:00:07. > :00:17.Those are the latest headlines. Now it is time for World Business
:00:17. > :00:20.
:00:20. > :00:23.Report. The headlines: If you can't find
:00:23. > :00:28.work, set up your own business. That's the message from the
:00:28. > :00:31.European Commission. We look at the hurdles facing the budding
:00:31. > :00:35.entrepreneur. After a successful bond auction,
:00:35. > :00:42.there is hope that Ireland will be the first country to exit their day
:00:42. > :00:47.out. Will we hear the Celtic tiger roar again?
:00:47. > :00:57.Phone maker Nokia has become the latest telecommunications company
:00:57. > :00:59.
:00:59. > :01:04.to face tax issues in India. How often have you considered that
:01:04. > :01:09.you might be better off if you became your own boss? As all of
:01:09. > :01:19.Europe absorbs yet another steep rise in its jobless, Brussels
:01:19. > :01:25.industry commissioner told television today that a huge number
:01:25. > :01:29.of entrepreneurs are needed to get Britain back into growth. Will an
:01:29. > :01:33.official initiative be well placed to create new firms and bring jobs
:01:33. > :01:38.and prosperity to Europe? We have been to visit one
:01:38. > :01:43.successful new enterprise to find out.
:01:43. > :01:50.So you have your samples here. We need more lemon thyme in them.
:01:50. > :01:52.new year, and a new mix a drink is in the making. This business has
:01:52. > :01:59.become a multi-million dollar turnover industry in seven years.
:01:59. > :02:06.The founder's big idea - creating quality mix has made with natural
:02:06. > :02:11.ingredients for spirits like gin and vodka. Surprisingly, Fever
:02:11. > :02:16.Tree's best export market is Spain. It has broken into a tough European
:02:16. > :02:26.food and drink market where others have failed. Only half of all new
:02:26. > :02:28.
:02:28. > :02:33.firms it survive their first five years.... Brussels is targeting
:02:33. > :02:43.more state action to encourage budding entrepreneurs. The EU's
:02:43. > :02:48.
:02:48. > :02:51.later start-up initiative targets dudes, women and migrants. I can
:02:51. > :02:56.see why they are targeting their grip but you have to be realistic.
:02:56. > :03:01.If someone has no business experience, if they don't have a
:03:01. > :03:04.good grasp of how business works and have cash flow works - these
:03:04. > :03:10.critical things that any business person needs to understand, their
:03:10. > :03:14.chances of success are very low. With 25 million out of work across
:03:14. > :03:20.Europe, it's easy to see why these programmes tend to target the
:03:20. > :03:27.jobless. It's a long-term economic truth that there are a small group
:03:27. > :03:32.of people and businesses with a track record and experience working
:03:32. > :03:35.in growth markets that contribute a disproportionate amount to the
:03:35. > :03:41.Health and well-being of economies. It is supporting those businesses
:03:41. > :03:48.and those people that is really the most effective for long-term,
:03:48. > :03:53.sustainable economic prosperity. Teaching citizens to be more
:03:53. > :03:59.entrepreneurial may not come easy. Success in business usually
:03:59. > :04:02.involves challenging and disrupting the usual order.
:04:02. > :04:07.Ireland has started the year with a successful bond auction, sparking
:04:07. > :04:11.hopes Dublin could become the first eurozone nation to exit a bailout
:04:11. > :04:15.programme. It sold 2.5 billion euros worth of long-term sovereign
:04:15. > :04:20.debt. There was such strong demand from investors who paid a
:04:20. > :04:24.favourable price for it. The amount raised represents one-quarter of
:04:24. > :04:34.the 10 billion euros that Orrell and hopes to raise on the market
:04:34. > :04:44.
:04:44. > :04:51.this year. -- Ireland hopes. Bond yields were rising, US bond
:04:51. > :04:57.yields, as we came into the new year. Suddenly we saw some high
:04:57. > :05:04.unemployment numbers in Europe. People were worried. They came at a
:05:04. > :05:14.good time for the Irish. But also, Orrell and is doing rather better
:05:14. > :05:20.
