the crisis at snap — shares in the social media firm are plunging after after—hours trading. we look into what's driving the sell—off. is canada losing its cool? — why fewer permanent residents are applying for canadian citizenship, and some have even begun to leave the country. hello, and welcome to asia business report. we begin with snap — shares in the social media firm are down more than 30% in after—hours trading. the snapchat owner missed wall street estimates for quarterly revenue as it continues to struggle with competition from much larger rivals like meta and alphabet, which grab a much larger share of digital advertising. the disappointing earnings announcement comes after snap announced it would lay off 10% of its staff. the 528 employees

sacked join a much larger group of tech workers across the industry who've lost their jobs since the end of the pandemic. earlier, i spoke to a tech sector expert, who told me snap�*s quarterly results are quite dire. iii snap's quarterly results are quite dire-— quite dire. if you looked up "disaster" _ quite dire. if you looked up "disaster" in _ quite dire. if you looked up "disaster" in the _ quite dire. if you looked up| "disaster" in the dictionary, you'd see snap's earnings. they continue to be in trouble. they're on the outside looking in — another black—eye quarter for snap, especially the advertising team.- for snap, especially the advertising team. the surge in tech lay-offs _ advertising team. the surge in tech lay-offs in _ advertising team. the surge in tech lay-offs in 2024 - advertising team. the surge in tech lay-offs in 2024 would i tech lay—offs in 2024 would suggest there's trouble in the industry, perhaps, but that may not necessarily be the case if we look at other key measures? i think it's a tale of two cities. the strong are getting stronger — the ai revolution�*s here. you're seeing more spending in areas like that. but then you see non—strategic areas get cut across. most of the job cuts are areas get cut across. most of thejob cuts are in areas get cut across. most of the job cuts are in the rear—review mirror, i think, but it shows we're in a fork—in—the—road period in tech where the strong are getting

stronger. where the strong are getting stronuer. ., ., , ~ , stronger. how does ai play if to that fork _ stronger. how does ai play if to that fork in _ stronger. how does ai play if to that fork in the _ stronger. how does ai play if to that fork in the road? - stronger. how does ai play if to that fork in the road? ai i stronger. how does ai play ifi to that fork in the road? ai is the biggest _ to that fork in the road? ai is the biggest tech _ to that fork in the road? jill 3 the biggest tech transformation we've seen since 1995 — the internet. i think that's really going to feel — a trillion dollars of spend. companies on the right side of that will benefit and drink champagne. ones on the wrong side of it are going to have to cut a lot of costs and there could be a lot more pain ahead. that's what you're starting to see play out in this earnings season. play out in this earnings season-— play out in this earnings season. ., ., , , ., season. what does being on the riaht season. what does being on the ri . ht side season. what does being on the riqht side of— season. what does being on the right side of it _ season. what does being on the right side of it mean, then, - right side of it mean, then, for workers in the tech space? they'll have to readjust their thinking of whatjobs they do or skill sets they have? i think it's really more the companies, especially in software chips — names like microsoft and nvidia are the tip of the iceberg in terms of some of the companies that are leading. i think it's really being positioned at some of these thought leaders. but it sometimes will be about enhancing the skill set. it's going to change the workforce.

but in the near—term, it actually adds jobs, but in the near—term, it actually addsjobs, not actually adds jobs, not subtract. actually adds “obs, not subtract._ actually adds “obs, not subtract. . �*, ., subtract. what's your outlook for the tech _ subtract. what's your outlook for the tech sector _ subtract. what's your outlook for the tech sector for - subtract. what's your outlook for the tech sector for the - for the tech sector for the year ahead? we're into february now. ~ , . now. we believe the new tech boom market's _ now. we believe the new tech boom market's alive - now. we believe the new tech boom market's alive and - now. we believe the new tech| boom market's alive and well. we think tech stocks are up another 20% for the year. end of the year, nasdaq, 20,000. i think the party'sjust think the party's just starting, in our think the party'sjust starting, in our opinion, think the party'sjust starting, in ouropinion, in this soft—landing backdrop. spotify has also announced fourth—quarter results after the bell. the popular music streaming service reported fourth—quarter monthly active users and subscribers ahead of expectations as it grew in all regions. spotify is among the growing number of tech companies who've laid off workers to boost profitability. it's also raised prices for its subscribers. another tech company announcing lay—offs today is amazon. the tech giant is cutting hundreds ofjobs tech giant is cutting hundreds of jobs across two of tech giant is cutting hundreds ofjobs across two of its health care units. one medical, and amazon pharmacy. the news comes as the tech giant continues to identify areas in the business where resources need to be redirected. earlier

