14/05/2012 World Business Report


14/05/2012

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72 civilians. Those are the latest headlines.

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

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This is World Business Report. The headlines: Crisis talks in

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Brussels: Eurozone finance ministers meet to discuss the

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political chaos in Greece. In Singapore, 80's economic powers

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to -- Asia's three main powers look to group together.

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Of and results from internet discount sight of Groupon put a

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gloss on the battered company's reputations.

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Once again Greece is the top of the agenda in Europe as the bail out

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programme hangs in the balance. Reports from Athens say the leader

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of the far-left party will not attend coalition talks later today,

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plunging the country into further political disarray. It takes Greece

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a step closer to a new elections. It is a difficult task ahead for

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the finance ministers? Yes, absolutely. It is very clear

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from what you hear from the European Commission, several

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bankers saying that Greece can leave the eurozone if it wants Joe,

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if it does not want to stick to the rules. -- if it wants to. This is

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the first time leaders have been so clever about the option. They are

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making the next election a referendum on the eurozone.

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It seems more likely there might be an exit, talk about changing the

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rules of the stability Programme and fiscal changes?

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Yes, absolutely. The left in Greece is banking on the fact that they

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hope Europe will budge. European leaders will backtrack and say, you

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can stay and we will change the rules. Portugal, Ireland and Spain

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might then ask for more lenient treatment as well. That is why

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Europe is making a stand on this one, not willing to budge. If they

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do it for Greece, they have to do with four other countries as well.

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-- do it for. You will lose discipline in the long run.

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Discussions on Greece will dominate do you think they will talk about

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Spain, its move to try to help its banks?

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Probably they will. Greece is a special case. In Spain. You face is

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the aftermath of a real-estate bubble which has turned into, it

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has become a problem for Europe. National bank regulators, national

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governments are responsible for potentially recapitalising banks.

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The Spanish real-estate problem becomes a Egg Banking problem in

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Spain, it affects the economy yet again. -- becomes a bank problem.

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They may try to do their best... Thank you very much.

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The online daily deals from Groupon will reveal how much money it made

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in the first quarter. The value of its shares has roughly halved since

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its high-profile market listing in November and the company recently

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had to revise its fourth-quarter results from last year. This

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triggered another tumble in share prices. A cautionary tale perhaps

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amid the euphoria associated with the Facebook launch.

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Every type of fish is on sale here. This daily uses the Groupon

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discount vouchers to find new customers. It has brought in new

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business but there is a note of caution. It works for my business.

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I do not need to hire extra staff to put up more product. It works

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that way for us but I have other stories, businesses going out of

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business because they have to hire more staff, it is a stranglehold.

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Businesses up and down the street are competing for customers. That

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is why some of them are using Groupon. It might have worked out

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for them but it has not been a good business model for Groupon. The

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company has grown very fast, to over 10,000 people in 48 nations.

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The cost of employing all of those salesmen to the crew to small

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companies is huge and rising. That is a concern. There is a

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possibility that they can never figure out how to be profitable

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over the long run. There is a lot of different scenarios that can

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happen. This man, founder and chief executive, also faces other

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problems. Groupon is being sued by shareholders after mistakes in its

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last accounts. For some, investing in this one-time wonder company is

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turning out to be less appetising than first appeared.

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It has been a long time coming. China, Japan and South Korea have

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signed a trade agreement. They had signed an agreement to have an

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agreement, is that right? That is right. Basically they have

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agreed to begin negotiations for a free-trade agreement but the three

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leaders also signed a bilateral investment a chord. -- trilateral

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investment accord. The leaders are quite confident that they will seal

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the deal sooner rather than later, Wen Jiabao saying they will unleash

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power in the region. It'll help countries at the time of rising

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trade protection. The Japanese prime minister says economic co-

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operation is essential. Trade between the three countries top

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about $700 billion in 2011. -- topped. A free-trade agreement is

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said to raise trade between the countries. The leaders also agreed

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to work together to ease regional disputes. Geopolitical tensions,

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specifically on the Korean peninsula.

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You can see the pictures of the top three leaders who had their meeting

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yesterday. Now who are as -- and Yahoo has announced its chief

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executive, Scott Thomson, is stepping down after a controversy

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over fake computer science college degree on his CV. That mistake was

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brought to light by a shareholder who is keen for the new members to

:09:15.:09:25.
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be appointed to the board of the company. Ross Levinsohn is taking

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over as interim chief executive. It is being reported three

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executives are to leave the US bank JP Morgan Chase. This follows the

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shock news on Friday that it lost $2 billion on risky trading

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