this is a purely india story, right? >> absolutely, pure india story. to the extent we have offices internationally and in new york as well. it's only a india product. and customers around the world or india. >> some say that india might fair the best in this global depression, recession, great recessi recession, whatever you want to call it, because the economy is so focused on india. there wasn't a whole lot of focus. is that true? is india more untouched than anyone else? >> it's primarily a domestic economy. the dependence on global trade is relatively small. january to march '09, india still grew at 5.8%. and the expectation for gdp growth in the current is april to march 2009, '10, is expected to be more than 6%. >> what do you do to grow your company? grab market share from others? >> focus on building a business which is serving customers and we are in commercial banking, securities, investment banking. we have an asset management business and life insurance business. all dedicated to india product and/or india customer. >> 80% of your lending h

india will evertake china to be the world's most populous nation.he question is where will the food come from for 1.5 billion people. already half the kids under age 4 under the country are mall nourished. 70% of india's people are rural. they barely krap by off tiny plots of land. every year tens of millions of them are driven by poverty into overcrowded cities in search of work. that means fewer and fewer food producers and more mouths to feed. at the same time environmental degradation threatens the prosperous breadbasket region of punjab. this person thinks one solution to the food crisis is to make small subsistence farmers more productive. he goes to villages like this one in the impoverished northern state and gets everyone's attention by inviting them to the movies. >> these actually are very long commercials for products sold by his nonprofit enterprise. but they have all the movie stables, he says. >> bollywood style with known actors and a good story. you have romance, fights, songs, dances, everything. >> reporter: and at the end of the

fred de m lazaro reports on india's struggle to feedts fast-growing pulation. the analysis of david brooksnd ruth marcus, fling in for mark ields. anthe prospects for a global deal on climate chan, margaret warneralks to the united nations' negotiator. major funding for thnewshour with jimehrer is provided by: ♪ hard rock guitar riff playing ) >> were intel, spsors of tomorrow. >> 150ears of financial strength and the experience an established iestment firm haveome together. wachovia securits is now wells fao advisors. the financial visors nearby annationwide. with thedvice and planning expertise to help you address toy's unique challenges, we're with you. wachov securities is now wells fargo advisors. togeer, we'll go far. >> chevron. is is the power of human energy. and the william and flor hewlett foundati, working to solvsocial and environmental problems at home and aund the world. and with the ongoingupport of these stitutions and fodations. d... this programas made possible by the corporation for public broadcastin and by contributions tyour pbs station o

india's goal is self-sufficiency.but with sugar production here down sharply and remained ste y steady, india could have to export almost one-third of the sweet stuff it produces. and that's a big change, given that two years ago, india was exporting as much as 20% of its production. the lack of good rains are just one of the many challenges indian farmers faces over their counterparts in other countries. >> the indian farmer has about three acres. an international farmer would have 1,000 acres of farm size. they have mechanical equipment, they have larger irrigation systems and makes it economical for him to grow sugar cane. >> due to the shortfall of sugar caneroduction, the price of nñ raw sugar on the international markets is now about 50% higher than it was at the end of last year. that's had an impact on the indian consumer. from syrupy tea to dense sweets, sugar is a common ingredient in the indian diet. >> the customer felt the pain of the price hikes and we felt the pain, too. we are getting the sugar cane fo

over the next 3 years india is aiming to build 15,000 kilometres of new roads. the hope is that this project would free up transport and stimulate the economy. theexpected cost is high at 30 billion dollars; but the to attract as much as 10 billion of this from foreign investors. >>reporter: traffic volume in india is growing at12 percent a year with the country's brisk economic growth, putting a huge strain on its road network. but road-building hasn't kept pace, leading to choked highways and potholed roads. >>: that's all set to change, according to india's new highways minister kamal nath. he wants a fivefoldincrease in the length of roads built each year. >>nath: we are looking at building 7,000 kilometres per year, starting from next year. because if you want to make a visible difference you have to have a quantum jump. that translates to 20 kilometres per day. it will be one of the biggest road-building programmes ever undertaken. at the moment we're doingabout 2 kilometres a day. >>reporter: this is a huge task and the government department entrusted wit

let's cross i don't ever into india. let's join, live from mumbai for the india business report. hello. >> 47.15 is here right now conclusively holding on to that 1.5% gain mark. back about 15,900 mark, all in all, good days. but the action is in the broader markets which i'll talk about a little later. but a couple, there's going to be implemented october 20th, but two new stocks are indeed idfc and jp associates. holding up very smartly in trade, although doesn't trade the b.e. or the eps. before that, of course, some important news actually coming in. they have signed a 50/50 joint venture with a chinese company for biostimulus. they're looking at bringing it up by 2010. that is one pharma measure holding up smartly in trade. besides that news coming in over the weekend. holding up very smartly in trade. now set to be the new corporate and open up 29.4% stake is going to be clocked at 1.20 apiece per share will open on october 31st. it's the entire oil marketing, which is really seeing a flurry of activity hp, bp, all holding up strongly, and the rough-off effect is perhaps al

