such contributions have been a rarity in italy, but with a stagnant economy in italy and being on theerge of bankruptcy, that is fast changing. >> the coliseum need this, because italy especially with the crisis doesn't have enough funds to launch these big projects. >> this promotional video for the sponsorship deal states that investment in the monument is to clean not-for-profit. but many are dubious as to what is in it for the range of companies rushing to respond to the culture minister's declaration last year that italy's doors are wide open to philanthropists wishing to tie their name to a famous monument. >> the sponsors are only interested in the most famous monuments, the top 10 the coliseum, pompei. the coliseum does not need a sponsor. it is packed with tourists and already earns a lot. >> stones throw away, the trinity fountain. currently being restored with 3.6 million euros from a fashion house. and then there is bulgari's 1.8 million euros to the cities -- the city's steps. is it commercial explication in the name of the city? -- publicity? will: a lot of negative resu

italy is a huge country. southern commerce in italy and huge welfare state. >> you are not saying that because of your last name either? >> i have family in southern italy. it is a big welfare state and kind of like what goes on in greece. >> it will be interesting to see with the talk on debt does that open the door here to talk about debt >> that is a great political question. >> thank you. i will be asking that in a bit. great talking to you. >>> severe thunderstorms threatening the northerner planes and the upper midwest today with the scorching heat wave in the northwest is now in its second week showing no signs of letting up. we are live in the extreme weather center. >> reporter: good to see you. hello everybody at home. we are tracking a threat for severe weather and several areas we are keeping a close eye on. one is across the central plains to the great lake and the southeast and the atlantic with a threat of large hail and damaging wind and flash flooding with a lot of moisture out there especial

>> ( translated ): we were trying to go italy. we left zwara to go to lampedusa. >> reporter: do you remember the day that you were rescued? what happened? >> ( translated ): we saw lots of boats. we were trying to call them, but they didn't respond. >> reporter: there are now several hundred migrants and refugees from africa and the middle east living in the area around zarzis. many fled war, poverty, or persecution in their home countries. some stay only a few weeks, before walking 80 miles across the border to libya, to board boats bound for europe. one more time. ousman kebbeh is from gambia. he journeyed by sea to europe three times. the first two times, he didn't get far-- he was rescued and returned to libya. during his final attempt, he was saved by tunisian fishermen. >> we just waiting for our deaths, no options. you just inside the boat waiting for our time to die. >> reporter: the fishermen sent us this cell phone footage that shows ousman's rescue. he was onboard a plastic raft, crammed with 90 other people heading to

charles: they to but italy -- >> not like greece. charles: italy with a new guy, young, handsome. i don't think he will fold up the tent so quickly. >> they seem to be coming out of it, but here is concern. if you see political tides turn, then the entire financial community will say, you know, it will come down to crazy domestic politics, that is why eurozone, in and of itself will never work, milton friedman predicted this in 1997. said you cannot have a economic unit without a political unit. that is the problem. charles: it has been my contention that germany always wanted this to be usa of europe with germany in control. >> to see their debt forgive intwice in modern times. >> germany. charles: what did they give up for it? they had to give up after the war some manufacturing capability. germany, has what it takes, period. question is, does greece? do they have innovation, and get up and go? you talked about them being, that greeks were too lazy to build app economy from scratch. >> they are, government has allowed them to be lazy. but we're seeing it here, i joke we have a d

at the beginning i was a full bright professor in italy and at that time in the mid-'90s, italy was divided. the north was talking about secession and the -- they were calling for separate government, and i learned about this story of garibaldi and it seemed to me just a kind of bizarre curiosity, and it had been dealt with before by historians, kind of ignored and forgotten or treated as just a curiosity. i wanted to learn more. and that opened up the whole story that i followed, that produced this book, and i used the chapter the first chapter called "garibaldi's question." at this time everyone knew who garibaldi was. they knew what he stood for why he was famous. he was the hero of two worlds in south america in north america as well as in europe. he was the first real global hero and by that i mean he existed in print and in images. everyone knew what he looked like. women adored garibaldi. they adopted the garibaldi fashion with large red blouses and sometimes military jackets and imitate thing garibaldi style. for americans garibaldi was an important figure, and they wanted him on th

