customer funds being held in the uk? how its the work of the cftc in this area been coordinated with mr. gins efforts to protect u.s. customers subject to regulation 30.7. >> thank you, senator. the cftc does not have -- the authority to bring an action in the uk court proceeding. but we are, as we are in the united states, working very closely with his staff, the law firm that he has hired to represent the, the -- the bankruptcy in -- in the uk and in front of the english court and we will continue to monitor all the different actions that happen in that proceeding. >> do you have anything to add? >> just to confirm that we do confer frequently with the cftc about the strategy in the uk and the nature of the legal issues. equally, we have, to the extent we can, shared information with judge freeh regarding that proceeding. of course all of those funds in the uk are segregated assets that belong to the 30.7 customers of the broker feeler. >> mr. duffy, do you have any views on the fia recommendations offered last month t

punters in the uk. johns in america.reating this demand for these traffickers. >> is the one victim. she was raped held unlawfully against her will. it isn't just that one victim, it's other victims. you will find brothels and victims in every town in englan england. >> she supply of human traff trafficking victims is only expanding. >> according to the u.s. state department, the global recession ir in the last two years has exploded the number of slaves and people trafficked. many people want to move from point a to point b. what they don't sign up for is rank exploitation, rank abuse and violence and slavery that happens at point b. >> when it was all over, operation con tam ter 2 became the biggest crackdown international sex trafficking in british history. in all, british police rescued 164 victims and arrested 406 suspects. 67 people were charged with trafficking in human beings. operation contamiter 2 also supplied a successful template in other countries interested in stopping human trafficking. >> they were able

it is worth reminding that the uk is back in recession.ppointing flash estimate of first quarter growth. minus 0.2%. the consensus was plus 0.1%. you have to remember that the pmi survey suggested a growth of 3%. it seems to have dragged it down was the construction number, big fall in construction output. down 3% on the quarter. but that doesn't -- even that doesn't sort of measure up with what they're saying with what the pmis have said and the bank of england had previously cast some doubt on just how much you could rely on the ons construction survey. so we'll wait to see what happens if we can get revision up. remember, in the last quarter we thought we'd get a revision up. it didn't happen. anyway, at the moment as it stands, the uk in recession. george osborne has come out and said we're abandoning any economic plan. it would just make the situation worse. now, besides earnings and economic data, it's the day the big man steps up to the plate. ruepert murdoch is expected to testify. he's raised me questions. kayla tausche is on the

it was one of the most deprived parts of the uk. the organizers are hoping the legacy of the games will not just be in its physical building, regenerating this part of london to something that is a spectacular destination and famous landmark, but also inspiring a generation. that is the slogan that is being released today, inspiring a generation around the world and in the uk. we will be covering this around the clock here on bbc world news. thank you >> did nato ministers meeting in brussels have discussed how to fund afghan security forces after troops leave the country. u.s. officials are expected to press allies inside and outside nato for a commitment to pay around 1 billion euros a year beyond 2014. joining me from brussels is the defense coordinator. this will get harder and harder to convince countries to pay up, because many seem to be heading for the exit door at the moment. >> it is key to counteract that impression. australia said on tuesday they would bring back troops by the end of 2013. earlier than most people though

we have a lot of assets we believe that are in the uk. uk has a separate administrator. separate court system. we don't have privity as the holdings company to challenge and file some of the claims as subsidiary inc. will do. but it is a very difficult task to -- to get facts and return assets overseas. some restriction as but how segregation should be mandated for u.s. investors overseas is a key one from the point of view of chapter 11 trustee. i would emphasize that. thank you very much. >> thank you. good morning, chairman johnson, ranking member shelby and members of the committee. thank you for inviting me to discuss the collapse of mf global, and policy implications. on november 9, 2011, the commission voted to make me senior commissioner with respect to mf global matters. this authorizes me to exercise the executive and administrative functions of the commission solely with respect to the pending enforcement investigation, the bankruptcy proceedings and other actions to locate or recover customer funds or determine the reasons for the shortfall in the customer ac

we've had some auctions this morning out in the uk. first dutch auctions this morning. pretty straight up test bearing in mind the dutch government has resigned. they raised half billion less than the total amount they were targeting. the yields were okay. in fact cds narrowed a little bit on dutch debt and also we pulled back from the three year spread over german bunds. as far as the spanish auction was concerned, three and six month t-bills, yields did double pretty much as expected. they sold about the total will terp looki they were looking for. uk public borrowing 18 billion, which basically meant the target of 126 billion for withis fisca year was essentially met. andrew, when i look at this quota we have between borrowing targets, auction results, austerity measures and growth, as well, where are we all sitting here in europe compared to the u.s. and china? how is the rest of the world going to help or not help us? >> the u.s. has done probably a bit better than most expected. there was some nervousness about the latest jobs figures. but i think the real powerho

