:00:07. > :00:16.of the Roma people are involved with criminal activities. It is
:00:16. > :00:23.time for World Business Report. This is World Business Report.
:00:23. > :00:30.Unemployment figures for Europe marked a deepening Nov-south divide.
:00:30. > :00:40.Germany booms, Spain is in trouble. -- north-south. Samsung says it
:00:40. > :00:46.
:00:46. > :00:55.expects a record 4th quarter. Markets await US employment numbers.
:00:55. > :00:58.Rising joblessness in Europe will be a continuing theme this Friday
:00:58. > :01:03.as Brussels publishes official job figures for the region in a couple
:01:03. > :01:11.of hours. One in ten people in the eurozone are out of a job. That
:01:11. > :01:21.marks a widening north-south divide. Job prospects continue to worsen
:01:21. > :01:22.
:01:22. > :01:32.away from the continent's more than call. -- northern core. It is a
:01:32. > :01:38.tale of two Europes. One in five in Spain are unemployed. Unemployment
:01:38. > :01:48.is at a 20-year low in Germany. At 6.8% it is still falling. 500,000
:01:48. > :02:00.
:02:00. > :02:07.jobs have come on stream this year. France has put his unions on notice
:02:07. > :02:16.of changes to social welfare benefits. -- its unions. The lowest
:02:16. > :02:24.unemployment rates are in northern Europe. These countries have AAA
:02:24. > :02:29.rating economies. By contrast, Nations on the periphery have made
:02:29. > :02:36.if you labour market reforms. Business organisations say
:02:36. > :02:40.potential employers need more incentives. Europe is based on
:02:40. > :02:46.growth and solidarity. At the moment we do not have a grave. How
:02:46. > :02:55.can we maintain the solidarity if we do not manage growth? The main
:02:55. > :02:59.priority at the moment is to optimise the money and take big
:02:59. > :03:07.response for labour laws in order to make it more attractive for
:03:07. > :03:10.companies to make jobs. The crisis will be borne by the loss of five
:03:10. > :03:19.and those whose wages and livelihoods are most affected by
:03:19. > :03:24.continuing austerity measures. Samsung says it made record profits
:03:25. > :03:34.in the last three months. Up more than 70% on the previous year. That
:03:35. > :03:36.
:03:36. > :03:41.is due to them in sales of smart phones. It overtook Apple. We can
:03:41. > :03:51.go to Singapore with the story. It is generating quite a bit of
:03:51. > :03:52.
:03:52. > :04:00.excitement? Indeed, Samsung is. It says its profits are going to jump
:04:00. > :04:05.73%. That is from October until December. Driven by the highest
:04:05. > :04:10.ever smart phone sales it has experienced. Samsung releases its
:04:10. > :04:20.official results later this month. Preliminary numbers have topped
:04:20. > :04:27.
:04:27. > :04:37.estimates, but the company still faces some charges. -- challenges.
:04:37. > :04:41.
:04:41. > :04:49.It is in many legal cases with Apple. Its rivals are something of
:04:49. > :04:54.a client. Apple users Samsung chips in some of its products. There have
:04:54. > :05:03.been concerns about the long-term profitability of its TV division.
:05:03. > :05:08.That has not been doing so well. Earlier, I spoke to someone who
:05:08. > :05:13.said Samsung as strong momentum going into this year. Their
:05:13. > :05:23.momentum is going to continue. They will diversify from the Android
:05:23. > :05:28.
:05:28. > :05:38.platform. Enjoy it has its own challenge us. -- Android. What we
:05:38. > :05:39.
:05:39. > :05:43.are seeing with Samsung is something of a paradigm shift. Its
:05:43. > :05:53.chief executive is encouraging the company to be more innovative. That
:05:53. > :05:54.
:05:54. > :06:04.is in part reflected of the legal battles it is having with Apple.
:06:04. > :06:04.
:06:04. > :06:08.Innovation is what drives products. Thank you. Back to the issue of
:06:08. > :06:15.unemployment. We turn to the US where the jobless market has been
:06:15. > :06:20.slowly improving. With fewer Americans claiming unemployment
:06:20. > :06:27.benefits last week, hopes are rising high that the growth will
:06:27. > :06:33.continue. It will be watched on Wall Street and in the White House.
:06:33. > :06:38.The pace may not be anything to write home about. America's lay the
:06:38. > :06:43.picture is improving. On average 130,000 jobs were created each
:06:43. > :06:52.month. The popularity of these backpacks is helping the company
:06:52. > :06:56.that makes them expand. The founder says they have doubled their staff
:06:56. > :07:03.over the past fears and they are not done hiring just yet. There is
:07:03. > :07:13.demand around the world. Our business is growing rapidly
:07:13. > :07:17.
:07:17. > :07:22.overseas, in Europe, Asia and China. This is one of their recruitment.
:07:22. > :07:31.had a chance meeting with the vice- president of product development. I
:07:31. > :07:35.was given a chance. I worked six months before I was hired for time.
:07:35. > :07:40.It is not just the makers of these toys that are hiring. Retailers and
:07:40. > :07:45.manufacturers have been taking on more staff. Have we reached a
:07:45. > :07:48.turning point? With modest economic growth forecast for this year, the
:07:48. > :07:54.pace for a job creation is not enough to bring down the
:07:54. > :07:58.unemployment rate, which remains at an unacceptably high level. This
:07:58. > :08:04.slow rate of recovery will not be much comfort to the millions of
:08:04. > :08:10.Americans still searching for work. Or to President Obama who faces re-
:08:10. > :08:19.election this November. If it continues it will be a modest class
:08:19. > :08:26.for the President. I doubt you'll be in an environment where the
:08:26. > :08:34.economic outlook is an advantage for the President. The lack of any
:08:34. > :08:39.bad news maybe the best news of all. The head of Switzerland's Central
:08:39. > :08:46.Bank has vowed not to resign despite uproar over currency
:08:46. > :08:56.trading by his family. He conceded he had made mistakes that denied
:08:56. > :09:00.
:09:00. > :09:10.wrongdoing and suggested political motives were at work. His wife
:09:10. > :09:10.
:09:10. > :09:20.bought $500,000 of American dollars, there were accusations of insider
:09:20. > :09:33.
:09:33. > :09:38.trading. Let's take a look at what has been happening on the markets.