23/04/2013 World Business Report

performance of opening Woodstock. Now it is time to get the latest

financial news. A bruised Apple. The world's

biggest technology company Bill announces first fall in profits for

ten years. Growth in China's factories is slowing, suggesting

the economy faces global head wind. Hello and welcome. Also on the

programme, we hear from the chief- executive of Goldman Sachs. For

years, it was an investor's dream. Apple became the most valued

company in the world last year. Recently, the share price has been

sinking one concerns it is running out of ideas to find the next

breakthrough gadget. It is battling to overcome a hot competition from

the likes of Samsung. They will reveal their first fall in profits

in a decade. The instantly recognisable ring off and iPhone.

This is the latest model from a company that was unstoppable. Today,

Apple is operating under a different tune. You can see that

Apple has been on a steady decline since reaching its record high. It

is hovering at around $400 at the moment. That trend is worrying to

some enthusiasts. They won from a stock to a great stock to a great

tech stock to a could not fail way to make money. When you step up

that far, you eventually have to fall down. What we have seen them

do is fall down the stairs back to still being a great tech stock.

Make the mistake, they remain hugely successful. They are the

largest tech firm in the world. Despite strong competition from

Samsung and Android, there are dominating the smart phone and

tabloid markets. Their most popular products were updated last fault.

As a money-making machine, they do not have to do anything apart from

put up the products that they have. They will continue to make money

for a long time. Making money is not the problem. And proving his

line-up may not be enough to stop customers and investors who are

eager to take a bite out of something new. The real focus is

everyone wants to know what they will say later. We will let you

know on the BBC. Let's look at China. Growth in its vast factory

sector dipped in April as new export orders shrank. That is the

finding of an initial survey of factory managers which is done by

HSBC a few hours ago. Rico Hizon is in Singapore. Nice to see you. More

news to say that China is struggling. Absolutely. The data

was a disappointment after manufacturing expanded the previous

month. The economy still faces major global obstacles. The

eurozone is still mired in a recession. This initially HSBC

purchasing managers' index fell to 50.5 in the month of April. That is

compared to 51.6 last month. The number is still above 50. That is

still an expansion in the economy. It has been suggested that the cash

moving around the economy is still not having the desired effect of

jump-start in growth. Instead, it could exacerbate property and the

risk of inflation. The government is expected to step up once again.

They will boost investment and consumption. There will be a more

sustainable domestic expansion pathos dog thank you for keeping us

up to date. One of the most powerful bankers in

the world is in London for the Goldman Sachs 10,000 small

businesses programme. It equips entrepreneurs to run their own

businesses. Kevin Davis met up with him to find out why so many small

businesses find it difficult to borrow money from banks. There is a

lot of liquidity in the world. There are small businesses that are

starving for cash. A lot of banks are not investing that cash. We are

and investing bank. We are not a lending bank. In a recessionary

time, the risks of enterprises are higher. Banks are afraid of taking

losses. There are repercussions of losses. They are very conservative.

The market pressure is for them to be conservative. As a result of

that Conservatism, the market transaction is less likely to be

done in this market than it was in a previous time. Has finance become

too complicated? You have even delivers some results for

shareholders. It is complicated. It is all derivative. It is

complicated. The basics do not need to be complicated. The basics of

banking are still the same. The problem that you just correctly

described, there is nothing complicated about that at all. You

lend out money. And, by the way, lending money for a financial

institution is the riskiest thing you can do. You send money out the

door and you hope it comes back. More than hope, you do work, credit

analysis, but, at the end of the day, you have to hope it comes back.

When you deal with an economy that is where the growth is not

necessarily building, it is an economic downturn, it should not

just be someone failed to pay you back but it could be because they

could not, they are not making money themselves. When will we be

back in what we call normal times? Anything you are living through

seems extraordinary. Normal Times is when you are writing your

memoirs. The statistics were different in the late 1970s. That

was a bad time. It is hard to feel the weight of it because it is

resolved and over. That was interesting. The chief executive of

Goldman Sachs. Let's squeeze in more business. British Airways has

ordered more or Airbus A350 aircraft. They are talking to both

Airbus and Boeing about supplying aircraft to the Spanish arm, Iberia.

This is the end of the deal. The rating agency Standard and Poor's

is saying it sees more than a one- third chance that it could

downgrade to plan's sovereign ratings because of uncertainty

about whether the government's peers to solve growth and inflation

will work. Just a few minutes ago, the Civil Aviation Authority in

Japan said final authorisation to resume flights may come as early as

Thursday. Boeing is replacing batteries and some of the grounded

fleet. It is moving a step closer to getting the dream liners flying

again. It comes on the back of a revamped battery design. The entire

fleet of 787s had been grounded. Deliveries at been grounded. -- all

Everything he did law. Significantly Seoul in Hong Kong.

The markets are impacted by what is going on. The Yen has strengthened