Catch up with all the Business News in the World Business report. The biggest recall in automotive history leads to the bankrupcty courts. Japans takata has had to recall more than 100m airbags across the world. Yet another italian rescue job. Two more banks get Government Bailouts the third time thats happened in a year. Is it isita is it a sign of more trouble for the eurozone . Welcome to World Business report. Im susannah streeter. The Japanese Company behind the biggest recall in Car Making History has filed for bankruptcy. Takatas airbags were first found to be faulty in 200a. Theyve were used by 13 of the worlds biggest carmakers who have all agreed to proceedings which have seen takata file for bankruptcy with courts in both tokyo and the us city of delaware. Worldwide, more than 100 million takata airbags which can rupture with deadly force and spray shrapnel at passengers have been recalled. The faulty airbags have been linked to at least 17 deaths and more than 100 injuries
Oldest bank italys Monte Dei Paschi requests a state bailout, after plans to save itself come to nothing. Plus it is a 660 billion relationship, but could trumps tough talk spell a costly trade war between the us and china . Welcome to World Business report. If you are tuning in for the first time, stay where you are. I know it is early in britain. We have nine minutes and here is a fascinating snapshot of all the latest in the world of business and money. Who put that on the autocue . We are going to start in italy. We have been following this for weeks now. The deepening banking crisis, because in the last few hours, one of the countrys biggest banks says it will request a government bailout. We are talking about Monte Dei Paschi di siena. Its boss has been flying around the world, desperately trying to raise money from investors to keep it afloat. But late on thursday the bank admitted it had failed. Itjust couldnt find enough takers. After a late night meeting, the italian cabinet
In response to pleading governors and mayors, the House stimulus bill contains a staggering $200 billion bailout for state and local governments that have spent themselves into deficit. It is aterrible proposal, on several counts.
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