:00:05. > :00:15.Those are the latest headlines. All eyes are run the Fed chairman, Ben
:00:15. > :00:15.
:00:15. > :00:23.Bernanke. -- are on. We have World Business Report. This is World
:00:23. > :00:31.Business Report. The headlines: The Fed will discuss interest rates,
:00:31. > :00:40.what else will it tell the American public about the economy? The
:00:40. > :00:50.whistleblower of the island this accounting fraud is back on the
:00:50. > :00:51.
:00:51. > :01:00.board. -- Olympus. We turn to China and his problem with a skills and
:01:00. > :01:05.jobs mismatch. -- its problems. America's Central Bank has done
:01:05. > :01:10.more to explain his policies to the public than ever before. It is
:01:10. > :01:15.working on a plan to go even further. When it meets on Tuesday,
:01:15. > :01:21.few expect new moves to be announced. Especially when the US
:01:21. > :01:30.economy continues to improve. The US economy is putting on a good
:01:30. > :01:33.show at the moment. The current performance of American shoppers is
:01:33. > :01:43.driving the recovery at a time of budget cuts and stock market
:01:43. > :01:44.
:01:44. > :01:51.volatility. This trading company specialises in all things made in
:01:51. > :01:55.America. It has been open for over one year. The store manager says
:01:55. > :02:02.business has definitely picked up over the holiday season. I know a
:02:02. > :02:12.lot of the regular customers in here. Some customers come in here
:02:12. > :02:15.
:02:15. > :02:22.when they get paid. This man is monitoring shoppers habits closely,
:02:22. > :02:26.Ben Bernanke, the head of the Federal Reserve. He and his
:02:26. > :02:34.colleagues are not expected to announce any new moves when they
:02:34. > :02:41.meet on Tuesday. They will probably keep the downside risk in their
:02:41. > :02:47.statement. Largely because of the eurozone debt crisis. That is going
:02:47. > :02:52.to keep them on their toes. Even without Europe's troubles, are
:02:52. > :02:58.American consumers headed for a come down in the new year? Unless
:02:58. > :03:08.the jobs market improves substantially, will the spending
:03:08. > :03:11.
:03:11. > :03:16.dry up when the credit-card bills arrive? We can go to Singapore. You
:03:16. > :03:25.are going to tell us about the whistleblower, camera maker and the
:03:25. > :03:32.missing billions? Not necessarily in that order. The whistleblower
:03:32. > :03:38.will meet with Members of Parliament in Japan to lobby for
:03:38. > :03:44.reforms in Japanese boardrooms. Michael Woodford is on a mission to
:03:44. > :03:51.persuade employees that he is the right person to return to his old
:03:51. > :03:56.job and get the firm back on track. Michael Woodford told the Japanese
:03:56. > :04:02.magazine that if he got his job back he would push for a US style
:04:02. > :04:09.system of strong external directors. He faces an uphill task to make a
:04:09. > :04:19.comeback. The board plans to resign, but not before it takes its Ina
:04:19. > :04:42.
:04:42. > :04:50.successes. -- own successors. This is good news for Alyn this -- a
:04:50. > :05:00.Olympus shares. They are up 6%. Things are looking up for this
:05:00. > :05:08.
:05:08. > :05:13.Japanese company. Thank you. Let's take a look at the skills and jobs
:05:13. > :05:17.mismatch, in the last decade in China the number of students
:05:17. > :05:25.leaving university has increased sixfold. There are not enough jobs
:05:25. > :05:31.for graduates in the main cities. We report from Beijing. They are
:05:31. > :05:36.among the growing ranks of China's graduates. More than 6 million left
:05:36. > :05:42.university this year. Despite having degrees, many are left
:05:42. > :05:47.disappointed when they enter the job market. Much of China's economy
:05:47. > :05:52.remains in low-paid manufacturing industries. That may change in the
:05:52. > :05:59.future, but for now the millions of graduates have fierce competition
:05:59. > :06:05.if they want to find a good job. is stressful trying to find a job
:06:05. > :06:09.here. You can find a stable job but it does not pay very much. There
:06:09. > :06:15.are so many graduates every year and not many people are retiring.
:06:15. > :06:21.It leaves young people with few opportunities. For those prepared
:06:21. > :06:29.to leave the big cities, there are opportunities to be found. Many
:06:29. > :06:35.young people want to stay where they studied. Many graduates do not
:06:35. > :06:45.make the grade. The carried education system encourages local -
:06:45. > :06:46.
:06:46. > :06:54.- rote learning rather than critical thinking. The ability to
:06:54. > :07:02.adapt to the fast-moving economy is essential. Growing numbers of
:07:02. > :07:06.Chinese are attending universities overseas. She hopes to go to the UK
:07:06. > :07:11.next ear. She believes getting a foreign education will give her an
:07:12. > :07:16.advantage when she returns back home. Of course I believe I can get
:07:16. > :07:24.a better job because I have broadened my horizons, I have
:07:24. > :07:29.accumulated special experience and I have done many things by myself.
:07:29. > :07:35.In the future the Chinese authorities hope the growing
:07:35. > :07:45.numbers of graduates will create high-paid industries with high-paid
:07:45. > :07:49.
:07:49. > :07:59.jobs. Find out, they are falling short of expectations. -- for now.
:07:59. > :08:05.
:08:05. > :08:15.That was part of our series. You can find out more online. The stock
:08:15. > :08:15.
:08:15. > :08:20.in Saab has fallen by 19%. It owes money to suppliers and employees.
:08:20. > :08:30.Unconfirmed reports say the company has received a cash injection from
:08:30. > :08:32.
:08:32. > :08:36.a Chinese car maker. Shares in Intel tumbled in New York on Monday.
:08:36. > :08:44.That was after the firm cut its revenue forecast for the third
:08:44. > :08:49.quarter. Intel was affected by the devastating floods in Thailand were
:08:49. > :08:55.many of the chips are made. What has been happening in terms of the
:08:55. > :09:04.financial markets? It is quite a contrast. We saw gains on the
:09:04. > :09:10.markets yesterday. It is a case of reality sinking in. Fitch rating
:09:10. > :09:15.have said, the rest -- were responding to the EU summit, they
:09:15. > :09:21.said it would do little to ease pressure on the struggling
:09:21. > :09:28.governments. An agreement has been reached, but the devil is in the
:09:28. > :09:38.detail. The concern is what happens when the deal goes to national
:09:38. > :09:42.