mean welcome to on the money with the business of russia it used business i'm peter lavelle today we're talking about russia in a volatile world. i discuss this issue i'm joined by chris we for here in the studio with me is chief strategist at i n g we also have yvonne he is chief economist for russia and c.i.s. at renaissance capital and we have anatoly miller cough he is head of asset management at gazprom bank and andre who is not so if he is c.i.s. russia strategist and vice president citi investment research and analysis at citi bank ok chris i'm going to start out with you gentlemen let's all talk about the volatility in the world let's start with the eurozone where is it going is there any end in sight and if there isn't and so i would say outcome no i don't think that's what we're not expecting to see any you know short term solutions clearly this is a very extensive problem and it's going to require you know a substantial euro wide. solution so i think you know obviously to the summer months we expect to see some perhaps some temporary stopgap measures nobody has. been started

welcome back to on the money i'm peter today we're talking about russia and volatility but first let's have an overview of russia in the global economy. the two thousand and eight now down so global investors desert russia live in the government billions into liquidity and economic support the reserve buffer russia had built up prior to that has been says largely rebuilt there is a reserve that has been built up and currently we have more than one hundred twenty billion dollars in the world funds. that those resources can be used to further attenuate any crisis that comes rushing this way furthermore there are more than five hundred billion dollars in f.x. reserves that russia has to try to deal with any volatility in the exchange rate front still however. it needs to be taken into account that these levels of reserves are lower than the ones that russia had before the first wave of the crisis in two thousand and eight immediate two thousand and eleven key european players are stupid and will default line despite the markets already pricing one in with a major impact for russia likely

peter. >> jay, today's crew includes the captain, christopher ferguson, they call him fergie at nasa.they woke up this morning to "god bless america." as you note, there have been no technical problems today on this final and historic landing. the question is, at the end of this, it will stay and be retired at the kennedy space center site, it will be on display at the visitors center, but the question is the future of the space program as we know it. this is the short term program, where the shuttles go, but where do you see americans going when it comes to outer space? >> reporter: well, nasa right now is cutting back to their commercial program. the good part about it, it will save the taxpayers a lot of money because shuttles did a great job, but they were very expensive to fly. commercial flight will be much cheaper. but nasa will also be building what they call a heavy lift rocket. they already have a multi purpose spacecraft called orion and its first mission will be to go to an asteroid. we're a minute and 43 seconds away from the touchdown, peter. >> we'll ask you to stay wit

>>> good morning to you, i'm peter alexander in again today for my friend, willie geist this is "way too early," the show that brought a few extra undershirts for the crew today, i'm just saying, it's a hot one. glad you're up with us this morning, listening live on sirius xm radio. shoot me an email or tweet me, just to let me know why you're awake right now. you can do what any member of the murdoch family does, text the word awake by your response to 622639. we'll read the best responses later in the show. >>> the next 30 minutes are going to be your cram session for this tuesday, july 19th. there's a lot going on today. including the undocking of "atlantis" from the international space station. as the shuttle prepares to head home for the final time. >>> plus either this woman hired the worst wedding photographer in the world or these ain't wedding photos, they may be booking photographs, folks, we'll break down what happened to put this bride behind bars. >>> first, let's get to the news live at 5:30 a.m. we begin with developments surrounding the scandal threadening rupert murd

today yeah. and. welcome back to cross talk i'm peter lavelle remind you we're discussing the world of rupert murdoch. and. tony feingold to you i think we all agree good journalism is good for society but what is good journalism today because if we look at the business model most of what we discuss in the during this entire program i mean it's profits that are most important and and traditional media has a very hard time in this environment i mean we all know poor journalists ok i mean is the public good being served by the business model in journalism today. well peter it's interesting because the idea of responsibility and media is pretty much a twentieth century concept when our founder started the idea was a absolutely open robust stridently partisan press that was full of lies full of innuendo and full of all sorts of false information and that in that sense it seems to me that we're just revolving back to that concept where we've got more stridently partisan media on both sides and we've got this robust communication and the whole idea of the enlightenment was that the founders was that the pub

