egypt's lower house of parliament will convene its first session since the fall of hosni mubarak nearly a year ago. italian officials say search and rescue efforts will continue on the costa concordia but also say the environmental risk is becoming urgent. rescue divers found another body on the cruise ship sunday, bringing the death toll to 13. 19 people are still missing. those are the top stories from cnn, the world's news leader. i'm zain vergee and "world business today" starts now. good morning from cnn london, i'm charles hodson. this is "world business today." top stories on monday the 23rd of january. research in motion's co-ceo steps aside. and greece, are debt talks growing on? and kim dotcom is back in court. the two chief executive officers of research in motion have resigned. the company's share prices scraped lows we haven't seen since 2004 after a series of missteps angered investors. ramy inocencio, our asia business analyst, joins us with the latest. what's been oing gone there and what's the purpose of this move, ramy? >> it's a huge reshuffle, of course, that's in motion forever the maker of the blackberry. rim says this leadership change is effective immediately. so what does that mean? a co-ceo mark lazaridis will become vice chair of rim's board and co-ceo, jim balsille is resigning as well. they'll be behind thorsten heins. he will be ceo and president. he's been with rim since 2007. most recently he had been its chief operating officer taking care of the company's global blackberry smartphone portfolio. he was with siemens before that. he worked with that company for 20 years. he is originally from germany. looking ahead, it's likely most stakeholders will be happy with this change coming in. many analysts say it might be too little too late to turn this company around. its stock has lost 71% of its value since january 1st, 2011, because of major product setbacks. charles? >> that is actually spectacular. tell us, in a bit more detail, what's gone wrong for the company. >> in 2011, critics might say rim's answer to competitors fell short in a number of categories, in quality, availability and profitability. for example, blackberry's operating software has been criticized as being ancient. also as uncompetitive with the software from apple as well as android. rim's answer to that is the blackberry 10. that was supposed to debut earlier this year but that launch has been postponed to the end of the year. also, the blackberry playbook was released last april. it didn't have basic e-mail or a lot of apps. rim had to cut prices to the point where they were hardly making any money off of that at all. because of these setbacks, rim has been losing market share as well as stock price of value. for example, in the u.s., in the third quarter of 2010 rim had a 24% share of the smartphone market there. a sizable hunk there. in the same quarter for 2011 that dropped just down to 9%. also looking at rim's performance over the past five years, it hit its all-time high around the middle of 2008. that's coming in at $147 on june 19. of course, it did take a major hit because of the financial crisis, like most other stock, it did rebound in 2009. but as you can see, didn't recoup any more than about half of its 2000 high and in 2011 it's been on a downhill slide and right now it's just $17 a share. charles? >> thanks, ramy. co-founder of mega upload has been remanded in custody in new zealand. kim dotcom, that really is his name these days, was arrest on charges of piracy, laundering and money racketeering. they're accused of cheating copyright holders out of $500 million. this is what megaupload.com used to look like when it was one of the most popular sites on the web. this is what you'll see if you type in the url today. after u.s. authorities shut down the site. kate lynch has the latest developments. >> reporter: accused of money laundering, racketeering and copyright piracy. lawyers for the king pin and his colleagues came out fighting. >> mr. dotcom emphatically denies any criminal misconduct or wrongdoing and denies the existence of any mega conspiracy as has been alleged. >> reporter: the courtroom was packed with 50 supporters and reporters from america, germany, france and spain, highlighting a worldwide interest in the case. the lawyer representing the united states government argued that kim dotcom posed an extreme flight risk. u.s. authorities believe he has access to large amounts of money, even though there's a freeze on his assets. money, they say, he could use to charter private jets or helicopters to leave the country. >> this kind, there's a significant issue in terms of flight. >> reporter: they said mr. dotcom had a gun nearby when he was arrested at his coatesville mansion. his lawyer said the raid was unnecessarily aggressive and facts had been blown way out of proportion. >> all of this presentation by the crown has emplyfied the nature and gravity of this alleged offending beyond any reality. and in fact, a real misunderstanding and misconception of the business of megaupload. >> reporter: mr. dotcom's lawyer said his klein the would agree to electronic monitoring so he could be with his pregnant wife and three children while he fights to clear his name. the judge has