zurich smi, that market up about 1.3%. and the dax up about 0.6%. one market in particular, it is france. let's look at the cac 40. this is the weak player at the moment. it's virtually flat at the moment. a lot of pressure on the banks for this particular market. the markets are relatively settled now. they were anything but earlier in the week, with steep declines of stock prices that sent investors into a panic. now, four governments have taken this step. they're going to reduce the volatility in the market by attacking speculators head-on. france, belgium, italy and spain, have banned short-selling for the next 15 days to come. that begs the question, what is this short-selling that they've banned? let's tell you exactly how you do it. what you do is you bet on shares falling. hedge funds do this by borrowing a stock. and selling off that borrowed stock with the hopes of buying it back later when they've fallen and they market the difference. naked short-selling is when you sell the stock without borrowing it first place. the e.u. legislator say

it was up earlier on and the zurich smi off by 2%. a lot moving around, a lot of volatility, andrew, not a particularly clear picture because we have seen some buying going on but i suspect that's withered away now. >> yes, absolutely. that's been a very sharp turnaround in the last hour or so on the markets because it was two or three hours ago looking quite benign considering the past few days. commodities like oil also gold have been making big moves as well as action in the equity markets. the two have been moving in sharply different directions, the price of crude as you see there down, it was hovering around a ten-month low at $75 a barrel tuesday. it's been up slightly in the past hour or so trading at $79.22 a barrel. still down $2 on the day. gold on the other hand has been soaring, the price hitting yet another record as investors continue to seek refuge in safe havens and gold is considered at least the safest of safe havens at the moment. $1749 will buy you one ounce of gold up $27. charles? >>> traders are cashing out and

t smi was marked by poor attendance. only the leaders of somalia and others showed up at the african unn donor conference. >> your presence here today once again, is notusan opportunity to make pledges, howeverodt. >>whe llnsf people in east africa face hunger, the crisis isotonneto food shtas. diseases are as threatening. t pledges wl help alleviate the suffering. the european union is warning that africa needs long-term solutions. organization said the money rais athe conference fall short of expected pledges. the united nations yst's still needs $1.3 billion to help the hungrin the one of africa. -inhe horn of africa. is the money raised at the meeting enoh me dierce >> considering the well over $1.5 billion required to dwi e crisis, the $50 billion pledged by the african union and the member states are nowhere near enoh. the aid agencies are hoping tt th cference is just the beginning. there are more donations to be made in the weeks to come. they haveomdippntnt about the political -- that is t sialf solidarity that

and the ftse 100 and the zurich smi. we have central banks like, for instance, the federal reserve coming out with statements saying it's going to be keeping rates on hold for at least the next two years to come. we did see the dollar falling in response to that yesterday, but now what we're seeing at the moment is a little bit of strength in the euro at 1.4373 against the greenback, 1.6251 is where the british is and the yen is at 76.70 at the moment. >>> here in asia the markets have closed obviously, and the relief rally we first saw in the u.s. certainly spreading across this part of the world. take a look at australia. it's up 2.6%. shanghai up by almost 1%. the nikkei up by more than one. back to australia for a moment, there's been welcome news for the budget airline tiger airways. almost six weeks after its planes were grounded by the country's airline safety regulator, tiger aways australia is preparing to take to the skies again. the ban of its flights has been lifted. the share prices you see there already soa

of smi be a long way from us but it's worth the effort to get here is a post of russia's far east has a rich history and a community that cares about this city and the future of its environment. download the official location. i pod touch from the top story. life on the go. video on demand tease my old costs and feeds now in the palm of your. question on the dot com. the history of this place runs through the centuries. was. a paradise for archeologists zoo all ages and ecological tourists. but one fateful night shots destroyed the harmony of life. past. how this republic got its life back. hoping dreaming and retreat into. the future of the. mission free accreditation free transport charges free. range and free risk free. to child free. download free broadcast quality video for your media projects and free media and on to our t. dot com you. india ulti is available in the movie the joys the hotels the isle of us the gateway hoto the grand imperial traditions the tallest western coast coromandel you can know what hotel the socialist goto says don't need to go and parkland reza said th

international success precious biggest commercial success in animation so far is the series called smi shari the popularity of the little round bellied characters is so huge that it is susan was made to distribute the good to an international but still the real pride of russian animation a non commercial project real works of art like the recently released harry bard in stop motion the ugly duckling with tchaikovsky's music as the soundtrack only why you should make use of money are currently being made at the old is trying to make a new company so use more film. and i think you will have the best people to ask what's the main difference between russian and american approaches to. well all the examples what we just saw. we can talk about success when. those aren't really deeply individual pieces been made by great artists and. targeted towards. you know mass production of the same episode of the same kind of episode like week after week after week and better examination is really great and it is great only and mainly because of that he does what he feels he has to do and exactly the wa

. >> for more information on today's show, visit tavis smi ley. tavis: >> to everyone making a difference -- >> thank you. >> you help us all live better. >> mission when interest supports tavis: myerlee -- tavis smiley. nationwide it on your side. >> and by contributions to your pbs station from viewers like you. thank you.

