Browse content similar to 03/01/2012. Check below for episodes and series from the same categories and more!
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Those are the latest headlines. Now, all the News in money and finance | :00:06. | :00:16. | |
:00:16. | :00:17. | ||
with World Business report. -- news. Welcome to World Business report. | :00:17. | :00:24. | |
The Top stories: BP calls on Halliburton to pay for the cost of | :00:24. | :00:32. | |
the Golf oil spill. Facebook's be you. It plans to raise record sums | :00:32. | :00:42. | |
:00:42. | :00:46. | ||
on the stock market. -- Gulf. BP says that all its cost and damages | :00:46. | :00:51. | |
from the Gulf of Mexico oil spill should be paid by Halliburton, a | :00:51. | :00:56. | |
key Contractor. BP has already paid out more than $21 billion in | :00:56. | :01:01. | |
compensation and costs related to the Deepwater Horizon explosion in | :01:01. | :01:11. | |
:01:11. | :01:12. | ||
2010. Put this into context. What is the legal situation with BP, | :01:12. | :01:17. | |
because it has already settled with some players in this disaster? This | :01:17. | :01:24. | |
is a huge claim by BP. It is trying to get all the costs of this | :01:24. | :01:30. | |
disaster that spilled 4 million barrows -- barrels of crude oil | :01:30. | :01:34. | |
into the Gulf of Mexico and killed 11 people, is trying to recover the | :01:34. | :01:40. | |
money it tests and already from one of its contractors, Halliburton. | :01:40. | :01:46. | |
All of the country's involved -- companies involved in the disaster | :01:46. | :01:54. | |
have been sparring, since 20th April 10 when it occurred. What we | :01:54. | :02:04. | |
are now have is BP trying to show that Halliburton, which was in | :02:04. | :02:10. | |
charge with cementing the oil well on the sea floor, is trying to show | :02:10. | :02:12. | |
that Halliburton is responsible and should be held financially | :02:12. | :02:19. | |
accountable. How has Halliburton responded? They say that the | :02:19. | :02:24. | |
contracts they had with BP indemnify them. They say they do | :02:24. | :02:31. | |
not have to pay anything because it is the risk of BP, that it was a | :02:31. | :02:36. | |
contract and that it should not be responsible for any cost or damages. | :02:36. | :02:40. | |
That is according to their spokesperson. This has been an | :02:40. | :02:46. | |
ongoing issue. BP has managed to settle claims with some of its | :02:46. | :02:55. | |
other partners and contractors, including people like the petroleum | :02:55. | :03:01. | |
company and also Cameron International Court, which made the | :03:01. | :03:05. | |
blow-out could better. But they still have not come to any | :03:05. | :03:12. | |
agreement with two key players, Halliburton and Transocean. All of | :03:12. | :03:22. | |
:03:22. | :03:23. | ||
this is still subject to about 500 lawsuits, off which which will come | :03:23. | :03:30. | |
before a Federal judge down in New Orleans, beginning in February. -- | :03:30. | :03:38. | |
all of which. 2012 promises to be a big year for Facebook. It will sell | :03:38. | :03:43. | |
shares to the public, raising $10 billion, making it one of the | :03:43. | :03:49. | |
biggest ever American stock offerings. This year, we are taking | :03:49. | :03:56. | |
the next step. The changes introduced by Facebook boss Mon-Sat | :03:56. | :04:04. | |
a boat were be. Another potentially monumental change is around the | :04:04. | :04:14. | |
:04:14. | :04:16. | ||
corner, raising money by selling shares to the public. -- Mark | :04:16. | :04:25. | |
Zuckerberg. They are talking about raising $10 billion for they were | :04:25. | :04:30. | |
ocean of a hundred billion dollars. Google was the biggest I thank you | :04:30. | :04:40. | |
:04:40. | :04:41. | ||
R Road before that, but it was only to be an dollars. - IPO. To be an | :04:41. | :04:51. | |
:04:51. | :04:58. | ||
dollars. $2 billion. But is it worth that much? Howard Friedman | :04:58. | :05:02. | |