said he'll differ a written decision before wednesday. until then, mr. dotcom and his co-accused remain remanded in custody. kate lynch, one news. if for kim dotcom's gains are found to be ill-gotten, he hasn't been afraid to flaunt them. almost $5 million worth of cars were seized by the new zealand police at his auckland mansion. that by the way is itself is worth about 30 million. there were 15 mercedes-benz alone and the license plates told their own stories. hacker, kimcom, mafia, guilty and god were just a few of the words to feature. money has been spent on business as well as pleasure. you're looking at a live shot of central hong kong. they have a hotel suite valued at $12,000 a day. up next, we'll see what the stock markets are making at a struggle to keep greece from going bankrupt. don't go away. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and keeps it clearer up to 9 months. [ male announcer ] because enbrel suppresses your immune system, it may lower your ability to fight infections. serious, sometimes fatal, events including infections, tuberculosis, lymphoma, other cancers, and nervous system and blood disorders have occurred. before starting enbrel, your doctor should test you for tuberculosis and discuss whether you've been to a region where certain fungal infections are common. don't start enbrel if you have an infection like the flu. tell your doctor if you're prone to infections, have cuts or sores, have had hepatitis b, have been treated for heart failure, or if, while on enbrel, you experience persistent fever, bruising, bleeding, or paleness. if you've had enough, ask your dermatologist about enbrel. as euro zone finance ministers gather in brussels, greece remains a word and not a word they like to pronounce at that. the country's creditors are still at odds with policymakers over trimming that national debt. the plan sounds simple, reducing greece's $450 billion burden. but there are other stake holding parties involved, mainly the international monetary fund and euro zone leaders who want rates on restructured debt to be minimal and ultimately affordable for greece. that might just prove a cut too far. well, let's have a look at what european investors seem to make of it. we're not getting an awfully strong sense out of this. this is how the indices look an hour into monday's trading session. a few doubts are creeping in, certainly as the news about greece sinks in. you can see that particularly on dax. with a few gains to start off with and then going down actually the same sort of patent, really on the cac current, up and down. don't read too much into it because these movements aren't particularly large. meanwhile we've had a quiet trading day in asia where most markets were closed for the lunar new year holiday. india and thailand are winding down trade on monday's session. ongoing uncertainty continues to weigh on investors around the world, it seems. we talk to a senior trader at etx capital. he joins me now here in london. what do you make of what's going on in the markets seem, in a way, given that the noises out of those greece debt talks are not all that positive, the markets seem to be taking it somewhat in their stride. can you explain it? >> absolutely. this has been going on for a fairly long time. the greece issues, charles. the market seems to be adjusting to what has been a new normal, ie, an environment of increasing sovereign debt concerns and low interest rates and especially in an environment of low interest rates, there's very few places for investors to park their money. with money sitting in a bank account, being eroded by inflation, it has to be put somewhere in order to generate a return. you're seeing that money, if not moving to safe haven assets such as the dollar because it's shifting away from the gold, is moving into the equity markets, which is why they're relatively robust in the face of ongoing concerns over sovereign debt. >> it is all driven by liquidity? and people with be if you like, are accepting a slightly higher degree of risk if i read between the lines? >> absolutely. investors are prepared to accept that at the moment. you're also seeing within the global equity market that shift away from defensive sectors to more cyclical sectors, which is why the likes of the banks and the financial companies have been outperforming, compared to the index or other stocks within their group. so you're seeing more risk on attitude towards investing at the moment. >> let's have a look at a particular hypothesis. this is hypothetical. but let me put it to you, if we saw those talks break down or show signs of having to be adjourned amid serious disagreement, not a breakdown but everyone goes their different ways amid disagreement, do you think that will be a strong negative for the markets or do you think the markets will continue to see that as part of the new normal as you put it a moment ago? >> i think it should be a short term negative for the markets. we could see the roop the in equities start to break back down again. for a big sell-off to come through, that doesn't mean that things won't stop back up again, negotiations won't start back up in the very near future. and if equities do take a bit of a tumble with interest rates where