time now for the business news with us davis. hello and a very warm welcome to the business update the russian ruble has lost forty percent of its value in one day on wednesday the country's central bank allowed a chorus e. to sell at market rates in a bit to ease the worsening financial crisis the currency fell to eight thousand six hundred rubles against the dollar compared with the official rate of five thousand three hundred it's the second time since may that the currency has been allowed to devalue move comes amid an effort by the government to make the country's exports more competitive but the official rate will remain in force for the state owned companies buying imported materials. german truck maker man says the crisis is over in russia's automotive industry the company is expected to double its sales this year it's also building a new plant which it hopes will produce a lot of vehicles sold in russia by twenty twelve companies representative in russia outlines the sales dynamics. terrible drop in still to two thousand

we've prepared for business cards for your new business. >> how beautiful.ook at these. >> we found our two business owners more confident and ready to turn the page in a new chapter of their playground business. >> i have absolute confidence. i see it in you. maybe you don't hear it, but it's in your heart. you've got it. it's going to work. you're going to do it. >> no. it was an honor. take care. >> we appreciate all that y'all have done for us. >> thank you. >> thankfully we were able to get mike to come in from the playground to talk to us today. as we mentioned he's the author of the best-selling book "the toilet paper entrepreneur" and the finder of on siddian launch a company that provides online behavorial services. and jason goldberg is the c.e.o. of fab.com a website that offers sales from leading designers and manufacturers. you are a serial entrepreneur. you've already sold two companies this is your third and fourth. >> number four right now. >> great to see you. mike, amazing piece. >> it was wonderful to be out there. they're true american en

business partners invest in your business and new orleans invests in my business, people on the street the community, my friends, the businesses here. i mean, they want me to succeed. and you know, and in ways that are beyond just capital investments. >> stick around, when we come back, we tell you what you need to know to export your products overseas. and what name did they choose for the playground business? we go back to asheville, north carolina, as we complete our small business makeover. shazi: seven years ago, i had this idea. to make baby food the way moms would. happybaby strives to make the best organic baby food. in a business like ours, personal connections are so important. we use our american express open gold card to further those connections. last year we took dozens of trips using membership rewards points to meet with farmers that grow our sweet potatoes and merchants that sell our product. vo: get the card built for business spending. call 1-800-now-open to find out how the gold card can serve your business. >>> earlier, we introduced you to evelyn anderson and jerr

medium business so you are having the department of the new businesses within the agency you said that the agency is aiming mostly at head medium business small business but but new business must be to be small or not or i'm mistaken you know you you can be medium a business person or you heard can have all really. done something and you can have a factory for example but you want to start with something else new be insulated or you. we'll see you young or innovate you know you can have any idea of new business for example you want to make something which can be replicated in all regions of russia and you want to make your medium business try to grow up you want to be to become a very big large company and you come to agency and you come up with different problems and they can be problems over attractive financing find investors they can be problems of some administrative barriers commercial barriers and all these thing we. help you to cope with. what's the criteria according to which you are going to evaluate the the success of the projects or the criteria is. we'll. be divided by two

of the joint stock company gaiman world also i have been here is he's the editor in chief of business new europe and we also have tom when he's the chief strategist at a critter but first let's have an overview of russia's privatization goals. the multi-billion dollar privatization plan will see the russian government sell down its current fifty five percent ownership stake in the economy it has strategic objectives well beyond the budget bottom line they mean. in my view. the government is not the. manager. or corporate management is not high. diversified structure. it is a very good point. the other natural target is definitely modernization. growth corporate governance procedures transparency this actually wants from state on companies right now to be beyond. international investors international political process it's impossible to meet. everyone. just wants them to do but the deteriorating google has some questioning where the shirt should be delayed there's not really nice. in the market it's the same time however the global search for investment value means the russian coming to th

