if i may you know you mentioned these banks particularly german ones are deutsche bank and this is a huge deutsche bank has reduced italy's bond holdings cutting its a spoto to the country's debt by eighty eight percent in the first half of this year is that is that a sign that the big banks really are rushing to cover themselves here that's a big move absolutely it's a huge move and don't forget i mean buying is actually a highly high street bank in italy so it's very very active there the big banks are moving very quickly to get out of this debt i think the problem is that they're using quite sophisticated derivative instruments often in order to reduce their holdings and the problem is those instruments aren't necessarily available to smaller banks in the sea in big countries like france and germany so we actually have a problem because when mrs merkel or mr sarkozy looks at the problem tonight they've got a situation where the big banks may be able to say if you i'm ok i've got out of this problem but actually the smaller banks are the ones who are going to be left holding the ba

deutsche bank was lowered. not only on the and during that crisis, but the united states of america is fighting -- filing a complaint against the bank. they have 1 billion euros in damage claims. they said that deutsche betrayed u.s. authorities. >> we can stay for a quick run to the closing numbers. the dax finished more than a fall 1% higher. in new york, an impressive rally is under way. they finished 14 minutes ago at 11,476 points. the european commission has given german energy giant rwe the go-ahead to it sell-off a high vaulted subsidiary. expense 11,000 kilometers. they say that it would not have any a larger effect on the competition. they would go to a financial consortium that is paying 700 million euros. rwe will retain strategic control. they plan to use the proceeds from the sales to help reduce its 30 billion net euro debt. a swedish company is disposing of swedish operations in poland. they will focus on germany and the netherlands. they are shutting down heat generation plants in poland as wel

that is why the stocks of deutsche boerse were among the biggest losers. inflation in the eurozone is growing at a smaller place, which is good news for consumers. it is also a hint the economy is going slower. that was another reason for the not so good mood on the trading floor. >> let us take a look at the market numbers now. in frankfurt, germany's blue- chip dax closed in-sect -- negative territory, down 0.75%. the eurozone 50 closing up by 0.3%. the dow jones industrials also managed to end the day fifth session in positive territory ever so slightly. the euro is trading for $1.4939. this was government says it will spend 2 billion francs, up 1.7 billion euros, to bolster sectors hit by the exchange rate, including tourism, exports, research, and infrastructure. on wednesday, the national bank injected 80 billion francs in liquidity. the move failed to effectively stem the currency's rise against the euro and the dollar. >> swiss banks are getting fresh cash from the country's national bank, which hopes boosting the amount of money in circulation wil

along the line you need to sell some of your bond issues to overseas investors and if a bank like deutsche of buying basically says we don't want to hold government bonds there are lots of other foreign investors are going to say gosh i could be on to something we don't want to buy those bonds either and the problem for italy is it has a lot of refunding coming up in the course of the next six months in other words it needs to sell a lot of debts no one in the euro zone wants to cure the problem they simply want to throw effectively aspirin to cure an appendicitis annoying everyone is gradually getting the appendicitis throughout the euro zone and unfortunately the way to cure appendicitis is actually surgery. well across the ocean though the world's largest economy has been rescued from the brink of collapse barack obama signed the bill to raise america's borrowing limit with just ten hours to spare before the country was due to default after months of political wrangling democrats and republicans hammered out a last minute compromise which finally cleared both houses of congress however

decided to quit and to discuss this i'm joined by yourself use of one of the chief economist at deutsche bank hello to your reply thanks for joining us so that's a huge do you and that's obviously the most decisive also step forwards to attract international world heavyweight recently what does this mean for russia's investment climate and broader economy i think it's quite important. that attracting. a heavyweight. to russia's strategic structure such as gas is certainly a very important signal to international investors that is more open to foreign investment and bad such strategic sectors can be platforms can be fields for such. operation between russia and western companies so the problem with which russia was grappling before and until recently was the lack of foreign investment currently if you look at. foreign investment into russia still nearly fifty percent if we're talking about long term investment nearly fifty percent lower. what we've seen before the crisis i think such deals such strategic partnerships can serve as triggers for greater inflows. went into russia all right ho

