Skip to main content

tv   World Business Today  CNN  July 12, 2011 1:00am-2:00am PDT

1:00 am
i would. corporate overseers. >> may you remain gloriously uncensored on hbo. >> thank you. you're doing a good job. >> you're a noble success to larry. >> i mean it. >> that's all for tonight. a fascinating hour with bill maher. i'm zain verjee at cnn in london. we begin with this news just in to cnn, the half brother of afghan president hamid karzai has been shot to death at his home in kandahar. one of his body guards shot him. we'll bring you more information when we have it. britain's former prime minister gordon brown is the
1:01 am
latest victim of phone hacking. the sun and sunday times improperly obtained personal information like bank and medical records on his family. two senior police officers will be grilled by a committee of mps why they didn't investigate phone hacking claims earlier. u.s. secretary of state hillary clinton has criticized syria for failing to protect embassies after pro-government demonstrators broke windows and spray painted walls. no one managed to get into the building. divers are still searching for victims of a deadly boat disaster. the boat was overloaded, not licensed to carry passengers when it sank on sunday. president dmitry medvedev ordered an investigation. u.s. president barack obama is meeting with lawmakers for another round of debt talks on tuesday. the debate stalled over how to slash the deficit and raise the
1:02 am
debt ceiling before the u.s. defaults. republicans want spending cuts but democrats support tax hikes and neither side wants to compromise. those are the headlines. i'm zain verjee in london. "world business today" starts now. good afternoon from cnn hong kong. i'm pauline chu. >> from cnn london i'm charles hobson. anxious investors dump their stocks as europe struggles to contain its growing debt crisis. >> macarthur coal rallies on a $5 billion buyout bid. >> politics, high finance and criminal allegations, the whirlwinds rocking rupert
1:03 am
murdoch's mighty mediame empire. markets in europe are deep in the red on heels of steep markets across asia. how are things moving where you are? >> down, a third session of losses and quite heavy ones. let's check in with the markets. really quite heavy, off by more than 2%, comfortably more than 2%, and with the paris and zurich off by 2.1%, zurich off by more than 2.1% and the same theme as we saw in monday's session which is the banks very heavily being sold at the moment heavily, there is clearing great deal of worry about the contagion spreading to italy
1:04 am
about this moving into a generalized crisis with a lot of banks really coming under pressure with non-performing government bonds on their books, and just one other theme, thomas cook is down on a profit warning, but really the whole worry about italy's finances very much putting all of that in state and look at that on the milan stock exchange we're looking at a punishing session off by 4.25%. let's move on to the currency markets not surprisingly we're seeing continuing pressure on the euro, the dollar being bought very much as the safe haven currency so 1.3850 and the euro is lower than that in the past few hours so we're looking possibly at the euro maybe even breaking down below 1.3800, that's being talked about in the currency markets, equally weakness there for the pound as people buy the dollar, 1.5810
1:05 am
and again, the yen at 79.84, with i think again a flight to a safe currency, safe haven currency very much the theme for the yen and that's uncomfortable for japanese exporters and i imagine that's putting pressure on the nikkei, pauline. >> yes, charles, let's look at the markets across asia, they fell sharply today but not quite as sharply as what we've just seen in europe, on renewed fears sovereign debt problems in europe could spread to greece and beyond. >> the arrows were all down, a sea of red across asia. the nikkei closed down about 1.4%, mitsubishi and mizuho fell between 1.5 and 2%. bank of japan, 0.2% to 0.4%,
1:06 am
from the quake in tsunami that devastated the country in march. hang seng more than 3%. monday moody's raised red flags on the accounting practices of maineland companies practices. the shanghai composite fell 1.7% and rounding out the losses, australia the asx down about 1.9% but one piece of positive news, macarthur coal soared nearly 40% after attracting a billion-dollar takeover bid. i'll have more on that later in the show. >> we'll talk to you in a little bit about that particular topic. charles, as you can see a pretty broad sell-off here in asia and also the same thing in europe. >> absolutely. the third session and those three-month lows for the euro so pretty bleak picture. at the united states a big
1:07 am
sell-off on wall street. major averages tumbled, major worries. financial and technology shares were among the biggest losers on monday, bank of america, citigroup, jpmorgan chase and wells fargo all closed roughly 3.5 to 5.5% lower, so really this is touching off fears of a broader financial crisis and don't let's forget the whole situation of the biggest slowdown in the world economy since the 1930s started with the financial crisis and now the worry is with he might go there again. at the close of the play there were triple digit losses for the dow, nasdaq, each closed roughly 2%. painful, pauline. >> let's look at the stock market futures and trading session in the u.s., it's right across the board as well, here's where the u.s. futures stand in
1:08 am
premarket action the dow poised to open down by almost 1%, about the same amount for the nasdaq. the nasdaq ended monday's session down 2%, so that's not good news there. also the s&p 500 poised to start the session on tuesday down by 1.25%. we're seeing investors fleeing equities and just piling into treasuries, so let's brace ourselves for wall street when it opens in just a couple of hours from now. charles? >> yeah, let's get to the root of the problem. a moment ago the euro i said was at a three-month low it's actually a four-month low against the dollar. european finance ministers are meeting in brussels to contain the crisis. they are discussing a second bailout plan of greece, could include a buy back plan of debt.
