Browse content similar to 25/06/2012. Check below for episodes and series from the same categories and more!
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decade. Those are the latest headlines. It is time now for the | :00:03. | :00:13. | |
money news, here is World Business Report. | :00:13. | :00:19. | |
A warm welcome to World Business Report. Headlines: Germany's | :00:20. | :00:23. | |
finance minister says Greece has not tried enough to sort out its | :00:23. | :00:29. | |
problems. The Finance Minister is set to | :00:29. | :00:33. | |
unveil new measures today to boost the weak rupiah currency and the | :00:33. | :00:37. | |
economy. Plans for US healthcare could be | :00:37. | :00:44. | |
derailed this week. We see what US businesses make of so-called | :00:44. | :00:53. | |
ObamaCare. Good to have you with us. Germany's | :00:53. | :00:56. | |
Finance Minister has said Greece has not tried hard enough to sort | :00:56. | :01:00. | |
had its financial problems in an interview on German television. He | :01:00. | :01:05. | |
said that Greece has not fulfilled promises. Those comments do not | :01:05. | :01:08. | |
bode well for the Greek government which would like to have the terms | :01:08. | :01:12. | |
of its most recent bailout East. Those negotiations will be delayed | :01:12. | :01:19. | |
as the Greek Prime Minister's recovers from an eye surgery. | :01:19. | :01:22. | |
The uncertainty is heading Greek business. | :01:22. | :01:26. | |
News that Greece is keeping the euro for now has been a relief for | :01:26. | :01:32. | |
business but it hasn't boosted local demand. It's a hand to mouth | :01:32. | :01:38. | |
existence. They later returned to the drachma cannot be ruled out. | :01:38. | :01:42. | |
Local businesses cannot look to their bank to supply cash. | :01:42. | :01:48. | |
Business he really does face a long list of unknowns. For a start - the | :01:48. | :01:52. | |
four main banks are technically insolvent. There is a lot of | :01:52. | :01:59. | |
concern over contracts. If there is an unruly Euro exit, some companies | :01:59. | :02:07. | |
might be forced to use barter. This is made here, in Greece. In a smart | :02:07. | :02:11. | |
industrial unit, the successful provider of office fittings is | :02:11. | :02:16. | |
great for that its German partners continued to send in components. It | :02:16. | :02:21. | |
says the last year has shown that only the strong can survive. | :02:21. | :02:25. | |
don't have the resources now - companies here cannot hold on | :02:25. | :02:29. | |
another six or seven months. We are not sure of the banks will support | :02:29. | :02:36. | |
us. D using money overseas when you can to be safe? -- do you send. | :02:36. | :02:41. | |
have done some of that, but I cannot say that we are panicking... | :02:41. | :02:45. | |
Everything out of Greece, know. But you cannot do business here when it | :02:45. | :02:50. | |
is an unstable environment and you don't know how many months or years | :02:50. | :02:57. | |
will be left. I think we must move, yes. We must move. The election has | :02:57. | :03:01. | |
cleared the political air, but one week after the vote mini economic | :03:01. | :03:09. | |
problems remain unresolved. -- many economic. | :03:10. | :03:15. | |
The Indian government is concerned with the slump in the rupiah. The | :03:15. | :03:19. | |
government says it is planning to do something about it. We are in | :03:19. | :03:24. | |
Singapore with the details. This has been a trend for the year. It | :03:24. | :03:32. | |
has hit a record low now, hasn't That right. You have the finance | :03:32. | :03:36. | |
minister saying over the weekend that he and the government will | :03:36. | :03:41. | |
unveil key measures today to boost the currency. It fell to a record | :03:41. | :03:48. | |
low on Friday. 57.32 against the US dollar. It is now rallying by about | :03:48. | :03:51. | |
half a rupee against the green back because of possible moves to | :03:51. | :03:55. | |
intervene in the present market. The finance minister did not | :03:55. | :03:58. | |
specify what the initiatives are but he said the government | :03:59. | :04:01. | |
discussed the situation with the Central Bank governor and both of | :04:01. | :04:04. | |
them, the government and the Central Bank, will be taking | :04:04. | :04:08. | |
measures to improve market conditions. According to reports in | :04:08. | :04:13. | |
the Indian media, some of the key initiatives may include interest | :04:13. | :04:16. | |
relief for exporters and increasing the cap for foreign investors | :04:16. | :04:21. | |
buying corporate and government bonds. Analysts say a higher than | :04:21. | :04:24. | |
it will help the country attract more foreign exchange, thereby | :04:24. | :04:28. | |
providing support for the very weak Indian rupee. | :04:28. | :04:33. | |
Before you go, tell us about Billabong. It's quite a well-known | :04:33. | :04:40. | |
brand. It originates in Australia, its shares are under pressure? | :04:40. | :04:45. | |
Yes, they are in big trouble with their shareholders. Shares of the | :04:45. | :04:49. | |
surf wear manufacturer are plunging after launching plans to sell new | :04:49. | :04:53. | |
shares at a heavily discounted price after cutting its earlier | :04:53. | :04:58. | |
