:00:05. > :00:15.Prost digit. -- prostitutes. Now it is time for our World Business
:00:15. > :00:23.
:00:23. > :00:30.Report. Banking secrecy in Switzerland is
:00:30. > :00:40.in the spotlight again. Politicians vote on whether to pass on client
:00:40. > :00:42.
:00:42. > :00:46.details. And China launches its first carbon trading scheme.
:00:46. > :00:52.Welcome to World Business Report. Also when the programme, the latest
:00:52. > :00:57.on the Paris Air Show. First, as world leaders grapple at the G8
:00:57. > :01:02.with the thorny issue of tax evasion, Switzerland's parliament
:01:02. > :01:07.is set to vote back on a controversial bill that could allow
:01:07. > :01:13.information to be passed to authorities. The deal is the result
:01:14. > :01:20.of huge pressure from Washington after revelations that American
:01:20. > :01:27.Account holders were helped to avoid tax. The bill would put an
:01:28. > :01:33.end to Swiss banking secrecy. Nobody likes being told what to do.
:01:33. > :01:38.Swiss members of parliament are no exception. The deal before them is
:01:38. > :01:42.being insisted on, not by their own electorate but the United States.
:01:42. > :01:47.They are furious that billions of dollars of tax revenue could have
:01:47. > :01:54.been stored in Swiss banks. They're demanding details of American
:01:54. > :02:00.Account holders and the Swiss bankers who may have advised them.
:02:00. > :02:06.Other details of the deal are not being revealed to Parliament at the
:02:06. > :02:11.request of Washington. After hours of debate, last week the Senate
:02:11. > :02:17.said yesterday deal, reluctantly. They are afraid of the consequences
:02:17. > :02:22.of seeing all. Try and the ASEAN we have the choice of a controlled
:02:23. > :02:29.emergency landing or a crash. It is clear what we have to do. --
:02:29. > :02:35.TRANSLATION: We have the choice. The way are warning those who think
:02:35. > :02:40.they are not affected. This nightmare could come to you, too.
:02:40. > :02:45.The banks themselves are very nervous. Indictments from the US
:02:45. > :02:50.are a certainty if the bill does not pass. Every Swiss banker knows
:02:50. > :02:57.what happened to the oldest private bank when it was indicted. It
:02:58. > :03:02.closed its doors for good. To come into Loch, the bill must get
:03:02. > :03:10.approval in Parliament. It will be a close-run thing. Many politicians
:03:10. > :03:15.do not see why they should be the once to kill off banking Secretary.
:03:15. > :03:21.-- secrecy. The first pilot carbon trading
:03:21. > :03:25.scheme in China comes into operation today. The China's
:03:25. > :03:31.planning to experiment with the scheme over the next three years.
:03:32. > :03:36.It will encourage businesses to cut pollution. It has been so bad
:03:36. > :03:45.recently that normal activity has ground to a halt. The latest
:03:45. > :03:53.figures from the UN sure that, as of 2008, China accounted for more
:03:53. > :03:58.than 25 % of emissions in the world. The bows last year. China has
:03:58. > :04:02.promised to reduce emissions relative to economic output by 2020.
:04:02. > :04:09.First, they will need to come up with the working scheme. Attempts
:04:09. > :04:19.to set up a carbon trading scheme in Europe are currently floundering.
:04:19. > :04:20.
:04:20. > :04:28.Let's get more. Thank you for being on the programme. How will this
:04:28. > :04:33.teamwork? They Chinese scheme will be
:04:33. > :04:37.operating with a cap. Companies will be given a locations. They
:04:37. > :04:44.will be allowed to trade their permits. Companies that produce
:04:44. > :04:50.more emissions will be able to sell off their permits. The market will
:04:50. > :04:57.achieve the most effective and efficient way. The scheme is not
:04:57. > :05:01.working very well at the moment in Europe. It is not effective to
:05:01. > :05:10.trade the emissions. Do you think you will have the same problem in
:05:10. > :05:20.China? It is hard to say at the moment. A couple of years ago, I
:05:20. > :05:22.
:05:22. > :05:29.was part of a discussion where people were invited to share
:05:29. > :05:35.experiences with carbon schemes. We shared some of our experiences.
:05:35. > :05:42.China has been doing their research. It seems like they are well
:05:42. > :05:51.prepared to launch their national scheme. With any investor, price
:05:51. > :05:59.transparency is important. We will have to see what happens. It is
:05:59. > :06:09.very important, isn't it, that's something works? Pollution levels
:06:09. > :06:12.
:06:12. > :06:20.have been debilitating. It has been very bad. The launch of the scheme
:06:20. > :06:30.shows strong political will from China's perspective. It is
:06:30. > :06:39.
:06:39. > :06:45.important that we see transparency, longevity and confidence. The
:06:45. > :06:55.economy is looking towards transparency. They want to see if
:06:55. > :06:59.
:06:59. > :07:09.the pilot schemes become national. We will bring you the latest from
:07:09. > :07:14.the Paris Air Show. We have been talking to a representative from
:07:14. > :07:17.the parent company of Airbus. We are talking to the crowds. They
:07:17. > :07:26.are enjoying manoeuvres from the largest passenger plane in the
:07:26. > :07:33.world. It is the Airbus A350. A lot of delays with that plane. There
:07:34. > :07:38.are developing low fuel burning techniques. -- they are. The plane
:07:38. > :07:43.has pre-sold around 600. The hope is that it will make another
:07:43. > :07:50.appearance before the end of the week. When we launched the
:07:50. > :07:59.programme, we still had subsidiary companies operating nationally. We
:07:59. > :08:09.have had problems. There are many things I could tell you that are
:08:09. > :08:11.
:08:11. > :08:21.positive. Over 600 orders. Customers want these fuel-saving so
:08:21. > :08:29.now. What can we say about this? The 330s are still selling well. We
:08:29. > :08:39.sold more after the launch of the 787. We're planning to deliver the
:08:39. > :08:39.
:08:39. > :08:46.first aircraft by the end of next year. That is a helluva schedule. A
:08:46. > :08:52.lot of focus. We are looking for something like 10 aircraft a month
:08:53. > :08:59.eventually. Not long ago, you were pursuing a merger with British
:08:59. > :09:06.Aerospace. A lot of people think this is unfinished business and you
:09:07. > :09:16.will have to make some changes. am thing I can tell you is that we
:09:17. > :09:19.
:09:19. > :09:27.will not give up. We are very well positioned. We have at a very good
:09:27. > :09:31.revenue. Very strong and able not six. That will remain the main
:09:31. > :09:38.strength of the company going forward.
:09:38. > :09:48.Let's move on to bring you Other Business News. The New York-based
:09:48. > :09:50.
:09:50. > :10:00.hedge fund company Third. Has raised its stake in Soni. They want
:10:00. > :10:03.
:10:03. > :10:12.to have more of a say on the board. Third Point. Giggle has delayed a
:10:12. > :10:17.stock split. It was a class action brought in Massachusetts. It was
:10:17. > :10:21.alleged that the co-founders engineer at the stock in a way that
:10:21. > :10:26.unfairly benefited them while short changing the rest of the
:10:26. > :10:33.shareholders at the company. This clears the way for them to issue