u.s.-africa summit that is on in washington. the summit comes as the u.s. has also been losing the trade war with africa to both china and the ee you. but the white house now says $14 billion in investments in africa are on the way. philip crowther has more. >> it is in this hotel in washington, d.c., where the deals will be signed between businessmen from the united states and those who have come here from africa, but also the big ceo's on the biggest american companies from coca-cola to general electric coming here to meet with 50 heads of the african state. the obama administration has insisted this is not a summit where it is about catching up with china or competing with china for a slice of the pie in terms of investment in africa. but there is quite a bit of catching up to do for the united states because the first of such summits between china and africa has already happened in 2008. this is the first one between the united states and africa. this is a summit that has been slightly or largely overshadowed, depending on your point of view, by the outb

u.s.-africa summit. for more on that, let's bring in our africa specialist. thank you for speaking to us. the u.s. is far behind both europe and china when it comes to trade with africa. u.s. trade with the whole continent is only about a third of that of china or europe. do you think these promised investments from the president are enough to catch up? >> not at all. these promises are yet to be realized. he is a weakened president. his policies across the globe -- yesterday, a general of the u.s. army was killed. in syria, iraq, everywhere in the world, he is showing weakness. he is following in the footsteps of the chinese. he cannot compete against the chinese or the europeans. america does not seem to know -- they expect africa to show leadership in terms of good governance. but using this talk about the rising africa that some people in the western world are talking about, this is a problem that remains very serious from boko haram -- mr. obama is out of the loop. the money will be spent by foreign multinationals. they have to double check the conditiona

their continent above its problems. >> a strong foundation. >> we talked to the africa desk and started by asking if the u.s. has neglected africa and is now playing catch-up? >> in the past we have seen a china africa summit, we've seen a turkey africa summit, we have seen in the africa summit, the only thing we did not see was a u.s. africa summit. this is the first of its kind. engagement of the u.s. in africa was pretty much limited to security in the past. i think harrison, for instance. i do think that obama wanted more engagement with africa when he came into office. the problem is from the first day he placed -- faced plenty of challenges. he had economic crisis, he had the crisis in afghanistan, he had the crisis in syria. i do not think it is a case of him not caring about africa, it is more a case of him not having the time to deal with africa india tell -- in detail. >> they developed strong ties in china with africa, did the u.s. miss an opportunity there? >> the u.s. stopped caring about africa at the end of the cold and member a british magazine publishing a story saying that africa was a hop

roads are closed for the u.s. africaummit. >> one of several stories we're following to get you up to the minute the minute you're up. we'll start with kate snow in atlanta with more on the ebola outbreak. >> reporter: good morning. well, here's what he know so far. there are two americans infected with ebola, both working in liberia for a charity organization. the first evacuated over the weekend and brought here to emory university hospital. it's dr. brantly. we learned that he did receive some kind of experimental medicine before he left liberia which may help explain why he was able to off off the ambulance on saturday surprising a lot of people here. his family burst into tears. the family says he's in good spirits. we know from the head of the cdc he seems to be improving. the second patient meantime, nancy wrightbol will arrive as soon as tomorrow. >> certainly a topic that is sure to be a big part of the discussion at the summit here in washington. >>> and roads will be shut down across tooes for that u.s. africa

u.s. businesses to africa, part of the shift from usaid to u.s. investment.as president obama hosts a summit of several dozen african leaders. more

u.s.-africa summit investing with the next generation. this summit presents an excellent opportunity to enhance the partnership between the africa and the usa. since its inception by congress and engagement by the administration and broad-based employment across africa, since 2000, it has been my wish to be an advocate for agoa. hence, like many in this room, i am aware of the potential for -- as a catalyst for africa and u.s. engagement. we hope to build investment and trade between the u.s. and africa. on this auspicious occasion, and as we seek to strengthen our partnership, let's reflect upon that each experience in the past 14 years is building toward the future. this should be done within the context of africa that is aspiring to be tasteful, integrated, and prosperous, and based on inclusive growth. africa that will continue to be young and growing, and over the next decades a continent that inspires to enforce good governance and respect for human rights, justice and rule of law. in order to a compass this, it must invest in childr

