Lets implement what we have done and then we will see. Scotlands alex hammond accuses David Cameron of creating a of fear. They will want to become the singapore of europe would be my bet. And 250,000 a day, yahoo reveals the u. S. Government had threatened massive fines if the company didnt hand over data on users. In the broad expansion of the Government Surveillance Program. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. Welcome to the show. Lets have a look at european markets. As you can see, broadly flat so far. They did edge up earlier in trade at the moment, up just over 0. 07 . Lets look at the individual markets. Whats ultimately taking the wind out of european bourses sails today is news of more sanctions imposed on russia. On top of that, weve had rising treasury yields which markets and investors have had to contend with this week. The ftse 100 up just 10 basis points. Germany down 0. 35 . Cac 40 down 0. 23 and italy flat. Were going to look at the russian markets which perhaps seem to be shrugging off these sanctions. The announcement came from the eu yesterday that the sanctions would take effect today. The dollar is strengthened. The bit against the ruble, carlsberg, down. R rozneft is up 1. 4 and gazprom is up, as well. Treasury yields, 2. 565 . Bonds in germany up over 1 now. And gilt in the uk over 2. 5 . Italy just below 2. 5 . Moving on to currencies, earlier this week weve had significant declines. The yen has fallen 2. 1 this week against the dollar. Its currently trading at 107. 15. That is with the nikkei up significantly. The euro has settled a bit today as has the pound. Both have been weakened in recent days and weeks. Lets check in on markets in asia. Sri jegarajah is in singapore for us. Good to see you, sir. Its fairley patchy in the asian markets as we round off this week and look ahead to the major risk event that is the fomc. So were still very much in the strong dollar environment. Yes, the weaker yen is benefiting the nikkei. Made to run of 16,000. Didnt quite get there. Pretty tough hurdle to cross on the market. Elsewhere, a focus on the democraticer china market. As we head into the weekend, we have a major risk event in the form of data breaking on saturday which includes fixed asset investments, Industrial Production and retail sales for the month of august. The shanghai composite, oddly enough, you would have thought that there was a lot of caution in the Greater China markets. But shanghai is one of the top performers today. Hang seng, though, lagging by about three technical . We get closer to the data deluge over the weekend. Perhaps the shanghai market is running the prospects of more calibrated stimulus. Remember, wilfred, inflation data. The consumer level and the factory was relatively subdued. Thats where we stand right now as we round off the week. Back to you now, sir. Many thanks for that, sri. Were getting flashes that barclays has announced who its current chairman will be. David walker will be replaced by john mcfarland. That will take place after the agm in 2015. So a little time away from that announcement coming out today. The barclays new channel will be John Mcfarlane who is also currently chairman of aviva plc and first group. In the last few hours, the eu has put its latest round of sanctions against russia into effect. It targets the leading members of congress and its largest corporate. Steve is in conceikiev with mor. Weve had a busy past 24 hours speaking with past president s and president s of as well. I put it to him that sanctions could potentially have adverse effects. After a bit of a hiatus, which youll see in the tape, they also asked him about the role of secessionists in a new ukraine and would there be more revolution, whether this is a Sticking Point between russia and ukraine. Lets listen to the tape and well talk about it afterwards. Do sanctions make the situation worse for ukraine given the fact that were in the autumn now and the winter is coming or do u. S. And eu sanctions improve the position of your country . The sanction is underneath to punish russia, this is just an instrument to sit at the table and find out a very important solution not only for ukraine, but for the whole world. And it is very important that introducing the sanctions with the message that European Union and United States are ready immediately to lift it. Its the end of the month. Lift it later. If the key element of the piece what is the key element . Very simple. Three points. Point number one, total withdrawal of the foreign troops from the territories of ukraine. Point number two, close the bottom. Just preventing the supply of new troops, weapons and ammunition. And point number three, Immediate Release of is this status of the region is the you dont see the status of the region in the parliament. Sir, sir, where is my am ka man . Hey, where is my cameraman. Is the major Sticking Point is the major Sticking Point, sir, between russia and indeed ukraine the status of the regions held currently by not at all. Not at all. The major Sticking Point is the independence sovereignty and territory integrity of ukraine. This is the main point. Pet rapport shenco confirming that major pore the major break away is the russian involvement in his country, as well. Its all very well talking about sanctions in the spring when youve got the long summer ahead, but ahead of winter and the grip that russia has on fuel, not only in ukraine, but also within the wider eu where ill reiterate it supplies around 30 of european gas, and you can see that they have a whole different context in this time of year. The russians have is already retaliated on food goods from the eu going into russia and theres talk about automobiles and possibly flight plans for eu lifted flag carriers, as well. Let us not forget this is a dual crisis for ukraine, as well. Its