meeting to discuss the crisis in syria. the government of bashar al assad has ignored. james murdoch is backing away from the british newspapers in his father's media empire. news corp. says murdoch is no longer on the boards of the subsidiaries that publish "the times," "the sunday times." the inquiry into uk press efforts is back in session in london this thursday. the committee is set to hear from author j.k. rowling, actress sienna miller and former formula one chief max moseley, the inquiry is looking into allegations of phone hacking and police bribe by by the press. i'm monita rajpal, "world business today" starts right now. it's 9:00 a.m. here at cnn in london. good morning to you. i'm nina dos santos. it's 5:00 p.m. at cnn hong kong. i'm andrew stevens. you're watching "world business today." the top stories this thursday, november 24th. >> the former clrkseo of olympus speaks with prosecutors in japan. speculation is mounting about him taking his oath job back. big shoes to fill at the top of one of the world's biggest conglomerates tata names cyrus mystery as his success store at tata. 2011 has been an exercise in crisis management for nissan ceo car loan grown. he's still optimistic about growth for the future. just about an hour into the trading session in europe. markets started pretty strongly. the likes of the zet draw dax up by .25% after yesterday after germany had a badly received bond sale. that in turn pushed the euro to a six-week low. the currency is rebounding. we've got a key measure of german business confidence set to come out. keep an eye on that market later today. for the rest of the eurozone it's not looking bad either. cac 40 up in excess of 1%. bit more of a mixed picture on this side of the world today. there was the continuing concerns about the european debt crisis. take a look at japan down by nearly 2%. but that was catch up. it closed yesterday, wednesday, for the public holiday. big falls across asia yesterday. the nikkei getting back into lime at the rest of the region. the nikkei is still deepening the 2.5 year low. in hong kong the market finishing .4% in the black. shanghai interesting developments out of china following the weak manufacturing number from the hsbc survey yesterday. the central bank authorities in china have eased lending restrictions for some rural banks. these are the small rural banks, not the big four pillar banks in china. it's a move nonetheless to ease the tight monetary conditions in china to keep the economy rolling. six of those 20 banks were in the eastern province, there's been a big credit squeeze there hurting small business. authorities in beijing are realizing they do have to make some moves, being helped by the weaker than expected manufacturing number and low inflation. know, a showdown at the japanese optics maker olympus is in the offing. michael woodford, the firm's first foreign ceo is back in japan to face off with former colleagues. six weeks ago the board unanimously fired him after he questioned billions in past takeover fees. ramy inocencio is following the story. >> in the past few minutes michael woodford came out of the meeting to discuss the probe. two main points, one, he said he was immensely encouraged and confident that japan will get the details of the money flow transactions in question. and on friday he says he's going to tell them the game supp, stop hiding and do the right thing for their tokyo. just yesterday woodford touched down in tokyo. when he landed he was very confident and also a little bit confrontational. >> japanese life is wonderful to be harmonious in a personal level with your friends and family. in a corporation you need agitation, you need challenge, you need questioning. if that's not good for japan, then i'm very sad. >> and you'll remember that michael woodford has been questioning this much money, $1.4 million in acquisition fees. one of those fees amounted to $687 million or 35% of one acquisition. as a percentage, that's the largest in global eminent history. that's raised a lot of eyebrows. olympus stocks slid as much as 80% afterward. he was ousted october 14th. it has risen. today up 17%. this is happening as investors see some containment taking shape around the fallout. earlier this week, a third party panel found no connection between olympus and organized crime. >> certainly he's on the defensive as far as ol limb puck is concerned, but do you think he's trying to get his job back and is that likely to happen. >> that's a good question. woodford is not hiding that. right after he landed he came out to reporters and said it. will he be able to do? earlier today i spoke with ben colette, head of japan equities at lewis in hong kong, he said he would have a target on his back if he returns but still thinks it's pretty likely. >> can't see any viable alternative right now. it's probably 80% certainty he will. but his ability to change the business from inside now i think is going to be somewhat compromised by the fact that he is, a, a foreigner and, brks, basically the person who brought down the established management. >> where do we go from here? if the