1:09 am
policymakers may accept some plan of default. christine lagarde say greece's efforts to close the gap have made significant progress but are, in her words "not sufficient." european officials are also discussing increasing worries about italy's finances and joining me in london is cnn's emily rubin. we had a statement yesterday and people are looking at that very carefully in the markets. what does it say? >> it's the result of an eight hour meeting. the market was down nearly 4%, and the euro group comes up with this statement, charles, it's big on generalities on first reading but there doesn't seem to be nearly enough to calm market feegz. >> "ministers reaffirm the absolute commitiment to safe guard financial areas. they stand ready to adopt further measures."
1:10 am
>> really on terms to say if you want to see how banal the statements are, consider the negative. "ministers do not stand ready." consider the feebleness. one really has to say that. >> this is a step in the right direction but the markets really need bold action to calm their nerves. there is some detail for instance enhancing the flexibility of the efs but there's no detail. finance ministers looking at low finance for the greece and portugal line. it gives the impression the eu is unable to keep up with the pace of events, things are changing so rapidly. >> it's also about politics. the people who ought to be in the driving seat, if nothing else they're charged with protecting the currency is the ecb. where do they stand with this? >> the eu central bank is
1:11 am
partial to default for greece. it confirmed its position that a credit event should be avoided. that is weaker language than we've heard before. normally the ecb's finance position is backed up. let's put this into context. we've got this slightly wishy-washy statement. prime minister papandreou asked for the euro group to address fundamental problems head on. we have barclay's calling greece insolvent. this statement doesn't go nearly enough to address the issues. >> where do we go from here? what are the moves? so many ideas up there. christine lagarde talking. the ecb putting out. euro group statement. people don't know where to term.
1:12 am
>> exactly reuters reporting euro group in july might come up with a partial debt restructuring in greece but today that was rebuffed. let's look at italy now. when the euro project was first imagined italy was considered the bad apple, the one who could upset the cart, the sick one in europe. now it's just beginning to enter into the big eurozone debt crisis as a potential loser. let's look at the italian economy. analysts can't pinpoint a particular reason for that. the worry is that it's down tos. the yield on ten-year bonds is 5.7%. while it can cope with portugal and ireland t simply can't cope with spain or italy.
1:13 am
>> emily ruben, thanks. just ahead, new reports former prime minister gordon brown was a victim of phone hacking himself and a look at how the scandal is affecting rupert murdoch's ability to take control of bskyb.
