not many ceos are big enough to admit them wu michael wu is. we sit down with the boss. >>> european stock markets rather subdued this morning. let's go straight to take a look at them. you should be able to see on this chart right now, we have a number of markets trading in the red. ftse in particular with number of heavy weight stocks currently trading without the rights to dividend or x dif depd and a reason to see a falloff there and we should mention that nokia shares tanking further after reaching a 13-year low yesterday after the company scrapped the full-year sales targets. those shares are currently down by 5% and investors looking at france's latest unemployment data. the jobless rate of the country fell only slightly in the first quarter and above that key 9% level, cac 40 virtually unchanged at the moment. the euro is up against the dollar as concerns start to ease over the situation in greece. there's also some speculation mounting about a possible -- the possibility of a further slowdown in the u.s. economy. we should also mention

and tonight in hong kong michael wu is gambling on an upgrade of his empire while in london it's timeraise her game when it comes to men's wear. >>> previously on "the boss." serving by example. sarah curran becomes a mentor for women wishing to make it big in business. >> i don't think you ever reach a point you think i don't need any more mentoring. >> reporter: and on a visit to london michael wu talks of his doubts, mistakes and regrets. >> there were a lot of misjudgments in the operations, logistics, for example. we completely misjudged that. >> reporter: the introductions have been made and the cameras are at the ready. with a small snip of the scissors, maxim's new and upgraded store mx is officially open. helping to it draw in the crowd is a singer, actress, and the face of maxim's moon cakes. michael wu is targeting the younger market and chen's celebrity endorsement makes his new restaurant more appealing. >> when we choose a celebrity we want that celebrity to have the right for maxim, she cares about the community can, about hong kong. so we think that type of image reson

that's when they began following michael wu for our series, "the boss." there's one chapter ends where another one begins. take a look. >> this year is a big focus to enter china. >> reporter: from the day our can't rahs started rolling back in september of last year, michael wu had a clear business plan in place. >> china is such a big market itself that probably for the next 20, 30 years that would be our only focus. >> reporter: for the following ten months he made this his growth strategy. working with his team from decisions through branding through personnel, he looked for ways to break this major market, aiming not only to enter it, but more importantly to conquer it. >> we see huge potential for our brands all over china, but, of course, it's not as easy as that. >> reporter: as his army prepared the attack, michael turned his attention closer to home, managing and recognizing his staff. as we followed him from his office and into the meeting rooms, we learned what it took to lead a company of 14,000 people. hard work, motivation, and appreciation

now almost a year on since our first visit to maxim's, it's time to say good-bye to michael wu. that's next week on "the boss." >>> this is "world business today," and that is an emperor penguin on a beach in new zealand, thousands of miles from home. find out what he's doing so far from home just ahead. i spend long hours with her checking her heart rate, administering her medication, and just making her comfortable. one night britta told me about a tradition in denmark, "when a person dies," she said, "someone must open the window so the soul can depart." i smiled and squeezed her hand. "not tonight, britta. not tonight." ♪ >>> welcome back. you're watching "world business today." >> multiple tropical storms are aimed at southeast asia this hour. severe weather is eyeing the united states. for that, our meteorologist joins us from the international weather center. good morning. >> good morning, we talked about the flooding issues across china with the monsoon season. a different story taking place right now. i want to show you the live perspective out of victoria harbor. this

and in hong kong, michael wu taps a famous face to help with his brand. >>> from cnn london, welcomeack to "world business today." >>> let's bring you up to date with some of our other top business stories. french finance minister is taking her campaign to head the international monetary fund to china, developing countries have said they don't want to see a european at the top job of the imf. instead, they want to see a non-european take the position. >>> it's been reported that a subsidiary of the swiss commodities form glencore owes zambian government $160 million. the finance minister has not said how much they owe but cites an audit. >>> and nintendo has unveiled the next generation of its wi. game console called the wii u and features a controller that looks more like a tablet feature. nintendo hopes it will reignite growth after a long sales sluch but investors aren't so impressed after the stock dropped 6% in tokyo on wednesday. >>> let's turn to the stock markets and see how they're faring where the trading session is 90 minutes into the day in europe. bit of a downbeat pictu