monty frances is there with more. monty? >> reporter: good evening. the fire crews are gone. the police have taken over the investigation because of what the fire uncovered, an indoor marijuana growing operation. police tracked down the owners of the building. they have been unable to open it to the person who leases the back of the warehouse where the pot farm was discovered. so far, no arrests were made. the fire was reported at 4:00 this morning. flames shot 20 feet into the air. it took several hours to get the flames under control. they found 200 pot plants, a large filtering system and electrical system supporting the grow operation. they believe the fire originated on the second floor. at this point, they are not sure if it had anything to do with causing the fire. a business owner said the owner of the warehouse deals in restaurant supplies. a neighbor says she never noticed anyone coming in or out of the warehouse and assumed the equipment and pot plants were brought in under the cover of night. police are waiting to execute search warrants to go in, remove plants an

monty? >> reporter: good evening. the governor releases the revised proposal on monday. it will mean cuts to health and welfare. the short fall has grown to $16 billion. back in january, the budget short fall was $9 billion. as for why it's grown so much, he said tax collections have not come in as expected and the economy is not growing as hoped. lawsuits blocked billions of dollars in state cuts. this means even if voters approve the initiative. the revised budget will contain deeper cuts that they didn't plan on in january. >> this means we will have to go much further and make cuts greater than i asked for at the beginning of the year. we can't fill a hole of this magnitude with cuts alone without doing severe damage to our schools. >> reporter: the governor says if the measure passes, it would protect schools from cuts. they would raise $7 billion by increasing the income tax on people who make more than $250,000 a year. the plan would temporarily raise the state sales tax by a quarter percent. we'll see what programs are on the chopping block when the governor make

monty francis joins us from the valley medical center with the details, monty? >> reporter: this is what's called a potter's deal uncovered here from the 19th century, so the relatives coming forward are from three generations down the line. even so, it's emotional for family members who say their loved ones were forgotten. anna died in 1915. she's seen in this photo wearing a black dress. her family believes she is among the 1,400 buried in a massive potter's field recently unearthed on the grounds of valley medical center. >> my grandmother always knew her mother was buried there. always knew. she died at the old santa clara valley hospital, that's where the pauper's grave was. >> reporter: the county historian says people have believed for a long time there was a potter's field here, but it wasn't until part of the grave site was unearthed by construction crews earlier this year that anyone knew exactly where it was. today, a santa clara county superior court judge ruled that the county can begin the process of identifying and removing 100 of the 1,400 bodies

monty francis is outside the fox theater with new information for us tonight. hello, monty. >> reporter: the biggest event will be held here at the fox theater. it will be the most affordable. if you want to attend any smaller events you'll have to shell out tens of thousands of dollars. >> that i think same-sex couples should be able to get married. >> reporter: in the wake of that announcement, president obama came to california ten days ago and raised a record $15 million in 1 night at a fund raiser held at george clooney's los angeles home. the president has also come to depend heavily on the bay area for millions of campaign dollars. in redwood city, signs are already posted downtown warning of heavy traffic and scarce parking this wednesday when the president rolls into town. >> i think he's going to make a killing here in california. given what he said last week. >> reporter: the president's visit on wednesday includes a high-priced dinner atherton at a business round table in palo alto. tickets for both of those events cost $35,800 per person. then the

monty has been trying to reform italy, reassure markets, and keep the jrmans happy. if he succeeds, ae charts a path out of the crisis for other countries. then iran. it's in dire economic straits for a very different reason. we have another exclusive. if one with iran's finance minister about just how crippling u.s.-led sanctions have been for his nation. next up, a conversation with paul, the biggest question in the world today is whether to spend or whether to cut. krugman is the leading voice saying stimulate. i'll ask him to defend his views. all that plus superstitions in the race for space. but, first, here's my take. everyone is worried that greece might default on its national debt. that's really not news. by one estimate 180 years since greece gained its independence in 1832 the country has been in default or restructuring for half that period. the news is that this time germany is willing to bail greece out. throughout the euro zone crisis it has been conventional wisdom to regard the germans as narrow-minded, ungenerous, and dog matticly wedded austerity

