Browse content similar to 27/09/2012. Check below for episodes and series from the same categories and more!
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standoff over Mr Assange. Now for the latest financial news with | :00:02. | :00:12. | |
:00:12. | :00:27. | ||
World Business Report. Spain's borrowing costs surged above 6%. | :00:27. | :00:37. | |
:00:37. | :00:38. | ||
The US eases more economic sanctions on Burma. Another grim | :00:38. | :00:43. | |
quarter for Research In Motion. Will customers keep the faith will | :00:43. | :00:51. | |
go elsewhere for Blackberry. After a brief respite, financial markets | :00:51. | :00:56. | |
are once again piling the pressure upon Spain. In Madrid, the stock | :00:56. | :00:59. | |
market closed down almost 4% on Wednesday and the government's | :00:59. | :01:02. | |
benchmark borrowing costs - the yield on its ten year bond - surged | :01:02. | :01:06. | |
back above 6%. As you've been hearing, Prime Minister Mariano | :01:06. | :01:09. | |
Rajoy will try to win back some investor confidence today with a | :01:09. | :01:16. | |
tough budget for 2013 with some 39 billion euros of cuts and tax rises. | :01:16. | :01:19. | |
This against the backdrop of mass anti-austerity protests and a | :01:19. | :01:22. | |
growing assumption that Spain will have to seek a full financial | :01:22. | :01:29. | |
rescue. As if to underline this return of nerves on the markets, a | :01:29. | :01:32. | |
report this morning from Ernst and Young says the policy response to | :01:32. | :01:39. | |
the crisis falls short of being a game changer. It warns the | :01:39. | :01:41. | |
Eurozone's economy will get worse before it gets better, with | :01:41. | :01:45. | |
recession continuing into next year and unemployment continuing to rise. | :01:45. | :01:48. | |
And that deeper economic and fiscal union is needed to save the single | :01:48. | :01:55. | |
currency, as well as a shift away from austerity and towards growth. | :01:55. | :01:58. | |
And that deeper economic and fiscal union is needed to save the single | :01:58. | :02:08. | |
:02:08. | :02:17. | ||
currency, as well as a shift away from austerity and towards growth. | :02:17. | :02:25. | |
You are tempted to the CBD policy as a temporary sticking plaster. | :02:25. | :02:31. | |
The CBD cannot save the eurozone. It cannot kick-start growth again. | :02:31. | :02:37. | |
It cannot influence the stability of the eurozone. What we have seen | :02:37. | :02:42. | |
in recent days is a reflection of that. Investors were comforted to | :02:43. | :02:49. | |
know the scheme would buy bonds for the bail-out programme. But the | :02:49. | :02:54. | |
situation on the ground is one in which we have had fiscal austerity | :02:54. | :03:00. | |
in Spain. We have whole salt and companies trying to reduce to that | :03:00. | :03:05. | |
with rising unemployment. We saw the really on the markets when the | :03:05. | :03:10. | |
plan was announced. Yesterday we saw the index and Spain should 4% | :03:10. | :03:19. | |
suggesting markets have run out of patience? Markham's of waiting to | :03:19. | :03:27. | |
see if they will buy bonds from the Spanish government. Recession is | :03:27. | :03:31. | |
inevitable not. Will it have to go for it full bailout? It will have | :03:31. | :03:39. | |
to. They have done a lot in terms of fiscal austerity. It is not so | :03:39. | :03:43. | |
much that they need to do more, that they need the European Union | :03:43. | :03:49. | |
to dictate policies, and need outside monitoring, way of | :03:49. | :03:54. | |
guaranteeing they are on the right track. The CBD then can help them | :03:54. | :04:00. | |
by giving low-cost loans. In your report, the economy will have to | :04:00. | :04:04. | |
get worse before it gets better you say, unemployment will continue to | :04:04. | :04:12. | |
rise. Is that even it, for example, in Spain, we see it go for the full | :04:12. | :04:21. | |
bailout? There is a lot of work to be done in terms of reducing fat in | :04:21. | :04:27. | |
the public and private sectors. There need be have to take on more | :04:27. | :04:35. | |
stop. That means stagnation for some time to come. In the report | :04:35. | :04:42. | |
you talk about the need for fiscal and economic union to take place in | :04:42. | :04:48. | |
order for the common currency to be saved. Is that likely, and seeing | :04:48. | :04:52. | |
how unpopular any moves in this direction are going to be, | :04:52. | :04:57. | |
considering the protests in Spain and Athens. We do think it is | :04:57. | :05:03. | |
important to move towards a deeper integration. That is what will | :05:03. | :05:09. | |
eventually save the eurozone. The Greeks situation was potentially | :05:09. | :05:17. | |
