. >>> breaking news out of london. police say that they are sending squads to a theater in london where there are multiple casualties. more on that coming up. i'm jake tapper. this is "the lead." >>> the national lead. breaking this afternoon, eight federal inmates all convicted of crack cocaine offenses, president obama's putting them back on the street because he says the punishment far outweighed their crimes. do you agree? >>> also in national news, we are well into the backlash against the backlash against the star of a & e's smash hit reality show "duck dynasty." his comments about gays won't win him any g.l.a.d. awards but should he be suspended for preaching the bible according to his faith? >>> the world lead. dennis rodman once again visiting his best pal, kim jong-un. how big of a headache is it for the u.s. government when celebrities go rogue to rogue states? good afternoon. welcome to "the lead." i'm jake tapper. we'll have that story breaking out of london in just a moment but we are going to begin with

but they're booking them through london this brings up this whole issue of hypothecation which you've discussed previously which is that what they're doing is they're trading in the u.s. they're booking their trades. because there are no rules and hypothecation of the underlying collateral within the london's system just like you know there are a lot of issues that are coming together here and the first step for me is the fact that. there is a discussion over investigating the fix so i think that's that's the first stage towards raveling of what is a broader problem the hypothecation. as we've talked about in the show in london unlike other financial jurisdictions it's possible to lend the same security infinite number of times and call that collateral to be the basis of some other derivative trade you can do a trade in a derivative that in itself has no intrinsic value really it's just mathematical gobbledygook and you collateralized it with something that's already been sold ten times over again so this is really this is reminds me of the pappa see where they're trying to count the.

seen in the last five years have been run through london and this is an issue to see f.t.c. are trying to deal with here where they really meaning to deal with it max or not i think is a different question but the thing is being brought up by gary gensler who's also leaving the end of the year is that they will be requiring the big swap deal is the big banks to prove collateral in london in europe against trades which they're doing in the u.s. and i think it's a very interesting subject which isn't well understood or probably covered that much in the media right now here in the business so this has a direct impact on your business so you're not you're not saying you're not you know whistleblower you're not being over overly critical of the situation so much as you are trying to draw awareness to it because this is your bread. but i mean this is what you deal with every single day for better or worse the industry is the industry so how do you deal with clients i mean you're dealing with clients all day long and yet it's an open secret that there are these shoes problems so on

>> i have played london before with gypsy and also [indiscernible] i have done other shows in london, but not for 40 years. play, tok and do a play madame mccarthy there, i think she would be tickled to death knowing that that is what i was doing. she was a wonderfully unique and very special woman. i have had the honor of seeing you on stage a couple of times. recently with james earl jones. moment ago that the memory for lines is in a different compartment. it is amazing to me. a wonderful production, she is 88. you are 88. i am stunned every time i sit and watch her or watch you pull this off. artistry, the timing, and the memory. i don't get how you remember all those lines. what you're saying and i wonder myself. a six came back from months to her of driving miss daisy. role and shee never stops talking. shouting. we had a fantastic time, incidentally. we got along. we might do another show next year. how long it'd dance of a production are you practicing? -- in advance of a production are you practicing? >> i usually arrive at the first with a vague memory of most of it. what ha

what is the fix for the fix is a twice daily setting of the of the price point at the london bullion market association who are there are a bunch of bullion banks which are the main mainstream large banks but i think the thing that's really interesting is that it will hopefully lead into other areas when they talk about benchmarks you've got the go forward rate you've got. recently canned but also i think from there once people become more aware of the issue of lack of transparency in the fixes and in these in these self certifying. markets then hopefully it will lead to the bigger issue of gold obligations the fractional reserve banking system the broader subjects are discussed what are the what is the point of the fix what purpose does it serve. well it serves to provide a benchmark against which transactions can be can be set in these labor are not like the stock market up the closing price and then the next day they'll say the stock closed at such and such a price in the gold market they use this fixed price they get together and they fix the price well they just go to a system w

in the last five years have been run through london subsidiary and this is an issue to see f.t.c. are trying to deal with here where they really meaning to deal with it max or not i think is a different question but the thing is being brought up by gary gensler he's also leaving the end of the year is that they will be requiring the big swap deal is the big banks to prove collateral in london in europe against trades which they're doing in the us and i think it's a very interesting subject which isn't well understood or probably covered that much in the media net so you're in the business so this has a direct impact on your business so you're not you're not saying you're not you know whistleblower you're not being over overly critical of of this situation so much as you are trying to draw awareness to it because this is your bread. but i mean this is what you deal with every single day for better or worse the industry is the industry so how do you deal with clients i mean you're dealing with clients all day long and yet it's an open secret that there are these shoes problems so on

