treed. jacob zuma will try to convince moammar gadhafi of peace talks. his rival and another fifa executive have been temporarily -- a coalition commander has offered his sincerest apologies for an air strike on saturday that he says killed nine people in afghanistan. and earlier toll according to afghan and nato forces was 14. hamid karzai condemned the strike. those are the headlines. "world business today" starts right now. good morning from cnn london. >> good afternoon from cnn hong kong. you're watching "world business today." here are our top stories for this monday, may 30th. fifa boss is cleared and ready to run for re-election unopposed after two other executive members were suspended for alleged bribery. the euro remains under pressure as greece's bailout plan falters. it's a dream job for the man in the driving seat, a ferrari. we'll take you to the luxury car maker's italian hq. let's check on european stock markets. they've been open now for about an hour. not all of them because both london and american markets are closed on monday. the suspicion is we'll be seeing some fairly thin trading. and in that thin trading in paris and zurich you're seeing gains. one theme actually that we are seeing for german stocks is the fact that the german government has now decided to close all nuclear power plants in germany by 2022. so that is weighing on german energy stocks. we're also seeing a slight selloff for gold after it hit, what, 1536 last month. really the overbearing story here is not so much euro weakness, though that is a factor as well. actually we are seeing a fair bit of dollar weakness as well. sterling there 1.6464. analysts say we could well see the pound breakthrough 1.65 and go well above that in the next few days or in the next few sessions. japanese yen, 80.81, andrew. >> charles, here in the asia pacific, the story still revolves around shanghai, down again today for an eighth con sective session. the hong kong market managed to finish higher. elsewhere the new zealand dollar has hit a 26-year high against the u.s. dollar. up almost 9% since late february as demand for new zealand produce grows throughout asia. closing numbers now for the markets, the shanghai market finishing down not much. remember, it is eight days in a row now it's lost ground. hong kong up, not by much. australian market down by about a third of 1%. a couple of stocks that investors are paying close attention to this monday, one is honda which was down 1.3% in tokyo. two reasons behind that fall. the first was a nikkei news report. the car marker won't go ahead with the proposed buyback. that came after a weaker than expected forecast on profits. the other reason stemming from canada. hackers there accessing honda customers' personal data. another company no stranger to hacking is, of course, sony. that stock was down more than 2% in tokyo today despite the entertainment giant managing to get its playstation network back up and running throughout much of asia. the company has overseen a phased reintroduction of the service after more than 70 million gamers' details were compromised by hackers last month. they'll send an executive to the u.s. congress this week to testify about that breach. charles? futbal's governing body. by clearing the association's much criticized president and implicating blatte's only rival for the top job, they've done little to enhance their reputation. an executive committee member was due to compete for the presidency this week. but he stood down just hours before his suspension on suspicion of bribing officials to vote in his favor. that just leaving one man standing for wednesday's election and that will still go ahead. >> there's no reason to postpone. the allegations and what has been said against blatter has been cleared. the other candidate withdraw before even the decision of the ethics committee came out. >> fifa will make the necessary changes in order now to avoid -- not to avoid to suspend people, but to make sure the institution has everything in place to stop this from happening again. >> his pitch for the job was based on what he said was his aim to bolster the sport's image through honesty, transparency and accountability. those commodities are in short supply at the moment. as we've been reminded, really quite forcibly, not least by his own fall from grace. >> charles, this is going to get a lot worse before it gets better. the mud slinging has just startered. jack warner who's also been suspe suspended, he's been implicated. he's now also firing all kinds of accusations at blatter. he says blatter is the man who actually needs to be stopped. he has alleged he has an e-mail from the fifa secretary general saying he accuses hamam of wanting to buy fifa just like he bought the world cup. we are talking about serious allegations here going back and for forth. in the last few minutes fifa announced they'll be holding an emergency meeting of the executive committee and president blatter will hold a press conference at 6:00 europe central time. we're in sus intense trying to figure out if the elections are still going to go ahead. >> in theory, they could be stopped. >> the member associations have to vote three quarters against having an election for it to be canceled. >> let's make a working assumption that the election will go ahead because three-quarters is quite some majority to muster at short notice. mr. blatter comes back in for another four year. he's been there for 13 years in which time fifa has become synonymous with corruption. one of the amazing things that he is the last man standing. yet people would say he is in the thick of it. >> charles, what's interesting to -- to analyze here is that fifa is a political organization more than it is a futball organization. this is my observation, but it's also -- in an exclusive interview with cnn this past weekend he said exactly this. futbal needs to be given back to people who know more about the sport, not about politic. let's listen to what he had to say. >> fifa was like the ioc some years ago. i think we are at the end of the -- we are at tend of a system -- the future of this big sport, international company will be owned by people who a are -- not particular people. mr. blatter -- i think fifa has to come back to futbal. >> fascinating to see platini. criticism from right within the palace, as it were. i suppose the question is can the governments be improved? is there the will pour power thn the part of blatter and on the part of other people including some of the stake holders like the corporate sponsors to clean up the