26/02/2013 World Business Report


26/02/2013

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Those are the latest headlines from Those are the latest headlines from

:00:00.:00:01.

BBC News. Now for the latest BBC News. Now for the latest

:00:01.:00:02.

BBC News. Now for the latest financial news with Sally Bundock

:00:02.:00:12.
:00:12.:00:18.

financial news with Sally Bundock The prospect of a political

:00:18.:00:19.

The prospect of a political The prospect of a political

:00:19.:00:20.

stalemate in Italy has the markets stalemate in Italy has the markets

:00:20.:00:24.

and business worried. and business worried.

:00:24.:00:25.

and business worried. and business worried.

:00:25.:00:26.

Sony wants to be a big player in Sony wants to be a big player in

:00:26.:00:27.

mobile, the company's chief mobile, the company's chief

:00:28.:00:29.

mobile, the company's chief mobile, the company's chief

:00:29.:00:29.

executive tells us how he plans, to executive tells us how he plans, to

:00:29.:00:39.

Welcome to World Business Report. Welcome to World Business Report.

:00:39.:00:40.

Welcome to World Business Report. I'm Sally Bundock. Also in the

:00:40.:00:41.

I'm Sally Bundock. Also in the programme: The International Herald

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programme: The International Herald programme: The International Herald

:00:42.:00:43.

programme: The International Herald Tribune is to get a makeover. We

:00:43.:00:46.

Tribune is to get a makeover. We will have the details.

:00:46.:00:47.

will have the details. Markets hate uncertainty, but

:00:47.:00:49.

Markets hate uncertainty, but Markets hate uncertainty, but

:00:49.:00:49.

that's what the Italian election that's what the Italian election

:00:49.:00:51.

that's what the Italian election seems to have delivered. The

:00:51.:00:52.

seems to have delivered. The seems to have delivered. The

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centre-left coalition led by Pier centre-left coalition led by Pier

:00:53.:00:54.

centre-left coalition led by Pier Luigi Bersani is short of the

:00:54.:00:55.

Luigi Bersani is short of the Luigi Bersani is short of the

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majority it needs in the Upper majority it needs in the Upper

:00:56.:00:58.

majority it needs in the Upper majority it needs in the Upper

:00:58.:00:59.

House to govern. It was denied a House to govern. It was denied a

:00:59.:01:00.

House to govern. It was denied a clear victory, in part by the

:01:00.:01:01.

clear victory, in part by the astonishing success of comedian,

:01:01.:01:04.

astonishing success of comedian, turned politician, Beppe Grillo.

:01:04.:01:05.

turned politician, Beppe Grillo. turned politician, Beppe Grillo.

:01:05.:01:06.

turned politician, Beppe Grillo. The euro has been falling on the

:01:06.:01:07.

The euro has been falling on the The euro has been falling on the

:01:07.:01:09.

news and stock markets have been news and stock markets have been

:01:09.:01:11.

shaky too. More on the markets shaky too. More on the markets

:01:11.:01:12.

shaky too. More on the markets shortly. But first Nigel Cassidy

:01:12.:01:13.

shortly. But first Nigel Cassidy shortly. But first Nigel Cassidy

:01:13.:01:14.

reports on why the Italian economy reports on why the Italian economy

:01:14.:01:24.
:01:24.:01:26.

It is the first working day after It is the first working day after

:01:26.:01:27.

It is the first working day after It is the first working day after

:01:27.:01:28.

It is the first working day after the big vote, but it is too soon to

:01:28.:01:29.

the big vote, but it is too soon to the big vote, but it is too soon to

:01:29.:01:31.

the big vote, but it is too soon to tell if Italy is to take a new

:01:31.:01:32.

tell if Italy is to take a new tell if Italy is to take a new

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economic sand. The budget deficit economic sand. The budget deficit

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economic sand. The budget deficit is just manageable. Yet the new

:01:37.:01:39.

is just manageable. Yet the new administration inherits a business

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administration inherits a business administration inherits a business

:01:41.:01:42.

economy, that after 14 years of economy, that after 14 years of

:01:42.:01:44.

economy, that after 14 years of near zero growth, a double dip

:01:44.:01:46.

near zero growth, a double dip near zero growth, a double dip

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recession, and a year of austerity, recession, and a year of austerity,

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recession, and a year of austerity, is not productive or competitive

:01:48.:01:50.

is not productive or competitive is not productive or competitive

:01:50.:01:52.

enough to create the wealth because enough to create the wealth because

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enough to create the wealth because it means. The prime minister's

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it means. The prime minister's it means. The prime minister's

:01:55.:01:58.

government left the office with a government left the office with a

:01:58.:01:59.

government left the office with a government left the office with a

:01:59.:02:09.
:02:09.:02:21.

lot - mile long list of unfinished TRANSLATION: -- this employer

:02:21.:02:23.

