international wonders if they have faced widespread pressure. opposition fighters have also been accused of crimes. meanwhile, sources tell cnn that syrian president bashar al-assad has rejected the latest peace proposal. 28 people are dead following a bus crash in switzerland according to the swiss news agency, 22 children and six adults died when the bus carrying belgian tourists collided with the wall of a tunnel. it happened on the border of italy as the tourists were returning from a ski holiday. those are the headlines from cnn. i'm juanita rajpal. "world business today" starts right now. good morning from cnn london, i'm nina dos santos. and good afternoon from cnn hong kong, i'm andrew stevens. welcome to "world business today." the top stories this wednesday, march 14th. finance stocks lead the gains on wall street as bank stress tests give some investors cause to cheer. china's premiere gives the last speech of his ten-year term. we've got his outlook for the world's second biggest economy. and profits at hong kong's flag carrier, we'll be taking a look at cafe pacific's reversal of for the tune. so europe is stagnating. the brit countries are slowing. just months after a warning of a double dip recession, things are looking better. exporters in asia have been rallying in response. this man, ben bernanke, says he expects moderate growth in the u.s. economy to continue in the months ahead. he's again though steered clear of announcing a third round of kwaun at this timetive easing. he says the fed's benchmark lending rate will stay near zero percent until the end of 2013. his prudence is paying off in other areas as well. you remember that he asked all major american lenders to prove that they could withstand a severe downturn, and of the 19 banks that underwent the so called stress tests, 15 passed muster. that's one more reason for investors to be cheerful, nina, this wednesday. yes. slightly better than the european banking stress test that we saw released four or five months ago. here in europe stock markets have just opened. they're really taking heart from a number of things that ben bernanke was saying but also let's remember that some of these gains are being cautioned by an ongoing rise in the price of oil. let's take a look at the ftse 100. the u.k.'s finance minister is saying that he's moving potentially 100 year bonds. this market isn't doing quite as well as the others but still up by .3. okay. interesting story here, nina. if you look behind me, mixed market. a big boost for regional markets right off the top from ben bernanke's targets. the chinese premiere pouring cold water on the chinese markets as you can see here. first the good news, stronger than expected u.s. retail sales which came out overnight for february. boosting earnings. look for the asian exporters on top of the more bullish markets. the exports led in japan. the nikkei is up by 1.5%. to give you an idea, sony up 5.2% today. nissan, 3.8%. australia also getting a boost from the u.s. outlook. this affects the australian economy since they're such a big producer of global goods in general. take a look at hong kong and china, both markets falling as property markets and raw materials slumps after the premiere said he had no plans to relax measures which are designed to keep a lid on china's bubble prone housing market. just to give you an idea, shanghai up. when we get to wen's comments on no help for the property market in china, property prices still too high, we saw that big tank. that's what happened in hong kong. we got a dip towards the end of the session, nina, following on from what the shanghai markets were doing. certainly no joy from premiere wen for the chinese investment community. yeah, indeed. andrew, let's hone in when we were talking about the bank stress test before. now 15 major u.s. lenders can breathe something of a sigh of relief today as their stress test successes have paved the way for dividend pairs and also share buy backs. all of that is being greeted positively by the investor communities. four other banks, including citigroup, for those guys it's not such a positive picture at all. felecia taylor has told us how they've reacted. >> market soared 100 points on word that jpmorgan not only passed the federal reserve stress test but was increasing ilts dividend by a nickel and a stock buy back of $15 billion. in essence jpmorgan chase almost jumped the gun a little beth. we weren't expecting to hear from the federal reserve and those stress tests. the federal reserve announced the results of those stress tests. what's significant that 15 of the 19 banks did pass the stress test. the banks would have enough capital reserve to be able to understand another recession if, indeed, that were to happen. the criteria for the stress test was very severe with a 13% unemployment rate, a drop of 50% in the stock market, and a 21% drop in the value of housing prices. keep in mind that the stress test was extremely severe in terms of the criteria. so the four that didn't actually pass the test which