:00:03. > :00:13.deal when the allegations emerge. Now it is time for the latest
:00:13. > :00:20.
:00:20. > :00:24.The headlines: 14 million unemployed and counting.
:00:24. > :00:30.President's Barack Obama unveils his plans to get Americans back to
:00:31. > :00:36.work. Italy approved austerity measures.
:00:36. > :00:39.How can the European Central Bank help growth in the eurozone?
:00:39. > :00:49.To 2011 has been a record year for rich people in China with the
:00:49. > :00:55.
:00:55. > :01:01.number of billionaires up 40% from Getting America working again:
:01:01. > :01:05.President spoke, is to lay out his plan to create jobs. -- President's
:01:05. > :01:10.Barack Obama. With unemployment at 9% many Americans are unhappy at
:01:10. > :01:18.the direction of the economy and will be looking for new jobs. Among
:01:18. > :01:23.the proposals are tax cuts and building programmes.
:01:23. > :01:28.You may not get it from this crowned by it's the President's
:01:28. > :01:38.popularity is at a new low, putting him under pressure to get Americans
:01:38. > :01:38.
:01:38. > :01:47.back to work. His suggestions for helping the economy may not get far.
:01:47. > :01:52.It depends on what kind of stimulus will be called for. If it is a why
:01:52. > :01:58.its spending programme it may not get through. Tax cuts have a better
:01:58. > :02:02.chance. What may the package look like? He is expected to roll out a
:02:02. > :02:10.$300 billion plan. It'll includes tax credits for companies that hire
:02:10. > :02:13.new workers as well as funding for infrastructure projects and
:02:13. > :02:18.assistance for the long-term unemployed.
:02:18. > :02:24.With 40 million Americans out of work, one training programme in
:02:24. > :02:28.Georgette is getting a lot of attention. It cuts the cost of
:02:28. > :02:34.training for businesses while allowing the workers to continue to
:02:34. > :02:40.receive unemployment cheques. This man has a job at a college because
:02:40. > :02:44.of the programme. It could soon be rolled out across the country.
:02:44. > :02:50.decided if I could go and volunteer, and see if it is a fix for me and
:02:50. > :02:54.them, then there's nothing to lose. The people at this unemployment
:02:54. > :02:58.centre are a reminder that the great secession of a few years
:02:58. > :03:08.still has not ended. Without an increase in consumer demands them
:03:08. > :03:08.
:03:08. > :03:13.may not be jobs for them. Italy has passed new austerity
:03:13. > :03:18.measures which should cut its deficit by 54 billion euros. That
:03:18. > :03:23.is $70 billion. 100 protesters tried to force their way through
:03:23. > :03:28.police barriers and into the Senate. They then marched towards the
:03:28. > :03:33.private residence of the Prime Minister, stopped only by a massive
:03:33. > :03:38.deployment of off police. Interest rates they for the
:03:38. > :03:44.European Central Bank and the Bank of England. Both are expected to
:03:44. > :03:50.leave interest rates on hold. The central bank's President is
:03:50. > :04:00.expected to say it is softening its approach on interest rates and its
:04:00. > :04:06.
:04:06. > :04:10.approach on growth. I am joined by a senior economic adviser. We are
:04:10. > :04:19.not expecting any movement on the rates but what will be listening
:04:19. > :04:24.for? We will be listening for a strong word, an interest in
:04:24. > :04:29.flagging interest rates over the next few months. We do not and
:04:29. > :04:34.expect a cut in the next few months but maybe there will be a change of
:04:34. > :04:40.view in what they will do if things turn for the worse. We were
:04:40. > :04:44.discussing the fact there would be an interest rate rise by the
:04:44. > :04:51.European Central Bank in October or November. What has changed? We have
:04:51. > :04:55.seen the turmoil in financial markets in August. The data has
:04:55. > :05:01.been on the low sign, in the eurozone and elsewhere in the world.
:05:01. > :05:07.The ECB has been forced to change its view. In 2008 they increase
:05:07. > :05:11.interest rates in July but then put them down again. They have to take
:05:11. > :05:16.account of the facts and adjust their policies accordingly.
:05:16. > :05:25.likely is a recession in the eurozone? There is a risk. It is
:05:25. > :05:31.not most likely but there is a risk. Maybe a 30% possibility. That is
:05:31. > :05:37.based on the fact that confidence has taken a turn for the worse,
:05:37. > :05:43.both in financial markets and a Monks businesses. We are seeing
:05:43. > :05:49.orders coming down a lot. We no fiscal restraint is still going on.
:05:49. > :05:53.Italy is the latest country to put a package together. You mention
:05:53. > :06:00.credibility and confidence. The lack of leadership has been a
:06:00. > :06:03.feature throughout this crisis. What can the ECB offer? It has been
:06:03. > :06:11.flexible in this crisis and has taken measures no-one would have
:06:11. > :06:16.thought about. They have been proactive. They have been treading
:06:16. > :06:21.a difficult line between putting pressure on governments so they
:06:21. > :06:25.keep going with their fiscal reduction and trying to help the
:06:25. > :06:30.economy by keeping the Monetary Policy as least as possible. We
:06:30. > :06:35.were told they would consider cutting rates below 1% should the
:06:35. > :06:41.eurozone go back into recession. Thank you.
