Browse content similar to 23/07/2012. Check below for episodes and series from the same categories and more!
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says that every one of the six UN violations against children have | :00:02. | :00:08. | |
been breached. For the latest financial news, here | :00:08. | :00:18. | |
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it is World Business Report. Welcome. The Euro hits an 11-year | :00:20. | :00:27. | |
low against the yen as worries grew over the European debt crisis. | :00:27. | :00:32. | |
The Asian stock markets are being hurt by Spain's debt problems and a | :00:32. | :00:37. | |
persistent worries about China's economic slowdown. | :00:37. | :00:41. | |
Only five days left to the Olympics. Why some London businesses are not | :00:41. | :00:51. | |
:00:51. | :00:53. | ||
happy. The euro has fallen to an 11-year | :00:53. | :00:57. | |
low against the yen amid fears that debt problems in Spain are | :00:57. | :01:03. | |
worsening. The euro fell to 94.91 yen in early trade, its lowest | :01:03. | :01:10. | |
since November 2000. Spain's Valencia region requested help from | :01:10. | :01:15. | |
the government. That resulted in Madrid's borrowing cost shooting up | :01:15. | :01:23. | |
to levels regarded as unsustainable in the long run. The stock markets | :01:23. | :01:28. | |
in Asia do not like this story either, do they? | :01:28. | :01:32. | |
Absolutely not. It continues to be bad news. These are recurring | :01:32. | :01:39. | |
themes that are hurting the markets. Spain, Italy, Greece - you still | :01:39. | :01:44. | |
have the persistent worries about China's economic slowdown. You have | :01:44. | :01:51. | |
stock markets in Japan, Australia, China, down more than 1%. Stocks in | :01:51. | :01:59. | |
South Korea, Taiwan and Hong Kong are law by over 2%. This string of | :01:59. | :02:02. | |
reports over the weekend are undermining a fragile investor | :02:02. | :02:10. | |
sentiment -- lower. Asian auto and technology exporters are expected | :02:10. | :02:14. | |
to report strong earnings later this week but will be overshadowed | :02:14. | :02:19. | |
by these weak economic conditions. Not only in the eurozone, but in | :02:19. | :02:26. | |
the United States. There is something of a bidding war | :02:26. | :02:33. | |
brewing over their over beer? That's right. You had a bidding war | :02:33. | :02:42. | |
on Friday for the Asia-Pacific Rorys. The stock is bucking the | :02:42. | :02:46. | |
downward trend. There is a takeover offer from Heineken. The share | :02:46. | :02:52. | |
price surged by nearly 20% after the Dutch company offered almost $6 | :02:52. | :02:55. | |
billion for a controlling stake of the company which makes the popular | :02:55. | :03:01. | |
Tiger beer brand. The Singapore conglomerate whose joint venture | :03:01. | :03:06. | |
with Heineken has a 65% ruling stake in the company also went up | :03:06. | :03:15. | |
by 5% today. This bidding war could raise the stakes. Heineken's rivals | :03:15. | :03:18. | |
are looking into the company as well. Both drinking giants are | :03:18. | :03:22. | |
likely to make a competitive bid and potentially take control of a | :03:22. | :03:29. | |
beer empire that stretches from Mongolia to New Zealand. | :03:29. | :03:33. | |
The reverberations of that Euro drop are being felt on the other | :03:33. | :03:41. | |
side of the Atlantic as well. On Friday the US guitar maker Fender | :03:41. | :03:47. | |
cited uncertainty in Europe... The crisis has been blamed for damaging | :03:47. | :03:53. | |
profits and delaying America's recovery. We are looking at the | :03:53. | :03:58. | |
impact of Europe's troubles on US companies from cars to construction. | :03:58. | :04:02. | |
Europe's troubles are taking a big bite out of profits. Ford has | :04:02. | :04:06. | |
warned that losses at its international operations would | :04:07. | :04:11. | |
triple, with Europe accounting for most of that. The downward spiral | :04:11. | :04:15. | |
in European car sales is in sharp contrast to the US, where sales | :04:15. | :04:21. | |
have rebounded. The US is back to healthy profit margins, rising | :04:21. | :04:28. | |
sales. Europe didn't have a sales crisis like we did in North America. | :04:28. | :04:36. | |
As of right now,... Lack of demand is not the only | :04:36. | :04:43. | |
issue. Take caterpillar - staff are making small loaders for export | :04:43. | :04:48. | |
around the globe. The fall of the euro may reduce the value of | :04:48. | :04:51. | |
earnings there when they are converted back into dollars. Europe | :04:51. | :04:55. | |
is not the only trouble spot. companies are saying is that Europe | :04:55. | :04:58. | |
is their toughest economic region going into the second half of the | :04:58. | :05:07. | |