stables? >> that's where the pressure has to come from in my view. if blatter stays, even if he wants to remodel and revamp some of the voting processes, statutes, rules that fifa has at the moment, there needs to be pressure from the stop tier sponsors of fifa's main events such as the world cup. a couple sponsors like coca-cola and visa were approached to see what their take was on the ongoing allegation of corruption. they said they're just focusing on the events and brazil, the next world cup in 2014, not on what's going on at the moment. i get a sense they'll wait, sit back, see what happens in the next week. this is a big week for the decisions in the present and future futbal. if nothing seems to have been decided or cleared up or cleaned up we could see more corporate pressure on futbal's world governing body. >> one of the remarkable thing about the beautiful game is all of these things toedon't seem t cloud the horizon of the 2014 world cup. andrew? >> charles, a good point about the sponsors being very conspicuous by their quietness over the allegations. "sports illustrated" senior futbal writer tried to stand for the fifa presidency on an anti-corruption ticket. his memorable motto was, quote, cure the blatter infection. his response to the weekend developments. >> it's an interesting weekend. look at how great barcelona was on the field in the champions league final. you see how great this game can be. at this point, all the world wants is for an organization running it in fifa to be a good organization. and so at this point we'll have to wait and see how that changes and if they're able to change their reputation over the next month with this investigation. if hamam and warner escape without serious punishment, the main takeaway will be this was all just one big political employ by seth blatter. >> grant wahl there. he's not the only individual speculating there may be more to those fifa suspensions than meets the eye. fifa's financing certainly are the source of much intrigue. it is a small organization. it had only 387 employees. as of 2010. but it boasts revenues totallying, would you believe, $4.2 billion. now, that number is revenues over the past four years. i sort of wonder then that stake holders and sports fans alike are demanding for transparency. one area where there's some light, some light, is how much fifa pays itself. let's take a look at the staff salaries over here. you can see there, staff salaries not including benefits totalled more than $251 million over those same four years. about a quarter of a billion dollars. that may look insignificant here compared to the other bigger numbers, but it does mean fifa employees take home an average annual wage of almost $170,000 each. not bad earnings there. the biggest expense for fifa from 2007 to 2010 was the world cup in south africa. that set the association back by some $1.3 billion, as you can see. that's the main expenses going out there. but look how much money was brought in by tv rights. tv broadcast rights for the world cup alone just short of $2.5 billion. that's the sort of sum you'd want to ensure was indeed in safe hands. now, one point to note, sponsors of the world cup bring in more than $1 billion for fifa. take a look at the marketing here. $1.072 billion, to be precise. they aren't directly being critical of the organization at this time as we've just heard from pedro. but the negativity which surrounds the ongoing debate is not good for fifa or good for futbal. charles, i suspect you could call that some understatement at the moment. >> definitely, andrew. let's move on to another thing which is very worrying. that's the nuclear crisis in japan. as i mentioned it's having a ripple effect in germany. coming up, more on a major announcement about germany's nuclear power industry. also ahead, the greek bailout is in the spotlight this week again. what's ahead for greece and for europe. all those stories when we come back. o nourish plus moisturize. active naturals wheat formulas target and help repair damage in just 3 washes. for softer, stronger... ... hair with life. [ female announcer ] nourish plus. only from aveeno. :20011231][vter, stronger... ... hair with life. you were the last to be born in a family of 7 brothers. that's why you had to sleep on the seventh bunk bed and you developed vertigo, and that's why you couldn't become a pilot and you had to study engineering. you patented 367 inventions, but only 3 made it to market. that's why you don't have an apartment on the 16th floor and you have it on the fifth, but that's where you met carmen. with her, you had 3 children. the fourth ended up being a dog. numbers change your life. that's why you should take control of your credit score by paying your bills on time. for more tips, visit numberschangeyourlife.org. welcome back from cnn london and cnn hong kong. you're watching "world business today." here are some of the other top business stories this hour. >> germany's become the first major industrial country with plans to permanently shut down its nuclear power industry. early on monday energy minister explained how his country will close all of its atomic plants within the next 11 years. >> translator: we've come to a decision in the matter of energy policy and the energy transition concerning the shutting down of atomic energy. the decision looks like this. the seven older nuclear power plants that are subject to the moratorium will not go back online. a second group of six nuclear reactors will go offline at the end of 2021 at the latest. and the three most modern, newest nuclear power plants will go offline in 2022 at the latest. >> now, myanmar, one of the world's biggest defense contractors is itself on the defensive against cyber attack. lockheed martin says it's investigating a significant and tenacious attack on its system information network last week. the u.s.