include citigroup, sun trust, ally financial and met life, not that they're going to be in financial ruin or certainly not in any danger necessarily but didn't meet that 5% or one portion of the criteria of the 5% capital ratios. citigroup has said that it is going to submit a revised capital plan to the federal reserve in hopes that it can meet the criteria that has been put upon it. again, these 15 banks that did pass the federal reserve stress test, very significant in terms of being able to withstand a recession should that happen and not have to go to the u.s. taxpayer to be bailed out or to the federal government. back to you. felecia taylor. the u.s. stock market rallies to close sharply higher as investors welcomed the results. businesses were also cheered by cautiously upbeat statements by the fed. strong retail sales numbers in february also helped to boost to close the dow just over 1.68%. pretty strong start there. it was the best performance for the year on the u.s. markets, nina. yeah. things seem to be getting rosie and rosier when it comes to the u.s. stock markets. it's been a number of times when we've seen the dow up above 13,000. so most u.s. banks seem to be behaving responsibly, at least that is what has been coming out of the federal reserve support on those stress tests. ben bernanke, it seems, nevertheless, isn't taking any chances with the financial system. he's optimistic but he is still sticking to a cautious game plan here. let's remind you what that game plan actually involves. interest rates will be staying at rock bottom lows, near 0% until the end of 2013. a third round of quantitytive easing, often referred to as qe 3 remains off the table. the current stimulus program known as operation twister will stay in place. that encourages lower interest rates at the consumer level by moving billions of dollars off a short term bonds towards longer dated securities. and one more note of caution was sounded, namely that escalating oil prices could in turn eventually drive up inflation. mr. bernanke is more can have debt that core inflation excluding items such as food and energy will stay within the 2% target. all in all, nina, a pretty upbeat assessment for ben bernanke who is known for his cautiousness when it comes to the economy. this is what the futures markets looks like. this is what's expected the market to look like when it opens in five or so hours trading for now. i'm not getting my words out the right order. i'm going to head back to you. i can't do this. >> you're not the only one, andrew. it's early over here in the morning in london. i have more an excuse for that. coming up next on "world business today." we're on the campaign trail in the united states where rick santorum has swept to victory in the states of alabama and mississip mississippi. we'll tell you what it means for the race for the republican nomination. that's next here on cnn. but now, with zyrtec-d®, i have the proven allergy relief of zyrtec®, plus a powerful decongestant. zyrtec-d® lets me breath freer, so i can love the air. [ male announcer ] zyrtec-d®. behind the pharmacy counter. no prescription needed. the sleep number bed. the magic of this bed is that you're sleeping on something that conforms to your individual shape. wow! that feels really good. in less than a minute i can get more support. if you change your mind once you get home you can adjust it. so whatever you feel like, the sleep number bed's going to provide it for you. at our semi-annual sleep sale, save $400 to $700 on our most popular bed sets. plus, free standard shipping - but only through march 18th! only at the sleep number store, where queen mattresses start at just $699 brent crude may be down about 25 cents on the barrel, but it's still trading above 125. welcome back. you're watching "world business today" live on cnn. the republican u.s. presidential hopeful rick santorum has been celebrating a strong showing in the american south. alabama and mississippi held their republican primaries on tuesday. while it was a good night for rick santorum, it wasn't so good for mitt romney. take a look at tuesday's results from the state of alabama where santorum, a former pennsylvania senator, finished first with about 35% of the vote. newt gingrich a southerner who represented georgia in congress came in second with mitt romney third with less than 30%. meanwhile, in neighboring mississippi it was a closer race but still another win for santorum who received about a third of the vote. second again to gingrich and again romney third with about 30%, nina. andrew, the candidates' differences may seem more pronounced than their similarities right now, but there is one thing they can definitely agree on these days. at a time with soaring gas prices and a region that's struggling economically, what they're calling for is more oil production and also fast. rick santorum played to his local audience as he took the podium at the gulf state city of lafayette, louisiana. here's what he had to say. >> we're seeing gas prices at what are projected