the infmation and warnings that the prime minister ignored. >> rose: joining me from londone "financial timesand catherine mayer, the london bureau chief for "time" magazine. it was t prime minister's day today in london. lionel, how did he do? >> i think i'd give him sevennish out of ten. he was fairly assured, and he did offer what one might colson a conditional apology for hiring andy colson, the former editor of the "news of the world," which of course is at the center of this phone hacking constantly. mr. cameron has been left in the dust by the opposition party leader, so he's had a ways to come from behind, and serious questions still surround his matter of judgment on why he decided to hire mr. coulson. >> rose: he said nothing thatwot in the hiring of coulson, even though he had been warned? >> the prime minister clearly attaches a great deal to personal loyalty. as he told the house of commons today, he asked mr. coulson whether there was anything he had to hide, whether there was anything wrong, and mr. coulson has also given evidence before parliament. he's been interviewed by the

we're joined now by former financial times correspondent david don't live from hong kong thank you for joining us today here on our team now there's been rumors that the e.u. is considering leaving a new tax on banks to pay for the bailout do you think that forcing private investors to chip in is justified. well i'm sitting seven eight thousand miles away in the depths of asia watching from outside it's perhaps inappropriate for ours to tell the europeans what they need to doing detailed terms our main concern has to be that whatever is done stabilizes what is at the moment an extremely unstable situation it appears that the reluctance of germany to to countenance private private investor. is part of the problem in reestablishing confidence if that's so then yes of course we believe that that that is essential that's part of the solution at the moment however where we're worrying more than a thing else about both europe and the u.s. slipping deeper and deeper back towards a recession where indeed you see an unstable situation there will the e.u. or the euro i should say get through thi

i was in the middle of writing the financial times story about women entrepreneurs and afghanistan and i was writing the case for the harvard business school and some of them were really interesting but then i met this young woman who was telling me during passionately about her third business and why entrepreneur ship was the answer for so many of the afghanistan clothes and i said will barely 30 and i know you're not 30 so how do you know that much about this? she looked at me as if it were so obvious and sidley tikrit business of the taliban that support of all these women in my neighborhood of and i was supposed to be a professor but was those years that may be an entrepreneur because i learned about business because my family was counting on me and that is i thought what a story that stands for so many of us. >> host: colorado is next. good afternoon. colorado, are you there? okay. let's move on to georgia, please. are you on the air? georgia, go ahead, please. >> caller: first of all i want to thank you for writing the book. i was so angry when i heard that americans just to dism

joining now to discuss this ongoing story isndrew edgecliff johnson of the financial times. i am pleased to have him here to provide some context to this extraordinary day on one more day in the story. welcome. >> thank you, charlie. >> so where is the story, is it simply waiting for the appearance of the ree of them, murdoch, murdoch and brooks on tuesday? >> i can tell you today is not the end of the story, the resignation of rebecca brooks, and tuesday probably won't be either this is a story which will run for mons if not years with police investigations, judicial inquiries, lawsuits and any number of other threats still piling up against the compan but it's a significant day. i think over the last two weeks we've seen a series of attempts by rupert murdoch and his closest counselors to take the pressure off, since the allegations first exploded that the news of the world had authorized the accessing of the- - missing teenager who turned out to be rdered mile dowler. in is exploded in the public mind in britain and has spread around the world affecting even u.s. investor

without commenting on the specifics about the piece in the financial times that you referenced. settled in a political settlement. i think that's clear. why is it hard? there's been a conflict there for a number of years. the taliban is not an enty that works at a specific address. you have to get these things to a point where you can have a set of reasonable conversations. what we have said, though, quite clearly and the secretary of state said this in her speech earlier this year, that the united states is prepared to work with the afghans to work toward a political settlement and to bring the parties to the table without pre-condition. as the president said in his speech the other day, reconciliation will require the taliban or anyone else who comes to the table, to agree to renounce violence and al qaeda and agree to the constitution. but it is an interactive process if you will, fareed. and i think we have all of the elements of that process underway here. >> are you hopeful that you will see results in the next few months? >> i can't predict that at this point. what i can