current investigation finds that olympus lied in its filings, it could be delisted from the japan stock exchange. woodford says he does not want that to happen and olympus is still, quote, a remarkably good company. >> stay tuned. ramy, thank you very much. ramy inocencio, our asia business editor. nina. >> would you leave a holiday dinner with all the trimmings for a shopping bargain? thanksgiving may never look the same in united states. ahead on "world business today," find out how retailers are getting a really big jump on the christmas shopping season and who is not happy about it. who nd imagine... one scooter or power chair that could improve your mobility and your life. one medicare benefit that, with private insurance, may entitle you to pay little to nothing to own it. one company that can make it all happen ... your power chair will be paid in full. the scooter store. hi i'm doug harrison. we're experts at getting you the power chair or scooter you need. i didn't pay a penny out of pocket for my power chair. with help from the scooter store, medicare and my insurance covered it all. call the scooter store for free information today. okay... uhh. the bad news, it's probably totaled. the good news is, you don't have to pay your deductible. with vanishing deductible from nationwide insurance, you got $100 off for every year of safe driving, so now your deductible is zero. the other good news ? i held on to your coffee. wow. ♪ nationwide is on your side ( laughing ) it's actually a pretty good day when you consider. that's great. closing bell at the u.s. stock exchange, nyse yesterday. the market is closed for the thanksgiving day holiday. that will be a relief to many investors. the market certainly falling sharply into the red. that was the sixth straight session that they fell into the red on wednesday. taking a look at the numbers, dismal numbers, all three indices more than 2% down, the dow 236 points to the worst. with all the eurozone gloom traders didn't want too much exposure over the long holiday. there was a lackluster support on the job market which added to the down beat mood. welcome back, you're watching "world business today." now, it's all about counting your blessings. turkey, traditions, the u.s. is gearing up for one of its most important annual holidays, talking, of course, about the american thanksgiving. before the big day itself on thursday, there's actually quite a to-do list. first the u.s. president always pardons a turkey. >> i like doing this. you are hereby pardoned. >> this particular beast won a kind of thanksgiving turkey jackpot and won't, in turn, end up in the cooking pot. 45 million other turkey also be the main event on american dinner tables on thursday afternoon. thanksgiving day is devoted to the turkey, counting one's blessings and american football, the day after, is for many people the start of the christmas shopping season. it's come to be known as black friday. a day so busy it usually determines whether many retailers finish the day in the black or not. this year many u.s. shops are opening their doors on thanksgiving. maggie lake investigates the trend. >> reporter: as millions of americans sit down for their thanksgiving feast this thursday, many others will spend their evening in a much less tranquil setting. don't look now, but black friday is fast turning into black thursday. among the chains opening their doors thanksgiving day, walmart, where stores are afrg holiday deals beginning at 10:00 p.m. and toys "r" us where most stores open at 9:00. macy's, target and other chains that used to open early friday morning, will now open at the stroke of midnight. some who follow the retail scene call this a troubling trend. >> where is it going to stop? are we going to be open all nice christmas eve? are we going to be open christmas day? are we even going to have thanksgiving? >> reporter: a backlash has begun. thousands signed a petition to get target to open later. with budgets tight and americans already shopping online, analysts say retailers have no choice. >> i would say you better do everything you can to get those customers as early as possible. they've only got x dollars to spend. that's all they're going to spend. so the idea that the stores have is we better get those dollars first because once they spend it, they're done. >> still shoppers in times square are not happy at all with the prospect of trading dinner to deals. >> am i going to get together for thanksgiving with my family or go save a couple bucks, it's shame i think. >> i think they should wait until the day after, 8:00 in the morning, 9:00 in the morning instead of ruining people's holiday. >> reporter: in florida shoppers are already camped out in hopes of being first in the door. big crowds are expected by thanksgiving afternoon. >> i think there's going to be tremendous lines. i think there's going to be fights over the door busters. the stores aren't doing anything wrong. they're offering the consumer more convenience, more time to shop, more deals. what are they angry about? >> reporter: never underestimate the power of an eye-popping deal, especially in