to be historic highs and yet this president almost put this whole region out of business by -- because of the extreme environmental policies of this administration. and we wanted to be here in lafayette to say to average folks who are struggling right now because of those energy prices, we will put this town and this region back to work so you can go back to work and have a better quality of life. >> trying to keep his faltering campaign alive southern candidate newt gingrich said the need for more oil production wasn't just a southern issue but a national one. >> it now turns out the current estimate is there are 160 times, 16,000%, more oil in north dakota than they thought there was in the 1990s and some experts believe that number is off by a huge margin that future technology will ultimately lead us to find about 500 billion barrels of oil. now i'm not trying to fill you up with numbers, but i'm trying to make a point about a general direction. an american president who believed in energy and an american president who believed in science and technology would drive the price of gasoline below 2 point point $50 and would never bow to a saudi king. >> it was just as telling what mitt romney did not say after his third place finish in both states, romney issued a written statement congratulating rick santorum. romney appears undaubtnted sayi he looked forward continue to creasing our delegate count in a substantial way after tonight. staying in the united states, andrew, the billionaire investor warren buffet's calls for higher taxes on the rich hasn't fallen on deaf ears. we've seen nearly 2/3 support for that buffet tax according to a new reuters poll. the buffet rule says 30% on anyone earning $1 million or more per single year. support for the tax was strongest among democrats. about 76% of them supporting it. 49% of republicans also backed the idea suggesting that tax rises are not off limits so long as they're targeted at the richest americans these days. live from hong kong and london you're watching "world business today." coming up after the short break, china's national people's congress is brought to a close. we'll have an update from beijing as the prime minister speaks to his delegates for the last time. this is "world business today" live on cnn. welcome back. china has wrapped up its national people's congress. that's what passes for parliament in china after ten days of deliberations. around 3,000 delegates gathered in beijing to discuss a range of policies from china's wealth gap to the country's legal system. the premiere, wen jiaabao overseeing his last npc meeting as a leader brought the event to an end. >> reporter: the chinese parliament wrapped up its annual ten day session as a way to better manage the overall economy. the 3,000 delegates voted for measures that would help bridge the wealth gap. china's premiere, wen jiaabao, opened this year's annual congress with a speech that cut the nation's economic growth target to 7.5%. this is wen's last appearance at the national people's congress as premiere. in a three-hour long press briefing wen explained how the new target would benefit the world economy. >> translator: we in china can surely overcome the problem of lack of adequate balance, coordination and sustainability in our economic growth and get the chinese economic growth on the path of quality development. this is a fundamental way is good news for the development of the global economy. >> reporter: the premiere said china would step up its efforts to reform its currency. he said he regretted he didn't do more for his country over the past nine years. premiere wen and other senior members of the communist party are going to step aside later this year to make way for the next generation of china's leaders. it's important just to see wen sitting there, nina, because that is the only really press conference that the chinese leadership does in beijing. it's all fairly organized, of course, but at least he is taking questions from the floor. it was interesting that after nine years wen sort of returning to what had been a bit of a theme of his, talking about political reform in china to protect what he says are the economic break throughs so far. so that will be interesting to see whether or how political reform actually manifests itself under the new leadership. certainly a lot of food for thought coming from beijing today. it certainly will. it'll be interesting to see how the new leader continues with that particular plan of wen jiaabao. let's move on. if we move down under now, four oil fields off of australia's northwest coast have halted production as a tropical psych cloenl called lua intensifies. we'll get the latest from the cnn weather center, ivan. >> wood side petroleum that halted four of the facilities there as far as oil production precautions. this happens often here on this coast when we get these tropical cyclones. indeed, an important industry here. $28 billion a year industry in australia where 58% of primary energy comes from oil and gas and 70% of