managing editor for the "financial times." i want to go round quickly with a "where are you now"? >> we're in a mess. there's going to be a vote in the house tomorrow on the boehner plan. it's under siege from the right tonight not from the left. conservatives have come out and said it didn't do enough. we want more. we want a balanced budget amendment. there will be conservatives who vote against it. the question is can it pass the house? if it doesn't then the action moves to the senate and it will be harry reid's ball there. >> brown: what about on wall street and international marke? where are we today? >> international markets are absolutely on tender hooks because up until now there really has been a pretty... assution that sooner or later politicians would strike a deal. probably last minute but a deal would be done before august 2. right now the thinking is not only is there a growing risk know the rating agencies could downgrade the u.s. even if there is a short-term band-aid solution but secondly there may not be a deal by august 2. so a lot of people in the financial ma

but that is the situation turned two days ago, "the financial times" in britain ran a leaders saying that her position was untenable. the very same day, robert murdoch issued a statement that made it very tenable. >> thank you very much for sharing your experiences. let's get some of the day's other news. dozens of people have been killed in violent clashes between rival political groups in karachi. >> that is right. the violence has continued for more than three days. in some neighborhoods, gunmen opened fire on buses. security officials say they have detained several suspects and were trying to take control of the situation. >> parts of pakistan's based city are under curfew. there have been several days of intense gunfire in western neighborhoods in karachi with clashes between rival political groups escalating. as the violence worsens, the bodies continue to arrive at the morris. dozens of people have been killed in the last three days of fighting. many more have been injured. dannon had even opened fire on city buses. [sobbing] >> some people started firing at the bus and killed

the financial times. you mean you did more than two people to hear about this. so i theorized -- not to arrest, but believe the reason we did this because we look at europe during the often decline. i recall dean acheson, one of our best secretaries of state, who always said that we will be very close to burden. many, many lakes. we are almost cousins. but he always said, be aware of exaggerating the special relationship. it will do them harm and it will do us harm. i am paraphrasing. so i still believe that. but i believe that the ground is shifting very rapidly. we have now britain and france or collaborating on nuclear weaponry, aircraft carriers. i mean to my wonder if the nelson statute is still standing. it is unbelievable what has happened in the last six months. and so i think that this whole thing will move pretty quickly. i think libya will be an ingredient in that. so, i still believe that. things a changing. i think mr. obama has a slightly different perspective on that issue. does that make sense? >> thanks you very much for your comments. you menti

but the reality is we're in tough financial times and you have to prioritize in tough financial time. >> reporter: the chief says he is proud of the officers association for, quote, doing the right thing. now, we have learned about the motorcycle unit that they are ditching the bikes but they will, allen, pick them up but only for special occasions like parades or dignitary visits. >> really, the officers had no choice, i'm sure they felt no choice at all. >> reporter: no choice at all. and you have to imagine they trained specially for that unit. so you have to imagine it really is tough for them. >> it hurts. all right, hopefully the city is safer. christin ayers, thank you. >>> any minute now, bay area survivors of the capsized fishing boat are expected to start arriving back home. search crews are still scouring the sea for those still missing. here are six of them. brian wong is the 7th. his three brothers made it out alive and they are the only survivors still in mexico tonight. joe vazquez on the brotherly bond keeping them behind. >> reporter: we are expecting the homecoming o

we are joined from new york by the media editor for the "financial times." thank you for joining us. news corp. shares are down. is the scandal in danger of in danger in the entire empire? >> i think you have to separate the two things. is there any allegation that similar behavior was taking place in any of the u.s. operations? there are no allegations. this is a fast-moving investigation. we don't know what it will throw up next. clearly, there has been contamination to the way that investors in the u.s. and around the world, they see the risks attached to part of the business they never paid much attention to, the u.k. newspapers. they are slow-growing and shrinking assets that were not a big part of the investor focus until last week. >> one group has accused rupert murdoch of treating the company like a family candy jar. do you think there could be growing unease among investors? >> for context, these are relatively small institutional investors. they have added this to their libby of complaints. we are picking up concern about corporate governance. --

