13/12/2011 World Business Report

Those are the latest headlines. All eyes are run the Fed chairman, Ben

Bernanke. -- are on. We have World Business Report. This is World

Business Report. The headlines: The Fed will discuss interest rates,

what else will it tell the American public about the economy? The

whistleblower of the island this accounting fraud is back on the

board. -- Olympus. We turn to China and his problem with a skills and

jobs mismatch. -- its problems. America's Central Bank has done

more to explain his policies to the public than ever before. It is

working on a plan to go even further. When it meets on Tuesday,

few expect new moves to be announced. Especially when the US

economy continues to improve. The US economy is putting on a good

show at the moment. The current performance of American shoppers is

driving the recovery at a time of budget cuts and stock market

volatility. This trading company specialises in all things made in

America. It has been open for over one year. The store manager says

business has definitely picked up over the holiday season. I know a

lot of the regular customers in here. Some customers come in here

when they get paid. This man is monitoring shoppers habits closely,

Ben Bernanke, the head of the Federal Reserve. He and his

colleagues are not expected to announce any new moves when they

meet on Tuesday. They will probably keep the downside risk in their

statement. Largely because of the eurozone debt crisis. That is going

to keep them on their toes. Even without Europe's troubles, are

American consumers headed for a come down in the new year? Unless

the jobs market improves substantially, will the spending

dry up when the credit-card bills arrive? We can go to Singapore. You

are going to tell us about the whistleblower, camera maker and the

missing billions? Not necessarily in that order. The whistleblower

will meet with Members of Parliament in Japan to lobby for

reforms in Japanese boardrooms. Michael Woodford is on a mission to

persuade employees that he is the right person to return to his old

job and get the firm back on track. Michael Woodford told the Japanese

magazine that if he got his job back he would push for a US style

system of strong external directors. He faces an uphill task to make a

comeback. The board plans to resign, but not before it takes its Ina

successes. -- own successors. This is good news for Alyn this -- a

Olympus shares. They are up 6%. Things are looking up for this

Japanese company. Thank you. Let's take a look at the skills and jobs

mismatch, in the last decade in China the number of students

leaving university has increased sixfold. There are not enough jobs

for graduates in the main cities. We report from Beijing. They are

among the growing ranks of China's graduates. More than 6 million left

university this year. Despite having degrees, many are left

disappointed when they enter the job market. Much of China's economy

remains in low-paid manufacturing industries. That may change in the

future, but for now the millions of graduates have fierce competition

if they want to find a good job. is stressful trying to find a job

here. You can find a stable job but it does not pay very much. There

are so many graduates every year and not many people are retiring.

It leaves young people with few opportunities. For those prepared

to leave the big cities, there are opportunities to be found. Many

young people want to stay where they studied. Many graduates do not

make the grade. The carried education system encourages local -

- rote learning rather than critical thinking. The ability to

adapt to the fast-moving economy is essential. Growing numbers of

Chinese are attending universities overseas. She hopes to go to the UK

next ear. She believes getting a foreign education will give her an

advantage when she returns back home. Of course I believe I can get

a better job because I have broadened my horizons, I have

accumulated special experience and I have done many things by myself.

In the future the Chinese authorities hope the growing

numbers of graduates will create high-paid industries with high-paid

jobs. Find out, they are falling short of expectations. -- for now.

That was part of our series. You can find out more online. The stock

in Saab has fallen by 19%. It owes money to suppliers and employees.

Unconfirmed reports say the company has received a cash injection from

a Chinese car maker. Shares in Intel tumbled in New York on Monday.

That was after the firm cut its revenue forecast for the third

quarter. Intel was affected by the devastating floods in Thailand were

many of the chips are made. What has been happening in terms of the

financial markets? It is quite a contrast. We saw gains on the

markets yesterday. It is a case of reality sinking in. Fitch rating

have said, the rest -- were responding to the EU summit, they

said it would do little to ease pressure on the struggling

governments. An agreement has been reached, but the devil is in the

detail. The concern is what happens when the deal goes to national