Browse content similar to 20/06/2012. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
tackling its debt crisis. Those are the latest headlines. -- priest. | :00:05. | :00:15. | |
:00:15. | :00:18. | ||
Time for more financial news in Hello and a warm welcome. The | :00:18. | :00:24. | |
headlines: At the G20 meeting in Mexico, European leaders tried to | :00:24. | :00:30. | |
reassure the rest of the world they can fix the debt crisis. We will | :00:30. | :00:34. | |
find out today at the US Federal Reserve is planning another boost | :00:34. | :00:40. | |
for the World's largest economy. I am Rico Hizon in Singapore. A major | :00:41. | :00:46. | |
media deal is happening in this really good. News Limited makes a 2 | :00:46. | :00:56. | |
:00:56. | :01:00. | ||
billion dollar takeover bid for Good to have you with us. At the | :01:00. | :01:06. | |
G20 meeting in Mexico, Euros will leaders did their best to ensure | :01:06. | :01:15. | |
other countries that they were coping that the crisis. -- eurozone. | :01:15. | :01:20. | |
Francois Hollande also said the bidders would discuss using the | :01:20. | :01:26. | |
bail-out fund to buy up debt from struggling nations. -- leaders. Our | :01:26. | :01:31. | |
correspondent has more. What those attending the summit, the risks | :01:31. | :01:36. | |
were clear. Failure to deal with the debt crisis could push the | :01:36. | :01:41. | |
global economy back into recession. It would be the second in four | :01:41. | :01:46. | |
years. It would add to the pressure on European leaders. Spain is | :01:46. | :01:49. | |
finding it increasingly difficult to persuade investors to back its | :01:49. | :01:58. | |
debt. By Tuesday, it had to raise for the money. Given how high the | :01:58. | :02:05. | |
stakes are, what was achieved? -- For the Money. Are we any closer to | :02:05. | :02:13. | |
moving towards integration of the banking system? After the summit, | :02:13. | :02:17. | |
Barack Obama said that the single currency union was one that had | :02:17. | :02:21. | |
been set up without the necessary bells and whistles but this problem | :02:21. | :02:25. | |
was being addressed. European leaders are also apparently | :02:26. | :02:30. | |
considering buying up the debt of other distressed European countries. | :02:30. | :02:35. | |
If true, this would be a change in position for Germany. Apparently | :02:35. | :02:41. | |
Italy suggested the use of the rescue fund and France's Francois | :02:41. | :02:47. | |
Hollande said that this was an idea worth exploring. No doubt we will | :02:47. | :02:56. | |
hear more about this later. There has been growing optimism on the | :02:56. | :03:00. | |
financial markets that the US Federal Reserve might take action | :03:00. | :03:05. | |
to boost the EU economy. We will find out if that optimism is | :03:05. | :03:11. | |
justified later today. There is certainly concern in the United | :03:11. | :03:19. | |
States about flagging growth and high unemployment levels. Our | :03:19. | :03:25. | |
correspondent reports from Washington. The Bank of the central | :03:25. | :03:30. | |
bank does not look like a knight in shining armour. Many in the markets | :03:30. | :03:34. | |
are counting on him to write to the rescue of the struggling economy. | :03:34. | :03:41. | |
That's right. The US jobs market is weak. Industrial production is down. | :03:41. | :03:50. | |
The debt crisis is casting a long shadow. Experts remain divided on | :03:50. | :03:55. | |
whether the situation has got a bad enough to close the central bank to | :03:55. | :04:00. | |
intervene with new stimulus measures. Some believe that policy | :04:00. | :04:07. | |
makers are boarded enough to act now. I think they can sense anxiety. | :04:07. | :04:12. | |
I think they know that the economy has been weaker than what they | :04:12. | :04:22. | |
forecast three years in a row. That is unprecedented. I think they are | :04:22. | :04:30. | |
wondering what else they can do. Can they do it? What are the | :04:30. | :04:39. | |
politics? The most likely option is extending the current programme. It | :04:39. | :04:46. | |
