changing its mind about teaming up with gazprom what's that about that's absolutely right b.p. has basically given up the idea of joining gas problem in extending nord stream russia's gas pipeline link to europe basically extending it to great britain last week we got reports that gazprom said that the british companies interested in joining this project but the russian shareholders of b.p. insisted that the move should be done through the russian joint venture fruit and that's something that b.p. does not want to do now to discuss this i'm joined by constantine seaman off the head of the national energy security fund constantin very good to see you so if north stream is an overseas project then basically b.p. can go ahead if i understand correctly and join gazprom but why has it decided not to do that. you know it's not an easy question because this call into this agreement between b.p. and they are going to close on is not bubbling is not transparent that is why we see a lot of discussions between two companies for example. that it's impossible to sell fifty percent and then.

gazprom in extending nord stream the russian gas pipeline to europe to great britain basically last week gazprom said that the british company was interested in joining this project but the russian shareholders in k b p and says that the move should be done through its russian investment vehicle now that's obviously something that b.p. does not want to do and consented siminoff the head of the national energy security fund explains the complexity of the situation. music remained between b. b. and they are going to close on these not bubbly is not transparent that is why we see a lot of discussions between two companies what example. that it's impossible to sell fifty percent then got to be other possible partner b.p. is thinking that it is possible to sell fifty percent to other company but not. the same story it is a vile disagreement. take a look at what's going on global markets and in the us we're seeing an initial decline on the dow jones about a third of a percent you can see there that says the factories gauges fallen below fifty percent indicating a contraction and that's de

in the north stream project which is a pipeline connecting russia with europe and last week gazprom said the british company is interested in extending the north stream pipeline to britain but russian shareholders of ten k b p called. they insisted the move should be done through the russian joint venture yet again and that's something b.p. does not want to do well because i did see one of the head of the national energy security plan said the situation is indeed legally complex. this agreement between b.p. and it hearkens also means not bob is not transparent that is why we see a lot of discussions between two companies for example. i sink and that is impossible to sell thanks to the sound then got the feel of the possible bottom up b.p. is thinking that it is possible to sail through to the sound of the company but not . the same story it is a vile disagreement. as i said in the united states we've had a batch of negative macro economic data and that's on manufacturing that has contracted in the month of june something we have not seen since mid two thousand and nine and therefore

is doing quite well and actually forbes named gazprom the second a largest oil producer worldwide and in the almost bank is actually shedding value some reports say it's emerged. talks with three tier bank if a deal between the two actually happens it would create the country's second largest private land trust now moving on to the currency markets what we're seeing there is that euro at the moment is gaining against the greenback and the russian ruble is trading stronger to both the euro and the dollar now onto crude that it was a pretty choppy day for crude but at the moment it's managing to stay above the line it's rebounding brant is topping one hundred four dollars a barrel if it keeps this positive momentum toward the end of the trading session it could mark a session of gains and more crude banks and reserves but have manipulated oil prices in the same way they interest rates that's according to a g. twenty report the u.k. officials want the cabinet to expand their inquiry into the war fixing scandal to see if oil prices have also been pushed up meanwhile all price agencies inc

is not going to team up with gazprom ofter all right that's why they've abandoned the idea of joining the north stream project which was a gas pipeline linking russia with europe last week we heard gazprom saying that the british company is interested in building a new extending the existing lines of north stream to great britain but the shareholders in the russian shareholders insist that this should be done through its russian joint venture and that's something that b.p. doesn't want to do well a concern since even of the head of the national energy security fund says that the situation is indeed complicated. music remain between b. b. and they are going for some is not bob is not transparent that is why we see a lot of discussions between two companies what example. i think in that it's impossible to sell fifty percent do you think i'd be two other possible partner to be is thinking that it is possible to sell fifty percent of the company but not. the same story it is about this agreement. or let's move over to the markets and manufacturing has moved back into contraction territory

also was up in line with the market after a reported a net profit last year more than double and gazprom as the book has been a bit weaker than the markets and that's as b.p. has given up basically its idea to tie up with the russian gas giants in the north stream project last week gazprom said the british company is interested in extending the pipeline to britain and russian shareholders of basically insisted this move should be done through the russian joint venture and that's something b.p. does not want to do now because that didn't seem enough for the head of the national energy security fund says the situation is indeed legally complicated. music remain between b. b. and they are going for some is not public is not transparent that is why we see a lot of discussions between two companies for example. i think in that it's impossible to sell fifty percent in ten can't be other possible partner b.p. is thinking that it is possible to sell fifty percent to other companies but not. the same story it is about this agreement. now on the u.s. markets we're seeing a decline on the dow jones