they are at the moment, with the lack of alternative investment areas you'll see the relatively strong demand for equities. the corporate, certainly in america have been reported fairly strongly and they do have a large amount of cash on their books at the moment. unlike a lot of sovereign nations. >> let's pick up on that point. clearly we're in the profit season. do you expect that profit season to carry on being relatively good anyway, at least relative to expectations and provide some kind of underpinning for this greater appetite for risk you were describing a moment ago? >> absolutely. i expect the u.s. corporated to continue reporting relatively well. there is the coupling going on with the u.s. and europe. once european reporting season getting under way, i don't expect them to report it fantastically well, q4 earnings. it's likely we'll dip into recession in the very near future as well. money flows on the equity fund do seem to be doing towards the u.s. market. i do see it outperforming beginning forward as well. they seem to have taken the right measures in order to support their company. >> joining me live from etx capital in london. many thanks to you. up next, how record drought is driving up sugar prices. i'll be right back. eipt for that watch you're wearing. you know, you really should provide us with a checklist of documents we're gonna need up front. who do you think i am? quicken loans? at quicken loans, we provide a checklist of the mortgage documents you'll need up front. it helps keep you in the know every step of the way. one more way quicken loans is engineered to amaze. it helps keep you in the know every step of the way. like splenda® essentials™ no calorie sweeteners. this bowl of strawberries is loaded with vitamin c. and now, b vitamins to boot. coffee doesn't have fiber. unless you want it to. splenda® essentials™ are the first and only line of sweeteners with a small boost of fiber, or antioxidants, or b vitamins in every packet. mmm. same great taste with an added "way to go, me" feeling. splenda® essentials™. get more out of what you put in. i understand you need a little help with your mortgage, want to avoid foreclosure. candy? um-- well, you know, you're in luck. we're experts in this sort of thing, mortgage rigamarole, whatnot. why don't we get a contract? who wants a contract? [honks horn] [circus music plays] here you go, pete. thanks, betty. betty: we're out of toner. announcer: if you're facing foreclosure, talk to the right people. speak with hud-approved housing counselors free of charge at... let's have a quick look at the way oil is trading at the moment. brent crude up by roughly a third of a dollar, standing at just over $110 a barrel. welcome back to "world business today." let's have a look and see what happens to that price of oil, petroleum in the coming days after the european union introduced broading sanctions against iran. we are expecting that announcement to be made later today, monday. european sangs are men to the force tehran to give up its nuclear program which western countries anyway fear will be used to develop nuclear weapons. the european union is expected to ban imports of uranium crude, and freeze some of iran's foreign assets. the u.s. and the uk, the united kingdom, have already imposed sanctions on iran. now, one of the worst droughts on record in parts of northern mexico has damaged cane crops and severely hurt sugar exports in the world's sixth largest producer. ivan cabrera is here to tell us more. >> good to see you on the broadcast, charles. haven't seen you in a while. we focus on northern mexico where the sugar crop is important. you need rain for any kind of crop. to be successful here. my goodness, have we not had it across northern mexico. we have been bone dry during the rainy season, the dry season. we're in one of the worst droughts here against northern mexico. we've been talking about the story, not just with the sugar exports but also, it has been impacting the good folks trying to make a living here from any kind of crop. because of the lack of rainfall. of course, this is the same lack of rainfall that's impacted the state of texas as well. let's focus in on the mexican drought and what's been happening as far as the sugar is concerned. the sixth largest sugar producer as you mention, charles, we're talking 99% of that is bought by the united states. this is important stuff here. we're talking now the exports to the u.s., of which they buy 99%, could drop by 40%. we don't see any rain at this point in the forecast. even if it started pouring right now, it's too late. the crop has already been damage. we are on schedule for those kind of numbers. and the reason for all this is this here, october through april, we are in la nina pattern, otherwise known as the diva of drought, right in the jet stream or the storm track lifts well to the north, pacific northwest gets in on all the action and we're left here very dry. it has different impacts all across the world here. but in mexico, they have been left behind, charles, as a result of all the storms going to the north. and not looking good right now for them there. >> let's have a look at brazil, ivan. obviously another major sugar producer. what about the weather