>>for uk citizens who are forced to marry abroad there is help. in bangladesh, the british high commission handles one case per week related to forced marriage, although they admit there could be hundreds of cases a year that they never hear about. >>i'm alan morrison. i'm the british consular. we cover all sorts of types of consul work, focused primarily on providing assistance to highly vulnerable british national in bangladesh. that, of course, includes young people which have been brought here and forced into marriage. so, this'll be the point of entry to our public. so, when they come to the high commission, this is what they'll see. you don't normally see this side, but this is our interview room. so, if we have to talk to someone in a confidential setting, we'll talk to them here. >>(vo) it's lunch time at the high commission, and alan has just received a tipoff that there is a british girl who may have been forced into a marriage. she's staying in a village in a remote part of sylhet, in the north of bangladesh. >>even though the high comm

let's pick up with the uk rat g rating. a negative watch for the uk. george osborne has come out and said we can't waiver from dealing with debt. will it change the view of the uk as a safe haven or not? >> i don't think it should in the sense the uk among the western economies has quite a robust deficit reduction plan and they're sticking to 0 it. i think that's the right thing for george osborne to be doing in the circumstances. i think we need to be a bit careful about oversensationalizing these statements from the ratings agencies. after all, we had the other one from standard & poor's i think the last time i was on the program and the markets, to some extent, shrugged that off and it told them something they knew already and that's probably the situation. >> the ratings agencies are catching up with how investors already feel potentially. do you think that's more the case? >> i think what also they're indicating this is a very difficult for 0 public finances. governments can't rely on particularly strong growth to get public finances back into sha

xstrata shares rise 10.5% in the uk session. staying with britain we have had bad news on the economic front and i'm afraid it just keeps coming, the latest this country may be headed into a recession pretty soon. the national institute of economic and social research or otherwise known as the niesr says that it is a leading research economic body we should point out think tank extremely -- says the uk economy is likely to contract and is more pessimistic when it comes to the outlook from the government's own forecasts predicting about 0.7% growth for this period. the economy, let's remind you strengthened 0.2% over the course of the last quarter. so another consecutive quarter of contraction would technically mean that the uk would be inside a technical recession because the definition of that is two consecutive quarters of shrinking output. as a look at how this is playing out on the market starting with the ftse 100, everything is basically rather flat at the moment. despite the fact that we've had all that news surrounding x

contributed about $33 million to the uk economy. that's around $1.7% of gdp. the industry employs 816,000 people, that's more than works for the uk's entire mow tore industry. fashion is clearly big business. how can it or indeed any industry grow at a time when some economists are predicting that the uk is headed for recession. >> these are pretty tough economic times. is this a good time to be launching a plan for growth and job creation in the fashion industry? >> as you've heard, it's the second largest employer in the country. the answer is that we think hopefully we've got a business that's still developing and we've got to go find the new talent, develop it. that's our job. >> the industry wants to create training, establish apprenticeships and build on the success of colleges like these. i also wants to boost a side neglected for years, textile manufacturing. the retail side of fashion has been growing, but the same can't be said for manufacturing which pretty much sfell off a cliff i the last couple decades. that could all

or so, uk inflation figures. it's expected the inflation across the uk, which has been one of the main bug bears of the central bank may come down for a second straight quarter to around about 3.6%. last quarter it showed a sign of declining to about 4.2%. that could be something that the markets are focusing on when it comes to france. one of the main concerns is exposure to sovereign debt, not not just greece but potentially france given what moody's said. news of the moody's downgrade weighed heavily on the stock market in asia. in particular, the bank of japan announcing fresh easing measures. that as you can see here, gave the boost to the nikkei ending day up to the tune of 0.6%. energy and resource stocks across the region is one of the reasons we saw the sydney asx 200 not being hit quite as hard. that one ending down 1.2%. in japan, olympus did manage to recover some ground. it managed to close up to the tune of about 2%, one of the reasons the markets in japan did slightly better than the rest. the shan

