09/01/2012 World Business Report


09/01/2012

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next month. Those are the latest headlines. We have the latest

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financial news on World Business Report. This is World Business

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Report. The headlines: Made in the trade, the U-turn in US motor

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industry fortunes. -- Detroit. Rolls Royce announce record sales.

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Arlyn best considers selling its executives after an accounting

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cover up. -- Olympus. 2011 was a tale of two motor industries, in

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the East, Japan's auto giants had one of the worst year in their

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history. There was the tsunami in Japan and the flooding in Thailand.

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US mated giants have fought back from the brink of bankruptcy. --

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motor giants. We have been to the International Auto Show. General

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Motors is going after a new customer, younger and more upmarket.

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This is meant to compete with BMW and Mercedes-Benz. The only cars

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that have achieved consistent success are European cars. GM has

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performed well since declaring bankruptcy. Consumers have grown

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more confident. General Motors boss says GM has a new impetus.

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company is in the best shape it has been in a generation or two. We are

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producing products that are world class. If that keeps happening we

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will build momentum. GM does need a flagship in the competitive luxury

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sector. You have to be competitive in small sporty sedans. We need to

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hit a home run in this area. does not same worry yet. -- seemed

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worried yet. We have got some great products and new models we are

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launching right across the world. I have every intention of keeping on

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top of our opposition. These are the type of vehicles that German

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manufacturers have always been so good at making first-up GM wants a

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-- making. GM wants a new flagship to show how far the company has

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come. Rolls Royce has reported the highest sales in its 107 year

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history. It has been boosted by sales in Asia. It is doing well in

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traditional markets like the US. We are joined by the chief executive.

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Good to have you on the programme. Last year was a year of financial

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turmoil. You sold more cars than ever, how did you do that? We are

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happy we did that. I am sure you are of. Out target group are

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forecast to grow over the next couple of years. -- our. It is good

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for the factories that make them in the UK. We are talking about luxury

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goods, these individuals untouched by the day-to-day turmoil that the

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rest of us are enduring? They are not untouched. But you buy a Rolls

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Royce when you want to reward yourself for certain achievements.

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There has been a lot of positive stories around. Many of our

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customers have employed a lot of people and have set themselves

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targets and they have gone for a Rolls Royce. People like

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footballers... We have a broad variety of different customers.

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had he managed to change the image of Rolls raised? -- have you

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changed. -- Rolls Royce. It has changed dramatically. We have

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succeeded to see a lot more people in our cars. The average age in the

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Asia markets is between 30-40. A lot of these typical self-

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entrepreneurs sitting behind the wheel... We have also seen a 10%

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increase in women drivers. Once you have one in your driveway, you do

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not need another one for a long time. They are very reliable

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vehicles. I think we will see extra growth with these high worth

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individuals. I think there is untapped potential in the market.

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We should see another record here in 2012. If you manage to achieve

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that will speed see you again. Best sales in 107 years for Rolls Royce.

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A Olympus executive is being sued by the board of directors... The

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camera company says it is considering legal proceedings

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against its current and former directors. This comes after the

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company receives its results in two management responsibility into the

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scandal. On Sunday we saw the news agencies reporting the

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investigation panel had named the current chief executive, he has

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been president since October, as one of ten people who were

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responsible for failing to prevent the scandal. Four executives have

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already lost their jobs over the scandal. The company has said it

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will announce more details about the report on Tuesday. Thank you.

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We will have a better idea of whether investors have got improved

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confidence in this Italian bank... Investors had been spooked by the

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hefty discount on offers for the new shares. Bank shares overall,

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highly undesirable right now. In fact, they are trading beneath a

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book value. The accountants say the bank is worth more dead than alive.

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You could sell all of the pieces of the Bank and collect more money

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than what the value is. We know that is not true. What happens, the

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banks overvalue their own credit. There is a lack of credibility

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between the management of banks and their owners. That is something

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investors will be watching today. In Asia, losses for three days in

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trading. Some of the issues, the Prime Minister of India has spoken

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about the economic outlook for India. The Australian consumer is

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feeling the pinch as well. Angela Merkel and Nicolas Sarkozy will get

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