Browse content similar to 06/09/2012. Check below for episodes and series from the same categories and more!
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Those are the latest headlines. It is now time for World Business | :00:02. | :00:12. | |
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A very warm welcome to World Business Report. Time to deliver it | :00:20. | :00:24. | |
- press announced on the European Central Bank to present a solution | :00:24. | :00:29. | |
to the eurozone crisis. A key partnership in the aviation | :00:29. | :00:33. | |
industry as Qantas and Emirates forge an alliance that will shift | :00:33. | :00:37. | |
the Israeli carrier's long haul up to two by a from Singapore. -- | :00:37. | :00:44. | |
Australian. Plus, defending Obama's economics. | :00:44. | :00:54. | |
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He will argue that it could have A very warm welcome. The summer | :00:59. | :01:03. | |
holidays are officially over. Once again, decision time looms for the | :01:03. | :01:09. | |
eurozone. Chancellor Merkel is in Madrid today, trying to gauge how | :01:09. | :01:14. | |
close they may be to needing a full bail-out. Meanwhile, in Fringford, | :01:14. | :01:20. | |
the European Central Bank holds a vital meeting. -- Frankfurt. | :01:20. | :01:24. | |
Expectations have been riding high since the ECB chafe would do | :01:24. | :01:31. | |
whatever it takes to preserve the euro. | :01:31. | :01:35. | |
First we go to Germany. Europe's paymaster has to decide between | :01:35. | :01:39. | |
digging deeper into its reserves to keep the eurozone currency intact | :01:39. | :01:46. | |
or cutting its losses. Now Europe Business Correspondent reports from | :01:46. | :01:51. | |
southern Germany. They have been making top-quality | :01:51. | :01:57. | |
pencils here for over 250 years. The paper generation of the family | :01:57. | :02:02. | |
is unlikely to be courted by a currency crisis. What the cut the - | :02:02. | :02:05. | |
- family doesn't care for is what it sees as pre-election posturing | :02:05. | :02:11. | |
by some of the region's populist politicians. Those who were to stop | :02:11. | :02:16. | |
extending a financial lifeline to the eurozone's most over-borrowed. | :02:16. | :02:24. | |
His message, Germany has to hang on in there. to say we have to get rid | :02:24. | :02:31. | |
of Greece is easy. We do not know what comes in addition to that. We | :02:31. | :02:36. | |
would have to be aware that it would be very expensive. Had we | :02:36. | :02:41. | |
keep our competitiveness in Germany? There is no good solution. | :02:41. | :02:46. | |
There are only lousy options. The question is which is less lousy? I | :02:46. | :02:51. | |
am still a fan of the euro. It is a big slice of a tax take from | :02:51. | :02:57. | |
successful companies like this which are autumn at the Bank Rowing | :02:57. | :03:07. | |
:03:07. | :03:09. | ||
After a summer of discontent here in Bavaria, what is the tipping 0.4 | :03:09. | :03:16. | |
Germany? Nearby, the chief of this toymaker believes more bail-outs | :03:16. | :03:23. | |
will be supported. I think what we definitely need is some kind of a | :03:23. | :03:31. | |
sign for a positive trend. It will be very hard for people to look at | :03:31. | :03:37. | |
a sharp decline and still say, let's go for it. In some countries | :03:37. | :03:43. | |
we need positive trend reactions and I very much hope this will | :03:43. | :03:49. | |
happen. The game could be changed by a court decision halting German | :03:49. | :03:55. | |
rescue spending next week. Germans here to see resigned to providing | :03:55. | :04:05. | |
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more supply a tour of the eurozone together. | :04:10. | :04:14. | |
Analysts saying that the president of the ECB is relief on the line | :04:14. | :04:18. | |
today. He set himself up as the man whose mission it is to save the | :04:18. | :04:23. | |
Euro, but it has been over a month ape since he said he would do | :04:23. | :04:29. | |
whatever it takes to say the currency. Have expectations been | :04:29. | :04:37. | |
ramped up to lie? I think there is enormous pressure on him and the | :04:37. | :04:41. | |
European Central Bank. But I think they would deliver today. He will | :04:41. | :04:46. | |
present a plan on how the ECB thinks they will purchase bonds to | :04:46. | :04:56. | |
:04:56. | :04:58. | ||
support the country in need. Will this proposal prove any more | :04:58. | :05:01. | |
effective than the very similar security market programme which we | :05:01. | :05:10. | |
saw last year? It depends on the details. I think it will be better. | :05:10. | :05:15. | |
I think it will be more effective. Let's not forget it will also | :05:15. | :05:22. | |
depend on cue medication. Here, the German central bank is key. The | :05:22. | :05:27. | |
whole programme was often torpedoed by the hold President. If the | :05:27. | :05:31. | |
current president can keep a lot communication profile after the | :05:31. | :05:34. | |
