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. >> and a very good afternoon from the cnn hong kong, i'm andrew stevens. you're watching "world business today," the top stories this thursday, august 18. foster's knocks back a second big bid from sabmiller. is there any more growth to be squeezed from the aussie beer market. >>> against a backdrop of slowing growth and crippling debt, u.s. vice president joe biden visits the biggest creditor. >>> and you can call it anti-branding. why abercrombie and fitch is willing to pay one tv star not to wear its clothes. >>> we're one hour into the trading day here in europe. let's have a look at how the markets are faring. this is the picture across the board. some of the markets down well in excess of 1.5%. the dax on its way to being down 2% lower on the back of asia's performance overnight. let's have a look at the currency market for a moment. the euro trading at 144.08 against the greenback, the british pound trading at 165.21 and the japanese yen at 76.57 at the moment. andrew. >> that japanese yen is hurting the japanese economy. it came within a fifth of t
. >> and a very good afternoon from the cnn hong kong, i'm andrew stevens. you're watching "world business today," the top stories this thursday, august 18. foster's knocks back a second big bid from sabmiller. is there any more growth to be squeezed from the aussie beer market. >>> against a backdrop of slowing growth and crippling debt, u.s. vice president joe biden visits the biggest creditor. >>> and you can call it anti-branding. why abercrombie and fitch...
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i'm andrew stevens, and you're watching "world business today." >>> u.s. lawmakers agree on a deal with just two days to spare. now comes the hard part, voting on it. >>> stocks jump in response. has it done long term damage to confidence. >>> the latest results will show just how deep. >>> so with tuesday's debt limit deadline closing in on them, the u.s. president barack obama and congressional leaders have finally found common ground. >> i'd as now that the leaders of both parties, both chambers have reached an agreement that will reduce the deficit and avoid default, a default that would have had a devastating effect on our economy it's only a start though. next comes what could be the biggest challenge of all, getting this 11th-hour compromise approved through the house of congress by tuesday night. o objections are being voiced. even nancy pelosi herself says house democrats may not be able to support it. >> i wonder what the market's going to make of all of this. let's get to the details now. it would extend america's debt limit by more than $2 tril
i'm andrew stevens, and you're watching "world business today." >>> u.s. lawmakers agree on a deal with just two days to spare. now comes the hard part, voting on it. >>> stocks jump in response. has it done long term damage to confidence. >>> the latest results will show just how deep. >>> so with tuesday's debt limit deadline closing in on them, the u.s. president barack obama and congressional leaders have finally found common ground. >>...
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i'm andrew stevens and you're watching "world business today." the top stories on this monday, august 8, asia slumps but europe holds its ground. is it enough for investors? >>> they're defending igts apparent reason but critics are not con o vinced. >>> and from washington to main street, have all the downgrade impact affect real america? it may have been the weekend but it's doubtful the prime minister got much of a break. the turmoil on the global markets spurred them into action and as the new week began came twin announcements from the g-7 and euro banking. they say it stands ready to take coordinated actions. it says it will take all necessary measures to support financial stability and economic growth. so far it has not specified what those measures may be. by contrast, the european central bank says it will actively implement its program of european buying as. as this comes following a market route that started on friday and a hammer blow to confidence by the ratings agency standard & poor poor's which downgraded its rating on the policy
i'm andrew stevens and you're watching "world business today." the top stories on this monday, august 8, asia slumps but europe holds its ground. is it enough for investors? >>> they're defending igts apparent reason but critics are not con o vinced. >>> and from washington to main street, have all the downgrade impact affect real america? it may have been the weekend but it's doubtful the prime minister got much of a break. the turmoil on the global markets spurred...
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Aug 31, 2011
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i'm andrew stevens. you're watching "world business today." the libyan rebels oil and finance minister tells us the country's oil production could be back to full strength within a year. >> you have big dreams? >> of course. >> you want to be president one day? >> maybe. >>> meet the mongolian sumo wrestler with dreams of making it big in business. >>> a new report puts zimbabwe's capital at the bottom of the world's most livable cities. we'll tell you what's at the top. >>> let's get straight to the markets here. here in europe about an hour into the trading sessionally, broadly speaking things are moving steadily higher. we have some pretty substantial gains at that time likes of the cac 40 in paris despite the fact that one of the stocks is the lagout on that industry after coming out with its first half figures showing the company posted a loss. also the dax is up about 1.1%. checking on the currencies, this is how the main currencies are faring against the u.s. dollar at the moment. a number of them, as you can see, trading higher. we hav
i'm andrew stevens. you're watching "world business today." the libyan rebels oil and finance minister tells us the country's oil production could be back to full strength within a year. >> you have big dreams? >> of course. >> you want to be president one day? >> maybe. >>> meet the mongolian sumo wrestler with dreams of making it big in business. >>> a new report puts zimbabwe's capital at the bottom of the world's most livable cities. we'll...