of the joint star company dining world also i have been here and he's the editor in chief of business new europe and we also have tom when he's the chief strategist a quitter but first let's have an overview of russia's privatization goals. the multi-billion dollar privatization plan will see the russian government sell down its current fifty five percent ownership stake in the economy it could object to well beyond the budget bottom line they mean. in my view. or the government is not the. manager. of. the garm. diversify the structure. it is a bit with boy. every . other and throughout target is definitely more than ization. corporate governance procedures. so once. wrote a novel. international investors international with the progress it's impossible to meet. everyone. just wants them to do the deteriorating google has some questioning whether she. should be doing it there's not. nice. beaches in the market at the same time however the global search for investment value means the russian that's coming to the blog could distract greater interest regardless of the timing the privatizatio

that is all for now in business news. back to catherine. >>> in afghanistan taliban fighters have attacked the u.s. embassy and other facilities in the capital kabul. at least seven people have been killed. afghan police say armed insurgents fired rockets at the u.s. embassy on tuesday. the nearby headquarters of the nato-led international forces was also a target. police say the attacks soon developed into gun fights between the taliban and afghan security troops. the interior ministry says the shooting killed four. the u.s. embassy says four afghan citizens who happened to be inside the embassy applying for visas were injured. the bombings killed three people. a taliban spokesperson told nhk that the organization is responsible for all the attacks. president hamid karzai on tuesday released a statement condemning the actions. he said this will not stop the transition of security from international to afghan forces. secretary of state hillary clinton said the united states will ensure the safety of its people there and s

>> starting new businesses is critical to fixing the economy. the economy's broken. if we want to have robust growth again we've got to have new companies being founded. >> tom: dr. carl schramm with the kauffman foundation, thank you very much. >> my pleasure. >> tom: we talk with several young business owners to find out how they went from an idea to running a successful company. our special "young entrepreneurs" airs this labor day, monday, september 5. >> susie: a big legal victory today for s.a.p. in a long- running copyright infringement case against rival oracle. originally, a jury awarded oracle $1.3 billion in damages. it was the largest-ever copyright infringement award. oracle claimed s.a.p. improperly used its programs, but a judge called the verdict "grossly excessive" and reduced it to $272 million. s.a.p. says it's gratified by the decision and the reduced damages. oracle plans to pursue the case until it receives what it calls "the full amount it deserves." despite hurricane irene and turmoil in the stock market in august, u.s. automakers still managed

well ahead of the business news let's quickly now check out. with other news from around the world making headlines in our world up. with the school bus in the pakistani city of peshawar killing four children the driver was taken from within your old students home when the gunman struck we know claims responsibility for the attack so far northwest in pakistan is torn between government supported tribal armies and is most militants with links to al qaeda have carried out hundreds of attacks against civilians in recent years. two passenger trains in the past collided in the argentinian city of bombers are is killing nine people and wounding two hundred twelve some of them critically the crash took place during rush hour when a passenger bus drove around crossing barriers in an attempt to save time and was hit by a train throwing it onto a platform express then the rail and hit another that was going the other way. sex abuse victims of severely claims to the international criminal court and political sixty cardinals to be investigated for possible

and there's the business news the sound small stories you can always have told websites that alter ego called slash business. feel. the limits. to. the band. more news today. and fled the film these are the images the world has been seeing from the streets of kenya that. shine corporations are today. in the. square so it's a luxury hotels bangkok saw a long. time call a memory watergate hotel and princess hotel marriott cool john hotel panko suite hotel one called the imperial queens poker results in school who turns. new supply and spawn to sid found her golden cliff resort and spa photo a one world cruise hotel a discovery for the church and children. to see one for pure results just didn't suit her couldn't hold her own.

memberships not the end game but first let's get all of his business news with you dear. frank salih hello and welcome to business sarsi great to have you with us the russian ruble continues to retreat against the main currencies it has made the lowest level against the u.s. dollar in ten months the central bank says the value of the free floating ruble will be decided by the market. new very deeply appreciate it actually very seriously so you have no god it's in the strange way to change the law the legal the supply demand and the most it goes you've. said you're going to push your issue to believe that the united nations even though it's a good habit it could be judicious for both george. let's have a look at the markets right now the oil prices bounce upon it from the losses in previous sessions where escalating fears over the eurozone debt crisis continue to stoke concerns of a demand wide sweet is currently trading at around eighty six dollars a barrel while brands as around one hundred ten dollars per barrel. european markets are trading on a positive note the sentim

