
Browse content similar to 24/05/2012. Check below for episodes and series from the same categories and more!
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A global emergency, a new campaign is launched to help eradicate polio. | :00:10. | :00:15. | |
After hours of talks, Europe's leaders agreed to balance cuts with | :00:15. | :00:20. | |
Croke but still no solution to the Greek crisis. The brother of | :00:20. | :00:23. | |
Chinese activists Chen Guangcheng escapes from his closely guarded | :00:23. | :00:31. | |
village. I am Tim Willcox. Also coming up, Des two of Egypt's | :00:31. | :00:34. | |
historic elections with millions going to the polls to vote for a | :00:34. | :00:38. | |
new President, and it is another housing bubble about to burst, this | :00:38. | :00:48. | |
| :00:48. | :00:57. | ||
Member states of the World Health Organisation are expected to | :00:57. | :01:01. | |
declare polio to be a global health emergency when they meet today. The | :01:01. | :01:05. | |
WHO had originally said the year 2000 as its target for polio | :01:05. | :01:10. | |
eradication, but the date was missed. It remains endemic in just | :01:10. | :01:14. | |
three countries, Afghanistan, Pakistan and Nigeria, but recently | :01:14. | :01:20. | |
there have been outbreaks in other countries. Imogen Foulkes reports | :01:20. | :01:23. | |
from Geneva. A crippling disease which has blighted the lives of | :01:24. | :01:28. | |
thousands of children, now the World Health Organisation believes | :01:28. | :01:32. | |
the longed-for goal of polio eradication is finally in sight. | :01:32. | :01:38. | |
India, with a population of 1.2 billion, was a huge challenge, but | :01:38. | :01:42. | |
now, thanks to an intense immunisation campaign, it is polio | :01:42. | :01:48. | |
three. India can do it, and so the WHO believes the rest of the world | :01:48. | :01:53. | |
can. But there are problems. It is endemic in Afghanistan, Pakistan | :01:53. | :01:58. | |
and Nigeria. That is a risk not just inside their borders. There | :01:58. | :02:02. | |
have been recent worrying outbreaks in neighbouring countries once | :02:02. | :02:10. | |
declared polio free. In China and the Democratic Republic of Congo, | :02:10. | :02:15. | |
it killed half of those who contracted. The WHO says that until | :02:15. | :02:19. | |
every child is vaccinated, every child is at risk. It wants donor | :02:19. | :02:23. | |
countries to support one last effort at eradication, because if | :02:23. | :02:27. | |
they do not, polio could come back with devastating consequences for | :02:27. | :02:37. | |
| :02:37. | :02:38. | ||
Let's talk about some forecasts which are not very good news for | :02:38. | :02:41. | |
the eurozone and Germany in particular. He will have hit the | :02:41. | :02:46. | |
nail on Edward that one, the numbers coming out of here, the | :02:46. | :02:50. | |
purchasing managers' index, you may look it bought when I mention that, | :02:50. | :03:00. | |
and for an average audience it can be, but it is very important. The | :03:00. | :03:03. | |
purchasing managers said at the top of the entire supply chain for all | :03:03. | :03:07. | |
sorts of industries. They make the orders going forward. If they are | :03:07. | :03:10. | |
in the doldrums, that eventually feed through the entire supply | :03:11. | :03:14. | |
chain, and the numbers coming out of Europe do not bode well. The | :03:14. | :03:19. | |
service sector down to a seven- month low, manufacturing is down to | :03:19. | :03:25. | |
levels we have not seen since 2009, a three-year low. Straight after | :03:26. | :03:30. | |
the Lehman's collapse. Yes, and the numbers are really showing the | :03:30. | :03:33. | |
catch-up to the likes of Germany and France, in particular Germany. | :03:33. | :03:39. | |
We have the very influential survey looking at business sentiment, and | :03:39. | :03:43. | |
that drop quite sharply for the month of May. I was talking to our | :03:43. | :03:46. | |
experts earlier and asked whether this is evidence that the slowdown | :03:46. | :03:50. | |
