:00:00. > :00:09.You are watching the PC world news. Apologies for the technical problems
:00:10. > :00:20.we are having. I will hand you over to Sally Bundock.
:00:21. > :00:24.Talking tough, President Obama and European Union leaders agree to
:00:25. > :00:31.adopt broader sanctions against Russia, but will Mr Putin blink? And
:00:32. > :00:33.Japan sees an improving economic picture, with a stronger labour
:00:34. > :00:42.market and households willing to spend a bit more Welcome to World
:00:43. > :00:46.Business Report. I'm Sally Bundock. Also in the programme, we have part
:00:47. > :00:51.two in our series about how new tech has enabled the young to create jobs
:00:52. > :00:54.that never before existed. President Obama and European Union leaders
:00:55. > :00:57.have agreed to impose further sanctions on Russia because they say
:00:58. > :01:04.they have seen no evidence that President Putin is preparing to
:01:05. > :01:07.change policy on eastern Ukraine. Full details are to be finalised at
:01:08. > :01:14.a meeting of European Union officials on Tuesday. So what areas
:01:15. > :01:17.are expected to be targeted? Financial, defence and energy
:01:18. > :01:20.sectors are among those likely, as well as banning European investors
:01:21. > :01:25.from buying new debt or shares of banks owned 50% or more by the
:01:26. > :01:28.state. And an embargo on arms sales to Moscow and restrictions on the
:01:29. > :01:31.supply of energy and dual`use technologies is also on the table,
:01:32. > :01:34.but it looks as though restrictions to supplying technology to Russia
:01:35. > :01:45.will include oil but exclude the gas sector. Here's what Tony Blinken the
:01:46. > :01:46.national Security Adviser to President Obama had to say
:01:47. > :01:58.yesterday. The European leaders clearly shared
:01:59. > :02:05.the assessment of the determination to act. We expect the European Union
:02:06. > :02:09.to take additional steps this week, including at key sectors of the
:02:10. > :02:15.Russian economy. In conjunction with Europe, the United States will
:02:16. > :02:29.implement measures. It is not to punish Russia, but it is because of
:02:30. > :02:35.the situation in Ukraine. How tough will these sanctions be? They will
:02:36. > :02:44.be tougher than the sanctions we have seen to date. There have been
:02:45. > :02:50.sanctions on friends close to President Putin. We are now seeing
:02:51. > :02:55.more sanctions coming from the EU. These are
:02:56. > :03:06.tier three sanctions. It may involve supply to the energy sector. What
:03:07. > :03:11.impact will this have on Russia? It could be quite damaging, especially
:03:12. > :03:18.financially. They are banning Russia from recent capital on European
:03:19. > :03:23.markets. That will be damaging to Russian businesses, especially those
:03:24. > :03:29.that are state owned, with 50% more of speech shares. There is evidence
:03:30. > :03:34.over the last few months that the initial impact of the sanctions was
:03:35. > :03:43.tough. Consumer sentiment fell. We have seen that comes back recently.
:03:44. > :03:52.The new sanctions could prove more long`lasting. Would it change the
:03:53. > :03:57.actions of President Putin? We will have to wait to see what the
:03:58. > :04:02.financial sanctions do. There is talk about credit availability of
:04:03. > :04:07.companies and the interest costs they pay. That will be one
:04:08. > :04:17.indication of how much it is hurting Russia. Where it will really hurt us
:04:18. > :04:25.in the oil and gas sector. That is something that Europe has been
:04:26. > :04:32.tentative in doing. There is talk about seizing assets held by Shell
:04:33. > :04:39.and BP. That is certainly the area that will hurt Russia. There is an
:04:40. > :04:43.option for them to retaliate. They haven't shown any signs of wanting
:04:44. > :04:56.to retaliate. They have taken them on the nose and ignore them so far.
:04:57. > :05:03.`` ignored. As we get confirmation on those sanctions, we will update
:05:04. > :05:06.you. Members of the Millennial generation who've come onto the job
:05:07. > :05:09.market since the crisis of 2008 have had well`publicised problems finding
:05:10. > :05:11.work. Careers that sustained many previous generations, who became
:05:12. > :05:16.lawyers or doctors, for example, are often no longer an option. But some
:05:17. > :05:19.young people are finding ways to earn a living from skills they
:05:20. > :05:21.learned not at school, but from chatting with their friends on
:05:22. > :05:24.social media. Samira Hussain reports from New York on the opportunities
:05:25. > :05:33.opened up by technology that didn't even exist a few years ago. Wearing
:05:34. > :05:40.casual clothes, strolling through New York's Park, snapping photos on
:05:41. > :05:48.his phone, and then it may look like he is on vacation, but he is
:05:49. > :05:57.actually working. It is unique. This job didn't exist two years ago. They
:05:58. > :06:00.are stunned that I can make a living taking pictures with a cellphone. I
:06:01. > :06:14.am stunned to. He makes a running marketing campaigns on
:06:15. > :06:24.Instagram. He has been hired by a large American brands, including
:06:25. > :06:30.Delta. He is taking photos for a client today. Once he makes a few
:06:31. > :06:37.changes, it is ready to go. Snapchat, Vine, Tumbler, These sites
:06:38. > :06:43.all depend on people following you. Your status increases the more
:06:44. > :06:49.friends you have. It is a goldmine for brands. If they want to increase
:06:50. > :06:54.their visibility with Millenials, to technology they must go. This is
:06:55. > :06:59.where young people are spending their time and communicating.
:07:00. > :07:02.Understanding that that is where this generation is and where they
:07:03. > :07:12.are spending their time, I understand that. I drop using these
:07:13. > :07:19.apps. I love them. It is important to embrace them for what they are.
:07:20. > :07:31.She made a name for herself as the Picasso of Snapchat. It has a fun
:07:32. > :07:40.doodle aspect. She doesn't know anyone else who does what she does.
:07:41. > :07:43.At least not yet. Job availability in Japan hit its highest in 22 years
:07:44. > :07:45.in June as companies grow more confident about hiring, and
:07:46. > :07:48.household spending rebounded modestly. But it's not all good news
:07:49. > :08:01.for Prime Minister Shinzo Abe at home. First to Sharon. There is a
:08:02. > :08:07.lot of information coming out about the health of the Japanese economy.
:08:08. > :08:13.Tell us more. You talk about jobs, but there is other data. It is all
:08:14. > :08:16.due to the sales tax hike in April. That is denting consumer demand,
:08:17. > :08:22.although not as much as previously feared. The fear was that consumer
:08:23. > :08:28.demand would plunge in the wake of the April one that the hike and hit
:08:29. > :08:32.producers. We know that spending did fall after the tax rise. Official
:08:33. > :08:38.data says household spending is down 3% on the year end June. That is a
:08:39. > :08:44.much smaller decrease than the 8% drop in May. Retail sales are also
:08:45. > :08:50.down .6% in June, declining for the third straight month. That is a sign
:08:51. > :08:56.of a pullback in demand after the tax rise still remains a drag on
:08:57. > :09:00.consumer spending, but not quite so much. The government raised that
:09:01. > :09:02.sales tax to 8% from 5% on April one. That was an attempt to try to
:09:03. > :09:18.fix Japan's finances. Schindler `` Shinzo Abe is suffering the
:09:19. > :09:22.polls. He has been introducing measures to try to inflate Japan's
:09:23. > :09:30.economy, including in the rural sector. The Federal Reserve starts
:09:31. > :09:35.its two`day meeting today. There is a loss of news on the United States
:09:36. > :09:46.economy coming out. It is a packed agenda. We now look to the papers.
:09:47. > :09:47.Thank