very toxic if there is a belief that the country may use -- lose | :05:17. | :05:23. | |
the eurozone. We need to come out of that situation. We need more | :05:23. | :05:28. | |
policies around banking and fiscal union. You're in favour of further | :05:28. | :05:33. | |
growth in moving away from austerity? We think it is time to | :05:33. | :05:43. | |
:05:43. | :05:45. | ||
think about growth and other measures rather than austerity. | :05:45. | :05:49. | |
US is planning to ease its ban on imports from Burma. It's a key step | :05:49. | :05:57. | |
in the country's emergence from political and economic isolation. | :05:57. | :06:05. | |
This is it news? It is big news for their mud. Mrs Clinton announced | :06:05. | :06:10. | |
the move during talks with the Burmese President of the UN General | :06:10. | :06:15. | |
Assembly. It is among the last major trade sanctions that have | :06:15. | :06:20. | |
been in place. She said the move recognised continued progress | :06:20. | :06:25. | |
towards reform and Boomer. We have also been hearing from a powerful | :06:25. | :06:30. | |
figure who recently hit US sanctions against him that it. | :06:30. | :06:35. | |
Saying the government wants to establish a multi-party democratic | :06:35. | :06:40. | |
system and a market economy. This could not come at a more opportune | :06:40. | :06:45. | |
time, as the President who leads a nominally civilian government | :06:45. | :06:50. | |
following the elections is due to speak at the UN General Assembly. | :06:50. | :06:54. | |
Under his administration, many political prisoners have been freed. | :06:54. | :07:04. | |
Censorship has been eased. Mrs Clinton said she hopes the move | :07:04. | :07:10. | |
would give the Burmese people more opportunities to sell to the US | :07:10. | :07:16. | |
market. More good news as well for Burma, according to a report, | :07:16. | :07:19. | |
lenders are saying they may plead to million dollars to the country | :07:19. | :07:24. | |
winning the eight in Tokyo next month. That includes the World Bank | :07:24. | :07:29. | |
and the IMF. They say they will lead to Boomer the amount that will | :07:29. | :07:36. | |
support its economic development. - - Burma. Blackberry maker Research | :07:36. | :07:39. | |
In Motion releases second-quarter results after the markets close. | :07:39. | :07:41. | |
Investors are braced for more losses as it struggles with | :07:41. | :07:45. | |
competition from Apple and Android based phones. After a tough few | :07:45. | :07:48. | |
years, RIM is now pinning its hopes on new handsets and a new operating | :07:48. | :07:54. | |
system called Blackberry Ten to revive its fortunes. But, as Ben | :07:54. | :07:57. | |
Thompson reports from New York, customers will need to be patient | :07:57. | :08:00. | |
as it won't be ready until after Christmas, and by then, many may | :08:00. | :08:10. | |
:08:10. | :08:12. | ||
have gone elsewhere. The most powerful man in the world trusts | :08:12. | :08:16. | |
Blackberry to send and receive e- mails. But even its popularity with | :08:16. | :08:22. | |
government and business has not been enough to stem losses that its | :08:22. | :08:27. | |
maker Research In Motion. A tough few years for the company. It has | :08:27. | :08:31. | |
lost a few chief executives. Has suffered several major outages in | :08:31. | :08:37. | |
the service. And it has seen its market taken over by rivals like | :08:37. | :08:40. | |
apple and Samsung who have been quicker to adapt to changing | :08:40. | :08:50. | |
:08:50. | :08:51. | ||
consumer demand. There is a stigma attached to entity and Blackberry. | :08:51. | :08:57. | |
It is getting past that perception. BlackBerry says its market is still | :08:57. | :09:04. | |
growing. Last year it added another 2 million subscribers, taking its | :09:04. | :09:08. | |
total to 18 million around the world. That is thanks to its | :09:09. | :09:12. | |
emerging markets with new it cheaper handsets. That could come | :09:12. | :09:18. | |
at a cost. It may now have more subscribers, but with each one | :09:18. | :09:23. | |
paying less it would dent profits in the future. Can Research In | :09:23. | :09:28. | |
Motion win back its more lucrative customers. It will unveil a | :09:28. | :09:34. | |
revamped operating system and Beazer handsets next year. But what | :09:34. | :09:37. | |
I find and not here all launching new devices in the run-up to | :09:37. | :09:43. | |
Christmas, many are afraid it could be too little too late. In a market | :09:43. | :09:48. | |
dominated by speed and change and innovation, persuading customers to | :09:48. | :09:58. | |
:09:58. | :10:02. | ||
simply wait could be difficult. Looking at the markets, the Asian | :10:02. | :10:06. |