oil production is actually off of western australia, which is where i'm going to take you now and show you what has been occurring here. look at all the activity across the entire northern coast of australia. this is what we're watching here. that's tropical cyclone lua. it will move away from australia right now. that would be fantastic. that won't continue to be the movement. a system will pull it back in and that's the problem. that's why they've halted production and that's why residents along sparsely populated region here are going to be watching this closely. we do have folks that live here. not a whole lot, but they are there. and they're going to be watching lua as it tries to make a move over the next 48 to 72 hours. expacting land fall anywhere from the early morning hours of saturday through midday saturday. that's our best thinking. that would be local time here in port hedlin. water temperatures very warm which these features like. this will continue to intensify so by the time it does make land fall we are going to be dealing with perhaps a category 2 with winds of upwards of 148 kilometers per hour. a bit of a storm surge to contend with here. if that verifies and also we're going to be dealing with a lot of heavy rain. further to the east we have more action. we're going to continue to monitor this area here for the potential flooding where we have more residents here in darwin. this had the potential to develop into a cyclone. it has run out of room right here. continuing to weaken. the rain is not going anywhere. that's going to continue over the next couple of days. again, the big story will be to the west in lua. we'll keep you updated throughout the week. nina. ivan cabrera, many thanks for that. andrew, with those tropical cyclones putting oil production offline in plates like australia, just another reason for that oil price, especially brent, to stay above $125 a barrel. >> absolutely, nina. just ahead on "world business today," travel in the air, cafe pacific. hong kong's showcase carrier reveals less than showcase earnings. we'll give you all the numbers in just a moment. from cnn hong kong, i'm andrew stevens. and i'm nina dos santos at cnn london. warm welcome back to "world business today." let's take another look at how the european stock market is performing. here's where things stand at the moment. let's take a look at the opening figures because do remember that "world business today" has been starting about an hour earlier than we usually do so we're only 30 minutes into the trading day at the moment. as the picture progresses, take a look at this. we have the etc. dax up to the tune of 2/3 of 1%. one of the reasons why these markets are up is largely due to the strength in the financial future. also the stress tests we saw coming out of the united states where 15 of those major u.s. banks passed those stress tests and that paves the way for them to increase. that's one of the reasons why the market is up. >> that will give a boost in asia, nina. the benchmark doing pretty well in the early going here in asia. there was a sharp turn around in the china markets. hong kong and shanghai both dipg into the red after the chinese premiere wen jiaabao said that he thought property prices in china were still too high and there were no efforts planned to take the recent breaks applied to chinese properties off. that was a sharp turn around in shanghai closing down by 2.5%. hong kong was up by 1.5% finished in the red. nikkei got a boost from the news coming out from ben bernanke and the general mood of optimism from wall street. want to get you upto date on a corporate story. cafe pacific has reported a huge slide. in 2010 it reported record earnings of $1.8 billion. we're joined now. what were the numbers at cafe and what's behind the result? >> cafe said its net profit fell this much, 61% for 2011. it pulled in just over $700 million for the year. it's a huge disappointment especially after that 1.8 billion that you mentioned. the reason for the fall in cafe's profit is the soaring price of fuel. that's not just burning a hole in our pockets but also putting a big squeeze on airlines. cafe was also hurt by a 9% drop in cargo demand in 2011. cargo makes up a good 1/3 of cafe's profits. last year's sluggish global economy meant weaker demands in things like clothes and electronics from here and asia. if we check out cafe's competitors, we can see that hong kong's flag ship carrier is not the only airline whose bottom line is suffering. singapore airline's is down. the flag ship carrier blamed high fuel prices. air china's q 3 net profit fell 26% year on year. the airline blamed both weak demand from overseas travelers as well as fuel prices and also in january japan's all spsz nippon airways said their profits fell 10%. other regional players like kwaun tus as well as united continental saw their earnings drop in their most recent quarters as well. looking at the price of oil, it's pretty easy to see why. the price of brent crude has risen every single year since 2008. in december