1:14 am
1:15 am
1:16 am
from cnn hong kong in london this is "world business today." welcome back. >> the phone hacking scandal that put "news of the world" out of print never runs out of ink. they are discussing with mill y
1:17 am
dowler's family. the latest is talking with gordon brown. "the sun" improperly obtained private information about his seriously ill's son medical records. "the sunday times" is accused of tricking his accountants into handing over financial information. those accusations will only add fuel to the political firestorm that has charred news corp's reputation but haven't dissuaded him to take over the satellite tv company british sky broadcasting. news corp decided to let regulators rather than lawmakers have the final say on the taker. >> reporter: rupert murdoch has upped the stakes to take over bskyb. until the hacking scandal hit its empire last week it was
1:18 am
skpted murdoch would be allowed to buy the 60% his news corp doesn't already own. on monday news corp formally withdrew pledges to sell off sky news. the company has given the government little choice but to refer the proposed takeover to competition authorities. >> it will mean that the competition commission will be able to give further full and exhaustive consideration of this merger taking into account all relevant recent developments. >> this takes the decision whether news corp can take over bskyb away from politicians and slows the whole process down. >> it's obviously politically unexpedient to allow the takeover to go through and the government have got to find a way of delaying it. this is their way of delaying it, the fig leaf for delay
1:19 am
before bsky jb is giving to mr. murdoch. >> reporter: murdoch ignored calls from politicians earlier on monday to rethink the whole plan. >> i would say look how people feel about this, look how the country has reacted with revulsion to the revelations so do the decent and sensible thing and reconsider. think again about your bid for bskyb. >> reporter: taking full control of bskyb is a top priority for murdoch and newscorp, it now has 10 million british households signed up, paying on average $800 a year. that chunk of revenue could now be in jeopardy. >> bskyb is going to grow its revenues between 35% and 40% and it will throw off a lot of cash and it's a very secure business. >> reporter: with the closing of the 168-year-old "news of the world" sunday newspaper
1:20 am
murdoch's news international now has three, not four british newspapers. will that be enough to satisfy the competition authorities that with bskyb, murdoch won't control too much of the media in britain or will the phone hacking scam make the deal too hot to handle? >> it schemes bskyb shareholders aren't thrilled to be associated with the phone hacking allegations. the broadcaster is trading 1.7% lower on london's stock exchange. news corp shares fell on the australian exchange in sydney this tuesday, dropping 4.6% by the close of trade. now on the nasdaq in new york on monday, news corp shares closed down more, by 7% and since the scandal began, news corp lost around 11% of its value, which is around $5 billion.
1:21 am
charles? >> well let's have a look into what the former british prime minister tony blair has been saying, because his successor, gordon brown has been targeted by the media but of course blair himself knows that while in office he took his share of journalistic jabs but he says he wasn't a victim of phone hacking for a simple reason, he didn't have a mobile, he didn't have a cell phone. mr. blair spokes to cnn's wolf blitzer and admitted it's sometimes difficult to strike a balance between the powers of british politicians and the press. >> there's a story out there in england right now that you urged gordon brown, the former prime minister to hold back in criticizing rupert murdoch and his empire in england because he would come back and slam you if he were to do so. is that story true? >> that is absolutely and categorically untrue. >> what happened? >> nothing happened. >> what did you tell gordon brown? >> i never told him anything? >> you never discussed this issue? >> the issue for us in the uk has always been as politicians,
1:22 am
and this is part of the trouble, you know, you're a political leader. you're in a situation where the media are very powerful and i think one of the things that my successor, david cameron was talking about the other day, which was interesting in a way was how when you are a major political leader, and you know, you're trying to fight elections, you're trying to govern the country, you can only communicate in the sense through the medium of the media as it exists. it's a difficult relationship to have, and at times, you know, as i said the other day, i think if i go back over the last decades, you know i don't think there's a single political leader in britain who would have felt uncomfortable about the relationship at points. it's a good idea to examine it and you put it on more healthy footing. >> one man who knows all about how rupert murdoch ticks is michael wolff. he wrote the definitive book on the boss.
1:23 am
we asked him what would be going through murdoch's mind. >> i think that he is more panicked than he's ever been in his life. i think he's suddenly face to face with a situation which is entirely outside his experience. you know, murdoch is a man who has faced lots and lots of crises but those are crises in which he confronts power with power. he negotiates behind the scenes. he makes a deal. rupert murdoch is a back room guy. this crisis, this scandal, however, is about the public. it's about, it's about losing trust. it's about doing things that the average man on the street is absolutely appalled by, and it requires to fix this, if it's fixable, it requires explaining.
1:24 am
it requires saying you're sorry. it requires going on every chat show that will have you and begging for forgiveness. it requires going to the family of milly dowler and the young girl who was murdered and kidnapped whose phones were hacked and saying you're sorry. these are not the kind of things that rupert murdoch has ever done or that he's capable of doing. >> hmm. when asked if rupert murdoch would have known about these alleged phone hacking incidents, michael wolff put it this way, he says the news corp chief was in close communication editor was in close contact with his sources and content. >> you're watching "world business today." the u.s. president and republican opponents continue to
1:25 am
haggle over the country's debt ceiling. that is next.