the my six they include the financials namely spare back to gaming this hour in the energy sector gazprom is also putting on more than one percent and no morals at the bank has slipped in through red over the past hour and some reports say so the merger talks with a greek c. and bank the deal between the two would create the country's second largest private lender are now moving on to the currency markets let's see those and as you can see the euro is gaining ever so slightly against the u.s. dollar and the russian bull is trading higher to go the euro and the dollar and last but not least crude it's been pretty choppy for crude as well it's trading higher at this hour house recovered over the past couple of hours but have been dipping down below one hundred four dollars a barrel for brands but if it keeps the positive momentum i could mark the ratings track of gains more in crude banks and other traders could have manipulated oil prices in the same way that they rigged interest rates at g twenty report found that banks and other trade in the trade as i said have rigged the interest rates

surprise there up one and a half percent given the support from the world price it was getting and gazpromis up more than two percent as its managed to conclude all of its differences with the on its gas company all know the price of gas that it's getting actually for the fourth quarter of two thousand and ten so that's really post-fact up and on the currency market the russian ruble got a huge boost provided by that price hike and it's up more than one percent against the basket of both the euro and the dollar. in the u.s. markets we see factory orders coming in with the growth of point seven percent the month of may that's up to two months of decline so that's a good sign and therefore positive movement and in europe the continues over from last week. but also pretty much in line with the american markets half a percent there and barclays are still in the lead as it's chairman is stepping down. so that's what i have for you this hour all right thanks for that. now coming up is the final and latest edition of joining us on his interview show but first i'll bring you our top stories after

has given up on the idea of joining the nord stream russia's subsidy gas to here last week gazprom said the british companies interested in the extending than one stream pipeline to britain but commerce on daily reports the russian shareholders of t.n.t. b.p. insists the move should be done through its russian joint venture and that's something b.p. doesn't want to do last year to block the british company's deal with rosneft saying it violated it sure has. greenman to exclusively represent b.p. in russia and now that naturally brings us to crude and crude is shedding value this monday morning following a major rally on friday in fact it was the biggest daily gain for crude in about three years and at the moment as you can see that over u.t.i. is trading bull zero eighty four dollars a barrel and back to the equity markets asia and did out closing in the positive territory this monday morning mainly on optimism about the outcome of the european summit a last week the e.u. leaders agreed to directly inject cash into troubled banks and also to create a single body that would monitor the e

gazprom affiliated companies which purchase about twenty percent of the do so locomotives we make the rest of our output goes to metal manufacturers coal mines and other smaller industrial enterprises. because the help of grants from russia's high tech promoting spoke of the fund sonora has built a brand new center of innovative development here in. this interest engineers have been able to work out the mechanical or technical issues of the latest trains before they go into production so the hybrid isn't ready for full. scale a symbol of just yet but engineers have got the first one up and running. they're carrying out the number of tests trying to get the complex algorithms just right to maximize the official see and this lead green machine. for the hybrid scenario engineers took the basic design of their teeth and nine train thank you but a little extra juice because all the usual suspects a twelve hundred horsepower diesel engine cooling system and compressor also added a few extra bits to most notably a lithium ion battery that can store and regenerate energy additionally a whole

be more for gazprom the euro bomb placement reportedly exceeded supply fifteen fold and the bank of moscow says first home profit almost tripled and the super to crash in may hasn't hurt the plane sales the new midsize passenger plane crashed on a promotional tour in indonesia but at the former international air show near london the makers have told r.t. the real reasons for the accident and says sales are strong. in the preliminary crash investigation says there was no technical failure so i don't think the case will hurt the plane's reputation moreover all our customers confirm their commitment to the superjumbo program we have orders from major russian air carriers from companies in asia and latin america this year will start deliveries to in the new and laos and plan to start supplies to mexico in twenty thirty years so i think by the year end the order book for the sukhoi superjet will stop two hundred planes. so the ruble is extending yesterday's games to the major currencies you're of to get into the goal of this age as selling ahead of china second quarter figures to morrow which m

