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tv   BBC World News America  PBS  October 18, 2012 6:00pm-6:30pm EDT

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>> this is "bbc world news america." funding for this presentation is made possible by the freeman foundation of new york, stowe, vermont, and honolulu, newman's own foundation, and union bank. >> at union bank, our relationship managers use their expertise in global finance to guide you through the business strategies and opportunities of international commerce.
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we put our extended global network to work for a wide range of companies, from small businesses to major corporations. what can we do for you? >> and now, "bbc world news america." >> this is "bbc world news america." protests were the new -- over new cutbacks in greece. is china growing too fast? let's get ready for a rumble. millions take part in the biggest earthquake drill.
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welcome to our viewers on public television in america and around the globe. european leaders are in brussels this evening for more crucial talks on the euro zone debt crisis. if you have a sense of deja vu, you are not alone. it is the fourth time they have met the share. they're trying to bridge differences over plans for a banking union and new rules over banking supervision. our europe editor is that the bureau sent tonight. >> it may look familiar and today is. this is the 22nd summit since the start of the euro zone crisis. leaders are still struggling to agree and to find a solution. there is a german division, which involves giving brussels of veto over national budgets. so far, it has few takers.
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>> this will not be -- we must lay the groundwork and we will have a lot to do. >> stepped forward the french president. he was dismissive. he said the german idea was not even on the summit's agenda. >> we need a banking union and that means supervision of the banks by a central authority. we need to avoid any more of the types of crisis which have brutalized the euro zone. >> this plan would enable struggling banks in places like spain to directly tap the bailout fund. the encounters between the french and german leaders bristled with attention. there was much shaking of heads. the germans have allies in wanting to apply the brakes to a banking union. >> who is recapitalizing that?
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that is what the market wants to know. and that is what taxpayers want to know. they do not want to cover losses in other nations state's banking systems. >> the british are seen as outsiders. wary of any decisions that could impact on u.k. national interest. the differences between france and germany are quite significant. the germans want closer integration in order to prevent similar crises in the future. the french want solidarity now. the sharing of debt with those countries in deepest trouble. in greece today, at a time did general strike to send a message to the summit that they had reached their limits with austerity. once again, there was violence. greece must agree further spending cuts to qualify for more funding.
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uropods leaders believe they are making progress, -- europe's leaders believe they are making progress. spain must decide whether it needs a full bailout. >> as we saw, there have been protests in greece today over the latest round of government cutbacks. for more on that, i spoke to our correspondent in athens. >> the protest was focused on the next wave of austerity measures to be announced in the next few days. 13.5 billion euros worth of savings the government is going to announce in order to get the next installments. people were out on the streets in the tens of thousands and the message was very much that greece had already gone through endless wave of austerity measures and they cannot take any more. they feel they have been pushed to the land and you have this huge demonstration in advance
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and a general strike across the public and private sectors. the government is standing firm. it believes it needs to push through these austerity measures in order to get the vital rescue fund. it has been told by the imf and the eu. you had this increasing disconnect between the streets and the government's with a growing anger between the two. that is pretty dangerous. it is translating into a massive loss of confidence in the government. >> european leaders are meeting to try to haggle over whether or not to centralize control of the banks. would that make any difference to the greece situation? >> they do not care about what is happening to the banks. banks are the focus of the rage very much.
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a lot people say the money is coming and to recapitalize the banks, but not to make life easier. this is a country singer record unemployment. -- this is a country seeing record unemployment. a third of this country has been pushed below the poverty line. that is what people care about and they are absolutely furious with the banks and with their own government. well we are seeing with this anger and loss of faith in the state is the greeks are being pushed to political extremes. neo-nazi party is capitalizing on that and there. it is the third most popular party here. that tells you a lot about the theory on the streets of athens and other big cities and the darkness of the public mood. >> thank you. the debt crisis in europe and sluggish growth in the u.s. has had a huge impact on china.
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the country has seen a drop in demand for its exports. new figures show annual growth there has slipped to 7.4%. that is still an enviable rate compared to most of the world. our correspondent looks at china's toxic legacy. >> they call its -- on every street in every alley, they are making -- if you wear a pair, it was probably made a year. created jobs for millions. like all of china, this town was facing problems, slowing demand overseas, rising costs at home. smaller factories line the river banks, doing things cheaply has come to -- come at a cost.