prize gold price is fixed rate it's not fix it's rate what they call the law of the london reg price what i think is interesting i think the german seem to be bill bit stronger on this and they seem pretty clear that that's exactly what the problem is. and that things should be a lot more open than they are but i think that this point feeds into a broader discussion which the c.s.t. see of brought recently which has to do with the fact that the us and european slash london markets have different processes for dealing with the collateralized classifies ation of the of the swap market in the physical market in gold and silver as well. if you want well let's talk about the c f t c for a second because they just whelmed up look and two so over price manipulation and our children. is their stock in course the guy who would go on the media outlets and say we're looking at a price fixing and so over in price manipulation summer we've got the smoking gun we have andrew maguire who provided them with concrete irrefutable evidence that this manipulation was going on and then they just missed t

those in downtown london. they have a history of protecting these buildings. in fact, prince charles has the prince's trust which goes around the country to protect old buildings. they also have a history of keeping them in good shape. this kind of thing, very good history of protection and inspection so this would be a surprise. it's not like in london, they're not used to having old buildings like that that they have to maintain and inspect. >> they certainly do. stand by. cnn's erin mcloughlin is in london for us right now. what are you hearing from officials there? >> reporter: hi, wolf. the london fire brigade now saying that seven people were seriously injured in this incident, 80 walking wounded, all trapped -- all that were trapped now free. that according to the london fire brigade, metropolitan police tweeting that they do not believe there have been any fatalities as a result of this incident. also saying that even a london bus at one point was used to transport wounded to the hospital in an inciden

later they tweet on london service on scene. we have had reports of multiple casualties and then they tweet it is thought there are around 700 people in the theater. noters on scene, we want to show you what simon has tweeted out, he wrote -- was watching curious incident at the apollo theater when ceiling collapsed on audience ten minutes ago chaos, he says i am fine, but serious injury i fear thin he tweeted this out, lobby filled with head injuries. later francisco tweeted this. he was at a nearby restaurant when he heard the chaos, he went outside, he took this picture, balcony collapse. he also tweeted this picture earlier, that you can see emergency crews on scene, and he also tweeted this one as well. and we also have this one from tony mcmahon, he was outside the apollo theater as well. mariah we should point out the police, and sometimes the european tiesnition of casualties is a bit dimpling. by casualties that may be referring to injuries. police, and firebreak guyed reporting perhaps 30 injuries no actual fatalities

. >>> whiskey is on the comeback trail in london. they may not be able to sell their home grown product for awhile. donut friday at the office, i use my citi thankyou card to get 2x the points at the coffee shop. which will help me get to a beach in miami and they'll be stuck at the cube farm. the citi thankyou preferred card. now earn 2x the points dining out, with no annual fee. go to citi.com/thankyoucards >>> whiskey has not been made for more than 100 years in london. now a group of entrepreneurs is breaking into the whiskey business to change that. we have more on the whiskey comeback in london. >> reporter: matilda is starting to purr. this copper bottom whiskey still, they always seem to have female names, is now starting the long process of fermenting whiskey in london. >> london is crying for a distillery taking it on a small scale. craft brewers can bring in a brew set. why not add a still? >> reporter: they wanted to play off the heritage of london whiskey making, but had to go back to the 19th century to do that. >> it c

apollo theater in london. they believe a balcony has collapsed during a performance. keep in mind, it's 15 minutes before 9:00 at night in london, theater time. and our sister network is on it. >> hello, just saying -- in row q, halfway through the first half of the performance, sound effects and noise in it already, but a huge crack happened, a banging sound, which for a split second everybody thought was something to do with the performance, and then my whole view of the stage was obscured by a huge cloud of thick, gray dust. i was underneath the upper -- the balcony, so i sheltered myself, and anyone from rows -- in the circle would have been showered in this debris. when that happened, i -- my girlfriend and everybody sitting in the theater, after that split second of realization, i got up and ran to the door in a panic, and since then i've been standing outside, watching people now all over the road and the foyer, receiving treatment for head injuries. i asked one of the firemen, one of the senior firemen

>> charlie d'agata in london. thank you, charlie. >>> potentially dangerous weather will begin to spread across a large part of the country today. depending on where you live, it includes the possibility of strong rain, torrential flooding, and ice. eric fisher has more on the forecast. >> messy days of weather ahead. there's hail in southern california and some pretty heavy snowfall in higher elevations. this is the same energy that's going to track across the country. it's going to bring the whole kitchen sink. ice, snow, severe weather, heavy rain. we'll have it all. it comes together on saturday. there will be snow and ice on the edge of this one. we'll also look at a big severe weather threat on saturday. especially here, lower and mid-mississippi river valleys. could see damaging wind gusts. also several tornadoes could not be ruled out as we head through the course of saturday. then into sunday more rain on the east coast. the severe threat including charlotte and atlanta and significant ice will work its w

