:00:00. > :00:25.Those are the latest headlines from US stocks surged on hope of a deal
:00:25. > :00:31.to break the budget deadlock, but is itself? My Mac plus, why change
:00:31. > :00:41.could be on the cards for the way millions of refugees were to ——
:00:41. > :00:45.A very warm welcome to you. This is World Business Report. In just a
:00:45. > :00:53.minute we will get the view from the IMF about the US budget crisis that
:00:53. > :00:57.meeting in Washington. But first, as you have been hearing, talks have
:00:57. > :01:03.been continuing into the night in Administration and Republicans try
:01:03. > :01:05.to break the budget deadlock. The fear that the US will be left unable
:01:05. > :01:10.to pay its bills next week have fear that the US will be left unable
:01:10. > :01:17.battling global markets. News that offering a debris deal to raise
:01:17. > :01:23.battling global markets. News that ceiling said US stocks surging.
:01:23. > :01:35.battling global markets. News that US into a —— industrial average
:01:35. > :01:37.The financial markets are said to be driven only by greed, but then on
:01:37. > :01:41.Thursday some of the fear went driven only by greed, but then on
:01:41. > :01:42.Thursday some of the fear went away. We have seen a really friendly
:01:42. > :01:46.on the stock market this Thursday away. We have seen a really friendly
:01:46. > :01:46.on the stock market this Thursday after the Republicans offered a
:01:46. > :02:02.impact on the market not just here after the Republicans offered a
:02:02. > :02:06.impact on the market not just here in the US but also around the world.
:02:06. > :02:07.extension will push it out to the end of November which is six weeks
:02:07. > :02:22.accept the Republicans' offer. Talks end of November which is six weeks
:02:23. > :02:23.accept the Republicans' offer. Talks will continue. America's future
:02:23. > :02:28.ability to pay its bills are —— will continue. America's future
:02:28. > :02:35.far from certain. What is certain is much of the Federal government
:02:35. > :02:38.hundreds of thousands of workers. The shutdown enters its 11th day and
:02:38. > :02:51.the economic impact is getting bigger. For now, America continues
:02:51. > :02:57.to inch towards a possible default. That optimism for now at least
:02:57. > :03:06.carried through into Asian markets. How are the mark is doing? As we
:03:06. > :03:09.speak Asian stocks are at multi— week highs. Even though questions
:03:09. > :03:18.remain whether or not the deal could be struck, traders are saying Asian
:03:18. > :03:23.investors are taking chances. They think the agreement could be just
:03:23. > :03:29.around the corner. A key catalyst as which posted their biggest rally in
:03:29. > :03:48.The Australian shares are having their biggest gain in three months.
:03:48. > :03:54.Analysts leave that while no deal emerged from this meeting in the
:03:54. > :04:01.White House, the two sides will continue to talk. There were some
:04:01. > :04:06.unsettling moments. President Barack Obama had rejected the plan, but
:04:06. > :04:20.have not made a decision. They say Now, the US budget battle also comes
:04:20. > :04:35.Bank. Our reporter is there. He Now, the US budget battle also comes
:04:35. > :04:42.Bank. Our reporter is there. He director and started by asking him
:04:42. > :04:49.Is important for the US to resolve this in Paris and move on to the
:04:49. > :04:52.hard work of dealing with its budget problems and strengthening growth in
:04:52. > :04:58.the US. I think they will hear that from all of our visitors. We have,
:04:58. > :05:03.as you mentioned, ministers and central bank governors from 188
:05:03. > :05:06.member countries. All told, we have 13,000 visitors here, including
:05:06. > :05:12.people from the private sector. 13,000 visitors here, including
:05:12. > :05:16.think everyone will be asking this question. What will come through is
:05:16. > :05:21.this message that what the US does is consequential for the US economy
:05:21. > :05:26.and because of that is consequential the entire global economy. You say
:05:26. > :05:32.that these visiting bankers and American delegation about the budget
