:00:07. > :00:14.latest headlines from BBC World News.
:00:14. > :00:19.Time now for World Business Report. Hello and welcome to World Business
:00:19. > :00:23.Report. Here are the headlines: Tightening the Net. Europe's new
:00:23. > :00:26.cyber cops warn of the growing threat from online crime. Plus -
:00:26. > :00:36.France's labour deadlock. President Hollande calls for an historic deal
:00:36. > :00:41.
:00:41. > :00:43.between firms and unions as the Three quarters of Europe's
:00:44. > :00:48.population now use the internet compared to a global average of
:00:48. > :00:51.around a third. That growing dependence on the web is putting
:00:51. > :00:56.the region in increasing danger from cyber criminals, warn senior
:00:56. > :00:58.European detectives. They say individuals and businesses in the
:00:58. > :01:05.EU will face a rapidly growing threat from African fraudsters as
:01:05. > :01:15.the IT infrastructure there improves. The warning comes on the
:01:15. > :01:17.
:01:17. > :01:22.opening day of a new European cybercrime centre in Holland.
:01:22. > :01:25.Rising computer fraud now cost Europe 1.5 billion euros a year.
:01:25. > :01:30.Criminals are hacking into businesses and stealing from
:01:30. > :01:35.individuals. All around the world, side attacks are hitting the
:01:35. > :01:39.headlines. Threats can come from anywhere in the world. Today comes
:01:39. > :01:45.a warning that cyber criminals may find a particularly easy based in
:01:45. > :01:49.Africa. What you see in Africa it is that when you see the
:01:49. > :01:55.development increase in technology, you seabed African organised
:01:55. > :02:01.criminals and European organised criminals set up basis. There might
:02:01. > :02:06.be a weaker legal system and there. Foreign computer fraudsters will be
:02:06. > :02:14.a major target at the new European cyber-crime centre that opens today
:02:14. > :02:18.in The Hague. This is an example of a micro camera used by criminals.
:02:18. > :02:21.detectives know many of the tricks of the trade such as hidden mobile
:02:21. > :02:26.phones which transmits details of pin codes after filming them
:02:26. > :02:31.through tiny holes. They have also built a Faraday cage, a rumoured
:02:31. > :02:34.that wireless signals cannot penetrate. It prevent criminals
:02:34. > :02:40.from moving data remotely from devices that may contain evidence
:02:40. > :02:44.of fraud. This is the place to gather information, exchange best
:02:44. > :02:52.practices, do a joint analysis of pre assessments, but also a place
:02:52. > :02:56.where you could leave some evidence for forensic analysis. Officials
:02:56. > :03:01.here will now begin tracing communications that often stretch
:03:01. > :03:06.in a complex web around the world. In particular, they will be trying
:03:06. > :03:13.to protect Europe's banks and retailers and to safeguard personal
:03:13. > :03:17.data on websites like Facebook. Japan's Cabinet has approved a
:03:17. > :03:21.massive new stimulus package to boost the nation's flagging economy.
