in frankfurt deep into negative territory. what might happen if g greek voters reject the deal? >> effacing know, it is possible greece would have to leave the monetary -- if they same y no, t is possible greece would have to leave the monetary union. these questions are hitting the capital markets. >> the bombshell from over the atlantic's and u.s. markets tumbling. the dow jones industrial average closed lower and did not recover on tuesday. >> also a rock above the damage to the frankfurt stock exchange. -- also a wrapup of the damage to the frankfurt stock exchange. >> people are still speeches and aghast at what they have been hearing from athens -- speechless and aghast at what they have been hearing from athens. people are still scratching their heads, asking what is going on in greece. a lot of people are downright angry at the prime minister. he is risking a lot, not only for his country, but also for the eurozone and the banks. financial shares were the hardest hit. all of the shares in the dax were on the losing sid

on the frankfurt floor, especially the spanish auction named a disaster. spain has to pay more than 6.9% for its 10-year bonds. these reports really shocked some traders, leading to turmoil on the bond market. this storm will also lead to falling share prices. it the dax went down 1%. there has been some good news that helped lift shares from the lowest levels today, especially job market data from the u.s. helping a lot. >> looking at the numbers come starting in frankfurt, the dax index finished thursday at 1% lower. the euro stoxx 50 also down. in new york, the dow jones industrials finished lower, 11,740. >>> but that of the united states surpassed $15 trillion, during the country's annual gdp. a bipartisan committee is open to reach agreement on deficit reduction measures prior to next wednesday's deadline. a minimum target as 1.2 trillion dollars. the parties have been squabbling over the size and types of cuts, and democrats insist on higher taxes for the wealthy. >>> in new york, thousands of demonstrators have been marking the two-month anniversar

but i know activist occupier frankfurt and tell first a big hello to russia and to occupy in moscow i paid us book to where this organization has been featured down. we want something like more democrats see more transparency and that the big banks and other big companies not abusing the power of their money and only is a mass of two people who would get this changes now you are at this rally here protesting against corporate greed which is perceived to be the cause of rising unemployment are you in fact looking for work yourself. look myself. myself i'm just a small man so i cannot change to a big bank by myself yet but i sings a protest if it gets bigger and bigger and now already to solve than four hundred cities in the world sure we will change something just by we are here. now let's let's talk about the message that you're sending today because as you as we know the eurozone certain members of the eurozone for two thousand and eleven have been having a very very difficult time what makes your message more important than national unity in the face of the euro crisis. my personal

we have this report from the frankfurt stock exchange. >> several strong earnings reports. deutsche telekom topped analysts' forecasts, mostly thanks to vigorous ct-cutting. still, investors remain cautious. this was clear this thursday, when the fertilizer producer reported that wholesale dealers are a bit reluctant with the new orders and that it could well be that earnings this year may be at a tiny little bit below the forecasts. their stock immediately slumped and lost nearly 5%. >>> staying in frankfurt, for a look at thursday's numbers, starting off with the dax. that is up by 0.6%. atthe euro stoxx 50 up. across the atlantic on wall street, the dow jones looking solid, but 0.75%. and the currency market, the row trading higher against the dollar, >>> $1.3590. amid all of the bad news and turbulence, there are some encouraging signals coming from portugal. the euro group chairman does not expect lisbon to need a second injection of bailout cash because of portugal's efforts to meet its budget goals. they began debating planned austerity measures thursday. the package

country's financial heartland of frankfurt thousands are said to join the demonstrations seeking to draw attention to rampant corporate greed and the increasing poverty of the masses the german occupy movement has also made significant steps in legitimizing itself for having earned the support of two major political factions to discuss what the protesters hope to achieve a cross live to one of them standing by in the lead. we understand you want us to just call you out so we will i thank you for coming on the program today thomas you're fifty one and you're already retired any particular reason for that some might say fifty one is an early age for retirement. yes just because of illness i have to retire from. but i know. occupy a frame for it and tell first. to russia and to occupy moscow and peter spoke to this organization have people feed it down. we want something like more democrats see more transparency and that the big banks and other big companies not have using the power of their money and only is a mass of people who would get the changes now you are at this rally here protesti

