Browse content similar to 30/05/2012. Check below for episodes and series from the same categories and more!
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in ten days -- many. Those are the latest headlines. Now for the | :00:04. | :00:14. | |
:00:14. | :00:21. | ||
A warm welcome. The headlines: Searching for growth without | :00:21. | :00:25. | |
increasing spending, the European Commission sets out its economic | :00:25. | :00:35. | |
:00:35. | :00:37. | ||
strategy for the EU. I am Rico Hizon. The chairman of Samsung | :00:37. | :00:43. | |
faces three it losses. And the maker of the Blackberry warns again | :00:43. | :00:53. | |
:00:53. | :00:55. | ||
of heavy losses and says job cuts will be coming. | :00:55. | :00:59. | |
The European Commission is due to set out its economic strategy for | :00:59. | :01:06. | |
the EU in a few our's time. It is expected to balance croak with | :01:06. | :01:14. | |
unpopular cuts -- hour's. Investors will be looking for reassurances | :01:14. | :01:18. | |
ahead of the elections in Greece. So how will they achieve the | :01:18. | :01:24. | |
balancing act of encouraging growth without increasing public dead? It | :01:24. | :01:28. | |
is expected to further budgetary set, structural reforms and growth | :01:28. | :01:33. | |
enhancing measures which member states should adopt over the next | :01:33. | :01:38. | |
12 months. These recommendations are aimed at tightening governments, | :01:38. | :01:42. | |
and will be endorsed by the European Council at the end of next | :01:42. | :01:50. | |
month and formally adopted in July. I am joined by a senior global | :01:50. | :01:55. | |
adviser. Nice to see you. Tell us more about this exercise and what | :01:55. | :02:01. | |
it achieves. I think in the current environment, when we really are in | :02:01. | :02:07. | |
crisis, it will not achieve a lot. Excuse me. It is looking at the | :02:07. | :02:13. | |
whole European area. It is the EU, not the eurozone. It is 27 | :02:13. | :02:19. | |
countries. It is, where are we now? How good are they at running their | :02:19. | :02:24. | |
economies? So put in more economic governance around it. So it is not | :02:24. | :02:30. | |
just asking, are they doing better or worse. Sir a report card for the | :02:30. | :02:34. | |
various members of the European Union. -- so. I imagine there is a | :02:34. | :02:43. | |
lot to digest. It comes at a critical time. Tomorrow we have the | :02:43. | :02:48. | |
Irish going to the polls and the elections in Greece and all the | :02:48. | :02:54. | |
news from Spain about the banks. think this report card will not be | :02:54. | :03:04. | |
:03:04. | :03:11. | ||
ignored. But it may be last? You us. It is important. -- lost. -- yes. | :03:11. | :03:14. | |
It will probably say that countries need to make more structural reform. | :03:14. | :03:24. | |
:03:24. | :03:29. | ||
It is difficult to do that when you are growing for some we --. So | :03:29. | :03:34. | |
making more structural changes is even adding to the austerity. | :03:34. | :03:41. | |
is this about Brussels trying to reaffirm its position, saying they | :03:41. | :03:44. | |
are the centre of the European Union and we need you more than | :03:44. | :03:48. | |
ever to toe the line and we need to be moving together in achieving the | :03:49. | :03:56. | |
goal of getting out of this crisis? We do want countries to be run well. | :03:56. | :04:01. | |
Fiscally? Not just fiscal discipline. It is the way you run | :04:01. | :04:07. | |
it. They will probably say things about Italy and tax evasion, have | :04:07. | :04:11. | |
they done and that? Probably not. It will be interesting to see | :04:11. | :04:14. | |
whether they say anything about France making more structural | :04:14. | :04:20. | |
reform. It is about standing back and say, this is where we are. We | :04:20. | :04:26. | |
are looking at what they are doing and saying is it good enough. Many | :04:26. | :04:29. | |
coaches in the eurozone are in crisis but the ones outside of the | :04:29. | :04:34. | |
eurozone on not necessarily in crisis. Thank you. We will see you | :04:34. | :04:44. | |
:04:44. | :04:52. | ||