incredibly congested area of london, no doubt. theater goers most likely terrified at the sight of something like this happening. very unexpected here on a thursday night in london. >> just looking down at my notes, stay with me, apollo theater seats more than 775 people so pretty sizeable theater here. more than four levels. it's historic, it opened back in 1901. so four levels. there was initial confusion whether or not it was the ceiling or a balcony. forgive me if you mentioned this off the top, but do we know definitively what it was? >> reporter: at this point, authorities aren't -- they're simply not saying. we are still trying to piece information, we have the press association reporting that it was a balcony but that according to eyewitnesses so we're still waiting to hear from official sources. >> you have to wonder, a theater of this size, whether or not it was packed or not. if we're talking 775 people and you have -- if it was a balcony coming down, you have rescue teams on the scene presumably there are people trappe

at decision block be live london time -- that decision will be london time. statement will be followed by that bank of england rate decision later today london time. apple and china mobile are close deal.ing a they will offer iphones on its network. we have a correspondent standing by in hong kong. why does the 4g make -- will not make such a difference? -- make said -- well make such a difference? there are millions of potential customers. that is a huge number of customers. there are many wireless subscribers over all. in the game.ate we know in places like the u.s., 4g has been rolled out. it is big news today for china mobile. received this network license, along with smaller rivals. mobile shares have been up in the hong kong session. it has been under a bit of pressure to date. there is a trend lower for some markets. china mobile will offer iphones as early as december 18 when it is set to unveil its branding for the 4g network. spokesman said talks for the apple iphone deal is ongoing. we will follow that angle of the story. this is big news. mobile c

american brands opening their doors and london. the latest is how where company westbound -- homeware come in the west elm. caroline hyde went to met the ceo. u.k. the talk of the economy turning around. >> yes, we had j.crew coming as well. i talked to the chief executive of williams sonoma. is it the property boom and everyone wants to redecorate this is aes? she said long-term plan. >> we have international expansion plan. around the world, our ram -- our brands have unique at tributes. in locations like london, people are interested in having other options to decorate their homes and entertaining guests. we found this great location. it was the right time for us to come. we watched in australia with four of our brands, pottery barn, pottery barn kids, williams sonoma, and west elm. that was our first foray into company-owned international business. >> what sets west elm apart? what makes you different? >> we have a great global ascetic. we offerban market, smaller size furniture, which is conducive to city living. >> you have b

>> in central london -- that is a lot of the properties in central london, bought by ateign orders -- foreigners the moment. right now if you are a non- resident you can buy a second home in london and sell it and not pay capital gains on that. in 2013, that will change. you will have to pay between 18% and 28%, like the u.k. resident to sell their second properties. in most cases it would be 28% because we are talking about higher income earners. so the exemption is going away. the argument is that would be less of an incentive for farmers to come in and buy property in the central london market. -- for foreigners to come in and buy property. you can avoid the tax by not selling property, by living in it or renting it out. article hedges -- >> you kind of wonder whether or not it will be the price worth paying. >> the treasury estimates over the course of a couple of years they could make 100 million pounds in tax savings off of this. that is not a huge amount of money when you talk about the size of the market. >> ryan chilcote, the latest details of the london property market. fran

this beautiful beach city is also brazil's murder capital. >> london now. police are now saying that no criminal act was involved when a large section of ceiling plaster fell down in the middle of the performance at the historic apollo theater. 112 years old. investigators are eager to find out though why if happened and whether other old buildings in that theater district perhaps prone to a similar sort of accident. >> at least 79 people were hurt in the falling debris, 7 being treated for serious injuries. incredibly no one was killed. the theater opened in 1901, it was named for the greek god of arts. the apollo. the theater same name opened in new york city's harlem more than a dozen years later. erin mclaughlin says it shocked victims their faces smeared with grime, they described what happened. >> it was certainly not your typical thursday night rat london's historic apollo theater. an audience of over 700 people, families and children had assembled for a performance of "the curious incident of the dog in the nighttime," and then. >> a loud bang. i do

london has a very lively scene. -- it is stillt a london centric model? >> my decision is based in london. manchester, nottingham, it is actually a bit of an international movement. for me, the heart of it is in east london. this is where my business grew up. >> in terms of 2013, you have had a great year. you have one some amazing awards. was 2013 a pivotal year? being quite afrom small team with a very big vision, very big mission, to take anyone and make them feel hunted and about technology in a single day whether it be in schools, the ceos of companies, that was a really big dream. in the last year, we have managed to teach thousands of people from the ceos of ftse 100 companies down to people just starting up their own businesses to teachers in schools. we have launched in new york. we have been to shanghai, dubai, singapore. , we are on the way to something. you have beenat doing and what jim o'neill is sortng about, is there a of structural issue that is going to limit the growth that he is referring to? this lack of education when it comes to com

pride and prejudice london rejects an e.u. offer to fund food banks despite hundreds of thousands of people in britain going hungry our top stories. this is international and breaking news this hour president vladimir putin says he will sign a motion to pardon the jailed russian tycoon because of cortical ski the businessman who spent more than ten years behind bars for embezzlement has reportedly already filed a petition to be pardoned. as more. well the president was hosting a media conference which lasted over four hours but the biggest news came after it finished he was surrounded by journalists and someone asked the question about me and suddenly the president said that the former had asked him to be released and he says the man is already spent over ten years behind bars and he is ready to sign all the papers to wed in three. who the kosky recently wrote a petition asking me to pardon him he spent more than ten years in prison this is a serious punishment he cites humanitarian reasons saying his mother is sick and i beli