morgan and deutsche bank and of course after that will come the rating agencies because j.p. morgan goldman sachs and deutsche bank were selling products that were chipped away rated by s. and p. but with all these things falling apart everybody losing their aaa america falling apart into a bucket of fraud and nothingness i want. bring up one final headline to think of another option another reality that we could be facing today what if barack obama had been a leader the bull case for gold gold is rising because the world's monetary system is being debased and there is no sign of stopping well what if barack obama instead of engaging in this elaborate stupid awful theater with john boehner what if he had just come out and said you know what forget all these negotiations we're just going to go back to a gold standard and we're going to value it at twenty five thousand dollars an ounce by and just left and that would have devalued all of their debt and they would be on the road to starting over again that's genius it's the reverse nixon it's a reverse nixon now nixon defaulted

so i tasted it or deutsch today by the six or seven times. it's full fee because like i said by the time it gets there it's just wilted and very bitter that they have to chew sugar teat to counteract the taste. so it absolutely blew my mind how any somali that could afford was chewing it in plain sight. >> host: and that's part of the other thing is they need the money for what you describe as an organized enterprise of bishops and taking hostages and getting ransoms in the millions of dollars we should point out on the back of that and in the kind of blow their money on cars, women, cot, may be able bawdyhouse but that's it. they are not putting their money into a 401k or financing their way through dental hygiene school. >> guest: nor is it going in any meaningful way into the economy itself. it is recycled immediately back into the international market so it is almost as if the ransom could be paid in towns of cot because that is ultimately what it ends up going to you could avoid deutsch inspection fees along the way it blows my mind this

. >> deutsche welle will be focusing on the famine in east africa on much of our programming for much of next week. find out more on our website. thank you for joining us.

this affected thousands including at deutsche bank in frankfurt. >> shell oil says 1,300 barrels of oil have leaked into the north sea. >> this is the biggest oil spill in the region in the decade. this is 180 million kilometers away from the scottish section. they expect the oil to dispersed before reaching this -- the shoreline, and that this is 5,000 barrels per day and they will fix this soon. >> after an eight year absence, he is finally back home. the former captainigned a five-year contract with his boyhood home. this is one of the most protracted transfers in modern soccer. >> parceon has waited three years for this homecoming. this is the club and he left when he was 16. >> i have never forgotten that i grew up here. i have always loved this team. >> he was desperate to return to his home city, and the 29 million euro transfer fee probably did not hurt. he has a five-year contract with the club and they're hoping to keep them all lot longer. his buyout is 200 million euros. >> young palestinian musicians yearning for a free state and israeli musicians wanting to live a life wit

♪ deutsche welle >> hello and welcome to global 3000. here is what we have for you today.ow indonesian farmers are searching for oil and their rice fields. -- in their rice fields. children will step but high-tech garbage dumps in ghana and working with water -- managing resources and raising living standards in southern madagascar. farmers are struggling to make a living from agriculture. but you're forced to supplement their incomes through other means. on and indonesia's island, rice farmers are trying to extract oil from abandoned shafts. the region is rich in oil but all the contracts have gone to big companies. farmers whose dry fields are no longer productive, risk their health to extract liquid gold to eke out a living. the oil workers live and environmental nightmare. -- in an environmental nightmare. every 40 seconds, the oil is brought up through the bore hole. when the valve opens, a mixture of oil and water spurts out. the shaft is a wooden construction coated in oil. repairing the is a risky business. -- repairing them is a risky business. there are about 200

the remaining 25% sits in four different operation accounts and in a money-market fund in deutsche bank. also in the month of june, we received our first two checks for our proposition aa funds. we opened a new account. we are currently at a balance of $240,000, and we hope that will reach up to the projected $5 million once we have a full cycle of the funding. in addition, the authority is in position where we have enough funds to pay our debts over the next six months. we also are meeting all requirements of the government authority's investment policy. with that, again, this is an information item, but i'm more than happy to answer any of your questions. supervisor mar: seeing no questions, is there anyone from the public that would like to speak? seeing none, public comment is closed. thank you. could you please call the next item? >> item 8, introduction of new items. supervisor mar: there are no other items. is there anyone from the public would like to comment? public comment is closed. >> item 9, public comment. supervisor mar: and one from the public that would like to speak? p