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i'm andrew stevens. you're watching "world business today." the top stories this thursday, august 4th, japan pushes back. intervention takes some of the pressure off the soaring yen but can it last? >> there's trouble in the banking sector. we'll be taking a look at the latest signs of weakness. we'll be hearing from one nobel prize-winning economist has to say about all this. >> and it's another case of deadlock in washington. lawmakers go on vacation without a resolution, leaving thousands of federal jobs in limbo. >>> the japanese government intervened in its country's currency market fothe third time. in a year. the finance minister says the move is to stop a surging yen undermining japan's economic stability. an overly strong yen hurts the country's exporters. many like toyota are struggling in the wake of the march 11 earthquake and tsunami. after the intervention, the yen weakened against the u.s. dollar, quite substanally now. right now one dollar will get 79.88 yen. let's take a look at the day's trading in the yen. it's fairly flat a
i'm andrew stevens. you're watching "world business today." the top stories this thursday, august 4th, japan pushes back. intervention takes some of the pressure off the soaring yen but can it last? >> there's trouble in the banking sector. we'll be taking a look at the latest signs of weakness. we'll be hearing from one nobel prize-winning economist has to say about all this. >> and it's another case of deadlock in washington. lawmakers go on vacation without a...
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i'm andrew stevens. you're watching world business today. the top stories this tuesday, august 16th. >> new signs of slowing growth in europe as leaders of the euro zones top two economies try to restore confidence in the region. >> google announces its biggest bet. what's in it for the company and what it means for consumers. >>> warren buffett says tax the mega rich. just how much of a difference would that make? we'll crunch the numbers. let's go straight to the market action in europe now where stock exchanges have been open just over an hour. here's how they're performing so far today. we're seeing a selloff, in fact a considerable selloff throwing away the gains that we saw in monday's session. certainly in terms of the dax and the can you remember ant. i'm not sure if the numbers are correct. certainly the london ftse off. three quarters of a percent. the ami off by two thirds. not hit as hard. there's good reason for that. we'll come into that in a moment. it's a picture of slowing growth, andrew. more in a moment. >> absolutely. tha
i'm andrew stevens. you're watching world business today. the top stories this tuesday, august 16th. >> new signs of slowing growth in europe as leaders of the euro zones top two economies try to restore confidence in the region. >> google announces its biggest bet. what's in it for the company and what it means for consumers. >>> warren buffett says tax the mega rich. just how much of a difference would that make? we'll crunch the numbers. let's go straight to the market...
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thanks for watching, i'm andrew stevens in hong kong. >> i'm charles hodson? lond london.
thanks for watching, i'm andrew stevens in hong kong. >> i'm charles hodson? lond london.
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hello, i'm andrew stevens. >> i'm charles hodson, you're watching cnn's continuing coverage of the uprising in libya. >>> history is unfolding today in libya as colonel moammar gadhafi's 42-year grip on power appears to be coming to an end. here now the latest. anti-gadhafi forces say they're in control of most parts of tripoli. the rebels caution there are still some pockets of resistance in the capital. colonel gadhafi's own whereabouts are unknown now, but there have been sporadic gunfire and explosions near his al aziz la compound in tripoli. rebels say they have now capt e captured three of gadhafi's surviving sons. prosecutors for the international criminal court say they hope to put saif gadhafi on trial, but a spokesman said the libyan people should decide whether to handover the sons to the icc. we've been able to speak with some libyans who say they are ready for change. one young woman says the country has been put through 42 years of hell. listen to the pure joy that change has brought to this 19-year-old living in the capital city. >> this is something we've all been dreaming o
hello, i'm andrew stevens. >> i'm charles hodson, you're watching cnn's continuing coverage of the uprising in libya. >>> history is unfolding today in libya as colonel moammar gadhafi's 42-year grip on power appears to be coming to an end. here now the latest. anti-gadhafi forces say they're in control of most parts of tripoli. the rebels caution there are still some pockets of resistance in the capital. colonel gadhafi's own whereabouts are unknown now, but there have been...
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. >> and i'm andrew stevens at cnn hong kong. welcome back.re watching "world business today." >>> let's return to european stock markets where all of the major indices apart from london are open for trade. obviously with the ftse, the largest index not open. a little thinner. how they stand right now with gains for all of these markets, the dax up by more than 1% as is it's cac. quite strong gains for the siouxic smi with big banks like british suite much to the fore. the whole of the european indices playing catch-up with the rally we saw on friday on wall street. andrew? >> yes, absolutely. similar story here. wall street keepings in asia in the start of the trading week, charles. investors digesting the news out of japan the new prime minister is indeed the former finance minister. so expecting at least mr. noda will bring some relative stability to economic policy. the market up by two-thirds of 1%. hong kong also up. look at shanghai. this is a story. talking about beijing moving aggressively on new anti-inflationary measures on friday.
