08/09/2011 World Business Report

deal when the allegations emerge. Now it is time for the latest

The headlines: 14 million unemployed and counting.

President's Barack Obama unveils his plans to get Americans back to

work. Italy approved austerity measures.

How can the European Central Bank help growth in the eurozone?

To 2011 has been a record year for rich people in China with the

number of billionaires up 40% from Getting America working again:

President spoke, is to lay out his plan to create jobs. -- President's

Barack Obama. With unemployment at 9% many Americans are unhappy at

the direction of the economy and will be looking for new jobs. Among

the proposals are tax cuts and building programmes.

You may not get it from this crowned by it's the President's

popularity is at a new low, putting him under pressure to get Americans

back to work. His suggestions for helping the economy may not get far.

It depends on what kind of stimulus will be called for. If it is a why

its spending programme it may not get through. Tax cuts have a better

chance. What may the package look like? He is expected to roll out a

$300 billion plan. It'll includes tax credits for companies that hire

new workers as well as funding for infrastructure projects and

assistance for the long-term unemployed.

With 40 million Americans out of work, one training programme in

Georgette is getting a lot of attention. It cuts the cost of

training for businesses while allowing the workers to continue to

receive unemployment cheques. This man has a job at a college because

of the programme. It could soon be rolled out across the country.

decided if I could go and volunteer, and see if it is a fix for me and

them, then there's nothing to lose. The people at this unemployment

centre are a reminder that the great secession of a few years

still has not ended. Without an increase in consumer demands them

may not be jobs for them. Italy has passed new austerity

measures which should cut its deficit by 54 billion euros. That

is $70 billion. 100 protesters tried to force their way through

police barriers and into the Senate. They then marched towards the

private residence of the Prime Minister, stopped only by a massive

deployment of off police. Interest rates they for the

European Central Bank and the Bank of England. Both are expected to

leave interest rates on hold. The central bank's President is

expected to say it is softening its approach on interest rates and its

approach on growth. I am joined by a senior economic adviser. We are

not expecting any movement on the rates but what will be listening

for? We will be listening for a strong word, an interest in

flagging interest rates over the next few months. We do not and

expect a cut in the next few months but maybe there will be a change of

view in what they will do if things turn for the worse. We were

discussing the fact there would be an interest rate rise by the

European Central Bank in October or November. What has changed? We have

seen the turmoil in financial markets in August. The data has

been on the low sign, in the eurozone and elsewhere in the world.

The ECB has been forced to change its view. In 2008 they increase

interest rates in July but then put them down again. They have to take

account of the facts and adjust their policies accordingly.

likely is a recession in the eurozone? There is a risk. It is

not most likely but there is a risk. Maybe a 30% possibility. That is

based on the fact that confidence has taken a turn for the worse,

both in financial markets and a Monks businesses. We are seeing

orders coming down a lot. We no fiscal restraint is still going on.

Italy is the latest country to put a package together. You mention

credibility and confidence. The lack of leadership has been a

feature throughout this crisis. What can the ECB offer? It has been

flexible in this crisis and has taken measures no-one would have

thought about. They have been proactive. They have been treading

a difficult line between putting pressure on governments so they

keep going with their fiscal reduction and trying to help the

economy by keeping the Monetary Policy as least as possible. We

were told they would consider cutting rates below 1% should the

eurozone go back into recession. Thank you.

Amid the gloom of a euro crisis, there is a bit of good news. 2011

has been a record year for rich people in China. The annual list of

China's riches people contains 200 71 billionaires. That is up 40%.

Forbes is also releasing a list as well?

It just released its list three hours ago. At the top of the list

is a diverse list of people. There is a fair fridge magnet and a

search engine co-founder. Forbes Asia have released their survey of

China's rich less. The number of billionaires on the mainland

continues to rise despite the challenges in the economy and

slowing markets in the US and Europe. The report reveals to

Hunter 71 billionaire's, up from last year. the total wealth of the

richest people on the mainland is close to 500 billion the US dollars.

That is an increase of 10% from 2010. Who is the richest man? His

name is a Liang Wengen. He has a net worth 10 value of $11 billion.

There is also the founder of a beverage company and a search

engine. The three of them have a total net of worth of $30 billion.

You are always happy when he was talking about billionaires. Thank

you. The number of people without a job

with has risen to 5.3%. That is the highest level in one year. The

mining industry is showing signs of flagging. Job cuts have been due to

the strong Australian dollar, which is hurting him pause.

Fashion week kicks off with 99 shows and 16 Branch New designers.

Gold is popular this year. It will apparently have Asian inspired

trends. A French court will issue its

verdicts in a trial in which John Galliano has appeared, accused of

making anti-Semitic remarks. It's led to his sacking.

Now a look at the markets. The Asian markets are up this morning.

We sold Champs gains on the European markets yesterday. There

were bargain-hunters around. Maybe More news from the UK. The

conference of the Welsh/Let's Party began today. -- Welsh nationalist

party. The focus of this conference will be on finding a successor.

The political tide has turned. it is now a Conservative assembly

member who represents this constituency in Cardiff Bay. The

party spent four Mac years in a coalition government. It pledged a

referendum. The party lost ground. Its leader decided it was time to

go and the focus is now one who will succeed him. The thing is not

to panic or reach hasty conclusions. We need to look to the future.

There are inevitable comparisons with Scotland where the SNP has

gone from strength to strength. In Wales, it is at a crossroads and

political commentators say cities decision time. They need to the

less populous and needs to reach out and convey a message with

simplicity. The members come here, having spent the months pondering

what went wrong. Was it's the way their election promise was

delivered? Still ahead: We will have the

Breakfast News. We will be looking at the fresh interest in the works

The headlines: An investigation is getting under way following a plane

crash in Russia, which left 43 people dead. 27 players and nine

officials from a Russian ice hockey team were killed. TRANSLATION: It

is a terrible day. We have lost one of the best teams of Russian hockey,

a team which millions of fans loved. Colonel Gaddafi has this mess as

liars and psychological warfare the speculation he has led to Niger.

The latest debates in the race to become the Republican presidential

candidate has taken place in California. The front runners, Rick

Perry and Mitt Romney, a challenge each other on job-creation.

A verdict is due in the trial of the British fashion designer John

Galliano, accused of making anti- Semitic remarks in a cafe in Paris.

He lost his job when the It is time to have a look at the

newspapers and the headlines from around the world. We start with the