the interesting thing is your book, i have this one, but in the uk -- >> in the uk it looks like this. >> career advice for ambitious women. >> the word ambitious is excluded from the title in the united states because they believe every woman in the united states is ambitious. >> and we have three ftse 100 companies run by women, american women. >> but three of them are american so we have to import our women at the top. >> is there a -- here is the first thing. that suggests there's -- david cameron's speech suggests there's a glass ceiling. >> there's no glass ceiling. >> what is preventing women -- is it women themselves? >> first of all, the way we destroy the myth of the glass ceiling is to destroy the myth that women can have it all. once they realize they have to make choices -- we have the olympics this year. olympic athletes are training for it. if they want to get to the top they have to make sacrifices and the same with your career. >> so that means if if you want to have a career, that comes first, family -- you can't juggle career and family -- >> you can juggle but you

the other runner in that race was the uk. stephane has the reaction in paris. >> the contract is not final yet. it's good news for the french industry. it would be the first time that the company managed to export its jet fighter. this reveals appear important contract in terms of the amounts. we're talking about $50 billion including the trainings and dimensions of the contract. the contract would come as a price. the company expected an important media technology on the planes. a remaining 100 would give trade in india. french officials want it to remain kosher and was very close to signing a deal with brazil. that is the reason why we'll have to wait until the end of march before the official -- in france. the stock is down 2.7% after an 18% gain yesterday on the share price. christine, i send it over to you. >> stephane, thank you very much for that. stephane pedrazzi. coming up next on "worldwide exchange," looking at a japanese company getting sharp about its earnings report. the japanese giant will make history by post

here in the uk 2.09 ruffle. in italy that's the ten year, 5.47 is where you are roughly and in germany the ten year at 1. 1.89. let's talk about the individual movers on the markets across this region. eiffage is the biggest gainer. 12.7% higher for the shares of this company after they came out with earnings. it's a french construction company but actually earnings fell by over 11%. the outlook that was very optimistic. they believe sales and margins will improve in 2012 so the stock is reacting accordingly. telecom italia up over 6%. they came out with its figures, too, cutting back on dividend trying to get to grips with their debt pile. they also said that revenue core earnings have increased on cost cuts of growth in the south american business. on the down side dexia, a bailed out franco belgian financial group. they came out with very bad figures yesterday, frankly. the can company said a net loss of some 11.6 billion euros, also the very existence of the business remains perilous and we've had reports th

that's what the yield is in the uk. so under the currency markets, reacting to the same kind of themes that euro/dollar is at 1.3216. the euro is moving 0 up against the dollar today and on that risk appetite that we've been mentioning. we are off the day highs. we did see 1.3238 earlier on. back from those levels but euro strength coming through. euro/yen steady around 105.1 and euro moving up against sterling as well 0.8333. sterling has done well in the context of the euro as we've had the worries. relative strength at least in sterling and euro against the aussie dollar at 1.2278, ross. >> this is worth pointing out they were doing well on the back of the cut and reserve out of china. the dollar/yen up since is its october's peak. head of currency strategy at rbc joins us for more this morning. adam, let's kick off with the reserve requirement cut by china. certainly greece and commodity currencies, we presume there are more cuts to come. what happens to those rates? >> i think we'll continue to see outperformance o

. >> play uk is a children's charity and they launched this new billboard that uses facial technician that goes directly to women. >> it scans your face, and it shows an ad based on whether you're a man or a women. >> they had to issue an apology because some people felt it was exclusionary. some people pointed out men and boys also face problems, and they said it wasn't our intention to offend anyone. >> if you're a woman, it shows you a full advert. >> they show women around the world who may not have the same choices that women in the uk do. >> what does it say if you're a man and it walks up? if you're a man, it highlights shocking statistics. it doesn't show you the full ad. >> men don't show you the full story because they are treated like women are, they don't get every opportunity men do. >> i think it's the same thing as there are stores meant for girls, there are stores meant for boys. this ad campaign is meant for women. >> i think the issue probably is to people that this is not meant just for women, it's meant to make men feel excluded. >> according to plan uk the website

