22/02/2013 World Business Report

the sale before Saturday's auction. the sale before Saturday's auction.

Those are the latest headlines. It Those are the latest headlines. It

Those are the latest headlines. It is now time for the latest

Boeing engineers will meet with Boeing engineers will meet with

Boeing engineers will meet with safety regulators later to try and

safety regulators later to try and safety regulators later to try and

get the Dreamliner flying again. get the Dreamliner flying again.

get the Dreamliner flying again. get the Dreamliner flying again.

I as the cost of the flight ban I as the cost of the flight ban

I as the cost of the flight ban spiral, one estimates as the bill

spiral, one estimates as the bill could top $1 billion.

could top $1 billion. could top $1 billion.

No real recovery until 2016, No real recovery until 2016,

No real recovery until 2016, official forecasts out today will

official forecasts out today will official forecasts out today will

paint a bleak picture for Europe's economy.

economy. economy.

This is World Business Report. In This is World Business Report. In

This is World Business Report. In This is World Business Report. In

just a minute, a bit more on those just a minute, a bit more on those

eurozone forecasts. Bowling will eurozone forecasts. Bowling will

eurozone forecasts. Bowling will try and get its troubled Dreamliner

try and get its troubled Dreamliner try and get its troubled Dreamliner

back in the era today. Senior back in the era today. Senior

back in the era today. Senior officials at Boeing will meet with

officials at Boeing will meet with the US Federal Aviation

the US Federal Aviation the US Federal Aviation

Administration to present a ten- Administration to present a ten-

Administration to present a ten- point plan that they hope will

point plan that they hope will point plan that they hope will

allow the 50 grounded Dreamliner allow the 50 grounded Dreamliner

aircraft to restart operation. aircraft to restart operation.

aircraft to restart operation. These include short-term plans like

These include short-term plans like These include short-term plans like

protection around the batteries to protection around the batteries to

protection around the batteries to contain any fire, and proposals for

contain any fire, and proposals for a longer term design.

a longer term design. a longer term design.

a longer term design. A fire in these batteries led to

A fire in these batteries led to A fire in these batteries led to

A fire in these batteries led to the grounding of all 50 aircraft in

the grounding of all 50 aircraft in operation in January. Passengers

operation in January. Passengers operation in January. Passengers

had to be evacuated from a had to be evacuated from a

had to be evacuated from a Dreamliner in Japan. Since then,

Dreamliner in Japan. Since then, Dreamliner in Japan. Since then,

investigators have been trying to investigators have been trying to

investigators have been trying to investigators have been trying to

find the cause of the fires. So far, find the cause of the fires. So far,

find the cause of the fires. So far, no airline has cancelled orders.

no airline has cancelled orders. no airline has cancelled orders.

no airline has cancelled orders. But it is estimated that bowling is

But it is estimated that bowling is But it is estimated that bowling is

missing out on $200 million in missing out on $200 million in

missing out on $200 million in delivery payments every month that

delivery payments every month that delivery payments every month that

the 787 remains grounded. They are the 787 remains grounded. They are

the 787 remains grounded. They are spending $1 million per month to

spending $1 million per month to keep production running. The

keep production running. The keep production running. The

company is proposing safety fixes. company is proposing safety fixes.

company is proposing safety fixes. They could include putting the

They could include putting the They could include putting the

batteries in fireproof metal cases batteries in fireproof metal cases

batteries in fireproof metal cases and widening the gaps between

and widening the gaps between and widening the gaps between

battery cells to stop them battery cells to stop them

overheating. The only Dreamliner aircraft flying at the moment are

aircraft flying at the moment are aircraft flying at the moment are

aircraft flying at the moment are those involved in tests to find the

those involved in tests to find the those involved in tests to find the

source of the problems. Boeing source of the problems. Boeing

source of the problems. Boeing hopes today's meeting with US

hopes today's meeting with US hopes today's meeting with US

regulation aviator will lead to the regulation aviator will lead to the

regulation aviator will lead to the resumption of services by April.

resumption of services by April. resumption of services by April.

With me is an aviation consultant. With me is an aviation consultant.

With me is an aviation consultant. With me is an aviation consultant.