. >> and i'm andrew stevens at cnn hong kong. welcome back.re watching "world business today." >>> let's return to european stock markets where all of the major indices apart from london are open for trade. obviously with the ftse, the largest index not open. a little thinner. how they stand right now with gains for all of these markets, the dax up by more than 1% as is it's cac. quite strong gains for the siouxic smi with big banks like british suite much to the fore....
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i'm andrew stevens. >> i'm nina dos santos. you are watching cnn.marketplace middle east" is next. >>> this week on "marketplace middle east" a sigh of relief as the u.s. reaches a debt agreement but concerns continue especially with regional investors. >>> and the trial of hosni mubarak. address he goes on trial in cairo, we look at what this means for the country's recovery. >>> after weeks of political maneuvering on capitol hill, they have agreed to increase the debt ceiling. later this year, bipartisan congressional committee will be tasked to come up with more specifics for the cuts that are be particularly painful. despite an agreement, there could be lasting damage. the world's rock-solid confidence on america's economy suffered a severe blow and investors in the middle east have been watching the debt debate closely. >> reporter: the u.s. debt deadlock had the international world on edge including the middle east. market watchers in this region like the rest of the world kept a keen eye on the u.s. debt issue. one of the main concerns here
i'm andrew stevens. >> i'm nina dos santos. you are watching cnn.marketplace middle east" is next. >>> this week on "marketplace middle east" a sigh of relief as the u.s. reaches a debt agreement but concerns continue especially with regional investors. >>> and the trial of hosni mubarak. address he goes on trial in cairo, we look at what this means for the country's recovery. >>> after weeks of political maneuvering on capitol hill, they have...
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. >>> i'm andrew stevens at cn hong kong. welcome back.ing "world business today." >>> well, investors may have thought that the world's stock markets had turned the corner, but the debt crisis and the euro-zone, it seems, still looms large, and, of course, the volatility continues. it was a dire day on wall street on wednesday and the mood over there actually spilled onto some of the markets in asia today. let's take a look at what's been happening on the world stock markets starting over here in europe. volatility still reigns supreme here in europe. all of the major indices as you can see. americans made some pretty substantial gains. we do have the dax up by 3%. the cac 40 rebounding quite significantly. i do want to mention one company, comerica bank coming out with its figures saying net profit fell by 93% in the last quarter. it had to write down over a billion dollars on its greek sovereign debt portfolio. it gives you an idea how it's really affecting some of these banking stocks and affecting companies in the markets as the europ
. >>> i'm andrew stevens at cn hong kong. welcome back.ing "world business today." >>> well, investors may have thought that the world's stock markets had turned the corner, but the debt crisis and the euro-zone, it seems, still looms large, and, of course, the volatility continues. it was a dire day on wall street on wednesday and the mood over there actually spilled onto some of the markets in asia today. let's take a look at what's been happening on the world...
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i'm andrew stevens in hng kong. >> and i'm nina dos santos in london. you're watching "world business today." -- captions by vitac -- www.vitac.com >>> let's start with the markets. they were higher for your the second or third trading day. let's look at where they stand at the moment. we've got the heaviest gains comes. the cac 40 in france up the most and germany up to a tune of 1%. the ftse still up following yesterday's positive close by markets on the other side of the atlantic. andrew. >> yeah, that was certainly helped by better than expected economic numbers in the u.s. and that boosted the markets across asia. a fairly positive day all in all here in the nation. and also news of that resignation of steve jobs filtering through, boosting share prices. let's face it. asian come poet tors will be breathing a little bit of a sigh of relief as he steps away. that's how the markets finish up. shanghai comp up 2.91%. australia, will north of that 1% gain, nina. >> let's take a look at how the u.s. markets are fairing at the moment in the united states
i'm andrew stevens in hng kong. >> and i'm nina dos santos in london. you're watching "world business today." -- captions by vitac -- www.vitac.com >>> let's start with the markets. they were higher for your the second or third trading day. let's look at where they stand at the moment. we've got the heaviest gains comes. the cac 40 in france up the most and germany up to a tune of 1%. the ftse still up following yesterday's positive close by markets on the other side of...