that year it was just at around here, $38 per barrel. today though it's trading at this much, nearly $126. this year is a surge of more than 228% in just over three years. andrew, i understand we're going to have cathay join us. >> we'll be speaking to john saucer in the next edition and we'll be asking him about that as we head into the uncertain times as far as fuel prices are concerned. nina? andrew, let's stay with the commodities theme here. it's an issue that's got some of the world's biggest trading powers lining up against china. the united states, japan, and also the european union have filed a complaint with the world trade organization and their beef is about beijing's tight restrictions over the export of rare earths. they're a mineral that is needed for cell phones and electric cars. leaders in washington, europe and tokyo are saying china's export laws are hurting their production of these specific types of goods. the u.s. trade representative ron kirk was telling me earlier that china can't justify its export restrictions on environmental grounds alone. >> this has nothing to do with legitimate steps that china may undertake and probably should undertake to make sure that their mining of these materials is done in an environmentally responsible way. we applaud that, but that's not what this is about. this is about china deploying a number of strategies over a period of years to artificially lessen the supply of these rare herbs while making sure they are available in abundant supply to their own manufacturers, and i think you can understand the damaging affect that has on the market, especially when china expressly coveted not to engage in this type of behavior when we admitted them into the world trade organization. >> it's taken china 20 years to corner this particular market because this country now provides about 97% of all rare earth minerals anywhere on the planet. despite claims that it's operating outside of the laws of the world trade organization, one industry expert told cnn that there's another side to the story here. iva shravir says these materials are widely available outside of china and that the u.s. in particular is a victim of its own poor choices. >> there are a total of about 110 million probable, extractible rather earths. he is for getting that 19 million of those are actually in the u.s. the u.s. took a deliberate decision some 20, 25 years ago not to use its own product but to buy the completed product. as a consequence, china has developed a particular skill and expertise in extracting and more importantly refining the rare earth from the rare earth oxides in their separation plants. >> the question is where do we go from here on. china has ten days now to respond to the case that's been brought against it by the u.s., europe and also japan. it must also enter into talks on rare earth exports with other parties over the next two months to come, andrew. still to come on the show, mediterranean beaches, roman ampitheaters all understandable tour ris draws but when you put them in the context of libya, they're a little less enticing. we'll tell you about one country's efforts to relaunch themselves as a political tourist destination. stay with us. and annoying account fees. at e-trade, our free easy-to-use online tools and experienced retirement specialists can help you build a personalized plan. and with our no annual fee iras and a wide range of low cost investments, you can execute the plan you want at a low cost. so meet with us, or go to etrade.com for a great retirement plan with low cost investments. ♪ the sleep number bed. the magic of this bed is that you're sleeping on something that conforms to your individual shape. wow! that feels really good. in less than a 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[click-click] [♪...] welcome back live on "world business today." we're coming to you from hong kong and london. we certainly are, but now we're going to be going somewhere a little bit more exotic, andrew. picture a perfect package holiday and a destination like libya isn't the first one that springs to your mind. a british travel agency is trying to change all of that offering organized tours as the country emerges from its troubles. >> reporter: just a few months ago this was the scene in the heart of the libyan capital. fierce battles for control of moammar gadhafi's compound. today this is the first stop on a seven day tour of libya. for this group of five american, british, and australian travelers. >> nato bombed this. >> reporter: the visit is organized by the condition, political tours, offering trips to places like north korea and the balkans and now for the first time libya. political tours was created by former foreign affairs correspondent nick wood in 2009. >> i thought if you can have history tours, art history tours, music tours, why can't you have serious political tours, the kind of thing that gives you the same access as a journalist to events. >> reporter: the group visits one of the dozens of families who have moved into