Browse content similar to 07/02/2013. Check below for episodes and series from the same categories and more!
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Report. A nerve-wracking day for Boeing as US regulators report on | :00:07. | :00:16. | |
their safety investigation into the grounded 787 Dreamliner. Plus - the | :00:16. | :00:19. | |
Eurozone's new crisis - could the rising Euro scupper the region's | :00:19. | :00:25. | |
economic recovery? It's a key concern for the European Central | :00:25. | :00:34. | |
Bank as it meets later today. Welcome to World Business Report. | :00:34. | :00:44. | |
:00:44. | :00:55. | ||
Also - as the year of the snake looms, the Bank of China prepares | :00:55. | :00:58. | |
for the rising demand for cash and pumps billions into the financial | :00:58. | :01:08. | |
system. A crucial day for plane maker Boeing. American air safety | :01:08. | :01:11. | |
regulators are due to give an update on their investigation into | :01:11. | :01:14. | |
the faults with the 787 Dreamliner. All Dreamliners were grounded last | :01:14. | :01:18. | |
month after incidents where the on- board batteries caught fire. | :01:18. | :01:21. | |
Investigators say overheating is to blame, but can't say exactly where | :01:21. | :01:25. | |
the fault lies. On Wednesday, the head of the National Transportation | :01:25. | :01:28. | |
Safety Board in the US warned they were probably weeks away from | :01:28. | :01:33. | |
completing the probe. Meanwhile, the costs for Boeing continue to | :01:33. | :01:43. | |
:01:43. | :01:45. | ||
spiral. These pictures from the air safety investigators in Japan show | :01:45. | :01:49. | |
the charred remains of the back foot on board the Dreamliner which | :01:49. | :01:55. | |
caught fire when the plane was flying 10,000 metres high. The | :01:55. | :01:58. | |
passengers were put through an emergency landing. After this all | :01:58. | :02:03. | |
53 miners were grounded. US transport regulators are | :02:04. | :02:07. | |
investigating a battery fire which broke out on a Dreamliner at Boston | :02:07. | :02:11. | |
airport. They think overheating is to blame but say it could be | :02:11. | :02:16. | |
several weeks before they know why it happens. This is ominous for | :02:16. | :02:22. | |
blowing. The long it takes to discover the exact cause of the | :02:22. | :02:28. | |
batteries overheating and catching fire, it will take a fair amount of | :02:28. | :02:33. | |
time to find a solution. If there is a fundamental problem with the | :02:33. | :02:37. | |
factories, how long could the Dreamliner of the grounded? If it | :02:37. | :02:41. | |
is a fundamental design for a could be very serious. It could stretch | :02:41. | :02:47. | |
out to a month. The Dreamliner contains two lithium ion batteries | :02:48. | :02:51. | |
chosen for their lightness. One starts the engine and the other | :02:51. | :02:57. | |
provides reserve power. Boeing executives have been defending the | :02:57. | :03:02. | |
decision to use them. The air have been issues but we have carefully | :03:02. | :03:08. | |
analysed everything. Went through the positive certification. We | :03:08. | :03:13. | |
believe that is the right choice. We want to find out what happened | :03:13. | :03:18. | |
with the batteries. The tree mine has a longer range than any other | :03:18. | :03:22. | |
passenger plane and it has won 800 orders. No airline has yet | :03:22. | :03:26. | |
cancelled its order but it faces compensation claims running into | :03:26. | :03:30. | |
the billions of dollars from carriers who have paid to ground | :03:30. | :03:33. | |
the tree miners and from others who have had their planes delivered | :03:33. | :03:43. | |
:03:43. | :03:45. | ||
late. Despite some nerves over the last couple of days, the euro has | :03:45. | :03:50. | |
been on a roll. The easing of the eurozone debt crisis has sent the | :03:50. | :03:53. | |
currency to its highest in more than a year against the dollar and | :03:53. | :03:56. | |
the pound and its strongest in almost 3 years against the Japanese | :03:56. | :03:59. | |
yen. This return of confidence has raised concerns it's starting to | :03:59. | :04:01. | |
make European businesses less competitive and could choke off the | :04:01. | :04:03. | |
region's economic recovery. Global markets, then, will be watching | :04:03. | :04:06. | |
European Central Bank chief Mario Draghi closely today at his monthly | :04:06. | :04:15. | |
policy meeting. Will he try to talk down the euro? Christian Schulz is | :04:15. | :04:22. | |
from Berenberg Bank. Do you think he will say anything that might | :04:22. | :04:28. | |
ease this problem for European businesses? You get questions at a | :04:28. | :04:33. | |
press conference but I do not think he will send any kind of signal, | :04:33. | :04:38. | |
whether he is happy or not with the appreciation. I think it is a | :04:38. | :04:44. | |
