Browse content similar to 16/04/2012. Check below for episodes and series from the same categories and more!
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allegations of a sex gain will involving members of his security | :00:03. | :00:07. | |
force and prostitutes. Time for the latest money news, | :00:07. | :00:17. | |
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here is World Business Report. A warm welcome with World Business | :00:17. | :00:24. | |
Report. The headlines: The race for the biggest job in fighting poverty. | :00:24. | :00:28. | |
The new head of the World Bank will Is | :00:28. | :00:34. | |
Is the crisis in Europe reigniting? Nicolas Sarkozy calls on the | :00:34. | :00:39. | |
European Central Bank to do more to China | :00:39. | :00:49. | |
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China widens the trading area of trade with the West. | :00:53. | :00:58. | |
institu institution is about to reveal its | :00:58. | :01:05. | |
new leader. The World Bank's his successor is expected to be | :01:05. | :01:11. | |
announced today. The contest is between the American candidate or | :01:11. | :01:19. | |
the Nigerian Finance Minister. A third candidate pulled out on | :01:19. | :01:23. | |
Friday. It is the first time in the bank's history that candidates | :01:23. | :01:29. | |
other than a US appointee have been considered. | :01:29. | :01:30. | |
This is Obama has narack | :01:30. | :01:35. | |
Obama has nominated to head the organisation | :01:35. | :01:40. | |
organisation that a fight poverty by giving out large-scale loans. He | :01:40. | :01:43. | |
is a highly regarded Korean American health experts. But | :01:43. | :01:48. | |
critics say it is time for the US to end its unique power to d | :01:48. | :01:58. | |
World Bank's chief. The process better reflected across the 187 | :01:58. | :02:05. | |
Assuming th the watchword assumption at the | :02:05. | :02:11. | |
moment, he can certainly acquire legitimacy once in office. It will | :02:11. | :02:16. | |
be his actithat matter. The reality is that it | :02:16. | :02:24. | |
confident as we would be if the entire process were more open and | :02:24. | :02:28. | |
transparent. There has been some measure of | :02:28. | :02:34. | |
the US nominee faces rivals. Developing nations are back in | :02:35. | :02:43. | |
Nigeria's f Nigeria's f most well-qualified candidate. | :02:43. | :02:48. | |
While the former Colombian finance minister was a third contender | :02:48. | :02:58. | |
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accepts tha tradition of a European, an | :02:59. | :03:03. | |
American, leading the World Bank, will have to be broken down. The | :03:03. | :03:11. | |
question is - who moves first? Now to | :03:11. | :03:14. | |
to relinquish control, because we are in an election year and | :03:14. | :03:21. | |
little room to manoeuvre. Competition to become the 12th | :03:21. | :03:26. | |
President of the World Bank has been more intense than ever. | :03:26. | :03:30. | |
Despite the growing power and boys of China, India and other emerging | :03:30. | :03:36. | |
nations, it looks as if the dominance of the US remains -- | :03:36. | :03:43. | |
despite the growing voice. In China, the daily trading range | :03:44. | :03:52. | |
of the yuan has been doubled. To Singapore. Tel us more about the | :03:52. | :04:02. | |
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yuan on the move? It is on the move indeed. It has | :04:03. | :04:08. | |
moved 0.5% from its mid-point at a price, which is set every day by | :04:08. | :04:13. | |
the People's Bank of China. This was announced in English, | :04:13. | :04:16. | |
suggesting suggesting it was targeting a | :04:16. | :04:21. | |
foreign audience. China has been under pressure to allow the yuan to | :04:21. | :04:24. | |
appreciate because nations like the United States and Germany believe | :04:24. | :04:27. | |
that China keeps the yuan artificially low to boost its | :04:28. | :04:35. | |
exports. This gives it an unfair trading advantage. The US has | :04:35. | :04:45. | |
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welcomed this initiative by the that if implemented properly, it | :04:46. | :04:54. | |
allows... Positive influence for the rebalancing of the Chinese | :04:54. | :04:57. | |
economy. Tell us about the timing of th | :04:57. | :05:00. | |
move? move? There is a lot of discussion | :05:00. | :05:06. | |
as to why they did it today. That's right. Two currency analysts | :05:06. | :05:11. | |