actually not while he was in frankfurt. he had mentioned this, actually, to us on the phone when we spoke on thanksgiving day. he was just grateful to be out. but, you know, initially, and i meant to say this before, he said that he was not treated very well at first. but it got better and then at the very last day that they were in the holding cell at the police station, people from american university cairo were able to bring them blankets and pillows. it was a comfy camping trip type. >> i can hear the joy in your voice that you will be reunited with your son very soon. we thank you for joining us and we hope to speak with derek when he was on the ground in dulles for that short time again, thanks for joining us. take care. a very happy thanksgiving weekend for you and your family. >> oh, yes, it is going to be perfect. thank you very much. >> you're welcome. >>> things are heating up along the gop presidential campaign trail with congresswoman michele bachmann now criticizing fellow republican newt gingrich. >> congress

. >> meanwhile, the lack of interest in the bond auction triggered a further sell-off in frankfurt. we have the summary from the frankfurt stock exchange. >> traders here at the german stock market are getting more desperate. after all this government changes in the and rescue packages, there's not much left to do to improve the situation, putting pressure on the german dax. the eurozone central bank should start a bond buying program peer this is the opinion here. traders here that the crisis could spread. >> we can say in frankfurt for look at wednesday's numbers. the dax finished down by 1.4%. the your socks -- euro stocks 50 also finishing out -- down. on the currency market, the euro trading lower at a value of $ 1.3330. nokia has announced plans to cut 17,000 jobs within the next two years as part of a radical restructuring plans. the cuts at the finish german partnership would amount to almost 1/4 of the firm's jobs. the move is designed to cut annual costs by 1 billion euros. observers said up to 1/3 of the work force based in germany could be affected. >> thanks. the yemeni

in frankfurt, the blue-chip dax closed up almost 1%, 5799.e euro stoxx 50 closed up just over 0.5%, 2234. in europe, the dow industrials are going up, 0.5%, 11,582. and the euro is treading for $1.3326. before germany's finance minister left for brussels, he gave testimony to the country's highest court. constitution court judges are considering the legality of the special parliamentary financial commission pit of the government said it up to decide on eurozone rescue funding, but two opposition lawmakers say the commission which convenes in secret makes a mockery of parliamentary democracy. >> to what extent should german lawmakers have a say in the country's response to the euro crisis? an urgent confidential decisions be decided by nine-member parliamentary committee instead? those are questions facing the judges at the constitutional court. the opposition lawmakers who brought the case say it is a fundamental issue of democracy. >> the electorate quite rightly expects important matters to be decided by the lawmakers they have elected, a s

we will stay in frankfurt for a look at the market numbers.he blue-chip dax finished down by more than 2%. the hero stoxx 50 indian down 4.3%. in new york, the dow down by more than 3%. 11,801, not looking good. the euro trading in the value of $1.3544. a german government panel of economic advisers is now also predicting that the eurozone sovereign debt crisis will put the brakes on german growth next year. the so-called panel of wise men says the eurozone is caught in a vicious cycle and then not even europe's leading economy will be able to escape. >> a big read for the chancellor, 300 pages in which her economic advisers bisect the iraq crisis and germany's economic situation. there find it -- and dissect the year of crisis. this year, analysts expect robust economic growth of 3%. 2012 will be slower, with the economy growing at less than 1%. still, they do not expect the jobless rate to rise to the report says unemployment should stay below 3 million in 2012 it policymakers get a grip on the eurozone debt crisis. >> in an age of global ca