monty francis is in san francisco with the story. hello, monty. >> reporter: good evening.acco companies are outspending the other side almost 8-1 and many in the medical field say the campaign against prop 29 is misleading. >> not one penny goes to new funding for cancer treatment. >> reporter: this ad funded by the tobacco industry and the no on prop 29 campaign led governor jerry brown to remove this doctor from a state board because she took a stance in this ad almost no one in the medical field appears to support. she says none of the money goes to cancer treatment. that's because it goes to cancer research. >> i work with real doctors. we have seen those on with white coats telling a story and they're not accurate. >> reporter: david viniciano is ceo of the california division of american cancer society. he says the no on 29 ads are deceptive. >> we wrote the proposition and we know what's going to happen. it will save more than 104,000 lives, prevent 228,000 kids from smoking, and provide critical, life-saving cancer research. >> reporter: prop 29 is a proposed cigar

he used to produce monty python specials. oh, and he hates mimes. lorne hates mimes. the bulls up a chair and give him this poem with 1100 jokes in it. he opens it. he reads the first joke. egos, u -- he goes, uh-huh, good. then he closes the book. i wrote 1100 jobs over two days, and he reads one joke. i wrote a jokes and the post office was about to issue a stamp commemorating prostitution in the united states. 10 cents, but if you want to lick it, it is a quarter. [laughter] he said, good. good. he said, tell me, how much money do you need to live on? i said, well, i am making $2.75 an hour at the deli. match it. [laughter] he said, well, tell me a little bit more about yourself. acted it to mean before he committed this kind of cash, he wanted to see what he was buying. i said, with the allen is my idol. i love monty python. but if there is one mime on the show, i am out of here, and he gave me a job. [laughter] that was my great. ultimately, hear i am, having written a novel with my childhood hero dave barry. [applause] >> dave barry and alan zweibel, they're not

hello, monty. >> reporter: good evening. back in january, california was grappling with a $9 billion short fall. now the governor says that number has grown to $16 billion. the governor released his revised budget proposal on monday. it's expected to include devastating cuts to health and wellness programs. if voters approve the tax initiative in november, the revised budget will contain deeper cuts the governor did not plan on making. in this video, he explains why the budget short fall has grown by so much. >> tax receipts are coming in lower than expects. the federal government and courts blocked us from making billions in budget reductions. the result is we are facing a $16 billion hole. not the $9 billion we thought in january. >> reporter: the november ballot initiative would raise $7 billion by increasing the income tax on people who make more than $250,000 a year. the plan would also temporarily raise the state sales tax by a quarter cent. if it passes, it would help protect schools and public safety from further cut

. >> mario monty and eu president currently speaking in brussels.ll keep our eyes on any comments coming out of that. >> also getting comments from ecb saying he e. favors as redetermine shop fund. this is one to watch, this idea of a redemption fund. a step towards common europe bond. but european central bank members speaking in support. outgoing policy maker reinforced that any exit by the eurozone member would have devastating consequences both for the uk and for the u.s. >> and the bank of england officials also told cnbc that further qe may not boost growth. spencer dow says it's important to look at more than just the demand side of the equation. >> when we see the weakness of growth,ic we will need to ask ourselves what does that reflect. is it purely weakness in demand or supply, as well. is there more qe if we were to see the growth come out a lot weaker than expected. may be part of the answer, but only part. when you look at the weakness of growth in the round and 2340d immediately as a demand problem that can be solved by doing more qua

nbc bay area's monty francis joins us at antioch this evening with the story. >> reporter: well, raj,he due trow sisters have filed a civil lawsuit against the city of antioch, including the police department, also named as defendants are contra costa county, child protective services and a local church. the smiling faces of the girls in this photo do not reflect what was happening behind the closed doors of this antioch home. for two decades the six dutroux girls were sexually molested and raped by their four. bruce dutro is serving life in prison for a long list of sex crimes and his wife priscilla is serving 15 years for facilitating the abuse. >> it is sickening to know that that is occurring. >> reporter: this attorney represents the dutro's four biological daughters and two nieces under the dutro's legal guardianship. the lawsuit claims in 1995 oldest daughter went to a pastor at cavalry open bible church in antioch and told him about the abuse. >> instead of reporting this abuse they directly called the molester, the deft, the father, and told him, and that's how this injustice

