:00:00. > :00:03.the sale before Saturday's auction. the sale before Saturday's auction.
:00:03. > :00:03.Those are the latest headlines. It Those are the latest headlines. It
:00:03. > :00:13.Those are the latest headlines. It is now time for the latest
:00:13. > :00:23.
:00:23. > :00:24.Boeing engineers will meet with Boeing engineers will meet with
:00:24. > :00:25.Boeing engineers will meet with safety regulators later to try and
:00:25. > :00:27.safety regulators later to try and safety regulators later to try and
:00:27. > :00:28.get the Dreamliner flying again. get the Dreamliner flying again.
:00:28. > :00:30.get the Dreamliner flying again. get the Dreamliner flying again.
:00:30. > :00:31.I as the cost of the flight ban I as the cost of the flight ban
:00:32. > :00:34.I as the cost of the flight ban spiral, one estimates as the bill
:00:34. > :00:37.spiral, one estimates as the bill could top $1 billion.
:00:37. > :00:38.could top $1 billion. could top $1 billion.
:00:38. > :00:39.No real recovery until 2016, No real recovery until 2016,
:00:39. > :00:40.No real recovery until 2016, official forecasts out today will
:00:40. > :00:48.official forecasts out today will official forecasts out today will
:00:48. > :00:49.paint a bleak picture for Europe's economy.
:00:49. > :00:52.economy. economy.
:00:52. > :00:54.This is World Business Report. In This is World Business Report. In
:00:54. > :00:56.This is World Business Report. In This is World Business Report. In
:00:56. > :00:57.just a minute, a bit more on those just a minute, a bit more on those
:00:57. > :00:59.eurozone forecasts. Bowling will eurozone forecasts. Bowling will
:00:59. > :01:00.eurozone forecasts. Bowling will try and get its troubled Dreamliner
:01:00. > :01:02.try and get its troubled Dreamliner try and get its troubled Dreamliner
:01:02. > :01:04.back in the era today. Senior back in the era today. Senior
:01:04. > :01:05.back in the era today. Senior officials at Boeing will meet with
:01:05. > :01:07.officials at Boeing will meet with the US Federal Aviation
:01:07. > :01:08.the US Federal Aviation the US Federal Aviation
:01:08. > :01:10.Administration to present a ten- Administration to present a ten-
:01:10. > :01:11.Administration to present a ten- point plan that they hope will
:01:11. > :01:13.point plan that they hope will point plan that they hope will
:01:13. > :01:15.allow the 50 grounded Dreamliner allow the 50 grounded Dreamliner
:01:15. > :01:16.aircraft to restart operation. aircraft to restart operation.
:01:16. > :01:17.aircraft to restart operation. These include short-term plans like
:01:17. > :01:19.These include short-term plans like These include short-term plans like
:01:19. > :01:20.protection around the batteries to protection around the batteries to
:01:20. > :01:25.protection around the batteries to contain any fire, and proposals for
:01:25. > :01:26.contain any fire, and proposals for a longer term design.
:01:26. > :01:27.a longer term design. a longer term design.
:01:27. > :01:29.a longer term design. A fire in these batteries led to
:01:29. > :01:30.A fire in these batteries led to A fire in these batteries led to
:01:30. > :01:34.A fire in these batteries led to the grounding of all 50 aircraft in
:01:34. > :01:35.the grounding of all 50 aircraft in operation in January. Passengers
:01:35. > :01:36.operation in January. Passengers operation in January. Passengers
:01:36. > :01:38.had to be evacuated from a had to be evacuated from a
:01:38. > :01:39.had to be evacuated from a Dreamliner in Japan. Since then,
:01:39. > :01:40.Dreamliner in Japan. Since then, Dreamliner in Japan. Since then,
:01:40. > :01:42.investigators have been trying to investigators have been trying to
:01:42. > :01:43.investigators have been trying to investigators have been trying to
:01:43. > :01:45.find the cause of the fires. So far, find the cause of the fires. So far,
:01:45. > :01:46.find the cause of the fires. So far, no airline has cancelled orders.
:01:46. > :01:47.no airline has cancelled orders. no airline has cancelled orders.
