is defending russia and greater russia. do you think he would have more support? >> definitely. the support he gets nowadays is smaller but russia may like it in a certain way. the additional problem for russia is that they used to be a superpower as ussr. they lost that position and now only superpower is the u.s.a. but i also refer to weapons, to the economy, to the moral and social and economic issues as well. they are not the leaders. that is why it is hard for russia to be as important as they used to be. so they need successes. they need to show their power by threatening. they also have to understand the world. that it is not boorishness, not tanks. but intellect and wisdom are the elements of the contemporary world. >> lech walesa added that he believed russian president vladimir putin underestimated the west's willingness to defend ukraine. now, as putin figures out how to untangle himself from the mess he created. okay, up next, forgot politics. oil makes strange bed fellows. i'll take you to the far north where u

so now, what about opec and russia? russia will not join opec. opec has invited russia. russia politely declined. russia, when convenient and beneficial to russia will cooperate with opec. what does this all mean? in the last 35 years, opec is cut oil production 11 times during my lifetime and on average reader says reduction by about 1.25 million barrels per reduction. the last time opec cut production was in 2009. opec invited russia to the meetings. russia went to the meetings. opec shared with russia what they wanted to do when opec decided they were going to cut production, making the assumption that russia agreed with opec to cut production. but russia do? the increase production, profited the situation and expanded the market share. all pet lost russia one. today on november 27th, opec is meeting again and it's not just russia opec is at war with. it's also the ratio sector. the sector is now become a swing producer of the international arena. now will discuss without his imports in any day. what about the putin edition of gas? when he came to oil, it is a dream c

what does an economically weak russia do in the near term to political russia? >> you have to put everything in the context of sanctions. sanctions are nothing more than war by other means. we're engaged in a war and wars are unpredictable and dangerous. as far as sanctions are concerned they never achieve their stated objectives. and many costs are very unintended. south stream is a perfect example. they're going to lose billions of dollars on this, that's why they're upset about this, and that's why merkel has entered the fray. the germans and the e.u. have decided that the balkans needed to be bolstered a little bit because russia does have a considerable influence culturally and so forth with regard to the balkans. all of these things start getting mixed up, and the long and the short of it, ray, to paraphrase the late center moynahan, sanctions are for losers. >> go ahead? >> i really want to jump in on south stream, i'm turning it into an issue, but south stream by passes ukraine. when you're thinking about it in an economic standpoint, you're spending mon

russia led up. the same level it hit and bounced off of back in the lows of 2009, and a level that we had to hold around here was the trend line, which it broke. what is it telling you? first of all, oil typically leads russia, except for the moments in history where russia has actually led oil down. that was 2008. remember when russia invaded georgia? this was before emerging markets really fell out of bed. but russia bottomed first. ultimately, russia is leading oil. so, my view here is if you look, russia is starting to rally back here. when oil started to stabilize, russia started to rally. russia doesn't need oil to go to 110. it needs oil to find a base. the russian budget is based on ruble revenues. these guys are right now only running a budget deficit about 1.5%. what it means is first of all, oil's choppiness is taking a lot of people down. russia's got its own unique set of problems. but i do think russia can rally. i don't think you're going to see that overnight because i don't think th

what does this do to oil producing countries like russia? >> for russia there's two problems. the one is the one you mentioned, ali. the second is that russia is facing a long term decline in its conventional fields. without access to the arctic, which is now blocked because of sanctions, russia is looking at less money now and later. >> every time i talk about this topic, i get tweets from people who say, i'm just looking for excuses. it's unmitigated good news when oil falls, but big drops in the price of oil have caused a lot of economic dislocation around the world, and at some point it will cause that in the united states. >> yeah, we're still a net importer of petroleum, so as a result we're generally benefiting on a brood basis. but it is impossible to ignore the growing impact of oil and gas production. so question now is a little different than the one we asked ten years ago, now we ask at what oil price, in terms of what low oil price, does production stop? and we're probably starting to see some of those effects right now in the next month. >> help me explain this t