that is all for now in business news. now back to catherine. >>> a russian military official says the latest military drill off russia's far east is designed to protect its sovereignty over the continental shelf over the region. 50 warships and aircraft are taking part in the russian exercise which began in the kumchat peninsula off of the end of the month. the drill is designed to protect them. russia has recently been pushing its claim over the continental shelf in the arctic ocean where the diminishing glaciers are are exposing a research rich sea bed that has put the country at odds with canada and other countries in the region. >>> gentleman fan has launched a protest over a high-ranking russian official's visit to russian-held islands claimed by japan. security council sec. tear nikolai petrushev traveled to two of the islands sunday. he went to kunashiri island. the foreign ministry director-general said the act was unacceptable and reiterated the position that the four islands are japan territory. bely replied the

and there's the business news this out small stories you can always had to websites that are called slash business. coming. up we'll. the limits. sluiced see. subsists. period. safe. thank. you for. the news today violence is once again flared up to feel these are the images the world has been seeing from the streets of canada ashu for showing up for a shelter all day see some. in the. soup it's a look. i'm told one called a memory which he gave hotel. married cool john hotel one called. the imperial queen. results in. new supply and spun. and spun photos a woman goes through such a discovery beach hotel. to see. who turns. in israel. and israel calls for a resumption of bilateral peace talks with the palestinians seen by many as a last ditch effort to prevent them from asking for recognition on the world stage the palestinians plan to formally ask. the latest of six countries to have taken at. turkey's president. the issues facing immigrants in germany this comes as some germans say they feel threatened by the ever growing wave of immigration.

i'll be back with a recap of all our top stories but first the business news. hello and a very warm welcome to the business update three e.u. energy majors have agreed to take a fifty percent stake in russia's project the natural gas link will go on to the black sea and then on to italy and austria it's meeting europe's growing energy demand italy's any will get a twenty percent stake while germany's whole and the french firm will each get fifteen percent. of the signing wealthy saul stream pipeline deal spells bad news for ukraine when completed russian gas supplies to europe will bypass ukraine and reduce its ability to leverage just counts and with the possibility of no gas to transfer to europe he says might have to close part of this network separately crane has reportedly agreed to buy gas from turkmenistan as an alternative to russia whether the only way for kiev to get deliveries from tremendous is via russian pipelines. all the brightest minds in russia are celebrating five years since the opening of the school of a business school the project is aimed

we are joined for the latest in business news. japan is coming out of a three-day weekend. the markets have a bit of catching up to do. >> absolutely. the dow jones industrial average closed a touch higher on friday buthat is after two days of heavy selling. the global economic outlook remains shaky. we are headed to the last trading week of the third quarter. let's see how things are in japan this morning. we will go to ra mean at the tokyo stock exchange. markets were closed last friday. how are things looking? >> the markets are gooep gearing up for the last quarter of the calendar year following a volatile, negative quarter in the u.s. and in the europe and the first fiscal year half in japan. just having a look now, this monday morning at the nikkei and the topix after that three-day weekend as you mentioned. and marginally lower. not a great move but still in the negative in the first few minutes of trading. the ni nikkei has been down 4%. wake data out of the u.s. and how all of that has played in to the the yen which has further gained against both the dollar and th

all for now and next is the business news with marina. hello and welcome to business here on our new pipelines are sprouting across russia and on the other side of the country from nordstrom the roof a gas pipeline provides a new artery to markets in asia and business artie's that jennifer you call a travel there for us this land is surrounded by some of the most and there are jihan green nations in the world consumption in places such as south korea or china is growing rapidly offering great about should its full gas prone to cash in especially the now as it has loads of gas close to the region and read it to be exported this new gas pipeline which will lead to more putin is opening rounds from fact highly into vladivostok it is able to supply thirty billion cubic meters of gas annually bazza the russian seat is the round here need just a tiny part of that and that's why gas problem is desperate to find buyers for its extra gas and doesn't talks with several contras but it's not all so easy at the moment talks with china are dragging ove