TRANSLATION: -- this employer TRANSLATION: -- this employer

:02:23.:02:25.

thinks Italy should cut the red thinks Italy should cut the red

:02:25.:02:29.

thinks Italy should cut the red tape. And to resist any pressure

:02:29.:02:30.

tape. And to resist any pressure tape. And to resist any pressure

:02:30.:02:32.

from the left to modernise Italy's from the left to modernise Italy's

:02:32.:02:35.

from the left to modernise Italy's employment rules. They tend to be

:02:35.:02:36.

employment rules. They tend to be employment rules. They tend to be

:02:36.:02:38.

over-protective of the ones in the over-protective of the ones in the

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over-protective of the ones in the system and very unfair towards the

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system and very unfair towards the system and very unfair towards the

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system and very unfair towards the ones who are out of the system.

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ones who are out of the system. ones who are out of the system.

:02:44.:02:49.

What we encourage is more balanced. What we encourage is more balanced.

:02:49.:02:55.

What we encourage is more balanced. What we encourage is more balanced.

:02:55.:02:57.

We want a law that has less We want a law that has less

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We want a law that has less constraints on the company side.

:02:59.:03:01.

constraints on the company side. constraints on the company side.

:03:01.:03:07.

And to allow more flexibility. And to allow more flexibility.

:03:07.:03:09.

And to allow more flexibility. began company owes its existence to

:03:09.:03:13.

began company owes its existence to began company owes its existence to

:03:13.:03:14.

early reforms, helping start -- early reforms, helping start --

:03:14.:03:15.

early reforms, helping start -- made its way through Italian

:03:15.:03:19.

made its way through Italian made its way through Italian

:03:19.:03:20.

bureaucracy. Sometimes I have the bureaucracy. Sometimes I have the

:03:20.:03:21.

bureaucracy. Sometimes I have the bureaucracy. Sometimes I have the

:03:22.:03:25.

feeling that we are like a big feeling that we are like a big

:03:25.:03:29.

feeling that we are like a big feeling that we are like a big

:03:29.:03:30.

balloon. We must work on this. And balloon. We must work on this. And

:03:30.:03:32.

balloon. We must work on this. And balloon. We must work on this. And

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then we can fly. It is 14 years then we can fly. It is 14 years

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then we can fly. It is 14 years since any telling government has

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since any telling government has since any telling government has

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managed to sustain growth. Before managed to sustain growth. Before

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managed to sustain growth. Before that can ever happen, been the

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that can ever happen, been the that can ever happen, been the

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prime minister has to reassure prime minister has to reassure

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prime minister has to reassure Germany, the financial markets, and

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Germany, the financial markets, and Germany, the financial markets, and

:03:44.:03:45.

international lenders that Italy is international lenders that Italy is

:03:45.:03:51.

a reliable economic partner. a reliable economic partner.

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a reliable economic partner. a reliable economic partner.

:03:53.:03:55.

I am joined by market analyst for I am joined by market analyst for

:03:55.:03:56.

I am joined by market analyst for more analysis. The markets have

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more analysis. The markets have more analysis. The markets have

:03:57.:03:58.

reacted in the way we expected. reacted in the way we expected.

:03:58.:04:00.

reacted in the way we expected. reacted in the way we expected.

:04:00.:04:01.

Shares falling in the US as it has Shares falling in the US as it has

:04:01.:04:02.

Shares falling in the US as it has emerged there is no clear winner.

:04:02.:04:03.

emerged there is no clear winner. emerged there is no clear winner.

:04:03.:04:07.

The Yuri sinking as well. Exactly. The Yuri sinking as well. Exactly.

:04:07.:04:08.

The Yuri sinking as well. Exactly. His has been the worst possible

:04:08.:04:13.

His has been the worst possible His has been the worst possible

:04:13.:04:16.

outcome, in many respects. -- this outcome, in many respects. -- this

:04:16.:04:18.

outcome, in many respects. -- this has. We were looking for a

:04:19.:04:20.

has. We were looking for a has. We were looking for a

:04:20.:04:21.

correction. The outcome is very correction. The outcome is very

:04:21.:04:24.

correction. The outcome is very much a backlash against Brussels.

