tv World Business Today CNN December 8, 2011 4:00am-5:00am EST
continues, the new album is out now testimony thank you very much ago. >> you're welcome. >> piers, thanks. hello, i'm monita rajpal at cnn london, here are the headlines. fighting goes on in syria. an activist group says troops killed 16 people wednesday. meanwhile, president bashar al assad has commented on the crackdown in his country. in an american interview, he says he never authorized the use of anti-government protesters. many in the west are criticizing his comments. the interior ministry says it uncovered a plot to bring someone into the country. the group allegedly planned to forge travel documents for
gadhafi and his family. saeed gadhafi's lawyers deny these allegations. it is the latest conviction under the kingdom's strict laws against defaming the highly revered monarchy. two child trafficking rings in china have been busted by police after a six-month investigation. 178 children were rescued in the nationwide operation and 608 people arrested. chinese police say it is the biggest achievement since the launch of a national campaign against human trafficking. those are the head liens from cnn. i'm monita rajpal. "world business today" starts right now.
hello from cnn hong kong, i'm andrew stevens. >> i'm nina dos santos at cnn london. this is "world business today" and these are the top stories. containing the debt crisis. will europe's central bank do its bit to stop another rate cut? >> there's a big difference between partners and being nude. >> an actress suing over what she says are fake photos tries to set the record straight. also ahead -- ♪ >> and the city's the star is hollywood's movie machine reaches new heights. we're at the "mission: impossible" premiere in dubai. >> speaking of mission impossible, in europe some people could draw a few conclusions there as well. asian markets down, european markets are up, u.s. futures are
struggling for direction. the instability is all down still to the future of europe which could be charted in brussels on friday. before that, though, the ecb seems set to lower interest rated for the second time in two months as it tries to kick start the region's economy. but with the ratings agency standard & poors put the not just euro zone governments but the whole eu as a whole on credit downgrade watch, recovery still seems like a distant dream. i wonder with this latest credit watch, nina, does it make a difference to people's opinions what happens as far as credit ratings go in europe? >> people have been saying that for a long time, steven. given the kind of risks of a recession in this region and the risks to the single currency, people have been saying for a long time, perhaps aa is the new aaa for this particular region. tonight's europe's leaders will have plenty to chew on as they
sit down for a dinner ahead of friday's crucial conference. after a 20-month struggle to save the euro, the big question is could this prove to be the last supper for some of these leaders? jim bolden joins us live on the telephone from brussels which is where the summit will be kicking off later on. jim, it's by no means a foregone conclusion that we'll see anything concrete that they'll agree on something concrete. let's do the main road blocks that could be problematic. >> reporter: there are a lot of issues that they'll have to sort out, we know that now. we've heard from the leaders of germany and france. we heard from the european council. how do you get to closer integration? how do you get this fiscal compact? do you do this with only the 17 countries that use the euro or with all 27? that is still very much up in the air. the reason that matters because if you were to start having just
the country that use the euro making fiscal decisions about the european union as a whole and not allowing countries, say denmark and britain, to be involved in those decisions you could see a split happening, what some people are calling two-tier, even three-tier europe, because there are some companies out, like poland, who do want to join the euro. it's complicated. a the lo of politics going on, a lot of domestic politics going on. decisions have to be made, does germany get its way and have a legal compact, meaning the countries that violate fiscal rules would lose some of their sovereignty. would the european commission be the ones that penalize these governments? it's complicated. what we're talking about is the future direction not only of the euro but of europe. if they don't get this right this weekend, this friday night, i think the markets will punish them severely on monday. they know that this is probably
