Browse content similar to 26/04/2012. Check below for episodes and series from the same categories and more!
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Pakistan today. If convicted, he could face jail. | :00:03. | :00:13. | |
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Let's get you up-to-date with the latest financial news. | :00:14. | :00:18. | |
Thanks for joining us on World Business Report. | :00:18. | :00:22. | |
Nintendo is ready to report its first ever annual loss as it | :00:22. | :00:26. | |
battles a strong yen and loses ground to the smartphone. | :00:26. | :00:29. | |
The Federal Reserve boost its outlook for growth but warns that | :00:29. | :00:33. | |
housing market is holding back the recovery. We take a closer look. | :00:33. | :00:38. | |
South Korea's economy picks up speed, boosted by strong industrial | :00:38. | :00:48. | |
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output and government spending. Nintendo is expected to post its | :00:50. | :00:56. | |
first ever full year loss in the next few hours. The Japanese gaming | :00:56. | :01:00. | |
company posted a sharp drop in quarterly profits back in January | :01:00. | :01:03. | |
and forecasted that it would rack up bigger than usual annual losses | :01:03. | :01:07. | |
as it battles a strong yen and loses ground to gadgets like | :01:07. | :01:17. | |
Apple's iPhone. It is now struggling to keep up as more | :01:17. | :01:25. | |
versatile smartphone and tablet sales boom. Joining us from Tokyo | :01:25. | :01:30. | |
is our correspondent. Give us your understanding of why Nintendo has | :01:30. | :01:34. | |
got itself into this difficult position. | :01:34. | :01:37. | |
Essentially the problem for Nintendo has been that it is being | :01:37. | :01:42. | |
overtaken. It is losing out to the likes of Apple and other tablet | :01:42. | :01:46. | |
make us, because people are playing games differently. Instead of | :01:46. | :01:48. | |
playing the Wii in their living rooms they are increasingly playing | :01:48. | :01:54. | |
games on their iPhone or other devices. Instead of playing in | :01:54. | :01:57. | |
their living room they a plane while commuting or in the bedroom. | :01:57. | :02:02. | |
People's lifestyles are different. -- they are playing. This means | :02:02. | :02:08. | |
that Nintendo had to radically revised its forecast. They had | :02:08. | :02:15. | |
expected to sell 30 million Wiis, now they are looking at 10 million. | :02:15. | :02:21. | |
This will push Nintendo into its first ever operating loss. It was | :02:21. | :02:26. | |
forecasting 45 billion yen. That is just over $550 million. We will | :02:26. | :02:31. | |
find out in 1.5 hours or so when the Stock Exchange in Tokyo closes | :02:31. | :02:35. | |
and the announcement is made. It is one thing to radically re- | :02:35. | :02:43. | |
adjust your forecast - what investors would like to see his | :02:43. | :02:48. | |
Nintendo coming up with some way of combating the problems. | :02:48. | :02:52. | |
In the financial year we are in now, Nintendo should do better, they | :02:52. | :02:55. | |
have some popular games coming along that should put them back | :02:55. | :03:05. | |
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into the black. It also has the Wii YOU coming along, which should what | :03:05. | :03:10. | |
it on better standing against its rivals. That should help it along | :03:10. | :03:15. | |
as well. Some analysts are saying that if you can't beat the tablets | :03:15. | :03:18. | |
and smart phones, then maybe Nintendo should join them. They | :03:18. | :03:23. | |
should try to sell their games or other devices, not just its own | :03:23. | :03:31. | |
hardware. I think one positive thing is this - unlike the likes of | :03:31. | :03:37. | |
Sony, they have a large cash pile of about $14 billion from the | :03:37. | :03:41. | |
success of the Wii, so they have some time to think about whether | :03:41. | :03:45. | |
the company needs to change its strategy and where to go next. | :03:45. | :03:48. | |
Thank you for that, and we will bring you those results as soon as | :03:48. | :03:51. | |
we get them. Let's talk now about South Korea, | :03:52. | :03:55. | |
economic growth there picked up speed in the first three months of | :03:55. | :04:02. | |
the year. We are in the BBC Singapore office. Industrial output | :04:02. | :04:06. | |
is one of the factors for that growth? | :04:06. | :04:11. | |
Absolutely. We are seeing improving governm | :04:11. | :04:16. | |
government spending. When you talk to analysts, they are warning the | :04:16. | :04:24. | |
outlook remains uncertain. There is slowing expansion in Europe and | :04:24. | :04:30. | |
China, bringing growth 2.9 % in the three months to the end of March, | :04:30. | :04:38. | |
up from a 0.3% in the first quarter.... Economists say that the | :04:38. | :04:42. | |
data at face value may appear healthy, but the picture becomes a | :04:42. | :04:46. | |
little more bleak when it is broken down by monthly performance where | :04:46. | :04:51. | |
