:00:04. > :00:14.second turn in office by a wide margin.
:00:14. > :00:19.
:00:19. > :00:23.Now it is time for World Business These are the headlines: Of
:00:23. > :00:27.tackling the eurozone debt crisis - EU leaders say they have made
:00:27. > :00:33.progress, but details have to be hammered out.
:00:33. > :00:39.Discounting expectations, downplaying the forecast of a stock
:00:39. > :00:43.market debut. Japan's exports expend in the mud
:00:43. > :00:53.of September as the main ephedrine sector returns debris earthquake
:00:53. > :00:57.
:00:57. > :01:01.EU leaders say they have made progress in their battle to solve
:01:01. > :01:11.the eurozone crisis. In a meeting in Brussels Oval the weekend, they
:01:11. > :01:14.
:01:14. > :01:18.have made some headway in making progress. Details still have to be
:01:18. > :01:23.hammered out and there has got to be done between now and Wednesday,
:01:23. > :01:27.when another summit is being held. Today, Italy's is expected to hold
:01:27. > :01:37.a cabinet meeting on growth, after coming under intense pressure to
:01:37. > :01:39.
:01:39. > :01:42.reform its economy. We go live to Brussels now. Let's start by saying
:01:42. > :01:46.the seriousness of the situation seems to be overshadowed between
:01:46. > :01:53.the row between David Cameron and Nicolas Sarkozy. Is that just a
:01:53. > :01:59.sideshow? No, I think it is just a sideshow. We see they have tried to
:01:59. > :02:04.work hard on this big master plan, but they have not succeeded in it.
:02:05. > :02:10.There are still a couple of controversial issues that need to
:02:10. > :02:14.assault. One is how to get the second bail-out package will Greece.
:02:14. > :02:20.The second is how to boost the rescue fund, without putting more
:02:20. > :02:25.money on the table. That is the key thing with the boosting of the
:02:25. > :02:28.bail-out fund, where does the money come from? Is a back by the
:02:28. > :02:35.European Central Bank or do we asked the German taxpayers to foot
:02:35. > :02:41.the bill? I think there is so much resistance from the German
:02:41. > :02:47.government. It apparently, the ECB option is of the table. It means
:02:47. > :02:55.you are back at some complicated insurance mechanism, which I have
:02:55. > :02:58.my doubts about. You and I have talked a lot over the last few
:02:58. > :03:08.months and said, they have to sort this out, but they really have got
:03:08. > :03:13.to sort this out. Of course they have to. To give them some credit,
:03:13. > :03:19.it is a complex issue. All the different levels are intimate that
:03:19. > :03:23.it is not easy to come up with on a Sunday afternoon. Now, expectations
:03:23. > :03:31.are so high that they need to deliver on Wednesday. Do you think
:03:31. > :03:36.by having all 27 countries involved when state, it will make it easier?
:03:36. > :03:41.-- on Wednesday. The more countries you have on the table, the more
:03:41. > :03:45.complicated it gets to make a conclusion. We need the 27
:03:45. > :03:51.countries to look forward and talk about possible changes and had to
:03:51. > :03:56.make the monetary union a more political union. Dissolve the
:03:57. > :04:02.eurozone crisis, we need to talk to the 17 eurozone countries. -- to
:04:02. > :04:07.solve. The markets will be looking at what
:04:07. > :04:10.happens on Wednesday to see how they will react. This is how the
:04:10. > :04:17.European markets ended. They seem to be an indication that perhaps
:04:17. > :04:22.there will be a solution. Away from that though, in Asia, there is some
:04:22. > :04:32.key data have from China, which has gone over there 50 mark for the
:04:32. > :04:38.first time since July, which is good. It shows that past fears of a
:04:38. > :04:45.slowdown in China had been allayed. There is evidence that growth is
:04:45. > :04:50.returning to Japan after the earthquake and tsunami in March. We
:04:50. > :04:57.have got some positive news, haven't we, on exports?
