Browse content similar to 30/01/2012. Check below for episodes and series from the same categories and more!
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five lorries were involved in the pile-up, which left another 18 | :00:01. | :00:06. | |
people injured. Now it is time for World Business | :00:06. | :00:16. | |
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Report. The headlines: France's financial | :00:20. | :00:24. | |
sector will be hit by a trading tacks in August if President | :00:24. | :00:34. | |
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Sarkozy can rush his plans through Parliament. | :00:34. | :00:41. | |
you are's biggest electronics firm struggles with the downturn. -- | :00:41. | :00:51. | |
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Europe's. He may only have two weeks left in | :00:54. | :00:59. | |
power, but Nicolas Sarkozy went on the offensive on Sunday night. The | :00:59. | :01:02. | |
French President announced a collection of measures that he | :01:02. | :01:05. | |
hopes will boost the economy and boost his re- election chances if, | :01:05. | :01:12. | |
as expected, he returns. Among the measures announced last night he | :01:12. | :01:16. | |
confirmed plans to go through with a financial transaction tax. It | :01:16. | :01:20. | |
would be set at a rate of 0.1%. There is not much detail, but it is | :01:20. | :01:24. | |
thought it would be applied to share trading only and not bonds. | :01:24. | :01:31. | |
He said that the nation's sales tax would rise to a little over 21%. | :01:31. | :01:41. | |
Companies with more than 250 staff will have to take on interns up to | :01:41. | :01:48. | |
5% of their workforce. TRANSLATION: We hope that it will raise 1 | :01:48. | :01:52. | |
billion euros per year for the government budget. It is obvious | :01:52. | :01:57. | |
that as soon as Europe adopt such a tax we will join that group. What | :01:57. | :02:06. | |
we want is to provoke growth and set an example. Good morning. If | :02:06. | :02:16. | |
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this works and not, he has to rush it through Parliament -- works out. | :02:17. | :02:23. | |
If it went ahead, tell us about how this would work? Is its similar to | :02:23. | :02:29. | |
stamp duty in the UK? Yes, we already have 0.5% stamp tax duty on | :02:29. | :02:33. | |
share purchases. He is talking about creating a shock throughout | :02:33. | :02:43. | |
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Europe.... It is quite a limited tax, purely on share trading. A | :02:46. | :02:50. | |
cross in London we do far greater volumes of share trading than Paris | :02:50. | :02:55. | |
does. Talking about it in terms of income, it seems strange, because | :02:55. | :02:59. | |
there is not that volume there, unless you broaden it to other | :02:59. | :03:04. | |
areas. Presumably from his point of view he is thinking he will win | :03:04. | :03:07. | |
over some voters in France who are quite angry about what is happening | :03:07. | :03:11. | |
in the financial sector and the implications on the economy? | :03:11. | :03:19. | |
have already heard Angela Merkel talking about this. It would have a | :03:19. | :03:25. | |
mild impact overall. The battle really is whether you would really | :03:25. | :03:32. | |
like to reform all tax levies... That would cover everything from | :03:32. | :03:36. | |
foreign exchange through to all forms of transactions and have a | :03:36. | :03:41. | |
tax on those things. That was the tax that David Cameron was against, | :03:41. | :03:47. | |
wasn't he? And other EU summit today, the first of the year. Your | :03:47. | :03:50. | |
expectations? So we are going through it again. Will they reach | :03:50. | :03:57. | |
an agreement? We know how the euro has to run, and so do the | :03:57. | :04:02. | |
politicians. But in the words of a famous politician - we know what to | :04:02. | :04:06. | |
do, we just don't know how to get re-elected afterwards. It is | :04:06. | :04:12. | |
actually about making sure you have harmonising tax systems. That is | :04:12. | :04:18. | |
very difficult - look at the issues in Greece at the moment. | :04:19. | :04:22. | |
Looking at today's papers. That news from the Royal Bank of | :04:22. | :04:32. | |
Scotland's boss is prominent. The markets have reopened in China | :04:32. | :04:38. | |
following a week long break to celebrate the Year Of the Dragon. | :04:38. | :04:43. | |
It is trading again. What are the expectations? | :04:43. | :04:49. | |
The expectation is that there is still a lot of uncertainty in the | :04:49. | :04:52. | |