Good to see you. What problems has Good to see you. What problems has

Good to see you. What problems has the Dreamliner not suffered? This

the Dreamliner not suffered? This the Dreamliner not suffered? This

is a technology leading aircraft. is a technology leading aircraft.

is a technology leading aircraft. is a technology leading aircraft.

It has got so many new components. It has got so many new components.

It has got so many new components. The major structure is carbon

The major structure is carbon composite. Other systems provide

composite. Other systems provide composite. Other systems provide

power. New electrical systems, new power. New electrical systems, new

power. New electrical systems, new engines. New assembly processes and

engines. New assembly processes and engines. New assembly processes and

a lot of outsourcing. With a lot of outsourcing. With

a lot of outsourcing. With hindsight, blowing possibly bit off

hindsight, blowing possibly bit off hindsight, blowing possibly bit off

hindsight, blowing possibly bit off more than it could chew. -- bowling.

more than it could chew. -- bowling. more than it could chew. -- bowling.

more than it could chew. -- bowling. We now have this? About how long it

We now have this? About how long it We now have this? About how long it

will be around. What is the will be around. What is the

will be around. What is the likelihood? What is the likelihood

likelihood? What is the likelihood likelihood? What is the likelihood

it might actually get the it might actually get the

it might actually get the Dreamliner off the ground?

Dreamliner off the ground? Dreamliner off the ground?

background is the airline has background is the airline has

background is the airline has already taken delivery. We have

already taken delivery. We have already taken delivery. We have

already taken delivery. We have heard from a lot of the Polish

heard from a lot of the Polish heard from a lot of the Polish

airliners. They have lost in a airliners. They have lost in a

airliners. They have lost in a airliners. They have lost in a

region of $2.5 million. It will go region of $2.5 million. It will go

region of $2.5 million. It will go into the long-haul market for the

into the long-haul market for the into the long-haul market for the

first time. Without the aircraft, first time. Without the aircraft,

first time. Without the aircraft, first time. Without the aircraft,

it cannot do what. It will cost it it cannot do what. It will cost it

it cannot do what. It will cost it money. That problem will compound

money. That problem will compound money. That problem will compound

over the summer months. War over the summer months. War

over the summer months. War over the summer months. War

aircraft are due to be delivered to aircraft are due to be delivered to

aircraft are due to be delivered to other airlines. And there is that

other airlines. And there is that other airlines. And there is that

commercial pressure to give the commercial pressure to give the

commercial pressure to give the aircraft back into service. Nothing

aircraft back into service. Nothing aircraft back into service. Nothing

comes before safety. Whatever it comes before safety. Whatever it

comes before safety. Whatever it may be discussed in today's meeting,

may be discussed in today's meeting, may be discussed in today's meeting,

may be discussed in today's meeting, may be discussed in today's meeting,

they have to find out if there is a they have to find out if there is a

they have to find out if there is a rich cause and what measures could

rich cause and what measures could rich cause and what measures could

rich cause and what measures could be taken. Could it be a temporary

be taken. Could it be a temporary be taken. Could it be a temporary

situation where improvements can be situation where improvements can be

situation where improvements can be made? A long-term service might be

made? A long-term service might be made? A long-term service might be

required. Let us talk about the required. Let us talk about the

required. Let us talk about the required. Let us talk about the

batteries. They seem to be the key batteries. They seem to be the key

batteries. They seem to be the key batteries. They seem to be the key

problem in all of this. There is problem in all of this. There is

problem in all of this. There is this idea that they might be

this idea that they might be this idea that they might be

this idea that they might be encased in a sort of metal shield.

encased in a sort of metal shield. encased in a sort of metal shield.

encased in a sort of metal shield. A number of things are being looked

A number of things are being looked A number of things are being looked

at. The batteries already have some at. The batteries already have some

protection. There are different protection. There are different

protection. There are different types of battery available. The

types of battery available. The types of battery available. The

lithium batteries, but there are lithium batteries, but there are

lithium batteries, but there are others like nickel. They are more

others like nickel. They are more others like nickel. They are more

heavy. This battery delivers a much heavy. This battery delivers a much

heavy. This battery delivers a much more efficient generation of power

more efficient generation of power more efficient generation of power

were for much lighter weights. This were for much lighter weights. This

were for much lighter weights. This aircraft has got something like

aircraft has got something like aircraft has got something like

four times as much generative four times as much generative

four times as much generative capacity as any previous aircraft.

capacity as any previous aircraft. capacity as any previous aircraft.

