:00:05. > :00:15.because all the Exits apart from one were locked.
:00:15. > :00:16.
:00:16. > :00:21.Now for the latest financial news. Welcome. This is well Business
:00:21. > :00:24.Report. The headlines: Global markets await the next move from
:00:24. > :00:34.the Federal Reserve. Cannot give more stimulus to the US economy in
:00:34. > :00:35.
:00:35. > :00:41.the run-up to an election? -- can it gives.
:00:41. > :00:45.Some countries are making their decisions with Seoul announcing a
:00:45. > :00:55.decision. Intended struggles in a new world
:00:55. > :00:56.
:00:56. > :00:59.of smartphones and tablets. -- Nintendo.
:00:59. > :01:09.The eyes of global markets are fixed on the world's most powerful
:01:09. > :01:12.
:01:12. > :01:16.Central Bank. It concludes its meeting later today with an
:01:16. > :01:21.announcement. Some on Wall Street are hoping for a third round of
:01:21. > :01:26.quantitative easing, effectively printing money to spare borrowing
:01:26. > :01:33.and spending. Others predict it will take more modest steps with
:01:33. > :01:39.major economic stimulus in the final two weeks of a presidential
:01:39. > :01:44.election battle. America's economic recovery is
:01:44. > :01:49.pretty feeble right now. Housing remains weak, data and
:01:50. > :01:53.manufacturing and disappointing and the unemployment rate is above 8%.
:01:53. > :02:03.Enter Ben Bernanke. He is widely expected to do more to stimulate
:02:03. > :02:09.growth. With interest rates already near-zero, one option is to buy
:02:09. > :02:16.bonds. A side-effect of law rates is to encourage investors to place
:02:16. > :02:20.their money in riskier assets as they chase higher returns. Not
:02:20. > :02:28.everyone is convinced this would give much of a push to the housing
:02:28. > :02:31.sector. The issue is not how much lower rates are, but how can we get
:02:31. > :02:38.people to approve their mortgages today. All this quantitative easing
:02:38. > :02:42.has done nothing. Officials inside this building could call for -- go
:02:42. > :02:52.for a more measured response like extending the timetable for how
:02:52. > :02:57.long they plan to leave rates near- zero. Economic growth of 1.7%, some
:02:57. > :03:02.economists want the fence to do more. I think they have been
:03:02. > :03:08.weighted to mid. The keeper taking tiny steps and been disappointed.
:03:08. > :03:13.After being disappointed for a few years, they need to take a lesson -
:03:13. > :03:20.- a lesson and go big. All agree the US economy is growing
:03:20. > :03:23.too slowly. There's not much consensus on what to do. Even
:03:23. > :03:27.before they started the meeting, Republicans had criticised
:03:27. > :03:36.officials for their non- economy. During this election
:03:36. > :03:40.season, their decisions will be pored over.
:03:40. > :03:46.Markets are looking to central banks across the globe to do more
:03:46. > :03:56.to stimulate growth. South Korea kept its central banks and hold
:03:56. > :04:04.today. The government has announced other measures. Tell us more about
:04:04. > :04:08.what is going on in South Korea. was definitely a surprise decision
:04:08. > :04:14.by the Bank of Korea to keep rates on hold. The economy has been hit
:04:14. > :04:19.hard by the slowdown there. The government had announced a second
:04:19. > :04:24.stimulus package and this time the Central Bank will inject over $1
:04:24. > :04:27.billion into local banks. The money will be used to offer lower
:04:27. > :04:33.interest rate loans to small businesses. There are many critics
:04:33. > :04:37.who say this is not going to be enough. On Monday, the government
:04:37. > :04:45.announced a $5 billion stimulus package, including tax rebates to
:04:45. > :04:55.get people spending again. Indonesia and the Philippines's
:04:55. > :04:57.
:04:57. > :05:00.central banks were also making announcements. They are trading on
:05:00. > :05:05.a four want higher after a court ruling in Germany, which gave the
:05:05. > :05:13.country the green light to ratified the new stimulus package for the
:05:13. > :05:18.eurozone. It is good news for Asian exporters because the weak euro
:05:18. > :05:22.means stronger Asian currencies. That has heard their performance.
:05:22. > :05:27.The Bank of Japan will be making its rates decision next week. The
:05:27. > :05:36.owner told me the strength of the Japanese yen across the US dollar
:05:36. > :05:43.has been killing his business. Thank you.
:05:43. > :05:48.Let's look at a Japanese company now. Nintendo is expected to give
:05:48. > :05:53.details of its long-awaited new console, including its price and
:05:53. > :05:58.when it will go on sale. This is the successors to the hugely
:05:58. > :06:04.popular devices which have been in the market for the past six years.
:06:04. > :06:07.Nearly 100 million were sold worldwide. But in a new world of
:06:07. > :06:14.smartphones and tablets, and the new console ever match that
:06:14. > :06:18.success? The so -- success of we surprised
:06:18. > :06:22.even Nintendo. People bought his to keep fit or entertain dinner party
:06:22. > :06:28.guests. You could play sport indoors without breaking things.
:06:28. > :06:33.The concept was simple and the device was cheap. This is a year
:06:33. > :06:37.before the serious gamer. The player has two screens to work with.
:06:37. > :06:44.You now have this large screen in the middle of the unit which can be
:06:44. > :06:49.used for a number of things. If it is an adventure game, you will have
:06:50. > :06:59.a map on that screen. This will be much more involved. It will require
:06:59. > :07:05.more effort. Having shaken up the punters that games fares, it is
:07:05. > :07:11.expected to hit stores in mid- November. The price is expected to
:07:11. > :07:16.be about $600. More expensive than Sony and Microsoft's consoles.
:07:16. > :07:22.Nintendo has another problem. Worldwide sales of computer games
:07:23. > :07:26.consoles have fallen sharply. Down 40% over the past year alone. More
:07:26. > :07:31.people are choosing to play games on the smartphones because they can
:07:31. > :07:35.play them on the move rather than sitting in front of a static consul.
:07:35. > :07:41.That raises the question of whether Nintendo is launching its new
:07:41. > :07:47.device into a step letting market. I think it will be a hard sell to
:07:47. > :07:51.end on gaming market. I think it will be a fantastic product and
:07:51. > :07:58.make you think of gaming in a completely different way but I do
:07:59. > :08:04.not think it will translate into sales. This year, Minton the made
:08:04. > :08:08.its first loss for three decades. Sales would compound at problems.
:08:08. > :08:17.It might create such a buzz among game is that they abandon their
:08:17. > :08:25.smartphones and fullback in love with a big screen console.
:08:25. > :08:30.The defence and aerospace industry is still digesting plants of a
:08:30. > :08:36.merger. It would create a vast European rival to Boeing,
:08:36. > :08:43.overtaking it an annual sales. The plan is seen as a response to
:08:43. > :08:52.increased defence spending. The battle over an iconic Singapore
:08:52. > :08:58.beer brand is coming to a head. A 7.2 million dollar cash offer has
:08:58. > :09:03.been made. The bid comes two weeks before a meeting with shareholders
:09:03. > :09:09.to approve a takeover for the brewing business.
:09:09. > :09:13.Apple unveiled the 5th generation of its iPhone, which will go on
:09:13. > :09:20.sale on 21st September. It is thinner and lighter and has a
:09:20. > :09:26.larger screen and faster processor and is compatible with 4G networks.
:09:26. > :09:36.Analysts say there was little unexpected news about its. Apple's
:09:36. > :09:38.