qatar holds an 11% stake in xstrata. those comments were followed by release of glencore's first quarter results. shares down about .6% there. staying in the mining sector lonmin said workers are starting to return to its troubled platinum mine. will strike action spill over to other mine in south africa. we'll head out to zambia for more in 30 minutes time. lonmin saying now 33% of workers are back at the mine. >>> meanwhile george soros has been revealed as a shareholder. has a 2% stake in manchester united. man shares continued to slide since it went public. it closed down at 13 bucks a share. >> i was surprised. soros buying man u. >> we'll see. >> still to come on the program europe's aaa club has been shrinking the agency's move. netherlands, is it the next country to go? we'll discuss that coming up. era laundry detergent once stomped a stain with such power, even chuck norris could respect it. twice the stain fighting power as the next leading liquid value brand. era, the only detergent that's chuck norris approv

glencore is offering 2.8 shares for each xstrata fund. qatar wants that raised to 3.25. if you look at where they're trading in the market right now, the ratio has fallen to 2.5. that tells you the market is pricing it that this deal will not be going through. the big showdown comes on september 7th. when shareholders of the two companies will be voting on the deal but looking increasingly unlikely now. >> thanks for that, karen. >>> meanwhile spain has requested $5 billion bailout from madrid, catalonia is struggling with refinancing debt of 42 billion euros. final thoughts from julian as well. what are we going to get from the ecb next week? >> i think a limited commitment to buy more european government bonds. i suspect that's fully priced in. what you won't get is unlimited commitment to bail out peripheral governments the market seems to be hoping for. >> does that mean spanish yields, your view is they head back higher from here? >> yes, they will. more generally, the back drop in spain of a weaker economy and the prospect -- i think the inevitably of a sovereign g

it's become impossible to understand the police others brave xstrata you may have reached a conclusion but europe still no where near to wending at all to whether the cycle of fear and hatred. just are still here r t brussels. amid growing talk of a crisis of tolerance in the euro but another scandal flares. in germany after a rebel i was shot for performing at second season as a regional court in cologne bad religious circumcision zonday noodle it was outrage among jews and muslims worldwide accusing the authorities of infringing on religious freedom chairman based rabbi just spin a says the issue could be exploited by radical movements there's no question that this issue is of the piece with the minarets read through in them and sort through and with the book question in france with the ritual slaughter question in holland seeing that is particularly striking about this issue is that from the perspective of those who do not actually ones who are uncomfortable with this of all minorities in their presence this is a fabulous issue because one cloaks the criticisms and the undermining o

it's become impossible to understand the police others brave xstrata may have reached a conclusion but europe still nowhere near to wending at all to whether the cycle of fear and hatred. does are still here r t brussels. and also coming your way this hour brewed bargaining most school is the ground for the possible hand over of the russian businessman jailed in the us for what he sees as political persecution. under small slice of a peaceful life inside a civil war dotty visits a syrian town which serves as a reminder what the state was before the fatal uprising. but now greece will be battling to win concessions today in germany in a bid to ease the pressure over its suffocating berlin mandated austerity program but there's little good will love for athens in the with it being ordered to stick by cuts or face a eurozone exit that space or all of the reports not all is lost just yet. friday sees the greek prime minister mr some modest begin a charm offensive against europe's big two he's here in berlin for talks with anger merkel before later flying off for a meeting on saturday with

it's become impossible to understand the police those brave xstrata may have reached a conclusion but europe still nowhere near to wending at all to whether the cycle of fear and hatred. dos are still here r t brussels. and there is are live pictures from the courthouse where brave it just arrived to hear the verdict and of course you can also watch the live feed from inside the courthouse on our website dot com right now. and also coming your way this hour blood bargaining more than days the gloves with a possible hand of the russian businessman jailed in the war he sees as political persecution. a small slice of a peaceful life inside a civil war visit a syrian town which serves as a reminder of what the state was before the fatal our rising. that's coming up later but now greece will be bottling to win concessions today in germany in a bid to ease the pressure of its suffocating mandated austerity program but there's little goodwill left for athens in the u. where they've been ordered to stick by cuts or face a eurozone exit. peter all of the reports not all is lost just yet. frida

. >>> xstrata reported a smaller than expected profits.he miner announced plans to cut spending for the rest the year and as for the highly-anticipated merger with glen corp company expects the deal to close in fourth quarter. shares were up 2.2% after the report >> china's hanlong cut their offer with sundance. iron prices dropped to their lowest level. >> and talking about that, western australia, gold producers are hoping to cash in on solid gold prices. >> plus italy is due to release second quarter gdp figures. our next guest says economic contraction there is likely to have picked up from the first quarter. we'll get a preview next. >>> these are the business headlines from around the globe. shares of standard chartered slumped in london and hong kong after the bank is accused of illegal transactions with iran. >> the bank comes out fighting saying it strongly rejects the allegations but reactions from the street are mixed with analysts disagreeing on whether this is a buying opportunity. >>> australia's central bank holds rates stea

the glencore chief, whose company already owns a third of xstrata, wants the best of it so badly he agreedun the company. the generosity of spirit may be evaporating with the arrival of qatar holding. it amassed nearly welfare% stake and demanding a richer premium of 3.2 glencore shares for the deal. sharp words for the motives he questioned. >> the question is what are they trying do? it is not one that held the stake and saying i don't like this deal and therefore i want to build up a nest egg to block this deal because i don't like it. >> unless a last-minute compromise can be fashioned this deal appears headed for likely failure at the back-to-back glencore investor votes just 2 1/2 weeks away. >> okay. thank you very much for that. speaking of giants, it is a big day here in new york. we have rick santelli over from chicago to talk to us in person, to physically be here, welcome. >> it is wonderful to be here. i will tell you what, simon, i think that when we all talk about europe we talk about it every day. there is a sense the markets are in a certain mode and lack of confidence. pe