outside of russia creates a situation in russia where the national chief fists are on th-- chauvinism is on the rise. putin attempt to take over their agenda for himself by means of external aggression. to miry great i think we have stepped on a path of no return. as a result of taking this path the regime in russia will be destroyed. what sorts of this will bring to russia and the whole world is something that we have yet to see. >> you are a dissident, but you're an ex-olagark, which is a hated class in russia. can you be a legitimate engager, if you will? >> i'm not a dissident. i'm certainly not an ow olagark any more. dissidents serve an idea and find the notion of compromise impossible. i believe that compromise is also an idea. i think i do have some opportunities. they have their limits, of course. >> you've been asked about your past role as an olagark, and you say that mistakes have been made and your challenges have changed but do you think you need to publicly atone for past actions to gain that legitimacy with reform-minded people in russia? >> i have told my fellow citiz

russia 1. while it's quite understandable as far as crimea is concerned, the question is how much money will we have to put into development after the difficult ukrainian past? >> so let me just come back in here for a moment. i think the president has now addressed the economy and has talked extensively about ukraine. i think there are some key talking points that are worth picking up on. again, a restatement, i think, president putin's position that nato expansion is not acceptable as far as moscow is concerned. he talked about nato being responsible for building a new berlin wall. that has remained a consistent position as far as moscow is concerned. on ukraine more generally, he we obviously had some quite impassioned questions asking about the involvement of russian reservists in ukraine itself. the president's point of view, again, i think robust in his defense of why he feels russia needs to be involved and his concern about the fallout following what he described as the coup d'etat, whi

but by most accounts this is russia. a state-owned russia company has mined here since the 1930s. russian subsidies still fuel the settlement coffers. even the miners are paid in rubles with salaries as much as four times the going rate in russia. >> it's one of the main reasons why people come here. >> reporter: there about 350 coal miners who work in this coal mine alone. we're down a mine shaft in a russia mine. and the workers are broth russian and ukrainian, and they all seem to get along. this coal mine has been producing less coal over the years, but some say it is more of strategic value. with the potential of $4 billion worth of untapped resources, many here think russia is holding on to the area to keep its options open even if falling oil prices and western sanctions are making new exploration tougher. >> the policy of russia the being here is very important for them. >> reporter: the number of arctic shippers have also soared in recent years. what russia needs now are arctic ports and lines of communication, it's a big reason why moscow unveiled an ambitious plan to bu

in russia. >> hollande the possibility of rolling back sages in russia. russia.nction in >> good morning. you are watching "the pulse." air france has cut its 2014 target. let's bring in kerry. why has it been -- this is the third profit warning? >> things just aren't getting better. if you add up all the downgrades, it's almost 1 billion euros. so not looking good. they raised 4 points yesterday two of which we know which is the strike, they also said that they're seeing some softness on long haul which is the reason they did the first downgrade. they also said there's a pension cost that they're not going to get. then fuel. fuel is dropping but we haven't seen a benefit from it yet. so that is also not coming through for them. >> management telling us why 2015 is going to be a better year? >> they're being a bit cautious. when it comes to -- they're going to be pushing back some plane deliveries. so 777s. their 2016 deliveries. it's interesting to connect that up with the fuel issues. so fuel,

russia will have an effect. just in general, the slowing in germany, japan, china. >> the fed took enormous action in response to russian prices. it is around? -- message of the argument domestically, the argument with it.-- would be, hold how the fed balances the domestic argument versus the international argument. timeshave said 1990 83 since the cameras turned on -- the three times since cameras turned on. are we looking at that? dothe real question is, what the russians do to regain control? they are losing control. says -- this goes back to m.i.t. -- the pendulum swings and it is swinging right now and you have to take financial losses sponsored by the government. putin has to come in and begin to bailout the financial system in order to stabilize. >> hold on. think abouting to this as if russia is a normal country. if it were brazil, you could say things like that. a countryds to be that does not invade other countries and the state does not own the major industries. >> correction, it is not a major econom

i'm joined now by bbc russia. i just want to say, a line has dropped from reuters here, an eu official saying the european union is adopting tighter investment options on crimea, so the pressure is certainly not off. i suppose given some of the rhetoric we've heard in the last two, two and a half hours, it's a mutual feeling. there's no give at the moment. >> i noticed that mr. putin looked very confident at that press conference and he insisted that crimea was not the problem. the problem was that russia had existential fight for its sovereignty and national interests, and the sanctions are part of that fight. >> he also said, didn't he, that there was a need for restructuring if russia. had been for 20 years. the government had failed to do so so far, if indeed restructuring was possible. but what might he be talking about in terms of restructuring? >> well, partly, he is putting blame. many specialists believe the abrupt increase in the basic rate in russia was really a mistake. he thinks that it wasn't a mista

