seventeen can solve for the world bank and ten world bank organize meetings in two thousand and two they formed the political party in serbia and since then to spite the fact that in every election they got him a tween seven and eleven percent of the popular vote she seventeen controlled the ministry of finance and the ministry of economy of serbia this is not simply a group of economists it is a network the i.m.f. and world bank used this network to impose their policies in yugoslavia and how do they do it first they force governments to do away with any social protection subsidized food or rent free transportation from l. for care you know all those things you don't really need out the window you cut back in public sector spending you cut wages you cut employment you abolish worker management enterprises in other words you force your people to work harder for less . second they use economic manipulation and new laws to force businesses public and private into bankruptcy the world bank describes the second isn't as a trigger as a trigger mechanism they use that to say we need to trigger

seventeen can solve for the world bank intend world bank organize meetings in two thousand and two they formed a political party in serbia and since then to spite the fact that in every election they got him a tween seven and eleven percent of the popular vote she seventeen controlled the ministry of finance and the ministry of economy of serbia this is not simply a group of economists it is a network the i.m.f. and world bank used this network to impose their policies in yugoslavia and how do they do it first they force governments to do away with any social protection subsidized food or rent free transportation from l. for care you know all those things you don't really need out there when you cut back in public sector spending you cut wages you cut employment you abolish worker management enterprises in other words you force your people to work harder for less . second they use economic manipulation and new laws to force businesses public and private into bankruptcy the world bank describes this mechanism as a trigger as a trigger mechanism they use that this say we need to trigger t

a new world bank report finds denying a woman's independence not only hinders the development of her family and her community but her entire country. >> we've just launched a major report about agency which is about women being able to make decisions about basic aspects of their own lives. like whether, when, how many children to have. being able to buy land or inherit land. being able to participate in public life as well as in their communities. and what we see systematically around the world is that this is too often denied in very important ways. >> the report shows in concrete, economic terms how women's empowerment or the lack thereof changes a country's economy. >> if you improve the equal opportunity, the gender gap, actually you can gain 14% of your gdp larger or higher. that's really a significant amount for any country to try to eliminate poverty, to improve the prosperity of the people. >> former secretary of state hillary clinton joined the president of the world bank and the executive director of un women to highlighthe need for proof of this economic impact. clinton sa

today, we have a downgrade from the world brent -- world bank. thedemand is growing and discovery has been made with a high average price. it is not cheap. now, there is not a lot of identity, i would say. >> ok. thank you very much, indeed. 2014-20 15 operating forecasts and we will talk about that. we will stay with the transport theme. we are heading into brain. we are joined on the taxi rally. what does it look like down there? >> hello. stevenpeaking to mcnamara, the head of the london taxi drivers association. thousands will turn out in these chaos and anuse enormous amount of gridlock. .e says he will not be deterred he says the issue is not to. the issue is overregulation. i will be back. we will have more. >> welcome back. it is not a great day for transport companies. they cut their operating forecasts for reasons relating .o strikes there are further strikes. pilot strikes. etc.. they are trading down nearly 10% as a result of that. and, the operating results are around one billion euros. that is a significant downgrade of the forecast

maybe it's the world bank talking about growth. maybe it's a little bit of the cantor shock post his stunning upset in the virginia primary or just the fact that markets have come so far. dow down triple digits. >> yesterday the dow was slightly negative. finished the session slightly positive. boeing and nike, leading us lower. some say market sentiment heard as eric cantor's stunning defeat last night. he'll step down in his majority leader role, that announcement coming the next hour and we'll have full development. barney frank joins us, larriy kudlow and republican pollster coming up on the show and we'll debate the house leadership conference when it begins. >> stunning news. making sense of these markets is non-other than the legendary vanguard innovator jack bogle who joins us exclusively for his take on these markets and what investors should be paying attention to right now. >> the dow is off its lows and still down more than 106 point. take a look at nasdaq. outperforming as of late. down about 12 point. that's a little

