traded here in hong kong today. staying in china and with energy, beijing slashed gas lone and diesel prices by more than 3%. that is about $47 a ton has brought prices down from record high levels. this is the latest bid to reign in inflation from july's three-year high of 6.5%. we get another reading on inflation in china on friday. the cpi did ease slightly in august. a lot of people watching inflation incredibly closely in china. and finally, this man here, the man who said he's about to run for the president of russia, the current prime minister, vladimir putin will arrive in china tomorrow as wranglings over a huge gas deal continue between china and russia. with ceos of state-run energies and resource companies among his entourage, they are likely to form a key part of those talks in beijing. >> now, you're watching "world business today." authorities in england rush to contain an oil leak. the weather is working against them. details, next. calorie sweetener with b vitamins, the first and only one to help su

welcome back from cnn london in hong kong.is is "world business today." >>> airlines say they eel continue to fight new legislation that will force them to pay a carbon tax on flights to and from the european union. china says this policy will cost its aviation industry $125 million a year. the policy has created a big dilemma for a business that says it is committed to fighting climate change. aviation is one of the most competitive industries in business, but in hong kong, a show of solidarity against a common enemy, a new european law that comes into force next year. >> i think the global airline industry is united against the eu ets. it's the wrong approach. >> from the beginning of next year and europe's new emissions trading scheme, any airline that lands or takes off in europe will be charged for its carbon emissions. those emissions will be calculated not just over european aerospace, but from wherever the plane starts or ends its germany. if you're starting in hong kong or london, you'll pay for you're missions all th

. >> good afternoon, from cnn hong kong, i'm andrew stevens. you are watching "world business today." the top stories this tuesday, october 11th. beijing steps in to buy chinese banking stocks. just how much trouble are the banks facing? we are joined live from the nation's capital. >>> rising floodwaters in thailand take their toll on the economy and -- ♪ >> this man has a very important job. he gives his stamp of approval to bagpipes sold around the world. >> we visit one of the world's top bagpipe exporters. let's get straight to the stock markets now. >>> here in europe they have been trading for a little over an hour. after four days of gains, this is where they stand at the moment. any positive sentiment appears to have disappeared or had the edge taken off on a bit of profit taking, it would seem. this after the -- obviously a couple of pieces of news in the middle of monday's session, eu leaders delayed a debt crisis summit, partly because of the need to sort out what's happening in the sovereign debt crisis. the main issue is the tensi

. >> and a very good afternoon from cnn hong kong, i'm andrew stevens. welcome to "world business today." >>> the top stories this thursday, october 20th, you're looking at live pictures of crowds gathering in athens, constitution square, a day after strikes shut down greece but parliament approves yet more unpopular austerity measures. >>> european lenders remain in deadlock, yet a debt crisis deadline is just hours or days away. >>> and bangkok is bracing f for -- as businesses in thailand are left to sink or swim. >>> first up, let's take a look at how the stock markets are faring and they've been trading for about an hour now. broadly speaking, red arrows across the board. it is greece and the european debt crisis that has investors worried. this was the scene in athens yesterday after a general strike degenerated into widespread violence. in the meantime, an eu finance minister decided to hold an impromptu meeting last night. that was, it appears, to no avail. you can see these two standing here, they said no differents has as of yet been solved. mo

the nikkei down about 0 .4%, hong kong markets up by another 1%. the hong kong rally continues. that's been going strongly, up by more than 12% since it hit a slow in the middle of last week. shanghai up 3.getting a big boost there. and the stocks in australia down by about 0.5%. i just want to come back to japan for a minute because one stock is sony, up 1.4% at the close. that might come as a bit of a surprise considering it's just owned up to another online security breach. sony says that hackers accessed the accounts of 90,000 users of its playstation and enter statement networks and its online entertainment services between october the 7th and october the 10th. the company says no credit card information has been jeopardized as a result of those attacks. it's locked down all the accounts that were breached, and that incident comes, of course, as another embarrassment for the electronics giant as it fights to restore its reputation which suffered a huge blow when more than 100 million user accounts were compromised in april. despite that, it's still down. it's lost about hal