in the rest of the eurozone region could finally be catching up on the | :03:50. | :03:56. | |
big guns like Germany. There are strong headwinds coming, not least | :03:56. | :04:01. | |
from the renewed tensions with the sovereign crisis, with the question | :04:01. | :04:06. | |
marks about Greece, the question marks about Spain. We have to | :04:06. | :04:09. | |
remember that is an absolute terms. Germany is still a performing in | :04:09. | :04:14. | |
relative terms. The weakness we saw in the German survey data today | :04:14. | :04:19. | |
would point to flat growth in the second quarter after a strong first | :04:19. | :04:25. | |
quarter, which compares to the euro area falling by about 5% -- 0.5%. | :04:25. | :04:28. | |
Germany is still outperforming in relative terms, even if the | :04:28. | :04:33. | |
magnitude in absolute terms is not quite as shiny as before. Just | :04:33. | :04:39. | |
briefly, surely the big concern, some economists are saying that if | :04:39. | :04:43. | |
this is happening before the event, what about when the issue finally | :04:43. | :04:48. | |
tops and Greece possibly Exits the region? I do not think we are quite | :04:49. | :04:52. | |
there yet. I think the incentives remain very high for that not to | :04:52. | :04:56. | |
happen. Of course, it is difficult to predict what will happen in | :04:56. | :04:59. | |
Greek politics, but the signs on the opinion polls and that we have | :04:59. | :05:05. | |
had from the radical Left leader in recent days suggests that they | :05:05. | :05:10. | |
might try to look for a compromise on which they can stay in the euro | :05:10. | :05:15. | |
area and renegotiate the bailouts. But it is still a big question mark, | :05:15. | :05:19. | |
and it is pressing on people's minds, but in my view Greece as | :05:19. | :05:24. | |
more likely to stay in and out. Moving on, the world's second | :05:24. | :05:30. | |
biggest brewer has reported a 55% rise in earnings. SAB Miller made | :05:30. | :05:36. | |
$5.6 billion before tax. The fall in the European revenue was more | :05:36. | :05:40. | |
than offset by soaring sales in Asia, Africa and Latin America. | :05:40. | :05:45. | |
Earnings were also boosted in part by its takeover of rival Foster's | :05:45. | :05:48. | |
back in September last year. Jamie Wilson is chief financial officer | :05:48. | :05:53. | |
at SAB Miller. Great to have you with us. Before we talk about the | :05:53. | :05:56. | |
region's annual sales, you have got to say, solid numbers that you have | :05:56. | :06:02. | |
reported today, but these numbers were certainly helped by the sales | :06:02. | :06:08. | |
of the Russian and Ukrainian businesses. Yes, good morning. Well, | :06:08. | :06:13. | |
they certainly are, but if you strip out the acquisitions and | :06:13. | :06:17. | |
mergers part of our results, we are still reporting very large growth | :06:17. | :06:24. | |
on an organic basis. We have got 7% growth on sales, 8% on profits. So | :06:24. | :06:30. | |
I think those are pretty solid results, but yes, you are right, we | :06:30. | :06:35. | |
basically exchanged our Russian and Ukrainian businesses for a stake in | :06:35. | :06:39. | |
the wider group in Turkey. That was obvious they are reported as an | :06:39. | :06:42. | |
exceptional profit Veneer. Interesting to see from companies | :06:42. | :06:48. | |
like yourself where your sales up, well, certainly growing, because | :06:48. | :06:51. | |
over the past couple of years, I have been talking about it every | :06:51. | :06:55. | |
day, we have been watching global wealth shift from the likes of | :06:55. | :06:59. | |
Europe and the US to Latin and South America, parts of Asia and | :06:59. | :07:04. | |
Africa. That is where you are seeing it reflected in a sales, | :07:04. | :07:09. | |
isn't it? No, that is correct. We have had very good performance in | :07:09. | :07:12. | |
Latin America and Africa in the last year, but also strong | :07:12. | :07:18. | |
contributions from South Africa and Asia. Those Asians are producing | :07:18. | :07:22. | |
