:00:00. > :00:00.checkpoint. Those are the headlines. Now it is
:00:00. > :00:24.time to get the latest financial news. Russia's Davos put on eight
:00:25. > :00:32.brave face, but many top bosses have stayed away. Plus, under cyber
:00:33. > :00:41.attack and under the spotlight. EBay faces probe is in regards to its
:00:42. > :00:46.security practices. Welcome to the programme. We will
:00:47. > :00:52.take a fascinating and exciting snapshot of everything in the world
:00:53. > :00:55.of business and money. It is time to wake up. We are going to talk about
:00:56. > :01:02.Thailand's economy and Kennett shrug off the political turmoil. Let us
:01:03. > :01:07.start with this. Let us start with this man right here. Russia's
:01:08. > :01:12.President Putin will shortly be addressing global business leaders
:01:13. > :01:17.at the Saint Petersburg International economic Forum. It is
:01:18. > :01:21.Russia's version of Davos. It is supposed to promote the country to
:01:22. > :01:24.foreign investors. But with tensions over Ukraine and the resulting
:01:25. > :01:31.sanctions against Moscow, around 30 of the world's top losses have not
:01:32. > :01:37.shown up. It has been rather awkward for Russia, but the real worry is
:01:38. > :01:40.the exodus of money from the country. Let us take a look at some
:01:41. > :01:45.of these numbers. The Russian Foreign Ministry believes investors
:01:46. > :01:50.have pulled out $51 billion in the first three months. Earlier this
:01:51. > :01:58.month the European Central bank had warned that the figure could be as
:01:59. > :02:04.much as $220 billion. It has taken its toll on the currency. Moscow has
:02:05. > :02:15.been desperately trying to prop up its currency. We are in Saint
:02:16. > :02:23.Petersburg for the forum and have this report.
:02:24. > :02:26.America asked some business chiefs to stay and some did, but others
:02:27. > :02:35.said they need to be head to understand the risks. A lot of
:02:36. > :02:41.companies did not send their CEOs. But everybody is present. That is
:02:42. > :02:45.the kind of political statement, not to send the most important people.
:02:46. > :02:51.Nobody doubts Russia is heading into recession, but not everybody was
:02:52. > :02:56.gloomy. It is not the worst economy that is sure. Hopefully by seeing
:02:57. > :03:08.more of small and medium business is growing. For seasoned advisers, one
:03:09. > :03:13.worries about capital flight. Most of the capital is local capital
:03:14. > :03:18.fleeing. There are members of the American chamber that have large
:03:19. > :03:28.investment plans are continuing with them. It is not one way or the
:03:29. > :03:32.other. Until now, the clear message from these forums is that Russia is
:03:33. > :03:39.open to global business. For delegates it is not a boycott or
:03:40. > :03:42.even sanctions. It is about how safe all the billions of dollars they
:03:43. > :03:47.have invested in this economy is. They will be scanning every word the
:03:48. > :03:55.President has to say today very carefully.
:03:56. > :04:01.Let us talk more about this. In particular, the economic impact of
:04:02. > :04:06.the crisis on the European region. Great to have you with us. Let us
:04:07. > :04:15.start with that, the region and the impact. Germany, it has got the
:04:16. > :04:24.biggest stake to lose. We have seen in the trade figures, the biggest
:04:25. > :04:28.amount of exports in the year. Exports actually contracted from
:04:29. > :04:35.growth in the first quarter. We can link that to the crisis? Definitely.
:04:36. > :04:38.It is based on two fronts. The slowing down of China and what is
:04:39. > :04:44.going on in Russia. They have massive treatments to Russia through
:04:45. > :04:54.imports and exports. It is hitting businesses. Talking about this man.
:04:55. > :05:00.I am always curious to know, how much is he prepared to give up,
:05:01. > :05:03.prepared to lose in terms of economic numbers, in terms of
:05:04. > :05:10.economic growth, to continue on the path he is walking? Russia was
:05:11. > :05:18.heading to eat recession anyway. It almost gives them a valid excuse on
:05:19. > :05:23.the election policy. This is the reason why Russia is in recession.
