20/05/2013 World Business Report

in a suburb of the capital Tunis. Days at the latest headlines. Now

for the latest financial news in Yahoo is on the brink of a big deal.

Reports say it's poised to buy blogging site Tumblr. We'll explain

who they are, and why Yahoo wants them so badly.

The stock markets are booming and the day traders are back. We'll

hear from one trainee London taxi driver who is trying to beat the

market. Welcome to World Business Report.

Also in the programme: Sanyo may cease to exist due to restructuring

plans at Panasonic. We'll have the details.

Yahoo has invited the world's media to an event in Manhattan later

today promising a major announcement. We have a pretty good

idea what that will be. Reports say the internet firm is buying a web

business called Tumblr for $1.1 billion dollars. With more than 100

million blogs, Tumblr is very popular, but has yet to make much

money. So why is Yahoo keen to buy? Our New York business reporter

explains. Yahoo was once a name synonymous

with the internet. But its lead has been eclipsed by Google. It does

not generate the bars that Twitter and Facebook does. The company's

chief executive joined Yahoo just over one year ago. She is the third

chief executive to join the company in a period of 12 months. Since she

took over, there has been some controversy, especially when she

decided set and a policy that allows staff to work from home.

There are reports that Yahoo is going to acquire at tumbler. --

Tumblr. We are expected details of this will -- to be confirmed on

Monday in New York. One reason that Yahoo is trying to do this is to

try and get some cool back. Tumblr has more than 100 million blobs. It

also has a social media component as well as a mobile phone shattered

it. This is important as more and more of us do computing on the ego,

whether it is true smartphones or tablets. The benefits for Tumblr

are also clear. Even though it is very popular, particularly with a

younger age group, it is not very good at making money. The series,

by tying up with Yahoo, it may help Of course, ?I ? Of course, ade

other efforts in the past to try and drive more traffic to Yahoo's

website. She recently redesigned Yahoo male and upgraded the

company's fritter sharing website. company's fritter sharing website.

expected for that website later. But all of these efforts have not

done much to boost its profits. His first quarter earnings were

disappointing. It outlook for the rest of the year did the impress

those who follow Yahoo's finances. The million-dollar question now -

although Tumblr does bring some hipness to Yahoo, with a fade it

hipness to Yahoo, with a fade it once it is owned by a bigger

company, even if it is one in Silicon Valley? And what Yahoo be

able to boost its bottom line? Let's move on. It has been a strong

start to the week for the world's stock markets with shares climbing

in Asia. This follows another record breaking week, last week

when shares in New York hit an all the FTSE-10?I ? the FTSE-10hest

level in more than 5.5 years and the boom has lured back day traders.

Those bold individuals who think they can beat the market.

There is an air of excitement in the world's financial markets after

years of economic pain, crisis in the eurozone, stock markets are

Stock market rallies come and go, but by definition, when things

again it means more money is entering them. Now it is the return

for the day trader. This man is training to be a cab driver in

London. He is day trading to make ends meet. I have always been

interested in the stock market. I took the skills I have learned its

and had been day trading ever since. There are quite a few more people a

day trading, obviously the market are doing well. I speak to a lot of

traders on the internet. There does seem to be a lot more day traders

are round. We'll see how long it will last. I try to take the motion

out of it. I have learned to be more like a robot. It does not

always work. Make the money, get out. Have a target, stay with it.

This company says in the last six months, it has gone up by 46%. Are

these day traders the same one from the last boom or did they get wiped

out? I say it is 50-50. Day traders live and die by their accounts.

would seem, as long as the world's financial systems provide potential

gains, day traders are back in fashion.

Sanyo is a pretty well known name in the electronics industry. But

according to a report in a Tokyo paper, it could be about disappear.

Rico Hizon is at our business hub in Singapore.

Tel us more. What a Panasonic's plans for Sanyo? It is part of

Panasonic's reorganisation plan. The Japanese media is reporting

that Sanyo may no longer resist after -- and did this restructuring

initiative. The move includes global job cuts. It will cut 90% of

Sanyo's work force. This acquisition are felt to bring in

the growth they expected. The battery business was impacted by

competition and a strong local currency. This is followed by the

slump of digital appliances. This will be a sad end to Sanyo, which

was one eighth -- which was once a force in the business. We will keep

an eye on that. South Africa's National Union of Mineworkers is

asking for a pay rise of up to 60% for its members. It would mean

entry level, underground jobs would pay around $900 US dollars a month.

Last year, South Africa's platinum mines were hit be wildcat strikes,

and a confrontation near the Marikana mine saw more than 50

people killed. Google boss Eric Schmidt will meet

British Prime Minister, David Cameron at Downing Street later.

The Prime Minister is expected to raise the issue of corporate tax at

the meeting which is a regular get together of Mister Cameron's

Business Advisory Group. Google received stinging criticism by a

committee of British politicians last week over its tax policy.

Star Trek Into Darkness topped the North American box office over the

weekend. It took more than $70 million, which beat Ironman 3. But

that total did not be did the opening weekend of the previous

Star Trek movie. But the studio behind it says it is happy with the

performance. The markets have started on a very

high note. Gains are right across the board. Stronger-than-expected