second—quarter revenue, as new ai features helped attract customers to its cloud and windows services. quarterly revenue grew 18% to $62 billion, compared with the average analyst estimate ofjust over $61 billion. now, all that investment into ai from microsoft is putting the heat on its competitors. that's the case for google�*s parent company, alphabet, which reported results that disappointed investors. it came short of expectations for advertising revenue, recording $65.5 billion in the fourth quarter, while analysts on average had estimated just over $66 billion. those results overshadowed the company's efforts in artificial intelligence and the cloud. now, ai is increasingly becoming a central theme in the quarterly results presentations of major tech companies as they compete to place ever bigger bets on the technology. so, is all that investment starting to pay off? i spoke to ubs' tech equity strategist sundeep gantori a little earlier.

if you look at the headline numbers... is suggest that results are mixed. but actually when you look at the actual results and also what companies are telling, there are two factors that matter to us, monetisation and capital expense. they look at monetisation, for example, across the board, we are seeing cloud revenue and contribution is almost like 5% for some of the companies out there. so that gives us comfort. in terms of graphics, clearly companies are spending on it, but in terms of compute, this is one area where they have been quite bullish recently. long story short, despite the future suggesting, we think the bull case for al is still think is intact. we think that any excess correction is a buying opportunity. what is the implication of these big tech companies

pushing more to monetise their investment into ai? what are the implications for us as consumers? i think at the end of the day, we think that given how intensive it is, we believe that it is getting bigger, so we believe that the tech leaders, particularly in the us, will extend their leadership. i think in the last 12 months, the focus has been a bit more on enterprise, as you pointed out. we are seeing a bit of democratic of ai from consumers like us with the launch of copilot, basically with al on smartphones, and pcs, so we are going to see mainstream auction of ai. so when i mentioned earlier ai contribution on a company level, but the rising options and consumers come i think it is only a matter of time that ai will be driving 10

or 15% for a lot of these big tech company revenues. into the rest of the year, what is your outlook for how big tech is going to make use of ai? will be see more job losses as they look to lean on its? i wouldn't call it necessarily job losses, but definitely i think there will be some impact. i think there was a very interesting study recently by the imf also that they will be back eventually. the way i see it is i think and i can definitely also help us in terms of financing our productivity. i can definitely see it helping in myjob. i think we definitely need to rescale. and perhaps it will also create a new category, these did not even exist, but that is a mainstream job these days. another story making headlines... ajudge in delaware has voided the $56 billion pay package of elon musk, calling it an "unfathomable sum" that was unfair to shareholders. the tesla boss did not indicate if he would be appealing the decision, in the case brought on by a shareholder. mr musk appeared to respond to the ruling in a post

on x, saying... shares of the company fell by around four represents in after—hours trading. let's turn our attention now from tech to the aviation sector because boeing is set to face intense scrutiny from investors later today. the aviation giant is due to publish its results for the past year. it comes weeks after a door plug blew off a 737 max 9, forcing it to make an emergency landing. now, boeing and its boss david calhoun face deep questions about the plane maker's future. the bbc�*s north america business correspondent michelle fleury reports. boeing 737 max payne returned to service last friday, this alaska airlines flight leaving seattle for san diego was full weeks after a door panel blew out on another max plane in its fleet mid flight. passenger virginia was on her way to see her family.

thoughts go through your mind, but you have to hope that people learn from their mistakes. boeing's boss acknowledged the company's shortcomings, a message he took to capitol hill last week when he met with senators. we are going to talk about transparency and responsibility and that will be it. thank you very much. for michael, it is not good enough. this is a boeing leadership problem. his daughter was killed when a 737 max 8 crashed in ethiopia a year after a similar crash in indonesia. we sent a letter with 1100 signatures from crash family victims and friends of victims, victims�* families and friends of families to the senate asking them to investigate boeing leadership to reveal how bad they are or not, and investigate the leadership and their ability to drive quality through

the organisation. as boeing prepares to face investors, it's still under pressures from regulators and customers. the faa is limiting how many 737 max planes it can make and one of its biggest customers is rethinking its options. the american carrier is rumoured to be in talks with boeing rival airbus. despite the safety crisis, a lawyer for family members of passenger killed on a max plane in ethiopia says boeing is too big to fail. take a look at its importance to the american defence infrastructure. it is a very big deal. so we, for a lot of reasons, we want boeing to succeed, but at the moment, they are failing all of us miserably. boeing and its best—selling plane may not be in danger of going bust. with the investigation ongoing, it won't be business as usual.

