Browse content similar to 16/12/2011. Check below for episodes and series from the same categories and more!
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diplomatic cables. The credit rating agency, fit, | :00:21. | :00:27. | |
downgrades six top global banks in the latest warning to the financial | :00:27. | :00:30. | |
industry. Asian markets shrug off this | :00:30. | :00:36. | |
downgrade as investors that will on improving US data. | :00:36. | :00:41. | |
Zynga is poised for the largest internet flotations is Google, | :00:41. | :00:51. | |
:00:51. | :00:53. | ||
valuing the Facebook game publisher at almost $9 billion. | :00:53. | :00:58. | |
Another day and another warning about the potential impact of the | :00:58. | :01:02. | |
eurozone crisis. Late on Thursday, a credit rating agency downgraded | :01:02. | :01:09. | |
six of the world's largest banks. The names involved are a bank of | :01:09. | :01:18. | |
America and Goldman Sachs in the US. Barclay's in the UK, BNP Paribas of | :01:18. | :01:24. | |
France and Germany's Deutsche Bank and Credit-Suisse. The agency says | :01:24. | :01:27. | |
that the complexity of its business models makes it difficult to assess | :01:27. | :01:33. | |
the size of the loss that could rapidly emerge from unexpected | :01:33. | :01:43. | |
events. Markets appeared to be ignoring this. | :01:43. | :01:47. | |
Of course, this is not the first credit rating agency to have done | :01:47. | :01:52. | |
something similar. That is correct. It follows a | :01:52. | :01:57. | |
similar move by Standard and Poor's late last month. One person we | :01:57. | :02:01. | |
spoke to this morning said that investors are increasingly | :02:01. | :02:05. | |
nonreactive to what these rating agencies are doing because there | :02:05. | :02:12. | |
has been a great deal of bad News. Today, Asian markets have been | :02:12. | :02:16. | |
disregarding that. They are also ignoring the Europe's economic | :02:16. | :02:21. | |
problems for once, betting on better-than-expected jobs data from | :02:21. | :02:28. | |
the US. All markets are higher. Not by much but still high and | :02:28. | :02:32. | |
nonetheless. They are ending three days of losses all is a result of | :02:32. | :02:38. | |
the US jobs data, where the unemployment rate hit a 3.5 year | :02:38. | :02:47. | |
role -- low. After 18 years of talks, the World | :02:47. | :02:50. | |
Trade Organisation is expected to announce that Russia is finally | :02:50. | :02:55. | |
free to join the club of trading countries. Subsidies, tariffs and | :02:55. | :03:00. | |
quotas will gradually be removed. Experts predict that the Russian | :03:00. | :03:06. | |
economy could grow by an extra 1.5% per year as a result. But that will | :03:06. | :03:10. | |
leave it open to the cold wind of foreign competition. | :03:10. | :03:16. | |
Ten years after China joined the WTO, these Russian consumers are | :03:16. | :03:21. | |
finally about to experience the joy of free trade. That should mean | :03:21. | :03:26. | |
cheaper merchandise in the shops. Subsidies on everything from | :03:26. | :03:31. | |
agriculture to fuel will gradually be reduced. The idea is that | :03:31. | :03:35. | |
everyone will harvest the benefits eventually. This could permanently | :03:35. | :03:40. | |
changed Russia from an excessive dependence on oil and gas to a more | :03:40. | :03:43. | |
diversified economy with a more competitive service and | :03:43. | :03:47. | |
manufacturing sector. This could be huge. | :03:47. | :03:52. | |
For some, it could be a mixed bag. The Russian car industry was one | :03:52. | :03:56. | |
that fought against membership. It feared that efficient foreign car | :03:56. | :03:59. | |
companies could put them out of business. | :03:59. | :04:03. | |
What about those that want to sell to Russia? | :04:03. | :04:09. | |
This is that the in caviar and believe it or not, it is exported | :04:09. | :04:19. | |
to Russia are but only when Brent Tate allows. -- when the red tape | :04:19. | :04:25. | |
allows. But the other main concern is the issue of corruption. Ikea | :04:25. | :04:29. | |
was one foreign company forced to pay $5 million to get permission to | :04:29. | :04:33. | |
build a shot in Russia. Except in his to the Guardian Tiare may not | :04:33. | :04:40. | |
end such corruption but it could help to change the culture. -- | :04:40. | :04:44. | |
being except it into the World Trade Organisation might not end | :04:44. | :04:48. | |