a crisis of economic proportions, as well. We have a gdp seen down 4 for the year. Now seen down as much as 8 for the year. So a lot of issues, both economic and indeed geopolitical still to come, but i suppose we have to look at the bright side, we have a ceasefire in the south of the Country Holding for now. Thanks, steve. That was great. Oscar pistorius was cleared of premeditated murder and murder. The big news still to come today is whether hes convicted of plan slaughter. We have live shots of the trial for you there. Weve had two smaller developments, which is that hes been cleared of a first charge of firing his pistol out of the sun roof of his car, but he has been convicted of illegal use of his gun while in a restaurant. We are still awaiting the big call on whether hes convicked of man slaughter later today. Coming up in todays show, i speak to the ceo of moscow based securities lab on whether he thinks the world is ready for mobile wallet. Carl icahn gets his way with some management changes, but how is the search going for a new ceo . And after the break, we hear from one ceo who says scotland could try to be the singapore of europe. Dont go away. Guys youre not gonna believe this watch this. Sam always gives you the good news in person, bad news in email. Good news fedex has flat rate shipping. Its called fedex one rate. And its affordable. Sounds great. [ cell phone typing ] [ typing continues ] [ whoosh ] [ cell phones buzz, chirp ] and we have to work the weekend. Great. More good news its friday woo [ male announcer ] ship a pak via Fedex Express saver® for as low as 7. 50. Welcome back. Oscar pistorius has been cleared of murder. Weve had another announcement by the judge that declares Oscar Pistorius not guilty of murder. Sorry, correction, ive got that wrong. This is the man slaughter charge hes been cleared on. Murder was yesterday. The South African judge has acquitted Oscar Pistorius of man slaughter. So he was found guilty of firing his gun in a restaurant. But so far, that is the only thing he has been found guilty of. Yesterday, cleared of man slaughter. This morning, those are live pictures you can see of Oscar Pistorius right now. We will keep you updated on that right now as we get more news. A scottish seesaw, thats the latest information shows as momentum shifts back to the no side in the Scottish Referendum debate. The polls narrow significantly with the yes compare narrowing the gap. Support continues to gain transaction from the corporate world with a growing list of firms highlighting the potential breakup of the European Union. Prime minister David Cameron has been accuseded of committing a scare campaign for the businesses. It will be a small margin in favor, but its going to be very small. I think that in a way, and ive said this before, may be the worst result because it introduces a level of uncertainty. For a moment, a yes Campaign Wins and ask you to put a slightly different hat on. Lets face it, you never know where your clients are coming from. How are the newly independent scotland market itself . Even if theres a yes vote then currency becomes critical. Who is the lender of last resort . Will the bank of england still be the lender of last resort . Its a very complex situation. I think the very interesting thing it raises, what is scottish Foreign Relations going to look like . You know, the chinese, im sure, will be interested in investing in scottland. And maybe even other countries, too. So interesting in that respect and raises a lot of Foreign Policy issues that i dont think people have sort of started to examine. But the approach from a sort of marketing point of view, trade investment point of view i think would mirror singapore so far survi surviving mr. Salange, who is a wonderful politician. But as was said, politics is different than government. So well see. Our uk Business Editor helia joins me on set now. Helia, as we go into the final week of xaping, how significant is it that all these visitors have put their vote behind the final campaign . I think it is a big deal. Its been a campaign that essentially has failed because they had this massive lead in the polls which has been squandered. And most of the debate was centered on this currency issue. You cant have the pound, were not going to give you the pound. Well, that hasnt gone down very well with scottish voters. What weve seen in the last few days is suddenly, not just the International Markets waking up and worrying about scotland and the effects of the uk economy, but also back seats. Because the one thing business doesnt like is instability. That includes risk and thats not a good thing. So we have had news that the banks, whether its lloyds, rbs, theyre all going to headquarter outside of scotland. That could lead to jobs being lost. We have comments from lloyds, from citigroup, essentially its going to have a bigger resonance with voters, this simple message that if you have an independent scotland and you have the two years of instability, its definitely going to lead to an increase in prices and thats something consumers can relate to easily. So a week of shock and awe, that those polls feel very, very tight. And i want to talk about those polls in particular and how theyve narrowed. Another individual, Neal Ferguson was speaking yesterday. Hes very much in the no camp, but hes very critical of how the no campaign has been run. Whatever the result next week, how much credibility has David Cameron lost . Oh, massive amounts. People are talking about whether its going to lead to his resignation. There was a shadow cast over the whole policy, whether giving scotland the reaction or the choice with the referendum that he should have. So thats a big deal, i think, the campaign. And weve also just heard this morning, of course, that barclays is changing its chairman from david