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CNN International: France's Budget Crisis Threatens Spillover Into Europe; Bangkok Hosts First CNN Global Perspectives in Asia; Bank of America Fined $1.2 Billion Over Money Laundering Violations. Aired 4:30-5a ET

Aired October 14, 2026 - 04:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[04:30:00]

SHAHIN VALLEE, SENIOR ASSOCIATE FELLOW, EUROPE CENTER, DGAP: Well, the reality is that over the last few years, France has been an outlier with a relatively large fiscal deficit, larger than most Euro area countries. And I think, so long as interest rates were low and that the growth was, you know -- you know, standard by European standards, I think you know financial markets could ignore the consequences on debt dynamics.

We're now at a situation where the marginal cost of borrowing has increased sharply, and debt has slowed down. So, we have what economists call R minus G. The difference between the cost of borrowing and the difference between our growth rates is now such that with this sort of nominal deficit, we have an exploding debt trajectory.

And so, I think it's not something that has occurred over the last year, but it's something that has built up over the last decade, and which is now coming home to roost largely because of external factors, the fact that global interest rates are moving, but this is affecting us more than other countries because we have a more precarious fiscal position, and so I think that is demanding a national conversation around what kind of long-term fiscal consolidation plan France must put together, and that's a conversation that's very difficult to have in general, but even more difficult to have just a few months before an election.

CHRISTINA MACFARLANE, CNN ANCHOR: All right, still to come. We'll go live to Thailand for CNN Global Perspectives in Bangkok, where global leaders are discussing a wide range of topics, including A.I., climate change, and the economy. Plus, a massive fine for the second largest bank in the U.S. What's behind the penalty against Bank of America, just ahead.

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MACFARLANE: Welcome back. I'm Christina Macfarlane in London. While in Bangkok, the first CNN Global Perspectives in Asia is in full swing. The one-day Live event is bringing together dignitaries, visionaries, and leaders from across business, technology, and culture, with conversations being led by CNN journalists, and our Hanako Montgomery is one of those journalists who's joining me now live from Bangkok. Hanako, good to see you. This is really an exciting event happening for the first time in Asia. Just walk us through what all this is about.

HANAKO MONTGOMERY, CNN CORRESPONDENT: Yeah, Christina. So, as you said, it's the first CNN Global Perspectives live event in Asia, and today, I mean, we've heard from so many different panelists from the economy, from the A.I. boom, from technology, and also soft power and culture. And we've had so many different cultural thinkers, cultural leaders from around the region talking about things that really are relevant to Asia as a continent.

And as you know, Christina, I mean, Asia is an extremely diverse place. It's home to about 60 percent of the entire world's population, but it is comprised of so many different countries, so many different ethnicities, religion. But really, bringing everybody together into one room to talk about some of the biggest issues facing us today is truly remarkable, and again, it's only the second Global Perspectives event that CNN has done live.

So, of course, you know naturally there are some things that we're learning along the way here. But really, it's been such an inspiring day to hear from our wonderful speakers and also to be able to work with so many talented colleagues from around the region, Christina.

MACFARLANE: Yeah, we're a talented bunch, aren't we? I mean, in terms of what you're learning, Hanako, I understand you hosted a geopolitics and culture panel today. What were the highlights from that?

MONTGOMERY: Yeah, Christina. So, for some of the panels that I've done today, I mean, I've talked about the democratization of wealth in the age of A.I., which of course is a really, really huge issue and one that, of course, has so many different angles to discuss about. But then some of my other panels veered toward soft power, veered toward more of the cultural discussions that we're having in the region, and as you mentioned, one of them was about food as -- as a soft power.

And I got to sit down with the Celebrity Chef Gaggan Anand, who is of Indian descent, but he's been working in Thailand for more than two decades. I actually had the privilege of visiting his restaurant earlier this week and actually getting to experience some of the things that he does. He's actually very well known for not only being a chef but also an entertainer. So, what he likes to do throughout his meal is kind of sing and dance, make sure people have fun.

But we had such an enlightening conversation about why food was so important, how food has such deep, deep ties to who we are, based on the country that we're from, based on the ethnicity that we are. Take a take a listen to what Chef Gaggan Anand had to say.

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GAGGAN ANAND, OWNER AND EXECUTIVE CHEF, GAGGAN: And especially being born, brought up in Asia and raised in very, very normal family, we used to cook for survive. So, my memory comes from my mother converting a potato into a mashed potato or a curry, and memory translates a lot a culture.