:05:20. > :05:24.than a lot of the periphery. -- Island is doing much better. They
:05:24. > :05:28.are taking over the EU presidency for six months. There is a lot
:05:28. > :05:31.going on in Dublin today and tomorrow. They have said that they
:05:31. > :05:35.are regaining the trust of financial markets. They have a lot
:05:35. > :05:40.more they want to sell this year in terms of sovereign debt. Do you
:05:40. > :05:46.think the worst is behind them? don't think the worst is behind
:05:46. > :05:50.Europe in general, but Ireland is part of that. I think the steps
:05:50. > :06:00.they have taken have made a huge difference. Of course, it's that
:06:00. > :06:06.slightly better feel coming in to 2013 than we had coming in to 2012.
:06:06. > :06:10.Everyone has a bit more optimistic that Europe can get through this.
:06:10. > :06:17.They seem better growth numbers. Things like there pm I figures have
:06:17. > :06:21.been better than most of Europe. The thing though, is the
:06:21. > :06:26.unemployment figures. For Ireland it is around 14%. Youth
:06:26. > :06:31.unemployment is much higher. It's the same story across Europe. Very
:06:31. > :06:35.bad in Spain. We just heard that piece about the fact that people
:06:35. > :06:39.are being encouraged to set up businesses. It will be a difficult
:06:39. > :06:44.problem to solve. Would you say that is the real black cloud
:06:44. > :06:48.hanging over Europe? I think stagnation is the black cloud
:06:48. > :06:52.hanging over us. Of course, unemployment is a reflection of
:06:52. > :07:00.that. It's probably going to go higher before it starts coming down
:07:00. > :07:08.again. We are not seeing growth. All that Ireland, probably when we
:07:08. > :07:16.look back at 2012, at least its positive -- although. Just the same,
:07:16. > :07:19.unemployment is a problem. Bronwen will be back in about five
:07:19. > :07:23.minutes to talk us through the headlines from the papers.
:07:23. > :07:32.Nokia has become the latest telecommunications company to face
:07:33. > :07:42.tax issues in India. What's going on for not here in
:07:43. > :07:43.
:07:43. > :07:48.India? -- Nokia.
:07:48. > :07:54.They are looking at the possibility that the country evaded more than
:07:54. > :08:04.540 million US dollars in taxes. These suspicions are centred on the
:08:04. > :08:05.
:08:05. > :08:14.Channel I plant, one of the company's largest facilities. --
:08:14. > :08:17.Chennai. Their shares dropped by 5% in Helsinki after the news of this
:08:17. > :08:23.raid. They are not the only multinational facing a tax probing
:08:23. > :08:31.of India. Vodafone received a new notice last week from tax officials
:08:31. > :08:34.that it owes more than 2 billion US dollars in back taxes. This has
:08:34. > :08:40.drawn criticism from foreign investors and analysts who complain
:08:40. > :08:44.that India's tax regime is causing confusion and may deter foreign
:08:44. > :08:51.companies from trying to develop the domestic market moving forward.
:08:51. > :09:00.More bad news for the Boeing dream liner? A 787 operated by Japan
:09:00. > :09:06.Airlines had to cancel its take-off because of a fuel leak. second it's
:09:06. > :09:11.the second problem affecting the dream liners in two days.
:09:11. > :09:14.The concern is involving the production methods. Certain
:09:14. > :09:17.problems have been identified with the manufacturing of the few lines
:09:17. > :09:25.and how they have been put together. This has the potential to cause
:09:25. > :09:31.fires -- fuel. Now an electrical problem has been discovered to,
:09:32. > :09:35.which has the potential to cause a fire. It's worrying for investors.
:09:35. > :09:40.Shares went down by about 3.5% as investors were concerned about what
:09:41. > :09:46.happens next. Very quickly to the markets: The