conditions down there? how are they interplaying with yields if you'd like? >> the opposite. we'll still talk about la nina here. it's been impacting them in the opposite direction here. we get wetter than normal conditions here across brazil. now, in the region they produce the sugar here, it's further to the south. so la nina not as involved. still, this is an area that we've been talking about again as well from flooding and homes that have been impacted as well. this is a central region here, south central region. that is where we grow the sugar cane there. the impact is not going to be as severe as it is going to be and has been in northern mexico. this is going to be a delay as opposed to a significant damage to the crops. it's looking better here for brazil. charles? >> okay. thank you very much, indeed, ivan cabrera joining us from the international weather center. still ahead, the great and the good are in doublthe swiss . and the occupy wall street won't be too far behind. we'll tell you why they're guaranteeing themselves a rather chilly reception. my name is jill strange, i'm forty-nine years-old, i love gardening, and i love volleyball. i've been taking osteo bi-flex for several years now. i really can't see myself not taking it. osteo bi-flex is a great product. i can go back and do gardening with comfort. [ male announcer ] osteo bi-flex, the glucosamine chondroitin supplement with 5-loxin advanced. shows improvement in joint comfort within 7 days. [ jill strange ] since taking osteo bi-flex, there's nothing that i can't do. [ male announcer ] osteo bi-flex. the #1 doctor and pharmacist recommended brand. but proven technologies allow natural gas producers to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. so, how much do we owe you? that'll be... $973.42. you know, your rates and fees aren't exactly competitive. who do you think i am, quicken loans? [ spokesman ] when you refinance your mortgage with quicken loans, you'll find that our rates and fees are extremely competitive. because the last thing you want is to spend too much on your mortgage. one more way quicken loans is engineered to amaze. man on tv: ...rbis and 36 homers. swings at the first pitch and fouls it deep back into the stands. [ding] [fans whirring] announcer: chill raw and prepared foods promptly. one in 6 americans will get sick from food poisoning this year. check your steps at foodsafety.gov. europe may have a popularity problem outside its borders but euro skeptics have not proved popular within them this weekend. two pro-euro candidates will battle it out. we are joined from our london newsroom to evaluate the result. this seems like the kind of news that ill with be welcome in berlin and paris. >> in the april parliamentary elections, the particle, the true finns who are euro skeptic were even demanding that finland block any kind of future bailouts. they have now only scored about 6% of votes in this election. their leader, who actually made an extraordinary election back in april where he scored four times the votes that he previously had. there were two pro-europeans in the lead to become the finnish president. with these extraordinary talks going on in brussels, i'm sure they're quite relieved that's who they have coming up to become the new president in finland. >> tell us about these two runners and riders we have left in the field and what they're like. are they going to take finland in some kind of new direction? clearly not out of the iuoryu e what about other aspects. >> both have said they want finland to stay in the euro zone. niinisto, currently the finance minister, took finland into the euro zone. they were one of the first countries who joined the euro zone. his opponent now, who is an open gay candidate, is he from the green league, he's a former environment minister. both of them, even though they're pro-europeans, they both said they are going to put a harsh stance on finland when it comes to international negotiations from here forth. as you remember, finlands were the ones demanding collateral for helping out greece for a possible bailout. we will be seeing harsh talks coming up but they're both pro-europeans. what you should also remember, finland may enter a recession this year. the finance ministry said in this coming year they're expecting the economies to grow by only about 0.4%. and in that period, they could go back into recession. finland as well as many other countries, have been hit very hard by the euro zone crisis. >> the interesting thing about finland, of course, the public finance is in very good shape. they've actually managed to weather the storm in a very good way. one of the most interesting things about this, it seems to me, per, is the fact that finns could have been forgiven and that their goodwill was being taken for granted. it is encouraging that they have said, okay, we'll stay in the euro. >> absolutely, absolutely. it's just turned around over the summer, actually, he's raising to this amazing election victory last april and now you've seen the two pro-europeans clearly being the two front-runners. if the third candidate from the center party would become the second candidate you would have seen a much harsher campaigning going forward for the february 5th