:00:05. > :00:15.tackling its debt crisis. Those are the latest headlines. -- priest.
:00:15. > :00:18.
:00:18. > :00:24.Time for more financial news in Hello and a warm welcome. The
:00:24. > :00:30.headlines: At the G20 meeting in Mexico, European leaders tried to
:00:30. > :00:34.reassure the rest of the world they can fix the debt crisis. We will
:00:34. > :00:40.find out today at the US Federal Reserve is planning another boost
:00:41. > :00:46.for the World's largest economy. I am Rico Hizon in Singapore. A major
:00:46. > :00:56.media deal is happening in this really good. News Limited makes a 2
:00:56. > :01:00.
:01:00. > :01:06.billion dollar takeover bid for Good to have you with us. At the
:01:06. > :01:15.G20 meeting in Mexico, Euros will leaders did their best to ensure
:01:15. > :01:20.other countries that they were coping that the crisis. -- eurozone.
:01:20. > :01:26.Francois Hollande also said the bidders would discuss using the
:01:26. > :01:31.bail-out fund to buy up debt from struggling nations. -- leaders. Our
:01:31. > :01:36.correspondent has more. What those attending the summit, the risks
:01:36. > :01:41.were clear. Failure to deal with the debt crisis could push the
:01:41. > :01:46.global economy back into recession. It would be the second in four
:01:46. > :01:49.years. It would add to the pressure on European leaders. Spain is
:01:49. > :01:58.finding it increasingly difficult to persuade investors to back its
:01:58. > :02:05.debt. By Tuesday, it had to raise for the money. Given how high the
:02:05. > :02:13.stakes are, what was achieved? -- For the Money. Are we any closer to
:02:13. > :02:17.moving towards integration of the banking system? After the summit,
:02:17. > :02:21.Barack Obama said that the single currency union was one that had
:02:21. > :02:25.been set up without the necessary bells and whistles but this problem
:02:26. > :02:30.was being addressed. European leaders are also apparently
:02:30. > :02:35.considering buying up the debt of other distressed European countries.
:02:35. > :02:41.If true, this would be a change in position for Germany. Apparently
:02:41. > :02:47.Italy suggested the use of the rescue fund and France's Francois
:02:47. > :02:56.Hollande said that this was an idea worth exploring. No doubt we will
:02:56. > :03:00.hear more about this later. There has been growing optimism on the
:03:00. > :03:05.financial markets that the US Federal Reserve might take action
:03:05. > :03:11.to boost the EU economy. We will find out if that optimism is
:03:11. > :03:19.justified later today. There is certainly concern in the United
:03:19. > :03:25.States about flagging growth and high unemployment levels. Our
:03:25. > :03:30.correspondent reports from Washington. The Bank of the central
:03:30. > :03:34.bank does not look like a knight in shining armour. Many in the markets
:03:34. > :03:41.are counting on him to write to the rescue of the struggling economy.
:03:41. > :03:50.That's right. The US jobs market is weak. Industrial production is down.
:03:50. > :03:55.The debt crisis is casting a long shadow. Experts remain divided on
:03:55. > :04:00.whether the situation has got a bad enough to close the central bank to
:04:00. > :04:07.intervene with new stimulus measures. Some believe that policy
:04:07. > :04:12.makers are boarded enough to act now. I think they can sense anxiety.
:04:12. > :04:22.I think they know that the economy has been weaker than what they
:04:22. > :04:30.forecast three years in a row. That is unprecedented. I think they are
:04:30. > :04:39.wondering what else they can do. Can they do it? What are the
:04:39. > :04:46.politics? The most likely option is extending the current programme. It
:04:46. > :04:50.is intended to lower long-term interest rates. A decision about
:04:50. > :04:57.what action to take will be known at the end of the meeting with the
:04:57. > :05:03.policy makers. All eyes are on the Federal Reserve, the central bank.
:05:03. > :05:08.Republicans in Congress sate it has already done too much. Markets are
:05:08. > :05:18.seeing it has not done enough. Amid all these competing pressures, the
:05:18. > :05:22.Federal Reserve will have to decide which way it jumps later today.
:05:22. > :05:28.Rupert Murdoch's plan to expand News Corp in the UK has been
:05:28. > :05:34.frustrated by the phone tapping scandal. He is expected to expand
:05:34. > :05:42.elsewhere. There is a deal underway in Australia. Rico Hizon has more
:05:42. > :05:48.details. What is he up to? He wants to expand his media footprint in
:05:48. > :05:54.Australia. The Australian arm of News Corp has made a 2 billion
:05:54. > :06:04.dollar offer for a full takeover of Has alluded Nadir Holdings which is
:06:04. > :06:05.
:06:05. > :06:10.owned by James Packard. -- Consolidated Media Holdings. This
:06:10. > :06:17.would give them a large amount of control over paid television. James
:06:18. > :06:27.Packard has said he will support the move. Breaking a den, --
:06:28. > :06:30.
:06:30. > :06:37.50 % stake in Fox boards. News Corp holds a share. Fox Sports is a 50-
:06:37. > :06:41.50 partnership. According to analysts, the move to unload the
:06:41. > :06:48.media business means that James Packard and refocus his resources
:06:48. > :06:58.in casinos. He is a billionaire. He has stakes in casinos in London and
:06:58. > :06:58.
:06:58. > :07:06.Las Vegas are amongst other places. The News Corp board must approve
:07:06. > :07:10.this. This would be a major deal for them. We will keep an eye on
:07:10. > :07:14.that story. You would think that the debt crisis would put anyone
:07:14. > :07:20.off investing in the eurozone. Investment from overseas into the
:07:20. > :07:26.region last year, according to Ernst and Young, went up. The
:07:26. > :07:31.results of their story showed 4,000 projects were funded by overseas
:07:31. > :07:36.funds in 2011. That is an increase of two percent on the year before.
:07:36. > :07:42.The US is the biggest investor, with more than 1,000 schemes. We
:07:42. > :07:49.can speak to the head of Ernst and Young's advisory service now. He
:07:49. > :07:55.wrote this support for us. Thank you for being in the programme. --
:07:56. > :08:02.on the programme. Investment is on the rise, why? Despite the doom and
:08:02. > :08:09.gloom and a crisis, there is a confidence in you that's ability in
:08:09. > :08:19.the long term to sustain growth and largest economy in the world. The
:08:19. > :08:26.
:08:26. > :08:32.two percent of the wealth is there. Investors like that. They do not
:08:32. > :08:37.ignore the crisis. And these are individuals, organisations who are
:08:37. > :08:42.investing for a long period of time. The US is a big investor. Where
:08:42. > :08:48.else is investment coming from? Emerging markets are not only
:08:48. > :08:52.critical as markets. They are the source of many other factors.
:08:52. > :08:58.Investment projects have been increased by 22 % by the Chinese.
:08:58. > :09:06.They are investing in large numbers in the UK, Germany, France and
:09:06. > :09:12.southern Europe. They want to establish a long-term presence,
:09:12. > :09:19.acquired brands, acquire technology. They want to boost their domestic
:09:19. > :09:26.brand. brand. That is encouraging to here.
:09:26. > :09:32.Thank you. That is encouraging, isn't it? Let's look at the markets.
:09:32. > :09:36.Behind me, you can see gains across the board. A lot of this is in
:09:36. > :09:42.anticipation that the Federal Reserve may take further action to