we wrap the day in frankfurt. >> there was a lot of involvement in greece, and it is expensive. it incurred a quarterly loss because of that, a surprisingly big one. and that is the tough luck, also, going down because people were disappointed of the outcome of the g-20 summit in cannes. the result of fearing for greece referendum, yes, no, the fate of the government up in the air at the end of this week. the only big swing this week was the central bank in europe, the >> let's get a look at the numbers in frankfurt, the blue- chip closed down. the u.s. also deep in negative territory. euro trading at $1.7771. >> of unusual experiment in simulating a mission to mars has ended in moscow. astronauts have emerged from a mock space ship after being kept theire. >> after 520 days, the six volunteers emerged from their mockup spacecraft. they were greeted like returning heroes. >> is really great. -- it is really great. we have achieved, honor, the longest space voyage ever. >> these were their homes for over a year-and-a-half, participating in experiments and closely monitored. their

then got back on a plane, flew to o'hare then frankfurt, germany, sat in the lounge, frankfurt back toare back to austin. >> reporter: mileage runs, those are called. or try a mattress run. lots of hotel chains offer points that can be converted into airline miles or free hotel nights. this can get extreme when people like win schafer here about a bonus at the hampton inn. >> i took my son to disney world. 13 days, 13 stays. >> reporter: so every -- swit switched hotels -- >> every night. >> reporter: every night. next method, the rental carbo news. typically, you get a few hundred points for a one or two-day car rental, but one when company raised the bonus to 10,000 for a one-day rental, george smart went to his local airport and rented almost every car off the lot. how many cars did you rent? >> about 12 or 15 in the morning. and i would get maybe 60,000 to 100,000 miles for a very inexpensive cost. >> reporter: back to rick and our journey through the airport. by now, we were sitting first class on a parked jet that united airlines let us visit. because the point is even first clas

service between this and frankfurt germany will start in january. >>> toyota motor unveiled experimental robots to provide nursing and health care that were design with automobile technology. they presented the robots to reporters on tuesday. toyota and fujita the health university in aichi prefecture jointly developed the project over a four-year period. one robot is designed to lift disabled patients from their beds and others are helping people to walk or relearn to balance. >> translator: we believe the robots can be put to practical use once they have been proven safe. >> toyota said the goal is to commercialize them in two years' time. >>> new car sales in japan rose for the second straight month in october. all automakers increased production that was disrupted by the march disaster. the japan automobile dealers association says domestic sales of new cars, excluding many vehicles, climbed 28% to nearly 250,000 units. they posted a gain of close to 90%, nissan, 32%. toyota up 22%, and honda sales almost 20%. but the association says the outlook remains uncertain due in part to prod

this reflects the slow down in stock prices in frankfurt and paris. the yields of spain's government bonds are surging and stirring up a sense of impending crisis. attention is now focused on whether the new government can quickly implement austerity measures. >>> a chinese railway expert says a fatal high-speed train crash in the country last july was caused not by a faulty signal system but by poor management. the deputy leader of a government expert panel told the "beijing times" newspaper that railway workers operated the system improperly causing a moving high speed train to ram into a stopped one. the collision near the city in zhejiang province killed 40 people. the expert denied the system was defective saying the same equipment is installed on other lines and has caused no problems. the expert added that the panel submitted a report on its investigation into the accident to the government in late september. the government has yet to announce the results of the probe. >>> in south korea, people will get a glimpse into the life of the country's

came in, for example, from a steel maker and from the hamburg port operator. >> we will stay in frankfurt a look at friday's numbers. the blue-chip dax went into the weekend up by 3.2%. the euro stoxx 50 also looking solid. across the atlantic in new york, the dow having a very strong session, up by more than 2%. and currency markets, the euro trading at $1.3738. europe's largest insurer is a feeling the effects of the debt crisis. allianz's profit fell much more than forecast, dropping 258 million euros, compared to nearly 1.3 billion a year ago during the same type of the company blames the fall on investment losses and agreed bond writedowns. the company still expects to meet its operating earnings estimates for the full year. and the french finance minister is demanding some clear answers from standard and poor's. s&p accidentally sent out a message friday to clients announcing a downgrade of the credit rating of france. it took a number of hours to abolish the error, which spanned the is living on a technical which -- coolidge. it is said that the incident is grave. >> it was a nasty

