:00:03. > :00:13.Those are the latest headlines from BBC World News.
:00:13. > :00:18.
:00:18. > :00:26.Now for the latest financial news Investors dump Turkish shares on
:00:26. > :00:32.fears the economy could be threatened by the unrest.
:00:32. > :00:36.Jobs are slashed at US games maker Zynga. We'll explain why it's gone
:00:36. > :00:45.from a hot stock to crisis mode in just 1.5 years.
:00:45. > :00:49.Welcome to World Business Report. I'm Sally Bundock. Also in the
:00:49. > :00:52.programme: The second part in our Getting Started series about
:00:52. > :00:54.entrepreneurs that focuses on getting finance.
:00:54. > :00:59.The protests in Istanbul have shaken investor confidence in
:00:59. > :01:02.Turkey. Yesterday, the main share index plunged more than 10%.
:01:02. > :01:06.Investors are worried about the impact on the economy if the unrest
:01:06. > :01:10.continues. Turkey's economy was struggling even before the trouble.
:01:10. > :01:15.Last year, it grew just 2.2% and economic data for this year has not
:01:15. > :01:19.been encouraging. That won't be helped if the important tourism
:01:19. > :01:27.industry is hit. Last year, the industry was worth $29 billion and
:01:27. > :01:37.June is the first month of the peak season. Some of the country's key
:01:37. > :01:38.
:01:38. > :01:45.unions are now staging strike This chart shows how Turkish shares
:01:45. > :01:50.have performed over the last fives years. If you invested at the start
:01:50. > :01:54.of 2009, you would be up around 300% now. It is a market known for
:01:54. > :01:59.its volatility. So perhaps it's not surprising there was a big reaction
:01:59. > :02:05.yesterday. Let's get some market perspective on all of this. Justin
:02:05. > :02:13.Urquhart Stewart is a director at Seven Investment Management.
:02:13. > :02:18.Welcome. Its economy has two and viewpoints. On the one hand, people
:02:19. > :02:25.are excited about the future for Turkey. On the other hand, people
:02:25. > :02:31.are frustrated by the promise of reforms that they have not seen.
:02:32. > :02:37.have to put this in perspective. Economy has grown significantly. It
:02:37. > :02:44.was not one of the groups include with India and China. It was one
:02:44. > :02:51.step down. But it has grown. Especially when compared to Brazil.
:02:51. > :02:59.With tourism, it is important. And the manufacturing sector is
:02:59. > :03:09.important. They need of reform. We have social and religious issues.
:03:09. > :03:12.
:03:12. > :03:19.There are political changes as well. The eastern areas of the country
:03:19. > :03:25.are sensitive as well. It is part of European history. It wants to be
:03:25. > :03:30.part of the European Union. It has gone for a long time. They have not
:03:30. > :03:36.move forward significantly for a long time. This situation is very
:03:36. > :03:44.volatile. It is not clear which direction they will go in. They
:03:44. > :03:51.have been pushed back by the EU on many occasions. Turkey is an
:03:51. > :04:01.excitingly developing nation. They have made significant changes. They
:04:01. > :04:03.
:04:03. > :04:11.have a big Agricole call sector. -- agricultural. Investors are pouring
:04:11. > :04:17.away because it has been a perfect position. However, money will flow
:04:17. > :04:21.back in again. Turkey will continue to develop but it needs stability.
:04:22. > :04:28.The level of social unrest can be the start of more difficulties.
:04:28. > :04:36.Watch out for more shots in the market. It is down 17% since May.
:04:36. > :04:44.Thank you. We would talk about Turkey later.
:04:44. > :04:47.It is all over the papers. In other news: Not so long ago, it
:04:47. > :04:51.was one of the hottest technology companies. But San Francisco-based
:04:51. > :04:54.Zynga is in trouble. Late on Monday, the computer games maker announced
:04:54. > :04:58.it's cutting 520 jobs. That's almost a fifth of its total
:04:58. > :05:01.workforce. Zynga also warned of deepening losses. It shot to fame
:05:01. > :05:05.with games like Farmville, which is played on Facebook. But it has not
:05:05. > :05:15.been able to replicate that success. Robert Scoble is a well known
:05:15. > :05:16.