he worked in the field of economics, including at the world bank. he pledged to sign a bihateral security agreement with the united states. joining me from kabul is helena malikia, an afghan historian. thank you for joining us life. the first democratic change from one president to another, it's historic, this vote. >> it is historic for afghanistan, and what is more exciting is that this time around the people of afghanistan seem to have a much awareness. democratic process and the right to vote and use the vote. >>> the people wanted to see a free and transparent government, that is there for the potential winner. >> definitely. there are many things that - many challenges that the new president will have to face. the economy is in a bad state. unemployment, especially for the young is higher than 30%. and with the drawdown of the international forces and reduction of foreign aid, the economy will suffer greatly. plus in the past year or so, the sort of 2014 u.s. withdrawal and n.a.t.o. withdrawal had already damaged business in this country. so t

scenario arising out of the tensions in kosovo the suggest that needle had already breached the world bank at an early stage of military planning the plans for occupation started before a good enough pretext to intervene was found in one thousand nine hundred eight the caylee was still classified by the us state department as a terrorist organization bankrolled by the proceeds from the heroin trade and by osama bin ladin. as it became more evident that the caylee was driving events in kosovo the us realize it could use them for their own interests to hold more of a no brainer reason was actually able to control the charolais not been in government and u.s. cargo planes were landing at the rate of two a day with suppliers and shipments british special forces a us military forces were providing for and were clearly this was before the war. germany. was shipping. x. used for a military style banner with the understanding that again i would give it provide to a k.l.a. the goal was to provoke a harsh response from the serbian army so the west could pretend its jumping in to stop the war and imp

the dow drops as the world bank warns global growth will be slow. but are americans more upbeat about the u.s. economy. >>> stunning defeat. eric cantor will step down as majority leader after a shocking primary loss. big business loses a friend in the house. >>> and uber uproar. why a popular app with a possible multibillion dollar valuation is causing traffic to come to a stand still in some of the world biggest cities. all that and more tonight on "nightly business report," for wednesday, june 11. >>> good evening, everyone. and welcome. a warning today from the world bank. global growth is slowing. economies everywhere are still reeling from the crisis in ukraine, and the brutal winter here in the u.s., with indications the recovery will be delayed. and that changed investors' course today after a string of market records today. they sold stocks. but that probably wasn't the only thing that pressured the major averages. there was weakness in the transports and wall street is still digesting majority leader eric cantor's defeat in a primary last

was nato shop it had been well coordinated and dance in fact almost a year prior to the war the world bank carefully analyzed the consequences of an eventual military intervention leading to the occupation of kosovo and conducted relevant simulations which anticipated the possibility of an emergency scenario arising out of the tensions in kosovo the suggest that neato had already breached the world bank and an early stage of military planning the plans for occupation started before a good enough pretext to intervene was found in one thousand nine hundred eight the caylee was still classified by the us state department as a terrorist organization bankrolled by the proceeds from the heroin trade and by osama bin ladin. as it became more evident that the caylee was driving events in kosovo the us realize it could use them for their own interests the whole border now being your reason was actually under the control of the charolais not been in government and u.s. cargo planes were landing at the rate of two a day bringing supplies and shipments british special forces a us military forces were

dragging fifa out of the shadows, much like the global protesters did 15 years ago with the imf and world bank. the people of brazil have performed a public service, because fifa can live in the shadows no longer. >> dave, thank you so much. >>> everything you need to know about who's who and what's what in this year's world cup. that's ahead. replace your laptop? start with the best writing experience. make it incredibly thin. add an adjustable kickstand, a keyboard, a usb port, and the freedom of touch. and, of course, make it run microsoft office, with the power and speed to do real work.

scenario arising out of the tensions in kosovo the suggest that needle had already breached the world bank at an early stage of military planning the plans for occupation started before a good enough pretext to intervene was found in one thousand nine hundred eight the caylee was still classified by the us state department as a terrorist organization bankrolled by the proceeds from the heroin trade and by osama bin ladin. as it became more evident that the caylee was driving events in kosovo the us realize it could use them for their own interests to hold more of a no brainer reason was actually under the control of the charolais not been in government and u.s. cargo planes were landing at the rate of two a day with suppliers and shipments british special forces a us military forces were providing friendly care like this was before the war. germany was shipping. ex east german military arms to a banner with the understanding that again i would give it provide to a killer the goal was to provoke a harsh response from the serbian army so the west could pretend its jumping in to stop the war