he at one point went from hong kong to japan to recuperate.the one that wanted to be an artist and wanted to paint. i thought about that because it must have been hard growing up in hong kong to be far away from everything and have a dream and get sick at this point. i thought u is there a story here? that's the way it begins for writers. people think things jump out and we have it in our head. it's the opposite we have nothing in our head. we turn on the machine and praying for something to come. with women of the silk i researched for 6 amongs and read and read and read. in one book i found 2 lines about the woman silk workers and knew immediately that's hai wanted to write about. it came to me like a dream that every writer prays for that you just knew you wanted to write about this. with the second book it was difficult i sat down and didn't know what i was going to write for about 6 months. which was fearful for me because of the fact i knew i didn't have the second book. steven's story, i asked myself questions. a lot of writers do that

hong kong, another big performance up by 2%. shanghai up by 0.75%. the government in china coming out with plans to bolster small businesses in china which gives you an idea of the concern still about the state of the economy there. australia getting a lift from unemployment numbers. the actual unemployment rate in australia falling, according to the numbers out today, down to 5.2%, down 0.1%. if you look at hong kong, it's up 14%, 15% since it hit its low at the end of trading october 4th. in seven trading days or so we've seen a big bounce in a lot of these markets here, nina. >>> the imf tempering that saying that europe does pose a risk to asia as well. let's move on and talk about the united states, because the new york stock exchange made some pretty hefty gains on wednesday. financials in particular led the way. all of the major banks actually closed up in excess of 3% on the day. alcoa, company shares dropped by 3% on wednesday, after posting lower than expected quarterly earnings on wednesday. this is where the u.s. futures stand in premarke

here in hong kong certainly the news has been everb rating around the city. this is the midday edition of the newspaper. jobs is gone. that's the headline, a picture of steve jobs which was on the home page of apple today. that's how i found out, when i logged on through my apple, that's how i found out about steve jobs passing. here we are, if i can get the camera in to show you the backdrop. this a very new apple store. as you can see, it is packed. a lot of people have come down here to be in the apple store on such a momentous day. that's partly true. it's also -- the store has been like this pretty much since it opened less than two weeks ago. it is a huge business here. not just in hong kong but right across china and asia. this is the fifth store to open in china. as you see, certainly no shortage of customers. i was down there a couple hours ago, three hours ago. it was only one hour after the store had opened. i was talking to the staff and some of the customers down there asking them about what they thought about it. interestingly, i met a couple pe

steve jobs has a massive following here in hong kong. in fact, according to apple, they said that on the day of its opening, just a few weeks ago, they sold more macs here than any other store around the world. one more thing i want to show you, the apple logo usually glows white. today it's been turned off. >> carol, news of a formal hong kong vigil, it's racing through social networks. one is due to start at 7:00 p.m. tonight. there's also a global vigil, one that's called black turtleneck friday, being organized on facebook. participants are being asked to bring flowers, canaldles or an icandle. a most fitting tribute, one displayed on an iphone. >> that is a most fitting tribute. the thing that was interesting about steve jobs, i think, he had more than one great idea. usually an innovator will have one great idea, then there will be no more. steve jobs seemed to have an endless supply. >> that's right. it was endless from the very beginning, from a new personal computer to how he revolutionized music with itunes and ipods, to even h