because the uk is only going to reduce their forces by about 500 over the next year. which is very small. so, i mean, that's helpful. that serves as a great statement in helmand province for us. we've got it. we're here. i think that the strategic partnership you refer to in the beginning between the afghanistan and the coalition has had some challenges. the two big ones are obviously night raids and the tension operations. i think that the president of afghanistan has been working very hard to cut out night raids. what we have done in order to satisfy that desire by the president is, in effect, we have taken u.s. forces out of the actual conduct of the night raids and put them in an adviser trainer role. so helmand province we will conduct night raids almost every night. we're still doing night raids. we're doing night raids with commandos. we're doing night raids with the narcotics interdiction unit that was mentioned earlier. in fact, we just had -- we had a raid several months ago where it was done by the niu. it was advised and trained by a couple of dea agents t

also it says it will spend 1 billion pounds on the uk business.more negative note it did say that the u.s. break even will be later than planned. speaking first, tesco explaining why it's continuing its push into the u.s. >> once we know those stores make a profit, we can then actually roll out much quicker and cover the substantial overhead that's in place, but making sure we've got the model right before we start to scale it. that's the key to the success for the u.s. >> and let's move on and take a look at the government bond markets. the 10-year bund moving off its lows that we saw on monday. keep in mind we'll get results of a two-year debt auction later on. and the ten-year spanish yield way below the 6% yield we hit on monday. so we are seeing some improvement, but the big focus will be on the two and ten-year auctions we'll see tomorrow. the ten-year italian yield, the low 5 preside.5%. that's going to happen one year later now. and the ten-year gilt moving slightly low finally let's show you the dollar rates aet this point. sterling/dolla

both for the uk and for the euro area. but you're looking at negative growth or very low growth for the coming quarters, i think, question, still. >> sterling's just hit a session high, fur month high, sorry, against the dollar as a result of this, 1.6047. where does leave the further qe debate? there are still meets of the mpc still wanting a bigger program. >> yeah, i don't think that's we'll get a decision on that this week. i think it's more likely to come in may and you are call is that we've seen the last bit of the qe program in the uk. we're not going to get anything further. saying that if there is a down size surprise on the economy, i think the debate will resurface. but as it stands, it doesn't hook like there's going to be another installment. >> we'll take short few moments. george osbourne is expected to challenge india's decision to overhaul its tax regime. we'll have the latest from mumbai. so, how do you feel about cash back? i would not say i'm into it, but let's see where this goes. [ buzzer ] do you li

and uk.hat we have seen is that, you know, all the fiscal reduction plans, which have been announced in the last year, year and a half are slowly beginning to bite in and a lot of people were expecting the economy is going to be in a tough ship perhaps contracting. the fact we are projected for .5% is indeed very good news. it means that it can stay its course, you know, without giving way in terms of all of the crisis getting from a lot of the opposition saying the cuts are coming too fast and too thick. >> services firm confidence about the year ahead pretty much near february's level, which is the highest in a year. what also seems to be encouraging about the breakdown i'm reading is chris williamson from the market is saying the confidence is encouraging firms to take on more staff. that would be a very good thing, indeed. and how the uk numbers are sort of divorced themselves slightly from the eurozone numbers, is that trend sustainable? >> i think so. in a way, if you look over the last

>> it's very important in the uk. we've seen just over the last month or so a big rise in pet tral prices. somewhat artificial. but even before that, prices were at record levels. pet tral prices are there. >> markets are getting agitated clearly about spain. the economic data deteriorates further, markets are more agitated about it, is there the risk that will just rebound on to the uk and if so, by how much some? >> i think i'll ignore the second half of your question, but it's difficult for the uk economy to do well when europe is such a big drag. we have over a long period of time reoriented our export markets. germfully used to be the single biggest export market and thousand of course it's america. so it will be very difficult for us to have a decent recovery, but i think in those pmis that we've been seeing, there is something of a disconnect already emerging between the uk and europe. and i think the outlook for domestic demand particularly from the consumer side, about if inflation does continue to come down,

