:00:05. > :00:15.billion. Does a deal it is latest financial news in world
:00:15. > :00:19.
:00:19. > :00:24.business abroad. Thank you for joining us. Has the
:00:25. > :00:29.physical Cliff derailed America's jobs market? Payroll figures may
:00:30. > :00:33.confirm that the country is still on track for now.
:00:33. > :00:38.Asian stock market's retreat as enthusiasm fades over the last
:00:38. > :00:44.minute deal and the possibility that the Federal Reserve may change
:00:44. > :00:49.policy. Japanese stocks have soared. Plus, don't worry about a hard
:00:49. > :00:59.landing. We hear why many parts of the Chinese economy will continue
:00:59. > :01:02.
:01:02. > :01:07.to boom. As Washington's battle over tax and
:01:07. > :01:11.spending deterred US employers from hiring any staff? That is the key
:01:11. > :01:16.question for financial markets this Friday. America is releasing
:01:16. > :01:23.official payroll figures for December. Barely figures suggest
:01:23. > :01:27.the recovery is still on track, despite the problems. 150,000 new
:01:27. > :01:34.jobs for December is not enough to bring the rate any lower than 7.7 %
:01:34. > :01:42.but it does paint a picture of an economy that is slowly healing.
:01:42. > :01:50.More than 12 million Americans work in retail jobs. The nervous
:01:50. > :01:57.applicants hoped to join them. public relations work. Is it your
:01:57. > :02:02.first job in the till? No. I have fought for many fashion shops. I do
:02:02. > :02:08.a lot of retail workforce stop retailers to, lots of staff over
:02:08. > :02:14.the holidays. They have not stopped looking at American apparel. They
:02:14. > :02:21.are holding an open call to find new employees. This has been a
:02:21. > :02:29.difficult holiday season. We have hired a lot of seasonal workers. We
:02:29. > :02:33.are expanding into January for all of our stories. The motion to
:02:33. > :02:39.reconsider his Adelaide and the table. Would this mood of optimism
:02:39. > :02:47.and hiding last? Many Americans will see tax increases because a
:02:47. > :02:51.cut in payroll tax was not renewed. We will see some austerity kick in
:02:51. > :02:59.this year. Tax rates go up because of the payroll tax that has gone
:02:59. > :03:03.away. Markets have increased. It January will begin. As a result,
:03:03. > :03:09.consumers spending will soften. That could have a knock-on effect
:03:09. > :03:14.on the pace of jobs growth. The jobs picture is improving. American
:03:14. > :03:20.employers are cautiously hiring. There is still more work to be done.
:03:20. > :03:26.It would be a long time before the world's largest economy returns to
:03:26. > :03:30.the employment levels enjoyed before the great recession.
:03:30. > :03:37.Let's get more with the head of foreign exchange strategy from an
:03:37. > :03:43.thoughts on what you are expecting from this. We are expecting jobs
:03:43. > :03:50.growth this month. We are expecting something around the 160,000 mark.
:03:50. > :03:58.Above the original estimates. Markets expect the number to be a
:03:58. > :04:02.little bit higher. Things look a little bit stronger. Does that mean
:04:02. > :04:11.that employers weren't necessarily put off by all but wrangling that
:04:11. > :04:17.has been going on? Some employers would have been put off by concerns.
:04:17. > :04:22.There are some changes which are coming in. There are some headwinds
:04:22. > :04:27.going for it. The other point is the US labour market needs
:04:27. > :04:33.something in the region of 150,000 jobs every month to stand still.
:04:33. > :04:38.That, in effect, is probably what we will see. We need to see much
:04:38. > :04:43.faster job creation. That is if we want to reach the target Foster up
:04:43. > :04:46.we have had these minutes soured within the last 12 hours or so,
:04:46. > :04:50.suggesting some kind of divided opinion about what their strategy
:04:50. > :04:56.should be going forward in terms of supporting the economy and whether
:04:56. > :05:03.they should keep buying bonds there. If they get a good job report, does
:05:03. > :05:08.that mean we might see an earlier move? We are still getting away
:05:08. > :05:12.from the target levels that are being looked at. More than one
:05:12. > :05:16.percentage point away. We would need to see a substantial
:05:16. > :05:24.improvement in the labour market in the next quarter or so to get near
:05:24. > :05:28.that level. The Federal Reserve is concerned about the state off the
:05:28. > :05:36.buying one the balance sheet. It keeps getting larger. We still have
:05:36. > :05:43.some way to go until we see it. The leader of the Federal Reserve is
:05:43. > :05:51.very sure to make sure he does what is possible. Thank you very much.
:05:51. > :05:59.Let's go to Asia. That news from the US is still having an impact on
:05:59. > :06:05.the market. Rico Hizon is in the positive start on the Tokyo stock
:06:05. > :06:12.market to a. That is right. The only bright spot
:06:12. > :06:18.today on the original stock markets. At this point, most of them are all
:06:18. > :06:26.in negative territory. Enthusiasm is fading over this last minute but
:06:26. > :06:33.the deal. The Federal Reserve are showing concern about this policy.
:06:33. > :06:39.Investors are cautious about the job applaud. Japan's stock index is
:06:39. > :06:45.soaring on its first trading day. A weaker Yen against the US dollar.
:06:45. > :06:53.It is jumping by about to present to its highest level since March
:06:53. > :07:00.2011. The losses are minimal around the region. Recent data showing up
:07:00. > :07:04.in the services sector. On they are expanding in December. This has
:07:04. > :07:10.bright in the outlook for global economic growth in the first
:07:10. > :07:18.quarter of 2013. Thank you for that. Despite recent
:07:18. > :07:23.signs that growth is picking up, many investors are worried. There
:07:23. > :07:29.is the risk of a hard landing. We spoke to a veteran investor in
:07:29. > :07:38.Singapore. According to him, and many areas of the economy in China
:07:38. > :07:42.will be a much this year. It is just a matter of picking the right
:07:42. > :07:50.one. Yes, people would be unhappy when things slowdown.
:07:50. > :07:58.Some people are badly affected. Some parts of the Chinese economy
:07:59. > :08:04.are going to boom. Read the five- year plan. There are new materials.
:08:04. > :08:10.Alternative energy. We are pumping a lot of money in. Most parts of
:08:10. > :08:16.the economy will not know or care. They are doing so well. They are
:08:16. > :08:22.making so much money. Some parts of China Bills slowdown and other
:08:22. > :08:28.parts will be in. If we don't see any improvement in terms of supply
:08:28. > :08:32.and demand for food, there will be problems. What type of Agriculture
:08:32. > :08:41.will Mehta did you recommend? best thing to-do is to become a
:08:41. > :08:49.farmer. We have shortages of everything developing now. If you
:08:50. > :08:55.want to become a former, open a restaurant. Open a form. Farming
:08:55. > :09:05.will be an exciting business. Somes. Some people will suffer. If that does
:09:05. > :09:13.not happen, they will not have any freedom at any price. In Japan, we
:09:13. > :09:17.are running a to farmers. Many of them are ag them are agtudy
:09:17. > :09:22.agriculture. Old people are dying out. Young people are doing other
:09:23. > :09:32.things. We will not have any food at any price unless prices go
:09:32. > :09:41.Are Are the best times for commodities
:09:41. > :09:46.over? No. C over? No. Cgo higher. Thr higher. Thristory, the way
:09:46. > :09:51.they should protect yourself is to own your own assets. That is what
:09:51. > :09:55.is going to happen. If things go bad, and they're going to print