for second homes and so on in singapore. now, we're talking about another round of measures this last week. so again, they can introduce these things piecemeal, ad hoc way to see how each measure reacts in the marketplace. and it doesn't actually always take a little bit of time for these measures to filter through. often about three to six months. so i expect to see that again here. >> peter, this is christine again. quick one from me. we keep talking about this housing crisis in the u.s. what's the potential of a crisis happening here in asia? >> i think it's much less the case in asia this time around. quite frankly, asia had its major crisis in the late 90s when we had a massive oversupply in housing. that excess got washed out in the early part of this decade. quite frankly, asia hasn't had enough time to get its back into trouble again following the crisis it had in the late 1990s. so i think we're quite happy. we haven't had massive borrowing, we don't have massive consumer credit, we don't have huge amounts of constr

singapore, and churchill had already sent a significant proportion of british armed forces tout singapore. most of whom went into cabtivity without firing a shot. churchill explained, he didn't know that singapore was so poorly defended. the brilliant historian, a.j.b. taylor pointed out he did know and had done nothing. churchill's entire military strategy, in world war, ii was based on the paradigm of world war i. it became known as a disperseist strategy. pen ricks of military attacks around the periphery of hill her's feef dom, norway and greece and creet and sicily and italy. and an obsession with an attempt to launch an attack on the japanese from the northern tip of sumatra but he comes back and again and again and completely opposed by the british military. now you cannot win a war by dispersionism, it is not possible. to win a war, you have to cannot sen trait forces. world war ii wasn't won by addition persianism. it was won by the consen stration of forces in the east in the soviet union and the concentration of forces -- by the western powers on the southwestern side. dispersi

churchill exclaimed he did not know that singapore was so poorly defended. a brilliant historian pointed out that he did know, and had done nothing. churchill's entire military strategy in world war ii was based on the paradigm of gallipoli in world war i. pinpricks of military attacks around the periphery of hitler's fiefdom, norway, greece, sicily, and an obsession, an attempt to launch an attack on the japanese from the northern tip of sumatra that he comes back to again again, completely opposed by the british military. you cannot win a war by this version is an. it is not possible. to win a war, you have to concentrate forces. world war ii was not one by dispersion is some. it was won by the concentration of forces east of the soviet union and the concentration by the western powers from normandy on lawrence on the western side -- from normandy on board on the western side. it did not and could not win wars. but the failure to concentrate resulted in procrastination over the second front. churchill would have had it postponed until 1945 if the americans

let's have a look now at the asian market with adam in singapore. morning, adam. >> thank you very much, stephane. good morning to you. before we get to the composites, take a look at japan. the equity markets came under pressure here. financials once again weighing down on the equity markets in japan and actually we have sizable losses amongst the top lender. there are lingering concerns that discussing yesterday that the bank of japan will have to raise more money following the g-20 summit meeting. of course, the auto exporter stocks came under tremendous pressure, as well. as we continue to see the weakness of the u.s. dollar across the boards, that pushed the yen higher. while the yen is lower at this point in time, most of the trading session it has been lower and that is a negative for the autos. particularly for companies like toyota, remember, they budgeted in '92 for this fiscal year, so if we continue to see strength in the japanese year, this could be a problem. on that note, back to the u.s. with mike. good more. >> thank you, adam. ther

it's lisa over in singapore. where do you think interest rates are going to be headed globally and when do you think central banks will start tightening again? most economists think it's not going to happen for quite some time. austral australia, norway, we are getting suggestions that rates will be going up quite sooner. >> i think they're probably right. we can't see any big rush to put rates up any time soon. but i think australia has been fairly clear. and yeah, we have 25 basis points higher for norway in the next month. but i don't think on the major economies there's any rush. we're still not looking much for the u.s. i think maybe europe will be ready to go a little sooner whereas the uk, i think, it suits to keep low interest rates down just now. >> paul, it's julia here in the u.s. there's been lots of attention to the dollar, jean claude trichet says that he's for the strong dollar, but robert zulich cautioned against assuming that the dollar will maintain its role as the world reserve currency. where

he was asked to crash his car on lap four of the singapore grand prix last year. they wanted the safety car out so his teammate, alonzo, who had already made a pit stop could climb up the leader board. the spaniard went on to win the race. today the world motor sport council described it as a breach of unparalleled severity but fell short of kicking them out of formula one. >> they are suspended for two years. what that comes down to, is provided they don't do something similar within two years, they won't have any problem. >> how did ren ausm l -- renault escape a ban? they admitted their fault and issued an apology. they claimed the drivers, who were responsible, left formula one, and they agreed to pay the full costs of the crash investigation. instead it is briatori, one of the sport's most flamboyant members, who had the biggest penalty. he has been banned for life. one driver has a five-year suspension because he at least said "sorry." one was prevenlted immunity because he reported the scandal. so for now renault can carry on as normal and that will concern