don't find in any other memoir of and the other man that road with john hunt morgan including basil deutsch doesn't speak of it also buck off laurie is the definitive story, and this involves the use by morgan of small elements of his command. they are in tennessee of the winter of 63 and it is a bad winter and the armies are stationary. the union army is near murfreesboro and the army of tennessee, the confederate army is in the high land is near, and morgan's command is protecting the white flint mayor lynnville and while he is doing that, morgan will detach elements of his command and send them into kentucky. now they come in to kentucky for multiple reasons. one to recruit if they can to bring back men. they need men. but more than that, it was to disrupt union of logistical support systems. the union army was being fed by a line of supply that began at louisville and extended down the railroad tracks through bowling green and then from bowling green to nashville, and that line of supply is what was keeping the union army but the call the army of the cumberland outside of nashville and

ubs and deutsche bank each fell to new lows for the year. hsbc is just above last week's low. each of these stocks dropped 6% or more. tech stocks were not spared. this technology etf shed almost 5% on strong volume. technical analyst michael kahn writes "the bears are in charge." more is on our web site, nbronpbs.org. click on the "blogs" tab. two tech stocks to watch tomorrow. tax software firm intuit and design software company auto- desk. while shares were down during the regular session, both were higher after hours by 4%, thanks to strong earnings and outlooks. as for where the buying was today, video game retailer gamestop gained almost 5%, and volume tripled. its outlook into the holidays was optimistic. gold continues its record run, up more than $27 to almost $1,820 an ounce. and so does the bond buying. the yield on the ten-year government bond briefly dropped below 2% today, ending the day just above that level as investors continue paying up for protection. and that's tonight's "market focus." >> susie: so, what's corporate america's take on the economy? to answer

seven hundred ninety seven dollars per ounce it's being fueled by reports from morgan stanley and deutsche bank. which of cut their forecast for china's economic growth also venezuela decided to nationalize its huge gold reserves pushing gold futures to a record on wednesday central banks all over the world are rushing to buy into bullion order to hedge against depreciating foreign currency reserves you could provide from troika dialog leaves gold is a great long term opportunity in the russian market and russian gold stocks dropped off the lake about ten percent in the last two weeks time. gold prices went up eighty percent so i think this is not fair maybe. buying gold stocks right now in short term not the best idea it's probably better to buy some liquid stocks but for those who are building new positions for me to i'm in long term i think this is really kind of a good opportunity a good chance to buy them. prime minister august second because some economic figures russian gross domestic product rose three point seven percent in the first half of this year slightly below forecasts the

hundred ninety seven dollars per troy ounce it's being fueled by reports from morgan stanley and deutsche bank which have cut their forecasts for china's economic growth also and then as well of decided to nationalize its huge called reserves pushing gold futures to a record on wednesday central banks all over the world are rushing to buy into gold in order to hedge against appreciating foreign currency reserves. from the troika dialog believes gold is a great long term opportunity in the washing nugget the russian gold stocks drops off a lake about ten percent in the last two weeks time. gold prices went up eighty percent so i think this is not fair maybe buying gold stocks right now not the best idea it's probably better to buy some liquid stocks good for those who are building it positions for me term and long term i think this is really kind of good opportunity with chance to. get some a matter of nomics that's now russian gross domestic product has risen three point seven percent in the first half of this year slightly below forecasts the government still expects the country's econom

deutsche bank cut its price target to $36.50 over worries about rising pension costs. and that's tonight's "market focus." >> susie: an update tonight on the case against dominique strauss-kahn, the former head of the international monetary fund. prosecutors in the manhattan district attorney's office this afternoon asked the judge to drop all charges against strauss-kahn. he was charged with sexually assaulting a hotel maid. he's due in court tomorrow for a status hearing. >> tom: government debt troubles are not confined to european countries or washington, d.c. from the tiny town of central falls, rhode island, to jefferson county, alabama, to vallejo, california, city halls and county commissions are wrestling with paying their i.o.u.s. in the case of vallejo, after three years in bankruptcy, a federal judge has okayed its re- payment plan, but those areas are the exceptions, not the rule, when it comes to municipal bonds. last fall, financial analyst meredith whitney predicted a big increase in municipal bonds going belly up thanks to state and local budgets under

