Browse content similar to 31/07/2014. Check below for episodes and series from the same categories and more!
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Obama. `` president. Now it is time for the latest | :00:00. | :00:19. | |
business news. The deadline has come and gone, and | :00:20. | :00:24. | |
Argentina is pushed into default for the second time in the 13 years. | :00:25. | :00:34. | |
Plus, the stars of Youtube. People who have toned clips into cash. `` | :00:35. | :00:43. | |
turned. Hello, everyone. Welcome to the | :00:44. | :00:49. | |
programme. Let us take a fascinating and exciting snapshot of all the | :00:50. | :00:52. | |
latest in the world of business and money. We have also got a bit of a | :00:53. | :00:59. | |
row with India. Let us start with Argentina. It has been declared in | :01:00. | :01:03. | |
default on its debts for the second time. Two is a very intense talks | :01:04. | :01:14. | |
between Argentina and some hedge funds holding Argentine debt. The | :01:15. | :01:24. | |
deal expired 30 minutes ago. The economic minister gave it and | :01:25. | :01:35. | |
passion speech to reporters. He insists his country is not in | :01:36. | :01:41. | |
default. Let us rewind a little. The situation dates back to Argentina's | :01:42. | :01:45. | |
original financial crisis in late 2001. It was unable to pay foreign | :01:46. | :01:52. | |
debts of nearly $100 billion. Almost all creditors have since accepted | :01:53. | :01:57. | |
the restructuring deals. 75% has been written off. Except several | :01:58. | :02:05. | |
hedge funds, called vultures by Argentina, they had bought the debt | :02:06. | :02:10. | |
very cheaply when Argentina was in trouble. But they sued the US courts | :02:11. | :02:20. | |
to be paid in full. They need to be paid $1.5 billion, including | :02:21. | :02:23. | |
interest. Argentina fears that it would have to pay its debt in full | :02:24. | :02:30. | |
if they did. The competent things even further, the court has | :02:31. | :02:35. | |
prevented Argentina from paying interest to other debtholders until | :02:36. | :02:40. | |
this has been resolved. It was due until June the 30th, a grace period | :02:41. | :02:47. | |
expired yesterday. Standard and Poor has declared Argentina in selected | :02:48. | :02:58. | |
default. While both sides were still locked in last`minute talks on | :02:59. | :03:01. | |
Wednesday evening, a rally in the centre of the capital brought | :03:02. | :03:06. | |
together people angry about the vultures that Argentina accuses of | :03:07. | :03:09. | |
pushing them into default. The numbers are not big, just a few | :03:10. | :03:14. | |
hundred people. But they represent a feeling I have heard quite a lot. | :03:15. | :03:19. | |
People feel unfairly treated by the financial community. They have given | :03:20. | :03:24. | |
out posters saying, Argentina or the vultures? Later in the evening, the | :03:25. | :03:30. | |
country stuck to its guns. Argentina's economy minister did not | :03:31. | :03:36. | |
hold back. TRANSLATION: The President said it. This government | :03:37. | :03:42. | |
is not going to sign anything or consent to anything despite the | :03:43. | :03:46. | |
pressure being exerted. But it will respect the parameters of the law | :03:47. | :03:50. | |
and respect the interests of the Argentine people. It is more than 12 | :03:51. | :03:55. | |
years since Argentina last default it. It unleashed economic chaos. | :03:56. | :04:02. | |
People were killed in street protests. Her plan to purchase a | :04:03. | :04:10. | |
house was scuttled. You could not move it, the money. We had the | :04:11. | :04:18. | |
money, because of the evaluation, we could only get a car. It was | :04:19. | :04:27. | |
terrible. Really terrible. There was no solution. That was the reality | :04:28. | :04:36. | |
for many people. Will this be as bad? Experts say, no. Argentina | :04:37. | :04:42. | |
never returned to international capital markets after the last | :04:43. | :04:46. | |
default. The worldwide impact will be limited. According to this man, | :04:47. | :04:54. | |
the situation at home will not be a crisis. But it will not be easy | :04:55. | :04:59. | |
either. Over time you see the effects of lack of investment. You | :05:00. | :05:05. | |
see the effects of constrained trade with the rest of the world. | :05:06. | :05:10. | |
Financial conditions will become much tighter. That transpires into | :05:11. | :05:18. | |
an economy that is much more stagnant. Argentina has taken a | :05:19. | :05:25. | |
stand, but nobody is a winner. People face rising prices every day | :05:26. | :05:28. | |
in a country already in recession. It will be longer until the vultures | :05:29. | :05:35. | |
stop circling. We will keep across that all day for | :05:36. | :05:41. | |
