Browse content similar to 30/09/2011. Check below for episodes and series from the same categories and more!
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their lives since March. Those are the latest headlines. We now have | :00:06. | :00:16. | |
:00:16. | :00:18. | ||
World Business Report. This is World Business Report. Progress on | :00:18. | :00:24. | |
Europe's new bail-out fund. It is the end of a turbulent water that | :00:24. | :00:34. | |
:00:34. | :00:38. | ||
has seen $9 billion wiped out. -- quarter. The European Central | :00:38. | :00:43. | |
Bank's other headache, rising inflation in the eurozone as it | :00:43. | :00:52. | |
faces growing calls to cut interest rates. | :00:52. | :00:57. | |
The political battle to shore up the eurozone continues after that | :00:57. | :01:02. | |
key vote in Germany yesterday, Estonia has become the latest | :01:02. | :01:07. | |
member to sign off on the bail-out fund. The Baltic nation's | :01:07. | :01:14. | |
parliament voted in favour on debate. Today is the turn of | :01:14. | :01:19. | |
Austria, it is expected to pass the measures, it leaves only the | :01:19. | :01:22. | |
Netherlands and Slovakia or of the 17 eurozone members to approve the | :01:22. | :01:28. | |
plan. There is a growing sense amongst investors that policy | :01:28. | :01:34. | |
makers are behind the curve. The expanded fund of 440 billion euros | :01:34. | :01:39. | |
sounded like a lot of money when it was Greece and Ireland in trouble. | :01:39. | :01:45. | |
Spain has public debt of 730 billion euros. Italy has debt of | :01:45. | :01:51. | |
1.8 trillion euros, four times larger than the fund itself. Let's | :01:51. | :01:57. | |
have a look at how the markets are reacting to this in Asia. We go to | :01:57. | :02:00. | |
Singapore. A great deal of turbulence on the markets and | :02:00. | :02:09. | |
investors have lost a lot of money. It is right. Despite the vote, Asia | :02:09. | :02:19. | |
:02:19. | :02:25. | ||
stocks did not make any big games here. -- gains. In fact, most Asia | :02:25. | :02:33. | |
markets are trading in negative territory at the moment. There are | :02:33. | :02:37. | |
concerns over Europe, the global economy over the last few months | :02:37. | :02:43. | |
has led to so much volatility on the markets. They have wiped out | :02:43. | :02:48. | |
nine trillion dollars value. It is driving investors to stay clear of | :02:48. | :02:58. | |
:02:58. | :03:02. | ||
the yen, De La -- dollar. Many in the region have taken a very | :03:02. | :03:06. | |
cautious view. The Nikkei is going to put in its worst quarter in more | :03:07. | :03:13. | |
than one year. It has lost more than 11%. That is the worst since | :03:13. | :03:17. | |
June at 2010. Australian showers are forecast to be making big | :03:17. | :03:27. | |
:03:27. | :03:28. | ||
losses. It has lost 15% this year. That is its second sharpest yearly | :03:28. | :03:33. | |
fall in two decades. All of these volatility will continue until the | :03:33. | :03:37. | |
Europeans take their bail-out plans one step further. Whether the | :03:37. | :03:40. | |
Germans will agree to a more permanent solution in addressing | :03:40. | :03:50. | |
:03:50. | :03:59. | ||
the problem. Thanks mac. -- Thank you. There are reports to boost the | :03:59. | :04:09. | |
:04:09. | :04:10. | ||
bail-out fund to two trillion euros. We now have the German vote, there | :04:10. | :04:14. | |
are other nations yet to vote, how encouraged can we be by the fact | :04:14. | :04:21. | |
that Germany has said yes? My eyes of Angela Merkel's coalition said | :04:21. | :04:29. | |
yes, but not everyone did. -- most. We are talking about a plan that | :04:29. | :04:34. | |
was hatched two months ago and was hatched for a different problem. We | :04:34. | :04:39. | |
