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tv   Journal  KCSMMHZ  October 2, 2012 2:30pm-3:00pm PDT

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>> is this is "dead journal" from berlin. >> ahead in the next half hour -- georgia alexa's new parliament, forcing president mikheil saakashvili to concede, but these days in office. >> a collision on the busy hongkong harbor killed at least 37 people. >> a new study shows australia's great barrier reef is in a serious state of decline.
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>> george is entering uncharted waters, perhaps the first democratic change of government since the collapse of the soviet union more than 20 years it. >> president mikheil saakashvili will stay in office, but his party has lost parliamentary elections to the opposition party, the georgian dream. now you'll have to get along with a new prime minister who ran a bitter campaign against him. >> batman is a once elusive millionaire who only wanted to politics last year. we will find out more about hamper our correspondent in moscow in just a moment. first, this report. >> it georgians will cut to the prospect of a new parliament. it's the first time since independence that an election rather than a revolution has led to the transfer of power. >> i expect improvements and laws so that children will be
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happy. i don't know how he will behave and what he will do for the people, but i see the people are hopeful. >> we expect things to get better. expect new things. the whole population is in a good mood. people meet each other and kiss each other. >> he swept to power in 2004 but faces accusations of but the rates vary and rule. his party will no longer control parliament. >> it is clear that george and dreamliner it has secured a majority. this means they will form the next government and i come as the president, with the framework of the constitution will assist the process. >> the georgian dream alliance is led by billionaire tycoon, bidzina ivanishvili. he campaigned on a pro-moscow ticket but wants to move closer to the european union as well. he says his coalition deserves to win. >> we made the best choices and collected the best coalition.
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the result is no coincidence. >> a new law that takes effect next year will transfer some powers from the president to the prime minister. >> let's go live now to georgia -- to our reporter who has been following the events from moscow. >> many did not know much about the oligarch until last year. what we hear about him now is bidzina ivanishvili call -- comes from a family that started computers and has business related from banking to real-estate. with that money, he supported mikheil saakashvili's reforms in the first years of his presidency before he started feeling at odds with him. he accused him of becoming more
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and more egalitarian. >> what about his policies? do they make any sense? can he move those closer to moscow and aim for nato membership? >> they do make sense. whether he can manage to bring it together, time will tell. what he really wants to do is not become an ally of moscow, which mikheil saakashvili not only one time accused him of, but he accused him of being a kremlin stooge. in fact, bidzina ivanishvili wants to restore ties with russia. that does not exist because there was a five-day war in the summer of 2008 and relations between russia and georgia ceased to exist. relations are very important for georgia because russia is the main export market for georgian food and fruits, vegetables and
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wine. that's why he wants to restore these relations to bring it around again. >> briefly, do you think he can get on with mikheil saakashvili after such a bitter campaign? >> he has to get on and we have good it signals the as we heard today. first talks have taken place this tuesday to cooperate for the future of georgia. >> thank you for that, from moscow. >> to china and our police have made arrests in connection with the country's worst maritime disaster in decades. it has left at least 37 people dead. >> and scores of people were thrown into the choppy waters upon, harbor when a pleasure boat collided with a ferry. >> the smaller boat carrying partygoers sank within minutes. the ferry passengers suffered minor injuries. >> it began as a holiday outing but ended in disaster.
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after the pleasure craft was struck by a ferry and sank, rescuers brought more than 100 people to the hospital, including many children. the cause of the accident is not yet clear, but chinese authorities say suspect human error. >> we have come to the suspicion that the crew responsible for banning the two vessels has not exercised the care required of them by law to ensure the safety of the vessel and the people aboard their vessels. it is on this basis they have been arrested to assist with the inquiry. at the moment, we have arrested a total of six persons and we expect another person to be arrested. >> a rescue operation pull bezants from the sea. survivors describing a terrifying ordeal. some say the boat sank in less than 10 minutes and said they had to break windows to swim to the surface.
