:00:01. > :00:05.and retail sales helped to lift the figures. Those are the latest
:00:05. > :00:15.headlines from BBC World News. Now for the latest financial news with
:00:15. > :00:19.
:00:19. > :00:22.World Business Report. Hello everybody. Welcome to the
:00:22. > :00:28.program, your chance to catch up on all the latest in the world of
:00:28. > :00:31.business and money. Let's take a look at the headlines: Good news as
:00:31. > :00:33.China's economy picked up over the last three months, but 2012 still
:00:33. > :00:36.saw the weakest growth in more than a decade.
:00:36. > :00:40.Did Greece's former finance minister take family members off a
:00:41. > :00:50.list of suspected tax evaders? Parliament calls for a criminal
:00:51. > :00:54.
:00:54. > :00:59.investigation. We will talk about that very
:00:59. > :01:07.shortly. China's economic growth picked up in the last three months
:01:07. > :01:15.of 2012. The economy grew by a better than expected 7.9% over the
:01:15. > :01:18.last quarter of 2012. On the face of it this looks like good news for
:01:18. > :01:22.the world's second largest economy, but it still means that growth for
:01:22. > :01:26.the year was its weakest since 1999. Damian Grammaticas joins us now
:01:26. > :01:36.from the industrial town, Wuhan, which is in central China. Great to
:01:36. > :01:37.
:01:37. > :01:47.have you with us. Some report finally rebounding from the 2008
:01:47. > :01:51.financial crisis. I have to ask you, are they feeling that rebound?
:01:51. > :02:00.is a very good at point. This is a pretty good place to come to take
:02:00. > :02:08.the temperature. China calls this a second here city, 6 million people.
:02:08. > :02:15.-- tier. It is a trading centre built around that the steel
:02:15. > :02:23.industry. This area is among the fastest-growing parts of China.
:02:23. > :02:32.There are vast building projects going on all around me. A new
:02:32. > :02:38.highway has been billed, a new metro line. -- built. But, and
:02:38. > :02:44.there is a big but, these figures mask a slowdown that has been
:02:44. > :02:49.happening in China's economy. We are growing at about 8%. Not the
:02:49. > :02:56.10% we have seen for over a decade. That is a shift China will have to
:02:56. > :03:00.get used to in the coming years. Absolutely. You talk about a shift.
:03:00. > :03:10.What kind of scope will these numbers give the policy makers in
:03:10. > :03:11.
:03:11. > :03:15.Beijing? Will they continue on the same path? I think what you will
:03:15. > :03:21.find, they will welcome these numbers. What the new leadership
:03:21. > :03:28.have been talking about, Xi Jinping, who is coming in and taking over,
:03:28. > :03:35.he has said he wants to focus less on high GDP numbers, but more on
:03:35. > :03:45.the quality of growth. To focus on changing the way China's economy
:03:45. > :03:46.
:03:46. > :03:54.works. Less reliance on state industries, building more consumer
:03:54. > :03:58.economies. Building up the middle class so they can spend more. That
:03:58. > :04:03.is what the leadership says it wants to do. This gives it the
:04:03. > :04:11.chance to take on that task. Whether they can push through their
:04:11. > :04:18.reforms, that is another question. Thank you.
:04:18. > :04:21.Time to get an update on Boeing's Dreamliner. US safety officials
:04:21. > :04:28.have arrived in Japan to inspect the 787 jet that made an emergency
:04:28. > :04:30.landing on Wednesday. The pilot of the All Nippon Airways plane made
:04:30. > :04:33.the landing after he smelled something burning and received a
:04:33. > :04:37.cockpit warning of battery problems. Let's go live to our bureau in
:04:37. > :04:43.Tokyo and join Rupert Wingfield Hayes. Good to see you. What is
:04:43. > :04:53.going on? What is the latest? Biasing the focus will be the
:04:53. > :04:55.
