Browse content similar to 27/12/2011. Check below for episodes and series from the same categories and more!
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BBC News. Now for the latest financial news and World Business | :00:06. | :00:16. | |
:00:16. | :00:20. | ||
Report. Welcome to World Business Report. Can the US housing market | :00:20. | :00:26. | |
struck off the gloom of foreclosures? | :00:26. | :00:34. | |
First China, now India. Closer economic links. | :00:34. | :00:44. | |
:00:44. | :00:47. | ||
And what is hot and what is not in technology. We ask the experts. | :00:47. | :00:53. | |
Later today we will get more data on the US housing market. There are | :00:53. | :00:57. | |
signs that American's housing market is starting to improve, but | :00:57. | :01:02. | |
can it last? Since the housing bust many homes have been repossessed | :01:02. | :01:05. | |
and another 8 million are likely to face foreclosure over the next four | :01:05. | :01:14. | |
mac years. We visited one neighbourhood in New York that has | :01:14. | :01:18. | |
been hard hit. In the US more than 6 million homes have been seized by | :01:18. | :01:25. | |
banks since 2006. The suffering has not been shared equally. This house | :01:25. | :01:31. | |
in East New York is the role rather than the exception because the | :01:31. | :01:37. | |
state would have the highest rate of foreclosure in the entire city. | :01:37. | :01:42. | |
Across the road, this property has been seized by the Occupy Wall | :01:42. | :01:50. | |
Street movement. By moving in, they want to draw attention to the | :01:50. | :01:57. | |
plight of homeowners, and the communities they live in. This | :01:57. | :02:01. | |
house has been foreclosed for over three years. It has been illegally | :02:01. | :02:05. | |
used for drug activity and all kinds of illegal activity. | :02:05. | :02:11. | |
increase in crime is not the only side effect. Kids are living at | :02:11. | :02:17. | |
home up longer. The elderly are moving back in with their middle | :02:17. | :02:22. | |
age keeps. You are seeing a different set of household | :02:22. | :02:27. | |
composition. -- middle aged children. For a lot of people, | :02:27. | :02:32. | |
staying in place, or renting right now, makes a lot of sense. Back in | :02:33. | :02:36. | |
East New York, this woman -- this man is pleased with his new | :02:36. | :02:42. | |
neighbours. I love it. Now you have somebody occupying the house that | :02:42. | :02:48. | |
cares about it. They care for the upkeep of the house. The house is | :02:48. | :02:52. | |
no longer NT, but with so many properties still in foreclosure, | :02:53. | :02:57. | |
the year ahead is unlikely to herald an end to the crisis. -- is | :02:58. | :03:04. | |
no longer empty. Following a visit to China, the | :03:04. | :03:08. | |
Japanese prime minister is going till India this Tuesday to hold | :03:08. | :03:12. | |
talks with his Indian counterpart. Let's get more with our | :03:12. | :03:18. | |
correspondent in Singapore. It is expected that the dollar will | :03:18. | :03:24. | |
dominate talks. What are we expecting? That is right. The | :03:24. | :03:29. | |
dollar dominating the talks in quite an unusual way. Japan and | :03:29. | :03:34. | |
India are in the final stages of deciding on a dollar swap agreement. | :03:34. | :03:42. | |
They are expected to reach agreement during the Japanese park | :03:42. | :03:47. | |
-- the Japanese leader's visit this week. They are going to meet | :03:47. | :03:52. | |
tomorrow and it is widely reported that they will agree to a deal up | :03:52. | :03:57. | |
to $10 billion. This means that Tokyo would provide capital when | :03:57. | :04:03. | |
the route he plunges against the US currency. It is all to safeguard | :04:03. | :04:09. | |
against the European debt crisis. - - when the Indian currency plunges. | :04:09. | :04:15. | |
This could hit India's exports. It has already taken a toll on Japan's | :04:15. | :04:20. | |
exports. Doing this might also help Japan as India is quite an | :04:20. | :04:25. | |
important export market for Japan as well. The countries are expected | :04:25. | :04:29. | |
to discuss a whole series of different things. They are | :04:29. | :04:33. | |
discussing a Japanese loan to build a freight railway between New Delhi | :04:33. | :04:43. | |
:04:43. | :04:43. | ||
and Mumbai. Japan and India launched talks in 2010 on a Nuclear | :04:43. | :04:47. | |
