other words more support for struggling eurozone economies but the help comes with strings attached there was far less consensus on other issues though like the proposal for a joint eurozone budget and a plan to secure all eurozone bank deposits also looming over the missing uncertainty over italy spending plans the country s currency revising its draft budgets after the e.u. threatened to finance for violating fiscal rules italy s public debt now stands at more than one hundred thirty percent of g.d.p. that s more than double of what s allowed under e.u. rules another thing that will need to be talked about it s going to do much has you standing by in brussels for a scaled hours and hours of negotiations there but not really much of a result when you say. ben are just full of the joint press conference of lemaire
bonds it would not breach the european union s prohibition against directly financing eurozone economies. the not all news was good, moody s put the european union on notice, its aaa rating is at risk of downgrade. even after moody s changed the outlook on the eu to negative, the euro held its ground, thanks to high hopes a serious plan to tackle the region s debt crisis is about to emerge. elsewhere, val yat pharmaceuticals agreed to buy medicis for $2.6 billion. british airways and iberian owner are looking to buy a stake in american airlines. lufthansa passengers beware, cabin crew say they ll be striking in dispute over pay and conditions. hyundai has reached an agreement with its union workers to end the costliest strike in that company s history.
of a vote in which she s running for a parliament and says she is encouraged by the rising political awareness of the people of myanmar. and audits of apple s largest supplier in china found a long list of workplace violations i including failure to adequately pay for overtime hours and the lack of true union representation, foxconn says it will bring itself into compliance within the next 16 months. much more ahead on cnn. world business today starts right now. good morning to you out there from cnn london, i m nina dos santos. an audit outlines failures at foxconn. so will factory reform there s signal a change for the industry? labor laws are also in the spotlight in spain today. austerity protests turned violent. and a story that s the talk of the town here in corruption-conscious hong kong, billionaire brothers have been arrested into a probe in alleged bribery. just an hour into trading here in europe, and look at the turn of events here, after spending a
attack. one person has been killed by gunfire in daraa. the group says three members of the government s security forces were also killed in clashes with army defectors. business leaders in los angeles is preparing to roll out the red carpet for the man expected to become china s next president. xi jinping arrives in california for a two-day visit hosted by state governor jerry brown. visit will include a tour of the port of los angeles, china shipping terminal, which is undergoing an upgrade as sign of u.s. trade continues to grow. those are the headlines from cnn, the world s news leader. i m monita 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 and you re watching world business today. the top stories this thursday, february 16th. the accounting scandal surrounding olympus escalates. seven arrests are made regarding the billion dollar fraud of the jab
reporting that the materials used in the bombs that went off on tuesday are similar to those that went off in attacks against diplomat diploma diplomats. bangkok says an iranian man threw grenades as he tried to flee only injuring themselves. he is facing criminal charges. the iranian government denies any link to the bombings. china s presumptive leader in waiting says he wants the u.s. and china to work together to find a better trade balance. xi jinping met with president obama in washington. he is expected to succeed hu jintao as china s president next year. world business today starts right now. good morning from cnn london. welcome to world business today. greece gets a slap on the wrist. the government still hasn t done enough to qualify for a new multibillion dollar bailout. the debt crisis dampens s europe s largest economy, germany. france is still expected to grow in the fourth quarter. and why twitter won t be going towards an ipo. supposing you re not