Browse content similar to 15/03/2012. Check below for episodes and series from the same categories and more!
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withdrawing their diplomats from Damascus. Time now for the money | :00:05. | :00:15. | |
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news with Sally and World Business Hello and a very warm welcome. | :00:17. | :00:21. | |
These are the headlines. Trade ties with China might be strained but | :00:21. | :00:23. | |
the United States relations with neighbouring South Korea have | :00:23. | :00:33. | |
:00:33. | :00:46. | ||
The trade ties with China might be strained but the United States' | :00:46. | :00:50. | |
relations with neighbouring South Korea have rarely been stronger. A | :00:50. | :00:53. | |
free trade agreement comes into force today which could create more | :00:53. | :00:56. | |
than 300,000 jobs in South Korea, and boost economic growth over the | :00:56. | :01:02. | |
next 10 years. But not everyone is happy with the deal. After six | :01:02. | :01:06. | |
years of negotiating, ratifying and protesting, South Korea's free- | :01:06. | :01:11. | |
trade agreement with the US has arrived. Starting today American | :01:11. | :01:14. | |
products in Seoul should start to look a bit cheaper and in five | :01:14. | :01:21. | |
years' time, 95% of trade should be tariff free. For lovers of the | :01:21. | :01:30. | |
American Brands here, how will those savings be? While some | :01:30. | :01:34. | |
companies were planning on enforcing more American products, | :01:34. | :01:39. | |
only a quarter will pass on the full reductions to the customers. | :01:40. | :01:43. | |
But for career the real value of the deal lies in access to | :01:43. | :01:49. | |
customers in the US. South Korea's share in the US market has fallen, | :01:49. | :01:54. | |
something the trade ministers said he hoped the deal would offset. | :01:55. | :01:58. | |
Given the eurozone crisis, the timing of this deal today could not | :01:58. | :02:03. | |
be any better. I have every confidence that the trade sector | :02:03. | :02:09. | |
will pick up and the business community's of both career and the | :02:09. | :02:15. | |
US will enjoy the benefits of this win-win agreement -- Almeria. | :02:15. | :02:25. | |
:02:25. | :02:25. | ||
not everybody sees things that way. Farmers have staged protests. | :02:25. | :02:29. | |
Opposition parties have said they will try to block the deal if they | :02:29. | :02:33. | |
win elections here this year. The agreement may be done but there is | :02:33. | :02:41. | |
still plenty of negotiating to do at home. Another trade row seems | :02:41. | :02:45. | |
close to conclusion. The US says it will lift import duties on some | :02:45. | :02:48. | |
orange juice produced in Brazil. The Latin American country is the | :02:48. | :02:50. | |
world's biggest producer - accounting for 85% of exports. But | :02:50. | :02:53. | |
influential citrus farmers in Florida had claimed Brazil was | :02:53. | :02:55. | |
hurting their industry by dumping artificially cheap juice on the | :02:55. | :03:05. | |
:03:05. | :03:06. | ||
market. And those of you wanting to challenge Amerca's interest rate | :03:06. | :03:10. | |
strategy can so so via twitter. As part of a plan to make itself more | :03:10. | :03:13. | |
accessible to the public - the Federal Reserve has joined the | :03:13. | :03:15. | |
social network site - using the name @federalreserve. The Central | :03:15. | :03:21. | |
Bank says it will use it to post press releases and speeches. A euro | :03:21. | :03:25. | |
group of ministers gave their final approval to release hundred and | :03:25. | :03:32. | |
EUR30 billion of money to Greece at the same time. The IMF changed its | :03:32. | :03:38. | |
lending rules clearing the way for the IMF to approve a $28 billion | :03:38. | :03:41. | |
loan to Greece today. They will now be able to pay the money back over | :03:41. | :03:51. | |
four years instead of three. Marie Diron is a Senior economic adviser | :03:51. | :03:55. | |
to the Ernst & Young Eurozone Forecast. It means Greece can get | :03:55. | :03:59. | |
their hands on this much needed cash. Yes, this was the last hurdle | :03:59. | :04:06. | |
and now they can go on with the plan agreed. How will it work on a | :04:06. | :04:10. | |
practical level? It doesn't have that restructuring deadline hanging | :04:10. | :04:15. | |