scenario arising out of the tensions in kosovo the suggest that needle had already breached the world bank at an early stage of military planning the plans for occupation started before a good enough pretext to intervene was found in one thousand nine hundred eight the caylee was still classified by the us state department as a terrorist organization bankrolled by the proceeds from the heroin trade and by osama bin ladin. as it became more evident that the caylee was driving events in kosovo the us realize it could use them for their own interests to hold more of a no brainer reason was actually able to control the charolais not been in government and u.s. cargo planes were landing at the rate of two a day with suppliers and shipments british special forces a us military forces were providing friendly care like this was before the war. germany was shipping. ex used german military arms to a beta with the understanding that again i would give it provide to a k.l.a. the goal was to provoke a harsh response from the serbian army to the west that pertained it's jumping in to stop the war and i

punishing themselves dr doom international or economist and consultant on oil and energy at the world bank thank you very much for joining us and sharing your views with us. right the united nations estimates in just fifteen years from now around half of the world's population will suffer from a lack of water its recent report also predicts the vital resource will become the main driver of regional and global conflicts of all of the water covering the planet only around two percent is freshwater about a third of the global population are currently under so-called water stress with a day countries underground reserves already severely depleted now this figure is dramatically rising with almost one third of the population predicted to be hit by critical shortage just over the next decade now elso the demand of fresh water is of course going up and is tripled over the past five decades and global water consumption is looking less likely to sustain population growth not combination of overcrowding pollution and poor resource management and climate change will bring major security threats these

when do we care about the world bank? >> why are you snickering? so rude. but to her point -- >> exactly. that's my point. >> you have to remember, people are looking to trade off of every headline. what else is there to trade off of? this would be from a professional trader, you're watching a tape. it's a slow, slow couple of weeks that we have been witnessing. the market has been up on air. any type of headline is tradeable and that was the headline traded on today. >> you tell me why we're down. >> no. i don't know why. >> cutie pie. >> oh. >> geopolitical but i will tell you that all these dips have been bought were way above the 50 day. if you could point to something else why we were down, i'll all ears right here. >> you make a good point. i mean, i don't think we're down 35 blips, people. let's not freak out here. i think you're right. >> small amount. >> i think it has more to do with the geopolitical stuff. we saw the situation in iraq which bk and i were talking about. that could become very important especially if you see crude oil spike above 1

the world bank has cut its global growth forecast.rganization predicts the world economy will expand two point eight percent. the production was 3.2% in january. bank -- invest in 30%stment banks get bonuses higher than smaller rivals. they typically receive owners of the 400,000 pounds and a base salary of 275,000 pounds. opec nations meet to discuss a productive -- collective production limit. country say they are at ease with supply and demand in global oil markets. we spoke exclusively to the uae oil minister. >> most of the countries are in the process of growing. kuwait, saudi arabia. it is a buffer between the production -- they are very helpful. opec will be choosing a new secretary-general. ryan chilcote in vienna with the details. >> we have a new candidate. her name is from nigeria. -- she is from nigeria. we have had a secretary-general for seven years. he is 74 it -- and his two years passed the five-year term. they have not been able to choose a new successor. they have three candidates. an iraqi, an iranian, and the sau

than theore optimistic world bank.ore optimistic about china in the second half of the year? >> we do see a moderate recovery in terms of the momentum growth of the economy going into the second half of the year, and as we discussed earlier, the main factors are basically the global growth picture. we are looking for the global economy to grow slightly above trend growth in the second half of the year after a soft first quarter, so that would hopefully help support the export sector, and then secondly, some of the facts of the measures that the government has come up with in the past two or three months to gradually begin to seep into the overall economy. >> all right, senior china economist at jpmorgan, thank you for joining us today. still to come, big bets and big money. the start of the new trading week. our reporters would join us next . stay tuned next for stock exchange. ♪ >> the stock exchange, very are, taking a look at the stocks in japan and elsewhere, keeping an eye on about what stocks are doing. good morn