have moved on considerably. There is a dislocation and what the | :04:39. | :04:44. | |
markets are looking for and what the policy makers are debating. -- | :04:44. | :04:52. | |
between what. Maybe something will be hatched at the G20 summit in | :04:52. | :05:00. | |
five weeks. I think Greece, we know cannot pay its debts as they stand. | :05:00. | :05:08. | |
We have to have some degree of a haircut. As a by-product of that we | :05:08. | :05:14. | |
have to have a recapitalisation of some of the banks. Markets do not | :05:14. | :05:23. | |
really believe... We need to have the capitalisation of the banks to | :05:23. | :05:31. | |
with down the right down on Greece. This is not restricted to Greece, | :05:31. | :05:37. | |
we have concerns about Italy as well. You have mentioned the size | :05:37. | :05:46. | |
of the Italian bond market. It is 120 %. It has been of that | :05:46. | :05:50. | |
magnitude for the last 10-15 years. In that context it has not changed | :05:50. | :05:58. | |
that much. But this is an economy that has not shown much growth | :05:58. | :06:04. | |
either. Structural reforms are needed. They take a great deal of | :06:04. | :06:11. | |
time to work through the system. Is it for her to say because the | :06:11. | :06:16. | |
eurozone leaders are behind the curve, the problem is costing | :06:16. | :06:26. | |
:06:26. | :06:27. | ||
investors as well? -- is it fair to say. It is very difficult for | :06:27. | :06:31. | |
politician has to step up to the plate and say we have a structural | :06:31. | :06:38. | |
problem, we need to fix it now. is a bit like the German | :06:39. | :06:43. | |
politicians yesterday, it is only when they get to the endgame and | :06:44. | :06:47. | |
feel the risks of a structural default that they take the tough | :06:47. | :06:57. | |
:06:57. | :06:57. | ||
decision. Another headache for the European Central Bank, inflation in | :06:57. | :07:02. | |
Germany hit 2.6% in September. That is the highest in three years. It | :07:02. | :07:08. | |
is expected to be a similar story across the eurozone. Rising prices | :07:08. | :07:15. | |
present a growing dilemma for the European Central Bank. This is a | :07:15. | :07:19. | |
difficult time for policy makers in Frankfurt. Under normal | :07:19. | :07:23. | |
circumstances the European Central Bank has one overriding goal, to | :07:23. | :07:28. | |
keep inflation under control. Consumer prices have been rising | :07:28. | :07:33. | |
faster than the Central Bank would like. It is a particular problem in | :07:33. | :07:39. | |
Germany. Circumstances in the eurozone are far from normal. | :07:39. | :07:44. | |
Greece is expected to default on its debt despite harsh cuts and | :07:44. | :07:50. | |
public spending. -- cuts in public spending. Larger European economies | :07:50. | :07:56. | |
like Spain and Italy are struggling with high debts and low growth. The | :07:56. | :08:04. | |
ECB is under pressure to boost growth. The eurozone is slowing | :08:04. | :08:07. | |
market Glee and there is concern about funding availability for | :08:07. | :08:17. | |
:08:17. | :08:18. | ||
banks. -- markedly. They are less worried about inflation in the | :08:18. | :08:23. | |
medium term, they think that Lord growth now and a weakened outlook | :08:23. | :08:33. | |
will lead to inflation falling down later. -- lower growth. It has made | :08:33. | :08:36. | |
cash available to banks to stabilise it turbulent financial | :08:36. | :08:40. | |
markets. That makes it harder for the | :08:40. | :08:50. | |
:08:50. | :08:50. | ||
financial power-brokers of Frankfurt to cut interest rates. | :08:51. | :08:58. | |
Time for one more item of news. Hewlett-Packard has announced that | :08:58. | :09:06. | |
its ousted boss will get a pay-out of $10 million. He saw $14 billion | :09:06. | :09:13. | |
