Browse content similar to 07/11/2013. Check below for episodes and series from the same categories and more!
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Hall, calling for the resignation of the Toronto mayor, Rob Ford. He says | :00:00. | :00:00. | |
he will not stand down, despite admitting to smoking crack cocaine. | :00:00. | :00:23. | |
The Twitter frenzy. Investors scramble for a piece of the social | :00:24. | :00:26. | |
network in the biggest internet flotation since Facebook. Pressure | :00:27. | :00:31. | |
mounts on the European Central Bank to cut the cost of borrowing, as the | :00:32. | :00:40. | |
eurozone economy struggles. Welcome to the programme. | :00:41. | :00:50. | |
Another workload close on Wall Street `` record close on Wall | :00:51. | :00:55. | |
Street. The biggest technology flotation since Facebook. Is it a | :00:56. | :00:59. | |
major investment opportunity or a bubble waiting to burst? Twitter | :01:00. | :01:06. | |
makes its stock market debut today. On Wednesday, Twitter confirmed it | :01:07. | :01:10. | |
had priced its shares at $26 each, which is higher than expect that, | :01:11. | :01:17. | |
signalling strong investor demand. The overall stock market valuation | :01:18. | :01:22. | |
is $18 billion, not bad for a company that has never made a | :01:23. | :01:31. | |
profit. It is considered America's past time. They are a minor league | :01:32. | :01:43. | |
baseball team based in Coney Island. They have been drawing the crowd for | :01:44. | :01:48. | |
12 years. This is the team's Director of Communications, and | :01:49. | :01:51. | |
Twitter has become a huge part of his job. This is an everyday thing. | :01:52. | :02:01. | |
Every hour, every minute. We have to monitor it all the time, | :02:02. | :02:05. | |
particularly when we have games. When the games are being played | :02:06. | :02:11. | |
here, they get very busy. Billy tweets about the experience of the | :02:12. | :02:15. | |
stadium and, of course, after every single score. He also receives | :02:16. | :02:22. | |
feedback from everyone who has come to watch the game here at Coney | :02:23. | :02:26. | |
Island. Some people pay for their advertisements to appear on his | :02:27. | :02:31. | |
timeline. Advertising accounts for 91% of Twitter's revenue. However, | :02:32. | :02:38. | |
the company is yet to turn a profit. For an advertiser, Twitter is a | :02:39. | :02:45. | |
valuable proposition. The future value of Twitter is that right now, | :02:46. | :02:49. | |
they are only making money from a small percentage of its user base. | :02:50. | :02:54. | |
Going forward, as they begin to monetise the rest of their users, | :02:55. | :03:00. | |
there will be opportunities. And it's not just a fad. It's something | :03:01. | :03:07. | |
that everybody uses. Unlike MySpace, Twitter and Facebook have done great | :03:08. | :03:13. | |
jobs in letting it be what it is. For businesses, it's a great way to | :03:14. | :03:19. | |
see your client base expand. Twitter and social media is not going to go | :03:20. | :03:23. | |
away. It will only get bigger. That is only if fans continue to follow | :03:24. | :03:30. | |
Billy's tweets. The website thrives on its popularity. What's Twitter | :03:31. | :03:35. | |
requires is not a home run but many regular hits. | :03:36. | :03:43. | |
We will be talking more about Twitter when we talk about the | :03:44. | :03:50. | |
day's newspapers. Is a cut in interest rates on the cards for the | :03:51. | :03:55. | |
eurozone? Officials at the European Central Bank meet later today to set | :03:56. | :04:00. | |
the cost of rowing in the eurozone. Interest rates are already at a | :04:01. | :04:07. | |
record low. `` the cost of borrowing in the eurozone. Prices are rising | :04:08. | :04:12. | |
at a very slow rate archly due to falling wages. Annual inflation fell | :04:13. | :04:20. | |
to a rate of 0.7% in October, well below the target of 2% for a healthy | :04:21. | :04:26. | |
economy. Unemployment is still at 12.2%. The economy is forecast to | :04:27. | :04:34. | |
grow at only 1.1% next year, according to the European | :04:35. | :04:39. | |
Commission. Thank you for joining us. First of all, what do you expect | :04:40. | :04:51. | |
them to do today? It is fair to say that the dynamics have changed going | :04:52. | :04:57. | |
into today's meeting. Some of the information coming out of the | :04:58. | :05:00. | |
eurozone has been soft. Inflation has been at new low levels. | :05:01. | :05:09. | |
