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tv   Asia Business Report  BBC News  February 2, 2024 2:30am-2:46am GMT

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the revenue rose 25% to just over $40 billion. the company announced its first ever dividend assent at 50 cents per share. this comes days before meta, which was one of the first tech unicorns, celebrated the 20 anniversary of facebook. it all started like this, facebook, or �*the facebook�* as it was known, launched from mark zuckerberg's digs at harvard. more features have been added and the design slowly tweaked into what it is today. but the impact of the app was almost instant. and in the last 20 years, it's altered society, politics and business, in profound ways. here are four ways that facebook has changed our world. facebook was a social media game changer, other social networks existed like myspace,
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but mark zuckerberg's took off. it's less popular than it used to be with young people, but it says it's still growing. it's the biggest in the world with 2 billion daily users, the most being in india and the us. facebook made the internet political. it was instrumental in movements and has become a key place for campaigning and debating elections around the world, for good and bad. in 2018 facebook agreed with the un report that it said it failed to prevent its platform from being used to incite offline violence. they made personal data global and less personal. they proved collecting our likes and dislikes is extremely lucrative. facebook�*s company meta takes the lion share of global digital ad money alongside google. but it also proven what can go wrong with all that data collection. facebook has been fined hundreds of millions
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of dollars, multiple times, for mishandling data. most famously in the cambridge analytical scandal. the kickstart of the dominance of meta. mark zuckerberg built on an empire and bought companies like whatsapp, instagram, and helped them grow. they said more than 3 billion people use at least one of their products, every day. this dominance has arguably not come from innovation, ratherfrom buying rivals or copying their ideas. the disappearing stories feature copied snapchat, instagram reels is the company's answer to tiktok and threads was an attempt to replace twitter. and now with the company pushing heavily into ai and the metaverse, who knows what the future holds? apple shares are down more than 3% in after—hours trading, the tech giant saw profit surpassed analyst expectations but a poor showing in china
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overshadowed its results. here is our business correspondent. for apple a big highlight, the first revenue growth ina year. the tech giant reported a 2% rise in overall fiscal first quartersales, breaking a year of declining sales. it's thanks to sales of the iphone 15, which hit stores in september. but a low—light, a decline in sales in china to the tune of 13%. apple is missing out on one of its key markets. the world's second—largest economy is grappling with a slowdown thanks to a property market crisis, slow growth and high unemployment among young people. that slowdown is weighing on iphone sales and increasingly chinese consumers are opting for phones made by huawei, which are powered by chips made in china. apple is on the verge of launching its vision pro headset, apple's entry into spacial computing, running apps over the real—world information you are already taking in. fans call it augmented reality. but will they drop
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$3500 on a headset? the other wearable products like their airpod headphones and apple watch show weak demand, rises for the quarter but declined year over year. the headset is the big bid to make a splash in a category that is not its signature smartphone. it hit shelves on friday. amazon has been fourth—quarter earnings expectations with strong growth in its cloud business and online spending during the holiday season. they reported a 14% jump in revenue which saw it shows rallying in after—hours trading. earlier on thursday the firm announced a new artificial intelligence assistance for shopping and rivers. it's designed to help users social price. —— assistant named rufus.
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to india, where the finance minister has unveiled the government's spending plan for the year. was an interim budget, focusing on infrastructure and long—term reforms. at of elections slated to take place in a few months time. my colleague has the highlights. spending big on infrastructure project has been key to the government's economic policies and we saw an example of that once again in the finance minister's speech when it was promised an expenditure to the tune of $130 billion on infrastructure which was a hike of about ii%. the indian government hopes that by way of these ticket infrastructure projects they can generate more employment and keep india on the part of economic progress as has been promised by this government. they also announced affordable housing to the tune of 20 million built over the 30 million been made by the government. we didn't see any major spending on social welfare schemes. apart from the fact that the government announced free electricity by the way of solar panel roof tops to about 10 million homes. the government has also talked
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about its fiscal deficit problem, they said by way of a higher tax collection they reduced the fiscal deficit by less than half a percent to 5.1%. there's also been concerns cited that not enough spending has been announced on key areas like health as well as education which remains a concern to some economist. elections are just in a few months time and this was an interim budget and the prime minister government will be hoping to be re—elected for a record third term based on the economic policies so far. hoping to have connected with the voter. hoping to have connected with the voter-— the voter. germany's largest lender says _ the voter. germany's largest lender says it _ the voter. germany's largest lender says it is _ the voter. germany's largest lender says it is planning - the voter. germany's largest lender says it is planning to l lender says it is planning to cut 3500 jobs worldwide by the end of next year. it is the last lender to trim its workforce after the group of goldman sachs. many institutions sort of fall in dealmaking bodies after interest rates rose, the bank has 90,000 staff around the world. the boss of the
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country's most valuable company has told the bbc the rise of the far right is a threat to the far right is a threat to the economy. while it has so far avoided a technical recession there are growing fears that it is only a matter of time. the biggest economy feels the full effect of a variety of problems including falling consumer spending and exports. as well as a shortage of skilled workers. my colleague asked question about the expectations for the year ahead. i the expectations for the year ahead. ., �* , ., ahead. i don't believe that we suddenly see _ ahead. i don't believe that we suddenly see high _ ahead. i don't believe that we suddenly see high growth - ahead. i don't believe that we suddenly see high growth in l suddenly see high growth in germany. but i remember optimistic because what i've seen with sap, look at us, we started our transformation three years ago. we shifted everything we had to the cloud. now we have much more resilient business model, customers are pressing our technology to innovate and the same is now happening with the german economy. even they are using the technology to transform their business models. the