. >> they have to win over the weekend to find out the punishment for that action at the singapore grand prix. if you have not been following this story, the team said it will not contest allegations made from their former driver that he was ordered to crashed during last season's inaugural night race. while there is widespread shock at some of the allegations, not everyone wants to see them kicked out of formula one when their cases discuss monday. >> when they finally have information and i think -- it would be disastrous to lose 18, and in our case, an engine supplier. hopefully a solution can be found. >> that is a good point, because a lot have been worried about teams leaving. >> it would be a great shame to lose renault because of the unfortunate incident. hopefully a solution will be found monday. >> did you think what happened in singapore last year is completely out of character? has it shock you or surprised you much? >> it is shocking. any driver to deliberately crashed a car is a shocking thing to do. >> we have also some salt -- some golf. two south koreans when an opening

citigroup, singapore sells its stake. they say it's just a technical thing and we had to convert this and then our stake can't be more than 5%. is it really just that or are they making a statement boo citi? >> i don't think it's a statement. i think certainly the stock has been very liquid. now it's a stock. they invested in a fixed income instrument in the first place. i really think it's logical for them to do that. certainly they do want to get below the 5% stake because there's some control issues at stake here. >> you buy that. >> i buy it. >> as an investor, we look at citi at $4.66. is that a screaming buy or do you say no, not even now? >> well, i think if you have time on your hands, it is a buy. certainly a lot of us are sitting back saying if the government is going to bring some stock, we'd like to buy it, but maybe the government is going to bring it at $4 or $4.25. certainly some rumblings now. i think the market would absorb that stock really well. i think it would be a strong signal. a lot of funds are so

starting with adam in singapore. >>> ended the day down about one day 1%, 1,634. the index year-to-date up about 45%, a remarkable recovery. and since lehman brothers collapsed, this market is up close to 11%. lehman brother's collapse had an effect on south korean banks, only some of the institutions had exposure to some of the corporate bonds in lehman, but given the global financial connection that we see in the markets, there was a knock on a domino effect across the board, the funding markets seized up, the commercial paper market seized up and this was a huge negative for south korean banks because of the high loan to deposit ratios and in some cases higher than the deposit ratios. to feed the appetite, a lot of institutions went to the the offshore markets to borrow u.s. dollars. u.s. dollar libor rates skyrocketed to 4.8% before scaling down to .3%, and the korean one plunged to 1,500 versus the u.s. dollar. of course the government in south korea stepped in to guarantee all of these fx loans, set up the agreements with the federal reserve and that extende

last season at the singapore grand prix, they crashed into a wall. his speed was increasing as they went into the corner. it was only when earlier this summer that he was being dismissed from his team that he started making these allegations along with his father that he had been instructed to crash on lap 14 to enable the safety car to come out into the track and that propelled his teammate right up to the front of the field because he was the head of the safety car so he could go on and win the race, which she did. ther-- which he did. the allegation is that his team told him to crash. renault has said that they will not contest the allegations. the two figures in their team are not said to be guilty of these allegations thesbut renau will not contest this. >> it is it possible that this could end there? >> there has to be hearings. if the drivers don't want to talk about it, they don't have to. we don't know who was really saying what. it is less likely likelyrenault -- championship. >> japan's new prime minister promised frank but trusting relati

we're talking about it, that it was felt as far away as singapore.league, christine cann is on the phone. >> reporter: according to reports so far, it struck around 6:15 in the evening singapore time. it's said to struck some 85k ilometers under the surface of the water. pretty shallow. tsunami warning has been issued but since has been dropped. buildings have been damaged, houses destroyed in the city closest to the city of padang, closest to the quake, bringing down bridges, starting fires, electricity in the city of padang has been cut off. phone lines are down in the city. there are some injuries, no word yet on casualties. i understand rescue teams are trying to reach the area where sumatra. apparently the quake, as you said, was felt as far as singapore, high rise buildings have been shook. friends say they felt buildings moved, some offices evacuated of staff. the region is nervous simply because the tsunami, you remember, that struck in 2004, that came from the same region as this one, killing about 230,000 people. adding to that, typhoon acr