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the death toll could rise. authorities say there may be more bodies trapped underwater in the ship. the other boat suffered damage to its dow chemical is in but was able to make it back to port. -- suffered damage to its out in that coalition. >> spain's prime minister has denied he will be asking for a bailout as early as this weekend. there were reports request was imminent. the leaders of the spanish regions have agreed to a strict limit on their deficits for this year. spain's overall deficit is expected to be well above the european union target. germany prospered largest insurance company has gone public. >> is the highest initial public offering late germany in about one-and-a-half years. the chief executive officer has run in a new era for the company. they have made over half a billion euros.
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he says the money will be used for consolidation and he is not planning any new acquisitions in the next two years. that ipo could be a hopeful sign for shares in the coming months. our markets correspondent has more from frankfurt. >> the ipo is a sign of hope for many traders. they are hoping for more ipos to come. 20% of the german mobile phone operator will soon be sold on the stock market according to its parent company. of the ipo process is planned to start as early as this week. all of this is good news for people in the trading floors because ipos only work when there is a certain not of confidence on the markets. a certain amount of reliability. with all of these new players on the stock market, many people here are hoping for stock prices to continue to rise.
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>> continuing to rise is not what they're doing now in europe. as you can see on the board in the background, putting on the brakes -- the dax down almost 0.3%. the eurostoxx 50 also sliding. the same in new york, the dow jones is losing its gains from yesterday. it was a strong start to the week. the euro continues to climb, skipping over the 1.29 mark. >> it to big to fail became one of the buzz terms of the financial crisis, when the world's banking crisis -- world's banking giants are so big they have to be bailed out by the taxpayer when they get into trouble. >> it problem that hasn't gone away. a panel set up by the european union says it has the answer -- to split the bank's investment operations for retail services. >> but the banks themselves don't like the idea at all. deutsche bank dozen separate deposit and retail banking from
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the high-risk investing banking part of the business. but the european union is considering forcing banks to separate the two areas. the idea is to make sure deposits are safe. >> this report goes a long way to the direction where we get rid of the system where profits are private and costs are public. >> the advisory group said up by the european commission want banks riskier operations to be legally separated from the retail business. they would become separate subdivisions of a holding company. if an investment division collapses, it would still be safe. taxpayers would not have to foot the bill. these are similar of the ideas put forward by the man that of stephen next chancellor. the proposals received broad support when they were set out last week. but the title industry is balking at the prospect of changes. >> we are fearful the mandatory
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separation into a separate legal entity will be troublesome and could have adverse effect on the capacity of banks to service lending. >> it could be some time before any changes are made. but it looks like after five years of crisis, the european union has decided it is time to act. >> iran is pledging deeper into its economic crisis. its currency has lost the third of its value in the last week alone. >> many ordinary iranians are packing and converting it safely into u.s. dollars. the crisis is being blamed on international sanctions choking off iranian oil exports. critics of the government limit for economic mismanagement. >> president's mahmoud ahmadinejad has been defending his record, saying iran will define -- defy the enemies
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behind the sanctions. >> the iranian currency has fallen to a record low, losing two-thirds of its value since sanctions were imposed because of their nuclear program. just last week, it's fallen almost a third against the u.s. dollar. many air changing their savings into hard currency. mahmoud ahmadinejad says the country will ride out the sanctions and blames the country's enemies for the collapse of the currency. >> they have managed to reduce the part of our oil sales, but hopefully we will compensate for this. this is a battle. the enemy thinks it can crush the iranian nation with its pressure. >> iranians have lost a great deal of buying power. inflation is around 25%. meat and milk are becoming increasingly expensive while vegetables of doubled in price. nonetheless, president's mahmoud ahmadinejad rejects criticism of
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his policies and exist -- and insist the country's nuclear program will continue. >> now to the trial has been rocking the vatican. the pope's former bolar has denied stealing confidential documents. >> he admits copping certain sensitive papers and abusing the pope stressed. the trial opened over the weekend. he is defending himself and insists he acted alone. if found guilty, he faces four years in jail. he complained about the conditions he endured and eight tiny vatican sell after being arrested. onto sports news and it is goodbye to one of the biggest names in german football, michael ballack. >> he has renounced -- he has announced his retirement and it didn't come after a big surprise. it is a low-key and to a career that has had its fair share of ups and downs. here is a look back over his 17- year run.
