26/10/2011 World Business Report

confirmed by the Electoral Commission that Ennahda is well

ahead in the vote. We now have World Business Report. This is

World Business Report. Showdown in Brussels, eurozone leaders made to

tackle the debt crisis. Ford heads for increased profits. Its finances

are solid. In Singapore, the Dreamliner is set to take off three

years later than planned due to production delays. The pressure is

well and truly on for eurozone leaders today. They are meeting in

Brussels to hammer out a comprehensive solution to the debt

crisis. Central to the meeting will be attempts to reach agreement on

boosting the bail-out fund. Leaders will be looking at the crucial

issue of strengthening the banking system to make sure it can

withstand any further shocks to the system. Another core issue will be

deciding how much Greek debt to write off. There will be special

attention on Italy, which is under intense pressure to cut its

enormous debt. There are fears it could follow Greece. We go to

Brussels. Let's talk about enlarging the bail-out fund, this

is key, isn't it? There is speculation it will come in the

form of an insurance scheme, is that workable? Only temporarily.

Countries have limited the amount of capital that is at risk with the

bail-out fund. We could give partial insurance and increase the

headline the size of the fund, but it does not really help. What is

going to be the acid test for the fund, is whether it will be able to

bring down the borrowing costs for Italy and Spain down to sustainable

levels, that will not be known today. Do you think that would

happen if there was this insurance scheme in place? Will the ECB have

to step in? Germany is resisting that. France is pushing for the ECB

to be central to enlarging the other way from where we sit today

unless the European Central Bank stepped in a much larger way for

the panic to be stemmed reliably for the foreseeable future. If it

is expanded and leveraged, it could temporally help. But it is a band

aid and it is not going to last. is a very tricky situation for

eurozone leaders, they want to work within the confines of the current

framework, without having to go back to governments to get

distilled past, because that is very sensitive politically, so you

can see why it is important to get an agreement? -- this deal past.

Yes, in 2010 the economic problems were rather limited. Since then the

economic problems have got larger and larger. It has got to the point

where it is no longer clear that there is enough political space in

the eurozone area to reliably contain the crisis. With the

European Central Bank, the decision-making at the ECB is

majority based. It lies outside the normal government channels. It is a

sad thing to say, unfortunately, at this point in time, democratic

accountability does not seem to be compatible with the most sensible

economic decisions that need to be taken. The ECB with its unlimited

firepower has better decision- making mechanisms, it is the only

thing that can stand the panic and give us time and safe to make the

structural change necessary. Absolutely. Thank you. We go to the

Singapore office. The Dreamliner finally takes wing, it has been a

bit delayed, hasn't it? Yes, by a couple of hours. Hopefully the

maiden commercial flight of the 787 will take off today. It has been

three years in waiting because of large production delays.

Development costs have been over budgeted in the billions of dollars.

Everyone is saying that it is a milestone in aircraft design. It is

built largely of hi-tech plastic rather than aluminium. Boeing says

the new aircraft is 20% more fuel- efficient than its predecessor. It

makes new roads profitable for airlines. The 787 is critical for

gaining cost competitiveness. Going forward, analysts are saying that

the success or failure will depend much on Japan. More than one-third

of the Dreamliner is billed by Japanese companies. -- is built.

Boeing says it hopes to build 10 planes per month by 2013. Hopefully

in a couple of hours we will see the Dreamliner taking off. Thank

you. Third-quarter earnings from Ford are released later today, the

numbers are expected to be an improvement from this time last

year. It is the 10th consecutive quarter of improved profit. It has

been adding customers and cutting back on the huge discounts it

offered to bring them in. It has big plans for Asia. In America big

never went away. Vehicles like this one are helping to drive sales at

Ford. The American car maker is in profit. The recovery has been kind

to Ford. Since 2009 it became profitable again, its sales

continue to grow faster up an impressive feat given how high the

US unemployment rate is and the economic slowdown that brought the

GM and Chrysler to the brink. The pieces continue to come together

for Ford. A recent agreement with the Union workers in America will

help it controlled labour costs. The company has won new customers

while offering fewer discounts. need to be selling new products and

looking to make sure that we have a prospect for the future of

expanding. Can debt laden Ford win over Wall Street? Last week it

moved one step closer. SNP lifted Ford's credit-rating. We have seen

the improvement of the cashflow and the conclusion that their ability

to stay profitable in North America is in good shape. Among American

drivers, the quality rating has dropped over the past year. For

investors, its ability to turn a profit seems more reliable. More

stories to update you on. Profits at Amazon have dropped 73% after

the company invested heavily in the Kindle computer. The company, the

largest online internet retailer or made $63 million. Amazon forecast

lower than expected sales for the next quarter. It is all change at

the top for IBM. The global sales achieved will take over as chief

executive in January. She will be one of the most powerful women in

US business. Let's have a quick look at the markets. Worries that