wiped off its market value. He is being replaced by the former eBay | :09:13. | :09:18. | |
boss, Meg Whitman. She would get a salary of $1 a year with the | :09:18. | :09:24. | |
ability to earn millions in share options and performance bonuses. | :09:24. | :09:31. | |
Let's take a look at the market. The Nikkei has a bit of a mixed | :09:31. | :09:36. | |
response. There are some votes outstanding for the European | :09:36. | :09:46. | |
:09:46. | :09:49. | ||
stability fund. There is a cap on optimism. That's it from me and | :09:49. | :09:59. | |
:09:59. | :10:04. | ||
World Business Report. More news from the UK. The European | :10:04. | :10:09. | |
Commission is threatening legal action against Britain in a dispute | :10:09. | :10:13. | |
about a residency test about which EU nationals are eligible for | :10:13. | :10:20. | |
benefits. They discriminate unfairly against foreigners. 140 | :10:20. | :10:26. | |
members of the armed forces have been honoured for bravery. 16 | :10:26. | :10:31. | |
Military crosses banned by those serving in Afghanistan last winter. | :10:32. | :10:41. | |
:10:42. | :10:43. | ||
-- earned. His action is where a display of decisive courage. When a | :10:43. | :10:53. | |
:10:53. | :10:55. | ||
grenade landed three fee it away, - - three feet away. It was just a | :10:55. | :11:05. | |
:11:05. | :11:12. | ||
reaction. He would have done the same for me. The majority of those | :11:12. | :11:16. | |
honoured faced a hard three months of fighting. Building relations | :11:16. | :11:21. | |
with the Afghan population was a crucial part of the operation. She | :11:21. | :11:25. | |
did more than Glenn gardener, he raced his life to bring a badly | :11:25. | :11:33. | |
injured Afghan soldier to safely. If he did not show the | :11:33. | :11:41. | |
willingness... 140 military personnel have received awards. | :11:41. | :11:49. | |
Each story a reminder of the dangers they face every working day. | :11:49. | :11:59. | |
:11:59. | :12:00. | ||
Coming up at 6am, we have Breakfast. They have a special report on a | :12:00. | :12:03. | |
warning about conspiracy theories and propaganda are entering the | :12:03. | :12:13. | |
:12:13. | :12:13. | ||
classrooms. This is BBC News. The headlines: | :12:13. | :12:16. | |
George Papandreou is set to continue his bid to convince Europe | :12:16. | :12:22. | |
that his country can meet the terms of the austerity programme. He will | :12:22. | :12:26. | |
meet the President of the European Council and then will go on to | :12:26. | :12:30. | |
Paris to top with President Nicolas Sarkozy. Michael Jackson's former | :12:30. | :12:33. | |
bodyguard has told a court in California that Conrad Murray asked | :12:33. | :12:39. | |
him to gather up medicine before calling the emergency services. | :12:39. | :12:42. | |
More than 1,000 Royal Navy personnel will be told they have | :12:42. | :12:47. | |
been made redundant today as part of the UK's Strategic and Defence | :12:47. | :12:52. | |
Review. 50 people are reported to have been killed in anti-government | :12:52. | :12:56. | |
protests in Syria in the last two days. Hillary Clinton has condemned | :12:56. | :13:01. | |
an attack on the ambassador to Syria after he was pelted with | :13:01. | :13:07. | |
stones and tomatoes. This inexcusable assaults his par of an | :13:07. | :13:17. | |
:13:17. | :13:18. | ||
ongoing campaign of intimidation. - inexcusable assault is part. We | :13:18. | :13:23. | |
are raising questions about what is going on inside Syria. It reflects | :13:23. | :13:28. | |
an entire loans on part of the regime and its supporters. -- and | :13:28. | :13:36. | |
intolerance. It is deeply Let's have a look at a headlines | :13:36. | :13:40. | |
from around the world. The story that most of the International | :13:40. | :13:43. |