advises companies that want to go public. He says flotations can | :05:02. | :05:09. | |
bring headaches. It effects investor relation, strategy, as a | :05:09. | :05:14. | |
public company you are subject to analysts, investors, customers of | :05:14. | :05:20. | |
the company. You have to balance different demands to be successful. | :05:20. | :05:25. | |
Facebook's listing is one of the most anticipated events, not just | :05:25. | :05:30. | |
in Silicon Valley, but also here on Wall Street. But this is no | :05:30. | :05:36. | |
guarantee of success. Some fear that investors still have some | :05:36. | :05:42. | |
doubts about social media listings. But all of that could affect | :05:42. | :05:48. | |
Facebook in 2012. -- and all of that. Some of the other top | :05:48. | :05:58. | |
:05:58. | :05:59. | ||
business stories: brazil's economy powers ahead. -- Brazil. It had a | :05:59. | :06:06. | |
huge surge in the expert -- exports, especially to China. There has been | :06:06. | :06:14. | |
a big slowdown in forcing Airport's economy last year, manufacturer in | :06:15. | :06:20. | |
saw a particular slowdown with output down by more than 20%. The | :06:20. | :06:25. | |
Government is forecasting the weaker economic growth this year. | :06:25. | :06:29. | |
The Czech government says the economy could shrink by 2% this | :06:29. | :06:36. | |
year. Only last month Parliament approved a budget based on growth. | :06:36. | :06:41. | |
The Government blames the European debt crisis for the situation. That | :06:41. | :06:46. | |
debt crisis is taking a heavy toll on the conference of European | :06:46. | :06:53. | |
businesses. That is the result of a recent survey. They surveyed 3,000 | :06:53. | :06:58. | |
businesses across the world. In Europe, confidence plunged in the | :06:58. | :07:04. | |
final months of 2011. In the US, this is thus became as a little | :07:04. | :07:10. | |
more optimistic blast at the end of last year. But the most confident | :07:10. | :07:20. | |
:07:20. | :07:21. | ||
were nations like Brazil and China. These are pretty predictable | :07:21. | :07:27. | |
results? They are predictable. Do you find business leaders you have | :07:28. | :07:33. | |
been talking to have taken the view of the city, for example, the | :07:33. | :07:37. | |
financial institutions, that it rests with the politicians who were | :07:37. | :07:42. | |
talking too much and not taking action stop you vote Yes, business | :07:42. | :07:48. | |
leaders have telling us politics are getting in the way. They want | :07:48. | :07:56. | |
people to resolve the Euro crisis. There is a lot of uncertainty. More | :07:56. | :08:00. | |
concern than the uncertainty. they feel that if politicians are | :08:01. | :08:06. | |
slow off the mark, the city needs to push it to a conclusion. | :08:06. | :08:13. | |
requires a unified effort from all business leaders. Winning the | :08:13. | :08:19. | |
European Union United. We need the ECB guaranteeing sovereign debt. We | :08:19. | :08:24. | |
need all the cities, government are authorities acting together to | :08:24. | :08:31. | |
resolve the crisis. Given that, you will not yet unity. But also, a | :08:31. | :08:37. | |
number of businesses, especially exporters, who have benefited from | :08:37. | :08:44. | |
the crisis. It has pushed up the bottom line. Yes. Major countries | :08:44. | :08:49. | |
like Germany, which export goods and services, says that demand has | :08:49. | :08:55. | |
increased because the euro has dropped. But is these economic | :08:55. | :09:05. | |
:09:05. | :09:07. | ||
divide pushing walk companies towards the bricks States?. Yes, | :09:07. | :09:13. | |
that it -- those are the countries about seeing future growth. Let's | :09:13. | :09:23. | |
:09:23. | :09:31. | ||
look at the financial markets. -- BRICs. You can see there are full | :09:31. | :09:36. | |
day's other activity. Some optimism, perhaps because we had some data | :09:36. | :09:43. | |
coming through from the US, pointing to some signs of firmness. | :09:43. | :09:48. |