you mention prime minister renzi and of the case of italy.e remind our audience that italy isn't the only country in southern europe -- is the only country in southern europe that has come out of the financial crisis without asking for any financial assistance from europe or the imf. and is says in the spring of 2013 when actually i concluded my government, again, the only country in southern europe which out of the excessive procedure because italy was back complying with the budgetary requirements. france does not yet to do so. therefore, italians, although we are working harder not to have the -- doing many sacrifices. manus: in your opinion, in your opinion, given the no vote and of the liquidity crisis we now have in greece will greece be forced out of europe? mario monti: i believe that every effort will be made on both sides to keep greece and the euro. by the way, a huge majority of the greeks do want to stay in the euro. and as i said the conditions for them to do so after these imaginative and a bit reckless move by mr. tsipras will

it is not a question of greece, is a question of france, italy -- ursula: northern italy does not one anglo-saxon capitalism, either. that is not what is wanted in northern europe. alan: it is more than that. france does not want a social europe for the same reason. they will find a means to save greece precisely for that reason. melinda: faye karaviti? faye: at the same time, no one is willing to admit that it is a problem for the eurozone as a whole. they keep advertising we are as strong as we have been before, we can face this, no problem with the country exits the eurozone, and so on. i'm not sure they are willing to put their views to the test. melinda: thank you very much. we will know more a week from now. many thanks for you being with us this week. see you soon.

>> i think if you were to ask that question of greece and italy, they would say absolutely not. be 150,000 this year 170,000 last year that 40,000 really isn't going to discover that. 60% of the refugees arriving in greece are srnz. theysyrians. like eritrea and other parts of the african continent. the numbers will keep coming and the pressure and burden of those two countries are going to keep increasing. i think it's hard to look and say it's fair and these enshrined principles of the european union which is based on solidarity. >> charlie angela from brussels thank you. >>> greece shores is now the mainlanding point for those crossing from the balkans balkans from turkey. >> they're marching by the hundreds. under the baking sun. on the roads and in the fields. step by step, until they reach the macedonian border and as they go along they form groupings that become bigger and bigger. >> translator: i didn't expect it to be so difficult but now i have to go on. i left everything behind. i'm doing this for my daughter. >> reporter: greece in the midst of its own financial cris

but with italy, everything sounds like music.s people like -- [ imtating italian language ] "bongiorno. bellisima. bella." you're just like, "everything is great." whereas every time, the few times you pass americans, it seems like americans on vacation are always looking for a member of their family, just this beautiful vista, and someone's like, "david!" [ laughter ] "where's david?" with that said, we were pretty far north. so we were near austria. so there were like 90% italian, and 10% germans. and i will say, you have -- as far as beautiful languages, you have italy way up here, and then you have english, and then there's german. [ laughter ] somebody's like, "klaus!" [ laughter ] [ imitating german language ] i'm really ashamed. we were -- we had wonderful italian meals every night. and i did -- one night, the waitress asked how they were, and i did -- i did this, and as i did, i was like, "oh, what am i doing?" i went -- [ laughter ] i've never done that before in my life. my wife looked at me like, "what are you doing?"

jon: the liquidity premium in italy -- is there one?st: i think the premier are very hard to detect. we have many equity investors who want to earn the liquidity premium. you have to assume you are not earning much. jon: back to the fixed income discussion, when you see commodities trading even lower the trade in q1 as oil crashed the deal now is we move closer to a rate hike in places like the u.s. and the bank of england. do i follow the rhetoric out of the central bank or do i follow the commodity market? guest: i would be more inclined to follow the central bank but i think we do have a demand problem globally. i don't think the conditions put us in the emergency room. i think that there are reasons why the federal reserve may increase in september. the fact that the asset story is a risk and why he behind the curve is still a risk. we are trying to put rates of the higher. jon: do we move higher with rates in september or december and does it matter at all? guest: it matters to a lot of people but september would be more likely for

