Browse content similar to 17/04/2012. Check below for episodes and series from the same categories and more!
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Japan pledges $16 billion in loans Good to have you with us. An angry | :00:15. | :00:20. | |
row has broken out between Spain and Argentina after the Argentine | :00:20. | :00:24. | |
government announced plans to renationalise a Spanish oil company. | :00:24. | :00:27. | |
Madrid has promised to take decisive action against Argentina | :00:27. | :00:33. | |
in the next few days. YPF is the company in question and owned by a | :00:33. | :00:39. | |
Spanish firm, Repsol. They have put forward a bill to take control of a | :00:39. | :00:49. | |
:00:49. | :00:50. | ||
It was a popular message from Argentina's President. She believes | :00:50. | :00:54. | |
her government is taking back its own vital resources. Despite the | :00:54. | :00:59. | |
fact that the majority of YPF is currently owned by Spain's energy | :00:59. | :01:09. | |
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giant Repsol. She said 51% of YPF would in future be controlled by | :01:10. | :01:17. | |
the Argentine state. Other investors in the company, had | :01:17. | :01:23. | |
nothing to fear, she said. YPF produces crude oil every year. It | :01:23. | :01:28. | |
is a subsidiary of Repsol and makes a more than 40% of the Spanish | :01:28. | :01:33. | |
company's oil reserves. By taking the company over, Argentina wants | :01:33. | :01:41. | |
to cut the expensive energy imports from overboard. Spain warned | :01:41. | :01:46. | |
Argentina against the move. The Spanish Foreign Minister said the | :01:46. | :01:49. | |
announcement had broken the climate of friendship between the two | :01:49. | :01:57. | |
countries. It is a terrible decision for Spain. A terrible | :01:57. | :02:01. | |
decision for Argentina and very bad news for legal security that should | :02:01. | :02:07. | |
dictate the reaction between friends and allies. The loss of YPF | :02:07. | :02:11. | |
would be a blow for Repsol and for Spain. Now people will watch how | :02:11. | :02:17. | |
Madrid will respond. And where the future of foreign investors will be | :02:17. | :02:27. | |
:02:27. | :02:29. | ||
put off by what some will see as a At the start of this year, Yahoo | :02:30. | :02:38. | |
announced it had a new man in charge. Scott Thompson has not held | :02:38. | :02:43. | |
back in changes to the company. Yahoo announced it was laying off | :02:43. | :02:48. | |
2000 staff earlier this year. What more will the results today reveal | :02:48. | :02:54. | |
about the new management at the company? | :02:54. | :02:59. | |
It is a web pioneer fighting to remain relevant. Yahoo is seven had | :02:59. | :03:06. | |
a million users. -- has 700 million. They are trying to find a way to | :03:06. | :03:10. | |
turn at traffic into commerce. There is not much to be excited | :03:10. | :03:19. | |
about Yahoo right now. It has been declining. We haven't you see Tiaro. | :03:19. | :03:29. | |
:03:29. | :03:37. | ||
He has been cut and expenses and -- we have a new CEO. Investors are | :03:37. | :03:41. | |
waiting to see him whether Scott Thompson has what it takes to turn | :03:41. | :03:45. | |
around the company's fortunes. Yahoo announced its biggest ever | :03:45. | :03:53. | |
round of redundancies. 14% of the company of's -- workforce will lose | :03:53. | :04:00. | |
their jobs. Some experts say that cost-cutting is only part of the | :04:00. | :04:06. | |
company's solution. It needs to set itself apart from the past. There | :04:06. | :04:12. | |
is no-one particular thing that we associate with Yahoo the way we | :04:12. | :04:20. | |
associate search with Google and social internet with Facebook. They | :04:20. | :04:23. | |
need to pick one of its properties and focus on making it the thing | :04:23. | :04:33. | |
that the company bought most of its resources behind. The diversified | :04:33. | :04:39. | |