if there's not a lot of smi and everybody wants it, that price is going to stay high. fourth thing that i didn't mention yet. >> which is? >> one second. >> you got to try and fit in. you're not going to get anywhere dressed like that. >> all right. let me go put this on. >> love the look. >> much better. >> clipboard. no one can be a purchaser without a clipboard. all right? >> all right. >> hold it close to you like this so nobody can actually see your business. >> is there anything on this clipboard? >> absolutely not. and a pencil. you have to have a pencil. know the seller. these guys are big met fans, so i brought you a met hat. make us fit in. they're going to like you right off the bat. >> all right. good to meet you. >> know your product. >> how much for the jumbo? >> jumbo for 550 and the larger 450. >> these are 450. these are long island? >> those are from jersey. >> know yourself. >> is this your best price? >> that's my best price and the best quality. i have less quality for cheaper. >> no, no, no, i'm not interested in any less quality. >> know how high

same story for the paris cac, and the zurich smi. the market doing badly is the dax.ill off just slightly, was off by more than 1%. i'm going to stick my neck out and guess this is because over the weekend the german chancellor, angela merkel, said no, no, no, to euro bonds, eurozone bonds that is not welcome as far as investors in germany's export industries are concerned because they have the most to lose from a euro collapse. the markets idea is that without euro, without bonds whether see the euro in a great deal of difficulty. >> interesting. german stocks down 8% last week, charles, as you point out the uncertainty remaining there. in asia, markets bouncing around today as they tended to steady after another round of uncertainty last week. that's the numbers here. the nikkei down over 1%. hong kong finishing up by a half percent. shanghai going the other way. and the bse in mumbai, up 0.75%. what can we expect in the week ahead? mark, good to have you back. nothing has changed between now and friday, very difficult to read, you expect more volatility? >> i think

the xetra dax is still down in excess of 1.5 of 1%, ftse down in excess of 1% and the zurich smi so faray. still down by 0.75%. andrew? >> very similar picture. let's go to rami on how the markets did. not well, rami. >> they fell throughout the day. hong kong and shanghai led the pack downward. first to japan, because the strength of the yen as well as a bigger than expected drop in exports pulled the nikkei down closing 1.25%. when the end gets stronger, exporter share prices take a hit. toshiba and hitachi, down 4 to 4.5%. the hang seng was down 1.3%. it had been trading flat for most of the day but it fell in the last few hours of trading. the top gainer is the hong kong exchanges and clearing. it closed up more than .5%. this is the holding company for the hong kong stock exchange itself. it's in joint venture talks with the shanghai and the shengjen exchanges. the shanghai composite also down 1.6%, the biggest loser of all asian markets today. new annual housing data showed housing prices rose 4.3%. the composite itself has fallen more than 9% as anti-inflation measures have hurt

a scant gain there for the zurich smi. by the way swiss unemployment held steady at 3%. what asia, andrew? >> well, charles, as we've been saying, a much worse reaction, stronger reaction in asia to that downgrade today pretty much right across the region. obviously asia is an exporter. obviously u.s. is such a key part of the markets. if you take a look at the numbers there, you see it. that's the damage today. what i would say is it was worse earlier, so there's something at least a little bit of relief toward the end of the day. the nikkei down 2%. all the key markets there. shanghai falling more than 3. 3..77%. there has been a catch-up going on. the strategists now in bad territory. down more than 20% from its high in the current cycle so australia certainly feeling the brunt of the selling globally as the concerns about the site of the global economy and still the euro debt crisis concerns play havoc, certainly in this part of the world, charles. >> okay. we're going to return to a key partet of the main story, that is moves by european central bank to buy up gover

quite strong gains for the siouxic smi with big banks like british suite much to the fore.whole of the european indices playing catch-up with the rally we saw on friday on wall street. andrew? >> yes, absolutely. similar story here. wall street keepings in asia in the start of the trading week, charles. investors digesting the news out of japan the new prime minister is indeed the former finance minister. so expecting at least mr. noda will bring some relative stability to economic policy. the market up by two-thirds of 1%. hong kong also up. look at shanghai. this is a story. talking about beijing moving aggressively on new anti-inflationary measures on friday. sort of snuck in when most investors were focusing on ben bernanke and what was going on with hur aricane irene. the moves by byren bernanke hast made it into the market yesterday. >> and regardless of difficulties getting to work, trading on wall street will open. spamped t spared the worst of hurricane irene. the u.s. futures, what investors have to look forward to this week. up for the year. dow in the middle and

the other european markets having quite a buoyant day, zurich smi up 1.1%. >> nina, we're getting towards hour. that's it from us for this edition of "world business today." thanks for joining us, i'm andrew stevens in hong kong. >> i'm and i'm nina dos santos at cnn in london. you're watching cnn, the world's news leader.

