all that by comments by and i'm sure it's. very most of the day in the red russia and some day slots to also see declines on the bisects we see. in financials mostly people paid managed to completely recover by the end. point six percent at the close one of the biggest losers after actually losing one point three percent the company did its russian accounting standards and net profits to more than five and a half times a year in the first nine months but that does not provide support why people visit and luke oil is up one point three percent one of the biggest periods of the day. russian car maker gaz as reported a profit for the first half hour for twenty eleven that's actually after reporting a loss in the same period last year net income reached almost fifty million dollars where the company benefiting from higher demand gaz w

is back to positive territory the dax is still down where you. right comes back to an audience. this is the closing picture in the russian ends of the day flights to cause it's if wealth very most of the session in the red declines on the money six were led by financials but the government managed to recall that and actually end point six percent in positive territory after val's one of the new game is up to close actually one point three percent down that's despite posting its net profit through russian accounting standards moving wife and a half full year on year in the first nine months lukoil also one of the biggest gain in the move on the market up one point three percent. all right that's it for now we will be back in around fifty five minutes time with an update so do join me . if. you. feel. the booming. just say. it's the best sex of. the fifi if the big. banks. in the united kingdom is available insists joining us villains from forty one percent the old way even if it's an example so it's a good.

point three percent for the dax it's the session of losses and finally to the closing picture in russia also a similar picture of the r.t.s. my six losing a third of a percent not really supported by the higher oil prices we might see a reaction on the first day they have to however this is on a lucky streak it's up one point six percent in this session magill losing four percent after a pause a disappointing third quarter sales then lost the outstanding gate after announcing a buy back with a sixty percent premium to the market price. in other news the russian government is aiming to cut annual inflation to below three and a half percent liberties and says this could be achieved in the short or medium term as for this year consumer prices are expected to rise by roughly seven percent that's the lowest rate in modern russian history all right that's it from the business desk for today john my colleague a block of us will be here at eight twenty am moscow time. question is that so much given to each musician on the market for serious money as they make them is made out of any military op

european stocks are still in the red the footsie is a half a percent lower so is the dax that's after the bank of england said the u.k. growth outlook has worsened the dax is seeing losses for a day as infinium technology slumped of course then lower twenty twelve so. this is the picture in moscow of both nice legs and the r.t.s. side slightly down this hour let's take a look at what's moving to my sex most blue chips such as financials per bank they're down but it's got a call. my neck is very much bucking the trend with the buyback announcement with a premium of sixty percent to the market price the company is up more than ten percent this is one of the biggest gainers despite though. the mood in europe is continuing to see across international borders and is grain on sentiment here in russia peter west and recommends buying into cash rich companies with high dividend payouts for investors willing to risk a dip in the market go for cash rich companies go for it and i mean you have to guess crafts. com as well even though the corporate governance can be clearly question in this compa

the dax suffering the most.se and zurich smi, they are suffering as well from the same concerns, andrew, we're all talking about euro zone suffering debt crises. ebc is not going to be playing more of a role in the markets. that's why people are worried today. >> absolutely. where do we go from here? certainly those worries that you talked about are very evident eve everywhere around the equities markets. certainly here in asia. all of the indices finishing lower again. european debt concerns continue to worry the markets. financial and energy stocks the big losers in this region. there was new economic data out of japan today. showing that it has returned to a deflationary spiral. consumer prices falling for the first time in four months. compared 2% for the previous month. no stranger to deflation, deflationary situation, really much the last ten years or so. >> yeah, i think many of the people are our generation know that pretty well, andrew. the situation hasn't changed yet. if we come back to europe, hone i

and the flats and the dax is seeing a third day of losses as if any in technology slumped after forecasting twenty two of six. and this is the close in moscow the r.t.s. m i six did not see much support from the high up world prices let's look a look at so what's moving the nice x. pretty much the only company benefiting from those oil prices which was snapped up one point six percent net show the metals producers down four percent as a reporter disappointing sales results for the first quarter and just bought sky is the outstanding gainer was bucking the trend for the buyback announcement of a premium to see a sixty percent premium to the market price it has seen its share prices go up more than ten percent in just one session. cry for more business news you can always log on to our web site that's out forward slash business and i'll be back around fifty five minutes time glad if you can join me. right you clean ghost town. squandered my. one. more than sixty square kilometers an environmental devastation and those who are still surprising me live i'm finding are just good stuff that's get

the dax and paris cac off by 1.3 to 1.5%. and the zurich smi off by 0.7%. yields on italian debt, we mentioned this now, approaching 6.64%, the yields on the ten-year italian treasury bond. have a look at the yield now on the greek ten-year bond. that is approaching 27%. throughout the debt crisis, germany has played a starring role, like it or not, i think suspected as far as the germans are concerned do not like it. anyway, chancellor angela merkel has been the leading lady in this greek tragedy but she's not having an easy time getting greece to accept the terms of its second bailout. so what's happening in germany is absolutely crucial always to this crisis. fred pleitgen is in berlin and joins us now. how is this political drama been playing over the past couple of days in germany? >> reporter: there certainly seems to be a large mood swing in berlin among politicians but also among a large part of the population as well. there seems to be disappointment here in germany as what is obviously perceived to be political wrangling on the part of the greek g