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i'm andrew stevens in hong kong. >> i'm nina dos santos in london. you're watching cnn, the world's news leader. -- captions by vitac -- www.vitac.com
i'm andrew stevens in hong kong. >> i'm nina dos santos in london. you're watching cnn, the world's news leader. -- captions by vitac -- www.vitac.com
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i'm andrew stevens in hong kong. >> i'm nina dos santos in paris. we'll be back in a couple hours' time for the next edition of "world business today." in the meantime you're watching cnn, the world's news leader. it's good-bye for now. -- captions by vitac -- www.vitac.com
i'm andrew stevens in hong kong. >> i'm nina dos santos in paris. we'll be back in a couple hours' time for the next edition of "world business today." in the meantime you're watching cnn, the world's news leader. it's good-bye for now. -- captions by vitac -- www.vitac.com
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i'm andrew stevens. you're watching "world business today." these are our top stories on wednesday, august 10th. investors regroup after days of heavy losses as the u.s. federal reserve vowins to keep rock bottom. >>> when it comes to steering the economy, we'll tell you how beijing is being penned in by china's soaring pork prices. >>> stock markets are up, but after the collapse of confidence that's hammered equities over the past few sessions, investors are wondering whether the panic is really over. tuesday's federal reserve meeting appears to have been the trigger for the rally in europe. the gains there partially reversing the spectacular falls of recent days. european indices are heading higher. a asia followed that swing. the dow posted its biggest gain this year. here in hong kong the stock exchange has just closed. the hang seng recovered some of that but still has quite a way to go. it lost almost 12% of its value over the past three sessions of decline. nina? >> andrew, none of these markets are down in the double digits. let's see
i'm andrew stevens. you're watching "world business today." these are our top stories on wednesday, august 10th. investors regroup after days of heavy losses as the u.s. federal reserve vowins to keep rock bottom. >>> when it comes to steering the economy, we'll tell you how beijing is being penned in by china's soaring pork prices. >>> stock markets are up, but after the collapse of confidence that's hammered equities over the past few sessions, investors are...
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andrew stevens, my colleague in hong kong, has been following it very closely. good morning, let's start with how world markets have been reacting overnight now into the morning? >> not well, ali, and not surprising either. the asian markets particularly got off to a pretty weak start today. the markets down between 2% and 4% at one stage. did come back towards the end. europe started off on a positive note because european policy leaders were seen to be actually doing something, taking concrete action, buying spanish and italian bonds. that's all slipping at the moment as well. there's still a lot of nifty out there, ali. want to bring back to that point mark zandsy made, this is a blow to the ego, not much more than that. and quest is right about the sky not falling. there is a crisis here and that crisis is the crisis of confidence that we talked about on friday. >> andrew, china happens to agree with you on this. they've said, quote, that this is a warning bell for the united states. >> absolutely. and they're absolutely right. now china has been huffing and
andrew stevens, my colleague in hong kong, has been following it very closely. good morning, let's start with how world markets have been reacting overnight now into the morning? >> not well, ali, and not surprising either. the asian markets particularly got off to a pretty weak start today. the markets down between 2% and 4% at one stage. did come back towards the end. europe started off on a positive note because european policy leaders were seen to be actually doing something, taking...
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i'm andrew stevens. welcome to "world business today." today is tuesday, august 2nd. >>> the u.s.s closer to settling the debt deal. can they handle the cuts. >>> how are the world's largest car mareks being hit. >> and eric schmidt was google's ceo from 2001 to 2011. >>> at long last washington's debt drama should end just hours from now. political observers predict the senate will vote to approve the final plan and that will allow president obama to sign it into law before tonight's debt limit deadline, thus averting a u.s. default. the house of representatives approved the 11th hour compromise by a wide margin on friday. 261 for, 161 against. consistent for both republicans and democrats. charles, this time yesterday we talked about the market having a positive reaction. it didn't seem to last long, though, did it? >> it certainly seemed to melt away pretty fast, as fast as summer snow, even here in london. actually that i thinking combined with the news out of the u.s. manufacturing sector, which we'll get into later, you're looking at really quite a sharp downward movement on
i'm andrew stevens. welcome to "world business today." today is tuesday, august 2nd. >>> the u.s.s closer to settling the debt deal. can they handle the cuts. >>> how are the world's largest car mareks being hit. >> and eric schmidt was google's ceo from 2001 to 2011. >>> at long last washington's debt drama should end just hours from now. political observers predict the senate will vote to approve the final plan and that will allow president obama to...
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for now i'm andrew stevens in hong kong. >> i'm charles hodson in london. you're watching cnn, the world news leader. >>> good morning. et it is tuesday, august 2nd. this is your a.m. "wake-up call." i i'mally velshi joining you live from new york. let's start with a story. it's tropical storm emily. take a look that weather track. there's chance it could pick up strength and approach south florida by friday. we're going to talk to rob marciano about that in just a few minutes. for those of you in florida, you may want to change some of your plans. the senate votes on the bills today with just a few sand granules left in the hourglass, and all the dithering and delaying didn't come for free. this might make you spit out your coffee or trip on your treadmill, so get ready for this. the price tag, more than 1 $.7 billion. that is how much extra interest the government will have to pay investors because it had to sell treasury bills to finance its operations in the middle of this mess. if the mess had been worked out even two weeks ago, that money would have b
for now i'm andrew stevens in hong kong. >> i'm charles hodson in london. you're watching cnn, the world news leader. >>> good morning. et it is tuesday, august 2nd. this is your a.m. "wake-up call." i i'mally velshi joining you live from new york. let's start with a story. it's tropical storm emily. take a look that weather track. there's chance it could pick up strength and approach south florida by friday. we're going to talk to rob marciano about that in just a few...