let's also get a recap of other market figures. >>> that is all for now in business news. back it catherine. >> thanks we much, ai. >>> japan's prime minister noda and u.s. president barack obama will hold their first talks next wednesday in new york. noda will be in new york from tuesday to attend the general assembly session and the u.s. security and safety of atomic generation. they will confirm the importance of the japan-u.s. alliance and are expected to talk about deepening relations in various fields. as to the location of the u.s. marines air station in okinawa, they are expected to confirm an existing agreement between the two nations on the issue should be achieved. the agreement reached in may last year stipulate that the functions of the base should be transferred to a new airfield to be constructed on the coast of nago city, also in okinawa. in a message to the world economic forum, noda said japan will contribute to the international comnity despite the march 11 disaster. >>> the prime minister sent a message to the annual forum meeting in china's northeastern

that's all the business news for now have some more stories you can always head to our web site that's called slash business. in the faraway land where human life is ruled by nature. the destruction of planet earth is scarcely preserved by the per. inch a minimal lie hidden in the deep permafrost. and to those who deal with them through stored times are still not to look for. more news today violence is once again flared up. these are the images cobol has been seeing from the streets of canada. showing corporations are today. eleven thirty am in moscow these are your headlines israel calls for a resumption of bilateral peace talks with the palestinians seen by many as a last ditch effort to keep them from asking for recognition on the world stage palestinians plan to formally ask for a seat at the united nations. euro zone's third largest economy takes a hit below the belt as its credit ratings downgraded sparking fears of an even deeper financial crisis italy is the latest of six euro zone countries have taken a credit tumble this year. multiculturalism under the microscope turkey's p

that's all the business news for and for more stories you can head to our website r.t. dot com slash business but in the meantime stay tuned for the headlines with matt's . shoes that say much to me i mean it's never really. a currency crisis in the future but is there a simple. the global economy. free. free. free. free. free. free. free. today. these are the images. of canada. seven thirty pm in moscow these are your are the headlines stronger relations for mutual benefit russia and the u.k. agree not to allow their divided opinions on issues including the litvinenko scandal and the resolution to the syrian crisis stand in the way of a political and economic partnership. generating power iran plugs its first nuclear plant into the national grid the facility had to share was built with russian help and will reach full capacity by the end of the year. italy moves closer to the center of the eurozone debt crisis as its crucial austerity package enters the final stages triggering a new wave of protests that tough spending cuts and the much debated fifty four billion euro

that's all the business news for now the most stories you can always have to website that's called slash business. me. in the faraway land. where human life is ruled by nature. the distant past of planet earth is scarcely preserved by the clear. from the animals lie hidden in the deep permafrost. and to those who deal with them restored times are still much of. this was a city. of about one hundred ninety thousand people and we had eighty thousand people working for general motors. or a job that depended on general motors. general motors as if it's not relations you it might be your neighbor or somebody you knew so it's kind of a family run business you know myself i'm third generation my father was working there and you have a lot of two three and four generation families are there first let's understand it . this is a man doesn't want. he should not. it is gong to want a man to work. i think for a long time this notion in america that bigger was better was simply an undisputed fact in the twenty first century smarter it's going to be better general motors simply became too large for th

and that's the business news this hour for more stories you can always log on to our website that's out. in the far away line. where human life is ruined my nature. of planet earth is scarcely preserved by the the. lie hidden in the deep permafrost. down to those new with the. real story times are still not local. this was a city. of about one hundred ninety thousand people and we had he thousand people working for general motors. or a job that depended on general motors. general motors if it's not relations you it might be your neighbor or somebody you knew it was kind of a family run business you know myself i'm third generation my father was working there and you have a lot of two three or four generation families that are there first let's understand that. this is a family doesn't know what. he said. it is not a man to work with. i think for a long time this notion in america that bigger is better was simply an undisputed fact in the twenty first century smarter better general motors simply became too large for their own good and so many brands the p. couldn't even keep up with digi