a big data coming out from the uk. services pmi. now if that's a strong number it will take away fears that we could be heading for a recession after a negative gdp. it is also put the decision on whether we get more qe at next week's meeting. big number coming out. and here is the key thing. yields on italian btp continued to decline 5.5% and that's been a real indicator of stress and investor concerns. over the last few weeks as we've seen talkses go well in january, the pressure has eased undoubtedly on the italian debt. keep your eyes on that. as far as euro/dollar is concerned, steady. the euro/dollar trading and we'll move it on and show you exactly where we stand. a slight bid. the euro/yen, flat. the aussie dollar firmer. not far away from the all-time lows. christine? >>> hey, ross, the other thing we're focusing on is the jobs report out at 8:30 a.m. eastern. the dow jones forecast calls for an increase of 125,000 in nonforeign payrolls. seasonal factors could impact the january numbers as retailers and package delivery co

iran cutting off oil to the uk and to france.ted states urging israel hold off, do not attack. officials at the un nuclear watch dog are going to begin a second round of meetings with iranian officials about that country's nuclear program. the international atomic energy agency made a report warning it thought iran could be on its way to developing nuclear weapons. >>> senator john mccain is in egypt meeting with the head of the egyptian military. he will be talking about the case of american workers who were charged with raising illegal foreign funding. mccain says he will be dealing with their case, but also insists -- listen to they -- he is not bill richardson and is not going to negotiate their release. >>> it was 50 years ago today the world heard the words "god speed john glenn." president kennedy uttered those incredible words and john glenn became the first american to orbit the earth. that mission lasted about five hours and pulled the united states dead even with the russians in the space race. >>> coming up at 7:40 ea

but we invest, i would say, more than either of these two in the relationship with the uk, with poland that is with countries which although not belonging to the euro zone or not yet belonging to the euro zone can put pressure on us for us all to become a bit more of an economically integrated real entity anticipate real single market. and i think it's really a pitty not because we propose the think but i think because it would be hurtful if prime min stister one occasion of the european council on the 9th of december where he finally decided not to stay onboard of the fiscal compact agreement. he did not go down the road that we had suggested for britain, namely, do ask for a prize in order to stay onboard, a treaty which is politically painful for you to ratify at home. but please ask for an acceptable prize like a stronger commitment on the part of the euro zone countries to accept which would have been in the interest of the uk and the other noneuro countries a big movement forward with specific deadlines concerning the single market for energy for services, et cetera. but please d

also expecting uk unemployment figures out in about 25 minutes from now.ll keep you up to date with what is said there after positive news from the uk when it comes to, for instance, its inflation figures that came out just yesterday. so, the greek debt debacle drag ed on and on, but many economists say it can't drag on any longer going forward. defaults is perhaps less than five weeks away, some say. emily ruben is here to tell us more on what we can expect. what happens now, emily, after they cancelled this euro group meeting? >> i think it's fair to say the bailout is on hold after this meeting was canceled today. it's been postponed until monday. this heightens the risk of a default by greece. this comes down to an issue of trust. the euro group feel can greek politicians be trusted to implement the austerity plan they pushed through on sunday with such heartache. what happens now? it seems members of the euro group are losing patience and they want written guarantees. there is an election in greece in april and they want them to sign on a piece of pap

compare child poverty rates in america and the uk overtime.see that the uk's rates were havlved from the mid-1990s on. the u.s., on the other hand, has actually had a rise in its child poverty rate since then. there's no secret source here. tony blair's labor government simply made reducing child poverty a priority through various programs. so mitt romney, yes, the media took your comments out of context, but you do need to be concerned about the very poor. actually, we all do. and we'll be right back. >>> what is your prognosis of the american economy right now? >> it definitely shows some signs of revival. health of youn with aveeno daily moisturizing lotion. the natural oatmeal formula goes beyond 24-hour moisture. it's clinically proven to improve your skin's health in one day, with significant improvement in 2 weeks. for healthy, beautiful skin that lasts. i found a moisturizer for life. [ female announcer ] daily moisturizing lotion. and for healthy hair every day, try new pure renewal hair care, with balancing seaweed extract. only from