and monsoon the stricken town and all of india and this is the height of the monsoon season. ere was no raid that day but a very thick fog. asset was sitting in his room that has a large picture window looking at the congo river valley i could just see this thick intangible this domino houses are humans or upnews -- no sign of the real world and it is if these two false -- philosophers are sitting on top of the mountain and in my ignorance i did not know the dolly llama had already been dealing with beijing for 25 years at that point*. i could not understand most of what they said but it meant that as soon as the dolly llama made his trip to this country than in the '80s he would, looked more often not the have fairly regularly in new york now it is in surmountle to think 1984 nobody almost knew what the dali lama was or whether he was a really -- are real human being three tibetans in me which usually show up on my way here i met today colleague of mine. in 1985 i set up a lunch for the dali lama two hours before they rang up the repression moth they did not want to come in

india by storm. julia reports new film. "eat, love, prey" in india. roberts will be in india for a couple of weeks, filming the adaptation of the novel. >> all right, we'll be right back. >>> letterman is next with felicity huffman. ( band playing "late show" theme ) >> from new york, the greatest city in the world, it's the "late show" with david letterman.

one-third of the million people who worked in diamonds across india lost their jobs. international demand is way down. but the indian market is now even stronger than before the crisis. >> [unintelligible] >> in the back office, this man runs his own small i.t. company with a contract to design software for a diamond company. one year ago, he was struggling to keep his business growing and prospects were bleak. >> [unintelligible] >> let's remind you how pessimistic you wore this time last year. compared to one year ago, he has new contracts and 15 staff. >> from the last six months, things are doing really good. that is increasing the employment around. six months from now, we will see a good business. >> central to india's remarkable resilience has been two things -- first, the government stimulus measures that put money into people's pockets. second, the longstanding refusal de-regulate the financial sector. now it is seen as a wise and prudent reluctance to follow the example of the u.s. carried by and large -- by the u.s. it has not slowed the lifestyles. >> stay

india, i don't think i'd want to be treated in india if i could avoid it. there's nothing wrong with it, but i'm not sure their sanitary standards are as high, i don't want to demean india, i got good care in india myself. i'm american, i'd go to an american doctor. i'd get great care. and i have decent insurance that would pay for it. the problem is tens of millions of our fellow citizens don't have that kind of access. >> are you buying insurance other thanhead care now? >> i am. you know what i'm doing, ladies and gentlemen of america, you're subsidizing me. i bought one of these medicare advantage plans. you know the history of medicare vack, it was set up to prove private insurance companies could provide the same coverage as medicare more efficiently. as it turns out, they haven't been able to, they get a subsidy from congress, they get about $1,400 per person per year that's paid to subsidize them to provide me insurance. and it turns out it's very cheap insurance because i'm getting subsidized by the taxpayers. president obama and the democrats in c

leap for india's space progra ey launched seven satelles. the fath of an iraqiivilian who ed after being butally beaten in british milita custody has brokenown in tears after dcribing the impact o s son's death. he told an iuiry in london that hbelieved his son had been abused in revenge for a compint made about the conduct of british fors in 2003. r >> fr by hisaw was flown in -- flanked by his lawyers, he was flow in from ir. he identified his son'body. he said he lost his wife to cancer a few months earlier and had 9 separate inries -- and his son had 92 separate injuries en he died. t was early in the morning when soldiers raided the hotel ere he worked as a receptiont. they were looking for three surgns. the inquiry has delighted the family. today, he said he was seekg juice from a democratic cotry. he was sure would come out. is afternoon, one of the men detaed it cannot be a entified, gave evidce. he suffered broken ri. he told t quiry th treatment was believably cruel. "it would have been bter its you died." [beep] the tel worker was

india has its taj mahal. rome has its art. england has its history. but we have the great american outdoors. and if, as ken burns has said, our national parks are america's best idea, we intend t we in ted north carolina tend to think the great smoky mountains are the very best idea because so many people visit it than visit any other park in america. but what those people did, whether it was the schoolchildren with the pennies, the governors of the states, the legislatlegislators, whether ite people of north cearld and tennessee, it shows the foresight of thinking ahead for the benefit of future generations. in in 1934 the assistant new ranger of this park wrote a memo to the superintendent outlining the wildlife he found there. there were 100 black bears in 1934. there are 1,600 today. there were 315 wild turkeys in 1934. the other day i saw 21 outside my window two miles from the park. 75 years ago there were 12 white-tailed deer in tennessee and only six in north carolina. they're all over the place today. there are no falcons, no elk. they are th