gadhafi's former compound for free housing. >> what does that feel like? >> reporter: they ask about life before and after the revolution hearing firsthand the hopes and fears of ordinary libyans. >> reporter: despite recent warnings by countries like the united states and the united kingdom against nonessential travel to libya, members of the group still decided to make the trip. >> reporter: some six months after the fall of gadhafi, libya remains unstable. the group travels with a low profile security team and movements are carefully planned. >> this for us is about as difficult as it can get. i mean, we assess things are okay here in libya, but if it got a bit more unstable we wouldn't do it. we're not happy to go where we think there's going to be a serious risk as a westerner or a traveller coming to an area like this where you'd be a target. >> reporter: members of the group like 20-year-old alex langstaff says being in libya at this time of transition has allowed them to live a historic event and go beyond headlines. >> you get a perspective that is second to none and it's not just meeting people and talking to them, there's this kind of wondering aspect about this. you're walking down streets, meeting people outside of shops, hearing about the price of bread, hearing about family in the eastern part of the country. these are things that you couldn't read about in the newspaper. >> reporter: 82-year-old joe rose gilbert has traveled to more than 70 countries since 1986 including recent trips to iraq and afghanistan. she says curiosity to understand other cultures drives her even in the face of danger. for years, she says, libya had been on her list. >> i'm at the age for how much longer can i wait? i'm financially able to do it now. i'm physically able to do it now. do it. i am cautious about what i get into and try to be very careful not to get in a situation where someone's going to have to come out and endanger themselves to get me. >> reporter: for now no one feels they're in danger. the group has received a warm welcome by libyans who are eager and free to tell their stories. cnn tripoli. absent gap years might sound like fun to some, but for these guys, it's a serious business and they're determined to succeed. meet our next two millennials when we come back. so what do you think? basic. at meineke i have options... like oil changes starting at $19.95. my money. my choice. my meineke. welcome back live from cnn hong kong. you're watching "world business today." today we continue with our series on the millennials. yesterday we introduced you to 22-year-old michael burback in new york. a photographer's assistant and an inspiring assistant. mili is a fashion blogger. this week we bring you two more candidates. first of all joe braidwood in london. he's 26 years old and the chief marketing officer for swift key, an award winning app. let's not forget in santiago, chile, david lioter. he's managing director of his own company. they're both part of a new generation that's bent on success but on its own terms though. >> reporter: they are young and confident, educated, and ambitious. born in the 1980s, they are the new generation entering the work force and their thirst for success knows no bounds. meet the millennials. in london 26-year-old joe braidwood chief operating officer for tech swift key. morning has broken. already commuters are hurrying to work. behind them the view is imposing as st. paul's cathedral makes its mark on london's historical landscape. hoping to leave his own stamp is this 26-year-old. >> i'm joe braidwood. >> joe's trajectory has been millennial. out of law force, he's working for sky news. >> i was a young man with not much experience at all coming in and saying, but this is all wrong. we should be doing things, thinking about the instant audience of people that you can communicate with online. i happened to introduce twitter at sky news when i was there. there were a lot of people in the industry who would say, that's just twitter. i don't think this is anything that's going to last. it's just a fad. kind of geeky child obsessed with, you know, new technology. delay the promotion. i wanted to keep you in the loop on that. >> reporter: in the loop and on twitter joe's got all the millennial jargon and he's using it at work promoting and marketing swift key, a tech startup that creates apps using linguistic technology. in other words, predicting what you're going to next. >> what's so great about this company is that it's acknowledged that we're millennials that founded it. we all work together to build something that we don't rest on our laurels but we don't come to the table with any preconceived ideas about what we're going to achieve. >> reporter: there's no doubt this maturitiy will push him to new levels. >> i wouldn't say necessarily that i work harder but i think that more dynamically. >> reporter: it will be his millennial ambition that will take him places. >> thinking ambitiously. >> reporter: as the company grows, joe knows there's a chance they may be