and that's all the business news for now but don't forget to check our website r.t. dot com slash business for more business stories. lulu move move . well see british science it's time to. market why not. come to. find out what's really happening to the global economy with mike stronger for a no holds barred look at the global financial headlines tune into kinds of reports . eleven thirty am in moscow these here are t. headline the greek government set to approve more unpopular taxes as a tries to convince european lenders to hand over another slice of the bailout to avert a looming default meanwhile the greek prime minister will hold talks with the german chancellor and for lent as the debt crisis threatens to spiral out of control. the u.n. security council prepares to submit the palestinian statehood bid for recognition and despite fierce objections from israel and the u.s. which is about to veto the move but palestinians could still get partial recognition from the general assembly but they already have all majority of support . nine out of ten new jobs in the u.

. >>> well, joining us now with the latest in business news, exambling to not large a loan to greece, what's the latest from euro zone members? >> catherine, they are one step closer to their goal. lawmakers approve a plan to increase the size after euro rescue fund. the move comes despite the country's caution in extending more help for greece. finland's parliament voted on wednesday in favor of expanding the fund. the changes will allow the bail-out fund to buy up government bonds of nations in a budget crisis and boost the balance sheets of financial institutions. the funds will also help greece who is in excessive debt. >>> there is a similar motion in germany on thursday. it may also sway decisions to be made by other nations facing opposition from citizens about another rescue package for greece. the 17 euro zone states aim it win approval for enlarning the rescue fund ahead of a g20 meeting in mid october as the european debt crisis is becoming a focus of the global economy. meanwhi meanwhile, france aims to cut its budget next year it ease credit worries in europe. >>> the fre

that's all the business news for now if the north star is it could always have talked about science that's called slash business. in the faraway land where human life is ruled by nature. the distant past of planet earth is scarcely preserved one of the. interim animals lie hidden in the deep permafrost. and for those who knew with them restored times are still not good for. more news today violence is once again flared up. these are the images the world has been seeing from the streets of chess.

that's all the business news from all small stores check all websites archie dot com slash business. we'll. bring you the latest in science and technology from the realms of russia. we've got the future covered. wealthy british style. crisis money. market. scandals find out what's really happening to the global economy for a no holds barred look at the global financial headlines in two cars a report on our. welcome back you're watching live from moscow and our developing story this hour nato reportedly bulldoze a serbian road walk at the border with north kossovo follows news that a shoot to kill policy was in force near the disputed checkpoint as i grew they are reached new heights. greeks are bracing themselves for yet more costs higher taxes and the latest round of a sturdy measures blistery by the government it's part of a bid to prove the nation is for another slice of the bailout cake the decision was suspended earlier over the country is doing enough to reduce its enormous debt. i mean she has said he ever did her putin would have stood for the same goal is it running.

one store in new york she gets the attention. ♪ let's hear it for new york >> starting a small businessther it's here in new york city or in your hometown takes funding. so, that's one of the big topics here at the small business summit. do you go with a venture capitalist or company. people are asking these questions. we are sitting down to talk to brian today. thanks for joining us. >> thanks for having me. >> you raised $35 million for your company. you are author of the book "inbound marketing". >> that's right. >> so you have been a venture capitalist and you raise money for venture capitalists. >> yes. >> what do you think about venture capital money, pros and cons? >> i'm a big fan of it. i think of a baseball analogy. a venture capital his, if they are a baseball player, ten at bats, they are trying to hit a grand slam on every hit. they make one grand slam and strike out ten times. it's a risky gain. if you are going to raise money from a venture capitalist, you have a chance to become a billionaire which is nice if you want to be a billionaire. there's a high likelihood you wi

and that's all the business news for now but don't forget to check our website in our consul ask business for more business stories. on. lulu move. move. to. british. hi guys.

