Browse content similar to 08/02/2012. Check below for episodes and series from the same categories and more!
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The as are the latest headlines. Welcome. This is World Business | :00:17. | :00:23. | |
Report. The headlines: Optimism that a deal in Greece is near. It | :00:23. | :00:28. | |
sent the Dow Jones to its highest level since May 2008. | :00:28. | :00:32. | |
And an online firm reports its first earnings since listing. | :00:32. | :00:39. | |
Expect scrutiny of its products. The world's biggest mining company | :00:39. | :00:49. | |
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reports a fall in earnings, weaker commodity prices and Global Witness. | :00:50. | :01:00. | |
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It looks like Greece has unleashed a fake gilt we its international | :01:00. | :01:08. | |
credit has. -- reached a deal. Talks last night were described as | :01:08. | :01:12. | |
constructive. It may feel like we have been here before but investors | :01:12. | :01:22. | |
are optimistic. Asia is also higher. The Greek people, on the other hand, | :01:22. | :01:29. | |
are much less positive as anger flared on the streets of Athens. | :01:29. | :01:38. | |
Fresh talks of Greece leaving the euro have ceased. We are in a very | :01:38. | :01:43. | |
decisive moment regarding the future of Greece. We want race in | :01:43. | :01:48. | |
the euro. The European Commission has made it clear from the | :01:48. | :01:56. | |
beginning of this very important talk, not only for Europe Cup but | :01:56. | :02:04. | |
for Greece to be kept in Europe. may hear today or we may not, in | :02:05. | :02:13. | |
terms of the deal being done unlike they have taken a step forward. | :02:13. | :02:16. | |
are inching towards progression and a successful resolution of the | :02:16. | :02:26. | |
talks. There has been ongoing discussion, we are now talking | :02:26. | :02:32. | |
about additional austerity measures. The question is that even if we get | :02:32. | :02:37. | |
all these issues lined up together, we get the great parliamentary | :02:37. | :02:42. | |
parties to agree, the next stage is the more tricky one and that is the | :02:42. | :02:49. | |
implementation. Some of the detail we are hearing about. The European | :02:49. | :02:55. | |
Central Bank is taking a hit on its money it has lined to Greece? | :02:55. | :03:02. | |
may well be the case. The private sector took a substantial write- | :03:02. | :03:08. | |
down. That was half the battle. We needed to consider how some of the | :03:08. | :03:18. | |
official sector, holders of debt, were going to deal with it. They | :03:18. | :03:22. | |
every denomination of those holdings, a reduction - that is | :03:22. | :03:31. | |
good news. But will other official holders be involved? That leaves | :03:31. | :03:39. | |
the Greek population with a burden. Implementation is the real key | :03:39. | :03:43. | |
issue. It is not an easy task because in Greece, as we saw | :03:43. | :03:50. | |
yesterday, the feeling outside the parliamentary building is one of | :03:50. | :03:56. | |
anger and angst about how difficult it is for the average person to | :03:56. | :04:01. | |
make the changes they need to make. The politicians understand the need | :04:01. | :04:05. | |
for the measures but implementing that on the ground is difficult | :04:05. | :04:11. | |
when you're talking about cuts to the minimum wage by 25%. Cutting | :04:11. | :04:19. | |
the deficit. That is incredibly difficult. Being able to drive on | :04:19. | :04:23. | |
the austerity. There is also an election coming and that is quite | :04:23. | :04:30. | |
interesting. They need to not be seen as pro austerity otherwise | :04:30. | :04:35. | |
there will be penalized by the voters. We may get a deal, then the | :04:35. | :04:40. | |
real problems start and then you have the progressive process of the | :04:40. | :04:45. | |
lenders coming back to Greece on a regular basis and determining | :04:45. | :04:55. | |
whether that is being met. That flow of money. On a daily basis, we | :04:55. | :05:05. | |
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have been saying, if we have any more detail, we will let you know. | :05:06. | :05:10. | |
The company will be carefully scrutinised. The business model may | :05:10. | :05:17. | |
not be sustainable. Having seen the firm growth. The share prices has | :05:17. | :05:21. | |
been disturbed thanks to be spot light cast on social media | :05:21. | :05:26. | |
companies. They call it collective buying | :05:27. | :05:33. | |
power. If enough people signed up... Signing up in large number to get | :05:33. | :05:40. | |
large discounts. It has taken off in the last four years. The company | :05:40. | :05:43. | |
floated on the stock market in November. Stephen Spencer says he | :05:43. | :05:48. | |
still sees lots of potential for this new business in an | :05:48. | :05:52. | |
increasingly mobile world. If the majority of the population is | :05:52. | :05:57. | |
walking around with a smart phone, and we have this relationship, | :05:57. | :06:05. | |
there will be an ability to deliver the deals to people. If they are | :06:05. | :06:11. | |
able to take advantage of that, that will be what accelerates in | :06:11. | :06:17. | |
the next couple of years. It has generated a lot of revenue. The | :06:17. | :06:22. | |
question is how much profit they make on their sale. Its explosive | :06:22. | :06:27. | |
growth a mind for the ills like this one has begun to slow. -- | :06:27. | :06:34. | |
growth online. Just so many customers has the business had, how | :06:34. | :06:40. | |
often do they bind the deals, how much do they spend. The biggest | :06:40. | :06:50. | |
competitor, reportedly lost $500 million last year. A fortune on | :06:50. | :06:55. | |
advertising also has had to be spent. The new number of repeat | :06:55. | :07:00. | |
customers as a percentage is slowing. The momentum is slowing. | :07:00. | :07:10. | |
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In order to answer the critics, if they can drive costume are | :07:11. | :07:15. | |
earning,... Facebook is launching on the stock market, everyone is on | :07:15. | :07:24. | |
the lookout for another take boom and bust. -- technology boom and | :07:24. | :07:34. | |
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bust. A fall reported fought two years. We say of four - it is | :07:36. | :07:39. | |
important I lost some money but they are still making a huge | :07:39. | :07:46. | |
amount? Absolutely. Still a lot of money. | :07:47. | :07:52. | |
It may be the first decline since 2009 but according to analysts, the | :07:52. | :07:59. | |
numbers are still Stella., tea prices, the European debt crisis, | :07:59. | :08:04. | |
analysts say BHP is still a different league from its would-be | :08:04. | :08:09. | |
rivals. The 6% drop in profits, they still made more cash profits | :08:09. | :08:19. | |
in six-month then the 90 million dollar marriage of commodities. And | :08:19. | :08:29. | |
from far fewer revenues. Relatively low cost base and diverse range of | :08:29. | :08:35. | |
high quality, long-life assets have outweighed market concerns. The | :08:35. | :08:41. | |
chief executive said he was less worried now than late last year | :08:41. | :08:49. | |
about the sovereign debt crisis in Europe. He saw China's insatiable | :08:49. | :08:59. | |
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demand for iron ore. The American internet firm year who | :09:04. | :09:12. | |
has seen a shake-up. For executives have stepped down. Many | :09:12. | :09:18. | |
shareholders blame them for the fall in share prices. A 47 billion- | :09:18. | :09:26. | |
dollar takeover from Microsoft was rejected in 2007. | :09:26. | :09:34. | |
The net income rose 4% in the final three months of last year. The firm | :09:34. | :09:38. |