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the water is tainted, a disgusting cocktail locals say is too politic to use. >> all along the river, abandoned factories. the polluted water from those places release mouse. >> china's next generation are about to take power here. they face two problems. how to keep the economy growing and also tackle rising discontent and the damage that has been done to the environment. a few weeks ago, a right police battled crowds. -- riot police battled crowds. there were furious about plans for a cooper factory -- copper factory.
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the billion-pound project would have brought many jobs, but it was not wanted. >> of course, health is more important than jobs. it matters for our children. if we are sick, how can we keep supporting them? >> china's next leaders are inheriting a toxic legacy. they have plans for cleaner gross, but that will be slow and expensive. -- clean air growth, but that wille bslow and expensive. the waste stains the ground yellow. chinese call these places cancer villages. there are dozens of them were cancer rates have soared for reasons not cleared. his mother is 47. three vix ago, doctors told him she had liver cancer. he is convinced the factories are to blame. his family is paying the price for unrestrained growth.
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>> it is really depressing living here. every day the factories -- we know they cause cancer. no one takes responsibility for the sick or the dead. >> he hasn't told his mother she has cancer. knowing would be too much for her to take, he said. he has no faith china's government will undo the damage done by years of dirty growth. >> the price of china's dramatic economic growth. a dramatic day for one of the biggest companies. trading in google stock was suspended in new york after its third quarter earnings were mistakenly released early. the profits have fallen compared to this time last year. how did it results get out in the first place and why has google struggle to convert the millions of internet clicks into cash? i am joined by a senior writer
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at the "fortune." >> larry page may be asking that same question today. we are not really sure but it seems that it was that simple. someone hit a b button they shod not have. >> looked at the reaction from the stock market. that was pretty dramatic. >> we all watched with gasps. when you think about the reaction immediately, people freaked out. they were scared. there were two things that play, that there was the on predicted, the release of the earnings. there was the fact that the earnings, they did not match what analysts expected. >> what exactly was behind google's weak earnings figures? >> you characterize them as
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weak. i think we should just remember that google's core business is looking really great, it is up 23% there were two things that concerned investors. the motorola -- we saw them integrate motorola and we saw motorola losses for more than a billion dollars. you also saw that investors were really worried about the cost per clack. it was off 15%. when they heard the earnings call, about half an hour ago, the cfo explained that it was because of currency fluctuations. look, i will not kid you. i would question whether there really that bad. when you let dad do go, we should be evaluating it according to it -- when we
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evaluated, we should be evaluating it towards its topline business. >> aren't investors worried that google can not make as much money from internet as everyone has been helping? >> we are worried about it. we have seen across the board that all the internet companies have been telling us they're concerned that everyone is moving to a mobile platforms, but nobody can figure out advertising on mobile platforms. companies like google, facebook, have been telling us, and we may be suffering some weakness in our business in the short term. i want to draw our attention to the fact that ultimately, it is mobile platforms, these mobile platforms are going to be good for these businesses. they will expand opportunity in the long term. that is what we heard google's management team bring our
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attention to this afternoon. >> thank you. you are watching "bbc world news america." and 80-year-old magazine is set to get a facelift. when is it is scrapping its print publication. -- why newsweek is scrapping its print publication. the guerrilla war has lasted -- has costed hundreds of thousands of lives. colombia farc rebels are beginning landmark peace negotiations. >> a peaceful setting to the start the process that might put an end to a 48-year-old conflict. here were representatives of the colombian government and leftist guerrillas. >> we come to this table with proposals and projects to achieve real peace. a peace that would include a demilitarization of the state
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and radicals socio-economic reforms based on true democracy, justice, and freedom. >> the talks will be held in the cuban capital. what they seem to agree, this is the best chance for peace. >> we are aware of -- we have a good dose of optimism, but a cautious optimism. we know there are real opportunities and we're ready to do our best. >> the farc were born in 1964. in columbia, many considered them a terrorist movement. -- colombia, and many were considered -- many considered them a terrorist movement. >> we hope the new round of peace talks will be successful and fruitful. there are some reprocesses, war,
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a social problems. colombia is now exhausted. >> having peace will be one of the main challenges of the process. colombia wants to believe it will be possible. >> it is a sign of how much more we are getting their news online. newsweek has announced it is scrapping its print publication after 80 years. the weekly magazine is not closing, it is moving to an all- digital format. our new york business correspondent has more. >> in 1933, newsweek hit the newsstands. a weekly magazine covering global events. much like the world it is reported on over the last 80 years, a lot has changed in the
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publishing world, too. not least, how consumers get their news. the number of music subscribers has slumped. -- the number of subscribers has slumped. couple that with falling advertising revenue and it has led "newsweek" to embrace all mind entirely. the final print edition will go on sale at the end of december. in new york comic it will be replaced by a digital-only version. it is a way of cashing in on the 70 million users and tablet computers in the united states. that is a number that has jumped from the 30 million in the past two years alone. there are also more competitors. almost anyone can set up online.