is this about russia? is there something snels. >> no. largely about russia. and we'll see how much this reflects back on 1998 when we saw a real crisis. steve liesman was a reporter at the time and won a pulitzer for the coverage of it. this is not as serious as 1998 yet. there's not a threat of default. >> carole? >> not ho-ho-horrible but uncertainty is the word of the day if we had one. not only do we have russia and the oil situation, we have the fmoc going on. right now, having their meeting, notes coming out tomorrow. and i think that there are these push and pull kinds of issues coming out where on one hand that is pushing the market higher up through midday and then the people on the other side saying, it's a little bit tenuous so i think we are going to continue to see the volatility. certainly i think the russian issue not just in russia but what it's going to do across europe in particular. >> we have heard a lot of different takes notice last hour and people say it's a great time to start buying some of the beaten down names. we heard from jack bo

it happened because russia's ambassador to paris receives a telegram from russia's foreign minister, who had learned earlier that evening that austria-hungary had begun shelling belgrade. he then got the czar to sign the order for general mobilization on wednesday july 29th, he then sent off a telegram to paris saying in rather elliptical language due to germany's desire that we cease mobilizing we must now regard war as imminent and that is why on the same night that he was panicking and trying to rescind the blank check france and russia resolved on war. could it have been averted is the question? obviously the chancellor and kaiser would have had to have been more forthright sooner on. probably they should have called the military to account about this idiotic plan to invade france by way of belgium which was potentially a cassis belly for the british. i think that's quite possibly true. still it is interesting, that the timing mattered greatly. it was not all written as lawrence would have put in lawrence of arabia. it was not necessarily in the cards. even to the last minute the

but by most accounts this is russia. a state-owned russia company has mined here since the 1930s. russian subsidies still fuel the settlement coffers. even the miners are paid in rubles with salaries as much as four times the going rate in russia. >> it's one of the main reasons why people come here. >> reporter: there about 350 coal miners who work in this coal mine alone. we're down a mine shaft in a russia mine. and the workers are broth russian and ukrainian, and they all seem to get along. this coal mine has been producing less coal over the years, but some say it is more of strategic value. with the potential of $4 billion worth of untapped resources, many here think russia is holding on to the area to keep its options open, even if falling oil prices and western sanctions are making new exploration tougher. >> the policy of russia, the being here is very important for them. >> reporter: the number of arctic shippers have also soared in recent years. what russia needs now are arctic ports and lines of communication, it's a big reason why moscow unveiled an ambitious plan to

i think that's the way out for russia. certainly the most strags forward way out for russia. but it doesn't mean we have the financial crisis that ends in default for russia. could be mr. putin to let the currency fall further and print more money at home to pay wages, allows a lot of inflation to creep up, even to explode. and let the problem and the pain be felt by the russian people worst while he consolidates his military gains into political gains in the eastern ukraine and then once he has those regions, he can be more open minded about negotiating or perhaps even his oligarch friends to remove him. >> putin is nothing, if not unpredictable. there is a weaker russian economy, does it mean more dangerous or potentially a sooefrl -- severely crippled? >> i think a weaker russian economy first ha pain of the russian econ the russian people which is where the pain is mainly going to be felt. the pain has to be unsupportable for them before his hand is forced or the pain has to become unsupportive for the people in power. the oligarch types. once that's in reach, he's in dan

what happened to that russia? what happened to the russia that was supposed to be shown to the woled during the olympics, what happened to the russia that believed in its great history and prepared to stand along side of all world leaders to make a better place? the taking over, the dominance, e literal invasion of crimea was intolerable and unacceptable action by a nation that calls itself standing civilized with other nations. and what many of us viewed around the world as we watched bodies being unattended and thugs, not allowing persons to come and see to those bodies. how long they languished in those fields. and so i think it is important to ask the question of mr. putin, what has happened to the russia we have known. i would say that this resolution condemns the action of the government and the leadership of the government and not the russian people. and i look forward to legislation on how we interact with the russian people and provide the freedom of press and freedom of speech and the opportunities for t