year. While Europe is the red flag, but there are also a yellow flags | :05:07. | :05:12. | |
in China and America. It is not only Europe. Against this backdrop, | :05:12. | :05:15. | |
some fear this is shaping up to be the worst burning season since the | :05:15. | :05:25. | |
second half of 2009. -- earning. Corporate America has a lot of | :05:25. | :05:29. | |
reasons to feel cautious right now. For investors who would like to see | :05:29. | :05:32. | |
share prices go up, and for those who would like to see jobs created, | :05:32. | :05:42. | |
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this does not augur well. Philips are reporting in about 20 | :05:44. | :05:47. | |
minutes. Last time, the world's largest lighting Company and | :05:47. | :05:51. | |
Europe's largest manufacturer of consumer products reported profits | :05:51. | :05:57. | |
that defeated analyst efforts after cutting costs and selling assets. | :05:57. | :06:01. | |
The April outlook for the rest of 2012 remain worrying because of the | :06:01. | :06:09. | |
weak global economy. The French Prime Minister will meet | :06:09. | :06:17. | |
six Ron's chief executive later today amid growing negotiations | :06:17. | :06:22. | |
between the two met sides... There is a government package for the car | :06:22. | :06:27. | |
sector due to be unveiled this week. Europe's second largest car | :06:27. | :06:32. | |
manufacturer cut 8,000 jobs and closed an assembly plant. | :06:32. | :06:36. | |
A global survive and rich elite had at least 21 trillion US dollars | :06:36. | :06:46. | |
hidden in secret by 20 -- a secret tax havens by the end of 2010. This | :06:46. | :06:51. | |
is the size of the American and Japanese economies combined. This | :06:51. | :06:59. | |
was written by an analyst at the consultancy firm McKinsey. | :06:59. | :07:03. | |
The International Monetary Fund, the World Bank and national | :07:03. | :07:07. | |
governments... With just four days until the | :07:07. | :07:10. | |
Olympic Games, hundreds of thousands of visitors have arrived | :07:10. | :07:15. | |
in Britain's capital city. That will have a huge impact on London's | :07:15. | :07:25. | |
:07:25. | :07:26. | ||
businesses, both big and small. Are they ready for the challenges? | :07:26. | :07:29. | |
From industrial wasteland to Olympic Park. The world's biggest | :07:29. | :07:33. | |
sporting event is about to begin. What about the thousands of | :07:33. | :07:37. | |
businesses in the shadow of the Olympic park? How will they cope? | :07:37. | :07:42. | |
It is clear - not all of them are happy. | :07:42. | :07:47. | |
From his warehouse, food is being sent out to caterers and big hotels | :07:47. | :07:53. | |
across London and beyond. His company's main access road is about | :07:53. | :07:58. | |
to close and deliveries will be disrupted. The boss has been | :07:58. | :08:03. | |
campaigning for compensation. main access road is closed 24 hours | :08:03. | :08:10. | |
a day. What they have suggested is that vehicles go around there. I | :08:10. | :08:14. | |
can't even advise our suppliers had to getting from there. I can't tell | :08:14. | :08:21. | |
them what will happen. What does this mean? We may not be able to | :08:21. | :08:27. | |
replenish goods, we may not be able to keep out that customers. The | :08:27. | :08:32. | |
customers will go elsewhere, the best of them. Head south and you | :08:32. | :08:37. | |
reach Canary Wharf, a vast business district. How do you keep his place | :08:37. | :08:42. | |
going when there are 20 Olympic venues within three miles? We are a | :08:42. | :08:47. | |
small city within a city. I met the man whose job it is to make sure | :08:47. | :08:50. | |
Canary Wharf stays open for business. It's been a huge | :08:50. | :08:54. | |
challenge for us, looking at how we take 100,000 people here and trying | :08:54. | :09:00. | |
to get up to 25% of them not travelling at peak times. We have | :09:00. | :09:02. | |
worked with the companies over the past five years, looking at ways | :09:02. | :09:06. | |
which people could change their hours, work from home, take a | :09:06. | :09:10. | |
holiday - to make sure at those peak hours we reduce numbers. We | :09:10. | :09:15. | |
are confident that we are in good shape now. We think we are ready. | :09:15. | :09:19. | |
They will need to be. There is not much time left until the Olympics | :09:19. | :09:23. | |
begin. Then we will find out how London and its businesses will | :09:23. | :09:30. | |
really cope. Let's get a quick look at the | :09:30. | :09:34. | |
markets. As you can see, Asian stocks are down. There are growing | :09:34. | :09:39. | |
concerns that Greece might exit the euro and Chinese growth will slow | :09:39. | :09:45. | |
for a seventh straight quarter down to 7.4%. That is according to a | :09:45. | :09:49. |