better than Europe and North America to some extent, although | :07:22. | :07:24. | |
North America is slightly different because you have very strong growth | :07:24. | :07:27. | |
in the craft and import sector at the top bend, which is growing in | :07:27. | :07:34. | |
double digits. Briefly, looking at the year going forward, what impact | :07:34. | :07:41. | |
will lead the from the rising cost of raw materials? Yes, they mark | :07:41. | :07:45. | |
going up, and we expect to seek input costs go up in single digits, | :07:45. | :07:51. | |
but we expect to be able to recover that with a mixture of pricing and | :07:51. | :07:55. | |
our ability to streamline costs. We still expect to see flat if not | :07:55. | :08:00. | |
growing margins in the year to come. Great stuff, if you can take one of | :08:00. | :08:03. | |
those beers are off the shelf behind you to celebrate! Thank you | :08:03. | :08:08. | |
very much. Jamie Wilson of SAB Miller. We should have some of | :08:08. | :08:11. | |
those in the studio. The world's biggest computer maker, Hewlett- | :08:11. | :08:16. | |
Packard, has confirmed it is laying off 27,000 workers from all of the | :08:16. | :08:22. | |
world, one in 12 of its workforce will have to go. It hopes to save | :08:22. | :08:25. | |
around $3.5 billion by 2014. Some analysts say HPA has not changed | :08:25. | :08:30. | |
its mind set, so will cutting such a large number of jobs make a | :08:30. | :08:36. | |
difference? HP has been in a position of cost cutting and saving | :08:37. | :08:41. | |
its financial health for some years now, and the quickest way to do | :08:41. | :08:46. | |
that is often to cut jobs, unfortunately. They are huge | :08:46. | :08:51. | |
numbers, but I do not know that they are unprecedented or | :08:51. | :08:54. | |
unexpected, rather. You could probably see this coming, because | :08:54. | :08:59. | |
it is such a huge organisation, such a leviathan with so many | :08:59. | :09:04. | |
people that these are the sort of numbers you have to cut, yeah. | :09:04. | :09:09. | |
In other corporate news, it could soon become cheaper and easier to | :09:09. | :09:13. | |
shop electronically around Europe, because the European Court has | :09:13. | :09:16. | |
ruled that MasterCard should slash its fees on cross-border card | :09:16. | :09:23. | |
transactions. At the moment, retailers have to pay hefty charges | :09:23. | :09:26. | |
when customers from another EU state buy goods or services on | :09:26. | :09:30. | |
their cards. Also, Thomas Cook as finely appointed a new chief | :09:30. | :09:37. | |
executive. Harriet Green, currently the boss at premier final, will | :09:37. | :09:44. | |
take over in July. Her appointment ends a long search for the | :09:44. | :09:53. | |
successor. The group's financial woes led to the previous boss | :09:53. | :09:57. | |
quitting last year. It has agreed to sell its subsidiary in India for | :09:57. | :10:00. | |
nearly $150 million in the latest in a series of restructuring moves | :10:00. | :10:04. | |
to try to reduce its 2 billion dollar debt. | :10:04. | :10:08. | |
The double-dip recession is deeper than originally feared he in the UK. | :10:08. | :10:14. | |
The revised figures show that GDP, gross domestic product, contracted, | :10:14. | :10:20. | |
fell, shrank by 0.3% in January to March. It follows the deepest fall | :10:20. | :10:25. | |
in construction output in around three years, a big sting or indeed. | :10:25. | :10:35. | |
| :10:35. | :10:36. | ||
A quick look at the markets, still More than moderate increases there, | :10:36. | :10:41. | |
but typical after we have seen big force. I would go and practise that | :10:41. | :10:46. | |
name! I want to see those pictures and hear that story again, Thomas | :10:46. | :10:54. | |
Cook! See you! Think of the housing market, and one of the first things | :10:54. | :11:00. | |
that come to mind is a huge problem, the US sub-prime market caused the | :11:00. | :11:07. | |
Kate crash, and since then analysts are looking at Canada. Home prices | :11:07. | :11:12. | |