:05:32. > :05:38.crisis. Surely they will be begging them to get it sorted out? I suspect
:05:38. > :05:44.they will say that. I don't know what their conversations will entail
:05:44. > :05:49.but I suspect they will ask what is going to happen and ex— Lehman ——
:05:49. > :06:05.order to tell themselves how to and they really need to know in
:06:05. > :06:05.situation where the big recent global economic uncertainties have
:06:05. > :06:10.come from the US we have the crisis global economic uncertainties have
:06:10. > :06:11.come from the US we have the crisis about the budget right now, but
:06:11. > :06:11.come from the US we have the crisis last few months it has also been
:06:11. > :06:15.coming from the US is concerned last few months it has also been
:06:15. > :06:18.coming from the US is concerned about when the Federal reserve is go
:06:18. > :06:26.true, but let's keep perspective to start withdrawing its stimulus
:06:26. > :06:28.true, but let's keep perspective that the Fed's potential exit from
:06:28. > :06:33.unconventional monetary policy is recovering. Our assessment is that
:06:33. > :06:40.signs of strengthening and it is the recovering. Our assessment is that
:06:40. > :06:47.signs of strengthening and it is the US government deficit reduction
:06:47. > :06:49.signs of strengthening and it is the Apart from all of what is going
:06:49. > :06:58.around this budget short—term issue is that the administration's budget
:06:58. > :07:04.plans are for somewhat less with —— withdrawal of stimulus. All things
:07:04. > :07:08.equal, the US economy would be strengthening. That is why the Fed
:07:08. > :07:16.has been talking about being able to monetary policy. It is interesting
:07:16. > :07:25.for America and good news for most Moving on there are 45 million
:07:25. > :07:31.people around the world displaced from their homes by conflict. 2
:07:31. > :07:36.million from Syria alone. Many end up in refugee camp run by the UN and
:07:36. > :07:40.other such bodies. The cost and complexity of feeding so many can be
:07:40. > :07:44.huge. On Friday the world food programme will hand out thousands of
:07:44. > :07:47.electronic cards which can be used to pay for food bought from local
:07:47. > :07:56.stores, reducing the need to airlift Feeding the rising tide of flinging
:07:57. > :08:06.relative safety of neighbouring Syrians is a superhuman task. The
:08:06. > :08:12.relative safety of neighbouring Lebanon. UN food aid used to be
:08:12. > :08:23.transport and the handouts for refugees little dignity or choice.
:08:23. > :08:26.refugees will be issued electric carts. They will be able to use
:08:26. > :08:35.refugees will be issued electric to choose food to the value of
:08:36. > :08:36.refugees will be issued electric Fresh, frozen and ferry products are
:08:36. > :08:49.the power into the hands of the Fresh, frozen and ferry products are
:08:49. > :08:53.the power into the hands of the hungry people to decide what they
:08:53. > :08:57.want to eat. To spend money at local shops, injecting money into the
:08:57. > :09:06.economy. And for them to get a Refrigerated items like milk orgies,
:09:06. > :09:11.fresh vegetables, that we cannot deliver at that kind of scale. ——
:09:11. > :09:16.milk orgies. The cards are welcomed by local merchants and give a big
:09:16. > :09:18.boost to their businesses. Earlier pilot schemes demonstrated the
:09:18. > :09:24.benefits of the plastic cards, which proved their worth over previous
:09:24. > :09:28.vouchers. The list of available goods May be limited, but refugee
:09:28. > :09:32.families already using the cards like the idea of being able to vary
:09:32. > :09:36.their shopping according to their needs and tastes. The hope is that
:09:36. > :09:43.the specially designed payment system will help combat fraud. They
:09:43. > :09:47.are trying to battle the increasing number of Syrians flinging their
:09:47. > :09:58.country in search of century. —— Just time for one other bit of
:09:58. > :10:04.Alitalia will meet to discuss a Italian government. Under the plan,
:10:04. > :10:20.Italy's state—owned Post Office providing it makes radical changes
:10:20. > :10:26.in existing shareholders, including bankruptcy. From me and the business