It is a without fuel efficiency. It is a without fuel efficiency.

It is a without fuel efficiency. It is a without fuel efficiency.

That is why it was built. -- all That is why it was built. -- all

That is why it was built. -- all about. It was called the most

about. It was called the most environmentally friendly plane ever.

Thank you. Thank you.

Thank you. Staying with Europe, investors may

Staying with Europe, investors may Staying with Europe, investors may

be feeling more relaxed about the be feeling more relaxed about the

be feeling more relaxed about the be feeling more relaxed about the

debt crisis in the eurozone, but as debt crisis in the eurozone, but as

debt crisis in the eurozone, but as far as the region's economic

far as the region's economic far as the region's economic

prospects go, there is little cause prospects go, there is little cause

for optimism. Official forecasts for optimism. Official forecasts

for optimism. Official forecasts from the European Commission are

from the European Commission are from the European Commission are

from the European Commission are out in just a few hours' time. They

out in just a few hours' time. They out in just a few hours' time. They

are expected to be more negative are expected to be more negative

are expected to be more negative than a previous report in autumn.

than a previous report in autumn. than a previous report in autumn.

They predict 2013 will be another They predict 2013 will be another

They predict 2013 will be another tough year. They are expected to

tough year. They are expected to tough year. They are expected to

forecast no growth at all across forecast no growth at all across

forecast no growth at all across forecast no growth at all across

the euro area in 2013. And just 1% the euro area in 2013. And just 1%

the euro area in 2013. And just 1% the euro area in 2013. And just 1%

in 2014. It will take at least in 2014. It will take at least

in 2014. It will take at least until 2016 for the economy to

until 2016 for the economy to until 2016 for the economy to

recover to previous levels. Some recover to previous levels. Some

recover to previous levels. Some countries are worse off than others.

countries are worse off than others. countries are worse off than others.

Spain, Italy and Portugal may be Spain, Italy and Portugal may be

Spain, Italy and Portugal may be predicted to stay into recession

predicted to stay into recession predicted to stay into recession

until 2014. Greece for much longer. until 2014. Greece for much longer.

until 2014. Greece for much longer. France could struggle to post any

France could struggle to post any growth this year.

growth this year. growth this year.

Staying in the eurozone, Italians Staying in the eurozone, Italians

Staying in the eurozone, Italians Staying in the eurozone, Italians

are going to the polls this weekend are going to the polls this weekend

are going to the polls this weekend are going to the polls this weekend

in an election billed as a make-or- in an election billed as a make-or-

in an election billed as a make-or- break one for the country. We have

break one for the country. We have break one for the country. We have

been speaking to one of Italy's been speaking to one of Italy's

most successful businessman about most successful businessman about

most successful businessman about most successful businessman about

his concerns and found that he has his concerns and found that he has

his concerns and found that he has little confidence in any of the

candidates. candidates.

candidates. This is the global fashion house

This is the global fashion house This is the global fashion house

that Renzo Rosso built. From the that Renzo Rosso built. From the

that Renzo Rosso built. From the post -- first pair of bell-bottoms

post -- first pair of bell-bottoms post -- first pair of bell-bottoms

to a company employing 6,000 to a company employing 6,000

to a company employing 6,000 worldwide. As fast as the local

worldwide. As fast as the local worldwide. As fast as the local

economy stagnated, this company has economy stagnated, this company has

economy stagnated, this company has economy stagnated, this company has

expanded. It is no wonder that he expanded. It is no wonder that he

expanded. It is no wonder that he expanded. It is no wonder that he

says he is unimpressed by the main says he is unimpressed by the main

collection party candidates. They collection party candidates. They

collection party candidates. They need to change a lot, especially

need to change a lot, especially need to change a lot, especially

the attitudes. Nobody is thinking the attitudes. Nobody is thinking

the attitudes. Nobody is thinking the attitudes. Nobody is thinking

how to do something for the future. how to do something for the future.

how to do something for the future. how to do something for the future.

