a make or break week for big tech major players prepared to turn in their financial results following multiplejob turn in their financial results following multiple job cuts. turn in their financial results following multiplejob cuts. a blessing or curse we will take a look at what it looks like to take over long—running family business. hello and welcome to asia business report. i am monica miller. earnings season is back in full swing in the us and this week it would be getting report cards from internet jets getting report cards from internetjets like meta, internet jets like meta, specify. internetjets like meta, specify. we would be hearing

from consumer companies like microsoft, samsung and intel. the technology sector has enjoyed rapid growth during the pandemic but they now face inflation fears and are operating in a higher interest rate environment. there been higher cost—saving measures going to place, for example meta announced it will cut 10,000 morejobs this month that's on top of 11,000 jobs that's on top of 11,000 jobs that go last november. the deputy chief investor at richard bernstein investors is not optimistic about the stocks in the us. i not optimistic about the stocks in the us. ., �* , ., , in the us. i don't see any reason — in the us. i don't see any reason to _ in the us. i don't see any reason to suspect - in the us. i don't see any i reason to suspect anything different from what we have seen. both from these companies over the past few quarters but also from the companies we have heard from this earnings season. what's clear is that growth is slowing and that is hurting these companies, not just on the revenue front but also on the profitability of the front which is on the center of market share. if you

consider goat _ center of market share. if you consider goat we _ center of market share. if you consider goat we were - center of market share. if you consider goat we were talking j consider goat we were talking about meta— lay—offs and other big companies and the collapse of silicon valley bank, do you think that maybe this is finally the paint might be over in the next quarter was in marked nothing i have seen in the data is suggesting that and we have just heard from a handful of tech companies in the last week or so and they are pointing into weakening fundamental trends and we see this slow down and you alluded to this, these companies spent the better part of the last two years open up new business lines and facilities and hire new people and they can't quite follow past enough to keep up with the slowdown.— follow past enough to keep up with the slowdown. there is no reason the _ with the slowdown. there is no reason the micro _ with the slowdown. there is no reason the micro data - with the slowdown. there is no reason the micro data or - with the slowdown. there is no reason the micro data or or- reason the micro data or or data that suggests we see that change anytime soon. i data that suggests we see that change anytime soon.- data that suggests we see that change anytime soon. i want to talk about _ change anytime soon. i want to talk about china _ change anytime soon. i want to talk about china tech _ change anytime soon. i want to talk about china tech stocks. i talk about china tech stocks. how do they compare to what we might experience rc in the next week? ., ,

might experience rc in the next week? . , ., week? clearly there are similarities _ week? clearly there are similarities in _ week? clearly there are similarities in that - week? clearly there are| similarities in that some week? clearly there are i similarities in that some of these and markets overlap a between china and the us but i think the thing that chinese stocks have going for them is that they have been decimated much more than stocks in the us, and so they are much cheer cheaper and more out of favor. the good thing is that they have this domestic exposure to the chinese economy which is one of the few markets in the world that is accelerating while the rest of the world is taping into a global profit recession, china has been in a profit recession and is recovering from that. from that perspective, there is reason to think that chinese tech docs may fare better.— think that chinese tech docs may fare better. that is dancer susie from _ may fare better. that is dancer susie from richard _ may fare better. that is dancer susie from richard bernstein l susie from richard bernstein investors in your work. why social media giants have been turning in lower profits is because the slowdown in revenue. many businesses have been trying to reduce spending in these times and at

traditionally advertising revenue would be the first things that are cut. the president of the advertising company wpp in australia and new zealand says spending on advertising is rising and certain sectors. we advertising is rising and certain sectors.- advertising is rising and certain sectors. ~ ., certain sectors. we are looking closely and _ certain sectors. we are looking closely and are _ certain sectors. we are looking closely and are cautious - certain sectors. we are looking closely and are cautious please optimistic things will be ok but we have a good outlook for a few sectors. travel and leisure are holding, finance and banking are advertising and the retail sector is steady. so far, so good, and a lot of our clients recognize they learned a great deal in the pandemic which is the worst thing you can do is cut your advertising spend. i can do is cut your advertising send. ., ., ., ~' can do is cut your advertising send. ., ., ., ,, ., spend. i want to talk about twitter and _ spend. i want to talk about twitter and the _ spend. i want to talk about twitter and the bbc - spend. i want to talk about twitter and the bbc did - spend. i want to talk about twitter and the bbc did an | twitter and the bbc did an interview with elon musk recently and he said advertising is back under platform. what are you hearing from your clients? is that something they are in? what is their approach to advertising on twitter versus instagram or

tiktok? , ., tiktok? clients go where their customers _ tiktok? clients go where their customers are _ tiktok? clients go where their customers are and _ tiktok? clients go where their customers are and twitter- tiktok? clients go where their customers are and twitter is l customers are and twitter is looking a lot better than it was a few months ago. certainly in australia, without tutor itself as a platform, we are seeing clients looking closely stop there looking at the platform because if the consumers are there they will go with whatever social media that form is delivering the numbers. whether it be tiktok, instagram, twitter or any platforms emergent. bed instagram, twitter or any platforms emergent. bed bath & be ond platforms emergent. bed bath & beyond has _ platforms emergent. bed bath & beyond has filed _ platforms emergent. bed bath & beyond has filed for _ platforms emergent. bed bath & beyond has filed for bankruptcy i beyond has filed for bankruptcy after failing to secure funds to stay afloat. the home goods retailer in the united states warned in early january that he was having trouble finding cash to cover expenses. bed bath & beyond became popular in the 19905 beyond became popular in the 1990s as a go to shopping destination for newlyweds and expecting couples. demand has dropped off in recent years as its strategy to sell more storebrand and products failed. hundreds of the companies stores will remain open for now