u.s.-africa summit that kicks off. uss the basis -- business applications of the ebola crisis in africa. we will discuss on "bloomberg surveillance." ♪ >> this is "bloomberg surveillance." i'm scarlet fu with tom keene and adam johnson. futures are higher. michael kors is up by almost 9% in premarket trading. >> good morning, everyone. a bank has failed. this is the former largest lender and portugal. -- in portugal. it is going to cost taxpayers nothing. with us, charles calomiris and hans humes. it is free. it will cost taxpayers nothing. [laughter] >> no downside. deal the problem is there might not be any upside. thank you for putting this chart thank you for putting this chart up. good bank-bad bank. now they are separate, except, are they really? charles, that is my question. >> that is a pretty special case. >> yes. >> i think one of the constructive things to say about it is to construct it with the cyprus bank. catastrophic was because they went after the wrong parties. they went after the depositors. here, it

u.s./africa summit in washington, d.c. ere he's expected to focus on a wide variety of topics important to african nations and to the u.s. now, shortly before the show, i spoke with senior white house adviser valerie jarrett about the summit as well as the president's domestic priorities for the remainder of 2014. joining me now is white house senior adviser valerie jarrett. thank you so much for being here. >> my pleasure, joy. how are you doing? >> very well, thank you. this is an interesting and exciting week. i want to start by asking you what the white house hopes to get out of this summit. >> well, as you know, we have over 51 heads of state who are here, 40 of them this morning attended a white house business forum where we announced $14 billion worth of new investments from u.s. companies, companies such as coca-cola and general electric and ibm, mastercard. a whole range of u.s. companies, small, medium, and large, who have confidence in africa and view it as an opportunity to invest. i think, joy, this is one of t

u.s.-africa leader summit taking place in the nation's capital. as been involved in sessions at the u.s. state department. once he begins his remarks we will bring you the left coverage. u.s. businesses including ge and blackrock have pledged investments during the summit. hans nichols has covered for us all weekend and he joins us from washington. what should we expect to hear from president obama? out of for obama to come the session which is about governing for the next generation to talk about the obligation that african heads of state have to their people to clam down on corruption. you can have all the billions of but unlessthe world you have transparency, unless you have good governing institutions, it is going to be frittered and it will not lead to a strong, vibrant middle class which will lead to strong consumer sectors which will lead to sustainable growth. one of the key components is the last session and that is governing and anticorruption measures. >> i wonder if you could detail the private initiatives and how there is an edge for p

with the leadership in this room, and we will keep the u.s. africaconomic partnership opened for more growth and success. we will keep the united states and africa open for business. your business. thank you very much. enjoy the day. [applause] >> the heads of 50 african countries meeting in washington this week for three days of talks on u.s. companies doing business in africa. one: 45 eastern, vice president joe biden will be addressing the group. it will be followed on a discussion on the issues impacting development. secretary of state welcomes the panel, and charlie rose moderates the discussion with the heads of four african countries. wrap up theama will session with comments at 2:45 eastern time. announce $14d to billion in commitments by u.s. businesses to invest in africa. we will be live with all of that here on c-span. members of the house and senate tweeting about their activities during the five-week august recess. sayssented steve womack delivering meals on wheels to fayetteville, arkansas seniors. weeding i'm atnd the tomasson upson r

u.s. has been at war with africa for the last eighteen months how does the military industrial complex plan of the u.s. desire to kind of get more involved in the continent seeing evil we will something . the american drones flying over nigeria even over the congo this has been a plan that's been actually written way early in the two thousand by the heritage foundation discussing the need of having a u.s. military presence on the continent africa needs many things but the last thing they need is american soldiers to come providing peace and security africa does not need that what we need is actually for it but unfortunately because the leaders of african countries do not represent the people we seeing little by little african leaders allowing u.s. military there george bush to not get it done by the way. when josh was president he tried to travel to africa to have african leaders accept the african commands fourteen nations publicly came out saying no but now this is the context we have the so-called son of africa in barack obama and people are forgetting that the president of one of the mo