these doubled economic times. maggie lake, cnn, new york. >> andrew, it's going to be interesting to see whether these particular kind of moves extend the holiday season and allow retailers to rack up more sales. on the other hand, people are saying it could bring existing sales forward and we'll see a tail off on the holiday season. the jury is out. >> i must admit i'm pretty clear on what i think. i think it should be kept a holiday. we have enough shopping days in the year already. a major management change at india's biggest con grom rat, tata has chosen its successor. what people in india think about that. let's take a look at how the bombay stock exchange is trading. concerns over a weakening currency, high inflation and slow economic growth will weigh heavily in investors' minds. as you can see, the sensex is up by about .28%. shares of tata motors and tata steel are tumbling in today's session, helping to feed a little weakness in the sensitive index. we have tata down by .5% and tata motors up by almost .5%. welcome back. you're watching "world business today." on wednesday, tata group announced that cyrus mistry will replace ratan tata as chairman after his retirement at the end of next year. ratan tata has led the $80 billion conglomerate for the past two decades and is credited with turning tata into a household name in india. the group comprises nearly 100 companies and employs nearly half mail eun people around the world. here are some of the brands you'll probably recognize starting with the nano. that was the car, the world's cheapest car when tata launched that, retailing initially over $2,000, meant to bring cars to the masses in india. it also owns land rover. extending into europe, tata has turned jaguar around. jaguar business is going well at the moment. it's also in the tea business, they own the tetley brand, tata steel has india's biggest private steel maker. >> ratan tata has been such a giant on the industrial scale, not just in india, but as you were saying elsewhere, what do we know about his successor, mr. mistry. >> certainly the name suggests quite accurately, not much at this stage, nina. he doesn't really have an international profile to speak of. here is what we do know. cyrus mistry is 40 years old, he's been on the board of the holding company since 2006. he previously served as a director of tata power and tata elxsi. the mistry family has an 18% stake in the company t second biggest shareholder behind tata trust which has about 67%. mr. mistry holds a civil engineering degree from imperial college in london and a master's degree from the london business school. certainly it's a big development in india. there's been a 14-month search for the replacement. let's get more on the impact of appointment to cyrus mistry. as i was saying, not well known outside india. how well known is mr. mistry inside india? >> reporter: that's right, andrew. not just not well known internationally. even in india, the first reaction is who is this man? besides the construction business circles, no one has really heard of this man. the second reaction was, oh, he's not a tata. remember, india is one of those countries where the family name makes a huge difference if you're a tata organ difficult. that was the initial reaction of shock, really and surprise. the other thing you have to remember is for the longest time people expected ratan tata's step-brother, noel tata to be the successor. but mistry has sort of come from nowhere. ratan tata is a bachelor himself, he had no children himself. so this was something that many people had been speculating for a long time, ever since he announced he would be retiring in 2012, everyone in business circles has been wondering who would take over. >> ratan tata as we saw earlier really took the company beyond india, made some big acquisitions. it certainly is a household name in india as well. what, if anything, is cyrus mistry expected to do with the company? will it be more of a guardian, business as usual, or is he likely to shake things up himself? >> reporter: again, andrew, there's not that much we know about him other than the fact he has been working for his family business for a few years now which is the construction business. he's really been responsible for going outside of not just construction and into other fields as well. very similar to what ratan tata was able to do for the tatton group. this was a company around for 150 years. it was just in the last few years that they were able to expand overseas with acquisitions such as land rover and cora steel. we still don't know which way he's going to go. clearly humongous shoes to fill. >> this is a store read company in its own right. but ratan tata as well as an individual is really a kol lus sus, i guess you could describe him in indian business, a highly respected businessman and a man who certainly speaks his mind. will he now slip quietly into retirement, do you think? is there still plenty to hear from ratan tata? >> reporter: ratan tata has his work cut out from him at least until the end of 2012 where he will be basically guiding and handing over everything to cyrus mistry. after that we don't really know. in a recent interview he said he is looking forward to actually retiring, although he did say that his only regret is that he is not 20 years younger because india is going through human mu humongous changes. i don't think this will be the last we hear from him. we'll have to see. >> difficult to see the indian business landscape without ratan tata popping up somewhere. sum nina u das joining us from del delhi. the ties that bond or not in places like brussels. jointly issued euro bonds, not everyone seems is happy about it. stay tuned. -why? 