16/12/2013 World Business Report

noticeably, Lawrence of Arabia. Those are the latest headlines. Now

it is time for World Business Report.

On the up. Confidence hit a six-year high among Japanese firms won on

year from Shinzo Abe's overhaul of economic policy. The long road

ahead. Ireland's prime minister promises jobs and an end to tough

budget as the country regains control over its finances.

A very warm welcome. You are with World Business Report. Also in the

programme: We focus on our growing reliance on coal. First of all, a

year ago, Shinzo Abe returned as Prime Minister in Japan. His bold

economic policies were central to his appeal. One year on, so-called

Abenomics has the stamp of approval from Burns, business confidence has

hit a six-year high in the last three months of the year. His three

pronged approach, his three arrows, had shown early signs of success.

The first has been to effectively print more money. The flood of cash

helping to weaken the Japanese yen and make their goods cheaper

overseas. A massive government investment plan is also helping to

keep business is busy and get people spending. It is the third Arrow,

overhauling the entire structure of the world's third biggest economy,

that may prove to be the biggest challenge.

We have been to Tokyo's fishmarket to explore further.

Selling to the highest bidder is one of the pure forms of market forces

in play, injecting more competition -- more competition into the economy

is primarily -- precisely what the Prime Minister wants. 20 years on

since the bursting of the housing bubble, the Japanese economy has

been stagnant for well over two decades. But the big question is

why? Banks are now back on their feet. It is low productivity. In

other words, not enough businesses such as these, which are doing a

brisk trade. That is ultimately the goal of Abenomics. Can they turn

around a stagnant economy with an ageing population and make it

vibrant again? This Souci chef has been working for

over 40 years and does not expect to retire any time soon. We've not just

an ageing but a shrinking population, he has a tough task in

terms are reviving growth, but that is the main essence of structural

reforms. Can they use their existing people much more productively and

that does require firms to invest more and to raise wages. How to do

that in a short period of time is ultimately the challenge.

There is a lot more from her on our website. Another economy hoping for

a reversal of fortunes is Ireland. Today it regains control over its

finances after three years of tough conditions imposed by international

lenders. Did spending cuts and hefty tax rises have made life tough for

ordinary Irish people, wanting a new exodus to Australia and the United

States. Late Sunday, and Kenny made a rare televised appeal, promising

to create jobs and prosperity. By increasing total employment to over

2 million people by 2020, we can replace all of the jobs that were

lost during the crisis with new jobs. Offering many of those who

have left Ireland at the choice to return home. Creating more jobs will

improve our public finances and help to bring the era of tough budget to

an end. EasyJet is back in the dock this week. It is accused of

discriminating against wheelchair users in two separate cases. French

courts will hear legal challenges from passengers who were barred from

flying unoccupied. One of the women had been flying to Portugal to

attend her son's funeral. Last year they were fined 70,000 euros for

refusing to fly three other wheelchair users in France.

Better news for one famous wheelchair user. Wolfgang Schauble

is to stay on as Germany's Finance Minister. After four years in

office, his name stands for euro stability. Although popular in

Germany, he is viewed less favourably in Greece and Portugal,

due to his tough line on bailouts for interactive eurozone countries.

A former top executive at UBS is due to appear in court to answer charges

that he helped rich Americans hide billions of dollars from the tax

man. He was finally extradited from Italy

last month following five years of legal battles. He had been the head

of the US subsidiary specialising in wealth management and denies any

wrongdoing. Hopes that a three-month blockade on Libyan oil ports was

coming to an end were dashed on Sunday.

Strikes in protest s by local tribesman have slashed or your

exports from 1 million barrels per day to only 110,000. The eastern

autonomy group is calling for a share in oil sales and an

investigation into corruption. From oil to coal.

Later today the International energy agency looks set to say that coal is

crucial for meeting future energy needs around the world. Pressure to

reduce carbon emissions due to climate change has done nothing to

stop the rise in demand for the fuel, increased investment in

renewables forces of energy, such as wind and solar, have boosted

capacity, but remain too expensive to bridge the gap between supply and

demand. At this mining Nottinghamshire, workers change

shifts at one of UK Coal's two working deep mines.

In Britain the industry is much smaller than it was in the 70s and

80s, that as a whole, coal is a growing source of where people get

their power. It is not only gaining in importance for fast moving

economies such as India and China, it is also increasingly so for

Europe and the United Kingdom as well. The International energy

agency says that between 1990 and now, coal use has powered -- has

almost doubled. Although it has slowed in the last couple of years,

it is still project did to remain the world's main source of power

even as renewables grow quickly. The thing about goal, it is still in the

energy mix. It is cheap. It is one of the key feels that is not

subsidised. If you look at China and all around the world, coal is the

essence. If you look closer to home, people operating -- people operating

under the same EU legislation are not only burning coal, they are

building new plants. Not all people are happy about the increased focus.

Greenpeace believes the technology already exists that we can go much

further in cutting carbon pollution levels. We are seeing staggering

amounts of investment going into clean energy technologies already,

the scale could be that much greater if the government started to take

steps to close down the dirty options, such as coal burning, and

give real levels of support, long-term certainty, to clean energy

investors. Increased demand for coal is likely to remain a sensitive

topic. Workers jobs and keeping electricity

prices low ruler in is on continued growth and demand in the middle.

Those worried about climate change will continue to seek ways to make

energy generation cleaner. We have got some bad news for

Qantas. What is going on? You have the flag carrier being burdened with

some major issues, apart from facing record losses and rising

competition, it partner Emirates says it has no plans in making any

new investment in the beleaguered carrier. You have the president of

Emirates are saying that he is carefully watching developments, but

ruled out throwing any financial lifeline. Qantas is also crying foul

over an unfettered playing field. The airline has complained about

virgin Australia and its major shareholders, 80 had, Singapore

airlines, and Air New Zealand, that they provide them with access to

foreign funding, therefore creating this unfair playing field. You also

have Prime Minister Tony Abbott coming to the big Jock, supporting

calls from Qantas for a level playing field. -- to the picture.

But so far it is being restricted by the so-called Qantas sale act, which

limits foreign ownership by 49%. It has to keep the majority of its

operations in Australia. Before I go, let's show you the

markets. A couple of issues on the minds of investors, not least the

Federal Reserve will start its two-day policy meeting tomorrow.

They will be at lots of speculation this week on the markets about what

they are likely to do. Japan is down despite the news about business

confidence. A survey out from HSBC showing that Chinese manufacturing

in November dropped to a three-month low. It may change. But for now it

is seen as a negative. Doctors surgeries in England were

this week learn how they can apply for funding to open 12 hours a day,

seven days a week. They have