:01:47. > :01:50.no airline has cancelled orders. But it is estimated that bowling is
:01:50. > :01:51.But it is estimated that bowling is But it is estimated that bowling is
:01:51. > :01:53.missing out on $200 million in missing out on $200 million in
:01:53. > :01:55.missing out on $200 million in delivery payments every month that
:01:55. > :01:58.delivery payments every month that delivery payments every month that
:01:58. > :01:59.the 787 remains grounded. They are the 787 remains grounded. They are
:01:59. > :02:01.the 787 remains grounded. They are spending $1 million per month to
:02:01. > :02:02.spending $1 million per month to keep production running. The
:02:02. > :02:03.keep production running. The keep production running. The
:02:03. > :02:04.company is proposing safety fixes. company is proposing safety fixes.
:02:04. > :02:06.company is proposing safety fixes. They could include putting the
:02:07. > :02:07.They could include putting the They could include putting the
:02:07. > :02:08.batteries in fireproof metal cases batteries in fireproof metal cases
:02:08. > :02:10.batteries in fireproof metal cases and widening the gaps between
:02:10. > :02:12.and widening the gaps between and widening the gaps between
:02:12. > :02:15.battery cells to stop them battery cells to stop them
:02:15. > :02:16.overheating. The only Dreamliner aircraft flying at the moment are
:02:16. > :02:17.aircraft flying at the moment are aircraft flying at the moment are
:02:17. > :02:18.aircraft flying at the moment are those involved in tests to find the
:02:18. > :02:20.those involved in tests to find the those involved in tests to find the
:02:20. > :02:22.source of the problems. Boeing source of the problems. Boeing
:02:22. > :02:24.source of the problems. Boeing hopes today's meeting with US
:02:24. > :02:25.hopes today's meeting with US hopes today's meeting with US
:02:25. > :02:29.regulation aviator will lead to the regulation aviator will lead to the
:02:29. > :02:31.regulation aviator will lead to the resumption of services by April.
:02:31. > :02:32.resumption of services by April. resumption of services by April.
:02:32. > :02:37.With me is an aviation consultant. With me is an aviation consultant.
:02:37. > :02:38.With me is an aviation consultant. With me is an aviation consultant.
:02:38. > :02:42.Good to see you. What problems has Good to see you. What problems has
:02:42. > :02:43.Good to see you. What problems has the Dreamliner not suffered? This
:02:43. > :02:44.the Dreamliner not suffered? This the Dreamliner not suffered? This
:02:44. > :02:45.is a technology leading aircraft. is a technology leading aircraft.
:02:45. > :02:47.is a technology leading aircraft. is a technology leading aircraft.
:02:47. > :02:48.It has got so many new components. It has got so many new components.
:02:48. > :02:50.It has got so many new components. The major structure is carbon
:02:50. > :02:55.The major structure is carbon composite. Other systems provide
:02:55. > :02:57.composite. Other systems provide composite. Other systems provide
:02:57. > :02:58.power. New electrical systems, new power. New electrical systems, new
:02:58. > :03:01.power. New electrical systems, new engines. New assembly processes and
:03:01. > :03:03.engines. New assembly processes and engines. New assembly processes and
:03:03. > :03:04.a lot of outsourcing. With a lot of outsourcing. With
:03:04. > :03:05.a lot of outsourcing. With hindsight, blowing possibly bit off
:03:05. > :03:11.hindsight, blowing possibly bit off hindsight, blowing possibly bit off
:03:11. > :03:13.hindsight, blowing possibly bit off more than it could chew. -- bowling.
:03:13. > :03:14.more than it could chew. -- bowling. more than it could chew. -- bowling.
:03:14. > :03:16.more than it could chew. -- bowling. We now have this? About how long it
:03:16. > :03:22.We now have this? About how long it We now have this? About how long it
:03:22. > :03:23.will be around. What is the will be around. What is the
:03:23. > :03:24.will be around. What is the likelihood? What is the likelihood
:03:24. > :03:25.likelihood? What is the likelihood likelihood? What is the likelihood
:03:25. > :03:27.it might actually get the it might actually get the
:03:27. > :03:28.it might actually get the Dreamliner off the ground?
:03:28. > :03:29.Dreamliner off the ground? Dreamliner off the ground?