You go to a land, you learn the culture, you memorize the culture in your head, and you come back and recreate it. We -- I think, I'm not educated. I'm just a cook, but I've traveled from Chile to South Africa to every part of the world, from Australia to Japan and anywhere. And wherever I've been, only thing I've understood is the culture, and food is the strongest culture we have. And those memories that come back to me, I bring this culture back to my home, to my kitchen, to recreate something from that memory, and I think that is human.

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MONTGOMERY: And Christina, just to bring you back to Thailand, I mean, the country is very well known for exporting food as a soft power, right? I mean, as you know, you can get a Pad Thai pretty much anywhere in the world, and that was a very deliberate government initiative that was actually rolled out in 2001-2002.

So again, I mean, just food as -- as a soft power, as a form of self- expression, clearly, Chef Gaggan Anand had a lot to say about it, and he is a very entertaining man. So again, just a wonderful conversation, and we're not done yet. Actually, we have a few more panels left to wrap up the first CNN Global Perspectives live event in Asia. Back to you, Christina.

MACFARLANE: And we will be bringing our viewers more of it here on CNN. That sounded like a fascinating conversation, Hanako. Thank you so much for bringing us the update there from Bangkok, and we've got much more from Thailand. Throughout the day, our team will be speaking with political and industry leaders about the big issues shaping international business, policy, and economic development.

[04:40:00]

Now, OpenAI says one of its employees, now a former employee, was arrested after allegedly hiding what's been called a sophisticated recording device in a company office. The U.S. Justice Department identified the man as 35-year-old -- 35-year-old Saudi national and says the device was found plugged into a TV inside a conference room.

OpenAI says the device could monitor audio and had advanced encryption, and similar listening devices were found in his backpack. The company says there's no evidence any sensitive material was inappropriately accessed. The suspect is in federal custody.

The U.S. Treasury Department is hitting Bank of America with a more than $1.2 billion fine. It's accusing the U.S.'s second largest bank of violating anti-money laundering and sanctions laws. The Treasury Department said the bank failed to mitigate and report quote, priority national security risks and says it's sending a clear message that even the biggest financial institutions are not above the law. Bank of America says it's working with regulators to reach penalty

resolutions and has quote, invested billions of dollars in technology and dedicated thousands of employees to combat financial crime.

Officials in Georgia investigate the death of a man ejected from a roller coaster. What we know about this tragedy, just ahead.

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MACFARLANE: We're learning more about the man who died after falling from a roller coaster just outside Atlanta, Georgia. His name was Hassan Jihad Ibn Kariem, and he was a cherished member of an Atlanta charter school. He served as a technology teacher, robotics coach, and IT manager. The school district says he will be deeply missed. CNN's Isabel Rosales walks us through the tragedy.

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ISABEL ROSALES, CNN CORRESPONDENT: We have a name, and now also we have a face. 42-year-old Hassan Jihad Ibn Kariem. Cobb County Police found him just under the ride here, Goliath, unresponsive and not breathing. They say that Kariem was ejected from the ride and struck other riders before falling. CNN spoke with one witness, CiCi Nelson, who said her stomach dropped when she saw the car returning back onto the platform with an empty seat and riders in hysterics.

A different witness told WXIA, a CNN affiliate, that Kariem hit the car three different times before then falling onto the roof of one of these haunted houses. A different witness also telling our affiliates that the picture posted up on the roller coaster actually captured Kariem's last moments. Here's what a mom who saw the chaotic aftermath witnessed.

UNIDENTIFIED FEMALE: Two of my children had just been on that ride, maybe 20 minutes before. Whenever you go to amusement parks, whenever you get in a car, whenever you live your life, it's always subject to risk. So, you just never know when something's going to happen.

ROSALES: And CNN heard back from the Swiss roller coaster manufacturer behind Goliath, Bolliger and Mabillard, who say that they are investigating the incident. We had a roller coaster safety expert also weigh in, saying that this company has a stellar safety record. But notably, this ride, Goliath, does not have a secondary restraint system if the first one fails.

Again, we don't know what was behind Kariem's death. If this was mechanical human error, why it is that he came out of his restraint and fell to his death? We know that the Insurance Commissioner's Office here in George is investigating the Cobb County Police and also the maker of Goliath.

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MACFARLANE: Now a judge has sentenced Duane Davis to 40 years to life in prison for the 1996, murder of Tupac Shakur. A former gang leader was convicted of first-degree murder with a deadly weapon. CNN's Nick Watt has the latest.

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NICK WATT, CNN CORRESPONDENT: Duane Davis, A.K.A. Keffe D., the only person ever charged with the murder of Tupac has been found guilty and now sentenced 40 years to life in prison. He is 63 years old. Now, the judge asked Keffe D if he had anything to say before sentencing. Yeah, he did. Take a listen.