in Toronto have increased 85% over the last decade, but can it last? | :11:12. | :11:22. | |
| :11:22. | :11:26. | ||
Welcome to the new Toronto. Every street has direct elevator access... | :11:26. | :11:31. | |
This is currently listed for $2,100,000. It is good living if | :11:32. | :11:40. | |
you can afford it. Amy and Chris are looking for a more modest place | :11:40. | :11:44. | |
in Toronto. They are currently living in a small furnished rental | :11:44. | :11:48. | |
with their two-year-old daughter. We want to unpacked our belongings, | :11:48. | :11:53. | |
we want a home, we want to plant our feet. They have lost out on | :11:53. | :11:57. | |
four of KERS and backed out of three others. They say competition | :11:57. | :12:02. | |
is so intense that they have seen things get physical. The listings | :12:02. | :12:05. | |
agent back into the corner by the fireplace, someone saying, I'm | :12:05. | :12:09. | |
going to work with you, make sure we get his property, whatever it | :12:09. | :12:15. | |
takes, 200% over the asking price, I will do it, just to try and | :12:15. | :12:20. | |
intimidate them. Toronto prices are being driven by a perfect mix, a | :12:20. | :12:24. | |
record low interest rates, lack of inventory and a stable Canadian | :12:24. | :12:30. | |
economy. Prices appreciated about 85% over the past decade and have | :12:30. | :12:34. | |
been rising steadily after a short and moderate dip caused by the 2008 | :12:34. | :12:39. | |
financial crash. So how much would they pay for a three-bedroom place? | :12:39. | :12:44. | |
It is over one million, but not too much over. The big fear in Toronto | :12:44. | :12:49. | |
and even more so in high-flying Vancouver is this, his real estate | :12:49. | :12:54. | |
at risk of an American-style collapse? The way to place their | :12:54. | :12:59. | |
appreciation is much less than you see in United States for countries | :12:59. | :13:04. | |
such as Ireland that had a real blast. The Irish situation, for | :13:04. | :13:09. | |
example, from trough to peak, four times as great price appreciation | :13:09. | :13:15. | |
as we have seen in Canada. In this account, Toronto is the taught us | :13:15. | :13:18. | |
that has caught the air, and now real estate here is on a par with | :13:18. | :13:23. | |
San Francisco and New York. But David Mehdi army of Capital | :13:24. | :13:28. | |
Economics is not so sure Canada can rely on slow and steady growth. | :13:28. | :13:33. | |
think it is a bubble driven by psychology, fuelled by cheap credit, | :13:33. | :13:37. | |
so the market is borderline irrational. He sees a lot of common | :13:37. | :13:42. | |
factors between what happened in the US in the 2000s and Canada | :13:42. | :13:46. | |
today. Toronto is putting up the most high-rise buildings, anything | :13:46. | :13:54. | |
from 12 to 39 floors, of any city in North America. 132 compared to | :13:54. | :14:00. | |
86 in New York, 17 in Chicago and five in Boston. Most economists | :14:00. | :14:04. | |
agree that real estate valuers will almost certainly be higher in 20 | :14:04. | :14:07. | |
years, so for a young couple looking to invest for the long term, | :14:08. | :14:12. | |
there's really no bad time to buy. That is if there is something they | :14:12. | :14:22. | |
| :14:22. | :14:28. | ||
Still to come, honouring a man who stood up to the Mafia in the town | :14:28. | :14:38. | |
that inspired the film, The Godfather. Amnesty International is | :14:38. | :14:41. | |
warning that the United Nations Security Council is being made to | :14:41. | :14:43. | |
seem increasingly unfit for purpose because world leaders lack the | :14:43. | :14:46. | |
courage to make real and lasting changes. In its annual report, | :14:46. | :14:49. | |
Amnesty says governments around the world have failed to match the | :14:49. | :14:52. | |
courage of the millions of people who took part in protests last year. | :14:52. | :15:02. | |
Our World Affairs Correspondent These are among the latest pictures | :15:02. | :15:07. | |
from Syria. More amateur video showing the shelling of buildings | :15:07. | :15:12. | |