walker. What is your reaction to that . Well, i was having a chat with some very senior people with barclays and on the board. I can they think this is a firm happened. This is going to be positively welcomed from shareholders. Barclays is a bank that has been mired in a lot of controversy. So it still has many years potentially to steer out of this. And the comments that i got was he was a pretty resolute kind of character and hes going to help this team which by and large could be seen as an experience. I also spoke to a key shareholder in the bank and they were pleased to remember that weve had news that potential candidates have been rejected in terms of taking back chairmanship. He understands banks. Because of that avivas experience, he has experience with regulators and thats going to be very important for barclays going forward. With barclays in particular, its going through a lot of changes itself. If there was a yes vote, can they steal the market share . I think you would see that in that case. But that was possibly if he look at the share price for lloyds, banks have outperformed the other banks by a country mile, actually. Barclays, mean wile, has underperformed the banks. So barclays for many analysts think its cheap. Insiders will tell you yes, there is a possibility in the separation even getting people down from london is going to create some kind of shock. But this is good news. This is a good day for barclays. So i think theyll be pleased. Helia, thank you very much for joining us there. Well be back with helia later in the show. Were going to update you on the Oscar Pistorius trial again. Im afraid earlier we got that wrong on the culpable homicide call. He has now been found guilty of culpable homicide. Yesterday he was cleared of murder and this mortgage in the last couple of minutes, he has been found guilty of, quote, culpable homicide. Those are live pictures youre looking at at the moment from the judge and Oscar Pistorius has been found guilty of culpable homicide. Earlier this morning, he was found guilty of illegally using his gun in a restaurant, but clearly of using it while in his car. The Significant Development, then, this morning that he has been found guilty of culpable homicide. Helia, is this largely as were expecting, still found guilty of a very significant crime . I think what people are talking about in terms of this trial is that its a trial that is being provided over by a judge and the decision that we had yesterday was a very legalese decision and may be different to one a jury would have come up with. Even during the trial, the judge was saying that Oscar Pistorius, i dont think that your story is credible. Its not believable. However, the prosecution hasnt managed to prove that your story isnt correct. That would have come to a huge shock to reef ya steenkamps family. There was a lot of question about whether there was a sensitivity about a black judge ruling on a white case. That was debated yesterday. But today, i think what will be interesting is the sentence. If he has been found guilty of this second charge and the firearm, how many years of jail will that incur . Helia, thank you very much. Im just going to recap everything related to the Oscar Pistorius trial. Yesterday he was cleared of murder. Then earlier today, he was cleared of using his gun while in his car. He was convicted of a second similar accusation of using his gun while in a restaurant. But the most Significant Development so far today is that has been convicted of, quote, culpable homicide. Pistorius has taken that relatively passively today compared to what we saw yesterday. So convicted of culpable homicide. Now lets get back out to steve who is looking at the latest round of eu sanctions against russia. Jeffrey piatt joins us here on cnbc. Thank you very much for joining us, as well. The eu has announced more sanctions. The u. S. Said it will follow soon. Can you tell us what those sanctions will look like . These will focus 09 sectors of energy, finance and defense, a clear signal to russia that we are continued to carry the price were going to do to jointly with our european partners. So sanctions havent worked so far. Many would say why are they going to work now . Were getting to the stage of the year are the russians have quite a grip on the Energy Supplies especially. We believe the sanctions, in fact, have helped to create breathing space for ukraine. Theyve deterred some of the more ambitious and aggressive plans that russia had in mind. We work jointly with our european partners. We want to steer russia to a diplomatic experience to this crisis. So far, we havent seen enough from moscow to sdpaurt implementing that framework. So senator mccain of arizona, we know he is one of the more strident hawks and critics of the obama administration. He said theyre young conscript, ukrainians are getting slaughtered in the east, as well, because were not giving them intelligent, body armor or anything at the moment. Is the u. S. Going to move to the Ukrainian Army . We are doing more. We welcome the engagement senator ukraine has had here and were up to about 70 million in Security Sector assistance to ukraine, to the army, to the border guard, to the militias and were going to continue to identify opportunities to help build the capacity of the ukrainians to defend themselves. But this crisis doesnt have a military solution. Sir, is the view of the United States that the current ceasefire which is tenuous, is the view of the u. S. That it has a chance of being sustained, this ceasefire . Its the best opportunity weve had to stop the incredible violence thats taken such a toll on the ukrainian people, largely because of the actions of russia. Were going to do everything we can to support president poroshenko, but were also going to stand with the ukrainian people. I spoke