:00:19. > :00:26.the US. Now it is time for World Business Report. Apple's visionary
:00:26. > :00:32.founder steps down but the shares fall as investors contemplate life
:00:32. > :00:39.after Steve Jobs. Libya asks for $5 billion in emergency aid for
:00:39. > :00:49.reconstruction. France's President goes to China
:00:49. > :00:50.
:00:50. > :00:59.with the EU resent debt crisis likely to top the agenda. euros and
:00:59. > :01:09.-- euros and debt crisis. Steve Jobs has resigned as head of
:01:09. > :01:10.
:01:10. > :01:15.Apple and will be replaced by a CEO Tim Cook. Steve Jobs wrote: I have
:01:15. > :01:20.always said that if there came a day when I could no longer meet my
:01:20. > :01:30.duties as Apple's chief executive I would be the first to lay tuna.
:01:30. > :01:31.
:01:31. > :01:39.Apple shares fell by 5% in after row was training. -- after-hours
:01:39. > :01:43.trading. Some people were taken aback, but it is not that much of a
:01:43. > :01:52.surprise given that he has been battling serious bouts of cancer
:01:52. > :01:59.for seven years. He has been on medically since January. He founded
:01:59. > :02:02.the company at the age of 21 and it was hoped he would continue a
:02:02. > :02:12.visionary career creating new devices that have revolutionised
:02:12. > :02:12.
:02:12. > :02:17.people's lives. He will become the chairman of Apple now, but we did
:02:17. > :02:26.not know exactly what that will look like. Will there be major
:02:26. > :02:33.changes now? Shareholders to see it that it will mean long-term changes
:02:33. > :02:43.and mean that Apple will no longer be dominant. It is the second most
:02:43. > :02:45.
:02:45. > :02:51.valuable company in the world after Exxon Mobil. That it's mainly
:02:51. > :02:55.because of all the creative people who work at Apple. The new chief
:02:55. > :03:00.executive will be Tim Cook, the man who has been in charge at Steve
:03:00. > :03:05.Jobs has stepped back from the front line. The problem with that
:03:05. > :03:12.is that of a many people consider him extremely competent, people
:03:12. > :03:18.worry that he will not be as visionary as Steve Jobs. Even the
:03:18. > :03:28.Steve Jobs was quite emphatic in his letter of resignation that Tim
:03:28. > :03:28.
:03:28. > :03:32.Cook was the best person to follow him. Yes, and he has the backing of
:03:32. > :03:42.the board and executives who have clearly been thinking about the
:03:42. > :03:45.
:03:45. > :03:55.succession. Some people think the board did not give shareholders
:03:55. > :04:05.
:04:05. > :04:10.enough information. Apple has not had a chairman for many years.
:04:10. > :04:16.People are looking at the last sight of Steve Jobs' legacy and the
:04:16. > :04:25.revolution he has brought to people's lives. And the new
:04:25. > :04:31.products in development. Libyan rebels urgent the need the release
:04:31. > :04:41.of 5 billion US dollars in frozen assets to pay state salaries and
:04:41. > :04:43.
:04:43. > :04:49.maintain vital services and medical care. We look at what assets Libya
:04:49. > :04:53.has and what it will need as we construction gets underway. This is
:04:53. > :04:58.the office of the Libyan Investment Authority in London which was
:04:58. > :05:05.closed down when the government froze the assets of the Gaddafi
:05:05. > :05:11.regime. It has now been taken over by opposition forces. It has $65
:05:11. > :05:17.billion of assets worldwide waiting to be released but the legality of
:05:17. > :05:22.Aung freezing those assets is complicated. There needs to be a
:05:22. > :05:32.legitimate leadership that is recognised by everyone. I think the
:05:32. > :05:35.
:05:36. > :05:38.Coalition will be slow in aren't freezing these. Libya is thought to
:05:38. > :05:45.have $150 billion of sovereign assets abroad but while they remain
:05:45. > :05:55.frozen it needs learns. E! Needs $10 million to repair the damage
:05:55. > :06:01.
:06:01. > :06:06.done in the civil war. There are shortages of fuel. For basic goods
:06:06. > :06:12.and services we really need fuel to be entering the country to
:06:12. > :06:19.distribute them. To repair its infrastructure Libya will need the
:06:19. > :06:22.help of foreign engineering Byrnes. But they will not of their services
:06:22. > :06:27.until there are sure there is a stable government with which they
:06:27. > :06:33.can do business. Nicolas Sarkozy is due to meet the
:06:33. > :06:38.Chinese leader in Beijing today. He is expected to reassure him on the
:06:38. > :06:48.state of Europe's debt crisis, recently described as like the
:06:48. > :06:50.