:03:29. > :03:32.background is the airline has background is the airline has
:03:32. > :03:33.background is the airline has already taken delivery. We have
:03:33. > :03:34.already taken delivery. We have already taken delivery. We have
:03:34. > :03:35.already taken delivery. We have heard from a lot of the Polish
:03:35. > :03:37.heard from a lot of the Polish heard from a lot of the Polish
:03:37. > :03:43.airliners. They have lost in a airliners. They have lost in a
:03:43. > :03:43.airliners. They have lost in a airliners. They have lost in a
:03:44. > :03:44.region of $2.5 million. It will go region of $2.5 million. It will go
:03:44. > :03:46.region of $2.5 million. It will go into the long-haul market for the
:03:46. > :03:47.into the long-haul market for the into the long-haul market for the
:03:47. > :03:50.first time. Without the aircraft, first time. Without the aircraft,
:03:50. > :03:52.first time. Without the aircraft, first time. Without the aircraft,
:03:52. > :03:53.it cannot do what. It will cost it it cannot do what. It will cost it
:03:53. > :03:55.it cannot do what. It will cost it money. That problem will compound
:03:55. > :03:56.money. That problem will compound money. That problem will compound
:03:56. > :03:57.over the summer months. War over the summer months. War
:03:57. > :03:59.over the summer months. War over the summer months. War
:03:59. > :04:00.aircraft are due to be delivered to aircraft are due to be delivered to
:04:00. > :04:01.aircraft are due to be delivered to other airlines. And there is that
:04:01. > :04:02.other airlines. And there is that other airlines. And there is that
:04:02. > :04:04.commercial pressure to give the commercial pressure to give the
:04:04. > :04:06.commercial pressure to give the aircraft back into service. Nothing
:04:06. > :04:06.aircraft back into service. Nothing aircraft back into service. Nothing
:04:06. > :04:08.comes before safety. Whatever it comes before safety. Whatever it
:04:08. > :04:09.comes before safety. Whatever it may be discussed in today's meeting,
:04:09. > :04:10.may be discussed in today's meeting, may be discussed in today's meeting,
:04:10. > :04:11.may be discussed in today's meeting, may be discussed in today's meeting,
:04:11. > :04:12.they have to find out if there is a they have to find out if there is a
:04:12. > :04:16.they have to find out if there is a rich cause and what measures could
:04:16. > :04:17.rich cause and what measures could rich cause and what measures could
:04:17. > :04:18.rich cause and what measures could be taken. Could it be a temporary
:04:18. > :04:22.be taken. Could it be a temporary be taken. Could it be a temporary
:04:23. > :04:23.situation where improvements can be situation where improvements can be
:04:23. > :04:26.situation where improvements can be made? A long-term service might be
:04:26. > :04:27.made? A long-term service might be made? A long-term service might be
:04:27. > :04:28.required. Let us talk about the required. Let us talk about the
:04:28. > :04:29.required. Let us talk about the required. Let us talk about the
:04:29. > :04:32.batteries. They seem to be the key batteries. They seem to be the key
:04:32. > :04:33.batteries. They seem to be the key batteries. They seem to be the key
:04:33. > :04:34.problem in all of this. There is problem in all of this. There is
:04:34. > :04:36.problem in all of this. There is this idea that they might be
:04:36. > :04:39.this idea that they might be this idea that they might be
:04:39. > :04:40.this idea that they might be encased in a sort of metal shield.
:04:40. > :04:41.encased in a sort of metal shield. encased in a sort of metal shield.
:04:41. > :04:43.encased in a sort of metal shield. A number of things are being looked
:04:43. > :04:46.A number of things are being looked A number of things are being looked
:04:46. > :04:46.at. The batteries already have some at. The batteries already have some
:04:46. > :04:49.protection. There are different protection. There are different
:04:49. > :04:52.protection. There are different types of battery available. The
:04:52. > :04:53.types of battery available. The types of battery available. The
:04:53. > :04:54.lithium batteries, but there are lithium batteries, but there are
:04:54. > :04:59.lithium batteries, but there are others like nickel. They are more
:04:59. > :05:00.others like nickel. They are more others like nickel. They are more
:05:00. > :05:00.heavy. This battery delivers a much heavy. This battery delivers a much
:05:00. > :05:01.heavy. This battery delivers a much more efficient generation of power
:05:01. > :05:04.more efficient generation of power more efficient generation of power
:05:04. > :05:06.were for much lighter weights. This were for much lighter weights. This
:05:06. > :05:07.were for much lighter weights. This aircraft has got something like
:05:07. > :05:09.aircraft has got something like aircraft has got something like
:05:09. > :05:11.four times as much generative four times as much generative
:05:11. > :05:12.four times as much generative capacity as any previous aircraft.