:03:21. > :03:28.The government will spend $116 billion on public works and
:03:28. > :03:32.financial aid for business. We can talk to our correspondent. What is
:03:32. > :03:41.happening with this latest stimulus? It is the latest in a
:03:41. > :03:47.long line. It is. It is really because the new Japanese government
:03:47. > :03:52.won a landslide victory last month. And the new Prime Minister came to
:03:52. > :03:59.power promising to do something to kick-start Japan's ailing economy,
:03:59. > :04:02.one that has been ailing for a very long time. He has announced today
:04:02. > :04:07.this very large chunk of cash that is going to be injected into
:04:07. > :04:12.Japan's economy in a very short amount of time, the next three
:04:12. > :04:18.months. It is to the end of the financial year. They will spend
:04:18. > :04:23.around $56 billion in new money on infrastructure spending mainly to
:04:24. > :04:27.try and kick-start the economy, to create up to 2% growth in GDP and
:04:27. > :04:34.over 500,000 new jobs. That is because Japan faces another
:04:34. > :04:38.election in the summer. It is for the upper house of parliament. He
:04:38. > :04:42.once the economy to be in a better shape ahead of the elections so
:04:42. > :04:47.that his party will be in pole position to win. A Japan has
:04:47. > :04:53.effectively had to two last decades. We have had infrastructure spending
:04:53. > :04:57.before and it did not work. Is this going to be any different? Well,
:04:57. > :05:02.that is a question a lot of economists are asking. In the
:05:02. > :05:07.short-term, this is a classic pump priming of the economy. It is a lot
:05:07. > :05:11.of money in a short space of time. Economists think it all work in a
:05:11. > :05:15.shorter amount of time but only for a limited amount of time. People
:05:15. > :05:19.are now asking, what more is this new government going to do? Is it
:05:19. > :05:23.prepared to take the tough decisions to structure reform
:05:23. > :05:26.Japan's over-regulated economy to open Japan's economy to foreign
:05:26. > :05:32.policy, to join a free trade partnership with the US? We don't
:05:32. > :05:36.know yet but we probably won't find out until after the elections in
:05:36. > :05:40.July. Those are the sorts of things but economists say Japan has to do
:05:40. > :05:44.if it is to have sustainable long- term economic growth rather than
:05:44. > :05:49.the short-term boost. One other thing the Prime Minister wants is
:05:49. > :05:52.the inflation target to be doubled. He wants high inflation in Japan
:05:53. > :05:59.because presumably that is going to knock down the value of the yen
:05:59. > :06:03.which would be good for Japan's exports. Yes. We have already seen
:06:03. > :06:06.that. The new Prime Minister has been quite effective at talking
:06:06. > :06:12.down the value of the end a promising that he is going to put
:06:12. > :06:16.pressure on the Bank of Japan to create more money to try to create
:06:16. > :06:22.inflation in the economy. The value of the inn has already dropped by
:06:22. > :06:27.quite a lot over the last month. -- the yen. That has already had an
:06:27. > :06:33.effect on Japanese exporters. They welcome that the break-up value of
:06:33. > :06:37.the yen and want to see it weaker. It is so they are competitive on
:06:37. > :06:40.the international market. Thank you. While Germany's Audi and BMW
:06:40. > :06:45.celebrate record sales in 2012, France's Peugeot Citroen is reeling
:06:45. > :06:47.from its worst year in more than a decade. For many in the French
:06:47. > :06:50.business community news from the car industry this week only
:06:50. > :06:54.underlines a wider reality that France is becoming less and less
:06:55. > :06:59.competitive. Today talks between employers and unions aimed at
:06:59. > :07:03.shaking up France's labour market are due to conclude. President
:07:03. > :07:07.Hollande has called on both sides to make a historic deal to make
:07:07. > :07:15.hiring and firing easier whilst also protecting workers' rights.
:07:15. > :07:22.But it's proving difficult. We will bring you more on that story as it
:07:22. > :07:24.develops throughout the day. In other business news this Friday,
:07:25. > :07:27.credit card giant American Express says it's cutting some 5,400 jobs.
:07:27. > :07:30.The deepest cuts will come in its travel business, an industry it
:07:30. > :07:34.describes as being fundamentally reinvented because of the digital
:07:34. > :07:41.revolution. The restructuring will cost it $600 million, slashing its
:07:41. > :07:45.fourth quarter profits by half. China's inflation rate jumped to a
:07:45. > :07:51.six-month high in December. Consumer prices were up 2.5% on the
:07:51. > :07:55.previous year, up from the 2% rate in November. The rise was largely
:07:56. > :07:58.down to the freezing winter pushing up vegetable prices. But higher
:07:58. > :08:00.inflation could make it harder for the government to support the
:08:01. > :08:10.economic recovery with interest rate cuts or other stimulus
:08:11. > :08:11.
:08:11. > :08:18.measures. Let's have a quick look at the
:08:18. > :08:22.market's. The Nikkei has been up on the stimulus package for Japan.