Asian stock market as they start their full week of trading after | :04:52. | :04:58. | |
the Chinese New Year. It was slower than expected. Slow growth in the | :04:58. | :05:03. | |
United States. Uncertainty about their ability to resolve Greece's | :05:03. | :05:06. | |
debt crisis, that is weighing on investor sentiment across the | :05:06. | :05:13. | |
region. You mentioned China - its markets are currently mixed after | :05:13. | :05:18. | |
being closed for a full week. Japan, Korea, Hong Kong, Singapore and | :05:18. | :05:22. | |
Australia are all in negative territory. Taiwan and New Zealand | :05:22. | :05:26. | |
are showing some resilience this Monday. Traders say growth in Asia | :05:26. | :05:32. | |
will continue in 2012 amid strong domestic consumption. There are | :05:33. | :05:35. | |
moves from many central banks to cut interest rates with prices | :05:35. | :05:39. | |
easing. There are plans to stimulate respective economies. The | :05:39. | :05:49. | |
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big question is - by how much will be economies expand? Economists say | :05:53. | :05:56. | |
it is very difficult to make a forecast until there is a clear | :05:56. | :06:00. | |
sign that Europe's debt turmoil is heading to a resolution. | :06:00. | :06:04. | |
Briefly tell us about Mitsubishi Electric's shares, they were very | :06:04. | :06:11. | |
high today? Yes. The government of Japan has | :06:11. | :06:19. | |
banned one of the country's biggest companies from competitive bidding. | :06:19. | :06:22. | |
They say Mitsubishi over charges for some defence and aerospace | :06:22. | :06:26. | |
contracts. Mitsubishi Electric, whose businesses include factories | :06:26. | :06:33. | |
in Britain, electronics and satellite, charge as much as 50% | :06:33. | :06:38. | |
over and above... The government has prevented Mitsubishi Motors | :06:38. | :06:42. | |
from doing this and will take preventative measures. | :06:42. | :06:48. | |
You are's biggest electronics manufacturer, Phillips, is about to | :06:48. | :06:56. | |
announce its results for 2011 -- Europe's the managing director has | :06:56. | :06:58. | |
said that the crisis has hit sales hard. | :06:58. | :07:07. | |
Philips of Holland is one of Europe's leading electronics giant. | :07:07. | :07:17. | |
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Europe's debt crisis has made them nervous. Phillips is cutting 4,500 | :07:17. | :07:23. | |
jobs. Its television division has lost so much money it is in the | :07:23. | :07:26. | |
middle of being bought by a company in Hong Kong. Phillips is in the | :07:26. | :07:29. | |
process of changing the focus of its business, concentrating less on | :07:29. | :07:36. | |
consumer items and more on things like this are a scanner, another | :07:36. | :07:43. | |
complex but important item of hospital equipment -- eyeball. | :07:43. | :07:46. | |
Sales of his advanced technology is going well in Asia and the United | :07:46. | :07:51. | |
States. It is a different story in Europe. The debt crisis means that | :07:51. | :07:55. | |
budgets in public health systems are under pressure. Hospitals are | :07:55. | :07:58. | |
delaying spending if they have pressure on budgets. We are seeing | :07:58. | :08:05. | |
pressure because a lot of these budgets are funded by government. | :08:05. | :08:11. | |
We will see delays in new equipment being installed. Philips products | :08:11. | :08:16. | |
have changed a lot since it was set up a hundred and 20 years ago. It | :08:16. | :08:21. | |
then made light bulbs and is now the world's biggest manufacturer of | :08:21. | :08:27. | |
them. It is always installing its L e d bulbs in public spaces, | :08:27. | :08:32. | |
including here, outside Buckingham Palace. A light may be bright, but | :08:32. | :08:37. | |
the prospects for Europe's manufacturers are not. Siemens | :08:37. | :08:40. | |
warned that 2012 would be a hard year. Companies are likely to | :08:40. | :08:43. | |
remain under pressure for as long as the continent's consumers and | :08:43. | :08:49. | |
government are unable or unwilling to spend money. | :08:49. | :08:53. | |
The chief executive of the Royal Bank of Scotland will not take a | :08:53. | :08:59. | |
bonus worth almost a million pounds. RBS is largely owned by the | :08:59. | :09:03. | |
taxpayer, and the bonus caused huge political controversy. We will be | :09:03. | :09:06. | |
talking about that in about five minutes. | :09:06. | :09:10. | |
Ryanair reports its latest quarterly results this morning. | :09:10. | :09:13. | |
Earlier this month it announced it will create more than 1,000 jobs | :09:13. | :09:20. |