this is the business briefing. i'm sally bundock. shock treatment! tesla stuns wall street by returning to profit when analysts expected a loss. now all eyes are on its new shanghai factory. 50% inflation and an economy in recession — we examine argentina's economy ahead of sunday's election. and on the financial markets, they've been given a boost by the strong earnings coming through from some of the world's biggest companies. microsoft among them, helping the tech stocks.

elon musk‘s tesla has stunned wall street with its third quarter results. shares of the electric car maker gained over 20% in after—hours trade after it revealed a profit of $143 million. analysts had expected a loss for the third quarter. and margins were higher as well. the only fly in the ointment was a small drop in revenues. it looks like the electric revolution is finally here. last year the number of electric vehicles on the world's roads leapt to more than 5 million — and that's up by 2 million on the year before. china is the biggest market in the world.

last year, more than 1 million people there bought electric. it's no accident then, that tesla has invested $2 billion in a mammoth new factory there. manufacturers like tesla have been working hard to deal with so—called ‘range anxiety‘ — where electric vehicle drivers worry about how far they can travel on a single charge, as for some it can be hard to find a convenient charging point. chris jones is chief analyst for canalys and joins me now. nice to see you, chris. hello. give us nice to see you, chris. hello. give us your talk on tesla. it was a surprise and result last night, even tesla had warned this could be a small loss and production was down on their target of 100,000 units for the quarter. so it was a surprise, a pleasa nt the quarter. so it was a surprise, a pleasant surprise and the market and shareholders love the result and there was also some good news about what is coming next year with the model y. looking what is coming next year with the

modely. looking at what is coming next year with the model y. looking at some of the reasons why they've managed to turn a profit, they have cut costs quite significantly, you mention the margins are higher, which is good news. revenues dipping, looking forward , news. revenues dipping, looking forward, could this bejust news. revenues dipping, looking forward, could this be just a 1—off quarter where they made profit or what do you think? is this sustainable? it's hard to predict tesla. it had cost inefficiencies in california in its production plant which hopefully they've put behind them now and can move forward on a better cost position than before. and ramping up in shanghai is super important to increase the production capacity globally for tesla because in order to bring the next generation of cars to market as well. and with that factory in shanghai, $2 billion investment, i'm sure elon musk is likely to get a large share in mainland china which of course is huge. but when it comes to moving the cars made in shanghai

to moving the cars made in shanghai to other parts of the world, i wonder how that will play out with this current trade war between the us and china? that will be an issue. it's issue for lots of countries done by companies that manufacture in china. committees will have to decide what to build, where to build it and how. they need to find the right mix of products to broaden their portfolio, what to build, and where to build. in the meantime, eve ryo ne where to build. in the meantime, everyone is catching up. the carmakers globally are making electric vehicles, they have some coming to market next year and beyond. how will that impact on tesla in the future? i think that's good news. tesla has shaken the car industry over the last few years, but welcome the competition. more competition, more cars on the road means a better charging network was that it means awareness and word—of—mouth will spread as people enjoy using electric vehicles. next year, honda, mini, vw, vauxhall, will launch more evs with more

comfort and a decent range. the charging network in europe is also improving on a day—to—day basis now. chris, really interesting, thank you for coming in so early. chris from ca nalys. for coming in so early. chris from canalys. share your for coming in so early. chris from ca nalys. share your thoughts for coming in so early. chris from canalys. share your thoughts on twitter. australia's qantas airways has posted a 1.8% rise in first—quarter revenue, but flagged future profit impacts from weaker global trade conditions and political disturbance. let's go to our asia business hub where rico hizon is following the story. sally! nice to see you, rico. tell us sally! nice to see you, rico. tell us about how they are doing? with the numbers released today, asian a nalysts a re the numbers released today, asian analysts are saying fasten your seatbelts, qantas is getting some turbulence. despite australia's flag carrier sting record quarterly numbers, no revenue from domestic routes, and particularly from its

budget carrierjetstar sanchez 2a we close. blaming revenues and does make sense as to a four week close. it was also affected by protests in hong kong. revenue in the division decreased by more than 4%. as the chief executive alan joyce, decreased by more than 4%. as the chief executive alanjoyce, the highest—paid boss in australia, he remained upbeat saying the airline was well—positioned to respond to the ongoing market conditions. but when you speak to analysts, there say mergers of qantas and rivals such as virgin australia, could be continued to be squeezed by higher fuel costs, weakness in consumer spending and weakness in the australian economy. sally. thank you very much. good to see you, rico. one of the world's top 20 economies

