tv Venture Capital RT July 13, 2014 4:15am-4:30am EDT
the boss repeats the same old joke of course. your ex-girlfriend still tends to poetry keep. ignoring it. really matters. to your facebook news feed. welcome to venture capital with the k.c. building this week we've come to the heart of the moscow financial center to talk about the recent tensions surrounding the global banking industry we've also got coming up on the show our in-house investor mr tim kirby he's still involved with his metals industry was sued how he got on the second week running with service all that to come as well as corporate news and the world cup final takes place in brazil today but in four years time it will happen here in moscow we go to the free
stadium where it all kicks off but first a u.s. so far it is a all clamping down on european banks especially at the moment for what they see as violating trade sanctions now this could potentially alienate the u.s. from its traditional allies of course we had the french bank b.m.p. power about fines nearly nine billion dollars then it was commerce bank it's thought we find hundreds of millions for breaking u.s. rules now what does this mean for the u.s. could it mean they are a rare thing themselves from traditional partners what is the us an expert right now into a buy on all of the cloth from to me this oldest investment bank on birds of the air thank you for joining me today because some a rather glorious moscow would be ok do tell me we can have a bit of a stroller take is the u.s. alienating itself or is it right to be enforcing such huge fines the european banks and actually all the banks in the world all stark to the u.s.
dollar you know they have just more choice they have to apply it to avoid on one hand to their home rules regulations in europe for. us bob because the. i'm a subsidiary of b. and q. was involved as well and all the other homes they have to abide. to respect the international order the u.s. regulations yeah although in this case you know it was something which was. unrelated so it's a very is interfering by the u.s. side because obviously it is a separate culture isn't it to separate countries so you can say almost of one somebody it is interfering but on the other hand it is their own currency yeah so as long as you usually know this is a national currency and the central bank or federal reserve has in its all right to decide of things as it won't be goes it's its own currency so this is the funny thing with the u.s. dollar is that on one hand it's the u.s. currency on the ties to. work as a country rules and policy and currency point that's it and all the other
hand it is the currency of the world and is that the problem i do think they are a very reliant on the u.s. dollar quickly see a backlash towards the dollar if they think about a number of economists are saying that definitely you know trade should be made you know the currencies and not just the u.s. dollar i'm not trying to finance minister didn't he the rebalance the thing we have here there but president putin did say that a few years ago already and i think they are trying he's trying with the brics countries and to have these kind of alliance with china on to trade already and between different countries already in yuan or in russian ruble or in the indian rupee now what about european companies because some heads of french companies for example have been questioning why is the u.s. dollar you so much as opposed to the u.i. design i see that's why the euro was introduced in the past but emission national contracts you can use the currency with you that you won't yeah if you want to use euro you can the problem is that it's. first of all the certain you know
commodities especially oil and gas are basically linked to the dollar bills and and that's a this is international trade these may change over time obviously about you know you have the gulf and the gulf countries first of all their own currency is pegged to the u.s. dollar so it's basically almost exactly following the. well the u.s. dollar so you know and they are the large by far. the u.a.e. and saudi arabia that are just oil producers the world's all the countries also oil producing mexico and venezuela are very much into the u.s. as well so some some things you know like this will probably remain for for a long time you know however there will be people say the reason fights you know among countries to sort of a number of countries want to get away from the u.s. dollar and the u.s. general you know more so than a union pollers is becomes more a geopolitical aspect than just the financial is a political tool to think the u.s.
sees it as that well each country you know is using its own tools to influence the others in the gay that are similar to the u.s. as well jules. in the richest country in the world by phone all right on out the clock thank you very much indeed for joining me today from the free center of the moscow a financial. and to king of global banking well the powers the five nations brazil russia india china and south africa i.d.s. in brazil for the eve of the summit a message to finalize the details of the development bank that we've got a ferry i missed calls start he's in the country just now for a stop to tell me what do i expect tases and what is on the agenda this week for the first is the development bank or the brics bank as it's going to be basically this is going to be a war chest for times of crisis is going to protect the five countries and their
economies can act as a buffer if there is a future financial global crisis and the second part is the stabilization fund which is going to help support the emerging economies it's going to be seen as an alternative a rival if you like to the i.m.f. and the world bank let's talk about facts and figures because this new. newbridge bond is going to have one hundred billion u.s. dollars in reserve and forty one billion of those are going to be provided by china eighteen billion will be provided by russia india and brazil each well south africa will provide for i've been there. and i suppose the burning question has to be do we need this bank or the fact of the matter is that the emerging economies are actually mainly creditors for the developed nations meaning that they are financing the developed countries of the developing world accounts for around seventy five percent of the world's total currency was a watt power of wealth distribution why is very much still with the west not purely
because traditionally however the tide is turning and times are changing and the process could be accelerated by what happens here in brazil a bridge twenty forty k. thank you very much mr scott in brazil for us now talking of the country where the final of the world cup will take place today i went along to the stadium here in moscow where the opening game of the twenty eight team event to take place here in russia. the winners of the twenty fourteen world cup will be announced in brazil today in fast forward four years and it we happening here in moscow for the twenty eighteen a vent the final will take place just behind me at that is nicky stadia which right now is being reconstructed at a cost of seven hundred million dollars and that's to get it up to the standard and to facilitate eighty one thousand people it's get a ticket sales coming in in order to make up the price tag which at the moment is sitting at around eight million dollars but it's set to eclipse the brazil prize
which was around twelve billion to be the most expensive world cup in history now at the moment only three of the twelve stadiums have been finished so the pressure is definitely on the labor is to build as well as the investors to make money and the football as cisco. right now it's time to sing corporate news let's find out what's been moving in shaking the most a city buildings at this weight serbia has signed a two point one billion year i contract with a gas problem subsidy jury c called stumps the sunscreen pipeline across its territory this is despite the increasing pressure from the e.u. to suspend the projects because it claims it breaks competition no. question of budget carrier dubray last has pace painted loads of flights to suit beaches but this is due to a failed agreement on the cost of the food services with the city's cocoa apple.