one of the last chances, if not the last chance, to get it right. it will be a complicated next couple days, nina. >> yes. certain eu sources have been telling me that a lot of the decisionmaking especially with regards to whether these plans will be applicable to all 27 or just 17 that use the euro have been saying that a lot of these decisions will be made of a cognac and coffee later on perhaps today and those negotiations could go on into the night. jim quarterback give us an idea, given the fact that s&p may downgrade some euro zone countries how important this split could be if we do see one emerging? >> reporter: yes. it's a good question. you put it right before, that aaa is not going to survive, because if you think about where we're going to -- if we do to fiscal union, if we go to europe on something that germany doesn't want, if we head that way, the treaty changes that take months and months, maybe even years were you're talking
about maybe confidence getting restored but not a solution. and in that time i would not be surprised to see aaa down to aa for some of these countries. so the split itself is part of the challenge these countries have. ultimately what we're talking about here is confidence. will they do enough by friday night to show the european central bank, show the market, the bond markets that they're moving in a direction. if they come out of here with a split that's nasty, i think the markets react the other way. >> okay, jim bolden, you have a couple of busy days ahead. he'll be following the ins and outs of that crucial summit, the last one of this particular year, andrew. nina, if you're neither shaken nor stirred by those debt resolution talks, i spy a solution. for your eyes only, jim will be back to cast a golden eye over
one contentious proposal. >> reporter: those some euro zone countries don't like the look of it, one day a single currency could come with just one bond, the eurobond. >> he scrubs up all right, does your jim, doesn't he? stay tuned for an explanation that will knock you for mi-6. nina? >> we'll look forward to that one, won't we? something to put a smile on our faces. another thing to put the smile on our faces is the european market performance. let's look at how things are faring about an hour and 15 minutes into the trading session. cautious optimism ahead of the crucial summit. investors are considering standard & poors possible eu downgrade. we have the ecb deciding on interest rates later on today. we have cautious optimism. they expect to cut lending rates by another 25 basis points later on today, certainly a dig
departure from mario draghi's pred seser the predecessor. just the euro zone markets up by the most, still only 0.5%. andrew? i have a question for you. is there choreography going on here? we had last week the move by the central banks to inject a bit of confidence back into the markets. that seemed to work. we then had the eu saying there was a ten-days to sort out the eu. that deadline expires tomorrow. is this the ecb or are we likely to see the ecb taking much bigger steps today to show that they're in on sorting out a solution, to lay their hand out a bit to show they're also serious and everybody's pulling in the same direction? >> yes, andrew, we did have a bit of a hint earlier on last week from mario draghi that perhaps we could see a little bit more support for those countries like spain and italy whose borrowing costs are
getting exorbitant at this point amid all of these concerns about rifts between eu members and exactly how to solve the euro zone debt crisis and the viability of a single currency. we saw hints when he gave a statement to the european parliament last week but we haven't had anything official from the ecb saying they would come in and step in significantly to support these markets should we get consensus. there have been some reports circulating that perhaps they could. we haven't had that confirmed though yet, andrew. >> we're watching that one more closely than usual. everything the ecb does at the moment very closely scrutinized. here in arsiasia, investors cautious ahead of the eu sim it. starting in japan, we have machinery orders out today. they were down much faster than expected in the month of october.
6.9% fall for the orders for new machinery. the expected fall was 0.5%. this says companies are not going capital expenditure which is a bad omen for growth. exporters were down on japan, the broader nikkei finishing down by 0.66%. earlier this day, first day the australian bureau statistics announced a surprise increase in unemployment. the jobless rate up at 5.3% in november. from 5.2% in october. that spooked the markets a little bit. the aussie markets off by 0.3%. news was stopped perhaps more on the currency markets, the australian dollar down on the news. it's made up some of the losses trading at 1.03 against the u.s. dollar.