and is an image of a government crackdown on dissent. The team of | :15:13. | :15:16. | |
UN observers sets off from Damascus. The violence and bloodshed | :15:16. | :15:20. | |
continues despite the presence. And the UN has issued new warnings this | :15:20. | :15:26. | |
week about the risk of fall-out civil war. Amnesty International | :15:26. | :15:30. | |
claims the continuing crisis in Syria is the most telling example | :15:30. | :15:34. | |
of why the UN Security Council is now looking tired, out of step and | :15:34. | :15:38. | |
increasingly unfit for purpose, redundant as a guardian of global | :15:38. | :15:44. | |
peace. Thousands of people died in Syria. And we had made a very clear | :15:44. | :15:49. | |
case, as many other agencies did, what was happening there | :15:49. | :15:52. | |
constituted crimes against humanity but there was no action from the | :15:52. | :15:57. | |
council, so what we're asking for right now is, when there is grave | :15:57. | :16:03. | |
human rights abuses, as we have seen in Syria, the use of the veto | :16:03. | :16:06. | |
cannot be allowed without a clear explanation as to why it's | :16:06. | :16:10. | |
happening. Amnesty is in -- accusing government are playing to | :16:10. | :16:14. | |
show leadership to match the courage shown by protesters during | :16:14. | :16:19. | |
the past year. Nick associations this July for the treaty and the | :16:19. | :16:26. | |
global arms treaty, would be an acid test for world leaders to | :16:26. | :16:31. | |
place rights over self-interest and profit. Amnesty calls the past year | :16:31. | :16:35. | |
truly to more to us, millions of people taking to the streets to | :16:35. | :16:39. | |
demand freedom and dignity -- but tumultuous. For putting their lives | :16:39. | :16:43. | |
on the line and some then securing memorable victories. Dictators have | :16:43. | :16:47. | |
fallen but not dictatorship. Amnesty International's view of the | :16:47. | :16:52. | |
impact of what has been a remarkable year for popular protest | :16:52. | :16:57. | |
and campaigning for human rights. For that reason is warning the | :16:57. | :17:07. | |
| :17:07. | :17:12. | ||
This is BBC World News. The headlines. | :17:12. | :17:18. | |
A global emergency. A new campaign is launched to help eradicate polio. | :17:18. | :17:20. | |
Europe's leaders agree to balance cuts with growth to get their | :17:21. | :17:30. | |
The brother of the blind Chinese activist Chen Guangcheng has fled | :17:30. | :17:33. | |
his village in northeastern China. Chen Guangfu is reported to have | :17:33. | :17:36. | |
broken out of Dongshigu having been living under tight guard since his | :17:36. | :17:39. | |
brother escaped house arrest last month. Chen Guangcheng is now in | :17:39. | :17:45. | |
New York with his family. So where is Chen's brother now? The BBC's | :17:46. | :17:52. | |
Michael Bristow is in Beijing. is in Beijing but were not exactly | :17:52. | :17:56. | |
sure where at the moment. We have spoken to his lawyer a few moments | :17:56. | :18:02. | |
ago and he has told us he is OK and he is here and he intends to go | :18:02. | :18:06. | |
back to Shangdong Province in a few days' time. When they had finished | :18:07. | :18:12. | |
what they came to do here. If I can roll back the story a little bit. | :18:12. | :18:18. | |
This is to do with a blind activist, Chen Guangcheng, who fled from his | :18:18. | :18:24. | |
village to Beijing, stayed in the US embassy and now is in America. | :18:24. | :18:29. | |
He went to America on Saturday but fears that his family are being | :18:29. | :18:33. | |
persecuted and put under pressure back in that village in the | :18:33. | :18:39. | |
Shangdong Province, and his elder brother, as indicated, on Tuesday | :18:39. | :18:44. | |
he escaped in a similar way to the blind activist and has come to | :18:44. | :18:50. | |
Beijing. He has come here, he says, to find a lawyer for his son, who | :18:50. | :18:58. | |
has been accused of attempted border -- murder. So, quite a | :18:58. | :19:03. | |