They had just thinking of how to They had just thinking of how to

They had just thinking of how to make some little adjustments. They

make some little adjustments. They make some little adjustments. They

make some little adjustments. They do not have the vision. If you

do not have the vision. If you do not have the vision. If you

do not have the vision. If you listen to them, it is not a problem

listen to them, it is not a problem listen to them, it is not a problem

listen to them, it is not a problem of power to do something. It is

of power to do something. It is of power to do something. It is

of power to do something. It is of power to do something. It is

just a little idea. But it is not a just a little idea. But it is not a

just a little idea. But it is not a real programme. We cannot think

real programme. We cannot think real programme. We cannot think

real programme. We cannot think real programme. We cannot think

this man is a man who is going to this man is a man who is going to

this man is a man who is going to change Italy. Young people are the

change Italy. Young people are the change Italy. Young people are the

change Italy. Young people are the DNA of this company. But the point

DNA of this company. But the point DNA of this company. But the point

DNA of this company. But the point made is that young people find it

made is that young people find it made is that young people find it

difficult to get jobs, because many difficult to get jobs, because many

difficult to get jobs, because many difficult to get jobs, because many

are a lost generation. It is nice are a lost generation. It is nice

are a lost generation. It is nice are a lost generation. It is nice

for me to work with young people. for me to work with young people.

for me to work with young people. They are always magic. They have

They are always magic. They have They are always magic. They have

virgin blood. No contaminants. They virgin blood. No contaminants. They

virgin blood. No contaminants. They virgin blood. No contaminants. They

want to do something. That is where want to do something. That is where

want to do something. That is where the mentality of the company is

the mentality of the company is the mentality of the company is

the mentality of the company is very modern. We I thinking of how

very modern. We I thinking of how very modern. We I thinking of how

to approach the market and build to approach the market and build

communication. The way that communication. The way that

communication. The way that everything works together. I use

everything works together. I use everything works together. I use

the young people in every position. the young people in every position.

the young people in every position. This country is running from people

This country is running from people This country is running from people

This country is running from people who are part of the old generation.

who are part of the old generation. who are part of the old generation.

It needs to change a lot. It needs to change a lot.

Some other news. Britain's Some other news. Britain's

Some other news. Britain's competition watchdog may order a

competition watchdog may order a competition watchdog may order a

shake up of the Accounting Industry shake up of the Accounting Industry

shake up of the Accounting Industry later today. There are concerns

later today. There are concerns later today. There are concerns

that the big for accounting firms that the big for accounting firms

dominate the auditing business. dominate the auditing business.

dominate the auditing business. There was widespread anger at

There was widespread anger at There was widespread anger at

accountants defence a clean bill of accountants defence a clean bill of

accountants defence a clean bill of health just before the 2000 and

health just before the 2000 and health just before the 2000 and

Date crisis. -- 2008 crisis. They Date crisis. -- 2008 crisis. They

Date crisis. -- 2008 crisis. They Date crisis. -- 2008 crisis. They

may be required to have an audit may be required to have an audit

may be required to have an audit every few years to stop them

every few years to stop them every few years to stop them

getting too close to their clients. getting too close to their clients.

getting too close to their clients. A natural child has lost a

A natural child has lost a shareholder vote. The Indonesian

shareholder vote. The Indonesian shareholder vote. The Indonesian

coal mining firm that he compounded coal mining firm that he compounded

coal mining firm that he compounded in 2010. His Indonesian partners,

in 2010. His Indonesian partners, in 2010. His Indonesian partners,

the super wealthy family, have the super wealthy family, have

the super wealthy family, have fallen out over allegations of

fallen out over allegations of financial irregularities and phone

financial irregularities and phone financial irregularities and phone

financial irregularities and phone hacking. It has wiped two toads off

hacking. It has wiped two toads off the value of shares.

the value of shares. the value of shares.

the value of shares. For a quick look at how markets are

For a quick look at how markets are For a quick look at how markets are

doing. Asian shares managed to get doing. Asian shares managed to get

doing. Asian shares managed to get back some of the previous day's

back some of the previous day's back some of the previous day's

losses. Weak US and European data losses. Weak US and European data