Browse content similar to 05/09/2012. Check below for episodes and series from the same categories and more!
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BBC World News. Now for the latest financial news with Sally and World | :00:02. | :00:12. | |
:00:12. | :00:17. | ||
Business Report. Hello and welcome to World Business Report. Crunch | :00:17. | :00:21. | |
time for Nokia - new phones are unveiled today. But will they be | :00:21. | :00:25. | |
good enough to win back customers? Talks restart to end the strike at | :00:25. | :00:28. | |
Lonmin's South African mine. Is the crisis scaring off international | :00:29. | :00:38. | |
:00:39. | :01:02. | ||
investors? Hello from Singapore. Resource prices plunge in Australia. | :01:02. | :01:06. | |
It is being billed as a make-or- break moment for Nokia. Today the | :01:06. | :01:09. | |
mobile phone maker will unveil its latest smart phones in New York. | :01:09. | :01:11. | |
They have been developed in collaboration with Microsoft which | :01:11. | :01:14. | |
has provided the operating software. If these phones fail to connect and | :01:14. | :01:20. | |
turn on users then questions will be asked about Nokia's future. | :01:20. | :01:25. | |
Nokia is the fallen giant of mobile phones. Investors have sheered and | :01:25. | :01:31. | |
the pain. The share price has pulled from $40 to $3 today. A | :01:31. | :01:35. | |
device rumoured to look similar to this could be their last chance for | :01:35. | :01:42. | |
revival. It will be the first and set to run on the Microsoft next- | :01:42. | :01:48. | |
generation operating system. His if this does not work, not cure it is | :01:48. | :01:53. | |
in a lot of trouble. The customers do not want it, it will be | :01:53. | :01:58. | |
difficult for them to go forward. Nokia's fate could be suggested in | :01:58. | :02:04. | |
this building in a trendy part of Manhattan were the product Tonge is | :02:04. | :02:10. | |
due to take place and a few hours' time. If four-smartphone the US | :02:11. | :02:15. | |
market is very important, it is also a market where Nokia has | :02:15. | :02:21. | |
failed to make much impression. It is not as Nokia that needs the | :02:21. | :02:26. | |
phone to succeed. Microsoft also has yet to prove it can stay | :02:26. | :02:30. | |
relevant as the focus of computing shifts from PCs and laptops to | :02:31. | :02:38. | |
smart phones and tablets. There is a lot of good will for Microsoft at | :02:38. | :02:43. | |
the moment. We're hoping the operating system will knock the | :02:43. | :02:51. | |
socks off. We will not get a second chance to make an impression. | :02:51. | :02:55. | |
unclear what a Windows eight phone will do what others can't but it | :02:55. | :02:59. | |
should be something special because computers are not standing still. | :02:59. | :03:05. | |
Next week, Apple will up the ante by unveiling a device that sums | :03:05. | :03:15. | |
:03:15. | :03:17. | ||
they will look like this, the next generation iPhone. Three-way talks | :03:17. | :03:19. | |
between the unions, Lonmin management and the government are | :03:19. | :03:22. | |
scheduled to resume today. The government is keen to end the | :03:22. | :03:25. | |
wildcat strike that's been going on for almost four weeks. But there's | :03:25. | :03:27. | |
anger among miners after police opened fire on protesters last | :03:27. | :03:30. | |
month, killing 34 people at the mine, and they are sticking to | :03:30. | :03:40. | |
:03:40. | :03:43. | ||
their wage demands. Razia Kahn is from Standard Chartered Bank. Good | :03:43. | :03:48. | |
news that they are talking, are you optimistic this will draw some good | :03:48. | :03:55. | |
conclusions to lurk we are hearing that the National Union of | :03:55. | :04:00. | |
Mineworkers are looking to bring forward the wage negotiations. | :04:00. | :04:06. | |
is despite being locked into a two- year agreement. Something needs to | :04:06. | :04:12. | |
be done after the tragic events, that is agreed. The need to given | :04:12. | :04:19. | |
for higher wages. Wildcat strikes have hit a lot of the industry. | :04:19. | :04:24. | |
Given the severity of what happened four weeks ago, and clearly it is | :04:24. | :04:28. | |
not resolved, is there enough pressure from all sides to see a | :04:28. | :04:33. | |
quick resolution. It must be having a damaging impact? There is | :04:33. | :04:38. | |
absolute the pressure for resolution. But the problem is the | :04:38. | :04:42. | |