it is still getting worse in italy. alix: and they will go to other countries and what does that do for italy? joe: italy re: has demographic has demographic problems. this is a bad trend for this country. strategist,global then -- ben. and we are looking at capital goods. joe: one thing we have talked about, the weakness of china and other economy. how does that fit into your call? >> we know that people are concerned and looking at the selloffs in the asian market and the contagion from that. ownership in china is not genetic for investors. -- dramatic for investors. rates andbe cutting we see a lot more room for that to come through. we will see a moderate pickup from here to the end of the year. and weare very cautious think that will their off opportunities. alix: why are you so optimistic when you're looking at the chart? >> the flexibility across the board. will have another 50 basis to take up, we'll have more fiscal policy, more policy about lending. the altogether and we have been cutting rates for some time.

military and popular tourist sites in italy. a live report from italy that's next.ble way to get your fiber. try phillips' fiber good gummies plus energy support. it's a new fiber supplement that helps support regularity and includes b vitamins to help convert food to energy. mmmmm, these are good! nice work, phillips! the tasty side of fiber, from phillips'. you know when you book a fabulous vacation cause the photos look amazing? (waves crashing, seagull calling) but you get there and find out it's far from amazing. (flies buzzing) it's almost like it was too good to be true? that's like when you switch wireless carriers and find yourself stranded with a frustrating unreliable connection. (oven door thuds) if your new network isn't working for you... (siren blares) come home to verizon and get $300. verizon. come home to a better network. grlt get new information that attacks and four marines murdered and a sailor. >> we are treating him as a homegrown violent extremist. we believe he acted on his own that day. we believe he entered the facility on his own. we cou

. >> we're off to italy where barbara serra is waiting. she has been talking with the eurozone leaders. tell us what you found out today. >> i've been interviewing the prime minister renzi. he's on his way back from attending the eurozone meeting. they're owed just under $40 billion. that's but the risk here isn't really one of economic contagion but political contagion. far left and far right anti-euro parties who now say they want a referendum on. renzi saying it was about restructuring in greece redevelopment, and making the economy grow. he said it would be very difficult to explain to the people of italy spain and portugal, who have to go through austerity themselves, that the greeks could effectively not have to go through the same things. they concede in a the greek government was pushed in the current situation. >> it will push the greek government because it's impossible to force and give the message to the greek people. so this is the question. the most important challenge today is to come back. >> one of the other main issues th

and italy off 2.6 now. portugal off 2.3%.et's look at the banking sectorer that is making most of it. 2%. 3s and 4 percents across the board. now, let's just bring in the last 30 days because i think this is very important to highlight. yes, over the last ten days the dax has declined sharply, 5.7% from this peak on the 24th. but don't forget this rally we had had about 2, 2 1/2 weeks ago, that was on greece-related positivity. that means over 2 1/2 weeks the index is basically flat. despite extraordinary improvement, markets haven't really declined that much on a two or three-week. and that is something to bear in mind as we consider whether the declines we're seeing today are significant or not. a reminder the dax up 1.4% now. this also highlights the same point, the euro overnight trading much more softly than it is doing now. just hit a session high. only off 1.2%. 1.109. the euro has been confusing the last few weeks but given that it's up much more sharply in the last hour. a 0.04%. a quick look at bonds. likewise, a sa

italy, spain and france at 10%.cept even 13% accommodations because we said, we need to help as well. we don't -- we know this will kill tourism and grace. 13% on accommodations and 23% on food or restaurants. i'm sure that the new negotiation will start as the basis of 13% but doesn't make any economic sense. the other side was fed up. there will be a way to push through the limit. i'm sure that a more logical negotiation would take economic factors into account as well not only political considerations as negotiations. we are very hopeful that there will be financial economic factors. guy: thank you for your time. the president of the greek tourism federation. back to you. jon: thank you very much. joining us live from athens. we have all angles covered. not just athens but frankfurt as the ecb is set to meet to discuss the consequences of the missed imf payment. pmi is focused, looking at an italian pmi coming in below survey of 54.3. a slight miss. the french pmi coming in better than the survey. the final readi