bids $1.8 billion for singapore's charted semiconductor. >> hello, everybody, i'm louisa bojesen, makes a $17 billion bid for cadberry. >>> hello, everybody, welcome to worldwide exchange here on cnbc. very glad that you're joining us today and starting off just glancing at our broader market index. let's switch to cnbc global 300. our markets opened to the up side in europe about an hour ago. higher on that chart and our european bosses are indicating more of the same. a few more gains by the ftse and the cac. seeing a lot of emphasis on the food stock after cadbury rejected this offer from kraft. the question is if they'll come back with another offer. rallying higher by more than 35% on the open on the back of this bid. the currency markets, we're starts a brand new clean week. of course, markets off for trade today, canada, u.s., and brazil, all out for holiday. not a whole lot of volume in comparison to what is anticipated usually. but nevertheless, still seeing healthy interests in the dollar yen trade this morning, 93.23. 3.28 at the moment, so a couple of ticks higher. how are y

i know we were just talking about citigroup and singapores a sovereign wealth fund reducing its stake to less than 5%. ig extending the rally yesterday. a government watch dog group saying it is showing signs of stabilizing. let me say bank of america, dick bo bove raising his price target to $25. >> we were one of the three major indices up yesterday. start with yahoo! a lot of report reports about which businesses they might be selling. talking about zimbra, but they went goat anywhere near the money they paid for it in '97. google is a possible buyer. speaking of googling, "the wall street journal" has a story about their phone service application where they can put everything on one nun. that might get fcc scrutiny and they may not invest in development. dell right now, mixed picture. erin touched on credit suisse. on the flip side -- we've got to go back to erin for breaking news? excuse me. i just want to finish up with ebay. jeffries raised the price target from from 28 to 24. let's go down to bertha at the nymex. >> thanks very much, brian. as erin mentioned at the top, we are

you like taiwan, thailand, singapore and new zealand. what's the basis for your pick these? >> i think what we are seeing is basically an outlook for asian markets which is relatively benign. we do acknowledge that obviously there's been a recollection back in share prices and as such, what we suspect will happen in the coming six months is that prices will move higher on a regional basis but the environment will be dominated by rotational trading and a search for where the relative value is. so the key to doing well in that particular environment will be to search out where there are areas in the market where there are fundamental improvements in place. and watching those particular criteria, we feel from a geographical point of view, there's taiwan and ultimately it's a positive view towards the technology sector where we think it's not just the short-term rebound in earnings, but it's the long-term revision in what's going on and what the growth that that sector can deliver over the medium to long-term is likely to turn out to be. and then we think rather than being in an

the stock sale brings singapore's stake in citi before it was boosted by a debt exchange. general motors is adding a third shift at three u.s. assembly plants, resulting in the restoration of about 3,000 jobs. according to a published report in japan, toyota is raising to 6.5 million units from 6 million because of the popularity of the revamped prius hybrid. dan brown's "lost symbol" set a one-week record for publisher random house. how to invest in this environment with eric oguard. eric, nice to have you on the program. >> hi, maria. good to be here. >> we have a lot of new supply coming to the market. we have worries about performance as we approach the final quarter. what do you think? do you want to put new money to work here or no? >> i think you have to be putting new money to work. the bottom line for this is this market is healthy as it controversies. there is a lot of cash on the sidelines. corporate spending is picking up. positive revisions and numbers look good. >> what groups lead this recovery and lead the stock market rally if, in fact, it does have legs t

how will this affect singapore this year? we have in our studio someone joining us on the set who is all raring to go. >> indeed. >> how successful do you think the race will be this time, this year? >> well, i think the big difference this year and obviously last year the recession. what i've noticed significantly is the big cutback in spending by the banks, but the big corporates who have to watch their bottom line. the positives, however, is we're starting to see more tourists coming through. last year the hotel rate was sky high. they've been cut this time, so they're manageable. we're seeing a lot more intertravel taking place, more budget arrivals, planes coming through, as well. so that is giving a little bit of hope, at least, from a scenario where three months ago we were a lot more pessimistic. this time, i think you'll probably be able to handle in there despite the reduced number of tickets and the, i suppose, lower hotel -- >> why do you think the numbers are better? is it because the prices are a little more rea

