23/07/2012 World Business Report


23/07/2012

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says that every one of the six UN violations against children have

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been breached. For the latest financial news, here

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it is World Business Report. Welcome. The Euro hits an 11-year

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low against the yen as worries grew over the European debt crisis.

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The Asian stock markets are being hurt by Spain's debt problems and a

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persistent worries about China's economic slowdown.

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Only five days left to the Olympics. Why some London businesses are not

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happy. The euro has fallen to an 11-year

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low against the yen amid fears that debt problems in Spain are

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worsening. The euro fell to 94.91 yen in early trade, its lowest

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since November 2000. Spain's Valencia region requested help from

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the government. That resulted in Madrid's borrowing cost shooting up

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to levels regarded as unsustainable in the long run. The stock markets

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in Asia do not like this story either, do they?

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Absolutely not. It continues to be bad news. These are recurring

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themes that are hurting the markets. Spain, Italy, Greece - you still

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have the persistent worries about China's economic slowdown. You have

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stock markets in Japan, Australia, China, down more than 1%. Stocks in

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South Korea, Taiwan and Hong Kong are law by over 2%. This string of

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reports over the weekend are undermining a fragile investor

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sentiment -- lower. Asian auto and technology exporters are expected

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to report strong earnings later this week but will be overshadowed

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by these weak economic conditions. Not only in the eurozone, but in

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the United States. There is something of a bidding war

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brewing over their over beer? That's right. You had a bidding war

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on Friday for the Asia-Pacific Rorys. The stock is bucking the

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downward trend. There is a takeover offer from Heineken. The share

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price surged by nearly 20% after the Dutch company offered almost $6

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billion for a controlling stake of the company which makes the popular

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Tiger beer brand. The Singapore conglomerate whose joint venture

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with Heineken has a 65% ruling stake in the company also went up

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by 5% today. This bidding war could raise the stakes. Heineken's rivals

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are looking into the company as well. Both drinking giants are

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likely to make a competitive bid and potentially take control of a

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beer empire that stretches from Mongolia to New Zealand.

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The reverberations of that Euro drop are being felt on the other

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side of the Atlantic as well. On Friday the US guitar maker Fender

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cited uncertainty in Europe... The crisis has been blamed for damaging

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profits and delaying America's recovery. We are looking at the

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impact of Europe's troubles on US companies from cars to construction.

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Europe's troubles are taking a big bite out of profits. Ford has

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warned that losses at its international operations would

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triple, with Europe accounting for most of that. The downward spiral

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in European car sales is in sharp contrast to the US, where sales

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have rebounded. The US is back to healthy profit margins, rising

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sales. Europe didn't have a sales crisis like we did in North America.

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As of right now,... Lack of demand is not the only

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issue. Take caterpillar - staff are making small loaders for export

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around the globe. The fall of the euro may reduce the value of

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earnings there when they are converted back into dollars. Europe

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is not the only trouble spot. companies are saying is that Europe

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is their toughest economic region going into the second half of the

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year. While Europe is the red flag, but there are also a yellow flags

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in China and America. It is not only Europe. Against this backdrop,

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some fear this is shaping up to be the worst burning season since the

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second half of 2009. -- earning. Corporate America has a lot of

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reasons to feel cautious right now. For investors who would like to see

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share prices go up, and for those who would like to see jobs created,

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this does not augur well. Philips are reporting in about 20

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minutes. Last time, the world's largest lighting Company and

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Europe's largest manufacturer of consumer products reported profits

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that defeated analyst efforts after cutting costs and selling assets.

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The April outlook for the rest of 2012 remain worrying because of the

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weak global economy. The French Prime Minister will meet

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six Ron's chief executive later today amid growing negotiations

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between the two met sides... There is a government package for the car

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sector due to be unveiled this week. Europe's second largest car

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manufacturer cut 8,000 jobs and closed an assembly plant.

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A global survive and rich elite had at least 21 trillion US dollars

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hidden in secret by 20 -- a secret tax havens by the end of 2010. This

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is the size of the American and Japanese economies combined. This

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was written by an analyst at the consultancy firm McKinsey.

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The International Monetary Fund, the World Bank and national

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governments... With just four days until the

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Olympic Games, hundreds of thousands of visitors have arrived

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in Britain's capital city. That will have a huge impact on London's

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businesses, both big and small. Are they ready for the challenges?

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From industrial wasteland to Olympic Park. The world's biggest

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sporting event is about to begin. What about the thousands of

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businesses in the shadow of the Olympic park? How will they cope?

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It is clear - not all of them are happy.

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From his warehouse, food is being sent out to caterers and big hotels

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across London and beyond. His company's main access road is about

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to close and deliveries will be disrupted. The boss has been

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campaigning for compensation. main access road is closed 24 hours

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a day. What they have suggested is that vehicles go around there. I

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can't even advise our suppliers had to getting from there. I can't tell

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them what will happen. What does this mean? We may not be able to

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replenish goods, we may not be able to keep out that customers. The

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customers will go elsewhere, the best of them. Head south and you

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reach Canary Wharf, a vast business district. How do you keep his place

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going when there are 20 Olympic venues within three miles? We are a

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small city within a city. I met the man whose job it is to make sure

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Canary Wharf stays open for business. It's been a huge

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challenge for us, looking at how we take 100,000 people here and trying

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to get up to 25% of them not travelling at peak times. We have

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worked with the companies over the past five years, looking at ways

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which people could change their hours, work from home, take a

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holiday - to make sure at those peak hours we reduce numbers. We

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are confident that we are in good shape now. We think we are ready.

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They will need to be. There is not much time left until the Olympics

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begin. Then we will find out how London and its businesses will

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really cope. Let's get a quick look at the

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markets. As you can see, Asian stocks are down. There are growing

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concerns that Greece might exit the euro and Chinese growth will slow

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for a seventh straight quarter down to 7.4%. That is according to a

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