:04:55. > :05:01.lithium ion batteries? -- by ICM. That is right. They have arrived in
:05:01. > :05:06.western Japan to look at the aircraft. Japanese investigations
:05:06. > :05:12.had removed that battery pack from the aircraft. We have now seen
:05:12. > :05:21.pictures of that battery unit after it has been brought out of the
:05:21. > :05:27.aircraft. It has got a thick, black liquid out of the battery unit. It
:05:27. > :05:34.has trickled outside the battery unit. There is clear signs of
:05:34. > :05:43.burning. Very, very similar to what happened to the other 787 in Boston
:05:43. > :05:49.in the US last week. This is absolutely, the focus will be on
:05:49. > :05:55.the battery pack. What caused it to melt down? Is it a fundamental
:05:55. > :06:05.problem? Can it be replaced? Well they have to redesign this battery
:06:05. > :06:07.
:06:07. > :06:15.system? -- will. A lot of questions, a lot at stake for the airline.
:06:15. > :06:24.Thank you. Greece's parliament has voted to begin a criminal
:06:24. > :06:27.investigation of the former Finance Minister George Papaconstantinou.
:06:27. > :06:30.The inquiry will examine his handling of the so-called Lagarde
:06:30. > :06:33.List of suspected tax evaders - a list from which three of his family
:06:33. > :06:41.members were removed. If he stands trial, he could face up to ten
:06:41. > :06:43.years in prison. An overwhelming majority of MPs
:06:43. > :06:53.voted to investigate George Papaconstantinou. An opposition
:06:53. > :06:55.
:06:55. > :07:05.proposal to her throat another ex finance minister was rejected. --
:07:05. > :07:06.
:07:06. > :07:11.probe. Many suspected of tax evasion, three relatives were
:07:11. > :07:18.removed from Christine Lagarde's list. The scandal has incensed
:07:18. > :07:23.ordinary Greeks as they battle three new taxes. There is a
:07:23. > :07:26.widespread desire to punish the political class. George
:07:26. > :07:35.Papaconstantinou was already a hated figure as the finance
:07:35. > :07:42.minister who accepted painful austerity. He may become the first
:07:42. > :07:46.political victim since the financial crisis started. Let's
:07:46. > :07:53.move on. Photo sharing website Instagram brings in a new privacy
:07:53. > :07:56.policy this Saturday. That is tomorrow. The site, which was
:07:56. > :07:59.bought by Facebook last year in $1 billion deal, sparked a major row
:07:59. > :08:02.when it appeared to claim ownership of users' photos and reserved the
:08:02. > :08:05.right to sell them to advertisers. Instagram insists it was all a
:08:05. > :08:07.misunderstanding and has changed some of the wording in its terms
:08:08. > :08:10.and conditions. But one research company estimates the site has lost
:08:11. > :08:16.almost half its daily users in the past month, a figure Instagram
:08:16. > :08:25.disputes. I'm joined by Stuart Sumner, Editor of Computing
:08:25. > :08:35.Magazine. They changed some of the wording. I have been told you used
:08:35. > :08:40.
:08:40. > :08:50.to be a lawyer. It is as clear as mud. They are trying to get away
:08:50. > :08:55.
:08:55. > :09:01.from this perspective of saying, we are in -- own your data. We don't,
:09:01. > :09:06.but actually they do. Yes, they still are going to use it. Yes,
:09:06. > :09:16.they are going to make money any way they can. This is one way to do
:09:16. > :09:17.
:09:17. > :09:22.it. They do risk upsetting their users. At the same time, there is
:09:22. > :09:32.another side to the argument. Websites like Facebook have
:09:32. > :09:36.commercial concerns, they are not a charity. We are used to these
:09:36. > :09:42.websites, they are free, we can put photos on, we can speak to people
:09:42. > :09:48.around the world. But as you say, they have got to make money. Yes,
:09:48. > :09:57.they are not set up for our benefit. You have a choice, a lot of adverts
:09:57. > :10:05.on these websites or they are going to sell the photos you put in their.
:10:05. > :10:13.One way or the other they are going to make their money. Facebook's
:10:13. > :10:18.share price has fallen quite badly since it floated. Very briefly, I
:10:18. > :10:28.know they deny it, are we seeing a drop in the number of users? I have
:10:28. > :10:38.seen figures that Instagram have lost a lot of users. Facebook users
:10:38. > :10:45.have also dropped quite significantly in the UK. It could