complicated case, but what I think it tells you is that the villagers | :19:03. | :19:06. | |
and relatives of this blind activist, now in the USA, are | :19:06. | :19:11. | |
feeling the pressure in their home village of Shangdong Province. | :19:11. | :19:15. | |
A man who stood up to the Mafia and was murdered 64 years ago is being | :19:15. | :19:18. | |
given a state funeral in Italy later. Platchido Ritzotto took on | :19:18. | :19:21. | |
the gangsters in the town of Corleone, the heartland of the most | :19:21. | :19:24. | |
ruthless Sicilian mafiosi. Alan Johnston has been there to find out | :19:24. | :19:30. | |
why it's taken so long to honour this anti-Mafia hero. | :19:30. | :19:35. | |
It might look peaceful enough, but it is a town with a grim reputation. | :19:35. | :19:40. | |
This is Corleone. Home town of the Godfather in the famous gangster | :19:41. | :19:48. | |
movie. That was fiction. But from these quiet streets, in real life, | :19:48. | :19:53. | |
have come some of Sicily's most violent Mafia bosses. But Corleone | :19:54. | :19:59. | |
was also home up to this man, the union leader, Platchido Ritzotto. | :19:59. | :20:04. | |
Back in the 1940s, he bravely led farm labourers in the struggle with | :20:04. | :20:11. | |
the Mafia over land. One evening, Platchido Ritzotto, he emerged from | :20:11. | :20:15. | |
his offices and walk through town to this corner, where they used to | :20:15. | :20:22. | |
be a bar. We know that he stopped and chatted for a while before | :20:22. | :20:28. | |
moving on into the night, never to be seen alive again. His body was | :20:28. | :20:33. | |
dumped far I wrote in the countryside. The gangsters had | :20:33. | :20:38. | |
murdered him. But just recently, his remains were positively | :20:38. | :20:45. | |
identified. And now, all these decades on, Italy is honouring this | :20:46. | :20:52. | |
anti-Mafia hero. He's been given a state funeral cure in Corleone. And | :20:52. | :20:57. | |
for his nephew, who has the same name, this is important. | :20:57. | :21:07. | |
| :21:07. | :21:07. | ||
TRANSLATION: It will show that the state has come to Corleone. It is | :21:07. | :21:17. | |
present. Today, more than ever, it intends to stand against the Mafia. | :21:17. | :21:23. | |
Corleone has learned to live with its reputation. But Platchido | :21:23. | :21:28. | |
Ritzotto's example inspires people here who detest the Mafia. | :21:28. | :21:33. | |
TRANSLATION: Today young people are moved when they think of this young | :21:33. | :21:36. | |
union leader who the Mafia made disappear, who had the same values | :21:37. | :21:42. | |
of democracy and freedom that they value. | :21:43. | :21:47. | |
The state confiscated this land from the mafioso, and when these | :21:47. | :21:52. | |
workers braved threats from the gangsters and took over the farm, | :21:52. | :22:00. | |
they named it after the fallen hero, Platchido Ritzotto. The mafioso are | :22:00. | :22:06. | |
still here. But the story of the brave union man is proof that | :22:06. | :22:14. | |
Corleone has not only produced a In Azerbaijan, human rights | :22:14. | :22:17. | |
campaigners have been using the run up to the Eurovision Song Contest | :22:17. | :22:19. | |
final to stage further protests against the country's poor human | :22:19. | :22:29. | |
| :22:29. | :22:32. | ||
rights record. Tom Esslemont has In Azerbaijan, contestants for | :22:32. | :22:37. | |
Eurovision are sharpening up their act. But be on the razzmatazz, | :22:37. | :22:41. | |
there are those who want to shine a light on this country's bad human | :22:41. | :22:45. | |
rights record. Protesters have used the moment it to take to the | :22:45. | :22:50. | |
streets, some demonstrations being sanctioned. But this one was not | :22:50. | :22:54. | |
and uniformed officers move the people on. That's why some have | :22:54. | :23:01. | |
opted for a more subtle approach. While police turn their backs, some | :23:01. | :23:05. | |
of the best-known human rights campaigners in Azerbaijan speak out. | :23:05. | :23:12. | |
My message is that it is a shame on people who do not support freedom | :23:12. | :23:22. | |