in frankfurt, the key index dropped 5% even while the london market saw a decline of 2%. >>> now let's get a check on tokyo markets. to see how things are kicking off here we go to ramin mellegard at the tokyo stock exchange. markets were upbeat last week on the good news and now the same concerns are back again. how are stocks here reacting in tokyo? >> exactly, ai. very good morning to you. and this latest twist by the greek prime minister to put the latest bailout for greece to a referendum speaks volumes in the markets about greece's plans and efforts to really come through after that agreement was made in europe just last week. let's have a look now at the reaction for the nikkei and the topix. you can see there, pretty negative. it's down almost 130 points there. the nikkei, 8,708, and the topix down 11 points or 743. now the big question really is today how all of this is going to play through the markets. especially with the concern for weaker eurozone economies such as italy and spain. and also the major banks in the region which have already been asked to take a 50% cut in th

luke gates left cairo for frankfurt, germany. gregory porter and georgetown student sweeney will fly out next time in the next few hours. sweeney's mother says derek will fly to frankfurt then here to d.c. and on to st. louis. he is expected to arrive there late saturday night. >>> all of these prayers are coming our way have been answered. have truly been answered. we couldn't feel more blessed. >> joy sweeney plans to make her son a belated thanksgiving dinner. the students were arrested on sunday for allegedly throwing firebombs at security forces fighting with demonstrators. >>> aruban prosecutors have appealed a judge's decision to release the gaithers man suspected in the disappearance of robyn gardner. if that appeal is denied, gary giordano will be released from jail next week and free to leave aruba. he has been detained by police since the frederick woman went missing in august. earlier today, a judge denied prosecutors' request to hold giordano for another 30 days while they investigate her presumed death. the judge sa

we have today here in frankfurt. the government and. make clear. that democratic societies can no longer tolerate. no movement though really representing the popular voice germany is one of the few countries that's done ok for itself even through the two thousand and eight crisis and the latest euro crisis. even though the german economy is. the main problem. who can suppress our societies. that may be necessary and which increase our state. and make democratic institutions no longer. and we've certainly seen the occupy movements in wall street or in new york with many there calling for basically a structuring of wall street but is it possible though is it just possible that you could be exaggerating the corporate greed in germany just this august a german group of millionaires and billionaires of the wealthy for a capital levy group they volunteered to pay additional taxes to deal with the euro crisis i mean anywhere else that would be unheard of. the thing is i don't think corporate greed we have a. problem in the financial sector we're just abso

financial hole learned of frankfurt more than ten thousand people have joined the demonstrations recently seeking to draw attention to rampant corporate greed and the increasing poverty of the masses german occupy movement has also made significant steps in legitimizing itself having the support of two major political factions what we can all talk to one of the organizers of the event. of the pro quality attack germany group joining me live from berlin thanks very much indeed there you are in the heart of the protest there in but there are scenes of the occupy movement is known as an organization with a mixed message something that's been highlighted by the media and indeed in fact saying that the movement lacks unity and cohesion so what exactly are you protesting against today. yesterday it was quite a broad mixture of a broad group mixture of groups are going i think this demonstrations we said we want to design banks we want to redistribute wealth and we really have to fight for democracy because during the last two weeks we land a lot that democracy is no longer at stage if the finan

ok we shall see lippman assistant professor of the international political economy at frankfurt school of finance management thank you for joining us today thank you very much. well russia but a recent kazakstan were once united as part of the world's biggest state u.s.s.r. but that unity ended two decades agree with the collapse of the soviet union in around fifteen minutes time we continue our series of special reports about how former member states of fed this time the focus is. twenty years ago the largest country in the disintegration of. what had been. true geology. where did it take the. russia has once again the war on foreign powers against intervening in syria's internal unrest it comes after jordan reportedly osteen k. can take the lead in a war of words against president assad an effort to oust him from power prosecutors expressed concern that the situation is falling too much in line with the libyan scenario are things over and it is more. after its pivotal role in the overthrow of moammar gadhafi britain's become the new go to guy when there's trouble in the middle east p