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>> there is a lot of content online. companies well-established, you have websites like politico, or the daily beast. they have been around for years, well-established. it is incredibly competitive, it is gone to be very difficult for "newsweek" to get some traction. >> they have an internet presence already. the site has more than 15 million visitors a month. that is up 70% on last year. >> the editorial product is not compelling, they will disappear into the ether. i suspect that after 80 years with really good talent, with a great franchise, they will survive. >> job losses are likely.
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in a rapidly shrinking market, at that will worry competitors, too. print media is struggling to stay relevant. the debate over how to make the internet pay amid so much free competition they designed. competitors will be watching the digital transmission very closely. >> for more on today's announcement and what it says about the state of the industry, i spoke a brief time ago with new york times media reporter. tina brown is the editor and chief of "newsweek." >> she says it is a transition. she says she will focus on moving the entire product to digital and that she is hoping she will be able to bring everyone into digital subscriptions. >> what does it tell us about the future of print journalism? >> that is a very good question.
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can make money? they will make their money now through digital subscriptions, digital advertising. as we know, digital subscriptions make a fraction of what they make for print newspapers. it is a tough road ahead. think about new -- newsweek years ago, it was an iconic magazine. >> why is this happening? >> we have ad revenues that are declining, people consuming their unused digitally. they're not reading a magazine like they did before. it is somethinthat is affecting the broader industry as well. >> other weekly print magazines are thriving. was newsweek just not good enough anymore? >> i would not say they are thriving. you have to look at the background of "time.
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" it has so many other magazines to support it. ms. they did not have the backing of a time -- newsweek did not have the backing of a time warner. >> what you think the lesson is for the rest of the print industry? >> they have to be prepared that all lot of consumption of media is going digital. if it can happen to "newsweek," it can happen to anybody. >> the women look at our news on our smart phones, there is not a of -- the way we look at our news on smart phones, there is not a lot of room for adverts. >> there are people out there looking at ways for making that more profitable. >> to predict a little bit of a struggle ahead? >> absolutely. >> do you think the publications can ultimately make enough money on mine? >> it is really unclear because digital is a fraction of what is
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4%. i know the digital model has been good for the times and has been a great source of revenue. it is going to play out depending on what the publication is. newsweek had a tough road with the kind of transition to digital and did not have the support of the time warner. >> thank you very much for joining us. people around the world stopped with they were doing today to participate in the biggest ever earthquake drill. 40 million people estimated to have taken part. our correspondent was at one such a drought in los angeles. >> you are joining millions of californians. >> the mayor of los angeles
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hiding under a table. an earthquake drill without the shaking. at 10:18, schools and government offices joined the great shakeout. millions of people across america went through the motions of what would happen if an earthquake struck. >> we know the earthquake is inevitable. we can estimate what the damages are going to be. if people take responsibility for their personal safety, we could change the outcome. >> the city of san francisco was struck by an earthquake of frightening proportions. >> one of the most catastrophic earthquakes was in 1906 when thousands of people died in san francisco. today is the anniversary of the 1989 quake which brought down freeways. earthquakes are part of life here, but the scientists keyboarding the big one -- keep
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warning that the big one is long overdue. >> it is all about raising awareness. that was a simulation. it was very intense. it could be up to two minutes and that would cause a lot of damage. that is what people are taught to do. but a lot and a ball and protect yourself and wait for it to finish the to bundle up in a ball and protect yourself and wait for it to finish. it reminds people of the big one will come along one day and they should be ready. >> the importance of being trained to take cover. that brings today's program to close. you confine constant updates on our website. you can reach most of the team,
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go to twitter. thank you for watching. >> make sense of international news at >> funding for this presentation was made possible by the freeman foundation of new york, stowe, vermont, and honolulu, newman's own foundation, and union bank. >> at union bank, our relationship managers use their expertise in global finance to guide you through the business strategies and opportunities of international commerce.
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we put our extended global network to work for a wide range of companies, from small businesses to major corporations. what can we do for you? >> "bbc world news" en wceprd t,te k lpresented by kcet, los angele. how his emotionssuld er" nobody crosses me >> so many have said so, yet here i am.
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