india number two. brazil and russia also. indonesia, really throughout asia, largely throughout asia. in america, we have one car per person. we're going to be replacing our cars. that is a big question that what i'm going to replace our cars with. are going to replace them with the 20-mile per gallon suv that we already own or something ally novel. >> is the american dream and the american car dream gone in your view of? >> i think that the dinosaur vehicles and that we drive should be gone. i think mobility is not gone. we will want to be as mobile as ever. will have to think of far more creative ways to be mobile and cars that get 80 or 100 miles per hour using our blackberries to hook us up with automatic car share services, using paratransit to pick us up where we have to go. we have already started telecommuting, not always coming. when i wrote this book with advanced berling, i think that we ended up getting together in five years of writing a few times that we had a virtual experience writing this book. so there uasn'

. >>> and from india, there is a warning about a severerought to come.with india's rainy season aout to end, rainfall ha been 20% less th the counry usually gets. ofcials worry that the shortfallill stunt farm crops and disrupt t flow of water into reservoirs thatre used t generate hydroelectric power hampering india economic growth. over the last seval ars, india has had one of theworld's fastest growi economies. > in south america, in peru, they are also experiencing tir are of unusual weather. but th coequences there have been mordire, leading to hureds of deat. overhe last several years wiers in peru's andes mountains have gro longernd longer wh nhttime temperatur often dropping far below normal, all e way down to 20 bow zero. peruvian officials believe global warmi is behind the unpredented cold spell. itn's gish juneja rerts from this little vited are >> reporter: a mixtre of poverty andlimate change lled baby ros she died so after catching pneumonia. there was nonearby medial facility. but rose's distught faer sa the sudden onsetof the illness dow

>> maybe we'll see a symbolic move by india and the u.s. that would be a nice gesture. >> frank, thank you. frank lavin for under secretary international trade here in the united states. this is the first friday of the month, so that means one thing, that the u.s. government will release the all important jobs report at 8:30 this morning. nonfarm payrolls are forecast to drop by 225,000 in august. if this forecast hold up, if the numbers are accurate, it would be the smallest monthly decline in a year. the unemployment rate is expected to tick up to 9.5% and average hourly earnings are seen rising by 0.2%. joining us now is rob carnell, chief international economist at ing. rob, thanks for being here. you think today's number could be as high as 290,000, correct me if i am wrong. why so far ahead of the consensus? >> i don't think any of the consensus really has the first idea what payrolls are going to do in any single month. if you look at the spread out there, it's pretty wide. i would agree with the general tone that the labor market is

. >>> and from india, there is a warning about a severe drought to come. with india's rainy season about to end, rainfall has been 20% less than the country usually gets. officials worry that the shortfall will stunt farm crops and disrupt the flow of water into reservoirs that are used to generate hydroelectric power hampering india's economic growth. over the last several years, india has had one of the world's fastest growing economies. >>> in south america, in peru, they are also experiencing their share of unusual weather. but the consequences there have been more dire, leading to hundreds of deaths. over the last several years winters in peru's andes mountains have grown longer and longer with nighttime temperatures often dropping far below normal, all the way down to 20 below zero. peruvian officials believe global warming is behind the unprecedented cold spell. itn's girish juneja reports from this little visited area. >> reporter: a mixture of poverty and climate change killed baby rose, according to her parents. they died soon after catching pneu

i would like to take up churchill's attitude toward india. he opposed the government of india and was less than enthusiastic about the mission in 1942. does this blemish his image as a great war leader? >> the whole question of the bombing of germany has two sides. one is the military side and one is the moral side. and the military side, one has to acknowledge the fact that it was a second of front. it does not justify the bombing of hamburger or dressed in or anything like that. -- hamburg or dresden. they would not have had to withdraw the bulk of the fighting units from the eastern front to defend the right. that allowed the major breakthroughs of the eastern front. as was pointed out, the creation of the bombing force was almost a monster. once it had been created, it is very hard to stop it, and that is one of the terrible effects of the industrial and the manpower investment which had been made in bomber command, and why it was so difficult to stop it toward the end. there, churchill was certainly at all. he should have reined in harri

neither india nor pakistan has been responsive to each other. we're still suffering from buy. they could possibly increase their nuclear arsenals to high- yield, above 200 kilotons per weapon. the pakistani is have courageously surat -- shifted their attention to the west. but that could cause them to go back to their traditional enemy. what might you suggest to propose further to the tensions between india and pakistan said pakistan can really continue to be engaged in the issue at hand, namely, dealing with insurgency and not becoming transfixed with the indian threat? >> i had been impressed with the ambassador pulling together the top leaders of pakistan and afghanistan to the united states. i have been privileged to participate in two of those conferences and various junctures, as we met during the week or at the embassies. it doesn't get to the indian problem, but for afghanistan and pakistan, this is the first time that most americans had ever really heard or seen these persons engaged in dialogue. my impression that it was the first time some of these leaders themselve