nina. meantime in the united states, this is how things fared on wednesday, stocks drifting amid ongoing investor fatigue about the debt talks that are set to take place in europe. it was a mixed picture by the close of trade, the dow gaining just over 0.3%. the nasdaq finishing flat and the s&p 500 was up 0.2%. looking ahead towards the opening bell later on wall street today, u.s. stocks look set for a relatively flat open when trading begins later on thursday. this is where the u.s. futures stand at the moment. just a couple up by 0.06%. not much more for the nasdaq. that's mirroring the picture we're seeing at the moment ahead of the ecb move on rates. >> after last week's sayre surgeon wall street when markets put in their best performance for almost three years, those pretty flat future numbers indicate renewed caution, obviously about europe. at least one person is confident that euro zone leaders are on track to conquer the crisis and
that is the oecd secretary general. earlier he spoke to richard quest. >> identifies the real issues. and that is first they de facto, then maybe a fiscal union, the necessary fiscal discipline in order to build a resilient, strong safety net and hopefully you will never have to use it. you have to have the awesome firepower, the strong safety net. you have to have the bazooka so you signal to the markets that you have it and maybe the markets will quiet down. there will be a truce. right now, we started with the slingshot, you know? we've been upgrading. now is the time to use fully the balance sheet of the european central bank, to use fully the esfs and use fully the imf's own resources but also with many countries that want to lend into
solution of europe via the imf and that is happening as we speak. >> do you fear that the treaty change mechanism that may be forced on countries will be so slow and schlorotic and difficult, if they go down this treaty route it can't happen in time. >> we have lost a lot of time. we should have dealt with greece two years ago. there was the original sin. we said any country that uses the euro cannot be restructured, cannot default. this was an overindebted country and we allowed a lot of contagion to happen and we're now paying a high price. it's never too late. the question is now, as i said, you need to have the discipline. at the same time, come out with your big guns, come out with the
firepower to say, i can support italy, i can support spain. i can't support france. i can support germany who, of course, only a few days ago could not place a bond issue. up next on "world business today," a pakistani actress disowned by her father over racy magazine snaps sets the record straight. we'll be right back straight after this. nyquil:what? tissue box (whispering): he said nasal congestion... nyquil: i heard him. anncr vo: tylenol cold multi-symptom nighttime relieves nasal congestion... nyquil cold & flu doesn't.
and what it doesn't cover can cost you some money. that's why you should consider an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. all medicare supplement insurance plans can help pay... some of what medicare doesn't, so you could save... thousands of dollars in out-of-pocket expenses. call now for this free information kit and medicare guide. if you're turning 65 or you're already on medicare... you should know about this card -- it's the only one of its kind endorsed by aarp; see if it's right for you. all medicare supplement plans let you keep your own doctor, or hospital that accepts medicare. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't pay... and save up to thousands of dollars in potential... out-of-pocket expenses with an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. call this toll-free number on your screen now... for this free information kit, including this...
international war of words and now lawsuits. sara sidner sat down with the mod at the heart of the scandal. >> reporter: when fhm magazines hit the stands revealing veena malik in the nude, heads turned in india. the interior minister promised an investigation and the actress' family disowned her. we convinced veena malik to sit down for a chat. what did you father say? did he spoke to you? >> he did not speak to me. he spoke to one of the media groups. he was like -- he was like too ups upset. and i think, okay, i don't blame him for that. >> reporter: on the fhm cover, it appears malik is only wearing one thing, the initials isi.
those are widely known as the acronym for pakistan's feared intelligence industry, not exactly a wholesome image in a conservative nation. she accused fhm of tampering with the cover photo to make it appear she was nude when she wasn't. >> did you pose nude for this photo shoot for fhm? >> i did not actually. >> reporter: were you topless? >> actually i was but i was not nude. there's a big difference between topless and being nude. you will see body shots where actresses went topless, like i and i think i probably have a better car than you. but isn't that the guy mentality, the ego, the macho?
public apology and threatening to countersue malik for defamation. >> she was completely aware of the cover. she was completely aware of the concept. she loved the concept. she said it at least 15 times. >> reporter: malik denies that but did tell us the photos inside the magazine are all her, even with the one topless, even the one with a grenade in her mouth and isi on her arm. isn't this men to the shock people, get people talking about you, about the magazine, about the issues? >> honestly? >> reporter: with india and pakistan? >> if you ask this question to the photographer, see, they came up with the idea -- >> reporter: but you went along with it. >> they came up with the idea and we did not discuss whether people will talk about it or not talk about it. >> reporter: in pakistan and
india lots of people are talking about what did or didn't happen, getting the actress and magazine more attention than they ever dreamed and perhaps that was the point. sara sidner, cnn, mumbai. up next on "world business today" -- >> it is the christmas buying season. what many people don't remember is that currency fluctuations have an effect on retailers and that could be a problem when it comes to profits. we'll meet one man who will tell us exactly what that means. a® n. removes 99% of dirt and toxins without dyes, parabens or harsh sulfates. so skin feels pure and healthy. [ female announcer ] from neutrogena® naturals.