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[ electronic beeping ] [ male announcer ] still getting dandruff? neutrogena® t/gel shampoo defeats dandruff after just one use. t/gel shampoo. it works. neutrogena®. hello and welcome back, live from cnn london. i'm nina dos santos. >> i'm andrew stevens in hong kong. you're watching "world business today." let's show you what's been happening in the asian markets this day. as you can see, if you take out japan, it's been a very, very flat sort of day. still a lot of caution out there. the european debt crisis continues to hangover the market. you'll see the nikkei is down 1.8%, straight down off the top because there was a holiday yesterday. basically playing catchup. you'll see also very flat as well. the other thing to talk about here in asia today was the shanghai composite, not so much the numbers, but what was going on in china. the central bank eased lending restrictions for more than 20 banks. these were small rural banks, it's important nonetheless because it shows authorities are being quite proactive in managing the economy. we know they've been trying to squeeze inflation out of the system. we had numbers yesterday showing a much sharper fall than expected in manufacturing out put. that was followed less than 24 hours later by this move to try to inject a little more liquidity in some of the banks which are in regions where the credit squeeze has been particularly tough and hurting small business there. that's what we've seen. the composite up by just a fraction. the central authorities busy behind the scenes. >> where i am here in europe the markets got off to a pretty strong start despite the fact we have had them in reverse gear for about five sessions. let's have a quick look at how they're fairing at the moment. in particular, the eurozone companies benefitted the most, the cac 40 up in excess of 1.5%. must point out a really important reading of german business confidence coming later today. that will be keenly watched by the markets there, ftse 100 and zurich smi not up by quite as much, andrew. >> interesting developments in europe we've all been covering about the european commission and its weighing in on what to do about the euro crisis. it's just unveiled proposals for a common eurozone bond. that's an idea that could draw the finances of different european nations even closer together although it would require a tricky change. as jim baldwin explains, even if the idea takes off, we won't be seeing the end result for a long time yet. >> reporter: despite meeting after meeting after meeting, despite the removal of five prime ministers in troubled economies, despite vows to protect the euro at all costs, the european commission has not yet decided exactly what kind of common euro area bond could be or should be created. wednesday's proposals are for now blue sky thinking. >> we are trying to have rational, reasonable, serious, intellectually and politically serious debate. we believe this document does precisely that, and reencourage all parties now to tell their opinion. >> reporter: so how would a bond, a euro bond work? the commission has three ideas. one includes scrapping all individual country bonds and having only one common eurozone bond. there are also controversial proposals on whether all of europe's debt should be pulled, meaning germans would be, in part, responsible for the debt of, say, the greeks or the irish. some analysts say no matter how europe gets there, a euro bond is coming. >> i think the commission is absolutely right to be setting that as a possibility. if we don't look at those options which make a huge difference in terms of reducing the cost of debt to a number of countries which otherwise would never meet the debt obligations and would have to keep on defaulting. >> reporter: the commission is no longer calling it a euro bond, by the way. it wants it to be known as a stability bond. barroso denied a change in name was to change perceptions in germany. he also denied that germany is dead set against a common bond. it's more about making sure countries show they were seriously cutting their deficits. >> it means there is no opposition regarding the principle. >> reporter: does all this mean europe is closer to getting a euro bond? not really. these proposals will be debated until january. then the commission will decide what to do next. a quick fix it ain't. but maybe it will help to restore confidence. jim boulden, cnn, london. the leaders of the eurozone's three largest economies are going to