the london fell and paris frankfurt taking abonds,on italian and spanish sovereign debthigh. government bond6.6%und 6.5%. he japaneseks. to see how iat the stock ngs lookingday morning? as youmention, thef to come u a deficit look at the topix. pped by the tudingbt issuesike france but as european u.s.ets lower, expected towell. stocks nikk 7. japanese automakit of a with production coming most major honda. flooding recently in some of and partme troubles ere. that mayction for ook at currency le yen does safer aor manyg strong against the euro and the 103.76-83 euro. going to be a soday and friday. keep track steel makers yen, whereel production is in ma very much tougherel makersouth chinese here in closed data u.s. on tu so treaction we'll in japan on se reading gdp u.s. nikkei andtopix lower thanks for the t let's look at other market l business. >> prosecutors are launch an armanrrowing tens of million. adding up to over $110 m a of damages after borrowing idiaries from last year to ucted senior officials o money to a special bank ac he's believed to hav at casinos abroa

he called us from frankfurt airport, letting us know that he was out of handcuff and no police. the other time, i could recognize his voice but this time sounded like my son. it was wonderful. >> reporter: derek and his family were not able to communicate with each other often. >> we spoke for 90 second the first time and a minute after he landed in cairo, he was on the pay phone and then we spoke for a few minutes on thanksgiving day. that their was a discussion and and a half. and then we spoke right after we found out that all the release paperworks had come through and they were going to be taken to the airport, for about another 30, 40 secs. so we really have had three very brief, four very brief conversations. >> now, the 19-year-old is grateful to be out of. >> initially-- and i mentioned this before ♪ he was not treated very well at first, but it got better and then the very last day that they were in a holding cell at the police station, people from american university cairo were able to bring them blankets and clothes. later, they were on the way home. >> the flight to

excess fallen over for prince percent in frankfurt financials are seeing the worst decline with creditagricole down eleven and a half percent in societe generale falling over fourteen percent barclays lost nine point three percent and a sea of red across russia the r.t.s. is losing over five percent this album isaacs is down nearly three percent earlier trading has been suspended on the wires it's due to technical reasons now let's have a look at some individual channels on my six most energy majors a down on cheap oil crude with gazprom losing more than two percent banking stocks are no exception would be should be under four percent in the red and russia's telecommunication major ross telecom is bucking the trend company approved a buyback program worth half a billion dollars. capital flight from russia is expected to double by the end of the year to seventy billion dollars the central bank says investors are leaving emerging nations amid global economic uncertainty the performance is still expected to be better than in two thousand and eight when one hundred thirty billion dollars l

. >> frankfurt, l'ta aoo at the numbers now. germany's blue-chip dax closed the session down by 3.23%. the euro zone 50 folollowi suit. across the atlantic's, the dow jones industrials in negative territory by more than 2%. >> 7 billion and unng the world has reached a milestone. one of the babies fromhe philippines has been chosen to recognize the number. the 8 billion markets closer than you might think. >>she was born shortly -- shortly before midnight in the philippine capital of manila. ahffiarent a cake to the proud officials. she represents a global population milestone, and unlike many ohe prsn the philippines, she is already off to a privileged start. her unreal title as e veh billionth baby comes with a college scholarship. but the world is concerned the world population is growing too quickl china is still the most populous country with 1.3 billion people, but china is expected to spa china in just one decade. they warn of the challenges of a growing population. >> we wanted to decrease population growth through educa

it pains him that the papers call the greek government frankfurt's shadow cabinet. >> there's no other solution for us. we're at the end of our rope. if we don't do what the europeans and the european central bank demand, they could throw us out of the euro zone. >> but under the big tree, it's hard to see signs of economic crisis. attorneys, businessmen and doctors park their expensive cars here. >> they used to have even bigger cars but without power steering. it wasn't so easy to park. today they prefer smaller cars that are more maneuverble but also more expensive so you have to watch out. >> even small entrepreneurs have to watch out now for tax investigators, checking to make sure they're paying their share. this man expects the new interim government will raise taxes and he wonders whether it can lead greece out of the crisis. >> i'm worried and not just about my own business. after all, the socialists and the conservatives who now want to govern a coalition are the same parties that ran us into the ground over the last few decades. >> a television studio in athens hosted a deba