welcome back. the euro has been trading pretty flat against the dollar for most of the day. ahead of that rate decision from the ecb and friday's crunch meeting. at last time we checked it was up about 0.1% with one euro a touch over $1.34. what i want to show you is this performance since wednesday of last week. now, that is the day that the eu commissioner ali rhenn gave his, quote, ten days to save warning. back then the yaur row was trading at 3314, 1.3314. it rose to 1.3355.
it fell back and in the coming few days -- in those few days it's been hovering around 1.34. and really, nina, you can't see it going one way or the other until probably late on friday. >> just like the markets and also the bond markets as well. keeping with currencies, timing the currency market, andrew, can have a big impact on businesses importing european goods. felicia taylor spoke with one retailer who's trying to his best to predict how instability will affect prices and profits as well. >> reporter: it is the christmas buying season. what many people don't remember is that currency fluctuations have an effect on retailers and that could be a problem when it comes to profits. we'll meet one man who will tell us exactly what that means. so here we are beginning in spain at the wine merchant distributor. >> wine myrrh chan, wine
retailer. >> reporter: with the ceo chris adams. he'll explain why currency fluctuations make such a difference. >> if i'm buying in euro, then i need to look at what the currency has done over the next six months and try and project what it will do over the next six months. because i have to cost the wine to the customer, find out the best time to take my position. >> reporter: that's key when dealing with currency fluctuations. a cheaper euro means greating purchasing power for sherri lehman. >> right now we bought. we're in selling mode. certainly looking forward, it's something we've dealt with in the past that we'll deal with again going forward. we're seeing this level of uncertainty is what's causing most of the pause right now in the market where we're not sure what's going to happen in the euro zone over the next six months. >> let's walk over to france. is the euro going to last. >> the euro is going to last. as much as i can prognosticate,
yes. in this market what we try to do is be as competitive as we can. it's difficult. if we're getting advantage on a position on a conferencecy, we want to pass that through to the customer. that can't always happen. what you try to do if you're gaining something on the currency, you have to look. it's a global market. you have to look your position in the market and try to keep your prices stable as much as you can for as long as you can. >> reporter: a toast to the euro that makes for a bigger bet on the bottom line. still ahead here on "world business today," expectations are rising for another rate cut, coming from europe. we'll be looking at the dilemma facing the european central bank in the current crisis. don't go away. ale announcer ] still getting dandruff? neutrogena® t/gel shampoo defeats dandruff after just one use. t/gel shampoo. it works. neutrogena®.
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 it's available free, wherever the web is. this is how trade strategies are built. tradearchitect. only from td ameritrade. welcome to better trade commission free for 60 days when you open an account.
from cnn hong kong, i'm andrew stevens. i'm nina dos santos at cnn london, this is "world business today," live on cnn, the world's news leaders. let's take another look at how the european markets are faring 90 minutes into today's trading session. take a look at this. what we're seeing is basically cautious optimism ahead of today's key ecb rate decision, the second to be made by the new man at the helm of the european central bank, mario draghi. many are expecting him to cut interest rates across the euro zone by another 0.25%. that's why people are cautiously optimistic ahead of any announcement.
we also have an eu summit on the cards. that's getting people to be a bit cautious. andrew? the interest rate decisions are historically designed to keep inflation in check. right now it's hovering around about 3%. that's a full percentage point above where the lender would like it to be. steering inflation is a very german priority and the ecb has, until now, been a very german bank. it's increasingly under pressure to widen its horizons. ♪ >> reporter: happy days back when the euro launch. ♪ we will share the green forever ♪ >> reporter: a monetary union watched over been a independent central bank, a bank based in frankfurt with a single mandate, keeping inflation low. how did germany get to make the ecb so, well, german?
