:00:06. > :00:16.Those are the latest headlines. Now, all the News in money and finance
:00:16. > :00:17.
:00:17. > :00:24.with World Business report. -- news. Welcome to World Business report.
:00:24. > :00:32.The Top stories: BP calls on Halliburton to pay for the cost of
:00:32. > :00:42.the Golf oil spill. Facebook's be you. It plans to raise record sums
:00:42. > :00:46.
:00:46. > :00:51.on the stock market. -- Gulf. BP says that all its cost and damages
:00:51. > :00:56.from the Gulf of Mexico oil spill should be paid by Halliburton, a
:00:56. > :01:01.key Contractor. BP has already paid out more than $21 billion in
:01:01. > :01:11.compensation and costs related to the Deepwater Horizon explosion in
:01:11. > :01:12.
:01:12. > :01:17.2010. Put this into context. What is the legal situation with BP,
:01:17. > :01:24.because it has already settled with some players in this disaster? This
:01:24. > :01:30.is a huge claim by BP. It is trying to get all the costs of this
:01:30. > :01:34.disaster that spilled 4 million barrows -- barrels of crude oil
:01:34. > :01:40.into the Gulf of Mexico and killed 11 people, is trying to recover the
:01:40. > :01:46.money it tests and already from one of its contractors, Halliburton.
:01:46. > :01:54.All of the country's involved -- companies involved in the disaster
:01:54. > :02:04.have been sparring, since 20th April 10 when it occurred. What we
:02:04. > :02:10.are now have is BP trying to show that Halliburton, which was in
:02:10. > :02:12.charge with cementing the oil well on the sea floor, is trying to show
:02:12. > :02:19.that Halliburton is responsible and should be held financially
:02:19. > :02:24.accountable. How has Halliburton responded? They say that the
:02:24. > :02:31.contracts they had with BP indemnify them. They say they do
:02:31. > :02:36.not have to pay anything because it is the risk of BP, that it was a
:02:36. > :02:40.contract and that it should not be responsible for any cost or damages.
:02:40. > :02:46.That is according to their spokesperson. This has been an
:02:46. > :02:55.ongoing issue. BP has managed to settle claims with some of its
:02:55. > :03:01.other partners and contractors, including people like the petroleum
:03:01. > :03:05.company and also Cameron International Court, which made the
:03:05. > :03:12.blow-out could better. But they still have not come to any
:03:12. > :03:22.agreement with two key players, Halliburton and Transocean. All of
:03:22. > :03:23.
:03:23. > :03:30.this is still subject to about 500 lawsuits, off which which will come
:03:30. > :03:38.before a Federal judge down in New Orleans, beginning in February. --
:03:38. > :03:43.all of which. 2012 promises to be a big year for Facebook. It will sell
:03:43. > :03:49.shares to the public, raising $10 billion, making it one of the
:03:49. > :03:56.biggest ever American stock offerings. This year, we are taking
:03:56. > :04:04.the next step. The changes introduced by Facebook boss Mon-Sat
:04:04. > :04:14.a boat were be. Another potentially monumental change is around the
:04:14. > :04:16.
:04:16. > :04:25.corner, raising money by selling shares to the public. -- Mark
:04:25. > :04:30.Zuckerberg. They are talking about raising $10 billion for they were
:04:30. > :04:40.ocean of a hundred billion dollars. Google was the biggest I thank you
:04:40. > :04:41.
:04:41. > :04:51.R Road before that, but it was only to be an dollars. - IPO. To be an
:04:51. > :04:58.
:04:58. > :05:02.dollars. $2 billion. But is it worth that much? Howard Friedman
:05:02. > :05:09.advises companies that want to go public. He says flotations can
:05:09. > :05:14.bring headaches. It effects investor relation, strategy, as a
:05:14. > :05:20.public company you are subject to analysts, investors, customers of
:05:20. > :05:25.the company. You have to balance different demands to be successful.
:05:25. > :05:30.Facebook's listing is one of the most anticipated events, not just
:05:30. > :05:36.in Silicon Valley, but also here on Wall Street. But this is no
:05:36. > :05:42.guarantee of success. Some fear that investors still have some
:05:42. > :05:48.doubts about social media listings. But all of that could affect
:05:48. > :05:58.Facebook in 2012. -- and all of that. Some of the other top
:05:58. > :05:59.
:05:59. > :06:06.business stories: brazil's economy powers ahead. -- Brazil. It had a
:06:06. > :06:14.huge surge in the expert -- exports, especially to China. There has been
:06:15. > :06:20.a big slowdown in forcing Airport's economy last year, manufacturer in
:06:20. > :06:25.saw a particular slowdown with output down by more than 20%. The
:06:25. > :06:29.Government is forecasting the weaker economic growth this year.
:06:29. > :06:36.The Czech government says the economy could shrink by 2% this
:06:36. > :06:41.year. Only last month Parliament approved a budget based on growth.
:06:41. > :06:46.The Government blames the European debt crisis for the situation. That
:06:46. > :06:53.debt crisis is taking a heavy toll on the conference of European
:06:53. > :06:58.businesses. That is the result of a recent survey. They surveyed 3,000
:06:58. > :07:04.businesses across the world. In Europe, confidence plunged in the
:07:04. > :07:10.final months of 2011. In the US, this is thus became as a little
:07:10. > :07:20.more optimistic blast at the end of last year. But the most confident
:07:20. > :07:21.
:07:21. > :07:27.were nations like Brazil and China. These are pretty predictable
:07:28. > :07:33.results? They are predictable. Do you find business leaders you have
:07:33. > :07:37.been talking to have taken the view of the city, for example, the
:07:37. > :07:42.financial institutions, that it rests with the politicians who were
:07:42. > :07:48.talking too much and not taking action stop you vote Yes, business
:07:48. > :07:56.leaders have telling us politics are getting in the way. They want
:07:56. > :08:00.people to resolve the Euro crisis. There is a lot of uncertainty. More
:08:01. > :08:06.concern than the uncertainty. they feel that if politicians are
:08:06. > :08:13.slow off the mark, the city needs to push it to a conclusion.
:08:13. > :08:19.requires a unified effort from all business leaders. Winning the
:08:19. > :08:24.European Union United. We need the ECB guaranteeing sovereign debt. We
:08:24. > :08:31.need all the cities, government are authorities acting together to
:08:31. > :08:37.resolve the crisis. Given that, you will not yet unity. But also, a
:08:37. > :08:44.number of businesses, especially exporters, who have benefited from
:08:44. > :08:49.the crisis. It has pushed up the bottom line. Yes. Major countries
:08:49. > :08:55.like Germany, which export goods and services, says that demand has
:08:55. > :09:05.increased because the euro has dropped. But is these economic
:09:05. > :09:07.
:09:07. > :09:13.divide pushing walk companies towards the bricks States?. Yes,
:09:13. > :09:23.that it -- those are the countries about seeing future growth. Let's
:09:23. > :09:31.
:09:31. > :09:36.look at the financial markets. -- BRICs. You can see there are full
:09:36. > :09:43.day's other activity. Some optimism, perhaps because we had some data
:09:43. > :09:48.coming through from the US, pointing to some signs of firmness.