u.s.-africa forum lead to billions of dollars -- with a main street perspective. today, the u.s.-africa forum leads to beings of dollars of investment. and will disney's greatest -- latest earnings be magical for investors? ♪ to our viewers here in the united states and those of you joining us from around the world, welcome. we have full coverage of stocks and stories making headlines today. phil mattingly previews today's prime earnings. at deals under bob eiger at disney. let's go to hans nichols in washington. >> it has been a day of deals, a day of investment. $2 billion from ge, a total of $17 billion. that is the announcement here. i'm joined by the president of the world bank, jim kim. is this summit beyond your expectation? >> we were very surprised. what we had hoped would happen seems to be happening. what is exciting is that the leaders in the american business community, who probably did not know much about africa are getting a very different sense of what is going on in africa. we've been saying for a long time that we've been growing. the debt to gdp ratio is about

u.s./africa relations. but last week, there was a summit of a 00 young africa leaders. 50,000 young people from the continent of africa applied. 500 were selected from every single country. not only are we paying attention to today, we are also preparing for africa in the few tour. this is under his leadership. this is something i know will be written about in history and it's a shame there hasn't been more attention. >> written about it in history, joan. i was down there monday. what is -- what does this do to the president's legacy? >> it struck me, so many people in the country have such hopes for him and a need for him, but one question from a reporter from the standard, showed you the high hopes that africans have of their african-american president and for press freedom and recognizing -- >> and to get incarcerated journalists out of jail. >> yes. so much is expected of him. it is a himicrocosm and it is fm an african-american journalist and not american journalist. >> and a gentleman from the standard

u.s.-africa economic partnership open for more growth and success. we will keep the united states and africa open for business. your business. thank you very much. enjoy the day. [applause] ♪ ♪ >> the biggest lesson that i've seen between successful investment and successful business partnerships is the capability of having people on the ground that can make decisions. >> the right local partner is critical. >> the key to understand each other and to have the same objective. >> and taking time. >> it took us two days of being on the ground in nigeria with expenses before we actually entered into a partnership. >> support of government policies are crucial. >> waiting to partner with the firm. >> really looking at which governments are very open to invest in. >> the results in uganda, this hydroelectric dam. >> african businesses are looking for expertise. >> help you do it bigger, faster, better. >> and american companies that are in it for the long haul. >> helping build local companies, then there is a long-term future. >> we have some of the human

u.s.-africa business forum happening right now in washington, d.c. obama is hosting several dozen new -- several dozen leaders there and just announced $14 billion in commitments in u.s. businesses investing in africa. hans nichols is there and joins us live. take it away. emily, thanks so much for having me. i'm joined by jay ireland, the ceo of ge in africa. thank you for being with us. >> great to be here. >> we just heard $14 billion in new deals. fromllion will be coming ge walk us through where that will be. is 2.4 billion dollars in the next year, actually. it will be across a number of different countries and areas. focus on localization, capacity building, skills building, as well as investment in facilities for us. commendation of some manufacturing facilities that we will see in night -- in algeria, nigeria, angola, south africa, our customer innovation center in south africa. there will be some skills building and mobilization work in mozambique. in ethiopia, local assembly. and continued growth in ghana, and in there, region. >> you have

u.s. hfer africa leaders sum -- u.s.-africa leaders summit will lead to a number of road closures and detours in d.c. the summit begins today and runs through wednesday. >>> california is dealing with a variety of weather issues. heavy rains in the southern part of the state caused flooding and mud slides. in northern cal came, wildfire -- northern california, wildfires continue to burn fueled by temperatures higher than 100 degrees. the drought conditions and dry lightning. what about here? >> the dense fog advisory is also expanded. it's not just up north. it had included prince william and fauquier counties, down through culpeper and fredericksburg. now it's west of the blue ridge to harrisonburg where some of the advice bibties are a quarter mile -- visibilities are a quarter mile. the victs as we take a -- visibilities as we take a look at them, a quarter mile from frederick to hagerstown n. is coming down toward martinsburg as well. luray and harrisonburg and warrenton a quarter mile. give yourself some extra time.