second round of elections where he would have probably even more emphasized where he thinks finland should go out of the euro zone. but now we'll have to see if niinisto will be the new president of finland. few would argue that europe as a whole could do some kind of big transformation. it won't surprise you to hear that is the theme of the world economic forum's get-together in davos this week. the meeting of minds gets together on wednesday. they will lock horns in the alps and unlocking solutions to the world's economic woes. some speakers may find themselves with a bit of a credibility problem this year. the trust barometer survey by the epr firm edelman spos people around the world are increasingly suspicious of companies, corporate and government executives. a proportion of the respondents said they trusted their leaders, falling to 43% this year from 52% last year. trust in business, 56% for companies last year and this year, we're down to 53%. so edging down very slightly. still a failure to earn the trust of almost half of all the respondents. and the credibility deficit, much worse among chief executives. have a look at this. here's where we were last year, 50%. only one in two said they trusted ceos. let's have a look now. way down. 38%. so actually only a little bit over a third of the respondents in that global survey say they trust ceos. small wonder if you remember that they've occupied wall street, hong kong, countless and other economic hot spots. but it makes perfect sense that the occupy movement has set up its temporary home up there in the swiss alps in davos this week. and as aaron mclaughlin discovered, protesters have found the perfect living quarters for this cold financial climate. >> reporter: the delegates in davos will have a platform of privilege and power from which to deliver their message on the global economy. these occupy protesters will have to bear the cold, many of them huddling in igloos as they try to get their point across. >> what is the key to making a good igloo? you need to make blocks of ice first. >> first you have to cut blocks and they should not be too thick. they should have more or less this size and afterwards you give it to them who is already in the igloo and he put it on the top of the igloo. afterwards it just should be safe, that it won't crash down. >> reporter: you don't want blocks of ice falling on you while you're sleeping. let's check out inside if you don't mind. >> yes, of course. it's a little bit difficult to crawl but -- >> reporter: going inside. >> okay. >> reporter: okay. all right. we're inside the igloo. what normally would you put in here to make everything all cozy and warm at night? >> just put blankets on the bottom. >> reporter: what do you do, reading in here, working? >> no, just sleeping. >> reporter: just sleeping and then you get out in the morning? >> we are not just here to build igloos. we are also here to do -- to have to protest on the streets. we should take the powerback. we don't let the power to the one richest percent. they cannot be the solution to the crisis. they are the crisis. that should be the message or others outside. >> reporter: protesters plan to camp out in the igloos all week. they say braving the cold is worth it to get their message across. erin mclaughlin, cnn, davos. no such thing as bad weather, only inappropriate clothing. if they all have good sleeping bags they should survive that. many fine people have lived permanently in igloos. let's have a look at how the european stock markets are moving now. we're about 90 minutes into monday's trading session. the gains that we saw at the start have faded away with the exception of the london ftse. we're looking at a fall of more than 0.5% for the xetra dax. edging down for the paris cac currant. the spanish central bank is predicting a 1.5% contraction in the country's economy this year. and the central bank does not think things will get much brighter into the future. it is forecasting growth of just 0.2% in 2013. so a very sluggish pickup after what will be a recession in spain this year. now let's have a look at asian stock markets, mostly closed on monday for the lunar new year, including hong kong and shanghai. i should wish people in china a happy new year. and tokyo and sydney, both ended the day with modest losses. thailand's s.e.t. and the sensex are both in their final 90 minutes of trade. we're looking at gains quite decent. for thailand, up 0.5%. a big business story out of india today, ikea has held off from entering the indian market. the company's chief executive told "the financial times" that ikea is concerned about a requirement that would compel it to source 30% of its goods from local smes. now, the move comes as ikea accelerates its expansions in other bric countries. looking ahead to the start of trade in the united states, look out for clues from the central bank and a reading on the strength of the economy. here's what's coming up. the federal reserve will release an interest rate forecast for the next few years. i'm felicia taylor at the new york stock exchange. chairman ben bernanke will lay out the forecast on wednesday after the fed's regularly scheduled monetary policy meeting. the key interest rate has been at a