decision, I think the entire plan can be much more effective than | :05:34. | :05:41. | |
what we saw over the last two years. Let's talk about Germany. The | :05:41. | :05:46. | |
President is repeatedly described as walking a tightrope. Germany's | :05:46. | :05:49. | |
Central Bank has repeatedly come out and said it is not the job of | :05:49. | :05:54. | |
the ECB to bail out weaker eurozone economies, that the job of the | :05:54. | :05:58. | |
Central Paper is solely to focus on price stability. Can it be moved on | :05:58. | :06:06. | |
this point? The ECB will try to continue walking on this in mind, | :06:06. | :06:12. | |
saying it is not financing governments, but that it is mainly | :06:12. | :06:15. | |
aiming at repairing the so-called transmission mechanism of monetary | :06:15. | :06:18. | |
policy, which means they will try to have an effect on short-term | :06:18. | :06:23. | |
interest rates. These are the rates that are linked to the ECB's | :06:23. | :06:29. | |
interest rate. If they can no way it, it will also have an impact on | :06:29. | :06:31. | |
the economies because then companies and people can borrow | :06:31. | :06:40. | |
much cheaper. Some long expected news from | :06:40. | :06:50. | |
:06:50. | :06:51. | ||
Australia airline -- Australian airline Qantas. Tell us all about | :06:51. | :06:55. | |
this, this partnership between Qantas and Emirates. Was it would | :06:55. | :07:01. | |
be expected be expected Well, it was quite a surprise to | :07:01. | :07:06. | |
many aviation analysts. They signed a ten-year partnership and this | :07:06. | :07:11. | |
will involve moving Qantas's hard- fought European flights to Dubai | :07:11. | :07:19. | |
from Singapore. They will are lying ticket prices and flight schedules. | :07:19. | :07:24. | |
This decade-long agreement may also save Qantas from more losses and | :07:24. | :07:27. | |
turn around its fortunes. Last month the carrier posted its first | :07:27. | :07:34. | |
annual loss since its privatisation 17 years ago. Analysts say this is | :07:34. | :07:37. | |
also a significant departure for Emirates which has avoided closer | :07:37. | :07:41. | |
of partnerships with rivals as it has grown into the biggest | :07:41. | :07:46. | |
international passenger carrier. You also have intense pressure from | :07:46. | :07:52. | |
its rival Etihad. It also offers an Reds greater access to Australia's | :07:52. | :07:57. | |
booming domestic treble network. This deal will probably reignite | :07:57. | :08:02. | |
long-stemmed complaints who say it is unfairly subsidised. | :08:02. | :08:07. | |
Markets have reacted positively to this news as well, haven't they? | :08:07. | :08:15. | |
Shares in Qantas have jumped some Later today, Barack Obama will | :08:15. | :08:18. | |
accept the Democratic presidential nomination and deliver his | :08:18. | :08:22. | |
convention speech. His narrowly ahead in the polls, but the economy | :08:22. | :08:28. | |
is the top of voter concern. Unemployment has been a but some 8% | :08:28. | :08:31. | |
for 42 months now. That is the longer since the end of World War | :08:31. | :08:34. | |
II. What can he see that might convince voters that he can get the | :08:34. | :08:43. | |
economy back on track? Barack Obama's election in 2008 | :08:43. | :08:47. | |
sparked celebrations in Harlem. Four years on, millions of American | :08:47. | :08:52. | |
jobs have been lost. The support is still there, but people are less | :08:52. | :08:58. | |
starry-eyed. I am a supporter and I think he's doing the best he can. | :08:58. | :09:04. | |
think he deserves a chance to finish what he started. | :09:04. | :09:08. | |
Charlotte North Carolina, Democrats argue the economy would have been | :09:08. | :09:12. | |
far worse without President Obama. When he took office, the economy | :09:12. | :09:18. | |
was falling off a cliff. Financial services, the credit markets | :09:18. | :09:24. | |
closing down, the water industry collapsing, the housing industry | :09:24. | :09:31. | |
collapsing. 800,000 jobs were lost in one mind. It was a precipitous | :09:31. | :09:36. | |
decline. Within a few months, through a series of major policy | :09:36. | :09:42. | |
initiatives, including the stimulus package, the economy began to stop | :09:42. | :09:49. | |
the fall and began to rise. message unlikely to keep him in the | :09:49. | :09:52. | |
White House, so the President has been travelling around pushing his | :09:52. | :09:59. | |
economic plan. What would a second administration do? It would raise | :09:59. | :10:04. | |
taxes for wealthy Americans, invest in communication and infrastructure | :10:04. | :10:10. | |
as well as alternative energy. The Obama faithful to not expect to | :10:10. | :10:15. | |
return to the magic of 2008. They just want to avoid disappointment. | :10:15. | :10:21. | |
He has a good vision and I like his wife and family. It could have been | :10:21. | :10:25. | |
a lot worse is a tough sell. That is undoubtedly the message of | :10:25. | :10:30. | |
President Obama Collingwood Magpies first term. What does one do here | :10:30. | :10:39. |