u.s. businesses to africa, part of the shift from usaid to u.s. investment. the commitment comes as president obama hosts a summit of several dozen african leaders. more trouble for general motors -- prosecutors want to know more about the general motors subprime auto loans. gm is cooperating. says russia now has 45,000 troops and hundreds of tanks on its border. the ukraine says they are making gains against russian official. front, the corporate coach investors waiting for a sign of a turnaround and they have a glimmer of hope. ae handbag maker reported smaller drop than expected, but michael kors is still eating coach's lunch. julie hyman, what is coach doing right? >> they hired a new designer almost one year ago and the reception from the fashion press has been pretty good. it is not clear if customers will buy it. that will come in the next couple of months. coach did post a drop in comparable sales of 17%, but 21% was predicted. 7%, butrevenue was down again, not as bad as predicted. for many dominant years and sort of rested on its laurels. >> the des

africa. another american has to fly back to the u.s. it was 100 years ago today that germany invaded belgium and britain declared war. heads of state come together to remember a major milestone in the great war. welcome to our viewers on public television in america and also around the globe. tonight, israel and hamas have agreed to a 72 hour cease-fire starting tuesday. egypt put forward the proposal. joint talks with palestinian negotiations in cairo. there were firings on both side of the border. we begin our report at hospital in gaza city. you may find some images disturbing. old and three years already scarred by war. shrapnel punctured his abdomen. he is stable but too shocked to even cry. he was among the casualties to arrive at the hospital on the day of an israeli cease-fire. >> this is a war against children and families. they should go and fight soldiers, not the children. what did they do this for? i don't think he did anything. >> survivors told us israeli missiles hit their homes, and attack that came without warning. fou

u.s. vancouver africa summit coming up. it will be -- u.s./africa summit coming up this week. africa with sun one -- africa is one of the fastest growing continent, in the world. you have all sorts of other countries like china and brazil and india deeply interested in working with africa, not to extract natural resources alone, which traditionally has been the relationship between africa and the rest of the world but now because africa is dproing and you have thriving markets and entrepreneurs and extraordinary talent among the people there and africa also happens to be one of the continents where america is most popular and people feel a real affinity for our way of life. we've made enormous progress over the last several years, in not just providing aid to africa, helping countrys that are suffering from malnutrition or helping countrys that are suffering from a.i.d.s. but rather partnering and thinking about how can we trade more and do business together. that's the kind of relationship that africa is looking for. i've had conversations over the last several months with u.s

the u.s. africa summit the first ever. we have three reports from our correspondents on the african continent about what the summit means for eask. >> heads of state from kenya, uganda, and south sudan, how to convince investors to put money into mega infrastructure projects, all at a cost of $24 billion. now currently china is a main funder and the fact that the leaders have been looking more towards the east for partnership is worrying the west. the qc is a big concern. somalia, al qaeda affiliated, and trade, the qc, mutual respect for u.s. is going to feature high on the agenda. >> the meeting with president barack obama is unprecedented. the summit is seeking focus on agriculture, democratic governors electricity supply and others. with countries like nigeria, mali and others, they would like to see the united states secure a more active role. in nigeria, thousands have died because of fighting between security and boko haram. >>> on the african front, more african products. few expect to see the united states handing

u.s. and africa.engthen our reflect uponlet's that each experience in the past 14 years is building toward the future. this should be done within the context of africa that is aspiring to be tasteful, integrated, and prosperous, and based on inclusive growth. africa that will continue to be , and over theing thatthe case, a continent inspires good governance and respect for human rights, justice and human -- and rule of law. in order to a compass this, it must invest in children, young people, and in their health, education, skills, and technology to produce productive citizens and to give them a voice and participation in society. it is for this reason that africa is pursuing a skilled thousands in train these endeavors. any post 2015 u.s. africa cooperation must draw lessons from past remarks and build a new arrangement taking into account the current global economic environment. for example, unlike during the ago iten the first agoa was -- the first agoa was imagine a plan for trade and agenda. the