so for now the government be here in force in london so it wasn't easy but somehow managed to stay calm and cool through certain parts of that hearing didn't. well was the hearing it was it was lively at times it got quite heavy handed i think it's fair to say as he said the editor of the guardian newspaper managing to answer all these questions but some of the questions i think will of raised some eyebrows certainly we heard at one point and then p. i asked alan rusbridger do you love your country now that wasn't the only question that is going to be raising eyebrows we also heard one m.p. seemingly compare some of the guardian disclosures of the edward snowden files to the leaking of secrets to the nazis let's take a listen to that. if you bought the book though during world war two would you want from some bit of dancing for a sheet of the knots. now the question session all the more interesting if you compare it to what sixth place at the beginning of last month and there we saw the heads of the u.k. intelligence agencies and my five m i six g c h q and they'd come before another pa

it just came down. >> other london theaters became triage centers for the walking wounded. some were taken to a nearby hospital with serious injuries. >> we thought it was part of the play honestly, so that was our reaction, wasn't it? >> bang. everything. de debris, dust, everything. >> it was like foggy. you couldn't see anything. you didn't know what was going on. >> police actually commandeered three london buses take some of the injured to the hospital. they say the building is secure enough for the investigation to begin on this 112-year-old building. of course, the concern is this isn't the only old theater in town. anne-marie? >> charlie d'agata in town. thank you, charlie. >>> potentially dangerous weather will begin to spread across a large part of the country today. depending where you live it will include strong rain, torrential flooding and ice. >> messy days of weather ahead. there's hail in southern california and some pretty heavy snowfall in higher elevations. this is the same energy that's going to crash across the country. it geengs bring the whole kitche

london time. later on bloomberg television, we will be joined by heston blumenthal. >> they were talking about the effectiveness of forward guidance. we have more on what he has been saying. >> he has been. good morning to you both. the issues that he faces with the bank of england very similar to what the u.s. faces. one is the recovery taking hold? two, when is it time to withdraw stimulus. >> historic relationships for monetary policy -- the relationship between monetary policy and a person is purchasing -- purchasing manager would suggest that rates would have increased already. would have been what we had tried it to guard against which would have been a premature withdrawal of monetary stimulus. >> a premature withdrawal of stimulus. when you think about it, that is what forward guidances for. it is to communicate that is not going to happen. the word for almost every goingl banker -- when you to take away the punch bowl a little bit too early? on the other side, if you keep you keep it-- if

york he is a professor at the city college of new york and a senior fellow at the atlantic council in london we have jeremy keenan he is the author of the upcoming book dying for change as well as a professor oriel research associate at the school of oriental and african studies at the university of london and in seattle we cross to illinois mercer she is a paleo libertarian writer and journalist all right folks cross talk rules in effect that means you can jump in anytime you want and if i go to you first in seattle you got up early as for this program i've been all watching a lot of the coverage of the death and the funeral and the coverage of the passage of this really truly great man and it's basically two words he's an inspiration and he was a figure of reconciliation is that enough for you. no i'm also the author of a book called into the cannibals past lessons for america from post apartheid south africa and that is definitely not a hey geographic account of many nelson mandela i will leave it to your other guests to provide the oh yes and the geographic. biographical details of a ver

time in london is we have the market analysts. the house price analysts -- estimates are here. >> not quite as good. still a nice gain. if you own one. 10.6% rise in london last year. a slowdown. in monetary terms, still a substantial gain. >> it is more demand than supply. >> it is. 50,000 andis around a projected population growth. obviously stretched, with affordability. people are finding ways to raise the money. thatere is a statistic creates a more complicated story, i imagine. >> absolutely. very specific. hotspots of supply and demand. there is a transport desirability and an undercurrent of, where is the next place. there is also a searching for value. that is in the central london areas. , you can afford it. --the disconnect and weepends on supply are seeing that in brackets. it has increased more supplies and development is doing speculative conversions and good quality conversions. increasede supply has without much demand. >> we talked a little bit about the non-resident tax. can you talk about the areas of the market

