Browse content similar to 17/02/2012. Check below for episodes and series from the same categories and more!
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This is World Business report. Nuclear power is back on the agenda | :00:21. | :00:28. | |
as Britain and France plan more reactors. The private side chasing | :00:28. | :00:38. | |
:00:38. | :00:50. | ||
for the Greek economy. The markets The centrepiece of the French UK | :00:50. | :00:56. | |
some at is about nuclear power. The deal is worth over $800 million. It | :00:56. | :01:04. | |
may create 1,500 jobs. The French energy giant which operates many | :01:04. | :01:10. | |
nuclear plants plans for new reactors. The first will be in | :01:10. | :01:17. | |
Somerset. It's almost one year since explosions ripped through the | :01:17. | :01:22. | |
Fukushima in Japan. In the wake of their earthquake and tsunami it | :01:22. | :01:30. | |
left 18,000 dead. The event hit the confidence of the nuclear industry. | :01:30. | :01:34. | |
Tour of the European biggest countries signalled it more | :01:34. | :01:40. | |
confidence for the decades to come. EDF owns many of the British | :01:40. | :01:47. | |
nuclear plants. It has plans for all new reactors the first in the | :01:47. | :01:53. | |
west. Today, it will sign a contract worth $160 million to | :01:53. | :01:59. | |
prepare the site or construction. The French nuclear company will | :01:59. | :02:03. | |
design and build the reactor. Last year it signed an agreement with | :02:03. | :02:09. | |
the British Rolls-Royce. Today it goes further. It may be best known | :02:09. | :02:17. | |
for its huge engines but Rolls- Royce has nuclear expertise. It has | :02:17. | :02:23. | |
provided reactors for the nuclear submarines. Now it will provide | :02:23. | :02:29. | |
components and a deal is worth $630 million. It will come from a | :02:29. | :02:32. | |
purpose-built plant in the north of England which will support several | :02:32. | :02:37. | |
hundred jobs. They hope this will provide a springboard for made it | :02:37. | :02:44. | |
exports orders. Other countries need to assume they want the | :02:44. | :02:50. | |
technology. Germany has opposed to technology and has closed many | :02:50. | :02:53. | |
facilities. As the anniversary of the Japanese and army approaches | :02:53. | :03:00. | |
the future for nuclear power is far from clear. The Greek lawyer | :03:00. | :03:06. | |
leading the sale of state assets to pay for the date has told us that | :03:06. | :03:10. | |
there are two ways for privatisation. It may raise 4 | :03:10. | :03:20. | |
:03:20. | :03:22. | ||
billion euros. They need 10 billion euros. The presidents of the | :03:22. | :03:29. | |
Management fund spoke from the second Greek city will the port has | :03:29. | :03:39. | |
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not been sold after all years of negotiations with the unions. No | :03:39. | :03:44. | |
cruise ships but behind those historic walls, the sport in the | :03:44. | :03:52. | |
second city has over 400 staff on permanent payroll. It's the biggest | :03:52. | :03:57. | |
state employee up. Private Eye's -- privatisation was mooted but it's | :03:57. | :04:03. | |
been kept it by a combination of state in activity and trade union | :04:03. | :04:10. | |
opposition. Now the privatisation is slated for the second half of | :04:10. | :04:17. | |
the key and many will not be surprised if it slips again. Report | :04:17. | :04:22. | |
says it is profitable. Two and am 80 staff work in the Office. Union | :04:22. | :04:31. | |
leaders have resisted change. They had seen off one large buyer. | :04:31. | :04:36. | |
have live with this threat for years. There was once more workers. | :04:36. | :04:41. | |
This is the history. It's not for selling and we will not allow it. | :04:41. | :04:46. | |
The man who now has the job to a overcome the blocking tactics is | :04:46. | :04:51. | |
this top lawyer. He says he could not act sooner because no-one would | :04:51. | :04:57. | |
clarify in law what would be sold. We're doing a great job but the | :04:57. | :05:00. | |
market is frozen at and we need investors with big-money but they | :05:00. | :05:05. | |
do not know if we will state in the eurozone and what will happen to | :05:05. | :05:11. | |