u.s. investment in africa. do you help develop a u.s. /african relationship focus more on growth rather than on crisis management. for too long, it was largely rooted in meeting the challenges and crisis of the moment kerry told an audience of dignitaries. we want more american companies to be here, to invest here, to unleash the power of the private sector in africa and to create jobs in america, kerry said, even while warning of the damage that conflict and corruption and curbs on freedoms can do to africa's potential. he is on a five-day visit to africa with stops in ethiopia, south sudan, angola. next up is randy from fort worth. should the u.s. invest more in africa? caller: first of all, i agree with the caller from maryland. i think it is a terrible mistake. if you look at the trading policy we have with china, it was a disaster. the solar panels. we lost a lot of money. i just don't trust baurgs to be -- to -- the obama administration. they just do a terrible job. so the last comment is that i feel that this banking from g.e., i

it's a timely event to have the u.s. africa summit here. if the outcome of the summit is to make the americans more familiar with the diversity and energy, vibrancy of africa. that'll be a benefit. >> absolutely. some analysts see it as a response to china's decade-long surge investment and tried. my colleague, she talked with a professor, deborah, and she's a director. international development programme, and the china africa research initiative at john's hop kilometres per hour -- hop kilometres per hour, this is what she had to say. >> over the past decade chinese trade and investment in africa skyrocketed. for example, in 2013, chinese trade was at $220 billion with the continent. the united states was $85 billion. they are more than double, getting on to triple our amount of trade. it's not just imports of oil from africa, it's exports of the goods and services. this is where the united states wants to catch up. >> a quick programming note, you can see more of patricia's interview on "real money," this monday at 7:00pm eastern. do you

-africa on the u.s. business forum. ls is there with africa's richest man who made his $25 billion fortune in cement and commodities. he is standing by. morning, thank you very much for joining us. new 5 billion dollar investment teaming up with steve schwarzman and blackstone, what will you do with it? how quickly are you going to exit? be in theing to sub-saharan average in countries , nigeria, tobu, tanzania ,ghana and the likes of them. we are going to invest this money in terms of a generation of power and transmission of power and distribution of power, infrastructure in terms of gas pipelines to make sure we unleash the opportunities. at the gapok especially in power generation, africa is enormous. we agreed to team up. in order toorations put money 50/50 -- we are going to go into that kind of put 50%ship where they of the money up and we will roll out. >> how do the chinese do it? dude they do 50/50? >> they don't, they go on their own. the chinese are not involved in what we are doing. cement and they are not i

u.s./africa summit. he says he had a diabetic attack behind the wheel last night that caused him to crash his car on pennsylvania southeast. >> my blood sugar went low, and when it does that you can become disoriented. in fact, you can die, really, if it got so low. but god is good to me. and i got disoriented and went to the wrong side of the street. >> sources say that police cited him for driving on the wrong side and having expired tags. >>> an actor from the hit show "the wire" stabbed at a d.c. nightclub is thanking his supporters. it was on i street northwest. at least two people attacked glover on the second floor of the club. glover said he had to defend himself against, quote, unknown attackers. glover, who's also a local go go musician said he'd been at cafe asia to support another act. he says he's out of the hospital and recovering right now. >>> another nightclub stabbing in the busy u street area under investigation. a man and woman were taken to the hospital in critical condition early th

africa. there is an untested and unapproved drug in the u.s. at appears to be helping some of the americans who are infected. is your administration considering sending supplies of this drug if it becomes available to some of these countries in west africa? could you discuss the ethics of either providing an untested drug to a foreign country or providing it only to americans and not other countries harder hit if it could save lives? >> i think we have to let the science guide us. i don't think all the information is in on whether this drug is helpful. what we do know is the ebola virus both currently and in the if you haverollable a strong public health infrastructure in place. the countries that have been affected are the first to admit what has happened here is public health systems have been overwhelmed. they were not able to identify and isolate cases quickly enough . a strong truste relationship between some of the communities affected and outlook health workers. it spread moree, rapidly than has been typical with the periodic ebola outbre