with more on the global significance of today's deal, the international economy editor at "the financial times." the first bailout of greece did not work. why is this going to? >> it is not certain it will. there were two reasons the first one did not work. greece found it quite difficult to stick to a lot of the tough measures, the austerity measures. the others were simply that the eurozone itself has been in chaos and confusion for a year, trying to work out how they are going to bail out countries and what they are going to ask of the private sector. today, they say they have started it out. but it remains to be seen whether there will be a big enough reduction in great that for that to happen, and whether they have managed to build a fire wall around greece. >> do you think this deal is just another sticking plaster? >> i think it will be difficult for this deal completely to save greece. it is not clear, because we are not seeing all the details. the reduction in debt that private debt holders are expected to take is not that big. it is a reduction of 20% in the net present value. unless

time to tighten the fine. markets why not. 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 in to kaiser report on are. the movers. time for the other headlines hair out. even lead is a picture in brussels on how to fund continuing bailed out says the debts epidemic now gripping italy and spain further strains and you're on its last legs. and international media mogul and top politician come under huge public scrutiny raising doubts they'll be able to survive the fallout of the phone hacking scandal under store public trust. last remaining un indicted war crimes suspect on hundreds is awaiting extradition to the hague after being captured in serbia belgrade hopes the move will bring the country closer to you membership. or next max keiser explains the consequences of u.s. debt deadlock as he takes for scandal behind the latest financial headlines because the report is up next. bio max kaiser stacy herbert this is the kaiser report you know i did are the currency of any revolution they say however max ideas are in our headlines today the first one could this ci

>>reporter: one effect of the straightened financial times is that counties are now looking to spendless on salaries, particularly for overseas players. at yorkshire... 10 of the 11 players in this match were homegrown... >>the yorkshire public like to see homegrown players playing in the first eleven, but at the same time we also want to win. so we've got to try and balance development with winning. >>develop in one year two years. it's just a conveyor belt. yorkshire will not have to go out and buy anybody. >>i wouldn't want to win a championship with say 5 south africans. >>although it's perhaps an easier policy to follow for the country's most successful county... one with a strong homegrown tradition, 700 cricket clubs and numerous players desperate to don the white rose... >>there's a lot of history that comes with the club... a lot of prestige... and it's a great honour to be part of it. >>it's a great honour and the history of this club. it's a massive achievement to play for yorkshireso yeah it's fantastic. >>reporter: a few years ago 2020 cricket was seen as a financial saviour

it is a cost-cutting move in cal fire in these very hot trying financial times. dc-10s cost about $7 million a year to operate. the good news is that they will still be on standby. all right. lawrence karnow on standby now with our weather forecast today. it's looking all right. >> yeah. i think feeling a bit better. it's still hot in spots. we still have some 90s in some of the interior valleys. but at the coast, you have that cool fog moving in. and that's keeping those temperatures down. check it out over the city of san francisco. you have some partly cloudy skies but the fog is going to hang in for the better part of the day especially out toward the beaches. that will keep those temperatures down. where air not seeing the fog interior valleys. it's going to be hot again although not as hot as it's been. temperatures already soaring into the 90s in some of the valleys now. in fact, 90 in livermore, 84 in fairfield, 78 in concord. what an extreme difference at the coast. temperatures 50s and 60s as you approach the coast. all right. this afternoon, sunny and

on greece what's happening well it says it finances become the new mode of warfare there the financial times reported earlier an. agreement to surrender to europe it was done to the smell of tear gas in the sinusitis and other. wall street journal had a very interesting article saying well now it's time for them to us sell off the parthenon sell off the greek islands this is what in the past you need an army to achieve what today is being done now financial aid so finance and bankers are the new army and instead of an army coming into seize the land which involves people dying you simply have the i.m.f. representatives and you buy out of the socialist party and tell them look just surrender give us your land give us your property this is phase two of the financial ization progress program and i can't believe that this is going to actually succeed if a country is going to impose itself on poverty reduce its wages by thirty percent and forfeit the entire public sector to foreign creditors people should have a quote otherwise it's not legal there is no referendum. greece over whether people are

that's already dogless for three years ok we'll leave it there for now david dodwell the former financial times correspondent thank you for your thoughts here today r.t. . as the u.s. struggles to preserve the euro the u.s. as we've heard is struggling with the economic battle the government is deadlocked negotiations over raising its debt limits something that's the value of precious metals to new records and more on this in the kaiser report coming away at seven thirty g.m.t. here's a preview. well the world at five hundred dollars over me it would mean that the peasants in america and around the world were being disenfranchised and haven't seen wage growth in decades and are being treated like by obama would suddenly a lot of money in which to restart the country see regime change and start a new republic you know the. public america they need to get on to their second republic any to rewrite the constitution iron out some of the flaws and loopholes return to some of the ideas that were there originally go back to goal the soldier as it says in the constitution. the london based team investi