interested in russia, at $60.as oil is is priced likeil that, they are not really interested in russia. when the ruble was hitting 80 rubles to the dollar, it was interesting. click on the sidelines of the eu summit today in brussels, the -- the french president francois hollande told supporters -- reporters that if russia was to give back ukraine, they could see some concessions. how were those comments received by other eu leaders? >> not very well. while countries like germany maintain good relations with russia, she thinks -- chancellor she needsd she thinks to see if behavior change in ukraine. after a group of sailors left france without their worship, they had intended to buy two warships from the french, but in the last couple of months and under huge pressure, president friends while aunt agreed not to sell to the russians. a lot of people -- francois hollande agreed not to sell to the russian. i think it is the first sign of ft.ig ri sanctions are in place until at least july. if there is not a big push for sanctions beyond july, they could be removed. >> president putin also

it's the leadership in russia. it's extremely regrettable to us that the russian people are now paying the price in their pocketbooks. we want to go back to a place where we can work together, but it's russia's choice. >> it's been extremely useful, i think, for you to have the ability to dispel all sorts of things or misinformation and clarify things. so we're five minutes over. would you like to take another five minutes to answer questions or shall we stop? >> i think i better go back to work, leon. great to be with you all. >> thank you so much. [applause] >> monday night on "the communicators," amy mitchell on political polarization and where people get their news. >> they are still the largest and the out less the has the greatest percentage of the american public using it in terms of social sites. about half are responding, that they got political news from facebook in the last week. that was social media facebook in particular, on par with local television and other tough outlets along with 89% of the popul

russia has. maybe. but it seems the ruble is more important than the baht. although a lot of other currencies followed the baht. >> it's already happening. you have emerging market issues. if i was saying what's really going on in world markets today, it's not just the ruble. >> agreed. >> brazilian riyal. >> that's some anticipation of federal reserve rate hikes along with the eroding economics created by weaker commodity prices. sfl it's raining on our global tax cut for oil prices. >> he's always been very optimistic about things. low cost energy and firm for american businesses is helpful. economic impact on countries, not especially friendly to the united states. also positive in my opinion. >> but a run on a currency and an asian type baht crisis is not helpful. >> if it spreads to that. >> for more on energy prices, we're joined by pavel mulkinov. he is at raymond james. and on the phone steven schork, editor of the schork report. pavel, i'll start with you. you've got an interesting take

from russia. from greece, i think contagion risk will be minor because greek held by debt is largely official institutions such as the eu, imf, and national central banks in europe. investor positions in greece are very small. greece is under-owned. the risk is low. >> we will talk about contagion risk after the break. parker from credit suisse stays with us. the effects market is once again about the russian economy. the ruvell has sustained its gains against the dollar this morning after the finance ministry said it is selling foreign exchange. ♪ >> welcome back to "on the move ." i am jonathan ferro. let's get back to the top story. the ruble ending a seven-day route that wiped off nearly 1/5 of insider. the russian finance ministry is selling foreign exchange calling it extremely undervalued. it hit the lowest in history yesterday and the central bank hiked rates to 17%. still what does is bob parker. i'm looking at dollar-ruble. it is coming back a little bit now. the ruble is down by 3%. i

that jeopardizes russia's financial planning. just early on this week they had to revise the predictions saying now it will budget for $80 a barrel. even today, brent crude oil is trading well below that. >> you mentioned the fall of the ruble there. what are the consequences as a country on the whole and maybe more specifically of the people? >> that is right, rosemary, as i said before the fact that the price of oil has fallen so significantly and that russia has not really diverhad had div streams. it is difficult for companies to finance themselves on the international markets when they borrow in dollars and euros. but of course the euro is falling. what i want to hone in on is the effect in the living standards. according to the set of data, we know that they have fallen about 2.8%, exacerbated by the sanctions imposed on russia, and russia has also pushed out western goods, supply its own sanctions. so that pushed up prices as well. so the average person is feeling this in their pocket, too. it is exacerbated with the ruble

in russia. some of them have stopped selling goods. >> apple stopped selling iphones through their online store because they couldn't keep up with the fluctuations in the ruble and didn't want to get caught out. not a huge hit for the company. they sold about 1.5 million iphones in russia last year. worldwide, they sell about 150 million. it does give you a sense of how hard companies are finding it to stay on the right side of the ruble. another example of that is ikea. they are going to raise their prices on thursday. they've got lines of people outside their store looking to purchase their furniture i head of that increase in prices. it is interesting. has a store ofre value ahead of the depreciation of the ruble. across the board, price rises. mcdonald's raising the big mac price by 2.3%. renault raises the price of cars. trying toust probably get out there and get what they can. they know that price hikes are coming. any speculation beginning to build up about what president putin will say