i'm a pilot for singapore airlines. i supported an orphanage to help the children.rted, we only had four children, and we found out even more needed help badly, so we decided to build our own orphanage building. right from the beginning we give them vaccination, clothing, food. but we cannot give them anything more valuable than a proper education. >> very, very good. right. >> we are able to provide and to teach them just be who you are, help others, and do it from your heart. >>> he is using his pilot's 158 to support the orphanage right now, but he says he will be laid off with his job from singapore airlines in november. want to help? go to cnn.com/heroes. we'll be live from the michael jackson burial right after this. ♪ need a lift? hey buddy, i appreciate the ride, you know. no problem. ♪ mind if i take a shortcut? yeah, sure. ♪ i knew the subaru legacy was the smart choice... what i didn't expect... was the fun. the all-new subaru legacy. feel the love. it's what doctors recommend most for headaches. for arthritis pain... in your hands... knees... and back. f

now over to maura in singapore. >> thank you very much, carolin. asian markets had a fantastic day as we see more hopes about a global economic recovery continuing to boost markets here. across the region, japan closed higher by 1%. 1.7% to be exact. look where the hang seng is, up by 1.7%. shanghai saw a lot of liquidity. and the rally that we saw in commodity prices pushed the asx 200 up by 1.4%. i want to mention cathay pacific airways because this stock surged today the after the run's biggest airline companies says it was selling shares in its aircraft maintenance unit as well as selling back six planes on order from boeing to deliver its capital base. >> thanks for that, maura. we'll get the latest snap shop of consumer spending in the uk right after this. >>> i'm maura fogarty. in asia, the yen gets a boost after it's said a stronger japanese currency may support the economy in the long run. >> i'm ross westgate in europe. >> and i'm julia boorstin. investors in the united states will be closely watching the housing starts and weekly jobless

now let's have a look at the asian markets this morning with at am in singapore. >> thanks, stephane. we saw a lot of trading in the markets. the biggest performers coming out of the greater china region, taking a look at the shanghai composite. the market looked fantastic. we had gainers, overwhelming losers by a ratio of 758 to 105. and the gains were driven by the usual suspects on hopes that the government would continue to support the markets. and also more recently today, nine new mutual funds are being launched in september. that could see 7.3 billion u.s. dollars hit the equity markets at some stage. but the real momentum came into the markets in the afternoon as i mentioned as i saw the commodity prices perking up. everything from oil on the base metal prices helping to fuel big gains in the oil stocks, at least in some of the resource plays in china. and then the one that everybody has been watching, bouillon taking out that $1,000 per owns mark and that helped to push all the markets higher. moving up into north asia, it was a positive session. the japanese equity market wa

we have rebecca in london, patricia in frankfurt, stephane in paris and adam in singapore. time to throw in the towel yet, becky? >> not yet. bouncing like a big old beach ball in september. on the basic resource stocks, the ftse 00 by giet a margin is lonmin. kazakhmys is looking pretty strong and just outside of those top five gainers, we have the likes of eurasian, rio tinto, etcetera, all managing to post decent gains. we have seen a bit of an effective, the more assured we've seen about economic recovery, the more we've seen the basic resources stocks rising. we've had a bit of a bump up recently and that's had an impact, as well, on the likes of some of these companies. we've seen some of the banking stocks not doing too badly today. rbs and so on have looked fairly strong. that was the case in the u.s. yesterday, as well, when we saw gains coming through on wall street by tend of the session. rbs, barclay's, hsbc, lloyd's banking group all looking fairly strong in today's session, too. let's cross over to germany now and check in with patricia szarvas standing by in

. >> i was once giving a speech in singapore, and the monsoon was about to break.re was a rolls royce, with a young chinese woman saying, " dr. king, dr. king, and i get into the rolls-royce and i am told that tomorrow you are going to have a tour with the docks and i said i'm going to have a speech about energy. and she said, ronwrong, wrong, . king. she pushed me out of the taxi, and at that moment the monsoon broke. sometimes there is nothing better than an airport criminal. he said i am in a taxi. he said, no, you're not in a taxi. he said i will take you to hotel. he said tomorrow we're going to -- i said, no, we are not. there is this wrestling in one way or another. then he turned around, took his hands off the wheel, and he said no drugs. then i stopped drugs. he came around every day to try to offer me some new decadence that i did not avail myself of. we have that point in the program where we are going to have our high notes at low notes. claude salhani. >> mine is a little bit long, but i will try to shorten it. >> when will the book be on amazon? >> th