you're right to point out the uk experienced. we're not in the position the uk is nor anything like the rest of europe in this context in the sense that we enjoy still, and you can see it in the prices of u.s. financial assets, enormous confidence around the world. this country, this congress, this city, this government will ultimately find a way to put in place a more substantial set of long-term fiscal reforms. and so there's confidence out there in markets that ultimately congress is going to come together and do the right thing soon enough in this context. and that's why we're able to borrow at relatively low rates. you see that confidence in u.s. financial markets. if we were to in the face of being able to borrow at 2%, if -- at ten-year money, if we were to now decide we're going to try and turn this deficit swollen by the crisis, swollen by the bush economic policies and try to reduce that to balance in two years or three years, you would kill this economy. you would kill this economy and you'd dramatically set back the l

that's the case for the uk, for instance. the fiscal revenues go down because the state collects less tax. it spent a bit more because social safety nets have to play out and that is fine and that's, you know, a perfect trap to be on. and then you have some countries, not many at the moment but i'm not going to go through the list of them. but around the world i would say there is handful of them have that the fiscal space to actually slow down the fiscal consolidation path without violating the domestic rules because some of those have those in-house domestic rules that have to do with fiscal consolidation and balanced budget and the rest of it. so that's what i would define as those three categories, customized treatment that is needed. >> two very quick points, if i may. one of the things that has to be done is to reinforce an enabling environment for business investment. i'll use the uk with focus on infrastructure, the corporate tax rate. these are the type of things that also can help unlock that. that is incredibly imp

now his image has been pillared here in the uk. he's had to issue a humbling apolg before a select committee. he said it was the most humble day of his life. politicians have been roundly condemning him. before, people were too scared to speak out against him and were desperately courting his newspaper's endorsements. how times have changed in the space of just a year. >> dan rivers joining us there from news international, just east of the center of london. andrew? >> that's right. you can't underestimate the extraordinary fall from grace of rupert murdoch in britain. now, one area it hasn't been so badly hit, which you may find surprising, is the share price, despite the troubles at murdoch, news corp. share price continuing to hold up well. when the guardian printed the hacking story on july 4th which led to the downfall of the news of the world, it led to a significant fall, not surprisingly, in news corp.'s stock. after losing a quarter of its value in just five weeks, news corp. stock closing on thursday at $19.01. that's up

no deal has been announced. >> the uk border agency is to be split into after independent investigation showed thousands of people had come into britain without the proper checks being done. last year, a filipino -- a law banning foreign aid from seeking permanent residency was unconstitutional. three judges on the high court will decide whether to overturn that decision after an appeal by the government. for more on this story, i am joined in hong kong. if the high court keeps this rolling, what will it mean for the hundreds of thousands in hong kong? >> in theory, it would open up 1/2 to citizenship for them. hong kong is not like other places. for the national to live and work here legally, for more than seven years, have the right to apply for residency rights. that means you get more than the rights of people who just live here. you can vote, you can run in an election yourself. you're fully eligible for public services. it is more like residency rights. all of them are clamoring to move to hong kong. -- not all of them are clamoring to move to hong kong. they say many of them have

we ended up driving to tia juana with our family in order to return to the uk. we then had only five months to verify. we flew back to the u.k. for the interview which cost about $6,000, rather than processing in the u.s. embassies were rude to me and my bike in the process. -- wife in the process. we were a small company but had been in the u.s. for eight years, and had one of our best years. they seemed unaware of general business and tax accounting practices. however, my wife developeafter h the officer, the visa was approved. afton and there was finger wagging saying that you need to come up was something better than two years' time currently, there is no resolution for these types of green card holders. we will have to constantly trouble in the new at the will of immigration authorities. so how does this affect families? it affects our ability to run a business with unpredictable but times. it makes you unproductive and therefore unproductive thanks to the huge amounts of repetitive information required. processing fees which are a burden to the families in

