12/08/2011 World Business Report

were killed. Time now for the latest money news

with World Business Report. Welcome to build -- World Business

Report. The headlines: France, Italy, Spain and Belgium or ask --

banning the short-selling of some stocks in an effort to calm the

markets. We will get a better idea of how

the Greek economy is doing as the third set of growth figures are

released. Japan cut its growth forecast for

the year to reflect the natural disasters in March.

Regulators have imposed a ban on the short-selling of selected

financial stocks in France, Italy, Belgium and Spain. The move is

designed to stop investors betting on share falls -- Falls and follows

days of swings to stop crisis. Shares fell by over 20% and one

point on Thursday. Greece and Turkey have already imposed

restrictions. We are joined by a senior market analyst. Firstly,

what is short-selling? The ability to profit from a stock not anyone

it is going up but when it is going down. Two short sell comedy what

the price to go down. Why is it so dangerous? Because we are getting

so much panic in the markets, you tend to get a rational trading

decisions. This can be quite dangerous because if you get these

irrational moods, we have seen it things plummet so heavily because

of short selling. The question is whether this 15 days will be long

enough. But it is a free market, people have a right to hedge and

speculate. But because of the damage it can cause and how

rational the markets get when there is panic, we have seen it does not

take hardly anything at all. They just need to be a little rumour and

we get huge swings all over the place. There are real ramifications

for Leigh's share prices. Why not just ban it permanently? Wire and

the ban it for 15 days at a time? This is a bit of a PR exercise also.

It puts beer into the market are saying, you can't do this. Whether

it is 15 days or longer does not really matter. It is more the stage

and steps of doing it than the fundamental issue of doing it

totally. Thank you for joining us. The Greek economy is continuing to

shrink. That is what the financial world is expecting will be

confirmed later when Athens announces its first set of

quarterly gross -- growth figures since the latest eurozone and IMF

bail-out. The credit crunch, spending cuts and rights in the

street have sent the economy into a nosedive.

More visitors this summer. One of the few bits of good news for

Greece. The tourist business is keeping one in five Greeks in work.

In a country where many feel threatened by reforms that have hit

their income. Many Greeks have to be convinced that the government

programs will boost business later on. Are they trying to improve the

tax efficiency, tax corruption, reduce the fiscal deficit, they are

trying to increase privatisation and introduce more deficiency in

the way the government is being run. A lot of these factors take a lot

of time to come through. Clearly Mr Papandreou is having a difficult

time in implementing this. This is the best opportunity we have had.

The recession in Greece is fuelling joblessness. Unemployment is rising

at the fastest rate ever recorded. That is as shops and businesses

closed. Crease has started making it easier to employ young people.

All of that is in spite of the improvement in tourism. It is

nearly impossible for Greece to improve its economy while trying to

keep on top of its debt mountain. The hope is that assistance

programs may help it to find new ways to grow.

Japan has just adjusted its growth forecast for the year. More on that

now. What are the figures telling us? The figures are not telling us

anything she usually knew. It is in line with what the Bank of Japan

said last month. They have adjusted their growth forecast. They are

forecasting a growth of 0.5% in this fiscal year. That is lower

than the original forecast of 1.5% growth. That was all done to

reflect the slump in factory output as a result of the natural

disasters in March. Essentially, BSc in the recovery from that been

complicated by uncertain global economic output. Rising strength of

the yen. The finance minister came out to issue a warning about the

strength of the yen at a week after Japan intervened in the market to

try and bring down the value of the yen. Japan is basically saying they

are expecting growth next year of between 2.7 to 2.9%. That is to

reflect the kind of spending they are putting into the reconstruction

following the earthquake in March. Thank you. Despite all the worries

about the US economy, the latest retail sales report from the

Commerce Department is expected to show that some shoppers are still

busy spending. Economists are forecasting a 0.5% increase in July

from June. Living the high-life. The

wealthiest Americans hold all the profits and luxury retailers even

as the wider economy struggles. This was before the week's wild

stock market swings. The big concerned is how has the high end -

- how are they feeling? It feels like things will slow down pivotal.

Every New Yorker knows that when it comes to bargain-hunting, this is

the place to go. Even as shoppers browse through the racks of

designer clothing, worries about the economy are never far away.

dampens the mood a little bit. While still in high spirits, this

group of friends have changed their shopping habits. My tolerance for

different articles of clothing, we will be in the dressing room and I

think, I really like that but not for $50. We're trying to pinch

those pennies. She says probably hundreds of dollars more a month.

have probably saved a thousand or more last year. It is this cautious

attitude among shoppers that is giving retailers pause. The last

two months of the year is when they make them money. The last six

months have been good but the really important a time is coming

up between back to school and the holiday. Consumer spending helps

drive growth. American shoppers -- if American shoppers are spending

more, that is good news. The fear is that amid all this economic

uncertainty, it may not last. Other business stories making

headlines: France brings out its latest GDP data. In one hour's time,

it is expected to show marked slowdown. It has not produced a

balanced budget since 1974. Like others in the eurozone, it is

struggling with low growth. A state owned Chinese train manufacturer

says it is recalling 54 bullet trains being used on the a new

high-speed rail link -- link between Beijing and Shanghai. The

statement comes a day after Beijing said it was suspending approval of

new railway projects. It underlines the concern over the safety of

high-speed rail after that fatal crash last month.

The Nikkei is down slightly after being up earlier on. As far as the

rest of the market in terms of the Dow and Nasdaq, those are closing

on a high. That's all from me. In the UK, the average student debt

could rise to more than �50,000 when higher tuition fees are

introduced in England. That is according to an annual survey.

A university education can be a passport to a well-paid, satisfying

job. But it comes at a price. Almost 3,000 students across the UK

were questioned about their finances. Undergraduates who

entered university in 2010 and expected to leave with an average

debt of �24,100. Projected figures show this year's intake could face

debts of �26,100. Those entering in 2012, when feasible triple, could

leave students with an average debt of over �50,000. This university

admissions team will practise what they will do when A-levels are

published next week. They're expecting a big influx of calls.

This university has around 100 places available. That is one-

quarter of what they had last year. That is due to the sheer number of

students desperate two to go to university this autumn so they can

avoid higher tuition fees and greater debt from 2012. The

government says no-one should be put on -- of university because of

the cost. It points out the majority of students will not pay

�9,000 paid year and will not pay up front. They will be Labour's and

reimbursements available. Coming up, Breakfast. All the day's

news and sport and they will look back to a year ago when 33 Chilean

-- Chilean miners became trapped Our top stories: A man who was

beaten after trying to snuff out a fire in riots on Monday night has

died. He was 68. He was attacked in Ealing.

Asian stocks have risen following gains of the US and Europe. France,

Italy, Spain and Belgium have banned short-selling on the shares

of banks and other financial companies after sharp gains and

losses in bank stocks in recent days.

Syrian troops reportedly kill another 12 civilians. Hillary

Clinton urges others, China, India and Europe to get tough on Damascus

and impose sanctions. A company in China has recalled a

54 ball at trains for safety checks. The move comes after a collision

last month between two high-speed trains in a least -- in which at

We start with the riots with such a have a shock to the entire British

establishment. We profile a university graduate to who stole a

plasma television and then handed herself into police, feeling

terrible. The upcoming French elections, nine