peter all over. today reaching. hundreds of ethnic cossacks have been involved in the massive brawl with ukrainian special forces over the removal of a religious monument in the crimean peninsula the orthodox christian cross was erected in the resort city a few dosia in may defying a local authority burn and anyone as a result of the models earlier this week despite opposition from local residents christian cossacks marched through the city and protested the side of the cross soon dispersed by riot police look at violent confrontations and broke out resulting in fifteen people being seriously. well now our exclusive interview with coke and got his son is coming up as i promised a little earlier that will be right after a recap of the top stories this hour in a few moments there was life here in the sky. move. to. thank. more news today violence has once again flared up the film these are the images the world has been seeing from the streets of canada after. challenger operations or on the day. good luck. for. the la

poor journalists ok i mean is the public good being served by the business model in journalism today well peter it's interesting because the idea of responsibility and media is pretty much a twentieth century concept when our founder started the idea was a absolutely open robust stridently partisan press that was full of lies full of innuendo and full of all sorts of false information and in that sense it seems to me that we're just revolving back to that concept where we've got more stridently partisan media on both sides and we've got this robust communication and the whole idea of the enlightenment was that the founders was that the public would understand what's the truth and i kind of think that we're getting back to that point of view and you know when we look at regulation of the media when we look at what the media is doing i trust the people i've got great confidence in the democratic process and i've got great confidence in the people being able to tell what the truth is and what do you think about that because tony is going to point the at least feed the origins of the american repub

later today, the couple is going to visit an inner city school as we saw in peter's piece.ow well are they balancing and dividing the line between their celebrity status and what they really want to do here, connecting with people in the different cities that they're visiting. >> very important that these trips aren't seen as glamour and celebrity and getting kids off the streets and actually helping people is very important to this visit. and it's very important for this visit that that message gets across. after all, britain and american service stood shoulder to shoulder and it's important that gets across. >> a quick trip, but a fulfilling one for them. we thank you for your insight. >> it's a pleasure. >>> up next, it's been nearly 50 years since another set of brits first came to america. see the rare, never-before-seen photos of the beatles from that trip, right after this. >> we've got a flood. this is where the rubber hits the road, the nose breaks the grindstone, and the angels start second guessing where they tread. ♪ call 1-800-steemer you gotta try honey bunche

peter all of us. today reach. for it so in a moment here on out see our special report on life in cairo's garbage village but first i'll be back with the headlines to stay with us. the official. application to go on the phone all i pod touch from the store for. lunch all changed life on the go. for the deal on demand ati's in line for old costs and already says feeds now in the palm of your. question on the dot com it's been in the year in iraq is now a trade journalist. in some ways to go or if you have contractors there's kind of wasting their time trying not to get killed. i thought all along the length of the movie at about five hundred miles. it would take me about twenty seven days in new going to publicize it before.

peter all of us. today reaching. hundreds of ethnic cossacks have been involved in a massive brawl with ukrainian special forces over the removal of a religious monument in the crimean peninsula your thoughts christian cross was erected in the result city a few days here in may defying a local authority and the monument as a result it was demolished earlier this week despite opposition from local residents christian cossacks morsi to sit in a protest against the side of the cross dispersed by riot police not valid communications to me broke out resulting in fifteen people being seriously. while now our exclusive interview with colonel gadhafi son is coming up as i promised a little earlier that will be right after a recap of the top stories this hour in a few moments stay with us live here in moscow. please. move. just so who's please. just so. if. the for. more news today. the from these are the images the world has been seeing from the streets of canada is true for. the first sleep. if. some move from feinstein. pl

