i get 400 euros in unemployment benefits. my mother gives me a little and we try to get by. >> nearly 40% of young people in spain are out of work. that is the highest level in europe. on a global scale, unemployment among young people have spent rising sharply. >> in 2007, we were seeing a decrease in youth unemployment. this number shot up beginning in 2008. in 2009, the number increased by 6.7 million. >> the worst hit are those without vocational training, like jesus. he finished his compulsory education and then worked in construction. but the sector has been hit hard, and hundreds of thousands of workers have been laid off. jesus continues to ask for work at construction sites, but the outlook is poor. the international labor organization warns that the high jobless rate among the young could result in a lost generation. >> a human-rights group says that you gotta -- ugandan rebels have kidnapped people in an organized campaign in central and upper cut. the victims were taken from villages in the democratic republic of

it will pay an estimated 4 million euros per year. there are reportedly paying 15 million euros transfer fee per it -- transfer free. i>>> and depth is up next. stick around. >>> the german government is set to outline a new energy policy next month. at stake are billions of euros and the country's energy security. the government is considering reversing the landmark policy by the previous red-green administration to phase out nuclear power over the next decade or so. the issue has sparked fierce debates and has pitted the big energy companies against the german chancellor. >> the four giants of the german energy sector. eon, rwe, and others. they share 80% of the german market and one-quarter of their energy comes from nuclear plants. >> they run the german nuclear plants and obviously they have an interest in keeping these plants on line for as long as possible. that is because they're cost- effective and ensure profitable futures for the companies. >> the energy giants are calling for a longer life spans of at least 15 years for th

the euro stocks 50 climbed by 0.25%. in new york, new data from the services sector, keeping traders on their toes. the dow did manage to close higher a few minutes ago at 10,680 points. euro is trading at a value of $1.3160. germany's major corporate players have posted strong quarterly results in this earnings season. one of the best performances has come from [unintelligible] >> the world has seen its fair share of natural disasters this year. that has meant more work for disaster analysts, as well as increased costs for their employers. all the same, the company did not have to worry, because its overall numbers for the first half of the year were very good. the week euro bolstered foreign earnings and investment ending -- investment earnings soared. liability costs have been huge. the reinsurer had to make payments totaling $1 billion for the earthquake in chile alone. >> we had an unexpectedly good result from capital investments, but we had an unexpectedly bad result on the payouts front. it could be like that in

the euro stoxx 50 slipping 0.2%. in new york, the dow jones closed a few minutes ago basically flat, still negative. the euro trading at $1.3185. >>> the ecb has held interest rates at their record lows of 1% at their regular press conference. jean-claude trichet says the bank believes after a good second quarter, the third quarter is looking better than expected. this comes amid easing fears of the sovereign debt situation in some eurozone nations, which recently led to a weakening of the euro and high volatility on equity markets. >>> the european union and the imf said they are satisfied with what the government has done in greece to tackle their debt crisis and as a result athens has qualified for the next payout to help its recovery of the budget crisis. >> greece has received another boost in its efforts to stave off bankruptcy. the imf and the eurozone have given the green light to borrow another 9 billion euros in september, the second installment in the 110 billion euro rescue package. payments will continue

imports also rallied, with germany buying other goods worth over 300 billion euros. france has been surpassed. there is an increasing number of electronic goods sent to germany. >> this and other economic data helped trigger a rally on the european stock exchange. investors were also betting that the u.s. federal reserve will also announce furthesteps to stimulate the economy after their meeting tomorrow. our correspondent has more from the frankfurt exchange. >> german exports are just coming along, and that was great news for the investors here. business is going much better than people expected. there were the leading gainers at the start of the week is monday, shares like daimler. what is also good news from the point of view of the traders is that imports or also going very strongly, and a lot of those imports e gog intogerm firms to expand their production, to expand their exports in the future, also a good. the room for more sure pike -- price gains is there, but it is somewhat limited, people tçink, because of economic risk. >> there is also some good news f