:05:12. > :05:14.capacity as any previous aircraft. capacity as any previous aircraft.
:05:14. > :05:16.It is a without fuel efficiency. It is a without fuel efficiency.
:05:16. > :05:19.It is a without fuel efficiency. It is a without fuel efficiency.
:05:19. > :05:20.That is why it was built. -- all That is why it was built. -- all
:05:20. > :05:21.That is why it was built. -- all about. It was called the most
:05:21. > :05:27.about. It was called the most environmentally friendly plane ever.
:05:27. > :05:28.Thank you. Thank you.
:05:29. > :05:30.Thank you. Staying with Europe, investors may
:05:30. > :05:31.Staying with Europe, investors may Staying with Europe, investors may
:05:31. > :05:32.be feeling more relaxed about the be feeling more relaxed about the
:05:32. > :05:33.be feeling more relaxed about the be feeling more relaxed about the
:05:33. > :05:35.debt crisis in the eurozone, but as debt crisis in the eurozone, but as
:05:36. > :05:37.debt crisis in the eurozone, but as far as the region's economic
:05:37. > :05:39.far as the region's economic far as the region's economic
:05:39. > :05:41.prospects go, there is little cause prospects go, there is little cause
:05:41. > :05:42.for optimism. Official forecasts for optimism. Official forecasts
:05:42. > :05:43.for optimism. Official forecasts from the European Commission are
:05:43. > :05:44.from the European Commission are from the European Commission are
:05:44. > :05:45.from the European Commission are out in just a few hours' time. They
:05:45. > :05:47.out in just a few hours' time. They out in just a few hours' time. They
:05:47. > :05:48.are expected to be more negative are expected to be more negative
:05:48. > :05:50.are expected to be more negative than a previous report in autumn.
:05:50. > :05:53.than a previous report in autumn. than a previous report in autumn.
:05:53. > :05:55.They predict 2013 will be another They predict 2013 will be another
:05:55. > :05:57.They predict 2013 will be another tough year. They are expected to
:05:57. > :05:59.tough year. They are expected to tough year. They are expected to
:05:59. > :06:00.forecast no growth at all across forecast no growth at all across
:06:00. > :06:03.forecast no growth at all across forecast no growth at all across
:06:03. > :06:04.the euro area in 2013. And just 1% the euro area in 2013. And just 1%
:06:04. > :06:06.the euro area in 2013. And just 1% the euro area in 2013. And just 1%
:06:06. > :06:08.in 2014. It will take at least in 2014. It will take at least
:06:09. > :06:10.in 2014. It will take at least until 2016 for the economy to
:06:10. > :06:11.until 2016 for the economy to until 2016 for the economy to
:06:11. > :06:12.recover to previous levels. Some recover to previous levels. Some
:06:12. > :06:15.recover to previous levels. Some countries are worse off than others.
:06:15. > :06:16.countries are worse off than others. countries are worse off than others.
:06:16. > :06:18.Spain, Italy and Portugal may be Spain, Italy and Portugal may be
:06:18. > :06:20.Spain, Italy and Portugal may be predicted to stay into recession
:06:20. > :06:24.predicted to stay into recession predicted to stay into recession
:06:24. > :06:25.until 2014. Greece for much longer. until 2014. Greece for much longer.
:06:25. > :06:28.until 2014. Greece for much longer. France could struggle to post any
:06:29. > :06:30.France could struggle to post any growth this year.
:06:30. > :06:31.growth this year. growth this year.
:06:31. > :06:32.Staying in the eurozone, Italians Staying in the eurozone, Italians
:06:32. > :06:33.Staying in the eurozone, Italians Staying in the eurozone, Italians
:06:33. > :06:34.are going to the polls this weekend are going to the polls this weekend
:06:34. > :06:35.are going to the polls this weekend are going to the polls this weekend
:06:35. > :06:41.in an election billed as a make-or- in an election billed as a make-or-
:06:41. > :06:43.in an election billed as a make-or- break one for the country. We have
:06:43. > :06:45.break one for the country. We have break one for the country. We have
:06:45. > :06:46.been speaking to one of Italy's been speaking to one of Italy's
:06:46. > :06:47.most successful businessman about most successful businessman about
:06:47. > :06:48.most successful businessman about most successful businessman about
:06:48. > :06:49.his concerns and found that he has his concerns and found that he has
:06:49. > :06:53.his concerns and found that he has little confidence in any of the
:06:53. > :06:56.candidates. candidates.
