18/01/2012 World Business Report

given a month to toe the line. Now it is time for World Business

Report. The headlines: Another acting in the Greek tragedy. The

government tries to reach a deal with private bondholders that could

shave at $125 billion from its debt. Nicolas Sarkozy meets to discuss

job creation and growth. Samsung Electronics denies reports

it is interested in taking over Research In Motion, the makers of

the BlackBerry. Or critical talks between the Greek government and

its private lenders resume today as they tried to hammer out a deal on

writing off 50% of their debt. The Prime Minister has warned that

if an agreement is not reached, the country could default in March. Our

correspondent joins us from Athens. You hope will these talks will end

in a deal today? I hope they will end in agreement, given the down

side of a non agreement. I hope that people will reach a conclusion.

What is the worst case scenario? There are a couple of different

possible outcomes. Given that a lot of these bonds are region under

Greek law, they can change the law. They can add a clause that forces

everyone to accept the changes or they can change them in any other

way that makes sense. That is one possible outcome. The impact would

be that it would trigger the market and that would take us to a

different level. The worst possible outcome is where Greece says, we

cannot pay and defaults on its debts. That will have a lot of

replications. For those private bondholders the other possibilities

are a lot worse than an agreement, even if it is a low interest rate

on their long-term investment? believe so. And I think that is why

you see Germany and the IMF applying a bit of pressure. Thank

you for joining us live from Athens. Later today, French President

Nicolas Sarkozy meets unions to discuss employment and

competitiveness. He wants to look at Labour reforms to reinvigorate

the French economy rather than another austerity plan. He hopes to

pass a bill before facing an election in April. Our

correspondent reports. The first President to lose the country's

precious AAA rating. It has been a dark week for Nicolas Sarkozy. But

today the French President, still not officially a candidate, will

fight to restore the image of France and his own image in the

eyes of the French voters. TRANSLATION: It is a challenge and

we must face it. We must resist and fight, show courage and cold-

blooded best. You do not respond to a crisis of this size by letting

yourself get carried away or creating an ordeal. Today the

President will meet with employers and union leaders to talk jobs and

growth. The focus in cutting employment charges to make small

and medium businesses more competitive. The hourly cost of

labour in France has swung since the year 2000 from being 8% cheaper

than in Germany to being 10% more expensive. The government is

offering several solutions. A comprehensive plan to retrain the

unemployed. Legislation to increase value added tax is in the process.

-- in the pipeline. The sudden rush underlines the growing concern

about unemployment. Poles suggested is the single largest concern of

voters. -- polls suggest. Any reforms put forward by the

government can barely be in manifesto form with only one month

of this Parliament left around. But the President is pushing hard for

change. BBC News. Samsung is making the headlines again. The latest

from Singapore. Tell us about the speculation that Samsung was trying

to buy BlackBerry. Apparently they are saying they are not interested.

On it has been confirmed they are not interested in taking over

Research In Motion. A Samsung spokesman said they had

not been approached for takeover and did not in any way consider

acquiring the company. The rumours started when a website cited

unspecified sources saying that they Chief Executive was meeting

with unspecified sources. I know which caused share prices to

go all over the place, back from a. The latest twist in the legal

battle between Samsung an Apple - what is happening? It continues.

Apple has filed another suit in Germany seeking a sales ban of

Samsung smartphones, including galaxy. This adds to the legal

conflict between the two firms. Apple accused Samsung of copying

its products. The action was filed in Dusseldorf. Both companies have

filed patents suits against each other with Samsung failing to win a

battle on the iPhone for his in Italy and France. Thank you.

Goldman Sachs or publishing their fourth-quarter earnings today. The

lower investment banking and trading fees resulted in a drop in

profit. Our correspondent reports. The party is over. Since the

financial crisis Goldman Sachs has become a symbol of excess, taking a

beating from lawmakers and investors. Its profits have also

taken a hit, suffering a rare third quarter loss last October. The

final months of this year are not expected to be much brighter.

Market volatility sparked by the European debt crisis has eroded the

capability of Goldman Sachs to make money. On a more people are scared

to make deals, the less profitability there is in that

business. Since the financial crisis the firm

has been going through a transition period. Where will future growth

come from? Macquarie capital believe that is one of the biggest

challenges facing Goldman's management. Companies like Goldman

Sachs will be required to keep more capital and be subject in any

activity restrictions. They do not exactly advertise, but these are

the headquarters of Goldman Sachs, one of the world's top investment