>> this gas comes from russia. and the whole thing, these pipelines, south stream pipeline was not going to add any volumes to what was going in to europe. it was very much a political pipeline. it was all about as i said being in the united states, skirting ukraine, and now the same valu valu volumes, by pass that putin is now discussing if that goes you'll get 15 bcm. it's not a large volume. that will go half the volume going into the south stream. that will go into turkey. i think it's very much by putin you can't fire me, i quit. i really have my doubts this other line is going to be built. >> does turkey matter in this equation at all? do we have worries about the implications that we're thinking of right now? >> i don't think so. turkey wants to be and has been a major energy hub between central asia and the can you kay cuss. and russia and the middle east. turkey would like to be the place through which natural gas from iran, iraq, and so on go through to go through the rest of the world. i don't see that t

to russia. put a put views i at a threat because it if can happen in ukraine it can happen in russia. that's what spooked him bottom the events in november. spooked him in 2003 in georgia, 2004 in ukraine, and so what he does is he says the u.s. state department is responsible for that, because he refuses to believe that indigenous populations on their own could demand democracy, rule of law, end of corruption, and having worked in the state department and no disrespect to my colleagues there, they couldn't organize a parade of c street. [laughter] >> go back there, be careful. >> not after that comment. >> and state department goss great work. i worked there eight years but they don't spawn and foment revolution. >> plainly. >> but it appears that we're viewed as being responsible and behind all these movements around the world. we wake up every day and n putin's mind thinking about russia when in in fact most of the mistakes are we don't think about russia. missile defense, having worked in th

russia. russia is a very important trading partner. >> another exclusive. victoria's secret's chief executive on why she is not too worried about the economy. >> i think we are cautiously optimistic. we are excited about what is going on for holiday. we are very well prepared for what is happening for holiday. all in all i think we will stay optimistic for this holiday season. warm welcome. >> i am manus cranny. am mark barton here outside the houses of parliament in westminster in london. just a few hours time, six and a half, to be exact. george osborne, the chancellor of the exec -- exchequer will deliver his final autumn statement. expect no major pre-election giveaways. he is constrained i deteriorating public finances. he will unlock one billion small of support for business. possibly we will see an overhaul of the stamp duty system here in the u.k. we are to had pronouncements at the nhs and building roads and extending the funding for lending scheme as well. big day for the chancellor

the west fights russia's president vladimir putin with words. >> russia's aggressive actions elsewhere in ukraine as well as the spread of violence and extremism in north africa and the middle east affects security to nato's east and south. >> by the end of 2014 russia's currency had plummeted after months of sanctions and dropping oil prices. a stark difference between how the year began with the sochi olympics. also in 2014 the world's largest democracy, india, elects a new prime minister. western african countries combat the worst outbreak of ebola in history. scotland's vote for independence from the united kingdom falls short, as did protesters of democratic dreams in hong kong. there were moments of sheer terror in canada, and public outrage against for. and two weeks ago president's barack obama and raul astro turn their backs on 30 years . >> joining us for a look back at the rise of the islamic state. the olympics, ukraine's incursion and another israel gaza war and many events that made news around the world. michael kauffman najir hashami, and . michael kauffman, they used t

opec invited russia and russia went to the meetings. opec shared with russia what they wanted to do and opec decided they would cut production making the assumption that russia agreed to cut production. russia increase production profited from the situation and expanded the market share. opec lost in russia one. today on november 27 opec is meeting again and it's not just russia that opec is at war with. it's also the u.s. shale sector. the u.s. shale sector has become a swing producer and international markets so we will discuss why that's important in a bit. what about the putinization of gas? if you thought russia had a name i came to oil it's a dream come true when it comes to natural gas. a lot of people in the west on how the russians 25% of all the conventional natural gas in the world. that's not including the unconventional. so when you look at it as much as the u.s. right now produces 62 billion cubic feet per day, that's using conventional and unconventional. russia is producing from the conventional fields in siberia 65 bill

that speech l followed the announcement that russia is scrapping a pipeline project, instead russia will boost gas supplies to turkey, using current pipelines. now, it's asafe to say that russia's relations with the west are at their lowest point in years because of the action he in ukraine. many of the issues that played out there are the same as what we're seeing today. go back to 2003 that's when georgians electricked mikhail sakasvi rvetiosvili as presiden. in 2006. the south esetians went one step further, two years later, w. bush started lobbying his nato allies, that angered moscow. so when sakashvili unleashed his are, r, russian jets bombed the main city, they only stopped when french mediation ended the conflict. in about 5 days of fighting, 130,000 were displaced from their homes. sure, the united states and nato denounced russia's aggression but didn't do much else. in a prequell to russia's action he in ukraine, there's even talk of russia one day annexing one or both regions. mikhail sakashvili left office, and since then accepted a lecturer universit are positions universi

