:00:00. > :00:00.tackle the virus are being undermined. `` can purchase letters
:00:07. > :00:12.with false paperwork. Now for the latest business news.
:00:13. > :00:26.A two tier Internet market. Businesses fear that that could be
:00:27. > :00:30.the future as those who provide the pipelines look to charge certain
:00:31. > :00:35.customers more. It has been called a mini stimulus package but Chinese
:00:36. > :00:40.plans to boost the economy are by no means small.
:00:41. > :00:49.A very warm welcome. Also in the programme: We gauge reactions to the
:00:50. > :00:55.comments from the IMF boss who warns that the global economy is still too
:00:56. > :00:59.weak. First, every year, there is another surging demand for films and
:01:00. > :01:04.music streamed over the Internet. The telecom companies which the
:01:05. > :01:08.pipelines for delivering the content would like to increase their charges
:01:09. > :01:12.for high`speed streaming. They say that it is only fair that the
:01:13. > :01:15.company is using them the most should pay extra. The European
:01:16. > :01:20.Parliament will today vote on whether to allow this to happen. The
:01:21. > :01:21.idea is very unpopular with many Internet users and content
:01:22. > :01:39.providers. BloomFM Provides a busy streaming
:01:40. > :01:42.service. It is a minnow compared to competitors such as Google. Telecom
:01:43. > :01:45.companies which provide Internet network would like to be able to
:01:46. > :01:50.charge premium rates to the providers of films and television
:01:51. > :01:55.and music if they want them streamed to the users at high speed. Giant
:01:56. > :02:03.corporations like Google may be able to afford the rates. BloomFM says
:02:04. > :02:10.that they could not. If the user is getting a disadvantage when using
:02:11. > :02:15.our service and it is skipping or not very good, we are giving them
:02:16. > :02:19.fewer choices and less opportunity. There has been a surge in demand for
:02:20. > :02:22.streamed films and music on the Internet. Over the course of the
:02:23. > :02:29.last year, data traffic on the Internet rose by 57% in Western
:02:30. > :02:34.Europe and 77% in North America. Service providers such as Vodafone
:02:35. > :02:39.say that print content uses up so much capacity on their networks that
:02:40. > :02:45.they are constantly having to build more. They need to charge premium
:02:46. > :02:48.rates to be able to pay for that investment. But there is a principle
:02:49. > :02:51.at stake. The notion that the Internet should be open equally to
:02:52. > :02:58.all. This analyst foresees that the rise of a new two tier Internet.
:02:59. > :03:03.There will be a low tier. The Socialist principle of unimpeded
:03:04. > :03:07.content is likely to be congested. Above that will be the express lane.
:03:08. > :03:12.This will be controlled by corporations, largely out of the US,
:03:13. > :03:16.given that it is a more entertainment driven environment.
:03:17. > :03:19.And measure before the EU parliament would allow service providers to
:03:20. > :03:23.charge premium rates for streamed content but would cap the price is.
:03:24. > :03:24.The measure is likely to face strong opposition in the Parliament from
:03:25. > :03:34.political groups on the left. Will stay with what's going on in
:03:35. > :03:40.Brussels. A flurry of activity. The European Parliament will also vote
:03:41. > :03:46.on the tradition on a cap on charges for bank transactions harbouring ``
:03:47. > :03:49.following heated debate. The EU will decide on whether to set a limit to
:03:50. > :03:53.the charges that the shop must pay to the bank when you purchase
:03:54. > :04:03.something within the EU using your credit card. I'm joined by the
:04:04. > :04:11.director of Euro Commerce for more detail. Can you clarify the charges
:04:12. > :04:15.this vote is about? The charges are what we call interchange fees. These
:04:16. > :04:21.are that these that the retailer has to pay the bank of the consumers. ``
:04:22. > :04:29.retailer's bank. It is a charge which retailers do not have a way to
:04:30. > :04:34.negotiate. It is imposed by card schemes and agreed between banks.
:04:35. > :04:40.Retailers pay 14 billion euros, 70% of the costs are interchange fees.
:04:41. > :04:45.We are looking forward to a positive vote in the Parliament today for
:04:46. > :04:50.these fees to be considerably reduced to the benefit of
:04:51. > :04:56.retailers, small and large but also consumers. Is it just applicable to
:04:57. > :05:01.retailers, not to other businesses from whom we buy services such as
:05:02. > :05:06.airlines? Exactly that. You are correct to point out that this does
:05:07. > :05:11.not only apply to retailers. It applies to airlines, petrol and gas
:05:12. > :05:16.stations, and increasingly also for any e`commerce companies. We are
:05:17. > :05:20.moving towards electronic payments and it is therefore quite important
:05:21. > :05:26.that the affordability of payments is considerably improve. In terms of
:05:27. > :05:31.the card is used, is it credit and debit cards? Quite often, when we
:05:32. > :05:36.pay something with a credit card, we have to pay extra for the privilege.