. >> the weather has simply been perfect for anybody celebrating with monti.l it stay this nice through the rest of the week? [ female announcer ] with xfinity you can always expect more. like more on demand shows and movies than ever. and more ways to discover them too. plus more speed from america's fastest internet provider. so you can run more devices at the same time. ♪ feel a firework ♪ [ female announcer ] and best of all, it keeps getting better. no wonder more people choose xfinity over any other provider. ♪ love can be so mystical ♪ ♪ ♪ >> we really lucked out with this weather. >> yes. >> the clouds will stick around at least until midday if not late afternoon and evening on tuesday. and the rain will hold off. southside right now, the clouds are here. they will state into the overnight hours and into the day tomorrow. brain will happen later on might predict that run tonight and into tomorrow morning. look how hot it can get. 95 degrees set back in 1881. take a look at what is going on outside right now with the temperatures. temperatures across th

italian prime minister mario monti traveled to the united states for the g8 meeting at camp david and the nato meeting in chicago, and he joins me now in washington. >> welcome. >> pleasure to be here. >> let me ask you, prime minister, first we'll talk about italy, but first i need to talk to you about greece. there is in a sense a bank run taking place. greece is going to be unable to finance itself unless there is some kind of massive help from europe. can greece stay in the euro? >> i think greeks want to stay in the euro. not all greeks are ready to do whatever is necessary to stay in the euro, but i think as we approach the 17th of june election date, the feeling in greece that it's crucial for their country, i believe also for europe, but certainly for their country. it's crucial to stay in the euro with political programs and minds on putting together a collective willingness to do so. certainly, europe cannot, of course, abandon or even substantially undermine and reduce the commitments it asked of greece in order to help it. i think an equalibrium will be found. whatever is

that, that came out monti and holland. i'm expecting more headlines. also we have the chinese/pmi to worry about, and obviously initial claims tomorrow. toll brothers have positive statements. we saw philip morris to have multinationals tapping into that market, because there's a flight to obviously risk assets, in terms of paper that they're looking to buy, that really is helpful to companies like caterpillar and bhp. >> you bring up a great scoop, john. thanks for that. it seems at some point something's got to give. when would that bazooka come? >> the market typically forced all the big moves, every single time. the politicians behind the market action. the euro bonds is a real issue? discussions. the french parliamentary elections, so you don't get the big ones until after the 17th. we're really in a crisis in greece, where we need attention to the banks. i know there's talk of some -- the market could push that forward sometime in the next three weeks. >> we'll be watching that. certainly this market is trays, larry, john, good to have you on the

prime minister mario monti has promised to do all that he can to help this twice-stricken region. >> i would like to assure everyone that the italian state will do everything we must do and is possible to do in the shortest possible time to guarantee -- what is a special and productive to italy. >> after two major earthquakes in the past nine days, the feeling is here that the earth still has not settled. there was a major aftershock some hours ago, and going into the night, everybody will be braced for the possibility of more aftershocks. bbc news, in northern italy. >> you are watching "bbc world news america." still to come, policy in the middle east. israel is accused of ethnic cleansing as it knocks down palestinian homes and businesses that they say were built illegally. as china's economy continues to thrive, so does the building boom. cities such as beijing are now attracting the top architects. some believe china is sacrificing too much of its heritage. we have a report. >> chinese cities are constantly changing. as this economy has boomed, its guidelines have -- its skyline

the first to arrive, italy's mario monti, a low-profile technocrat who took over from a populist politician. his job, to stop italy from being the next in the euro crisis. >> we can now go live to our correspondent in madrid. tom, we have just been hearing that the focus of the crisis moved to madrid overnight with this downgrading of many of spain's banks. when spaniards went to work this morning, did you get a sense of crisis? what did the government say today? >> it is very interesting. you do not see the crisis in spain. you have to go looking for it. the banking crisis, you do not see that. there are the troubles of bankia. obviously, share prices jumped back up again. there is some reassuring signs today. we expect the government will announce a restructuring plan ia.t week for bank it has brought in lots of reforms to try to reform the amount of money banks hold to try to cancel out the losses from the property market crash. the banks made a lot of that possible. they're still a lot of uncertainty about the position of the banks in the position of the spanish government. >> and terms