Unemployment is at new high levels. In addition, the credit picture is | :05:10. | :05:16. | |
decidedly anaemic. All of that gives plenty of fodder for the governing | :05:17. | :05:20. | |
Council to think about. However, we are not expect in the European | :05:21. | :05:25. | |
Central Bank to jump the run with an interest rate cuts today `` jumped | :05:26. | :05:32. | |
the gun. It is not just about the information being weak, it is about | :05:33. | :05:35. | |
whether they are weaker than expected. It is worth recalling that | :05:36. | :05:41. | |
the governing Council has been talking about a week recovery for | :05:42. | :05:47. | |
some time, now. And interest rate cut would give a symbolic boost, | :05:48. | :05:52. | |
perhaps, to financial markets, and possibly a feelgood factor for a | :05:53. | :05:57. | |
short time. But what impact would it have in helping the economy? From | :05:58. | :06:02. | |
the European Central Bank's perspective, they will be more | :06:03. | :06:06. | |
interested in pockets of vulnerability in the eurozone. That | :06:07. | :06:11. | |
suggests that more targeted support should be on the agenda. That might | :06:12. | :06:18. | |
include further liquidity for struggling banks. An interest rate | :06:19. | :06:22. | |
cut is not likely to have an immediate impact on the real | :06:23. | :06:27. | |
economy. The euro has been declining in recent days, but today, it is | :06:28. | :06:33. | |
heading up due to the strong economic news we had out of Germany | :06:34. | :06:38. | |
yesterday. What is your prognosis for the eurozone? I do not imagine | :06:39. | :06:46. | |
Mario Draghi getting away without highlighting the euro in some way. | :06:47. | :06:52. | |
That said, I believe the European Central Bank will be at pains to | :06:53. | :06:56. | |
emphasise that the exchange rate itself is not a target on its own. | :06:57. | :07:02. | |
In fact, other members have in recent weeks downplayed the strength | :07:03. | :07:07. | |
of the euro as a real headwind for the recovery. In general, I believe | :07:08. | :07:13. | |
the European Central Bank will forecast a sluggish return to growth | :07:14. | :07:18. | |
in the eurozone. All indicators suggest that is what is on the | :07:19. | :07:27. | |
cards. Thank you. Financial markets across the globe | :07:28. | :07:30. | |
are very much watching the central bank. How are the market is doing | :07:31. | :07:46. | |
today in Asia? `` markets. Asian investors are also watching very | :07:47. | :07:51. | |
closely. They are looking at how the federal Reserve will react to key | :07:52. | :07:56. | |
economic reports and how that will affect monetary policy going | :07:57. | :08:08. | |
forward. `` Federal Reserve. This might give some indication as to | :08:09. | :08:14. | |
when the central bank might wind down its stimulus initiatives. | :08:15. | :08:19. | |
Looking at the markets right now, shares are at record low levels as | :08:20. | :08:24. | |
investors are reluctant to bid on stocks. There are losses in Hong | :08:25. | :08:32. | |
Kong and China. Dealers are cautious behind a Chinese Communist Party | :08:33. | :08:35. | |
gathering this weekend, which is expect to outline economic policy | :08:36. | :08:41. | |
for the next five years. The Japanese market is also flat, as | :08:42. | :08:44. | |
investors search for new trading opportunities. It is all about | :08:45. | :08:54. | |
waiting and watching. Thank you. More detail, now, on that report | :08:55. | :09:00. | |
from the US. The US economy may have lost some steam in the three months | :09:01. | :09:06. | |
to September. Official figures are expected to show annual growth | :09:07. | :09:11. | |
slowing to 2% in the third quarter, down from the previous three months. | :09:12. | :09:15. | |
This could be justification for the Federal Reserve to keep it to be | :09:16. | :09:22. | |
less programme in place. On Friday `` to keep its stimulus programme in | :09:23. | :09:27. | |
place. Reports on Friday also indicated an increase in the | :09:28. | :09:33. | |
unemployment rate. BP, Morgan Stanley and Shall our three | :09:34. | :09:41. | |
companies `` Shell are among three companies accused of conspiring to | :09:42. | :09:49. | |
fix the Brent oil rates. The benchmark is used to price around | :09:50. | :09:54. | |
60% of world crude and determines the cost of petrol and heating fuel. | :09:55. | :10:07. | |
That is all from BBC business | :10:08. | :10:08. |