lord nor man la montd, former uk chancellor. iran is going to issue a fourth generation of domestic centrifuges. wekeep our eye on that as brent oil trades around 118. it's also time to bring in jackie, which means we're getting closer to the second hour. >> we're watching warren buffett very carefully. he's increased his bets on u.s. blue chips, intel and ibm. according to berkshire hathaway's latest regulatory finding. he's added a new position in libya media and made a near 1 million dollar investment in directv. it pick up shares of general dynamics and took new stake in dialysis. they added provisions in coca-cola and care marek and reduced stakes in kraft. he's making big bets on technology which has performed very well. i was surprised he was taking his name ouftd j and j and kraft. they've been staples across the board. people like to hold them. i suppose we have to look at all of the holdings in berkshire to get a sense of what he's trying to balance because it's a huge portfolio. >> it is a huge portfolio as you say, w

. >> iran is looking to cut off oil to the uk and france is china ising more than ever. >> reporter: ken blames it on domestic. >> lot of the navies and -- refineries that -- that's the main reason right now with the big things right now in the prices go up so much. >> reporter: and experts say it's only the beginning. some say it could be as high as five dollars a gallon by summer. as of right now here, some of the lowest prices are around $3.80 a gallon in cities such as redwood and central san jose. up to $4.25 in select stores in palo alto and oakland. live in emoryville, elizabeth cook. >> to campaign 2012, now its now two weeks until super tuesday and rick santorum's popularity continues to surge. he stumped for support in michigan taking shots at the president rather than his gop rivals. mitt romney did take aim at santorum in ohio today calling him a democrat. >> during his time in the senate obvious two terms the size the government grew 80%. when republicans go to washington and spend like democrats, you will have a lot of spending. >> reporter: gingrich spent the day in ok

look at the gilt, 10-year and uk. started rising up a baker's dozen 13 basis points. then the post ltro hiccup. up a mere 70 basis points. who wants to be subordinated to the ecb with respect to something like a haircut? then look at the bund. even though it's only up a couple bay si points, you can see the pattern. then there's our 10-year. look at the fact that gold's down $61, equities move lower. there's one conclusion to draw, that is somebody might be taking out a mop quantitative easing might be in a halt for now mode and i'm surprised to answer bob's question that you didn't see a much bigger move in 10-years. rates moving up, the risk trade debting modified and i think a lot of bankers working in central unison, this was a fat finger, covered multisectors and probably belonged to the statue of liberty. one big finger. back to you. >> rick santelli, thank you. let's switch on the power surge. keeping an eye on oil today after its huge runup it's trading lower today. deutsche analyst paul sanky making a bolder call. he's bearish on u.s. light prices and bullish

even though the item may have been posted on servers some place else and have nothing to do with the uk >> it's a challenge for all companies to basically comply with the different regulations. as i said, the safe harbor was an attempt to make that work. i think in the future, you're going to see -- it's going to be tougher in some senses because the regulations on privacy are getting harder. but i also see a move here in the u.s. i see a slight, maybe it's a reaction to the reality tv shows like with kim kardashian, we would like to have a little less of that and a little more privacy. >> we do have better tv shows. >> is that true? >> we're putting our best foot forward on that. >> is he often called a gentleman? >> in my book, no. >> as long as we're teasing each other, let me show you something. the cover of "bloomberg business week" was about airline mergers. i think we have a picture of it here. so explain this to me. this got some reaction. >> it did get some reaction. the cover is continental and united airliners engaged in merging. and the headline was "let's get it on." >> and

