25/05/2012

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:00:03. > :00:08.Those are the latest headlines. Now, for a look at moves to increase

:00:08. > :00:18.online privacy and the rest of the financial means, it is time for

:00:18. > :00:21.

:00:21. > :00:26.World Business Report. Welcome. New UK privacy rules that

:00:26. > :00:31.could stop firms from spying on your computer.

:00:31. > :00:41.At in Hong Kong, shareholders of Alibaba the Greek to make the

:00:41. > :00:49.

:00:50. > :00:53.company private. Two online retailers call it

:00:53. > :00:57.personalisation. Some others call it spying. Software that tracks

:00:57. > :01:02.will every click on internet and sends it to firms trying to sell

:01:02. > :01:06.you their goods. The UK becomes one of the first to enforce the new

:01:06. > :01:11.rules. From this weekend, internet users will have the power to stop

:01:11. > :01:16.companies from gathering data on them. But some retailers and firms

:01:16. > :01:21.warned the move could hurt the business. The is is something that

:01:21. > :01:27.many would have come across online. -- this is something. You browse

:01:27. > :01:31.for cheap holiday flights and on subsequent visits, you are assailed

:01:31. > :01:36.by other companies who you have not got in contact with but had somehow

:01:36. > :01:41.found out about your once. A lot of people believe this is a form of

:01:41. > :01:46.corporat law says website operators muds -- must

:01:46. > :01:52.allow users to block the data gathered while they browse. That

:01:52. > :01:56.data is known as cookies. Online retailers say it is too heavy

:01:56. > :02:00.handed. They say the information is used internally to measure how well

:02:00. > :02:05.their websites are working. Without it, says one online market, the

:02:05. > :02:09.retail would suffer. We are designing the wet side blind. We

:02:09. > :02:14.may come up with a new way of laying out information and find

:02:14. > :02:18.nobody is coming to the website. -- the website. It may be that the

:02:18. > :02:22.service is not suitable for our client base but we have no way of

:02:22. > :02:32.tracking that. One way forward site operators to comply with the law is

:02:32. > :02:36.to ask use -- asked uses for permission. Another method is to

:02:36. > :02:40.warn that data will be stored unless they click on a link and

:02:40. > :02:45.change their privacy settings. Most users will probably not do this so

:02:45. > :02:51.this is the method most will probably use. We all use things

:02:51. > :02:55.like Google and Facebook. Newspapers, magazines, they are all

:02:55. > :03:00.free, thanks to the use of certain technologies that allow them to

:03:00. > :03:05.exploit information they collect. Not being able to fully used that

:03:05. > :03:09.of technology has a direct impact on the business. It is these big

:03:09. > :03:14.websites that under most pressure to comply with the cookies' law

:03:14. > :03:18.because they are likely to be the ones the privacy authority checks

:03:18. > :03:22.upon first. Other news, on Friday the chief of

:03:22. > :03:26.the Spanish when the Bank has expected to tell his board the

:03:26. > :03:30.group will need nearly twice the bail-out money discussed by the

:03:30. > :03:34.government. Some 15 billion euros, according to the reports. One in

:03:34. > :03:39.ten Spaniards has savings with and here but it is close to insolvency

:03:40. > :03:43.due to huge losses. The group is part owned by Spanish taxpayers,

:03:43. > :03:46.following a 4.5 billion euros bail- out earlier in the month.

:03:46. > :03:49.Facebook investors could get some of their money back following a

:03:49. > :03:53.technical glitch which delayed their trading debut in New York

:03:53. > :03:58.last Friday. The main broker is sorting through more than one

:03:58. > :04:01.million trades manually to see who was affected. The broker is also

:04:01. > :04:06.fighting two lawsuits over changes to its guidance on Facebook, just

:04:06. > :04:11.days before the sale. Some investors say they were not

:04:11. > :04:15.informed of a downgrade in Facebook's revenue.

:04:15. > :04:19.Independent shareholders have voted to privatise Alibaba .com and

:04:19. > :04:24.remove its shares from the London Stock Exchange. There are reports

:04:24. > :04:33.that China's state owned wealth fund is in advanced talks to buy a

:04:33. > :04:37.$2 billion stake in Alibaba. Our correspondent has more. This is a

:04:37. > :04:44.company who is partly held by Yahoo and wants to buy that back and take

:04:44. > :04:51.itself of the market? That is right. Ali Dubbo .com is

:04:51. > :04:56.the only listed portion of the massive Alibaba group. -- Alibaba.

