03/01/2012 World Business Report


03/01/2012

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Those are the latest headlines. Now, all the News in money and finance

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with World Business report. -- news. Welcome to World Business report.

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The Top stories: BP calls on Halliburton to pay for the cost of

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the Golf oil spill. Facebook's be you. It plans to raise record sums

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on the stock market. -- Gulf. BP says that all its cost and damages

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from the Gulf of Mexico oil spill should be paid by Halliburton, a

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key Contractor. BP has already paid out more than $21 billion in

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compensation and costs related to the Deepwater Horizon explosion in

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2010. Put this into context. What is the legal situation with BP,

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because it has already settled with some players in this disaster? This

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is a huge claim by BP. It is trying to get all the costs of this

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disaster that spilled 4 million barrows -- barrels of crude oil

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into the Gulf of Mexico and killed 11 people, is trying to recover the

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money it tests and already from one of its contractors, Halliburton.

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All of the country's involved -- companies involved in the disaster

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have been sparring, since 20th April 10 when it occurred. What we

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are now have is BP trying to show that Halliburton, which was in

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charge with cementing the oil well on the sea floor, is trying to show

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that Halliburton is responsible and should be held financially

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accountable. How has Halliburton responded? They say that the

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contracts they had with BP indemnify them. They say they do

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not have to pay anything because it is the risk of BP, that it was a

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contract and that it should not be responsible for any cost or damages.

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That is according to their spokesperson. This has been an

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ongoing issue. BP has managed to settle claims with some of its

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other partners and contractors, including people like the petroleum

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company and also Cameron International Court, which made the

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blow-out could better. But they still have not come to any

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agreement with two key players, Halliburton and Transocean. All of

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this is still subject to about 500 lawsuits, off which which will come

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before a Federal judge down in New Orleans, beginning in February. --

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all of which. 2012 promises to be a big year for Facebook. It will sell

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shares to the public, raising $10 billion, making it one of the

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biggest ever American stock offerings. This year, we are taking

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the next step. The changes introduced by Facebook boss Mon-Sat

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a boat were be. Another potentially monumental change is around the

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corner, raising money by selling shares to the public. -- Mark

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Zuckerberg. They are talking about raising $10 billion for they were

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ocean of a hundred billion dollars. Google was the biggest I thank you

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R Road before that, but it was only to be an dollars. - IPO. To be an

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dollars. $2 billion. But is it worth that much? Howard Friedman

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advises companies that want to go public. He says flotations can

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bring headaches. It effects investor relation, strategy, as a

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public company you are subject to analysts, investors, customers of

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the company. You have to balance different demands to be successful.

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Facebook's listing is one of the most anticipated events, not just

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in Silicon Valley, but also here on Wall Street. But this is no

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guarantee of success. Some fear that investors still have some

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doubts about social media listings. But all of that could affect

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Facebook in 2012. -- and all of that. Some of the other top

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business stories: brazil's economy powers ahead. -- Brazil. It had a

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huge surge in the expert -- exports, especially to China. There has been

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a big slowdown in forcing Airport's economy last year, manufacturer in

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saw a particular slowdown with output down by more than 20%. The

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Government is forecasting the weaker economic growth this year.

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The Czech government says the economy could shrink by 2% this

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year. Only last month Parliament approved a budget based on growth.

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The Government blames the European debt crisis for the situation. That

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debt crisis is taking a heavy toll on the conference of European

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businesses. That is the result of a recent survey. They surveyed 3,000

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businesses across the world. In Europe, confidence plunged in the

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final months of 2011. In the US, this is thus became as a little

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more optimistic blast at the end of last year. But the most confident

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were nations like Brazil and China. These are pretty predictable

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results? They are predictable. Do you find business leaders you have

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been talking to have taken the view of the city, for example, the

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financial institutions, that it rests with the politicians who were

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talking too much and not taking action stop you vote Yes, business

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leaders have telling us politics are getting in the way. They want

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people to resolve the Euro crisis. There is a lot of uncertainty. More

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concern than the uncertainty. they feel that if politicians are

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slow off the mark, the city needs to push it to a conclusion.

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requires a unified effort from all business leaders. Winning the

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European Union United. We need the ECB guaranteeing sovereign debt. We

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need all the cities, government are authorities acting together to

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resolve the crisis. Given that, you will not yet unity. But also, a

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number of businesses, especially exporters, who have benefited from

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the crisis. It has pushed up the bottom line. Yes. Major countries

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like Germany, which export goods and services, says that demand has

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increased because the euro has dropped. But is these economic

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divide pushing walk companies towards the bricks States?. Yes,

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that it -- those are the countries about seeing future growth. Let's

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look at the financial markets. -- BRICs. You can see there are full

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day's other activity. Some optimism, perhaps because we had some data

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coming through from the US, pointing to some signs of firmness.

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