>> well actually, singapore continued to be the leading economy now for the fourth year in a row.we saw this year is that reforms to simplify continued at the top. singapore and hong kong continued with initiatives to make the life of their local businesses easier. >> what would get the united states up higher and what's your prediction for next year based on what you're seeing now in the united states when it comes to regulation? >> in terms of regulations, how easy or difficult is it to run and upgrade a business, it's very difficult to make predictions nowadays. you saw a record number of reforms. around the world, economies and governments are implementing more and more reforms aimed at supporting local businesses. >> is the prospect of more regulation here in the united states dimming its chances to move up the chain? >> the report is not about more or less regulation. the important thing is to have the right regulation and regulate the areas that need to be regulated. some of the areas such as protecting invest rs are areas that require strong regulation. >> what struck me w

. >> compromise or not at means alonso can return to singapore this week, albeit in different circumstances. >> it is the most public part of the biggest political scandal france has seen. dominique de villepin has gone on trial accused of running an elaborate smear campaign against nicolas sarkozy. the affair is shining a light on the rivalry between to politicians, but also the workings of france's intelligence services and business whirled. >> in the dock, the man who was once the international face of france, prime minister, and before that, for molester under president chirac. today domenic the villepin is on trial for his political life. he faces charges of using manipulation to try to bring down his hated rival, nicolas sarkozy. outside the courtroom, a taste of the venomous personal battered that this case has become. that he is on trial at all is the president's doing. >> i hope that the demands of justice will be met. i am here by the will, i am here by the obsession of one man, nicolas sarkozy, who is also president of the french republic. i will emerge free and have my name clea

formal one renault president bernard rei, and also alonso, the driver that run -- won the race and singaporehere the allegation came that he deliberately crashed on lap 14 so alonzo could make -- take advantage of an earlier pit stop. what is the plan for the council? that have to find out what part renault plays in this. whether it needs to be banned or five or face any punishment. the driver himself was given immunity because he has made the claims to the council. but we will find out the decision hopefully in the hours to come. >> and of course we will bring it to you as soon as a break. a big week for the united nations. world leaders gathering in new york for the annual meeting on wednesday. but more than 100 liters will attend separate meetings tuesday to address the issue of climate change and pave the way for deals for creag -- for future talks of copenhagen taking place in december. >> this week more than 100 world leaders will descend on the united nations. there is easily more fitter than substance that these annual gatherings, at least publicly. but on the agenda aren't some of t

finally, citi is up about 5%, as well as singapore has reduced to less than 5%. commodities, we had five days of strength in the u.s. dollar. that evaporated again today. commodities higher, gold is higher by about 12 bucks, up to $1,016. oil higher as well today, back above a $71 a barrel. freeport u.s. steel and murphy, getting a look there. carnival raised their outlook and their earnings beat expectations. getting a jump of about 7.5% and pulling royal caribbean along today as well by about five. weak dollar, higher xhcommoditc. >> we're near the session highs, about ten points. a couple of floors above me, ceo of yahoo! is doing a question and answer. really being asked several times about the stories the last few days, whether or not they're selling some of their businesses. she basically said generally, maybe. she says it's integrated into our system and let it at that. we'll see if there's truth to it. google, above 500. it's off the highs, but again, hitting another 52-week high. a lot of strength in big names. rumors of nokia take out out of europe. a n

the british prime minister flew to singapore for the final pitch. the french president did not. this year, the leaders of all four finalist nations will be in denmark friday. "this is a fight," brazil's president lula da silva said today, predicting he'll return with a victory for rio di janeira. the white house says obama has already done plenty of lobbying for chicago, even buttonholing world leaders at last week's g-20 summit. >> he has been working the phones. the vice president is working the phones today. >> reporter: the strategy carries political risk, if obama comes back empty-handed. but the chief executive of the salt lake city games says the president is doing the right thing. >> the real embarrassment would be for him not to go and for the games to be awarded to another nation. >> reporter: the odds for chicago's bid improved slightly today on the news from washington. but the bookies still give rio a slight edge. the president is set to leave here thursday night. he's back midday on friday. charlie, that's about the time the international olympic committee announce

