Browse content similar to 21/08/2012. Check below for episodes and series from the same categories and more!
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take up to six months. All eyes on whether the world's largest merger | :00:02. | :00:05. | |
between commodities giant Glencore and mining company Xstrata is still | :00:05. | :00:15. | |
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on the table when Glencore updates Back to business for Maruti, the | :00:29. | :00:33. | |
car maker resumes operations at its plant in india a month after a riot | :00:33. | :00:43. | |
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that left one worker dead and The ages him -- Asian stock markets | :00:49. | :00:58. | |
are rising and is hoped for action in Europe to solve the debt crisis. | :00:59. | :01:01. | |
It seems even the world's largest and most diversified commodity and | :01:01. | :01:08. | |
mining giant can't insulate itself from a slowing world economy. Today, | :01:08. | :01:11. | |
the Swiss multinational Glencore is forecast to announce a drop of | :01:11. | :01:14. | |
around a third in its first half profits to around one point six | :01:14. | :01:19. | |
billion dollars. Lower prices and falling demand for minerals remain | :01:19. | :01:25. | |
the main reasons for the expected fall. The company owns 34% of rival | :01:25. | :01:29. | |
mining group Xstrata, and is currently trying to buy the rest. | :01:30. | :01:34. | |
But its current offer has met with resistance. Here's our Europe | :01:34. | :01:44. | |
:01:44. | :01:44. | ||
business correspondent Nigel , was a hot commodity Beckington | :01:44. | :01:50. | |
$1,000 per tonne and no it's only $7,500. There have been strikes and | :01:50. | :01:57. | |
our problems. It's the output of commodities which as it is hard. As | :01:57. | :02:04. | |
a major mining company, the results are used all economic indicator. In | :02:04. | :02:10. | |
the last six months it's seen at 10% fall for prices in Copa, zinc | :02:10. | :02:14. | |
and Kohl which is a reflection of the fall in world growth. There is | :02:14. | :02:21. | |
no producer that able to buck the slack market. The commodity prices | :02:21. | :02:26. | |
have suffered this year as a result of the island and in China and | :02:26. | :02:34. | |
concerns in Europe slow growth in the US. We are less marl rubble to | :02:34. | :02:40. | |
those weaker prices. We have strict as the market leader and a trader. | :02:40. | :02:46. | |
One strategy much right at these price bumps and it is to borrow the | :02:46. | :02:54. | |
rest of Xstrata. It owns did it all%. It Xstrata shareholders are | :02:54. | :02:58. | |
asking for Walsh used to do this deal. But there is a breeze: But it | :02:58. | :03:04. | |
may stick to its bid be in dollars offer. Times are hard for commodity | :03:04. | :03:08. | |
producers. Maruti Suzuki will resume partial operations at its | :03:08. | :03:13. | |
Manesar plant in the Indian state of Haryana on Tuesday. It's over a | :03:13. | :03:16. | |
month since a riot by the workers claimed the life of a company | :03:16. | :03:19. | |
official, injured 100 others, and left a trail of destruction through | :03:19. | :03:29. | |
:03:29. | :03:31. | ||
the factory. Only 300 permanent workers will resume duty on Tuesday. | :03:31. | :03:38. | |
His is a significant dairy as the workers into the practical at first | :03:38. | :03:42. | |
I am our demands of close down following violent clashes between | :03:42. | :03:47. | |
management and staff. One manager was killed and 100 workers were | :03:47. | :03:52. | |
injured in a clash which left parts of these factory damaged. The | :03:52. | :03:57. | |
company will not take any more chances and has deployed security | :03:57. | :04:04. | |
officers or the managers and estate has deployed 500 armed police | :04:04. | :04:10. | |
border security. Production will only be partial with 300 employees | :04:10. | :04:16. | |
inside and they aim to produce 150 cars, which is just a fraction of | :04:16. | :04:22. | |
its capability. When it was fully functional they produced 1,500 cars | :04:22. | :04:30. | |
of the top selling has. It accounts for one-third of the capacity. | :04:30. | :04:39. | |
That's a very significant thing that they will presume to resume | :04:39. | :04:46. | |
production. You spoke about dropping the production levels and | :04:46. | :04:51. | |
the fact that only a skeleton sheet will work there at the factory. | :04:51. | :04:57. | |
Please remind us about the background of this, why did the | :04:57. | :05:04. | |