1:26 am
1:27 am
welcome back to "world business today" right here on cnn. >> let's take another check on the stock markets here in europe. it is looking ugly indeed with both off by more than 2% and the london ftse and euro smi off by
1:28 am
around about 1.75%. strong theme here is of financials, financial stocks the big banks taking big hits, pauline, on the idea the debt crisis could spread beyond greece, even as far as italy. >> we see so much concern and so much uncertainty in those numbers and on top of all of this, charles, investors are also worried about u.s. debt. there was no breakthrough at a white house meeting on monday between president barack obama and u.s. congressional leaders. at issue the president's push to raise the u.s. debt ceiling. >> i've been hearing from them that this is one of the things that's creating uncertainty and holding back investment on the part of the business community, and so what i've said to them is let's go. >> republican leaders say they won't pass a deal if it fails to include spending cuts that would offset additional debt. they're refusing to pass any deal that includes tax
1:29 am
increases. >> american people understand that tax hikes destroy jobs and the last thing we should be doing right now at a time of 9.2% unemployment is enacting more government policies that will destroy jobs. >> treasury officials have warned that a failure to raise the $14.3 trillion debt ceiling by august 2nd could trigger a partial default on u.s. debt. charles? coming up on "world business today" stock markets in europe tank as the continent's debt crisis tumble on. we'll have the numbers again. those stories and more just ahead.
1:30 am
1:31 am
1:32 am
1:33 am
from cnn london i'm charles hodson. >> i'm pauline chu at cnn hong ko kong. welcome back to "world business today." >> let's get back to the stock market action now. we really must call it a sell-off as the european debt crisis deepens and worries about the u.s. economy, indices across the world are sinking. nervous investors are moving their money into bonds as european finance ministers discuss a second bailout plan for greece, this is the scene, 93 minutes into the trading day with losses of more than 2% for the dax and the paris cac, 2.6% and the london ftse, off 1.6 and
1:34 am
london off by 3.6%. one country at the center of the crisis is italy, let's have a look at the milan stock exchange, last time i looked it was off by more than 4%, and there we are, come back a little bit but still off by a dramatic 3%. we're looking at numbers here, pauline, that we haven't seen since those ghastly days of 2008 in terms of percentage of losses. >> right, and this is just the beginning of the trading day, we're just an hour or so into trading, so we have a long way to go yet. charles, we also saw a sell-off here in asia, asia stock markets are in the red, here's where they ended up, the nisei down by 1.5%, the hang saeng led down by more than 3%, the shanghai composite was positive
1:35 am
yesterday, turned negative by 1.75%, and in mumbai, the index there was also down by 1.8%. now all of this on concerns of the european debt crisis, and also financial stocks, banking stocks led the declines across the board there. there was also pressure on property stocks in shanghai with concern that china might continue to tighten monetary policy especially after the inflation figures that came out over the weekend with inflation at 6.4%. charles? >> okay look ahead to the new trading station in the united states, u.s. futures premarket action, losses perhaps not as severe as europe, but that i guess is really what you'd expect off by 1.25% for the dow, 1.5% for the nasdaq and 1.75% for the broader market playing catchup with the selling we've been seeing for a couple sessions now pauline. >> charles, let's look at some
1:36 am
deal making right now. the world's biggest coal producer and world's biggest steelmaker have teamed up for a massive takeover bid down under, that offer values australia's macarthur coal at a cool $5 billion. ramy joins us with details. ramy, this possible deal is sort of a rare bright spot on this day where we saw so much negativity and so many losses across the board. >> that's exactly right. i'm happy to be bringing good news because of the bad stuff that's happening. at the crux, peabody energy in the u.s. and they're saying they want to take a bid, a takeover bid of macarthur coal for about $5 billion and they did it in aftertrading hours on monday and investors reacted today enthusiasticcally. look at the line graph. macarthur shares rocketed nearly
1:37 am
37% on the news, it actually turned out to be the best performer on the asx today, a complete 180 for monday when it was one of the worst performers, losing about 2.8% and the performance was negative reaction to a proposal from sunday that we talked about from prime minister julia gillard, put the carbon tax on australia's 500 worst carbon polluters. >> it was the biggest drop in about a month but with something like this, i imagine it had a good positive effect on coal companies. >> right, specifically on some mining companies we can bring up the graph and show our viewers, gloucester coal, whitehaven, aston resources and new hope, had knock effects. basically on rising investor hopes that basically these companies might get a takeover bid from other companies hoping to corner the market as well.