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>> he's known as one of the greatest german footballers of recent times. he and his career at a club where he had some early success as well as some bitter moments. like losing the german championship in the year 2000. but he enjoyed his greatest triumphs in the years in- betweens, like in munich. and that chelsea, winning a number of national titles. ballack skippered the national squad for years but never managed to win international title for his country. following a serious injury and is that the coach, he was forced to retire from the national team, but he remained a popular figure and was never short of advertising contracts. at age 36, he has been without a team since his two-year deal he expired in june. he retires after 17 years in the
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professional game with to under 67 league outings to his name. >> we will be back in a minute and look at the role of the state in the u.s. in the run-up to wednesday's's presidential debates. >> shaken, not stirred.
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are you sure? 30 water is the only drink millions of children have. 3000 of them die every day. please get involved. make your donation at unicef. >> welcome back it could be a turning point in the u.s. election campaign. on one set, barack obama and their romney will go head to head for the first debate on live television. >> romney will be looking for a game changer in his campaign after some tough weeks. obama for his part is hoping to open up a significant lead in the polls. >> a debate is really all about the clash of ideas and his first one on domestic policy could see the biggest clash of all. >> that is because both candidates have very different ideas on the role of government to solve the country's problem. it is a dividing line that cuts
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right through american society. >> after a long day's work, as washington attorney enjoys being at home with his family. for months, the presidential race for the white house has stolen the headlines. he already knows he's voting for. >> i think romney offers a set of policy proposals which will grow the economy, of the port of poverty, all of the middle-class and provide jobs for the american people. >> republican candidate mitt romney want lower taxes and less government intervention. that's something this family agrees with, particularly when it comes to health care reform very >> health care is not our right in the sense we don't authorize the government to take for other people to provide the american people with health care. healthcare is a privilege. >> but this obama supporters sees a different america. he says the government is not giving people the help they need. >> health care is not a privilege. health-care is right. playing golf is a privilege.
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you don't have to play golf. >> he can afford to buy private insurance for themselves and his family, but as a presbyterian minister, he often crop -- often comes across people his lights have been turned upside down by the economic crisis. that's why a lot with most of the members of this parish council, he was to see president obama reelected. he wants to see more opportunities for those who are less well-off, especially when it comes to education. many students are left with crippling debt after graduating from college. he's a big supporting -- supporter of low-interest student loans. >> i like the fact that with two children in college, that college loans will not have interest rates that go through the roof. that helps my two kids. >> like most americans, they are worried about putting their kids
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through college. their daughter has had to take on a student loan. but they don't think that to the state to help them. rather, a lot more competition in the education sector to lower fees. >> we take loans out and she takes lunch out, so the loans are going to be so debilitating after she gets out that it will take years and years to pay off. >> the family doesn't -- doesn't trust politicians in washington. like many romney voters, they believe government intervention is part of the problem, not a solution. >> the role of the government is just to protect your property, to protect your security, and to protect your economic freedom. that's it. it doesn't have any other role. >> after the meeting with his parish council, he had some for dinner with his wife, math teacher. one of the election issues that strikes a chord with the 49- year-old is a rising budget deficit. but more important as the government's ability to keep
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financing projects that create jobs. >> sometimes you have to spend money to make money and i think that is what about all is trying to do, particularly with the auto industry. he invested in them and now they're back on top. >> when americans go to the polls on november 6, they will be deciding which direction america goes and, toward more government or less. >> staying in the u.s. and the new york attorney general's office has sued one of the nation's biggest banks. it's the first lawsuit to be piled as a result of a special working group set up by the president to investigate misconduct that led to the financial crisis. >> san francisco in october, 2008. ordinary americans who lost their homes in the subprime mortgage crisis protested mortgage bankers. the protesters blamed the brokers for the situation that led to many homeowners being unable to pay their mortgages. >> the bankers inside here are responsible for the crisis.