into europe gazprom said the british company is interested in extending than one stream pipeline to britain but congress on daily reports the russian shareholders of t n t b.p. insist the moose would be done only through its russian joint venture and that's not something that b.p. wants to do right now last year blocked the british company's deal with rosneft saying it violated a cheer holder agreement to exclusively represent b.p. here in russia. and that's the latest from the business desk my colleague. will bring you all the latest in about fifty minutes well we'll be hearing from him in a little bit late for that and will seize it. now coming up shortly now as a united states continues with drone strikes the winograd how effective the weapon is i'll be back with the headlines in just a few moments. culture is that so much about the taxpayers' money mentoring is a chemise maybe even a lot of people at area view say one man known attacks has surged during the obama presidency proponents of this weapon claim to be a precise safer american. wealthy british style. is not on the tires on. the

given up the idea of joining nordstrom in a separate story subsidy gas linked to europe last week gazprom said the british company's interest in extending the north stream pipeline to britain but commissar daily reports the russian shareholders of b.p. insist the move should be done through its russian joint venture that's something b.p. does not want to do last year to block the british company's deal with rosneft saying it violated the shareholder agreement to exclusively represent russia. and what i was saying good news from europe i meant the use of of course not the. north stream are not maybe tying up as well while it's not at all good for my side i mean besides the be peeping but you know we'll catch up with you a little bit later there dimitri thanks so much. right coming up shortly as the united states continues with drone strikes we'll look at how effective all the weapon is and i'll be back with catch up of the headlines in just a few seconds stay with us. there hasn't been anything yet on t.v. . it is to get the maximum political impact. before the source material is what help

putin just said stay firm should follow the rules and if the example and dividends to shareholders gazprom shares are growing as it meets with investors in europe and the states i guess moments raising money to develop the arctic energy exploration of the region will cost hundreds of billions of dollars but the oil price is slipping today off the top producer norway called off a three week strike that brand has gone on the hundred dollars a barrel ongoing eurozone debt problems of created good buying opportunities in the e.u. we spoke to russian railways both live to me you can in. brian negotiations with representatives of greece to consider the possible role of russia that i always in the processes of privatization and greece but also interested in a position of firms in the field of the just because we need this expertise and if you are talking about the global corridos we need this expertise even more i can say that we're interested in privatization interested in developing our collaboration with the forum but always in terms of increasing the earnings of russia where we company throug

to europe last week gazprom said the british company is interested in extending the north stream pipeline to britain but conversely daily reports the russian shareholders of b.p. insist the move should be done all least through its russian joint venture and that's not something that b.p. wants to do right now last year t m k b.p. blocked the british company's deal with was left saying is violated shareholder agreement to exclusively represent b.p. in russia and that's all the latest from the business desk i'll be back in about fifteen minutes in the meantime you can always find a lost a lot more stories on our site that's r t the slosh this well thanks for that natasha quite surprised actually that b.p. has now come back and said that they don't want to go through with the north stream pipelines but you know yet again another glare in the business market i think about . nuclear energy is in focus in our interview shortly but first i'll bring you the headlines. there hasn't been anything yet on t.v. . it is to get the maximum for it it will in fact fall. before the source material is what

and fortune magazine's list of the most famous property company is now has a new job losses gazprom has topped the list with net earnings of forty four point five billion dollars apart from the gas giant the seven best in the list mostly from the oil and gas sector there an exception though is despite eleven billion dollars of net profit is losing position in the ranking. the oil prices the russian xs didn't seem fazed by the dropping prices we have the strike. rate and that western europe's biggest exports as you can see there the breadth edging towards ninety nine dollars a barrel all right out of the markets well i'll be back shortly just under two hours time i played thanks seen a bit later here in our team. building there with all the business news i'll be back shortly with a recap all the headlines stay with us this is not in moscow. me it's easy to. download the official team application to go on the phone or i pod touch from the i choose outs to. watch on t.v. live on the go. video on demand ati's minefield costs and already says feeds now in the palm of your. question on the al

to an end at the stock of arbitration court but a polish company has now filed a lawsuit against gazpromto also review long term prices this is because of course the natural gas prices have been dropping and their european countries do not want to pay as much as they're paying. within their contracts let's take a look at what's going on elsewhere and currencies the russian ruble is seeing a massive boost against the euro notably up forty two. more than one percent and also even more so one point three percent versus the dollar so that's of course because it's very much tied up with the with the crude price and the euro is very much where it was against the dollar after yesterday's close now in the united states we've seen factory orders come up point seven percent in march which is a very positive sign up to two months of contraction and the dow jones and nasdaq are actually quite easy right now with the positive a very moderate gains we're seeing that's. of course seeing manufacturing contracting in the previous month five zero which is not a good sign we haven't seen that in the past t