>> the germans really trusted the bundes bank. because of their standing in europe as a major economy, it was clear the other countries had to give in at some point with regards to the creation of the central bank. >> reporter: visit the history museum in berlin and you'll see why germans are so keen on that inflation-busting mandate. >> this is one of those classic images from that period of hyperinflation here in the germany in the early 1920s. a company would want to pay its workers and it would have to bring in wheelbarrows filled with notes. as soon as you got that, your wage, you would rush to the shop, the bakery, with a sack full of notes and try and buy whatever you could. almost a century later, do people still worry about
inflation? this man says he didn't did the. germany's never had it so good, he tells me. we have full employment, why should i worry? does inflation keep you up at night, do you ever think about it? >> no, not really. >> reporter: what about the role of the european central bank, have you ever thought of that? >> yes, it's important for germany's future and europeans future. there are some things going on current that is not in line with the contract. that's important. >> reporter: some argue germany must learn toen abouted the rules. >> when we're dealing with pathological times such as the great financial crisis of 2008 and '09 and the disturbance we got in the euro zone, one has to start looking for more flexibility. there is not a rule book that simply says there's one gas pedal and there is one brake pedal and that's all ye shall
use. >> reporter: new ecb president mario draghi is just one month into the job, too soon to know whether he'll stick to his mandate as his pred saecessor d or push it to its boundaries in order to solve the crisis. diana magnay, cnn. fascinating story. let's tell you what happened on the asian markets this day as we begin the final couldn'tdown towards what could be an historic eu decision. the caution definitely is returning to the markets, not just in asia but pretty much everywhere at the moment. it wasn't helped either here by some weak economic news coming out of japan and australia. and japan manufacturing orders were down sharply. suggesting that japanese corporations are cutting back big-time on spending. exporters dragging the market
down in japan. australia was hit by higher than expected unemployment. the australian unemployment number coming at 5.3% after 5.2% the previous month. and that took a bit of a sting out of the australian markets by about 0.3%. nina? let's look at how u.s. futures are currently trading at the moment, andrew. it seems as we could be set for a bit of a lower open when trading begins on thursday. that highlights how things are changing at the moment. there's a lot of concerns about what may be in the cards at the ecb and what may be on the cards at the euro zone summit later on today and also tomorrow. you can see, they were flt before but now it seems we're edging into negative territory just as europe it seems is surrendering some of its early morning gains. >> after revealing it put billions of dollars into risky bets on european sovereign debt, the firm mf global was forced into bankruptcy. but the case is far from closed.
one trustee overseeing its liquidation says there's still more than $1 billion missing from nf global's books. the former ceo, jon corzine, is to testify before u.s. congress later on thursday as u.s. authorities continue their investigation into the broker's collapse. ni nina. >> andrew, let's give you background. out of $5.4 billion of customer funds at the futures firm, 1.2 billion may be missing it seems. the story broke back in october, when mf global actually filed for bankruptcy. it was the eighth largest bankruptcy in u.s. history. the news has shaken the markets and the fbi and federal regulators are now involved to try and find out what's going on here. more than 38,000 accounts were affected it seems. some analysts believe that mf global may have illegally mixed customer money with its own funds, however, no one at the firm has formally been accused of wrongdoing for the time being. >> naturally the firm's collapse has had a negative impact on
investors but some more than others. one single mother and former mf global client says she lost everything and can't even afford christmas for her children this season. >> we can't pay the rent. we can't pay the car. we can't pay the car insurance. the condo insurance, the property insurance. you know, i have credit cards. expenses, we've had to, you know, go have meals at friend's houses and things like that. and christmas is here and i have no money. i have nothing. the birthdays, christmas, it's kind of been canceled for right now. it's very unfortunate. it's sad. it's really sad. the people that are affected by this are not just some big mega millionaires that are trading oil, you know, it's not just chevron or texaco.
