:00:00. > :00:19.Obama. `` president. Now it is time for the latest
:00:20. > :00:24.business news. The deadline has come and gone, and
:00:25. > :00:34.Argentina is pushed into default for the second time in the 13 years.
:00:35. > :00:43.Plus, the stars of Youtube. People who have toned clips into cash. ``
:00:44. > :00:49.turned. Hello, everyone. Welcome to the
:00:50. > :00:52.programme. Let us take a fascinating and exciting snapshot of all the
:00:53. > :00:59.latest in the world of business and money. We have also got a bit of a
:01:00. > :01:03.row with India. Let us start with Argentina. It has been declared in
:01:04. > :01:14.default on its debts for the second time. Two is a very intense talks
:01:15. > :01:24.between Argentina and some hedge funds holding Argentine debt. The
:01:25. > :01:35.deal expired 30 minutes ago. The economic minister gave it and
:01:36. > :01:41.passion speech to reporters. He insists his country is not in
:01:42. > :01:45.default. Let us rewind a little. The situation dates back to Argentina's
:01:46. > :01:52.original financial crisis in late 2001. It was unable to pay foreign
:01:53. > :01:57.debts of nearly $100 billion. Almost all creditors have since accepted
:01:58. > :02:05.the restructuring deals. 75% has been written off. Except several
:02:06. > :02:10.hedge funds, called vultures by Argentina, they had bought the debt
:02:11. > :02:20.very cheaply when Argentina was in trouble. But they sued the US courts
:02:21. > :02:23.to be paid in full. They need to be paid $1.5 billion, including
:02:24. > :02:30.interest. Argentina fears that it would have to pay its debt in full
:02:31. > :02:35.if they did. The competent things even further, the court has
:02:36. > :02:40.prevented Argentina from paying interest to other debtholders until
:02:41. > :02:47.this has been resolved. It was due until June the 30th, a grace period
:02:48. > :02:58.expired yesterday. Standard and Poor has declared Argentina in selected
:02:59. > :03:01.default. While both sides were still locked in last`minute talks on
:03:02. > :03:06.Wednesday evening, a rally in the centre of the capital brought
:03:07. > :03:09.together people angry about the vultures that Argentina accuses of
:03:10. > :03:14.pushing them into default. The numbers are not big, just a few
:03:15. > :03:19.hundred people. But they represent a feeling I have heard quite a lot.
:03:20. > :03:24.People feel unfairly treated by the financial community. They have given
:03:25. > :03:30.out posters saying, Argentina or the vultures? Later in the evening, the
:03:31. > :03:36.country stuck to its guns. Argentina's economy minister did not
:03:37. > :03:42.hold back. TRANSLATION: The President said it. This government
:03:43. > :03:46.is not going to sign anything or consent to anything despite the
:03:47. > :03:50.pressure being exerted. But it will respect the parameters of the law
:03:51. > :03:55.and respect the interests of the Argentine people. It is more than 12
:03:56. > :04:02.years since Argentina last default it. It unleashed economic chaos.
:04:03. > :04:10.People were killed in street protests. Her plan to purchase a
:04:11. > :04:18.house was scuttled. You could not move it, the money. We had the
:04:19. > :04:27.money, because of the evaluation, we could only get a car. It was
:04:28. > :04:36.terrible. Really terrible. There was no solution. That was the reality
:04:37. > :04:42.for many people. Will this be as bad? Experts say, no. Argentina
:04:43. > :04:46.never returned to international capital markets after the last
:04:47. > :04:54.default. The worldwide impact will be limited. According to this man,
:04:55. > :04:59.the situation at home will not be a crisis. But it will not be easy
:05:00. > :05:05.either. Over time you see the effects of lack of investment. You
:05:06. > :05:10.see the effects of constrained trade with the rest of the world.
:05:11. > :05:18.Financial conditions will become much tighter. That transpires into
:05:19. > :05:25.an economy that is much more stagnant. Argentina has taken a
:05:26. > :05:28.stand, but nobody is a winner. People face rising prices every day
:05:29. > :05:35.in a country already in recession. It will be longer until the vultures
:05:36. > :05:41.stop circling. We will keep across that all day for
:05:42. > :05:48.you. In India, John Kerry is on an official trade visit. US trade with
:05:49. > :05:56.India was worth nearly $100 billion last year. It is up about fivefold
:05:57. > :06:02.since last September. They are at odds over global trade reforms.
