Browse content similar to 24/04/2012. Check below for episodes and series from the same categories and more!
Line | From | To | |
---|---|---|---|
newspapers he was in charge of. Now it is time for the latest | :00:05. | :00:15. | |
:00:15. | :00:21. | ||
financial news. The headlines: Going Dutch. The | :00:21. | :00:26. | |
eurozone's consensus starts to unravel. | :00:26. | :00:36. | |
Benetton's founder prepares to step down after 47 years. | :00:36. | :00:41. | |
The collapse of the Dutch coalition government has sent shockwaves from | :00:42. | :00:46. | |
Europe and global markets. Until the weekend of the Netherlands was | :00:46. | :00:55. | |
judged to be part of the eurozone's safe course. Prime Minister Mark | :00:55. | :01:05. | |
:01:05. | :01:05. | ||
Rutte's failure to push through budget cuts... To talk us through | :01:05. | :01:15. | |
:01:15. | :01:17. | ||
some of the factors that spooked investors I welcome my guest. The | :01:17. | :01:22. | |
poor economic data was unexpected? It was. Eurozone economies expected | :01:22. | :01:32. | |
to be confirmed to be in recession for the first quarter. They were | :01:32. | :01:36. | |
expected to be better than they were. What the numbers suggest is | :01:36. | :01:41. | |
that the economy really is dragging along the bottom. On top of that we | :01:41. | :01:46. | |
have negative political developments. Tell us how | :01:46. | :01:50. | |
significant what happened in the Netherlands is and what it means | :01:50. | :01:55. | |
for the eurozone. It has been largely ignored because of focus on | :01:55. | :02:05. | |
:02:05. | :02:06. | ||
a southern European economies. is a well structured economy. We | :02:06. | :02:10. | |
have opposition against austerity. Some of the GDP data from the | :02:10. | :02:16. | |
Netherlands last year was disappointing. Some stresses were | :02:16. | :02:20. | |
appearing about further cuts. This is why the coalition broke down. | :02:20. | :02:24. | |
One of the coalition partners refused to endorse the extra | :02:24. | :02:33. | |
austerity needed. This is becoming a real theme - backlash against | :02:33. | :02:40. | |
austerity. It is a theme in France with Francois Hollande and Nicolas | :02:40. | :02:47. | |
Sarkozy talking about focusing on growth. It is difficult to sell the | :02:47. | :02:52. | |
austerity measure, isn't it? That is right. Looking at the protests | :02:52. | :02:57. | |
in Greece, in Spain. When you see it go into France and the | :02:57. | :03:03. | |
Netherlands you begin to wonder if the eurozone really can remain on | :03:03. | :03:09. | |
this track to bring in further austerity. I know Angela Merkel is | :03:09. | :03:15. | |
determined and those at the ECB but say he didn't, people do things to | :03:15. | :03:20. | |
get some growth going, why would that be such a bad thing? | :03:20. | :03:25. | |
difficulty is getting the right policies in place. Policies aimed | :03:25. | :03:31. | |
at generating growth have some form of fiscal spend and that is what | :03:31. | :03:37. | |
they are trying to bring back. This is not particularly new. Going back, | :03:37. | :03:41. | |
some of the EU summits in the past few months were designed to support | :03:42. | :03:51. | |
:03:52. | :03:58. | ||
growth but they were hijacked with respect to Greece. Trying to find | :03:58. | :04:04. | |
policies... The Holy Grail of Economics. Thank you for that. You | :04:04. | :04:10. | |
will be back later to discuss the newspaper stories. | :04:10. | :04:14. | |
Apple is reporting second-quarter earnings later. Its stock has been | :04:14. | :04:21. | |
hit recently. It has been turbulent ahead of these numbers. It'll be | :04:21. | :04:28. | |
iPad and iPhone numbers that will hold it up. After meteoric games | :04:28. | :04:33. | |
since the start of the year the Apple share price has been falling | :04:33. | :04:38. | |
recently. The frenzied scenes that greeted | :04:38. | :04:47. | |