. >>> we are following breaking news out of london. scott macfarlane is at the live desk with details. >>> police in london reporting a number of casualties where the roof collapsed. a live picture up on your screen now. dozens of police and rescuers are there on the scene. i'm waiting for updates about what they are seeing tennessee the site. people reported dead at the apollo theatre. we are going keep an eye on this and bring you the latest in a few moments. back to you. > >> thank you. >>> a driving instructor is accused of sexual charges. he made inappropriate comments and touched an 18-year-old female during two driving lessons. in the investigation, detectives learned of a juvenile victim. police are looking for more victims. he is out of jail right now, on bail, ordered not to have unsuper vised contact with females under 21. >>> a long-time professor was killed yesterday as she was walking her dog. it happened at 7th and g streets outside the town square tower apartments. it's where the 90-year-old lived. another resident was

have you there in london. now at the brink of civil war us president from obama wants that south sudan is any danger is turning point. silence is on the rise in the country hundreds of people have reportedly died in fighting that sped from the capital juba since last weekend. the presence of a kitty kisses his ex deputy me crash of a failed coup. well for his part the former vice president says kia has failed to unify the people and must leave power but that. kidding when they can get it. and there the weekend that we do that the kind that could be a kid. the next guy. will it a try. nick. we did admit that it bought. you can. but that good either the two. the key that recall the country that's us. and speaking now on thursday three indian peacekeepers were killed and an attack on a un base in the country an estimated thirty four thousand people have taken a refuge from the violence. united nations compound of prospect heights at letting go isn't about me as though it sometimes hitting the country. wishing you

york he is a professor at the city college of new york and a senior fellow at the atlantic council in london we have jeremy keenan he is the author of the upcoming book dying for change as well as a professor a real research associate at the school of oriental and african studies at the university of london and in seattle we cross to illinois mercer she is a paleo libertarian writer and journalist all right folks cross talk rules in effect that means you can jump in anytime you want and if i go to you first in seattle you got up early as for this program i mean all watching a lot of the coverage of the death and the funeral and the coverage of the passage of this really truly great man and it's basically two words he's an inspiration and he was a figure of reconciliation is that enough for you. no i'm also the author of a book called into the cannibals past lessons for america from post apartheid south africa and that is definitely not a hate geographic account of many nelson mandela i will leave it to your other guests to provide the odes and the graphic. biographical details of a very geni

of a new film of nelson mandela's life a long walks of freedom and that was attended terror in london by nelson mandela's daughter he learned of his death halfway through. so attended by the duke and duchess of cambridge say that started the royal tribute to you like prince william as he was leaving the film called mondello an extraordinary and inspiring man and the queen also paid a somewhat personal tribute to mandela saying that she remembered their meetings with great warmth and then of course political tributes came in from europe and from all over the world and here in this country they were led of course by david cameron who called mandela a towering figure a legend in life and now in death a true global hero and said that a great light has gone out in the world and then ordered for the flag to be flown at half mast downing street as well know a lot of other official buildings across london but this is all a massive turnaround if we look just at david cameron for example in one thousand eight hundred five he was one of the leading members of an organization called the federatio

york he is a professor at the city college of new york and a senior fellow at the atlantic council in london we have jeremy keenan he is the author of the upcoming book dying for change as well as a professor oriel research associate at the school of oriental and african studies at the university of london and in seattle we cross to illinois mercer she is a paleo libertarian writer and journalist all right folks cross talk rules in effect that means you can jump in anytime you want to lead if i go to you first in seattle you got up early as for this program i've been watching a lot of the coverage of the death and the funeral and the coverage of this passage of this really truly great man and it's basically two words he's an inspiration and he was a figure of reconciliation is that enough for you. no i'm also the author of a book called into the cannibals past lessons for america from post apartheid south africa and that is definitely not a hate geographic account of many nelson mandela i will leave it to your other guests to provide the oas and the geographic. biographical details of a very

and as you say london has had. a shaft tathata access course your stand mentioned some of that was the international reaction to them similar. i think the reaction will be quite similar and of course what we will be worrying about really is our own citizens going to saatchi. and in twenty four g. and we'll be thinking well what can we do to help. and hopefully there will be some sort of dialogue between the u.s. the u.k. and other nations that will direct and all of the human beings to say look what are our best practices in various and what knowledge do we have that the big. one is the problem of lone wharves and low tech terrorists what edward snowden revealed was is that these attempts to you know improve. surveillance and suddenly yes we still need high tech knowledge to tackle such terrorism. international very sadly it's still low tech we need human intelligence we need we need to have public awareness so one of the solutions. we do need to challenge this is that international research in russian affairs for

we can hear sirens, ambulances going through the west end part of london. we understand at least 80 injured, some seriously. the sirens and ambulances are dealing with that. officials told us they have now cleared out, evacuated that theater. but just a few hours ago witnesses were saying it felt like the sky had fallen. it happened just after 8:00 p.m. in a packed house more than 700 people here to see an award winning play, "the curious incident of the dog in the night" when the audience in the top balcony hears cracking sounds, pieces of plaster falling, then chaos. >> a loud bang. i don't think it was an explosion. then the ceiling came down. dust, chandelier, wood and all that stuff landed on five or six rows. >> we thought it was sound effects of the theater. yeah. then we just looked up and the whole ceiling, it was like slow motion, it just kind of came down. >> reporter: the famous apollo theater in the heart of london's west end theater district became a bowl of dust. theater goers describe pandemonium with people running for the exits screaming t