for the euro had it happened and the rest of the world would have been affected i mean the euro has again a lot of strain. it is in default of many central banks around the world and that is something that would affect. europe and beyond and if for no other reason than that reason alone is probably going to assume that it was less likely that the euro would. look at european union. where they are in their relationship well as far as russia is concerned to russia has so on the. in the early stages of learning what do you being a union is it really started when mr yeltsin was over this is the first time when you know people in the kremlin. comprehended the idea of dealing with the. direct through the leaders of the member states. then it became quite clear what the power within the e.u. when it came to the problem of the visa mr putin trying to arrange that with then. german. chancellor and the french president and well it didn't work. so. it it i think this it is probably accepted in. probably a good idea to do with the director and that's how it started. well you know if for no other reas

the company has posted profits of over 410 million euros. that is its best result in seven quarters. it benefited from a rise in demand from the auto industry. the company has raised its outlook for the fiscal year ending in september. it expects earnings to be markedly higher compared with last year. in the shipping and logistics industries, there were hard hit by the global recession. now the international business is picking up again. container transport is growing again. the company that operates the port of hamburg said it handles 9% more containers of this year than in the same time last year. hhla has forecast higher volumes for the next quarter, as well as strong full-year growth. >> thanks. germany's defense minister is thinking about eliminating compulsory military service, according to media reports. in the face of cost-cutting pressure, the ministry has put together different proposals for overhauling the armed forces. he reportedly favors one that would reduce the size of the army by about one-third and large the end conscriptio

low prices and the the anglo americans are beside themselves because their attack on the euro is not working because the chinese are supporting the euro by supporting greece i don't see did the chinese dumping the dollar because that would massively devalue what they do have however they have intervened to sort of cross up the u.s. british strategy these are b. europe so they're showing certain signs of economic independence only game in the world right now is beggar my neighbor and dumped the depression on somebody else so they tried to do it with china the chinese have kept the renminbi stable they tried to do with europe that won't work sooner or later something is going to blow. take a look now at some other stories around the world this hour. rescuers have found the black box of a plane that overshot the runway in northeast china killing forty two people fifty four others were injured the plane was trying to land at night in fog and burst into flames the survivors have been taken to hospitals with three in a critical condition. approximately eight hundred thousand people remain

has asked governments worldwide to provide 350 million euros to fund efforts. revenues have been slow to come in. >> barack's most senior military officer has criticized a perimeter pledge by the u.s. to withdraw the last of its troops from iraq by the end of this year. at the defense conference in baghdad, the general warned the iraqi military might not be ready to assume full control for another decade. washington says it is on target to and combat operations by september and to remove all troops by the end of 2011. in afghanistan, several thousand prostrated -- several thousand protested the deaths of three men killed by u.s. troops in a nighttime raid. they shouted, "death to america," and blocked a road. the victims were suspected insurgents. the u.n. estimates that 300 civilians have been killed in afghanistan by u.s. forces this year. we will be taking a look at the challenges faced by german and international troops in afghanistan later in the show. poland has extradited a suspected mossad agent to germany. he is accused of assassinating a top hamas off

the european monetary fund the finance ministry for the euro zone countries. that is probably what is quite likely to emerge after. the problems with greece and with the ballooning deficits are dealt with to prevent a crisis like that to happen again they will probably take all the steps that they can think of to make this less likely what do you think will happen to the zero whatever you may think. when russia think that they will they follow the here it will be catastrophic for us as well what do you think is the real danger that something may happen to euro that would not be just catastrophic for russia it would have been catastrophic for europe had it happened and the rest of the world would have been affected i mean the euro has again a lot of strain. it is in the vaults of many central banks around the world and that is something that would affect. europe and beyond and if for no other reason than that reason alone is probably enough to assume that it is less likely that the euro would collapse look at question in your opinion where are they at in their