the great banks to get loans. We want the plan to run quickly and we | :05:11. | :05:16. | |
can only estimate what the assets are worth probably 4.5 billion | :05:16. | :05:23. | |
euros. To greet people do not want to sell them at low prices. Energy | :05:23. | :05:26. | |
utility sales have been delayed and the agency can only hope that the | :05:26. | :05:32. | |
new bail-out for Greece may bring out some - back put out some fires. | :05:32. | :05:36. | |
On Friday Hungary will outline plans for a set of controversial | :05:36. | :05:43. | |
laws. They need to respond to that here you worries about legislation | :05:43. | :05:46. | |
on the Central Bank protection agency. They threaten legal action | :05:46. | :05:53. | |
to block the deal on if the changes are not made. The laws threaten | :05:53. | :05:59. | |
democracy and breach rules. They may amend the rules but investors | :05:59. | :06:06. | |
wait to see if the proposals are enough. How radical are these | :06:06. | :06:12. | |
changes needed to be made as far as that EU is concerned? As far as the | :06:12. | :06:17. | |
EU, the changes are not particularly radical. They want to | :06:17. | :06:21. | |
drop one of the Deputy Governors of the National Bank of Hungary. They | :06:21. | :06:26. | |
want to abolish the idea of having to extra members on the monetary | :06:26. | :06:34. | |
council. The Government argues that it has not encroach on the | :06:34. | :06:40. | |
Independent's of that. The demand from the EU is fairly minimal. It | :06:40. | :06:46. | |
will be relatively easy for hungry to respond. It's the tip of the | :06:47. | :06:52. | |
iceberg. Once they reply, we will watch very closely how the European | :06:52. | :06:58. | |
Community response. They want more changes than this. The backdrop is | :06:58. | :07:03. | |
that Hungary needs the money? do need the money. Since the | :07:03. | :07:08. | |
initial crisis in January, the currency has improved a great deal | :07:08. | :07:13. | |
simply because the Government has made more conciliatory noises. But | :07:13. | :07:18. | |
it does need the money and the urgency is not there yet. It's not | :07:18. | :07:23. | |
as intense. But they do need the money and they need the green light | :07:23. | :07:28. | |
from the European Commission for the talks to begin with the IMF. | :07:28. | :07:33. | |
Were we told that Greece we talk about it getting bigger but is a | :07:33. | :07:41. | |
holding smaller in Hungary? It more difficult here. When the market is | :07:41. | :07:44. | |
reassured, Hanbury is trying to refine its, what it wants from the | :07:44. | :07:50. | |
IMF is a safety net. When the market believes the Government is | :07:50. | :07:54. | |
going to go properly for the deal with the IMF, things will get | :07:54. | :08:04. | |
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easier. Things may get more In Asia, we will see how the | :08:05. | :08:15. | |
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markets of doing. We are responding That's right. All the markets of | :08:16. | :08:22. | |
trading higher. It looks like we will end positive. Investors are at | :08:22. | :08:27. | |
cheering the US job market which is stronger than expected. That pushed | :08:27. | :08:33. | |
up the shares on Wall Street. The Japanese Nikkei it is 2% higher. | :08:33. | :08:38. | |
That was held by the Japanese yen weakening against the US dollar and | :08:38. | :08:45. | |
other currencies. Investors here it up quite hopeful that the second | :08:45. | :08:51. | |
bail at all Greece will be approved early next week. I should also | :08:51. | :08:57. | |
mention shares in the billabong company Australia have jumped 50% | :08:57. | :09:02. | |
today after the company said it has received a takeover bid and it has | :09:03. | :09:06. | |
confirmed it will sell a majority stake in one of the brands to pay | :09:06. | :09:16. | |
off its debts. Investors like to The European Commission welcomes | :09:16. | :09:23. | |
plans from Italy to make the country's Catholic Church subject | :09:23. | :09:28. | |
to property tax and that may contribute $1 billion to Italy. | :09:28. | :09:34. | |
Construction of homes in the US has cooled after surging last year. The | :09:34. | :09:39. |