18/06/2013 World Business Report


18/06/2013

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Prost digit. -- prostitutes. Now it is time for our World Business

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Report. Banking secrecy in Switzerland is

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in the spotlight again. Politicians vote on whether to pass on client

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details. And China launches its first carbon trading scheme.

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Welcome to World Business Report. Also when the programme, the latest

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on the Paris Air Show. First, as world leaders grapple at the G8

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with the thorny issue of tax evasion, Switzerland's parliament

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is set to vote back on a controversial bill that could allow

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information to be passed to authorities. The deal is the result

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of huge pressure from Washington after revelations that American

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Account holders were helped to avoid tax. The bill would put an

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end to Swiss banking secrecy. Nobody likes being told what to do.

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Swiss members of parliament are no exception. The deal before them is

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being insisted on, not by their own electorate but the United States.

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They are furious that billions of dollars of tax revenue could have

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been stored in Swiss banks. They're demanding details of American

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Account holders and the Swiss bankers who may have advised them.

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Other details of the deal are not being revealed to Parliament at the

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request of Washington. After hours of debate, last week the Senate

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said yesterday deal, reluctantly. They are afraid of the consequences

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of seeing all. Try and the ASEAN we have the choice of a controlled

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emergency landing or a crash. It is clear what we have to do. --

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TRANSLATION: We have the choice. The way are warning those who think

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they are not affected. This nightmare could come to you, too.

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The banks themselves are very nervous. Indictments from the US

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are a certainty if the bill does not pass. Every Swiss banker knows

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what happened to the oldest private bank when it was indicted. It

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closed its doors for good. To come into Loch, the bill must get

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approval in Parliament. It will be a close-run thing. Many politicians

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do not see why they should be the once to kill off banking Secretary.

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-- secrecy. The first pilot carbon trading

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scheme in China comes into operation today. The China's

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planning to experiment with the scheme over the next three years.

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It will encourage businesses to cut pollution. It has been so bad

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recently that normal activity has ground to a halt. The latest

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figures from the UN sure that, as of 2008, China accounted for more

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than 25 % of emissions in the world. The bows last year. China has

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promised to reduce emissions relative to economic output by 2020.

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First, they will need to come up with the working scheme. Attempts

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to set up a carbon trading scheme in Europe are currently floundering.

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Let's get more. Thank you for being on the programme. How will this

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teamwork? They Chinese scheme will be

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operating with a cap. Companies will be given a locations. They

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will be allowed to trade their permits. Companies that produce

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more emissions will be able to sell off their permits. The market will

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achieve the most effective and efficient way. The scheme is not

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working very well at the moment in Europe. It is not effective to

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trade the emissions. Do you think you will have the same problem in

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China? It is hard to say at the moment. A couple of years ago, I

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was part of a discussion where people were invited to share

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experiences with carbon schemes. We shared some of our experiences.

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China has been doing their research. It seems like they are well

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prepared to launch their national scheme. With any investor, price

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transparency is important. We will have to see what happens. It is

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very important, isn't it, that's something works? Pollution levels

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have been debilitating. It has been very bad. The launch of the scheme

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shows strong political will from China's perspective. It is

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important that we see transparency, longevity and confidence. The

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economy is looking towards transparency. They want to see if

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the pilot schemes become national. We will bring you the latest from

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the Paris Air Show. We have been talking to a representative from

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the parent company of Airbus. We are talking to the crowds. They

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are enjoying manoeuvres from the largest passenger plane in the

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world. It is the Airbus A350. A lot of delays with that plane. There

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are developing low fuel burning techniques. -- they are. The plane

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has pre-sold around 600. The hope is that it will make another

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appearance before the end of the week. When we launched the

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programme, we still had subsidiary companies operating nationally. We

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have had problems. There are many things I could tell you that are

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positive. Over 600 orders. Customers want these fuel-saving so

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now. What can we say about this? The 330s are still selling well. We

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sold more after the launch of the 787. We're planning to deliver the

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first aircraft by the end of next year. That is a helluva schedule. A

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lot of focus. We are looking for something like 10 aircraft a month

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eventually. Not long ago, you were pursuing a merger with British

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Aerospace. A lot of people think this is unfinished business and you

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will have to make some changes. am thing I can tell you is that we

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will not give up. We are very well positioned. We have at a very good

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revenue. Very strong and able not six. That will remain the main

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strength of the company going forward.

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Let's move on to bring you Other Business News. The New York-based

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hedge fund company Third. Has raised its stake in Soni. They want

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to have more of a say on the board. Third Point. Giggle has delayed a

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stock split. It was a class action brought in Massachusetts. It was

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alleged that the co-founders engineer at the stock in a way that

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unfairly benefited them while short changing the rest of the

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shareholders at the company. This clears the way for them to issue

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