positive thing. It puts confidence in the euro and it could have an | :04:44. | :04:48. | |
impact in the long-term for European exports. What about | :04:48. | :04:54. | |
interest rates? There are a lot of people thinking that the EU might | :04:54. | :04:59. | |
cut rates to support the economy. We think it will not cut rates. | :04:59. | :05:06. | |
Economy is improving, that could spill over into deflation. By the | :05:06. | :05:10. | |
end of the year, with the economy may be takes off, they might be | :05:11. | :05:16. | |
discussing a rate hike rather than a rate cut. In terms of what is | :05:16. | :05:19. | |
happening with the euro, it has been strengthening and that has a | :05:19. | :05:25. | |
lot to do with other currencies weakening. The pound has weakened a | :05:25. | :05:35. | |
:05:35. | :05:36. | ||
lot. Talk to us about that. We get a new central bank governor in the | :05:36. | :05:42. | |
UK in July. He is a Canadian and has a North American tradition of | :05:42. | :05:46. | |
money printing. He is an expectation he may be more creative | :05:46. | :05:54. | |
than the current manager about how to support the economy. They -- | :05:54. | :05:59. | |
they may include more money printing. Today he is being grilled | :05:59. | :06:04. | |
here in London by Members of Parliament about his plans? | :06:04. | :06:10. | |
Hopefully, they will ask Camelot of questions about the nominal growth | :06:10. | :06:15. | |
target instead of the inflation target the bank has. He has given | :06:15. | :06:20. | |
some interesting speeches. These are can sexual questions us | :06:20. | :06:24. | |
economists will be looking to follow. But they all will also be | :06:25. | :06:31. | |
questions on salaries. What is your take on the eurozone debt crisis in | :06:31. | :06:36. | |
general. They have got elections for Italy coming up soon. Lot of | :06:36. | :06:41. | |
concern about who may get back into power. We have the Spanish Prime | :06:41. | :06:48. | |
Minister under a lot of pressure, calls for him to resign because of | :06:48. | :06:52. | |
concerns about corruption. Are you worried about where Europe is | :06:52. | :06:58. | |
heeded? We have had a few months of relative calm. We have had a | :06:58. | :07:03. | |
consensus with the CBD supports the country's and helps the crisis | :07:03. | :07:08. | |
countries reform themselves. The biggest near term risks are the | :07:08. | :07:13. | |
Italian elections because they might risk the consensus. If they | :07:13. | :07:18. | |
go backwards with reform may make got a consensus we have. That is | :07:18. | :07:23. | |
why markets are nervous. The good thing is elections will happen in | :07:23. | :07:29. | |
two weeks. So not too much uncertainty there. We think Italy | :07:29. | :07:33. | |
will probably return to the fault and we will return to come of | :07:33. | :07:40. | |
waters. Germany, a big idea for Germany they have the elections. | :07:40. | :07:44. | |
You are faced in Germany. What is the feeling about how Angela Merkel | :07:44. | :07:49. | |
is playing the situation. She does have to look at the domestic | :07:49. | :07:55. | |
scenario? Europe is very important for her election chances. If she is | :07:55. | :07:59. | |
seen as the person who fix the Europe crisis that will help her | :07:59. | :08:05. | |
election chances. At the moment, things are looking good. She is | :08:05. | :08:08. | |
popular in the polls. But she will need a Coalition partner for | :08:08. | :08:13. | |
September even if she wins. Who that will be will be the | :08:13. | :08:20. | |
interesting question. Overall, good situation for Angela Merkel and the | :08:20. | :08:29. | |
country is returning to growth. Bank of China is anticipating a | :08:29. | :08:32. | |
week of big spending during the New Year celebrations and boosting the | :08:32. | :08:35. | |
financial system to cope. Rico Hizon is at our Asia Business Hub | :08:35. | :08:45. | |
:08:45. | :08:47. | ||
in Singapore with the details. The year of the snake will start with a | :08:47. | :08:55. | |
big spending spree? That is what the central bank is hoping. That | :08:55. | :09:01. | |
mainland as well splurge. Hopefully on gifts, eating out with family | :09:01. | :09:07. | |
and friends and buying new clothes. The Chinese people have this belief | :09:07. | :09:11. | |
buying new things and getting rid of old ones sweeps away all the bad | :09:11. | :09:19. | |
luck. With these beliefs, the People's Bank is infusing $138 | :09:19. | :09:23. | |
billion into the financial system. Economists keeping their fingers | :09:23. | :09:28. | |
crossed it could give the domestic economy a major boost this quarter. | :09:28. | :09:33. | |
When you speak to sceptics, they say the austerity drive launched by | :09:33. | :09:40. | |
the new Chinese leadership, coupled by the slowdown could leave | :09:40. | :09:47. | |
government departments to scale back new year festivities this year. | :09:47. | :09:51. |