it's grain farmers that people are losing their farms because they can't hedge. it's individual people like me. it's unbelievable to me. it's like a dream. it's a shock. it's so shocking. >> well, this next piece may bring a little bit of hope back for that woman. cnn spoke to kent gerald ab i spokes for mf global trustees. he says, we understand the frustration of former customers. we are doing everything we can to get the assets back as quickly as possible. the obligation is to be equitable and fair to all customers. he also says the trustee has funds in place to refund 66%, two-thirds, of the value of customer accounts. it must hold the rest in reserve until all claims can be verify. nina? still to come on "world business today" -- ♪
imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen ... your power chair will be paid in full. the scooter store. hi i'm doug harrison. we're experts at getting you the power chair or scooter you need. i didn't pay a penny out of pocket for my power chair. with help from the scooter store, medicare and my insurance covered it all. call the scooter store for free information today.
a warm welcome back. you're watching "world business today." it's a fascinating case of he said/she said in the top tier of european politics. another split emerged this time over european debt or eurobonds as they're being called. the european council president said he saw a possible future for them. angela merkel just convinced nicolas sarkozy to resign that idea to the past. >> translator: what a strange idea it would be to mutualize the debt.
how could we convince others to make an effort that we ourselves are doing? if we mutualize these debts from now on? this has no sense. >> translator: this was said in straussburg. nothing has changed because we reject the idea of eurobonds. >> the idea has had plenty of supporters across the 17 countries within the euro zone but understanding how these particular bonds would work, it seems, is a little bit more complicated. thankfully, our man jim boulden explains here on his mission. ♪ >> reporter: the name is bond, eurobond, 0017, with a license to borrow. ♪
though some euro zone countries don't like the look of it, one day a single currency could come with just one bond, the eurobond. so what are my key ingredients? well, you start with the gin. that's the bond or the debt. then, we have the sweetener, either vermouth or vodka. this is the yield, the interest rate on the bond. and because we're in europe, a mediterranean olive. ♪ to have one bond would most likely mean mixing all the euro zone's debt into one pool. the glass half full argument, greece and ireland can ride the coat tails of stronger countries like germany. so borrowing costs for all would fall. the glass half empty fear, germany and france lose their aaa rating because of poor quality debt mixed in.
so a eurobond would have a higher yield or interest rate to attract investors. a euro bond is not enough. first must come fiscal union. governments that violate new budget rules would lose control of tax and spend. but would the 17 euro zone countries or indeed all 27 eu countries swallow such a cocktail of new rules? unthinkable before the debt binge? >> but a problem shared -- ah, ms. maniro. cheerses. >> cheers. >> reporter: is not always a problem solved. however you package it subsovereign risk is still a sovereign risk, the hope, of course, for the yaur row to live another day. jim bond -- i mean jim boulden, cnn. judging by the lethal amount of debt that jim seems to have
put into that cocktail it could be dangerous stuff. >> you and i are exactly the same. i think there were four, four drinks or four bond expositions dealt with there. good effort, jim. great story. got to love that. jim boulden. as i said before, he scrubs up pretty well. let's tornado now to the weather situation, the heavy snow and rain, not to mention strong winds in store for parts of europe today. of course this could lead to some travel delays. let's go to jen delgado at the cell weather center. hello, jen, how are you? >> hello there, andrew. i have to tell you, you're right, we are dealing with delays today. i checked glasgow airport, various airports throughout the uk and they're warning to passengers to check ahow'd because of the strong winds, in addition to the heavy rainfall. this will lead to more delays today. things have ban rather active. heavy rainfall moving through central england up towards the
north. you can see a little bit of snow starting to change over to more rain. still in the higher elevations. still talking about some snow and you combine that with cold temperatures. this is going to lead to bad travel weather as we go through the next couple days. i want to point out to you, temperatures around 10 to 11 degrees, that's roughly 50 degrees celsius. most areas are warming up above freezing. as we go later into the evening, we'll start to see certainly more slick spots out there. let me point out some of the winds right now, 50 in glasgow, 50 in dublin, 39 in aberdeen. that's roughly 35 miles an hour. they continue to increase as we go into the evening hours and then they'll start to diminish by tomorrow. the problem is, this is going to be bad traveling on the roads as well as for the airlines. make sure you're checking ahead. as i show you on the satellite, you can see the activity, area of low pressure moving parts of northwest europe.
