21/10/2011 World Business Report


21/10/2011

Similar Content

Browse content similar to 21/10/2011. Check below for episodes and series from the same categories and more!

Transcript


LineFromTo

been killed since the beginning of its campaign in 1988. Now it is

:00:05.:00:15.
:00:15.:00:21.

time for World Business Report. The summit this weekend to save the

:00:21.:00:26.

euro. France and Germany admit they will have to have more talks next

:00:26.:00:36.
:00:36.:00:38.

week. Caution in Asia as investors remain sidelined ahead of the

:00:39.:00:44.

crucial European summit. Rupert Murdoch's faces his shareholders,

:00:44.:00:54.
:00:54.:00:57.

bracing for a rough ride over the phone hacking scandal. After many

:00:57.:01:01.

months going round in circles European leaders cannot put things

:01:01.:01:06.

off for much longer. At a summit in Brussels this weekend they will try

:01:06.:01:16.
:01:16.:01:18.

to finalise their grand plan to solve the European debt crisis. The

:01:18.:01:21.

rest of the financial world can only watch and wait. Our

:01:21.:01:29.

correspondent reports. A few days to save the Cern and its economy

:01:29.:01:39.
:01:39.:01:47.

from a conflagration that would scorch the global economy. -- to

:01:47.:01:56.

euros and saved the eurozone. Popular press Test against the

:01:56.:02:00.

flaws in the financial system are mushrooming all over America and

:02:00.:02:09.

Europe. This protest is outside St Paul's Cathedral. Been protest

:02:09.:02:14.

could become larger and louder. How long are you prepared to stick it

:02:14.:02:24.
:02:24.:02:27.

out? The people are to be to fail. -- too large to fail. You cannot

:02:27.:02:32.

make too many parallels between Greece and he. The common factor is

:02:32.:02:38.

that people are being made to pay for crisis they did not cause.

:02:38.:02:45.

Contagion from Greece, strikes, strife and economic meltdown that

:02:45.:02:52.

European leaders want to avoid at all costs. They are looking to

:02:52.:02:57.

strengthen banks and increase the bail-out fund. Escalation of the

:02:57.:03:02.

crisis, real problems with Greece. Countries like Italy and Spain

:03:02.:03:12.
:03:12.:03:14.

stand to suffer. There is still a divide between France and Germany

:03:14.:03:19.

on how to increase the size of their rescue fund. There is no

:03:19.:03:23.

consensus on whether Greece should be allowed to write off more of its

:03:23.:03:30.

debt. They can stop the crisis getting worse but the really be a

:03:30.:03:36.

challenge is to get sustainable growth back to the countries of the

:03:36.:03:41.

periphery. We are not seen that happening. What should be

:03:41.:03:47.

preventable in the coming hours and days his financial catastrophe, but

:03:47.:03:50.

stabilising these Anne and rebuilding his economy is a Labour

:03:50.:04:00.
:04:00.:04:02.

for the months and years ahead. -- stabilising the rose. BBC News.

:04:02.:04:12.
:04:12.:04:12.

What is the feeling about the weekend? On the market's investors

:04:12.:04:19.

are not taking any big positions. Volumes are thin. Markets have not

:04:19.:04:29.
:04:29.:04:31.

done anything exciting this Friday morning. The AA XX 200 has gone

:04:31.:04:38.

into negative territory. They had open slightly higher at now the

:04:38.:04:42.

markets are not reacting well. There is a lot of concern about

:04:42.:04:47.

what will happen at the summer and in Europe. Of course they are

:04:47.:04:57.
:04:57.:04:59.

hoping to see some kind of resolution. The eurozone is the

:04:59.:05:09.
:05:09.:05:09.

biggest trading partner for Singapore, for instance. The

:05:09.:05:17.

ratings of Spain, Italy, Ireland and Portugal could have their

:05:17.:05:24.

ratings downgraded. That will not help sentiment in Asia. People are

:05:24.:05:29.

watching developments in Libya with interest as to whether the death of

:05:29.:05:36.

Colonel Gaddafi will hasten the return to oil production. If you

:05:36.:05:46.
:05:46.:05:46.

take the markets as a gauge their has not been too much reaction.

:05:46.:05:54.

Very mixed reaction in spite of optimism that perhaps the death of

:05:54.:06:01.

Colonel Gaddafi may be to a resumption of the oil industry in

:06:01.:06:08.

Libya. We heard from the chairman of the National Oil Company to say

:06:08.:06:14.

that output has already been ramped up but There RAL tough challenges

:06:14.:06:24.
:06:24.:06:25.

ahead for Libya. We construction will take some time. News

:06:25.:06:28.

Corporation chief Rupert Murdoch is braced for a rough ride from

:06:28.:06:34.

shareholders this Friday. A growing number of shareholder advisory

:06:34.:06:40.

groups are recommending that shareholders use the AGM to vote

:06:40.:06:45.

against News Corp directives. Someone to see Rupert Murdoch and

:06:45.:06:49.

his sons ousted from the board following the phone hacking scandal.

:06:49.:06:57.

Our correspondent reports. At eight he won Rupert Murdoch is under

:06:57.:07:01.

pressure as never before. A vocal band of News Corp shareholders

:07:01.:07:11.
:07:11.:07:12.

wanted get rid of him id of him n and chief executive. This woman

:07:12.:07:19.

represents a foundation of shareholders. She says there are so

:07:19.:07:22.

many issues with a musical is run it is difficult to know where to

:07:22.:07:29.

begin. It is frustrating that there seems to be a lack of

:07:29.:07:34.

accountability and transparency. Shareholders have been continually

:07:34.:07:43.

frustrated on many fronts by a lack of transparency. The phone hacking

:07:43.:07:48.

scandal emerged in the UK lusty. End led to the closure of News of

:07:48.:07:52.

the World at all certain multiple arrests and lawsuits and critic the

:07:52.:08:02.

loss of a major deal. News col's attempts to buy BSkyB. -- News

:08:02.:08:12.
:08:12.:08:18.

Corp's attempts. Broadcaster and satellite licences can tarnish the

:08:18.:08:22.

reputation so they cannot get them any more. It puts the whole

:08:22.:08:28.

enterprise in jeopardy Foster shareholders may be angry, but they

:08:28.:08:34.

are unlikely to get their way with Rupert Murdoch end his family.

:08:34.:08:40.

shareholder meeting may get heated, but it is unlikely to mean big

:08:40.:08:44.

changes for the company. The Murdoch company controls almost

:08:44.:08:48.

half of the voting shares and the UK News of the World hacking

:08:48.:08:58.
:08:58.:08:59.

scandal has still had only a limited impact in the US. BBC News.

:08:59.:09:05.

Investors will be watching results from General Electric for more

:09:05.:09:14.

signs of the global economy. They make everything from lightbulbs to

:09:14.:09:22.

jet tensions and their growth has been down 10% this year. As

:09:22.:09:29.

Download Subtitles

SRT

ASS