08/02/2012 World Business Report

The as are the latest headlines. Welcome. This is World Business

Report. The headlines: Optimism that a deal in Greece is near. It

sent the Dow Jones to its highest level since May 2008.

And an online firm reports its first earnings since listing.

Expect scrutiny of its products. The world's biggest mining company

reports a fall in earnings, weaker commodity prices and Global Witness.

It looks like Greece has unleashed a fake gilt we its international

credit has. -- reached a deal. Talks last night were described as

constructive. It may feel like we have been here before but investors

are optimistic. Asia is also higher. The Greek people, on the other hand,

are much less positive as anger flared on the streets of Athens.

Fresh talks of Greece leaving the euro have ceased. We are in a very

decisive moment regarding the future of Greece. We want race in

the euro. The European Commission has made it clear from the

beginning of this very important talk, not only for Europe Cup but

for Greece to be kept in Europe. may hear today or we may not, in

terms of the deal being done unlike they have taken a step forward.

are inching towards progression and a successful resolution of the

talks. There has been ongoing discussion, we are now talking

about additional austerity measures. The question is that even if we get

all these issues lined up together, we get the great parliamentary

parties to agree, the next stage is the more tricky one and that is the

implementation. Some of the detail we are hearing about. The European

Central Bank is taking a hit on its money it has lined to Greece?

may well be the case. The private sector took a substantial write-

down. That was half the battle. We needed to consider how some of the

official sector, holders of debt, were going to deal with it. They

every denomination of those holdings, a reduction - that is

good news. But will other official holders be involved? That leaves

the Greek population with a burden. Implementation is the real key

issue. It is not an easy task because in Greece, as we saw

yesterday, the feeling outside the parliamentary building is one of

anger and angst about how difficult it is for the average person to

make the changes they need to make. The politicians understand the need

for the measures but implementing that on the ground is difficult

when you're talking about cuts to the minimum wage by 25%. Cutting

the deficit. That is incredibly difficult. Being able to drive on

the austerity. There is also an election coming and that is quite

interesting. They need to not be seen as pro austerity otherwise

there will be penalized by the voters. We may get a deal, then the

real problems start and then you have the progressive process of the

lenders coming back to Greece on a regular basis and determining

whether that is being met. That flow of money. On a daily basis, we

have been saying, if we have any more detail, we will let you know.

The company will be carefully scrutinised. The business model may

not be sustainable. Having seen the firm growth. The share prices has

been disturbed thanks to be spot light cast on social media

companies. They call it collective buying

power. If enough people signed up... Signing up in large number to get

large discounts. It has taken off in the last four years. The company

floated on the stock market in November. Stephen Spencer says he

still sees lots of potential for this new business in an

increasingly mobile world. If the majority of the population is

walking around with a smart phone, and we have this relationship,

there will be an ability to deliver the deals to people. If they are

able to take advantage of that, that will be what accelerates in

the next couple of years. It has generated a lot of revenue. The

question is how much profit they make on their sale. Its explosive

growth a mind for the ills like this one has begun to slow. --

growth online. Just so many customers has the business had, how

often do they bind the deals, how much do they spend. The biggest

competitor, reportedly lost $500 million last year. A fortune on

advertising also has had to be spent. The new number of repeat

customers as a percentage is slowing. The momentum is slowing.

In order to answer the critics, if they can drive costume are

earning,... Facebook is launching on the stock market, everyone is on

the lookout for another take boom and bust. -- technology boom and

bust. A fall reported fought two years. We say of four - it is

important I lost some money but they are still making a huge

amount? Absolutely. Still a lot of money.

It may be the first decline since 2009 but according to analysts, the

numbers are still Stella., tea prices, the European debt crisis,

analysts say BHP is still a different league from its would-be

rivals. The 6% drop in profits, they still made more cash profits

in six-month then the 90 million dollar marriage of commodities. And

from far fewer revenues. Relatively low cost base and diverse range of

high quality, long-life assets have outweighed market concerns. The

chief executive said he was less worried now than late last year

about the sovereign debt crisis in Europe. He saw China's insatiable

demand for iron ore. The American internet firm year who

has seen a shake-up. For executives have stepped down. Many

shareholders blame them for the fall in share prices. A 47 billion-

dollar takeover from Microsoft was rejected in 2007.

The net income rose 4% in the final three months of last year. The firm