>> within russia? >> yet, within russia. >> there has to be some. we look at the problems they're facing with energy and a problem with the ruble, there's going to be some shakeout. you're beginning to see policy response from everywhere. certainly, from within russia. there's also talk of the chinese extending an olive branch, giving credit. >> can they do any response short of pulling out of ukraine? it seems like all of the actions are monetary measures, won't get it done. >> that is a pretty good point, but it is interesting that how credit and liquidity that come into the system can stabilize things. i would watch what the chinese do. >> how can they assist mr. putin when there overnight rates are high double digits? what can the chinese due to bring the inner market rate down in the russian system? >> they can extend credit. >> massive swap credit. -- you haveextend to step back and say, who does it and if it to see russia unravel? is certainly wouldn't benefit the chinese. be careful about extrapolating anything out that everything is in a de

the west fights russia's president vladimir putin with words. >> russia's aggressive actions elsewhere in ukraine as well as the spread of violence and extremism in north africa and the middle east affects security to nato's east and south. >> by the end of 2014 russia's currency had plummeted after months of sanctions and dropping oil prices. a stark difference between how the year began with the sochi olympics. also in 2014 the world's largest democracy, india elects a new prime minister. western african countries combat the worst outbreak of ebola in history. scotland's vote for independence from the united kingdom falls short, as did protesters of democratic dreams in hong kong. there were moments of sheer terror in canada, and public outrage against for. and two weeks ago president's barack obama and raul astro turn their backs on 30 years. >> joining us for a look back at the rise of the islamic state. the olympics, ukraine's incursion and another israel gaza war and many events that made news around the world. michael kauffman najir hashami, and. michael kauffman, they used to c

he was until recently russia's most famous prisoner. president putin pardoned him in december after more than ten years of imprisonment. he was an oligarch who became wealthy in the era of russia's post-soviet crony capitalism. when masked men arrested him at gunpoint ino three, he was russia's richest man and the chairman of yukos oil. he and his partner platon lebdev were convicted on charges of tax fraud and embezzlement in two widely publicized trials. they were trapped in a judicial vortex that answers to political not legal considerations, it was said. his story has come to symbolize russia's return to authoritarianism. in his second trial, he told the judge, your honor, much more than our two face are in your hands. here and now the fate of every citizen in our country is being decided. he's lived in self-imposed exile in switzerland since his release. he launched his open russia foundation to challenge putin's grip on power. i am pleased to have mikhail khodorkovsky at this table pore the first time. welcome. >> hello. >> charli

>> this year's state of the nation address comes at a difficult time for russia. the economy is sliding into recession because of falling oil prices and western sanctions against russia, but according to putin, russia is a strong and confident country able to overcome any difficulties. he did not mention oil prices in his speech or how this may affect the budget but he did propose several measures of how to help russian businesses, and one of them was amnesty to russia and another was a freeze on tax rates. he also spoke about the russian ruble, which has lost 40% of its value this year already and he urged the central bank to take tough measures against what he calls financial speculators that influence the ruble. he said the authorities knows who this the -- who these financial speculators are. he said that russia is ready to take on any challenges and win. >> despite the economic problems, putin has not lost any popularity over there. how is this speech likely to be viewed? >> the whole speech felt more like an address to the nation rather than to his governmen

costs $995 in russia. gideon rose of foreign affairs, i say it is a perfect stuffing stuffer -- stocking stuffer. we go in search of america's entrepreneurs. it is so non-foreign affairs, why are you doing clay christiansen 101? >> we are all talking about how to get growth going. we decided to actually explore that. we came away thinking schumpeter was right. much of growth and innovation that we actually see comes from a relatively small slice of the population. how can we help them spread the benefits? the american 1949, economic association speech was a world away from where we are now. how do you drag shumpert or without the cliches in 2015? >> we look at silicon valley, stockholm, london, alibaba and say, you know what, this is what i was talking about. economic done omission, individual people who are creating new products and services and new ways of thinking that push us forward. and we want to know how governments can help enable that and how we can all reap the benefits. as it moveske uber, into