as it begins to close the businesses and liquidate its assets. the head of the us media giant nbc universal is stepping down after acknowledging an inappropriate relationship with a female employee. the parent company comcast says his departure came after incomplete prompted a investigation into the matter. in a statement, mr xiao said he was sorry for that in his comcast and nbc universal colleagues done. he had been at the company for two decades and comcast has yet to name a successor. the chance to take over a family business may be a privilege but there are challenges as well some exam please some employees for example, especially those working for a long time, many seats as necklaces that is what happened to the son who took over his dads crafting business in singapore. he shared his challenges with the bbc. mr;

in singapore. he shared his challenges with the bbc. my dad came from _ challenges with the bbc. my dad came from chinatown _ challenges with the bbc. my dad came from chinatown and - challenges with the bbc. my dad came from chinatown and got. came from chinatown and got involved with drugs and so on and it's amazing given what she was before, he had a rough childhood and back on and then to actually turn over a new leaf and grow a business from ground up. when he started we were young and we went to his office and we hung out and watch them work sometimes. he's more of an artist, a creative, so he would draw designs and we would watch him convert those 2d designs into 3d products and i thought that was amazing. in 2016 he wasn't doing so well and back then my dad always said whatever he had he was going to give it to us in any way. that's when i started. my brotherjoined in 2019 so i thought i would try and give it a shot to manage the company back then. and he thought it was a good idea. to pass on the

bets on. i guess it's not easy giving up control after more than 30 years of running the business. sirthere than 30 years of running the business. sir there are a few parts where still wanted to come back in and control for lack of a better word. it wasn't that easy relationship wise between us but we work through its in a difficult time. had to make a lot of sacrifices with times and friends and girlfriend. working in the office for 100 were over weeks and sleeping over. the most challenging part was, i think, i was the bosses son. the fact that i didn't have any credentials, so to speak, so i think at the start a lot of existing employees saw me as a son and took it as of time to convince them that i was actually capable of in this job. to appeal to younger generations, we are creating more sustainable products and

also creating more vegan options for consumers who prefer not to use animal products but, that being said, i really love those old designs so i really love and respect what my dad came up with more than 30 years ago. the products are still quality and i want to bring them back, and i hope is a little bit at least proud that his two sons are here working alongside him for something that he started from ground zero many years ago stop thatjoseph zora from the sky not talking about the challenges of running a family business. �* ., ., , business. before we go. here is what we are _ business. before we go. here is what we are keeping _ business. before we go. here is what we are keeping an - business. before we go. here is what we are keeping an eye - business. before we go. here is what we are keeping an eye onl what we are keeping an eye on this week. monday later today, sending singapore will report its inflammation inflation data after a 1k year high in the city that imports most of its goods. 0n city that imports most of its goods. on tuesday, we will get

a snapshot of south korea's economy as they report their fourth quarter gdp and they're hoping to show the country is narrowly avoiding a recession. mid week we will get a report from australia. the countries of central bank has kept interest rates on changed. it is hinted it may raise the cost of borrowing again as inflation remains high in the country. let's take a quick look at the markets, certainly wall street was really, slightly, when it closed on friday, we will be keeping a close eye on what goes on here in asia with the different markets and right now it is changing too much flat. we will keep in close eye to see exactly what happens with all of that. that is it for us here on asia business report, i am monica miller and you can

keep up with the latest news by visiting bbc .com or visit our app. thank you. he's the oldest competitor running in this year's london marathon. at age 90, david pixley will walk the race rather than run. he's hoping to do it in seven hours. it takes me two hours to do 6.9 or so miles. and i call that a good run. the 90—year—old has run 13 marathons in his lifetime. i missed my last one. yes, i was struggling then. it took me about an hour longer to do that. it was five hours and something. so that was when i was 64. and i said, well, now is the time to give up marathons. so that was my last run marathon. david will be running the race

in honor of his sister who died of bowel cancer 50 years ago. and he uses fliers to get donations. it says london marathon 2023 for bowel cancer uk. thank you. thank you very much. that's very kind. and that was one member of the public that had just donated. she took this and 8:00 in the morning, i looked at it and she's paid to, you know, give her a donation. it's absolutely wonderful. and for david, he hopes to continue raising money as long as he can.

irina has had to leave half her family back in ukraine, but as she tries to build a temporary life thousands of miles away here in whitley�*s of her countrymen and women who've lost limbs amid

the horrors of war. because of the war in ukraine more than 3000 people lost their limbs. we have a partners, a partnership with albania project in ukraine. it's a company which provides first bionic prosthesis in ukraine. so we organised this charity project that it will be charge of free. free for ukrainians. irina has had to leave her oldest daughter, yuliana, back home in lviv with her husband mykola, while she's in the northeast with her youngestjustina. at the start of the war, they had to take shelter in their basement in the first wave of attacks. and while she's here in the north east, irina wants to help a ukrainian bionics developer, which in turn wants to help the thousands of people who've lost limbs on the front line. for example, we have now a candidate who was a war medic in a night with the enemy tank shot their position, so he was badly wounded and he lost his arm. it's a very rewarding experience. and after all her hard

work raising awareness from her temporary home in the east, irina deserves to be permanently reunited with all her family back in ukraine one day. hello. i'm karthi gnanasegaram from the bbc sport centre. coming up on the programme... it took penalties to separate them, but manchester united eventually beat brighton to book a place in the fa cup final. an electric atmosphere as newcastle embarrass spurs and elevate their own hopes of finishing in the top four. and we'll have details of a dream debut as well as a record—breaking london marathon. we start with the fa cup, and for the very first time,