it is still getting worse in italy. alix: and they will go to other countries and what does that do for italy? joe: italy already has demographic problems. it has a slowing population growth. this is a bad trend for this country. ben is a global equity strategist. you are overweight emerging markets and europe. less so u.s. equities. welcome. joe: one thing we have talked about, the weakness of china and other economy. how does that fit into your call? ben: we know that people are concerned and looking at the selloffs in the asian market and the contagion from that. we do not see a lot of contagion. ownership in china is not dramatic for investors. have a authorities stimulus to the economy. they will be cutting rates and we see a lot more room for that to come through. we are seeing a trough in the economy. we will see a moderate pickup from here to the end of the year. people are very cautious and we think that will throw up opportunities. alix: why are you so optimistic when you're looking at the chart? ben: the flex

. >> i invite the representatives of australia belgium canada, ireland, israel, italy the netherlands, philippines romania, ukraine and vietnam to participate in this meeting. it is so decided. the security council will now continue its consideration of item two of the agenda. members of the council has before them documents 1-2015-562 the text of a draft resolution submitted by australia belgium canada france, germany ireland, israel, italy malaysia malaysia lithuania the netherlands, new zealand the philippines, romania spain ukraine, united kingdom of great britain and northern ireland and the united states of america. you now give the board to those members of the council who wish to make statements before the vote. i give the floor to minister of transport of malaysia. >> thank you. the draft restitution before the council today is being reviewed by malaysia in joining the team git on the downing of airline malaysian airline flight mh 17. it is on their behavior and behalf of my own delegation that i take the floor to explain our position. a year ago on the 17th of july the inter

. >> seth: you just got back from italy? >> i did.h: okay. >> where we had a great time. oh, i went into one of those freezer containers. have you ever done that? >> seth: go into a freezer container? not only have i not, i can't imagine why i would. >> they do in monaco. >> seth: why did you? [ laughter ] >> they told me that you get rid of jet lag if you go into this little anti-chamber, they take your blood pressure first, then you go into a room that's 170 degrees below zero. >> seth: now, is this right at the airport? when do you do it? >> no. in monaco. it's at a spa place. >> seth: gotcha. that might be one of the reasons why i've never done it. i've never been anywhere where it's offered. >> in a spa? >> seth: do you want to go into 170 degrees below zero? >> you have to stay in three minutes by the way. you walk around slowly. they tell you do not fall down because you'll be burned to death on the ice cold. >> seth: this does sound nice. [ laughter ] >> and the door -- and the door will open if you push hard they said. but it

it is now planning to offer the service in japan, spain, italy, and portugal later this year.ore international growth is expected as a result of that. we have seen blockbuster growth this year. you are looking at the s&p 500 ranked by returns for the year, in terms of stock performance. netflix is at the very top including today's games, up 124% for the year to date. more than double the second-best performer, electronic arts. it has been an incredible performance this year for netflix. obviously, continuing as the company came up with numbers today. ebay is the second-best performer in the s&p 500 today. sales beat estimates as it prepares to spin off paypal, which will become formalized as of monday. i said we would do the worst performers, let's get to one of them. sherwin-williams, down the most in six years. they cut their full-year earnings forecast setting the effects of a stronger dollar and also said he is seeing weaker and demand in some geographies. now a look at our top stories, janet yellen returns for a second day of questions. the fed chair delivered an upbeat m

it is more italy and france. when you do european stock locations, don't just buy all the german stocks because that is not going to help. emerging markets are underweight. it is going to hurt emerging markets. japan is all about earnings for the region. for me, these two, u.k. and u.s. are going slightly higher. financials is a different play. manus: what about the commodities? commodities down nearly 10% in china, the worst performance since 2011. the whole commodity complex, there's two ways to look at this. one is on the input sidet. . two is the threat to dividends. how do you create a portfolio for 2016? manish: look at the oils. if you think that nobody's cutting down production, then you will get the business from that. look in the sector, but don't buy the whole sector. even if you see the correlation based on the chart i sent yesterday, the correlation is down. you are not going to buy the market and get the return. you have to choose your market and choose your sector. the energy and miners didn't do v

italy... free trip to italy. well, i don't know.y interested in other cultures. [ laughing ] okay. yoyou know, i-in the past, your...dumbness has gotten in the way of just, like, a few things that i've wanted to do -- the book club, theater having cononversations. but i just want to say this one thing,?