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. >> and i'm andrew stevens at cnn hong kong. welcome back.u're watching "world business today." >> all right. let's go straight over to the stock markets here in europe now, open for 91 minutes, and we're continuing to see declines. a lot of volatilities here still. these markets are basically 10% lower than they were back in february with a high -- actually the lowest level since october of last year, up by only a third of a percent in the case of the ftse and the paris cac 40 less than that by a quarter. swiss market, which is playing catch-up to some of the selling we saw on monday, closed for a swiss national holiday, that's off by more than 2%. so what with the u.s. manufacturing coming in very disappointing, a lot of uncertainty surrounding the future debt rating status of the united states and the debt problems, not only there, but also here in the euro-zone. really we're looking at a very, very weak couple of days, continuing to be a weak session on the stock markets here, andrew. >> yeah, very similar story in asia as well. a few sto
. >> and i'm andrew stevens at cnn hong kong. welcome back.u're watching "world business today." >> all right. let's go straight over to the stock markets here in europe now, open for 91 minutes, and we're continuing to see declines. a lot of volatilities here still. these markets are basically 10% lower than they were back in february with a high -- actually the lowest level since october of last year, up by only a third of a percent in the case of the ftse and the paris...
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andrew stevens standing by live in hong kong. what a roller coaster asian markets were overnight, andrew. what's the scene from your perspective? >> it was interesting what happened here today. for the first time, ali, we've seen governments through their state-owned pension funds, things like that, stepping into the markets to try to buy, to shore up their market. we saw it in soek. the kospi in south korea was down around 9% at one stage. this is a huge fall. the governments are now starting to take some action to try to stem the losses there, but it does give sellers -- some buyers out there, may not have much of a long-term impact. basically everybody is waiting to see what happens in the u.s. is there going to be any form of moves from the federal reserve to try to stop this, stop this slow down, restore confidence, to have a plan. there's a lack of a plan at the moment. ali, it's interesting, i was talking to a couple people today, there's a consensus building we could have another 10% fall before we start seeing things cle
andrew stevens standing by live in hong kong. what a roller coaster asian markets were overnight, andrew. what's the scene from your perspective? >> it was interesting what happened here today. for the first time, ali, we've seen governments through their state-owned pension funds, things like that, stepping into the markets to try to buy, to shore up their market. we saw it in soek. the kospi in south korea was down around 9% at one stage. this is a huge fall. the governments are now...
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andrew stevens is in hong kong. the markets closed lower, they open lower. may have had momentum in the day. tell us what you know. >> if you look at where the market closed, the momentum was working against the asian markets. there was a link to the u.s. economy. asia is the exporting capital of the world, taiwan, china, all of these markets taking a hit. hong kong on the back of -- let's see what happens in china takes those hits. so you do have the fundamental issue, this linkage with the u.s. so, we're seeing a selloff across the board. australia is interesting because it's where they're going. that's a big fault because it's a commodity index. everybody is saying the commodity prices will awaken because of the weak global economy and you can't discount what's going on in europe either. it finds itself paying the price for issues which are not of its making but certainly cannot escape. >> yesterday was unusual in that the money did not leave stocks to go into the commodities. the money was down across the board. the only place they were going into was ca
andrew stevens is in hong kong. the markets closed lower, they open lower. may have had momentum in the day. tell us what you know. >> if you look at where the market closed, the momentum was working against the asian markets. there was a link to the u.s. economy. asia is the exporting capital of the world, taiwan, china, all of these markets taking a hit. hong kong on the back of -- let's see what happens in china takes those hits. so you do have the fundamental issue, this linkage with...
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andrew stevens joining us now from hong kong to explain. so andrew, we know the u.s.living in a vacuum. how is the european debt crisis affecting the u.s. market and why now? >> well, as you say, we're not living in a vacuum. and everything now is so interrelated. so when you're investing in europe and you see this massive -- we talk about the crisis of confidence. the fact that the european policymakers cannot get to grips with this debt crisis which now may be threatening the world or europe's third biggest economy, that sends shatters through the investment community worldwide. you're of that still a huge consumer. the markets here in asia tanking today, down by 4% on average. and that was because consumers in the european countries are worried about what's going on, they feel that they're not -- they don't have a chance really to see economic growth, so that is affecting asian investors and manufacturers as it is the u.s., as well. so this whole thing revolves right around the world. if you look across the market, all the major markets are down. over the past two
andrew stevens joining us now from hong kong to explain. so andrew, we know the u.s.living in a vacuum. how is the european debt crisis affecting the u.s. market and why now? >> well, as you say, we're not living in a vacuum. and everything now is so interrelated. so when you're investing in europe and you see this massive -- we talk about the crisis of confidence. the fact that the european policymakers cannot get to grips with this debt crisis which now may be threatening the world or...