forecast. The stock price fell as much as 49% today on the Australian | :04:58. | :05:02. | |
Stock Exchange after the firm launched a rights issue at the very | :05:02. | :05:06. | |
steep 44% discount to its closing price last week. The firm has also | :05:06. | :05:11. | |
been trying to raise new capital in the bid to pay off its debt. It has | :05:11. | :05:15. | |
been hit as well with falling sales. The firm has also come under severe | :05:16. | :05:19. | |
criticism for launching the discount share price, not least | :05:19. | :05:23. | |
because of the rejection of a takeover offer early in the ear. In | :05:23. | :05:27. | |
February you had a large private equity firm offering three | :05:27. | :05:34. | |
Australian dollars per share to take over the company. Currently | :05:34. | :05:41. | |
Billabong's shares are under one Australian dollar per share. | :05:41. | :05:45. | |
America's Supreme Court is expected to rule this week over the legality | :05:45. | :05:48. | |
of President Barack Obama's Health Care all. The law was designed to | :05:48. | :05:52. | |
extend health insurance cover to 30 million people who do not have it. | :05:53. | :05:56. | |
It's not just those individuals who have a lot at stake - employers | :05:56. | :06:05. | |
have a lot riding on whether this flagship trial is left to stand. | :06:05. | :06:10. | |
It has come to be known as ObamaCare, the affordable care act | :06:10. | :06:14. | |
aims to extend Medicare treatment at reasonable cost to virtually all | :06:14. | :06:19. | |
Americans. This company makes high it end doors and cabinets in New | :06:19. | :06:24. | |
Jersey. The boss hopes the Supreme Court will not dismantle President | :06:24. | :06:29. | |
Barack Obama's health reform. He says it will reduce the cost of | :06:29. | :06:36. | |
buying health cover. It lowers our costs. That is in part because the | :06:36. | :06:40. | |
law spreads risk and because it allows small businesses to pull | :06:40. | :06:43. | |
together and purchase health insurance the way huge corporations | :06:43. | :06:49. | |
purchase it. They pay, on average, 18% less than individual and small | :06:49. | :06:53. | |
business purchasers do. The small business support ObamaCare. Many | :06:53. | :06:57. | |
other firms take the opposite view. They are worried about intrusive | :06:57. | :07:03. | |
government regulation, at extra hassle and possibly increased costs. | :07:03. | :07:07. | |
Polls suggest that business opinion is pretty evenly divided. One thing | :07:07. | :07:17. | |
is certain, though. Passions on both sides are running high. | :07:17. | :07:21. | |
(CHANTING). Passions have led to protests. The issue at stake before | :07:21. | :07:25. | |
the Supreme Court is whether Americans can be compelled by law | :07:25. | :07:29. | |
to purchase health insurance. Supporters of the individual | :07:29. | :07:38. | |
mandate, a as it is called, believe this is critical to the success, | :07:38. | :07:42. | |
but others say it may not be a make-or-break issue. One of the | :07:42. | :07:46. | |
concerns is that insurance premiums may rise if the individual mandate | :07:46. | :07:48. | |
is struck down because it could be the healthiest people who do not | :07:48. | :07:54. | |
buy insurance and then premiums might go up. We didn't find that to | :07:54. | :07:58. | |
be a large effect - we found an increase in premiums, but only | :07:58. | :08:01. | |
about 2-3 %. For this business, a court ruling against President | :08:01. | :08:05. | |
Barack Obama's health reforms would make the scheme rougher around the | :08:05. | :08:10. | |
edges and more expensive. But the underlying structure would probably | :08:10. | :08:18. | |
remain intact. Other business stories court for | :08:18. | :08:21. | |
the first time in its history, NatWest opened its branches on | :08:21. | :08:24. | |
Sunday. The bank was trying to compensate for a computer failure | :08:24. | :08:30. | |
that caused severe disruption for customers. RBS, which owns NatWest, | :08:30. | :08:34. | |
said that services should be more or less back to normal today. | :08:34. | :08:44. | |
:08:44. | :08:45. | ||
Reports say that the world's bigger -- biggest brewer, is looking to | :08:45. | :08:53. | |
take over Mexico's Corona.... Delays to the construction of | :08:53. | :08:57. | |
Berlin's new airport will cost an extra $1.5 billion. Officials said | :08:57. | :09:02. | |
that the airport, which is 1.5 years behind schedule, will now | :09:02. | :09:12. | |
:09:12. | :09:13. | ||
cost $5 billion. It's due to open in March of next year. | :09:13. | :09:17. | |
A mixed picture on the markets today. Three days of declines for | :09:17. | :09:21. | |
the major markets. Mining companies are leading the declines. Samsung | :09:21. | :09:25. | |
is under a lot of pressure in South Korea, bringing down the Kospi. The | :09:25. | :09:31. | |
reason for the mixed news - they are looking forward to the EU | :09:31. | :09:35. | |
summit at the end of this week. They will gather together to | :09:35. | :09:38. | |
discuss the eurozone crisis. We talked about the comments coming | :09:38. | :09:42. | |
from Germany over the weekend - that does not bode well for the new | :09:42. | :09:45. |