:06:41. > :06:46.Amid the gloom of a euro crisis, there is a bit of good news. 2011
:06:47. > :06:56.has been a record year for rich people in China. The annual list of
:06:57. > :06:57.
:06:57. > :07:02.China's riches people contains 200 71 billionaires. That is up 40%.
:07:02. > :07:09.Forbes is also releasing a list as well?
:07:09. > :07:15.It just released its list three hours ago. At the top of the list
:07:15. > :07:20.is a diverse list of people. There is a fair fridge magnet and a
:07:20. > :07:24.search engine co-founder. Forbes Asia have released their survey of
:07:24. > :07:30.China's rich less. The number of billionaires on the mainland
:07:30. > :07:35.continues to rise despite the challenges in the economy and
:07:35. > :07:44.slowing markets in the US and Europe. The report reveals to
:07:44. > :07:50.Hunter 71 billionaire's, up from last year. the total wealth of the
:07:50. > :07:57.richest people on the mainland is close to 500 billion the US dollars.
:07:57. > :08:07.That is an increase of 10% from 2010. Who is the richest man? His
:08:07. > :08:18.
:08:18. > :08:22.name is a Liang Wengen. He has a net worth 10 value of $11 billion.
:08:22. > :08:32.There is also the founder of a beverage company and a search
:08:32. > :08:33.
:08:33. > :08:36.engine. The three of them have a total net of worth of $30 billion.
:08:36. > :08:42.You are always happy when he was talking about billionaires. Thank
:08:42. > :08:49.you. The number of people without a job
:08:49. > :08:54.with has risen to 5.3%. That is the highest level in one year. The
:08:54. > :08:59.mining industry is showing signs of flagging. Job cuts have been due to
:08:59. > :09:07.the strong Australian dollar, which is hurting him pause.
:09:07. > :09:14.Fashion week kicks off with 99 shows and 16 Branch New designers.
:09:15. > :09:19.Gold is popular this year. It will apparently have Asian inspired
:09:19. > :09:23.trends. A French court will issue its
:09:24. > :09:30.verdicts in a trial in which John Galliano has appeared, accused of
:09:30. > :09:38.making anti-Semitic remarks. It's led to his sacking.
:09:38. > :09:42.Now a look at the markets. The Asian markets are up this morning.
:09:42. > :09:52.We sold Champs gains on the European markets yesterday. There
:09:52. > :10:04.
:10:04. > :10:14.were bargain-hunters around. Maybe More news from the UK. The
:10:14. > :10:19.conference of the Welsh/Let's Party began today. -- Welsh nationalist
:10:19. > :10:29.party. The focus of this conference will be on finding a successor.
:10:29. > :10:30.
:10:30. > :10:34.The political tide has turned. it is now a Conservative assembly
:10:34. > :10:43.member who represents this constituency in Cardiff Bay. The
:10:43. > :10:51.party spent four Mac years in a coalition government. It pledged a
:10:52. > :10:58.referendum. The party lost ground. Its leader decided it was time to
:10:58. > :11:02.go and the focus is now one who will succeed him. The thing is not
:11:02. > :11:06.to panic or reach hasty conclusions. We need to look to the future.
:11:06. > :11:11.There are inevitable comparisons with Scotland where the SNP has
:11:11. > :11:19.gone from strength to strength. In Wales, it is at a crossroads and
:11:19. > :11:24.political commentators say cities decision time. They need to the
:11:24. > :11:29.less populous and needs to reach out and convey a message with
:11:29. > :11:37.simplicity. The members come here, having spent the months pondering
:11:38. > :11:47.what went wrong. Was it's the way their election promise was
:11:47. > :11:55.delivered? Still ahead: We will have the
:11:55. > :12:05.Breakfast News. We will be looking at the fresh interest in the works
:12:05. > :12:16.
:12:16. > :12:22.The headlines: An investigation is getting under way following a plane
:12:22. > :12:32.crash in Russia, which left 43 people dead. 27 players and nine
:12:32. > :12:34.
:12:34. > :12:39.officials from a Russian ice hockey team were killed. TRANSLATION: It
:12:39. > :12:48.is a terrible day. We have lost one of the best teams of Russian hockey,
:12:48. > :12:56.a team which millions of fans loved. Colonel Gaddafi has this mess as
:12:56. > :13:00.liars and psychological warfare the speculation he has led to Niger.
:13:00. > :13:05.The latest debates in the race to become the Republican presidential
:13:05. > :13:10.candidate has taken place in California. The front runners, Rick
:13:10. > :13:15.Perry and Mitt Romney, a challenge each other on job-creation.
:13:15. > :13:19.A verdict is due in the trial of the British fashion designer John
:13:19. > :13:29.Galliano, accused of making anti- Semitic remarks in a cafe in Paris.
:13:29. > :13:30.
:13:30. > :13:33.He lost his job when the It is time to have a look at the
:13:34. > :13:40.newspapers and the headlines from around the world. We start with the