let's hope they can get the others out. a make or break week for big tech. major players prepared to turn in their financial results following multiple rounds of job cuts. plus, a blessing or a curse? take a close look at what it is like to take over a long—running family business. hello and welcome to asia business report, i'm monica miller. earnings season is back in full swing miller. earnings season is back infull swing in miller. earnings season is back in full swing in the united states. this week will be getting the report from internet giants like spotify,

alphabet and meta. and microsoft samsung and intel. the technology sector has been —— enjoyed rapid growth during the pandemic but now they are operating in a high interest rate environment. they have also been cost—cutting measures. meta, for example, has had to announce that this month it will cut 10,000 more jobs and that is on top of the 11,000 that the company let go last november. danzig is a deputy chief investment officer at richard burnside advisors and he now says that he is not optimistic about technology stocks in the united states. i don't really see any reason to expect anything different from what we have seen both from these companies over the past couple of quarters but also from the companies we have only heard from his earnings season. i think what is clear is growth is slowing and this is hurting

these companies notjust on the front of the profitability front of the profitability front which i think is front and centre for markets. we were talkin: and centre for markets. we were talking about _ and centre for markets. we were talking about meta _ and centre for markets. we were talking about meta layoffs - and centre for markets. we were talking about meta layoffs and i talking about meta layoffs and other big companies, also the collapse of the silicon valley bank. do you think that maybe this is finally, the pay might be over in the next quarter? nothing i'm seeing in the data is really suggesting that. again, wejust heard is really suggesting that. again, we just heard from a handful of tech companies in the last week or so. they are pointing to weakening fundamental trends. you have seen this consistently slow down in these companies and you alluded to this. this company has spent the better part of the last few years opening of a business lines, opening up facilities, hiring people, and they can't cut costs fast enough to the slowdown in growth we are seeing right now so there is no reason either in the micro macro data we have seen suggested is changing anytime soon. i seen suggested is changing anytime soon.— seen suggested is changing anytime soon. bit anytime soon. i want to talk a bit about _ anytime soon. i want to talk a bit about china _ anytime soon. i want to talk a bit about china tech _ anytime soon. i want to talk a

bit about china tech stocks. . bit about china tech stocks. how did they compared to what we might experience or see in the next week?— we might experience or see in the next week? clearly there is a similarities _ the next week? clearly there is a similarities in _ the next week? clearly there is a similarities in that _ the next week? clearly there is a similarities in that some - the next week? clearly there is a similarities in that some of. a similarities in that some of these end markets overlap a lot between china and the us but i think the thing that chinese stocks have going for them is that they have been decimated much, much more than stocks in the us and so they are much cheaper, they are more out—of—favour and the good thing is to the extent that they have the domestic exposure to chinese economy, the chinese economy is one of the few markets in the world that is actually accelerating the rest of the world is actually tipping into a global profits recession. china has been in a recession. china has been in a recession and now they are recovering from that. on that perspective i think there is reasons to think that chinese tech stocks may take better. dances acky there. one reason why giants like meta and google have been turning in lower profits is because of a

slowdown in ad revenue. many copies have been trying to reduce spending during this economic slowdown. traditionally advertising spending would be the first thing to go when companies face economic times. those hersey is the president of the advertising conglomerate wpp in australia and new zealand. she says spending on advertising is actually rising in some sectors. actually rising in some sectora— actually rising in some sectors. . ., , sectors. they are certainly lookin: sectors. they are certainly looking closely _ sectors. they are certainly looking closely and - sectors. they are certainly i looking closely and cautiously optimistic that things will be ok and ultimately we have a 0k and ultimately we have a good outlook become of the key sectors. travel and leisure are holding and finance and banking sectors are still advertising strongly. retailsector strongly. retail sector is currently steady and so far, so good. a lot of our clients recognise they learned a great deal in the pandemic and what they have learned is that the worst thing you can do is cut your advertising spend. i want to talk about _ your advertising spend. i want to talk about twitter. - your advertising spend. i want to talk about twitter. the - your advertising spend. i want to talk about twitter. the bbc did an interview with elon musk not too long ago and he said ad revenue is back on the platform. what are you hearing from your clients? are they

