g. trade and then a g. production they will also follow very closely what happens to shale gas but it is definitely not seen as something that they will large scale jump on in the immediate future because you have so much conventional gas that can be competitively produced a market still available. mr krammer you have claimed many times that the south stream is a project of european interest that what you say but this argument against sits in the european union who's interested in doing this project. is against except ukraine force. well i will say that you know it it is obviously a project in european interest europe needs to import more gas europe wants to do that in a secure and stable manner and so safe and secure a new transit routes are obviously one way to do that on top of that you have many european companies and countries such as the southeast the east european countries directly involved and wanting to see the project realized so i don't really doubt that this is a project of major european inter

northern capital among the main topics of discussion in st petersburg russia as a session to the w g o the world tradeorganization and also the creation of a state backed ten billion dollars private equity fund aimed to agree more business and investment to russia not only is russia looking west. to. bring up business for the conference looking to western firms and companies but also looking east china a big player and a big participant in this year's conference president hu jintao of china into russia right now working on the last minute details of a gas deal between russia and china something that's definitely going to be on the table here in st petersburg we're expecting to hear from president medvedev and president hu jintao things that are going to be brought she will live here on our team as we get them. lots going on here a lot to talk about i've got many important exciting guests and among them right here with me now catherine tivo she's the managing director of troika dialog thank you very much for joining us here on r.g.p. for a time they came up with the first question that we have what are

and the chinese day joe is also giving a lift to the world with branch trading and one hundred nineteen dollars a barrel and w g i n ninety seven dollars market is also factoring in expectations that saudi arabia will pump more crude after failing to play inch an hour boost by opec. european markets are up and it trades with banks and miners leading canes and that's just appear to be shaking off downgrades that downgrade of crude scrape grazing the debt is more than one of a half percent higher we see is a bit behind on to half a percent. and here in russia there are chairs in the minus six have slipped into red this hour let's have a look at some of the individual show moves their bond is high and also in profits more than doubled in the first five months of this year and if you may just a mixed coking coal producer spots guy is down on the news of a production hold at one of its mines. fresh that the markets are in for a subdued couple of weeks but some shushing corporate world capital believes fertilizer stocks can see some interest. so for the. six miles prospective. fertilizer sort. of thing the reason of

is the only member of the g eight the g twenty that's not in the deputy you know it's the largest economy in the world is not part of the b.t.o. and. taking down trade barriers and putting russia on equal footing as it should be with the other countries in the world that are part of w t o this could be a positive thing for russia and for all the other countries that are part of the economic this global economic world now as the c.e.o. of international paper how specifically is business in russia do you think the country is well positioned to for the relative strengths and weaknesses of the country order to move forward with your particular industry you know russia like a lot of developing economies it's got a lot of infrastructure investment they need to make in order to support a growing economy and more investment so. first there's there's infrastructure less regulation you are still got a lot of regulations that slow down the productivity of capital and things take longer. those two specific things infrastructure and regulation. the two important things for us to do this for foreign direct investment it already has been pretty well i mean we we s

are the proposed regulation that is would require over-the-counter derivatives to be traded and cleared on exchanges. g-20 nations have state add goal for the end of 2012 as the implementation date of any global derivative reforms. our earlier upcoming deadline of july 16, 2011 for u.s. implementation of derivative reforms puts the u.s. financial market at a significant global disadvantage and will further disrupt our economy, economic recovery, and job growth. let's repeal these damages economic provisions and let's get america back to work again. i yield back. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from ohio -- gentlelady from ohio rise? without objection, the gentlelady is recognized for one minute. ms. fudge: thank you. i rise today because i am deeply concerned about my community's ability to address its emergency response needs. fema safer grants are designed to assist cities with maintaining first responders on the streets. but challenges that fema has a stipulation that cities cannot have employees in layoff status. the cities most in need

start of the trading week microcosms from a plea to investment banks from a slew of annual general meetings this week well we've investors busy we have right week and we're waiting for a lot of a g m's us dream comes true that towards the end and we don't expect any fireworks per se we have you know norbert to grasp or i'm just starting to see meetings and approving you know period ends and elect a new boards we've seen a few positive developments in the boards and more market friendly people have come on the boards and you saw the impact of that and it starts with us for the russians . week we're just waiting for again for the greek and then us data as well and it's been on and off in the last couple of weeks so you know any positive news coming out of the us will foster a bit big old growth in the picture in general because europe it's moving on to worse you know a bit more forgetful and how do we go forward. given investors i'm gathering in moscow to brainstorm their strategies in russia the event is being held by rene so it's capital which has been investing in russia for twenty years business not seems to me to remember thank i caught up with the company's c.e.o. stephen je

trade organization with e.u. commission. saying it's possible by the end of this year we also agree that levy a leader colonel gadhafi has lost his legitimacy and should go this comes after may's g. eight summit in france where russia agreed to step in with ceasefire mediation efforts and the north african country. but european union and international monetary fund are preparing a second rescue package for greece which according to some estimates may total as much as one hundred twenty billion euros just one year after the previous rescue package the new bailout comes with conditions calling for the greek government to implement even more cuts tens of thousands of taking to the streets of athens in protest against yet another round of the staring measures but there is also anger in germany more people are tired of the earth country paying for reckless neighbors as artie's daniel bushell now reports. the euro's dead long live germany says top lawyer marcus kerber he's suing the german government to stop it wheeling out bankrupt neighbors you cannot say so you. tell the country you have to get rid of greece is no longer worth a candidate. of the european union the nations labeled

with three pending trade agreements on the table waitin g for approval, we are wasting precious time and resources at ow disposal to open foreign markets to u.s. patriot prods. the lack of action on colombia, panama and south korea is concerning. i believe we need to move forward as quickly as possible to ratify these policies. american companies and their workers are losing market share and are being denied valuable business opportunities. that's why one of the first pieces of legislation i cosponsored as a member of the senate was senate resolution 20, legislation that urges this chamber to consider and approve the pending free trade agreements with these countries. on multiple occasions president obama expressed support for the implementation of all of these trade agreements in order to reduce our nation's deficit and create american jobs for american workers. so far there's still a failure to act on any of these agreements. americans deserve legislation that will promote job growth, but one of president obama legislative cornerstones, health care reform, actually cost jobs. we we

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futures trading corporation and provides significantly fewer resources for the agency to do the job america expects. now, why is this important? the cftc is supposed to regulate betting, b-e-t-iti ninch-g. they come to the american people and they are very powerful and create new mechanisms and they don't call it betting, but they have a term, collateralized and from that they might derive a credit default swap. in the book "all the devils are here" recounts, what we have is a wall street and chicago futures market has run awe mcwhere speculation and outright fraud led our country into the worst economic depression. make no mistake, these folks are very powerful and one of the most important trades that are involved in this sophisticated gambling is oil. this particular chart shows the profits being made by the major oil companies and compares the profits in the first quarter of last year to this year. if you look at exxon mobil, over $10 billion more profits this year than last year and the list goes on. whether it's conoco at $2 billion, bp, these folks are not hurting. president obama said back in april that part of the oil problem and the gas price problem is speculation. he's abso