:00:16. > :00:19.News. Now for the latest financial news with World Business Report.
:00:19. > :00:22.Hello and welcome to World Business Report. Spain's economy minister
:00:22. > :00:32.says a bailout is not on the table, despite another punishing day on
:00:32. > :00:36.
:00:36. > :00:39.the bond markets. The sands and Hess boosted its quarterly profits
:00:39. > :00:42.due to increased demand for a smart phones and tableaux at computers.
:00:42. > :00:52.Plus, US employers may have hired another 200,000 people in March,
:00:52. > :00:55.rounding off the best quarter for job creation since 2006. Spain's
:00:55. > :00:59.Economy Minister says an EU/IMF bailout for the country is not on
:00:59. > :01:02.the table and would be the last resort. In an interview on Spanish
:01:02. > :01:07.state radio late on Thursday night, Luis de Guindos described a bailout
:01:07. > :01:12.as the worst possible outcome. The comments came at the end of another
:01:12. > :01:15.difficult day for Spain on the bond markets. At one point yields on
:01:15. > :01:22.Spain's 10-year debt hit 5.86% - a level Mr de Guindos called
:01:22. > :01:32.unsustainable. On Wednesday Spain struggled to raise money in an
:01:32. > :01:32.
:01:32. > :01:38.auction of 5 year bonds - rattling global markets. Now we had joined
:01:38. > :01:44.by the head of credit at Legal and General. How worrying is these
:01:44. > :01:49.yield on a Spanish debt? They are lower than last November? Yes, but
:01:49. > :01:56.the recent trend is discouraging. The markets will very closely
:01:56. > :02:03.watched the progress this year in relation to any critical level of
:02:03. > :02:08.7%. We are still some distance away but the smaller the distance
:02:08. > :02:13.becomes the more it will create a vicious circle. It is a time for
:02:13. > :02:20.taking stock. We had a strong beginning of the year across all
:02:20. > :02:24.risk assets. Equities, but also credit markets, which have
:02:24. > :02:32.benefited from the flood of liquidity created by central banks.
:02:32. > :02:37.After a strong three months, it is time to reassess. The economic data
:02:37. > :02:43.in Europe has been mixed at best. The Spanish economy is still
:02:43. > :02:49.shrinking. The more it shrinks, the more difficult to reach its targets.
:02:49. > :02:59.What can be done to restore confidence in the markets? Italy
:02:59. > :03:05.could get involved to a point Italy has even more debt. Spain could be
:03:05. > :03:10.accepted by the rescue funds. But if you put Spain end Italy together,
:03:10. > :03:20.it would be very difficult. It is important that that Spain sorts out
:03:20. > :03:26.
:03:26. > :03:29.its problem end the nervousness does not migrate to Italy.
:03:29. > :03:39.Electronic giant Samsung has posted record quarterly profits thanks to
:03:39. > :03:43.booming demand for its smartphones and tablet computers. 5.1 billion
:03:43. > :03:52.US dollars. This is just an estimate of its full year quarterly
:03:52. > :03:58.numbers. With the record number and growing market share, Samsung,
:03:58. > :04:03.which raced to the top of the global smart phone rankings with
:04:03. > :04:08.20% of the market, will consolidate its position against its
:04:08. > :04:17.competitors. Its sterling performance is reflected in the
:04:17. > :04:24.company's share price - up 25% in 2012. Apple is its biggest rival in
:04:24. > :04:30.smart phones, but is also its biggest client, buying displays and
:04:30. > :04:36.chips for its iPhone and iPad. According to analysts, these record
:04:36. > :04:44.numbers can be sustained duty to things. It has an integrated
:04:44. > :04:51.business model. It makes its own applications and screens. Also,
:04:51. > :04:56.earnings for memory chips have pride and, since the bankruptcy of
:04:56. > :04:59.a major rival. It is looking bright for Samsung going forward. Worries
:04:59. > :05:02.about the Eurozone are being tempered somewhat by better news
:05:02. > :05:07.about the US economy. Figures out later are expected to confirm
:05:07. > :05:11.American businesses created over 200,000 new jobs last month. Firms
:05:11. > :05:14.have been hiring at that level since October last year - and the
:05:14. > :05:24.overall jobless rate is now at a three-year low. Another strong
:05:24. > :05:25.
:05:25. > :05:28.month would round off the best quarter for job creation since 2006.
:05:28. > :05:34.After it used foiling in upmarket Manhattan eateries, this shift is
:05:34. > :05:44.opening his own restaurant. For three weeks he has hired new staff,
:05:44. > :05:48.
:05:48. > :05:52.with his wife and business partner. We hired ten people. The National
:05:52. > :06:01.Federation of Independent Business says that small firms created the
:06:01. > :06:06.most jobs in a year in March. But for every person hired, there were
:06:06. > :06:12.many more rejections. We were inundated with people with that
:06:12. > :06:17.experience. Still, this shows Americans are feeling more
:06:17. > :06:23.optimistic. It is not just these restaurants. Across the country,
:06:23. > :06:27.businesses have been hiring a lot more, a strong trend. It means
:06:27. > :06:33.people who have been disheartened and given up by getting back into
:06:33. > :06:38.the jobs market. People like this woman, who has been working part-
:06:38. > :06:45.time teaching. Now she sees more opportunities and is applying for
:06:45. > :06:50.better paid work. There has been a huge change for the better. With
:06:50. > :06:54.that, you have to start making changes. Being a substitute teacher
:06:54. > :07:01.does not pay the bills. improvement is being felt
:07:01. > :07:07.everywhere. Jobs are being gained across the economy. All major
:07:08. > :07:15.sectors are adding jobs. Manufacturer in, construction, the
:07:15. > :07:21.service centre with the bulk of the job gains occur are all adding jobs.
:07:21. > :07:25.It may be too early to celebrate, but a more positive job market is
:07:25. > :07:29.here. The Easter weekend sees the first battle of the holiday season
:07:29. > :07:32.between Europe's airlines. Budget carriers like Easyjet and Ryanair
:07:32. > :07:39.are continuing to capture market share from troubled national flag
:07:39. > :07:48.carriers. But in the no-frills sector, there are changes afoot,
:07:48. > :07:57.with Easyjet trying to shift up- market. Winter always yields slim
:07:57. > :08:04.pickings for airlines, but budget carriers are faring better. Its
:08:04. > :08:09.losses have been lower than the year before. It is winning
:08:09. > :08:13.passengers from full-service competitors. They are taking
:08:13. > :08:19.advantage of markets where the incumbent network carriers have had
:08:19. > :08:25.problems. They have expanded significantly in those markets.
:08:25. > :08:30.Along with Ryanair, easyJet is tightening its grip on the European
:08:30. > :08:36.short-haul market. But it has been tried to draw apart from its rival.
:08:36. > :08:40.Ryanair has captured the bottom of the market. EasyJet has gone up a
:08:40. > :08:44.notch or two to stand in between Ryanair and the full service
:08:44. > :08:51.careers. It flies to many more business destinations now. This
:08:52. > :08:57.month it has been trying out allocated seating, rather than the
:08:57. > :09:02.find your own seed system. 20% of its passengers are business
:09:02. > :09:11.passengers. It was to increase the number of commercial cities in
:09:11. > :09:18.Europe that it flies to and increase frequency. A brief look at
:09:18. > :09:22.stocks. They have had a bad week. The USS had the worst week of the
:09:23. > :09:30.year so far. The euro is at a three-week low with worries about