our view is the source of the problem, the root of the problem in the uk is the bad asset in the uk which is in the housing seco sector and what needs to be put in place is a set of measures including qe but fiscal measures, too, like t.a.r.p. was in the u.s. that gets to that root source of the problem, that tries to achieve a situation where those bad assets are taken off the books of a private banking sector somehow or other realize -- the losses are realized. the banking sector can get on with lending. >> presume you don't think it makes a difference 50 or 75? >> i don't think it makes a difference to the economy except maybe cruiserweights a bit of inflation next year. >> more to come from you, erik. christine? >>> asian bourses are mixed. a lot of wait and see because there's no deal on greece. a lot of wait and see there. over in china we have the cpi data coming in stronger than expected, 4.5%. clearly that's dashing hopes of any imminent or any easing from the authorities. the pboc, that is. but in the end reaction was muted so the market ended flat to the upside but that brought

declines here in the uk of 0.2%. losses in germany 0.6%, down for the dax.ris the cac is losing half a percent. the ftse mib is managing to hang on to very modest gains, hardly registering them on the percentage scale but just a fraction higher so that shows up as green on our wall there behind us. now let's look at the individual stocks on the move. barclays for a start, we've been talking in terms of the banker bonus issue. bob diamond declined to comment on his bonus. we do know the bonus pool overall has been cut by 25%. elsewhere in the earnings today they may miss profit targets but overall being take ebb positively because the stock is up just over 4%. outperforming the broader ftse 100. alcatel-lucent, a strong performance which may surprise when you hear revenue and adjusted profit both dropped. adjusted profit down by 20% in the fourth quarter of last year. many clients of this company which is a gear maker have been cutting back on spending but strong cash flow and the last time they reported results the shares fell very hard so pulling back from

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the uk is about 14 years. the uk has much more incentive to infl hart way than we do. ultimately we need to look at the liabilities and the revenues that we're willing to raise to back those. clearly there's an imbalance. we have a huge advantage potentially relative to other countries, countries in the book, which is we are the reserve borrow internationally. we have a credit line unsurpassed by anything any country has ever had, and we earned that credit line. we're in the process of wasting investing in public assets and upgrades the system and we're just spending that, borrowing to finance consumption in excess of our income. that will absolutely end badly. so the pickle we are in is a large one and maybe bigger than what other countries have had. we have an opportunity to fix it. an opportunity that the europeans don't have right now. the europes are in a different place from us and a much, much tougher place. we should take that as a fix our own budget today. i think we're all on the same page with regard to your general points, senator. >> you touched on my next

in the uk it's 14 years. the uk has much more incentive to inflate in the classic reinhart way than we do. and ultimately we need to look at the liabilities and the revenues that we're willing to raise to back those. and clearly there is an imbalance. we have a huge advantage potentially relative to other countries, countries in the reinhart and rogoff book. we have a credit line unsurpassed by anything any country has ever had. and we earned that credit line. however, we are in the process of wasting that credit line. we're not investing in productive assets. we're not upgrading our education system. we're not boosting growth in other ways you might prefer to boost it. we're just spending that, borrowing to finance consumption in excess of our income. and that will absolutely end badly. the pickle we're in could very well end up being a very large one and maybe bigger than what other countries have had. we have an opportunity to fix it, an opportunity that the europeans don't have right now. the europeans ar

you know, we're not in the position the uk is nor anything like the rest of europe in this context in the sense that we enjoy still and you can see it in the price of u.s. financial assets enormous confidence around the world that this congress, this city, this government will ultimately find a way to put in place more long term fiscal reforms. and so there's confidence out there in markets that ultimately congress is going to come together and do the right thing in this context. and that's dwhy we're able to offer lower rates. if we were to in the face of being able to borrow at 2%, if we were to now decide we're going to try to turn this deficit swollen by the crisis, swollen by the bush economic policies and try to reduce that to balance in two years or thre kill this economy. you would kill this economy, and you would dramatically set back long-term cause of deficit reduction because you would swell the long-term deficits by inducing another crisis. that's not what the ryan budget proposes, i would point out, although there are some people that suggest we need to cut faster now. >