such corruption but it could help to change the culture. This will | :04:48. | :04:52. | |
hopefully reduce corruption. These are long-term targets and | :04:52. | :04:57. | |
future promises. While the population stands to benefit | :04:57. | :05:01. | |
eventually, inefficient businesses will have to raise their game will | :05:01. | :05:08. | |
suffer widespread pain. It is the largest internet | :05:08. | :05:17. | |
flotation since Google in 2004 and the games design over -- designer, | :05:17. | :05:26. | |
Zynga, is expected to begin trading on the Nasdaq exchange. | :05:26. | :05:29. | |
What does Alec Baldwin have to do with the latest hi-tech share | :05:29. | :05:35. | |
listing? He can tell you how ended de Zynga's games are. He was | :05:35. | :05:41. | |
ejected from a playing for playing one of their games. Zynga is hoping | :05:41. | :05:46. | |
to cash in on the popularity of these and its other titles by | :05:46. | :05:53. | |
selling 100 million shares to the public. Social media is difficult | :05:53. | :05:57. | |
and the video game market is difficult to understand. But that | :05:57. | :06:05. | |
said, as much scepticism ASDA is, this company has five of the top | :06:05. | :06:11. | |
six games on the Facebook platform. They have millions and millions of | :06:11. | :06:15. | |
users. Unlike many recent technological | :06:15. | :06:19. | |
sensations, Zynga actually makes money. | :06:19. | :06:26. | |
On this, his most popular game, you can harvest of virtual crops, feed | :06:26. | :06:29. | |
animals and visit your neighbours. The games themselves are free but | :06:29. | :06:34. | |
people can poachers make believe items using very real money. It is | :06:34. | :06:41. | |
a model that is inspiring others. Sharing his idea was like minders | :06:41. | :06:46. | |
game developers, this man describes his online game where people can | :06:46. | :06:52. | |
upload their drawings and have them fight the drawings of their friends. | :06:52. | :07:00. | |
Zynga is a huge inspiration for me. They have transformed the entire | :07:00. | :07:03. | |
industry. We want to see their business model in terms of what | :07:03. | :07:12. | |
will work and what will not work. Zynga's success may be crowned in | :07:12. | :07:18. | |
an increasingly crowded market. Indonesia is home to the world's | :07:18. | :07:21. | |
fourth largest population of young people but many of them end up | :07:21. | :07:27. | |
surviving on what jobs to make a living. More than 50% of the | :07:27. | :07:34. | |
working employ it is -- of the working population is employed in | :07:34. | :07:44. | |
:07:44. | :07:46. | ||
informal work. Airport town bustling with | :07:46. | :07:56. | |
:07:56. | :07:57. | ||
fishermen, selling their products at dawn. -- a port. For many young | :07:57. | :08:02. | |
people, it is becoming increasingly difficult to find work. This area | :08:02. | :08:06. | |
in Indonesia has a very high school drop out rate. Many young people | :08:06. | :08:16. | |
end up doing odd jobs for going fishing to make ends meet. This is | :08:16. | :08:20. | |
one of the main reasons why this country's economy could fail to | :08:20. | :08:25. | |
meet its potential. This 22-year-old woman is one of | :08:25. | :08:30. | |
the lucky people. She is the proud owner of a mobile phone repair shop. | :08:30. | :08:35. | |
She received help. Her training course was paid for by the | :08:35. | :08:39. | |
International Labour Association. But there is no safety net in the | :08:39. | :08:44. | |
informal sector. She wants to turn her business into a legitimate one. | :08:44. | :08:49. | |
TRANSLATION: If I can, I want to register my business so it becomes | :08:49. | :08:55. | |
legal and I can get a back line. But I do not know how to do that. | :08:55. | :09:00. | |
Close Indonesians never have the opportunity to think that be. This | :09:01. | :09:07. | |
21-year-old had large dreams like so many of his friends. But he did | :09:07. | :09:11. | |
not have the correct qualifications and could not find work. Now he | :09:11. | :09:16. | |
sells magazines on the street, trying to make ends meet. | :09:16. | :09:21. | |
TRANSLATION: I want to find work that fits my skills. I want to get | :09:21. | :09:27. | |
a real dog but I only have a low level qualifications. -- to get a | :09:27. | :09:31. | |
real job. This is an exceptionally young | :09:31. | :09:36. | |
country but the full potential of Indonesia's youth is not being | :09:36. | :09:41. |