before that, a little data out of the uk.oods trade balance widened out to minus 8.7 billion pounds bigger than the expected 7.7 billion deficit. the noneu goods trade balance widening to 5 billion, again, bigger than expected at minus 3.8. not a huge reaction on the pound to that. but the pound has been -- sterling index has been gaining strength. and governing council member said spain canceled out its public finance despite recent uncertainty in an effort on assure their k34i789, they due to sign off on new laws which allow the country's budget to be more slightly controlled. spain is made up of 17 autonomous regions. the new laws will allow each of their budgets to be overseen by the central government. joining us is head of economic research at ubs. good to see you. you wrote this report back in spain. they're now less -- how much more pessimistic are you about what's going on in spain? >> there are a number of problems. the budget problem is this one. so it low presented is very important because what's happening this s

this far into the great depression, the uk was actually growing.y is shrinking. that's in marked contrast to the u.s. which has experienced modest growth during the same period of time. in 2010, the uk economy began to contract, even as the u.s. economy expanded. what happened in 2010 that set the the u.s. and uk economies on different paths? >> britain had an election. a conservative government led by prime minister david cameron came into power promising savage cuts on spending on everything from education to welfare, because he said that would turn the economy around. his policies are virtually identical to the ones that the u.s. democrats claim will hurt our economy. here's cameron wednesday echoes republican rhetoric. >> typical of this arrogant prime minister, he tries to blame it, the reality is, this is a recession, made by him and the chancellor in downing street. why doesn't he admit it? it's his catastrophic economic policy, his plan for austerity, cutting too far and too fast, that has landed us back in recession. >> we will not let any

on her return to the uk, katherine accompanied her husband to visits to his causes while she researched her own. in january, her charities were announcement and they focused on art, addiction and hospice care. although it was nearly always what she wore that made the headlines first. >> i have been kind of a bit concerned that if it keeps up like this with kate turning up and people just writing about what she wears, then she'll get a very shallow image and i have mentioned this to people at the palace, but that will change, because she will be doing more interesting, more challenging jobs.

uk. but frankly, to barton's point on competition, you have love film on the amazon and uk, there is let les competition. that should be a clearer path for netflix over the next one to two years, especially. >> look at the data i'm getting from richard peterson at capital iq from s&p, he says netflix ownership activity includes more institution selling out positions than taking new positions in netflix and latest quarterly report. that's according to s&p capital iq. so you are seeing that pricing disaster last year that really caused the big institutions to get out. >> i think, yeah, and also remember the beginning of the year, the stock rebounded. there were people that frankly recaptured a little bit of the gain they lost when it fell apart from the pricing and you know short term more short term focus getting out of it. i think that's you know, an accurate market observation right now. >> where do you see the growth coming from, martin? >> i think you know, again latin-america internat

both the uk and u.s. outperforming pmi. as far as bond markets are concerned, we'll keep our eyes on treasury yields. italian yields 5.091%. still around that 5% mark. spanish debt 5.36%. ten year bunds 1.82, fairly steady still at these exceptional levels. still to come on today's program, investment advice. >> australia central bank saying it wants a peek at inflation data before considering a rate cut, but with the economy growing more slowly than expected, can it afford to wait we'll ask bill evans. plus as we wait for the budget minister to present his budget, we'll leave you with a live shot of the parliament in madrid. wÑwÑwÑwÑwÑwÑwÑwÑwÑososososvycyíy >>> air france signal that had drastic cost cuts and restructuring will be key if it's to maintain it short to "mediumedium haul operations. good morning, stefane. >> the new ceo of the airline unveiled yesterday a plan to reduce the experiences by 20% to reach the standard level in the airline industry. he says the target has been agreed with the main unions of the air

it's given the uk a cold. >> he's said that to some extent. he said they were terrible numbers and didn't expect it to be bad. it's the clever political thing to do. you can't blame everything on europe. the point of the policy has been to try to decouple britain emotionally from europe. look, we are different. we are not in the euro crisis. this would wash up on their doorsteps. he's got to play it clever. he can't blame it all on europe. >> is he thinking of creating a stimulus package? >> he said definitely not. he's constantly asked about it. they say they are sticking at their plan. they are reluctant to change plans half way through an administration. >> we talked about this being david cameron's rough week. economy is everything in any form of democracy. this country or the uk. there's been other stuff going on. the murdock trial. it's been washing up on his doorstep, why? >> there's a couple things going on here. the murdock thing has been going on for years. the hacking scandal went on for years. there's an inquiry going on for months