this month, amazon laid off employees across its prime video, mgm studios, buy with prime, twitch, and audible units. the tech industry is at the forefront of the deep changes brought about by the widespread adoption of artificial intelligence. two companies are leading such industry—wide transformation right now — and nvidia. the pair are right now — and nvidia. the pairare teaming up right now — and nvidia. the pair are teaming up —— cisco and nvidia. the pairare teaming up to offer ai infrastructure and ethernet solutions. we caught up with the executive vice—president and general manager of the cisco networking team, johnathan davidson, and asked him how important the tie—up is. him how important the tie-up is. ., , him how important the tie-up is. nvidia is synonymous with al, as is. nvidia is synonymous with al. as cisco — is. nvidia is synonymous with al, as cisco is _ is. nvidia is synonymous with al, as cisco is to _ is. nvidia is synonymous with al, as cisco is to networking. | ai, as cisco is to networking. you need to make sure you've got both of these things. there really is no ai without networking infrastructure. so it's really important that we come with the best technology in the world when it comes to ethernet and connectivity, and

then adding in the best ai technology from a gpu perspective, and bringing those together. and then simplifying it so that any enterprise is able to take advantage of that technology stack. we see that as being a really important piece notjust of the technology itself, but how you simplify it. we have these things called cisco valid vines, where we make sure it's really simple — think of it as a blueprint for how every enterprise can go and dole this infrastructure out, or their own use cases.— own use cases. so, your customers _ own use cases. so, your customers - _ own use cases. so, your customers - how- own use cases. so, your customers - how able i own use cases. so, your. customers - how able are own use cases. so, your- customers - how able are they customers — how able are they to take this onboard? you've obviously partnered up with nvidia. how soon will they be able to benefit from this investment on your pod? we've done surveys — investment on your pod? we've done surveys that _ investment on your pod? we've done surveys that showed - investment on your pod? we've done surveys that showed 95%| investment on your pod? we've l done surveys that showed 95% of it infrastructure is going to be increasing due to ai workloads. so we know there's a huge demand. but we also know in that same survey that only 13% are prepared and ready for

— with their current infrastructure — to be able to handle ai workload. there's a lot of need in the workplace today. this partnership gives us the capability to drive it rapidly into enterprises. we see this with all of our customers — they've been asking for us for something like this for us for something like this for over a year now. so we're excited to actually bring this to market and share with our customers this week. in other news, disney's espn, fox can, and warner bros discovery are teaming up to create a sports streaming service this year. users will have the option to bundle the product with disney+, hulu, and max. the service will have an independent management team. for decades, canada has been a magnet for immigrants. recently, fewer are applying for canadian citizenship, and some have even begun to leave the country. to help understand why the buzz has quietened a

little, this report from punjab in north—west india, which sends thousands of migrants to canada each year. punjab, india's bread basket — land of mustard fields, and also immigrant grains. millions have left these villages over decades. in canada, the punjabis are amongst the largest diaspora. but some are now returning home. this man's family mortgaged land to send him to university in toronto. citizenship was his ultimate goal. but afterjust one year, he's come back and started an embroidery business. translation:— translation: from rent to grassroots. — translation: from rent to grassroots, everything - translation: from rent to i grassroots, everything became —— groceries, everything became more expensive. i had to work 40-50 more expensive. i had to work 40—50 hours every week to survive. the high inflation is making many students leave their studies in canada.

the lure of the canadian dream is fading a little — and that's palpable on this street in the town of vadinga, where every day, thousands of young people come and meet immigration agents and make plans to leave the country. last year, though, the country. last year, though, the number of indian students applying for canadian universities dropped sharply. protests over a lack of affordable housing went viral last year. in response, the trudeau government announced international students must have double the amount of money to cover living expenses when they come to canada. res, they come to canada. temporary two—year cap on new international student permits. in addition, the government has introduced a cap on how many student visas are issued every year to help address the housing shortage. canada sto - ed housing shortage. canada stopped building - housing shortage. canada stopped building housing| housing shortage. canada i stopped building housing in large scale for about 30 years. and now, that's come back to up by the us as the population starts to grow. but by the us as the population

starts to grow.— by the us as the population starts to grow. but there are dee-er starts to grow. but there are deeper reasons _ starts to grow. but there are deeper reasons for - starts to grow. but there are deeper reasons for a - starts to grow. but there are deeper reasons for a waning | deeper reasons for a waning canadian dream. for some, deeper reasons for a waning canadian dream. forsome, like curran, who've achieved career and financial success, it was the allure of a comfortable rural life that inspired his return to india after 15 years. he's now started an online consultancy to help others come back to their roots. i consultancy to help others come back to their roots.— back to their roots. i started this almost _ back to their roots. i started this almost 9.5 _ back to their roots. i started this almost 9.5 months - back to their roots. i started j this almost 9.5 months ago, back to their roots. i started - this almost 9.5 months ago, and i get 2—3 calls every day. most of the calls are from canada — people who want to know what kind ofjob opportunities or what is available in punjab. india is growing, and people can see that. for india is growing, and people can see that.— can see that. for decades, immigrants _ can see that. for decades, immigrants have _ can see that. for decades, immigrants have fuelled i immigrants have fuelled canada's economic growth. india is still one of its largest sources of migrants. while the numbers of those leaving canada are still small, they do paint are still small, they do paint

