28/01/2013 World Business Report


28/01/2013

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Those are the latest headlines. Now In search of profits - internet

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giant Yahoo unveils 2012 earnings. And a top French bank chief tells

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World Business Report the answer to French economic problems is to cut

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tax, rather than raise it. Hello and a warm welcome, this is

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World Business Report. From internet hero to internet 0, Yahoo

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has had a rocky few years. It has haemorrhaged users, investors and

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even she executives in recent times. Marissa Mayer is the new head of

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the helm and there are early signs she could be churning around the

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group's fortunes. But she still faces an almighty battle if she is

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to take on rivals such as Google and Facebook.

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In the 1990s and early to thousands, Yahoo's portal was ubiquitous on

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the internet. The company employed 14,000 staff at its height. It

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rejected a takeover from Microsoft, saying it was not enough. But it

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lost ground to rivals. Dougal are 75% of the search market. The share

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price has tumbled and it has shed thousands of staff. The sea is a

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complicated market. You need a presence in mobile, presence in

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search, presence in display. Something you can only compete in

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if you have a solid strategy behind you and solid leadership. Guy who

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was missing those of the stings for a number of years. -- Yahoo. We

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have only seen any real leadership brought in the business recently.

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Marissa Mayer took over last US chief executive. Company results

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have improved slightly and the share prices on the rise. Until now,

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Yahoo has provided content for the desktop computer. But Marissa Mayer

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has been telling investors that the company will focus on providing

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content for this, the smartphone. Yahoo is now in a race with the

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likes of Google and Microsoft to be the first to come up with a

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workable solution. They need to leapfrog and get into new areas

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like mobile. The need to get there faster than anyone else. A lot of

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the changes that Marissa Mayer is making a really good and

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interesting. But there are only bringing them up to its rivals.

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Yahoo can find a radically better way to present Web content on

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smaller screens, it could win over millions of people. But what it

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offers will have to be truly great if it is to regain its place in the

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internet's Premier League. The man who runs one of France's

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biggest banks has told the BBC that France should be cutting taxes, not

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raising them, if it wants wealth to start growing. It follows an exodus

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by some of France's richest. Society General chief also told us

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that governments across the eurozone would have to do more to

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insure a strong rebound in economic growth this year.

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The question is how significant will be this rebound. It might not

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be enough. If we should have countries doing more or in 2014 in

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terms of co-ordination to stimulate. What more stimulation do you want?

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Governments are spending money. The European Central Bank has interest

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rates low. It is not monitoring tools. It is time to progressively

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look at liquidity. It is about more co-ordination in key policies. If

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you take the energy sector, you have better European common policy.

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Having access to cheap energy is a key driver of gross. Adjust the

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financial sector. Try to turn the page on the crisis and think about

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strategy to build an efficient European financial sector. Not just

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and regulation. It is more about this and bringing up the confidence

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level in the eurozone as an attractive place to invest. France

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has been caught up in a lot of controversy over tax levels and

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there has been debate about wealthy people in France as to whether they

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want to stay there. What you think? It is a legitimate debate. We

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should aim to reduce taxes. We need to be more competitive. The level

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of public spending is too high. We need to have a more efficient

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public system. We need to advance lower taxes going forward.

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There could be some good news for thousands of workers at the world's

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biggest platinum miner. It could hold off on plans to shed 14,000

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staff following crisis talks with trade unions over the weekend. He

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denounced the lay-offs earlier in the month. It follows months of

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heavy losses. This was due to rolling strikes in South Africa due

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to violent clashes between unions and police.

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Chinese industry goes from strength to strength. Profits at

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manufacturers increased 17%. Firms made $182 billion last month.

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Electric goods makers fared the best. Profits in the steelmaking

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sector plunged by 39%. People of all ages and backgrounds

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sucking on the who go all water pipe in Turkey. As a Sunday, the

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practice is all meant. In 2009, the ban on tobacco smoking in public

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places that a loophole. But no more. From one bend to something

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approaching that in Hong Kong. Government plans to restrict access

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to company information has angered thousands of journalists. They

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claim the move announced Titian's a share. The Chinese territory is one

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of the few places in Asia where the people can access the information

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of Public directors, letting them expose fraud and corruption. Just

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tell us why they are doing this? the moment the public, for a very

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small fee, can access the home address and identification numbers

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of company directors. Over one million of them. This type of

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access is unprecedented in other parts of China. At this point in

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time, Hong Kong's government says they need to restrict access to

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this information in order to protect the privacy of company

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bosses. The timing of this is being questioned. This comes just months

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after a foreign journalists uncovered fortunes linked to

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Chinese premier Wen Jiabao as well as the incoming President Xi

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Jingping. That is why there is this pressure coming from mainland China

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to stop the media at scrutinising its leaders. The timing is key.

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Only recently we have the new leadership in China. They were keen

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to say they wanted to wipe out corruption and do more to make

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things transparent. But this tells us the opposite. Indeed. In today's

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paper's journalists, over 1,700 of them, as well as the public, have

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published an advertisement in newspapers trying to oppose this

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government proposal. They say that secrecy breeds corruption. They

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believe that restricting company information. A lot of journalists

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from doing investigative pieces. It will also facilitate money

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laundering. That is why so many people oppose this. Not just

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journalists, but also smaller businesses and labour groups. They

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depend on this information to chase up on business transactions.

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Showing you how things were going on the markets in Asia. We are

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seeing a mixed picture. Quite a bit of good economic news coming out

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and some bad. Japan seeing a slight loss, almost a present. The yen has

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strengthened today. -- almost on descent. That is hurting exporters.

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