the euro stoxx 50 was also higher. the dow jones industrials were lower. the euro is at $1.2723. >>> toyota has recalled 10 million cars since last autumn. now another 1.1 million are being recalled in connection with an engine fault. the company says the recall is for corolla sedans and matrix hatchbacks. the company has had reports of three accidents and one minor injury in connection with the engine fault. >>> berlin expects to make a profit this year after a loss of 130 million euros and the first six months of 2010. germany's second-largest airline says it booking has started to pick up as more people gain confidence. it still hoped to exceed last year's profits. this year, the airline was hard hit by the cold winter, the shutdown of european airports for several weeks in the spring from the volcano. >>> the turkish owner of a company who fled. nearly two decades ago -- who fled britain nearly two decades ago has returned to the country to face charges after being accused of stealing millions of pounds from his firm. >> he returned to london 17 years

as it increasingly favors japan's yen and the euro investigative journalist webster tarpley explains why the chinese economy has started to look beyond the american market. the us hedge fund universe right soros einhorn paulson these people as we know had a plan to shift the depression into europe they were trying to destroy the euro with a speculative attack on greece spain portugal and so forth and this was done in an orchestrated fashion but the interesting thing is the role of china i think you can make the case now that china made a three pronged decision that they would not let the euro go down this was for technical reasons the chinese were essentially rebalancing this basket that they use to keep their currency stable and notice it has not gone up compared to that to the dollar so they were buying euro's for commercial reasons and also they made a political decision that they wouldn't let the u.s. destroy the euro and specifically the chinese have been buying up greece at very good prices right very low prices and the the anglo americans are beside themselves because their at

the euro is trading at $1.20. the world trade organization said the european union broke trade laws by imposing limits on goods such as flat-panel displays and multi-function but computers. there was an information technology agreement, abolishing tariffs on high-tech goods among so the members. but the eu says that now are -- that some of these are now consumer goods as opposed to technology goods. four german energy providers of threaten to pull out of nuclear power generation in protest over a proposed tax. the four say that 2.4 per year wrote tax would make nuclear power production and profit will. -- 2.4 your attacks. -- eruo tax. >> they have threatened to shut down due to a proposed tax on fuel rods. they see in light of the new tax, producing nuclear energy would no longer be profitable. nuclear power makes up about 60% of their production, and it constitutes about one-quarter of energy production at another company. a third company has nuclear power not playing such a large role, but they are all making b

the world bank will release $700 million euros to help the pakistani flood disaster, and the president is calling for a donor conference to collect money needed to rebuild the country. in the meantime, aid agencies warn millions are at risk for disease as they await assistance. >> the country's military has been flying countless rescue missions. many areas are cut off from the outside world. upon landing, hundreds scramble to get onboard the aircraft, but there is never enough space. most of these desperate people will end up staying behind. aid has arrived, but many complain that it has not been fairly distributed. >> they are distributed among influential people. the poor get nothing. >> and it is weakest in disaster-hit areas that are left with nothing. aid organizations view the situation with increasing worry. >> not hundreds of thousands but millions are at risk. they are susceptible to infection. >> the u.n. says the international community is responding too slowly, and it has received only a quarter of the money needed for the relief effort. >> i spoke to uoour correspondet and

the same for the european union, we can't afford to lose the advantages of the euro, a euro is a must. without the euro, we can't forget the european soul and the european market. when you need a single market, you need a single currency and it's very important, otherwise when you don't have this, you cannot come out like what we had a few years ago. we cannot afford to lose the advantages of the euro. we have to use all our energy and political will now to get the job done while the window of opportunity is still open. the crisis can be defined as a crucial and specific part of the situation or a trimming point. in the case of the european union, there's two options that break apart and emerge from the crisis stronger than ever. in my speech the last sentence is i believe in the latter option. it's very difficult and complicated, and you see to bring all the 27 member states with different interests gives you only one example. for example, germany has about nearly 25 percent of the gross domestic product in manufacturing, in industry. great britain has about 60 and 70 percent and fra