:06:56. > :06:58.candidates. This is the global fashion house
:06:58. > :07:02.This is the global fashion house This is the global fashion house
:07:02. > :07:05.that Renzo Rosso built. From the that Renzo Rosso built. From the
:07:06. > :07:07.that Renzo Rosso built. From the post -- first pair of bell-bottoms
:07:07. > :07:12.post -- first pair of bell-bottoms post -- first pair of bell-bottoms
:07:12. > :07:13.to a company employing 6,000 to a company employing 6,000
:07:13. > :07:15.to a company employing 6,000 worldwide. As fast as the local
:07:15. > :07:17.worldwide. As fast as the local worldwide. As fast as the local
:07:17. > :07:19.economy stagnated, this company has economy stagnated, this company has
:07:19. > :07:20.economy stagnated, this company has economy stagnated, this company has
:07:20. > :07:23.expanded. It is no wonder that he expanded. It is no wonder that he
:07:23. > :07:24.expanded. It is no wonder that he expanded. It is no wonder that he
:07:24. > :07:26.says he is unimpressed by the main says he is unimpressed by the main
:07:26. > :07:28.collection party candidates. They collection party candidates. They
:07:28. > :07:31.collection party candidates. They need to change a lot, especially
:07:31. > :07:32.need to change a lot, especially need to change a lot, especially
:07:32. > :07:33.the attitudes. Nobody is thinking the attitudes. Nobody is thinking
:07:33. > :07:35.the attitudes. Nobody is thinking the attitudes. Nobody is thinking
:07:35. > :07:41.how to do something for the future. how to do something for the future.
:07:41. > :07:42.how to do something for the future. how to do something for the future.
:07:42. > :07:45.They had just thinking of how to They had just thinking of how to
:07:45. > :07:46.They had just thinking of how to make some little adjustments. They
:07:46. > :07:48.make some little adjustments. They make some little adjustments. They
:07:48. > :07:52.make some little adjustments. They do not have the vision. If you
:07:52. > :07:53.do not have the vision. If you do not have the vision. If you
:07:53. > :07:56.do not have the vision. If you listen to them, it is not a problem
:07:56. > :08:03.listen to them, it is not a problem listen to them, it is not a problem
:08:03. > :08:04.listen to them, it is not a problem of power to do something. It is
:08:05. > :08:06.of power to do something. It is of power to do something. It is
:08:06. > :08:09.of power to do something. It is of power to do something. It is
:08:09. > :08:10.just a little idea. But it is not a just a little idea. But it is not a
:08:10. > :08:11.just a little idea. But it is not a real programme. We cannot think
:08:11. > :08:11.real programme. We cannot think real programme. We cannot think
:08:11. > :08:15.real programme. We cannot think real programme. We cannot think
:08:15. > :08:16.this man is a man who is going to this man is a man who is going to
:08:16. > :08:18.this man is a man who is going to change Italy. Young people are the
:08:18. > :08:18.change Italy. Young people are the change Italy. Young people are the
:08:18. > :08:20.change Italy. Young people are the DNA of this company. But the point
:08:20. > :08:20.DNA of this company. But the point DNA of this company. But the point
:08:20. > :08:23.DNA of this company. But the point made is that young people find it
:08:23. > :08:25.made is that young people find it made is that young people find it
:08:25. > :08:27.difficult to get jobs, because many difficult to get jobs, because many
:08:27. > :08:28.difficult to get jobs, because many difficult to get jobs, because many
:08:28. > :08:29.are a lost generation. It is nice are a lost generation. It is nice
:08:29. > :08:31.are a lost generation. It is nice are a lost generation. It is nice
:08:31. > :08:37.for me to work with young people. for me to work with young people.
