15/12/2011 World Business Report

the latest headlines. Results of a survey injured and paint a

troubling picture on the country's economic prospects. We now have

World Business Report. This is World Business Report. The

headlines: Global stock markets continued to fall as Japan's top

manufacturers say they fear for the future. The flight from the euro

continues. The black beret blues, a grim third-quarter for the

struggling smart phone maker after its tablet computer flopped. --

Blackberry. It is another day of the global stock markets falling, I

am amhe euro is at its lowest for almost one year. The

Bank of Japan's survey of business confidence has taken a big swing

into negative territory. Much worse than predicted. Japan's top

manufacturers fear a slump in demand from Europe. Let's go to

Singapore. Pessimism reigns? Yes, they are quite worried about what

is happening in Europe and how it will affect demand for goods made

in Japan. They also complained about the strong yen which has

heard exports. Floods in Thailand have also it affected manufacturing.

Sentiment has fallen. There has been a swing into the negative

territory. We had a very unfortunate disaster. Foreign

investors outside the eurozone did not reduce their exposure. They

shifted exposure from German bonds to Italian bonds. What we have seen

over the past couple of weeks, foreign investors, Japanese

investors... The economy will grow by 2.5% in 2012, much stronger than

the forecast for Europe and the US. How are the markets interpreting

this? Not good at all. They are down for a third day in a row. Down

1-2 the sand. -- 1-2%. You might not have heard of this company, but

it is the largest jewellery chain with outlets of over 1,500 in this

part of the world. They will make their debut in Hong Kong and in

Shanghai or on Friday. Let's have a look at the markets. The maker of

Blackberry, they report third- quarter earnings today. They are

going to be grim. Its attempts at a Blackberry computer has been a

flock. -- flop. Can the company keep investors on side? Research in

motion has had a bad year to put it mildly. This might phone market has

end, the Blackberry device has fallen by the wayside. The company

has struggled to respond to a new user interface paradigm. The

priorities have shifted away from a very end with efficient experience.

-- bandwidth. It had a worldwide outrage in October. The response

was seen as too little, too late. We are frustrated with what has

happened over the past year. ventures like the Blackberry

playbook have been disastrous. The ones that did sell were at a big

discount. The company is trying to turn over a new leaf with new

partnerships, a new operating system and a new handset. Research

in motion may not have many more chances. Users everywhere are

getting used to having more devices out there on the market. Research

in motion needs to compete with that much more sophisticated

consumer. The speed of the economic downturn hitting Europe could

become more apparent later. Factory data from Germany may show the

nation's manufacturing industry contracted for a third month in a

row. For the eurozone as a whole, we will get more information. The

International Monetary Fund has released $500 million to Ireland.

It raced Ireland's implementation of widespread austerity measures. -

- is praised. In the US 25% of all teenagers eligible to work cannot

get a job. Even those with degrees from some of the finest

universities in America are struggling. It is leading some to

start their own opportunities. We go to New York. Instead of sending

out resume his, these two took the largest gamble of their lives. They

scraped together every penny they could, $10,000 to set up this shop

that sells portable shoes that fog up into a woman's purse. With the

economy stalling, they figured they had nothing to lose. Opportunity

cost a pretty low at the moment. Not a lot of jobs out there.

fact, the recession gave them the Porsche they needed. I think the

economy was a blessing in disguise. -- push. This maybe the best way to

make ends meet. It is about creating something that has the

ability to sustain you, your family and others. Chocolate was not the

first choice of career for this young man and his partner. It

turned out delicious nonetheless. Since starting the business in late

2009 they have sold over $1 million of chocolate. They now employ

between 8-9 people. When we set out we were not looking to create jobs

for others. We were looking to trade a job for ourselves. As they

Drage jobs it is not their own pay cheque they worry about. -- create

jobs. Young people are making their own opportunities. They hope this