-based company says it discovered the threat quickly and fought it off. it says no information on its programs or its customers was compromised. lockheed martin is a supplier of major u.s. weapons stms including stealth fighter jets. speaking of fighting back, public reports say dominique strauss-kahn has assembled a team of high powered lawyers to help him battle sexual assault chargers. the former imf chief is said to have experts in the united states and france. strauss-kahn is under tight surveillance in a manhattan town house while he awaiting his next court appearance next week. he denies attacking a hotel maid in new york city on may 14th. andrew? >> meanwhile, charles, french finance minister is starting a global tour in her bid to succeed strauss-kahn. her campaign to win support will take her to china, india, several african naxs and the middle east. lagarde hopes to overcome potential opposition. >> for whomever does get ahead of the imf, one of their big tasks will be dealing with the long debt crisis. greece very much at the center of that right now. "the financial times" reports european leaders are negotiating a deal for unprecedented outside intervention in greece's economy. that would include international involvement in tax collection and the privatization of state assets in exchange for new bailout loans. we expect the eu and the imf to respond this week to greece's efforts to control its deficit. meanwhile, greek's supposed strict us asterty are getting angrier. for more on the purely economic angle, gupta of ing investment management, what will the ripple effect be if greece defaults? >> the fear for the eu is that the greek default will stem a rise of contagion across all of the other countries. that's the primary reason eu leaders are preventing another complete default scenario. the only way out of this is one of two things. either they keep financing greece and the other countries for a long period of time which is politically very difficult or they take concrete steps where they force greece to take the bitter pill to reform their economy. >> meanwhile, let's not forget ireland transport minister said his country may have to ask for another loan from the eu and imf. he said ireland is unlikely to be able to fund itself in the government bond markets next year. still ahead on "world business today," petrol price controls and peaked environmentalists. india's booming demand for diesel is just ahead. while i've been sneezing from the dust in here, and the pollen outside. but with 24-hour zyrtec®, i get prescription strength relief from my allergy symptoms. it's the brand allergists recommend most. ♪ lilly and i are back on the road again, where we belong. with zyrtec® i can love the air®. [ male announcer ] get up to $6 in savings on zyrtec® products at zyrtectv.com. let's check on crude oil prices. prices are inching up despite a report that the u.s. demand is weakening. they were inching up. now down again. offset by falling supply and wor ris over unrest in libya and bahrain. off by about half a dollar. welcome back to "world business today." >> as crude prices rise so do, of course, the price of petrol. that's certainly the case of india with one exception. price controls there are keeping the cost of diesel fuel low. in new deli diesel is 40% cheaper than gasoline. consumers in india's booming auto markets are flocking to the cheaper fuel. >> reporter: india is motorizing rapidly. last year more than 2.5 million cars were sold here. a 20% increase in sales compared to the year before. businessman depak is adding to the fleet. he's among an increasing number of customers buying diesel powered cars because gasoline prices are shooting up. >> gasoline prices are going up. it's almost double than the diesel prices. >> reporter: the difference is largely because of price controls on diesel. the fuel is widely used in freight transport, agriculture and power generation. industry leaders accept fuel pricing is playing a role. >> i believe the ratio has increased in the last one year at least by 10%. the gap between diesel and petrol is high. i don't think customers should look at only this gap. this gap might narrow down tomorrow. this gap is driving customer to buy diesel driven vehicles. >> reporter: environmentalists fear health risks will rise. >> change in dieselization of cars is really scary. in absolute numbers the diesel car numbers are still lower than gasoline numbers. but what is scary is the rate of growth of the diesel cars. when you compare the emissions, that comes from the diesel car and the toxicity of that emission is seven times higher than petrol gas. >> reporter: environmentalists contend the automobile technology to control emissions isn't as advanced as it should be. but car makers like the indian unit of toyota delivering both gasoline and diesel automobiles disagree. >> as for the technology concerned, we are using one technology in india. we are apart with europe. the diesel engines here is much better than gasoline. europe is highly concerned as environment. so are we today. diesel technology is quite advanced. and much cleaner technology. >> reporter: auto sales in india are expected to double by the end of this decade. last year the government decided to end price controls on petrol. it said it will do the same with diesel but the move might be gradual to minimize the impact on consumers. the cost of fuel a big driver for buyers. cnn, hong kong. where's all the water gone? a dire drought in china with 35 million people affected. we'll bring you the details, next. from the cnn london, i'm charles hobson. >> from cnn hong king, i'm andrew stevens. welcome back. you're watching "world business today." >> let's see what's going on in europe with the markets 90 minutes into the trading day. the answer is not much mainly because the uk and u.s. markets are closed today for public holidays. so paris and zurich flat line at the moment. gains there by the xetra dex. energy stocks are weighing on that market following the news that the government in germany has decided that all nuclear plants in that country are to close by 2022. andrew? >> yeah. here in asia, charles, hong kong the only major market to end on a positive note. it followed those gains on wall street on friday, despite the fact there were some not particularly strong economic numbers coming out of the u.s. japanese investors today -- the nikkei down by about a fifth of 1%. the big story really, though, remaining shanghai. that's eight days in a row now the shanghai composite has fallen. not much. still the trend is firmly down. fears about the state of inflation plus the state of economic growth in china certainly vexing investors. charles? let's turn our attention to the big one. that's wall street where the economy and the labor market are front and center this week. even if those markets are closed for today. alison kosik with a preview. >> monday is a holiday in the u.s. so the stock and bond markets will be closed. but the first week of the month always brings the most important economic reading. i'm alison kosik at the new york stock exchange. investors will be focussed on the may jobs report due out friday. last month unemployment rate edged back up to 9% ending a streak of four straight months of declines. but