santos. >> and i'm andrew stevens at cnn hong kong. welcome back. ywatching "world busines today." >> the european stock markets have been open for an hour and a half. not a pretty picture. yet again a sea of red arrows across the board as the sell-off continues. all comes amidst fresh concerns greece could soon run out of money before it receives the next installment on its bailout loan. >> yeah, nina, here in asia losses across the board, the composite is closed for the holiday. the debt crisis continuing as you can see weighing on the market. the hang seng done sharply and the kospi in seoul down sharply. the nikkei is a fraction above its quake level and the s&p is down 0.64%. >> matthew chance because, of course, you'll remember we were hearing the kercher family giving a press conference following the dramatic acquittal of amanda knox and raffaele sollecito. matthew, what is the atmosphere like the day after that dramatic acquittal and what did the kercher family have to say? >> reporter: the media focusing on this event and perhaps on the las

vy hong kong organization concerned with vulnerable species found 78% of hong kong people were wig to omit it at weddings while only 25% said the shark population is in decline. >> once people find what it is, where it comes from, the problems that are with it and how much devastation it causes, people can't help but be in favor of something like a ban. >> reporter: they told cbc 25 this evening the governor has not made up his mind against the legislation but will decide between now or sunday to sign or veto the bill. in oakland's chinatown, don knapp, cbc ra. >>> two people are dead and another injured after an alleged stabbing and shooting in the richmond district. police discovered a husband and wife who had been stabbed many times in their home by their allegedly, own son. while police tried to help them the suspect approached with two knives. they opened fire. the son and wife died in the hospital. >> reporter: it. >> it is clear this guy had serious intent to hurt the people in the house as well as the officers when they tried to save the victims. >> the only survivor of the at

we begin tonight with this item sent by tvb hong kong. hong kong's iconic cross-harbor swimming race has resumed after a gap of 33 years. caused by pollution that has since been cleaned up. on sunday, nearly 1,000 swimmers aged between 12 and 68 took part in the 1.8-kilometer race across victoria harbor. members of hong kong's national swimming team took the winning spot in both the men's and women's division. making it across in less than 25 minutes. >> it's so great, to be swimming here. just do see the other swimmers follow them. >> 30 years ago i think a lot of sewage pipe go to the victoria harbor directly. when i swim the smell is no good. >> the government of a southern india state of pradesh has stepped up efforts to end a 33-d residents of the northern part of the state who are demanding a separate state. on sunday,ro sepatist leaders called off their strike to stop railway servic teacrs and employees of the state transport service resumed eir duties, but various groups said they will continue protesting to pressure the central g

we begin with this item sent by tvb, hong kong. hong kong authorities have come up with a plan to solve the territory's chronic shortage of land. dig huge caverns in the mountains. a study says rock caves could be used to relocate crematoria and other spaces, freeing up land for houses. mountains account for 64% of the country's total land area. experts say the idea is safe and won't damage the environment. hong kong's drainage services department has already moved one of its storage treatment plants into a cavern. >>> the sri lankan government says gem and jewelry industry will be gem mining industry with a history of 3,000 years. it produces about 75 varieties of precious stones. including sapphires and diamonds. in 2010, sri lanka exported diamonds and jewelry worth about $400 million, accounting for about 5% of the country's gross domestic od 600,000 peor in the gem mining sector. >>> the turkish city of istanbul hosted a rock concert on sunday to rai funds for earthquake victims. 40 bands took part. the october 23rd quake in t

hong kong had the most, about $375 billion. singapore and south korea came in at around $200 billion or so. now with this in mind, especially with china in mind it might seem a bit strange to thing eurozone is going to call on china to help pump up its bailout fund. but bear in mind that the chinese government has this much money in its foreign reserves to the tune of $3.2 trillion u.s. dollars. knowing that, french president sarkozy is expected to call beijing later today. earlier cnn spoke with michael shoeman of "time" magazine in beijing about this china/japan role reversal. >> it's telling as to what's going nonthe world today that you have the leaders of europe, you know, which have traditionally been some of the most powerful people in the world running the most powerful economies in the world who are now basically coming hat in hand over here to beijing and asking the chinese to help them with their own problems. and a lot of this is really because of the politics within europe where there's such sentiment towards the e