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andrews stevens is live in hong kong. start with nina dos santos, live in london. hi, nina. we're reacting first around the world to the debt downgrade but a lot of people are talking about europe, watching what's happening with europe for direction here, which shows you it's not all the debt downgrade we're talking about. good morning. >> good morning to you as well, christine. the debt is the operative word. not just europe but specifically in the euro zone. what we've got at the moment is the ecb said over the course of the weekend, this is the european central bank, it's going to be finally heeding some of the advice from investors and buying italian and spanish bonds to try to bring down the cost of borrowing for europe's third and fourth largest economies. now, when you look at the equity markets it doesn't seem to give the equity markets much of a shot in the arm. we had a dead cat bounce earlier on today when we saw a little bit of a relief rally and within 45 minutes the markets had turned into the red and sharply so. they're currently down by about $1.25%. everybod
andrews stevens is live in hong kong. start with nina dos santos, live in london. hi, nina. we're reacting first around the world to the debt downgrade but a lot of people are talking about europe, watching what's happening with europe for direction here, which shows you it's not all the debt downgrade we're talking about. good morning. >> good morning to you as well, christine. the debt is the operative word. not just europe but specifically in the euro zone. what we've got at the moment...
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andrew stevens is joining us live from hong kong, so tell us something good. >> i with us going to tell you something good yesterday butcy think i failed you yesterday, carol. there is something good at the moment because wall street may have tanked but europe particularly is up and up pretty healthily at this your hour, between 2% and 3% between europe, germany, and france. that's prosecutor surprising after what we've seen. as you pointed out, u.s. futures are higher so we do seem to be taking a lead on what the u.s. investors in the market are doing. here the markets finished between flat and 1% down. not at a big sell off-off here but both of the two regions amassing huge swings, this isn't help birthday i the high frequently trading we're seeing at the moment, carol. there's a lot of computer-driven trade. the chairman of the australian stock exchange. he said the average amount of time that the share market is in the stock at the moment is 20 minutes so that gives you an idea of what sort of volatility is going on. extraordinary stuff, isn't it? >> extraordinary. that's the least
andrew stevens is joining us live from hong kong, so tell us something good. >> i with us going to tell you something good yesterday butcy think i failed you yesterday, carol. there is something good at the moment because wall street may have tanked but europe particularly is up and up pretty healthily at this your hour, between 2% and 3% between europe, germany, and france. that's prosecutor surprising after what we've seen. as you pointed out, u.s. futures are higher so we do seem to be...
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i'm andrew stevens. you're watching "world business today" and the top stories for today, friday, august 12th, four countries go to protect their banks. a short-selling ban goes in effect today. >> growth slows to zero. >>> and several reasons to celebrate. a reversal of fortune for this group, whose company just announced massive layoffs. >>> let's get straight to the markets now, after some strong gains on thursday. this is where european shares are at the moment. as you can see, some tepid gains. we have the ftse 100 up about 0.5%. you see traded at 5188 at the moment. zurich smi, that market up about 1.3%. and the dax up about 0.6%. one market in particular, it is france. let's look at the cac 40. this is the weak player at the moment. it's virtually flat at the moment. a lot of pressure on the banks for this particular market. the markets are relatively settled now. they were anything but earlier in the week, with steep declines of stock prices that sent investors into a panic. now, four governments
i'm andrew stevens. you're watching "world business today" and the top stories for today, friday, august 12th, four countries go to protect their banks. a short-selling ban goes in effect today. >> growth slows to zero. >>> and several reasons to celebrate. a reversal of fortune for this group, whose company just announced massive layoffs. >>> let's get straight to the markets now, after some strong gains on thursday. this is where european shares are at the...
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to andrews stevens standing by in hong kong where the hang seng closed down nearly 4.5%, not unlike a lot of other asian markets. what did it look like? >> it looked pretty ugly to end the trading week. it's been pretty ugly for a while. what nina was saying and you were saying there's been a correction going on in the asian markets and it did come to a head today. hong kong down 4%, that's a big move for a volatile market like hong kong. japan down 3.7%, australia down by 4%. that's a really big move for australia. australia is particularly sensitive because it's a commodity based index and very sensitive to what's going on with perception of the global economy and this is what this is all about. you've got the huge crisis brewing in europe. you've got recession or no recession, certainly a stall going on in the u.s., and asia still being the engine, manufacturing center of the world, is feeling the effects. it's funny, a bit of deja vu going on. remember 2008, we watched the crisis of lehman's which spirlds into a banking crisis in the u.s. and europe while asia also got hit. we're
to andrews stevens standing by in hong kong where the hang seng closed down nearly 4.5%, not unlike a lot of other asian markets. what did it look like? >> it looked pretty ugly to end the trading week. it's been pretty ugly for a while. what nina was saying and you were saying there's been a correction going on in the asian markets and it did come to a head today. hong kong down 4%, that's a big move for a volatile market like hong kong. japan down 3.7%, australia down by 4%. that's a...