:04:24.:04:25.

much a backlash against Brussels. much a backlash against Brussels.

:04:25.:04:32.

Seeing that the majority is anti- Seeing that the majority is anti-

:04:32.:04:33.

Seeing that the majority is anti- euro. The austerity measures are

:04:33.:04:35.

euro. The austerity measures are euro. The austerity measures are

:04:35.:04:37.

being driven backwards. We will see being driven backwards. We will see

:04:37.:04:38.

being driven backwards. We will see being driven backwards. We will see

:04:38.:04:40.

further down sides to come. We must further down sides to come. We must

:04:40.:04:41.

further down sides to come. We must watch closely, the interest rate on

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watch closely, the interest rate on watch closely, the interest rate on

:04:46.:04:49.

Italian debts. That is the biggest Italian debts. That is the biggest

:04:49.:04:51.

Italian debts. That is the biggest issue. We have seen the interest

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issue. We have seen the interest issue. We have seen the interest

:04:52.:04:53.

rate for considerably from the last rate for considerably from the last

:04:53.:04:56.

rate for considerably from the last rate for considerably from the last

:04:56.:04:57.

few months. This comes on the back few months. This comes on the back

:04:57.:04:58.

few months. This comes on the back of my a Jardine making statements

:04:59.:05:00.

of my a Jardine making statements of my a Jardine making statements

:05:00.:05:00.

of my a Jardine making statements that he will do whatever it takes

:05:01.:05:02.

that he will do whatever it takes that he will do whatever it takes

:05:02.:05:12.
:05:12.:05:13.

that he will do whatever it takes -- Mario Draghi. The eurozone debt

:05:13.:05:14.

-- Mario Draghi. The eurozone debt -- Mario Draghi. The eurozone debt

:05:14.:05:17.

crisis could loom even larger. crisis could loom even larger.

:05:17.:05:18.

crisis could loom even larger. crisis could loom even larger.

:05:18.:05:19.

sounds like this Dell could be with sounds like this Dell could be with

:05:19.:05:22.

sounds like this Dell could be with us for some weeks. Had eating

:05:22.:05:24.

us for some weeks. Had eating us for some weeks. Had eating

:05:24.:05:27.

traders will behave between now and traders will behave between now and

:05:27.:05:29.

traders will behave between now and traders will behave between now and

:05:29.:05:29.

then? -- how do you think. Markets then? -- how do you think. Markets

:05:29.:05:32.

then? -- how do you think. Markets do not like uncertainty. The debt

:05:33.:05:35.

do not like uncertainty. The debt do not like uncertainty. The debt

:05:35.:05:36.

do not like uncertainty. The debt markets is the one area which will

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markets is the one area which will markets is the one area which will

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markets is the one area which will see the -- seed this take place.

:05:38.:05:40.

see the -- seed this take place. see the -- seed this take place.

:05:40.:05:41.

Italy is the third-largest economy Italy is the third-largest economy

:05:41.:05:42.

Italy is the third-largest economy Italy is the third-largest economy

:05:42.:05:43.

in the eurozone. It has a certain in the eurozone. It has a certain

:05:43.:05:44.

in the eurozone. It has a certain amount of power within the eurozone

:05:44.:05:54.
:05:54.:06:02.

Thank you. We will keep you across Thank you. We will keep you across

:06:02.:06:03.

Thank you. We will keep you across Thank you. We will keep you across

:06:03.:06:04.

all of the market reaction on the all of the market reaction on the

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all of the market reaction on the BBC, to that major story.

:06:06.:06:07.

BBC, to that major story. BBC, to that major story.

:06:07.:06:08.

The boss of the ailing electronics The boss of the ailing electronics

:06:08.:06:09.

The boss of the ailing electronics group Sony has warned his workforce

:06:09.:06:10.

group Sony has warned his workforce group Sony has warned his workforce

:06:10.:06:11.

group Sony has warned his workforce of more hard times ahead. Nearly a

:06:11.:06:12.

of more hard times ahead. Nearly a of more hard times ahead. Nearly a

:06:12.:06:13.

of more hard times ahead. Nearly a year into his tenure as CEO, Kazuo

:06:13.:06:14.

year into his tenure as CEO, Kazuo year into his tenure as CEO, Kazuo

:06:14.:06:15.

year into his tenure as CEO, Kazuo Hirai said his staff needed to be

:06:15.:06:16.

