14/06/2013 World Business Report

hundreds of homes. Those are the headlines. Now it is

Defending their culture from Hollywood: The French say they will

boycott the trade talks with the US unless their film industry is

defended. And and how to stop the rising tide

of youth unemployment in Europe. Welcome to the programme. An

exciting snapshot of all the latest in the world in business and money

coming up. We will talk about Asian markets bouncing back after the big

sell-off yesterday. There is a lot more to come. We start with the

European Union and the US, already part of the largest trade agreement

in the world, well they want to make their trade ties even stronger.

They will remove all remaining barriers to transatlantic business

and give a massive boost to both economies. The European Union

calculates a deal would be worth nearly 120 billion euros a year or

two of its economy. That is an average off -- 120 billion is a

year to its economy. That is an average of 545 euros per household.

France is worried that their movie business which gets a lot of state

support would be swamped by Hollywood and French culture would

suffer. Negotiations between France and the other 26 EU members begins

and a few hours' time. The Culture Minister was in a fighting mood.

TRANSLATION: France defence this to the end. It is a red line for the

President and the whole government. Is France right to be worried?

Let's find out. Great you have you with those on the programme. Let's

start with that. Does France have a reason to worry? Would a free-trade

agreement mean Hollywood would swamp French cinema?

The sun is shining in Brussels so that is hopefully a good omen. The

French industry should not worry. It is important to underline what

you said. This agreement is good for the economies on both sides. It

will be good for people who depend on the jobs it would be created. In

terms of the issues that are of concern to the French, and it is

not just the French, we understand the sensitivities of culture and

cultural diversity. Europe has a series of measures in place which

are designed to protect and promote local production with subsidies. We

have a responsible position in the run-up to the negotiations. We have

said that we understand the sensitivities and you will not

challenge the existing measures. -- we will. It is important. The

European market is good. It was interesting, looking at the notes,

correct me if I am wrong, France is the third biggest film market in

the world in terms of admission and revenue. Hollywood would surely

like a bigger slice of that. American film industry has a big

slice of that market already. would they not like a bigger slice?

We have a good slice of the market. In terms of the cinema market

itself, the measures that exist there are support measures. Moody's

from Hollywood easily get 50-55 %. That you for your time. I hope the

sun keeps shining. Let's stay with the theme of films

but talk about Asian markets. Les crossover to Rico Hizon. -- let's.

How do the markets look? They are up and down like a yo-yo. They are

up and down like crazy. It has been crazy. A very crazy

week. Difficult for traders, analysts and investors. Everyone

needed a boost this Friday. In Japan, markets fell by more than 6%

on Thursday. Up by 3% today. There was a relief rally in electronic

exporters. As for chorion shares, they are on the mend and in

positive territory. -- Chorion. Samsung Electronics, the backbone

of the market, it is rising today. It had been on a losing streak for

six sessions Australian shares -- sessions. Australian shares have

risen. Other financial stocks are doing well.

Thank you. What can you could do that is not

already being done to get millions of jobless young people into work?

There is a meeting in Rome to look at measures to tackle youth

unemployment. Almost 25 % of under 25s are out of work in Europe on

the whole. In the south, it is far worse. 40 % in Italy. More than 56

% in Spain. Worst of all, Greece, youth unemployment at 62.5 %. Aged

25 but with no decent job experience, Paul is typical of the

lost generation. He is struggling for a foothold in a stack and job

market. He has discovered a talent for advertising and copy writing.

He is looking for a freelance jobs. People do not want to hire someone

without experience and spent money on training them. It is cheaper and

easier to hire someone with proven experience. Someone with the

qualifications. One thing of the need to look at, it is very

important... This man needs a break. They are pitching for a small

copywriting job online. The Internet can bridge the gap between

education and the workplace. There needs to be an incentive for us to

take on the youth of today. There are other areas like research and

developing. These area its other important. -- development. These

areas are important. It would be a real barrier for small businesses

like yourself to take on new members of staff. This online

agency said it is all about becoming ready for work. All of

these young people are going through the education system and

coming out with qualifications but not relevant skills needed for the

jobs that are out there. A lot of people are not sure where they

should become what they should do and what they are good at. They can

start to build up a portfolio of work in this way. They can build up

a portfolio. Leaders in Europe have set aside 6 billion euros to try to

ensure that every young person has access to an internship on trading.

Countries are generating far too few work schemes to get the funding.

Anything which counts students is welcome. Students have never been

more qualifiers. It seems government cannot persuade