has given up on the idea of joining the nord stream rushes into europe last week gazprom said the british companies interested in extending the nord stream pipeline to britain but commerce on daily reports the russian shareholders of c n t b.p. insists the move should be done through its russian joint venture and that's not something that b.p. wants to do right now last year to block the british company's deal with last nafta saying it violated its shareholder agreement to exclusively represent beef tea in russia and back to the equity markets wall street will open in a few hours and it did quite well on friday in fact and then asked that posted its biggest daily percentage gain since december and overall the dow finished five point zero four percent gains in the first half of the year while the nasdaq posted a gain of almost thirteen percent which is not bad considering all the turmoil and wall all this good news coming out of europe late last week helped the equity market it's certainly not helping the european currency certainly not this monday afternoon the euro is under pressure it's

black this our parliament is meeting to sign off world trade organization membership major move this gazprom is investors as we said to raise funds for the arctic revenues at discount retailer magnets rose by a third in the first of the first quarter net energy for most a day ago plunged by ongoing eurozone debt problems have created good buying opportunities though in the e.u. we spoke to russian railways boasted to me you could. brian negotiations with their presented chips over for greece to consider the possible with all the pressure that i always in the processes of privatisation and greece but also interested in a position of some firms in the field. because we need to sort of expertise if you operate in above the global core of those we need to six parties even more i can't say that we're interested privatization interested in developing a bracelet with the forum that always in terms of increasing. russian where we company. is mergers and acquisitions times throughout the rail industry as freight operates a global trends top of the markets full almost a billion dollars is to fund posi

burbank and therefore it's up completely in line with the with the growth for three point eight percent gazproma bit weaker that two point three still very good performance that says the gas company has settled its differences with the israelis beyond. the price dispute of the fourth quarter and luke oil is up one the half percent despite despite high oil prices now let's move over to currencies in the russian ruble is again the huge value against against the basket of currencies more than one percent against both the euro and the dollar on the back of those high oil prices and the euro is once again continuing its growth versus the dollar more than one point two six. and in the u.s. markets we've seen factory orders go up in the month of may a buy point seven percent so that's up to two months of the wind so that's a very positive side and therefore a positive performance on the markets despite a minor correction from the previous day after a very significant growth and right now in europe also the hype continues with the footsie closing up point eight percent the dax one point three percent b

sector he has given up on the idea of joining the north russia's subsidy gasoline to europe last week gazprom said the british company is interested in extending the nord stream pipeline to britain but commerce and deal reports the russian shareholders of t.n. insist the move should be done through its russian joined them and that something b.p. doesn't want to do last year t. had to be people walked the british companies deal with what's next saying it violated a cheerful new agreement to exclusively represent b.p. in russia and on the wall street on friday we also saw a very good day very robust gains in fact then asked that boosted its biggest daily percentage gains since a las december of course the european news were the main driver overall the dow ended up gaining five point four percent for the first half of the year while the nasdaq posted gains of around thirteen percent that's not bad considering all the turmoil and that's not enough though to support the currency market all of the good news coming from europe at the moment the euro is shedding value against the u.s. dollar and of t

story still it's not going to team up then with gazprom after all what's the latest it's not as basically abandoned the idea of joining the nord stream pipeline project which is the gas link between russia and europe or last week what we had was gas from saying the rich company is interested in joining this project extending nords to great britain but the russian shareholders of he insisted that the move should be done through that company through the russian joint venture and that's something that b.p. doesn't want to do here's an explanation by the head of the national energy security. music remain between b. b. and it's going to flow show me is not bob is not transparent that is why we see a lot of discussions between two companies for example. i think that it's impossible to sell fifty percent then got to be other possible but not if he is thinking that it is possible to sell fifty percent to other companies but not. the same story it is about this agreement. well let's take a look at what's going on the markets and manufacturing has come in with a contraction in the united states whi

those high oil prices but there's burbank is leading the gains it's up three point eight percent gazpromis up two point three percent as it's settled the price a dispute with the germany's eon for the fourth quarter of two thousand and ten basically reducing prices because market price for gas have all that and luke oil is a bit weaker than the markets as you can see there the russian ruble our gained more than one percent against the basket of the euro and the dollar very significant gains for just one session meanwhile the euro continues its climb versus the back. and the u.s. markets the trade session is over it's a short one ahead of fourth of july independence day celebrations and the dow jones closed up point five percent nasdaq point eight percent there as factory orders before make a man with the growth of point seven percent up to two months of declines this is a very positive sign and over in europe we're also seeing a positive close with the footsie up twenty eight percent the dax more than one percent on the back also of gains in the financial sector notably barclays for a se