while the financial cris left many countries reeling, india has proved impressively brilia. although eorts were badly hi consumers cut speing to the worst of the downturn. the mood in mumbai is ueat. >> one year ago, and the apostle commercialenter for devastatioand much of it commercial business. one year lat, commercial spending is back. turnover and prospects are tter than eeryone feared. most businesse have bounced ck carrying -- bounced back. they ly on marke li diamond processing and aevered at the for month nine nse of all the world's diamonds are procesd in mumbai. one-ird of thmillion people who rked in amonds across india lost their job nternational demand is way down but the indian market is now even songer than beforthe crisis. >> [unintelligible] >> in the back oice, this man ru his own sml i.t. comny with a contrt to design softwa for a diamd company. one ye ago,he was struggling to keep his busine growing an prospects were bak. >> [unintelligible] let's rend you how pessimistic u wore this time st year. compared to one year ago, he has new contcts and 15 staff

. >> julia roberts was spotted in india with a swami. remember when paris hilton came out with a guru? >> this guy is in india. >> i'm not falling for it. >> suri cruise and katie holmes went to a fairy shop. suri is hanging out with the gnomes out front. there's a joke in there somewhere. >> david duchovny at lax. the camera guy says i have every episode of "red shoe diaries" on v.h.s. >> "red shoe diaries"? >> it's a softcore porn series. >> you record it and label it "star wars." >> congratulations! >> it's day two of "tmz" extensive coverage of the impending nuptials of khloe kardashian and lamar odom, or, as we call it, khlomardia. it's infectious. >> kobe going to be best man or what? >> the wedding is still on for sunday. you can buy them a blender at williams-sonoma and you know lamar is going to enjoy his single life while he still can. >> his bachelor party is hosted by joe francis tomorrow night at les deux. >> it says drinks, stripper poles, midgets. >> whoo! let's be p.c. here. they prefer to be called dancer poles. >> hoste

intelligence show as to whether india poses a real threat to attack pakistan? what does u.s. intelligence show as to whether pakistan poses a real threat to attack india? what does u.s. intelligence show as to whether pakistan could reasonably devote additional military force to assist us in the fight against the taliban? what does u.s. intelligence show as to whether the government of pakistan or influential officials in the pakistani government would consider negotiating with india for reducing nuclear weapons or other confidence-building measures to diffuse the tension with india if actively encouraged to do so by the united states? what does united states intelligence show as to whether the government of india or some influential officials in the indian government would consider negotiating with pakistan or reducing nuclear weapons or other confidence-building measures to diffuse the tension with pakistan if actively encounselorred by the -- encouraged by the united states to do so? we have learned a bitter lesson from iraq, that we do not have answers to important questi

as it does with india. our conversations with the indians are closer and more abundant. it is more important than they know that we have some sophistication in terms of pakistan. we at least know who the people are, can call them, can argue with them, in a point of crisis, perhaps intervene. so there is less chance of a confrontation. i think this has worked remarkably well in what has been a very difficult set of circumstances. now, india, as you suggested has orders for a large amount of new armaments. i looked them up. our defense contractors are very eager to make those exports, as most of us are in the balance of issues. with the pakistanis, we likewise have a program that was announced by the president, the so-called kerry-lugar bill, and this has been interpreted in many ways. they are suggesting how the money, 1.5 does billion, might be sent, not just this year but for five years, and the important thing is that this is not an innocent proposition. there is a multilateral commitment. i think we are moving pragmatically, quite apart from afghanistan. each country

india's going to grow at 5%. i mean, to some extent that's already been reflected in the price of the stocks. those markets have moved fairly significantly. but i definitely think you have to have some money in emerging markets. >> okay. let me get your take on earnings. we just get the news that palm is out with this quarterly report, byron. reported a first quarter loss of 10 cents a share. but actually, the estimate called for a loss of 25 cents a share. broadly speaking, on the earnings picture coming out of corporate america right now, what's your take away? last quarter very much the revenue growth was lacking. and it was an earnings growth story, but largely due to cutting of expenses. is that still going on or have we shifted? >> well, you know, from my earlier remarks, i said i think revenues are going to be better toward the end of the year. costs have been cut to the bone. so i think you could have -- you know, where earnings have been good, because revenues have been disappointing, but costs have been

