25/09/2012 World Business Report

Those are the latest headlines from BBC News.

with news, Hello and welcome to World Business

Report with me, Alice Baxter. European Central Bank chief Mario

Draghi goes on a charm offensive in Germany. But will they accept his

plan that the ECB should buy the debt of troubled euro governments

without limit? One of the world's largest crew

companies Carnival, released a financial results for the summer

season. We will get an indication of how the company's fared since

that fatal accident involving the cost Concorde ya. I'm in Singapore,

and the world's largest maker of computer components reopening its

had stopped operations. It had no impact on supplies.

Hello, there. Now the President of the European Central Bank, Mario

Draghi, starts a charm offensive in Germany today. He indicated that

the ECB would buy the debted euro government's difficulty without

limit, Germany was against it, in a minority of one. That is even

though Germany stands to pick up the biggest bill. To try the allay

fears, Mr Dragy has said that he would address the German parliament

and today he addresses the German Confederation of Industry.

The new high rise headquarters of the European Central Bank - topped

off only last week, at least 300 Will the EC Will the EC

overbudget with bailouts? The ECB is ready to do whatever it takes to

preserve the euro. Whatever it takes - that phrase

made German business shudder. The this business park in Berlin is

a huge cluster of high-tech companies. This is Germany's

in 450 companies, virtually a high- tech small town. New yarm industry,

but old German wor -- German industry, but old German worries -

inflation. They fear that ECB bond- buying adds up to printing money.

The question I will be asking Mr Draghi, how will you be able to put

the genie back into the botle? genie of inflation is all the talk

at the big conference of German business leaders, now underway.

These are the people who own and run German industry. They want

answers. It would be wonderful if Mario Draghi could explain the

logic behind the ECB's recent policy moves, and I think there is

a certain misconception in Germany about the role of Central Banks,

given that the Bundesbank quite legitimately has a point of view

German public. On the other hand, wider responsibility. I think it

would be helpful if Mario Draghi could explain he is not acting in

contradiction to the Bundesbank. the new ECB rises, Germans fear it

is overpowering their Bundesbank values. Can Mario Draghi reassure

them? Electronics manufacturer Foxconn has reopened its Taiwan

factory after Tuesday's forced closure. Ricoh Hizon is in

Singapore. Are we clearer as to why this fight broke out amongst

workers? Well, it was a brawl, Alice, and at

this point, Foxconn officials have said that it has resumed production

less than 24 hours after a ride that involved about 2,000 workers.

And the spokesman also said that despite the one-day closure, they

had spare inventories, and the there was no impact on supplies to

clients. But that I did not say any further what -- but they did not

say any further what started this whole riot. This particular

facilitate, which is located at Taiwan, in northern China, and

employs close to 80,000 workers and manufacturers, all the consumer

electronic parts, position mouldings and components for

Apple's latest iPhone size. Foxconn, the world's largest maker of can

computer component, has head issues over the last couple of years. It

ha 9 been criticised over conditions after a series of

workers committed suicide over the past two years.

And Ricoh, moving on to another story now. Shares in Glencore, the

commodities trader. They have been suspended in Hong Kong. Do we know

why? Well, it could be Xtrata-related.

We have to wait until the market closes in a few hours. The

commodities trader in short statement did not say much. It only

said it will soon release price- sensitive information. And this

move follows a ruling last week by Britain's take-over regulator,

which gives Xtrata a one-week extension to decide whether or not

to accept a revised Glencore offer of $3f billion. We have to wait

until after the market closes in Hong Kong.

Just a few hours to go, then. Ricoh, many thanks.

Now, one of the world's largest cruise companies Carnival will

shortly be releasing its financial results for the summer. That is the

peak season for cruises. It will give the best indication yet of how

the company's fared since the fatal accident involving the Concorde ya.

It is operated by costta. It was wrecked in the Mediterranean at the

start of this year. Jeremy Howell has this report.

Last January, the captain of the Costa Concorde ya sailed his ship

too close to an island in Italy and drove it on to rocks, 32 people

died. In the if financial quarter, since the disaster, it saw its

bookings dry up. It hz been filling its ships by offering big discounts.

The reputation is clearly damaged in most markets, particularly Italy,

its major market. The only way of getting people back on the ships

was through price. They lowered the price, they got

the bookings back. Obviously, they had lost a couple of months of

bookings in the immediate aftermath when they effectively stopped all

their advertising on the assumption that people would not come,

whatever they offered. Cruise holidays are normally seen

as bargains t. Generally, speaking they are cheaper than holidays

taken in hotels. Even so, the economic downturn in Europe means

fewer and fewer people can afford the tickets. Add to that the now

permanently high cost of fuel and it is small wondering that cruise

operators, like Carnival, feeling their profit margins squeeze, are

looking beyond markets of Europe to the feisty markets of east Asia.

You can move your assets whether you think you will make the most

money with cruise lines. Therefore, if the Mediterranean, if Europe is

looking bleak because of the economic downturn, well, you can

plan at least a year or two ahead to send them around to Asia, where

the emerging markets could be just what you need to boost your revenue.

But it may not be sensible to start moving cruise fleets eastward until

the markets are ready for them. It could take a few years to persuade

East Asian consumers to adopt that peculiarly Western pleasure - the

holiday cruise. Now to other business stories

making headlines. The International Monetary Fund will cut its forecast

for global growth this year. Christine Lagarde, the IMF managing

director, said the global economy is held back by the eurozone debt

crisis and the uncertainty of US government spending.

Defence ministers from Germany, Britain and France will meet this

week to discuss a potential merger of Defence firms EAE and BAe and

EADS. A report said that the three will meet in simple prus on

Wednesday or Thursday, creating the world's biggest aerospace form. But

the strategic importance of the firm could cause political

difficulties. Scandal racked Olympus and three of

its former top executives have pleaded guilty in court over

charges they covered up losses worth $1.7 billion. Stemming from

bad investments. Well, former President Kukukawa poolgdzed in

toky District Court and said this - Tokyo District Court and said that

he would take full responsibility for the crime which came to light

when his British successor blew the when his British successor blew the

whistle. In Asia, stocks are down across all