u.s./africa leaders summit, also a first, this first scene yesterday, the first ebola patient to ever be ited states. this is the largest ebola outbreak in west africa we've seen yet and with the largest u.s. west african summit hours away, some are asking should the public be worried? >> no. really there's no. if we get ebola to dominate the summit, it will really be counter productive. this is a very important african summit. it's important for interactions between ourselves and the emerging economies. >> reporter: that's not to say other officials aren't monitoring the outbreak closely. already leaders of liberia and sierra leone canceled their trips to d.c. and the cdc put an air travel advisory in place and with regard to the african delegates participating -- >> they're screening on the far end before they leave and they're screening here. >> however, this outbreak is different in the three west african countries is because it's crossing national boundaries. >> reporter: the opdoctor says there has been a ed on for a while and they'll be able to test a volunteer on a hopeful vaccine

u.s./africa leaders summit. government and business delegates from 50 african nations are in washington to attend the. officials at the world bank are offering help. they authorized up to $200 million in emergency assistance to guinea, liberia and sierra leone. they say the funds will be used for medical supplies and to help regional economies. >>> corporate executives in japan seem to be getting more optimistic about the economic outlook. their companies plan to boost capital investment in fiscal 2014 at the fastest pace in 24 years. the study was conducted by the development bank of japan. officials say domestic corporate investments are expected to increase 15.1% from the previous year, reflecting the country's economic recovery. that would mark the third consecutive yearly increase if the investments are implemented as planned. capital spending in the manufacturing sector is expected to climb 18.5%. investment in the nonmanufacturing sector are seen to rise 13.2%. automakers are spending more to produce fuel

u.s.-africa summit, president obama held a news conference where he discussed u.s. relations with africa. this is 40 minutes. >> please be seated. as i think everyone knows by now, this first u.s.-africa leaders summit has been the largest gathering we've hosted with african heads of state and government. i want to begin by thinking the people in washington, d.c. for -- thanking the people of washington, d.c. for helping us host this historic event and especially for their patience with the traffic. as i've said, this summit reflects the reality that even as africa continues to face great challenges, we're also seeing the emergence of a new, more prosperous africa. africa's progress is being led by africans, including leaders here today. i want to take this opportunity again to thank my fellow leaders for being here. rather than prepared speeches, our sessions today were genuine discussions. a chance to truly listen and try to come together around some pragmatic steps that we can take together and that's what we've done this week. first, we made important progress in

u.s. and africa. >>> thank you, angie. there could be more water problems on the way for cities around lake erie. drinking water in toledo, oo, has been deemed safe but the algae blooms in the lake are not going away. they are the root cause of the toxins in the tap water that kept the city in a crisis for days. scientists say the blooms are actually growing and will peak next month. water managers added chlorine and carbon to the intake system to prevent further contamination. and if you think traffic is bad here, the weather is making it worse in las vegas. right now counties around vegas are under flash flood warnings. heavy rain fell last night causing floods that backed up traffic and even swept cars off the road. >>> 6:18 now. amazing new video into our newsroom overnight of a car trapped in that flood. you can see that car is halfway in the water submerged and the water is rushing and churning beneath it. that car is empty but there were more. >> get out! get out! hurry! >> what you just heard was rescuers screaming

addressing these challenges will enable africa and the u.s. to have a partnership with significant benefits for africa and the u.s. the eu and its member states continue to call for investment, with emphasis placed on a reliable that will complement the efforts of african countries and bring transformational change in their economies. support of integration efforts, especially on critical infrastructure will enable the speed of integration on the continent. plus the value of additional african exports, and provide adherence to the jointly agreed actions. the global trading system is undergoing significant change. the advent of trade agreements within the context of an onyx -- uncertain development agenda will affect the ability to nhance its share of global trade. it is therefore within the context of our partnership good to find ways to exchange notes on these important issues. in conclusion, the litmus test of the partnership would be in its ability to improve quality of life, including the safety d ty of the people of the united states, afri

u.s.-africa business for him. we will hear from vice president joe biden and secretary of state john kerry. then a panel discussion with the presidents of south africa, tanzania, senegal, rwanda, and tunisia. >> ladies and gentlemen, please welcome the vice president of the united states, joe biden. ♪ >> good afternoon, everyone. you must be tired by now. butably your 412 speaker, i'm flattered that i was invited. i want to welcome visiting heads of state, the ministers from almost every country in africa, members of the diplomatic corps. members of congress, entrepreneurs, investors from across africa and the united states. cohost,o recognize our a very good friend of mine, a great guy, the former mayor of new york city, michael bloomberg , whose commitment to developing -- [indiscernible] his commitment to the great potential of africa is matched only by his vision for that development. champion of american business, our united states secretary of commerce penny pritzker. africa, i you from would recommend, get t