days is being seen by some analysts as something of a summer storm you know softness of all it from deutsche bank russia believes sunny times will be back before we know it. what we're seeing is a crisis of confidence. and this is not something that is necessarily predicated on economic developments per se because in terms of the economy itself yes things are not that great in the developed world but certainly we're not at the stage of a full fledged recession it seems to me that a lot of the downward adjustment we've seen in equities especially is speculative in nature and. confidence word to be. instilled in the near term i think the bounce back could be significant. and that's all the business news for now for more stores you can always check out our websites artsy dot call slash business in the meantime states and for the headlines with. for the full story we've got. the biggest issues get a human voice face to face with the news makers on. the latest in science and technology. the future covered. this is a table from the u.s. embassy in colombo to talk about here an apparent june sevent

having a tough time in the recent wave of markets while however you just listen to somebody from deutsche bank believes the ruble could win back some of its positions although it won't be quick. there is scope for the will to recover given the fact that oil prices so far are quite resilient so what we're seeing in the markets is that people are still very cautious and taking on risk and even though the. current levels does look cheap. it does off for significant value at the same time of the fact that risk levels are elevated across the board across the world economy that i think will act as a deterrent to the very fast recovery in the world but i think this recovery will take some time moscow government is getting out of the hotel business and is selling in city run operates as part of its this year's privatization program the hotel company as it's known controls around fourteen properties with two or four star ratings the decision comes off so the firms key invested billions. more decided to pull out the assets somewhere for around two hundred maybe a bill gates. and we will be back in

the rest there's offices on it from deutsche bank believes that the significance of the deal well beyond russia's energy sector. now with this deal there's. greater sign of openness of the sector with regard to foreigners. and bad i think should be a trigger for greater capital inflows into russia russia's inflows of f.b.i. are still around fifty percent lower than what we've seen before the crisis so i think this could precisely be one of those triggers that could finally change the situation with respect to the capital flows issue with respect to africa. but this new deal doesn't mean the end of problems for all sniffs former partner b.p. it's most office has been raided by bailiffs following a decision by the russian arbitration court he is locked in a legal battle worth minority shareholders of its russian joint venture taking taking their demanding three billion dollars compensation following the failure of people's tie up with rosneft in january the company's agreed to jointly develop russia's or which opsec south. russian partners blocked the deal saying it piloted the shareholder

while fears of a dreaded double dip are once again rising in the market yet us of the civil it from deutsche bank says russia is in a better position to withstand a recession than in two thousand and eight so the comparison in favor of today is with regard to corporate balance sheets and the micro level of individual enterprises i think we're seeing a better picture in terms of less currency risk a less currency mismatches. less leverage less debt. that is accumulated. especially if we're talking about short term debt. but at the same time if you take the sovereign level if you take a country level so to say. we do see that the level of fiscal reserves the level of for its reserves is somewhat lower compared to two thousand and eight. well that's all the business is for now the headlines are that. it can hit doctors wives policeman's wives minister's wife and i just. if you didn't find me if i could slip through the night that i would get my kids out of here because i knew that what was going to happen was that he was going to kill me many victims don't understand that domestic violence incl

fears over dreaded double dip are once again rising in the markets the us of us of all that from deutsche bank says russia is in a better position so the sun the recession that it wasn't two thousand and eight so the comparison in favor of today is with regard to corporate balance sheets at the micro level of individual enterprises i think we're seeing a better picture in terms of less currency risk a less currency mismatches. less leverage that. has accumulated. especially if we're talking about short term debt. but at the same time if you take the sovereign level if you take a country level so to say. we do see that the level of fiscal reserves the level of forest reserves is somewhat lower compared to two thousand and eight. so was the slugs the sour for sore as you can always heads are websites are seen dot com slash business in the meantime satan for the headlines without us. all. closer. to the behind the approach. the bump bump future flights on the bar to take. to the max air show. we've got. the biggest issues get the human voice face to face with the news makers . this is the wa