. >> last week, i met the chief executive of the fourth largest manufacturing group in the uk, unisonngineering, which has a substantial factory in burnley. he has been instructed by his u.s. board to increase the turnover of his u.k. operations so as to take advantage of the government's industrial strategy. he is concerned about the lack of skills. can my right honorable friend assure me that the government investment in apprenticeships and university technical colleges will increase over the coming years? >> what is interesting is that if any member of parliament wants to talk about manufacturing success or business success in their constituency, they are shouted down by the opposition, because all they want to hear is bad news and to talk our economy down. we are investing in skills and putting more money into the apprenticeship schemes and the university technical colleges. i was at airbus in filton this week seeing the expansion and growth plans there, and it is good to hear what is happening in my honorable friend's constituency. >> does the prime minister agree with his chance

in the uk, two rabbits, 11 dog, five cats, putting on a diet six months so they can lose weight that cat can barely walk up the stairs. >> they say 12 million pets are being fed the wrong stuff in the uk. >> a lot of these cats and dog, eating the same things their humans eat. take-out, potato chips, biscuits and toast. rabbits have the worst diet, because most people don't give them enough hay. most people give them this, what makes them pork up. >> what kind of health problem does that pose for pets and humans alike? >> they fay diabetes, heart disease and it shortens a pet's life expectancy if they are overweight. >> i can see how you could work out a dog and i guess a cat, too, but how do you work out a rabbit? like a bunny? >> get it to hop around, man. carrot on a string. make him taste t. ah! >> all the pets listed. you can see some of their problem, like maverick the cat is 85% overweight. >> fifi is 107% overweight. >> and jack can barely walk. >> otis, 41% overweight, not much compared to the other ones but otis has four beds. >> we're behind all of these pets. i've got to

the middle of trying to save a couple of fishermen off this 33-foot fishing trawler near ports smith uk. the boat is already taking on water. you can see it sinking down the back. the engine is still running. it's keeping the boat somewhat stable. one of the fishermen has his life jacket on. he's ready to get off the boat. but he slips. he falls into the water. the life boat swings around. they pull him back into the rescue boat and they circle around to the second fishermen. while they're doing that, the engine of this boat dies. that makes it much more unstable in the three-foot swells. you can see the second fishermen is able to jump into the boat. he has some log books with him. seconds after he jumps off the fishing boat -- >> the rescuer is still on there. >> the rescuer is still on there. it starts to capsize. watch how quickly this boat capsizes and how quickly it's gone. >> he saves two people and he has to jump into the water. >> the rescuers were able to get that volunteer back into the boat. nobody was injured in this incident. >> it's supposed to be just another dog walk, t

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

>> look at this swan go after a dog this happened in the uk. >> they don't have teeth or talons. if it does come after you, it won't eat your face. >> no. but it will peck you. >> that would suck. >> look at it. it's like biting. >> this guy has a paddle to fend off a swan. >> it's chasing a boat that's moving. >> holy cow. >> slow motion. now, he doesn't hit it but he gets right behind it. and that bird comes back again. >> that thing is enormous. it looks like a small plane. >> the internet is full of people getting attacked by swans. so i'm not surprised that something like this happened. it seems just to be a tragic, tragic accident. >>> some intense storms ripped through the midwest over the weekend, and we have some video from norfolk, nebraska. you probably never have seen something like this before. >> some of the heaviest hail i've ever experienced or seen in my entire life. >> that's hail! >> going to be noisy. >> whoa! >> that is hail. what looks like snow, what t oks li sow is hail. this video said excitedly in this video he was mowing his lawn one hour before this ha

from distributors in the uk after being purchased from wholesalers in turkey.e is with fda office of integrity and recall. >> what we're seeing is a pattern of this risky practice of purchasing unapproved drugs from foreign suppliers. >> reporter: altuzan has the same active ingredient as cancer-fighting avastin, but sold only in turkey and not approved for use in the united states. according to british authorities, 82 of the ounterfeit vials were shipped to the u.s. by river supplies, located here in the uk and owned by canadian businessman tom haughton. halten is currently under federal investigation for shipping counterfeit avastin into the u.s., offering it for $2,000 a vial, some $400 less than the manufacturer's price. tom. >> hello. >> reporter: we track haughton down last month in barbados. he denied any wrongdoing and took a strong stance against counterfeits. >> we're depending on the governments and the regulators to make sure these supply chains are, indeed, safe. i will do everything within my power to ensure this never, ever happens again. >> repo