now over to christine in singapore. >> thank you, stephane. we had retail, production data all very strong and shanghai stocks gained 2.2% after the latest data shows that the economy is accelerating, even though the ex ports have falling. a sign from its global demand remaining weak. and the market closed after the markets closed dow joins reporting the ex president has been sentenced to life in change. he was found guilty of corruption. over in long song, shares were helped by reports in shanghai. japan also released revised quarter gdp. in south korea, in seoul, the kospi rose 0.4% led by retailers and banks. the nation's biggest department store myers said its private equity owner tgp in the u.s. would float the company on the stock exchange this year. on that note, let me wrap it up and send it over to brian in the u.s. >> thank you, christine. today in the states, we have three key economic reports. we'll start with the university of michigan consumer sentiment numbers for september. now, the expectation is that we'll see a little better

i'm a pilot for singapore airlines. i created an orphanage to help the children. when we started, we had four children. and we find out there's even more and help so we decided to build our own orphanage building. right from the beginning, we give them vaccination, clothing, food. but we kabt give them anything more valuable than a proper education. >> translator: life was tough before when my parents die, i couldn't go to school. for me, budi is an angel. i'm now in medical school. >> very, very good. we also have food and provide and to teach them. just be who you are. help others. and to give from your heart. and they'll match any advertised price. so instead of searching for "deals" out there... you can go back to school for less, right here. save money. live better. walmart. >>> these tough economic times, people are less likely to splurge so many in the travel industry have to make some changes. here's gerri willis with this week's "money and main street." >> reporter: at the heart of litchfield county, connecticut are the bed and breakfasts like the one dea

now over to adam in singapore. >> thank you very much, caroline. asian markets ended the week limiting the losses in the japanese equity market, particularly in the banking stocks, a sector that had been under tremendous pressure all week on political concerns and concerns of a new government coming in. the new blanking minister said he wants a moratorium and wants some of the loans to individuals and small businesses. because they have been struggling. there are lingering concerns about the credit spilling into the consumer lending space because they want a moratorium or a delay in repaying $3 million to some of their bankers. moving on to south korea, that was one of the top performers, though, in north asia. coming off the day, closing below that 1,700 level, the kospi marching to three-month highs. particularly the foreign buyers swooped into this market. and across in the greater china region, it was a softer picture there, particularly for the shanghai composite at one stage was down at the worst, 3.9% on lingering concerns about more share i

i'm pilot for singapore airlines.when we started, we only had four children and we found out there were even more that needed help badly so we decided to build our own orphanage building. right from the beginning we gave them vaccinations, clothing, fo food. we can't give them anything more valuable than the proper education. ♪ a, b, c, d, e >> when my parents died i couldn't go to school. for me he is an angel. now i'm going to medical school. >> we are able to provide and teach them just be who you are, help others, and do it from your heart. so instead of searching for "deals" out there... you can go back to school for less, right here. save money. live better. walmart. there's no way to hide it. sir, have you been drinking tonight? if you ride drunk, you will get caught... and you will get arrested. >>> tough economic times people are less likely to splurge on vacation getaways so many in the travel industry have to make changes. here's gerri willis from our sister network cnn with this week's "money and main stre

our reporter is in singapore with the latest. >> as you said, details are quite sketchy at the momentthis is around 8.0 magnitude earthquake off the samoa islands. it did generate a tsunami with waves around five feet high. that pacific tsunami warning was for overall 20 island nations in the pacific. what we do know at this stage, there have been fatalities in western samoa. the police saying people have been killed by the tsunami, but we don't know exactly how many. we'll bring you the details when we do get them. at this point, it's still very unclear how many fatalities there have been exactly. what i want to do is put this latest tsunami into context for you. this quake, as i said, measured 8.0, which is strong. it is below the 9.1, around 9.3 magnitude tsunami we saw, earthquake that triggered a violent tsunami in 2004 in the indian ocean. that killed hundreds of thousands of people with waves up to 30 meters high. i guess the main risk right now is what happens in new zealand. over there the tv is reporting this latest tsunami could hit the eastern cape at around 9:44 a.m. loca

in terms of investment, we are on par with singapore and america.this president, you had as good relations as you did with president bush? >> ellicott implemented under this it ministration. neil: you expressed some willingness to take some of those gitmo detainees. >> whatever would help america and its war on terror, we would do. we gave a best brigade of georgian troops i strongly believe that we should help to stabilize afghanistan that is why we're sending more than 600 people there. bill: what if our president does not commit more troops to afghanistan? would you commit more troops? >>what would you do? >> i was talking to general petraeus the other day. he really was praising george ' a lot. neil: would you not be optimistic? >> i think it means that this administration will make the right decision. neil: which will be more troops? >> it is not up to me. neil: your security guard is getting antsy. >> i think george is a model of a nation that can survive. it can still be a friend of america. bill: we have to go to commercial. bicycle, i've mi

