kitty pilbeam reporting for us there now to some other news in brief around the globe for you this hourhe portuguese government has announced deeper spending cuts two days after the country's constitutional court overruled of several tax hikes as part of this year's budget cuts will be made to social security health and public enterprises the government is struggling to stick to the terms of the seventy eight billion euro international bailout granted in two thousand and eleven the opposition has criticised the prime minister for using the court ruling to push forward cuts to public services and urged the government to step down. thousands have marched in madrid in protest against the country's rampant unemployment smaller rallies were held in. lona and other cities across the country the nation's youth unemployment rate has hit fifty five percent forcing many young spaniards to move abroad in search of better work opportunities spain is struggling through a double dip recession and as one of the worst hit countries in the eurozone crisis . indian police have arrested nine people on sus

the evening it's now coming up to a ten to eleven at night kind of some business then with katie pilbeam i came to know where you got news that of course the world the world finance ministers been meeting in washington also talking about cheese cheese as well so they're going to talking about growth they're really getting the global economy back on track of course but i've also got a cheesy story coming up as always i know you'll like to see like ortiz i'm going to the markets as well also got a bit of scandal too little only going to fight all that into minutes none of this is going to end or yeah here i go after the break i mean. you know how sometimes you see a story and it seems so you think you understand it and then. you hear or see some other part of it and realize that everything is. hard welcome to the big picture. plums. the international airport in the very heart of moscow. can do business with a case of building hey the saving in that mosque i rush is playing host to the g twenty summit spring missing in washington this week global finance ministers and central bank governors

denying that the country would seek a bailout mccullagh to buy more say discuss this very issue with pilbeam from r.t. business and artie's news editor of across. they've been told to come up with one point three billion dollars in order to sort out their banking crisis that i did with my man that actually creates a three percent of their g.d.p. their economy already a contract to buy two percent last year so it just gives you an idea of what the economy the situation is at the moment is the banking sector the problem is that being told you need to recapitalize your banks that's exactly what cyprus was told the thing is they don't have the money to do that they can't afford to do that let me just jump on what yes it is i will what do you make of this woman sees about a billion is measured looks familiar to. me thinks the lady doth protest too much i think might apply here i think you know what i'm seeing is the same old same old from the troika from brussels the same old kind of mismanagement i tell you if i had a hundred thousand sitting in this living in baghdad right now i'd be pretty hap

say ok pilbeam for the business news but scandal tonight someone yes i profile person has been traded this is just yeah i know the details what's going on well it's the sculptural innovation project the officer being raided i'm not going to tell you who i'm going to t.j. you know we love a scandal in business that we love the rich oligarchy we love all the murky real that are coming out you indeed i'm going to go see the markets as well of course i'm going to talk about the i.m.f. figures loss to come kevin after the break of course. i reckon cardiologist dr omar al claims that the war in iraq destroyed iraq's environment even worse than dropping the bomb on hiroshima did dr. puts the data that the number of press cancer cases has grown in the country from fifteen to thirty times cases of congenital heart disease have become fifteen times more frequent case of leukemia have increased thirty fold the doctor puts the blame on the weapons used in the one thousand nine hundred one and two thousand and three invasions of iraq it which nato forces used white phosphorus depleted uranium roun

six people have died so far out of the sixteen affected figures far from an epidemic he is casey pilbeam that's not who might hope to benefit from any bad flu hype. panic is already spreading across the globe over fears of a bird flu epidemic in china twenty thousand birds were slaughtered at one local market japan has health warnings on people coming into the country from china hong kong shares slumped in chinese airline stocks in an attempt to restrict travel vietnam pounds poultry imports from china and taiwan raises quarantine level alerts while the u.s. and china are already looking into creating a vaccine for this specific type of bird flu drug producers are already poised to jump in produce a cure at a price of course now let's look at the example of britain in the swine flu epidemic which cost the british taxpayer one point two billion dollars asked the government panicked and splashed out billions on vaccinations pharmaceutical giant glaxo smith kline secured a billion dollar contract from it make you a billion dollars from vaccines alone last year i reality four hundred fifty s