india, pakistan, many of the countries of asia are today exporters of rice and wheat.not that there aren't still a number of hungry people in those countries, but the problem is no longer a absolute lack of food production. they're able to produce enough food, they now need to distribute that food more broadly. >> gary toenissen, we know that in later years, in recent deate -- decades his work was criticized for the environmental impact, social impact. how did he deal with all that? >> well, he learned from it. sometimes i think norm got a little frustrated with some of the criticism because some of the critics seemed to miss the point that the primary objective was to feed starving people. >> i mean the essence the critics were saying that he is hurting the environment, changing people's lives in harmful ways. >> that's right. well, the main thing was the environmental impacts. and there were some negative environmental impacts. use of pesticides or let's say pesticides were overused. to some degree, fertilizer and irrigation can be overutilized as well. but norm reco

india has now joined in, vietnam has joined the wto. they're big exporters, and as these companies start producing more and exporting more, you get a wealth effect on the societies nominal wages go up. and if you see in india, for example, over the last four or five years, real wages have increased at the fastest clip all over the world in india and people are now consuming more. growing middle class in china and in india and vietnam and other developing countries in latin america. and it is clear to me that this is where the growth will come from. maybe not in the year or two years from now, but i don't think anybody can argue when i say that in 10 or 15 years from now, consumption in asia and the other markets are going to be far greater than the west. simple economics that the people which produce and export and sell their goods and services to the whole world go home to the money and eventually the riches and people who live beyond their means and borrow and consume tomorrow's consumption today eventually have to pay back. and this

the stubble of india was all very well for my generation. we did not have to put up with all the sort of nonsense that the french had in vietnam, let alone algeria. let's not be too smug about that. the next thing i would like to point out is, is it terribly sensible strategy, in 1944 and 1945, to bomb germany to bits? the speakers on my side have talked about that. you all note the scenes of bombing cities -- of the bomb cities in berlin. it was pointed out the extraordinary sadism with which was carried on. an utterly harmless little town was simply obliterated in the very end of the war. why was this carried on? leaving the ins and outs of the bombing offensive on one side, is it not a little bit silly in 1944 and 1945 to be bombing into the ground a country with which you are going to be militarily allied three or four years later? i remember myself the glee with which as a small boy how would look at the pictures of the hanged war criminals and read about it. it was the world where the daily express would lead with the headline "babies

across india the demand for whiteners is soaring.sers say that women swoon over. sarah has the story from new delhi. >> reporter: this television commercial is sending out a not so subtle message to men in asia. one actor says i'm unlucky because of my face. not because of your face, because of the color of your face the other says. then he throws him a skin whitening cream. you get her just like that, referring to the girl and indeed after putting on the cream he does, in the ad anyway. skin whiteners once mostly targeted to women in india are advertised to men from some of the best known cosmetic brands. a marketing study found sales have jumped more than 100% in rural india. this man says he knows why. he runs 140 salons in india and around the world. >> we have a complex with the white skin, toward the foreign skin or foreign hair. >> reporter: in recent years indians have more income than ever and guys are not shy about spending it on their looks. >> they are trying everything. >> reporter: men used to be embarrassed about this.

you note india's demand for jewelry has plunged more than 30% but deposits have increased. so there's fire power that could be used for gold purchases. right? >> absolutely. there is news out today one of the largest jewelry store chains in india is seeing gold demand picking up. gold jewelry. because the fear of a recession is going away. so people are spending money and they've noticed that gold in rupi terms has gone up. you can buy beautiful 24 carat gold jewelry with only a 10% mark-up. that's a very key factor. what's also very important to look at is this inverse relationship to the dollar. today the dollar is down 44 basis points and gold is up 22 dollar. there is for 70% of the time over the past 20 years when the dollar is weak, gold is up. today is a classic example. in the mochbt september is historically one of the weakest months for the dollar along with december. >> you think that -- obviously that means you think gold will go up this year but i like how you say this, from good to great. while september is a good month for gold, it is a great month for gold s

tekelec's business was supposed to launch in india by the end of september. it didn't.y now it's expected to happened by the end of the year. fingers crossed. as tekelec already does business with five of the top seven carriers in india and controls more than a third of the market for local number portability, india should be gigantic for them. that's why i don't mind the delay. i don't think delay matters. tekelec wasn't expecting local number portability to hit its income statement anyway. the delay will not hurt numbers. i think this is the time. international opportunity still very much alive with the u.s. now picking up, tekelec is, yes, a speculative buy. there are ten more countries implementing local number portability in the next two years -- argentina, brazil, china, chile, ecuador, peru, russia, thailand, turkey. come on. >> all aboard! >> buy buy buy! >> on the text messaging side carriers are getting even more competitive. sprint coming out with the plan, unlimited e-mail access, texting, and gps navigation $70 a month. i may have to switch to that. that's