we have offices in london, singapore, tokyo, and chile to expand efforts abroad and help stay abreast of ideas and innovation and avoid technological surprise. most recently, we were ranked by several national magazines as the best place to work in the navy, number 5 in performance and advancement and was named most admired employer by the congress of diversity executives at the black engineering awards. our talented team includes graduates in leadership positions from jackson state, north carolina amt, south carolina state, st. paul college, an alabama state. we draw from the best to provide the best. we embrace the chief of naval operations loss that are made it must reflect the nation. -- reflect the face of our nation. in 1989, a dedicated program was established supporting undergraduate and graduate students at five schools. in 1992, that investment increased to $6 million and rose to $10 million in 1994. from that time to present, we supported 22 programs in minority institutions and provided educational support for over 1100 students annually. 9% of the students graduate on tim

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that's it from switzerland, and now adam in singapore. >> thank you very much, carline. >>> overall, a fresh trading week, and many markets were closed. let's talk about the ones that were open to north asia. the south korean kospi coming off the six month highs after a strong week last week, huge foreign purchases of equities. and while foreign buyers continue to be buying for the 12th consecutive session, the pace has slowed down dramatically. this market has converted from advanced to emerging markets. and perhaps the other reason, we saw some strength in the korean one, this is a negative for the exporter stocks, particularly the blue chips such as the samsung and electronics in terms of competitive currency. we saw some softness there, but the flip side, it does benefit companies such as costco. we did see that stock close higher. one of the biggest gainers, this is the world's fifth largest carrier. there's talk that the company's confirmed they are in talks on a potential contract to deliver iron ore. >>> let's go to the greater china region. we did see the shanghai, volatile

the government of singapore investment corp

but what i want to comment, i'm going to be in singapore in the next couple months. i was just there recently. when you go to the tall buildings, you look out into the harbor and you see rows and rows of essentially ships waiting for the export business to come back, for china as well as the emerging economy. investors need to be very careful on the emerging economy. right now u making that shift from an export economy back to an internal, or to an internal consumption economy is not going to be without bumps. i think investors should be very, very careful. i hear everybody saying, you should invest in emerging markets now all of a sudden china's down 20%. i think there's a caution that needs to be in place when investors make these sort of plays, especially when they hear strategists like myself come on or anybody else randomly say emerging markets. it's an important consideration. >> that's a very important point. dean, what about that. a lot of people are betting on china and the 8% growth that is apparently back for china, as being sort of the catalyst for the re

hong kong, singapore. >> all the c-minus students are going to go into financial services. they're going to do, peter, to financial service what is they've already done to doctors and physicians, cap their pay so they're all going to leave and we're going to have a bunch of dummies running banks and you're going to hate the dummies running the banks. >> or how you structure the amount they get. shareholders should decide, not you. >> they didn't do a very good job, did they? >> i want andrew hall to run citigroup. he's the guy to run citi. he knows how to make money. >> and pandit should be out of there. >> we agree on that. >> we agreed on that. that's a good way to end it. peter, you're terrific. jerry, you're terrific. you both had double cap withf w couple of extra shots. is the u.s. auto industry on the fast track to recovery? phil lebeau is going to have the full report when we return. automobiles are beating the street. gdp, profits, industrial producti production, they're all beating the street. so why does the smart money in stocks not understand? you're watching c

it will just scare banking talent away to singapore and london, and hurt the u.s. financial services industry and scare the talent from the regulated banks, like the 25 that the fed wants it take a look at, to other nonregulated aspects, that's a bad idea. it will just lead to more sort of the wild west atmosphere that may have brought us into this crisis in the first place. >> julie, why do you think this is a good idea? >> well first of all, the trends point to bank executives and other states make much more than they do anywhere else, so we're not scaring anybody away to singapore. but the prime point is it should be paid to long-term success, it shouldn't be tied to taking outside risks with the taxpayers money. i would say they could go to town. >> a good point, trent, right? if we're the ultimate back-stop, doesn't that invite regulation? >> well, i agree with that. i don't think the taxpayers should be the ultimate back-stop and i'm a little bit concerned about the notion that all the banks are too big to fail. that's a terribly frightening concept and somet