today's crosstalk peter lavelle and his guest who are discussing why the leadership is so adamant about saving the euro at any cost and here's some of the program coming up for you in the next hour. lead to greece go break probably would be good for greece it would be good for europe it'd be good for the world if greece went bankrupt and rose to the heart of pay their bills or start a lie then you would have was great everybody would know it's a strong sour currency based on a strong sound economy while i'm out of gold problem. in america we've had stayed. in cities go bankrupt we've had care is go bankrupt in the united states and it didn't in the u.s. start i'll tell you why because of the four hundred billion dollars of debt that greece has fifty percent is held by german and french banks and those countries bill want to take a second hit in the financial markets is that simple. fix it. if you want to think. rupert murdoch has reportedly personally apologized to the family of a murdered schoolgirl whose voicemail was hacked by his newspaper the news of the world this comes after rebe

. >>> house security chairman peter king said today that more than 40 americans have been recruited and radicalized by al-qaeda-linked terrorists in somalia and have gone there to fight. we have a report, east african terrorists are doing more than making bombs. >> there's a new weapon of mass destruction called famine. the al-qaeda-linked al-shabaab group in somalia is contributing to starvation on a mass scale. millions are hungry and risk. >> al-shabaab is the reason this is as critical as it is. >> this shows the intensifying drought, and this head area in southern somalia, that's the hardest hit. starvation and malnutrition levels there officially equivalent as famine. the area of somalia is controlled by the al-shabaab militia, fighting against the government. clashes are forcing refugees to walk for days to overcrowded camps, or into the hellish danger of the somalian capital of mogadishu. >> some have walked 30 days with nothing but the children on their backs. >> things are getting so dire, al-shabaab says it will finally allow in relief groups. the u.s. says it will test the p

up next peter lavelle and his guest today whether the srebrenica massacre sixteen years ago is being used today as a political tool across stop coming up. live. kick. start. to. close in welcome to cross talk i'm peter labelle as the world remembers the tragic events to develop separately it's a dutch court rules that peacekeepers task to protect civilians during the bosnian conflict failed in their duties sixteen years on do we have a fair and balanced interpretation of this war and we have a proper memory for all victims. can start. to cross not the bosnian conflict i'm joined by mohammed chuckled the he's a former bosnian ambassador to the u.n. and in london across the nation and of the old vic she is a political expert on the balkans all right gentlemen crosstalk rules are in effect that means you can jump in anytime you want me to find go to you first today is the sixteenth anniversary official anniversary of events that occurred in seventy two are you satisfied how mainstream media portrays those events and we can use tragic events or i can you can use whatever you want but how

her autopsy could be completed today. peterer, nbc news, london. >>> in this country, this is shaping up to be one long, hot summer. consider this. last week 845 records were broken or tied. it's blistering heat wave but is it about to break? janice huff is outside on the plaza to tell us. what is it looking like in terms of relief? >> doesn't feel that bad this morning and we're expecting cooler temps in the northeast today. so, it really depends on where you live. yes, the northeast will get some relief. yesterday we had record heat as you mentioned earlier. boston in the 90s. 100 degrees in new york city. but today in the 80s to around 90. the jet stream is shifting south. the central portion of the country will not see relief. dallas, 25 consecutive days of 10 0-degree heat there and more is expected. not expecting that pattern to change for the next couple of weeks for that portion of the country, lester -- or jenna. >>> in washington politics, there appears to be progress in a bid to reach a deal on the debt ceiling. pres

state controller peter francho placed the first order today. >>> well a very busy day on area highways as folks headed out for the 4th of july holiday. here's a live look posted at the bay bridge toll. it's pretty clear right now, but this afternoon there was a pretty good back up. aaa is predicting fewer marylanders are driving this 4th of july. many people likely change their plans after gas prices started to drop recently. prices have dropped nearly 30- cents since last month. the price of regular now $3.56. $3.81 last month but last year you only paid $2.70. >>> a lot of you are celebrating in town and some in baltimore county are calling dibs making sure they have the best chair in town. the parade does not start until monday, we're told people have been doing that for years. >>> stay with wjz for complete coverage of the july 4th holiday for travel conditions, updated forecast and live radar log on to wjz.com. >>> well the nfl isn't the only one paying michael vick again. a dog fighting conviction lost him millions in endorsements, but now one very big company is welcoming him ba

