01/03/2012 World Business Report

passengers. -- way each wheel. Oh You're watching the World Business

Report on BBC. The headlines: Google defies opposition from

customers and watchdogs to launch new privacy settings. And a default,

what to a fault, international money market losses wonder what the

Greek debt means for creditors. A bribery scandal. -- it bosses. Good

or be allowed to Paul use the information from different

platforms from YouTube to Gmail. It will target content for users. It

has concerned privacy advocates and whose they eat well sets a

dangerous precedent for prelacy settings on the internet -- who say

eat well set. Google is creating a new set of tricks hoping to attract

advertisers like this man with better information about online

users. I have been using Google for three years. Outside of word-of-

mouth I find it to be the most successful way to bringing

potential clients. If you used your e-mail every day, or in fact, any

of the free 63 services from Jim -- from Google, you will have your

information gathered by the into a giant. It will give Google a begat

picture of its clients to give them more information. The change has

angered privacy advocates. While good goal rakes in half of US Web

advertising, it is now battling Facebook for dominance -- while

Google. Google has seen that Facebook is their biggest threat to

their dominance on the online advertising business. More data

could hold good goal win more clients. Users may even find it

helpful -- Google. The air is a pay-off for users. These data shows

that we will get better part out. The $200 billion US advertising

market is increasingly going online. Google may have come late to the

data collection game, but it wants to make an impact. The world's most

powerful bankers will meet today to discuss whether Greece can default

on its debts. Government bonds had to write off billions of dollars of

debt because of a deal with lenders. Their roles that there has been a

technical default or recruited a event, then creditors will be able

to claim $3 billion of insurance or credit to fault swabs, to fix their

losses. We are joined by a consultant to make this clear. Will

this ruling say that there was a technical default today? A lot of

people are hoping that the ruling will be annulled. Basically the

current appreciation that will be debt restructuring to avoid it

austerity. There are some organisations that have bought his

insurance and they feel that they are owed some money. That is what

this ruling is about. If they were to rule yes, there was a technical

default on a credit event, what would happen then? The immediate

effect would be that they have lost values on the bonds and would be

able to claim insurance. They would get some of their money back. Most

of the banks would have to pay out. This could be quite a large sum of

money. You would hope that banks set aside the funds for these.

There is a worried that those who provided the insurance, whether it

be banks of financial institutions, if they sold a lot of that

insurance and they have to pay out, they could go under? That is one

worry. It complicates the Greek bail-out. It has been put together

on the basis of these contracts. We know exactly who holds these Greek

bonds. It blows it out into the open again and there is the

possibility that there is not a decision that they will postpone it.

Is this a black cloud hanging over the great story or receipt

something that will have bigger consequences -- Greek story or her

is it something. It does not Eimear affect large financial institutions

but those people who have funds in these institutions. The parent

group of American Airlines lost to wonder and $34 million in January.

The top expense was a few all. A Amar is locked in tanks with pilots

who have lost 13,000 jobs to restore his probability. 500

billion reasons to be happy. The most valuable country in the wild

is even more valuable, Apple topped $500 billion in the stock market.

Asian news now and in Hong Kong beat executive is that the centre

of a bribery scandal. What is going The chief executive, who is a top

official in the City faces a grilling by lawmakers in the

Legislative Council very soon. This is a special question. He will be

grilled about a recent trip he talk to make cow which is close to Hong

Kong. He was photographed enjoying a lavish banquet on a lavish yacht

with business tycoons. He will also be asked about recent trips on

private jets and his retirement home, a luxury penthouse in China.

The allegation is that he has benefited from his dealings,

benefits said unfairly, with these tycoons. Lawmakers want to see what

he will say in response to that. He has said before that he is paying a

rate for the services. We will have to see how he answers these charges.

There is a feeling that if he does not satisfy lawmakers, some people

will initiate any impeachment process to remove him from office.

Restoring stability and the credibility of the he's the aim of

the EU's summit which starts in Brussels today after years of

economic crisis and a new bail-out for Greece. It is hoped that they

will focus on creating jobs and growth. This is a summit that has

not got an immediate crisis hanging over its head? Absolutely not. 24

out of 26 endorsed the fiscal passage -- package. You can have a

lot of platitudes coming out about growth and employment and the sort

of thing. The answer is that it is in the politicians' hands. Apart

from the usual monetary problems and fiscal policy, and various

fiscal stimulation packages. The fact remains that it is about

confidence. If the world at large gets its act together in terms of a

uniform at idea of how it would deal with things, rather than

leaping from one process to another. Back to Brussels, back to Rome and

still no further agreement on it. You would not restore confidence. I

promise you that it is not magic, if that manage to happen and they

get that many -- message across. In the United States, there is a clear

sign that the economy is struggling to get back on its feet. India and

a shower of people laugh. -- a sharp and eight Jacques are oft the

chopping block. -- Asia. We were taught you in a few minutes. --

week we'll talk. Let's look at the Asian markets. An improvement for

China in the third straight month in a row. This has improved

sentiment. These markets have had a very good run for quite some time.