Browse content similar to 14/10/2011. Check below for episodes and series from the same categories and more!
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shot and injured. Those are the latest headlines. Now | :00:05. | :00:15. | |
:00:15. | :00:28. | ||
Standard and Poor's downgrade Spain's credit rating. | :00:28. | :00:32. | |
The latest blow comes as finance ministers and central bankers | :00:32. | :00:38. | |
gather in Paris for a meeting set to be dominated by the crisis. He | :00:38. | :00:48. | |
:00:48. | :00:52. | ||
inflation concerns in Asia as China and India unveil crucial numbers. | :00:52. | :00:58. | |
It's fears that the eurozone crisis could soon spread further have been | :00:58. | :01:02. | |
reawakened in the last few rows. Standard and Poor's has issued a | :01:02. | :01:07. | |
downgrade of Spain's credit rating. It comes after a similar downgrade | :01:07. | :01:15. | |
by featured last week. Standard and Poor's cut Spain's rating by one | :01:15. | :01:23. | |
notch. It cited heightened risks to the country's growth prospects. It | :01:23. | :01:31. | |
also highlighted unemployment, and high level of debt. This latest | :01:31. | :01:34. | |
blow comes as finance ministers from the world's top economies | :01:34. | :01:38. | |
prepared to meet in Paris tonight and Saturday. The crisis will | :01:38. | :01:48. | |
:01:48. | :01:49. | ||
dominate the agenda. Three summits to save the euro, and this is the | :01:49. | :01:59. | |
:01:59. | :02:00. | ||
first of them, the financial world might not forgive them if they | :02:00. | :02:06. | |
failed to three fence week members. Ministers from Brazil to China and | :02:07. | :02:11. | |
Japan are expected to warn Europe that it is not doing enough to | :02:11. | :02:16. | |
contain its sovereign debt crisis. As a result, it is exporting, not | :02:16. | :02:20. | |
only currency instability, but also global recession. Europe will say | :02:20. | :02:26. | |
it is working on a comprehensive rescue package to be launched on | :02:26. | :02:31. | |
the 23rd of this month. Well in time to be judged by the full G20 | :02:31. | :02:38. | |
at its summit early next month. have to support the euro because it | :02:38. | :02:42. | |
is in your own interests. A collapse of the euro would have | :02:42. | :02:48. | |
dramatic consequences. When the crisis becomes systemic, you are a | :02:48. | :02:52. | |
part of it. As long as it is considered as a Greek crisis, it | :02:53. | :02:57. | |
can behave as if it is not your problem. One organisation very keen | :02:57. | :03:01. | |
to get its ideas over to the G20 is the International Chamber of | :03:01. | :03:10. | |
Commerce. What is your message for the G20 here? The message is that | :03:11. | :03:14. | |
their existence is to foster international economic couple -- | :03:14. | :03:20. | |
Corporation. There is the risk of the relative drying up of trade | :03:20. | :03:24. | |
finance provided by banks. That is essential to the proper functioning | :03:24. | :03:30. | |
of international trade. That is why it is important for the G20 to | :03:30. | :03:35. | |
tackle these stalemate and to put a stop to protectionist measures. | :03:35. | :03:39. | |
final deal to help the eurozone back on its feet may be a mixture | :03:39. | :03:44. | |
of a still larger bail out and the funds for individual banks in each | :03:44. | :03:51. | |
country. Ministers have just ten days to deliver it. | :03:51. | :03:54. | |
As well as Spain global markets will also be watching Italy closely | :03:54. | :04:00. | |
this Friday, where it is a day of political brinkmanship for Silvio | :04:00. | :04:04. | |
Berlusconi. He called a confidence vote to fend off claims his | :04:04. | :04:08. | |
majority is crumbling after it lost a key budget vote on Tuesday. He | :04:08. | :04:12. | |
says his government is aware of the risks the country faces and the | :04:12. | :04:19. | |
time constraints dictated by the markets. We are joined by a | :04:19. | :04:24. | |
professor from the European School of Economics. What are the chances | :04:24. | :04:30. | |
of the vote being lost? Its if you ask the opposition, they are very | :04:30. | :04:40. | |
:04:40. | :04:47. | ||
slim. The majority seems to be confident and stop --. Silvio | :04:47. | :04:51. | |
Berlusconi it is the most confident under these conditions. We will see | :04:51. | :04:55. | |