u.s. companies in africa. speaking at the u.s.-africa business forum in africa, president obama wants to shift the u.s. to form an economic partnership on the continent. he said africa was important because it's home to six of the world's 10 fastest economies. >> flagstone will invest in afghanistan can energy. coca-cola will bring clean water to the communities. g.e. will help to build african infrastructure. ma mary yacht builds hotels. companies are announcing new deals in aviation, banking, construction, worth more than $14 billion, spurring development across africa, spurring goods stamped with the label made in america. >> and argentinian human rights activist who campaigned for families to be reunited with missing children, found her own grandson 35 years after he was tape at birth. we have the story from buenos aires. >> reporter: it was the moment that she had spent 36 years hoping for. the news that her grandson was alive and wanted to be reunited with his true family. she lived it with much of an emotional argentina cry

u.s.-africa partnership. if we work together, if everybody gets this right, this meeting in this moment, and the days ahead, can literally become a pivotal, defining moment for our future history and the world. thank you all very much. [applause] >> please welcome to the stage the president of the republic of , the president of the , thelic of senegal president of the republic of south africa. the president of the republic of tunisia. the president of the united republic of tanzania. moderator, coanchor of cbs this morning and executive editor, charlie rose. [applause] >> thank you very much. in the days of the summit that it is historic, you heard the vice president and the secretary of state talk about its significance, that it can change things, that it is a summit that is historic. you have also heard that this is africa's moment, that this 21st century is africa's century. you know a lot of people not just in the u.s. are paying attention, but african leaders are here. as we hear from people in the west

u.s./africa relations, but whether we see major deals from the u.s.ent perspective are less and less. i think we won't see much from the u.s. corporate. whether the u.s. government is happy or prepared to match ch a china's $10 billion in concessional loans, i don't think so. >> that's a crucial point as well, trying to get in there, at least at the same time as china and not be late to the party as far as that is concerned. tom, great to talk to you. >>> now we have to take a quick break, but still to come on the show, in vogue or overexposed? michael kors will report before the bell. some say the firm is about to lose its cool. we'll discuss it. and this is how the futures are trading ahead of the opening on wall street. >>> welcome to "worldwide exchange." i'm julia chatny and these are your headlines from around the world. $4.9 billion put on the table creating a bad bank for toxic assets sending shares to the top of the european markets. >>> hsbc turns negative after profits drop slightly more than expected. the bank is cooperating with various s

u.s.-africa leaders summit, george w. bush spoke about efforts to fight hiv in africa and a program to fund cervical and breast cancer. this is 40 minutes. [applause] >> thank you. thank you. it is an honor to be with you. that this is called the first spouses event. [laughter] not the first ladies event. men in there are a few the audience whose wives are more famous than they are. [laughter] i am one and rightly so. i would expect that obama would say the same thing. michelle al-ahram, i thank you for the great -- michelle and laura, i thank you for the great example that you bring to the office of the first lady. it is great to see friends again. i also want to give a shout out to our daughter barbara. not many things have convinced me to come back to washington. [laughter] the first ladies summit is one. the other is he able to dine with our dear daughter who is a fabulous young woman making a big difference in global health around the world. i love you, baby. [applause] it was an honor to see dr. biden again. i am ple

u.s. as africa's biggest trading partner. nt obama touted the potential, including some one billion dollars in business deals being announced this week. >> i've had conversations over the last several months with u.s. businesses, some of the biggest u.s. businesses in the world, and they say, africa, that's one of our top priorities; we want to do business with those folks, and we think that we can create u.s. jobs and send u.s. exports to africa, but we've got to be engaged, and so this gives us a chance to do that. >> woodruff: africa already boasts many of the world's fastest growing economies. and is home to major deposits of gold, oil and other resources. there's also a huge potential work force, in 2010, 70% of africans were under the age of 30. but parts of the continent remain beset by violence, corruption and human rights abuses. in libya, rival militias continue battling for control of tripoli's international airport. and in south sudan, hundreds of thousands face hunger, many of them fleeing fighting between the gov