| :23:22. | :23:24. | ||
in Azerbaijan. We need to support anybody in society. Others like her | :23:24. | :23:28. | |
are angered by this, reports of houses demolished for the contest | :23:28. | :23:31. | |
with little compensation, although the government disputes this and | :23:31. | :23:35. | |
says many were rehoused. Other critics have been harassed and, in | :23:35. | :23:41. | |
some cases, hospitalised. This journalist was attacked by guards | :23:41. | :23:47. | |
from the state oil company. This singer was arrested for insulting | :23:47. | :23:52. | |
the president. But this is a country of extremes. One where the | :23:52. | :23:57. | |
oil wealth is turned into an opulence the elite can enjoy. While | :23:57. | :24:02. | |
large numbers of people live in poverty. But critics be warned. | :24:02. | :24:08. | |
Everywhere you go in Azerbaijan, you are likely to be watched. The | :24:08. | :24:10. | |
winner of the Eurovision Song contest will be known on Saturday | :24:10. | :24:15. | |
night and it's announced here in the crystal Hall, and many are | :24:15. | :24:19. | |
hoping Eurovision carries a legacy of freedom of expression, one that | :24:19. | :24:24. | |
lasts until well after the dazzling lights go out. | :24:24. | :24:27. | |
An Australian mining magnate has been declared the richest woman in | :24:27. | :24:30. | |
the world. Gina Rinehart is now said to be worth nearly $30 billion, | :24:31. | :24:36. | |
having increased her wealth by nearly $20 billion in one year. But | :24:37. | :24:39. | |
Ms Rinehart is a controversial figure in Australia as Duncan | :24:39. | :24:44. | |
Kennedy now reports from Sydney. She's rich and getting very much | :24:44. | :24:52. | |
richer. Gina Rinehart, now declared the wealthiest woman on earth. | :24:52. | :24:56. | |
Greetings. The 58-year-old mining magnate has ridden the boom in | :24:56. | :25:00. | |
Australia's commodities markets and come out the biggest winner. The | :25:00. | :25:03. | |
sums involved in her wealth are enough to bring water to several | :25:03. | :25:09. | |
eyes. She earns at a rate of almost $52 million a day. That's $1 | :25:09. | :25:15. | |
million every half hour. Or nearly $600 a second. In total, it's said | :25:15. | :25:24. | |
she's worth more than $29 billion. It's an increase of more than $18 | :25:24. | :25:29. | |
billion in the past year alone. The same year that Gina Rinehart was | :25:29. | :25:33. | |
involved in some bitter public disputes. Firstly with the | :25:33. | :25:36. | |
government over its new mining tax, and then with three of her four | :25:36. | :25:39. | |
children over control of the family trust, the headlines have not been | :25:39. | :25:43. | |
favourable to Gina Rinehart. But she now overtakes the likes of | :25:43. | :25:46. | |
Christy Walton of the United States and Liliane Bettencourt of France | :25:46. | :25:51. | |
to become the world's richest woman. Though she still has some way to go | :25:51. | :25:53. | |
to match the men, including Microsoft founder Bill Gates and | :25:53. | :25:58. | |
Mexico's Carlos Slim Forbes. But the authors of the new report say | :25:58. | :26:02. | |
at the rate she is going, Gina Rinehart is on target to become the | :26:02. | :26:11. | |
world's first $100 billion person. If she continues like she is now, a | :26:11. | :26:18. | |
lot will depend on demand for resources and growth in Asia, but | :26:18. | :26:21. | |
if those things continue on, it's something which could definitely | :26:21. | :26:24. | |
happen. Gina Rinehart is a very private business woman at the | :26:24. | :26:27. | |
centre of a very public accumulation of wealth that, at the | :26:27. | :26:37. | |
| :26:37. | :26:41. | ||
moment, seems to have no limit. It's day six of the Olympic torch | :26:41. | :26:43. | |
relay and two very unusual spectators are expected on the | :26:43. | :26:46. | |
sidelines to cheer the flame on as it travels from Gloucester to | :26:46. | :26:49. | |
Worcester in the west of England. These two elephants from West | :26:49. | :26:52. |