sales totalled some 1.2 billion euros in the last quarter. about 1/3 of the income was from chips made for wireless phones. of the total profit of 163 million euros, the wireless chip division generated a mere 24 million. the company has long had difficulty making money with its wireless chips. on top of that, the division will made huge investments to stay competitive over the coming years. now, it has decided to sell the division off to intel. >> it might make sense for infineon's short-term liquidity, but intel is the real winner in this deal, especially from a strategic perspective, and i think infineon is losing an important long-term strategic option. >> by selling off its wireless chip division, infineon could be turning its back on global mark. global smart phone sales are soaring, along with demand for wireless chips. >> onto monday's market action. after a strong finish to last week, european shares started the new week on a bit of a negative note. our correspondent send this summary from the frankfurt stock exchange. >> a bit of a

there is a limit on tariffs. 5 euros is enough.

there is a limit on tariffs. 5 euros is enough. [inaudible] most business people are afraid that making parking more expensive will actual impact their ability to do business -- will actually impact their ability to do business. >> it also depends on the sort of business and the sort of street. for instance, if the go on the street where gucci is and so on, and you need enough parking spaces. >> with the chairman of the society of amsterdam, they are also supporting this approach. they realize if they just press on the car accessibility only, in the end there will be no excess ability at all. they support strongly that only the people who need to come by car, they should be able to come, and the rest should make other choices. >> i think we are more or less at the stage where we are facing the same discussion. our experience is that a platform of business is much more open to try to find solutions which are not car- related, except for here and there. also, for the population, it is hard. they have in mind, if you are better off to

that the euro would. look at your opinion where are they in their relationship well as far as concern to russia. in the early stages still learning what do you being union is it really started when mr yeltsin was over this is the first time when you know people in the kremlin. comprehended the idea of dealing with the. direct through the leaders of the member states. then it became quite clear what the power within the e.u. when it came to the problem of the visa mr putin trying to arrange that with then. german. chancellor and the french president and well it didn't work so. it is i think it is probably accepted in moscow. it is probably a good idea to do with the director and that's how it started. well you know if for no other reason than the reasons of geography the two have to have a relationship and it's better of course for both sides at this place where it is based on corporation and not based on hostility now the problem is that the process of integration within the e.u. even those who have been

and the euro is trading at $1.2672. things are not looking up for air berlin, germany's second biggest airline. they made a much bigger loss than expected last quarter, almost 57 million euros. a lot of that comes into the major disruptions caused by the volcanic ash, from iceland. but it was already down in the gums and the first quarter thanks to the unbearably cold and long winter in europe. glad i missed out on that one. a plunging population and a drop in the number of skilled employees means germany has to make changes. the chambers of industry and commerce calculates that europe's largest economy will need up to 6 million employable individuals in the next 20 years. in berlin, political and economic players have come together to discuss how to deal with that shortage. >> edward is a mexican engineer working for carmaker in at the western city. germany needs more skilled workers like him. with the economic recovery gaining pace, companies need to add specialists to their payrolls, and fast. that is the finding of

they are competing for plans valued at about $9 million euros. orders in for 30 new planes. >> two associations said that the deals are too generous and make things less competitive internationally. more productive. >> the standard vacation time for german workers in practice is 6 weeks a year, a luxury germany can no longer afford. one company argues germans have significantly more vacation time, and compared with other european states, more annual leave, with a total of 42 days. germany has 40.5 days. the british have less, just under 33 days. romanian workers have the least, 28 days a year. many firms have order books full. workers can forgo vacation now and take it at a later date, should work slow down. >> campaigning has wound up ahead of what was said to be australia's closest election in decades. the opposition leader is almost neck-and-neck with joy gillard, after forcing kevin rudd from the party helm. >> it's going to be open and shut. his prediction points to a win by julia gillard. last mongth, dirty harry predicted the winner of the