i had seen a bustling london had a tremendous team sees actually won two more men in each. i also attach onto improved in art classes in the tracy and cockpit keeping score it's an antidote to the teens. yes he's gone on in our identities. anna. those of you responding in an unconvincing. a home. i slept in went into effect in that event. that's. we see list of wanted to cheat off of constants in his hands. asked one to stitch on an international treaty she's fine now. support cheesecake and if need be commended this brightness to david cameron and frolicking in football. michael will then visit the troops had found basking on and on its content province on december sixteen the biggest brightest of excellence best of both the of god not tsunami and the british on the east and the british troops adding in a contest on and pulled their heads up high. on the country and providing training for the of god not on the ad police force. the staff has visited to study in the country every christmas since taking office in two cars and dead british combat false sense of duty vocalist o

artsy london. and attempts to boost economic recovery is one of the reasons britain is looking eastwards iceland took a similar route when its economy tanked that's a number of other reasons is why it is now doing much better than other european countries who looked into the financial abyss back in two thousand and eight explains. iceland's government has decided to help out home owners with their mortgage payments mine getting billions into the economy to write down mortgage is linked to inflation which will help out around a third of the population's let's rewind to two thousand and eight because the economy has staged quite a comeback and it did so without bailing out the banks yes there's still a long way to go until the country cheese pre-crisis debility but considering the stock market crashed ninety percent and unemployment surged not fold the economy's in better shape so this is what the government did then so the country let the insolvent non-domestic banks go bankrupt which led to the col

artsy london. a slower than hoped recovery from recession is one of the functions making bricks some of course chinese money and while the u.k. and much of europe trying to bounce back with the help of crippling costs a small nordic country has proven their reason not the way iceland is writing off we have no mortgage debt sportspeople. join my colleague to discuss it. the icelandic government they're going to inject one and a quarter billion u.s. dollars to help people that are really struggling with higher costs of living so what they're going to do is they're going to get this money it's going to be in more good pay downs another half in tax exemptions it's going to help one hundred thousand people which probably doesn't sound a great deal but that's actually a third of the population of iceland some people say that since two thousand and eight iceland has actually come rather a long way it has done very much so we rewind the clock it was pretty much a disaster the first domino to fall in the wh

azzi london. and other towns to boost economic recovery is one of the reasons behind britain's turn eastwards but for a role model in europe iceland is leading the way having successfully got its finances back on track and the latest move announced a major ride down of mortgages ok should be a way of explaining to my colleague why are we so shy about meetings. the icelandic government they're going to inject one and a quarter billion u.s. dollars to help people who are really struggling with higher costs of living so what they're going to do is they're going to get this money it's going to be in more good pay downs another half in tax exemptions it's going to help one hundred thousand people which probably doesn't sound a great deal but that's actually a third of the population of iceland some people say that since two thousand and eight iceland has actually come rather a long way it has done very much so we rewind the clock it was pretty much a disaster the first domino to fall in the whole finan

an upscale apartment in london. his father in nigeria is a official. he was already on a terrorist data base but not on a no fly list. >> these were infidels who were going to blast up people. we want to thank the passengers and the crew that subdue these guys. >> in nigeria security is known to be lax. but in amsterdam where it made a stop, screening is much stricter especially for u.s. bound flights. so how did the suspect explosive device slip through? >> when the standard is we're looking for pouter on the one hand and syringes or small glass octobers on the other it gets very difficult. that's what's so worrisome in this particular -- particular case. >> that's it for this week's second look. i'm julie haener. thank you for watching. sign. then drive. signing, zero down, zero deposit, and zero first month's payment on any new 2014 volkswagen. hurry, this offer ends january 2nd. visit vwdealer.com today so then what happened? well, she didn't show up to school the next day, and i heard that she slept over at his dorm. no way. mm-hmm. seriously, are

during the london whale. so there needs to be more people to the extent that that's where the action is but presumably this will be computerized they can they can just send it right down here to washington d.c. or wherever the controller's office is and they can look carefully again once you are measured and you're managed you're going to have to come up with a little bit better excuse than hey it was just portfolio hedging and but what exactly does this mean for the banks in terms of you know desk rather than. less specific reporting it's kind of like saying tell me what your paycheck is every hour versus what your paycheck is every month or every week dispenses in a little bit less frequently. that was barton our financial policy advocate at public citizen. coming up. how can you get money for nothing and sounds too good to be true and put a title of jim versus new film i'll talk with the director about the big banks and their inner workings of the federal reserve also next time we go to the mall with her s

during the london whale. so there needs to be more people to the extent that that's where the action is but presumably this will be computerized they can they can to send it right down here to washington d.c. or wherever the controller's office is and they can look carefully again once you are measured and you're managed you're going to have to come up with a little bit better excuse than hey it was just portfolio hedging and but what exactly does this mean for the banks in terms of you know desk rather than trade by trade. means less specific reporting it's kind of like saying tell me what your paycheck is every hour versus what your paycheck is every month or every week dispenses in a little bit less frequently. that was barton our financial policy advocate at public citizen. coming up. how can you get money for nothing it sounds too good to be true and it's the title of jim versus new film i'll talk with the director about the big banks and their inner workings with the federal reserve also next time we go

