:00:03. > :00:13.72 civilians. Those are the latest headlines.
:00:13. > :00:15.
:00:15. > :00:21.Now for the latest a financial news with World Business Report.
:00:21. > :00:24.This is World Business Report. The headlines: Crisis talks in
:00:24. > :00:33.Brussels: Eurozone finance ministers meet to discuss the
:00:33. > :00:43.political chaos in Greece. In Singapore, 80's economic powers
:00:43. > :00:50.
:00:50. > :00:55.to -- Asia's three main powers look to group together.
:00:55. > :00:57.Of and results from internet discount sight of Groupon put a
:00:57. > :01:02.gloss on the battered company's reputations.
:01:02. > :01:07.Once again Greece is the top of the agenda in Europe as the bail out
:01:07. > :01:13.programme hangs in the balance. Reports from Athens say the leader
:01:13. > :01:22.of the far-left party will not attend coalition talks later today,
:01:22. > :01:32.plunging the country into further political disarray. It takes Greece
:01:32. > :01:39.
:01:39. > :01:45.a step closer to a new elections. It is a difficult task ahead for
:01:45. > :01:51.the finance ministers? Yes, absolutely. It is very clear
:01:51. > :01:55.from what you hear from the European Commission, several
:01:55. > :02:05.bankers saying that Greece can leave the eurozone if it wants Joe,
:02:05. > :02:07.
:02:07. > :02:12.if it does not want to stick to the rules. -- if it wants to. This is
:02:12. > :02:19.the first time leaders have been so clever about the option. They are
:02:19. > :02:25.making the next election a referendum on the eurozone.
:02:25. > :02:29.It seems more likely there might be an exit, talk about changing the
:02:29. > :02:37.rules of the stability Programme and fiscal changes?
:02:37. > :02:47.Yes, absolutely. The left in Greece is banking on the fact that they
:02:47. > :02:49.
:02:49. > :02:57.hope Europe will budge. European leaders will backtrack and say, you
:02:57. > :03:00.can stay and we will change the rules. Portugal, Ireland and Spain
:03:00. > :03:05.might then ask for more lenient treatment as well. That is why
:03:05. > :03:13.Europe is making a stand on this one, not willing to budge. If they
:03:13. > :03:23.do it for Greece, they have to do with four other countries as well.
:03:23. > :03:26.
:03:26. > :03:30.-- do it for. You will lose discipline in the long run.
:03:30. > :03:34.Discussions on Greece will dominate do you think they will talk about
:03:34. > :03:42.Spain, its move to try to help its banks?
:03:42. > :03:52.Probably they will. Greece is a special case. In Spain. You face is
:03:52. > :03:54.
:03:54. > :04:00.the aftermath of a real-estate bubble which has turned into, it
:04:00. > :04:04.has become a problem for Europe. National bank regulators, national
:04:05. > :04:09.governments are responsible for potentially recapitalising banks.
:04:09. > :04:19.The Spanish real-estate problem becomes a Egg Banking problem in
:04:19. > :04:23.
:04:23. > :04:33.Spain, it affects the economy yet again. -- becomes a bank problem.
:04:33. > :04:36.
:04:36. > :04:42.They may try to do their best... Thank you very much.
:04:42. > :04:47.The online daily deals from Groupon will reveal how much money it made
:04:47. > :04:51.in the first quarter. The value of its shares has roughly halved since
:04:51. > :04:55.its high-profile market listing in November and the company recently
:04:55. > :05:02.had to revise its fourth-quarter results from last year. This
:05:02. > :05:12.triggered another tumble in share prices. A cautionary tale perhaps
:05:12. > :05:18.
:05:18. > :05:23.amid the euphoria associated with the Facebook launch.
:05:23. > :05:31.Every type of fish is on sale here. This daily uses the Groupon
:05:31. > :05:36.discount vouchers to find new customers. It has brought in new
:05:36. > :05:42.business but there is a note of caution. It works for my business.
:05:42. > :05:46.I do not need to hire extra staff to put up more product. It works
:05:46. > :05:56.that way for us but I have other stories, businesses going out of
:05:56. > :05:58.
:05:58. > :06:00.business because they have to hire more staff, it is a stranglehold.
:06:00. > :06:05.Businesses up and down the street are competing for customers. That
:06:05. > :06:10.is why some of them are using Groupon. It might have worked out
:06:10. > :06:20.for them but it has not been a good business model for Groupon. The
:06:20. > :06:26.company has grown very fast, to over 10,000 people in 48 nations.
:06:26. > :06:31.The cost of employing all of those salesmen to the crew to small
:06:31. > :06:35.companies is huge and rising. That is a concern. There is a
:06:35. > :06:40.possibility that they can never figure out how to be profitable
:06:40. > :06:50.over the long run. There is a lot of different scenarios that can
:06:50. > :06:51.
:06:51. > :06:56.happen. This man, founder and chief executive, also faces other
:06:56. > :07:01.problems. Groupon is being sued by shareholders after mistakes in its
:07:01. > :07:10.last accounts. For some, investing in this one-time wonder company is
:07:10. > :07:17.turning out to be less appetising than first appeared.
:07:17. > :07:25.It has been a long time coming. China, Japan and South Korea have
:07:25. > :07:30.signed a trade agreement. They had signed an agreement to have an
:07:30. > :07:37.agreement, is that right? That is right. Basically they have
:07:37. > :07:47.agreed to begin negotiations for a free-trade agreement but the three
:07:47. > :07:49.
:07:49. > :07:54.leaders also signed a bilateral investment a chord. -- trilateral
:07:54. > :08:01.investment accord. The leaders are quite confident that they will seal
:08:01. > :08:07.the deal sooner rather than later, Wen Jiabao saying they will unleash
:08:07. > :08:12.power in the region. It'll help countries at the time of rising
:08:12. > :08:20.trade protection. The Japanese prime minister says economic co-
:08:20. > :08:30.operation is essential. Trade between the three countries top
:08:30. > :08:32.
:08:32. > :08:36.about $700 billion in 2011. -- topped. A free-trade agreement is
:08:36. > :08:43.said to raise trade between the countries. The leaders also agreed
:08:43. > :08:46.to work together to ease regional disputes. Geopolitical tensions,
:08:46. > :08:50.specifically on the Korean peninsula.
:08:50. > :09:00.You can see the pictures of the top three leaders who had their meeting
:09:00. > :09:01.
:09:01. > :09:05.yesterday. Now who are as -- and Yahoo has announced its chief
:09:05. > :09:10.executive, Scott Thomson, is stepping down after a controversy
:09:10. > :09:15.over fake computer science college degree on his CV. That mistake was
:09:15. > :09:25.brought to light by a shareholder who is keen for the new members to
:09:25. > :09:26.
:09:26. > :09:31.be appointed to the board of the company. Ross Levinsohn is taking
:09:31. > :09:35.over as interim chief executive. It is being reported three
:09:35. > :09:39.executives are to leave the US bank JP Morgan Chase. This follows the
:09:39. > :09:44.shock news on Friday that it lost $2 billion on risky trading