and in today's crossed off peter lavelle in his guest discuss why the ears leadership is so adamant about saving the euro at any cost here's some of what's coming up at seven thirty g.m.t. . let greece go bankrupt it would be good for greece it would be good for the europe it'd be good for the world if greece went bankrupt and run out of the not just pay their bills or stop the lie then you would have everybody would know it's a strong sound currency based on a strong sound economy why not let him go bankrupt. in america we've had states and cities go bankrupt we've had counties go bankrupt it didn't in the united states and it didn't in the u.s. tell you why because of the four hundred billion dollars a debt that greece has fifty percent is held by german and french banks and those countries don't want to take a second hit in the financial markets it's that simple. and. the sunken volga river cruise ship is due to be refloated within the next few days with a special equipment already at the scene of last weekend's accident in tatarstan the operation is due to begin later on friday the se

well in today's cross talk peter lavelle and his guess will be discussed discussing why the use leadership is so adamant about saving the euro it any cost and here's some of what's coming up in a few hours time heated debate in crosstalk. greece go bankrupt it would be good for greece it would be good for europe it'd be good for the world if greece went bankrupt and. pay their bills or stop the lie then you would have everybody would know it's a strong sour currency based on a strong sound economy why would i want to go bankrupt. in america we've had a safe. cities go bankrupt we've had carriers go bankrupt in the united states and it didn't in the u.s. so i'll tell you why because of the four hundred. fifty percent is held by german and french banks and those countries don't want to take a second in the financial markets is that simple. divers are finished searching for bodies inside the wreck of the pleasure cruiser bulgaria which sank within minutes last sunday hundred fourteen people out of over two hundred on board have been officially confirmed dead while fifteen remain missing the v

we are joined with our legal panel and their take on today's ver. peter johnson, jr..igga nick low is with us. thank you all. -- peter you and i spoke earlier in this. we looked at casey's conduct. we looked at her lies. i said this should be a slam-dunk. we both believed that. i watched this trial. and i watched these closing arguments. i was shocked myself that the defense attorneys did not -- the prosecution did not meet that high standard of reasonable doubt in my mind. >> and didn't in mine either. i pointed out, i think it is a great day for the american jury system. people saying how can you say that? i believe she is guilty. but a jury verdict is the last word in our society. and if we don't do everything in our power to ensure that the jury verdict and not vigilante hosts, and vulture justice reigns in this country then we have a problem. if we are going to honor the constitution honor it in a courtroom in orlando, through due process so to the notion of reasonable doubt. whether we agree or disagree with this verdict, the jury of 12 decided that the prosecuti

peter doocy's like 50 today, isn't he? patti ann: or 5ment. bill: happy birthday, peter. those are just some of the stories so far in the newsroom. democrats are saying republicans are trying to cut the debt on the back of seniors. new details, though, on a plan democrats are pushing that would send medicare premiums, some argue, through the roof, up by about 40%. patti ann: meanwhile, a new bombshell in the casey anthony case. what the prosecution never revealed during the trial. geraldo rivera has that exclusive, he'll join us live. bill: and some are saying it's the stifling face of america. 32 states under a heat advisory warning today, what's been called a heat dome. we'll tell you where that is, it sits over a big portion of the country. stay cool. >> i'm hot and sweaty. >> it's like sitting in a sauna all day long. >> hot and tired. it makes you, you know, lose your energy quick. [ male annocer ] things seem better with travelocity's best price guarantee. our girl's an architect. our boy's a genius. we are awesome parents! biddly-boop. [ male announcer ] if you fin

