09/01/2013 World Business Report

Those are the latest headlines. Now it is time for World Business

Report. The headlines: If you can't find

work, set up your own business. That's the message from the

European Commission. We look at the hurdles facing the budding

entrepreneur. After a successful bond auction,

there is hope that Ireland will be the first country to exit their day

out. Will we hear the Celtic tiger roar again?

Phone maker Nokia has become the latest telecommunications company

to face tax issues in India. How often have you considered that

you might be better off if you became your own boss? As all of

Europe absorbs yet another steep rise in its jobless, Brussels

industry commissioner told television today that a huge number

of entrepreneurs are needed to get Britain back into growth. Will an

official initiative be well placed to create new firms and bring jobs

and prosperity to Europe? We have been to visit one

successful new enterprise to find out.

So you have your samples here. We need more lemon thyme in them.

new year, and a new mix a drink is in the making. This business has

become a multi-million dollar turnover industry in seven years.

The founder's big idea - creating quality mix has made with natural

ingredients for spirits like gin and vodka. Surprisingly, Fever

Tree's best export market is Spain. It has broken into a tough European

food and drink market where others have failed. Only half of all new

firms it survive their first five years.... Brussels is targeting

more state action to encourage budding entrepreneurs. The EU's

later start-up initiative targets dudes, women and migrants. I can

see why they are targeting their grip but you have to be realistic.

If someone has no business experience, if they don't have a

good grasp of how business works and have cash flow works - these

critical things that any business person needs to understand, their

chances of success are very low. With 25 million out of work across

Europe, it's easy to see why these programmes tend to target the

jobless. It's a long-term economic truth that there are a small group

of people and businesses with a track record and experience working

in growth markets that contribute a disproportionate amount to the

Health and well-being of economies. It is supporting those businesses

and those people that is really the most effective for long-term,

sustainable economic prosperity. Teaching citizens to be more

entrepreneurial may not come easy. Success in business usually

involves challenging and disrupting the usual order.

Ireland has started the year with a successful bond auction, sparking

hopes Dublin could become the first eurozone nation to exit a bailout

programme. It sold 2.5 billion euros worth of long-term sovereign

debt. There was such strong demand from investors who paid a

favourable price for it. The amount raised represents one-quarter of

the 10 billion euros that Orrell and hopes to raise on the market

this year. -- Ireland hopes. Bond yields were rising, US bond

yields, as we came into the new year. Suddenly we saw some high

unemployment numbers in Europe. People were worried. They came at a

good time for the Irish. But also, Orrell and is doing rather better

than a lot of the periphery. -- Island is doing much better. They

are taking over the EU presidency for six months. There is a lot

going on in Dublin today and tomorrow. They have said that they

are regaining the trust of financial markets. They have a lot

more they want to sell this year in terms of sovereign debt. Do you

think the worst is behind them? don't think the worst is behind

Europe in general, but Ireland is part of that. I think the steps

they have taken have made a huge difference. Of course, it's that

slightly better feel coming in to 2013 than we had coming in to 2012.

Everyone has a bit more optimistic that Europe can get through this.

They seem better growth numbers. Things like there pm I figures have

been better than most of Europe. The thing though, is the

unemployment figures. For Ireland it is around 14%. Youth

unemployment is much higher. It's the same story across Europe. Very

bad in Spain. We just heard that piece about the fact that people

are being encouraged to set up businesses. It will be a difficult

problem to solve. Would you say that is the real black cloud

hanging over Europe? I think stagnation is the black cloud

hanging over us. Of course, unemployment is a reflection of

that. It's probably going to go higher before it starts coming down

again. We are not seeing growth. All that Ireland, probably when we

look back at 2012, at least its positive -- although. Just the same,

unemployment is a problem. Bronwen will be back in about five

minutes to talk us through the headlines from the papers.

Nokia has become the latest telecommunications company to face

tax issues in India. What's going on for not here in

India? -- Nokia.

They are looking at the possibility that the country evaded more than

540 million US dollars in taxes. These suspicions are centred on the

Channel I plant, one of the company's largest facilities. --

Chennai. Their shares dropped by 5% in Helsinki after the news of this

raid. They are not the only multinational facing a tax probing

of India. Vodafone received a new notice last week from tax officials

that it owes more than 2 billion US dollars in back taxes. This has

drawn criticism from foreign investors and analysts who complain

that India's tax regime is causing confusion and may deter foreign

companies from trying to develop the domestic market moving forward.

More bad news for the Boeing dream liner? A 787 operated by Japan

Airlines had to cancel its take-off because of a fuel leak. second it's

the second problem affecting the dream liners in two days.

The concern is involving the production methods. Certain

problems have been identified with the manufacturing of the few lines

and how they have been put together. This has the potential to cause

fires -- fuel. Now an electrical problem has been discovered to,

which has the potential to cause a fire. It's worrying for investors.

Shares went down by about 3.5% as investors were concerned about what

happens next. Very quickly to the markets: The