26/07/2012 World Business Report

can lay dormant for many years. Those are the latest headlines. Now

for the latest financial news. Hello. This is a World Business

Report. Headline is: Can Facebook live up to the hype? A severe bout

of nerves ahead of the first financial results since its

flotation. A management shake-up is set to

take place in Japan's largest broker. The eurozone crisis shifts

from Spain back to Greece. International lenders refused to

sign up more funds without further In a few hours time Facebook

reports its first quarterly earnings since it became a public

company. Shares are down some 25% since the company's $100 billion

market listing in May. With limited historical data available for the

social network, the numbers are hard to predict. But nerves were

seriously rattled late on Wednesday when Zynga - which publishes games

on Facebook - badly missed Wall Street estimates and slashed its

forecasts for the year ahead. Michelle Fleury has more from New

York. Facebook has more than 900 million users. For investors, its

growth appears to be slowing. The number of monthly visitors fell

from 166 million last November to just over 160 million. A 21-year-

old college student with a side business, this man is among those

who have charted his growth. Every second of Facebook you could be

having constructive business, legitimate advertising, raising

sales aura awareness. When the company went public to great

fanfare at its headquarters, the promise of continued growth was

supposed to justify its valuation. At Wall Street there are doubts.

They worry about Facebook's ability to generate money. Given how many

of us are on the side, this executive this the concerns are

overblown. We have 1 billion people who are addressable. I am less

concerned when a personal level about the earnings. The people who

were concerned about the earnings array investors. If I was investing

in Facebook I would be taking a longer view that the investment.

The company behind games that make money by a Facebook just reported a

loss. That does not hold well Four Marks that the bird and his team.

For Facebook it has been a rough ride. Share prices have fallen 25%

since its first day of trading. Investors still have doubts about

whether the social network can continue to grow its number of

users as well as revenue. It had a lot to prove with its first set of

the unease as a public company. -- earnings in after-hours trades fell

to a record low. The chief executive of the Japanese company

is poised to resign over an insider trading scandal. We cross to

Singapore. Tell us about this news. Another Maitland shake-up. You have

the C E O set to resign to take responsibility for lease of

information to clients. The company confirmed it was a source of leaks

and planned offerings by an energy company. It is currently awaiting

possible sanctions from financial's -- Japan's financial services

agency. Some asset managers have stop trading with the firm. It has

been left of the government's sale of $6 billion worth of shares. The

departure throws open the We will give an eye open for that

story. The British government is using the Olympics to attract

billions of dollars worth of business to the UK. It is turning a

building near Buckingham Palace into Webb business and deceive.

Thousands of entrepreneurs are being invited along in the hopes

they will invest large sums into the British economy. High on the

list for Chinese entrepreneur as visiting London is a tour of an

upmarket department store. It is a group being targeted by the UK

government as potential investors. Some might be keen. Most of my

friends in the business world, they think that if they have a nice

chance to invest here or may York they would do it. To encourage such

investors, my guest house is being turned into way British business

and the sea. -- Lancaster House. Over the next few weeks there will

be no fewer than 17 some it's here. It starts with a global investment

conference. Over 4,000 foreign business people will come here. It

is hoped they will invest $1.5 billion in the British economy. One

example is the reconstruction of a power station. The government

estimates the UK would get $20 billion worth of benefit from the

Olympics. We're not quibbling about specific numbers. A lot of thought

has gone into the area. It is plausible and realistic. Later this

week the Chinese will get their own summit at Lancaster House before

watching the opening ceremony. That will be a reminder that the UK

needs to see $14 billion worth of foreign cash to break even on the

Olympics. Europe's top oil producer is among the big names reporting

second-quarter earnings. Its US rival will report later. Lloyd's

banking group is also revealing how its profits are looking at the

moment. Shareholders are bracing for a drop in second-quarter

profits. They will face questions over their role of the in the LIBOR

rates. The eurozone's biggest bank could series down by 60% as it

rides of the value of some of its real estate assets. They will put

off the bulk of these write-downs until the Willoughby year. It will

make a profit of 3 billion euros in the first half of the year. Now I

look at what is going on as far as markets are concerned. The focus is

very much on Greece and what is going on there. These markets are

fairly flat at the moment. We will brief York in what is going on. The

President of the European Commission will visit Athens for

the first time in three years. It is a gesture of support and the

Prime Minister is desperately behind on finances. The euro is

languishing today at multi-year lows. It is based on the news that

the IMF may not release further bail-out Murray to Greece. I enjoy

and the smack I am joined. Real What can we expect in the near

future? They are putting off more money until they visit in September.

September will be the big month. Right now everybody is putting

pressure on everybody. The Germans and the IMF are putting pressure on

to deliver to the reforms. Greece is say the recession is deeper than

they had anticipated in March. They say the programme is of track. We

have for a renegotiation going on already. Before September, when the

rescue fund is in place and the Europeans will fill more

comfortable that they can deal with a further great crisis we will not

see their decisions. They're now saying it is inevitable that Greece

will exit the single currency. What is your thinking on that? September

is quite a way away. We have the whole month of August than of us.

This can cause all sorts of damage in the other countries. It is a

serious situation. It is unlikely that America would put another vote

on another bail-out for Greece in front of us Germany. With there is

no vote the what BA bail-out. Is there is no bail-out race will have