:04:56. > :05:01.That group is estimated at up to $50 billion at the moment. It is

:05:01. > :05:11.the group that made this offer to Independent shareholders in, hop --

:05:11. > :05:11.

:05:11. > :05:16.in Hong Kong to buy back their shares. That was $13.50 for a

:05:16. > :05:20.reasonable sum. It seems investors are not making any money off this.

:05:20. > :05:26.Even though most of them have agreed to sell those shares back to

:05:26. > :05:30.the Alibaba group. The website was the first company founded by the

:05:30. > :05:34.founder who was in America on a business trip. He was looking for

:05:34. > :05:38.Chinese beer on intimate and could not find it. He therefore found

:05:38. > :05:43.this company with links people who want to buy to people who want to

:05:43. > :05:47.sell. Those are factories outside of China. This is the company that

:05:47. > :05:52.started it all and now it looks like he wants to consolidate his

:05:52. > :05:55.control over the entire group and possibly take it public at some

:05:55. > :06:01.point. Where is the money coming from? The

:06:01. > :06:07.group or are they looking for individual investors?

:06:07. > :06:13.The group has already agreed to put up this money. The deal is worth

:06:13. > :06:17.about $2.5 billion US. Alibaba group will give that to the

:06:17. > :06:22.minority shareholders, and once that is done, the company will then

:06:22. > :06:27.be delisted some time this summer. Thank you. Trade between Africa and

:06:28. > :06:31.China is now thought to be worth about $160 billion every year. But

:06:31. > :06:36.as the relationship between the two develops beyond raw-materials, it

:06:36. > :06:39.is bringing tensions as well as benefits. One flash point has been

:06:39. > :06:43.cheap Chinese textiles which some African companies say is good in

:06:43. > :06:48.and out of business. This week, Nigeria rested many Chinese textile

:06:48. > :06:52.traders and threatened to deport them. This report from Shanghai.

:06:52. > :06:57.This is the financial heart of an economic superpower. Shanghai is

:06:57. > :07:01.home to 23 million people. Its rapid expansion reflects the growth

:07:01. > :07:06.of the national economy. That growth is fuelled by raw-materials

:07:06. > :07:10.and new markets. Africa is rich in both. The strength of this giant

:07:10. > :07:16.economy is linked in many ways to the fate of another waking giant,

:07:16. > :07:20.the African economy. That means an increasing number of people see

:07:20. > :07:24.that if they can be secured their future in this new age, they have

:07:24. > :07:28.to think of time as more than just a source of investment. Shanghai

:07:28. > :07:34.liberty apparel is co-owned by one man who has taken that lesson very

:07:34. > :07:41.much to heart. This man turns out clothing and textiles for the

:07:41. > :07:47.international brands. -- beak. He even export back to his home

:07:47. > :07:53.country, Zambia. I do business in China because it is so -- so much

:07:53. > :08:03.more convenient. The infrastructure is so good that from point A to

:08:03. > :08:03.

:08:03. > :08:07.point B, it is easier. Despite the sheer convenience, he is still a

:08:07. > :08:11.firm believer of the economy back home and says trade between China

:08:11. > :08:17.and Africa is essential. Africans need to invest here. They need

:08:17. > :08:21.improve the level. If China is doing this, why not? But to cross

:08:21. > :08:25.the globe in Cape Town, the flipside of Chinese exports. This

:08:25. > :08:29.factory is closing down after 100 years in business. The owners are

:08:29. > :08:34.blaming cheap goods from China. South African manufacturers say

:08:34. > :08:43.they are being strangled by trade with China. They are cut in pay for

:08:43. > :08:46.new employees by 30%. -- cut in pay. In the industrial area, we have

:08:47. > :08:52.seen more than 120,000 jobs lost over five years. There is no way

:08:52. > :08:56.you can compete with China. We uphold labour standards and that is

:08:56. > :09:00.why we will never be able to compete with China or India. We

:09:00. > :09:04.should keep them out of our markets. Despite those concerns, China is

:09:05. > :09:11.now Africa's biggest trading partner. In a world hungry for

:09:11. > :09:14.growth, those links seem desperate to grow even stronger.

:09:15. > :09:19.-- destined. Taking a look at what has been

:09:20. > :09:25.happening on the market in a second. But for more on Africa's trade with

:09:25. > :09:29.China, tune into a special edition of the African Business Report from

:09:29. > :09:37.Shanghai, this weekend on BBC World News at these times, coming up on