22/04/2016 World Business Report

Those are the latest headlines from BBC News.

Now for the latest financial news with Aaron Heslehurst and

It's the US charm offensive as President Obama hits Europe,

and high on the agenda is that big free trade agreement.

But here's his problem, at home many feel these agreements

are ripping off America and losing American jobs.

And just when you thought it was safe to go back in the water,

Negotiations start once again and once again it's all about that

One of the top items during President Obama's European tour is

a free trade agreement between the US and Europe called the TTIP.

And, by the way, the President is also keen for Congress to pass

a similar deal with Asia, called the TPP, before he leaves office.

But free trade isn't popular ahead of the presidential elections.

In the last year it has massively lost support among Americans.

In fact many have been saying their country is being ripped off in

Support for a trade deal has also fallen in Europe.

A recent survey showed that only 17% of Germans support the TTIP,

And in the UK, hundreds of thousands of people have

signed a petition to stop president Obama from agreeing on the deal.

If there is one thing these presidential candidates may come

close to agreeing, it is free trade. Our country is getting ripped

off and trade. Disastrous trade agreements written by corporate

America. We have lost American jobs. So what do voters want? Trade

agreements that are fair and allow manufacturing jobs to return to

America. We are against the DPP and other trade treaties because they

move jobs from here to a broad. But is it right that politicians and

voters are blaming trade agreement for the loss of American jobs? They

are trying to find something to blame the ills of the country upon

and they have fastened upon trade. Support for the trade deal is also

falling in Europe. A survey showed that only 17% of Germans support the

TTI PE, down from 55% just two years ago and in the UK, nearly 150,000

people have signed a petition to stop President Obama from agreeing

on the deal. The 13th round of negotiations will be held here in

New York next week but even if an agreement is reached before

President Obama leaves office, there is now doubt whether his successor

will pursue the deal and the same uncertainty applies to another trade

deal with Asia, the transpacific partnership.

It's been at least several weeks since we last

Well guess what today eurozone finance ministers meet in Amsterdam

and Greece's massive public debt, all $360 billion of it,

After months of wrangling, some signs of agreement are

emerging between Athens and its international lenders.

And that I tell you is vital before Athens can get

Dr James Nixon, Chief European Economist, Oxford Economics.

Can you catch all of us up? Where are we at The Miz we are in the

third -- where are we at? We are in the third bailout with Greece?

That's right. We have dealt with the arrears to the IMF and the ECB and

now we are coming to the first sticking point which is the bailout

review. It is the first time that all the lenders are getting back

into the country, getting their hands on the books and coming up

with the assessment of how much more Greece needs to do to hit its

targets. At the moment I am reading that the sticking points with this

one are that Greece's lenders come at the European Union, the ECB and

the IMF wants Greece to reduce the tax threshold as well as VAT, they

want that to go up? There are a variety of measures. The IMF have

been arguing that in order to get to the three and a half % primary

surplus, they need to have more on top of what they have done in the

last year's budget. Tighten fiscal policy by 4%? The bottom line is

that is a huge number for an economy that has already collapsed by a

quarter. Arguably come out what the Greeks are saying is that mean

severely cutting things like pension payments and raising taxes again on

people and companies. It means doing things like raising VAT and cutting

back personal allowances and all of those things will detract from the

economy and bring down GDP and it becomes a self of selling cycle.

Isn't part of the problem also that we have the lenders going at each

other? The IMF has said the money that Greece already knows will never

be paid back, they will not be able to, it is unrealistic. The European

Union and the ECB disagree. Absolutely. The IMF have essentially

said the kind of tightening that is needed to undertake in order to

achieve these targets is completely unrealistic but the European Union

can't really contemplate a debt write-off because they are still

lending money to grease. You can't simultaneously lend money and then

write it off because then it is just a gift -- Greece. Some people will

say that that is what is happening even though Europe is not saying

it. All that money being poured and is not coming back. That is what

they're arguing about. The ideas to get Greece to sufficiently large

surpluses for perpetuity in order to pay that money back, probably over

the next 50-100 years. The problem for the Greeks is that we are

creating a European Union where essentially the poor countries will

be paying back money to the rich countries for the next 100 years.

Are you optimistic a deal can be done? No. OK, great. Thank you.

Shares of embattled Japanese car maker Mitsubishi Motors continue

their massive decline, after the company admitted it had

overstated the fuel efficiency of 625,000 cars sold in Japan.

And now US auto safety regulators are getting in on the act.

Over now to our resident petrolhead, Rico Hizon in Singapore.

So, Rico, how much are the shares down now?

Stocks in Mitsubishi motors finally were traded today and the freefall

continues. A short while ago they were down around 13% to 506 yen per

share but that is an improvement from Thursday when the Tokyo Stock

exchange wasn't able to match orders of sellers and buyers, so as you

mentioned, no deals were executed and the price was forced down 20% to

583 yen. Sent Wednesday, when the news of the fuel teaching first

broke, the stock has plunged more than 40% and panic selling has wiped

more than two and a half billion dollars off the manufacturer's

market value in two days after getting to falsifying test data to

make its emissions look more favourable. This has raised

questions about the future of Mitsubishi as it faces the prospect

of huge losses and finds. Analysts say the compensation bill may run

into the hundreds of millions of dollars but the reputational damage

to Mitsubishi will be far bigger. Thank you.

In other news: Earnings at Google's parent company Alphabet have

disappointed the markets, despite a 20% increase in profits in

Revenues at the world's second largest company

rose to over $20 billion, but that didn't stop its shares tumbling more

Google isn't the only one to disappoint.

Shares in Starbucks falling more than 5% after it also missed revenue

The coffee chain's earnings came in slightly under what analysts

Demand in the US, as well as solid sales in Asia helped to

offset slow growth in Europe, but still missed market expectations.

PSA Peugeot Citroen offices have been raided

by anti-fraud investigators as part of ongoing investigations

The firm said its vehicles are emissions compliant.

Authorities and car manufacturers have been on the alert in the wake

of the Volkswagen emissions scandal, which emerged in late September.

Don't forget you can get in touch with me and some of

There are thought to be more than 200,000 miscarriages

But despite the number, and the devastating effect they can