:00:03. > :00:13.painkillers before every game. Those are the latest headlines.
:00:13. > :00:20.
:00:20. > :00:26.This is World Business Report. G7 finance ministers are to hold
:00:26. > :00:35.emergency talks as the crisis in the eurozone deepens.
:00:36. > :00:44.Try to level the score her - a Games Expo opens in Los Angeles as
:00:44. > :00:47.game developers have to deal with the rise in tablets.
:00:48. > :00:51.Finance ministers and central bank heads from the G7 group of
:00:51. > :00:56.industrialised nations are holding emergency talks later this Tuesday
:00:56. > :01:02.to try and work on concrete measures to deal with the eurozone
:01:02. > :01:08.crisis. Greece may leave the single currency and Spain may be unable to
:01:08. > :01:16.cope with a multi-million-dollar black hole in its banking system.
:01:16. > :01:26.Later last week, those fears were compounded with the weak figures
:01:26. > :01:31.from China and India. It is time to talk to one of the world's most
:01:31. > :01:36.influential investors. He joins us now from Singapore. He has been
:01:36. > :01:43.based there from 2007. This is really a merry-go-round, the debt
:01:43. > :01:49.crisis. And what fate you have binned the idea that the crisis
:01:49. > :01:54.could be saltier? I have no confidence it could be sold. You
:01:54. > :01:59.know that they had emergency meetings every month for two. It
:01:59. > :02:04.has been going on for several years now. They keep making everything
:02:04. > :02:09.worse, not better. Every country involved has higher debt than it
:02:09. > :02:13.did it years ago. It is getting worse, not better. You said that
:02:13. > :02:20.Greece is better off leaving the eurozone and making a fresh start.
:02:20. > :02:25.Do you stand by that? What I said was is that Greece is better off
:02:25. > :02:31.going bankrupt and staying in the euro. If they do not want to stay,
:02:31. > :02:36.they are better off leaving. But they are better off going bankrupt.
:02:36. > :02:42.Why should innocent German taxpayers take the lost? Greece
:02:42. > :02:48.should go bankrupt. They should stay in the euro. If they leave, it
:02:48. > :02:54.will be worse. Look at their history since 1832. It has been a
:02:54. > :02:59.nightmare most of the time. moved to Singapore a few years ago.
:02:59. > :03:07.What is your view on emerging markets? How much of an impact will
:03:07. > :03:12.the eurozone crisis have on them? Europe is the largest economy in
:03:12. > :03:19.the world as a whole. When the largest economy in the world has
:03:19. > :03:22.problems, everybody suffers. Now it is having an effect everywhere. I
:03:22. > :03:27.would not consider Singapore and emerging market. It is more
:03:27. > :03:34.prosperous than most countries in the world. What are your feelings
:03:34. > :03:39.on emerging markets in the next few months? I have sold short emerging
:03:39. > :03:48.markets. I do not expect to see great things coming out of emerging
:03:48. > :03:52.markets. We have economic problems in Europe and the US. The US is
:03:52. > :03:58.suffering from serious slowdown. Things will not be great. Be very
:03:58. > :04:03.careful and worried. Where would you put your money right now?
:04:03. > :04:08.have my money is in foreign currencies for commodities. If the
:04:08. > :04:15.world economy gets better, I will make a lot of money. If the world
:04:15. > :04:19.economy does not get better, I want to own real assets. Governments
:04:19. > :04:27.will print money. It is the wrong thing to do, but it is all they
:04:27. > :04:31.know. You have talked about the dollar recently and said some quite
:04:31. > :04:40.interesting things about it and whether or not you believe it can
:04:40. > :04:47.remain a haven. I own summer US dollars. People think it is a safe
:04:47. > :04:53.haven, it is not. I owned them because many people going to the
:04:53. > :05:01.dollar. It is not a very sound. How long will that happen? I do not
:05:01. > :05:06.know, another quarter, another year, another decade for all I know. In
:05:06. > :05:12.the history of the world, the US has got serious problems.
:05:12. > :05:17.It is always good to talk to you and get your views.
:05:17. > :05:23.The world's biggest computing gaming event takes place in Los
:05:23. > :05:30.Angeles on Tuesday. Microsoft, Sony and Nintendo Showcase the latest
:05:30. > :05:36.products. Nintendo will reveal more about its new console at its press
:05:36. > :05:39.conference. Microsoft has unveiled a service to allow tablets
:05:39. > :05:49.computers and smart phones to communicate with its video games
:05:49. > :05:50.
:05:50. > :05:59.consoles. I'll talk to the editor in chief of ITN. -- IAG end. What
:05:59. > :06:03.are we expecting? It has been quite quiet. We were initially hoping for
:06:03. > :06:09.a new hardware announcements from Microsoft and Sony. They have not
:06:09. > :06:14.happened. All eyes will be on Nintendo. They will give away a lot
:06:14. > :06:21.more details on their new consort coming out later this year. Were
:06:21. > :06:26.are we expecting? They had showed of the innovative controller. Last
:06:26. > :06:32.year. This year they will be talking about the kind of games
:06:32. > :06:37.they will be launching. At the moment the controller is very much
:06:37. > :06:44.finger in the Air Staff. I am looking forward to seeing how the
:06:44. > :06:49.game companies will demand it. interesting stuff with Sony talking
:06:49. > :06:55.about collaboration with JK Rowling on the Harry Potter books. They
:06:55. > :07:04.have announced an interactive storybook. You plug-in a web camera
:07:04. > :07:09.to your PlayStation 3. The book springs to life. Using the
:07:09. > :07:14.controller you wave it around like a wand. You are essentially a witch
:07:14. > :07:18.in of wards. It will look a very innovative. That will help it bring
:07:18. > :07:23.a new audience to the console. something for Sony to look forward
:07:23. > :07:27.to. White has not been easy for these games companies. How
:07:27. > :07:34.difficult has the rise of the Tablet and gaining on and off
:07:34. > :07:40.phone's been for these people? launch of tablets and phones has
:07:40. > :07:50.been a massive impact on gaming. You can pick up games for as little
:07:50. > :07:52.
:07:52. > :08:00.as 69p. What is interesting is Microsoft's announcement uses the
:08:00. > :08:07.tablet to enhance your gaming. You can get information about the movie
:08:07. > :08:13.you are watching. I like the way Microsoft is using stuff you
:08:13. > :08:20.already have in your house to enhance your experience. Good to
:08:20. > :08:24.talk to you. Taking a look at some of the day's
:08:24. > :08:30.other business headlines. Qantas shares have plunged to an all-time
:08:30. > :08:35.low after the Australian airline warned profits could have go down
:08:35. > :08:42.90% this year. It said it is struggling with increasing fuel
:08:43. > :08:52.prices and industrial action. Its stock price went down as much as
:08:53. > :08:55.
:08:55. > :09:02.18%. To Goldman Sachs' Co has been in court testifying on the trial of
:09:02. > :09:10.their ex CEO. He is accused of passing
:09:10. > :09:15.confidential business information to hedge fund readers. The cases
:09:15. > :09:20.are all part of the biggest ever crack down on Wall Street. They
:09:20. > :09:27.involve scores of top executives. A more evidence that the European
:09:27. > :09:31.crisis is hitting retail spending, consumer spending will have fallen
:09:31. > :09:40.more than 1% across Europe. Taking a look at all the markets
:09:40. > :09:44.now. A better story in terms of what the Asian markets are doing.