international problems goes beyond plans to establish a global financial institution to rival the world bank and the asian development bank which is not always willing to support china's initiatives for example those concerning infrastructure development one of the first tasks for the new bank will be the building of a new version of a silk road connecting china to europe china professor and the believes that the best way for china to have its projects done is to fund them itself i think that this is just a further extension of what china's been doing china has come from pretty much a backwater country thirty years ago to now the world's second largest economy and china is basically showing the world that if there is a will there is a way china has been somewhat frustrated with the world bank and the asian development bank in terms of. the funds coming out of these energies to support infrastructure projects so china i think basically decided that if they want anything done here they're just enough to fund it themselves and bring along a bunch of partners so i think that's the prime motivati

she worked for the ford foundation for a while she worked for other organizations like women's world banking and usaid and other places. tim geithner's father was was head of the whole program in asia they didn't they were not in direct contact at all in fact one of the things that people often talk about is the fact that barack obama was sent back to hawaii to go to school and live with his grandparents for a while and that's because in the level where and dunham was working she wasn't making enough money in the early days to actually send her child to the international school in indonesia which is where attempt i went so she sent her child back home when he when he got a scholarship to go to the best school in hawaii then what's the status of grameen bank now which was eunice's creation and then like a fool i think the most important thing to say about mohammad yunus and the grameen bank for which i have a huge amount of respect is that if you go away from this original idea of having the borrowers own the bank and be in control of that bank the women borrowers own grameen you eunice was n

seventeen can solve for the world bank and ten world bank organize meetings in two thousand and two theyformed a political party in serbia and since then to spite the fact that in every election they got him a tween seven and eleven percent of the popular vote she seventeen controlled the ministry of finance and the ministry of economy of serbia this is not simply a group of economists it is a network the i.m.f. and world bank used this network to impose their policies in yugoslavia and how do they do it first they force governments to do away with any social protection subsidize food or rent free transportation free melford care you know all those things you don't really need out there when you cut back in public sector spending you cut wages you cut employment you abolish worker management enterprises in other words you force your people to work harder for less. second they use economic manipulation and new laws to force businesses public and private into bankruptcy the world bank describes this mechanism as a trigger as a trigger mechanism they use that this say we need to trigger the

they know about the world bank and world cup. >> right. >> i think they're worried about both. >> right>> as they should. >> should there be worry on the geopolitical front on what's going on in iraq? i mention it because it is on the front page of newspapers. it's like -- you know. scary. >> it fell. a lot of people who felt you could get behind a thesis where oil goes down to 80, 90 because iraq returns to some incredible level of production. the southern areas of iraq are producing. i think that the next thing you're going to hear about is the oil companies and people pulling out of iraq. they're denying that. >> civil war will have that effect. >> because the -- the oil minister said listen, it's safe in the south. oh, okay. well thanks. let me get my trip tick out. >> let's move on quickly to taxes. apple says it's received no favorable tax treatment in ireland. irish officials say the same. european commission is looking into taxes that are paid by apple in ireland and by starbucks by the way in the netherlands and whether any tax deals violated eu rules. starbucks issued a statem

the world banks says that lebanon is at a, quote, breaking point. the former president of this country says all the the ref veerefugees are a threat to the country's unity. they have talked about helping them in three ways, providing money to help the refugees, number two providing loans to the world bank to stabilize the lebanese economy. number three, helping the lebanese military with arms and support that is tack taillighting terrorism and also to try to stabilize this country in terms of its security. lebanon needs the help and it needs it quickly. of all the billions pledged to help lebanon and all the refugees here, only 17% has been delivered. >> nick schifrin reporting live in beirut. >>> gun bat unless ukraine. pro-russian separatist took over two government believes in luhansk. following a two-day long siege. six pro-russian fighters were killed and two ukrainians injured. ukraine's military has launched its heaviest attack yet. residents say they are being caught in the cross fire and leading for it to stop. we want to warn you some of t

the lack of trust in the world bank and the i.m.f. has led china to establish its very own rival global financial institution beijing is starting with one hundred billion dollars in capital and aims to overtake a similar project in the region which is highly influenced by japan so far twenty two countries are shown interest in the new land including some rich states in the middle east china though says it would go ahead with the ambitious project even if nobody else wanted to one of the first tasks will be setting up a new version of the ancient silk road connecting the country to europe china expert professor and lee believes beijing is quite right to fund its own projects. i think that this is just a further extension of what china's been doing china has come from pretty much a backwater country thirty years ago to now this world's second largest economy and china is basically showing the world that if there is a will there is a way china has been somewhat frustrated with the world bank and the asian development bank in terms of. th