the front page of the "financial times," investor fear rises over u.s. gridlock. >>> other news overseas, anders behring breivik, the man who confessed to friday's deadly terror attacks in norway now claims he collaborated with two other ex-a treemist cells. breivik pled not guilty in court yesterday, he's charged with acts of terrorism and attempts to spread serious fear throughout the population. the judge ordering breivik held for eight weeks. the first four in solitary confinement. saying in a statement that the 32-year-old quote believes that he needed to carry out these attacks to save norway from cultural marxism and muslim domination. >>> police drastically lowering the death toll of friday's massacre from 93 to 76, saying 68 people were killed at an island youth camp rather than 86. police say eight people died in the bombing attack at an oslo government building. they initially had that number at seven. police searching for seven missing justice employees who were at the scene of the blast. >>> still ahead on "way too early," good news, fellows

but i mean i don't think papers for example like the financial times will suffer. hopefully not ok now let's switch to to to to to world peace in the middle east leaders role is changing in house change a start of that within the stablish your non fly zone over libya and now to go into more offensive operations in the region but the war in libya in its current form is not and was not sanctioned by the united nations does it mean that what the nato is doing in libya is. no i mean i would say that apart from the french dropping weapons. by and large needs who is fighting with its hands tied behind its back it's it's almost crippled in its execution of hostilities there or just underneath hostilities in accordance with the u.s. congress and in order to fight within that remit i believe that it's not fighting as effectively as it can do so i do think that it's fighting within the u.n. security council along those lines apart from funding weapons. luzhin one t. seventy three of the united nations security council. allowed nato to secure this no fly zone to stop presiden

the huge issues that the two thousand and eight financial crash presented will go into a formal financial times correspondent david dodd well i think the story is that the euro as a phenomenon is in quite serious danger at the moment however. worrying more than anything else about both europe and the us slipping deeper and deeper back towards a recession there is a lot at stake in the us effectively managing. their own really rather catastrophic challenge beggars belief that the leaders in the us so preoccupied with their own local politics that properly recognize the dangers that they're creating for the global economy is all the prospects of recovering in any short term from the recession that's already doctors for three years. well coming up in just a few minutes afghanistan start spending for itself no to begin david process making sense we responsibility of kabul in a transition that will continue until twenty forty. eight your frenzy grips the central russian region are the discovery of priceless extraterrestrial materials. the longdon based team investigating a phone hacking by journalis

for more financial times correspondent david dodwell says it's not only the euro that's going down. i don't believe those either the european economies or the united states have yet. really begun to get to grips with the very grave collapse that occurred after two thousand and eight. lot of pain therefore. is facing us going forward. from an all steel point of view the sooner we start to get to grips with that and take some of your steer measures necessary the better we will all have to recognize in the process that we are a lot poorer than we thought we were in two thousand and seven the story is that the euro as a phenomenon is in quite serious danger with the crisis that raging across the atlantic as well check out the latest edition of the kinds report to see if people in the u.s. are going to rise up against the big banks coming in twenty five minutes time but here's a quick taste. they're encouraging at least twenty thousand people to show up on wall street occupy wall street and don't leave just like that the people in tahrir square didn't leave until their demand that would

in the form of financial times correspondents they don't well i think the story is that the euro as a phenomenon is in quite serious danger by the moment however where we're worrying more than a thing else about both europe and the us slipping deeper and deeper back towards a recession there is a lot at stake in the us effectively managing. their own really rather catastrophic challenge beggars belief that the leaders in the us so preoccupied with their own local politics that properly recognize the dangers that they're creating for the global economy is all in the prospects of recovering in any short term from the recession that's already dogged this for three years. well coming up in a few minutes a meteor frenzy grips the central russian after the discovery of priceless extraterrestrial material. the london based team investigating phone hacking by journalists at news international has been expanded from forty five to sixty police officers and staff as a scandal intensifies comes after m.p.'s want or at any delay in computing investigation would put back the start of the plan barri