14/11/2012 World Business Report

the latest headlines from BBC World news. Now it's time for the latest

financial news with Sally and World Hello and a warm welcome, you're

with World Business Report. These are the headlines: From Stockholm

to Seville, and you austerity protests are planned across Europe

today, but will they achieve anything? -- ante austerity. The

European Commission will propose its plan for greater equality in

the boardroom. I'm Rico Hizon in Singapore, the stock price of

Japan's share makers saw. Good to have you with us. As you

have been hearing Labour organisations and workers' parties

will be on the march in almost every country in the European Union

today. Even in London unions are planning a lobby of the European

Commission building in Westminster. But does it achieve much? Nigel

Cassidy has been finding out. They have been on the streets all over

the country, Workers' Party say the pressure should be on the bankers,

who they think are responsible for Europe's financial crisis. Singling

out City bankers and organising protests on the same day in many

countries are different ways of getting a message across. But the

reality is even trade unionists can be reluctant to take part in ante

austerity protests, for example calls for national strikes all over

Europe have and entirely been heeded. -- haven't. Spain, Portugal,

Greece and Italy will see more strikes today. Elsewhere the action

is, like this, only symbolic. So does this mean most Europeans

reluctantly accept the need for cuts? It's not that they accept it,

if you're following what has happened in Spain since last year,

there are lots of protests on a daily basis, including trade unions,

civil society organisations and other people. The battles are

escalating right now. We are highlighting the point that the

government will collapse like previous ones. All of this has

helped to slow the official timetables for cut their deficits.

-- for countries to cut. So far they have not persuaded a single

European government to cancel cuts, though. For this German banker the

latest backlash against austerity among public sector workers is

unsurprising. The first to be affected were temporary workers and

young people who lost their jobs first and where unemployment rates

really soared. That's what we have seen last year, a big protest

movement in Spain and other countries, of young people. Now the

austerity is getting serious the public sector is the most affected.

It is not only protesters who feel austerity is part of the problem

and not the solution to the financial problems. But what is

certain is that falling living standards may be unavoidable for

Later this morning the European Commission will present its plan to

boost the number of women on company boards in Europe. Earlier

proposals had been watered down, but the European Commission still

wants companies to have women in at least 40 % of their non-executive

board positions. It will be up to individual countries to enforce the

laws and the timetable has been eased. Thank you for joining us.

Tell us more about what's going to be presented today. The 40 % quota

does still stand for non-executive directors on boards of larger

companies. We were never talking about small companies and small and

medium-sized enterprises. We are talking about companies with a

turnover of more than EUR50 million a year. That 40 % quota for women

still stands. But the difference is that this time where countries,

member states, can show they are on course to meet that 40 % target by

2020, the procedures in the new directives will be suspended. Where

member states are doing it they will be allowed to go on doing what

they are doing. It sounds like a bit of a fudge to me if you don't

mind me saying, there's not going to be a legally binding scenario

where sanctions are enforced? in the original proposals sanctions

were down to the member states, that was always the case. Obviously

there will be sanctions if the companies do not meet the quotas.

But member states will have the responsibility of imposing them. So

no, it's not as strong as it was. What is directed shows is that

there have been discussions within the European Commission about this

proposal. -- what this directives. And a solution acceptable to

everyone is certainly come out to obit. I'm sure you're a aware of

this being the right way forward -- come out of it. You only have to

look at the statistics to see how bad the position is. Across Europe

15 % of non-executive positions are held by women. When you come to

executive directors it is 5%. We need to take strong measures.

terms of how large companies operate, because this is what we

are talking about, do you feel that it needs to start further down the

ladder, as opposed to concentrating on the board? Perhaps if women were

more supportive and the work environment was easier for women

further down, they can work their way up and remain in their careers

when they have children and therefore get to the board?

completely agree. We need to do much more to support women and we

particularly need to make sure there's childcare in place and

there's proper maternity provision and adequate maternity leave. Also

when women get back to work having had a break they are able to resume

their careers. There's a lot to look at. If we implemented all of

those things better women would stand much more chance of getting

to board level. But that's a long process. Some of those things are

in place. But we need to take action now to ensure that women

break through the glass ceiling. Because until we do that women will

still face discrimination and that simply not right in this day and

age. Thank you for joining us. Now, for a change, we're talking about

shares in the Japanese TV maker Sharp going upwards, they jumped

almost 8% after a report the struggling firm might receive

investment from two big US technology companies. Let's speak

to Rico, a glimmer of hope for Sharp? Yes. Potentially two white

knights, Intel and another company could invest 40 billion yen or 500

million US dollars in these struggling consumer electronics

manufacturer. Sharpe faces a lot of problems, you have mounting losses

and falling sales. It issued a warning about its survival earlier

this month. The strong yen has increased its manufacturing costs

in the face of competition from foreign rivals like Samsung. They

were forced in September to seek a bail-out from its banks. Analysts

say the company needs investment with sources saying that they could

get an agreement by the end of the month. But a spokeswoman from the

company said that no decisions had been made about accepting

investment from other companies. Sharp was in talks for months with

another company but negotiations stalled and they say they are

looking at other alliances. Thank you for joining us. Let's have a

look at more stories now, Argentina will appeal to a UN court on

Wednesday for the release of Navy training ship that had been seized

in Ghana -- a Navy training ship. It was seized as collateral for

unpaid debts from the economic crisis ten years ago. Argentina

pose the investment firm $350 million. -- a ruse. Shares in Cisco

Systems jumped in after hours training after the US maker of

networking equipment reported better than expected results. It