u.s. interest in africa is purely to challenge china in the meantime the u.s. has been boosting its direct foreign investment into the continent trade has increased almost a hundred billion dollars but that number is nowhere near china's involvement there johannesburg based journalist richard public thinks the u.s. is too late to realize africa's potential. it really is a multi it's an issue that is very very old and you if you listen to someone like michael bloomberg be it's may. be a city street that we should be. the station to get big you can african nations and concentrate on africa as a market they really want to put it back behind. their companies and a initiatives including on the african continent most. likely administration is very late woke up to the fact that i have very very important part of the world what the chinese understood for most anyone else is that africa is going to be a market and that ended up being good very very very successful coach. taking a look now at some other stories making global headlines this hour nigerian military abused c

we've got a u.s. africa summit coming up next week, it's going to be an unprecedented gathering of african leaders. the importance of this for america needs to be understood. africa is one of the farvqgrowi. we've got one of the fastest growing economies in africa. we've got all sorts of other countries like china and brazil and india deeply interested in working with africa, not to extract natural resources alone which traditionally has been the relationship between africa and the rest of the world but because africa's growing and you've got markets and entrepreneurs and extraordinary talent among the people there. and africa also happens to be one of the continents where america is most popular and people feel a real affinity for our way of life. and we've made enormous progress over the last several years in not just providing traditional aid to africa, helping countries that are suffering from malnutrition or helping countries that are suffering from aids but rather partnering and thinking about how can

africa. furthermore, our commerce secretary said the u.s. will add tens trade missions in africa to with china and anyone else in the coming years. the message, from congress and from the white house, is loud and clear. america is ready to do business in africa and we are ready to compete with anybody, any competitor and all competitors on the continent of africa. the president of the united states has made this a key priority. the congress is moving ager legislation -- moving major legislation. a real step towards galvanized action. those of you who came here maybe doubting america's seriousness and even america's ability to compete with foreign competitors in africa, let me offer you a few words of advice. american businesses are competing to set higher standards of ring business in africa with sustainable business models the respect environmental safeguards. we are looking for long-term win-win business models that create jobs and opportunities at home and on the continent. more important, we understand it is in our interest, the economic

u.s. xm. $1 billionthorized of power generation financing for the continent of africa. it is u.s. firms supplying u.s. manufactured goods and services that are coming in under these programs. so to the members of congress, i ite you to reauthorize because failure to do so is effectively voting against the development of africa. if you take a look at turkey, brazil, those economies that have passed through basic developments and begun the real industrialization process, you a linear that there is basis to their borrowing. look at the amount of applications from sub-saharan africa and from north africa. look at brazil, turkey. we want to get into the -- >> we want to give the others a chance to introduce their company. >> absolutely. [applause] >> good afternoon. my company is from tanzania, focusing on clean energy. the issue of power deficiency in africa is well documented. it is the description of a crisis. there are people in the dark. that means our children cannot do homework. clinics and hospitals cannot store essential medicines. this has to change. good intention is not goo

u.s.-africa summit with president obama who visited last summer and highlight america's commitment to africa's security, systemic democratic commitment and its people. president sassou-nguesso joins the ranks of others in speaking at the national press club, including many u.s. presidents, nelson mandela, nikita khrushchev, fidel castro, and mahmoud ahmadinejad. the press club is known as where news happens. i would like to thank the world affairs council for partnering with us today to bring president sassou-nguesso here today. please join me in welcoming president sassou-nguesso here to the press club. [applause] >> madame president of the world , mr. president of the national press club, i thank you for the honor you have extended to me in inviting me to in this you today hallowed hall. you must allow an african voice, mine in this particular instance, to be heard and to communicate with the american people on a major subject, an issue that is universal in its very nature in peace and security. the universal nature of peace and security is in itself obvious and undeniable. rooseveltfriend w