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. >> i'm andrew stevens in hong kong. you're watching continuing coverage of the battle for tripoli. >>> in libya, rebels claim to control most of the capital but gun battles continue in some parts of tripoli. an evacuation boat arrived there today for stranded migrants. the vessel was sent by the international organization for migration and can carry 300 people. to the west of tripoli, renewed fighting is reported near za ware and nato says three surfaces to surface missiles were fired on monday night near moammar gadhafi's hometown. nato is not aware of casualties or damage. the foreign minister is to fly to benghazi today to meet officials of the national transitional council. the chair of the alliance of nations is there to deal diplomatically with the libyan conflict. andrew? >> charles, meanwhile, moammar gadhafi is nowhere to be found. one of his sons, his chosen success, saif gadhafi has reappeared. he unexpectedly presented himself in front of cameras outside of tripoli hotel. libyan rebels had claimed to have hi
. >> i'm andrew stevens in hong kong. you're watching continuing coverage of the battle for tripoli. >>> in libya, rebels claim to control most of the capital but gun battles continue in some parts of tripoli. an evacuation boat arrived there today for stranded migrants. the vessel was sent by the international organization for migration and can carry 300 people. to the west of tripoli, renewed fighting is reported near za ware and nato says three surfaces to surface missiles...
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i'm andrew stevens. welcome to world business today. >> more qe or no more qe some that's the question at jackson hole. >>> and liquidity on wall street. one look at the potential impact of hurricane irene on downtown manhattan. >> but first, ben bernanke's impending speech at jackson hole is front and center in investors minds this friday. let's take a look at how that's affecting european markets. they've opened on the day of the big conference lower with particularly heavy losses coming from the dax down to the untune of 2%. we've also got the cac 40 being led lower by stocks after a company being down graded by one of the brokeragers. but it seems we're raising some of the optimism that we saw earlier this week. >> seems to be that any big moves by ben bernanke is starting on to be discounted now at that meeting. here in asia, it was pretty much the same sort of story. shares edging higher at the start of trade, but the word to describe what was going on here also very cautious. that's how the day en
i'm andrew stevens. welcome to world business today. >> more qe or no more qe some that's the question at jackson hole. >>> and liquidity on wall street. one look at the potential impact of hurricane irene on downtown manhattan. >> but first, ben bernanke's impending speech at jackson hole is front and center in investors minds this friday. let's take a look at how that's affecting european markets. they've opened on the day of the big conference lower with particularly...
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i'm andrew stevens in hong kong. >> i'm nina dos santos in london.'s news leader. let me tell you about a very important phone call i made. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you from paying up to thousands of dollars... out of your own pocket. these are the only medicare supplement insurance plans... exclusively endorsed by aarp. when you call now, you'll get this free information kit... with all you need to enroll. put their trust in aarp medicare supplement insurance. plus you'll get this free guide to understanding medicare. the prices are competitive. i can keep my own doctor. and i don't ne
i'm andrew stevens in hong kong. >> i'm nina dos santos in london.'s news leader. let me tell you about a very important phone call i made. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement...
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andrew stevens joins us from hong kong.for the global stocks today. >> reporter: i think the headline right now is panic over, and boy, a lot of people are very happy to see what's going on on the s&p at the moment, up about 3.7% last time i looked. there's a bit of bargain hunting going on. things are still very volatile but after what we've seen over the past few days, this is indeed greatly appreciated. it's been an absolutely wild ride, though, around the global markets today, after that huge sell-off we saw in the u.s. yesterday. as one stage, just before the london markets were going to open, the futures were pointing to a fall of something like 7%. if you look at london at the moment, it's up by about 2%. gives you an idea. here in asia, there were even more extreme peaks and troughs today. this is all in relation to what went on on wall street and just the sort of, what i keep talking about, this lack of clarity, what do we do. people were voting with their feet, getting out of the market today. in seoul, that marke
andrew stevens joins us from hong kong.for the global stocks today. >> reporter: i think the headline right now is panic over, and boy, a lot of people are very happy to see what's going on on the s&p at the moment, up about 3.7% last time i looked. there's a bit of bargain hunting going on. things are still very volatile but after what we've seen over the past few days, this is indeed greatly appreciated. it's been an absolutely wild ride, though, around the global markets today,...