bought out. >> i call that the idea of a guide. >> reporter: can he control his own destiny? >> what time can we meet? >> reporter: in santiago chile, meet 27-year-old david lloyd. he's the managing director. santiago, chile. one of latin america's most vibrant economies. a hot bed of entrepreneurship, land of new opportunity. looking to make it here is this young english man. >> i'm david lloyd. i'm 27 and managing director of interlatin america and intern london. >> reporter: starting up a business in chile is not the first big leap this millennial has made. two years ago he quit his job on the trading floor at merrill lynch in london and became his own boss. >> obviously you trade kind of security and financial security for doing something which is potentially kind of a lot more exciting and challenging and that's kind of a balance that you have to -- that i have to make. >> reporter: david took a typically millennial gamble. he spotted an opportunity and ventured to south america where he launched his own company, intern latin america providing students with internships throughout the continent. in no time he was doing press for columbian tv. today it seems his gamble has paid off. david has received a $40,000 grant from startup chile, a government program. >> obviously the money is the thing that stands out, but the reality is that the connections environment and everything in startup chile for me is the benefit. >> reporter: taking the grant means this millennial has everything to prove. >> you do do something off kind of a normal path and you instinctively can feel a bit defensive and you really want the thing to be a success. >> reporter: a simple task for someone who's always been an overachiever. >> how ambitious would you say you are? >> very ambitious. >> reporter: keeping up with his own ambition, now that could be more challenging. >> i've got no interest in kind of doing nothing, being lazy, achieve nothing. it would be very disappointing for me. >> reporter: next week on the millennials. nick's working in a foreign language. david works the salsa floor looking for business opportunities in santiago and working your profile. joe takes us with him to las vegas as he takes on the consumer electronics show. and you can join the conversation on twitter or on facebook. get in touch with us. let us know what you think of our four millennials. do they inspire you or on the other hand make you feel old. the #cnn mills. we have been focusing on the millennials. it's one of those perennials. back to andrew stevens. yes. i didn't quite make the cutoff for the millennial, nina. >> neither did i. >> exactly. this is more of a story for me. the phrase print is dead might be up for debate in some media circles, but one of the best known names in the book world has just been consigned to the past. after 244 years of fascinating facts, encyclopedia britannica is calling time on its print edition to concentrate on the digital app. the school library staple was first published way back in 1768 in edinboro. it has been printed every two years. if you mourn its passing, we'll leave you with one final nugget of knowledge. i bet you didn't know this. in the first edition of the book, whose details we rarely question, homosap ens were divided into five types. the european, asiatic, american, african, and the monstrous. yes, the monstrous. fantastic. i wonder if they -- that was probably before the time that they had landlords that we've had to deal with over the years, nina. >> also probably before the time when they had political correctness from the sounds of that back in 1768, andrew. let's take a look at what's going on in the european stock markets. we're about nearly an hour into the trading day. certainly isn't a monstrous picture out there after what the fed chairman ben bernanke had to say on the other side of the atlantic giving hope for these markets. we also had those 15 banks passing the u.s. stress tests. only four of them falling short. one of the big names on that list of short fallers was citigroup. that hasn't been enough to temper the optimism that we've seen on the markets. we have the fat si 100. >> it's up by .33%. the european market is pushing higher. >> it was very brief for the chinese markets in asia. there was a pop at the beginning of the session as the ben bernanke sentiment came out and wall street closed sharply higher. hong kong and shanghai both ending the day in the red as the chinese premiere warned that there was going to be no short term let up on the squeeze on the property market in china as they take the heat out of property prices. he says property is still too expensive on the main4r57land. that's it for this edition of "world business today." thanks ever so much for joining us. i'm nina dos santos, cnn london. i'm andrew stevens in hong kong. we'll be back joined by ali velshi in a few hours with the opening bell on wall street plus all the very latest from the world of business right around the globe. the globe. we'll see you then. -- captions by vitac -- www.vitac.com