be gathering in strassburg, france, later today. french president nicolas sarkozy will be meeting with german chancellor angela merkel and italy's new prime minister mario monte will also be present. his inclusion is seen by some as a key sign of support for italy from companies like france and germany. diana magnay is monitoring the developments and joins us from berlin. i distinctly remembering mario monte clashing with nicholas sarkozy when he was finance minister. they're going to be meeting eye to eye as heads of state. it's going to be a tough meeting, isn't it? >> reporter: yes, nina. but i think there was no love lost between the german chancellor, the prime minister and the previous prime minister silvio berlusconi. and to see a technocrat trying to pull italy out of its current problems is a far more amenable partner around the table than perhaps mr. berlusconi was. in that sense they can at least all three work together with a shared understanding of what the problems are that europe faces if not shared solutions to what's -- to how to go forward, nina. >> let's talk about this issue of, say, euro bonds, now dubbed stability bonds as we were hearing from jim boulden before. this is really difficult, perhaps will take years to implement. is there a concern that the kind of solutions that are being mooted here by these leaders aren't feasible in the short term? >> reporter: i think in the short term, yes. germany has made it very clear that it does not think that euro bonds are a solution right now. germany is fundmentry opposed to this idea of a transfer union, of the idea that prof lig gat members states may not keep therapy budgets in order when they know germany's name is on the back of a common shared bond. germany understands it's going to have to pick up the bill for any kind of shared guarantee on bonds. that's something it finds very difficult. as we heard yesterday from the german chancellor, she's not ruling it out once and for all. she said it is inappropriate to talk about euro bonds, stability bonds, whatever you want to call them right now. but you do get a sense there is a gradual feeling growing within the coalition, within this country that they might have to be implemented in some form or other a little further down the line. another bone of contention that will obviously be on the table at this meeting is how much the european central bank should be a lender of last resort to countries whose sovereign debt, whose borrowing levels are rising to unsustainable levels. we know france believes it should be and germany fundamentally does not. germany does not believe the independence of the european central banks should be compromised. it is worried about possible inflation as a result. these are all things that germany is fundamentally opposed to. you will probably have the leaders talking about treaty change also which france accepts is going to have to happen. germany wants to see prof gat nations who don't stick to their budgets punished and have the treat tease amended as such. that's what germany say it is immediate issue is. i don't think at the end of the day here, nina, we're going to have any real answers. we're going to have to wait until december 9th when the eu heads of state meet to really see any progress made on all of those issues, nina. >> one summit seems to run into the next and still we have no clear answers. also germany, for instance, having trouble raising money on the bond markets. that's not a good sign either. diana magnay, many thanks from berlin. andrew? >> the bottom line there is at least another two weeks of uncertainty in the euro markets by the sounds of it. it's been a challenging year for japanese carmakers, but nissan is faring better. its ceo tells us how. let me tell you about a very important phone call i made. when i got my medicare card, i realized i needed an aarp... medicare supplement insurance card, too. medicare is one of the great things about turning 65, but it doesn't cover everything. in fact, it only pays up to 80% of your part b expenses. if you're already on or eligible for medicare, call now to find out how an aarp... medicare supplement insurance plan, insured by unitedhealthcare insurance company, helps cover some of the medical expenses... not paid by medicare part b. that can save you from paying up to thousands of dollars... out of your own pocket. these are the only medicare 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companies. there is one carmaker which is managing better than most. that's nissan. it's being praised for its quick response to the flooding. its latest earnings report beat expectations. japan's number two carmaker already raised its forecast for next year. as of last week, nissan had resumed at least some of its production in thailand. certainly the odds have been stocked against nissan and indeed the japanese auto industry in general. take a look at this share price graph of nissan because it pretty much tells the story. we've got two big troughs here. the first here was the march 11 earthquake and tsunami. the stock recovered only to hit the end of july and the thai