:06:03. > :06:06.Particularly over subsidies to its farmers. It is good to have you on
:06:07. > :06:12.the programme. This is what it is all about? The government says they
:06:13. > :06:15.will sign this global trade agreement, but only if we can
:06:16. > :06:23.stockpile food and subsidise farmers. That is it. India says it
:06:24. > :06:27.wants to, despite this trade deal, keep the right to be able to buy the
:06:28. > :06:31.food of farmers for higher than market prices and then sell some of
:06:32. > :06:38.it will market prices to its citizens. `` below. It is important
:06:39. > :06:44.in a country with so much poverty. It does not want to sacrifice that
:06:45. > :06:53.at the cost of signing this deal. It hopes it can have a deal that can
:06:54. > :06:56.happen signed in parallel. It is interesting. Some people might be
:06:57. > :07:05.going, hang on, this government is supposed to be pro` trade. There is
:07:06. > :07:11.that question. Does the US, will this visit see if we can get a
:07:12. > :07:14.U`turn in India? That is what the delegation is hoping to do. It is
:07:15. > :07:21.their first visit since the new government came to power. The
:07:22. > :07:25.relationship is a bit prickly at the moment. President Obama has talked
:07:26. > :07:31.about trying to improve things. There have been so many disputes
:07:32. > :07:37.going on with trade and things like intellectual property. I think it
:07:38. > :07:43.will be an interesting process to watch. Most people do not expect
:07:44. > :07:50.India will agree to the deal. Thank you.
:07:51. > :07:56.Or this week, we have been looking at how the millennial generation,
:07:57. > :08:01.those born after the 1980, how they are using new technology to earn a
:08:02. > :08:05.living. Thanks to the rise of Youtube, one of the most lucrative
:08:06. > :08:15.ways of earning money has turned out to be posting videos online.
:08:16. > :08:19.Companies are queueing up to get their product advertised. What
:08:20. > :08:29.separates the individuals from the amateurs. This is Colin.
:08:30. > :08:35.He makes a living building things at home you probably should not and
:08:36. > :08:41.then posting the videos on YouTube. Some of them have now been watched
:08:42. > :08:48.millions of times. People like Coleen are paid by advertisers for
:08:49. > :08:53.every view of their video. I used to be a plumber. In my spare time I
:08:54. > :09:01.started making things. The combination of doing that and the
:09:02. > :09:08.Internet growing at the same time. As I made bigger and better things,
:09:09. > :09:12.the audience saw me as a mad inventor doing strange things in his
:09:13. > :09:18.shed. His videos have millions of views online. Turning household
:09:19. > :09:24.parts into jet engines is not to everyone's taste. But there are new
:09:25. > :09:31.video blogging channels for everyone on topics from history to
:09:32. > :09:35.philosophy, physics to shopping. Tania was learning to be a make`up
:09:36. > :09:40.artist. Friends suggested she upload tutorials to the Internet so she
:09:41. > :09:44.could practice more and other people could learn. The videos took off and
:09:45. > :09:52.now she makes her living from them full`time. My videos were getting
:09:53. > :09:56.quite a few views. Google got in contact and said, would you like to
:09:57. > :10:04.be a Youtube partner? I have nothing to do with it, they just sort it all
:10:05. > :10:08.out on their end. My view is feel like they are friends with me. It is
:10:09. > :10:15.modestly catching up with them on camera. `` more just me. So if you
:10:16. > :10:18.have a skill or passion you think millions of others would want to
:10:19. > :10:25.watch, there are ways to make money from it. Even if it is by building
:10:26. > :10:35.and filming the world's fastest mobility suit `` scooter. He makes a
:10:36. > :10:39.fortune, apparently. If any of you want to get in touch,
:10:40. > :10:52.get in touch with you on Twitter. See you shortly.
:10:53. > :10:57.According to new research from public health England we should be
:10:58. > :11:00.measuring and monitoring our waistlines. Analysis shows people
:11:01. > :11:02.with bigger stomachs won a higher risk of developing