Browse content similar to 14/12/2012. Check below for episodes and series from the same categories and more!
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Those are the latest headlines. Now for the latest financial news in | :00:03. | :00:13. | |
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Hello. Welcome to the program, your chance to catch up on latest in the | :00:18. | :00:22. | |
world of business and money. The headlines: Who should control the | :00:22. | :00:26. | |
internet? Talks on a global treaty break down, with Western nations | :00:26. | :00:31. | |
refusing to hand power over cyberspace to the UN. | :00:31. | :00:35. | |
Japan goes to the polls on Sunday but can a new government solve the | :00:35. | :00:45. | |
:00:45. | :00:53. | ||
old problems and revive a slumping We will talk about Japan shortly. A | :00:53. | :00:57. | |
big challenge for whoever the next Prime Minister is in that country. | :00:57. | :00:59. | |
Who should control the internet? Governments? Private companies? | :00:59. | :01:03. | |
United Nations officials? Or nobody? It is a question that has | :01:03. | :01:06. | |
been the subject of fierce debate between some 193 countries for the | :01:06. | :01:10. | |
last two weeks in Dubai. But the meeting of the UN's International | :01:10. | :01:12. | |
Telecommunications Union looks like breaking up without a global | :01:13. | :01:20. | |
agreement. China, Russia and some Gulf and African states want to see | :01:20. | :01:24. | |
more UN power over the internet and a reduction in what they see as | :01:24. | :01:29. | |
Western dominance. But a bloc led by the US and including the UK and | :01:29. | :01:32. | |
Canada has refused, saying it could limit web commerce and play into | :01:32. | :01:41. | |
the hands of authoritarian regimes. Our business reporter in Dubai has | :01:41. | :01:48. | |
been at the negotiations. What happened last night? The talks | :01:48. | :01:55. | |
continued until about 2am this morning. The UK, the US and | :01:55. | :01:59. | |
Australia, and apparently India as well, say they will not be able to | :01:59. | :02:03. | |
sign the treaty. This treaty has been an update of an original | :02:03. | :02:07. | |
treaty that was drafted 24 years ago. The internet was very much in | :02:07. | :02:12. | |
its infancy. It's a divide whether it -- between whether the internet | :02:12. | :02:19. | |
should be included in the treaty, which is what the US and Australia | :02:19. | :02:24. | |
do not agree with. But Arab states believe it is part of | :02:24. | :02:28. | |
telecommunications. Is it part of it all it took -- is it just about | :02:28. | :02:36. | |
content and should it be governed by national governments or by a | :02:36. | :02:40. | |
different approach? You mention Arab states. The region where you | :02:40. | :02:50. | |
:02:50. | :02:50. | ||
are well known for control over the internet. How is it influencing | :02:50. | :02:55. | |
something like the Arab Spring? There is a divide. There are two | :02:55. | :02:59. | |
sides to the internet. Before the revolution, there was censorship | :02:59. | :03:04. | |
and afterwards there was none. They would rather have the second. There | :03:04. | :03:11. | |
is a real divide. The UAE updated their intimate restrictions and | :03:11. | :03:18. | |
made punishments tougher. There is a real divide in the Middle East. | :03:18. | :03:22. | |
It seems like the Arab Spring states seem to prefer the freedom | :03:22. | :03:27. | |
of the internet as a good thing. But the Gulf states like Saudi | :03:27. | :03:31. | |
Arabia see it as more of a threat. Thank you. | :03:31. | :03:34. | |
Dr Jerry Sanders is an independent analyst on telecoms and internet | :03:34. | :03:44. | |
issues. He joins us now. We will talk about the internet shortly. | :03:44. | :03:48. | |
But this gathering is more than just the internet, it is about | :03:48. | :03:52. | |
Telecoms, isn't it? We do not think about it but I can pick up the | :03:52. | :03:56. | |
phone anywhere in the world and call any other part of the world | :03:56. | :04:00. | |
and there is a lot of stuff behind that. How does it work at the | :04:00. | :04:03. | |
moment? It is nothing to do with the internet in terms of content. | :04:03. | :04:08. | |
It is only to do with communications. Connecting eight to | :04:08. | :04:14. | |
be. 25 years ago when this started, imagine now if 70% of all phone | :04:14. | :04:24. | |
:04:24. | :04:24. | ||
calls you got was rubbish? -- A to B. 70% of emails currently are span. | :04:24. | :04:29. | |
So you may say the internet needs sorting out. One of these things | :04:29. | :04:33. | |
the treaty is hoping to do is get people to talk about how to get rid | :04:33. | :04:38. | |
of Saddam. But what it does not want to do, or what major players | :04:38. | :04:45. | |
do not want it to do, he's had it get involved of content. -- is have | :04:45. | :04:54. | |
it get. Is it currently controlled at all? It 70% is rubbish? It is | :04:54. | :04:58. | |
not controlled. When you send an e- mail, you have no right to expect | :04:58. | :05:04. | |
it to be delivered because all the connections are free. When you buy | :05:04. | :05:07. | |