be a servant of the nation and if you vote for me you can question me. >> reporter: the former world bankst is widely seen as a technocrat and was a special advisor to the u.n. battle with afghan and his credentials are impecable and at the end of 2006 he was secretary general and presidency has been his goal. in 2009 he gave up u.s. citizenship to run in the poll but received 3% of the vote. this year he fared better by aligning himself with powerful war lords and with economic growth securing nearly a third of the vote. he clearly has some support here. but with momentum building with abdula-abdula the chances of winning are promising and not only did abdula received a higher vote in the first round, he has been far more visible in the build up to runoff and received several high-profile endorsements but he told al jazeera that he is certain he will win. are you hopeful for saturday's election? >> yes. >> what are you hopeful for? >> yes, we have a fantastic moment and a victory and of serving our people. >> reporter: but any victory will be decided by voters and that outcome is far fro

a lot of folks on wall street reacting news out of washington and news from the world bank.e have breaking news, a senior house leadership election, being reported by fox news. we're saying it could happen as early as next week. i'm sorry, if you roll back a little by the next week. that is the election for senior house leadership, after what happened with eric cantor last night. okay, we can move on now. >>> elon musk's blood view with space ex-foes boeing and lockheed martin is blasting off. with nearly a billion dollars on the line neither side is pulling a lot of punches. this is getting very personal with messy lawsuits and twitter fights and a whole lot of smack talk. charlie gasparino and expenseter anti, speaking of back talk are back with us and capitalist pig's jonathan hoenig is back with us, fox news contributor. they rolled out scorecard how many more successful launches that than space ex. they had a fiscal picture. they're getting mad. what do you think of this one? >> first time in long time they have competition, wonderful to hear rather than from musk or an

get funding from the world bank. and put this area on the world spotlight. is a real jewel of a place. the reserve is wonderful. there is a lot of to be gained from this. i'm hoping that eventually all of this works and we can develop a research center deep in the jungle. the only way in will be by helicopter. went to build a road, forget it. you've lost all control. scientists are on the road and .ill study the flora this, this area will become protected. it it will need people all over the world coming there. it will be difficult to deforestation without getting a bunch of global attention. >> do have another project? >> this is it. >> think you, steve. let's turn to michael. we've had this conversation about this article already. i think there are some other things we would like to express. with the broader questions, i would like to ask about the usage which i found interesting in your piece. stylized and correct, fact. -- incorrect, stylized fact. >> thank you for having us. a stylized fact is supposed to be a theory. a fact that is true in a lot of cas

>> we are working very closely with both the banks, the world bank and the asian development bank as well as a number of the large bilateral donors which are active in these areas. so for example on the natural resources sector the world bank has been advising on the mining law which i think is just passed parliament and we've tried to complement that work by working with the government to develop a fiscal regime or tax regime for the natural resource sector that on the one side shares some of the rent with government for tax revenue and makes sure there are adequate incentives for companies to invest in that sector. >> do we have a question at the back there, young lady? okay, let me take -- two questions there. >> thank you. i'm michael caughy. i'm an interested citizen since i've been my career doing public opinion research in afghanistan. i see legal reform as being absolutely essential towards encouraging and basically guaranteeing economic reform bus one thing i've seen in my personal experience is that enforcement is often lax. my favorite story is when you fly into kabul inte

the world bank is talking about slower growth in the u.s.ina, russia, india, and brazil, the so-called rick company -- brick countries. saw the concern seems to be weighing on stocks. we'll have more on the markets in 30 minutes. >> thank you. let's count down to the open with the top 10. cbs, start with number 10, who says they fully will divest the stake in the billboard advertising company cbs outdoor america, the final step in the spinoff of cbs outdoors which began trading as a standalone company in march. >> number nine is toyota, recalling vehicles in japan because of possible airbag issues. toyota has recalled more than 2 million vehicles for the same reason last year. they were all manufactured by japan's toccata. google,r eight is paying for a startup that provides real-time satellite imagery. the cash deal comes as google looks to bolster mapping services. >> number seven, family dollar theyares surged 12% after attract the attention of another activist investor, carl icahn. fund is one of the biggest donors. , thember six, h&r bl