similar situation in the lehman case in which our position was that funds that were with the lehman uk broker/dealer were segregated customer funds. these happened to be securities funds. and that was opposed by the english regulators. and that process, because of appeals to three courts, took almost in excess of two years until there was a final decision. i hope that will not be the case here. >> what's your best judgment on how long it will take to recover the remaining $900 million in customer funds? >> we have recovered, from closeout, some portion of that already. >> how much have you recovered of the $900 million? roughly. you can correct the record but just give your judgment. >> i believe about -- in excess of $500 million, but i'm not sure. >> you will furnish -- >> we'll have supplemental information on that. >> commissioner somers, i'd like to come back to you. in an attempt to justify his mf global recusal, mr. ginsler stated he did not want his rip with mf global ceo jon corzine "to be a distraction." did mr. ginsler, chairman ginsler, ever express any concern that his rel

and uk theater companies and is the recipient of the allen wright award for arts journalism, the sundance institute arts fellowship and the nea fellowship of journalism. in 2006, she received a best columnist nomination at the annual san francisco media excellence awards and her first book on acting was published by farber and farber in the uk and farber, inc., in the united states. let's welcome phillip and chloe >> hi there, phillip. >> hi, chloe >> so, this play, it's been quite a journey. we're talking 3 1/2 years, maybe nearly 50 different drafts and 5 workshops? . >> five workshops, yes. >> so, looking back at the journey, how has it been for you and has it come out as you expected it would? . >> what's interesting is if you work on a play this long, normally there are times that it becomes redundant and you get a little bored with the piece. it's only natural. it's pushing 4 years now. this one was interesting in that it never got boring or ever felt redundant and each thing that we did over these almost 4 years, whether it was going off to sundance or to writer's retreat they have

and peddler of nontruths but what struck me is how australian he is after all of these years in the uk, unsentimental, anti-elitist and he made a billion-dollar forth fortune, $60 billion fortune out of those qualities. saving uk newspapers along the way and now it is all at risk because of those who worked for him, allowed those competitive win at all cost instincts to run riot. >> i see him as a tragic figure, more than as one to be pillared and condemned. john, why a tragic figure? >> well, he used the rather shakespearean word today, he talk about this blot, which he thought is that macbeth or hamlet, i forget but he, but he said this blot would be with him for the rest of his life. he said, he is 81 years old, i think he is be going understand there will ultimately be no full recovery for him in his lifetime. he has seen his lifetime's work fundamentally friend by this. his reputation deeply tarnished, and he spoke today for the first time of the full cost of this. he talked about having already lost hundreds of millions of pounds, i think it was found, not dollars he was talking

but also with the uk. far as how women breadwinners are working out relationships. >> in europe in general, what is so interesting, and people don't realize this -- women are outnumbering men in college and universities around the world. in developed countries and also developing countries. really, i think this is going to have a profound impact in countries like -- like middle-aged middle eastern countries. specifically looking at europe, i interviewed some spanish demographers who have made projections about globally what we will look like in 2050, it is going to be a world of educated women and less educated men. one of the things they are tracking is the shifts in the marriage market. what they are finding is that women are marrying more progressive, european men who are willing to adapt to their level of education, and that men are marrying immigrant women from central or south america we still have a more traditional mindset. the way they put it was, you know, men want the kind of women who used to e

media mogul rupert murdoch is facing a uk ethics inquiry.that he's not angry at prime minister david cameron for set up this inquiry. we'll continue to northern the testimony and bring you any highlights as they happen. also all morning long we've been getting some earnings reports from some major companies. boeing posting better than expected earnings and revenue. now there's a lot of back and forth with these numbers. right now we're going with a 1.22 versus the 94 cents the street was looking for. there was 11 cents that was positively added in because of lowering some of the litigation expense or litigation reserves they had set aside. the expectation at least we believe at this point is that most analysts knew about that 11 cents, no matter how you spill it even at 1.11 they beat the street expectations. they came in with better than expected revenues and the company is trying to reflect a reduction in litigation reserves. that stock -- whoa out of whack bid. that stock has been indicated higher. bid and ask is probably wrong. don't pay

these are employs of news corporation in the uk two, did they cook the financial books?want to jump halfway around the world very very quickly, a news -- news out of australia last week that there was hacking there as well. am i correct? >> yes. it has been a scandal boiling up over the smart cards used in cable tv. and there was [ inaudible ] going on in australia -- >> in the murdoch empire. >> yes. >> and if you begin to show a global reach of the scandal becomes that much more relevant. did it happen here? >> yes. bare in mind the scale of the fca has reached $800 million. people have been put in prison for 15 years and this is really serious stuff. >> i want to thank you for