:00:05. > :00:15.shot and injured. Those are the latest headlines. Now
:00:15. > :00:28.
:00:28. > :00:32.Standard and Poor's downgrade Spain's credit rating.
:00:32. > :00:38.The latest blow comes as finance ministers and central bankers
:00:38. > :00:48.gather in Paris for a meeting set to be dominated by the crisis. He
:00:48. > :00:52.
:00:52. > :00:58.inflation concerns in Asia as China and India unveil crucial numbers.
:00:58. > :01:02.It's fears that the eurozone crisis could soon spread further have been
:01:02. > :01:07.reawakened in the last few rows. Standard and Poor's has issued a
:01:07. > :01:15.downgrade of Spain's credit rating. It comes after a similar downgrade
:01:15. > :01:23.by featured last week. Standard and Poor's cut Spain's rating by one
:01:23. > :01:31.notch. It cited heightened risks to the country's growth prospects. It
:01:31. > :01:34.also highlighted unemployment, and high level of debt. This latest
:01:34. > :01:38.blow comes as finance ministers from the world's top economies
:01:38. > :01:48.prepared to meet in Paris tonight and Saturday. The crisis will
:01:48. > :01:49.
:01:49. > :01:59.dominate the agenda. Three summits to save the euro, and this is the
:01:59. > :02:00.
:02:00. > :02:06.first of them, the financial world might not forgive them if they
:02:07. > :02:11.failed to three fence week members. Ministers from Brazil to China and
:02:11. > :02:16.Japan are expected to warn Europe that it is not doing enough to
:02:16. > :02:20.contain its sovereign debt crisis. As a result, it is exporting, not
:02:20. > :02:26.only currency instability, but also global recession. Europe will say
:02:26. > :02:31.it is working on a comprehensive rescue package to be launched on
:02:31. > :02:38.the 23rd of this month. Well in time to be judged by the full G20
:02:38. > :02:42.at its summit early next month. have to support the euro because it
:02:42. > :02:48.is in your own interests. A collapse of the euro would have
:02:48. > :02:52.dramatic consequences. When the crisis becomes systemic, you are a
:02:53. > :02:57.part of it. As long as it is considered as a Greek crisis, it
:02:57. > :03:01.can behave as if it is not your problem. One organisation very keen
:03:01. > :03:10.to get its ideas over to the G20 is the International Chamber of
:03:11. > :03:14.Commerce. What is your message for the G20 here? The message is that
:03:14. > :03:20.their existence is to foster international economic couple --
:03:20. > :03:24.Corporation. There is the risk of the relative drying up of trade
:03:24. > :03:30.finance provided by banks. That is essential to the proper functioning
:03:30. > :03:35.of international trade. That is why it is important for the G20 to
:03:35. > :03:39.tackle these stalemate and to put a stop to protectionist measures.
:03:39. > :03:44.final deal to help the eurozone back on its feet may be a mixture
:03:44. > :03:51.of a still larger bail out and the funds for individual banks in each
:03:51. > :03:54.country. Ministers have just ten days to deliver it.
:03:54. > :04:00.As well as Spain global markets will also be watching Italy closely
:04:00. > :04:04.this Friday, where it is a day of political brinkmanship for Silvio
:04:04. > :04:08.Berlusconi. He called a confidence vote to fend off claims his
:04:08. > :04:12.majority is crumbling after it lost a key budget vote on Tuesday. He
:04:12. > :04:19.says his government is aware of the risks the country faces and the
:04:19. > :04:24.time constraints dictated by the markets. We are joined by a
:04:24. > :04:30.professor from the European School of Economics. What are the chances
:04:30. > :04:40.of the vote being lost? Its if you ask the opposition, they are very
:04:40. > :04:47.
:04:47. > :04:51.slim. The majority seems to be confident and stop --. Silvio
:04:51. > :04:55.Berlusconi it is the most confident under these conditions. We will see
:04:55. > :05:00.what happens but they seem to be able to think they will pull it off.