a few years back, hong kong city's oldest banned it. and this year, the organization concerned with the vulnerable species found that residents of hong kong were willing to omit it at weddings, the world admits it is in decline. >> i grew up eating it. i didn't know what a pain it water, once people find out what it is, where it comes from and what the problems with it are and the devastating elements, people can't help but be in favor of a ban. >> reporter: the governor has not yet made up his mind about the legislation but will decide between now and sunday whether to sign or veto the bill. in oakland's china town, don knapp, cbs 5. >>> and still no clues on who killed a man from chile at an intersection of emerson. adolfo celedon had been killed, and despite the offer of a reward there were no suspects. now the family planted a tree in celedon's honor. >> the tree is a thing that is living and will live. and hopefully it will fill the dark spot inside of ourselves. >> the family says the case is not lost and that investigators just n

[applause] >> our next speaker is nancy hong. nancy is an artist, writer, children's book ill administrator, curator and art's administrator. devoted her artistic career to the nonprofit art's sector creatingim mags for political, social and community events and causes her writing has been published in severalan tholologies. with that i introduce nancy hong. >> thank you for coming this is called bread and soup. beneath the bear bulb we gather to eat our evening meal of bread and soup. here behind the mission walls the kind speaks to us in euphemisms we avoids staring at our brown roasts faces, our hard boiled hands and violet veins he mouths his words like a fish careful not to mention china to us who are now fartherless and motherless in this new country. he does not know we created our own miracle that transformed the stale, hard crust into wrich crackling pork skinning. the soup and broth. our lips smack in satisfaction of this, our only taste of home. >> this piece is on angel island. the angel island immigration station whe

in hong kong. game between australia and the new zealand will be on sunday. >> they don't want to be known as the team that has problems around the groin area. there you have it. that's it for this edition of "world business today." thanks for joining us, i'm andrew stevens in hong kong. >> and i'm nina dos santos in london. you're watching cnn, the world's news leader. it's good-bye for now. >>> arnold palmer's story is an inspiring golf and business performance. while rising to the pinnacle of the golf world, he had a vision, to become an esteemed entrepreneur, golf course designer, tv pioneer, philanthropist and an inspiration to his army of fans. >> i achieved success beyond golf. but business owners today need help. fortunately, there's insparity. >>> this week on marketplace middle east, crude concerns. we look at how middle east producers are bracing themselves for an even further drop. plus, the regional outlook. we speak to a pair of leading oil experts about coping with the prospect of lo

in hong kong/4:30 in new delhi. welcome back. hong kong and london, this is "world business today." >>> for the past 5 1/2 weeks, rugby fans have been glued to their tvs watching the progress of new zealand's world cup. but for this man, the tournament has been a steep learning curve. paul vaughn is the ceo of england 2015, and his homeland is the next country to host the rugby world cup. cnn's alex thomas caught up with him in auckland. >> reporter: one of the most important things of any major sporting event is for the organizers of the next one to learn as much as possible. that's something paul vaughn has been doing, ceo of the 2015 tournament. you're going to host the world rugby teams in four years. what have you learned? >> this is the world's third largest event after the fifa world cup and the olympics, this is number three. and we're going to make it into the biggest event we possibly can. new zealand is a small country, and they have done an amazing job and actually embraced the whole thing across the whole country wit

targets for more perspective on this i'm joined by economic analyst mark and mark joining us live from hong kong thanks for being with us so given the scenes that we've just been seeing on the streets of athens do you think the government has lost the group has lost its grip on the country. the most important thing i would emphasize is that it's not just about greece because even if greece was not on the planet at all you would still have potentially a nation of bankruptcies and it to me spain portugal ireland even france fact standard and poor's has made an entry in an interesting projection on the sovereign ratings out of. back in two thousand and five six years ago where they projected that all the major western governments including france the u.s. the u.k. and germany were actually heading for drunk status on the debt rating simply because all of their deficits and government as a percentage of g.d.p. sustainable so don't get it wrong that it's just all caused by greece or that if you fix the greek situation then everything will be fixed in our view or not at all and yes in a way polit