that's all the business news for now for more stories you can log onto a website r.t. dot com slash business. like millions of americans i've lost thousands of dollars in retirement funds and i haven't had as bad as many it's not just about them there it's about me to. me man brown the ya gotta share. g.'s o. double. needed. now. since this is my film i get the last word this financial crisis will not be turned off like a light sweet. watching r t live from moscow and here are the top stories today libya's national transitional council is given a seat at the you went after the security council adopts a new resolution which also eases sanctions imposed during get off his regime but his new authorities are still fighting for control over some cities including that off his hometown of syria. meanwhile there's another bid for u.n. recognition with the palestinian president vowing to launch a bid for statehood despite a new west promise to veto it and that's a some israeli west folks out there say they're ready to leave the area but that their government won't let the. growi

businesses that create jobs, frequently new businesses are smalln mistake for the fact that the smallness in some way has to do something with job creation, but it in fact does not. it's just that new businesses tend to be little. give us a sense of how many new businesses could be created if we were to adopt the internet as a capital market where we can form capital and invest in businesses. how big are the possibilities? >> well, if you look at the success of crowd funding sites over the past five years, i think you'd see if we extrapolate out, we can probably create 500,000 new businesses over the next five years from just getting capital flowing to the young new ideas. >> and you're saying the biggest issue with raising money on the internet, which goes to the blue sky laws of the 1920s and it goes to why we have securities laws for a good reason which is to protect investors, in this case particularly small investors who may be appealed to the idea or the neighbor's company or whatever it might be from ending up investing in businesses that do

minutes past the hour special interview coming up your way shortly and the sports just ahead of the business news with marina. hello and welcome to the business here on the right see the leaders of greece france and germany are all seeking a way it's a can see are named european debt crisis here is that greece is heading towards a thaw have something interest rate on its government bonds to record the highs but doesn't have much to worry about i was taking off for morgan stanley explains. russia is actually a much better position and other central european countries say turkey in the region because it has less strong trade and investment relationships with europe because it's more of a global trading country and it depends on the price of global commodities such as all which depend growth in emerging markets such as china and india. so russia's for each is toyed with the growth of china and india are not at the moment looks reports and hasn't been affected by the downturn in developed markets and as compared to other. countries i think russia is in of course with brazil as essentially a commodity

wednesday make the flight to charted route in oc start rn japa recap now >>> that is forow in business news. thanks very >>> north premiers talks. on talks have beennce december 2008. korean with his counte china hopes c improve th the six soon.ould get korean premierstheir cooperateengthen bilateral economic trade andture. >>> the c it will launch to space station. they reported the n space stationed to blast rocket from the l thursday or will serve orbitable that'sitable test bed fortechniques. dockings scheduledned and craft. build its by around strong concerns inunity thatram could have a military group of archers atjapanese universityverepair damaged spimice. ips c induced cellsop into tissu. treated 31 m paralyzed. nervetransplanted them int cords nine d injured. mice in mobility and were able to the ned the nerve cells were functioning astor: this is the first providing treatment for who have . >> documy wikileaks say japan u.s. president barac trip to the country diplom the u.s. embassy in washington in sep cables includi between then j minister u.s. ambassador reg that id that unle

explains why he thinks some western powers feel the need to meddle in other countries affairs first business news with an older. hello and a very warm welcome to a business update in use and to trust authorities have rangers european officers of gas over possible breaches of competition rules the company's partners are w.e.e.e. on and also subjects of the investigation archie's dental bushell is reporting from brussels. there was a coordinated raid across the offices not just of gazprom but it's the suppliers and the intermediaries companies like german energy major all w.-e. who can supply heat and electricity or consumers like homes and offices there is a because asians are price fixing the relationship between supplier and intermediary are too cozy and there's not enough competition on the gas markets in europe the european commission has issued a statement saying it suspects exclusionary behavior such as partitioning obstacle to network access barriers to supply diversification as well as possible exploitative behavior such as excessive prices is being seen here in brussels as a final check u

right just moments away from the business news here on r t but for now the u.s. is deploying new drone at bases in east africa to intensify attacks on al qaeda operatives but while the policy is saving american lives it has already resulted in thousands of civilian deaths in pakistan as he's gone each account reports. the u.s. is aggressively expanding its drone war by setting up more and more bases for those unmanned aerial vehicles or the u. a.v.'s they're armed with laser guided bombs and air to ground missiles and network of those drone bases is unfolding in east africa ethiopia is hosting the fleet of hunter killers as they call them in the military a similar installation has opened in the seychelles a new base is under construction now some very near arabian peninsula to enable more flights over yemen and all this as u.s. officials say is being done to target al qaeda affiliates in the region drones have become the main weapon of america's undeclared war so it's a new kind of warfare one that the u.s. is waging without sacrificing the lives of their soldiers

