kate moody reports. rs thousands of mourne carrying the body of mohammed abu khudair shrouded in a palestinian flag. israeli officials handed over the body on friday after conducting an opt out see. the corpse was said to be badly burned. the strut families said the teenager deserved a fitting goodbye. >> they wanted to give us the body last night and we refused because he could not bury him at night. i said, i must hold a big funeral for my son in which the crowds can ours eight -- can participate. i refuse to do it at night. only during the day. >> tensions have been running high in jerusalem ahead of the funeral. violence broke out in an eastern neighborhood. police fired stunned and dates -- stun grenades to disperse palestinian protesters. they're also crowds at a mosque were hundreds of muslims want to prey on the first day of ramadan. palestinians protested what they believed was a revenge killing following the disappearance and murder of three israeli teenagers also buried earlier this week. >> k

kate moodie joins me with a big shakeup at the vatican bank. a the vatican has announced french financier as they continue to clean up their business operations. he takes over among mass restructuring at the bank. this is after allegations of money laundering and tax evasion. out is the german industrialist who was appointed last year to clean up the vatican bank. in is the french investment banker chosen to carry on the good work. >> this is a great responsibility i have excepted and i do so with great humility, to help the holy father and the church increase their work towards the poor, and the preservation of the faith. >> he has pledged to stamp out tax evasion -- and last year the senior accountant was arrested for helping friends smuggle millions of euros into italy from switzerland, as well as claiming a new management team they have separate pensions and asset management funds, leaving the bank to focus on payment services for religious orders. the new leader will report directly to the pope himself. >> our ambition is to become somethi

i'm joined by kate moody in studio. you've been following the air show through the week and one of the things the industry is looking for is improved technology to track airplanes. >> it was a timey focus in light of recent events, the crash on thursday evening in eastern ukraine was a chilling reminder of the mystery of another malaysian airlines flight which disappeared in march. radar lost all trace of the flight. authorities are still no closer to finding an explanation and the aircraft industry is desperate to avoid a repeat of that situation. we have a core responsibility's report from the air show. >> at the end of this corridor in london lies a network of radar operations, home to 11 satellites. >> this one covers the americas. this one, the middle east. >> that enablings them to track its clients in real time. an assistance recently offered for free. >> we've proposed to take the existing position reports that have been used across the industry globally and we've offered to make those position reports flee free

kate moody joins me. >> thank you. >> we are going to start with news in a shake up of the global finance order. emerging nations joining to compete with the i.f.m. and world back. bris.is they have confirmed they plan to create a new development bank. the bank will be based in hang high, but the first presidency will go to india. t will have initial captain of $100 billion. the idea is to provide a counterbalance with banks like the e.m.s. brazilian president said the banks should work on reforms to better represent countries like her own, but the new bank may be a better representation of the world's order. >> we find that the main global and political institutions have lost their power to represent and their effectiveness because they have not adapted to the new political and economic eality of today's world. >> thaddeus young has been elected head of the european commission, and he has already set out ambitious investment program to revive the economy. he has committed 300 billion euros to boost industry and broadband networks. he is trying to convince two groups with opposing ideas o

we're joined in the studio by our business editor kate moody.et me just start by asking you if you would buy zoo beans at a thousand a pair? >> i'm already saving up for a pair but i want that one done by the bears. they look really intense about their work. >> they did. very serious those bears. let's start, shall we, we business impact of the football world cup on the brazilian economy. >> exactly. opinion polls were showing the majority of brazilians thought the world cup was a drag on their economy, the country spent about $14 billion on things like stadiums and other infrastructure to take the temperature, i spoke earlier to eve, an economist at the credit insurance company coface. i asked him whether the world cup hurt or hurt the brazilian economy. >> as you properly said, there will be a hangover effect. in fact brazil will be back to its reality, poor infrastructure, problems of inflation, problems of cost of labor, so in fact all of these problems have not been solved by the world cup. >> now growth has become coming down in the past t

kate. >> so, you know i love watching big insurers amid this big obamacare drama, aetna reports before the bell tomorrow morning, moody'st drama insurance industry has been downgradeed but the stocks have been doing great, i think aetna will do well. charles: matt. >> earnings report tomorrow, looking for a loss about one cent, revenue $2 83 million, looking at user world, 6%. i think that stock gets hit. charles: don't say it i am long twitter. >> time fo mine, i am rooting fr good economic data this week, i want the fed out of the picture. in a nation that cannot handle any pain, the ex is tapbgs of fed is atance of thefed it is ae not on your side, we had a fantastic show, thank you for watching, a lot of stuff to conservative in the morning, earnings respect but right now lou dobbs will take you to the next hour. lou: good evening, obama administration tonight no longer trying to hide its disdain for israel's campaign to defeat the radical i islamist terrorist grp hamas, senior presidential aides to state department all today, criticizeing prime minister netanyahu, and his government. despite the fact that a delicat