Browse content similar to 13/01/2012. Check below for episodes and series from the same categories and more!
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She is Europe and's most popular monarch. | :00:05. | :00:15. | |
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Time for financial news with World Business Report. Welcome to World | :00:15. | :00:22. | |
Business Report. Borrowing costs plunge for Spain and Italy ahead of | :00:22. | :00:30. | |
-- the head of the ECB says policies are paying off. | :00:30. | :00:35. | |
Strone debt is that in market sentiment in a share. | :00:35. | :00:45. | |
:00:45. | :00:47. | ||
The first of the US banks after a growing quota. | :00:48. | :00:52. | |
The President of the European Central Bank might be forgiven for | :00:52. | :00:57. | |
feeling relieved and pleased with himself. Spain was able to sell | :00:57. | :01:03. | |
almost 10 billion euros of bonds. Italy sold 12 billion euros of | :01:03. | :01:09. | |
short-term debt at an interest rate of 2.7%. That is less than half of | :01:09. | :01:19. | |
:01:19. | :01:20. | ||
the six % it had to pay in December. That is part of the ECB's plan to | :01:20. | :01:30. | |
:01:30. | :01:30. | ||
pump money into banks. The policy measures are providing a | :01:30. | :01:36. | |
substantial contribution to the banks. There by supporting | :01:36. | :01:41. | |
financial conditions and confidence. How is it going down in the Asian | :01:41. | :01:51. | |
:01:51. | :01:55. | ||
markets? Very closely watched isn't it? Asian markets are reacting | :01:55. | :02:02. | |
positively to the news out of Europe. Japan's rows over 1% at | :02:02. | :02:08. | |
this at our. It is raised by shares of exporters. Investors are much | :02:08. | :02:12. | |
nervous over the debt crisis and potential impact on demand for | :02:12. | :02:22. | |
:02:22. | :02:27. | ||
goods made in Asia. EU wrote his steady, holding. $1.28 it is | :02:28. | :02:33. | |
stabilising at 98. Four to five. Oil prices are hovering above $99 | :02:33. | :02:43. | |
:02:43. | :02:44. | ||
and -- a barrel. That has pushed up commodities. Monitoring shares in | :02:44. | :02:53. | |
Taiwan ahead of the presidential election which will determine its | :02:53. | :02:59. | |
relations with China. Something of a bigger test as Italy sells off | :03:00. | :03:07. | |
more than 4 billion euros of long- term bonds. While there is no long- | :03:07. | :03:15. | |
term solution to the eurozone crisis. Do you think this is a | :03:15. | :03:19. | |
turning point in the eurozone crisis? Can we be confident that | :03:19. | :03:27. | |
the markets will be there this? With a change of leadership at the | :03:27. | :03:33. | |
ECB we are entering a phase where we will act much closer to what we | :03:33. | :03:36. | |
have been doing. If interest rates have come down and the measures | :03:36. | :03:42. | |
have been put in place. That will help the market. In terms of | :03:42. | :03:48. | |
sentiment, what is also happening is so much bad news into the market. | :03:49. | :03:54. | |
I think the market is giving the benefit of the doubt. We should not | :03:54. | :04:01. | |
get complacent. We should be careful, there will be volatility. | :04:01. | :04:11. | |
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We want to make sure we have a well-balanced portfolio. There is | :04:11. | :04:18. | |
still a long way to go isn't there? Him refinancing terms, Italy has to | :04:18. | :04:25. | |
raise $90 billion by the end of April. It is meaningful, because | :04:25. | :04:31. | |
from a sentiment stand. It is a big shift. But financing in 2012 is | :04:31. | :04:37. | |
very large. -- we will need close to racially dollars for the will | :04:37. | :04:41. | |
put together. In terms of Europe, there is a concentration in the | :04:41. | :04:46. | |
first quarter. We have had some good news, but let's be vigilant | :04:46. | :04:54. | |
because there is more to come. I am watching how progress is made in | :04:54. | :05:03. | |