peter was my bike coalition tour guide today. we got to see some of the green lanes, the boxes, and we also got to ride in some of the areas where there were not biplanes, and i got to feel how unsafe it was to have trucks and cars trying to jostled around you, and i definitely want to work towards getting lanes that would make someone like me feel safe to ride to work. thank you. [applause] supervisor wiener: let's hear it for district 8. [applause] i was really lucky to date to be able to experience a lot of the real than the art of making our streets more complete and better for everyone. we started at the plaza on castro and market, which was the first in the pavement to parks program, a wonderful example of using our streets in a smarter way. we went down the brand-new 17th street bike lanes, which is terrific, and of the amazing mee again how important it is to resurface our roads and make them smoot for everyone. then, of course, the green bike lanes on market street and the physical separation, which is so important. this

let's bring in our extreme team today. peterprofessor at the university of maryland and the founder and chairman of the memphis tea party. meter let's start with you. >> absolutely not, i'm a nis call conservative, the government spends too much money, the deficit is way too large, but there are times when there are good reasons to have deficit in other words the recession. as tax revenues are falling with economic growth, to cut spending at a time like that would be an absolute disaster. there's no substitute for self-discipline, this congress needs to learn self-discipline on its own. >> mark, would you like to weigh in there? >> yeah, look, peter obviously a fiscal conservative just as i am. but the fact of the matter is this is a debt ceiling discussion. as long as the federal government, the senate and the house and the administration continues to dole out favors, they're never going to bring discipline in. and like our state of tennessee, which has a balanced budget amendment in the constitution, and we balance our budget,

today. delivering a fiery weekly address repeating challenge to republicans to act -- to accept higher taxes on the wealthy. peter doocy reports from washington. >> reporter: today is july 2nd. the administration says the debt limit will be reached august 2nd. president obama says to tackle our massive national deficit, tax breaks must be targeted with wasteful spending but nothing is off the table. and it is time the government stars living within its means like families do. >> the president: it would be nice if we could keep every tax break, but we can't afford them. if we choose to keep those tax breaks for millionaires and billionaires or hedge fund managers and corporate jet owners or for oil and gas companies pulling in huge profits, without our help, then we'll have to make deeper cuts somewhere else. >> reporter: the president says anything is possible. most republicans are probably going to disagrees. they will not get behind any tax hike. in the weekly gop address senator coats from indiana says the president should do what indiana's governor did, cut taxes, lower spending a pay down the debt. then ever

peter doocy has more on today's top story. >>reporter: you are right. president obama is touting his debt plan including spending cut tax increases and the president said the wealthiest people must pay their fair share. or rin hatch argued for tax increases and called for a balanced budget amendment. >> one of the nation's biggest freeways is getting a make over so the crews can get a billion dollar expansion project . it is so far . no signs of jams. one motorist called the project karma heaven. >> zanela gonzalez is suing casey anthony saying her reputation was harmed when casey anthony lied. she was acquitted of murdering caylee and released tomorrow. >> final installment in the harry potter series will break the sales record earning 191 million in a day. box office are expected to hit all-time high. >> 92 million and quite a record there. not bad at all. >> could your social security be on the chopping block? nancy pelosi said everything should be on the table in the debt talks. but one lawmaker said those who think about touching social security wi

today they said there was nothing they could do to help winehouse. police tell us an autopsy could be completed within the next 24 hours. lester? >> peterer in london tonight. thank you. >>> we're back with more news, including today's high speed rail disaster right after this. >>> tragedy in china tonight, a collision between two high-speed trains has left at least 32 people dead. two cars derailed and plunged at least 65 feet off a bridge. one of the trains had lost power after being struck by lightning. the other train crashed into it from behind. >>> and we have more tonight on the debt crisis and the big sticking point between the two parties, whether tax increases will be part of the final plan. one of the most influential voices in washington arguing that they can't is the anti-tax crusader gordon norquist. grover norquist. andrea mitchell has his story. >> reporter: grover norquist is a behind-the-scenes power broker who's never held office. a self-described reagan republican who even tries his hand at standup. >> bourbon, neat, no water, my rule, never drink water, dick cheney tortures people with it. >> reporter: but about tax