. -- the euro stoxx is up. moving on, the swiss bank ubs has had its share of image problems, first its huge losses in the market 2008 and then it costly political battle with authorities in the united states for helping wealthy americans evade taxes, but now, the bank is moving into the fast lane, announcing a major deal to sponsor formula one. they say the sponsorship will be part of a new global campaign. ubs has largely been associated with a golf tournament and cross-country skiing. a change of pace there, i think you could say. >> what and germany's main opposition leaders has announced he will take a six-week break from politics for political -- medical reasons. he says he is donating one of his kidneys to his wife. >> his wife has long suffered from kidney problems. her husband says her condition has worsened considerably in recent months, making an operation necessary. >> we have that medical advice that the only real way forward is an organ transplant. given the lack of positive test results so far, i

it became a euro crisis with rapid shifts with investors massively pulling out of the euro. following government on the ninth of may you remember state agreed on the seven 150 ewe row rescue plan to save and protect all the big states too like spain. in total, loans were 500 billion euros were approved by the e. u. in addition, it was were available by the ims. in spite of the spes of these short term measures, recovery from both will be slow and painful, the financial and euro crisis shows the monetary union needs to be reformed. last week the u.s. congress adopted president obama's reform package bringing the biggest changes in banking regulations since the financial crisis in the 90/20. what is being done in europe to reform the markets? the european party and parliament requested a relation and following guidelines and principles. first currency. there has to be more currency on the market. for example too many credit defaults are traded over the counter and not on property trade market. second, responsibility, all market participants must take risk responsibility for th

the euro trading at the value of $1.3297. spanish economic growth accelerated in the second quarter, thanks in part to government stimulus programs. the central banks as gdp rose by 0.2% from the previous quarter. spain came out of the recession later than other eu members. there could be trouble ahead. the economy could contract again later this year as austerity measures kick in. spain has to contend with an unemployment rate of over 20%, the highest in the european union. blackberry services have reportedly been restored in saudi arabia after the hands that had stopped working for four hours this friday. a ban on the use of the device for sending and receiving messages was due to come into foe thifriday. the utdown and resumption has raised questions about whether and announced a ban has been lifted or not. early reports that research in motion have found a solution to security issues raised by local authorities have not been confirmed. research in motion is coming under increasing pressure to open its super secure network

they cost each 30 million euros to build. and the bicycles, you can't see it but more than a quarter of all trips and 40% of all trips up to 40 kilometers are made by bike. second is denmark with 20% and down to great britain to 2% and the u.s. only has 1% trip share by bike. advantages and the benefits of cycling, very short but, which you can capitalize is the health part, the reduction of health costs because the effect of cycling on health are above expectations. it's nearly all diseases will have less risk of occurring when people have enough physical exercise and all the extra, the ideal means of physical exercise is about half an hour a day, medium-intensive exercise. so it's far better than going to the gym twice a week and then, very intensive sporting for two hours. and what is easier than having this bike trip into your daily commuting? then automatically you have your half an hour exercise and it's been shown in the managementerlands that people who sigh -- netherlands that people who cycle to work have more than

it will raise 1.3 billion euros in revenue annually. that is not enough for opposition politicians. >> the proposed bank lev is just a ruse. it definitely will not protect the taxpayers in the event of another crisis. >> the government argues it had to find a solutiong that would not overburdened banks at a difficult time. >> investors continue to worry about the health of european economies. ireland's debt problems deepened on wednesday after standard and poor's reduced its credit rating. the decision to downgrade the rating will increase ireland's borrowing costs as a trip stable -- struggl to abilize it oubl bking sector. hecthe irish government quickly criticized s&p, saying it disagreed with the agency's conclusion. more optimism on the german economy. 7000 executives are pretty upbeat about the prospects of their businesses. the business climate index hit a three-year high. >> order books are filling up, and companies are investing in new technologies. germany has emerged from recession stronger than other industrialized nations,