it is a little bit more and russia. all issues that are huge and will squeeze any hope of growth and cause real pain next year. choice.e no other >> ryan chilcote, we had to the break and we will leave you with the stunning chart. the central bank raised rates by increase sincest 1998, in terms of rates. look at that. unchanged on the day. down and thetse dax down 69 points. a little bit of trade as brent trades below $60 a barrel. plenty to discuss. >> welcome back to "on the move. " the pulses coming up. we are joined by guy johnson. busy morning. >> pretty epic. not going well for the central bank in russia. #fail applies to this one. how much lowered to we go on the bridgnk. some of the key breaks are -- are scraping through. are we going to have to see further changes question mark we've seen announcement from rbs today. coverage andome get back into the russia story. we will go to moscow and try to get the take on what happens next. >> what happened last night? the 6.5% was aggressive enough. >> i would have thoug

it is a setback for russia because they don't have that land route in. there have been rumblings amongst rebels that they would like to put a land route into crimera. >> many thanks. >> u.s. forces and allies have pounded islamic states targets in iraq and syria. on scene 31 airstrikes in one day. >> this video showing the bombing of three iis buildings near a leper in northern syria. another 15 strikes making up to 31 were carried out any rock including missions against the islamist stronghold of mosul. italy says that more than 1300 migrants have been rescued in the mediterranean over the past few days. >> four separate set sail from libya. most are coming from central africa. italy's interior ministry says that nearly 170,000 migrants have arrived in italy by see this year. human rights groups estimate at least 3200 have died trying to reach europe. 10 years ago, one of the deadliest natural disasters in recorded history struck more than a dozen countries in southeast asia, a powerful tsunami killing nearly a quarter of a million people. >> a remembra

for the 2018 and 2022 cups awarded to russia and qatar, eckerd published a summary and exonerated russia and qatar of any wrongdoing and did nothing to appease fifa's ethics. garcia disagreed with eckerd's sum economy and a day after that appeal was ruled inadmissible garcia has quit. in his e-mail garcia wrote "no independent governance committee, investigator or arbitration panel can change the culture of an organization. it's the lack of leadership on this issues within fifa to lead me to conclude my role is at an end." words that will hang over this week's committee meeting and next year's fifa presidential elections. alex thomas, cnn, london. >> as we mentioned to you this hour, the u.s. is ready to blame pyongyang directly for the sony hacking but there are concerns even more aggressive moves may be coming. next i'll speak live to an expert on north korea. >>> yeah, also coming up after the break a look at the impact of russia's economic crisis on the rest of the world. that's coming up. >>> you are still watching cnn and we appreciate that. hey, everyone, i'm errol barnett. >> i'm

committed to russia and europe? >> yes. russia is 3% and in europe in russia and it's one of the best in the market and strongest countries in europe. now, in russia, we look at the long-term. we see that on the ground. some of our clients in particular, for example, which request us some local finances. with more local financing of the economy, we of course monitor our risk and we move this is -- they've been doing every operation by france to reduce the -- by the government. >> now, other companies responding to the volatility that we're seeing in russia and the ruble, in fact, apple has halted online sales in russia due to the ruble volatility. the tek giant issued a statement overnight saying sales would be unavailable due so a review of pricing. get the full story on cnbc.com. >>> and sticking with tech, today we did get announcement from buy dbaidu that it is buyig a stake in uber. the company did not disclose how big of a stake baidu is taking. many times seeing as a google xet ir. on the sidelines, uber's ce

england consented and france and russia closed in upon germany. germany simultaneously lost the invasion of france by way of belgium which was slower than the french invasion of germany. >> two or three minutes left. we'll try to get in jimmy who's been waiting in rome, georgia. go ahead, jimmy. >> well, marvin kind of asked the question i was going to ask. but are you familiar with the george cannon's the decline of bismarck, your opinion order? >> mr. mcmeekin in our last two minutes? >> well, do you know, it's funny, i have not read that book. i have read the book on the franco russian alliance, and many other titles. i'm embarrassed to say i have not read that title but i am a great reader and admirer of george cannon so i will take your tip and check it out of the library as soon as i can. >> what's on your bookshelf now? what are you reading about world war i? >> well right now i'm actually finishing up a book called the war of the ottoman succession. so lately i have a whole ream of books on my shelf, many of them pertaining to the turkish

