Browse content similar to 31/05/2012. Check below for episodes and series from the same categories and more!
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later. Welcome to the programme. Here are | :00:17. | :00:25. | |
the headlines: Scramble for safety. Demand for UK, US debts soar as | :00:25. | :00:31. | |
eurozone fears mount. A Asian stock market's retreat as | :00:31. | :00:35. | |
investors feared the Greek debt crisis will spill over into Italy | :00:35. | :00:39. | |
and Spain. India may pose the biggest growth | :00:39. | :00:49. | |
:00:49. | :00:53. | ||
in three years as the global Extreme times call for extreme | :00:53. | :00:57. | |
actions. That is the feeling among many in the markets who are pouring | :00:57. | :01:03. | |
money into safe havens. The banking crisis in Spain is far from | :01:03. | :01:13. | |
:01:13. | :01:15. | ||
resolved. Eight disappointing debt If you invest in the US economy for | :01:15. | :01:20. | |
ten years, your return is a near one. 62%. The interest rate on | :01:20. | :01:25. | |
German and UK debt will plunge as people look for places to put their | :01:25. | :01:28. | |
money where they will believe they will get it back. The euro fell | :01:28. | :01:34. | |
almost 4% against the dollar to its lowest level in two years. Share | :01:34. | :01:44. | |
:01:44. | :01:45. | ||
markets were falling heavily and global losses are being felt. | :01:45. | :01:51. | |
Talk us through what is happening way you are. Right now, the fear | :01:51. | :01:57. | |
among Asian investors is contagion in the eurozone. That is leading to | :01:57. | :02:02. | |
this major sell off this Thursday in the region. The sentiment is the | :02:02. | :02:05. | |
Greek debt crisis is engulfing bigger economies like Spain and | :02:05. | :02:10. | |
Italy. China is not helping. Beijing said earlier this week they | :02:10. | :02:15. | |
would be no stiffness package similar to the one in 2008 after | :02:15. | :02:23. | |
the global financial crisis. -- Many are questioning what steps | :02:23. | :02:33. | |
:02:33. | :02:40. | ||
Beijing will take next as Europe's Electronics manufacturers and | :02:40. | :02:48. | |
leading the list as Hong Kong's index Arnaud by 1.5%. Energy shares | :02:48. | :02:58. | |
:02:58. | :03:00. | ||
are falling. -- are Low Wood. us talk to Justin. We would put | :03:00. | :03:04. | |
some perspective on all of this. Some are saying we are in perilous | :03:04. | :03:12. | |
times. What is your perspective? Are people we -- over reacting? | :03:12. | :03:17. | |
This is not an economic crisis but a lack of credit for political | :03:17. | :03:27. | |
leadership and policy. -- credible. It has been left to the last minute. | :03:27. | :03:35. | |
People are saying, I do not trust what is going on. We are dealing | :03:35. | :03:43. | |
with symptoms. Spain is a symptom. So is Italy. The cause is the | :03:43. | :03:46. | |
dissident structure in the single currency. Get that sorted out and | :03:46. | :03:56. | |
everything else can be put into perspective. This might... If we | :03:56. | :04:04. | |
enhance this, we can get a progress. In terms of where the money was | :04:04. | :04:10. | |
going, he interest rates on UK debt and on the US as well, Germany is | :04:10. | :04:18. | |
seen growth in the economy. Their economy is relatively strong. Debt | :04:18. | :04:26. | |
levels are high in the UK and US. Explained the thinking. As the | :04:26. | :04:31. | |
world's largest economy, the US is seen as a safe haven. Britain is a | :04:31. | :04:37. | |
little perverse. To call it a safe haven is going too far. Its debt is | :04:37. | :04:44. | |
managed by an agency of the Treasury. Britain does not have a | :04:44. | :04:54. | |
:04:54. | :05:05. | ||
debt crisis. America is 5.5 using People are not being rewarded, | :05:05. | :05:15. | |
:05:15. | :05:16. | ||