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i want to bring in andrew stevens who anchored cnn international hong kong.g this, and obviously the international markets, you have europe and asia reacting to the credit downgrade. what has been there response today? how nervous are they? >> reporter: they are very nervous, suzanne. they are reacting not so much to the credit downgrade, because a lot of that had been expected. it was still obviously a shock when it happened, but it's more of the ramifications of the downgrade. what will it mean for the u.s. economy. let's start with asia. i am in hong kong, and it's 12:30, but sounds like it will be another rough day tomorrow. there's a lack of clarity of what it will mean for the stronger term, the strength and health of the u.s. economy. there is a potential of rising interest rates, and will that slow down the u.s. economy, that will worry the asian exporters. we saw the big selloff in the asian exporters, and the commodities, those are people that fuel the economy with resources, and shanghai down 4%. it's the same story in london, only there's another
i want to bring in andrew stevens who anchored cnn international hong kong.g this, and obviously the international markets, you have europe and asia reacting to the credit downgrade. what has been there response today? how nervous are they? >> reporter: they are very nervous, suzanne. they are reacting not so much to the credit downgrade, because a lot of that had been expected. it was still obviously a shock when it happened, but it's more of the ramifications of the downgrade. what will...
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cmn's andrew stevens is in hong kong. an zplu. >> reporter: big falls at the end of the train -- trading week. down three 3 1/2 and 4%. nothing to do with local issues. the policy nation, the u.s. and europe can't come up with the right solution and until they do markets across asia are going to be very, very wary and investors respect going to be investing until they see some form of light at the end of what looks like a very dark tunnel. >> andrew, thank you. from asia to europe, one of the countries causing concern in financial markets around the world, that being spain. our correspondent has more. >> the spanish stock market suffered this week. the index, main index, has lost. but in the past five days, drops 10% of the value. the spanish ten-year bond up 6%. the economic growth of spain has floer lowered in the second quarter. >> the job market grew stronger in july, allison alluded to numbers this morning. the number of new jobs still far from what's needed to put economy out of the dumps. president obama wants to g
cmn's andrew stevens is in hong kong. an zplu. >> reporter: big falls at the end of the train -- trading week. down three 3 1/2 and 4%. nothing to do with local issues. the policy nation, the u.s. and europe can't come up with the right solution and until they do markets across asia are going to be very, very wary and investors respect going to be investing until they see some form of light at the end of what looks like a very dark tunnel. >> andrew, thank you. from asia to europe,...
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writer but it just doesn't -- >> i'm more intrigued by john stevens who has been left relatively unscathed. i mentioned him the other night on the andrew neil show, and the next morning there was a tape recording on my conventional phone on my debting saying -- desk saying, you'll be hearing. you will be hearing. >> did you hear? >> well, that was two weeks ago and unfortunately, i've heard nothing. and that is despite sending repeated e-mails to his secretary saying, i want to hear -- [laughter] i want to hear quite a lot. because it was in a very short space of time that he moved from being chief of the metropolitan police to being a major, one of the best paid columnists in the whole of "the news of the world." a remarkable turn around. clearly, there was a wonderful journalist waiting to get out. martin i mean, the media standards trust may not be known to everybody. its greatest claim to fame, i imagine, is that it's not the pcc. [laughter] >> well i suppose actually, probably better, the better description on this panel is one of the founders of the hackoff campaign rather than -- [inaudible conversations] [laughter] >> but do sp
writer but it just doesn't -- >> i'm more intrigued by john stevens who has been left relatively unscathed. i mentioned him the other night on the andrew neil show, and the next morning there was a tape recording on my conventional phone on my debting saying -- desk saying, you'll be hearing. you will be hearing. >> did you hear? >> well, that was two weeks ago and unfortunately, i've heard nothing. and that is despite sending repeated e-mails to his secretary saying, i want...
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just ahead, andrew stevens is in hong kong. stay with cnn, the world's news leader . luck? don't trade on luck. i trade on fundamentals. analysis. information. i trade on tradearchitect. this is web-based trading, re-visualized. streaming, real-time quotes. earnings analysis. probability analysis: that's what opportunity looks like. it's all visual. intuitive. and it's available free, wherever the web is. this is how trade strategies are built. tradearchitect. only from td ameritrade. welcome to better trade commission free for 60 days when you open an account.
just ahead, andrew stevens is in hong kong. stay with cnn, the world's news leader . luck? don't trade on luck. i trade on fundamentals. analysis. information. i trade on tradearchitect. this is web-based trading, re-visualized. streaming, real-time quotes. earnings analysis. probability analysis: that's what opportunity looks like. it's all visual. intuitive. and it's available free, wherever the web is. this is how trade strategies are built. tradearchitect. only from td ameritrade. welcome...