1:38 am
>> so they're trying to get in a little bit earlier. now yesterday all of these stocks, most of the stocks did not do quite well because of the carbon tax announcement from prime minister julia gillard. after today's announcement i imagine this is indication from her. >> prime minister gillard is breathing a sigh of relief. she did get a lot of flack when mining and transport companies tanked on the carbon proposal news but she's seizing on the macarthur bid saying this is proof the new carbon tax isn't going to hurt the industry and when you see market performance of macarthur and other coal miners she's probably right and right now it looks like this actually might succeed. >> okay, she's getting a little bit of political mileage ought of it. ramey inocencio, thanks for bringing us up to date. a murdered british teenager, victims of terrorist attacks in
1:39 am
the united kingdom and the united states, the families of british troops killed in iraq and afghanistan, all apparently allegedly targets of illegal eav eavesdropping by journalists working for rupert murdoch's international journalist group. dan rivers has details. >> reporter: the phone hacking scandal goes right to the very done of the british establishment with allegations the former prime minister gordon brown and incredibly queen elizabeth herself were both targeted by journalists working for rupert murdoch's news international. highly sensitive contact numbers and itineraries for the queen and senior royals were bought by journalists from "news of the world" from corrupt police officers who were supposed to be guarding her. >> royalty protection officers are in the ultimate position of trust, and if they have handing over information about royal
1:40 am
families' movements and telephone numbers, apart from anything else, it's a massive security risk. >> reporter: and then there are serious allegations about hacking of the former prime minister gordon brown, "the guardian" newspaper says brown's personal information including bank accounts and property holdings were sought by "the sunday times" another news international owned paper, and "the guardian" says brown's son's medical records were sought by another news international property, "the sun." brown says he's shocked by the criminality. as if that wasn't bad enough "the daily mirror" reports even families of 9/11 victims in the u.s. were targeted by "news of the world" journalists. rupert murdoch, chairman and ceo of the parent company news corp is still in london and standing by his embattled chief collective rebekah brooks but her position is precarious, now that more of the operation has
1:41 am
been dragged into the scandal. news international issued a statement saying "so that we can investigate these matters further we ask that all information concerning these allegations is provided to us." it was the revelation that murdered school girl milly dowler's phone had been hacked into that caused this story to explode. her family met senior government officials monday to seek reassurances about a promised inquiry. their lawyer voicing concerns about links between the prime minister and rupert murdoch. >> the first visitor to ten downing street after the general election, first visitor to david cameron the visitor was rupert murdoch. questions need to be asked about the relationships between them and that's why we say that there needs to be a judge which has a power to compel witnesses to attend so that we can force them to be there to answer questions under oath to give evidence properly, not to shy away from it, not to hide away from it.
1:42 am
>> reporter: this is a scandal that a week ago seemed beyond imagination, each day bringing revelations more stunning than the last, leaving many people here in britain wondering where this will all end and who will pay the price. dan rivers, cnn, london. >> in the meantime news corp dropped its plan to buy bskyb. the takeover deal will now spend months in the hands of britain's competition regulator rather than those of the government which has been feeling the heat as the scandal has grown. >> if i were owning this company right now, bskyb and news corporation i would be focused on clearing up the mess that there is in news international with all the problems that are still coming out and i suspect there's many more problems to come out, deal with that before you move on to working out which merger and which takeover and how many shares and all the rest of it. >> the british prime minister, david cameron.
1:43 am
we'll take a break there and when we come back, we're going to be going to afghanistan for a live report on the murder of the gunning down of the half brother of the president, ahmed wali karzai has been killed at his home in kandahar. more on that after this. luck? i don't trade on luck. i trade on fundamentals. analysis. information. i trade on tradearchitect. this is web-based trading, re-visualized. streaming, real-time quotes. earnings analysis. probability analysis. that's what opportunity looks like. it's all visual. intuitive. and its available free,
1:44 am
wherever the web is. this is how trade strategies are built. tradearchitect. only from td ameritrade. welcome to better. try new tradearchitect and trade commission free for 60 days.
1:45 am
1:46 am
welcome back. let's bring you up to date on breaking news out of afghanistan. the half brother of afghan's president of afghan's president hamid karzai, provincial chief brother, ahmed wali karzai was shot. what do we know about this? this was a man with enemies. >> reporter: what we've learned is that the taliban is taking responsibility for the killing of ahmed wali karzai, a very controversial figure in
1:47 am
afghanistan, alleged to have tie to the opium trade, alleged to have been on the payroll of the cia, and he is alleged to have ties to numerous other elicit activities. >> he's actually, i think some people would certainly get the impression anyway that he was a guy who played all sides off against the middle, the cia, the world of drugs, in which he was deeply involved in the taliban themselves, so why did they kill him now, do we know? >> so far they have not, why they would kill him, although they called it one of their greate greatest victories in a decade long war against the u.s. and nato forces in afghanistan. why they would want to kill somebody allegedly involved in the opium trade remains to be seen. however, having played all sides he's certain to have made a number of enemies over the years. charles? >> what do we know about the
1:48 am
circumstances in which he was killed? >> he was killed -- homes -- i guess one of his guards shot him and he died soon after. >> i guess he was shot allegedly by one of his guards. meanwhile there's been an air strike in one of the parts of afghanistan. is that the work of nato? >> reporter: i haven't received word on where the strike was and if it was in reaction to this particular event. air strikes are ongoing here throughout the country particularly in southern
1:49 am
afghanistan, where u.s. forces have been the contraiting on trying to eradicate the insurgency there and in eastern afghanistan they have a more difficult time to doing so. charles? >> carmen joining us live from cnn kabul. we'll take a break and update you with the selling on the european markets in just a moment. stay with us.
