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US senators threaten Russia with trade sanctions after Moscow gives asylum to the fugitive whistle-blower Edward Snowden. Also, Italy's former Prime Minister Silvio Berlusconi will have to take his punishment after being convicted of fraud, but will that bring down the government? And a former top Wall Street trader is judged by a court to have been a swindler who cost investors more than a billion dollars.

We are joined by two guests on opposite sides of the Pacific: Tony Nash of the consultancy IHS in Singapore, and Alexander Ljung, co-founder and head of Soundcloud in San Francisco.