:05:16. > :05:23.blogger on the technology industry. Games are very fetish activities.
:05:23. > :05:27.If they hit it, it is a home run. It is like the game, angry birds.
:05:27. > :05:33.It is a multi-million dollar home run. They are struggling to find
:05:33. > :05:38.that. If they find that, people will be happy. But it takes time.
:05:38. > :05:44.Adidas buys them enough time to find the next two or three
:05:44. > :05:47.interesting games. But they do need to get there.
:05:47. > :05:51.In other news: Shares in the Australian surf-wear maker,
:05:51. > :05:54.Billabong, halved in value in Sydney, hitting an all-time low.
:05:54. > :05:58.That's after it announced that takeover talks with two interested
:05:58. > :06:02.parties had ended. Billabong is looking for new investors after an
:06:02. > :06:11.expansion plan failed and left the company with large debts. The
:06:11. > :06:15.company says it is discussing alternative financing.
:06:15. > :06:20.Panasonic will raise a production in Japan if the currency weakens.
:06:20. > :06:30.At the moment, it produces one- third of its products to Japan but
:06:30. > :06:32.
:06:32. > :06:35.it will decrees that to one half if US prosecutors have accused Apple
:06:35. > :06:41.of conspiring with publishers to raise the price of electronic books
:06:41. > :06:45.in a civil lawsuit which started on Monday. A Justice Department lawyer
:06:45. > :06:48.said that Apple told publishers it could deliver higher prices. Apple
:06:48. > :06:57.lawyers described the case as bizarre and accused them of
:06:57. > :07:03.inventing a conspiracy. The trial is due to last three weeks.
:07:03. > :07:13.The EC will give to that via the go-ahead to become the 18th member
:07:13. > :07:15.
:07:15. > :07:25.Approval is needed from EU leaders and the European Parliament. That
:07:25. > :07:28.is expected later this year. Now for the second part of our
:07:28. > :07:31.Getting Started series about entrepreneurs. Today, we head to
:07:31. > :07:34.France where small businesses generate most new jobs. But, as in
:07:34. > :07:39.other countries, start-up firms are finding it difficult to get
:07:40. > :07:45.financing. Jeremy Howell has this report from Paris.
:07:45. > :07:50.It is proving a popular option. People in France do not want to
:07:50. > :07:56.spend their money going out. People learn to make a three-course meal
:07:56. > :08:00.and I take it home and eat it. This shop has many customers per year.
:08:01. > :08:04.None of this would not have been possible if not for the cash
:08:04. > :08:10.brought into the business by private investors. So-called
:08:10. > :08:17.business angels. I raised 2 million euros with business interest. The
:08:17. > :08:21.first step is the most difficult. When you managed to convince the
:08:21. > :08:31.first business angels to invest, it is easier to get more funding from
:08:31. > :08:33.
:08:33. > :08:38.them. You have a good track record. There are four. Five million small
:08:38. > :08:44.firms in France, creating many new jobs. Most of the firms are tiny. 4
:08:44. > :08:50.million of them. Three staff or less. Entrepreneurs complain their
:08:50. > :08:54.businesses are held back by a lack of funding sources. The director of
:08:54. > :08:58.the Paris business-school and vice chairman of the French Institute of
:08:58. > :09:03.directors' has a special responsibility for small firms.
:09:03. > :09:12.Bankers are prudent in not lending money to start a business. If you
:09:12. > :09:22.are already in business, and have a huge net asset, they will not lend
:09:22. > :09:24.
:09:24. > :09:29.you money. It is a clear line. is a widespread call from small
:09:29. > :09:33.businesses. Banks could put up resistance. They have lost their
:09:33. > :09:38.taste for start-ups in the recent economic downturn. They need to see
:09:38. > :09:46.more success stories like this cooking business have to get their
:09:46. > :09:51.appetite back. Looking at him markets. There are
:09:51. > :09:57.some gains in Japan for the first time in four days. The markets have
:09:57. > :10:04.been hit quite hard by very is issues, not least how successful
:10:04. > :10:08.so-called ergonomics is going. It is the phrase coined by Shinzo Abe,
:10:08. > :10:12.the new prime minister, and his action to boost the Japanese
:10:12. > :10:17.economy. One of the reasons for the gains in the market is because in