what happens but they seem to be able to think they will pull it off. | :04:55. | :05:00. | |
Silvio Berlusconi has warned that there will be financial turmoil it | :05:00. | :05:08. | |
he does not win. Italian politicians cannot pretend that the | :05:08. | :05:13. | |
financial markets do not scrutinised their actions as they | :05:14. | :05:20. | |
did in the past. There may be some consequences. If the vote fails, | :05:20. | :05:25. | |
the chances for survival of the government are severely put in | :05:25. | :05:32. | |
question. Silvio Berlusconi will try his best. The consequences are | :05:32. | :05:42. | |
:05:42. | :05:43. | ||
not good. Making the right decisions to make it is like making | :05:43. | :05:48. | |
the wrong decisions. The country has got itself into a large | :05:48. | :05:55. | |
economic hole, largely because of the amount of debt it has. Long- | :05:55. | :06:01. | |
term, is Silvio Berlusconi a good thing? I think there is an | :06:01. | :06:04. | |
awareness that there are an number of problems that need to be | :06:04. | :06:14. | |
:06:14. | :06:16. | ||
resolved. It's there is a debate that has been going on recently. | :06:16. | :06:20. | |
It's now is the time that decisions need to be made and Silvio | :06:20. | :06:25. | |
Berlusconi knows that. There is a lot of pressure on him. Hopefully | :06:25. | :06:29. | |
he will be able to put us through some of the harsh political | :06:29. | :06:37. | |
decisions. Inflation concerns are in focus | :06:37. | :06:43. | |
this Friday for two of Asia's economic giants, China and India. | :06:43. | :06:48. | |
We are joined by our correspondent from Singapore. This is not what we | :06:48. | :06:55. | |
need to hear. No. Not at all. China revealed its numbers a little | :06:55. | :07:01. | |
earlier. It slowed marginally in September to 6.1%. That is down 0.1 | :07:01. | :07:07. | |
of 8% from the previous month. It is a lot low of the three-year high | :07:07. | :07:14. | |
of 6.5% in July. It is the six- month that it has been over 6%. It | :07:14. | :07:19. | |
is raising concerns amongst the Chinese authorities. They are | :07:19. | :07:22. | |
worried that persistent be high prices that things like food and | :07:22. | :07:26. | |
property might cause social unrest. They have already tried to bring a | :07:27. | :07:32. | |
host of measures to try to address it. They have increased bank | :07:32. | :07:39. | |
reserve ratios. They have also hiked interest rates five times | :07:39. | :07:45. | |
since October last year. India is the other country. It is also | :07:45. | :07:50. | |
suffering from very high inflation as well. That is due out a bit | :07:50. | :07:56. | |
later. Food and fuel prices are the peak cruncher there. Food prices | :07:56. | :08:03. | |
are a very sensitive issue. They have also tried to act there. But | :08:03. | :08:13. | |
:08:13. | :08:14. | ||
they have not helped. It's the business community says that growth | :08:15. | :08:20. | |
has been stifled by these tightened policy measures. Analysts say that | :08:20. | :08:25. | |
a lot more needs to be done in terms of improving infrastructure. | :08:25. | :08:32. | |
All of these high inflation comes against a backdrop of the slowing | :08:32. | :08:39. | |
we are seeing in the US and Europe. It is time for a look at some of | :08:39. | :08:44. | |
the other stories. A US judge has said that Samsung's Alexei tablet | :08:44. | :08:54. | |
:08:54. | :08:54. | ||
in computers has a patent on the iPad. Apple is trying to have rival | :08:54. | :09:00. | |
Samsung products bend in the US. It argues that its galaxy phones copy | :09:00. | :09:04. | |
the iPhone. The two companies are engaged in a battle that includes | :09:04. | :09:09. | |
more than 20 cases in 10 countries. Australian fans have been the first | :09:09. | :09:12. | |
to buy the new generation of the iPhone as it goes on sale around | :09:12. | :09:16. | |
the world this Friday. Critics have complained the new version of the | :09:16. | :09:20. | |
phone is not revolutionary enough to warrant an upgrade. Apple claims | :09:20. | :09:27. | |
to have taken more than one million warders in the first 24 hours. It's | :09:27. | :09:37. | |
:09:37. | :09:41. | ||
-- orders. We have had not a bad week for the | :09:41. | :09:43. | |
markets if you take into consideration what has been | :09:43. | :09:49. |