floods, pretty choppy trading since then. over the course of the year to date the stock is down 14%. toyota down 26%, honda is down 32%. the carmakers, of course, not dealing with these natural disasters. they're also dealing with financial problems, the strong yen and, of course, the very weak economies in the u.s. and in europe. the ceo of nissan is carlos gone, credited with leading the carmaker through these difficult times. for all the gloom and doom, he tells our anna cora that he's still pretty optimistic about the future. >> in 2011 we had the record number of crisis. unfortunately for us most of them concentrated in japan. the rest of the industry had a good year. the crisis we're talking about, the flood in thailand impacted mainly the japanese industry because this is the second base of manufacturing for the japanese carmakers. obviously the earthquake in japan impacted japanese -- the japanese industry. the strengthening of the yen impact japanese industry. no contradiction between the fact that 2011 already will be a record year for the car industry because most of the other carmakers had a great year with the exception of the japanese carmaker which have been hit by so many crises. i still consider that 2012 will be another record year for the industry because with the exception of europe and the exception of japan, i still think all the other countries will be growing. they may be growing less than we would have hoped for because of the financial turmoil and the budget problems which are now in a certain way creating some kind of vollivity and noncertainty. i still think it's going to be a record year because china will grow, india, the middle east, latin america, even the united states. no matter how this problem of the deficit is going to be ending up, i still think the car industry in the united states will be growing next year. >> you mentioned the thai floods and how it has impacted on japanese carmakers, there is speculation that japanese companies will move out of thailand because of how badly the crisis was handled. is there any truth to that? >> i tell you, we have no intention to move out of thailand. we think we are today obviously conscious of the risk existing in thailand, and we will draw a lot of conclusions about what happened. so there are going to be some counter measures to try to protect us in a case of something like this happening in the future. thailand will continue to be an important manufacturing base for us. >> how long will your production be disrupted in thailand? >> i think we have resumed production not at full capacity, but i think before the end of the year we should normalize production. >> the economic crisis facing the world doesn't seem to look like it will be resolved any time soon. what is your forecast? >> i think, you know, we had so many crises for the last three years that it's going to be difficult to get out of all of this all of a sudden. so i think we're going to continue to have turmoil within the next two to three years for the very simple reason is, i'm just ignoring the possibility of any new natural disaster, of any new man-made kind of turmoil like you know, political turmoil or any aggression somewhere or any war. i'm eliminating all of this. i still think that the problem where the west is going to go through a period of deleveraging, where the government is going to have to reduce their debt, going to have to cut their expenses, is going to have some consequence at least on part of the economy. even though the emerging markets are going to be doing very well, we're going to be facing for the next two to three years some kind of volatility even though the overall economy is going to be growing. >> europe and the united states are facing recession. so you are focusing on the emergency markets and the bric nations. how much growth do you expect to come from those regions. >> for our industry, most of the growth, i wouldn't say all of it because the united states will be growing, i'm absolutely not pessimistic about the u.s. market even though i'm very cautious on europe and very cautious on japan, i'm optimistic on the recovery of the u.s., but all of the growth, if i except the united states, will come from the emerging market. when we talk about 2012 being another record year it's going to be thanks to growth in china, growth in brazil, growth in russia, growth in india, indonesia, the middle east, et cetera. >> very much the emerging markets there, obviously carlos gohsn there. the electric cars are a big platform for nissan as well. he has big hope for the all electric leaf on the market. it's a tough sell in hong kong and it shouldn't be. hong kong is a perfect place, a small place, easy to get around. only 60 sold here in hong kong since its debut despite some very, very generous government subsidies for the leaf, and apparently it's going to take more than choking pollution to change driving habits here in hong kong. rather sad, it's a tough, tough sell for the electric car here. >> might also take plenty of time to try to wean people off of cars that run on petrol and diesel as well. situation we have in many