24/08/2012

Download Subtitles

Transcript

:00:17. > :00:22.believes its readers have a right Welcome to the programme. This is

:00:22. > :00:28.your chance to catch up on all of the latest Business News. The Greek

:00:28. > :00:33.Prime Minister will meet with the French President and German

:00:33. > :00:41.Chancellor. The big question is, will he be able to convince them to

:00:41. > :00:51.give him more time? Jacob Zuma sets out terms for an inquiry into the

:00:51. > :00:54.

:00:54. > :01:04.killing at the mine. A South Korean court reaches its ruling on the

:01:04. > :01:04.

:01:04. > :01:09.Apple and Samsung case. Let's talk eurozone first. Antonis Samaras

:01:09. > :01:12.will visit the German Chancellor later today in Berlin. He is

:01:12. > :01:19.expected to repeat his request for more time to honour the spending

:01:19. > :01:25.cuts that his country has promised to make. One Saturday, as he will

:01:25. > :01:29.make the same plea to Francois Hollande. Germany and France have

:01:29. > :01:39.put up a united front, stressing that grey smudge of -- must honour

:01:39. > :01:40.

:01:40. > :01:46.its commitment. Let starred -- let's start with the story behind

:01:46. > :01:52.all of this. At the news to come up with 11.5 billion euros worth of

:01:52. > :01:59.savings. -- Athens needs. This is the huge amount. This has been

:01:59. > :02:04.repeated. Antonis Samaras wants European leaders to stop talking

:02:04. > :02:12.about Greece lead in the euro. It is making it harder for him to push

:02:12. > :02:18.through plans. It was always going to be difficult. He has got a point.

:02:18. > :02:24.If people think Greece will leave, they will sell assets that might be

:02:24. > :02:29.valuable. On the other hand, this could be a bargaining tactic. Maybe

:02:29. > :02:36.he wants to buy time. I think he wants more time to have a chance to

:02:36. > :02:41.put his cuts and place. This is a time when a negative economy impact

:02:41. > :02:46.is affecting Germany. There is an element of bargaining, I believe.

:02:46. > :02:50.Ultimately, I think what Angela Merkel and Francois Hollande have

:02:50. > :02:54.in mind is the fact that they do not know if they are ready for a

:02:54. > :03:01.containment policy for Spain and Italy if Greece believes. We know

:03:01. > :03:06.that the Spanish plan is not in place yet. Clearly the issues have

:03:06. > :03:11.been put in the background with Italy. It is a very tricky

:03:11. > :03:18.situation in terms of time. In the next couple of weeks, there will be

:03:18. > :03:24.a lot of discussions. You mentioned the words tricky. How tricky does

:03:24. > :03:30.it become when we see numbers like we saw yesterday? The eurozone is

:03:30. > :03:36.shrinking. The big worry, this rot that started in the peripheral is

:03:36. > :03:41.starting to take hold in the likes of Germany and France. If the

:03:41. > :03:45.eurozone slips back into a second recession in three years, does that

:03:45. > :03:53.change the appetite for help and the likes of Greece?

:03:53. > :04:01.They have the problem is reaching Germany, Germany might be willing

:04:01. > :04:04.to negotiate. -- if the problem. This is all good in theory. If it

:04:05. > :04:13.is applied to strongly, the medicine will not kill the patient

:04:13. > :04:20.but it will be difficult to swallow. This is an issue that has a time

:04:20. > :04:25.when it. We are running out of time. -- limit. This is the result of a

:04:25. > :04:30.lack of swift decision-making and dramatic approaches. This is what

:04:30. > :04:37.we have seen in the US. There is the complication of having so many

:04:37. > :04:41.different countries. Different nationalistic outlooks. It is time

:04:41. > :04:47.to promote structural reforms and move on.

:04:47. > :04:51.We will be talking to you again in about ten minutes. Now let's take a

:04:51. > :04:56.look at newspapers. We always appreciate you on the shore.

:04:56. > :05:01.South Africa is a morning instead miners. They were victims of a

:05:01. > :05:07.crackdown by the security forces. President Jacob Zuma has set up

:05:07. > :05:10.terms for an inquiry. The dispute claimed the lives of 44 people. It

:05:10. > :05:15.began as a protest for wage increases for miners doing

:05:15. > :05:20.dangerous work. It has become something of a tug-of-war. The

:05:20. > :05:30.country is ill at ease with itself. This is 18 years after the end of

:05:30. > :05:33.apartheid. Miners come here in the northern

:05:33. > :05:39.province from all the country. It is simply because there is work

:05:39. > :05:43.here. There are complaints about conditions and wages. The men who

:05:43. > :05:51.won at the mine -- run the mindset that 4,000 people live in these

:05:51. > :05:56.hostels. Thousands of others leave end -- live in informal settlements.

:05:56. > :06:01.It depends on their pay grade. The conditions are basic, putting it

:06:01. > :06:10.mildly. I was shown around the area by this man, one of the striking

:06:10. > :06:15.miners. He said families here only had one rule for.

:06:15. > :06:25.Everything is here. Sometimes the water is not coming out. It is very

:06:25. > :06:29.difficult. Meetings are being arranged by striking miners and the

:06:29. > :06:33.management. This man is sympathetic to the problems of the miners. He

:06:33. > :06:40.is a German offer foundation which monitors the conditions of the

:06:40. > :06:48.workers. -- chairman. The living allowances are not sufficient. The

:06:48. > :06:56.workers are living in appalling conditions. This is not right, any

:06:56. > :07:01.employer must provide facilities for the workers. They must do

:07:01. > :07:07.better for the people. This has become far more than a dispute

:07:07. > :07:11.about wages. The ANC has been in power for 18 years. They are

:07:11. > :07:14.increasingly criticised for not delivering what jobs are public

:07:14. > :07:24.services. Its leaders are seen as elite and removed from ordinary

:07:24. > :07:30.people. They want to make more money.

:07:30. > :07:34.Politicians are not doing as much as they promised to do. The poor

:07:34. > :07:41.must be looked after. That is what they promised. Wealth must be

:07:41. > :07:46.shared. It has been an extraordinary and frightening week.

:07:46. > :07:51.It started with the killings at the mine and has ended with soul-

:07:51. > :07:56.searching over problems which affect the entire country.

:07:56. > :08:01.Our correspondent is an our Singapore office. Lots to talk

:08:01. > :08:06.about. Good to see you. We have got the biggest technology battle in

:08:06. > :08:12.history taking place. We are waiting for the verdict from the

:08:12. > :08:19.Judy in the US to do with Apple and Samsung. -- the jury. There is news

:08:19. > :08:26.from Korea already about the cases. That is right.

:08:26. > :08:34.The Seoul caps central -- Central Court has ruled on the patterned

:08:34. > :08:40.case. They ruled that Apple has infringed two patterns held by

:08:40. > :08:47.Samsung and Samsung has infringed on one held by Apple. Products held

:08:47. > :08:53.by both companies have been suspended from silt. This includes

:08:53. > :09:00.the iPad 4, the iPad 1. These infringed telecommunications

:09:00. > :09:06.patterns held by Samsung. Also, one of Apple's patterns has been

:09:06. > :09:11.infringed on, relating to screens and a bounce back ability. This

:09:11. > :09:14.includes various models of the cap galaxy. This story has captured

:09:14. > :09:21.headlines for several months. The penalties have been relatively

:09:21. > :09:28.small on both sides. Apple has paid Samsung just over $20,000. Samsung

:09:28. > :09:34.has paid a, just there were $35,000. Shares in Samsung are down. -- paid

:09:34. > :09:41.Apple. We are waiting for a decision from California. The jury