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they are getting rewarded while the victims of this crisis are being punished by losing the places they have to live. >> one bank that dealt in residential mortgage-backed securities was bear stearns. in 2008, the bank was collapsed and taken over by rival j.p. morgan. for years on, j.p. morgan is being held responsible for the actions done by the bank it took over. bear stearns is alleged to have committed massive fraud, causing damages of more than 17 billion euros. the evidence was assembled by a coalition of law enforcement agencies created by president barack obama in 2009. the lawsuit is part of a federal initiative to hold a major wall street players accountable for america's biggest financial collapse since the great depression. >> in germany, people are getting set for the country's biggest public holiday, the day of german unity marks the rejoining of east and west back
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in 1990. >> it also signified the reunification of europe. a timely topic as leaders try to shape a new fiscal union of its debt crisis. >> of munich is making last minute preparations for the day of celebration. it is the bavarian capital cost turn to host the official ceremonies. it's 23 years now since the fall of the berlin wall, the event that changed germany, europe and the world. memories are still fresh in many people's minds. >> i remember very well how the border was open to 1989 and the first east germans began arriving in munich. the seemed very exotic to us when they first arrived. >> the day of german unity is an important holiday for many. >> as long as i live and can come out to see it, this will be the most important national holiday for me. >> the state premier of bavaria
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spoke on the eve of the holiday and honored the achievement of the east german states in the years since reunification. >> i have the greatest respect for the people of berlin and brandenburg and other for the way they manage to reform and adapt. >> the country's top politicians are due to attend celebrations on wednesday, including chancellor angela merkel. >> germany could be said for a new age of biotechnology. chancellor angela merkel has opened at the institute of to revolutionize chemicals industries by moving away from using oil to make plastics, paints and other essentials. >> duties at bioreactors hold the key to the future? -- to these bioreactors hold the key to the future? by extracting and signs from
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local but some oil, scientists want to make cleaning agents and plastics that are less harmful to the environment. carbos products rely heavily on fossil fuels. one researcher says the new project is a step up in scale. >> normally we are in our labs doing in test tube size scales. occasionally, we might use a 100 leader reactor. this time, the goal is to go big, tons, a cubic meters. >> the pilot plant is just one of many looking to shake up the industry. the bio economy association consists of 80 industry leaders. they players -- big players like chemical producers, to them, the association is an investment in the future. >> the future of the industry is green. everyone talks about sustainability. we walk the walk and frankly we have no other choice.
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the oil wells will not float forever. >> oil refineries still loom larger, but the winds are changing. >> not to an update from somalia where african union and somali troops have consolidated their grip on a city there. >> the southern port was the last urban stronghold of the islamist militia which made what it called a tactical retreat over the weekend. the al qaeda-linked militants were driven out of the capital last year and continue to control parts of southern somalia. finally, the world's biggest brief is in even worse shape than thought. a new study shows of st.'s great barrier week -- great barrier reef has lost over half its coral in just a single generation. >> this trillion institution of marine science says the pace of damages kicking up. cyclones of predatory starfish are the main causes along with: gas shipments and global
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warming. >> coral reefs provide the breeding ground for countless species of fish. the great barrier reef is no exception. commercial fishing is now mostly banned across much of the area. three 6 cents more than 2,600 kilometers along the us trillion coast. the northern part of the refinements largely intact. it is the southern part scientists are worried about. severe storms are said to have cost nearly 50 percent -- said to have caused nearly 50% of the damage. a further 40% was caused by starfish that feed on the coral. one species, the crown of thorns, has proven especially deadly for the coral cover. >> we believe if we can take action on one of the things we can directly control, the crown of thorns starfish, it may leave the reef in a position where it can better withstand some of the climatic impact spite cyclone
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and coral bleaching. >> regardless of what is causing the damage, brain biologists say action needs to be taken now to save the reef. >> with the same conditions over the next 10 years, we would see a further reduction by half of the coral cover. >> that would almost certainly have a negative impact on australia's economy. the great barrier reef's tourism and fishing industries generate revenue of several billion year as a year. >> that is all we have time for. stay with us. we'll have more news at top of the hour. >> if need more information, check out our website,
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