:05:37. > :05:42.The proposed regulation would apply to both credit and debit cards. We
:05:43. > :05:48.do hope that that the costs would go down, meaning that the amount of
:05:49. > :05:52.card transactions, especially debit transactions, will increase
:05:53. > :05:59.significantly. This would also improve consumers `` for consumers.
:06:00. > :06:03.Thank you. We appreciate your time. We will keep an eye on both those
:06:04. > :06:07.stories in Brussels when the boats occur. We will update you. Let's
:06:08. > :06:11.talk about the global economy. We could be heading for years of subpar
:06:12. > :06:16.growth according to the head of the International monetary fund. She
:06:17. > :06:20.said that the world is emerging from the greatest financial crisis in
:06:21. > :06:24.almost 100 years and is at a critical juncture. She urged more
:06:25. > :06:29.action to tackle low inflation in the eurozone. Growth remains slow
:06:30. > :06:34.and weak. And that the cost of continued sluggish growth are high.
:06:35. > :06:38.Modest income gains on my meagre reductions of unemployment and
:06:39. > :06:45.inequality. Very labourious reduction of deficit.
:06:46. > :06:53.Re`establishment of a good debt trajectory, all of that. The risk is
:06:54. > :06:59.that without sufficient policy ambition, the world could very well
:07:00. > :07:05.fail into a middle term `` medium term, low growth trap. Despite her
:07:06. > :07:09.warnings, markets continue to surge around the world with investors
:07:10. > :07:14.pushing global 's docks to post crisis highs. News from China today
:07:15. > :07:21.that they are taking steps to fuel the economy and that has helped the
:07:22. > :07:23.increase. It was music to the ears of investors when China said that
:07:24. > :07:27.they would pump more money into the economy? That's right. As you say,
:07:28. > :07:31.shares are rising pretty much across the board. They are actually all up
:07:32. > :07:37.for the seventh day. That marks the longest rally so far this year. They
:07:38. > :07:43.are not up by much but the fact that they are still in positive set ``
:07:44. > :07:46.territory, as you say, that was after the Chinese government acted
:07:47. > :07:50.to boost economic growth in the first time this year. The government
:07:51. > :07:58.says it will cut taxes on small firms and plans to speed up the
:07:59. > :08:00.construction of railway lines. The measures had previously been
:08:01. > :08:04.included in the economic workplan for 2014 but they had not actually
:08:05. > :08:08.been put together before in a package quite like this, aimed at
:08:09. > :08:12.boosting growth. We know that this comes after a string of
:08:13. > :08:16.disappointing data from China which had been leading to fears of a
:08:17. > :08:19.slowdown. It was now really after the weekly meeting on Wednesday that
:08:20. > :08:22.the government announced these measures. They include an 18%
:08:23. > :08:25.increase in the total number of railway lines being built compared
:08:26. > :08:29.to last year. Many of those tracks are in rural parts of China, the
:08:30. > :08:36.central and western regions of the country. They wish to finance the
:08:37. > :08:38.investment by selling $24 billion of government bonds. Chinese
:08:39. > :08:44.authorities say that they will extend tax provisions granted to
:08:45. > :08:49.small businesses into 2016. Last month, we heard from the National
:08:50. > :08:56.Peoples that Mac Congress that the tax rate is being kept at the 7.5%
:08:57. > :08:59.rate. There is a slowdown in the manufacturing activity which is
:09:00. > :09:08.leading analysts to question the growth target of 7.5%. `` National
:09:09. > :09:14.People's Congress. Thank you very much. We will look at the market in
:09:15. > :09:18.a moment. President Putin has signed an executive order scrapping a 2010
:09:19. > :09:23.agreement with Ukraine which ensured a discounted gas price in exchange
:09:24. > :09:29.for the right to station about `` Black Sea Fleet in Premier. Ukraine
:09:30. > :09:35.could see a further increase in the cost of Russian gas. That is an
:09:36. > :09:39.important story. We will keep you up`to`date on that as the changes.
:09:40. > :09:46.These are the markets. The seven`day rally has a lot to do with China but
:09:47. > :09:52.also the fact that we are seeing a global rally on markets. Look at the
:09:53. > :09:55.close in the US. We will discuss this further when we look at
:09:56. > :09:56.newspapers. It is all over the Financial Times. See you soon. With
:09:57. > :09:59.us.