Browse content similar to 23/10/2012. Check below for episodes and series from the same categories and more!
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Jimmy Savile. Those are the latest headlines from BBC World news. Now | :00:04. | :00:14. | |
:00:14. | :00:17. | ||
for the latest financial news with Hello and a warm welcome. You're | :00:17. | :00:22. | |
with World Business Report. These are the headlines: Facebook in | :00:22. | :00:25. | |
focus, the online networking company announces results later and | :00:25. | :00:31. | |
investors will be looking for something to like. I'm Rico Hizon | :00:31. | :00:40. | |
in Singapore, Australia's largest grain merchant will decide on a | :00:40. | :00:46. | |
multi- million pound takeover. And have to get more women in the | :00:46. | :00:49. | |
boardroom. Viviane Reding presents her controversial plan for quotas | :00:49. | :00:59. | |
:00:59. | :01:01. | ||
to the European Commission today. Good to have you with us. Back in | :01:01. | :01:05. | |
May, wearing his trademark jumper, Facebook's chief-executive Mark | :01:05. | :01:09. | |
Zuckerberg listed his social media company on the stock market. Since | :01:09. | :01:14. | |
then shares in Facebook have dropped 50 %. So today when it | :01:14. | :01:18. | |
announces its third-quarter results investors will be hoping they have | :01:18. | :01:25. | |
made some progress in boosting revenue. Not even six months ago | :01:25. | :01:30. | |
Mark Zuckerberg, sporting his Signature hoodie, took his social | :01:30. | :01:34. | |
networking site public. Facebook's popularity continues to grow. It | :01:34. | :01:39. | |
now has over 1 billion active users. But how successfully it has been | :01:39. | :01:45. | |
able to capitalise on all of those eyes is what investors want to hear. | :01:45. | :01:48. | |
People will be looking closely at their mobile revenues, whether they | :01:48. | :01:53. | |
are increasing, because that is seen as beaky existential issue for | :01:53. | :01:59. | |
the company right now. -- the key. His mobile revenues exceed the | :01:59. | :02:04. | |
forecasts that will help produce a big jump in the share price. | :02:04. | :02:08. | |
Increasingly people are checking face that on their mobiles, it is | :02:08. | :02:15. | |
the fastest growing part of the company -- Facebook on. Advertising | :02:15. | :02:25. | |
is very important. Tuesday's earnings report is a concern for | :02:25. | :02:28. | |
Wall Street, but also worrying is what happens on Thursday when | :02:29. | :02:33. | |
trading restrictions on stocks owned by a Facebook employees are | :02:33. | :02:36. | |
lifted, meaning they are free to sell. It's a flood of Facebook | :02:36. | :02:41. | |
shares hit the market all at once that could put more pressure on the | :02:41. | :02:44. | |
company. Liu, founder of the social internet fund, believes when it | :02:45. | :02:50. | |
comes to making money off social networking Facebook is just | :02:50. | :02:56. | |
scratching the surface. We are in the early days of social commerce. | :02:56. | :03:01. | |
Facebook will allow people to buy their friends in their social | :03:01. | :03:04. | |
network gifts over the Facebook network. That has a lot of | :03:05. | :03:09. | |
potential. It is those ideas that investors want to hear from Mark | :03:09. | :03:18. | |
Zuckerberg. Signs the young CEO has a plan for Facebook's future. It is | :03:18. | :03:22. | |
a multi-billion dollar deal in farming, with Australia's largest | :03:22. | :03:27. | |
seller of grain at the centre. This company's crinkled and it is | :03:27. | :03:31. | |
reviewing a takeover offer from the US agricultural giant Archer | :03:31. | :03:36. | |
Daniels Midland. To explain why this is significant, let's go to | :03:36. | :03:41. | |
Rico Hizon in Singapore. We know food prices are going up and | :03:41. | :03:48. | |
farming is a pretty hot industry at the moment. Tell us about the deal. | :03:48. | :03:52. | |
When you talk to analysts are they say that it is an offer that they | :03:52. | :03:57. | |
may have difficulty refusing. Others say that Archer Daniels | :03:57. | :04:02. | |
Midland may have to sweep in their offer because of the recent appeal | :04:02. | :04:06. | |
of agricultural companies due to rising demand for food from key | :04:06. | :04:12. | |
emerging markets, such as India and China. They also stress that the | :04:12. | :04:16. | |
extreme spike in the share price also signals that investors believe | :04:16. | :04:26. | |
:04:26. | :04:27. | ||
the business is worth more than is It is only an indicative price at | :04:27. | :04:32. | |
this stage. ADM are the biggest process of corn and they may have | :04:32. | :04:37. | |
the inside track because it already owns 14.9 % of Graincorp. This year | :04:37. | :04:41. | |
loan agricultural companies have been in major demand, they have | :04:42. | :04:45. | |
been takeover targets, you have Graincorp making a 6.2 billion | :04:45. | :04:51. | |
offer for a Canadian company and a trading house from Japan making a | :04:51. | :04:56. | |
$3.6 billion bid for an American company. According to the US | :04:57. | :05:01. | |
Department of Agriculture, and international grains, global trade | :05:01. | :05:05. | |