we have this from the frankfurt stock exchange. >> the german market, we have seen almost 10 days of losses. it was applauded when the german dax reached positive territory. the mood remains highly nervous. the record yield italy has to pay for fresh money demonstrates the ongoing mistrust. traders back this week with a very bad feeling. >> we can stay for a clot -- a closer look at friday's numbers, and then a look at the blue chip. the euros stocks 50, also finishing -- eurostoxx 50. across the atlantic, the doubt finished a shortened -- the dow finished a shortened session. the russian prime minister vladimir couldn't announced a $14 billion -- vladimir putin announced a $14 billion rescue plan for belarus. russia wins complete control over the belarus's gas pipeline network. >> the bill russian president alexander wishing go -- desperately needs russian assistance. prime minister putin pledged support. >> on average, european customers will have to pay for in dollars per cubic meter of natural gas next year. the price for belarus will be $164. >> in exchange for the discount, the

. >> for a roundup of the market's action, let's go to frankfurt. >> changes in greece and italy will help to set the country's back on track. the worries are remaining. italy has to pay record height yields. refinancing will be a rather expensive. the financial sector is still suffering from the debt crisis. italy's biggest bank suffers from heavy write-downs coming from eastern europe and also from a break bonds and we did great -- greek bonds. >> at the closing market numbers. the dax, 1.2% lower. across the headland, the dow jones at 12,056. deutsche bank says the ceo will not seek to become chairman of the advisory board next year. the company said the supervisory board recommended instead. he has led the bank since 2002 and plans to step down in may after the company's annual shareholder meeting. the cadet -- prosecutors searched the bank's offices in connection with this testimony in a long-running court case brought against the bank. his company went bankrupt in 2002. portugal's economy continues to cause concern. gross domestic product shrank by almost half of% -- half of a p

the bond markets have soured the mood on the frankfurt floor. investors fear that the turmoil will continue and a focus on spain because the yields go up above 7%. this would mean that there is a possibility that spain may need the help of the rescue fund. >> let's have a look at the market to figures. in your, the dow jones industrial making slight gains. a new greek government has unveiled its budget for the coming year. athens helps to reduce its deficit to 5.4%. private creditors will have to agree to a 50% write-down. the country is in the midst of a recession and gdp is expected to contract by 5.5%. it will take some time before the economy rebounds. russia signed a major trade pact with its former soviet neighbors on friday. the new block will coordinate trade and economic development between the three and as part of a plan to create a larger eurasian economic area. the russian president invited other countries to join the union. >> the president of russia and cause extent met in moscow to sign an agreement. if everything goes according t

. >> solid german growth figures are not enough to start a rally here on the frankfurt floor. investors focused again on the debt crisis and especially on the bond markets were turmoil started off. there are record high yields for austrian, a belgian, french and italian bonds. this shows that investors really feel that the debt crisis may widen. the markets have been dragged down sharply by that. new data coming from the u.s. was able to lead to a kind of happy and, although some losses remain. u.s. economic data show the growth in the u.s. may be possible pretty soon. >> the german bank index finished the day lower at not quite 8% lower. in new york, the dow jones industrials had gains. the hero is at $1.35. -- euro is at $1.35. the parliament has voted to ban naked credit defaults swaps. bailout speculator is to bet on the risk of a company -- they allowed speculators to bet on the risk of a company going bankrupt. a credit defaults what is actually a kind of insurance against default. and naked default is one in which speculators do not own the debt but bet on buying it at