:04:57. > :05:05.Finally, some good news coming out of Japan. A trade surplus of nearly
:05:05. > :05:10.$4 billion showing a recovery is indeed under way. There are its end
:05:10. > :05:15.but if this can be sustained. - make its and buts. Manufacturers
:05:15. > :05:19.are still facing a strong yen and worries about the health of the
:05:19. > :05:24.global economy. As we mentioned earlier, Europe is struggling to
:05:24. > :05:28.solve its debt crisis. The US unemployment numbers remain very
:05:29. > :05:37.high. If you break down the numbers, exports to China, Japan's biggest
:05:37. > :05:42.overseas market, rose by 2.7%. There is still a lot of ruck to do
:05:42. > :05:46.for the Japanese economy and for the export sector.
:05:46. > :05:54.In interesting story that has come out of churning about some people
:05:54. > :05:58.who had been jailed for leaking financial information? -- China.
:05:58. > :06:03.The Chinese government is currently cracking down on the leakage of
:06:03. > :06:11.this important economic reports. There are two officials now behind
:06:11. > :06:18.bars. They revealed key economic data to stock brokerage companies
:06:18. > :06:20.before they were released. This is insider information. The officials
:06:20. > :06:28.work in the National Bureau of Statistics and the People's Bank of
:06:28. > :06:31.China and was sentenced to five and six years respectively in jail. The
:06:31. > :06:34.national administration for protection of state secrets, which
:06:34. > :06:39.made the arrests, did not reveal specific details about the
:06:39. > :06:45.information of the impact of the leaks. They said, the Fisher shed
:06:45. > :06:48.classified data numerous times. Apart from the two officials jailed,
:06:48. > :06:52.four other people in the securities industries are also being
:06:52. > :07:02.investigated. The government is basically seeking to reduce leaks
:07:02. > :07:08.
:07:08. > :07:13.of economic data, such as inflation The US discount sale group on watch
:07:13. > :07:17.as a road show this week to persuade investors to buy into its
:07:17. > :07:21.stock market debut. It says it plans to raise more than $620
:07:22. > :07:28.million from investors. They all played between $16.18 dollars per
:07:28. > :07:34.share. It values the company at $11 billion. A far cry from the $30
:07:34. > :07:39.billion valuation was being talked about.
:07:39. > :07:44.For shoppers hunting online bargains, it has become the place
:07:44. > :07:49.to go. Founded in 2008, it offers one of discounts for everything
:07:49. > :07:55.from haircuts to restaurant meals, even laser eye surgery. With a
:07:55. > :08:00.rapid growth and revenues of $430 million last quarter, the company
:08:00. > :08:03.now wants to attract shareholders. I think it is in an awkward
:08:03. > :08:07.teenager phase. They had an explosive growth in the first
:08:07. > :08:11.couple of years. Now they are transition into profitability. As
:08:11. > :08:18.they do that, the group is going to slow and will be a concern to a lot
:08:18. > :08:22.of people. Eventually, they would get through this period and there
:08:22. > :08:26.will be a large, profitable business. The discount has had to
:08:26. > :08:32.spend nearly half of its revenues on marketing itself. US regulators
:08:32. > :08:36.had been concerned by its accounting practices. Even some of
:08:36. > :08:41.its small business partners had been unhappy. Partners like this
:08:41. > :08:46.woman, who runs a staff. Let's say someone is buying a botox treatment
:08:46. > :08:52.from us and we have discovered it radically to the point where we are
:08:52. > :08:56.upside-down, but we fear it is good advertising for us. -- feel. A bit
:08:56. > :09:03.later, a botox deal comes out for the same pace or lawyer from
:09:03. > :09:07.another practice. This is the experience we have had. It does not
:09:07. > :09:10.necessarily translate into regular clients tell. Although some
:09:11. > :09:16.retailers complain that he is not leading up to its end of the
:09:16. > :09:23.bargain, he does have a growing army of followers, 143 million
:09:23. > :09:28.users. They are increasingly picking up on those deals. In the
:09:28. > :09:33.last three months, customers have bought 30 million deals. The
:09:33. > :09:38.company is clearly confident. They turn down a $6 billion offer from
:09:38. > :09:44.Google in December. It believes its bargain business model is something