is intended to lower long-term interest rates. A decision about | :04:46. | :04:50. | |
what action to take will be known at the end of the meeting with the | :04:50. | :04:57. | |
policy makers. All eyes are on the Federal Reserve, the central bank. | :04:57. | :05:03. | |
Republicans in Congress sate it has already done too much. Markets are | :05:03. | :05:08. | |
seeing it has not done enough. Amid all these competing pressures, the | :05:08. | :05:18. | |
Federal Reserve will have to decide which way it jumps later today. | :05:18. | :05:22. | |
Rupert Murdoch's plan to expand News Corp in the UK has been | :05:22. | :05:28. | |
frustrated by the phone tapping scandal. He is expected to expand | :05:28. | :05:34. | |
elsewhere. There is a deal underway in Australia. Rico Hizon has more | :05:34. | :05:42. | |
details. What is he up to? He wants to expand his media footprint in | :05:42. | :05:48. | |
Australia. The Australian arm of News Corp has made a 2 billion | :05:48. | :05:54. | |
dollar offer for a full takeover of Has alluded Nadir Holdings which is | :05:54. | :06:04. | |
:06:04. | :06:05. | ||
owned by James Packard. -- Consolidated Media Holdings. This | :06:05. | :06:10. | |
would give them a large amount of control over paid television. James | :06:10. | :06:17. | |
Packard has said he will support the move. Breaking a den, -- | :06:18. | :06:27. | |
:06:28. | :06:30. | ||
50 % stake in Fox boards. News Corp holds a share. Fox Sports is a 50- | :06:30. | :06:37. | |
50 partnership. According to analysts, the move to unload the | :06:37. | :06:41. | |
media business means that James Packard and refocus his resources | :06:41. | :06:48. | |
in casinos. He is a billionaire. He has stakes in casinos in London and | :06:48. | :06:58. | |
:06:58. | :06:58. | ||
Las Vegas are amongst other places. The News Corp board must approve | :06:58. | :07:06. | |
this. This would be a major deal for them. We will keep an eye on | :07:06. | :07:10. | |
that story. You would think that the debt crisis would put anyone | :07:10. | :07:14. | |
off investing in the eurozone. Investment from overseas into the | :07:14. | :07:20. | |
region last year, according to Ernst and Young, went up. The | :07:20. | :07:26. | |
results of their story showed 4,000 projects were funded by overseas | :07:26. | :07:31. | |
funds in 2011. That is an increase of two percent on the year before. | :07:31. | :07:36. | |
The US is the biggest investor, with more than 1,000 schemes. We | :07:36. | :07:42. | |
can speak to the head of Ernst and Young's advisory service now. He | :07:42. | :07:49. | |
wrote this support for us. Thank you for being in the programme. -- | :07:49. | :07:55. | |
on the programme. Investment is on the rise, why? Despite the doom and | :07:56. | :08:02. | |
gloom and a crisis, there is a confidence in you that's ability in | :08:02. | :08:09. | |
the long term to sustain growth and largest economy in the world. The | :08:09. | :08:19. | |
:08:19. | :08:26. | ||
two percent of the wealth is there. Investors like that. They do not | :08:26. | :08:32. | |
ignore the crisis. And these are individuals, organisations who are | :08:32. | :08:37. | |
investing for a long period of time. The US is a big investor. Where | :08:37. | :08:42. | |
else is investment coming from? Emerging markets are not only | :08:42. | :08:48. | |
critical as markets. They are the source of many other factors. | :08:48. | :08:52. | |
Investment projects have been increased by 22 % by the Chinese. | :08:52. | :08:58. | |
They are investing in large numbers in the UK, Germany, France and | :08:58. | :09:06. | |
southern Europe. They want to establish a long-term presence, | :09:06. | :09:12. | |
acquired brands, acquire technology. They want to boost their domestic | :09:12. | :09:19. | |
brand. brand. That is encouraging to here. | :09:19. | :09:26. | |
Thank you. That is encouraging, isn't it? Let's look at the markets. | :09:26. | :09:32. | |
Behind me, you can see gains across the board. A lot of this is in | :09:32. | :09:36. | |
anticipation that the Federal Reserve may take further action to | :09:36. | :09:42. |