let's take a quick look at some markets numbers, beginning in frankfurt. the dax finished the day up 2%. across the atlantic, trading has ended as well. the dow jones industrial closed up by 1.5%. german retail giant is in talks with several potential buyers of its department store chain. they have been trying to offloaded, which owns 140 stores. the bidders include a real estate group and a german investor. experts believe a merger could be in the offing. it is a renewable projects designed to harness the power of solar energy over northern africa. the project's delegates have been discussing the challenges that lie ahead. >> the dream is to harness solar and wind energy in africa's deserts' to help feed europe and africa is going energy demands. the first solar power plant goes up in morocco next year and produces as much energy as a small nuclear plant. the consortium includes german companies. they want to stick to their timetable, despite the political unrest in the arab world. >> it will be very important that the people see the prospectus. they see

for more on monday's market plunge, our correspondent sent us this summary from the frankfurt stock exchange. >> of the new trading week started with new worries. putting pressure on the german stock market. china warned of the danger of a worldwide recession. the growth forecast for next year, due to the euro zone debt crisis, and this crisis is spiraling up with moody's warning on france. more traders are calling for stronger intervention of the ecb. >> we can stay for a closer look at monday's market numbers. the dax is finishing down by 3.5% bigger stocks 50 giving up huge losses. they're finishing at 2160. across the atlantic, the dow down by more than 2%. the bureau also losing value, trading at a value of $1.34. humphrey has asked for what is possible a year -- hungary has asked for what is possible eu financial assistance. the credit rating could be downgraded further. so far, economic measures implemented by the prime minister center-right government have not produced the desired results. the economy is forecast to expand by just 0.5% in 2012. making it the biggest of the country's

we have this summary from the frankfurt stock exchange. >> traders are currently suffering as politicians have failed to reach an agreement in that dispute. an attempt to solve the crisis has led to great nervousness and a roller coaster ride, clothes and deeper. cook -- closing deeper. shocking news about higher capital needs, a german travel company is running out of money in the insecurity of the sector. >> we can stay for a closer look at germany's numbers, closing down at 5537. across the atlantic, in new york, down by one-half of 1%. the euro is trading just a tad higher. brazilian authorities say that they plan to impose initial fines of $56 million on chevron for an oil spill off of the coast of rio de janeiro. the country's environmental secretary says that this is only the first in a number of expected fines and that chevron could be prohibited from exploring for more oil for five years. chevron says that oil started leaking in november and that they are on a migratory route for dolphins. chevron had figured only half of the amount. >> thank you very much, steve. astronauts from

they're mostly young people in financial centers outside of the european central bank in frankfurt or on the edges of the e.u. summit in brussels. it is basically a leaderless movement, but the people know what they want, fair distribution of wealth and an end of what they see as the greed of the big banks. >> an entry demonstrator chance the words to vote in all chilean song about liberty. they have traveled to brussels from the south of france along with other protesters. a found a place to set up camp on the outskirts of the city. >> we walked between the 30-35 kilometers every day, through every village to meet as many people as possible. we have practically crossed france and three groups. >> he is one of many well- educated young people who have not managed to secure themselves a steady place on the career ladder. >> it is important to have a right to an apartment and to work, to have enough to eat and be able to live, not always just survive. b>> here in the camp, they live from donations from sympathizers who like them have had enough of financial market capitalism and the spe

frankfurt, the dax closed up, almost 5% up, over 5% at 22.21. new york, the dow industrials are currently going over to% -- going up over 2%. despite the good newt -- good mood on the markets, the belgium and italy rates shot up at the bond auctions. belgium managed to raise 2 billion euros, but had to agree to a 5% return rate on 10 year bonds. compared to 3% one month ago. italy faced similar woes. they had to pay 7.2% for 12 year bonds. two percentage points higher than the last time. seen as critical in the long term for italy. in the latest world economic outlook for development, they say that growth in the euro zone will slow to 2% in 2012 and that central banks should cut interest rates and stepped-up purchases of government bonds to counter the slump. they say that instability is the main risk to the global economy. >> department stores in paris are crowded with christmas shoppers. to some, it might indicate that the german economy is doing well right now. this is not the case. the oecd says that the crisis now poses the greatest threat