:00:06. > :00:16.next month. Those are the latest headlines. We have the latest
:00:16. > :00:16.
:00:16. > :00:23.financial news on World Business Report. This is World Business
:00:23. > :00:33.Report. The headlines: Made in the trade, the U-turn in US motor
:00:33. > :00:34.
:00:34. > :00:40.industry fortunes. -- Detroit. Rolls Royce announce record sales.
:00:40. > :00:50.Arlyn best considers selling its executives after an accounting
:00:50. > :00:59.
:00:59. > :01:04.cover up. -- Olympus. 2011 was a tale of two motor industries, in
:01:04. > :01:12.the East, Japan's auto giants had one of the worst year in their
:01:12. > :01:16.history. There was the tsunami in Japan and the flooding in Thailand.
:01:16. > :01:26.US mated giants have fought back from the brink of bankruptcy. --
:01:26. > :01:30.
:01:30. > :01:36.motor giants. We have been to the International Auto Show. General
:01:36. > :01:43.Motors is going after a new customer, younger and more upmarket.
:01:43. > :01:51.This is meant to compete with BMW and Mercedes-Benz. The only cars
:01:51. > :01:56.that have achieved consistent success are European cars. GM has
:01:56. > :02:06.performed well since declaring bankruptcy. Consumers have grown
:02:06. > :02:15.more confident. General Motors boss says GM has a new impetus.
:02:15. > :02:22.company is in the best shape it has been in a generation or two. We are
:02:22. > :02:28.producing products that are world class. If that keeps happening we
:02:28. > :02:38.will build momentum. GM does need a flagship in the competitive luxury
:02:38. > :02:42.
:02:43. > :02:52.sector. You have to be competitive in small sporty sedans. We need to
:02:53. > :02:54.
:02:54. > :02:59.hit a home run in this area. does not same worry yet. -- seemed
:02:59. > :03:05.worried yet. We have got some great products and new models we are
:03:05. > :03:13.launching right across the world. I have every intention of keeping on
:03:13. > :03:21.top of our opposition. These are the type of vehicles that German
:03:21. > :03:28.manufacturers have always been so good at making first-up GM wants a
:03:28. > :03:36.-- making. GM wants a new flagship to show how far the company has
:03:36. > :03:43.come. Rolls Royce has reported the highest sales in its 107 year
:03:43. > :03:51.history. It has been boosted by sales in Asia. It is doing well in
:03:51. > :03:55.traditional markets like the US. We are joined by the chief executive.
:03:55. > :04:02.Good to have you on the programme. Last year was a year of financial
:04:02. > :04:12.turmoil. You sold more cars than ever, how did you do that? We are
:04:12. > :04:13.
:04:13. > :04:22.happy we did that. I am sure you are of. Out target group are
:04:22. > :04:29.forecast to grow over the next couple of years. -- our. It is good
:04:29. > :04:33.for the factories that make them in the UK. We are talking about luxury
:04:33. > :04:40.goods, these individuals untouched by the day-to-day turmoil that the
:04:40. > :04:47.rest of us are enduring? They are not untouched. But you buy a Rolls
:04:47. > :04:53.Royce when you want to reward yourself for certain achievements.
:04:53. > :04:56.There has been a lot of positive stories around. Many of our
:04:57. > :05:02.customers have employed a lot of people and have set themselves
:05:02. > :05:12.targets and they have gone for a Rolls Royce. People like
:05:12. > :05:17.
:05:17. > :05:24.footballers... We have a broad variety of different customers.
:05:24. > :05:34.had he managed to change the image of Rolls raised? -- have you
:05:34. > :05:39.changed. -- Rolls Royce. It has changed dramatically. We have
:05:39. > :05:46.succeeded to see a lot more people in our cars. The average age in the
:05:46. > :05:55.Asia markets is between 30-40. A lot of these typical self-
:05:55. > :06:02.entrepreneurs sitting behind the wheel... We have also seen a 10%
:06:02. > :06:06.increase in women drivers. Once you have one in your driveway, you do
:06:06. > :06:16.not need another one for a long time. They are very reliable
:06:16. > :06:25.vehicles. I think we will see extra growth with these high worth
:06:25. > :06:32.individuals. I think there is untapped potential in the market.
:06:32. > :06:42.We should see another record here in 2012. If you manage to achieve
:06:42. > :06:45.
:06:45. > :06:55.that will speed see you again. Best sales in 107 years for Rolls Royce.
:06:55. > :06:59.
:06:59. > :07:03.A Olympus executive is being sued by the board of directors... The
:07:03. > :07:10.camera company says it is considering legal proceedings
:07:10. > :07:14.against its current and former directors. This comes after the
:07:14. > :07:24.company receives its results in two management responsibility into the
:07:24. > :07:26.
:07:26. > :07:34.scandal. On Sunday we saw the news agencies reporting the
:07:34. > :07:44.investigation panel had named the current chief executive, he has
:07:44. > :07:44.
:07:44. > :07:52.been president since October, as one of ten people who were
:07:52. > :07:56.responsible for failing to prevent the scandal. Four executives have
:07:57. > :08:04.already lost their jobs over the scandal. The company has said it
:08:04. > :08:14.will announce more details about the report on Tuesday. Thank you.
:08:14. > :08:22.We will have a better idea of whether investors have got improved
:08:22. > :08:32.confidence in this Italian bank... Investors had been spooked by the
:08:32. > :08:35.
:08:35. > :08:45.hefty discount on offers for the new shares. Bank shares overall,
:08:45. > :08:45.
:08:45. > :08:53.highly undesirable right now. In fact, they are trading beneath a
:08:53. > :08:58.book value. The accountants say the bank is worth more dead than alive.
:08:58. > :09:07.You could sell all of the pieces of the Bank and collect more money
:09:07. > :09:15.than what the value is. We know that is not true. What happens, the
:09:15. > :09:21.banks overvalue their own credit. There is a lack of credibility
:09:22. > :09:29.between the management of banks and their owners. That is something
:09:29. > :09:36.investors will be watching today. In Asia, losses for three days in
:09:36. > :09:43.trading. Some of the issues, the Prime Minister of India has spoken
:09:43. > :09:48.about the economic outlook for India. The Australian consumer is
:09:49. > :09:51.feeling the pinch as well. Angela Merkel and Nicolas Sarkozy will get