that augers poorly torefor italy and portugal. david: anthony mentioned italy.e break we mentioned hough much that economy is black market economy. they signed on to the eurozone knowing they would violate a lot of same things greece is violates for years. the same is true with portugal. the same is true with spain. again we're just talking about greece, but doesn't this thing cascade into other countries? >> oh, absolutely and that's what the reality is if they let the greeks off the hook you will look at spain, portugal, italy, they will want to discount what they owe as well. this is really important that this gets done. there is a little saying called -- >> that is why you kick them out. david: i mean you say it is real important if it is done. and, scott, i'm wondering i think it is real important if it is not done. in some ways if you give them another excuse, another free ride, particularly now that you have president obama sending our trekker sy secretary there to argue on behalf of the greeks, greek socialists who haven't been abiding by rules i think t

rome you saw the mercury rise to almost 40 degrees in parts of italy. rome is going to be up to 38 for your thursday. heat is here in the eastern continental asia and maintained its intensity here in the, over the water, over the warm surface temperature. halola is still a typhoon and it's nearing the islands of okinawa. it may even move over the southern islands of okinawa prefecture. things will get very stormy on your friday afternoon, possibly making rain making effect across kyushu. we've already seen more than 600 millimeters across this area in the past few days. so no more rain is welcomed here. le weer he're seeing a cold front making its way across japan. there are going to be thunderstorms accompanied with about 120 millimeters of additional rainfall. down towards the south, again, great instability continues across parts of southern china and into the hong kong area i want to show you this incredible image coming out from there. this is a massive tree that fell onto a very busy hong kong street. due to the severe storm, it caused damage to s

they don't steal in italy? in italy they steal only once. you want a beer? is your wife here?but she won't bother us. sidown. open your pants. who is it -- oh! hello, marco. what a nice surprise. buongiorno. yeah buongiorno. that's italian for "beer, marie!" right away, frank. would you like it in a bottle over your head or in a can somewhere else? scusa, marie, but i come to see you. really? my daughter stefania says you're a great teacher of piano. with respect

yield higher in germany, lower in italy. brent is up 1.24%.ll round of the markets and tell you everything you need to know. a busy day ahead, not just for greece, stay with us. we are back in two. ♪ jonathan: good morning and welcome back. that is almost it for this hour coming up, a busy one. at noon the bank of england rate decision. all 41 economist surveyed expects rates to remain at a low. they do not expect a rate proposal to come until december. look out for the imf economic outlook revisions. the greek proposal deadline will be at 11:00 p.m. u.k. time. the final deadline apparently is sunday. european leaders will meet to assess the proposal delivered tonight, and then apparently if they cannot agree, grexit. another deadline here in europe, apparently it is different. let's get to mark barton who has been digging into the markets all morning. he will bring you the markets throughout the morning. mark: i have ignored the oil slumped in the last five days we have been so fixated on greece and china. to be honest, i have ignored the slu

not just in italy, spain has the second highest rate in the eurozone, and suffered painful guts. here an anti-austerity party has seen support sky rocket in the polls. empathy is high. despite the fact that it's a disaster, they are right, they are sick and tired of the austerity. confirmed austerity has not worked. >> this is a defining moment for the us open and the european union. the break government angered leaders by holding a referendum. after years of struggle. other disillusioned europeans feel they want their voices heard soon. >> now, one her honour pass died after a sail boat sank in the asian see between greece and turkey. a video released by the turkish coast guard shows about 18 migrants were rescued. there were 37 on board when it capsized. >> the australian government merged as immigration department with customs, forming a force, focussing on stopping unwanted immigrants particularly those arriving by boat as andrew thomas reports, the country's immigration rate is quite high. >> reporter: griffith a rural town, an 8-hour drive from sydney may not sound like a m

