06/04/2012 World Business Report

News. Now for the latest financial news with World Business Report.

Hello and welcome to World Business Report. Spain's economy minister

says a bailout is not on the table, despite another punishing day on

the bond markets. The sands and Hess boosted its quarterly profits

due to increased demand for a smart phones and tableaux at computers.

Plus, US employers may have hired another 200,000 people in March,

rounding off the best quarter for job creation since 2006. Spain's

Economy Minister says an EU/IMF bailout for the country is not on

the table and would be the last resort. In an interview on Spanish

state radio late on Thursday night, Luis de Guindos described a bailout

as the worst possible outcome. The comments came at the end of another

difficult day for Spain on the bond markets. At one point yields on

Spain's 10-year debt hit 5.86% - a level Mr de Guindos called

unsustainable. On Wednesday Spain struggled to raise money in an

auction of 5 year bonds - rattling global markets. Now we had joined

by the head of credit at Legal and General. How worrying is these

yield on a Spanish debt? They are lower than last November? Yes, but

the recent trend is discouraging. The markets will very closely

watched the progress this year in relation to any critical level of

7%. We are still some distance away but the smaller the distance

becomes the more it will create a vicious circle. It is a time for

taking stock. We had a strong beginning of the year across all

risk assets. Equities, but also credit markets, which have

benefited from the flood of liquidity created by central banks.

After a strong three months, it is time to reassess. The economic data

in Europe has been mixed at best. The Spanish economy is still

shrinking. The more it shrinks, the more difficult to reach its targets.

What can be done to restore confidence in the markets? Italy

could get involved to a point Italy has even more debt. Spain could be

accepted by the rescue funds. But if you put Spain end Italy together,

it would be very difficult. It is important that that Spain sorts out

its problem end the nervousness does not migrate to Italy.

Electronic giant Samsung has posted record quarterly profits thanks to

booming demand for its smartphones and tablet computers. 5.1 billion

US dollars. This is just an estimate of its full year quarterly

numbers. With the record number and growing market share, Samsung,

which raced to the top of the global smart phone rankings with

20% of the market, will consolidate its position against its

competitors. Its sterling performance is reflected in the

company's share price - up 25% in 2012. Apple is its biggest rival in

smart phones, but is also its biggest client, buying displays and

chips for its iPhone and iPad. According to analysts, these record

numbers can be sustained duty to things. It has an integrated

business model. It makes its own applications and screens. Also,

earnings for memory chips have pride and, since the bankruptcy of

a major rival. It is looking bright for Samsung going forward. Worries

about the Eurozone are being tempered somewhat by better news

about the US economy. Figures out later are expected to confirm

American businesses created over 200,000 new jobs last month. Firms

have been hiring at that level since October last year - and the

overall jobless rate is now at a three-year low. Another strong

month would round off the best quarter for job creation since 2006.

After it used foiling in upmarket Manhattan eateries, this shift is

opening his own restaurant. For three weeks he has hired new staff,

with his wife and business partner. We hired ten people. The National

Federation of Independent Business says that small firms created the

most jobs in a year in March. But for every person hired, there were

many more rejections. We were inundated with people with that

experience. Still, this shows Americans are feeling more

optimistic. It is not just these restaurants. Across the country,

businesses have been hiring a lot more, a strong trend. It means

people who have been disheartened and given up by getting back into

the jobs market. People like this woman, who has been working part-

time teaching. Now she sees more opportunities and is applying for

better paid work. There has been a huge change for the better. With

that, you have to start making changes. Being a substitute teacher

does not pay the bills. improvement is being felt

everywhere. Jobs are being gained across the economy. All major

sectors are adding jobs. Manufacturer in, construction, the

service centre with the bulk of the job gains occur are all adding jobs.

It may be too early to celebrate, but a more positive job market is

here. The Easter weekend sees the first battle of the holiday season

between Europe's airlines. Budget carriers like Easyjet and Ryanair

are continuing to capture market share from troubled national flag

carriers. But in the no-frills sector, there are changes afoot,

with Easyjet trying to shift up- market. Winter always yields slim

pickings for airlines, but budget carriers are faring better. Its

losses have been lower than the year before. It is winning

passengers from full-service competitors. They are taking

advantage of markets where the incumbent network carriers have had

problems. They have expanded significantly in those markets.

Along with Ryanair, easyJet is tightening its grip on the European

short-haul market. But it has been tried to draw apart from its rival.

Ryanair has captured the bottom of the market. EasyJet has gone up a

notch or two to stand in between Ryanair and the full service

careers. It flies to many more business destinations now. This

month it has been trying out allocated seating, rather than the

find your own seed system. 20% of its passengers are business

passengers. It was to increase the number of commercial cities in

Europe that it flies to and increase frequency. A brief look at

stocks. They have had a bad week. The USS had the worst week of the

year so far. The euro is at a three-week low with worries about