monty has been trying to reform it

live in san francisco, monty francis. >>> dozens of homeless mothers celebrated mother's day in style. 25 moms living at the hamilton family center had their hair and makeup and nails professionally done. volunteer stylists and makeup artists from benefit cosmetics helped the moms look their best. many say it's a day of star treatment they will never forget. >> very special. i don't get pampered, i i do a lot for everyone else and never take time out to do for myself, never. finally getting a chance toe d it, awesome. >>> after the pampering, they were whisked away at the sir francis drake hotel for a special mother's day lunch and show. >>> motherhood is full of obstacles and joys but there's no doubt moms of children with cancer face another level of challenges. every mother's day, the american cancer society and great american theme park team up to give moms and families what they call a day off from cancer. more than 600 families invited from across northern and central california. the santa clara men's baseball team was among the celebrity athletes on hand to take photos with the

tonight's lottery winner, the new orleans hornets represented by coach monty williams.y ever expected to take home anthony davis >>> flip sawnder, now a celtic advisor checking out celtics. game 2. dwyane wade's pass stolen by rajon rondo. 30 points at that point for rondo. paul pierce comes off a screen and hits a jumper to put the celtics up 5. final seconds right now. this game is tied at 99. second round of the french open, venus williams lost to the third seed 6-2 and 6-3. we'll be right back. don't go away. does your phone give you all day battery life ? droid does. and does it launch apps by voice while learning your voice ? launch cab4me. droid does. keep left at the fork. does it do turn-by-turn navigation ? droid does. with verizon, america's largest 4glte network and motorola, whatever you want to do... droid does. >>> as you probably already know. tonight is my last show here at fox 5. i'm leaving to take a sports job in san francisco which is where i grew up, home. but washington, d.c. has become my home. for the past 15 years, i have sat at this desk five

hello, monty. >> good evening. that's right. tonight mark zuckerberg changed his facebook status to married and tonight here at his home just down the street, the wedding reception is still under way. >> fewer than 100 guests came to mark zuckerberg's house in palo alto saturday afternoon for what they thought was a party to the celebrate priscilla chan's graduation from medical school. instead it was a wedding in his backyard. these photos show the happy couple after the ceremony. a person authorized to speak on their baffle says chan's ring featured a simple ruby. at about 8:30, the lead singer of green day billy joe armstrong was seen leak his house. he had his guitar in hand so we assume he was there to perform. as it grew later, guests danced the night away to '80s pop songs and neighbors didn't seem to mind. >> no, it's cool. everybody likes to party. why shouldn't zuckerberg party? >> the marriage announcement came where else but on facebook where zuckerberg changed had i status to married to priscilla chan. they met at h

with german chancellor angela merkel, french president francois holland d hollande and italy's mario monti. the leaders will meet again next month in los cabos, mexico. >>> the biggest trade insurer has pulled its coverage of shipments to greece because of the uncertainties. the country's heavily dependent on imports. officials said they will not underwrite deliverez for the foreseeable future. analysts with the france-based insurer say they are worried about whether greece will remain in the eurozone. greeks will vote next month in parliamentary elections and many oppose austerity measures necessary for an eu bailout. the "financial times" is reporting another french trade insurer has also stopped its coverage. >>> japan's industrial production grew in a second month in a row due to strong auto sales. the japanese industry ministry said on thursday industrial output increased 0.2% from march. the growth is due to the increased production of fuel-efficient cars as well as related parts and materials. the government has offered subsidies to buyers of eco-friendly vehicles. the ministry expe

you have a trillion dollar economy under mario monty and trying to put together labor reforms and othernd getting a lot of push back from italian politics. they may look at what's happening in greece and say we don't want to go there. we do not want to become third world countries inside of europe. >> well, we should not believe or think that we're going to be disinterested observers to this process, we're going to get hit. europe has to go down before it can go up. probably on the brink of recession right now and france's economy grew not at all. germany only .5%. those germans western european banks hold greek debt. if that greek debt flattens, they're going to have the credit urines a-- and probably effect some of the american banks. >> barack obama and secretary geithner say europe should use the tools they have, the term of art, to solve the problems. they have them there, solve it. what does it mean. >> if you want to do a stimulus, an obama type stimulus-- >> more government spending. >> trying revive growth through inflation. >> that's the european central bank, also, inflating.