the animals are struggling to cope with the sweltering heatwave that has hit italy and southern europe for the past three weeks. humans are not coping so as well either. experts say june was the hottest on record, and 2015 is on its way to become the hottest year ever recorded. >> the length of the heatwave in italy and europe is extraordinary. it started in july and has brought temperatures close to 40 degrees. but because of the high humidity it feels like more than 50. we don't know when it will end. >> fortunately there are many ways to cool down in roam. one of the best ways is to take an unplanned bath and shower in one of the many showers here. >> in serbia locals escape the heat by dipping in the mineral spring. while in spain locals struggle to cope with the third heatwave of the summer. back in rome the civil protection agency continues to bring in water every day. but that only offers a temporary respite from the heat. even at night temperatures do not go under 28 degrees. the only way out of night sweat is ceiling fans and air conditioners but most shops have long run out o

the periphery of italy down 2.6, portugal down 2.9. how much of a surprise that no vote out of greece was were and what it meant to greece's future the size of these declines relatively muted. settling after repaired some initial losses. i want to have a look at the dax over the last 30 days. yes, over ten days the peak on june 24th we have fallen some 6% off greece issues. but that ignores the rally we saw 2 1/2 weeks ago. again, relating to greece and since the last two or three weeks, we are basically flat on the dax. so european assets managing to ignore the crisis despite the headlines. and the euro down 2.8%. but pared losses from the open today. >> wild fredfred, thank you. we're watching this closely itself. we're trying to figure out the reaction from the nations at this point. this may be the greek people speaking. but no matter what the german leaders want to do secretly 95 got a population that they have to deal with too. trying to allow both of these sides, as you mentioned, before to save face with contingencies is going

the theme for italy was the renaissance. takakura wants the garments to have elements of both tradition and today's world. 7 this 75-year-old took on the challenge. he uses wagashi or the technique of color gradation to bring out the landscapes. he's an artist with more than 50 years behind the brush. >> translator: i'm happy with my work on this kimono. i'd like people to enjoy what the color gradation gives to the design. >> reporter: now, takakura's moved on to obi, the belt. he spoke to the top maker in kyoto. the obi will be an expression of modern italy. >> translator: i want that italian car red. >> reporter: it was an unusual request for the manufacturer. the metallic red doesn't exist in traditional japanese kimonos. the designer also suggested weaving in some glitter. for the headlights they used thick gold and rainbow threads. it gives some glimmer and creates some depth. it took three months to make the kimono and obi. you can see a town through the cathedral arch. the gradation gives a 3-d effect. there's even a

jessica, angela merkel has reportedly be getting some support, not just from italy today but also otheruropean ministers. jessica: yes, certainly the frustrations are felt by angela merkel and the german parliament towards the greek government. it is felt by these people. angela merkel, as you said, did meet this afternoon. there could be no negotiations with greece and with greece and germany head of the referendum and she repeated this after her lunch meeting with renzi and he extended his sympathy to the greek people, but he said there would be time for negotiation further down the line. angela merkel pointed out that the country itself suffered from economic words and had to put in place tough reforms. she said this more diplomatically than renzi had said. in the afternoon, the speech she gave at berlin university, it was said that italy had paid their taxes. angela merkel said she has kept the lines of communication with the greek prime minister open and she said there will be talks after the referendum if this is what the greek people want, but whether these lines of communication

the other countries in the same situation - ireland, portugal, italy and spain have turned the cornerey are getting growth, debt ratios are coming down. indeed, the burden of the greek debt in the plans is about the same as the burden in those countries, you have to pay about 4% of g.d.p. in interest. and so as i say, i think it's an unnecessary deterioration of the situation. it got to the point now, because of this animosity, that you have the leaders of spain and italy saying look, a no vote is a vote to leave the euro. you leave the euro, and suddenly you have a huge depreciationiation of the currency, the drachma, the private businesses get in the bankruptcy, they owe debts. i think the situation is worse by politics in recent months. >> but politics, i mean, to get into the euro, you had to have elected governments. these were all functioning demack rahsies, and syriza, that -- democracies, and syriza the party in greece is a backlash to the parties that got them in in the first place. you can under why the greeks did what they did, to some extent? >> to some extent, yes, but th