right now, let's head over to india and check in on the markets there for the mumbai india business report. we have ream ma tendulkar. >> we're sitting on a bit of correction for the markets right now. but it's the broader universe which has managed to hold its head up in the fwreen. the ratio currently stands at 3 to 2. there is a lot of fund-raising that is taking place. reliance has fired the dhrp. the shareholders have approved raising fund up to $400 million. there is an exclusive that jp hite is looking to raise about $ 00 million. there is a lot of money which the markets are looking to tap at least from the retail and the institution side. apoort from that, it's the entire metals space. on the flip side, it's the defenses gathering some interest. on the losing side, hindalco about 2.5%. on the gaining side, pharma is doing an exceptional job. ranbaxy and the nifty up about 4%. with that, it's back to you. >> reema, thank you very much for that, ree ma'am tendukah. julia. >> and coming up, g-20 leaders say they won't withdrawal emergency stimulus measures prematurely. >> and we'll b

i don't like would want to be treated in india.there's nothing wrong with it but i am not shirk their sanitary standards are as high. i got good care in india. i american. i would go to an american doctor. i would get great care and i have decent insurance that would pay for it. the problem is, tens of millions of our fellow citizens do not have the kind of coverage host: are you buying insurance other than medicare? guest: yes, people in america are subsidizing meat. i bought a medicare advantage plan. it was set up to prove that the private insurance companies could provide the same coverage as medicare more efficiently. as it turns out, they have not been able to. they get a subsidy from congress. they get about $49 per person per year that is paid -- the about $4,900 per person per year. president obama and the democrats of congress say they will end that. i will probably lose my sweet deal. at the moment, it is not right but i have a good policy subsidized by the taxpayers. host: one year from now, will there be a health care

in india, said these packaging manufacturers, where the economy is still growing, banks are controlled by the government. >> so it's not like they're on their own and they can give any loan without asking the reserve bank of india. >> so it's not like you're getting 100% finance. >> reporter: more like 75-85%, tops. and as in india, in canada too banks didn't bet on magic. >> there's our genie coming out of the bottle. >> reporter: didn't grant loans that is, to borrowers who could not afford them. >> we didn't have people buying $300,000 houses on $50,000 income. >> reporter: your banks are highly regulated. >> we've not had any bank issues, bank problems at all. >> reporter: so then won't the g-20, dominated by the u.s. and europe, agree to more bank regulation? and especially, to fixing the perverse incentive pay of bank executives? >> nothing's going to happen. >> reporter: no, says m.i.t.'s roberto rigobon. >> it might be good to have a discussion of how we should remunerate c.e.o.s in general and i think that's a valid discussion and when you look at the academic literature. it's

stock market is surging, china and india -- india firing on all cylinders and no one would be surprisedif in the next one of the u.s. economy shows signs of growth, too. this is exactly the wrong moment to let up on the mean and lean strategies. in fact, it's time to go third and developing a new, even tougher mind set managing for, yes, the next recession. do you think the next recession is coming or do you see signs of economic recovery? also the latest cover of "business week." it says why the market will keep going up. the storm has passed and the old rules of risk and reward are back. indianapolis, indiana, nancy joins us on the independent line. good morning. nancy, you need to turn the television down. i got it. -- caller: i got it. sorry. hello? the thing i'm concerned about the most is inflation because they printed too much money and the devaluation of the dollar, and the dollar essentially as not going to be the reserve currency anymore. my concern is i have been buying gold and silver, and i will not get into the stock market because i think eventually this economy is going

cheryl: good buy, u.s.a., hello india and china. news that more and more highly skilled workers in america are packing up and heading overseas, a sign we are no longer the land of opportunity. jonathan, what do you think? >> cheryl, this is the greatest country in the history of man kindt. -- mankind. but what made us so prosperous was not mount rushmore or the grand canyon but our commitment to free market capitalism. it made us unique and the country's philosophy, not their natural resources determines how successful they are. so, the harder the government makes it to hire people, to do business, more regulations, more taxes they put on businesses, of course, they are going to look other places. cheryl: but, tracy, the point is are the best jobs still here in this country? >> i was thinking this weekend that i will pick up my kids, move to india because there are a lot of opportunity, dirty water, they will get over it. that extra arm, it will be ok. jonathan, this is nuts. capitalism will reign supreme. it is a little messed up,

a woman in india gets trapped undea moving train. >>> and a washington state mini mart is invaded by wayward cattle. captions paid for by nbc-universal television >>> hello, and good morning, everyone, i'm dan kloeffler. and today we begin with the end of a battle. this morning, friends, family, and millions of fans are remembering actor patrick swayze who lost his fight against pancreatic cancer monday. from his leading roles to his defiant fight against the disease, the actor, dancer, and cancer awareness advocate always showed off his best moves. george lewis reports. >> reporter: swayze leapt into hollywood stardom in 1987 with "dirty dancing." a role of a lifetime he'd been preparing for since he was a kid in houston. his mother, patsy, is a famous choreography who trained him at an early age. after his dancing ability led to broadway, he landed tv and movie roles. then came his big break. >> good. >> reporter: in "dirty dancing," he got to show off the moves he learned as a teenager and his acting chops, as well. >> nobody puts baby in a corner. >> reporter: it catapulted swayz

