:00:01. > :00:11.Africa Cooperation in Beijing. Now for the latest financial news with
:00:11. > :00:17.
:00:17. > :00:22.The headlines: Fighting for survival: mobile phone company
:00:22. > :00:25.Nokia is set to announce more losses. Software giant Microsoft is
:00:25. > :00:35.expected to report its first-ever loss after a failed takeover of an
:00:35. > :00:41.
:00:41. > :00:51.online advertising firm. Production has been stopped in the largest
:00:51. > :00:53.
:00:53. > :00:58.It was the most dominant mobile phone maker in the world, but today
:00:58. > :01:00.more evidence will show just how much cash Nokia is bleeding. More
:01:00. > :01:04.losses are expected from the Finnish mobile phone maker when it
:01:04. > :01:08.reports second-quarter earnings in a few hours time. Slow to get into
:01:08. > :01:12.the smart-phone market - its Lumia phone has done little to turn the
:01:12. > :01:22.tide at the struggling company. Many now say Nokia is a prime
:01:22. > :01:22.
:01:22. > :01:30.takeover target. In a bid to become a major player in the global market,
:01:30. > :01:34.not yet teamed up with Microsoft t use its software. So far, the
:01:34. > :01:41.pairing has not worked. Despite lavish launches, the phones are
:01:41. > :01:48.less than 2% of the market. The firm lost 370 million euros in the
:01:48. > :01:55.first quarter. So hard at it finds to sell these bones, it has dropped
:01:55. > :02:00.the price of its and said to be $50 each piece. That does not make
:02:00. > :02:07.things easy. It has developed this with Microsoft and it has announced
:02:07. > :02:15.it will bring out a new operating system and Nokia has announced they
:02:15. > :02:18.need an entirely new handset to use the software. Sales of all existing
:02:18. > :02:24.handsets will be affected for the next four months. The Microsoft
:02:24. > :02:31.plan is to run Windows aged on all the new handsets from desktops two
:02:31. > :02:36.games to smartphones. By owls, storage, everything will work as
:02:36. > :02:40.won the ecosystem and that's great for Microsoft but unfortunately for
:02:40. > :02:46.Nokia, aiming to wait for this to happen to capitalise. Every time
:02:46. > :02:51.they think they get near that point, Microsoft changes and moves further
:02:51. > :02:55.away. They need commentators wonder whether Nokia will eventually
:02:55. > :03:01.lessen its dependency on Microsoft to strike up deals with other
:03:01. > :03:07.software providers. He may still see them in the future with an and
:03:07. > :03:12.drawing application and devices for other things like fire fox and
:03:12. > :03:17.another browser making its weigh into the mobile phones and has no
:03:17. > :03:22.reason why Nokia cannot support that. We will deliver a great
:03:22. > :03:27.product. Publicly they are happy with the alliance with Microsoft
:03:27. > :03:31.but relationships will be tested when it comes to launching the
:03:31. > :03:33.latest smartphones. Nokia cannot afford another loss. Coincidentally,
:03:33. > :03:37.Nokia's partner Microsoft also reports earnings today, along with
:03:37. > :03:41.its big rival Google. After a failed acquisition, Microsoft may
:03:41. > :03:45.be left with a loss - a first in its 26-year history as a public
:03:45. > :03:48.company. But it has many new product launches in the pipeline,
:03:48. > :03:58.including Windows 8, which the software giant has announced will
:03:58. > :04:00.
:04:00. > :04:04.go on sale on October 26. We report from New York. This was ahead and
:04:04. > :04:10.of the curve in the '70s with its designer jeans now they're at the
:04:10. > :04:14.forefront of another trend, technology. The computer comes
:04:14. > :04:20.loaded with operating systems and software products from Microsoft.
:04:20. > :04:28.It's a cash cow. Who tries to muscle in him. At this fashion
:04:28. > :04:34.house, they made the switch to Google e-mail and word processing.