record low since 2008. on the economic calendar, we get the first look at fourth quarter gdp. also out this week, readings on consumer confidence for january as well as durable goods orders and leading economic indicators for december. we'll get a better look at the housing market, numbers for new home sales for december and pending home sales for november will be released. we'll also get a measure on housing prices. it ill with be a big week for earnings reports as well. mcdonald's, boeing, at&t, caterpillar, chevron, johnson & johnson, procter & gamble will post results as well as ford, verizon, nokia will also post outlooks. egyptians are preparing to mark the first anniversary of the revolution that gave them democracy. manufacture the economic problems that led to the overthrow of hosni mubarak still blight the country. we'll be live in cairo, just ahead. sea bass... ♪ ooohhh! ♪ i like it. yeah, i love the kitchen. [ male announcer ] the epa-estimated 42 mpg highway chevy cruze eco. from looking for your perfect home to finding it. chevy runs deep. it's been nearly one year since protests kicked off in egypt and thousands took to the streets of cairo in what they called a day of rage. you may, of course, remember images like these. the country united in calls for the then president hosni mubarak to resign. these scenes were shot days before he did step down. egyptians were angry over the state of the economy and the country's high unemployment rate. there was hope for a new future but rather than significant progress, this past year has somehow highlighted that there's still an awfully long way to go. egypt is facing on the economic front rising inflation, sinking foreign investment, a dropoff in tourism and declining foreign currency reserves. the country's jobless rate is now higher than it was before those upridesings, a quarter of young people, a quarter of egypt's youth are unemployed. government officials say the budget deficit is expected to reach nearly $24 billion by june. that's roughly 8.7% of gdp. and the country's main stock exchange plummeted. the etx 30 is down 38% since january of last year. well, a lot of it really must fall on the shoulders of egypt's new leaders. the recently elected lower house of parliament is convening for its first session right now. ben wedeman joins us from cairo. ben, the economic background to this major political event is dismal, isn't it? it can only be called that. >> reporter: yes, certainly the revolution dealt a real severe blow to the egyptian economy, which before the january 25th, 2011 was actually one of the strongest economies in the middle east, what we've seen, for instance, foreign reserves have been halved and you just have to go around cairo to see the evidence of the downturn. for instance, in the areas where there's a lot of construction or there was a lot of construction, you'll see a lot of idol machinery and workers waiting to be hired. but by and large it simply doesn't happen. with tourism, which is one of the main stays of the egyptian economy, a lot of the, for instance, the boats on the nile are idle. they simply don't have enough people to keep going. a lot of those workers have been laid off. and right now, in fact, the egyptian lower house is meeting for the first time since the revolution. a lower house dominated by islamist parties and, of course, really what their first priority should be is to put the economy back on track to assure foreign investors, for instance, and tourists that egypt is a good place to put their money. the worry, of course, is that with such a large islamist majority in the parliament, that they may focus more on legislation relating to islamic law and not enough on the sort of bread and butter economic issues that will get this economy moving again. charles? >> what about the state of tourism? clearly that's important. a lot of people have been very worried by what they've seen, the images that have come over from egypt in the past year. is there a pickup in tourism now? >> ever so slightly. i mean, if you go out to the pyramids or the egyptian museum, which a year ago were crammed with people, there's just a handful of tourists. there still does seem to be a certain amount of tourism on the red sea, sharm el sheikh, you don't see the number of tourists in cairo. every time television broadcasts dramatic pictures of clashes in the heart of cairo, that probably sends a lot of people going to other, more peaceful destinations. charles? >> yes. tourists have a lot of choices these days. ben wedeman joining us from the banks of the nile in cairo. many thanks to you. coming up on "world business today," the oracle of omaha, warren buffett reveals his artistic side as china welcomes the year of the dragon. get outta the car. get outta the car. ♪ are you ok? the... get in the car. get in the car! [ male announcer ] the epa estimated 42 mpg highway chevy cruze eco. from spending time together, to spending your lives together, chevy runs deep. [oinking] [hissing] [ding] announcer: cook foods to the right temperature using a food thermometer. 