:00:03. > :00:13.hundreds of homes. Those are the headlines. Now it is
:00:13. > :00:28.
:00:28. > :00:35.Defending their culture from Hollywood: The French say they will
:00:35. > :00:40.boycott the trade talks with the US unless their film industry is
:00:40. > :00:49.defended. And and how to stop the rising tide
:00:49. > :00:53.of youth unemployment in Europe. Welcome to the programme. An
:00:53. > :00:58.exciting snapshot of all the latest in the world in business and money
:00:58. > :01:06.coming up. We will talk about Asian markets bouncing back after the big
:01:06. > :01:13.sell-off yesterday. There is a lot more to come. We start with the
:01:13. > :01:18.European Union and the US, already part of the largest trade agreement
:01:18. > :01:22.in the world, well they want to make their trade ties even stronger.
:01:23. > :01:28.They will remove all remaining barriers to transatlantic business
:01:28. > :01:33.and give a massive boost to both economies. The European Union
:01:33. > :01:43.calculates a deal would be worth nearly 120 billion euros a year or
:01:43. > :01:48.
:01:49. > :01:53.two of its economy. That is an average off -- 120 billion is a
:01:53. > :01:58.year to its economy. That is an average of 545 euros per household.
:01:58. > :02:02.France is worried that their movie business which gets a lot of state
:02:02. > :02:08.support would be swamped by Hollywood and French culture would
:02:08. > :02:16.suffer. Negotiations between France and the other 26 EU members begins
:02:16. > :02:22.and a few hours' time. The Culture Minister was in a fighting mood.
:02:22. > :02:26.TRANSLATION: France defence this to the end. It is a red line for the
:02:26. > :02:34.President and the whole government. Is France right to be worried?
:02:34. > :02:40.Let's find out. Great you have you with those on the programme. Let's
:02:40. > :02:47.start with that. Does France have a reason to worry? Would a free-trade
:02:47. > :02:52.agreement mean Hollywood would swamp French cinema?
:02:52. > :02:57.The sun is shining in Brussels so that is hopefully a good omen. The
:02:57. > :03:07.French industry should not worry. It is important to underline what
:03:07. > :03:07.
:03:07. > :03:14.you said. This agreement is good for the economies on both sides. It
:03:14. > :03:18.will be good for people who depend on the jobs it would be created. In
:03:18. > :03:24.terms of the issues that are of concern to the French, and it is
:03:24. > :03:29.not just the French, we understand the sensitivities of culture and
:03:29. > :03:39.cultural diversity. Europe has a series of measures in place which
:03:39. > :03:43.are designed to protect and promote local production with subsidies. We
:03:43. > :03:47.have a responsible position in the run-up to the negotiations. We have
:03:47. > :03:54.said that we understand the sensitivities and you will not
:03:54. > :04:01.challenge the existing measures. -- we will. It is important. The
:04:01. > :04:06.European market is good. It was interesting, looking at the notes,
:04:06. > :04:11.correct me if I am wrong, France is the third biggest film market in
:04:11. > :04:17.the world in terms of admission and revenue. Hollywood would surely
:04:17. > :04:26.like a bigger slice of that. American film industry has a big
:04:26. > :04:32.slice of that market already. would they not like a bigger slice?
:04:32. > :04:38.We have a good slice of the market. In terms of the cinema market
:04:38. > :04:48.itself, the measures that exist there are support measures. Moody's
:04:48. > :04:52.
:04:52. > :04:57.from Hollywood easily get 50-55 %. That you for your time. I hope the
:04:57. > :05:07.sun keeps shining. Let's stay with the theme of films
:05:07. > :05:13.
:05:13. > :05:21.but talk about Asian markets. Les crossover to Rico Hizon. -- let's.
:05:21. > :05:26.How do the markets look? They are up and down like a yo-yo. They are
:05:27. > :05:36.up and down like crazy. It has been crazy. A very crazy
:05:37. > :05:37.
:05:37. > :05:42.week. Difficult for traders, analysts and investors. Everyone
:05:42. > :05:52.needed a boost this Friday. In Japan, markets fell by more than 6%
:05:52. > :05:58.on Thursday. Up by 3% today. There was a relief rally in electronic
:05:58. > :06:05.exporters. As for chorion shares, they are on the mend and in
:06:05. > :06:11.positive territory. -- Chorion. Samsung Electronics, the backbone
:06:11. > :06:21.of the market, it is rising today. It had been on a losing streak for
:06:21. > :06:27.six sessions Australian shares -- sessions. Australian shares have
:06:27. > :06:37.risen. Other financial stocks are doing well.
:06:37. > :06:45.Thank you. What can you could do that is not
:06:46. > :06:55.already being done to get millions of jobless young people into work?
:06:56. > :06:57.
:06:57. > :07:06.There is a meeting in Rome to look at measures to tackle youth
:07:06. > :07:13.unemployment. Almost 25 % of under 25s are out of work in Europe on
:07:13. > :07:23.the whole. In the south, it is far worse. 40 % in Italy. More than 56
:07:23. > :07:28.
:07:28. > :07:33.% in Spain. Worst of all, Greece, youth unemployment at 62.5 %. Aged
:07:33. > :07:38.25 but with no decent job experience, Paul is typical of the
:07:38. > :07:44.lost generation. He is struggling for a foothold in a stack and job
:07:44. > :07:52.market. He has discovered a talent for advertising and copy writing.
:07:52. > :07:57.He is looking for a freelance jobs. People do not want to hire someone
:07:57. > :08:02.without experience and spent money on training them. It is cheaper and
:08:02. > :08:08.easier to hire someone with proven experience. Someone with the
:08:08. > :08:13.qualifications. One thing of the need to look at, it is very
:08:13. > :08:22.important... This man needs a break. They are pitching for a small
:08:22. > :08:28.copywriting job online. The Internet can bridge the gap between
:08:28. > :08:33.education and the workplace. There needs to be an incentive for us to
:08:33. > :08:39.take on the youth of today. There are other areas like research and
:08:39. > :08:44.developing. These area its other important. -- development. These
:08:44. > :08:52.areas are important. It would be a real barrier for small businesses
:08:52. > :08:56.like yourself to take on new members of staff. This online
:08:56. > :09:00.agency said it is all about becoming ready for work. All of
:09:00. > :09:04.these young people are going through the education system and
:09:04. > :09:08.coming out with qualifications but not relevant skills needed for the
:09:08. > :09:13.jobs that are out there. A lot of people are not sure where they
:09:13. > :09:17.should become what they should do and what they are good at. They can
:09:17. > :09:23.start to build up a portfolio of work in this way. They can build up
:09:23. > :09:29.a portfolio. Leaders in Europe have set aside 6 billion euros to try to
:09:29. > :09:33.ensure that every young person has access to an internship on trading.
:09:33. > :09:38.Countries are generating far too few work schemes to get the funding.
:09:39. > :09:43.Anything which counts students is welcome. Students have never been
:09:43. > :09:49.more qualifiers. It seems government cannot persuade