:05:24. > :05:26.But it was there before. It does not give him a valid excuse to justify a
:05:27. > :05:35.recession that was already happening. But he is looking more
:05:36. > :05:41.towards China. It is a long`term view. But hopefully there is more
:05:42. > :05:48.opportunity. We will see the effect is hitting Europe, particularly
:05:49. > :05:55.Germany. The biggest question, what does Germany do? If Russia's focus
:05:56. > :06:02.is to look east, not forget that Europe, but concentrate on the east,
:06:03. > :06:14.and its make up for the amount of money, possibly $220 billion so far
:06:15. > :06:23.taken out, can that be made up? It is about people pulling that money.
:06:24. > :06:31.We have seen that the impact. I think in some way it is just capital
:06:32. > :06:39.flight. It is speculative. I can see the money going back. We had a
:06:40. > :06:46.massive riot in Britain. It could soon be a good time to buy in
:06:47. > :06:51.Russia. We are not going to see any more strong sanctions in Russia. We
:06:52. > :06:55.have seen a lot of resistance on the ground in Europe. Some of the big
:06:56. > :07:05.German companies have said, we do not want these. It is a double`edged
:07:06. > :07:15.sword. It is going to be interesting to watch. We appreciate your time at
:07:16. > :07:26.this hour. Let us turn our attention to eBay. I am sure you know about
:07:27. > :07:32.eBay advising its users to change their passwords after revealing
:07:33. > :07:41.hackers had broken into its personal database. The York's attorney
:07:42. > :07:51.general is demanding the company provide free help to those
:07:52. > :07:56.struggling with identity theft. It has been pursued not just by
:07:57. > :08:00.regulators in New York, but also by three attorney generals from three
:08:01. > :08:04.different states. I have talking about Connecticut, Florida and
:08:05. > :08:07.Illinois. Have all announced investigations into eBay and what
:08:08. > :08:12.happened at the company. Specifically, they are focusing on
:08:13. > :08:15.eBay's measures for securing personal data, the circumstances
:08:16. > :08:25.that led to this breach and how many users were affected. We have heard
:08:26. > :08:31.all sorts of complaints about the security breach, not from the
:08:32. > :08:39.company itself, but from the media. They are still waiting and that is
:08:40. > :08:43.part of the issue. Where I am, the New York attorney general has said
:08:44. > :08:46.that he would like the company to provide free credit monitoring for
:08:47. > :08:56.its customers. The attack is also being investigated by the FBI and by
:08:57. > :09:02.cyber forensics. Back to the top story. The seizure of power in
:09:03. > :09:07.Thailand by the army in that military coup yesterday. Since
:09:08. > :09:11.martial law was declared, foreign investors have pulled some $400
:09:12. > :09:19.million out of the Thai stock market. How is the business world
:09:20. > :09:28.reacting? Linda, you know I was talking about this as the route at
:09:29. > :09:35.`` story. The irony is, we would not often say that a coup would be good
:09:36. > :09:38.news for the economy. It often gets rid of the political stalemate and
:09:39. > :09:44.the possible to think of islands on the streets. Thailand is the
:09:45. > :09:53.unusual. Typically speaking, when you mention martial law, the market
:09:54. > :09:57.reacts really badly. Instability. Thailand is unusual in the sense
:09:58. > :10:04.that this is the 12 coup since the 1930s when the monarchy was
:10:05. > :10:08.abolished as a ruling power. Markets are somewhat used to it. The
:10:09. > :10:14.military has a legal right to intervene. You do see that reaction
:10:15. > :10:22.in terms of the markets feeling stable. The currency is up against
:10:23. > :10:26.the US dollar today. The benchmark index is still slightly down.
:10:27. > :10:35.Foreign investors have pulled their money out of Thai stocks.
:10:36. > :10:39.Significantly around the region, stock markets in Asia are up and up
:10:40. > :10:47.at the highest level since early January for the Feds started
:10:48. > :10:53.tapering. `` before. Nothing is quite as we would expect in terms of
:10:54. > :10:58.market reaction. Still a lot to wait for when the Thai government
:10:59. > :11:03.announces. We will talk to you soon.
:11:04. > :11:19.I will be back shortly to take a look at some of the headlines. Hello
:11:20. > :11:21.again. The US coastguard has