they knew that two members -- two al qaeda members of that meeting flew from singapore top los angeles in january 200020 monthsefore 91. now let's leave aside the catastrophe of 9/11 for a moment. here is the fbi investigating the death of 17 american sailors. and the cia refuses to respond to their request for information that would bringustice, would expose to whk did it? how itas orgized. because a meeting in malaysia was about the cold bombing. it was about about the 9/11 hijacking who happened to be the one time at the conspirators for the operations were together. so the cia refuses to help in investigating the deaths of these sailors. now another piece of it is this:ding the embassy bombings investigation in 1998, the fbi threw some brilliant investigation uncovered the fact that one of the bombers had gone -- after the explosion, to a pay phone and placed a call to a telephone number in yemen. the man who lived there was a man named ahmed. he was close to al qaeda. as it happened, bin laden called that same number from the satellite phone shortly afterwards. the fbi realized th

you can discount that, switzerland, singapore, sweden, den marc, the uk is at number 13.mber 30. should the u.s. have lost its top spot. let's bring in our trader. join kinehan. and bernie mcsherry on the floor. what do you say? >> it depends on how things play out in the next several months. we are going to be examining the financial services industry and regulations are going to be posed. hopefully those regulations aren't too onerous and we can return to the number one spot. >> joe, would you say america is number one in market competitiveness? >> i think we are number one. i don't think they are scaleable. we are scaleable worldwide. i don't believe they are. if we went from that point besides the fact our financial industry returning to its place where it was a few years ago we will be back to number one, no problem. >> joe, given you focus on derivatives what is the bet if gold can hold $1,000 and crude keeps going up? >> people want to see gold higher. it would be foolish to fade it. i tell people if you are going to fade those one way or another use a call spread

you know, tony blair started this by going to singapore in 2005 to make his pleading. >> right. >> vladimirputin went to guatemala city to make his pleading. i just can't imagine vladimir putin going to make that trip without knowing ahead of time that if he showed up he was going to get it. isn't that what we're looking at here? is that -- >> yeah. i find it hard to imagine that president obama would be making this trip without being pretty sure he's gotten some inside word that, hey, you know, the ioc, the olympic committee, is just right on the fence here and if you show up in person you can seal the deal. you know, other world leaders are going to be there, and michelle obama, as charming and effective as she is, what kind of a photo-op would that be with the other, you know, chief executives and the first lady there? it's hard to present the flotus when everybody's looking for the potus. that's what you've got here. the olympic committee is a fickle bunch. they like to be -- kind of like tv talk show hosts, present company excepted, of course, lawrence, but those who don't show up as g

and singapore tops the list intends. they didn't participate in pisa. finland tops in pisa. and it cannot be by accident that the policy the government of singapore is to recruit teachers from the top third of the ranks of high school graduates going to college. in finland does the same. as a matter of fact, in finland the universities accept only 10% of the applicants into the school of education that they receive. they only accept 10% of them. and there are cultural reaso for this that we can discuss, but right now as opposed to singapore and finland, what we do is we recruit our teachers from the bottom third, rather than the top third of high school graduates. and a reserve or indicated that 88% of the teachers in high poverty hools across our nation are in the bottom quartile on basic skill test for teachers. 88%. surprisingly, 11% are in the bottom quartile who are teaching in middle-class schools. so how can we expect our kids to meet the demands for the 21st century, to achieve a kind of result that we are looking for if our teachers aren't able to teach what our kid

in 2007, the british prime minister flew to singapore for the final pitch.he french president did not. this year the ladders of all four finalist nations will be in denmark friday. this is a fight brazil's president said, predicting he'll return with a victory for rio de janeiro. the white house said obama has already done plenty of lobbying for chicago. >> he has been working the phones, the vice president has been working the phones. >> reporter: the strategy carries political risk if the president comes back empty handed. >> the real embarrassment would be for him not to go to copenhagen and for the games to be awarded to another nation. >> reporter: the odds for chicago's bid have improved slightly given the news from washington but the bookies still give rio a slight edge. the president leaves here thursday night. he'll be back on midday on friday, a quick turn around. and he gets back just about the time the international olympic committee announcest winner. david wright, abc news, washington. >> a little more on the star power heading to copenhagen. n