news broke of montana staff that case began to appear defective his statue in parliament square in london british prime minister david cameron to eat it. the two great lights has gone out to the wells. before addressing the press. nelson mandela was not just to hear it will be on top. but here it will appeal to families across britain will mourn with his family. and everyone in south africa. japan's prime minister shinzo abe's added his voice to the chorus attributes of local people want to play with me. he fought for the abolition of apartheid with a strong will one nation building. he made a major achievement to focus on the reconciliation of the people. he was a great b day. with the hospital. you are like addison in venice when the president on the matilda announced an official mourning period for three days. honor the memory of what he called this giant of africa. and of people into the wild. nelson mandela and the winner of a lemon water to condemn the top sneaker it affordable. in this form of the month of the head side to the fight scenes and check it out at him at the beginning o

i've been eating far too many of them in london. the reason is the demand for these types of quality chocolates with plenty of cocoas in them is escalating in western europe. demand to this surge in asia. we're seeing an imbalance in supply when it comes to cocoa. that is forcing the price up. we have seen a 25% surge in cocoa so far this year and it is expected to rise 15% next year. there is a key concern there. in fact, this stat amazed me. 70,000 tons. the same weight as 10,000 elephants is what is going to be lacking in supply for just one year. that is going to continue for six years. that sort of level of imbalance and supply and demand. that is what is driving up the price of cocoa at the moment because of our taste for these high-end chocolates that we're having in london. >> what is preventing an increase in cocoa supply? >> well, i think at the moment, we largely get the cocoa supply from the ivory coast. from ghana. that makes up about 70% of overallco ko supply. they not only have a lack in rain but also have a lack of

we begin tonight in london. a ceiling collapsed on to a packed house of theater goaters at central london appall low theater when an actor yelled watch out and people thought it was part of the play. in the chaos more than 70 people were injured. a number of them, quite seriously, investigators still don't know why this happened. we know that more than 700 people were there. minutes after this happened, cnn spoke with people who were inside. >> it was a loud bang. the ceiling came down. a lot of dust, chandelier and wood and all that sort of stuff landed on five or six rows. a couple of people quite badly hurt. >> so watch out. >> and one of the actors said watch out. we thought it was part of the play initially. so that was our reaction. >> there was dust and debris and everything. >> nick robertson is on the scene tonight. what is impress sieve london's emergency workers, they responded within three minutes. everyone was evacuated quickly. even those that had been trapped. what did you say when you arrived? >>

like many buildings in london, the building is more than 100 years old. it is a theater which attracts so many visitors to this city. so perhaps not surprisingly the authorities are saying this was very much a one off and that theaters in this city are perfectly safe by and large. the west end is proud of its history, but after this very unexpected accident, theaters need to reassure people that the buildings are not only full of character, but also well maintained. >>> a german company says that the freed prison from russia has arrived in germany. he was release after a surprise amnesty from president putin. >>> in italy authorities say farmland throughout the city of naples has been contaminated by toxic waste dumped there. the prisoning triggered widespread anger with tens of thousands marching through the streets of naples. they were demanding to know for how long they had been eating tainted produce in the area. >>> spain's government has approved an abortion law which would allow abortions only in certain circumstances. opposition parties and women'

this is one of london's most famous stores sales are up more than 15% on last year. i think partly due to the success of london, and a lot of that comes from the olympics and other attractions we have seen. but also, i think we recognize having some of the top designer brands some of the top retailers that certainly atrack a lot of customers worldwide. >> it is a combination of those top brands and tax breaks that are attracting people from all over the world. >> london has the highest tax refund. almost 30%. compared to other countries. so they are a lot cheaper here than they say in indonesia. >> you show the quality. the january sales start so early now online, that it gives online traders almost an unfair advantage. i think the earlier january sale we saw online started on november the 15th. this is an industry that can't afford to be fussy whether it's online or in stores it is the selling that counts. there are around 3 million people employed and online stores and on shops. it is also a good indicator of consumer confidence that people are spending money in sh

he denies suggestions that it's up to biased game will lead to london a london price bubble your thoughts wow let's see london price bubble i think that it's totally reasonable that the candy brothers are trying to sell a five bedroom flat in one hyde park for seventy million pounds what do you think well we want we drove by that flat just a few weeks ago and there at the top end there is next incredible interest from china let me tell you just came back from asia china's printing two hundred billion a month contrast that with the federal reserve bank in america pumping eighty five billion a month so is china it is a soft way for china to take over the world the central bank pumps eighty billion two hundred billion dollars a month and the chinese just buy all these at strategic assets around the world isn't as of this china taking over the world is in fact money well i think what's happening is a good point you're making is that this is a hyperinflation in selected asset classes hyperinflation meaning that money's becoming relatively worthless they had one flat in eaton square that went o