interested in this and what is there view on advertising on twitter versus instagram or tick—tock. —— tiktok. twitter versus instagram or tick-tock. -- tiktok. clients to tick-tock. -- tiktok. clients 90 whether _ tick-tock. -- tiktok. clients go whether eyeballs - tick-tock. -- tiktok. clients go whether eyeballs are. . tick-tock. -- tiktok. clientsl go whether eyeballs are. and twitter is looking a little better than it was a few months certainly with australia with acquitted twice and that my clients and twitter itself as a platform. we are seeing clients looking very closely and they are looking at the platform because again if the consumers are there they are looking at whatever social media platform is really delivering them the numbers. whether it be tiktok, instagram, twitter or any of the other platforms emerging. bed bath and beyond in the united states has filed for bankruptcy after failing to secure funds to stay afloat. it was warned in early january that it was finding it hard to cover expenses. it became popular in the 1990s as i go to shopping destination for newlyweds and expecting couples demand has dropped off in recent years as a strategy to

sell more store branded products have failed. hundreds of the company �*s stores will remain open for now as it begins to close the businesses and liquidators assets. the head of us media giant nbc universaljeff shell is stepping down after acknowledging an inappropriate relationship with a female employee. parent company cast has said that his departure comes after a complaint prompted an investigation into the matter. in a statement mr shall said he was sorry for letting his comcast and nbc universal colleagues down. he had been with the company for about two decades. comcast has yet to name a successor. having a chance to take over a family business may be a privilege but they can also be challenges as well. some employees, for example, especially those who have been working in the company for some time, may see it as nepotism. that is what happened tojoseph laura who had taken over his dad's leather crafting business in

singapore. he shared his challenges with the bbc. my dad crew u- in challenges with the bbc. my dad grew up in chinatown _ challenges with the bbc. my dad grew up in chinatown and - challenges with the bbc. my dad grew up in chinatown and got - grew up in chinatown and got involved in drugs and things like that, i went to visit a few times. it is pretty amazing given what he was before. he didn't —— he had a rough childhood and background and then to actually turn a new and build a business from the ground up. when he first started, we went to his office and just hung out and watched him work sometimes. he is more of an artist, creative, so he would draw some designs and then watch him convert those duty designs into 3d products and i thought that was pretty amazing. during 2016 we were doing so well and back then i saw my dad, with whatever he had and that is when i started. my had and that is when i started. my brotherjoined in 2019 so i thought i would try to give it a shot to manage the company

back then. and he got he would sort of pass on the baton. i guess it is not easy giving up control after more than 30 years of running the business. so there are a few parts where he still wanted to come back in and control. laughter. for lack of a better word because of it wasn't easy relationship wise between us but we worked through it. it was a difficult time. i had to make a lot of sacrifices, times out with friends, be working in the office for 100 hour weeks, sleepover, that kind of stuff. the most challenging part i think really was the fact that i was the boss's son. i didn't have any credentials, so to speak. so i think at the start, a lot of the existing employees saw me as that and it took quite a lot of of time to actually convince them that i

was actually capable of doing thisjob. to appeal to was actually capable of doing this job. to appeal to the younger generation, we are creating more sustainable products and also create more vigor and options for consumers who prefer not to use animal products. —— —— vegan options was up i love the designs we really respect what my dad came up really respect what my dad came up with more than 30 years ago. the product actually are still good quality and i want to bring them back, and i hope he 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. that isjoseph talking about the challenges of taking over a family run business. now taking a look at the economic calendar ahead this week. later today singapore will report its inflation data for the month of march which has been hovering at about a 1k year high in the

island city that imports most of its goods. 0n island city that imports most of its goods. on tuesday, we will get a snapshot of south korea's economy. the government will report first—quarter gdp which many analysts are forecasting to show the country narrowly avoided a recession. by narrowly avoided a recession. by mid week we will hear inflation data from australia for the first quarter of the year. the country's central bank had kept interest rates unchanged earlier this year after ten consecutive rate hikes but it has hinted it may raise the cost of growing again as inflation remains uncomfortably high in the country. and before we go, let me tell you about how crowds at disneyland and california were left stunned on saturday night when a giant mechanical dragon caught fire. videos are shared online show that the 13 metre firebreathing dragon quickly became engulfed in flames as firefighters tried to control the blaze. it happened during a live performance featuring