. -- india announces capability.uclear weapons with the same destructive power as those in the arsenals of the world's major nuclear powers, bolstering its strategic defense against potential aggressors within the region. new delhi's siniora, officials said india had build weapons with yields of up to 200 telecoms, which they said would be considered a proper strategic deterrent by the global community. st. mary's, city, maryland. gladys on the democratic line. caller: very distressed to hear from all of the callers regardless of the party, attacking israel. israel is the smallest country over there. they have been our strongest ally and every time something happens they are the scapegoat and i am sick and tired. we are ruining our country internally by trying to influence our people that we should be a sense of this country. i ran is a threat. we have the proof. everybody -- iran admit they would like to destroy israel. israel has saved us from being the aggressor. people ought to start thinking about history a litt

be specific and ben brought it up i would rather be in china, india and maybe a brazil fund. neil: haven't they had their comeback? >> china had a big run up and fell apart. now it is going up. neil: i want to thank all of our panelists and we have david securities which leads to inflation and weak economy and who would imagine george bush looking like skruj. -- scrooge. david: so, only one crisis and spending too much money? >> one crisis is a priority crisis. i can tell you one thing we need to spend more on. you have people falling off the unemployment rolls because unemployment benefits are forno available long enough because we are not creating jobs. they should expand unemployment. there is spending we need. we need to prioritize the needs of real people. david: jack, he is talking about minister spending. >> now we have a welfare crisis. mike, i have to disagree. i think spending is a big problem. you don't have just huge budget deficits at the moment as well as public debt of u.s. debt. you have estimates growing every three months trillions being added to the estimat

and as india, in canada too banks didn't bet on magi >> there's our genie cming out of thbottle.reporter: didn't grant loans that is, to borrors who could not affo them. >> we didn have people buying $300,000 houses on $50,0 income. >>eporter: your banks are highly regulated. >> we've not had anbank sues, bank problems at all. >> reporter: so then wot the g-20, dominat by the u.s. and europe, agree to mre bank regulation? andspecially, to fixing the perverse inctive pay of bank executives? >> nothing'sgoing to happen. >> rorter: no, says m.i.t.'s roberto rigobo >> it might be good to hav a discussion of how should munerate c.e.o.s in general and i think that's valid discussi and when you look at the academic literare. it's not very clear thathe way are paying the incentives the financial cent is good, no it's bad! but i think the discsion that is happing right now is happenng in a world that has full of rage, we're nothinking a lot. we're acting a lot buwe're not thking a lot. >> reporter: so ribon is glad the g20 won't do ch. nobel laureateoe stiglitz, o'd come to the beauty sh

it happened in india. >>> there could be heavy traffic around the u2 concert. >>> and we'll tell you about a 500-rat diamond discovered in africa. >>> starting soon, metro will be keeping a closer watch on passengers. the transit agency has gotten a homeland security fund totalling more than $78 million. the agency will spend a good portion of that money on surveillance cameras. chris gordon reports. >> reporter: you may have noticed surveillance cameras at metro rail stations, on platforms keeping an eye on passengers, but metro has no cameras on its trains. the new grant from the department of homeland security will allowetro to equip all of its traincars with cameras, supplement the surveillance at its stations, and installed cameras on every metro bus, currently only half of its fleet is equipped with cameras. the homeland security money will allow metro to monitor all of its buses and trains, to manage crowds and crime. >> i think that's a good idea, because you never know who's in there, and you always want someone to keep a lookou for you when you're in the trains, even in the

teenager from india. she's believed to be the world's smallest girl. a documentary airing on national geographic channel tonight. >> it's sunday, september 13th. >>> we have a shocking end to the women's semifinal at the u.s. open last night. defending champ serena williams exploded at a line judge and that tirade lost her the match ultimately. >>> also coming up, a small japanese town comes under international pressure, the annual dolphin hunt there. we'll tell you about the documentary that sparked worldwide outcry. we'll speak to hayden panettiere. >>> plus, the man behind the da vinci code, best-selling dan brown, his new book comes out. fans can't wait to read about washington, d.c., and the masons and how many clues are hidden in our nation's capital. we take a tour coming up. >> but, first, ron claiborne with the headlines this morning. >>> we'll begin with that wild tennis match last night, a dramatic and bizarre finish to serena williams' semifinal match at the u.s. open. the bizarre ending came when serena lost her temper over a official's ca