. >> not just italy. spain has the second-highest employment, and suffered painful cuts in public spending. here, an anti-austerity party saw its support sky rocket in the polls, and empathy for the greeks is high. >> despite the fact that it's a disaster, they are right. they are sick and tired of austerity, the confirmed austerity has not worked which is more or less what happened here. >> this is a defining moment for the us open and the european union. the greek government angered many e.u. leaders by holding a referendum for its people. after years of economic struggle other disillusioned europeans may feel they want their voices heard too >>> pakistan says that peace talks between afghan officials and the taliban ended. it was one of a high level contact between the two parties. >> although it is not clear as to who was representing the afghan taliban, the pakistani foreign office issued a statement saying that the meeting between representatives of the afghan taliban, the afghan government in the p

and a terrifying terror plot in italy. isis terrorist plotting to attack a u.s. that u.s. u.s. military presence on it it courtney joins us. tell me about this. >> yes greta. well there were two arrests made this morning. one was a man from tunisia 35 years old. another guy who is 27 years old. both of them live about an hour outside of bilan. a wealthy area. both of them have jobs with contracts. have families. were very much part of the community. that was the big surprise. last april investigators started looking into them. the pakistani -- actually, the tunisian opened the account and it was called the islamic state rome. they would basically send out threatening twitters and messages written by hand in french arabic and italian. held up in front of historic italian monuments -- >> and i think we have lost courtney walsh. it's too bad. because i wanted to know if the two who had been arrested in italy in connection with this terrorist plot, although we are told it wasn't operational. i would certainly like to know if they have any friends or any others. a dis

it seems that in italy as in the rest of europe the only way to weather the heat wave is to keep a coole rest of the summer al jazeera, rome. >>> much more on our stories on our website, the address to click on to is al jazeera.com. get out of the car, i will light you up get out, now. >> new video shows the arrest of a woman in texas days before she was found dead in a jail cell. now officials there are insisting the video was not altered. further in missouri they hire a new interim police chief just before the first anniversary of michael brown's controversial death and john kerry heads to

that you could effectively by a country like italy because it would have liquidity over a country like portugal. are they a part of the consideration when you look at periphery? >> that is a big advantage of italy but if you trade those markets on a relative value basis it is even good sometimes you're sure did. the short leg is very liquid soap the liquidity in italy is good for trading strategies from the direction you want to play the market. jon: we began by asking what it would take for the ecb to buy greek debt. what would it take for you? from our more conservative accounts i would not expect to fight greece anytime soon. for the more conservative retirement accounts we actually bought a little bit of greece when things were looking better. it depends on an account acis and that is hard to say. we need that and that is very price based because a week ago the headlines good but if you look at that rising terms we think pessimism has got to an extreme. jon: thank you very much for joining us this morning. coming up on the show, gold takes a dive. we will take you to the biggest dr

i'm sure they will get as good as italy in 10 years.top making different kinds of pizza. pizza is italian and let's not forget that. for those listening on bloomberg radio, manus: china's benchmark is it's worse since 2007. francine: bank bonanza. ubs smashes profit estimates. manus: drug deal, teva is buying the generic drug business for more than $40 million. good morning to our viewers in europe and a warm welcome if you are waking up in the united states of america. this is "the pulse." china is one of the biggest stories on the radar today. the stocks tumbled. caroline: these are phenomenal moves. we are looking at how much we sank in one day on the shanghai copper. -- composite. we are off 8.5%. that means $500 billion. wiped out in one day in terms of market eluate should. that is 3 trillion wiped out at the moment. we are back to worrying about whether it can be stemmed or healed the government. think of the dramatic steps the government has already made. 1400 companies were halted in terms of training. you had major soul -- sha