that speech l followed the announcement that russia is scrapping a pipeline project, instead russia will boost gas supplies to turkey, using current pipelines. now, it's asafe to say that russia's relations with the west are at their lowest point in year s because of the action he in ukraine. many of the issues that played out there are the same as what we're seeing today. go back to 2003 that's when georgians electricked mikhail sakasvi rvetio svili as president. in 2006. the south esetians went one step further, two years later , w. bush started lobbying his nato allies, that angered moscow. so when sakashvili unleashed his are, r , russian jets bombed the main city, they only stopped when french mediation ended the conflict. in about 5 days of fighting, 130,000 were displaced from their homes. sure, the united states and nato denounced russia's aggression but didn't do much else. in a prequell to russia's action he in ukraine, there's even talk of russia one day annexing one or both regions. mikhail sakashvili left office, and since then accepted a lecturer university are position at

much more about us than russia. russia is exploiting something that exist. so i'd like to see a kind of a transparency international information, an internationally recognized ratings system which would not rate propaganda, just rate disinformation and misinformation, somebody somebody like rt or maybe american channels, a one out of ten while the about bc a seven out of ten. immediately, we can just start regulating ourselves a little bit 'cause, again, my fear is what rt is doing now, everyone's going to be doing more. and this is much more sort of pernicious than sort of like, you know, sort of fox news doing, you know, being obsessed with birth certificates. >> right. even though there are similarities. >> yes, in the back right there >> thanks very much, jay allen, part of the fpi leadership network. i'm not a russia expert but something i have always thought about is with regards to ukraine, i mean, it's been a tug-of-war if you leave ukraine as is, it seems it will be a tug-of-war going into the future, putin will always have his tentacles in there. i

he insisted russia would never go down a path of self-isolation. >> russia will be open to the world to cooperation to attracting foreign investments and to the implementation of joint projects. >> reporter: and as closures and layoffs become more common on the streets of moscow he announced special measures to protect the small businesses that he believes will help lead the economy out of recession. >>> so what about russia's annexation of crimea and eastern ukraine, putin defended russia's aggressive foreign policy saying its action he were necessary for the country's survival. peter sharp, al jazeera, moscow. >> the latest in what has been a troubled history for the region. stefanie de dekker reports. >> people in the oil rich and predominantly muslim region has been fighting for independence for centuries . more recently there have been two major wars. 1994, the chec chech chec chechf attacks including one major ones, that's 2002 moscow theater siege and the 2004 attack on a school in bezlan, that killed more than 300 people most of them children. the year before the bezlan attac

from russia. supporters were present condemning the president between ukraine's government and europe's last dictator >>> russia says it will not cave to pressure in the wake of sanctions. russia calls it collective punishment. morgan radford sat with an associate professor of international relations and asked if the sanctions made sense. >> sanctions are necessary, bus russian ruble is very, very low. oil prices are low. russians are feeling the pinch. vladimir putin has to explain himself every week to the russians. so i thing it's a good time for diplomacy rather than for sanctions. we can under in the u.s. or canada or elsewhere the process takes time. it is good that the ideal of sanctions or possibility of sanctions are in place. i don't think they should be enforced now. >> the question is how much longer can vladimir putin old out. approval is high. that's given his cell of the state media. how much longer can this continue. >> russians will love vladimir putin. he fits the russian ideal o

it happened because russia's ambassador to paris receives a telegram from russia's foreign minister, who had learned earlier that evening that austria-hungary had begun shelling belgrade. he then got the czar to sign the order for general mobilization on wednesday july 29th, he then sent off a telegram to paris saying in rather elliptical language due to germany's desire that we cease mobilizing we must now regard war as imminent and that is why on the same night that he was panicking and trying to rescind the blank check france and russia resolved on war. could it have been averted is the question? obviously the chancellor and kaiser would have had to have been more forthright sooner on. probably they should have called the military to account about this idiotic plan to invade france by way of belgium, which was potentially a cassis belly for the british. i think that's quite possibly true. still it is interesting, that the timing mattered greatly. it was not all written as lawrence would have put in lawrence of arabia. it was not necessarily in the cards. even to the last minute th