Hirai said his staff needed to be Hirai said his staff needed to be

:06:16.:06:17.

Hirai said his staff needed to be as resolute as him to turn things

:06:17.:06:18.

as resolute as him to turn things as resolute as him to turn things

:06:18.:06:19.

around. He is speaking to our around. He is speaking to our

:06:19.:06:20.

around. He is speaking to our correspondent at the Mobile World

:06:20.:06:21.

correspondent at the Mobile World correspondent at the Mobile World

:06:21.:06:22.

Congress in Barcelona. He also said Congress in Barcelona. He also said

:06:22.:06:24.

Congress in Barcelona. He also said that success in the mobile industry

:06:24.:06:25.

that success in the mobile industry that success in the mobile industry

:06:25.:06:34.

Sony believes it has the history, Sony believes it has the history,

:06:34.:06:35.

Sony believes it has the history, the research capability, and the

:06:35.:06:36.

the research capability, and the the research capability, and the

:06:36.:06:37.

sheer marketing muscle to be a sheer marketing muscle to be a

:06:37.:06:39.

sheer marketing muscle to be a major player in mobile phones.

:06:39.:06:40.

major player in mobile phones. major player in mobile phones.

:06:40.:06:42.

major player in mobile phones. Right now, it has some attractive -

:06:42.:06:43.

Right now, it has some attractive - Right now, it has some attractive -

:06:43.:06:44.

- attractive handsets well reviewed - attractive handsets well reviewed

:06:44.:06:46.

- attractive handsets well reviewed - attractive handsets well reviewed

:06:46.:06:47.

by the critics. Despite all of that, by the critics. Despite all of that,

:06:47.:06:49.

by the critics. Despite all of that, by the critics. Despite all of that,

:06:49.:06:50.

it is struggling to make an impact it is struggling to make an impact

:06:50.:06:52.

it is struggling to make an impact it is struggling to make an impact

:06:52.:06:53.

or at a profit. I asked the chief or at a profit. I asked the chief

:06:53.:06:54.

or at a profit. I asked the chief executive Kazuo Hirai will what

:06:54.:06:56.

executive Kazuo Hirai will what exactly is going on. One of the

:06:56.:06:58.

exactly is going on. One of the exactly is going on. One of the

:06:58.:06:59.

biggest challenges we had in the biggest challenges we had in the

:06:59.:07:00.

biggest challenges we had in the biggest challenges we had in the

:07:00.:07:01.

past was the fact that our mobile past was the fact that our mobile

:07:01.:07:02.

past was the fact that our mobile business was based on a joint

:07:02.:07:04.

business was based on a joint venture. When the originally

:07:04.:07:06.

venture. When the originally venture. When the originally

:07:06.:07:07.

started the joint venture, both of started the joint venture, both of

:07:07.:07:09.

started the joint venture, both of the parent company's were relying

:07:09.:07:10.

the parent company's were relying the parent company's were relying

:07:10.:07:11.

the parent company's were relying on word -- were confused about the

:07:11.:07:15.

on word -- were confused about the on word -- were confused about the

:07:15.:07:16.

objectives. On the way, whether it objectives. On the way, whether it

:07:16.:07:18.

objectives. On the way, whether it is the use of older operating

:07:18.:07:19.

is the use of older operating is the use of older operating

:07:19.:07:20.

is the use of older operating systems of whether we need to go

:07:20.:07:21.

systems of whether we need to go systems of whether we need to go

:07:21.:07:22.

mass-market, we have taken more mass-market, we have taken more

:07:23.:07:29.

mass-market, we have taken more time to discuss rather than execute.

:07:29.:07:30.

time to discuss rather than execute. time to discuss rather than execute.

:07:30.:07:31.

time to discuss rather than execute. Where does mobile come for you? How

:07:31.:07:33.

Where does mobile come for you? How Where does mobile come for you? How

:07:33.:07:34.

Where does mobile come for you? How important is it? As far as the

:07:34.:07:36.

important is it? As far as the important is it? As far as the

:07:36.:07:37.

mobile business goes, especially in mobile business goes, especially in

:07:37.:07:38.

mobile business goes, especially in mobile business goes, especially in

:07:38.:07:40.

the consumer space, it is front and centre. If we're not in the

:07:40.:07:41.

centre. If we're not in the centre. If we're not in the

:07:42.:07:42.

smartphone Business 1 and Prasad, smartphone Business 1 and Prasad,

:07:42.:07:44.

smartphone Business 1 and Prasad, we're not in the game.