Corporation that would allow Tokyo to export some of its nuclear | :04:47. | :04:52. | |
technology to India. But of course the nuclear accident earlier this | :04:52. | :04:59. | |
year has clouded that deal. Thank you very much. | :04:59. | :05:02. | |
The ongoing crisis in the eurozone and sluggish consumer confidence | :05:03. | :05:07. | |
risks sending Britain into recession according to a leading | :05:07. | :05:10. | |
think tank. The Institute for Policy Research says that Britain | :05:10. | :05:15. | |
faces a bleak start to 2012 but suggested any slowdown could be | :05:15. | :05:19. | |
eased by a fall in inflation. That could boost consumer spending power. | :05:19. | :05:23. | |
It has warned the whole eurozone economy could slip back into | :05:23. | :05:26. | |
recession given the need to adopt austerity measures. | :05:26. | :05:31. | |
The worst Nigerian offshore oil spilled been more than one decade | :05:31. | :05:38. | |
has been contained. Officials say an investigation into how the still | :05:38. | :05:48. | |
:05:48. | :05:50. | ||
happened is still ongoing. Saudi Arabia has posted an $81.6 | :05:50. | :05:57. | |
billion budget surplus for 2011. Revenues for the oil rich company | :05:57. | :06:02. | |
soared, beating official forecasts. The plans to reduce spending next | :06:02. | :06:11. | |
year. Cuba will expand its small business | :06:11. | :06:15. | |
reforms in 2012 to allow people in a growing number of industries to | :06:15. | :06:18. | |
operate independently. State media reports that private businesses | :06:18. | :06:23. | |
only became legal two years ago, beginning with hairdressers and | :06:23. | :06:27. | |
expanding to many other industries. From the new year the programme | :06:27. | :06:32. | |
will be widened to allow people working in carpentry and others to | :06:32. | :06:38. | |
set up firms. It has been the year when the | :06:38. | :06:41. | |
smartphone ownership doubled and the social networks were used to | :06:41. | :06:45. | |
organise revolutions and riots. We have seen electronic readers take | :06:45. | :06:50. | |
off, threatening the future of the printed book, and a video game make | :06:50. | :06:54. | |
more money more rapidly than any Hollywood movie. We look back at | :06:54. | :07:02. | |
the technology of 2011. London's Olympic Park, where everyone will | :07:02. | :07:09. | |
be looking in 2012. It is a good place to ask to top internet users | :07:09. | :07:17. | |
to ask how technology has changed. First, gadgets. It has been the | :07:17. | :07:23. | |
year of the portable screen. The iPad, the Kindle, the smartphone. | :07:23. | :07:28. | |
have been bowled over by the size of gadgets. Paddlers have gone from | :07:28. | :07:35. | |
the size of the original iPad to something much smaller. Phones are | :07:35. | :07:40. | |
getting larger. We are reading books on wine. The ability to be | :07:40. | :07:47. | |
sitting on it your sofa and just pressing a button and three minutes | :07:47. | :07:52. | |
later is there... We had that there in the past with music. We are | :07:52. | :08:02. | |
:08:02. | :08:04. | ||
It has also been the year when we started to talk to our gadgets. | :08:04. | :08:13. | |
Speech recognition still has its limits. You are an idiot. I respect | :08:13. | :08:20. | |
you. That is nice! I am going to show you some pictures that reflect | :08:20. | :08:24. | |
the technology. It was a year when Blackberry and Sony have to | :08:25. | :08:29. | |
apologise as their services went off line. Social media became a | :08:29. | :08:39. | |
:08:39. | :08:39. | ||
tool for organising everything from revolutions to write. -- to riots. | :08:39. | :08:43. | |
There will be a new form of television, which will be | :08:43. | :08:50. | |
incredibly crisp and clear, a sort of super high-definition. We are | :08:50. | :08:54. | |
looking forward to receiving much faster speeds on our mobile phones | :08:54. | :08:59. | |
when we are out and about. It will not come in next year but possibly | :08:59. | :09:05. | |
in 2013. New ideas continue to change the way we see the world. | :09:05. | :09:11. | |
Predicting the technology winners, though, is as hard as ever. | :09:11. | :09:19. | |
A quick look at the numbers. Asian shares are holding steady. | :09:19. | :09:29. | |
:09:29. | :09:30. | ||
Investors taking to the sideline before US markets open later. | :09:30. | :09:37. |