nbc bay area's monty francis is in san francisco for us. >> reporter: good evening. one woman we talk to called this a double whammy. she is already fearful about losing services to state budget cuts and now she has something else to worry about. >> this is just another drama with the state. >> reporter: michelle from oakland was shock to learn her personal information, including her social security number, may have been compromised by a security breach. >> is my social security number out there, too? is all my information about my medical conditions out there, too? if that's the case, shame on the state. >> reporter: she is bound to a wheelchair and depends on in-home support services to live independently. she said she is also worried the person who cares for her along with 700,000 other in-home providers and recipients statewide may be at risk for identity theft. >> it scares me. because my workers information is possibly out there. >> reporter: the breach happened earlier this month when hewlett-packard which handles pay roll data for in-home service because ship

monty francis has the details for us. >> reporter: good evening, the at a back co-companies are outspending 10-1 and many in the medical community say the campaign against prop 29 is decepti deceptive, phillip morris and reynolds spent money to defeat the measure. and the lance armstrong foundation has raised little more than $5 million. prop 29 would impose an additional tax of $1 per pack of cigarettes, supporters of the measure say that tobacco companies are being deceptive by running ads that say no one penny goes to new funding for cancer treatment. that is true because the money would go to cancer research and not treatment. >> tobacco, of all of the things in this country that are sold and market, if you follow the directions perfectly, they will kill you. if you follow the directions, it will kill you. that's why we have to vote yes on prop 29. >> when we have so many other things that are not being funded like health care, services in the state of california and education, and we believe that money should if -- if we are going to raise it in a tax increase, be spent on those things

prime minister mario monti promised the government will do all it can to get the area back to normal. italian president expressed solidarity with the victims. >> i am certainly overcome at this moment. i want to express my feelings of great solidarity with all those affected and their loved ones. >> the death toll from the latest earthquake is already more than twice as high as on may 20, when seven people died. >> and just ahead after the break, we will have all the latest business news. >> and we will have our daily check on the teams competing in europe in 2012 up today. we will get denmark's chances. >> do not go away. keep it where it is. we will stay with us. ♪ ♪ >> true art has a mind of its own, just like beethoven and the artists who interpret his work. at the beethoven festival bonn 2012, from september 7 through october 7. order your tickets online. ♪ >> thank you so much for staying with us. >> official figures show inflation in germany has fallen below 2%. >> consumer prices rose an average of 1.9% year-on-yr. one big reason, falling oil prices. the price of crude has dro

protests continue in spain for the second day in a row while a eurozone exit looms over greece with monti leaders have failed to form a coalition government up to elections. in indonesia and local recovery teams are joined by russian contingent in the hunt for the flight recorders at the crash site of sukhoi superjet in which all forty five pull. up next to our special report on the outstanding monument symbolizing soviet triumph in the second world war the motherland calls. she stands fifty two meters tall with a sword eighty five she weighs eight thousand tons and is six meters tall of the most famous symbol of the united states. the guinness book of records named it as the tallest sculpture in the world at the time of construction. brushes symbol of victory the motherland coles sits on the hill of my my after a gun in volgograd. the city saw one of the bloodiest battles of the second world war. during the war it was known as a stunning read the first day of the battle in july nine hundred forty two and so forth and the families of people killed more than two million soviet soldiers or

mario monti is there for the first time.r as well, and that guy there key, francois hollande. he's a fiscal and ideological made as we would say in my country with the president, with president obama. he's a guy that's more into the growth than just austerity and, of course, he's butting heads with angela merkel in germany about the austerity measures. one of the important things to remember from the president's point of view, baps what happen europe is not irrelevant to what will happen here. >> how do you think the new players will shake up the dynamic. it's a small setting. they get to know each other relatively well. they get along, they have these side bar conversations which is usually where the real work gets done. now you have new folks in the mix. >> angela merkel when she was mates with sarkozy, the predecessor to hollande, they were on one page when it koum to the austerity measures. now you have a guy there saying, yeah, not so much. we need a growth element to this, too. merkel is the one who is little bit on th