:07:44.:07:46.

we're not in the game. we're not in the game.

:07:46.:07:47.

PlayStation 4 launch last week, PlayStation 4 launch last week,

:07:47.:07:50.

PlayStation 4 launch last week, PlayStation 4 launch last week,

:07:50.:07:52.

where was sick on sale? It was not where was sick on sale? It was not

:07:53.:07:54.

where was sick on sale? It was not where was sick on sale? It was not

:07:54.:07:55.

there. -- where was the console? there. -- where was the console?

:07:55.:07:56.

there. -- where was the console? there. -- where was the console?

:07:56.:07:57.

there. -- where was the console? still have a long way to go for the

:07:57.:07:58.

still have a long way to go for the still have a long way to go for the

:07:58.:07:59.

actual product launch. They will be actual product launch. They will be

:07:59.:08:01.

actual product launch. They will be actual product launch. They will be

:08:01.:08:02.

a lot of opportunities for us to a lot of opportunities for us to

:08:02.:08:03.

a lot of opportunities for us to provide additional details on the

:08:03.:08:04.

provide additional details on the provide additional details on the

:08:05.:08:06.

PlayStation 4. It was not actually PlayStation 4. It was not actually

:08:06.:08:08.

PlayStation 4. It was not actually PlayStation 4. It was not actually

:08:08.:08:09.

a launch. We just talked about it. a launch. We just talked about it.

:08:09.:08:10.

a launch. We just talked about it. There'll be more information to

:08:10.:08:11.

There'll be more information to There'll be more information to

:08:11.:08:13.

come. It keeps people guessing and come. It keeps people guessing and

:08:13.:08:15.

come. It keeps people guessing and come. It keeps people guessing and

:08:15.:08:17.

that is a good thing. If there is that is a good thing. If there is

:08:17.:08:18.

that is a good thing. If there is that is a good thing. If there is

:08:18.:08:19.

one thing they do you still think one thing they do you still think

:08:19.:08:21.

one thing they do you still think one thing they do you still think

:08:21.:08:21.

it needs a lot of attention, what it needs a lot of attention, what

:08:22.:08:25.

it needs a lot of attention, what it needs a lot of attention, what

:08:25.:08:26.

is the number one thing? I think is the number one thing? I think

:08:26.:08:27.

is the number one thing? I think is the number one thing? I think

:08:27.:08:28.

the number one thing that I need to the number one thing that I need to

:08:28.:08:30.

the number one thing that I need to the number one thing that I need to

:08:30.:08:32.

continue to push our own is really continue to push our own is really

:08:32.:08:34.

continue to push our own is really to share and really convey the

:08:34.:08:35.

to share and really convey the to share and really convey the

:08:35.:08:37.

sense of urgency that I personally sense of urgency that I personally

:08:37.:08:40.

sense of urgency that I personally have to turn the company around.

:08:40.:08:42.

have to turn the company around. Especially the electronics business.

:08:42.:08:44.

Especially the electronics business. Especially the electronics business.

:08:44.:08:45.

And to make sure all 160,000 And to make sure all 160,000

:08:45.:08:47.

And to make sure all 160,000 employees at Sony around the world

:08:47.:08:49.

understand that. understand that.

:08:49.:08:51.

understand that. understand that.

:08:51.:08:54.

That was Kazuo Hirai, the CES of That was Kazuo Hirai, the CES of

:08:54.:08:55.

That was Kazuo Hirai, the CES of That was Kazuo Hirai, the CES of

:08:55.:08:56.

Sony. If you want more from the Sony. If you want more from the

:08:56.:08:57.

Sony. If you want more from the Mobile World Congress, then head to

:08:57.:08:59.

Mobile World Congress, then head to Mobile World Congress, then head to

:08:59.:09:00.

our website. Our technology show our website. Our technology show

:09:00.:09:01.

our website. Our technology show our website. Our technology show

:09:01.:09:02.

Click is also there. They will be Click is also there. They will be

:09:02.:09:03.

Click is also there. They will be demonstrating the new phones and

:09:03.:09:08.

demonstrating the new phones and In other news: Hewlett Packard has

:09:08.:09:09.