all the latest business news on the way now with ready to go. hello and welcome to business here on our at c the world bank says the risks to the global economy are rising and so are the risks two of russia's growth the slowdown in the us and the that crisis in europe are all going on the country's economy the world bank has cut its g.d.p. forecasting four percent from floor point four percent for this year but high oil prices and lower inflation could help russia sustain growth. but i think that you should really. look at your situation in russia is fairly favorable we are in surplus city there are probably almost there was a budget this year and i think that temporary paper will situation should be used including the more serious medium term fiscal constraint and reducing the known fiscal deficit in medium term which i think would be important for russia to significantly strengthened its in its fiscal position over the medium term so i think you'll be picturised to show three pictures favorable but there remains serious leading to a major struc

not what the viewers are expecting i think ok let's get some business news now because they've heard that's what dimitri. i think they'd be better off sourcing their differences on a football pitch like most russians but as to us being severely dry on the deal that puts the sea on this stream gas pipeline and already russian companies are rubbing their hands with glee they're expecting an avalanche of construction contracts by producer kim k. says it's going to be a boom time for the company. let us approach it is to look at the stage of technical design so it's difficult to get to any details but of course we are engaged in the projects under getting prepared for it so it's true providers we were in school the next two to three years. of the really the signing of the south stream pipeline deal spells of bad news for ukraine when completed russian gas supplies to europe will bypass ukraine and reduce its ability to leverage the scouts and with the possibility of no gas to transfer to europe here says it might have to close part of its network ukrainian energy minister uni boy says th

. >>> now to business news. "the l.a.ports that bank of america is planning to cut 40,000 jobs nationwide and it will hit california hard. the country's largest bank is preparing to slash consumer banking operations, taking a heavy toll on branches, loan centers and other offices throughout california. they have 45,000 employees in the state. about 1 in 6 of its nearly 300,000 person workforce is in california. the cuts are expected to happen over the next several years. >>> president obama promised to sell his $450 billion jobs plan to the american public and started today in richmond, virginia. this trip is part of a months long sales job to congress to pass the plan and put americans back to work. jennifer johnson shows us how the president is hoping to woo lawmakers with the american public on his side. >> reporter: president obama is already on the road. today in richmond, pitching his $450 billion jobs plan and asking americans to push lawmakers to get it passed. the proposal goes to congress next week. >> i want yo

brings up to date as promised the business news is next here we'll stay with us for. no time for your business update ukraine is preparing another move in the gas dispute that's become a chess game with russia the country's prime minister says he wants to close down its gas not only not to cut parties like theater shots we have the details. ukrainian gas monopolist natural gas company will cease to exist that is according to the ukrainian prime minister he stated that in the next several weeks they will find means to rest the company and liquidate the figure in its present form and we also understand that ukraine's president also said that by the first of october the company will be completely restructured renamed and all of its duties will be delivered to several different companies we understand partly enough to get us monopoly of them and after gas company will be merged with the russian gas giant gazprom and we've already heard confirmation on that from the head of the gas from company that is very interesting especially given the fact that ukraine has been pushin

backfire at their own security forces are going to record it right there when it's a big day for business news to stay with us to retreat next. thank you so much russia is seeing another bad day very bad day on us markets heightened fears of a new global recession are hitting the oil price this is weighing on domestic issues more correspondents are you going to live as a. stock exchange in central moscow eager how bad does it look at the moment. indeed it's looking terrible and the news is getting was by the hour now the latest information which we have is that is done by six and a half under my six is done by nearly six point three so it's not actually possible that the figures today will be as low as much of all of that because yesterday one of the markets called by stubborn by eight percent so this is always sure to conclude the worst week of trading on the russian markets this yeah now we've spoken to several experts around here some are saying that these figures are not permanent this is just a reflection of a lack of confidence i would jump in a single market was saying that this is the

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