workers' strike in the first place? All but violence? The police are | :05:04. | :05:10. | |
still investigating. There has been simmering tension in the industrial | :05:10. | :05:19. | |
belt here. Many industries here employ contractors who are lowly | :05:19. | :05:24. | |
paid hand who are not given the same benefits as the pulled unstuck. | :05:24. | :05:31. | |
The root of this problem is the archaic labour laws which people | :05:31. | :05:36. | |
need to change. It makes it difficult or the manufacturers to | :05:36. | :05:43. | |
hire and fire employees or close down a factory. Many companies | :05:43. | :05:49. | |
import contractors who were easier to hand paid less with no benefits. | :05:49. | :05:56. | |
There has been simmering tension and unrest. Talk us through how | :05:56. | :06:01. | |
badly his hiatus in the operation at his factory will affect the | :06:01. | :06:09. | |
Suzuki Company as a whole? But for what I% of the overall production. | :06:09. | :06:16. | |
45%. He is is as significant plant with one-third of total production. | :06:16. | :06:25. | |
When it was fully operational they produced 1,500 cars every day. Why | :06:25. | :06:31. | |
were the top selling Suzuki cars. Now only 300 employees are | :06:31. | :06:36. | |
producing cars and it's only partial production aiming at only | :06:36. | :06:40. | |
150 cars every day. At a fraction of their total. When a shutdown | :06:40. | :06:46. | |
that were losing their $18 million every day. That is a lot because | :06:46. | :06:52. | |
this is a crucial factory in India. Des upcoming festivals so the | :06:52. | :06:56. | |
carmakers arranging for the consumers are around festival | :06:57. | :07:04. | |
season to have production up and running before then. Lets cross | :07:04. | :07:14. | |
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over to Singapore where Asian It's good to see you. Why have the | :07:17. | :07:24. | |
stocks reason? Is it more than expected? Basically, three actors. | :07:24. | :07:28. | |
Investors at an undervalue in good defensive stock with confidence in | :07:28. | :07:33. | |
the US recovery and hopes for action in Europe. Big gains have | :07:33. | :07:39. | |
been capped as investors wait for more details will stop the Japanese | :07:39. | :07:49. | |
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amid reports that the company will cut 8,000 jobs or eat it % of its | :07:58. | :08:04. | |
workforce. The stock has risen today. Stuff Korea is also a | :08:04. | :08:13. | |
positive. Fund managers are going defensive. Memory chip manufacture | :08:13. | :08:21. | |
ring is up today. Prices seem to have stabilised. Taiwan is also | :08:21. | :08:31. | |
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going positive today with HDC climbing 1%. They have hinted. | :08:34. | :08:38. | |
Asian stocks are also rising on domestic situations. It's not just | :08:38. | :08:47. | |
based on the US and the European Virgin Atlantic is to begin a | :08:47. | :08:50. | |
short-haul service between London Heathrow and Manchester from next | :08:50. | :08:55. | |
March. The airline says its first foray into the UK domestic market | :08:55. | :09:00. | |
will provide competition for British Airways. The move comes | :09:00. | :09:03. | |
just days after Virgin Trains lost the right to operate the West Coast | :09:03. | :09:08. | |
main line, which also links London and Manchester. Virgin says that | :09:08. | :09:11. | |
65% of people who fly from Manchester to London then connect | :09:11. | :09:18. | |
on to another long-haul flight, and they want a share of that market. | :09:18. | :09:21. | |
George Soros, the billionaire hedge fund manager, has bought a near 8 | :09:21. | :09:24. | |
per cent stake in the listed shares of Premier League football club | :09:24. | :09:30. | |
Manchester United. The move makes Mr Soros one of the club's biggest | :09:30. | :09:33. | |
backers behind the Glazer family, who decided to float a portion of | :09:33. | :09:38. | |
the club in New York this month. Manchester United shares have had a | :09:38. | :09:42. | |
rough start since their debut at an initial price of $14 a share. The | :09:43. | :09:49. | |
company's stock closed at $13.06 on Monday. Shareholders of China's two | :09:49. | :09:52. | |
largest online video firms, Youku and Tudou, have approved their plan | :09:52. | :09:55. | |
to merge and create the biggest online video firm in China.The plan, | :09:55. | :09:58. | |
announced in March, will see Youku acquire rival Tudou via a stock | :09:58. | :10:08. |