the launch of products like the on those fine and iPad -- of the | :04:47. | :04:54. | |
iPhone and iPad have increased their success. Earlier this month | :04:54. | :05:00. | |
Apple shares peaked at $643 making it by far the world's most valuable | :05:01. | :05:04. | |
company. In the last couple of weeks the trend has been the other | :05:05. | :05:11. | |
way. Shares are down about 10%. Is this a temporary dip or a worrying | :05:11. | :05:16. | |
new trend? I would not read anything into the sell-off from the | :05:16. | :05:24. | |
highs that were very high for Apple to where it is right now. It is a | :05:24. | :05:29. | |
mellow a sell-off in the stop. People are waiting to see the | :05:29. | :05:33. | |
numbers and maybe what products are out there to stoke the growth going | :05:33. | :05:39. | |
forward. Apple is facing greater competition for smartphones, | :05:39. | :05:49. | |
:05:49. | :05:54. | ||
cheaper devices running Google's and droid platform. -- S Android. | :05:54. | :06:00. | |
But Apple has some things in its favour. We think in 12 months we | :06:00. | :06:08. | |
will have a couple of massive product introductions - the iPhone | :06:08. | :06:16. | |
five. For shoppers here in Manhattan they probably don't care | :06:16. | :06:21. | |
too much about the share price. The next few months will be nervous for | :06:21. | :06:26. | |
investors as they wait the launch of the next generation of iPhone. | :06:26. | :06:30. | |
Some say Apple could yet become the world's first trillion dollar | :06:30. | :06:40. | |
company. After 47 years at the helm, the | :06:40. | :06:46. | |
chairman of Benetton is expected to stand down. His son will take over. | :06:47. | :06:51. | |
He faces a challenge to restore the fortunes of the high-street | :06:51. | :06:58. | |
retailer. Competition that respond instantly to market trends is | :06:58. | :07:08. | |
:07:08. | :07:09. | ||
emptying its stores. It will unveil its earnings later a today. Big | :07:09. | :07:17. | |
changes for Benetton? He has been running the company for 47 years. | :07:17. | :07:23. | |
It is a family dynasty. They have had a level of extraordinary | :07:23. | :07:27. | |
success in launching their company and maintaining its position in the | :07:27. | :07:36. | |
market. It is 47 years since the company was founded and today the | :07:36. | :07:46. | |
:07:46. | :07:50. | ||
founder will an ounce for handing over to his son. -- will announce | :07:50. | :07:57. | |
the. Last year they failed to deliver a dividend and there has | :07:57. | :08:00. | |
been criticism about the advertising campaign, very | :08:00. | :08:07. | |
provocative. Tell us about his plans. The company is in a bit of | :08:07. | :08:12. | |
trouble at the moment. It recently delisted from the Milan stock | :08:12. | :08:21. | |
exchange. He may well decide to have more centralised control over | :08:21. | :08:26. | |
the business. It has been based on franchising so far. The market | :08:26. | :08:35. | |
feels that the company has failed to have this instant response in | :08:35. | :08:45. | |
:08:45. | :08:52. | ||
this fast and fashion business. I was walking through a tsar -- Zara | :08:52. | :09:02. | |
:09:02. | :09:02. | ||
store. There is talk of expanding the business in Asia. Thank you | :09:02. | :09:07. | |
very much. Big changes at Benetton today. | :09:07. | :09:12. | |
Facebook came out with news that their earnings fell 12% in the | :09:12. | :09:17. | |
first three months of the year. You can see markets today are not | :09:17. | :09:22. | |
having a good session at all in Asia. 40 minutes ago the markets, | :09:22. | :09:28. | |
most of them were higher. It is only Japan down a bit. We are | :09:28. | :09:34. | |
seeing losses across the board at the moment. Concern in Asia at the | :09:34. | :09:39. | |
eurozone debt crisis. Many of the big economies in Asia export to | :09:39. | :09:45. |