:04:34. > :04:41.The staff is more acquit to work with Google applications because
:04:41. > :04:47.they use this at home. It's a good price very straightforward and
:04:47. > :04:53.simple. To hang on to the PC audience, while venturing further
:04:53. > :04:58.into mobile computing, Microsoft bets on its new system Windows
:04:58. > :05:03.eight designed for both tablets and computers. Investors hope it will
:05:03. > :05:11.be a hit after reaching a high of $60 and the share price for
:05:11. > :05:15.Microsoft is stagnant around $30. The recent announcement to write
:05:15. > :05:19.off more than $6 billion on the failed internet advertising
:05:20. > :05:26.acquisition did not inspire confidence. Technology analysts
:05:26. > :05:29.remain a believer. Microsoft has a history of investing into the
:05:29. > :05:35.marketplace and sticking with it. They will not innovate but they
:05:35. > :05:44.will play catch-up. They will get a share of the market. There are a
:05:44. > :05:49.number to in the two market race. It's not too bad. With its next
:05:49. > :05:54.generation Office software, Microsoft chief executive is
:05:54. > :05:56.looking forward to the future. In other news - the Financial Times is
:05:56. > :05:59.reporting that Credit Agricole, Deutsche Bank, HSBC and Societe
:05:59. > :06:05.Generale are all being investigated in connection with the rate-setting
:06:05. > :06:08.scandal that hit Barclays. Barclays has already been fined $450 million
:06:08. > :06:15.for manipulating the LIBOR rate and its chief executive - Bob Diamond -
:06:15. > :06:19.was forced to stand down. Profits at the online retailer eBay have
:06:19. > :06:22.doubled thanks to its PayPal internet payment business. Net
:06:22. > :06:27.income increased to $692 million for the three months to the end of
:06:27. > :06:30.June. In Spain, the biggest anti- austerity protests yet are planned
:06:30. > :06:32.for later today. The two main unions have organised 80
:06:33. > :06:37.demonstrations by public sector workers across the country starting
:06:37. > :06:46.this evening. The protesters argue the planned tax hikes and pay cuts
:06:46. > :06:48.are unjust and will do little to help the Spanish economy.
:06:48. > :06:51.Production has been stopped at India's largest car manufacturer,
:06:51. > :07:01.Maruti Suzuki, after protesting workers set fire to the plant and
:07:01. > :07:05.
:07:05. > :07:10.attacked managers. We report from Singapore. We have the details.
:07:10. > :07:20.This is quite a dramatic story. Explain what's going on in India
:07:20. > :07:20.
:07:20. > :07:24.at? According to the employees' union, objectionable remarks by the
:07:25. > :07:30.supervisor against an employee treated this violence. About 40
:07:31. > :07:38.people have been injured and one killed. Any sustained shutdown of
:07:38. > :07:44.this plant in India, in the north, it may be devastating for Suzuki
:07:44. > :07:50.which lost over $500 million production last year due to unrest
:07:51. > :07:57.which slashed its sales and market share. The plant accounts for one-
:07:57. > :08:01.third of the car manufacturing capacity of 550,000. Managers and
:08:01. > :08:06.executives were sent to hospital with injuries following the protest
:08:06. > :08:12.by the Workers' Union at the factory over the disciplinary issue
:08:12. > :08:21.with an employee. According to reports, Suzuki is keeping its
:08:21. > :08:30.facility shutdown. The shares have been hit as well. What about the
:08:30. > :08:37.deal today? The fastest growing beer and soft drink market is
:08:37. > :08:43.facing a major shake-up after the biggest brewer in Thailand
:08:43. > :08:51.purchased two companies. They agreed to buy the company for ent
:08:51. > :08:56.Singapore which makes Tiger beer. Its control by at high billionaire
:08:56. > :09:00.and he also owns companies ranging from insurance to property
:09:01. > :09:08.development. They say this investment by the group will expose
:09:08. > :09:18.the firm to be Gas south-east and Asian markets and consumer spending.
:09:18. > :09:18.
:09:18. > :09:24.They expect more consolidation in These are the markets in Asia, a
:09:24. > :09:29.strong session up across the board. The best session in Asia for a
:09:29. > :09:34.month. A lot is to do with positive sentiment about the Central Bank
:09:34. > :09:44.poised to help the US and China. Those central banks will help the