in wheat, barley and Queneau there is expected to double by 2050 and | :05:06. | :05:10. | |
Australia is also an exporter of many key commodities and it is the | :05:10. | :05:14. | |
world's second largest exporter of wheat. This deal will be discussed | :05:14. | :05:17. | |
by Graincorp's board of directors and shareholders, it looks like | :05:17. | :05:23. | |
they could be a bidding war for Graincorp's shares, apart from what | :05:23. | :05:28. | |
is already offered by Archer Midland Daniels. Perhaps the shares | :05:28. | :05:34. | |
could go even higher as a result of this bidding war. They were up 40 % | :05:34. | :05:38. | |
in Graincorp on Monday? That's right. They were up 40 % and many | :05:39. | :05:42. | |
traders and analysts expect a bidding war, the price could go | :05:42. | :05:52. | |
:05:52. | :05:52. | ||
higher. Asian grain companies may make a bid for the remaining shares | :05:52. | :05:56. | |
that ADM does not already own. right, thank you for joining us. We | :05:56. | :06:03. | |
will keep an eye on that. The European Union wants to see more | :06:03. | :06:06. | |
women on the board of major companies across the union, but | :06:06. | :06:10. | |
gaining support for the motion is proving difficult. Viviane Reding, | :06:10. | :06:13. | |
the European Commissioner for justice, will present her | :06:13. | :06:17. | |
controversial plan for mandatory quotas for women on non-executive | :06:17. | :06:22. | |
boards of listed companies today. But some member states are opposed | :06:22. | :06:28. | |
to the move. The boardroom is still a bastion of male dominance with a | :06:28. | :06:32. | |
staggering 86 % of male board members across Europe's biggest | :06:32. | :06:37. | |
companies. But the EU is proposing that by 2020 companies are forced | :06:37. | :06:41. | |
to ensure that at least 40 % of their board members are women. The | :06:42. | :06:45. | |
idea of forcing companies to increase the number of women who | :06:45. | :06:48. | |
sit on their board by a quota system has received stiff | :06:48. | :06:53. | |
opposition. A very large number of national governments are all | :06:53. | :06:56. | |
calling for a rethink of the proposal. With this level of | :06:56. | :07:00. | |
opposition the plan could certainly be blocked, there is hope the | :07:00. | :07:03. | |
European Parliament would be able to persuade member states to change | :07:03. | :07:09. | |
their attitude. In a letter sent to Viviane Reding, the EU's justice | :07:09. | :07:12. | |
commissioner, member countries stated that although they agreed | :07:13. | :07:20. | |
there needed to be a better keyboard measures to improve the | :07:20. | :07:30. | |
:07:30. | :07:31. | ||
situation should be taken by member states rather than the EU. Its | :07:32. | :07:35. | |
founder and macro cheek, Helena Morrissey, is against the quota | :07:35. | :07:40. | |
proposal. -- and CEO. Saying having different types of people with | :07:40. | :07:47. | |
different experience means we will end up with more effective force. | :07:47. | :07:56. | |
- effective boards. I am very anti- quotas where they are mandating an | :07:56. | :08:00. | |
arguably discriminating against another section of the population. | :08:00. | :08:05. | |
It is important to collaborate. I have learned from the 30% Club, you | :08:05. | :08:09. | |
need to pull people from other areas together, to achieve more | :08:09. | :08:13. | |
than individual actions. Although it is good news to have the | :08:13. | :08:17. | |
spotlight on this issue, it is unfortunate if we end up fighting | :08:17. | :08:21. | |
amongst ourselves when in the end we won the same result, a better | :08:21. | :08:26. | |
gender balance and more effective boardrooms -- we want. The move has | :08:26. | :08:30. | |
been welcomed by other nations to have already begun to redress the | :08:30. | :08:34. | |
balance. France, which is bringing in its own laws which will force 20 | :08:34. | :08:41. | |
% on its boards by 2014, and 40 % by 2017, has written to the | :08:41. | :08:45. | |
commission to say it is in favour of EU legislation. Belgium and | :08:45. | :08:51. | |
Austria have also given their support. Now this time yesterday I | :08:51. | :08:55. | |
was telling you to keep an eye on Yahoo because they were going to | :08:55. | :08:59. | |
release their results after the closing bell. Shares rose by more | :08:59. | :09:05. | |
than 4% and after hours trading showed a 2% rise in revenues in the | :09:05. | :09:10. | |
third quarter in the US. Under the leadership of Marisa Myer, its new | :09:10. | :09:15. | |
CEO, they were just over a billion dollars more profitable than the | :09:15. | :09:20. | |
same time last year. She pledged to pour more resources into developing | :09:20. | :09:24. | |
services for smart phones and tablet computers and improve their | :09:24. | :09:29. | |
search engine and e-mail service. The ratings agency Moody's has | :09:29. | :09:33. | |
downgraded the credit ratings of five Spanish regions by one or two | :09:33. | :09:43. | |
:09:43. | :09:43. | ||
notches each. They were all described by the ratings agency to | :09:43. | :09:48. | |
have poor liquidity and large maturing debt obligations, and they | :09:48. | :09:52. |