3,000 americans will die from food poisoning this year. check your steps at foodsafety.gov. [ male announcer ] when diarrhea hits, kaopectate stops it fast. powerful liquid relief speeds to the source. fast. [ male announcer ] stop the uh-oh fast with kaopectate. welcome back to "world business today." this is how china has been welcoming in the year of the dragon. beginning of the lunar new year is china's most important festival with plenty of celebration, fireworks and dragon dance parades. there are lots of little red envelopes exchanging hands, each one containing money as a gesture of goodwill for the new year. the lunar new year is also being celebrated in asia and beyond. it also looks as if it's sebein celebrated in nebraska. warren buffett showed us why he's better known for his financial skills than his folk singing. stan grant has more. >> reporter: a new year but old worries, money mostly. millions of chinese flocking to traditional temples to pray for good fortune. "our family hopes to buy a car this year but we still need to look at the costs of registration, if we can afford it," this woman says. this is the god of life, death and everything in between. he's also known as the guardian of 18 levels of hell. people pray that he will prevail over the might of the dragon. it is the most powerful symbol in the chinese zodiac and can bring trouble. 1976 was a dragon year and earthquake killed hundreds of thousands of people. china's supreme leader died. 2012 will bring its own challenges. china's juggernaut economy is slowing. president hu jintao begins hanning over power. a water dragon is men the to bring calm after chaos. it happens only once every 60 years. this man is a priest. people come to him to glimpse the future. he likes what he sees. "the dragon year is a year of luck, growth and prosperity," he says "the drag represents the sky and moving up, just like this flag. "if chinese are looking for lucky ohmans, look no further than the oracle of omaha. ♪ billionaire warren buffett helped china see in the year with a song broadcast to an audience of hundreds of millions on china state television. ♪ chinese people hope that in the year of the dragon, they, too, have something to sing about. stan grant, cnn, beijing. >> we never promised you great music on this show. astrology is quite a big deal in many parts of asia and plenty of people are looking to the zodiac to see what the year of the dragon might hold. kristie lu stout spoke to a feng shui master. >> reporter: the new year is traditionally the time for crystal ball gazing. to find out what the future will bring. as this is the chinese new year, we'll cast aside the crystal ball and do it the chinese way. to take us through what the year of the dragon has in store for some of the world's movers and shakers, i'm joined by raymond low, feng shui master. on the chinese zodiac each year correspond as 1 of 12 different animals which is associated with 1 of 5 elements like fire, wood, metal and earth as well as water. all of that can be brought together to be able to tell someone's future. how does that work? >> actually, the chinese calendar is a calendar of element. when we look at a person's berth day, we see the combination of element. this element with the element coming from the year. therefore we can see are they conquering you or supporting you. that's how we tell the fortune. >> let's go through our list here of movers and shakers, find out what's ahead for them. we all know where and when he was born. we've seen his birth certificate. this is u.s. president barack obama. this year is a big one for him. he's seeking re-election. >> yes, that's true. >> what will the year of dragon bring for mr. obama. >> actually mr. obama is an earth person. we define this by his day of birth is earth. earth and water means money. therefore, we expect because of this he will see more money. that means the economy of america will improve. >> do you foresee he'll be re-elected. >> i think so. so far i don't see difficulty. >> i know you're on facebook. you know who this person is, mark zuckerberg. last year was interesting for zuckerberg and facebook. facebook was under fire for privacy policies and users were upset about the changing of the settings and interface. what will the year of the dragon bring to zuckerberg. >> he's an earth person like obama. earth, water moneys money. he's starting his good luck, 20 years of money. >> this is not a person, obviously, but the euro. it does have a birthday, january 1st, 1999. >> yes. >> it's a tiger, like me. >> yes. >> what will the year ahead bring to tiger? >> january 1st was a water day. when water sees water, it's a competitor. competitor we call it sharing the money. it's not a strong sign about the economy aspect of europe. >> very interesting. i hope mr. obama is watching that. well, let's have a look at the european markets. and worries clearly about the lack of progress on those greek debt talks are taking their toll. we did see gains to start off with and we're still seeing them for the london ftse, outside the euro zone. but for the xetra dax in particular, the curve there shows some early gains and it's all been thrown away, off by about two-thirds of a percent and the same patent across the indices. paris marginally down. that's it for this edition of "world business today." we'll see you later, i hope, for the opening bell on wall street. join us then.