:06:50. > :07:00.Black Death by the Chinese media. We speak to our Singapore offers. -
:07:00. > :07:08.
:07:08. > :07:16.- office. These will then - and the sovereign debt crisis is indeed a
:07:16. > :07:20.problem. President Sarkozy was gained only five hours in Beijing.
:07:20. > :07:30.World financial markets have been impacted by signs of faltering
:07:30. > :07:33.
:07:33. > :07:40.growth in the US and Europe. Analysts estimate that 25% of
:07:40. > :07:50.China's reserves are killed in euro assets. Relations between the two
:07:50. > :07:53.
:07:53. > :08:01.Man Group parties are also intertwined. -- two parties.
:08:01. > :08:07.Chinese exports to EU reached $400 billion. Apart from the business
:08:08. > :08:14.issues they will also discuss France's G20 agenda before the IMF
:08:14. > :08:24.and World Bank gatherings in Washington in September. They will
:08:24. > :08:31.
:08:31. > :08:41.also be a summit of G7 leaders in France. Soon we will give an update
:08:41. > :08:43.
:08:43. > :08:50.on how Glencore is doing with its quarterly results. When he floated
:08:50. > :08:57.on the stock market in May it was London's biggest ever listing.
:08:57. > :09:05.Since then the share price has fallen by a 30%. The price of gold
:09:05. > :09:14.dropped by 5% on Wednesday. It is the biggest percentage drop in over
:09:14. > :09:20.two McRae used. Analysts put the fall down to profit taking. Gold is
:09:20. > :09:30.perceived as a safe investment in times of uncertainty. Its price
:09:30. > :09:38.
:09:38. > :09:48.rose Bismarck during eight for Mark was. -- during a tumultuous period.
:09:48. > :09:58.Sales were boosted by a jump in spending in Christchurch. A poet
:09:58. > :10:05.
:10:05. > :10:09.look at the markets in the Far East. Looking pretty positive. There has
:10:09. > :10:14.been an increase in the number of mothers and children going to
:10:14. > :10:24.swimming classes but still one in five adults cannot swing. What is
:10:24. > :10:26.
:10:26. > :10:32.the best age to learn to swing blitz -- to learn to swim a? Our
:10:32. > :10:41.correspondent reports. Ring recent figures showed that nearly 20% of
:10:41. > :10:47.adults cannot swim. Many of us learn to swim later in life.
:10:47. > :10:56.Experts say that the best London is when we are babies and children. In
:10:56. > :11:01.the last year 300,000 children took classes. The numbers signing up to
:11:01. > :11:07.parent and baby classes has increased as more people want their
:11:07. > :11:17.children to learn and 10mph. mother was nervous about being in
:11:17. > :11:19.
:11:19. > :11:22.the water. I want him to be able to swim. My children learn to swing
:11:22. > :11:32.when they were three months old and they have never been afraid of the
:11:32. > :11:35.
:11:35. > :11:45.water. It was not like that in my day. If you do not learn to swing
:11:45. > :11:49.
:11:49. > :11:59.when you are young it then built into a big Fiat. -- a geek mac our
:11:59. > :12:15.
:12:15. > :12:19.something you are frightened of. BBC News. Rebels in Libya have
:12:19. > :12:25.opposite Colonel Gaddafi safe passage out of the country if he
:12:25. > :12:30.renounces his leadership, but they have also offered a reward of $2
:12:30. > :12:40.million for his capture or killing. Rebels are moving on his main town
:12:40. > :12:50.of Sirte. South Africa is stalling the extent to have $1.5 billion of
:12:50. > :12:50.
:12:50. > :12:53.US assets released to the rebel leadership. Now it is any the South
:12:53. > :12:59.Africans blocking the cking the se some of the money would be given to
:12:59. > :13:03.the rebel leaders. The South African ambassador said his country
:13:03. > :13:06.is concerned that Egypt gives Barnes To the National Transitional
:13:06. > :13:16.Council that might imply recognising it as a legitimate
:13:16. > :13:16.
:13:16. > :13:23.Libyan government and South Africa has not done that yet. Nicolas
:13:23. > :13:30.Sarkozy will hold talk hold talk Chinese counterpart today.
:13:30. > :13:37.Hurricane Irene has acted the Bahamas, causing property damage