:05:00. > :05:08.Silvio Berlusconi has warned that there will be financial turmoil it
:05:08. > :05:13.he does not win. Italian politicians cannot pretend that the
:05:14. > :05:20.financial markets do not scrutinised their actions as they
:05:20. > :05:25.did in the past. There may be some consequences. If the vote fails,
:05:25. > :05:32.the chances for survival of the government are severely put in
:05:32. > :05:42.question. Silvio Berlusconi will try his best. The consequences are
:05:42. > :05:43.
:05:43. > :05:48.not good. Making the right decisions to make it is like making
:05:48. > :05:55.the wrong decisions. The country has got itself into a large
:05:55. > :06:01.economic hole, largely because of the amount of debt it has. Long-
:06:01. > :06:04.term, is Silvio Berlusconi a good thing? I think there is an
:06:04. > :06:14.awareness that there are an number of problems that need to be
:06:14. > :06:16.
:06:16. > :06:20.resolved. It's there is a debate that has been going on recently.
:06:20. > :06:25.It's now is the time that decisions need to be made and Silvio
:06:25. > :06:29.Berlusconi knows that. There is a lot of pressure on him. Hopefully
:06:29. > :06:37.he will be able to put us through some of the harsh political
:06:37. > :06:43.decisions. Inflation concerns are in focus
:06:43. > :06:48.this Friday for two of Asia's economic giants, China and India.
:06:48. > :06:55.We are joined by our correspondent from Singapore. This is not what we
:06:55. > :07:01.need to hear. No. Not at all. China revealed its numbers a little
:07:01. > :07:07.earlier. It slowed marginally in September to 6.1%. That is down 0.1
:07:07. > :07:14.of 8% from the previous month. It is a lot low of the three-year high
:07:14. > :07:19.of 6.5% in July. It is the six- month that it has been over 6%. It
:07:19. > :07:22.is raising concerns amongst the Chinese authorities. They are
:07:22. > :07:26.worried that persistent be high prices that things like food and
:07:27. > :07:32.property might cause social unrest. They have already tried to bring a
:07:32. > :07:39.host of measures to try to address it. They have increased bank
:07:39. > :07:45.reserve ratios. They have also hiked interest rates five times
:07:45. > :07:50.since October last year. India is the other country. It is also
:07:50. > :07:56.suffering from very high inflation as well. That is due out a bit
:07:56. > :08:03.later. Food and fuel prices are the peak cruncher there. Food prices
:08:03. > :08:13.are a very sensitive issue. They have also tried to act there. But
:08:13. > :08:14.
:08:15. > :08:20.they have not helped. It's the business community says that growth
:08:20. > :08:25.has been stifled by these tightened policy measures. Analysts say that
:08:25. > :08:32.a lot more needs to be done in terms of improving infrastructure.
:08:32. > :08:39.All of these high inflation comes against a backdrop of the slowing
:08:39. > :08:44.we are seeing in the US and Europe. It is time for a look at some of
:08:44. > :08:54.the other stories. A US judge has said that Samsung's Alexei tablet
:08:54. > :08:54.
:08:54. > :09:00.in computers has a patent on the iPad. Apple is trying to have rival
:09:00. > :09:04.Samsung products bend in the US. It argues that its galaxy phones copy
:09:04. > :09:09.the iPhone. The two companies are engaged in a battle that includes
:09:09. > :09:12.more than 20 cases in 10 countries. Australian fans have been the first
:09:12. > :09:16.to buy the new generation of the iPhone as it goes on sale around
:09:16. > :09:20.the world this Friday. Critics have complained the new version of the
:09:20. > :09:27.phone is not revolutionary enough to warrant an upgrade. Apple claims
:09:27. > :09:37.to have taken more than one million warders in the first 24 hours. It's
:09:37. > :09:41.
:09:41. > :09:43.-- orders. We have had not a bad week for the
:09:43. > :09:49.markets if you take into consideration what has been