countries including here. many people count on trip adviser for their travel tips. some say that, for instance, trip adviser allows letting guests blackmail them for a vacation they couldn't otherwise afford. trip adviser is firing back. we'll have that next here on "world business today." cocktail and a few nibbles before dinner, that's one way of doing it. that's one of the tourist boats here in hong kong, it takes people out for a tour of the har bon at sundown, very nice it is, too. welcome back. you're watching "world business today." one of the biggest travel review websites in the world is fighting back against allegations of unfair treatment. the british inkeeper in particular says trip adviser wrongly put a red badge on her hotel's review page indicating the hotel had been posting boeing gas self reviews, others saying the review system allows guests to blackmail them for upgrades by posting negative items under their profile. we speak with them about the controversy. >> we wouldn't apply a red badge likely. in every case we encourage the owners to get in contact with us. >> should you have independent adjudication of these situations? would that be something you would look at? >> at this stage i don't think that is something we need to look at. as i said, we won't apply any sort of red badge until there is sufficient evidence to suggest that there is a problem. what's interesting to note as well is only a fraction of a percent of the over a million businesses on the site have penalties applied against them. there's less than 10 on the site at any one time. this isn't something that's prolific. >> but the threat now -- this is interesting. when did you first become aware that hoteliers were saying people are threatening us with bad trip advisors if we don't give them a free meal or an upgrade. >> trip adviser is absolutely against blackmail. >> you are aware of snit. >> absolutely. we encourage every owner and manager that suspects there's going to be a blackmail review posted on their property via blackmail to get in contact with us. we will investigate every opportunity and we will have open dialogue with them. if we find the review is a result of blackmail we will, of course, take it down. >> that was angus juth thinks, the senior director of global communications for trip adviser talking with richard quest on "quest means business." more than 50 million people visit trip adviser's website in every single month, andrew. >> certainly. i visit it. i've put a couple of comments on it as well. it's really interesting. it's such a subjective thing, your opinions and views. unless it's egregiously wrong, a rat in the soup or thing, but a lot of times it's very subjective. let's check the business travelers forecast and see what the latest is in europe as well. let's go to jen delgado, are you a trip adviser? >> i am. you don't have to blackmail me for better weather or bad weather. we give you what you get. you don't have to worry about that here. we're going to start off in europe today. things are fairly quiet right now. if you look on the satellite, in areas atop of italy, an area of low pressure pysing out. let's go to some video coming out of italy, talking in the southern region. this is continue czar row, if i remember correctly, showing flooded streets across the region. they dealt with mudslides as well as landslides. we do know three people died and other people were injured, but this video right here really doesn't even grasp how bad some of the flooding has been through southern parts of italy, also sicily as well. as i take you back over again, for today, only talking a chance for a few showers, mainly over towards the east of the adriatic sea. some rain right now moving through areas including parts of ireland as well as northern ireland as well as scotland, as we go through the next 24 hours, not a lot of rainfall out there, talking about how drought has been affecting parts of europe. we're not going to see any significant rainfall up towards the north or over towards the west. looking across parts of the u.s., the eastern seaboard has cleared out. we're seeing quiet weather conditions, nice for traveling down towards the south as well as the east. let's show you some video actually coming out of the u.s. state of new hampshire. and people digging out of snow. in some parts they actually picked up nearly a foot of snowfall. some of that came down in areas including new york. they have to get the snow off the power lines so things don't get too bad. it looks like areas towards the pacific northwest, they'll be dealing with bad weather today for some traveling if you're a last-minute traveler. back over to you, andrew. there you are. >> thank you very much. you weren't quite sure, were you? >> no, i wasn't. i was waiting for them to tell me. love you both. >> cheers, jen. nina? >> that's it for this edition of "world business today." i'm nina dos santos, cnn london. i'm andrew stephens in hong kong. you're watching cnn. we'll be back a little later this day. we'll see you then. -- captions by vitac -- www.vitac.com 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