over it any more, but it does have regular dates where it has to prove | :04:15. | :04:21. | |
itself to get the next set of money. The sense of extreme emergency we | :04:21. | :04:28. | |
had a few weeks ago has gone. But the deadlines will come fast. Every | :04:28. | :04:33. | |
quarter the improvement in the Greek situation will be at reviewed | :04:33. | :04:37. | |
by the IMF and euro governments, to decide whether they want to release | :04:37. | :04:44. | |
more money or not. In terms of the targets that have been set for it | :04:44. | :04:50. | |
to prove its meeting on a three- monthly basis, are a realistic? | :04:50. | :04:57. | |
will be difficult. In the best case scenario Greece will have a debt of | :04:57. | :05:03. | |
120 % of GDP in ten years' time -- are a realistic. That seems | :05:03. | :05:10. | |
ambitious. -- Are there any realistic. Maybe these figures need | :05:10. | :05:17. | |
to be adjusted -- are they realistic. Is this firewall not | :05:17. | :05:24. | |
very strong? It is possible. The Greek economy still faces deep | :05:24. | :05:30. | |
recession. There is a 6% fall in GDP this year anticipated. Thank | :05:30. | :05:36. | |
you for joining us. Fitch has become the third ratings agency to | :05:36. | :05:40. | |
warn the UK could lose its triple A credit rating. Late yesterday it | :05:40. | :05:43. | |
changed its outlook on the UK economy to negative just a week | :05:43. | :05:47. | |
before UK finance minister George Osborne announces his annual budget. | :05:47. | :05:50. | |
He's under pressure to reverse planned benefit cuts due to rising | :05:50. | :05:58. | |
unemployment and shrinking national wealth. The Managing Director of | :05:58. | :06:01. | |
Fitch Ratings had warned the UK's triple A rating could come under | :06:01. | :06:07. | |
scrutiny just a few months ago. When you look at the Albert for the | :06:07. | :06:13. | |
UK, you see the UK will become the most indebted of the current AAA | :06:13. | :06:16. | |
rated governments with the sole exception of the United States -- | :06:16. | :06:21. | |
the outlook. Over time there is a prospect that it could come under | :06:21. | :06:26. | |
scrutiny. Lufthansa is expected to announce a 13 million euro lost | :06:26. | :06:30. | |
when it releases its final year results in a few hours. They are | :06:30. | :06:34. | |
trying to curb their losses by selling off British Midland but the | :06:34. | :06:39. | |
sale could take a long time to complete. So what could they do to | :06:39. | :06:45. | |
return to profit? British Midland International, the EMI, made losses | :06:45. | :06:55. | |
:06:55. | :07:04. | ||
last year of 200 AD EUR5 million -- 2007 compared to a healthy profit | :07:04. | :07:11. | |
in 2010 of EUR1.1 billion. BMI's losses have been largely to blame | :07:11. | :07:15. | |
but Lufthansa was also hit by slack passenger demand in Europe and | :07:16. | :07:21. | |
rising fuel costs. Many analysts say the airline should devote 2012 | :07:21. | :07:26. | |
to streamlining its rather flabby operations. For example Lufthansa | :07:26. | :07:30. | |
uses no fewer than 20 different types of aircraft to fly its | :07:30. | :07:36. | |
passengers. It is about having the right planes for the right routes, | :07:36. | :07:41. | |
having the turnaround times right, getting the Labour levels and | :07:41. | :07:48. | |
Labour terms to match some stage of the art 75 employees roughly to get | :07:48. | :07:54. | |
the playing in the air -- date of the art. Lufthansa has agreed to | :07:54. | :07:58. | |
sell BMI to the International Air Lines Group for EUR200 million -- | :07:58. | :08:08. | |
:08:08. | :08:13. | ||
eight of the art. -- state-of-the- art. Virgin is lobbying the | :08:13. | :08:17. | |
European Commission to try to block this deal. If this deal doesn't | :08:17. | :08:21. | |
proceed it is quite likely Lufthansa will choose to close BMI | :08:21. | :08:26. | |
and in circumstances like that competition authorities take a | :08:26. | :08:34. | |
pretty lenient view. Lufthansa is ditching BMI as a bad purchase. The | :08:34. | :08:44. | |
:08:44. | :08:48. | ||
low-cost carrier it also has can possibly say it. We are seeing a | :08:48. | :08:58. | |
:08:58. | :09:31. | ||
fairly mixed picture in Asia today One of the stories that sticks out, | :09:31. | :09:41. |