offerings they have now is not working. Yahoo's new boss faces a | :04:39. | :04:47. | |
tough task ahead. Japan has announced a huge | :04:47. | :04:50. | |
injection of funds for the International Monetary Fund. That | :04:50. | :04:58. | |
is ahead of the spring meeting this week. Nice to see you. Tell us what | :04:58. | :05:06. | |
Japan is up to. 16 billion US dollars from Japan. They are | :05:06. | :05:11. | |
basically pledging this amount in loans to the International Monetary | :05:11. | :05:16. | |
Fund to basically increase the IMF's firewall against the ongoing | :05:16. | :05:25. | |
European debt crisis. It comes just days before the chief leader's | :05:25. | :05:29. | |
meetings where they will discuss rising concerns that Spain might | :05:29. | :05:34. | |
need an international bail out. Christine Lagarde welcomes Japan's | :05:34. | :05:42. | |
pledge and encourages other countries to follow. This is | :05:42. | :05:47. | |
important to promote global economic stability. Japan is the | :05:47. | :05:54. | |
first non-European country to commit money. Other major economies, | :05:54. | :05:59. | |
including leading emerging companies such as China, Brazil and | :05:59. | :06:03. | |
Russia have been holding off from making any firm commitment of new | :06:03. | :06:09. | |
money, saying they will chip in but want more voting power in return at | :06:09. | :06:18. | |
the multilateral 5th for funding agency. Increased concern about | :06:18. | :06:22. | |
this ongoing European debt crisis highlighted by soaring Spanish | :06:22. | :06:32. | |
baritone costs. -- borrowing. What will Goldman | :06:32. | :06:37. | |
Sachs reveal later? It is expected to show a jump in revenues since | :06:37. | :06:41. | |
January following the second bail out of the Greek economy. Many say | :06:41. | :06:46. | |
that future looks less bright. How damaging have the revelations been | :06:46. | :06:51. | |
that staff called clients muppets? Goldman Sachs has always had a big | :06:51. | :07:01. | |
holdings of eurozone government bonds. Last year it lost after loss | :07:01. | :07:07. | |
as the market plummeted. That lifted the sovereign bond market | :07:07. | :07:11. | |
this year, lifting Goldman Sachs's trading revenues. The question is | :07:11. | :07:15. | |
whether they can deliver similar profits for the rest of this year. | :07:15. | :07:19. | |
As we are starting to see in the last few days, more and more | :07:20. | :07:23. | |
concerned around Spain and opera for Europe. That is going to mean a | :07:23. | :07:32. | |
wills will wait and see what happens. | :07:32. | :07:41. | |
Goldman Sachs is building a reputation of itself in financial | :07:41. | :07:47. | |
centres around the world. An outgoing director alleged to the | :07:47. | :07:50. | |
press that Goldman Sachs staff regularly referred to their clients | :07:50. | :07:55. | |
as muppets. That was embarrassing. Could it also be financially | :07:55. | :08:01. | |
damaging? They have also had a very significant practice. Rich people | :08:01. | :08:06. | |
want to invest their money here. They are most likely to move if | :08:06. | :08:12. | |
they are insulted. A lot of them probably have moved because of it. | :08:12. | :08:19. | |
It is a secretive committee but they will lose money. Can it redeem | :08:19. | :08:24. | |
itself? The first reason is that Risa revival of the US economy | :08:24. | :08:30. | |
which is boosting demand. The second is that many financial | :08:30. | :08:33. | |
institutions begin the US and Europe have recently cleared out of | :08:33. | :08:40. | |
the investment banking game, leaving empty territory for Goldman | :08:40. | :08:44. | |
Sachs to occupy. Per but us look at the market. Very | :08:44. | :08:50. | |
mixed and very flat. We had better than expected news out of the US | :08:50. | :08:55. | |
retail sector. That is music to the ears for exporters in Asia, who | :08:55. | :09:02. |