and it was a mixed picture investors were optimistic there after the italian prime minister mario monti said that they would do everything they can to make sure that greece stays in the euro zone but the same dime that dropped lower and one of the disappointing shares there was the from the enco and that's because the shares dropped almost seven percent and the. so news that it will lower its once it's well forecast after demand is the climb in both domestically as well as overseas now in all the news of russia as a gas from could change one of its partners over the company's most promising offshore project or sunday newspaper says it is considering abandoning this partnership with and developing the gas which field in the barents sea gas from is in conflict with a norwegian for a mobile working schemes and reportedly wants to replace it with dutch shell the current partnership was also includes french so it's haul is expected to discuss with president vladimir putin later in the day. hi karen this is how the business of day looks out back to you ok good stuff thanks mike. shortly revea

who writes monty writes to us, the short-term alternative to not raising the debt ceiling would be very devastating to the already devastated most disadvantaged. let's look at some video from speaker boehner and also from nancy pelosi. >> the very fact that they would say tax cuts for the wealthy don't have to be offset but investments in the education of our children, medicare for our seniors any other subject that has to be offset is really a statement of their values. you've got to give them credit. they stick with the guy that brung them to the dance. and the guy that brought them to the dance are the special interest wealthiest people in our country and they're willing to deepen the deficitity, make us further in debt to china and other countries in order to give a tax break to the wealthiest people in the country and it's not creating jobs. so it's not even a question of sincerity. it's a question of what is their value statement. >> we can use the debt limit debate to be the force washington to act to cut spending and enact some of the real reforms that will help put america on a

of the country's three main unions denounced reforms carried out by technocrat prime minister mario monti. and in spain trade union activists marched against a record eurozone unemployment rate of twenty five percent with nearly half of young people out of work that's as a country suffers a double dip recession strategic planner and salyer believes the economic troubles in europe spell a larger political crisis. the problem with the euro zone idea and the european community it's a suburb in a democratic ideal whenever the european constitution has been up for a vote its has lost in every referendum popular referendum that's been out there and now you are having the problem of this economic crisis which is becoming worse and worse what you have is the european union and the european central bank demanding that the national governments cut spending and go into these austerity programs rather than devalue the euro and try to inflate their way out of this problem so it's basically helping the bondholders at the expense of the people now the people of course eventually if you keep on squeezing

the country three millions denounced reforms being pushed through by unelected prime minister mario monti rallies also turned violent in germany is left with demonstrators clashed with police in berlin and hamburg injuries reported on both sides in the midst estimated four hundred thousand walked across the country to demand the growth strategy rather than cuts and in spain which is battling a double dip recession trade unionists focused on the record eurozone unemployment rate twenty five percent when half of young people out of work one message was clearly throughout the whole match the economy of the future needs centering around citizens and not bailing out banks. in italy. the violence come from. establishment with political territory when you have a cut in your which. you wage when you cut social security when you cut in and then you see that. people are confronted with very violent process in their life lose their middle to survive and that's why i think we see that sort of reaction in the population we have to have an economy with the people first the people and not the profit and

its trading session investors are really focusing on comments made by italian prime minister mario monti and he reassured investors that they will do everything they can to make sure that greece stays in the euro zone and you can see that optimism reflected in the figures that the dax is adding point seven percent whereas the footsies just the knowledge and of course even though fears remain about the so-called gregg's that as we heard and the comments like that do help investors and we've seen figures going out poised but it's still early in the session suv thing if we will see them heading higher even more now let's move on to russia it's now a little bit over an hour into the session here and we can see that the figures have now reversed earlier losses and now they're heading as a positive. territory the my six is out in a half a percent this hour and what's also helping russian investors in the fact that oil prices are going to our let's take a look at some individual share moves on the my six oil majors haven't had a chance to react so much to the oil prices yet because oil prices b

it's like i don't know, it's out of monty python. yeah, go ahead. >> so if they decided that they should be two separate states, then i guess the idea is they're both fighting over the same little bit of land- they all want jerusalem or something? >> well, it's very complex, but in a nutshell, to kind of give you the overview, you know, what we have here, and this came out of the- one of the things that i really love about this profession and at least the freedom i have at western to teach, is that i can create or resurrect classes- and i wanted to know more about judaism, so i put together a semester-length class on judaism and much of this comes out. well, of course, everyone is familiar with the holocaust, but the history of the jews is just enormous irony and suffering, and it's just overwhelming. but to come back here quickly to the situation, the zionist movement, as dr. lorberbaum says, you know, starts roughly around 1897 and works in many different facets. the one most interesting, i think, is there was a strong group that w