DUANE DAVIS, CHARGED WITH THE MURDER OF TUPAC SHAKUR: I just want my stuff back, they took out my house. Just want all my stuff back. All of them pictures that -- that (inaudible). Give them to my daughters.

UNIDENTIFIED FEMALE: OK. Anything else?

DAVIS: Just all my stuff -- what?

UNIDENTIFIED FEMALE: Anything else you want to say?

DAVIS: No, I'm good. I'm going to appeal this case for sure.

WATT: The court also heard from Tupac Shakur's stepbrother, who said, Throw the book at Keffe D. I want the maximum sentence possible. And also, they heard from Tupac's sister. She described -- she was his younger sister. She described Tupac helping raise his siblings as he was growing up, and that when he found fame and fortune, he would finance a bunch of families who didn't have enough money.

She said, he was a great man, born an idol, and she said he was 25 when he died. Imagine what he could have achieved in life. She mentioned, you know, JFK, Martin Luther King Jr., Malcolm X, what they achieved in life, and she said, imagine what Tupac could have achieved. Many more good works, she says. Also, perhaps he could have entered government. Take a listen to a little bit of what she had to say.

SEKYIWA SET SHAKUR, TUPAC SHAKUR'S SISTER: We lost something. The whole -- our whole generation lost something huge, September 13, 1996.

WATT: So, no one claims that Keffe D. actually pulled the trigger. He was, prosecutors say, the so-called shot caller. Apparently, after that Tyson fight at the MGM Grand, Tupac and others attacked, beat up Keffe D's nephew, and that is when Keffe D. decided to hunt Tupac down. Four guys got into a Cadillac. They followed the BMW that Keffe D -- that Suge Knight and Tupac were taking to a club.

Keffe D. allegedly handed a weapon into the back seat, and it was Keffe D's nephew, say prosecutors, who actually pulled the trigger. But under Nevada law, Keffe D. ordered the hit. He can and was found guilty of first-degree murder. Now facing 40 years to life. He will, he says, appeal. Back to you.

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MACFARLANE: Thanks to Nick Watt. OK, still to come. One of the world's most iconic bears, Winnie-the-Pooh, turns 100. We'll bring you a report on the honey loving bear's enduring legacy after the break.

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MACFARLANE: Welcome back. Winnie-the-Pooh, the iconic children's character has turned 100. Our Anna Stewart reports on Pooh Bear's legacy and shows us Ashdown Forest, the inspiration for the book setting.

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ANNA STEWART, CNN CORRESPONDENT: Winnie-the-Pooh first floated into bookstores on October 14, 1926, 100 years ago, British author A. A. Milne and illustrator E. H. Shepard introduced Pooh Bear in a collection of short stories about the iconic character and his animal friends, including Piglet and Eeyore.

NEIL REED, OWNER, POOH CORNER MUSEUM, GIFT SHOP AND TEA ROOM: It's now gone on to sell tens and tens of millions of copies around the world. Every generation, it's something that there's fans and families take it with them, and it's so beautiful to see how many families and -- and different generations that have carried on the tradition of bringing Winnie-the-Pooh into their lives.

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STEWART: The stories also feature Christopher Robin, a young boy who Milne modeled and named after his own son and his toy bear. Many of their adventures take place in the fictional 100 Acre Wood, a place inspired by Milne's walks with his son in England's Ashdown Forest. Neil Reed runs a nearby Pooh museum.

REED: The amazing thing is, is Milne works so hard to bring the forest into the book. So, by reading the book, you really get a sense that the Ashdown Forest is part of the story. So, the forest really is the -- the glue of the piece. It's the reason the book exists because it makes sense to allow the characters to have that that freedom of the location.

STEWART: Visitors can now walk through the forest and see sights that inspired Milne, such as Pooh Sticks Bridge, Galleon's Lap, and the Enchanted Place.

REED: And it's such an important thing that we maintain this landscape, and we hope that it's something that people are visiting in another 100 years' time.

STEWART: The story has been a success since its initial release 100 years ago, but Pooh gained a whole new following after Disney acquired the story rights in 1961, turning the character into a worldwide phenomenon and a beloved Disney staple. Anna Stewart, CNN, London.

(END VIDEO CLIP) MACFARLANE: That is a lot of pooh bears, isn't it? Now, NASA's

Perseverance Mars Rover is living up to its name. The U.S. Space Agency announced the six-wheeler has driven farther than any other vehicle ever has on the surface of another planet. It took Perseverance less than six years to break the record set by NASA's Opportunity Rover, which explored Mars for nearly 15 years.

And that is it for us and the team here, this hour. Thank you so much for joining us. I'm Christina Macfarlane in London. Stay tuned. CNN Headline Express is after the break. Thank you.

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