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german economy was also last year pretty resilient when we talked about the energy crisis. a lot of people said we go right away into a recession and in the end the german economy was more resilient as expected. i remain competent for this year and even more so for the years to come. year and even more so for the years to come-— year and even more so for the years to come. and we know you are amongst _ years to come. and we know you are amongst a — years to come. and we know you are amongst a growing _ years to come. and we know you are amongst a growing number. years to come. and we know you l are amongst a growing number of german business leaders that have broken their silence on politics and warned about the threat of right wing extremism and the size of recent protest certainly show how much public support that is for that position but what are your concerns about the rise of the far right that could threaten germany's economy? 5m? far right that could threaten germany's economy? sap is doing business in — germany's economy? sap is doing business in over _ germany's economy? sap is doing business in over 180 _ germany's economy? sap is doing business in over 180 countries - business in over 180 countries in the world. we are a truly global company and will live from diversity of our customers stop —— when we are walking around the campus you see a lot of people from the uk, but also from asia, the united states
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and we need that. we need these people to come to germany. we are completely against any kind of extremism because we need to have those talents coming to us to innovate and boost the economy and that is why it was time indeed to speak up a not only for myself but for the german economy on its own. there is something that may not be available on tiktok for much longer. music playing taylor swift's music, notjust her. access to universal music group's growing loss of artist and on wednesday after months of negotiations collapsed. the social media platform has now begun using short videos featuring the levels artist. which include acts like the weekend and olivia roderigo. universal said the wasn't expired because of social media companies unwillingness
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to appropriately compensate artists. that is it on as your business report, had a great weekend. bbc news, bringing you different stories from across the uk. music playing. it's a trip down memory lane. the vintage fair not only attract the local community but hundreds from across the country. but the growing health and safety regulations to comply with means buying tea organisers simply don't have the funds to go ahead with the event this year. the the funds to go ahead with the event this year.— event this year. the increased legislation _ event this year. the increased legislation we _ event this year. the increased legislation we got _ event this year. the increased legislation we got to - event this year. the increased legislation we got to meet - event this year. the increased i legislation we got to meet some of which were aware of and some were not common icons with additional cost which we have
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to raise and a lot of it has come to life following the issues following the recent christmas target that the council held and cancelled their event for this year. the town council— their event for this year. the town council said _ their event for this year. the town council said they took the decision to cancel the market because traffic management, medical, electricaland because traffic management, medical, electrical and ante terrorism teams are needed, all of which costs money. the 1940s festival has also been cancelled this year, organisers say operating fees have become too high. meanwhile back in how did the vintage fair will be backin did the vintage fair will be back in 2025 but the community are gutted to miss out this year. are gutted to miss out this ear. ., ., , ., , ., year. for more stories from across the _ year. for more stories from across the uk, _ year. for more stories from across the uk, head - year. for more stories from across the uk, head to - year. for more stories from across the uk, head to the | year. for more stories from - across the uk, head to the bbc news website. this is the catch up. lewis hamilton makes a shock move, margot robbie speaks out about barbie, and a carnivalfor dogs. first, meet the student campaigning for it to be easier
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for people to get publicly funded wheelchair and more choice about the type they get. bethany was forced to use student loans to buy her own after she was told she didn't meet the criteria for an nhs one. she faced a choice between that or being stuck in her student house, but she is now making a positive change. a wheelchair is notjust a piece of equipment or an aid, it's an extension of our body. a wheelchair enables us to be independent and access our lives and without the right wheelchair you cannot have a quality—of—life, really. some other stories now, formula 1, lewis hamilton will make a shock move from mercedes to ferrari for the 2025 season. he signed a two—year deal with mercedes last summer, the seven time world champion said leaving the team was one of the hardest decisions he's ever had to make. and margot robbie has now spoken about not getting an oscar nomination for best actress for playing barbie. the film got eight nominations including best picture
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and best supporting actor for ryan gosling as ken, but nothing for her. she said there's no way to feel sad when you know yo're this blessed, so it's all good in the world of margot robbie. and time now to leave you with ten seconds of dogs at a carnival in rio. this is a complete slate, skirts, sunglasses, the whole lot, having a lovely time wagging the tells. also can we appreciate that bright pink bowl? i am obsessed. you are all caught up now, see you later.
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hello and welcome to sportsday. coming up on the programme: sending shock waves around formula 1, lewis hamilton stuns the sport, the seven—time champion switching to ferrari after next season. i think we've got a great formula i season coming up. we certainly look like have an exciting one in 2025. late, late drama for manchester united, marcus rashford returns with a goal as they beat
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the wolves but onlyjust. uncapped 20—year—old spinner, shoaib bashir help england stay in charge of their class, we will look ahead at the second test. welcome along, thank you forjoining us. we start with what we call the biggest driver transfer in the history of formula i. the plot twist that few saw coming — lewis hamilton will leave mercedes at the end of next season and join rivals ferrari from 2025. he started out in f1 with mclaren back in 2007, winning the first of his titles a year later, in what was a gamble at the time, he made a big move to mercedes in 2013,

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