this is bringing snow and rain for areas including belarus as well as ukraine. that means, of course, some more snowfall out there. and some areas definitely need it. we've been dealing with drought through parts of central as well as western and eastern europe. as i put this into motion, you can see where the precipitation is going to be as we go through the next couple of days. i talked about, earlier this week and last week, how parts of europe really need some snowfall. i have a view for you. this is in southeastern parts of france. look at here, lots of snow out there. they are not at a shortage of snowfall right now. that's good news for the ski resorts. and, of course, the skiers. we'll take a short break. we'll have more "world business today" in just a moment. stay with us.
ghost protocol, tom cruise and company will be saving the world one step at a time on a screen near you as of december 21st. >> as they always do. of course, much of the focus is on the leading man, tom cruise. the arab emi. ate of dubai is also playing a starting role. >> reporter: it's that familiar
tune that signals hair-raising stunts and death-defying adventure. ♪ the latest installment of the "mission: impossible" series centers part of its plot around dubai. ♪ one of the seminole scenes sees tom cruise's character, ethan hunt, scaling the world's tallest tower. that's brought new focus to the city that staged the world premiere of the film. "mission: impossible" iv is kicking off this year at the film festival and the ste has be -- city has been abuzz as they hit the red carpet. all the chatter was about how dubai's larger than life landmarks drew the filmmakers to the city. from the city what were you hoping to get? >> what we got, big cinema. tallest building in the world. >> all of the architecture is
very modern and it's almost like a joan the movie set. >> reporter: tom cruise has had his share of nail-biting stunts but at a press conference earlier in the day, he said dangling from the dizzying heights was one of the hardest he's ever done. >> i'm not afraid of heights. i was afraid of falling. i didn't anticipate the cross-winds when you're that high. >> reporter: it brought praise and admiration from his co-stars. >> i went up to see him doing it. i think it was one of the few times in my adult life i thought, thank god i am not tom cruise. >> reporter: jokes aside, it's the first time dubai's modern skyline has played such a central role in a hollywood blockbuster. now with its new-found exposure, it may nobody be the last. what we have at the moment is some of the markets rising a little bit, muted gains at the
moment. we'll be able to show you perhaps later on in the show. muted gains ahead of the ecb decision later on today. let's take a look at what happened in asia. the trading day has now finished. not sure if we can get the numbers here in asia. no, we can't. i'm being told the pilot system is down, nina. i think i heard that before. >> perhaps it's time to bring in jim boulden to try and save our graphics system. in meantime, that's it from the two of us. >> nina, i'd have to say i reckon mrs. boulden may have put jim on a negative watch after that package. >> brace himself for a gray day sitting at the bar. >> i'm andrew stevens. >> and i'm nina dos santos from cnn london. we'll see you during the next edition of "world business today."
when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you from paying up to thousands of dollars... out of your own pocket. these are the only medicare supplement insurance plans... exclusively endorsed by aarp. when you call now, you'll get this free information kit... with all you need to enroll. put their trust in aarp medicare supplement insurance. plus you'll get this free guide to understanding medicare. the prices are competitive. i can keep my own doctor. and i don't need a referral to see a specialist.
call now to get a free information kit. plus you'll get this free guide to understanding medicare. and the advantages don't end there. choose from a range of medicare supplement plans... that are all competitively priced. we have a plan for almost everyone, so you can find one that fits your needs and budget. with all medicare supplement plans, there are virtually no claim forms to fill out. plus you can keep your own doctor and hospital that accepts medicare. and best of all, these plans are... the only medicare supplement plans endorsed by aarp. when they told me these plans were endorsed by aarp... i had only one thing to say... sign me up. call the number on your screen now... and find out about an aarp medicare supplement insurance plan. you'll get this free information kit... and guide to understanding medicare, to help you choose the plan that's right for you. as with all medicare supplement plans, you can keep your own doctor and hospital that accepts medicare, get help paying for what medicare doesn't... and save up to thousands of dollars. call this toll-free number now.