issuance of the euro bonds is now on the table and that's because the italian prime minister mario montihas said that e.u. leaders all the supporters of the. merkel we're not sure yet we're going to be holding tight for that one have a look at how these centers are all feeding into the common currency this hour we can see that it's had a rule challenging search one twenty five twenty six there for the traders very past the ruble as well that's going to be closing off in about ten minutes time or so and as we can see is are losing out to the u.s. dollar and the european currency this hour and that is investors really jump ship and get away from a risky like a movie or what have a quick snapshot of how the biggest blue chips here moscow are looking out with the russian markets as well to look at the also yes over a percent down on the my six around point two percent in negative territory and that's how it looks to be set to close today on the back but as i said. following on from what's going on in europe here moscow and these are the biggest companies here with us but like that around nin

there is some sort of a plan but from the leaders here the european leaders here a lot of new faces monti here what we're hearing is we need to try our best to keep greece in the euro zone and this is something of course we've been hearing for a long time so the speculation is that the public montra is we need to save greece we need to keep greece in the euro zone but behind closed doors they're talking about how soon greece might have to leave you know g eight summit can be completely completely without them a lot of speculation even weeks really before the summit when putin made it very clear that he needed the time to form a new cabinet and media going wild with that saying that the reasons range from anything to he's afraid of criticism about protests to just relations between the u.s. and russia are horrible in fact prudent and obama spoke on the phone about him not coming they will be meeting in just over a month after g twenty and with that said a lot of experts that we've been speaking to say because the euro crisis has taken over really it doesn't make much sense for putin to be

that's happened in europe we got some positive comments yesterday from a town of prime minister mario monti who said that they will do everything they can to make sure that who stays in the euro zone so the ultimate sense mint is coming from there however chinese investors are worried about the health of the path all of the countries of growth and that's why we've seen that it's of figures there in the hong kong now moving on to the u.s. and that they're trying to session mixed as well there on the thursday who saw that the nasdaq slipped into negative territory and that was a mainly due to the uncertainty that still remains in europe decides even though we are getting the positive comments we still don't know for sure and that's where we see in fall it's all sessions in markets across the board at this appointment there was stuff in the in cold and the shares are dropped almost seven percent that's after the jewelry retailers said that it's twelve twenty twelve forecasts would be lower in terms of profits and sales and a decline in demand for its products overseas and the mess that it woul

first to arrive, it's mario monti, an economist and technocrat. his job in the euro crisis -- to stop italy being next. humphrey hawksley, bbc news. >> whether italy is next or not, spain appears to be right in the firing line. let's go over to madrid. our correspondent is there. tom, i mean, it's a bit of a yo-yo going on for some of these bank shares. >> that's right. let's talk about banks here. banks, really troubled banks here in spain, one of the old savings banks here, which really lent a lot of the money that funded the property boom which then went bust. shares dropped dropped sharply yesterday. at the end of the day, they were down 14%. they bounced the day a little while ago. they were up some 20%. so, good news in that respect. maybe the new leaders are coming out yesterday saying, look, there's no run on this bank. people's savings are safe, main investors really feel that actually in the short term, at least, it's ok, and actually, another message coming out of the european commission that a bailout is not necessary, according to a s

and what we had there was a mixture investors were confident after sally and prime minister mario monti so the eurozone will do anything in there to make sure that news stays there but also we had a disappointing when it comes through stocks for example we had seventy and co which dropped almost seven percent and that's on news that it will lower its twenty twelve forecast after a decline in demand both domestically as well as overseas there now in other news of russia as a gas problem is could change one of its partners in the company's most promising offshore projects come sunday news for proclaims that is considering the band and its partnership with stacks of oil and develop in the gas which stopped in the field in the barents sea and gas from is in conflict with in the region for overworking schemes and reportedly wants to replace it with dutch shell the current partnership which also includes french toast now is expected to be discussed with president vladimir putin later in the day. and that's what i have for you this hour carol back to you ok we're going to see you next hour. bu