— and one of the most tumultuous in the past decade — is bracing itself for defining elections. on sunday, argentinians will chose between pro—business candidate and current president mauricio macri or his rival, the populist alberto fernandez. the economy is in recession and inflation is at over 50% — it's the third highest in the world behind venezuela and zimbabwe. from buenos aires, our south america business correspondent daniel gallas reports. this factory in the greater when errors area has shut down last month, but workers are not going away, over 150 of them have occupied the factory —— alberto fernandez was eat and sleep in the facilities where they want to paper. another spend the days went to find a way to

secure their future through negotiations and protest. workers say they will not leave this factory and sell all of their demands are met, which is basically, to give all jobs here, they have no idea how long that may take, but they do know that if they fail in their protests, it will be very hard for them to find newjobs it will be very hard for them to find new jobs out it will be very hard for them to find newjobs out there. alberto fernandez is worried about his bills and his future, hejoined the paper mill 15 years ago when there were plenty ofjobs, mill 15 years ago when there were plenty of jobs, but mill 15 years ago when there were plenty ofjobs, but not now. translation: most salaries in argentina today don't even cover the basic cost of living. but this situation is becoming impossible for families. both presidential candidates say they can get argentina growing again, president mauricio macri believes all argentina has to do is carry on with spending cuts and structural reforms and growth will eventually come

back. translation: today we are on better footing to grow because we solved national problems. today we are standing on solid ground. that is why i say to you, the era of growth is coming, of betterjobs, better salaries and relief for all argentinians. but voters are leaning towards the opposition candidate, alberto fernandez, who is promising more state involvement in the economy. is based on a argentina today has the highest into straight in13 today has the highest into straight in 13 years today has the highest into straight in13 years —— translation:, in13 years —— translation: , and he in13 years —— translation:, and he thinks labour isa translation:, and he thinks labour is a cost. he allowed unemployment to run free because he thought unemployed workers would become entrepreneurs. for people like sergio, that isn't really an option. the only plan he and his fellow workers have now is to continue fighting for theirjobs workers have now is to continue fighting for their jobs and workers have now is to continue fighting for theirjobs and hoping for a better future after the elections. daniel gallas, bbc news, buenos aires.

so, companies up with their earnings out our moving markets. microsoft has said its azure cloud services grew more slowly in the three months to august even as profit and revenue beat estimates. since chief executive satya nadella took over in 2014, the software giant has been moving away from its windows operating system to focus on cloud services. in south korea, economic growth slowed in the third quarter, expanding by a less—than—expected 0.4%. it comes as asia's fourth—largest economy is caught between the us—china trade war and its own dispute with japan. and wework leaders have warned staff to expect majorjob cuts after a shake—up at the struggling office space company and the exit of co—founder adam neumann. its chief operating officer said it must now "right—size" the business to stem losses. that's after its biggest backer, softbank, agreed to invest billions of dollars after a plan to sell shares on the stock market collapsed.

that's it for the business briefing this hour. the metropolitan police is working with facebook to try and stop terrorists livestreaming their attacks on social media. the force has started recording their counter—terrorism training exercises with body cameras provided by the company so it can further develop its artificial intelligence software. it's hoped the information will enable facebook to identify those kinds of videos more quickly. sarah corker has this report. firearms officers simulate a terrorist attack. the scenario — multiple gunmen on the loose in a

disused building. the metropolitan police regularly practice their counterterrorism response, and the body cameras recording these images have been supplied by facebook. subject down, red jumper. have been supplied by facebook. subject down, redjumper. hundreds of people working facebook‘s safety and security team, and it's based here in london. 0ver and security team, and it's based here in london. over the past two yea rs, here in london. over the past two years, 26 million posts from global terror groups have been removed, and facebook uses artificial intelligence to spot extreme content. this is how the technology works. identifying people and objects. but the company was criticised for failing to prevent videos of the new zealand some two shootings from being widely shared. the christchurch attack went more viral than any one piece of terrace content i've ever seen, and i analyse terrorist contact every day. but we also realised was because it

started on facebook live, then perhaps our tooling was not as good as it could be about proactively detecting what might be first person shooter content. social media platforms are under increasing pressure to stem the flow of violence and hate online. the home 0ffice now plans to share this footage with other technology companies. sarah corker, bbc news. this is the briefing from bbc news. the latest headlines: british police launched a murder investigation after they find 39 bodies in the back of a lorry that came overfrom bodies in the back of a lorry that came over from europe stop and republican members of congress have disrupted the trump impeachment enquiry, barging into a hearing room moments before a senior pentagon specialist was due to testify. so, if we have a look at stories dominating the media today, in the

uk there is one story all over the front pages. this is from the mirror. the headline is of the tomb of steel. we will talk about that in a moment. the financial times picks up a moment. the financial times picks up on brexit, saying the part the prime minister may now take is unclearamid prime minister may now take is unclear amid splits and government over whether to chase brexit or call for a general election. axios with another story covered by us and elsewhere, facebook was mark zuckerberg in front of congress for the first time since last year, talking about the company's plans for a cryptocurrency called libra, one of many topics he was build on. you may know that facebook owns instagram, which has now banned cosmetic surgery filters. this article on bbc news explains it is because research shows that builders make people feel bad about their

looks. and then finally, don't get co mforta ble looks. and then finally, don't get comfortable in the doctor's waiting room or surgery, the telegraph reports on a new pilot scheme where you will see the gp while you are standing up. apparently, if they ask you to sit down is because there is some bad news coming. right. with me is eileen burbidge, a partner at passion capital —