same story for the seat tra dax, still out of the gate. we're seeing identical shape for the paris cac. various things, we've got the eu finance ministers to meet on tuesday. reports are they're expecting to agree on rules for borrowing for the efsf. that is seen as progress, good news. nevertheless, two dampers, one you mentioned, the imf report in terms of a big loan for italy now being squashed by the imf and also moody's warning that the whole european region are at risk due to rapidesque lags of debt and the banking crisis. clearly moody's worries if there's not a decent amount of stabilization here, the risk associated with european sovereign bonds and with it -- by extension with corporate bonds will simply rise and rise on it. >> absolutely. the imf story appeared first in an italian paper over the weekend. by the time the european markets had opened, it had been denied by the imf, but not in asia. asia woke up with the report that the imf may be involved in a short-term bailout for italy. pretty strong gains here and gains we have

the german dax closed today's session up by 2.81%. across the atlantic, the dow tjones industrials have also closed up by 1.76%. the hero is trading for one u.s. $38. -- for $1.38. new alassane has been failing to gain support for the reforms that european politicians say are necessary to keep the debt crisis from spreading to italy. calls for berlusconi to step down are called -- are increasing. >> many people are exasperated with their government and one nekmji@ c13 >> it seems to me the present situation was created by the government. it's their responsibility. >> what torture. we cannot take it anymore. >> i think there needs to be a change because the creek -- the situation is critical. we have to start over and make a lot of changes. >> prime minister berlusconi's cabinet approved reforms on wednesday to shore markets and the eu allies that the country is moving forward on cutting spending. germany and france are looking for action from the left on a, not just promises. >> back with more news in one minute. >> let's go to califo

the dax, 1.2% lower. across the headland, the dow jones at 12,056. deutsche bank says the ceo will not seek to become chairman of the advisory board next year. the company said the supervisory board recommended instead. he has led the bank since 2002 and plans to step down in may after the company's annual shareholder meeting. the cadet -- prosecutors searched the bank's offices in connection with this testimony in a long-running court case brought against the bank. his company went bankrupt in 2002. portugal's economy continues to cause concern. gross domestic product shrank by almost half of% -- half of a percent. output has fallen 1.7%. the downturn is the result of slow export growth and a significant reduction in investment. officials expect the economy to contract again next year. >> the man accused of -- brevik admitted killing 77 people at a youth camp, but he denied any guilt. claiming he was a military commander of the right-wing movement. >> the hearing took place in this district courtroom. it was open to the public. the judge did not all

the dax lost five days in a row and ended up in negative territory. the bond markets have soured the mood on the frankfurt floor. investors fear that the turmoil will continue and a focus on spain because the yields go up above 7%. this would mean that there is a possibility that spain may need the help of the rescue fund. >> let's have a look at the market to figures. in your, the dow jones industrial making slight gains. a new greek government has unveiled its budget for the coming year. athens helps to reduce its deficit to 5.4%. private creditors will have to agree to a 50% write-down. the country is in the midst of a recession and gdp is expected to contract by 5.5%. it will take some time before the economy rebounds. russia signed a major trade pact with its former soviet neighbors on friday. the new block will coordinate trade and economic development between the three and as part of a plan to create a larger eurasian economic area. the russian president invited other countries to join the union. >> the president of russia and cause extent met

it was applauded when the german dax reached positive territory. the mood remains highly nervous. the record yield italy has to pay for fresh money demonstrates the ongoing mistrust. traders back this week with a very bad feeling. >> we can stay for a clot -- a closer look at friday's numbers, and then a look at the blue chip. the euros stocks 50, also finishing -- eurostoxx 50. across the atlantic, the doubt finished a shortened -- the dow finished a shortened session. the russian prime minister vladimir couldn't announced a $14 billion -- vladimir putin announced a $14 billion rescue plan for belarus. russia wins complete control over the belarus's gas pipeline network. >> the bill russian president alexander wishing go -- desperately needs russian assistance. prime minister putin pledged support. >> on average, european customers will have to pay for in dollars per cubic meter of natural gas next year. the price for belarus will be $164. >> in exchange for the discount, the russian energy giant gasprom will take control of the gas pipeline. >> it is certainly clear who was domi

. >>> staying in frankfurt, for a look at thursday's numbers, starting off with the dax. that is up by 0.6%. atthe euro stoxx 50 up. across the atlantic on wall street, the dow jones looking solid, but 0.75%. and the currency market, the row trading higher against the dollar, >>> $1.3590. amid all of the bad news and turbulence, there are some encouraging signals coming from portugal. the euro group chairman does not expect lisbon to need a second injection of bailout cash because of portugal's efforts to meet its budget goals. they began debating planned austerity measures thursday. the package includes tax hikes and wage cuts. the government has a comfortable majority in parliament and the bill is expected to pass easily, especially since opposition groups have pledged to support it. >>> the boss of siemens says he does not see a recession looming and expects his engineering giant to post moderate growth in 2012. he also sees sales topping 100 billion euros per year in the medium term. for the past fiscal year, siemens just posted record operating results, with global o

it's the dax that is powering ahead, up this excess of 1%. all of this follows gains of around 1% across the board on tuesday. the current numbers show us that we could be seeing a second day of gains. in particular, if we move along to italy's main index, the ftse closed higher yesterday. it's also opened up about 1% higher on the day at the moment. though we're not showing you that yet. >>> we also want to show you the price of gold. this commodity has been rising yet again. rose above $1,800 to hit a seven-week high on tuesday. safe haven for investors amid all of this uncertainty. it's actually slipping in today's session, down to $5.83, price $1,783.10. andrew. >>> nina, they've been calling it the berlusconi bounce in that anticipated exit by the italian p.m., certainly acting asian markets today. they, of course, now closed. two days of losses as global fears about europe's sovereign debt crisis. china's slowing inflation, this is a big number, and it was fueled in large part by declining food prices. now, china's national bureau of st