Browse content similar to 14/09/2012. Check below for episodes and series from the same categories and more!
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for more than a decade. Your chance to catch up with all | :00:18. | :00:25. | |
the latest in the world of business and money. Here are the headlines: | :00:25. | :00:30. | |
the Federal Reserve says it will put a $43 billion per month in the | :00:30. | :00:35. | |
US economy for as long as it takes. Asian markets rise after the | :00:35. | :00:40. | |
stimulus plans by the Federal Reserve. | :00:40. | :00:48. | |
Arguments brewing over Europe's banking reforms as London fears it | :00:48. | :00:56. | |
could be frozen out by Brussels. We will catch up with Singapore | :00:57. | :01:01. | |
very shortly, but first, and vicious, bold, aggressive and | :01:01. | :01:06. | |
political. Just some of the words being used to describe Ben | :01:06. | :01:15. | |
Bernanke's massive new stimulus plan. It is a good round of | :01:15. | :01:22. | |
quantitative easing. It has seen the Fed pump $43 billion per month. | :01:22. | :01:27. | |
They will purchase mortgage debt until the outlook for the labour | :01:27. | :01:33. | |
market improve substantially. The main indices on Wall Street rose to | :01:33. | :01:39. | |
their highest since 2007. But not everyone felt that love. One top | :01:39. | :01:43. | |
Republican called it a moved to help President Obama in November's | :01:43. | :01:51. | |
collection. We want to see more jobs, lower unemployment, a | :01:51. | :01:58. | |
stronger economy that can cause the improvement to be sustained. We are | :01:58. | :02:07. | |
not looking for her a temporary solution. As our New York Reporter | :02:07. | :02:15. | |
explains, it is the commitment to sustain it that has surprised the | :02:15. | :02:22. | |
market. It was widely anticipated. This latest commitment is open | :02:22. | :02:27. | |
ended. The Fed says it will produce $43 billion worth of bonds every | :02:27. | :02:34. | |
month until the economy is back on track. But how will that be | :02:34. | :02:39. | |
determined? Growth is well indicated. The economy is growing | :02:39. | :02:44. | |
at 1.7% per year. The housing market remains weak and | :02:44. | :02:51. | |
unemployment remains stubborn. Last month the US economy created far | :02:51. | :02:56. | |
fewer jobs than it needed just to keep up with population growth. The | :02:56. | :03:06. | |
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Fed also said it would keep until well into 2015. So those few | :03:08. | :03:16. | |
moves will provide a boost to the Obama White House. Ben Bernanke | :03:16. | :03:21. | |
also called on policy makers to play their part and said the Fed | :03:21. | :03:27. | |
alone could not solve America's economic problems. He called on | :03:27. | :03:31. | |
policymakers and politicians still debating the country's spending | :03:31. | :03:36. | |
plans to act together. He said that decisive action could be the only | :03:36. | :03:43. | |
way to get America's economy back on track. | :03:43. | :03:48. | |
Time to see how the Asian markets are taking this news. I have been | :03:48. | :03:53. | |
looking at the Asian market for it. All very positive. It seems the | :03:53. | :03:59. | |
enthusiasm is spreading across the region. | :03:59. | :04:04. | |
Indeed it is. Markets are all rising in this region. Investors | :04:04. | :04:11. | |
are hoping the measures will revive growth in the US economy. It is a | :04:11. | :04:19. | |
key market for Asian exports. There have been fears about the weak | :04:19. | :04:29. | |
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recovery. Naturally, Asian stocks are posting a good deal of gains. | :04:31. | :04:40. | |
Gains of over 2% for the Nikkei in Japan. It is looking at stocks that | :04:40. | :04:49. | |
are doing particularly well, it is the exporters mainly. Financial | :04:49. | :04:54. | |
shares are also doing well. A more positive there. But it is a | :04:54. | :05:00. | |
funny old story. There is a bit of a flipside to that. There are | :05:00. | :05:04. | |
concerns across Asia about all of this. | :05:04. | :05:09. | |
You can't ignore the slowdown in China's economy. That is the | :05:09. | :05:18. | |
world's second largest. It seems to be top most in the minds of most of | :05:18. | :05:24. | |
the people I have spoken to. It is putting something of a day and | :05:24. | :05:33. | |
we're on long-term market sentiment. -- debonair. They want to try and | :05:33. | :05:41. | |
stimulate a fresh wave of crows. -- Greece. China has cut its interest | :05:41. | :05:44. | |
rates twice in June to try and bring down borrowing costs for | :05:44. | :05:50. | |
businesses. They also are no ring the amount of money that businesses | :05:50. | :06:00. | |
need to keep in disarray. -- Loring. That is the update from Singapore. | :06:00. | :06:05. | |
Moving on. Finance ministers will gather in Cyprus to begin the task | :06:05. | :06:11. | |
of overhauling the way things are regulated in Europe. The plan was | :06:11. | :06:15. | |
put forward by the European Central Bank to be put at the helm of a | :06:15. | :06:24. | |
super-regulator for all of the euro currency zone. The countdown has | :06:24. | :06:30. | |
begun to try and get the details in place by the new year. But there is | :06:30. | :06:40. | |
:06:40. | :06:41. | ||
a lot to disagree about. Holders of the EU presidency hope | :06:41. | :06:48. | |
to benefit from the European Central Bank reforms. It could open | :06:48. | :06:54. | |
the door to cash going directed to troubled banks. But it would have | :06:54. | :07:01. | |
to be voted vast powers to close in monitor up to 6,000 vendors. -- | :07:01. | :07:11. | |
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closely. It it's alm support. -- gets almost universal | :07:11. | :07:16. | |
support. Some countries like the UK have not adopted the European | :07:16. | :07:20. | |
single currency. They could still see their banks police to, | :07:20. | :07:29. | |
paralysed and even closed down by the new regulators. This is | :07:30. | :07:34. | |
worrying many in the City of London. Their concerns are being raised by | :07:34. | :07:41. | |
British politicians. repercussions of it, the way that | :07:41. | :07:46. | |
the European Central Bank will make to late with the European lending | :07:46. | :07:51. | |
authority and the way in which future guidelines are fixed creates | :07:51. | :07:58. | |
a problem for those not in the eurozone. It is tantamount to a | :07:58. | :08:04. | |
block vote that will rule the day. The mechanisms that have been put | :08:04. | :08:09. | |
in place cone not sufficient safeguards in view of those that | :08:09. | :08:14. | |
are not in the eurozone. They could to fire in the view that of those | :08:14. | :08:22. | |
that are in the eurozone. -- Goto far. In Germany, the focus is | :08:22. | :08:26. | |
saving balance with their strong links to government. Reforms of the | :08:26. | :08:36. | |
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difficult for part of the government to gain access. If the | :08:37. | :08:40. | |
banking regulation will change it would be more difficult for them to | :08:40. | :08:47. | |
get access to credit. It could be more costly. Monetary union in | :08:47. | :08:56. | |
Europe needs its banking union. But the devil will be in the details. | :08:57. | :09:02. | |
You can hear more about the banking union on BBC Dwarf News on Saturday | :09:02. | :09:09. | |
and Sunday. The race is officially on to find a | :09:09. | :09:17. | |
replacement for Mervyn King when he retires next year. They are calling | :09:17. | :09:21. | |
for a person of a undisputed integrity and standing. That | :09:21. | :09:25. | |
appears to rule out any senior bankers here, tainted by the | :09:25. | :09:35. | |
:09:35. | :09:39. |