growth is seen to slow down strongly in February and March | :04:51. | :04:55. | |
after a strong January. They say it is too early to judge whether the | :04:55. | :04:59. | |
economy is on a path of steady recovery. | :04:59. | :05:02. | |
I want to ask you a little bit about how the Asian markets have | :05:02. | :05:06. | |
been reacting to the latest update from the head of the US Federal | :05:06. | :05:10. | |
Reserve, because he delivered a fairly upbeat message about the | :05:10. | :05:19. | |
world's largest economy. Absolutely. That upbeat report from | :05:19. | :05:22. | |
the head of the US Federal Reserve saying that interest rates will | :05:22. | :05:28. | |
remain low in the US until 2014 gave a big lift to Asian markets in | :05:28. | :05:32. | |
early trading. After the strong start we are seeing Asian shares | :05:32. | :05:36. | |
losing ground with afternoon trade. Share prices are moving low laugh. | :05:36. | :05:46. | |
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Earlier they were led by gains in US stocks -- moving love.... | :05:48. | :05:53. | |
Investors in Japan as a Korea have given up their earlier games and | :05:53. | :05:56. | |
are in negative territory. Australia and Hong Kong are still | :05:56. | :06:03. | |
seen some minor gains in late trade. As we said there, the chief of the | :06:03. | :06:07. | |
US Federal Reserve raising his forecast. The one sticking point, | :06:07. | :06:11. | |
he says, it is the sluggish housing market. Millions of house owners | :06:11. | :06:15. | |
are still struggling with their mortgages four years after the | :06:15. | :06:23. | |
housing bubble burst. We report from Long Island in New York. | :06:23. | :06:27. | |
Charles is behind on his mortgage payments. He has lived in his Long | :06:27. | :06:32. | |
Island house for more than 20 years, now he could lose his home. If I | :06:32. | :06:36. | |
walk away from my house I will be losing everything - nothing. I will | :06:36. | :06:41. | |
have nothing. The about he goes on his mortgage far surpasses the | :06:41. | :06:48. | |
value of his home. He is not alone. More than 10 million home owners | :06:48. | :06:55. | |
across the USA it no more money on their mortgages than their homes | :06:55. | :07:03. | |
are worth. People say their options are limited. The deputy mayor of | :07:03. | :07:07. | |
this city says that they have been hard hit by the housing crisis and | :07:07. | :07:11. | |
he is not immune. The valley of his house is less than what he does on | :07:11. | :07:18. | |
his mortgage -- value. I can maintain my mortgage, where other | :07:18. | :07:23. | |
people are losing their homes. troubled borrowers and people tried | :07:23. | :07:30. | |
to help them, a housing recovery seems a long way off. -- trying. | :07:30. | :07:34. | |
think we are still in the middle of the crisis. Some experts say the | :07:34. | :07:38. | |
housing recovery is on the horizon, even if it doesn't happen right | :07:38. | :07:42. | |
away. The latest data over the last few months suggests that a recovery | :07:42. | :07:47. | |
may be starting. We have had better levels of sales and prices appear | :07:47. | :07:50. | |
to be stabilising. Things are pointing in the right direction, we | :07:50. | :07:54. | |
hope that will continue as long as the economy continues to improve. | :07:54. | :07:58. | |
But with millions of home owners still struggling with their | :07:58. | :08:01. | |
mortgages, a sustained recovery for the wider US economy could be out | :08:01. | :08:09. | |
of reach. Volkswagen, the world's second | :08:10. | :08:14. | |
largest carmaker, is expected to report a fall in second-quarter | :08:14. | :08:18. | |
operating profits, even though Audi is doing well at the luxury end of | :08:18. | :08:25. | |
the market. It has been a challenging start of | :08:25. | :08:29. | |
the Year. Volkswagen's home market in Europe has been battered by the | :08:29. | :08:33. | |
debt crisis and slower economy. It still managed to sell over 2 | :08:33. | :08:37. | |
million cars around the world. This is the first time the two million | :08:38. | :08:47. | |
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quarter of an ear. Volkswagen is quarter of a year. It has a | :08:53. | :08:58. | |
particular focus on the Asian market now. The strong sales | :08:58. | :09:03. | |
figures are down to demand in China, North America and Russia. In fact, | :09:03. | :09:10. | |
sales in China are now more than double Volkswagen sales in Germany. | :09:10. | :09:14. | |
Having a range of friends right up to Lamborghini means that | :09:14. | :09:23. | |
Volkswagen can continue turning over no matter what conditions are. | :09:23. | :09:27. | |
Even though conditions might dent its bottom line out, it hopes for | :09:28. | :09:30. | |
continued economic improvements across the board. Every company | :09:30. | :09:34. | |
would love to have the struggle that Volkswagen is having - they | :09:34. | :09:37. | |
have everything lined up correctly, they are set to dominate the market. | :09:37. | :09:41. |