:08:37. > :08:42.for me to work with young people. They are always magic. They have
:08:42. > :08:43.They are always magic. They have They are always magic. They have
:08:43. > :08:45.virgin blood. No contaminants. They virgin blood. No contaminants. They
:08:45. > :08:49.virgin blood. No contaminants. They virgin blood. No contaminants. They
:08:49. > :08:50.want to do something. That is where want to do something. That is where
:08:50. > :08:53.want to do something. That is where the mentality of the company is
:08:53. > :08:54.the mentality of the company is the mentality of the company is
:08:54. > :08:56.the mentality of the company is very modern. We I thinking of how
:08:56. > :08:59.very modern. We I thinking of how very modern. We I thinking of how
:08:59. > :09:00.to approach the market and build to approach the market and build
:09:00. > :09:05.communication. The way that communication. The way that
:09:05. > :09:05.communication. The way that everything works together. I use
:09:05. > :09:11.everything works together. I use everything works together. I use
:09:11. > :09:14.the young people in every position. the young people in every position.
:09:14. > :09:16.the young people in every position. This country is running from people
:09:16. > :09:17.This country is running from people This country is running from people
:09:17. > :09:17.This country is running from people who are part of the old generation.
:09:17. > :09:22.who are part of the old generation. who are part of the old generation.
:09:22. > :09:26.It needs to change a lot. It needs to change a lot.
:09:26. > :09:28.Some other news. Britain's Some other news. Britain's
:09:28. > :09:29.Some other news. Britain's competition watchdog may order a
:09:29. > :09:30.competition watchdog may order a competition watchdog may order a
:09:30. > :09:32.shake up of the Accounting Industry shake up of the Accounting Industry
:09:32. > :09:33.shake up of the Accounting Industry later today. There are concerns
:09:33. > :09:35.later today. There are concerns later today. There are concerns
:09:35. > :09:38.that the big for accounting firms that the big for accounting firms
:09:38. > :09:39.dominate the auditing business. dominate the auditing business.
:09:39. > :09:40.dominate the auditing business. There was widespread anger at
:09:40. > :09:42.There was widespread anger at There was widespread anger at
:09:42. > :09:43.accountants defence a clean bill of accountants defence a clean bill of
:09:43. > :09:47.accountants defence a clean bill of health just before the 2000 and
:09:47. > :09:49.health just before the 2000 and health just before the 2000 and
:09:49. > :09:50.Date crisis. -- 2008 crisis. They Date crisis. -- 2008 crisis. They
:09:50. > :09:51.Date crisis. -- 2008 crisis. They Date crisis. -- 2008 crisis. They
:09:51. > :09:52.may be required to have an audit may be required to have an audit
:09:52. > :09:53.may be required to have an audit every few years to stop them
:09:53. > :09:57.every few years to stop them every few years to stop them
:09:57. > :09:58.getting too close to their clients. getting too close to their clients.
:09:58. > :10:00.getting too close to their clients. A natural child has lost a
:10:00. > :10:01.A natural child has lost a shareholder vote. The Indonesian
:10:01. > :10:05.shareholder vote. The Indonesian shareholder vote. The Indonesian
:10:05. > :10:07.coal mining firm that he compounded coal mining firm that he compounded
:10:07. > :10:08.coal mining firm that he compounded in 2010. His Indonesian partners,
:10:08. > :10:10.in 2010. His Indonesian partners, in 2010. His Indonesian partners,
:10:10. > :10:12.the super wealthy family, have the super wealthy family, have
:10:12. > :10:14.the super wealthy family, have fallen out over allegations of
:10:14. > :10:18.fallen out over allegations of financial irregularities and phone
:10:18. > :10:19.financial irregularities and phone financial irregularities and phone
:10:19. > :10:24.financial irregularities and phone hacking. It has wiped two toads off
:10:24. > :10:24.hacking. It has wiped two toads off the value of shares.
:10:25. > :10:26.the value of shares. the value of shares.
:10:26. > :10:28.the value of shares. For a quick look at how markets are
:10:28. > :10:29.For a quick look at how markets are For a quick look at how markets are
:10:29. > :10:30.doing. Asian shares managed to get doing. Asian shares managed to get
:10:30. > :10:37.doing. Asian shares managed to get back some of the previous day's
:10:37. > :10:39.back some of the previous day's back some of the previous day's
:10:39. > :10:41.losses. Weak US and European data losses. Weak US and European data