enough to be swimming here, but doing it in hong kong harbor is something else.es, as you know, this hasn't happened in 33 years. back in 1978 this is the last time it happened. why? the waters were too polluted. apparently now a thousand swimmers were told the waters are safe enough which is the key there, safe enough, to be able to swim. i still think i wouldn't do it. i still think i'd need a good wet suitor maybe suba gear to get across the harbor there. >> indeed. hats off to them indeed. ivan cabrera, thank you very much. doing in hong kong harbor is another thing entirely. 1,000 swimmers turned out on sunday, first time in 33 years. >>> coming up on clrksnn. black and blue. new zealand prepares to take on france in a grand final grudge match of the rugby world cup. they'll have to over come demons from the past. we'll have the latest from auckland next. and then, in one blinding blink of an eye, their tree had given its last. but with their raymond james financial advisor, they had prepared for even the unthinkable. and they danced. see what a raymond jame

hong kong and shanghai both closed today for national holidays.'ll look at the markets that were open. the seoul kospi with the biggest loser, down 4% or so yesterday, down another 2% today. the nikkei also fell. it was up earlier on the back of those pretty strong u.s. performance on the dow and the s&p. but italy's credit rating downgrade plus the dexia rattling the markets here. and in australia, up by 1.4%, helped by stronger commodity prices, also helped by better than expected retail sales. >>> on wall street, there was a bit of a late surge in afternoon action. and we saw stocks making quite a bit of a comeback by the end of trading on tuesday. that came after those reports i was talking about before that european finance ministers were focusing very closely on propping up struggling banks across the euro zone. the dow jones industrial average ending the day up 153 points, nearly 1.5% higher. the nasdaq rose by 69 points, that's nearly 3%. and we also had the s&p 500 edging up about 25 points to close about 2.25% higher. let's have a look a

. >> and good afternoon from cnn hong kong, i'm andrew stevens. the top stories this friday, october the 21st. >> after gadhafi, the rebuilding of a nation, libya's new leaders looking to tapping billions of dollars worth of frozen assets. >> thailand's economy continues to take a battering as flooding hits more key industrial zones. >>> and as we head into the final weekend of the rugby world cup, we'll take a look at how one dutch brewer is scoring his own success. moammar gadhafi is dead killed by a bullet fired by one of his own die-hard supporters. now the nation is embarking on an uncertain but gadhafi-free future. libyans celebrated the death well into the night the council says it will declare victory on saturday and begin working immediately towards a working government. >>> it wasn't supposed to end like this. the interim leaders said they wanted gadhafi taken alive. when revolutionary forces found him hiding in this drainage pipe. the transition prime minister said that gadhafi was killed in cross fire when some of his own fighters atta

hong kong's organizers thought 400 would turn up today but they only saw half that. they vow this protest is only the beginning. celia hatten, cbs news, beijing. >> mason: here at home, occupy protests are reported in more than 100 cities from coast to coast. from their home base in a downtown park, new york protesters marched uptown towards times square late this afternoon. at least 24 demonstrators were arrested at a chase bank branch along the way. in orlando, florida, nearly 1500 people protested outside several local banks. in washington, thousands of people attended a jobs rally at the base of the washington monument. the reverend al sharpton condemned the u.s. senate for blocking president obama's jobs bill. from the monument the demonstrators moved on to the martin luther king jr. memorial which is to be dedicated tomorrow. for some perspective on the economic backdrop to the protests we're joined we financial expert jordan goodman. first the university of michigan confidence survey showed expectations hit the lowest levels since 1980. >> right. >> at the sam