remember past bird flu and swine flu outbreaks in the attention they grabbed across the media katie pilbeam has more on the hype. the panic is already spreading across the globe over fears of a bird flu epidemic in china twenty thousand birds were slaughtered at one local market japan has a health warning some people coming into the country from china hong kong slumped in chinese airline stocks in an attempt to restrict travel vietnam bans poultry imports from china and taiwan it raises quarantine level alerts while u.s. and china are already looking into creating a vaccine for this specific type of bird flu drug producers are already poised to jump in produce a cure at a price of course now let's look at the example of the swine flu epidemic which cost the british taxpayer one point two billion dollars off of the government panicked and splashed out billions on vaccinations pharmaceutical giant class a smith kline secured a billion dollar contract from it making a billion dollars from vaccines alone last year i reality four hundred fifty seven people died from swine flu a third of which di

to pilbeam looks at the growing gap between rich and poor now during these times of economic uncertainty is comforting to know that the filthy rich are getting even a filthy or richer i should say the pace so i'm not disrespecting these privilege folk but i'm talking about the euro zone's poorest a quantum is portugal italy ireland greece and spain otherwise known as the paix according to forbes magazine there are now seventeen more billionaires than there was back in twenty eleven with an increase in net worth of more than ninety billion dollars but the reality is the poor are not improving their situation at all three of these countries have the highest unemployment rates in europe with rates even was then a year a guy with unemployment rates increasing and nineteen member states and for laying in just eight. so while the poor struggle to make ends meet the rich remain whole in a world where corrupt bank is get belle's owls and big corporations move label operations to third world countries to take advantage of cheap labor which means the task of getting a job even tougher so the debt

pilbeam. moving on china's foreign exchange reserves have reached three point four trillion dollars that's roughly the size of germany's economy and that's an indication that money is once again flooding china which is no surprise considering how much money the united states and japan are now printing in an exclusive interview to business r t a legendary investor jim rogers explained the consequences of all of this for the world's second largest economy. yes there's a lot of money going into china it's partly china's fault that their currency is blocking everybody expects the concert to go up so they want to invest this is causing problems in china because it adds to implosion you have all this money sloshing around it's trapped there can i get out so china is hardly the blame for its own problems whenever you have too much money sloshing around obviously some of it gets lent or invested in places that are probably not going to be good it's been demonstrated many times all over the world throu

the world's three largest transport companies and an exclusive interview to business artie's katie pilbeam ukraine and says investing in infrastructure in a country like russia is always a winning bet. we need to develop infrastructure really as this huge territory huge country we need infrastructure to support their plans to develop economy to support the plans to develop social sphere to provide people with easy way to communicate you know anywhere they want to go dead to real give a boost to develop you know transportation the transparency of the manpower to do regis where actual it could be started. and that's all the latest from austin business join me for an update at twenty thirty g.m.t. up next thirty talks to a lawyer and former ethics advisor to the u.s. department of justice just. the boston marathon bombings. we are business. in. the cold know what operating. minutes. for. other local what's not enough but there's a law in the local needs you want a community l.n.g. most will be used. that. you've just done for america artist i was fired i must fight. fight. fight right. intern

katie pilbeam see you start another working week for you of course and has this team furiously working hard today you know what a big stories of course that meeting the japanese high profile meeting over here in moscow trying to forge better ties also big energy talks on the cards but of course there's a lot of energy needed in japan after fukushima has been a huge problem in the yeah exactly huge problem i think that's what the center is really about the energy deals and the multibillion dollar ones that that kevin also got some big companies here as well got the big she one hundred fifty businessmen in total hey thrash out some details this is exciting stuff it's a big day for business so i'll give you details after the break. more news today violence is once again flared up. these are the images coke world has been seeing from the streets of canada. for a shelter all day. and you're watching business here and i'll say this even here moscow welcome. russia and japan are making a one billion dollar history deal it is the first time a japanese prime minister has visited russia in ten y