in a ten minutes's -- ten minutes' time. Now we are talking about a | :04:52. | :05:02. | |
:05:02. | :05:03. | ||
feud within Samsung. Yes, one man is fighting back 3 | :05:03. | :05:08. | |
losses from his siblings of $1 billion worth of assets. His older | :05:08. | :05:14. | |
brother, and younger sister, are demanding shares held in the | :05:14. | :05:18. | |
company's life insurance, which holds the key states in the largest | :05:18. | :05:23. | |
consumer electronics maker. He has not hinted of letting the family | :05:23. | :05:30. | |
destroy the business, telling local media he will not be getting | :05:30. | :05:38. | |
involved in these seats but will be just fine to grow the company. -- | :05:38. | :05:45. | |
in these suits. So tell us more about what the chairman has been | :05:45. | :05:52. | |
saying for some it is also about key competitors? That is right. | :05:52. | :05:58. | |
There had been Santas from its largest rival, Apple. -- there have | :05:58. | :06:08. | |
:06:08. | :06:09. | ||
been challenges. They have traded leadership positions. Despite these | :06:09. | :06:13. | |
disputes, the South Korean China keeps going from strength to | :06:13. | :06:22. | |
strength. Last quarter it ended its reign as a global leader -- giant | :06:22. | :06:27. | |
thank you. Lead us stay within that industry. | :06:27. | :06:32. | |
The company behind the Blackberry says it will have profit warnings | :06:32. | :06:38. | |
and has announced job cuts. Research In Motion also says it is | :06:38. | :06:41. | |
hiring JPMorgan and RBC Capital Markets to help review the business. | :06:41. | :06:45. | |
Its shares fell 10% in the hours along this news. | :06:45. | :06:52. | |
These grim times. The Canadian manufacturer of the Blackberry | :06:52. | :07:01. | |
mobile phone's shares have already fallen 80% in value. Their | :07:01. | :07:11. | |
:07:11. | :07:13. | ||
customers have switched to the Android or the Apple's phones. It | :07:13. | :07:18. | |
has appointed outside advisers, including JP Morgan, to advise on | :07:18. | :07:24. | |
the strategic options. Blackberry warns that the next few quarters | :07:24. | :07:29. | |
will be financed the challenging as it limbers up for Blackberry 10, | :07:29. | :07:36. | |
the new operating system that is make or break for this company. All | :07:36. | :07:44. | |
of this has made investors take fright and shares crashed 11% in | :07:44. | :07:47. | |
value. International energy companies are | :07:47. | :07:51. | |
lining up to search for oil in Iraq in one of the largest exploration | :07:51. | :07:56. | |
exercises in the world. 47 companies will be bidding for the | :07:56. | :08:01. | |
work in auctions today. They could find 10 billion barrels of crude or | :08:01. | :08:05. | |
ill. For three years foreign companies have been rebuilding the | :08:05. | :08:11. | |
will sector in Iraq and it has been producing over 3 million barrels a | :08:11. | :08:19. | |
day. -- oil sector. This is a national occasion. But a | :08:19. | :08:25. | |
new twist to the plot. Rather than hiring foreign companies, the | :08:25. | :08:29. | |
government will ask winning bidders to look for new reserves. The | :08:29. | :08:36. | |
search will take place across some of the largest tracts of our -- | :08:36. | :08:46. | |
:08:46. | :08:46. | ||
unexplored terrain in the world. There are reports the government is | :08:46. | :08:52. | |
offering the chance to explore in the country. This is not bad. There | :08:52. | :08:58. | |
are prospects of finding a large amount of oil. That potential is | :08:58. | :09:03. | |
not available with the contracts that they used to how. Iraqis on | :09:03. | :09:12. | |
its way back to being a great or willpower, -- Iraq is. -- a great | :09:12. | :09:20. | |
oil power. In five years' time, the production capacity could reach 12 | :09:20. | :09:29. | |
million barrels today, on a par with Saudi Arabia. With its new | :09:29. | :09:39. | |
:09:39. | :09:54. | ||
will fill us it will feel it -- oilfields it may not have to work | :09:54. | :10:04. | |
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on them for years. There have been persistant power cuts. | :10:09. | :10:15. |