i am talking about italy.o you think the ecb will have to be able to cut the pile down for others? john: there is a fine line in europe between reforms but also political reforms of the governments. that said, you're right, with the level in europe and the kind of growth potential in europe we have to have a active ecb in order to make this debt sustainable. jonathan: are you thinking about getting back in? john: i think we are looking at it. they need to be selective. jonathan: up next, john it -- janet yellen softens up the rate -- market for a rate hike. ♪ jonathan: good morning and welcome back to "on the move your code --. " he dax -- the dax added almost 8%. switch of the boards and let's get straight to fx, euro sterling down by a 10th of 1% that is a november 2007 low. holidaymakers happy, is mark carney happy? that could be a headache with inflation running at zero. the german bonds is up. italy is down by two basis rights. -- point. that is the fx market, the bond market, the commodity. let's go to c

look at italy. the lowest price ever for the italian bank.greater exposure to italy's sovereign debt than competitors. rolls-royce cutting its profit guidance and holding a share buyback reserve cash. lendertuguese lindner -- another example of dropping on fear a grexit could hurt local bonds. angela merkel is traveling to paris to meet with monsieur hollande. mark martinyou, with the latest on european financial markets closing now. i'm back in athens with guy johnson. standing beside me is the former deputy prime minister, now chairman of capital partners and the investment banking firm in greece. you have also been a deputy foreign minister. explain what yesterday's results means for the country. >> i voted yes, but i am pleased with the final outcome. gives our prime minister the strength and self-confidence and full responsibility to strike a deal. today, we had the unprecedented move of all the heads of political parties in greece sitting at the presidential office and expressing support to the prime minister, with the exception of the

also for italy, 2.7%. the cost of risk is going down. and following the bloomberg exclusive information we had yesterday regarding the cib reorganization -- bnp is indeed confirming that it is reviewing it, trying to make it more efficient. however, he will give us more details about the plans by the full-year results in february. back to you. anna: thank you. caroline conan in paris. the trio of creditors meets in athens today. alexis tsipras is trying to stamp out the opposition in order to secure a bailout. meanwhile in washington the imf reiterated its stance in the greek crisis -- no debt restructuring, no bailout. let's get to hans nichols in berlin. hans, good morning. what has tsipras been up against? hans: well, he faces a rebellion in his own party. he stared them down t draedared them to challenge him. here is what he said -- "whoever thinks another government and another prime minister could do better should spoke up." no one spoke up. here's the important thing -- they are going to have a party conference in september, to vo

across the board like bnp paribas, or the unicredit in italy. and bonds as risk on passion, the core in germany rising. close to 1%. 1.92 we've seen by the likes of spain and italy. a quick look at rates, the euro has been interesting, it did pop up as the deal was announced, having been slightly down at the open. since people have digested the deal we've seen it sell off quite significantly. down 0.8%. overall, the sentiment is positive. >>> coming up on "worldwide exchange," oil trades higher over hopes of iran's deal. how close are we to an historic agreement. we're live in tehran after this break. >>> oil is trading lower amid expectations of a deal with iran on its nuclear program. these talks continue in vienna between six world powers. reports suggest an agreement could reach as much as $100,000 a day on to the market in the short time. let's go live in tehran with the latest for us. ali. >> reporter: well wilf it looks like the two sides are almost ending what could be an historic deal for almost 13 years. they've been up and down but th

to reach the shores of greece and italy. coastal countries are overwhelmed with the unseasoned flow of migrants. greece says they are unable to cope with the numbers. the refugee agency is sounding the alarm. >> it is the minimum assistance that human dignity requires. >> they want to be more evenly distributed about the eu. germany is ready to take in a large number of migrants he's as. that includes refugees in need of section. as your up continues -- as her up continues, they demand this what solution. -- as europe continues they demand a swift solution. brent: we'll see how traders are responding to china's efforts. and a nasty fall. we will have more pictures for you straight ahead after the break. stay with us. brent: this is dw news live in berlin. our top stories. prime minister alexis tsipras is trying to keep greece inside the eurozone. plans announced to launch a currency pool and their own development bank. the bricks group say that efforts are needed to combat global instability. more about the stock market. the