whether it is German debt or British dead. Let us squeeze in | :05:16. | :05:21. | |
some other business news. Ireland is holding a referendum on | :05:21. | :05:24. | |
whether to ratify the new fiscal pact which imposes tighter rules on | :05:25. | :05:29. | |
government spending. This leads the backing of 12 states to come into | :05:29. | :05:35. | |
effect. A no vote from Ireland will not scuffle it but will increase | :05:35. | :05:40. | |
tensions on the market. Graff Diamonds shelved its billion | :05:40. | :05:44. | |
dollars flotation on the Hong Kong stock exchange, citing adverse | :05:44. | :05:54. | |
market conditions. The struggling travel agent was | :05:54. | :05:59. | |
forced to ask lenders in extra funding, raising fears it was close | :05:59. | :06:09. | |
:06:09. | :06:15. | ||
India is releasing growth figures. Growth is expected to come in at 6%. | :06:15. | :06:20. | |
It sounds healthy by European standards. It will be the weakest | :06:20. | :06:25. | |
in India for three years. Economic challenges have been mounting not | :06:25. | :06:35. | |
:06:35. | :06:37. | ||
just from overseas but many from The hard pushed to keep India's | :06:37. | :06:41. | |
growth machine spinning. This factory produces 16 million square | :06:41. | :06:46. | |
metres of bed linen every year which it sells to the US and Europe. | :06:46. | :06:51. | |
The currency should help boost its sales overseas but the owner says | :06:51. | :06:57. | |
the company has not been benefiting because like most firms, production | :06:57. | :07:04. | |
costs have increased. Inflation impacts us. He labour costs have | :07:04. | :07:12. | |
increased. The transportation and fuel costs have gone higher. Our | :07:12. | :07:17. | |
production costs have gone up because of these factors. Sales to | :07:17. | :07:22. | |
the US have been rebuffed. The company has had no new orders from | :07:22. | :07:30. | |
Europe in the last six months. -- robust. This sport is one of | :07:30. | :07:38. | |
India's gateways to the world. -- port. Most companies are facing | :07:38. | :07:42. | |
hurdles on a number of fronts. A global slowdown that is reducing | :07:42. | :07:46. | |
demand from the outside and on the inside, high inflation coupled with | :07:46. | :07:52. | |
a weak crop -- currency, is making everything more expensive. The | :07:52. | :07:57. | |
trade gap is widening. There are concerns the government is spending | :07:57. | :08:02. | |
more than it can afford. High interest rates and a lack of key | :08:02. | :08:08. | |
reforms have dampened the economic climate. The pace of growth Bay be | :08:08. | :08:12. | |
the envy of countries elsewhere, that many argue that India is not | :08:12. | :08:22. | |
:08:22. | :08:23. | ||
matching up to its potential. Europe's top football clubs are | :08:23. | :08:33. | |
:08:33. | :08:50. | ||
being water they need to keep a lid This has not changed, this problem | :08:50. | :08:58. | |
of players' wages. Football has been having fantastic revenue | :08:58. | :09:07. | |
growth. Players share in that the Mac. But it has gone too far. The | :09:07. | :09:12. | |
club needs to take action to restore balance. UEFA is looking to | :09:12. | :09:22. | |
:09:22. | :09:31. | ||
take that action. The objective is to help clubs to help themselves | :09:31. | :09:40. | |
and readjust that balance. How does that work? There is a break even | :09:40. | :09:47. | |
requirement. Clubs will be required to get close to, or break even, in | :09:47. | :09:55. | |
terms of results. They can invest in a youth development. As a | :09:55. | :10:01. | |
business, they have to break even. They cannot rely on a white knight | :10:01. | :10:11. | |
:10:11. | :10:12. | ||
to rescue them all the time. Yes. The benefactor supplying them | :10:12. | :10:18. | |
will... Will that be out of control? It is a positive | :10:18. | :10:28. |