he denies suggestions that it's up to biased game will lead to london a london price bubble your thoughts wow let's see london price bubble i think that it's totally reasonable that the candy brothers are trying to sell a five bedroom flat in one hyde park for seventy million pounds what do you think well we want we drove by that just a few weeks ago and there at the top end there is the next incredible interest from china let me tell you just came back from asia china's printing two hundred billion a month contrast that with the federal reserve bank in america pumping eighty five billion a month so is china is this a soft way for china to take over the world the central bank pumps eighty billion billion dollars a month and the chinese just buy all these at strategic assets around the world isn't as of this china taking over the world is in fact money well i think what's happening is a good point you're making is that this is a hyperinflation in selected asset classes hyperinflation meaning that money's becoming relatively worthless they had one flat in eaton square that went on the marke

during the london whale. so there needs to be more people to the extent that that's where the action is but presumably this will be computerized they can they can to send it right down here to washington d.c. or wherever the controller's office is and they can look carefully again once you are measured and your manager you're going to have to come up with a little bit better excuse than hey it was just portfolio hedging and but what exactly does this mean for the banks in terms of you know desk rather than trade by trade. means less specific reporting it's kind of like saying tell me what your paycheck is every hour versus what your paycheck is every month or every week your stance is in a little bit less frequently. that was barton our financial policy advocate at public citizen. coming up. how can you get money for nothing and sounds too good to be true and it's the title of jim versus new film i'll talk with the director about the big banks and their inner workings with the federal reserve also next time w

we're live from london's oxford street. >> welcome to countdown. >> it is 6:00 in london this friday morning. bloomberg reporters are standing by across the world. david tweed is following the ratings downgrade in the eu. we're watching the reaction in tokyo. >> lacing up his trainer is as he digs into sneaker sales at nike. consumer sentiment as retailers cut prices in the middle of their busiest season. caroline hyde is live from oxford street. ourou do not want to miss conversation about the top film picks of the year. we have had some breaking news. the european union has lost its aaa rating. is our europe editor, david tweed, in berlin. how significant is this move? >> the timing could not be more impeccable. you have all of the european leaders hold up in london -- brussels this morning. it is not going to be hugely significant in terms of markets. we have seen many european union countries losing their aaa ratings. last, best only six left.ies - it is all to do with the negotiations over the eu budget. last year, there were two meetings to get the eu budget through with lots o

and its third tier balcony is the steepest in london. >>> time now 4:41. a bay area school district will pay millions to settle a lawsuit brought by the family of a special needs student. the disturbing allegations against his teacher. >> growing controversy over comments from the star of the hit show duck dynasty. now there seems to be a standoff between the cast and the network. ,, ,,,, i want you to know stuff i want you to be kind. i want you to be smart. super smart. i want one thing in a doctor. i want you to be handsome. i want you to be awesome. i don't want you to look at the chart before you say hi...david. i want you to return my emails. i want you to keep me doing this for another sixty years. at kaiser permanente, we want you to choose the doctor that's right for you. find your perfect match at kp.org and thrive. the obama administration ga millions of americans who a supposed to lose their heal insurance another break. >>> the obama administration gave millions of americans who were supposed to lose their health insurance coverage another bre

has it been a good year for london's restaurants? >> very good year. they keep going in the right direction. it has been a fantastic year, lots of new openings. >> is it stuff coming over from the states? is it the revival of british? >> it is mainly still casual dining. everybody is opening brasseries. i think the trend will the american restaurants in the coming year. we have balthazar that came out a year ago. before that, wolfgang puck. i think there will be more. fatty crab. >> what is it called? fatty crab. >> where is guy taking me? fatty crab sounds amazing. what is the hot new thing for 2014? first quarter? >> where should i be making my first reservation? a very successful british chef in london is making the rounds. april 2 it is scheduled to open. it might be the biggest opening of the first few months of the year. >> amazing. not cheap. i will give you a break. >> thanks, fran. [laughter] >> it is more top us, right? >> more top of style. -- tapas style. pulpetto.ening it is reasonably priced italian food which i think you should like. >>

that's it from london and europe. let's go back to dough happen. >> a special panel investigating the n.s.a. has recommended it should have powers restrict. this tools allegations the n.s.a. collected records of billions of phone calls including those of fortune politicians. we report. >> the head of many of america's big tech companies were at the white house on tuesday, they want urgent reform of the n.s.a. and its data gathering operation. it looks like they may get their wish and a lot quicker than expected. a surveillance lee view board reported was due to be published next year but pushed out by the white house. it makes more than 40 recommendations, the n.s.a. will no longer keep a a foreign database. it will be held by the phone companies or third party. they can no longer ask for companies to build a back door in their software. the n.s.a. should not spy on non-u.s. citizens outside of the u.s. because of religion or political views. >> the scope of the surveillance program was revealed by edward snowden, the