15/09/2011 World Business Report

latest headlines. It is time for the financial news. We have World

Business Report. This is World Business Report. The headlines: Is

Europe heading into recession? Fresh data today should give us

more clues. Can Blackberry survive in the world of mobile computing?

We visit one of China's best known telecom companies. It is good to

have you with us. Is Europe on the brink of another economic downturn?

We should get more clues this morning. A recent poll of a calamus

suggested that the eurozone has a 30% chance of sliding back into

recession. -- economists. With around one in five of jobless

in southern Europe, the continent badly needs a boost in demand for

goods and services. The sovereign debt crisis is only adding to the

benefit used with the OECD growing concerned about the lost generation

of young people who have never worked. Construction sites are idle.

Only a select few employers can commit to take on staff that they

will be stuck with if things worsened towards the winter. Work

seems to be slowing across Europe. The OECD has halved its growth

forecasts for Germany, France and Italy to less than 1% for the

entire year. We know that car makers and banks are among those

industries hoping to shed more jobs. Land power says it has seen most

tiring in Norway, Turkey and Bulgaria. The worst job prospects

are in Greece and Italy. The Swedish defence and security group,

Saab, is bucking the trend. We have had a lot of tough times since 2008.

All of us in the Western world. But all of the time we have grown. We

moral of the story is that we need to work harder. I do not see any

quick solutions. We need to work harder, all of us. The Europeans

enjoying the last rays of summer, the prospects of autumn are not so

summer. The debt crisis resolved? Little signs of that so far. The

markets are being driven by what is going on in Europe. While Europe is

struggling to create jobs China's biggest companies are hiring.

China's largest maker of equipment for the telecom industry are

looking to hire tens of thousands of staff over the next few years.

Business leaders are in China for the World Economic Forum. Tell us

about the plans of this company. This company is based in the south

of China. It is a very ambitious plan to grow internationally. One

of its division chiefs told Reuters that it plans to increase its staff

to 30,000 people in three years' time up from the 10,000 it has now.

The goal is to compete more effectively and go up against Cisco

and Hewlett-Packard. Business is booming. They are expected to make

$4 billion this year. That will double in 2012. This business is

running internet equipment. It is quite well known around the world.

It is known everywhere apart from the US market, it has struggled to

break into. There are a lot of protectionist tendencies against it.

Is this true of other companies? would say that in general the

employment situation in China is much stronger. It is stronger than

in the West and in Europe. It varies according to age group.

There is a huge shortage of factory workers. Unemployment is quite high

because learning is targeted towards rote-learning, a lot of

graduates struggle to find jobs. Thank you. Research in motion

releases its quarterly results after the US stock market closes

today. It has been a tough few months for Blackberry. It has cut

thousands of jobs. Investors hope its new smart phone will help it

rebound. The people in this New York City recruiting Office are

loyal Blackberry uses. They could hold the key to Blackberry's

successful start it -- black beret's success. It integrates

everything. -- Blackberry. The smart phone market is crowded and

ruthless. At the Nasdaq in New York Times Square, shares have lost 50%

of their value since the start of the year. Investors have pummelled

the shares because they are worried about weak sales. They are also

worried about increased competition. In order to survive it is going to

have to release telephones with a new software fast. Research in

motion needs to prove that it can still innovate. It has not kept up.

It needs to. They need to step up their game if they want to survive.

This market place is brutal. Delays in opening up new devices have

opened the doors to Apple and Google to grab the market share.

The company is growing in developing markets. Research in

motion lodged in Malaysia and Indonesia even as it loses market

share to rivals in the US. Investors want to know when the

turn around will happen on the company's home turf. Spain is

holding a debt auction later today. The government is looking to sell 4

billion euros worth of bonds. Spain has been facing rising borrowing

costs on the international money markets. The European Central Bank

has been buying Spanish debt. The Italian government has given final

approval for an austerity plan. Severe Berlusconi says it will cut

deficit by $70 billion. -- Silvio Berlusconi. The jobs plan announced

by Berwick Obama is creating trade friction with Canada. -- Barack

Obama. Let's bring you up to date with what the markets have been

doing over the last 24 hours. Asia's is trading at the moment. It

is a much better picture today than yesterday. We have come off a one

year low for these markets in Asia. A lot of the gains are down to the

strong sentiment coming from Angela Merkel, George Papandreou and

Nicolas Sarkozy, delayed of France. They had their conference call and

came out with a strong statement that Greece will remain in the

eurozone. It will not be a question of a managed default. The markets

are higher on that story. There are a lot of bargains out there to be

had. A lot of stocks have been hammered over the story of the

European debt crisis. Investors looking for bargains in the market.

The euro is also higher today. That is snapping a four-day trend. The

euro is gaining a bit of ground. We see how Europe's trades, markets

start in a couple of hours' time. This is how things went in the US

as well. It is because of the positive news coming out of Europe.

That's all from me. I will see you for a look at the International

newspapers. Let's have a look at some news from

around the UK. �12 billion worth of food ends up in the bin every year

in the UK. Much of that is down to people thinking it has gone off

when it actually has said. The government will release labelling

guidelines which will clear up the confusion. Forget feeding the 5,000,

this team of volunteers will provide food for 35,000. Hard to

believe all of this was destined for the dustbin. Most of the

produce is reaching its best before or used by date. The charity takes

what the shops say they cannot sell and pass it on to people who need

it. The food industry could do a lot more to identify its surpluses.

Let's be grown up about this. It is a huge production line and there

are going to be surpluses. This is the kind of label the government

would like to do away with. That date is purely for the shops, to

help it with stock control. It often concede -- confuses the

consumers. With the best before date you can use your judgement.

You can look at it and smell it. It is up to you. Use your judgement.

Eat it if you feel comfortable. For the use-by date go by what the

manufacturer says. They have a strictly observed labels and cannot

pass on anything that is past its best before date. Demand for their

food is growing. The produce they supply is a tiny proportion of the

edible food thrown out by manufacturers. They could feed so

many more. The headlines: Fears that Greece is about to default on

its debt appears to be comes for now. Financial markets across Asia

have rallied after the leaders of France and Germany insisted Greece

remains a vital member of the eurozone. We go to Athens. There

are protests by hospital workers, rubbish collectors, tax and customs

officials. They are angry at a recent property tax introduced by

the Greek government in order to raise capital. The message from

Angela Merkel and Nicolas Sarkozy of reassuring Greece is unlikely to

wash with ordinary Greeks. Senior political figures from within NATO

are heading to Libya to meet his new leadership. President Sarkozy

will go to Tripoli today to meet the interim leaders. The head of

the National Transitional Council, Mustafa Jalil, says Colonel Gaddafi

is likely to carry out counter- attacks on cities and

infrastructure across the country. Voters in Denmark had to the balls

later for a general election. Opinion polls suggest a tight

contest between the incumbent and a The as Europe scrambles to keep the