terms of budgets and developments in order to meet the targets. Also | :05:03. | :05:07. | |
understanding of what leaders are thinking of in terms of growth. The | :05:07. | :05:12. | |
test levels are still high, debt levels with no growth are a | :05:12. | :05:21. | |
difficult to sustain. If we saw in Greece, Italy and Spain, widespread | :05:22. | :05:27. | |
market reform, is very potential to unleash strong economic growth? | :05:27. | :05:31. | |
Could be end up with a positive story in five or ten years' time? | :05:31. | :05:35. | |
In five or ten years' time yes. The key thing is to understand the | :05:35. | :05:41. | |
steps. If we have sharp reforms, we have shut unemployment and cost | :05:41. | :05:51. | |
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adjustments. Adjustments need to happen in Europe because the | :05:52. | :06:01. | |
currency by so strong. There is still a lot to do. That would be a | :06:01. | :06:11. | |
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good step in the right direction. Thank you. It has been a grim | :06:12. | :06:16. | |
quarter for Wall Street's financial giants. They said to date we would | :06:16. | :06:22. | |
get an idea of how about. The largest bank in the US will report | :06:22. | :06:30. | |
a drop in profit of around 17%. Rivals will follow what their | :06:30. | :06:36. | |
results next week. Some are predicting the worst figures in a | :06:36. | :06:45. | |
decade. Our correspondent has more. JP Morgan Chase is America's | :06:45. | :06:52. | |
biggest bank in power. The industry is waiting to see if the money it | :06:52. | :06:56. | |
makes from lending to business has gone up in what was otherwise | :06:56. | :07:02. | |
considered an ugly environment for banks. What we will be looking for | :07:02. | :07:06. | |
it is there that they can produce growth. And also whether they can | :07:06. | :07:10. | |
bring expenses down and how well their investor -- investment | :07:10. | :07:15. | |
banking and Revenue has weathered the crisis. Another challenge is | :07:15. | :07:20. | |
closer to home. New rules have gone into effect that limit the fees on | :07:20. | :07:25. | |
debit card transactions. To make up for lost revenue, banks are | :07:25. | :07:33. | |
tightening their belts. You can jump a lot about the health of the | :07:33. | :07:38. | |
Bank industry, by how well its staff are doing. Spare a thought | :07:38. | :07:43. | |
for the staff, since the recession many have lost their jobs. More | :07:43. | :07:52. | |
lay-offs are expected this year. This meant was that go into in 2009. | :07:52. | :07:55. | |
He has not given up hoping returning to the profession he | :07:55. | :08:01. | |
laughs. With the industry shrinking, it is a challenge. Things are | :08:01. | :08:05. | |
changing quickly, I have to educate myself as much as possible. | :08:05. | :08:15. | |
Resources a very costly. That is a challenge. America's top banks are | :08:15. | :08:22. | |
expected to have had a miserable finish to 2011. The European debt | :08:22. | :08:30. | |
crisis is to blame for dealing profits. A look at what else is | :08:30. | :08:34. | |
happening in the business world. Talks continue in Athens between | :08:34. | :08:39. | |
Greece and private creditors. Greece needs to get private lenders | :08:39. | :08:47. | |
to agree on a 50 % debt write-off. The finance minister said he was | :08:47. | :08:54. | |
confident after meeting on Thursday. It has been warned that key issues | :08:54. | :08:59. | |
remain unresolved and that time is running out. | :08:59. | :09:02. | |
Nigeria's led the unions will hold more talks with the President | :09:02. | :09:08. | |
tomorrow to resolve a dispute over soaring fuel prices. The price of | :09:08. | :09:13. | |
petrol has doubled since subsidies were removed. Correct it -- | :09:13. | :09:20. | |
protests were sparked up and down the country. | :09:20. | :09:25. | |
For Apple says it is suspending sales of the iPod fought in Beijing | :09:25. | :09:31. | |
and Shanghai to ensure the safety of customers and employees. Violent | :09:31. | :09:35. |