Frances newly elected president Emmanuel Macron faces a diplomatic challenge as he meets with russias vladimir putin. But the countries do have deep economic ties. It used to call itself the worlds favourite airline, but with Flight Disruptions entering a third day, few of bas passengers are likely to agree. Welcome to World Business report. Im jamie robertson. In a minute well have Special Report from sri lanka on why the country is selling chunks of its infrastructure back to the country that built them, china. But first, today the new french president Emmanuel Macron will meet with his russian counterpart, vladimir putin. The kremlin was hoping that the meeting would take place under rather different circumstances in the recent French Election campaign, mr putin had voiced his support for the eurosceptic candidate marine le pen, who lost to mr macron. Nonetheless, the relationship between france and russia remains important to both countries. France is russias biggest foreign invest
consumers may have to play more for slacks of beef. meat packers paid record prices jumping 10%. futures are at their most costly in more than two years. why? it s all thanks to the weather. the youth full unemployed may want to go west to seek out their next job. ihs global insight revealed seven of ten states with the fastest job growth will be in the west thanks to housing, technology and tourism strength. walt disney is taking a stand. the company will cut funding to the boy scouts of america in 2015 because of a policy that bans gay adult leaders among its troops. it is expected to be one of the most watched murder trials in history. former olympic star oscar pistorius is accused of killing his model girlfriend. south afrikaans are dubbing it the trial of the century. chapman bell is live outside the courthouse for us. chapman, good morning. reporter: good morning,
finally paying off for them. there are other mayors that hope to share ideas on how to accomplish the same thing. i m joined by philadelphia s michael nutter and san francisco s ed lee. you guys are two of the six largest cities in the country now? six, seven? seven. seven? we ll give you that. mayor nutter, the last couple of years, gatherings of u.s. conference of mayors, have been almost pleased. you guys have come here, congress, stop fighting, we re desperate for infrastructure money, and this year, you re not coming begging? there are always requests and needs. as the clip showed, much more upbeat environment, nationally employment rate continues to come down, certainly in philadelphia. we re seeing the same kind of drop in unemployment. people are feeling a little better. the projected growth by ihs global insight is really music to our ears. but we still have a lot of work to do. and one thing that s going on, mayor lee, and in particular let s look at both of your citi
this, is supporters of extending the benefits say, hey, wait a minute, it does really help gdp. let me quote. can we put it on the screen? let me quote the wall street journal on this. without the money from the emergency unemployment benefits in consumer s hands about .2% would be shaved off, 2% to 2.5% gdp growth that is forecast for the first quarter by ihs global insight. it s their chief economist, paraphrase that. but there s a legitimacy to that, isn t there, doug? there is. you cut out these benefits. you do retard economic growth by, you know, .2% which would be 10% of the overall projected growth rate. you lose potentially 240,000 jobs in the economy because of the slowing down. so, look, there s a good economic reason. at the same time, i m a rational man. you re absolutely right, greg,
game. he carved the grid, loaded it up with l.e.d. lights and you can actually play the game. the pumpkin s stem is the joy stick. tallying up the damage from superstorm sandy, cnbc s jackie deangeles is here with what s moving your money and even the initial numbers are staggering. reporter: that s exactly right. ihs global insight saying the superstorm could end up costing about $20 billion in property damage and $30 billion in lost business and those figures could be elevated when you account for flood damage as well. a lot of people don t have extra insurance for floods. meantime longer term the storm may not pack as much of a punch. some economists are saying slightly lower growth in the coming weeks will be offset by rebuilding and repair as we see a boom later on. keep in mind that some are going to be hurt more than others. for instance, restaurants. say you lost a few days of business, you probably aren t going to see a later benefit, chris. speaking of billions, george