police entered the home to find the bodies of o'toole and hong. >>> britney norwood will face another hearing in montgomery county this week. she is accused in the brutal slaying of her coworker. 30-year-old jana murray. >>> at the time of her death, dana was working in downtown bethesda while completing two master's degrees at johns hopkins university. her parents described what it was like for them to visit the store after their daughter's murder. >> when we went into the store, the first step was so difficult. and the lights happened to be out in the entire block. and we went to the site where they found jana's body, and we prayed. and as we felt ready to move on, it was dark the in the store, but there was a ray of light that came through the stained glass. >> it was time for the party to begin. jana is here. >> exactly. jana arrived and then, the lights came on. >>> the first of our special reports of the life and death of jana murray airs tonight. you'll hear how the family plans to carry on jana's legacy and you'll be amazed to learn their thoughts about murder suspect britney

it includes an overnight stay in hong kong. not bad. >>> now a look at the global weather forecast. >> hello. time for your weather update. let's start off with east asia. crisp and clear weather, blanketing much of japan. lots of sunshine for you. widespread showers can be found across inland areas of china. some rain will move eastward and could become heavier. down toward the south a northeasterly monsoonal flow across vietnam and the southern end of the indochina peninsula as for bangkok, a slight chance of thundershowers today. temperatures looking like this. another cool day for you in tokyo with 18 degrees, the same with seoul. manila expected to be 34 degrees, with mainly clear skies. >>> heading over to central america then, hurricane rina downgraded to a category 1 system, but still packing winds of 140 kilometers per hour. moving in a northwesterly direction and expected to hit the northeastern end of the yucatan peninsula by thursday. after it makes landfall it could become a tropical storm and head toward western c

taking a look at overseas trading this morning, in tokyo, the nikkei added 83 points while in hong kong the hang seng grew 534. >>> there's no short-term fix to europe's debt problems but for now investors are encouraged its leaders are working on a solution. at a meeting yesterday europe's leaders promised unlimited one-year loans to the region's lenders through 2013. that should help ease fears of financial instability and offer added protection in the event of a greek default. financials rallied here at home, including morgan stanley, which has taken a beating over fears of its exposure to european banks. back to school sales lifted most retailers providing some much needed confidence in the economy. that along with news that initial jobless claims rose slightly less than expected last week. is driving optimism that today's big jobs report will confirm the economy is not slipping back into a recession. good news if you can afford to buy a home. average rates on a 30-year fixed mortgage have dipped below 4% for the first time in history. a stock buy back plan and quarterly dividend bo

eastern, the boeing 787 dr dream-liner touched down in hong kong. good morning, it's wednesday, october 26th. i'm carol costello joining you live from new york. >>> president obama begins his day in denver where he'll spell out his plan to make it easier for student loan borrowers to pay off their enormous debt. he'll explain his plan at the university of colorado-denver campus. the two key points of his proposal, he wants to offer relief sooner by pushing up the start date for an income-based repayment plan passed by congress. it's set to take effect in 2014, but the president wants it to begin in january. the plan reduces to 10% the maximum percentage of income that more than 1 million current students would have to pay toward their loans. they'll also be eligible for loan forgiveness in 20 years instead of 25. the other proposal would offer a small interest rate break for borrowers who consolidate their different types of federal loans. "usa today" reports the outstanding student loan debt is expected to hit the $1 trillion mark this year. >>> de

. >>> hong kong authorities have earmarked $64 million u.s. to set up an international cuisine training institute. besides developing professional chefs, the school aims to promote catering, tourism and wine training. chief executive donald sang said he wants to develop the territory into what he called the ultimate food paradise. under the plan, 12,000-square-kilometer facility will accommodate some 2,000 students, including some overseas applicants. the new school is expected to begin operating in 2015. >>> and here are the latest market figures. >> rac >> hi there, time it take a look at the weather conditions as we head on into the weekend. well, as for eastern asia, starting to see some showers pushing across into central portions of china. now some of these are going to be a little bit on the heavy side. generally we're looking at showers here. indochina is looking a lot drier than it has in recent weeks, which is certainly very good news. showers will continue down towards the south, they should be more scattered ratherha the drenching