the likelihood of irene actually disrupting smis on the eastern seaboard of the u.s. already sent again and oil prices higher on thursday. now, utility companies are also warning about pretty extensive power outages in the affected regions. they're preparing for strong winds to top he will trees and knock down power lines if the storm does make landfall in those areas. for some indication on the financial damage, experts say that's reason's path is looking very similar to hurricane gloria's, that was category 3 storm that hit the u.s. east coast back in 1985. it cost a total of $900 million. but what i want to show you is that that pales in comparison to the costliest hurricane ever on record, it is of course hurricane katrina standing at $81 billion. it was another category 3 storm that of course devastated parts of the gulf coast back in 2005. >>> and on top of the financial costs, it's the damage hurricane irene may do to the country's financial center that's also causing concern. irene could be the most destructive hurricane to hit new york city since 1938 and the

the zurich smi up as well. quite a strong day. continuing to rally. the optimism that seemed to have stemmed from the situation in libya is continuing. although there's been a lot of skepticism as to how long this rally can last. what about the euro then? >> you say it's volatile out there. it all started in the u.s. yesterday with pretty reasonable gains yesterday and that's what it's looking like today. at this stage, charles, in for two days of gains and pretty strong gains as well. if you look at the early reading on futures, the s&p up by nearly 2%. >> i think we'll take it under the circumstances. if moammar gadhafi is toppled, what then? could his fall from power have a profound effect on the arab spring? we'll look at that straight ahead. >>> forces to seize balance immediately and make way for a smooth transition. the international will do its part to protect civilians from harm. >>> in addition to the u.n. secretary general, other diplomats are taking key roles now in the libyan situation. turkey's foreign minister is set to fly to the rebel

so is the dax, zurich smi up by less than a quarter percent. some moves, we're seeing bargain hunting, things like luxury goods and commodity stocks being bought as well as the banks. quite a broad-based recovery for now, anyway, andrew. >> buying electric. that says something about confidence or maybe it says the rich are recession proof. who knows? in asia, stocks have risen for a fourth day in row. also by the unexpected strength of the u.s. consumer. the u.s. could be headed back into recession. that was how the markets ended up. the nikkei up 1.1% as the new prime minister was elected by the parliament. hong kong up 1.7: strong performance. shanghai continuing to follow concerns about the inflation picture. financials still under some pressure. stocks in taiwan closing higher today, including a big surge by precision. that's the world's largest contract electronics maker. despite a drop in profit of more than 20% of $447 million. the stock was up by almost 7%. that's on second quarter improvements in hon, hai's profit margins. they make ap

the cac up about 1.5%, and zurich's smi about 1.25% down. kyra, we can't really look too closely at these numbers at the moment because, of course, we've seen three very brutal sessions leading up to today. i think the change we're seeing today is because investors are looking for some clear, decisions, and clear words from the fed. because that's what we've been lacking in the markets at the moment. we're seeing a lot of volatility. a lot of uncertainty. and that's why investors are cashing out. they've been looking to their policymakers for clear direction and that's been lacking. here in europe, it's been seen as the policy leaders are reacting to what's happening, rear than making preemptive decisions to see -- to try and stem all the nervousness in the markets. kyra? >> okay, leone, thanks. now we've tackled the economics. let's talk about the poll tinges. the white house facing heavy pressure. brianna keilar, what are some of the things the administration could consider? >> you know, kyra, it seems that at least the strategy that the w

we've seen them between 2% and 3% lower and smi in switzerland doing the same thing. the day slightly higher. two reasons for that of the over the weekend, we got a statement from the g-7 ministers, saying they were committed to restoring confidence. they would take whatever action necessary to restore confidence. although, they didn't say what they were planning to do. we also got a statement from the european central bank in which the central bank said it would buy back bonds from italy and spain in whichware seeing the yields jumping quite highly, to unsustainable levels. that did do enough to lift the markets at the start of trading. they have gone back down. the reason for that, kyra, obviously, everyone is looking to see what happens on the stock market with the s&p downgrade. hanging over europe like a dark cloud at the moment. people are just concerned. it's very difficult to resolve at the moment, kyra. >> leone, thanks. >>> to asia now. anna corrin, tell us what's going on from hong kong. >> it started off here. asian pacific was the first region to react to

to talk from an angle that most people don't usually see which is smied the buildin inside the. >> withverything stripped off, all the sheetrock, and the ceiling. you get to see the bones of the building. >> and the ventilation and the fire protection. so this is a really unique opportunity. should be a lot of fun. feel free ask questions as we go. we'll here with path buscovich, engineer, engineer for many of the high rise owners in san francisco. we have other snerkts from the e department of building inspection. we're going to start right now by walking down into the concourse lower level and take the freight elevator up. so come on with us, okay? [ ♪music ] >> okay. we are up here in one of san francisco's major high rise buildings, one of the tallest buildings. not the tallest but one of the tallest. >> the tallest occupied floor building in san francisco. >> everybody has a slice of really soon. actually the tallest building is the transamerica pyramid building. you could say it's the sutro tower, transamerica pyramid is the tallest building. we're here and we have the unique oppo