. >>> religious statues dunked in india's rivers, lakes, and oceans. threat? >>> and this just coming in to cnn. according to the associated press and we have actually been able to get more information and confirm it with our phil black who's going to be joining us from london in just a second. just to set the scene on september 11, apparently riot police have gathered outside a mosque. there appear to be some clashes that are taking place. phil black, from what i understand, between the muslims and the anti-islamic extremists, they're protesting outside this london mosque? can you set the scene for us and tell us how rowdy it's become? >> reporter: it's been getting a little bit sense here in the last half hour or so. let me put this in some context to you. everything that you see here. strong police presence, several hundred people here. these people have all gathered because of a protest by anti-muslim protests. that large building there is one of london's biggest mosques. it was called by a coalition of extreme right-wing groups to protest what the

. >>> turning our attention to india, ayesha faridi joins us live for the india business report. hello there. >> hi. thanks very much for that. it's a positive session. that's how we have come back after the extended long weekend. the nifty has been hovering around that 5,000 mark. the midcap is holding up okay. so two sectors in focus today, which is holding up and supporting this particular market, that is ic indeed. a couple of comments coming in from ge. now they are are looking at currently upping their indian business, as well, and extending their relationships with players like tech and tcs. so tcs, indeed, is a big winner in trade today. the counter was holding up by nearly 4.5% the last time i checked. two stocks in focus in india, as well, disman farmer is the biggest climb for them and they say that the business is not going to be impacted. abbot is listed, as well. stocks are definitely in focus. meantime, they take the shine right now. it's the festive season in india. this comes in the background of an import dip that we have seen this year. but this time, experts a

provided arms and move them to india front. do you have reaction to that? >> first of all, musharraf is a private citizen. he provided very few details. so we refer you to him to get these kind of details. but i will say as general principle we take very serious -- very seriously any allegation of using u.s. origin military assistance for purposes other than we had already agreed to and that we had intended for them. >> do you think there is any recourse, and are you worried about the diplomatic implications of what the former president is saying? >> well, again, this is -- is a very broad statement with no specifics that i know of. and we would just need, i think, to have more details about that -- >> was there -- windel weapons were sold to pakistan, was there an understanding or a profession that they would not be used against india? >> malae -- >> who did you think they were going to fight? they had three words. >> yeah, well, again, i don't know all of these hills what mr. musharraf said. but i believe that he was referring to this most recent assistan

an agreement by chavez by having 20,0 barrels per day andat the same timlooking at alternatives for india. >> h would those gasoline sanction b enforced? >> i think it would bedifficult tonforce it. you would have to fd out the refineries tt are selling to the iranians and go tthe refineries and sayf you continue tdo that we will retaliate against you. ocking the straitf hormuz and the entrance to the gulf would really be an act of war and it would be counterproductive inhe long run. in the past, sancons have nded generally not to work. is tre any reason to believe that is time around they cld be effeive. >> well, sanctions are effecte when everybody is sort of reeing on what they wnt to do. so, for ample, in the case of the aircraft industry, boeing and airbus, europeans and americans havegreed not to sell aircraft to the iranian regi and so e airline indust there has suffered and planes arealling left and ght. however, is questnable whether th's an eective way ofnfluencing the regime and the ople becase they start blaming us for it. th financial sanctions have been -- >> wldn't most ira

he's the sonof the band militant group that india say masterminded the assault that killed 166 pople in november. pastani policelaced him unde hous arrest in connection wi two charges of hate speech against the state. charges that fall under terrorism laws. >>>ne day before president obammeets here in new rk th the laders of isra and the palestian authority, israel's air force launched an atck on palestinian rgets in the souther gaza strip early today. the targets were three t israel says aresed to smuggle arms into gaz across e border from ypt. th israeli army said that the attacks were in rponse to ckets which were fired into israel by palstinian militants from gaza over t weekend. also ahead of tomorrow's meeting in new york, palestinian authority presidt mahmou abbas met in cairo with egt's present hosni murak. abbas repeated the palestinian position tha netiations with israel cannot rsume wiout an agreemt by israel to freeze jewish settlementin the west ba and arab east jerusalem. >> translator:e have yet to reach an aeement on the ttlement issue. it willlikely require additiona

. >> reporter: one line sounded like george bush who agreed to cuts without similar actions from india and china. >> but, those rapidly growing, developing nations that will produce nearly all the growth in global carbon emissions in the decades ahead must do their part as well. >> reporter: this was not the leadership the world's diplomats wanted. >> many of the key players were disappointed with what the u.s. brought they were hoping there would be more. >> reporter: carbon dioxide to the table. emission from burning coal is changing the climate. 80% come from the world's richest countries, the biggest, china and the u.s. each account for 20%. the u.s. held its cards close, surprisingly, china put some on the table. >> translator: chi gnat stands ready to build a better future for the generations to come. >> reporter: they said china would increase the energy from 15% by 2020. cut emissions but not by a specific target. the most dramatic plge came from japan, responsible for 4% of the world's emissions. >> for the mid-term goal, japan will aim to reduce its emissions by 25% by 2020.