water displays and pyrotechnics. no—one was injured. and that is it for this edition of asia business report. i'm monica miller. he is the oldest competitor running in this marathon. at age 90 david weir walk the race rather than run and he is hoping to do it in seven hours. it takes me two hours to do 6.9 also miles and i call that a good run. also miles and i call that a good run-— also miles and i call that a good run. also miles and i call that a aood run. ' :: , ., ., good run. the 90-year-old has run 30 marathons _ good run. the 90-year-old has run 30 marathons in _ good run. the 90-year-old has run 30 marathons in his - run 30 marathons in his lifetime.— run 30 marathons in his lifetime. . , ., lifetime. that was my last one, es. i lifetime. that was my last one, yes- i was _ lifetime. that was my last one, yes. i was struggling _ lifetime. that was my last one, yes. i was struggling then - lifetime. that was my last one, yes. i was struggling then and l yes. i was struggling then and it took me about an hour longer to do that. that was when i was 64 and i

thought now is the time to give up thought now is the time to give up marathons. that was my last run marathon.— run marathon. david will be runnina run marathon. david will be running the _ run marathon. david will be running the race _ run marathon. david will be running the race in - run marathon. david will be running the race in honour. run marathon. david will be l running the race in honour of his sister who died of bowel cancer 50 years ago and he uses flyers to get donations.- flyers to get donations. london 2023 for bowel _ flyers to get donations. london 2023 for bowel cancer - flyers to get donations. london 2023 for bowel cancer uk. - flyers to get donations. london | 2023 for bowel cancer uk. thank you. thank you very much! that is very kind. you. thank you very much! that is very kind-— is very kind. and that was one member of— is very kind. and that was one member of the _ is very kind. and that was one member of the public - is very kind. and that was one member of the public who - is very kind. and that was one | member of the public who just donated. member of the public who 'ust donated. . member of the public who 'ust donated. ,, ., ., ~' member of the public who 'ust donated. ,, , ., donated. she took this and... eiuht donated. she took this and... eight o'clock _ donated. she took this and... eight o'clock in _ donated. she took this and... eight o'clock in the _ donated. she took this and... eight o'clock in the morning, | donated. she took this and... | eight o'clock in the morning, i looked and she, made a donation. wonderful. and the david he hopes _ donation. wonderful. and the david he hopes to _ donation. wonderful. and the david he hopes to continue i david he hopes to continue raising money as long as he can. —— affidavit. —— and for david.

arena has had to leave how her family back in ukraine but as she tries to build a temporary life thousands of miles away,

her countrymen and women who have lost limbs because of the war. ., ., ., ., war. the war of more than three dozen people. — war. the war of more than three dozen people, lost— war. the war of more than three dozen people, lost her- war. the war of more than three dozen people, lost her limbs. i dozen people, lost her limbs. we had a partnership in ukraine. as a company which provide first bionic in ukraine. we organise a charity project that it will be free for ukrainians.— project that it will be free for ukrainians. she has had to leave her— for ukrainians. she has had to leave her oldest _ for ukrainians. she has had to leave her oldest daughter - for ukrainians. she has had to | leave her oldest daughter back home with her husband she is in the northeast with her youngest. at the start of the war they had to take shelter in their basement in the first wave of attacks and while she is here in the northeast arena wants to help the ukrainian bionics developer which in turn wants to help the thousands of people who have lost limbs on the frontline. for people who have lost limbs on the frontline.— people who have lost limbs on the frontline. for now we have a war net _ the frontline. for now we have a war net -- — the frontline. for now we have a war net -- medic, _ the frontline. for now we have a war net -- medic, the - the frontline. for now we have | a war net -- medic, the enemy a war net —— medic, the enemy shot their position so he was wounded and lost his arm. it is

a rewarding experience. and a rewarding experience. and after all her _ a rewarding experience. and after all her hard _ a rewarding experience. and after all her hard work raising awareness from her temporary home in the northeast she was to be your rightjudgement reunited with her home and family back in the ukraine one day. hello. i'm 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. hello and thanks

forjoining us. here's your latest sports news.