In other news: Hewlett Packard has In other news: Hewlett Packard has

:09:09.:09:10.

abandoned an attempt to develop its abandoned an attempt to develop its

:09:10.:09:11.

abandoned an attempt to develop its own operating software for mobile

:09:11.:09:13.

own operating software for mobile own operating software for mobile

:09:13.:09:14.

devices. Three years ago it paid devices. Three years ago it paid

:09:14.:09:20.

devices. Three years ago it paid devices. Three years ago it paid

:09:20.:09:23.

almost $2 billion to buy Palm. The plan was to use its software in see

:09:23.:09:24.

plan was to use its software in see plan was to use its software in see

:09:24.:09:25.

plan was to use its software in see a way in C D eight soft --

:09:25.:09:27.

a way in C D eight soft -- a way in C D eight soft --

:09:27.:09:28.

smartphone and tablet business. But smartphone and tablet business. But

:09:28.:09:29.

smartphone and tablet business. But smartphone and tablet business. But

:09:29.:09:30.

that strategy failed and now HP is that strategy failed and now HP is

:09:30.:09:31.

that strategy failed and now HP is selling the technology to South

:09:31.:09:32.

selling the technology to South Korea's LG Electronics.

:09:32.:09:33.

Korea's LG Electronics. Korea's LG Electronics.

:09:33.:09:34.

Korea's LG Electronics. Shares in US book seller Barnes and

:09:34.:09:35.

Shares in US book seller Barnes and Shares in US book seller Barnes and

:09:35.:09:36.

Shares in US book seller Barnes and Noble soared more than 11% in New

:09:36.:09:37.

Noble soared more than 11% in New Noble soared more than 11% in New

:09:37.:09:38.

York on Monday. That's after the York on Monday. That's after the

:09:38.:09:39.

company's founder and current company's founder and current

:09:39.:09:40.

chairman, Leonard Riggio, offered chairman, Leonard Riggio, offered

:09:40.:09:41.

chairman, Leonard Riggio, offered chairman, Leonard Riggio, offered

:09:41.:09:45.

to buy the firm's store and website. to buy the firm's store and website.

:09:45.:09:46.

to buy the firm's store and website. to buy the firm's store and website.

:09:46.:09:48.

It has 689 bookstores in 50 states. It has 689 bookstores in 50 states.

:09:48.:09:49.

It has 689 bookstores in 50 states. Rival Borders went out of business

:09:49.:09:51.

in 2011. in 2011.

:09:51.:09:52.

in 2011. in 2011.

:09:52.:09:53.

The New York Times is changing the The New York Times is changing the

:09:53.:09:54.

The New York Times is changing the name of the International Herald

:09:54.:09:55.

name of the International Herald name of the International Herald

:09:55.:09:56.

Tribune, ending 40 years of the Tribune, ending 40 years of the

:09:56.:09:57.

Tribune, ending 40 years of the brand. Under a relaunch later this

:09:57.:09:58.

brand. Under a relaunch later this brand. Under a relaunch later this

:09:58.:09:59.

brand. Under a relaunch later this year the paper will be called the

:09:59.:10:00.

year the paper will be called the year the paper will be called the

:10:00.:10:01.

International New York Times. Chief International New York Times. Chief

:10:01.:10:02.

International New York Times. Chief Executive Mark Thomson is hoping

:10:02.:10:03.

Executive Mark Thomson is hoping Executive Mark Thomson is hoping

:10:03.:10:04.

Executive Mark Thomson is hoping the move will help raise the number

:10:04.:10:08.

the move will help raise the number of international subscribers.

:10:08.:10:09.

of international subscribers. of international subscribers.

:10:09.:10:14.

of international subscribers. Now for a look at the markets. That

:10:14.:10:15.

Now for a look at the markets. That Now for a look at the markets. That

:10:15.:10:17.

is the close in the States. is the close in the States.

:10:17.:10:18.

is the close in the States. Piquancy the fall as it emerged

:10:18.:10:20.

Piquancy the fall as it emerged Piquancy the fall as it emerged

:10:20.:10:21.

Piquancy the fall as it emerged what happened in Italy. -- you can

:10:21.:10:26.

what happened in Italy. -- you can what happened in Italy. -- you can

:10:26.:10:28.

see. This is the current form. see. This is the current form.

:10:28.:10:30.

see. This is the current form. see. This is the current form.

:10:30.:10:31.

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