job losses making headlines next. ubs will cut 12,000 jobs around 2% of the global workforce after it was hit by a softer economy and a lever fight that scared away customers. the movies are selected to reduce costs by $1 billion. the chief executive said 2023 with a difficult and disappointing year as the firm are called staff to return to the office five days a week. paypal has also announced job cuts, the cuts will affect 3500 jobs of around 9% of the global workforce. the new ceo says the firm is moving to right size is business. time to widen our focus now a bit and look at the state of the world economy. the international monetary fund has raised its forecast for economic growth this year. it now expects the global economy to grow by 3.1%, up from 2.9%. the imf upgraded its outlook for the world's two largest economies — the us and china — citing "resilience" and the faster—than—expected

easing of inflation. the global economy continues to display remarkable resillience with inflation declining steadily and growth holding up, the chance of a soft landing has increased. the pace of expansion remains slow and risks remain. the fate of the world economy is closely tied to monetary policy in the us and that is why tomorrow a lot of focus will be on the us federal reserve first policy decision of the year. the market is expecting jerome powell to leave interest rates unchanged this month, however, more interest is on the central bank outlook for rate cuts as inflation looks to be tapering off in the world's biggest economy. an economics professor talked me through his expectations.- talked me through his expectations. we are in a lukewarm _ expectations. we are in a lukewarm economic - expectations. we are in a - lukewarm economic environment. we have seen a significant

moderation and of inflation figures. the growth has remained reasonably strong rather than a softening substantially as a result. it is unlikely that the fed will move at this stage because the data does not provide any impetus for them to go ahead and cut rates.— and cut rates. the mandate is to always _ and cut rates. the mandate is to always safeguard _ and cut rates. the mandate is to always safeguard every - to always safeguard every focused on inflation and underemployment. what does that tell us about what the fed is thinking? tell us about what the fed is thinkin: ? , . ., tell us about what the fed is thinking?— tell us about what the fed is thinkinu? , . ., ., thinking? very much a bit of a wait and see _ thinking? very much a bit of a wait and see and _ thinking? very much a bit of a wait and see and a _ thinking? very much a bit of a wait and see and a reactive i wait and see and a reactive approach. a lot of market participants would rather have more definitive signals from the fed but i generally believe this is the best action at the fed can take at the moment because they are so reliant on understanding the extent to which inflation has been tempered down, both at looking at possibly inaudible if it tends to slow down a bit too rapidly.

a quick look at the markets here in asia before we go. take losses on wall street with investors awaiting the foetid decision and that is something we are watching closely. we will bring that to you tomorrow. bye for now. voiceover: bbc news - bringing you different - stories from across the uk. it's a trip down memory lane. howden�*s vintage fair not only attracts the local community, but hundreds from across the country. but the growing health and safety regulations to comply with means volunteer organisers simply don't have the funds to go ahead with the event this year. the increased legislation we've got to meet, some of which we're aware

of, some we weren't. a lot of that comes with additional cost, which we would have to raise. and some of this, a lot of it has come to light following the issues at the recent christmas market, which the town council held and have obviously cancelled their event for this year. the town councillors say they took that decision to cancel the christmas market because traffic management, medical, electrical and anti—terrorism teams are needed, all of which costs money. in woodhall spa, the 1940s festival has also been cancelled this year. organisers say operating fees have become too high. meanwhile, back in howdon, the vintage fair will be back in 2025, but the community are gutted to miss out this year. voiceover: for more stories from across the uk, head - to the bbc news website. i'm stephen with the catch up. you might not remember

what you did 726 days ago, but in northern ireland it was when the government collapsed and it has meant big decisions haven't been made. public workers like teachers and nurses have not got a pay rise. now it looks like stormont, where politicians meet, is going to come back. how did we get here, the democratic unionist party, it is not happy with the trader rules, has been refusing to work with other parties. but last night its members got together at a wedding venue to work things out. the secret meeting wasn't that secret. somebody inside was wearing a wire and the whole thing was live tweeted. five hours later, a deal. the dup says it cuts out all checks going from britain to northern ireland and staying there. we can expect the full details on wednesday. sinn fein said it is a day of great optimism. if you watch the traitors, you

have onlyjust if you watch the traitors, you have only just about if you watch the traitors, you have onlyjust about got over the drama of the final. they are now raising awareness about having a stoma. over 150,000 people in the uk have one and molly told the bbc why it is important to talk about. it can be to boo _ important to talk about. it can be to boo as— important to talk about. it can be to boo as it _ important to talk about. it can be to boo as it is _ important to talk about. it can be to boo as it is to _ important to talk about. it can be to boo as it is to be - be to boo as it is to be important as well that we do advocate for it. we do show people that anyone can have a stoma. you can see someone on the street and have no idea what they are going through. time now for ten seconds of fire. time for the annual festival on the shetland islands to celebrate the viking past. how good is this book? you can watch more on the bbc iplayer. you all got up now. have a great night.

hello and welcome to sportsday. i'm gavin ramjaun. arsenal are up to second, thanks tojesus and saka, who are on the scoresheet for their win at nottingham forest. an upset at afcon. south africa stun the pre—tournament favourites morocco, to make the quarter finals. and tyrell hatton makes the switch to join liv golf — the englishman will link up withjon rahm, on the saudi backed tour this week.

hello, and welcome along to sportsday — with plenty of football to bring you from across the world. we'll start in the premier league, where arsenal moved back up to second in the table and are nowjust two points off the top, after beating nottingham forest. it was a relatively quiet first half at the city ground, arsenal dominating possession and chances — and they made it count after the break. gabrieljesus and then bukayo saka putting them two up and out of sight. a late forest goal provided some fightback, but not to be for them, as the gunners closed out the 2—1win, to keep the pressure on the league leaders, liverpool. it isa it is a really difficult place to come and they have shown that against top teams. i think

we were really dominant, really