precious state and bank the e.p.a. has said it will not take part in a bailout of met joe the indebted mine has been hit by weak prices for its products and was hoping for a convertible bond scheme from the bank the company has already gone through several debt restructuring. let's get over to the headquarters now and see what tim cabbie has been up to on the business desk because he was stuck with sevastopol once again so how did it walk out for the second wave well not as good as the first time i lost sixty five dollars but that's ok i'm still way ahead and waste of money also meant that you had to spend a hundred u.s. dollars on what have you found said last time it was pretty certain what to do. well are your thoughts since it's summer time most people in america might have a cool coca-cola or something but here's the summertime drink costs for russia you know i will tell you what's in it because it'll sound unappetizing book tell you
two things one is to lucius two it contains no animal parts so well i hope you like it because there are sixty more of these in your office waiting for you but anyways katie i think it's time to find out what we're going to invest in but certainly we can't invest in court costs. maybe both to make squash i forget bullets she is a going to be baltic. is it is it know it's not it's going to be roasted diamonds which i believe worked out pretty well but hey cross might be cheap but for me it's a lot better than diamonds now tim you've done exceptionally well overall what is that you'll see create can you just talk us through a war has been happening plays my secret i think complete and pure luck i don't know we just put major russian companies up here it could be also the fact that a lot of the really really big and reliable companies trade and the more medium and small sized companies really don't so maybe the selection in russia is
a little bit more reliable i don't owe. a thank you to the likes of you very missed it. looking forward to seeing you and next week it is time for me to say goodbye from the financial hub of the last day well the fine until action and trading takes place get by scenically. when people talk about human rights violations you should involve some pro western protesters getting beaten up in response with mainstream media is usually to bomb somebody somewhere so good thing they haven't picked up a story from detroit that the un is calling a human rights violation residents of the motor city or well sadly the former motor city who are hundred fifty dollars or more behind on their water bills are getting their water shut off completely the detroit water and sewage department is five
billion dollars in debt and that is a justification to crack down on deadbeats on the surface the seems like an open and shut case of course everyone has the right to water especially detroit which is near huge bodies of fresh water that other cities could only dream of but on the other hand if the poor don't pay for water then us taxpayers will be paying for for it. or them and that's not fair i think this is not so much a case of a right to water but a right to decent plummet and a crapshoot for a city government back when people detroit had good salaries and a government that wasn't flagrantly corrupt they would have any problems paying for their water bills but that's just my pain. to speak your language. programs and documentaries in arabic it's all here on. reporting from the world talks about six of the ip interviews intriguing story for you. live in troy
arabic to find out more visit arabic don't call. there's a media leave us so we leave that maybe. by the same motions to cure the plague the party isn't the. questions that no one is asking with the guests that you deserve answers from it's all on politicking only on r t. and i welcome back now another story we've been following this week relations between germany and america have suffered another blow germany kicked out the cia chief in berlin after officials are marse to alleged u.s. spies working for state security anger over the snooping is widespread the german interior minister dismissed the information obtained by the lead spies is laughable
but said the political damage is serious a left party member expressed outrage saying there is no longer blind trust in the u.s. and the justice minister has demanded u.s. spying in germany be stopped once and for all artes peter all of our reports now from berlin. sent packing a with a flea in his ear. i just want to say that if you see it was human common sense in my opinion spying on allies and friends is a waste of energy. germany has now told the cia contacted the u.s. embassy in berlin to get his things and leave. for the first time after a series of spy scandals this is a strong message from the germans that they've had enough of washington's behavior . city boy foreign intelligence services isn't something we're taking lightly but it took a whole string.