you. In India, John Kerry is on an official trade visit. US trade with | :05:42. | :05:48. | |
India was worth nearly $100 billion last year. It is up about fivefold | :05:49. | :05:56. | |
since last September. They are at odds over global trade reforms. | :05:57. | :06:02. | |
Particularly over subsidies to its farmers. It is good to have you on | :06:03. | :06:06. | |
the programme. This is what it is all about? The government says they | :06:07. | :06:12. | |
will sign this global trade agreement, but only if we can | :06:13. | :06:15. | |
stockpile food and subsidise farmers. That is it. India says it | :06:16. | :06:23. | |
wants to, despite this trade deal, keep the right to be able to buy the | :06:24. | :06:27. | |
food of farmers for higher than market prices and then sell some of | :06:28. | :06:31. | |
it will market prices to its citizens. `` below. It is important | :06:32. | :06:38. | |
in a country with so much poverty. It does not want to sacrifice that | :06:39. | :06:44. | |
at the cost of signing this deal. It hopes it can have a deal that can | :06:45. | :06:53. | |
happen signed in parallel. It is interesting. Some people might be | :06:54. | :06:56. | |
going, hang on, this government is supposed to be pro` trade. There is | :06:57. | :07:05. | |
that question. Does the US, will this visit see if we can get a | :07:06. | :07:11. | |
U`turn in India? That is what the delegation is hoping to do. It is | :07:12. | :07:14. | |
their first visit since the new government came to power. The | :07:15. | :07:21. | |
relationship is a bit prickly at the moment. President Obama has talked | :07:22. | :07:25. | |
about trying to improve things. There have been so many disputes | :07:26. | :07:31. | |
going on with trade and things like intellectual property. I think it | :07:32. | :07:37. | |
will be an interesting process to watch. Most people do not expect | :07:38. | :07:43. | |
India will agree to the deal. Thank you. | :07:44. | :07:50. | |
Or this week, we have been looking at how the millennial generation, | :07:51. | :07:56. | |
those born after the 1980, how they are using new technology to earn a | :07:57. | :08:01. | |
living. Thanks to the rise of Youtube, one of the most lucrative | :08:02. | :08:05. | |
ways of earning money has turned out to be posting videos online. | :08:06. | :08:15. | |
Companies are queueing up to get their product advertised. What | :08:16. | :08:19. | |
separates the individuals from the amateurs. This is Colin. | :08:20. | :08:29. | |
He makes a living building things at home you probably should not and | :08:30. | :08:35. | |
then posting the videos on YouTube. Some of them have now been watched | :08:36. | :08:41. | |
millions of times. People like Coleen are paid by advertisers for | :08:42. | :08:48. | |
every view of their video. I used to be a plumber. In my spare time I | :08:49. | :08:53. | |
started making things. The combination of doing that and the | :08:54. | :09:01. | |
Internet growing at the same time. As I made bigger and better things, | :09:02. | :09:08. | |
the audience saw me as a mad inventor doing strange things in his | :09:09. | :09:12. | |
shed. His videos have millions of views online. Turning household | :09:13. | :09:18. | |
parts into jet engines is not to everyone's taste. But there are new | :09:19. | :09:24. | |
video blogging channels for everyone on topics from history to | :09:25. | :09:31. | |
philosophy, physics to shopping. Tania was learning to be a make`up | :09:32. | :09:35. | |
artist. Friends suggested she upload tutorials to the Internet so she | :09:36. | :09:40. | |
could practice more and other people could learn. The videos took off and | :09:41. | :09:44. | |
now she makes her living from them full`time. My videos were getting | :09:45. | :09:52. | |
quite a few views. Google got in contact and said, would you like to | :09:53. | :09:56. | |
be a Youtube partner? I have nothing to do with it, they just sort it all | :09:57. | :10:04. | |
out on their end. My view is feel like they are friends with me. It is | :10:05. | :10:08. | |
modestly catching up with them on camera. `` more just me. So if you | :10:09. | :10:15. | |
have a skill or passion you think millions of others would want to | :10:16. | :10:18. | |
watch, there are ways to make money from it. Even if it is by building | :10:19. | :10:25. | |
and filming the world's fastest mobility suit `` scooter. He makes a | :10:26. | :10:35. | |
fortune, apparently. If any of you want to get in touch, | :10:36. | :10:39. | |
get in touch with you on Twitter. See you shortly. | :10:40. | :10:52. | |
According to new research from public health England we should be | :10:53. | :10:57. | |
measuring and monitoring our waistlines. Analysis shows people | :10:58. | :11:00. | |
with bigger stomachs won a higher risk of developing | :11:01. | :11:02. |