you internet servers, you are buying a connection. But everything | :05:07. | :05:15. | |
you could over that service is getting there for free. There is | :05:15. | :05:19. | |
nothing that guarantees somebody has to receive it. But with | :05:19. | :05:23. | |
Telecoms, when you buy a phone system, you have to get what you | :05:23. | :05:27. | |
paid for - a connection. Correct me if I'm wrong but there is no | :05:27. | :05:33. | |
taxation Birsay on the internet? And given the current economy, some | :05:33. | :05:43. | |
:05:43. | :05:43. | ||
governments may say it's a nice tasty revenue earner? -- -- per say. | :05:43. | :05:47. | |
Many countries would like to have more control because they may be | :05:47. | :05:55. | |
able to it tax more. If a nation state owns the right to give you a | :05:55. | :06:03. | |
Web name it could also tax it. At the moment, it is an international | :06:03. | :06:08. | |
body. Thank you for coming in. In Japan, voters go to the polls | :06:08. | :06:12. | |
this Sunday to elect lawmakers for the lower House of Parliament and | :06:12. | :06:16. | |
decide who'll become the next Prime Minister. They want a leader who | :06:17. | :06:20. | |
can pull the world's number three economy out of what many are | :06:20. | :06:23. | |
calling the worst crisis in a generation. Mariko Oi reports from | :06:23. | :06:33. | |
:06:33. | :06:34. | ||
Tokyo. Vegetables are sizzling. Just like | :06:34. | :06:39. | |
the election campaign. Ever since this 73-year-old started a small | :06:39. | :06:43. | |
restaurant 35 years ago, he has seen the ups and downs of the | :06:43. | :06:47. | |
economy. But as he helps his son today, he says things have never | :06:47. | :06:53. | |
been worse. TRANSLATION: The economy is at its worst now. In | :06:53. | :06:58. | |
good times, we could all make five or ten times more money. I do not | :06:58. | :07:02. | |
mind who is the new leader but I want things to be better, or at | :07:02. | :07:07. | |
least not become worse. The three main economic policies that he and | :07:07. | :07:13. | |
other voters are concerned about are: The sales tax. Will shoppers | :07:13. | :07:17. | |
have to pay on everything they by? It is currently 5% but the plan is | :07:17. | :07:26. | |
to double it by two dozen 15. Secondly, a huge free trade pact. - | :07:26. | :07:31. | |
- 2015. If Japan joins it, it could mean cheaper rice and vegetables | :07:31. | :07:35. | |
but there is strong opposition from Japanese farmers. Finally, the | :07:35. | :07:39. | |
future energy policy. Whether Japan should ditch nuclear power. Without | :07:39. | :07:44. | |
it, people have to pay more for electricity. But since the accident | :07:44. | :07:48. | |
at the Fukushima power plant, the anti-nuclear movement has been | :07:48. | :07:52. | |
gaining momentum. But if you ask the companies that dominate the | :07:52. | :07:56. | |
corporate landscape, particularly exporters, they tend to disagree | :07:56. | :08:00. | |
with small business owners and consumers, who oppose the three | :08:00. | :08:04. | |
main economic policies. They say unpopular moves are necessary to | :08:04. | :08:09. | |
fix the economy. TRANSLATION: Those policies may be unpopular but they | :08:09. | :08:13. | |
would eventually support the country's economy. We need the | :08:13. | :08:17. | |
sales tax hike to fund the social security system because our | :08:17. | :08:21. | |
population is ageing quicker than anywhere else in the world. We also | :08:21. | :08:25. | |
support Japan to join the trade agreement because having free trade | :08:25. | :08:30. | |
with the growing economies of Asia is important. Around the corner | :08:30. | :08:35. | |
from the restaurant, the Prime Minister is appealing to voters. | :08:35. | :08:40. | |
Some of the economic decisions have been tough on consumers. He says | :08:40. | :08:44. | |
they are needed to fix the economy. But he will find out if voters | :08:44. | :08:48. | |
agree with him when they could to the polls on Sunday. | :08:48. | :08:53. | |
Japanese voters coming to grips with difficult economic choices but | :08:54. | :08:57. | |
they may be needed to get the country out of the ongoing | :08:57. | :09:01. | |
stagnation. But it is not what many want to hear. The big challenge for | :09:01. | :09:04. | |
lawmakers is to make tough decisions without losing their | :09:04. | :09:10. | |
votes. In the last few hours, an | :09:10. | :09:13. | |
indication of the worries Japan's business committees have about the | :09:14. | :09:19. | |
state of the economy. The quarterly survey, are a very important survey, | :09:19. | :09:23. | |
showed confidence among business leaders slumped in the last three | :09:23. | :09:27. | |
months to its lowest reading in almost three years. Much worse than | :09:27. | :09:30. | |
what was expected. In other business news, | :09:31. | :09:34. | |
Switzerland's biggest bank UBS may be fined more than $1 billion for | :09:34. | :09:38. | |
its role in trying to rig the Libor interbank lending rate. That is | :09:38. | :09:41. | |
according to several reports which suggest UBS will settle with US and | :09:41. | :09:44. |