25/05/2012 World Business Report


25/05/2012

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Those are the latest headlines. Now, for a look at moves to increase

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online privacy and the rest of the financial means, it is time for

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World Business Report. Welcome. New UK privacy rules that

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could stop firms from spying on your computer.

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At in Hong Kong, shareholders of Alibaba the Greek to make the

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company private. Two online retailers call it

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personalisation. Some others call it spying. Software that tracks

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will every click on internet and sends it to firms trying to sell

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you their goods. The UK becomes one of the first to enforce the new

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rules. From this weekend, internet users will have the power to stop

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companies from gathering data on them. But some retailers and firms

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warned the move could hurt the business. The is is something that

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many would have come across online. -- this is something. You browse

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for cheap holiday flights and on subsequent visits, you are assailed

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by other companies who you have not got in contact with but had somehow

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found out about your once. A lot of people believe this is a form of

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corporat law says website operators muds -- must

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allow users to block the data gathered while they browse. That

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data is known as cookies. Online retailers say it is too heavy

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handed. They say the information is used internally to measure how well

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their websites are working. Without it, says one online market, the

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retail would suffer. We are designing the wet side blind. We

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may come up with a new way of laying out information and find

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nobody is coming to the website. -- the website. It may be that the

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service is not suitable for our client base but we have no way of

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tracking that. One way forward site operators to comply with the law is

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to ask use -- asked uses for permission. Another method is to

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warn that data will be stored unless they click on a link and

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change their privacy settings. Most users will probably not do this so

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this is the method most will probably use. We all use things

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like Google and Facebook. Newspapers, magazines, they are all

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free, thanks to the use of certain technologies that allow them to

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exploit information they collect. Not being able to fully used that

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of technology has a direct impact on the business. It is these big

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websites that under most pressure to comply with the cookies' law

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because they are likely to be the ones the privacy authority checks

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upon first. Other news, on Friday the chief of

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the Spanish when the Bank has expected to tell his board the

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group will need nearly twice the bail-out money discussed by the

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government. Some 15 billion euros, according to the reports. One in

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ten Spaniards has savings with and here but it is close to insolvency

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due to huge losses. The group is part owned by Spanish taxpayers,

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following a 4.5 billion euros bail- out earlier in the month.

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Facebook investors could get some of their money back following a

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technical glitch which delayed their trading debut in New York

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last Friday. The main broker is sorting through more than one

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million trades manually to see who was affected. The broker is also

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fighting two lawsuits over changes to its guidance on Facebook, just

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days before the sale. Some investors say they were not

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informed of a downgrade in Facebook's revenue.

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Independent shareholders have voted to privatise Alibaba .com and

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remove its shares from the London Stock Exchange. There are reports

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that China's state owned wealth fund is in advanced talks to buy a

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$2 billion stake in Alibaba. Our correspondent has more. This is a

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company who is partly held by Yahoo and wants to buy that back and take

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itself of the market? That is right. Ali Dubbo .com is

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the only listed portion of the massive Alibaba group. -- Alibaba.

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That group is estimated at up to $50 billion at the moment. It is

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the group that made this offer to Independent shareholders in, hop --

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in Hong Kong to buy back their shares. That was $13.50 for a

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reasonable sum. It seems investors are not making any money off this.

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Even though most of them have agreed to sell those shares back to

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the Alibaba group. The website was the first company founded by the

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founder who was in America on a business trip. He was looking for

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Chinese beer on intimate and could not find it. He therefore found

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this company with links people who want to buy to people who want to

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sell. Those are factories outside of China. This is the company that

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started it all and now it looks like he wants to consolidate his

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control over the entire group and possibly take it public at some

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point. Where is the money coming from? The

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group or are they looking for individual investors?

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The group has already agreed to put up this money. The deal is worth

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about $2.5 billion US. Alibaba group will give that to the

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minority shareholders, and once that is done, the company will then

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be delisted some time this summer. Thank you. Trade between Africa and

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China is now thought to be worth about $160 billion every year. But

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as the relationship between the two develops beyond raw-materials, it

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is bringing tensions as well as benefits. One flash point has been

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cheap Chinese textiles which some African companies say is good in

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and out of business. This week, Nigeria rested many Chinese textile

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traders and threatened to deport them. This report from Shanghai.

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This is the financial heart of an economic superpower. Shanghai is

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home to 23 million people. Its rapid expansion reflects the growth

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of the national economy. That growth is fuelled by raw-materials

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and new markets. Africa is rich in both. The strength of this giant

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economy is linked in many ways to the fate of another waking giant,

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the African economy. That means an increasing number of people see

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that if they can be secured their future in this new age, they have

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to think of time as more than just a source of investment. Shanghai

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liberty apparel is co-owned by one man who has taken that lesson very

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much to heart. This man turns out clothing and textiles for the

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international brands. -- beak. He even export back to his home

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country, Zambia. I do business in China because it is so -- so much

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more convenient. The infrastructure is so good that from point A to

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point B, it is easier. Despite the sheer convenience, he is still a

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firm believer of the economy back home and says trade between China

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and Africa is essential. Africans need to invest here. They need

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improve the level. If China is doing this, why not? But to cross

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the globe in Cape Town, the flipside of Chinese exports. This

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factory is closing down after 100 years in business. The owners are

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blaming cheap goods from China. South African manufacturers say

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they are being strangled by trade with China. They are cut in pay for

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new employees by 30%. -- cut in pay. In the industrial area, we have

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seen more than 120,000 jobs lost over five years. There is no way

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you can compete with China. We uphold labour standards and that is

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why we will never be able to compete with China or India. We

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should keep them out of our markets. Despite those concerns, China is

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now Africa's biggest trading partner. In a world hungry for

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growth, those links seem desperate to grow even stronger.

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-- destined. Taking a look at what has been

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happening on the market in a second. But for more on Africa's trade with

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China, tune into a special edition of the African Business Report from

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Shanghai, this weekend on BBC World News at these times, coming up on

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