1:50 am
1:51 am
live from hong kong and london you're watching "world
1:52 am
business today." another check on the stock markets in europe if we can bear to because this is not a pleasant picture. losses are very nearly 2.5% for the xetra dax. the banks at the top of the sellers board, the losers board throughout the european stock markets and the paris cac off by 2.6%. europe smi off by 2.6%. london ftse off by 1% and a lot of selling of the euro and to a lesser extent of the pound on the currency markets with people fleeing to the yen and the dollar as safe havens, pauline. >> quite a dismal picture so far. let's switch topics and talk about tech news. apple has accuse htc of
1:53 am
violating patents. they've filed a complaint with the trade commission. htc says apple should stick to competing in the marketplace instead of in the courts. the u.s. commission has the power to block imports of htc phones. in myspace the troubled social network fell to third place in terms of unique u.s. visitors, behind facebook and the professional networking site linkedin. comscores says myspace had 33.9 million unique visitors in june, almost half of its traffic a year earlier. the first ereader to sync with google's ebook library goes on sale this sunday. target announced it will be the exclusive seller of the iriver story hd which provides direct access to google's 3 million ebooks. the new device will sell for about $140, in line with
1:54 am
competitors like amazon's kindle and barnes & noble's nook. >> interesting. weather and severe storms are pummeling parts of europe while the united states is dealing with scorching hot temperatures. morl meteorologist jennifer delgado is at the weather center with details. >> it's been hot and humid across parts of the u.s., temperatures feeling like around 45 degrees celsius, if you want to know what that is, roughly about 104 degrees fahrenheit so anywhere you're seeing on this graphic, heat advisory, heat warning in place, anywhere in the pink as well as in the orangey peach shading spreading towards the northeast, get ready for more hot conditions, dang ru russly shot. stay hydrated. high temperatures 35 to 40 degrees celsius and anywhere you're seeing all that moisture from the south, in addition to the heat and humidity making the
1:55 am
air feeling rather heavy, talking about temperatures running nearly ten degrees above average for this time of the year. across parts of europe, look what's happening there, stronger storms moving through on the radar and we'll continue to see storms popping up as we go throughout the afternoon especially when we get more sunlight out there, the possibility of severe storms anywhere northern spain as well as some parts of france and notice it's going to spread over for areas including the lowlands and northern parts of italy so be careful out there and be sure to pay close attention to the weather forecast. i want to leave you with photos coming from last friday's "atlantis" shuttle liftoff and look at the photos here, these are some of the best we've ever seen, taken about 600 feet away from space shuttle "atlantis." the actual camera is triggered by the sound of the liftoff of the space shuttle, these are done by alan waters, and he is one of our ireporters and we love to see this. a lot of people are getting
1:56 am
really sad about this coming to an end but at least we have great images like this to keep the memory alive. back over to you. >> okay, jennifer delgado joining us live from the international weather center good to see you. thank you very much, jen. when it comes to bill clinton his friends and foes can certainly agree on one thing, he's rarely at a loss for words and that brings us to today's big number. $75.6 million. da, da, da, da! according to a cnn analysis of federal financial records that's how much the former u.s. president has earned in speaking fees since leaving the white house ten years ago. last year was mr. clinton's most lucrative ever on the speaking circuit. he got around $10 million for 52 paid speaking engagements during 2010. that is good money, but fairly hard work, assuming he's not recycling all his speeches and we did speculate that in our
1:57 am
editorial meeting. >> yes but not bad, charles, about $200,000 per speech which i'm assuming is less than one hour so not a bad paycheck. that is it for this edition of "world business today." thanks for visiting us. i'm pauline chu in hong kong. >> i'm charles hodson in london. good-bye for now.
1:58 am
1:59 am


info Stream Only

Uploaded by TV Archive on