21/11/2013 World Business Report

gathered by America's National Security Agency, according to an

investigation by the Guardian and Channel 4 News.

Can Greece bear more austerity? Who will lead the charge in the world of

electric cars? Also in the programme, markets are

digestive in the latest words from the third of reserve. Does Greece

need more austerity? And does it have a choice? It has chicken and

the harshest austerity seen in modern times. Unemployment is at a

record of over 27%. Tens of thousands of people marked the

anniversary of the student uprising. Greece Needs to make more cuts if it

is to get the next instalments. It is a difficult position to be in,

isn't it? Clearly it is so hard for people in Greece, can they take any

more? The government says they can't. They say that Greece faces a

fiscal gap of around 2.5 billion next year. The Greek government

though says that that gap is smaller. The troika is simply not

convinced. Tax evasion has been so rampant that so many years here. The

troika has left Athens, Greece will present its budget today. The

negotiations will continue into December and possibly January two.

Has anything been leaked in advance? There are some positive elements.

They foresee that Greece will come out of recession next year. A very

slight growth of .6%. There will be a primary budget surplus. It will

only be in deficit to service its national debt. Apart from that, it

is not really a positive picture. You mentioned six years of

recession, three or four years of austerity, unemployment at almost

28% and amongst young people at over 60%. That is why Greece is in such a

dire situation. That optimism has not really rubbed off on the

majority of Greek people. The US Federal reserve is saying

stimulus... Let's go live to our team in Singapore for the market

reactions. Whenever the Fed minutes are released, there is movement in

Asia. What is happening at the moment? It has been an interesting

day. Most of the local markets have taken umbrage at what was said. They

are all down with investors worrying about the prospect that one day they

will wake up and there will be no stimulus or at least a lot less than

what there is now. It has actually hit a six`month high. That has been

attributed in part to the weaker yen. Remembering that just yesterday

we saw Japanese exports record their biggest rise in three years. What

did the minutes tell us? We'll want to know when that move will be

made. Given how all markets swing, Federal reserve officials feel they

can start scaling back the stimulus programme in a couple of months. To

be precise, they say that the data would warrant the trimming. It does

seem we are getting closer to that point when the tapering will

actually start and we can all stop guessing. It is press day at the

Tokyo Motor Show, and there is plenty here for the world's motoring

journalists to drool over. Motor shows are all about glitz, glamour

and the girls. But Tokyo is really about technology. Nowhere more so

than at the world's biggest car company, Toyota. This may not look

like it, but it is probably the most single significant car at the Tokyo

Motor Show. This is Toyota's fuel cell electric vehicle. It looks

simple, but inside the fuel cell, the structure is very complicated.

He explains to me why, unlike other electric vehicles, this car will not

suffer from what has become known as range anxiety. The driving range is

500 kilometres. Under usual usage. That is almost more than double in

other electric vehicles. It takes only three minutes to fill up.

On the other side of the exhibition is Toyota's great Japanese rival,

Nissan. The first Japanese company to produce zero emissions vehicles

was not Toyota, it was Nissan, with the Leaf. They have sold 65,000 of

these but there have been problems. Nissan's electric cars run on

batteries. That means they can only manage about 150 kilometres on one

charge. It has been slow. Squeezing into the back of their latest

electric concept, Nissan's boss tells me why that will soon be not

be a problem. We are at 20 minutes with a quick charge for electric.

This is moving all the time. We propose 15 minutes, ten minutes. We

are coming to a very reasonable time. When the infrastructure is

ready, you will see a big takeoff of electric car sales. Whether they are

powered by a battery or by fuel cell, electric cars certainly appear

to be the future. Japan's big automakers are preparing to run

circles around the competition. It is a very important day for Janet

Yellen. She is expected to approve her nomination, or at least

President Obama's nomination, because she is his choice. If she

has approved then it will go to the wider Senate. Let us show you those

market boards. It is very much about the Fed and what they believe in

terms of the US economy. The Newgate is bucking the trend. `` Nikkei. I

will see you soon for a look through the papers.

The government says it is going to work to increase prosecution rates.

A sniffer dog checksum of the million and a half tonnes of freight

which arrive at Heathrow Airport each year. `` checks some. Although

staff were good at discovering smuggled goods, they were less

effective at dealing with