I spoke to no surprise that this was imposed | :05:11. | :05:20. | |
today. They said it was a long hike minimal impact on the dollar | :05:20. | :05:26. | |
Asian currencies. Foreign exchange strategists are forecasting that | :05:26. | :05:30. | |
the currency will appreciate to about 6.2 by the end of the year | :05:30. | :05:39. | |
from its current level of 6.3. This is another step in liberalising the | :05:39. | :05:46. | |
capital account of China. The French president Nicolas | :05:46. | :05:51. | |
Central Bank to do more to promote economic growth in the region. He | :05:51. | :05:52. | |
was speaking at an on Sunday a | :05:52. | :05:54. | |
on Sunday a week | :05:55. | :05:59. | |
week in the eurozone. On Friday, bank shares in both Europe and the | :05:59. | :06:03. | |
United States fell sharply and the interest rates on Spain's ten-year | :06:03. | :06:07. | |
government bonds came close to hitting 6%. Investors are worried | :06:07. | :06:10. | |
that European Union leaders have imposed to rapid budget cuts on its | :06:10. | :06:13. | |
members, stifling growth, whic badly needed to get the recovery | :06:13. | :06:23. | |
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- one of the things he is talking about is perhaps changing the ECB's | :06:26. | :06:30. | |
remit so what is not just watching inflation but trying to do | :06:30. | :06:38. | |
something about growth, like in the likely outcome of the current | :06:38. | :06:43. | |
escalation that we face in France. Nicolas Sarkozy is lagging behind | :06:43. | :06:46. | |
in the polls, he has to come up the | :06:46. | :06:52. | |
the issue of jobs, for example, which is very pressing in France. | :06:52. | :06:58. | |
Turning on ECB in order to have somebody to blame is not | :06:58. | :07:02. | |
inappropriate for somebody who suggested | :07:02. | :07:06. | |
suggested that the ECB's role be expanded towards growth and | :07:06. | :07:11. | |
innovation. Do you think where we are now with the are his own crisis | :07:11. | :07:14. | |
and some of the bigger economies like Spain and Italy looking very | :07:14. | :07:18. | |
dodgy, do you think that is a ballot point? The ECB is bending | :07:18. | :07:25. | |
over backwards to keep interest rates low and to keep banks afloat. | :07:25. | :07:31. | |
government bond markets. None of that has really been written down | :07:31. | :07:38. | |
in the treaty, the foundation for the ECB. There have also been bail- | :07:38. | :07:42. | |
three three of them now. That is | :07:42. | :07:45. | |
explicitly ruled out in the foundation document. We have moved | :07:45. | :07:49. | |
a long way from what was agreed in the 90s with the signature of | :07:49. | :07:56. | |
what the ECB to become a tool for politicians. How concerned are you | :07:56. | :08:06. | |
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about where we are at the moment. The Spanish politician is heading | :08:06. | :08:10. | |
over to plead with the ECB now to you? | :08:10. | :08:15. | |
you? It is a challenging situation, again. We are not back to where we | :08:15. | :08:23. | |
were last year. It is likely that the market will test us again. The | :08:23. | :08:33. | |
kind of intervention by the ECB. Very briefly comedy thing Spain | :08:33. | :08:37. | |
will be bailed out? Spain will probably, at some stage early next | :08:37. | :08:47. | |
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year it or -- next year or late this year, require a package. It is | :08:48. | :08:51. | |
difficult to see them getting through this without some help from | :08:51. | :08:55. | |
somebody. I don't think the ECB alone would like to be that | :08:55. | :08:59. | |
somebody. Thank you for your perspective. | :08:59. | :09:02. | |
The markets are reflecting a real concern out there again today. We | :09:02. | :09:12. | |
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will look at those later on. Let's look at some other business | :09:13. | :09:18. | |
news: Google has been accused of copyright infringement of software | :09:18. | :09:28. | |
:09:28. | :09:29. | ||
used in the Android operating The American banks in the group | :09:29. | :09:32. | |
reports how much money it made in the first three months of this year | :09:32. | :09:42. | |
:09:42. | :09:43. | ||
it later today. -- city group. It is one of the few banks to fail the | :09:43. | :09:46. | |
stress test passed out by the American Central Bank to see | :09:46. | :09:49. | |
whether it could survive another financial shock. | :09:49. | :09:54. |