a more complex picture of the opportunities abroad — and those at home. before we go, i want to bring you a story about something you don't see every day — the boss of singapore's biggest bank is taking a 30% pay cut to account for several digital banking outages in 2023 — that's roughly $3 million out of the ceo's roughly $3 million out of the ceo's annual pay cheque. the members of dbs's management team will also be taking a 21% variable compensation cut. the news comes on the heels of dbs's quarterly result, where the bank beat estimates on net profit. a quick check on the markets: the hang seng in hong kong is “p the hang seng in hong kong is upjust about 0.9%. the hang seng in hong kong is up just about 0.9%. hong the hang seng in hong kong is upjust about 0.9%. hong kong shares trading slightly higher at the opening, building on the previous day's surge of optimism of china that pushed through more support measures. that's it for us here on asia business report. bye for now.

bbc news — bringing you different storframes across the uk. fist different storframes across the uk. �* ' i? different storframes across the uk. ~ ' z: ., �* different storframes across the uk. ':: ., �* .,, uk. at 102, there aren't many firsts left _ uk. at 102, there aren't many firsts left for _ uk. at 102, there aren't many firsts left forjack hemmings. | firsts left forjack hemmings. today, he's about to pilot a spitfire he's long been an admirer of the aircraft. the sitfire admirer of the aircraft. the spitfire and _ admirer of the aircraft. the spitfire and the _ admirer of the aircraft. iie: spitfire and the harriet admirer of the aircraft. tie: spitfire and the harriet have succeeded in overcoming — if they had not, there'd have been an invasion, and britain would have become german. jack an invasion, and britain would have become german.- have become german. jack is still working _ have become german. jack is still working hard _ have become german. jack is still working hard for- have become german. jack is still working hard for the - still working hard for the charity he loves. today's flight is all about raising awareness and vital funding. after plenty of waiting, the weather was right — and it was time to take to the skies. after taking the controls for a time, jack then relaxes as the pilot performs victory rolls. not one...

..not two... ..but three. and when you've waited this long to fly in a spitfire, it'd be rude not to make the most of it. for more stories from across the uk, head to the bbc news website. hello. i'mjack hello. i'm jack with the catch—up. tonight, the king's been out and about. why miss japan was stripped of her title. and breaking boundies around hearing loss. first — the king's been out today for the first time since the palace announced he has cancer. here he is with queen camilla about to travel to sandringham by helicopter. prince harry flew back from california to visit, but apparently he doesn't plan to

meet his brother whilst he's here. and we know that cancer in one way or another affects all of us, so if you're finding the news hard to deal with, you can read info on where to find support by searching for "bbc action line". some other news, then: ukrainian—born miss japan has had to give back her crown after a newspaper exposed her affair with a married man. that title will remain vacant for the rest of the year. tom holland's going to star in a western production of romeo and juliet later this year dash — it's the first time he'll be on stage since starring as billy elliott as a kid. former love islander tasha guri has been chatting to newsbeat about life with a cochlear implant — a small device which can help some people who are deaf or hard of hearing. she's trying to headache break the stigma of how people talk when they take theirs off, by posting hers on tiktok. they mi . ht posting hers on tiktok. they might not — posting hers on tiktok. they might not want _ posting hers on tiktok. they might not want to _ posting hers on tiktok. they might not want to go - posting hers on tiktok. they might not want to go on - posting hers on tiktok. tie: might not want to go on love island and wear a cochlear implant — you can do it.

tonight, i'm going to leave you with ten seconds of wrong direction, as drivers in edinburgh say sat—naves keep sending them down this set of steps. they didn't used to be steps, by the way. it's happened an awful lot, lately. thankfully, the council are popping up bollards soon. which way�*s the way out...? hello, and welcome to sportsday. i'm marc edwards. coming up on the programme: it'sjubilantjordan at the asian cup as they stun south korea to reach their first—ever final. it's misery for murray in marseille, though, as the former world number one suffers another first—round exit.

and — fury�*s forgiven — oleksandr usyk holds no grudges after their heavyweight fight is postponed — but promises to beat him in may. hello, and thanks for joining us on sportsday. we start with a huge shock at the asian cup asjordan continue to rewrite the history books. having never got past the last eight of the competition, they are now into the final for the very first time. and to get there — they knocked out one of the favourites to lift the trophy — beating south korea 2—0. yazan al—naimat put them in front before a superb solo effort from their superstar musa al—taamari — the montpellier winger securing

the momentous win in qatar. tottenham hotspur�*s son heung min did have a goal disallowed