President it must set. Already we have a situation where the | :04:42. | :04:47. | |
negotiation of wage agreements that had been entered into that was | :04:47. | :04:51. | |
supposed to have been fixed for some time, obviously, the industry | :04:51. | :04:54. | |
does not want to be seen as giving in to the demands for higher wages | :04:54. | :05:00. | |
at a time when there are under pressure from declining margins and | :05:00. | :05:06. | |
on and an uncertain economic environment. What's affect us all | :05:06. | :05:12. | |
this hurt on the South African mining industry in terms of the | :05:13. | :05:20. | |
perception internationally. These events do picked what international | :05:20. | :05:28. | |
investors think? There are growing concerns for the outlook of mining. | :05:28. | :05:35. | |
Typical. We have seen a lot of regularity -- regulatory | :05:35. | :05:41. | |
uncertainty. The very fact that recent events make it more strength | :05:41. | :05:45. | |
to the discussion around nationalisation will be a concern | :05:45. | :05:51. | |
to foreign investors. So Arthur Booker already accounts for 80% of | :05:51. | :05:55. | |
the world platinum reserves. There are not easy options for | :05:55. | :06:01. | |
diversification from that region. But for gold mining, suffered | :06:01. | :06:05. | |
because looked from being the top gold producer to fall into place | :06:05. | :06:09. | |
number six. This is having an impact on the investment the | :06:09. | :06:18. | |
country expects to receive that is a story we will keep a close eye on | :06:18. | :06:24. | |
today. Australia's economy is slowing down. In the second quarter | :06:24. | :06:28. | |
it grew 0.6%. But that's still not bad when you consider how many | :06:28. | :06:33. | |
European economies, including the UK, are shrinking at the moment. | :06:34. | :06:43. | |
:06:44. | :06:45. | ||
Rico Hizon is in the BBC's Singapore office. Australia has | :06:45. | :06:53. | |
been showing signs that things are getting tough? Absolutely, if you | :06:53. | :06:58. | |
compare the numbers with the Asian economies, if you stack them up | :06:59. | :07:03. | |
against developed economies, Australia still did welcome the to | :07:03. | :07:09. | |
the United States, European Union and Japan, up 6.3% in the previous | :07:09. | :07:14. | |
quarter. Consumer spending and public spending still the main | :07:14. | :07:18. | |
drivers of quarterly growth. Despite the solid economic | :07:18. | :07:23. | |
performance, the future is looking a bit more difficult. To to the | :07:23. | :07:27. | |
falling prices of key exports like iron ore and analysts say the | :07:27. | :07:32. | |
second up for the will be much more challenging. The growth in the last | :07:32. | :07:37. | |
quarter will be difficult to replicate. Is to drop a whip rates | :07:37. | :07:41. | |
steady yesterday at three-and-a- half %. The recent falls and | :07:41. | :07:48. | |
exports is leading to speculations the Reserve Bank will cut interest | :07:48. | :07:58. | |
:07:58. | :08:09. | ||
rates in October to keep up the momentum. So on news a row -- | :08:09. | :08:19. | |
:08:19. | :08:23. | ||
Lenovo. To finance their operations the operations they need cash. An | :08:23. | :08:30. | |
executive shrugged off a share sale, as a reflection of the company's | :08:30. | :08:37. | |
performance. It said it would not give back the laptop venture and | :08:37. | :08:44. | |
would be focusing on the Japanese market. The founder of Facebook | :08:44. | :08:50. | |
will not be selling his shares in the country for another 12 months. | :08:50. | :08:56. | |
That has and emerged and an official filing posted by the | :08:56. | :09:03. | |
country this week. Feed X is same weakness in the global economy is | :09:03. | :09:08. | |
hooting its business. It is making a sharp cut in its profits for the | :09:08. | :09:13. | |
current quarter. In June, it announced a cost-cutting drive to | :09:13. | :09:20. | |
boost performance. A hacker groups says it has stolen identification | :09:20. | :09:27. | |
numbers for hunt -- millions of Apple devices including i-Phones. | :09:27. | :09:36. | |
It says it obtained the information from an FBI at laptop. Markets | :09:36. | :09:40. | |
today, headed in one direction. It has been like that most of this | :09:40. | :09:46. | |
week. A lot of concern about what may or may not happen tomorrow. The | :09:46. | :09:50. |